Sunday, December 23, 2007

Sharekhan Post-Market Report dated December 18, 2007


 

 

 

 Sharekhan's daily newsletter

 

December 18, 2007

 

Index Performance

Index

Sensex

Nifty

Open

19,339.14

5,777.60

High

19,375.07

5,874.60

Low

19,009.35

5,710.60

Today's Cls

19,079.64

5,742.30

Prev Cls

19,261.35

5,777.00

Change

-181.71

-34.70

% Change

-0.94

-0.60

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

JB Chemicals

81.55

7.94

Nicholas Piramal

368.15

7.29

GIPCL

123.05

6.17

Neyveli Lignite

246.20

5.89

BPCL

418.20

5.29

Losers

Gillette India

1,315.50

-6.39

Jindal Steel

13,487.00

-6.11

Jaiprakash Associates

379.85

-5.22

Raymond

383.30

-4.44

Dredging Corporation

1,030.75

-4.20

Market Statistics

-

BSE

NSE

Advances

1,225

492

Declines

1,672

695

Unchanged

33

16

Volume(Nos)

78.27cr

85.85cr

 Market Commentary 

Sensex drops 182 points amid sharp volatility

Weakness in heavyweight, banking, capital goods, and metal stocks saw the Sensex shed 182 points during the day.

Nervousness among investors to take fresh positions was visible through the entire trading session, as traders booked profits on every rise.  

 

The market opened with a negative gap of 78 points tracking mixed global cues, but recovered quickly on strong buying in index pivotal stocks to touch the day's high of 19,375. The market thereafter witnessed choppy trading. After exhibiting a range-bound trend with a mixed bias, profit booking in banking, capital goods, and metal stocks saw the Sensex slump below the 19,100 mark by afternoon. The Sensex managed to erase some losses towards the close but a fresh bout of selling saw it touch the day's low 19,009 and end the session with a loss of 182 points at 19,080. Broad-based Nifty closed the session at 5,742, down 35 points.

Movers & Shakers

  • Diamond Cables jumped on receiving a large order to supply 956 power transformers.
  • Great Eastern Shipping Company slipped despite placing an order for the supply of two MPSVs / ROV support vessels to Colombo Dockyard Ltd.
  • Steel Strips Wheels gained on receiving another export order from PSA Peugeot Citroen.


Market breadth was weak. Of 2,930 stocks traded on the Bombay Stock Exchange (BSE), 1,672 stocks declined, 1,225 stocks advanced and 33 stocks ended unchanged. Most sectoral indices ended weak. BSE bankex index slipped by 142% followed by BSE Metal index (down 1.35%) and BSE CG index (down 1.18%) while, BSE HC index gained 1.50%, BSE CD index added 1.12% and BSE PSU index was up 0.39%.

Among major losers, HLL slipped 3.39% at Rs211, L&T tumbled by 2.80% at Rs3,968, ICICI Bank declined by 2.27% at Rs1,141, HDFC plunged by 2.27% at Rs2,812, Reliance Industries dropped 1.75% at Rs2,729, ONGC crumbled by 1.41% at Rs1,150, HDFC Bank slumped 1.28% at Rs1,657 and BHEL fell by 1.24% at Rs2,395. However, Cipla gained 3.78% at Rs216, ITC surged 2.22% at Rs198, NTPC added 1.66% at Rs232 and Ranbaxy moved up by 1.05% at Rs410 while Maruti Suzuki, Bharti Airtel, ACC, DLF, Tata Motors and TCS ended with modest gains.

Over 3.77 crore IKF Technologies shares changed hands on BSE followed by IFCI ( 3.57 crore shares), Ispat Industries (3.31 crore shares), GV Films (2.65 crore shares) and Himachal Futuristic Communication (2.29 crore shares).

Valuewise, ONGC clocked a turnover of Rs387 crore on BSE followed by IFCI (Rs364 crore), Essar Oil (Rs292 crore), Ispat Industries (Rs259 crore) and Reliance Petroleum (Rs227 crore).

European Indices at 16:05 IST on 18-12-2007

Index

Level

Change (pts)

Change (%)

FTSE 100

6303.80

26.00

0.41

CAC 40 Index

5535.89

21.01

0.38

DAX Index

7846.56

21.12

0.27

Asian Indices at close on 18-12-2007

Index

Level

Change (pts)

Change (%)

Nikkei

15207.86

-41.93

-0.27

Hang Seng

26732.87

136.29

0.51

Kospi Index

1861.47

21.65

1.18

Straits Times

3369.31

15.75

0.47

 

 

 

 

 
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