Sensex

Saturday, October 04, 2008

DG - FW: Sharekhan Post-Market Report dated October 03, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 03 October 2008 17:56
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated October 03, 2008

 

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October 03, 2008

 

Index Performance

Index

Sensex

Nifty

Open

12,899.62

3,953.55

High

13,001.19

3,969.55

Low

12,472.61

3,804.85

Today's Cls

12,526.32

3,818.30

Prev Cls

13,055.67

3,950.75

Change

-529.35

-132.45

% Change

-4.05

-3.35

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Ranbaxy

263.85

4.83

REC

83.70

2.95

Dr Reddy's

547.40

2.92

BPCL

371.15

2.41

Sun Pharma

1,484.55

2.20

Losers

Aban Offshore

1,750.40

-14.22

Spice Tele

66.20

-12.89

Jindal Steel

1,151.20

-11.37

United Phosphorus

271.25

-11.34

India Infoline

89.95

-10.32

Market Statistics

-

BSE

NSE

Advances

669

321

Declines

1,924

1,157

Unchanged

51

29

Volume(Nos)

24.26cr

44.02cr

 Market Commentary 

Global meltdown weighs heavy

Sensex ends 529 points lower after crashing to a low of 12,526 during intra-day trades.

A sell-off in Asian markets followed by that in the European markets sent the Sensex tumbling over 580 points for the day. The market opened in the red at

 

12,900, down 156 points, tracking a sharp fall in the US and Asian indices and touched the day's low of 12,473 on relentless selling in metal, oil & gas and consumer durable (CD) stocks. The metal index closed 7% down, as investors turned negative on the sector amid fears of global credit squeeze. Sensex finally closed with a loss of 4.05% or 529 points at 12,526 and Nifty shed 132 points to close at 3,818.

The market breadth was extremely negative. Of the 2,644 stocks traded on the BSE, 1,924 stocks declined, whereas 669 stocks advanced. Fifty one stocks ended unchanged. All the sectoral indices were battered. Among the major losers, the BSE Metal lost 7.01%, BSE Oil & Gas dropped 5.74%, BSE CD shed 4.24%, BSE Bankex declined by 3.88% and BSE Teck fell 3.39%.

Of the 30 stocks of the Sensex only three closed in the green. Among the major losers Tata Steel plummeted by 10.22% at Rs393.80, ICICI Bank tanked by 8.51% at Rs504.50, Sterlite Industries dropped 7.84% at Rs395.75 and Reliance Industries slumped 7.84% at Rs1760. Tata Power crumbled by 6.13% at Rs888.50, HDFC shed 5.57% at Rs2081.55 and Reliance Infrastructure slipped 5.15% at Rs741.25. Larsen & Toubro at Rs1,158.45, Infosys Technologies at Rs1,390.95, Bharti Airtel at Rs756.45, Reliance Communications at Rs333.20, DLF at Rs336.40, Tata Motors at Rs756.45 and Tata Motors at Rs330.70 shed over 2-4% each. 

Metal stocks lost heavily. Jindal Steel tumbled by 11.37% at Rs1,151.20, JSW Steel shed 9.68% at Rs410.65, Sterlite Industries lost 7.84% at Rs395.75 and Sesa Goa declined by 7.44% at Rs108.20. The Oil counters too bore the brunt and fell sharply. Aban Offshore, Cairn India, Gail India, Reliance Natural Resources Ltd (RNRL), Essar Oil, Reliance Petroleum Ltd (RPL), ONGC and OIL shed over 2-7% each.

Over 1.23 crore shares of Cals Refineries changed hands on the BSE followed by RNRL (1.04 crore shares), IFCI (0.67 crore shares), Chambal Fertlisers and Chemicals (0.51 crore shares) and RPL (0.49 crore shares).

European Indices at 17:30 IST on 03-10-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

4889.52

19.18

0.39

CAC 40 Index

3968.31

5.03

0.13

DAX Index

5694.95

34.32

0.61

Asian Indices at close on 03-10-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

10938.14

-216.62

-1.94

Hang Seng Index

17682.40

-528.71

-2.90

Kospi Index

1419.65

-20.02

-1.39

Straits Times Index

2297.12

-66.48

-2.81

Jakarta Composite Index

1832.50

-13.58

-0.74

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