| | | Index Performance | | Index | Sensex | Nifty | | Open | 13,034.27 | 3,818.75 | | High | 13,035.56 | 3,830.30 | | Low | 12,861.18 | 3,752.95 | | Today's Cls | 12,884.34 | 3,761.10 | | Prev Cls | 13,124.32 | 3,819.95 | | Change | -239.98 | -58.85 | | % Change | -1.83 | -1.54 | | | | Market Indicators | | Top Movers (Group A) | | Company | Price
(Rs) | %
chg | | Gainers | | Wockhardt | 395.65 | 5.99 | | Aurobindo Pharma | 650.00 | 3.80 | | Ranbaxy | 338.20 | 3.05 | | ING Vysya Bank | 173.65 | 2.90 | | IBP | 419.80 | 2.50 | | Losers | | Abbott India | 521.10 | -5.99 | | Rolta India | 331.55 | -5.53 | | United Phosphorus | 317.85 | -5.30 | | Thermax | 360.00 | -5.26 | | CMC | 1,207.15 | -5.18 | | | Market Statistics | | - | BSE | NSE | | Advances | 651 | 338 | | Declines | 1,936 | 1,055 | | Unchanged | 61 | 25 | | Volume(Nos) | 23.74cr | 38.05cr | | | | | | Market Commentary | | | Market plunges on weak global cues | | The weakness in the international markets coupled with high crude oil prices triggered a major sell-off that saw the Sensex shed 1.83% during the day. | | The market seems to be in a consolidation phase and the Sensex closed the session with losses of 240 points. | | | | The Sensex opened weak in line with the global indices at 13034, down 90 points and dipped below the 13000 mark. The unwinding of positions in the derivatives segment before the expiry day kept the market under pressure. The sustained selling in information technology, auto and telecom stocks saw the Sensex remain in negative territory. The market was range-bound with a negative bias in the afternoon. The information technology stocks were under pressure on concerns over the weak consumer confidence report indicating a possible slowdown in the US economy and the dollar hitting a low against the rupee. The sentiment was extremely bearish towards the close, which dragged the index to an intra-day low of 12861.The Sensex ended the session with losses of 240 points at 12884, while the Nifty shed 59 points and closed at 3761. | | | Movers & Shakers | - Satyam Computer Services slipped despite signing a five-year contract with Applied Materials to provide ADMS plus business transformation core technology services.
- Sterlite Optical closed in the red despite getting appointed to manufacture and supply power transmission conductors to PGCIL.
- Jagran Prakashan tumbled despite signing an agreement with Yahoo India for a co-branded Hindi news and current affairs Internet property.
- Glenmark slumped despite confirming an ANDA filing with a Paragraph IV certification for Zetia tablets.
- ABG Shipyard gained on securing a repeat order from Lamnalco worth $13.50 million.
- Wockhardt rallied sharply on receiving the US FDA approval for marketing Furosemide injections in the USA.
- TCS dipped despite announcing that the company & the Tata group will be selling their 50% holding in Sitel India to Sitel Corporation for US$22.2 million.
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The breadth of the market was exceedingly negative. Of the 2,648 stocks traded on the BSE, 1,936 stocks declined, 651 stocks advanced and 61 stocks ended unchanged. All the sectoral indices ended in the red. The BSE IT Index dropped 3.54% at 4832 followed by the BSE Teck Index (down 2.91% at 3486), the BSE Auto Index (down 2.63% at 4820), the BSE Bankex (down 2.27% at 6535) and the BSE CD Index (down 2.23% at 3565).
Out of the 30 Sensex stocks, 22 stocks closed in negative territory. Among the major losers TCS slumped 4.78% at Rs1,201, Wipro tumbled 4.77% at Rs558, Tata Motors plunged 4.65% at Rs719, SBI declined 3.89% at Rs974, Satyam Computer dipped 3.53% at Rs456, HDFC slipped 3.51% at Rs1,519, Infosys lost 3.15% at Rs1,992, L&T shed 3.08% at Rs1,566, Maruti fell 2.47% at Rs799 and Hindalco was down 2.36% at Rs130. However Ranbaxy bucked the downtrend and advanced 3.05% at Rs338. Dr Reddy's gained 1.83% at Rs694. ONGC, Reliance Energy, BHEL, ITC, HLL and ACC closed with marginal gains.
Information technology stocks continued to reel under sustained selling pressure. HCL Technology plummeted 4.75% at Rs288, Patni Computers tumbled 4.47% at Rs373, Financial Technologies dropped 3.07% at Rs1,917, Tech Mahindra shed 3.06% at Rs1,427 and Mphasis declined 1.77% at Rs275.
Over 20.64 lakh SAIL shares changed hands on the BSE followed by Gujarat Ambuja (18.63 lakh shares), Idea Celullar (18.42 lakh shares), Reliance Petroleum (17.63 lakh shares) and Reliance Communications (13.50 lakh shares).
Value-wise Infosys registered a turnover of Rs127 crore on the BSE followed by TCS (Rs85 crore), Reliance Industries (Rs78 crore), Reliance Communications (Rs56 crore) and BHEL (Rs47 crore).
| | | | | | | | European Indices at 16:22 IST on 28-03-2007 | | | | Index | Level | Change (pts) | Change (%) | | FTSE 100 | 6294.30 | 1.70 | 0.03 | | CAC 40 Index | 5572.54 | -14.52 | -0.26 | | DAX Index | 6834.13 | -24.21 | -0.35 | | | | | | | | | | | Asian Indices at close on 28-03-2007 | | | | Index | Level | Change (pts) | Change (%) | | Nikkei 225 | 17254.73 | -110.32 | -0.64 | | Hang Seng Index | 19553.87 | -152.92 | -0.78 | | Kospi Index | 1439.74 | -13.49 | -0.93 | | Straits Times Index | 3201.75 | -32.36 | -1.00 | | Jakarta Composite Index | 1800.39 | -19.27 | -1.06 | | | | | | | | | | | | “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.
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