Tuesday, October 30, 2007

Sharekhan Post-Market Report dated October 29, 2007


 

 

 Sharekhan's daily newsletter

 

October 29, 2007

 

Index Performance

Index

Sensex

Nifty

Open

19,621.39

5,708.90

High

20,024.87

5,922.50

Low

19,621.39

5,708.90

Today's Cls

19,977.67

5,905.90

Prev Cls

19,243.17

5,702.30

Change

734.50

203.60

% Change

3.82

3.57

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

LIC Housing Finance

360.30

31.42

Jindal Saw

738.50

19.99

Siemens

1,935.40

12.17

Engineers India

813.15

11.95

Gujarat Gas

339.05

10.69

Losers

Tata Steel

900.90

-9.06

Shipping Corporation

251.50

-6.35

Moser Baer

287.20

-4.93

BEL

1,902.75

-4.87

GSK Consumer

656.80

-4.28

Market Statistics

-

BSE

NSE

Advances

1,579

677

Declines

1,200

470

Unchanged

62

24

Volume(Nos)

46.80cr

79.73cr

 Market Commentary 

Strong global cues lift Sensex to new high

Buoyancy in capital goods, oil, and banking stocks lifts the Sensex cross 20,000 mark.

The Sensex extended its gains for the sixth straight session and touched the 20,000 mark on the back of strong global cues.  

 

Driven by a strong surge in banking, capital goods, and oil stocks, the Sensex zoomed to touch the all-time high of 20,024 by afternoon. Investors seemed optimistic about the rate cut ahead of the Reserve Bank of India's mid-term review of the annual policy and the US Federal Reserve meeting on October 31. Substantial buying in HDFC, BHEL, and L&T also helped the Sensex touch its record new high. The market witnessed hectic activity during the last hour of the trading session and the Sensex closed the session with a gain 735 points at 19,978. The Nifty, too, surged on substantial buying and moved up by 204 points to close at 5,906.

Movers & Shakers

  • Prakash Industries surged after entering into an agreement with the Madhya Pradesh Government to establish and operate 1,000MW thermal power station in the State at an approximate cost of Rs4,500 crore.
  • IVRCL Infrastructures & Projects moved up on getting Rs346.80 crore order for Water transmission & Power transmission.
  • Ashok Leyland was marginally up on signing a master co-operation agreement with Nissan Motor, Japan for the manufacture and sale of light commercial vehicles (LCV) and Power trains.


The broader market was positive. Of the 2,841 stocks traded on the Bombay Stock Exchange (BSE), 1,579 stocks advanced, 1,200 stocks declined and 62 stocks ended unchanged. The BSE Capital Goods index led the surge in the sectoral indices and rose 7.05% at 19,848, followed by the BSE Oil & Gas index (up 5.01%), while the BSE Bankex index and the BSE PSU index gained over 3% each. 

Buying was led by L&T, which notched up gains of 10.33% at Rs4,277. Among the other gainers HDFC advanced 9.63% at Rs2,813, BHEL added 7.42% at Rs2,612, ONGC moved up 7.15% at Rs1,239, HDFC Bank jumped by 5.99% at Rs1,639, ICICI Bank gained 5.48% at Rs1,249 and Reliance Industries was up 5.03% at Rs2,828. However, Tata Steel tumbled 9.06% at Rs900.90, while M&M, Bajaj Auto, Ranbaxy, Tata Motors, Cipla, TCS and Dr Reddy's Lab closed marginally down.

Over 4.19 crore Reliance Natural Resources (RNRL) shares changed hands on the BSE followed by Tata Teleservices ( 3.53 crore shares), Reliance Petroleum (2.50 crore shares), Himachal Futuristic Communication (1.31 crore shares) and Power Grid Corporation (1.14 crore shares).

Value-wise, Reliance Petroleum registered a turnover of Rs542 crore on the BSE followed by L&T (Rs469 crore), Reliance Natural Resources (Rs448 crore), Reliance Industries (Rs314 crore) and Reliance Energy (Rs248 crore).

European Indices at 16:25 IST on 29-10-2007

Index

Level

Change (pts)

Change (%)

FTSE 100

6698.00

121.70

1.85

CAC 40 Index

5831.48

36.61

0.63

DAX Index

7998.18

36.61

0.63

Asian Indices at close on 29-10-2007

Index

Level

Change (pts)

Change (%)

Nikkei 225

16698.08

192.45

1.17

Hang Seng

31586.90

1181.68

3.89

Kospi Index

2062.92

34.86

1.72

Straits Times

3819.78

48.23

1.28

Jakarta Composite Index

2667.53

43.10

1.64

 

 

 

 
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