Sharekhan Post-Market Report dated November 30, 2007

 

Sharekhan's daily newsletter   November 30, 2007   Index Performance Index Sensex Nifty Open 19136.12 5633.90 High 19424.99 5782.55 Low 19006.89 5632.65 Today's Cls 19363.19 5762.75 Prev Cls 19003.26 5634.60 Change 359.93 128.15 % Change 1.89 2.27   Market Indicators Top Movers (Group A) Company Price  (Rs) % chg Gainers Sterlite Ind 1,034.75 12.58 VSNL 626.60 12.14 Neyveli Lignite 235.55 12.09 SCI 267.45 10.70 RCF 75.00 9.97 Losers Orchid Chemicals 257.40 -3.78 GSK Pharma 947.85 -3.45 HPCL 273.10 -3.04 FDC 30.50 -2.56 Apollo Tyre 41.85 -2.33 Market Statistics - BSE NSE Advances 1,745 786 Declines 1,056 367 Unchanged 59 25 Volume(Nos) 46.70cr 82.65cr  Market Commentary  Market rallies on the back of firm Asian markets The Sensex remained buoyant due to firm Asian markets and rallied sharply to gain 360 points for the day The market followed the rally in Asian markets after comments by US Federal Reserve chairman Ben Bernanke rose hopes of further cuts in interest rates.    Better-than-expected July-September GDP numbers of India also boosted the market sentiment. The market opened on a positive note at 19,136, up 133 points and strong optimism among investors kept the Sensex firm above the 19,200 mark for the better part of the session. In the last hour of the trading session the buoyancy among front-line metal, realty, information technology, and oil stocks lifted the Sensex to touch the day's high of 19,425. The market remained buoyant thereafter and finally ended the session with a gain of 360 points at 19,363, while the Nifty closed the session at 5,763, up 128 points. Movers & Shakers Moser Baer jumped on setting up India's largest grid-connected solar farm in Rajasthan.  Tata Steel surged on signing a joint venture agreement with Riversdale Mining Ltd to develop a hard coking and thermal coal project in Mozambique. Punj Lloyd rallied sharply after its subsidiary won a major contract worth Rs1,272 crore for architectural, civil and structural work in Singapore. The breadth of the market was positive. Of the 2,860 stocks traded on the Bombay Stock Exchange (BSE0, 1,745 stocks advanced, 1,056 stocks declined and 59 stocks ended unchanged. Among the sectoral indices, the BSE Metal index jumped 5.09% at 17,731 followed by the BSE Realty index (up 3.94% at 10,626), the BSE IT index (up 2.74% at 4,198) and the BSE Oil & Gas index (up 2.62% at 12,360). Most of the heavyweights ended at higher levels. On the Sensex, DLF shot up by 7.04% at Rs944, Reliance Energy soared 4.47% at Rs1,738, TCS surged 3.81% at Rs1,014, HDFC advanced by 3.59% at Rs2,785, Satyam Computer added 3.37% at Rs440, Tata Steel moved up 2.94% at Rs826, Bharti Airtel scaled up 2.60% at Rs939 and ONGC was up 2.59% at Rs1,171. Among the laggards, HLL dropped 1.45% at Rs207, while Ambuja Cement, Bajaj Auto and BHEL closed marginally lower. Metal stocks were in the limelight and closed with strong gains. Sterlite Industries jumped by 12.58% at Rs1,035, Welspun Gujrat soared 9.18% at Rs419, Ispat Industries surged 6.63% at Rs51, Jindal Steel added 6.15% at Rs13,508, Sesa Goa gained 5.80% at Rs3,453 and JSW Steel advanced by 4.42% at Rs1,009. Over 3.39 crore Ispat Industries shares changed hands on the BSE followed by Reliance Natural Resources (2.81 crore shares), Reliance Petroleum ( 2.59 crore shares), Essar Oil (2.08 crore shares) and IFCI (1.83 crore shares). Reliance Petroleum clocked a turnover of Rs568 crore on the BSE followed by Essar Oil (Rs491 crore), Reliance Natural Resources (Rs459 crore), Mundra Port (Rs282 crore) and Reliance Energy (Rs218 crore). European Indices at 16:15 IST on 30-11-2007 Index Level Change (pts) Change (%) FTSE 100 6391.90 42.80 0.67 CAC 40 Index 5643.16 45.05 0.80 DAX Index 7850.66 85.47 1.10 Asian Indices at close on 30-11-2007 Index Level Change (pts) Change (%) Nikkei 15680.67 166.93 1.08 Hang Seng 28643.61 161.07 0.57 Kospi Index 1906.00 28.44 1.51 Straits Times 3521.27 43.05 1.24 Jakarta Composite Index 2688.33 -11.48 -0.43

 

 

.

__,_._,___