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DG - FW: Sharekhan Post-Market Report dated August 01, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 01 August 2008 16:46
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated August 01, 2008

 

 

 Sharekhan's daily newsletter

Visit us at www.sharekhan.com

 

August 01, 2008

 

Index Performance

Index

Sensex

Nifty

Open

14,064.26

4,331.60

High

14,682.33

4,422.95

Low

14,032.87

4,235.70

Today's Cls

14,656.69

4,413.55

Prev Cls

14,355.75

4,332.95

Change

300.94

80.60

% Change

2.10

1.86

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

HMT

78.35

9.96

India Infoline

710.20

9.70

IFCI

49.95

8.71

JP Associates

170.45

8.67

GMDC

273.90

8.52

Losers

Reliance Comm

436.80

-12.65

Gammon India

201.40

-5.00

Tata Tea

724.45

-4.67

Tata Power

1,116.50

-3.76

Nagarjuna Construction

125.95

-3.45

Market Statistics

-

BSE

NSE

Advances

1,551

729

Declines

1,108

474

Unchanged

73

35

Volume(Nos)

41.67cr

70.50cr

 Market Commentary 

Volatile market ends buoyant 

Led by buying in JP Associates and SBI, the Sensex recovered smartly in afternoon and ended firm at 14,657.

The market wiped out losses of over 323 points incurred in the first half after a strong bout of buying led by JP Associates, SBI and HDFC triggered wide-spread buying.  

 

In a highly volatile session, the Sensex resumed 292 points lower at 14,064 following weakness in Asian indices and crashed to the day's low of 14,033 on relentless selling. While the market was on a recovery path thereafter, the Sensex witnessed a sharp turnaround in afternoon as gains in heavyweights, capital goods (CG), power and PSU stocks propelled it to an intra-day high of 14,682. After gyrating over 600 points during the intra-day trades, the Sensex gained 301 points to close at 14,657, while the Nifty ended 81 points higher at 4,414. 

However, the market breadth was positive. Of the 2,732 stocks traded on the BSE 1,551 stocks advanced, 1,108 stocks declined and 73 stocks ended unchanged. 

The BSE CG index led the pack and gained 3.84% followed by the BSE Power index (up 3.40%), the BSE PSU index (up 3.27%), the BSE Oil & Gas index (up 3.26%) and the BSE Bankex (up 3.26%). The BSE Auto & FMCG indexes closed with marginal losses.

JP Associates was the star performer among the heavyweights and the stock soared 8.67% at Rs170.45. Among the other major gainers, SBI advanced 6.05% at Rs1,500.30, HDFC jumped 5.51% at Rs2,402.20, Reliance Infra rose 4.71% at Rs1,010.60, BHEL moved up by 4.61% at Rs1,756.50, Reliance Industries advanced 4.24% at Rs2,299.75, Wipro gained 3.99% at Rs432.60 and Tata Steel added 3.67% at Rs176.70. However, Reliance Communications was down by 12.65% followed by Tata Power, Maruti Suzuki India, Hindustan Unilever, ACC, Tata Motors, Hindalco and ITC- all inched lower.

CG stocks were in demand and scaled higher. Suzlon Energy soared 7.14% at Rs238.70, Kalpataru flared up 6.35% at Rs805.60, Crompton Greaves added 5.56% at Rs249.75, Siemens gained 5.28% at Rs575.60, Punj Lloyd and BHEL was up 4.61% at Rs1,756.50. 

Over 3.78 crore Reliance Natural Resources shares changed hands on the BSE followed by IFCI (2.28 crore shares), Ispat Industries (2.04 crore shares), Cybermate (2.02 crore shares), Reliance Communications (1.44crore shares) and Nagarjuna Fertilisers (1.07 crore shares).

European Indices at 16:10 IST on 01-08-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

5407.40

-4.50

-0.08

CAC 40 Index

4372.97

-19.39

-0.44

DAX Index

6446.84

-32.72

-0.50

Asian Indices at close on 01-08-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

13094.59

-282.22

-2.11

Hang Seng Index

22862.60

131.50

0.58

Kospi Index

1573.77

-20.90

-1.31

Straits Times Index

2906.07

-23.58

-0.80

Jakarta Composite Index

2248.75

-55.75

-2.42

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