Sensex

Tuesday, December 23, 2008

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

 

 

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

 

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December 23, 2008

 

Index Performance

Index

Sensex

Nifty

Open

9,821.57

3,039.25

High

9,838.38

3,040.00

Low

9,643.56

2,957.05

Today's Cls

9,686.75

2,968.65

Prev Cls

9,928.35

3,039.30

Change

-241.60

-70.65

% Change

-2.43

-2.32

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

United Breweries

108.20

5.00

Bajaj Finserv

120.15

4.98

Jain Irrigation

333.85

4.13

Bajaj Hindusthan

62.70

4.07

MMTC

21,790.00

3.35

Losers

Satyam Computer

140.40

-13.55

IDFC

58.45

-12.57

JP Associates

78.50

-10.18

GMDC

38.65

-8.84

Jai Corp

92.80

-8.62

Market Statistics

-

BSE

NSE

Advances

725

214

Declines

1,752

990

Unchanged

82

32

Volume(Nos)

29.07cr

63.34cr

 Market Commentary 

Consumer durable, realty stocks spoil the broth

Led by heavy selling in consumer durable stocks Sensex dips by more than 242 points.

Continuing the bearish streak, the market witnessed another round of frenzied selling with correction in index heavyweights with consumer durable and realty  

 

stocks shaving off over 280 points during intra-day trades. After resuming 106 points lower at 9,822, Sensex remained under sustained selling pressure. Extensive correction in heavyweight, consumer durable, realty, banking and capital goods stocks dragged the index below 9,700 mark to the day's low of 9,644. Sensex finally ended the session at 9,687, down 242 points, while the Nifty shed 71 points to close at 2,969.

Market breadth was negative with 1,752 declines and 725 advances. Eighty two stocks ended unchanged. All the sectoral indices posted losses for the day. BSE CD index slipped sharply by 5.81% followed by BSE Realty (down 4.84%), BSE Bankex (down 3.76%), BSE CG (down 3.61%), BSE CG (down 3.07%), BSE Metal (down 2.48%), BSE Auto (down 2.36%), BSE IT (down 2.29%) and BSE Oil (down 2.29%).

Of the 30 Sensex stocks, 29 stocks lost ground whereas only one managed to end with steady gains. Among major losers, Satyam Computer Services slumped 13.55% at Rs140.40, JP Associates plummeted 10.18% at Rs78.50, Tata Motors tumbled 7.04% at Rs174.85, Sterlite Industries shed 6% at Rs263.80, Mahindra & Mahindra crashed 5.33% at Rs290.25, Larsen & Toubro dropped 4.89% at Rs774.85, DLF lost 4.40% at Rs301.85 and ICICI Bank declined nearly 4.32% at Rs426.80. Hindalco Industries, HDFC Bank, Ranbaxy Laboratories, Oil and Natural Gas Corporation, Maruti Suzuki India, Bharat Heavy Electrical Ltd, Reliance Infrastructure, Tata Consultancy Services, Reliance Industries, Hindustan Unilever, Tata Steel and Wipro fell over 1-3% each. However Reliance Communications gained 1.24% at Rs216.15.

Consumer durable stocks suffered sharp hammering. Titan Industries crumbled 7.68% at Rs932.65, Videocon Industries slumped 5.53% at Rs123, Rajesh Exports dropped 4.41% at Rs26 and Blue Star declined by 3.29% at Rs152.80.

Over 3.16 crore shares of Unitech changed hands on BSE followed by Suzlon Energy (1.85 crore shares), Reliance Natural Resources (1.67 crore shares), Satyam Computer Services (1.47 crore shares) and HDIL (1.36 crore shares).

European Indices at 16:00 IST on 23-12-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

4288.70

39.54

0.93

CAC 40 Index

3174.01

22.65

0.72

DAX Index

4654.45

15.43

0.33

Asian Indices at close on 23-12-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

8723.78

-

-

Hang Seng Index

14220.79

-401.60

-2.75

Kospi Index

1144.31

-35.30

-2.99

Straits Times Index

1724.54

-21.09

-1.21

Jakarta Composite Index

1343.71

-1.59

-0.12

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