Sensex

Thursday, September 18, 2008

DG - FW: Sharekhan Post-Market Report dated September 18, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 18 September 2008 17:14
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated September 18, 2008

 

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September 18, 2008

 

Index Performance

Index

Sensex

Nifty

Open

12,712.82

4,005.25

High

13,346.79

4,050.10

Low

12,558.14

3,799.55

Today's Cls

13,315.60

4,038.15

Prev Cls

13,262.90

4,008.25

Change

52.70

29.90

% Change

0.40

0.75

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

OnMobile Global

470.80

10.21

Rolta India

293.20

9.96

IOB

110.45

7.49

Suzlon Energy

209.45

6.54

Bajaj Honldings

450.20

6.41

Losers

Ranbaxy

340.95

-10.06

Indiabulls Real Estate

191.50

-8.81

Gujarat NRE Coke

61.00

-8.27

Mundra Port

454.45

-8.19

Jet Airways

438.50

-7.96

Market Statistics

-

BSE

NSE

Advances

676

328

Declines

1,944

1,212

Unchanged

70

20

Volume(Nos)

41.58cr

60.95cr

 Market Commentary 

About-turn

An across-the-board rally saw the market bounce back sharply from its early losses of more than 700 points to end 52 points higher.

Today the market saw a smart rally despite weakness in global markets. Despite slipping over 700 points in early trades, the Sensex witnessed a relief rally led by across-the-spectrum buying.  

 

The index recovered from its lows and closed posstive, as value buying emerged at lower levels. The Sensex received major support from banking, oil & gas and power stocks. The market gathered steam towards the close and the Sensex crossed the mark of 13,300 and touched the day's high of 13,347 before closing at 13,263, up 53 points. The Nifty too bounced back sharply and advanced 30 points to close at 4,038.

Movers & Shakers

  • Pratibha Industries lost despite receiving orders worth Rs156 crore from Delhi Jal Board.


The breadth of the market was extremely negative, as of the 2,690 stocks traded on the BSE, where only 676 stocks advanced, 1,944 stocks declines. 70 stocks ended unchanged. Most of the sectoral indices closed with significant gains. The BSE Bankex was the major gainer and soared 2.68% followed by the BSE Oil & Gas index (up 2.36%) and the BSE CG index (up 0.95%). However, the BSE Realty and BSE CD index slipped over 4% each. The BSE IT index, BSE Teck index, BSE HC index and the BSE Metal index closed with marginal losses.

Attracting strong buying support, Sterlite Industries surged by 3.43% at Rs454.50, HDFC Bank shot up by 3.17% at Rs1,222, Reliance Industries jumped by 3.16% at Rs1,932.85, NTPC advanced by 3.05% at Rs174, ICICI Bank scaled up 2.78% at Rs575.85, Maruti Suzuki India zoomed 2.70% at Rs718.45, Mahindra & Mahindra added 2.46% at Rs550.55, Reliance Infrastructure vaulted by 2.43% at Rs849.60, ONGC firmed up by 2.14% at Rs999.15 and ACC climbed 2.02% at Rs601.35. Among the laggards, Ranbaxy Laboratories slipped 10.06% at Rs340.95, Jaiprakash Associates shed 6.73% at Rs127.40, Satyam Computer Services declined by 4.16% at Rs335, while Infosys Technologies, Tata Steel, DLF, Tata Power and HDFC fell 1-4% each.

Banking stocks witnessed sustained buying support. Indian Overseas Bank soared 7.49% at Rs110.45, Bank of Baroda added 5.80% at Rs327.35, Kotak Bank scaled up by 4.72% at Rs579.45 and Punjab National Bank gained 4.38% at Rs517. 

Over 1.97 crore shares of Reliance Natural Resources changed hands on the BSE followed by IFCI (1.34 crore shares), S Kumars (1.33 crore shares), KS Oils (1.20 crore shares) and Jaiprakash Associates (1.10 crore shares).

European Indices at 16:05 IST on 18-09-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

4990.60

78.20

1.59

CAC 40 Index

4037.78

37.67

0.94

DAX Index

5924.44

63.46

1.08

Asian Indices at close on 18-09-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

11489.30

-260.49

-2.22

Hang Seng Index

17632.46

-4.73

-0.03

Kospi Index

1392.42

-32.84

-2.30

Straits Times Index

2419.21

-0.08

0.00

Jakarta Composite Index

1787.67

17.78

1.00

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