Friday, October 19, 2007

Sharekhan Post-Market Report dated October 18, 2007



 

 

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October 18, 2007

 

Index Performance

Index

Sensex

Nifty

Open

18,827.46

5,551.10

High

19,198.66

5,736.80

Low

17,771.16

5,269.65

Today's Cls

17,998.39

5,351.00

Prev Cls

18,715.82

5,559.30

Change

-717.43

-208.30

% Change

-3.83

-3.75

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Tata Chemicals

310.30

3.81

Hexaware

112.60

3.54

Sun Pharma

997.30

3.42

Thermax

802.10

2.95

Pidilite

162.10

2.56

Losers

ACC

1,036.00

-13.86

Sterlite Optical

258.70

-11.08

Jaiprakash Associates

1,097.60

-10.26

Reliance Capital

1,658.15

-10.11

Zee Entertain

300.85

-10.01

Market Statistics

-

BSE

NSE

Advances

1,053

393

Declines

1,716

797

Unchanged

55

18

Volume(Nos)

55.90cr

93.50cr

 Market Commentary 

Sensex nosedives on panic selling

The Sensex ended the day with a loss of 717 points after crashing to a low of 17771 during intra-day trades.

The market crashed by over 1,428 points from the day's high amid panic selling, pulling the front-line stocks to their day's low. Banking stocks were the worst hit 

 

followed by metal and oil & gas stocks. After slipping by over 300 points in yesterday's trades, the Sensex resumed 111 points higher at 18,827 and rallied sharply to touch another record high of 19199, up 483 points from yesterday's close, on sustained buying in front-line stocks. But, the panic selling towards the close dragged the index to its day's low of 17771. The index ended the session with a loss of 717 points or 3.83% at 17998. The Nifty tumbled 3.75% or 208 points to close at 5351.

The market breadth was negative, with the losers outnumbering the gainers in the ratio of 1.65:1. Of the 2,824 stocks traded on the BSE, 1,716 stocks declined, 1,053 stocks advanced and 55 stocks ended unchanged. All the sectoral indices were battered. Among the major losers the BSE Bankex Index lost 5.96%, the BSE Realty Index shed 4.56%, the BSE Metal Index dropped 4.39%, the BSE PSU Index fell 4.26% and the BSE CG Index slipped by 4.07%.

Movers & Shakers

  • ABB gained marginally on receiving orders from JSW Group to provide turnkey power and automation solutions for their steel and power plant projects.
  • Tata Consultancy Services surged on bagging a contract worth $1.2 billion from Nielsen Company.
  • Biocon slipped despite receiving an approval from DCGI to market Abraxane in India. Abraxane is a product of Abraxis BioScience, Inc. USA.
  • Gail India tumbled despite forming a JV company with Vadodara Mahanagar Seva Sadan to market City Gas and CNG in Vadodara. 
  • L&T slumped despite receiving contracts worth Rs452 crore for projects in Andhra Pradesh.


Excluding select IT and pharma stocks most of the Sensex stocks ended in the red. Among the major losers, ACC plummeted by 13.86% at Rs1,036, Reliance Energy tanked by 9.71% at Rs1,591, SBI dropped 8.26% at Rs1,677, Bharti Airtel slumped 7.67% at Rs1,019, ICICI Bank crumbled by 6.99% at Rs1,039 and NTPC shed 5.57% at Rs209. However, TCS, Wipro, Cipla, Satyam Computer, Dr Reddy's Lab, HLL and Ranbaxy managed to close in the green with gains of over 0.50-2%.

Banking stocks came under selling pressure and lost heavily. SBI tumbled by 8.26% at Rs1,677, Union Bank shed 7.45% at Rs154, ICICI Bank lost 6.99% at Rs1,039 and BOI declined by 6.88% at Rs278. Yes Bank, Punjab National Bank, Bank Of Baroda and HDFC Bank crumbled by 5-6% each. 

Over 4.78 crore Reliance Natural Resources shares changed hands on the BSE followed by Power Grid Corporation (3.59 crore shares), Tata Teleservices (3 crore shares), Reliance Petroleum (2.33 crore shares) and IFCI ( 1.13 crore shares).

Reliance Industries was the most actively traded counter on the BSE and registered a turnover of Rs714 crore followed by Reliance Energy (Rs627 crore), ICICI Bank (Rs626 crore), Power Grid Corporation (Rs514 crore) and Reliance Natural Resources (Rs482 crore).

European Indices at 16:15 IST on 18-10-2007

Index

Level

Change (pts)

Change (%)

FTSE 100

6644.40

-33.30

-0.50

CAC 40 Index

5791.20

-27.60

-0.47

DAX Index

7996.88

11.47

0.14

Asian Indices at close on 18-10-2007

Index

Level

Change (pts)

Change (%)

Nikkei 225

17106.09

150.78

0.89

Hang Seng

29465.05

166.34

0.57

Kospi Index

2005.09

21.15

1.07

Straits Times

3809.69

-30.04

-0.78

Jakarta Composite Index

2616.74

-24.85

-0.94

 

 

 

 
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