Sharekhan Post-Market Report dated October 27, 2008

 

Sharekhan's daily newsletter October 27, 2008   Index Performance Index Sensex Nifty Open 8,599.58 2,583.75 High 8,739.48 2,585.30 Low 7,697.39 2,252.75 Today's Cls 8,509.56 2,524.20 Prev Cls 8,701.07 2,584.00 Change -191.51 -59.80 % Change -2.20 -2.31   Market Indicators Top Movers (Group A) Company Price  (Rs) % chg Gainers Unitech 42.70 41.86 Godrej Industries 72.15 18.18 Indiabulls Real Estate 111.45 15.07 Nagarjuna Construction 48.75 12.59 Oracle Financial 477.35 10.26 Losers Glenmark Pharma 259.25 -20.00 Bajaj Holdings 290.00 -17.26 Cairn India 101.40 -15.89 Jet Airways 144.40 -15.73 United Phosphorus 143.10 -15.70 Market Statistics - BSE NSE Advances 515 224 Declines 2,019 1,247 Unchanged 43 12 Volume(Nos) 31.07cr 65.50cr  Market Commentary  Sensex drops by 192 points The market erased most of its losses from the early crash, with the Sensex ending 2.20% lower and the Nifty dipping by 2.32% at close.  The Sensex ended the day with a loss of 192 points after crashing to a low of 7,697 during intra-day trades. The market crashed by over 1,000 points,   in line with the other major global indices. The day started with the Sensex resuming 101 points lower at 8,701. It tanked by another 940 points to touch the day's low of 7,697 on relentless selling in CD, auto, FMCG and PSU stocks. The Sensex managed to recover around 850 points in the late trades, but still ended with a loss of 192 points at 8,510. The Nifty shed 2.31% or 60 points to close at 2,524. The market breadth was negative. Of the 2,577 stocks traded on the BSE 2,019 stocks declined, 515 stocks advanced and 43 stocks ended unchanged. Among the sectoral indices, the BSE CD Index tumbled 6.24%, the BSE Auto Index slipped 5.93%, the BSE FMCG Index lost 5.63% and the BSE PSU Index was down 5.43%. However, the BSE Reality, Teck and Oil & Gas indices gained marginally. Several index heavyweights came under selling pressure and ended in the red. Tata Motors was the major loser and tumbled by 13.95% at Rs140.05. Mahindra & Mahindra at Rs248, JP Associates at Rs53.40, Grasim Industries at Rs952.65, Tata Power at Rs570.25, SBI at Rs1,056.60 and L&T at Rs723.80 slumped by around 7-13% each.  Select counters logged significant gains on fresh buying support. Bharti Airtel bucked the downtrend and gained 5.99% at Rs566.45. RIL was up 5.83% at Rs1,074.70 whereas Reliance Infra, Reliance Communication, Sterlite Industries, ICICI Bank, TCS, Satyam and Infosys also gained marginally.  Over 2.73 crore Unitech shares changed hands on the BSE followed by Suzlon Energy (1.55 crore shares), IFCI (1.02 crore shares), RPL (10.07 crore shares) and Hindalco (83.02 lakh shares). European Indices at 16:00 IST on 27-10-2008 Index Level Change (pts) Change (%) FTSE 100 Index 3687.11 -196.25 -5.05 CAC 40 Index 2989.76 -204.03 -6.39 DAX Index 4126.21 -169.46 -3.94 Asian Indices at close on 27-10-2008 Index Level Change (pts) Change (%) Nikkei 225 7162.90 -486.18 -6.36 Hang Seng Index 11015.84 -1602.54 -12.70 Kospi Index 946.45 7.70 0.82 Straits Times Index 1600.28 0.00 0.00 Jakarta Composite Index 1166.41 -78.45 -6.30

 

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