Sensex

Wednesday, October 15, 2008

DG - FW: Sharekhan Post-Market Report dated October 15, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 15 October 2008 17:15
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated October 15, 2008

 

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October 15, 2008

 

Index Performance

Index

Sensex

Nifty

Open

11,245.27

3,517.90

High

11,257.15

3,518.50

Low

10,760.33

3,324.55

Today's Cls

10,809.12

3,338.40

Prev Cls

11,483.40

3,518.65

Change

-674.28

-180.25

% Change

-5.87

-5.12

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

EIH

105.55

2.73

Indian Oil Corporation

374.90

2.59

Gujarat NRE Coke

37.65

2.03

India Cement

97.85

1.72

India Infoline

58.60

1.47

Losers

NDTV

129.70

-17.34

Essar Oil

98.10

-16.23

JP Associates

72.70

-14.47

Areva

903.95

-14.37

Titan Industries

803.65

-14.05

Market Statistics

-

BSE

NSE

Advances

499

201

Declines

2,117

1,335

Unchanged

39

20

Volume(Nos)

22.25cr

45.23cr

 Market Commentary 

Below 11k again

The Sensex remained bearish all through the session amid weakness across the international markets and was down 674 points at the close.

The Sensex had witnessed a pull back in the last two days and had surged around 1,000 points on a strong buying support. However, the bears hit back strongly and

 

triggered a major sell-off in the market during the intra-day trades. Tracking subdued Asian markets, the Sensex began the session below its previous close and continued to slide on sustained selling in frontline stocks. After plunging below the 11,000 mark to touch the day's low of 10,760, the market moved within a range with a negative bias. The market witnessed panic selling towards the close and the Sensex ended the session with a loss of 674 points at 10,809 whereas Nifty shed 180 points to close at 3,338.

All the 13 sectoral indices ended lower. The BSE CG and BSE CD dropped over 8% each, while BSE Metal, BSE Teck, BSE Power, BSE IT, BSE Oil & Gas were down over 5-7% each.

The breadth of the market was extremely negative. Of the 2,655 stocks traded on the BSE, 2,117 stocks declined whereas 499 stocks advanced. Thirty nine stocks ended unchanged. All the Sensex stocks ended in the red. JP Associates was a major loser and tumbled by 14.47% at Rs72.70. Reliance Communications at Rs235.80, Reliance Infrastructure at Rs555.70, Larsen & Toubro at Rs893.15, Tata Steel at Rs273.25, Sterlite Industries at Rs292.15 slumped over 10-12% each. Among the other major losers Tata Consultancy Services dropped 8.46% at Rs542.05, ICICI Bank lost 7.36% at Rs414.20, HDFC fell 6.90% at Rs1,712.60 and Hindalco Industries declined by 6.70% at Rs79.40. 

Capital goods stocks lost ground on profit taking. Areva T&D India dropped 14.37% at Rs903.95, Punj Lloyd slumped 13.30% at Rs186.10, Crompton Greaves shed 12.65% at Rs191.65 and Thermax slipped by 12.12% at Rs299.75. Usha Martin, Walchand, Elecon Engineering Company and Suzlon Energy also ended weak.

Strong buying was evident in several small-cap stocks. Binayak Tex Processors at Rs22.25 and Maharashtra Polybutenes at Rs74.35 hit their new highs. 

Over 1.05 crore Core Project and Technologies shares changed hands on the BSE followed by Reliance Natural Resources (0.92 crore shares), Cals Refineries (0.76 crore shares), IFCI (0.58 crore shares) and JP Associates (0.44 crore shares).

European Indices at 16:30 IST on 15-10-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

4263.14

-131.07

-2.98

CAC 40 Index

3552.97

-75.55

-2.08

DAX Index

5095.70

-103.49

-1.99

Asian Indices at close on 15-10-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

9547.47

-99.90

1.06

Hang Seng Index

15998.30

-834.58

-4.96

Kospi Index

1340.28

-27.41

-2.00

Straits Times Index

2059.39

-68.92

-3.24

Jakarta Composite Index

1520.40

-35.56

-2.29

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