Sharekhan Post-Market Report dated November 21, 2008

 

Sharekhan's daily newsletter   November 21, 2008   Index Performance Index Sensex Nifty Open 8,446.74 2,553.60 High 8,988.03 2,718.60 Low 8,442.31 2,539.80 Today's Cls 8,915.21 2,693.45 Prev Cls 8,451.01 2,553.15 Change 464.20 140.30 % Change 5.49 5.50   Market Indicators Top Movers (Group A) Company Price  (Rs) % chg Gainers Reliance Infra 485.20 14.07 Reliance Comm 207.10 13.64 GVK Power 14.67 13.28 IVRCL Infra 131.75 12.18 Deccan Chronicle 44.70 11.75 Losers Ultratech Cement 285.00 -9.50 Unitech 31.85 -9.39 JSW Steel 204.40 -7.66 United Spirits 699.95 -6.62 Future Capital 147.60 -6.43 Market Statistics - BSE NSE Advances 1,177 621 Declines 1,293 560 Unchanged 96 47 Volume(Nos) 27.57cr 59.26cr  Market Commentary  Market snaps seven days' losses Driven by sharp gains in heavyweight, power, oil & gas and capital goods stocks, the Sensex closed on a buoyant note at 8,915, higher 464 points. The market showed strong optimism today despite witnessing a fall in trades yesterday. The Sensex had a gap-up opening despite weak global cues.     However, buoyancy in heavyweights triggered a major rally and the Sensex rose sharply by mid-morning. Maintaining its upward bias thereafter, extensive buying in power, oil & gas and capital goods stocks propelled the index to touch an intra-day high of 8,988, up 537 points for the day. The Sensex finally ended the session with gains of 5.49% and was up 464 points at 8,915. Nifty moved up 140 points to close at 2,693.  However the market breadth was negative. Of the 2,566 stocks traded on the BSE, 1,293 stocks declined, whereas 1,177 stocks advanced. Ninety six stocks ended unchanged. All the sectoral indices notched up significant gains. BSE Power was the biggest gainer and soared 6.21% followed by BSE Oil & Gas (up 5.69%), BSE CG (up 5.59%), BSE Teck (up 5.22%), BSE PSU (up 5.04%) and BSE IT (up 4.85%). Among the 30 stocks in the Sensex basket, 26 ended at higher levels. Reliance Infrastructure led the upsurge and flared by 14.07% at Rs485.20. Among other major gainers, Reliance Communications surged 13.64% at Rs207, Sterlite Industries moved up by 9.10% at Rs218.75, National Thermal Power Corporation (NTPC) advanced 8.80% at Rs150.25, Maruti Suzuki India vaulted 8.73% at Rs525, HDFC shot up by 8.49% at Rs1,399, State Bank of India added 8.29% at Rs1,183.15, Tata Consultancy Services gained 7.89% at Rs506.55 and Bharat Heavy Electricals Ltd rose 7.29% at Rs1,281.25. While, DLF slipped 3.41% at Rs198.20, JP Associates lost 2.18% at Rs58.25, ACC dropped 2.08% at Rs399.45 and Tata Power was marginally down at Rs630.90. Power stocks saw strong buying action during the day. Followed by Reliance Infrastructure, GVK power & Infrastructure surged 13.28% at Rs14.67, NTPC soared 8.80% at Rs150.25, Suzlon Energy jumped 8.04% at Rs49.70 and Power Grid Corporation of India added 6.28% at Rs73.60. Oil & gas stocks also logged significant gains with Reliance Industries, ONGC, Reliance Petroleum, Cairn India, BPCL, IOC and GAIL soaring over 3-6% each. Over 2.04 crore share of Unitech changed hands on the BSE followed by GVK Power & Infrastructure (1.71 crore shares), Suzlon Energy (1.51 crore shares), Reliance Natural Resources (1.33 crore shares) and DLF (0.71 crore shares). European Indices at 16:00 IST on 21-11-2008 Index Level Change (pts) Change (%) FTSE 100 Index 3909.79 34.80 0.90 CAC 40 Index 3041.11 60.69 2.04 DAX Index 4253.31 33.11 0.78 Asian Indices at close on 21-11-2008 Index Level Change (pts) Change (%) Nikkei 225 7910.79 207.75 2.70 Hang Seng Index 12659.20 360.64 2.93 Kospi Index 1003.73 55.04 5.80 Straits Times Index 1662.10 48.15 2.98 Jakarta Composite Index 1146.27 -8.69 -0.75

 

 

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