| | | | Index Performance | | Index | Sensex | Nifty | | Open | 15,326.93 | 4,745.45 | | High | 15,326.93 | 4,745.45 | | Low | 14,738.27 | 4,482.10 | | Today's Cls | 14,809.49 | 4,503.10 | | Prev Cls | 15,760.52 | 4,745.80 | | Change | -951.03 | -242.70 | | % Change | -6.03 | -5.11 | | | | Market Indicators | | Top Movers (Group A) | | Company | Price
(Rs) | %
chg | | Losers | | Rajesh Exports | 79.65 | -15.58 | | Indiabulls Financial | 408.60 | -14.89 | | Yes Bank | 147.70 | -14.85 | | Alstom Projects | 511.85 | -14.84 | | Bajaj Holdings | 661.40 | -14.32 | | | Market Statistics | | - | BSE | NSE | | Advances | 282 | 78 | | Declines | 2,404 | 1,129 | | Unchanged | 30 | 12 | | Volume(Nos) | 33.23cr | 54.95cr | | | | | | Market Commentary | | | Heavyweight, auto stocks drag market down | | Weakness in heavyweights, consumer durables and banking stocks saw the Sensex shed over 1,000 points during the day. | | After the Sensex gained over 400 points on sustained all-round buying, the market was gloomy amid a range-bound trend during intra-day trades. | | | | After resuming 400 points down from the yesterday's close, the market continued to ease and slipped further in afternoon, as investors tracked weak Asian indices and remained concerned over foreign and domestic fund outflows from the market. Major corrections in Banking, consumer durables (CD), realty, metal and capital goods (CG) stocks saw the Sensex plunge deep into the red in late trades and slumped below the 14,800 mark to touch the intra-day low of 14,738, down over 6%. The Sensex finally closed the session with a loss of 951 points at 14,809, while the Nifty slipped 243 points to close at 4,503. | | | Movers & Shakers | - Sun Pharmaceutical Industries slipped despite getting US Food and Drug Administration’s (USFDA) approval to market generic Ethyol®
- Glenmark Pharmaceuticals closed in the red in spite of launching Clobetasol from its niche dermatology pipeline at Visakhapatnam
- ICRA moved down in spite of the report that the company has signed a Memorandum of Understanding (MoU) to rate bank loans under RBI's New Capital Adequacy Framework for Basel-II
| | | |
The market breadth was extremely weak. Of the 2,716 stocks traded on the BSE, 2,404 stocks declined, 282 stocks advanced and 30 stocks ended unchanged. Among the sectoral indices, the BSE CD index shed 9.69% at 3,638, while the BSE Bankex index declined 9.06% at 7,569.
Select heavyweights declined sharply on strong selling pressure. ICICI Bank tanked 13.76% at Rs757.40, Jaiprakash dropped 11.94% at Rs208.05, HDFC fell 11.07% at Rs2,225.55, Hindalco shed 9.20% at Rs164.85, REL lost 8.13% at Rs1,190.80, Tata Steel declined 7.93% at Rs658.50, DLF dipped 7.86% at Rs602.80 and L&T slumped by 7.03% at Rs2,703.50. Reliance Communications, Infosys, Grasim, Reliance Industies, Ranbaxy Laboratories and HDFC Bank shed over 5-6% each.
Select CD and CD stocks came under selling pressure. Rajesh Export slumped 15.58% at Rs79.65, Titan Industries declined 13.03% at Rs930.05, Lloyds element lost 11.37% at Rs97.80, Blue Star India fell 10.26% at Rs380.50, Gitanjali was down 7.89% at Rs233.35 and Videocon lost 7.46% at Rs279.30. In the Bankex segment, Yes Bank, Federal Bank, Allahabad Bank, Kotak Bank, Bank of India and Axis Bank were down by 7-14% each.
Over 2.26 crore RNRL shares changed hands on the BSE followed by RPL (1.37 crore shares), ISPAT Industries (1.11 crore shares), Essar Oil (0.56 crore shares) and IFCI (0.51 crore shares).
| | | | | | | | European Indices at 16:28 IST on 17-03-2008 | | | | Index | Level | Change (pts) | Change (%) | | FTSE 100 Index | 5499.90 | -131.80 | -2.34 | | CAC 40 Index | 4463.95 | -128.20 | -2.79 | | DAX Index | 6252.31 | -199.59 | -3.09 | | | | | | | | | | | Asian Indices at close on 17-03-2008 | | | | Index | Level | Change (pts) | Change (%) | | Nikkei 225 | 11787.51 | -454.09 | -3.71 | | Hang Seng Index | 21084.61 | -1152.50 | -5.18 | | Kospi Index | 1574.44 | -25.82 | -1.61 | | Straits Times Index | 2792.75 | -46.26 | -1.63 | | Jakarta Composite Index | 2312.31 | -71.10 | -2.98 | | | | | | | | 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 | |
