| | | | Index Performance | | Index | Sensex | Nifty | | Open | 16,884.09 | 5,203.35 | | High | 17,068.57 | 5,203.35 | | Low | 15,332.42 | 4,448.50 | | Today's Cls | 16,729.94 | 4,899.30 | | Prev Cls | 17,605.35 | 5,208.80 | | Change | -875.41 | -309.50 | | % Change | -4.97 | -5.94 | | | | Market Indicators | | Top Movers (Group A) | | Company | Price
(Rs) | %
chg | | Gainers | | Indian Bank | 201.50 | 8.07 | | Kotak Bank | 1,009.55 | 4.17 | | Finolex Cables | 92.40 | 3.13 | | Nirma | 197.00 | 2.82 | | Pfizer | 659.95 | 2.77 | | Losers | | Sterlite Tech | 157.95 | -31.31 | | Omaxe | 224.75 | -30.22 | | Neyveli Lignite | 117.80 | -28.50 | | Ispat Industries | 33.70 | -23.50 | | Edelweiss Capital | 857.90 | -23.07 | | | Market Statistics | | - | BSE | NSE | | Advances | 152 | 82 | | Declines | 2,273 | 1,068 | | Unchanged | 29 | 9 | | Volume(Nos) | 38.07cr | 80.08cr | | | | | | Market Commentary | | | Sensex drops 5% amidst high drama | | The market erased most of its losses from the early crash, with the Sensex ending 4.97% lower and the Nifty dipping by 5.94% at close. | | The market witnessed the biggest carnage today with the trading coming to a halt within minutes of the opening bell following a sharp drop of over 10% on both the Bombay | | | | Stock Exchange (BSE) and the National Stock Exchange (NSE). Last time the market was suspended from trading was on October 17, 2007. Against the backdrop of weak Asian indices and yesterday's crash of over 1,400 points, the Sensex witnessed a free-fall and plunged below the 15,500 level to touch an intra-day low of 15,332, down 2,273 points. Following the resumption of trading in mid-morning, the Sensex and the Nifty recovered substantially from their earlier losses. The Sensex and Nifty traded above the 16,500 mark and the 4,800 level respectively after the finance minister issued a statement that there was no problem with the fundamentals of the economy and banks would provide enough liquidity. Finally, the Sensex ended 4.97% lower or 875 points down at 16,730, whereas the Nifty was down 5.94% or 309 points at 4,899.
The market breadth was overwhelmingly weak, with losers outnumbering gainers by 14.64:1 on the BSE. Of the 2,454 stocks traded on the BSE 2,273 stocks declined, 152 stocks advanced and 29 stocks ended unchanged. All the BSE sectoral indices continued to trade weak and dropped around 3-10% each. The BSE Oil & Gas Index was the major loser and lost 10% while the BSE Realty Index shed 9%.
Majority of the 30-Sensex stocks ended in the red. Among the major losers ONGC shed 13.62% at Rs962, ITC plunged 9.54% at Rs184, Hindalco crumbled 9.37% at Rs150, M&M crashed 9.14% at Rs611, Ambuja Cement slipped by 8.57% at Rs116, Cipla tumbled 8.14% at Rs175, HDFC lost 8.10% at Rs2,480, Reliance Industries dropped 7.32% at Rs2,358, Tata Steel slumped 7.11% at Rs671 and HLL fell by 6.78% at Rs186. Select front-line counters rebounded from their intra-day lows and ended in the green. Bharti Airtel rose 2.54% at Rs849 while Tata Motors gained marginally at Rs658.
Over 3.74 crore RNRL shares changed hands on the BSE followed by Reliance Petroleum (3.08 crore shares), Ispat Industries (2.32 crore shares), IFCI (2.20 crore shares) and Tata Teleservices (1.44 crore shares).
Valuewise, Reliance Industries registered a turnover of Rs440 crore followed by Reliance Petroleum (Rs413 crore), RNRL (Rs404 crore), Reliance Energy (Rs367 crore) and ICICI Bank (Rs175 crore). | | | | | | | | European Indices at 16:10 IST on 22-01-2008 | | | | Index | Level | Change (pts) | Change (%) | | FTSE 100 | 5586.60 | 8.40 | 0.15 | | CAC 40 Index | 4722.81 | -21.64 | -0.46 | | Dax Index | 6643.27 | -148.07 | -2.16 | | | | | | | | | | | Asian Indices at close on 22-01-2008 | | | | Index | Level | Change (pts) | Change (%) | | Nikkei | 12573.05 | -752.89 | -5.65 | | Hang Seng | 21757.63 | -2061.23 | -8.65 | | Kospi Composite | 1609.02 | -74.54 | -4.43 | | Straits Times | 2866.55 | -50.60 | -1.73 | | Jakarta Composite | 2294.52 | -191.35 | -7.70 | | | | | | | | 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 | |
