Wednesday, October 17, 2007

Sharekhan Post-Market Report dated October 16, 2007


 

 

 Sharekhan's daily newsletter

 

October 16, 2007

 

Index Performance

Index

Sensex

Nifty

Open

19,102.93

5,670.65

High

19,174.45

5,708.35

Low

18,777.75

5,578.45

Today's Cls

19,051.86

5,668.05

Prev Cls

19,058.67

5,670.40

Change

-6.81

-2.35

% Change

-0.04

-0.04

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Tata Power

1,370.90

23.49

Gujarat Gas

358.80

15.99

Siemens

1,695.80

12.02

Neyveli Lignite

123.15

10.55

GMDC

2,239.90

10.00

Losers

Finolex Cables

66.20

-5.36

Indian Bank

144.35

-5.28

Thermax

802.90

-4.96

Mastek

370.50

-4.85

Ballarpur Industries

129.75

-4.28

Market Statistics

-

BSE

NSE

Advances

1,212

451

Declines

1,543

669

Unchanged

62

25

Volume(Nos)

48.17cr

82.65cr

 Market Commentary 

Sensex pares early losses

After exhibiting a firm trend in the opening session, the Sensex closed with a marginal loss of seven points.

The market overcame heavy selling in the early trades and climbed to new heights.

 

The benchmark index, the Sensex, touched a new high of 19,174 in volatile trades during the opening session but slipped on profit booking in the afternoon. The market managed to recover from its day's low of 18778 towards the close despite weak global cues and rising crude oil prices. Oil prices rose to record highs on fears that Turkey will pursue Kurdish rebels into Iraq and disrupt oil supplies in the region. The Sensex, which commenced the day on a promising note by touching a record peak, wrapped up the session with losses of six points at 19052, while the Nifty was down two points at 5668.

Movers & Shakers

  • Shilpa Medicare hit the upper circuit on acquiring the entire stake in LOBA Finchemie AG, Austria in an all-cash deal.
  • Bharti Shipyard surged on the news of signing an agreement with Apeejay Shipping to set up a shipbuilding yard along the eastern coast of the country.


The breadth of the market was marginally weak. Of the 2,817 stocks traded on the BSE, 1,543 stocks declined, 1,212 stocks advanced and 62 stocks ended unchanged. On the sectoral front, the BSE Bankex was up 2.75% at 9974, the BSE CD Index added 1.20% at 4892 and the BSE Realty Index gained 1.10% at 10187 while the BSE HC Index closed marginally higher at 3854. However, the BSE IT Index, BSE TECk Index, BSE FMCG Index and BSE Oil & Gas Index were down 1-0.50% each. 

Among the major losers, Infosys shed 3.14% at Rs1,868, HLL declined 3.08% at Rs212, M&M fell 2.34% at Rs815, L&T slipped 2.02% at Rs3,346, SBI dipped 1.67% at Rs1,924, Bajaj Auto lost 1.55% at Rs2,540 and Bharti Airtel slumped 1.50% at Rs1,110. ACC, Grasim and ONGC were down over 1% each. ICICI Bank, however, gained 5.48% at Rs1,157, followed by Hindalco that rose 4.55% at Rs197, Reliance Energy that added 3.09% at Rs1,904, Maruti Udyog that jumped 2.28% at Rs1,186 and NTPC that was up by 1.96% at Rs231. While Satyam Computer, Reliance Communication, HDFC Bank, Ambuja Cement and Dr Reddy's Lab ended the day in the positive territory.

Over 3.55 crore Power Grid Corporation shares changed hands on the BSE followed by Tata Teleservices ( 3.52 crore shares), IFCI (1.76 crore shares), Reliance Natural Resources (1.71 crore shares) and Reliance Petroleum (1.21 crore shares).

Value-wise, Reliance Energy registered a turnover of Rs657 crore on the BSE followed by Power Grid Corporation (Rs433 crore), Reliance Industries (Rs394 crore), Reliance Capital (Rs295 crore) and Reliance Communication (Rs259 crore).

European Indices at 16:15 IST on 16-10-2007

Index

Level

Change (pts)

Change (%)

FTSE 100

6605.50

-39.00

-0.59

CAC 40 Index

5755.30

-52.14

-0.90

DAX Index

7942.26

-27.21

-0.34

Asian Indices at close on 16-10-2007

Index

Level

Change (pts)

Change (%)

Nikkei 225

17137.92

-220.23

-1.27

Hang Seng

28954.55

-586.23

-1.98

Kospi Index

2005.76

-29.63

-1.46

Straits Times

3810.72

-51.30

-1.33

Jakarta Composite Index

2638.21

46.73

1.80

 

 

 

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