Sensex

Tuesday, July 08, 2008

DG - FW: Sharekhan Post-Market Report dated July 08, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 08 July 2008 16:42
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated July 08, 2008

 

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July 08, 2008

 

Index Performance

Index

Sensex

Nifty

Open

13,292.80

4,028.70

High

13,451.67

4,028.70

Low

13,049.96

3,896.05

Today's Cls

13,349.65

3,988.55

Prev Cls

13,525.99

4,030.00

Change

-176.34

-41.45

% Change

-1.30

-1.03

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Alstom Projects

404.60

7.34

Godrej Industries

156.95

7.06

ACC

527.00

6.21

BPCL

251.40

5.54

Rolta India

282.25

5.44

Losers

Moser Baer

115.20

-5.50

Bajaj Hindusthan

154.65

-5.33

Tata Power

1,029.35

-5.14

Punj Lloyd

220.10

-4.74

Exide Industries

63.85

-4.70

Market Statistics

-

BSE

NSE

Advances

1,156

505

Declines

1,417

693

Unchanged

83

26

Volume(Nos)

28.67cr

53.13cr

 Market Commentary 

Sensex erases its lows but sheds 176 points at close

Across-the-board selling saw the Sensex slip below 13,100 mark, but selective buying towards the close enabled the Sensex make for the losses. 

Weak global cues and political tensions back home led the market open lower today. The Sensex was down 233 points at the open and remained subdued,  

 

as investors booked profits after the recent gains. IT, Teck, fast moving consumer goods (FMCG) and consumer durables (CD) stocks took the major beating. The index faltered under the selling pressure by afternoon and slipped to the day's low of 13,050. While the market fluctuated sharply thereafter, the firm bullish sentiment and strong buying in heavyweights and capital goods (CG) stocks in the late trades helped the Sensex erase most of its losses. The Sensex finally ended the session by shedding 1.30% or 176 points at 13,350. The Nifty slipped 41 points at 3,989.

The market breadth was negative, with the losers outpacing the gainers in the ratio of 1.20:1. Of the 2,656 stocks traded on the BSE, 1,417 stocks declined, 1,156 stocks advanced and 83 stocks ended unchanged. Most of the sectoral indices ended in the red. The BSE IT index dropped 3.11% at 4,046 followed by the BSE Teck index (down 2.50% at 3,017) and the BSE FMCG index (down 2.02% at 1,952). However, the BSE CG index gained 1.36% at 10,854 and the BSE PSU index (up 0.82% at 5,724). 

Heavyweights led the fall in the Sensex. Wipro slipped by 4.61% at Rs419.70, Tata Motors slumped by 4.13% at Rs376.35, Infosys shed 3.62% at Rs1,736, ITC lost 3.24% at Rs171.85, Grasim Industries was down 3.19% at Rs1,670.70 and Reliance Infrastructure tumbled 3.03% at Rs754. Among the gainers ACC jumped 6.21% at Rs527, Mahindra & Mahindra gained 3.92% at Rs515.80, NTPC rose 3.60% at Rs161.20, SBI was up by 2.79% at Rs1,204.45 and BHEL was up 2.18% at Rs1,498.25, while Hindalco and L&T ended with modest gains.

Over 2.84 crore Reliance Natural Resources shares changed hands on the BSE followed by IFCI (2.47 crore shares), First Winner Industries (1.35 crore shares), Reliance Petroleum (99.92 lakh shares) and Chambal Fertilisers (91.83 lakh shares).

European Indices at 16:02 IST on 08-07-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

5381.80

-130.90

-2.37

CAC 40 Index

4252.18

-90.41

-2.08

DAX Index

6233.05

-162.70

-2.54

Asian Indices at close on 08-07-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

13033.10

-326.94

-2.45

Hang Seng Index

21220.81

-692.25

-3.16

Kospi Index

1533.47

-46.25

-2.93

Straits Times Index

2886.62

-47.50

-1.62

Jakarta Composite Index

2278.97

-24.84

-1.08

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