Sensex

Monday, June 09, 2008

DG - FW: Sharekhan Post-Market Report dated June 09, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 09 June 2008 17:15
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated June 09, 2008

 

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June 09, 2008

 

Index Performance

Index

Sensex

Nifty

Open

15,115.97

4,626.45

High

15,202.74

4,626.45

Low

14,846.18

4,411.60

Today's Cls

15,066.10

4,500.95

Prev Cls

15,572.18

4,627.80

Change

-506.08

-126.85

% Change

-3.25

-2.74

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

GMDC

281.10

12.60

Lupin

701.70

8.05

Cairn India

300.10

4.84

Hero Honda Motors

787.00

4.19

NALCO

510.55

3.92

Losers

Hindustan Construction

113.85

-9.54

Unitech

184.80

-9.30

HPCL

193.30

-9.21

Bombay Dyeing

671.10

-9.07

Neyveli Lignite

106.55

-9.05

Market Statistics

-

BSE

NSE

Advances

474

171

Declines

2,170

1,039

Unchanged

49

21

Volume(Nos)

25.83cr

50.22cr

 Market Commentary 

Market hammered amid oil woes

After crashing over 700 points in intra-day trades, the market ended slightly below 15,100 levels and shed 3.25% on across-the-board selling.

Stocks across-the-board witnessed another round of heavy correction, as sentiment remained bearish for the second session on crude oil worries (over $138  

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a barrel in the USA market), liquidity squeeze in the domestic market and sharp downfall in other Asian indices. The market had dropped around 200 points in last sessions. Major Asian indices like the Nikkei, the Kospi, the Jakarta and the Straits Times shed over 1-2% each, thereby adding pressure on the domestic indices.

After resuming 456 points lower at 15,117, the market remained under the grip of sustained selling pressure. Extensive correction in heavyweights, realty, IT, capital goods (CG) and oil & gas stocks in noon trades dragged the index below the 14,900 mark to the day's low of 14,846. The Sensex finally ended the session at 15,066, down 506 points, while the Nifty shed 127 points to close at 4,501.

Movers & Shakers

  • Divis Laboratories lost despite the report that the company has recommended a 200% dividend on its equity shares for the year ended March 31, 2008.
  • Suzlon Energy tumbled even after Suzlon Wind Energy Corporation, USA, a step-down wholly owned subsidiary of the company signed a contract for an aggregate of 300 units of S88-2.1 MW turbines with Edison Mission Energy of Irvine, California. 


All the sectoral indices except the BSE health care (HC) index were hammered on the back of a relentless selling pressure. The BSE Realty index dropped 7.38% at 5,752, the BSE IT index lost 4.21% at 4,404.98, the BSE CG index shed 3.30% at 11,635, the BSE Oil & Gas index shed 3.29% at 9,676.55 and the BSE Bankex index fell 3.21% at 7,033.

The broader market was weak. Of the 2,693 stocks traded on the BSE 2,170 stocks declined, 474 stocks advanced and 49 stocks ended unchanged. Among the 30 stocks in the Sensex basket only three stocks ended in green. Among the major losers, JP Associates tanked 8.65% at Rs181.35, DLF tumbled 7.39% at Rs475, ONGC declined 7.02% at Rs864.90, HDFC slumped 5.99% at Rs2,115, Reliance Infra fell 5.65% at Rs1,003.30, Wipro plunged 4.85% at Rs475, TCS dropped 4.58% at Rs891, Infosys slipped by 4.46% at Rs1,889.90 and HDFC Bank was down 4.34% at Rs1,162. Other frontline stocks were down by 1-4% each. Ranbaxy Laboratories however ended in positive with a gain of 3.87%, while Reliance Communications and Hindalco ended with steady gains. 

On the volume front, India Cement witnessed more than 66.92 lakh shares changing hands, followed by Aftek Info (47.88 lakh shares), Polaris Lab (31.77 lakh shares), Reliance Communications (24.24 lakh shares) and Gujarat Ambuja Cements (22.05 lakh shares).

European Indices at 16:43 IST on 09-06-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

5903.70

-3.10

-0.05

CAC 40 Index

4797.70

2.38

0.05

DAX Index

6810.14

6.33

0.09

Asian Indices at close on 09-06-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

14181.38

-308.06

-2.13

Hang Seng Index

24402.18

-

-

Kospi Index

1808.96

-23.35

-1.27

Straits Times Index

3084.02

-62.71

-1.99

Jakarta Composite Index

2410.08

7.84

0.33

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