Friday, October 26, 2007

Sharekhan Post-Market Report dated October 26, 2007



 

 

 Sharekhan's daily newsletter

 

October 26, 2007

 

Index Performance

Index

Sensex

Nifty

Open

18,823.66

5,564.25

High

19,276.45

5,716.90

Low

18,629.53

5,513.35

Today's Cls

19,243.17

5,702.30

Prev Cls

18,770.89

5,568.95

Change

472.28

133.35

% Change

2.52

2.39

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Engineering India 

726.35

20.00

Dredging Corporation

786.10

17.73

HMT

65.75

15.76

IndusInd Bank

94.85

14.00

Jaiprakash Associates

1,352.90

12.92

Losers

Idea Cellular

138.60

-8.82

Asian Paints

1,011.00

-6.41

Aditya Birla Nuvo

1,533.30

-4.55

Cummins India

399.55

-4.53

Ispat Industries

27.35

-4.04

Market Statistics

-

BSE

NSE

Advances

1,737

765

Declines

1,029

372

Unchanged

67

28

Volume(Nos)

42.93cr

72.48cr

 Market Commentary 

Sensex storms past 19K as capital goods rally

The Sensex closed above the 19200 mark on strong gains in capital goods, banking and PSU stocks.

Continuing on a cautious note, the market witnessed another round of selling as the Sensex lost over 141 points form the previous day's close to touch the  

 

intra-day low of 18630. However, the market recovered thereafter as brisk buying in front-line shares pushed the benchmark index to an all-time high of 19,276. Capital goods stocks led the rally after sector heavyweight Larsen and Toubro posted a whopping 73% rise in net profit from the previous quarter. Stocks also rallied as the Securities and Exchange Board of India had dispelled confusion on curbs on P-notes yesterday. The Sensex finally closed near its all-time high with a gain of 472 points at 19243, while the Nifty ended the session by adding 133 point at 5702. 

The market breadth was positive. Of the 2,833 stocks traded on the BSE, 1,737 stocks advanced, 1,029 stocks declined and 67 stocks ended unchanged. Among the sectoral indices, the BSE CG Index was the major gainer and rose 7.08% followed by the BSE PSU Index that added 3.93% and the BSE Bankex Index that gained 3.52%. However, the BSE FMCG Index shed 0.28%.

Among the major gainers, L&T jumped 12.40% at Rs3,885, SBI added 7.53% at Rs2,091, BHEL shot up by 6.35% at Rs2,435, ONGC flared up 4.12% at Rs1,160, M&M moved up 3.82% at Rs802, ICICI Bank advanced 3.81% at Rs1,190, Satyam Computer scaled up 3.68% at Rs477 and Reliance Industries surged 2.42% at Rs2,692. However, Bharti Airtel dropped 2.66% at Rs993, ITC slipped 1.42% at Rs180, HLL fell 1.34% at Rs218 and Ranbaxy shed 1.15% at Rs425.

Capital goods stocks were in the limelight today. Laxmi Machine Works flared up 14.98% to Rs3,171, Crompton Greaves rose 7.44% at Rs420 and Kalpataru Power scaled up 6.81% at Rs1,795.

Over 2.75 crore Reliance Natural Resources shares changed hands on the BSE followed by Himachal Futuristic Communication (2.05 crore shares), Reliance Petroleum ( 2.03 crore shares), Tata Teleservices (1.57 crore shares) and Power Grid Corporation (1.46 crore shares).

Value-wise L&T clocked a turnover of Rs433 crore followed by Reliance Petroleum (Rs404 crore), Reliance Industries (Rs363 crore), Reliance Natural Resources (Rs272 crore) and Reliance Energy (Rs265 crore).

European Indices at 16:15 IST on 26-10-2007

Index

Level

Change (pts)

Change (%)

FTSE 100

6595.80

19.50

0.30

CAC 40 Index

5756.49

-3.81

-0.07

DAX Index

7938.94

6.50

0.08

Asian Indices at close on 26-10-2007

Index

Level

Change (pts)

Change (%)

Nikkei 225

16505.63

221.46

1.36

Hang Seng

30405.22

550.73

1.84

Kospi Index

2028.06

51.31

2.60

Straits Times

3771.55

64.41

1.74

Jakarta Composite Index

2624.43

27.77

1.07

 

 

 

 
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