Sharekhan Post-Market Report dated November 20, 2008

 

Sharekhan's daily newsletter   November 20, 2008   Index Performance Index Sensex Nifty Open 8,400.88 2,634.20 High 8,540.46 2,634.20 Low 8,316.39 2,502.90 Today's Cls 8,451.01 2,553.15 Prev Cls 8,773.78 2,635.00 Change -322.77 -81.85 % Change -3.68 -3.11   Market Indicators Top Movers (Group A) Company Price  (Rs) % chg Gainers Bosch 3,100.00 4.64 Indian Hotels 48.55 4.07 India Infoline 40.35 3.99 NALCO 156.90 3.63 Nagarjuna Construction 55.60 3.15 Losers BGR Energy 138.90 -12.09 HDIL 87.65 -11.06 Deccan Chronicle 40.00 -11.01 Triveni Engineering 33.65 -10.74 Unitech 35.15 -9.87 Market Statistics - BSE NSE Advances 594 235 Declines 1,899 967 Unchanged 68 28 Volume(Nos) 21.13cr 48.24cr  Market Commentary  Sensex acts valiant but late Pervasive selling saw the Sensex slip below the 8,350 mark, but selective buying towards the close led the index make up for losses. Weak global cues and negative breadth in yesterday's trades led the market open at a lower today. The Sensex was 373 points down at the opening   and remained subdued, as investors booked profits after the recent gains. Realty and consumer durables stocks took the major beating. The index faltered under selling pressure by afternoon and slipped to the day's low of 8,316. While the market fluctuated sharply thereafter, firm bullish sentiment and strong buying in heavyweights and fast moving consumer goods stocks in late trades helped the benchmark index erase most of the losses. The Sensex finally ended the session by shedding 3.68% or 323 points at 8,451. Nifty slipped 82 points at 2,553. The market breadth was negative. Of the 2,561 stocks traded on the BSE, 1,899 stocks declined whereas 594 stocks advanced. Seventy stocks ended unchanged. All the 13 sectoral indices ended in the red. BSE Realty dropped 8.30% followed by BSE CD (down 4.95%), BSE Oil & Gas (down 4.64%), BSE Bankex (down 4.32%), BSE Metal (down 4.18%) and BSE Auto (down 4.14%).  Heavyweights led the fall in the Sensex. DLF slipped 8.56% at Rs205.20, Reliance Communications slumped by 8.32% at Rs182.25, Sterlite Industries shed 7.96% at Rs200.50, ICICI Bank lost 7.87% at Rs320.35 and HDFC Bank was down 7.30% at Rs822.25. Among the laggards JP Associates moved down 6.70% at Rs59.55, Reliance Industries lost 6.66% at Rs1,058.60, Maruti Suzuki India declined 6.52% at Rs482.85, Tata Motors was down by 6.47% at Rs126.45 and Tata Power was down 6.39% at Rs633.90, while ACC, National Thermal Power Corporation, State Bank of India, Ranbaxy Laboratories and Hindustan Unilever Ltd ended with modest gains. Over 1.78 crore shares of GVK Power & Infrastructure changed hands on the BSE followed by Suzlon Energy (0.89 crore shares), Reliance Petroleum Ltd (0.86 crore shares), Reliance Natural Resources Ltd (0.72 crore shares) and HDIL (0.66 crore shares). European Indices at 16:00 IST on 20-11-2008 Index Level Change (pts) Change (%) FTSE 100 Index 3917.32 -88.36 -2.21 CAC 40 Index 2973.45 -114.44 -3.71 DAX Index 4213.07 -141.02 -3.24 Asian Indices at close on 20-11-2008 Index Level Change (pts) Change (%) Nikkei 225 7703.04 -570.18 -6.89 Hang Seng Index 12298.56 -517.24 -4.04 Kospi Index 948.69 -68.13 -6.70 Straits Times Index 1613.95 -51.64 -3.10 Jakarta Composite Index 1154.97 -25.38 -2.15

 

 

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