Sensex

Monday, March 31, 2008

DG - FW: Sharekhan Post-Market Report dated March 31, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 31 March 2008 19:23
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated March 31, 2008

 

 

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March 31, 2008

 

Index Performance

Index

Sensex

Nifty

Open

16,226.66

4,942.15

High

16,226.66

4,947.00

Low

15,563.15

4,703.85

Today's Cls

15,644.44

4,734.50

Prev Cls

16,371.29

4,942.00

Change

-726.85

-207.50

% Change

-4.44

-4.20

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Alstom Projects

581.85

6.40

Spice Tele

27.75

5.92

Cummins India

317.80

4.99

Shree Precoated Steel

180.00

4.99

ABG Shipyard

720.00

4.93

Losers

Indiabulls Financial

414.20

-12.23

Reliance Capital

1,229.50

-12.08

Adlabs Films

613.15

-10.34

India Infoline

770.15

-10.10

Godrej Industries

259.35

-9.68

Market Statistics

-

BSE

NSE

Advances

1,365

437

Declines

1,291

742

Unchanged

43

18

Volume(Nos)

33.02cr

57.73cr

 Market Commentary 

Market sinks on bear hammering

The Sensex plummeted 805 points on across-the-board selling pressure.

The market went into a complete tailspin as the much-awaited correction shaved nearly 800 points off the Sensex during intra-day trades.  

 

Global positive cues like further cooling off of the oil prices failed to lift the sentiment, as investors tracked the falling Asian indices since early trades instead. The Sensex resumed 144 points lower at 16,227 and lost more ground as the trading progressed. The market witnessed a steep fall in early noon trades as selling in heavyweights, Bankex, realty and information technology (IT) dragged the index below the 16,000 mark to the day's low of 15,563. After lingering in negative territory thereafter, the Sensex wrapped up the session at 15,644, down 727 points, while the Nifty shed 208 points to close at 4,735.

Movers & Shakers

  • Sun Pharmaceuticals declined inspite of the report that the company has launched generic Amifostine injection.
  • Larsen & Toubro, which bagged a Rs576-crore order from HPCL, ended at lower levels.
  • Suven Life Sciences ended lower despite announcing two product patents in Korea and Mexico.
  • Mahindra & Mahindra rose on reports that the company has signed a MoU with government of Maharashtra to invest an additional Rs1,500 crore at Chakan Greenfield.
  • BL Kashyap & Sons gained marginally on report that the Company has bagged new projects worth over Rs344 crore for the construction of ~3.60 million sq ft of space.


However, the market breadth was marginally positive with the gainers outpacing the losers by 1:0.4. Of the 2,699 stocks traded on the BSE, 1,365 stocks advanced, 1,291 stocks declined and 43 stocks ended unchanged. All the sectoral indices took sharp beating. The BSE Bankex index bore the major brunt and crashed 5.89% at 7,718, while the BSE IT index, the BSE Realty index, the BSE Metal index, the BSE Oil& Gas index and the BSE Teck index dropped over 3-5% each.

Of the 30 stocks in the Sensex pack, 26 ended in red. Among the major losers, HDFC tumbled 8.79% at Rs2,383.75, ICICI Bank slumped 7.79% at Rs770.10, DLF crumbled 7.07% at Rs646.50 and TCS plunged 6.80% at Rs810.90. Infosys dropped 6.30% at Rs1,430, Wipro declined 6.32% at Rs425.30, Reliance Energy fell 6.19% at Rs1,251 and Hindalco moved down 6.10% at Rs164.75. Other frontline stocks also dropped over 1-5% each.

In the Bankex pack, Yes Bank tanked 7.61% at Rs168.75, Bank of India plummeted 7.11% at Rs252.90, Kotak Bank slumped 6.35% at Rs628.55 and HDFC Bank lost 5.79% at Rs1,319. Bank of Baroda, Centurion Bank of Punjab, Oriental Bank of India, SBI, Allahabad Bank, Punjab National Bank, UBI and Andhra Bank crashed over 3.5% each.

Over 2.33 crore Ispat Industries shares changed hands on the BSE followed by RNRL (1.32 crore shares), Orchid Chemicals (1.17 crore shares), IFCI (1.13 crore shares) and RPL (1.02 crore shares).

Valuewise, Reliance Capital clocked a turnover of Rs324 crore followed by GSS America (Rs289 crore), Reliance Industries (Rs257 crore), Orchid Chemicals (Rs187 crore) and RPL (Rs162 crore).

European Indices at 16:35 IST on 31-03-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

5677.70

-15.20

-0.27

CAC 40 Index

4680.04

-15.88

-0.34

DAX Index

6476.64

-83.26

-1.27

Asian Indices at close on 31-03-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

12525.54

-294.93

-2.30

Hang Seng Index

22849.20

-726.85

-4.44

Kospi Index

1703.99

2.16

0.13

Straits Times Index

3344.53

-

-

Jakarta Composite Index

2447.30

-30.29

-1.22

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