Post Market report on 31.07.2008

[B. Karthick]

India Stocks Review: End up after volatile session; DLF rises 4.5%
Thursday, Jul 31
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Bombay Stock Exchange : National Stock Exchange
Sensex: 14355.75, up 68.54 pts (0.5%) : Nifty: 4332.95, up 19.40 pts
(0.5%)
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Key share indices ended in positive territory today after a
volatile session that saw investors roll over positions to the next
month
series on expiry of July futures today.
This time round we have not seen very aggressive rollovers taking
place in Nifty. But the saving grace is that, unlike the past two
series, we have not seen many negative rollovers.
Sensex ended at 14355.75, up 68.54 points, or 0.5%, from
Wednesday. Intraday, it moved between 14161.76 and 14369.42.
Nifty closed at 4332.95, up 19.40 points, or 0.5%. Intraday, it
moved between 4285.55 and 4342.00.
Turnover on BSE and NSE combined was 204 bln rupees, compared with
180.5 bln rupees in the previous session.
CNX Mid-cap index ended down 0.5%, while S&P CNX 500 gained 0.2%.

GAINERS
DLF and Tata Steel were index heavyweights that led indices higher
ahead of their Apr-Jun earnings, due later today. DLF ended up 4.5%
and Tata Steel up 4%.
Tata Communications extended gains from previous session, ending
up 2% on reporting a higher than expected Apr-Jun standalone net
profit of 983.4 mln rupees.
Rebound in oil prices helped Cairn India rise over 2%, while
Suzlon Energy ended up 2%, but off highs on profit sales.
Siemens, up 4.5% at 548 rupees, was the top Nifty gainer.
Bharat Forge shares recouped losses to jump 5% on short covering,
as its Apr-Jun consolidated net was impacted by a notional foreign
exchange loss of 693 mln rupees, excluding which its profit after tax
would stand at 874 mln rupees against 588 mln rupees last year.
Ranbaxy Laboratories recouped losses to end up 1% after initially
falling amid news its open offer from Japan's Daiichi Sankyo has not
received approval from the Securities and Exchange Board of India yet.

LOSERS
National Aluminium Co and Reliance Communications ended down 3%
and 0.4%, respectively, ahead of their Apr-Jun earnings, due later
today.
ITC ended off lows on bargain buying after falling 4% as it
reported a 4.4% year-on-year drop in Apr-Jun net profit to 7.5 bln
rupees, below street expectations of 8.4 bln rupees.
Tata Motors also ended down 3% after reporting disappointing Apr-
Jun earnings Wednesday.
Zee Entertainment Enterprises, down 5% at 194 rupees as it
scrapped its plans for a share buyback, was worst hit on Nifty.

KEY MARKET MOVES
* In the Nifty, 26 rose and 24 fell.
* In the Sensex, 16 rose, 13 fell, and one was unchanged.
* On BSE, there were 1,296 advances and 1,326 declines
* BSE Metal: Up 1.7%; BSE Oil & Gas: Up 1.3%; BSE Healthcare: Down
1.1%
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Bombay Stock Exchange : National Stock Exchange
Sensex: 14355.75, up 68.54 pts (0.5%) : Nifty: 4332.95, up 19.40 pts
(0.5%)
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B.Karthick
Research Analyst.