Sharekhan Post-Market Report dated June 26, 2008

Sharekhan's daily newsletter June 26, 2008 Index Performance Index Sensex Nifty Open 14,300.72 4,252.60 High 14,449.81 4,324.75 Low 14,196.68 4,230.00 Today's Cls 14,421.82 4,315.85 Prev Cls 14,220.07 4,252.65 Change 201.75 63.20 % Change 1.42 1.49   Market Indicators Top Movers (Group A) Company Price  (Rs) % chg Gainers Tata Comm 390.20 8.55 Maytas Infra 447.90 8.27 Bharat Forge 257.00 6.82 Chambal Fertilisers 81.15 6.71 Tata Chemicals 316.10 6.29 Losers Phoenix Mills 185.00 -8.42 Max India 164.75 -7.88 Brigade Enterprises 128.60 -7.18 Ansal Infra 78.85 -7.07 Triveni Engineering 77.00 -6.72 Market Statistics - BSE NSE Advances 1,483 663 Declines 1,143 513 Unchanged 72 42 Volume(Nos) 30.26cr 67.74cr  Market Commentary  Market ends higher amid volatility After witnessing a swing of 256 points in intra-day trades, the Sensex ended with steady gains on selective buying interest.  The market showed signs of easing off in the first half of the trading session as the Sensex dropped nearly 23 points, but a recovery in the afternoon and selective     buying towards the close saw it end higher for the second consecutive session. Exhibiting sharp volatility in early trades, the Sensex resumed with a huge positive gap of 80 points at 14,301 and soon touched the intra-day high of 14,450 on sustained buying support. However, the market soon drifted into negative territory, as a sharp bout of selling pressure dragged the index to an intra-day low of 14,197. The Sensex once again notched up significant gains on renewed buying support before profit taking saw the Sensex shed some gains and end the session at 14,422, up 202 points. However, after a mixed outing Nifty ended higher at 4,316, up 63 points. The market breadth was positive. Of the 2,698 stocks traded on the BSE, 1,483 stocks advanced, while 1,143 stocks declined and 72 stocks ended unchanged. Most of the sectoral indices ended with steady gains. However, the BSE Oil & Gas index gained 2.82% at 9,677 while the BSE IT index advanced by 2.12% at 4,181.  Select heavyweights helped the Sensex close at higher levels. Ambuja Cement rose 6% at Rs87.50, Wipro moved up 5.14% at Rs479.95, Reliance Industries advanced 4.87% at Rs2,239.25 and Cipla gained 4.36% at Rs216.65. Among the other major gainers, Satyam Computer Services jumped 3.28% at Rs459.80, Tata Motors notched up gains of 3.14% at Rs489.45 and HDFC gained 3.04% at Rs2,234.85.  However, Reliance Communications dropped 2.61% at Rs490, Maruti Suzuki India tumbled 2.44% at Rs670, Hindalco shed 2.12% at Rs142.35 and Ranbaxy Laboratories lost 2.03% at Rs529.50. DLF, Hindustan Unilever, Bharti Airtel and HDFC Bank also ended in negative territory. Select oil stocks rallied sharply. Gail India advanced 3.58% at Rs363.35, Reliance Petroleum added 1.85% at Rs173.55, Cairn India jumped 1.18% at Rs271.20 and ONGC gained 0.73% at Rs870.35. Realty stocks declined sharply on sustained selling pressure. Phoenix Mill tanked 8.42% at Rs185, Puravankara dropped 7.34% at Rs170.35, Ansal Properties shed 7.07% at Rs78.85, Mahindra Life lost 6.01% at Rs476.10 and HDFC dipped 5.89% at Rs450.20. Over 2.18 crore Chambal shares changed hands on the BSE followed by Nagarjuna Fertilisers (1.32 crore shares), Reliance Natural Resources (1.17 crore shares), Niraj Cement (1.09 crore shares) and IFCI (1crore shares).  European Indices at 16:28 IST on 26-06-2008 Index Level Change (pts) Change (%) FTSE 100 Index 5605.10 -61.00 -1.08 CAC 40 Index 4487.33 -48.96 -1.08 DAX Index 6535.19 -82.65 -1.25 Asian Indices at close on 26-06-2008 Index Level Change (pts) Change (%) Nikkei 225 13822.32 -7.60 -0.05 Hang Seng Index 22455.67 -179.49 -0.79 Kospi Index 1717.66 -0.13 -0.01 Straits Times Index 2980.95 -5.67 -0.19 Jakarta Composite Index 2350.89 9.53 0.41