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DG - FW: Sharekhan Post-Market Report dated September 12, 2008

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 12 September 2008 16:48
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated September 12, 2008

 

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September 12, 2008

 

Index Performance

Index

Sensex

Nifty

Open

14,432.08

4,291.60

High

14,433.20

4,323.90

Low

13,933.87

4,200.15

Today's Cls

14,000.81

4,228.45

Prev Cls

14,324.29

4,290.30

Change

-323.48

-61.85

% Change

-2.26

-1.44

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Essar Ship

81.20

4.98

NALCO

403.90

4.58

Maruti Suzuki

703.70

3.61

SAIL

139.90

3.10

Bajaj Auto

633.75

2.66

Losers

EIH

155.15

-7.81

GMDC

169.65

-7.75

Chambal Fertiliser

66.00

-7.69

Bajaj Holdings

151.40

-7.00

Indian Bank

126.40

-6.41

Market Statistics

-

BSE

NSE

Advances

818

249

Declines

1,848

961

Unchanged

74

36

Volume(Nos)

23.99cr

45.18cr

 Market Commentary 

Out of sorts, markets buckle

Selling pressure in most of the frontline counters saw the index dip for the fourth straight session

Nervousness gripped the market for the fourth consecutive session, as selling pressure since early trades saw the index remain weak all through the trading session.

 

Although the Sensex resumed 108 points above its previous close at 14432 and moved up to touch an early high of 14433, the market soon snapped gains owing to the emergence of selling pressure. As correction continued unabated, the index tumbled below the mark to touch the intra-day low of 13,934 by end of the trade. While the market languished in negative territory through the noon trades, the Sensex signed off the session with a loss of 323 points at 14001. The Nifty also ended in the red at 4228, down 62 points.

The market breadth was weak, as of the 2,739 stocks traded on the BSE, 67% stocks (1,848 stocks) declined, while only 30% stocks (818 stocks) advanced. 74 stocks ended unchanged. All the 13 sectoral indices ended at lower levels. The BSE IT index fell 4.60%, the BSE Realty index dipped 3.73%, the BSE Teck index shed 2.97% and the BSE Bankex was down 2.52%.

Among the draggers, Reliance Infrastructure dropped 7.16% at Rs921, Infosys Technologies shed 5.92% at Rs1,645.40, ICICI Bank tumbled 4.95% at Rs652.50, DLF declined 4.56% at Rs463.40, Tata Motors was down 4.51% at Rs405, HDFC tumbled 4.24% at Rs2,170 and Sterlite Industries lost 4.23% at Rs481.50. Reliance at Rs1,922, Tata Consultancy Services at Rs805, Mahindra & Mahindra at Rs542.90, Satyam Computer Services at Rs407 and Jai Prakash Associates at Rs156.90 were down around 3% each. 

Select index heavyweights managed to register decent gains. Maruti Suzuki India rose 3.61% at Rs703.70, BHEL gained 1.92% at Rs1,696.75, Hindustan Unilever scaled up 0.83% at Rs248.90, Bharti Airtel added 0.32% at Rs778.70 and NTPC jumped by 0.12% at Rs173.65.

IT stocks came under sharp hammering. NIIT slumped 5.35% at Rs79.55, Oracle lost 5.07% at Rs1,123.70, Rolta India declined 4.37% at Rs319.40 and HCL Technologies was down 3.68% at Rs228.90. Patni Computer Systems, Aptech, Mphasis, Tech Mahindra, Financial Technologies India and Wipro dipped 1-3% each.

Over 1.79 crore Reliance Natural Resources shares changed hands on the BSE followed by IFCI (1.45 crore shares), Chambal Fertilisers & Chemicals (0.55 crore shares), Austral Coke & Projects (0.55 crore shares) and Reliance Power (0.46 crore shares).

European Indices at 16:15 IST on 12-09-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

5369.70

51.30

0.96

CAC 40 Index

4289.17

40.10

0.94

DAX Index

6211.38

32.48

0.53

 

Asian Indices at close on 12-09-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

12214.76

112.26

0.93

Hang Seng Index

19352.90

-35.82

-0.18

Kospi Index

1477.92

34.68

2.40

Straits Times Index

2570.67

29.52

1.16

Jakarta Composite Index

1804.06

-66.07

-3.53

 

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