Sharekhan Post-Market Report dated October 08, 2008

 

Sharekhan's daily newsletter   October 08, 2008   Index Performance Index Sensex Nifty Open 11,316.24 3,604.40 High 11,405.73 3,604.40 Low 10,740.76 3,329.45 Today's Cls 11,328.36 3,513.65 Prev Cls 11,695.24 3,606.60 Change -366.88 -92.95 % Change -3.14 -2.58   Market Indicators Top Movers (Group A) Company Price  (Rs) % chg Gainers Edelweiss Capital 400.85 9.91 Ranbaxy 279.25 9.08 Godrej Industries 104.70 5.02 Tata Power 804.60 4.79 NALCO 374.40 4.22 Losers United Spirits 939.30 -17.52 Aban Offshore 1,082.00 -17.49 Gujarat NRE Coke 38.70 -16.77 Bajaj Holdings 349.80 -16.50 Spice Tele 37.95 -15.76 Market Statistics - BSE NSE Advances 441 152 Declines 2,165 1,360 Unchanged 46 10 Volume(Nos) 32.42cr 61.51cr  Market Commentary  Late buying trims losses A late round of buying helped the market pare most of the losses and Sensex shed 367 points at the close. The Sensex bucked the major downtrend across the Asian markets and trimmed 580 points of losses on late buying in heavyweights. The market was once again hit     by a substantial selling pressure and both Sensex and Nifty tumbled by above 8% amid a choppy trading session. Taking cue from weak global markets, Sensex opened on a negative note at 11,316 and fell sharply to touch an intra-day low of 10,741. While the market witnessed a fluctuating trend for a while, the afternoon trades saw sudden buying interest in frontline stocks and Sensex chopped off most of its losses to close at 11,328, down 367 points or 3.14%. Nifty, too, bounced back sharply and closed at 3,514, down 93 points. The market breadth was negative. Of the 2,652 stocks traded on the BSE, 2,165 stocks declined whereas only 441 stocks advanced. Fourty six stocks ended unchanged. All the 13 sectoral indices were largely weak. The BSE CD index lost 6.75%, BSE FMCG index declined by 5.18% and BSE IT shed 4.90%. The remaining indices lost 1-4%. Among the 30 Sensex stocks, 24 ended in the red. Among the major losers JP Associates tanked by 9.91% at Rs90.95, Wipro tumbled by 7.91% at Rs282.35, Sterlite Industries declined by 6.85% at Rs292.55, ICICI Bank plunged by 6.53% at Rs453.50, State Bank of India dropped 6.10% at Rs1322.15, Tata Steel crumbled by 5.36% at Rs338.20, Satyam Computer  Services slumped 5.14% at Rs264.70, ITC fell by 5.13% at Rs165.60 and Tata Consultancy Services declined by 5.07% at Rs546.60. However, Ranbaxy Laboratories advanced 9.08% at Rs279.25, Tata Power jumped 4.79% at Rs804.60, Mahindra & Mahindra surged 2.75% at Rs486 and DLF gained 1.95% at Rs308.80, while Reliance Communications closed with marginal gains. Over 2.23 crore JP Associates shares changed hands on the BSE followed by Reliance Natural Resources (1.25 crore shares), GVK Power and Infrastructure (1.22 crore shares), Chambal Fertilizers & Chemicals (0.78 crore shares) and IFCI (0.70 crore shares). Reliance Industries was the most actively traded counter on the BSE and registered a turnover of Rs434 crore followed by Reliance Capital (Rs287 crore), ICICI Bank (Rs251 crore), JP Associates (Rs209 crore) and the State Bank of India (Rs152 crore). European Indices at 17:20 IST on 08-10-2008 Index Level Change (pts) Change (%) FTSE 100 Index 4607.92 2.70 0.06 CAC 40 Index 3708.47 -23.75 -0.64 DAX Index 5254.12 -72.51 -1.36 Asian Indices at close on 08-10-2008 Index Level Change (pts) Change (%) Nikkei 225 9203.32 -952.58 -9.38 Hang Seng Index 15431.73 -1372.03 -8.17 Kospi Index 1286.69 -79.41 -5.81 Straits Times Index 2033.61 -143.94 -6.61 Jakarta Composite Index 1451.66 -168.05 -10.38

 

 

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