Sensex

Tuesday, September 23, 2008

DG - FW: Sharekhan Post-Market Report dated September 23, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 23 September 2008 16:46
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated September 23, 2008

 

 Sharekhan's daily newsletter

Visit us at www.sharekhan.com

 

September 23, 2008

 

Index Performance

Index

Sensex

Nifty

Open

13,721.42

4,223.90

High

13,978.26

4,224.70

Low

13,543.47

4,117.90

Today's Cls

13,570.31

4,126.90

Prev Cls

13,994.96

4,223.05

Change

-424.65

-96.15

% Change

-3.03

-2.28

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

OnMobile Global

495.35

8.55

NMDC

237.30

3.67

Akruti City

966.15

3.64

Sun Pharma

1,470.20

3.28

Sesa Goa

127.25

3.12

Losers

Ranbaxy Lab

308.85

-11.05

Deccan Chronicle

103.85

-10.93

Rolta India

260.40

-9.61

GMDC

156.00

-8.96

Sintex Industries

281.10

-8.53

Market Statistics

-

BSE

NSE

Advances

760

250

Declines

1,823

947

Unchanged

69

25

Volume(Nos)

23.29cr

41.89cr

 Market Commentary 

Battered

Across-the-board selling pressure led by weakness in information technology (IT) stocks saw the Sensex shed 3.03%. 

The correction continued for the second consecutive day on weak global indices and rising crude prices. Dwindling foreign fund inflows into the domestic market in the past

 

few sessions also adversely affected the sentiment. After shedding around 200 points by mid-morning, the market remained in the negative territory, however in afternoon it came close to erasing its losses. But, the mood turned extremely bearish, as widespread selling in IT, realty, banking and teck stocks dragged the index below the 13,600 mark to an intra-day low of 13,543. The Sensex finally managed to pare some of its losses and close at 13,570, down 425 points. The broad-based Nifty closed at 4,127, down 96 points.

The breadth of the market was extremely negative. Of the 2,652 stocks traded on the BSE, 1,823 stocks declined, whereas only 760 stocks advanced. The remaining 69 stocks remained unchanged. All the sectoral indices on the BSE were hammered. The BSE IT was the worst hit and tanked 5.07% at 3,455 followed by the BSE Realty index (down 4.68% at 3,903.82), the BSE Bankex (down 4.19% at 6,804.42) and the BSE Teck index (down 3.54% at 2,763.73).

Barring ACC and Tata Power, all other Sensex stocks bore the brunt of heavy selling. Ranbaxy Laboratories led the slump and crashed 11.05% at Rs308.85. Among other major laggards, DLF tumbled 6.25% at Rs394.60, Satyam Computer Services dropped 5.98% at Rs331.65, Tata Consultancy Services slumped 5.91% at Rs720.75, Wipro fell 5.77% at Rs390.45 and HDFC declined 5.53% at Rs2,198.05. ICICI Bank lost 5.48% at Rs599.70, Infosys Technologies was down by 5.19% at Rs1543.35 and Tata Motors shed 5.03% at Rs394.05. The other major front-line stocks shed 1-4% each. However, ACC rose marginally at Rs626.20 up 0.27% and Tata Power rose 0.16% at Rs1,022.30.

IT stocks lost significantly on relentless selling. Rolta India dropped 9.61% at Rs260.40, Moser Baer India shed 8.46% at Rs122.25, NIIT tumbled 5.21% at Rs58.25 and Tech Mahindra declined 3.11% at Rs636.20. Aptech, Oracle, Mphasis and Patni Computer shed 2% each.

Over 1.86 crore Sesa Goa shares changed hands on the BSE followed by Reliance Natural Resources (1.67 crore shares), Apollo Tyre (0.74 crore shares), IFCI (0.67 crore shares) and Cals Refineries (0.62 crore shares).

Value-wise, Reliance Industries registered a turnover of Rs395 crore on the BSE followed by Reliance Capital (Rs277 crore) and Sesa Goa (Rs239 crore). 

European Indices at 16:00 IST on 23-09-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

12090.59

-

-

Hang Seng Index

18872.85

-759.35

-3.87

Kospi Index

1481.37

21.03

1.44

Straits Times Index

2476.51

-67.62

-2.66

Jakarta Composite Index

1873.10

-24.24

-1.28

Asian Indices at close on 23-09-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

5133.11

-103.15

-1.97

CAC 40 Index

4164.60

-58.90

-1.39

DAX Index

6074.66

-33.09

-0.54

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

 

Manage your newsletter subscriptions

 

__._,_.___
Regards

BigGains !!
Recent Activity
Visit Your Group
Yahoo! Finance

It's Now Personal

Guides, news,

advice & more.

Ads on Yahoo!

Learn more now.

Reach customers

searching for you.

Yahoo! Groups

Discover healthy

living groups and

live a full life.

.

__,_._,___

No comments: