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Monday, September 1, 2008

Sharekhan Post-Market Report dated September 01, 2008

 

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September 01, 2008

Index Performance

Index

Sensex

Nifty

Open

14,412.99

4,356.10

High

14,547.41

4,365.00

Low

14,281.10

4,281.35

Today's Cls

14,498.51

4,348.65

Prev Cls

14,564.53

4,360.00

Change

-66.02

-11.35

% Change

-0.45%

-0.26%

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

KSK Energy

187.20

6.79

Sintex Industries

328.70

6.34

Educomp Solutions

3,989.65

5.73

BEML

772.45

5.45

Areva

1,602.30

4.99

Losers

Rei Agro

1,333.30

-4.74

Aditya Birla Nuvo

1,257.95

-3.97

Ranbaxy

499.80

-3.61

Indiabulls Financial

241.40

-3.44

Phoenix Mills

182.25

-3.37

Market Statistics

-

BSE

NSE

Advances

1,329

561

Declines

1,255

640

Unchanged

96

36

Volume(Nos)

21.84cr

34.40cr

 Market Commentary 

Strong comeback at tail end

Though trading nearly more than 150 points lower for the predominant part of the day, the Sensex stages a robust pull back towards the tail end to post a loss of only 66 points.

Taking lead from weak global markets, the 30-stock Sensex of the BSE started the day with a pessimistic note—142 points lower at the opening bell.  

 

The index remained subdued during the major part of the day and trade more than 150 points lower, as investors booked profits for the Friday's surge. Metal, consumer durables and technology stocks took the major beating. The index faltered by afternoon and slipped to the day's low of 14,281—283 points below the previous close. While the market fluctuated sharply thereafter, firm bullish sentiment and strong buying in heavyweights and PSU stocks in late trades helped the Sensex erase most of its losses. The Sensex finally ended the session 0.45% or 66 points lower at 14,499. The Nifty slipped by 11 points at 4,349.

Movers & Shakers

  • Maharashtra Industrial surged on report that the company has decided to split the shares from the face value of Rs10 to Re1.
  • Gammon Infrastructure rallied sharply on receiving the letter of allotment for the development of the Youngthang Khab Hydro Electric Project on built-own-operate-transfer basis from the Government of Himachal Pradesh.


The market breadth was positive, as 50% stocks (1,329 stocks) advanced and 47% stocks (1,255 stocks) declined. Around 3% stocks (96 stocks) ended unchanged. 

Eight of the 13 sectoral indices ended in the red. The BSE Metal dropped 1.08% at 12,214 followed by the BSE CD (down 1.05% at 3,800.62) and the BSE Teck (down 0.89% at 3,046). However, the BSE PSU gained 0.31% at 6,768, the BSE Oil & Gas, the BSE FMCG, the BSE Bankex and the BSE Reality closed with marginal gains.

Heavyweights led the fall in the Sensex. Ranbaxy Laboratories slipped by 3.61% at Rs499.80, Tata Steel slumped by 2.67% at Rs584.30, Maruti Suzuki India shed 2.56% at Rs650.40 and Bharti Airtel lost 2.50% at Rs816.25. While Reliance Communications, Infosys, Hindustan Unilever, Tata Power and NTPC were down by over 1% each. 

Among the gainers ITC jumped 1.62% at Rs191.65, HDFC Bank gained 1.48% at Rs1,296.10, BHEL soared 0.90% at Rs1721.90, SBI rose by 0.88% at Rs1416 and Satyam Computer Services was up 0.85% at Rs423.40, while ONGC and ACC ended with modest gains.

On turnover front, over 3.31 crore Resurgere Mines & Minerals India shares changed hands on the BSE followed by Reliance Natural Resources (1.17 crore shares), Nutek India (65.53 lakh shares), Chambal Fertilisers & Chemicals (53.22 lakh shares) and Noida Toll Bridge Company (44.57 lakh shares).

European Indices at 16:10 IST on 01-09-2008

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

5600.70

-35.90

-0.64

CAC 40 Index

4467.57

-15.03

-0.34

DAX Index

6395.33

-26.97

-0.42

Asian Indices at close on 01-09-2008

Index

Level

Change (pts)

Change (%)

Nikkei 225

12834.18

-238.69

-1.83

Hang Seng Index

20906.31

-355.58

-1.67

Kospi Index

1414.43

-59.81

-4.06

Straits Times Index

2713.79

-26.16

-0.95

Jakarta Composite Index

2164.62

-1.32

-0.06

 

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