Sensex

Monday, November 24, 2008

DG - FW: Sharekhan Post-Market Report dated November 24, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 24 November 2008 16:28
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated November 24, 2008

 

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November 24, 2008

 

Index Performance

Index

Sensex

Nifty

Open

8,840.53

2,690.85

High

9,042.02

2,740.35

Low

8,701.93

2,633.80

Today's Cls

8,903.12

2,708.25

Prev Cls

8,915.21

2,693.45

Change

-12.09

14.80

% Change

-0.14

0.55

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Spice Tele

30.55

19.10

United Spirits

804.70

14.97

EIH

100.00

7.70

Indian Oil Corporation

406.55

7.14

HPCL

243.45

6.57

Losers

Bhushan Steel

466.70

-13.01

Sesa Goa

62.70

-10.68

Unitech

28.95

-9.11

Jai Corp

91.30

-8.93

Patni Computer

112.45

-8.28

Market Statistics

-

BSE

NSE

Advances

1,060

471

Declines

1,382

687

Unchanged

75

50

Volume(Nos)

22.43cr

48.58cr

 Market Commentary 

Back to square one

The Sensex shrugged off its early volatility and ended on a buoyant note amid gains in power and oil & gas stocks.

A late bout of hectic buying in power, oil & gas, fast moving consumer goods and other heavyweights triggered a major rally in the Sensex, which otherwise lingered in

 

the negative territory for a better part of the day. On the back of weak Asian indices, the Sensex witnessed extreme volatility in early trades. After resuming weak at 8,840 the index fell sharply and touched the intra-day low of 8,702. Thereafter the index began to gain sharply on substantial buying, taking the benchmark index to the day's high of 9,042. While the market remained subdued thereafter, the Sensex on fresh buying support rebounded sharply at close. The Sensex finally ended the session with marginal loss of 12 points at 8,903, while the Nifty advanced 15 points to close at 2,708. 

Sectoral indices posted mixed results for the day. BSE Power led the pack with a surge of 1.94% followed by BSE Oil & Gas, which gained 1.37%, and BSE FMCG, which moved up 1.09%. BSE Teck, BSE HC, BSE Auto, BSE IT and BSE PSU gained marginally and closed in the positive territory. Among the losers, BSE Reality and BSE Bankex dropped over 3% each.

Leading the surge, Reliance Infrastructure flared up 4% at Rs504.60. Among other major gainers Maruti Suzuki India shot up by 3.64% at Rs529.95, Tata Power rose 3.57% at Rs653.45, Tata Consultancy Services jumped by 2.79% at Rs520.70 and Bharti Airtel added 2.73% at Rs636. National Thermal Power Corporation, Wipro, Bharat Heavy Electricals Ltd, Reliance Industries Ltd and Infosys gained 1-2% each. Select frontline counters, however, witnessed profit taking. Satyam Computers dropped 4.57% at Rs229.60, while ICICI Bank declined 3.87% at Rs322.55. DLF, Mahindra & Mahindra, State Bank of India and HDFC Bank ended with steady losses. 

Among other major gainers Spice Telecom soared 19.10% at Rs30.55, United Spirits surged 14.97% at Rs804.70, EIH rose 7.70% at Rs100 and Indian Oil Corporation added 7.14% at Rs406.55.

Over 1.65 crore shares of Unitech changed hands on the BSE followed by GVK Power & Infrastructure (1.19 crore shares), Suzlon Energy (1.09 crore shares), Reliance Natural Resources Ltd (0.88 crore shares) and Reliance Capital (55.81 lakh shares). 

European Indices at 16:00 IST on 24-11-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

3953.64

172.68

4.57

CAC 40 Index

3011.72

130.46

4.53

DAX Index

4288.38

160.97

3.90

Asian Indices at close on 24-11-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

7910.79

-

-

Hang Seng Index

12457.94

-201.26

-1.59

Kospi Index

970.14

-33.59

-3.35

Straits Times Index

1620.29

-41.81

-2.52

Jakarta Composite Index

1141.40

-4.87

-0.42

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