Sensex

Tuesday, August 12, 2008

DG - FW: Sharekhan Post-Market Report dated August 12, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 12 August 2008 16:20
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated August 12, 2008

 

 Sharekhan's daily newsletter

Visit us at www.sharekhan.com

Error! Filename not specified. 

August 12, 2008

 

Index Performance

Index

Sensex

Nifty

Open

15,577.20

4,620.95

High

15,579.78

4,649.85

Low

15,124.91

4,525.75

Today's Cls

15,212.13

4,552.25

Prev Cls

15,503.92

4,620.40

Change

-291.79

-68.15

% Change

-1.88

-1.47

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Deccan Aviation

91.05

6.81

Gammon India

248.15

6.46

Bajaj Holdings

451.65

5.55

Biocon

403.05

5.18

Jet Airways

517.00

5.07

Losers

Tata steel

607.95

-5.71

IDBI Bank

88.00

-5.68

Educomp Solutions

3,343.00

-5.56

Phoenix Mills

186.60

-5.42

Maruti Suzuki

678.05

-5.23

Market Statistics

-

BSE

NSE

Advances

1,100

396

Declines

1,556

818

Unchanged

73

24

Volume(Nos)

34.16cr

55.47cr

 Market Commentary 

Sensex cools, drops 292 points 

Across-the-board selling pressure led by oil stocks saw the Sensex plummet 1.88%.

The Sensex witnessed the awaited correction today, as meltdown in major global indices turned the domestic market upside down. After rallying for the past few sessions, the Sensex lost 292

 

points on sustained selling in heavyweights, metal and banking stocks.

The market began on a positive note at 15,577 and touched the day's high of 15,580 (only two points higher than the opening), but remained range-bound as trading progressed. After slipping below 15,300 level in noon trades, the Sensex plunged towards the close on unabated selling in metal, banking and information technology stocks, touching the day's low of 15,125. The Sensex signed off the session with a loss of 1.88% or 292 points at 15,212. The Nifty tumbled by 1.47% or 68 points to close at 4,552.

Movers & Shakers

  • Steel Strips Wheels rose after the company reported a sales growth of 20% and an export growth 291% in July 2008.
  • Trent's Hyper hit the upper circuit after the company entered into an association with Tesco Plc, UK's leading retailer for the company.


The market breadth was extremely weak. Of the 2,729 stocks traded on the BSE, 1,556 stocks declined, 1,100 stocks advanced and 73 stocks ended unchanged. All the 13 sectoral indices were hammered today. BSE Metal Index led the slump and crashed by 3.62% at 12,661. BSE Bankex was down 3.44% at 7,437, BSE IT Index lost 2.84% at 3,772 and the BSE Teck Index dropped 2.44% at 3,028. Other sectoral indices slipped by around 0.75-2% each. However, BSE Oil & Gas Index and BSE FMCG Index ended with steady gains.

Out of 30 Sensex stocks, 25 stocks ended lower, with metal and banking stocks taking a strong beating. Among the metal stocks, Tata Steel plummeted by 5.71% at Rs607.95 and Jindal Steel crashed by 5.11% at Rs1,993.60. Banking majors IDBI slumped 5.68% at Rs88 and Axis Bank lost nearly 5.03% at Rs721.55. Index heavyweight Maruti Suzuki India plunged 4.58% at Rs678.05, JP Associates shed 4.46% at Rs188.55, Sterlite Industries declined by 4.46% at Rs597.05, ICICI Bank slipped by 4.20% at Rs738.40 and HDFC fell by 4.03% at Rs2,466.60.

Over 2.53 crore shares of Landmark Property changed hands on the BSE followed by Reliance Natural Resources (1.70 crore shares), Chambal Fertilisers (1.60 crore shares), Nagarjuna Fertilisers (1.20 crore shares) and Kashyaap Technologies (91.77 lakh shares).

European Indices at 16:00 IST on 12-08-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

5530.70

-11.10

-0.20

CAC 40 Index

4530.13

-8.36

-0.18

DAX Index

6590.56

-19.07

-0.29

Asian Indices at close on 12-08-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

13303.60

-127.31

-0.95

Hang Seng Index

21640.89

-218.45

-1.00

Kospi Index

1577.12

-3.97

-0.25

Straits Times Index

2816.82

-8.57

-0.30

Jakarta Composite Index

2057.57

-76.34

-3.58

To know more about our products and services, click here.

“This document has been prepared by Sharekhan Ltd. This Document is subject to changes without prior notice and is intended only for the person or entity to which it is addressed to and may contain confidential and/or privileged material and is not for any type of circulation. Any review, retransmission, or any other use is prohibited. Kindly note that this document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction.
Though disseminated to all the customers simultaneously, not all customers may receive this report at the same time. SHAREKHAN will not treat recipients as customers by virtue of their receiving this report.
The information contained herein is from publicly available data or other sources believed to be reliable. While we would endeavour to update the information herein on reasonable basis, SHAREKHAN, its subsidiaries and associated companies, their directors and employees (“SHAREKHAN and affiliates”) are under no obligation to update or keep the information current. Also, there may be regulatory, compliance, or other reasons that may prevent SHAREKHAN and affiliates from doing so. We do not represent that information contained herein is accurate or complete and it should not be relied upon as such. This document is prepared for assistance only and is not intended to be and must not alone betaken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks of such an investment. The investment discussed or views expressed may not be suitable for all investors. We do not undertake to advise you as to any change of our views. Affiliates of Sharekhan may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report. 
This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject SHAREKHAN and affiliates to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction.
SHAREKHAN & affiliates may have used the information set forth herein before publication and may have positions in, may from time to time purchase or sell or may be materially interested in any of the securities mentioned or related securities. SHAREKHAN may from time to time solicit from, or perform investment banking, or other services for, any company mentioned herein. Without limiting any of the foregoing, in no event shall SHAREKHAN, any of its affiliates or any third party involved in, or related to, computing or compiling the information have any liability for any damages of any kind. Any comments or statements made herein are those of the analyst and do not necessarily reflect those of SHAREKHAN.”

To unsubscribe write to myaccount@sharekhan.com

 

__._,_.___
Regards

BigGains !!
Recent Activity
Visit Your Group
Yahoo! Finance

It's Now Personal

Guides, news,

advice & more.

Need traffic?

Drive customers

With search ads

on Yahoo!

Real Food Group

Share recipes,

restaurant ratings

and favorite meals.

.

__,_._,___

No comments: