Sharekhan Post-Market Report dated December 01, 2008

 

Sharekhan's daily newsletter   December 01, 2008   Index Performance Index Sensex Nifty Open 9,162.94 2,755.15 High 9,326.68 2,832.85 Low 8,803.34 2,669.50 Today's Cls 8,839.87 2,682.90 Prev Cls 9,092.72 2,755.10 Change -252.85 -72.20 % Change -2.78 -2.62   Market Indicators Top Movers (Group A) Company Price  (Rs) % chg Gainers Mphasis 164.00 8.79 CESC 210.95 6.84 Piramal Healthcare 220.65 4.82 Dr Reddy's 447.55 4.53 Aditya Birla Nuvo 501.00 4.05 Losers GTL Infra 39.15 -11.72 Sterling Biotech 177.50 -10.51 DLF 178.50 -9.96 Maruti Suzuki 485.50 -9.40 Century Textiles 120.65 -9.18 Market Statistics - BSE NSE Advances 970 524 Declines 1,160 649 Unchanged 65 43 Volume(Nos) 21.73cr 49.52cr  Market Commentary  252 points lower Witnessing an intra-day swing of 524 points, the Sensex closes 252 points lower. The market saw high volatility during the day, as stocks gyrated between either sides of the zones throughout the session with the Sensex witnessing the     intra-day swing of 524 points. The market opened higher, buoyed by overnight gains in the US markets, but pared early gains as investors' sentiment turned cautious as the Sensex neared its intra-day high of 9,327 points. Thereafter, sustained selling in frontline, realty and auto stocks saw the Sensex enter into the negative territory. After displaying some range-bound moves, the market plunged deep into the red on heavy selling towards the close to touch the day's low of 8,803. The Sensex finally closed the session at 8,840, down 253 points. The Nifty closed at 2,683, down 72 points.  The breadth of the market was negative. Of the 2,195 stocks traded on the BSE, 1,160 stocks declined, whereas 970 stocks advanced. Sixty five stocks ended unchanged. Among the sectoral indices, BSE Realty shed 5.34%, BSE Auto declined 4.64% and BSE CD was down 4.47%.  Selective buying helped the index overcome its losses. Grasim Industries gained 1.75% at Rs904.80, Tata Steel advanced 1.69% at Rs153.50 and Tata Consultancy Services added 1.06% at Rs563.95. Sterlite Industries, Reliance Communications and JP Associates notched up steady gains. Selling was evident in select heavyweights. DLF dropped 9.96% at Rs178.50, Maruti Suzuki India declined 9.40% at Rs485.50, ICICI Bank tumbled 7.21% at Rs326.05, Reliance Infrastructure shed 7.21% at Rs467, BHEL dipped 6.71% at Rs1,2669.95, Ranbaxy Laboratories was down 4.96% at Rs198.45 and ITC shed 4.61% at Rs165.50. Over 2.51 crore shares of Unitech changed hands on the BSE followed by Suzlon Energy (0.94 crore shares), GVK Power & Infrastructure (92.52 lakh shares), Reliance Natural Resources Ltd (63.91 lakh shares) and ITC (46.21 lakh shares). European Indices at 16:00 IST on 01-12-2008 Index Level Change (pts) Change (%) FTSE 100 Index 4207.76 -80.25 -1.87 CAC 40 Index 3203.92 -58.76 -1.80 DAX Index 4540.92 -128.52 -2.75 Asian Indices at close on 01-12-2008 Index Level Change (pts) Change (%) Nikkei 225 8397.22 -115.05 -1.35 Hang Seng Index 14108.84 220.60 1.59 Kospi Index 1058.62 -17.45 -1.62 Straits Times Index 1690.23 -42.34 -2.44 Jakarta Composite Index 1223.12 -18.41 -1.48

 

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