Sensex

Wednesday, September 10, 2008

DG - FW: Sharekhan Post-Market Report dated September 10, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 10 September 2008 17:14
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated September 10, 2008

 

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September 10, 2008

 

Index Performance

Index

Sensex

Nifty

Open

14,717.53

4,467.50

High

14,866.32

4,467.50

Low

14,609.83

4,382.35

Today's Cls

14,662.61

4,400.25

Prev Cls

14,900.76

4,468.70

Change

-238.15

-68.45

% Change

-1.60

-1.53

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Adani Enterprises

657.10

7.65

EIH

157.25

7.59

BOB

309.60

5.58

Bajaj Auto

619.95

4.40

Indian Overseas

98.20

3.26

Losers

Sterlite Ind

507.90

-11.78

Jindal Steel

1,655.45

-8.04

Gujarat NRE Coke

79.90

-7.58

JSW Steel

661.65

-7.48

SAIL

140.15

-6.50

Market Statistics

-

BSE

NSE

Advances

931

463

Declines

1,722

1,021

Unchanged

77

23

Volume(Nos)

26.85cr

46.64cr

 Market Commentary 

Metal stocks play spoil sport

Bearish global markets trend triggered wide spread selling in the domestic indices, with the Sensex sliding by 238 points

Taking lead from weak global markets, the Sensex was 183 points below its previous close at the opening bell.  

 

It traded lower all through the day due to selling in metal, oil & gas and power stocks. Though at one point of time, it was just 34 points below (which is the day’s high) the previous close, it never managed to cross the previous close level. The lowest of the day was 290 points below the previous close. The Sensex finally closed the day 238 points lower at 14663. Following almost a similar pattern, the Nifty ended the day 68 points lower at 4400.  

Movers & Shakers

  • Educomp Solutions moved down despite entered into a 50-50 strategic partnership with EuroKids International. 
  • Larsen & Toubro slipped inspite of receiving the largest ever equipment order from Brazil.


Market breadth was negative, as of the 2,730 stocks traded on the BSE, around 63% shares (1,722 stocks) declined, while only 34% shares (931 stocks) advanced. The remaining 3% stocks (77 stocks) remained unchanged for the day. Of the 30 shares that make the index, 24 shares declined, while only six advanced.
All the 13 sectoral indices of the BSE traded lower, with the BSE Metal ending 5.48% lower followed by BSE Oil & Gas and BSE Power that shed 2.18% and 1.67% respectively. 

Metal stocks came under sharp hammering. Sterlite Industries shed 11.78% at Rs507.90, Jindal Steel fell 8.04% at Rs1,655.45, Gujarat NRE Coke declined lost 7.58% at Rs79.90 and JSW was down nearly 7.48% at Rs661.65. Among the other losers Tata Steel dipped 5.21% at Rs535, Tata Power slipped by 3.44% at Rs1,049.10, Reliance Infrastructure dropped 3.36% at Rs1,034.95, Bharti Airtel slumped 2.93% at Rs811.95 and Reliance Industries shed 2.77% at Rs2,083.55. Grasim Industries however, rose 0.85% at Rs2,046.75, ACC advanced 0.74% at Rs601.10 and Infosys moved up 0.68% at Rs1,759.15.

Over 2.12 crore IFCI shares changed hands on the BSE followed by Austral Coke (1.14 crore shares), Reliance Natural Resources (93.55 lakh shares), Kohinoor Foods (80.15 lakh shares) and Tata Teleservices Maharashtra (72.63 lakh shares).

Austral Coke was the most actively traded counter and clocked a turnover of Rs275 crore followed by Sterlite Industries (Rs212 crore), Reliance Industries (Rs204 crore), Reliance Capital (Rs184 crore) and ICICI Bank (Rs159 crore).

European Indices at 16:15 IST on 10-09-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

5376.70

-38.90

-0.72

CAC 40 Index

4299.25

5.90

0.14

DAX Index

6216.10

-17.31

-0.28

 

Asian Indices at close on 10-09-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

12346.63

-54.02

-0.44

Hang Seng Index

19999.78

-491.33

-2.40

Kospi Index

1464.98

10.48

0.72

Straits Times Index

2622.41

-50.80

-1.90

Jakarta Composite Index

1885.04

-73.70

-3.76

 

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