Post Market Rreport on 07.08.2008
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B. Karthick
Aug 7, 2008, 7:29:20 AM8/7/08
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India Stocks Review: End slightly up after volatile session
Thursday, Aug 7
------------------------------------------------------------------------------
Bombay Stock Exchange : National Stock Exchange
Sensex: 15117.25, up 43.71 pts (0.3%) : Nifty: 4523.85, up 6.30 pts
(0.1%)
------------------------------------------------------------------------------
Share indices ended slightly up today after flitting between gains
and losses as the market consolidated after rising 22% in the last two
weeks.
Overseas markets provided little direction, with most Asian
indices ending down, while key European share markets were trading up.
It looks like market is in a consolidation phase, but we will need
to keep a close watch on crude oil prices. Interest rates are not
expected to come down any time soon, so any rise in the interest rate
sensitive sectors is likely to be a temporary move.
Sensex ended at 15117.25, up 43.71 points, or 0.3%, from Thursday.
Intraday, it moved between 14992.97 and 15280.06.
Nifty closed at 4523.85, up 6.30 points, or 0.1%. Intraday, it
moved between 4493.70 and 4580.15.
Turnover on BSE and NSE combined was 186 bln rupees, compared with
258 bln rupees in the previous session.
CNX Mid-cap and S&P CNX 500 ended up around 0.2% each.
Crude oil for September delivery was trading near $120 a barrel on
the New York Mercantile Exchange.
LOSERS
Telecommunication shares fell on profit booking amid speculation a
likely initial public offer by Bharat Sanchar Nigam may squeeze some
of the liquidity in the sector.
Also, there are fears of higher competition after the Telecom
Regulatory Authority of India issued recommendations on allowing
mobile virtual network operators in the country.
Bharti Airtel and Reliance Communications, down over 2% each, at
849 rupees and 438 rupees, respectively, were among the worst hit on
Nifty.
Bharat Heavy Electricals ended down 3% at 1,772 rupees despite
reports it is likely to get two more orders totalling 37 bln rupees.
HCL Technologies ended down over 2% at 224 rupees as investors
continued to book profits after it rose sharply earlier this weak on
robust Apr-Jun operating performance.
GAINERS
Shares of automobile and financial continued to remain top Nifty
gainers on value buying coupled with short covering.
The interest rate sensitive sector is playing catch up after being
battered in the past, and it is mostly a temporary move.
Tata Motors ended up 4% at 446 rupees, Housing Development Finance
Corp rose 3.6% to 2,478 rupees, and DLF gained 2% to 557 rupees.
Dr Reddy's Laboratories rose nearly 5% to 610 rupees on news
promoter group Dr Reddy's Laboratories Holdings Pvt Ltd is increasing
its stake in the company through open market purchases.
Cairn India advanced nearly 4% to 246 rupees as crude oil prices
advanced for first time in four sessions.
Sterlite Industries, up nearly 5% at 616 rupees, was the top Nifty
gainer on value buying after falling sharply in the recent past.
Mahanagar Telephone Nigam ended up 4.5% at 110 rupees after the
company got 3G and wireless broadband spectrum.
ITC climbed 1% to 192 rupees on a report the company plans to hike
prices of its Bristol and Gold Flake Premium cigarette brands by end
of this month.
KEY MARKET MOVES
* In the Nifty, 30 rose and 20 fell.
* In the Sensex, 19 rose and 11 fell.
* On BSE, there were 1,406 advances and 1,284 declines
* BSE Auto: Up 1.2%; BSE Realty: Up 0.7%; BSE Bank: Up 0.7%
------------------------------------------------------------------------------
Bombay Stock Exchange : National Stock Exchange
Sensex: 15117.25, up 43.71 pts (0.3%) : Nifty: 4523.85, up 6.30 pts
(0.1%)
------------------------------------------------------------------------------
B.Karthick,
Research Analyst.
Thursday, Aug 7
------------------------------------------------------------------------------
Bombay Stock Exchange : National Stock Exchange
Sensex: 15117.25, up 43.71 pts (0.3%) : Nifty: 4523.85, up 6.30 pts
(0.1%)
------------------------------------------------------------------------------
Share indices ended slightly up today after flitting between gains
and losses as the market consolidated after rising 22% in the last two
weeks.
Overseas markets provided little direction, with most Asian
indices ending down, while key European share markets were trading up.
It looks like market is in a consolidation phase, but we will need
to keep a close watch on crude oil prices. Interest rates are not
expected to come down any time soon, so any rise in the interest rate
sensitive sectors is likely to be a temporary move.
Sensex ended at 15117.25, up 43.71 points, or 0.3%, from Thursday.
Intraday, it moved between 14992.97 and 15280.06.
Nifty closed at 4523.85, up 6.30 points, or 0.1%. Intraday, it
moved between 4493.70 and 4580.15.
Turnover on BSE and NSE combined was 186 bln rupees, compared with
258 bln rupees in the previous session.
CNX Mid-cap and S&P CNX 500 ended up around 0.2% each.
Crude oil for September delivery was trading near $120 a barrel on
the New York Mercantile Exchange.
LOSERS
Telecommunication shares fell on profit booking amid speculation a
likely initial public offer by Bharat Sanchar Nigam may squeeze some
of the liquidity in the sector.
Also, there are fears of higher competition after the Telecom
Regulatory Authority of India issued recommendations on allowing
mobile virtual network operators in the country.
Bharti Airtel and Reliance Communications, down over 2% each, at
849 rupees and 438 rupees, respectively, were among the worst hit on
Nifty.
Bharat Heavy Electricals ended down 3% at 1,772 rupees despite
reports it is likely to get two more orders totalling 37 bln rupees.
HCL Technologies ended down over 2% at 224 rupees as investors
continued to book profits after it rose sharply earlier this weak on
robust Apr-Jun operating performance.
GAINERS
Shares of automobile and financial continued to remain top Nifty
gainers on value buying coupled with short covering.
The interest rate sensitive sector is playing catch up after being
battered in the past, and it is mostly a temporary move.
Tata Motors ended up 4% at 446 rupees, Housing Development Finance
Corp rose 3.6% to 2,478 rupees, and DLF gained 2% to 557 rupees.
Dr Reddy's Laboratories rose nearly 5% to 610 rupees on news
promoter group Dr Reddy's Laboratories Holdings Pvt Ltd is increasing
its stake in the company through open market purchases.
Cairn India advanced nearly 4% to 246 rupees as crude oil prices
advanced for first time in four sessions.
Sterlite Industries, up nearly 5% at 616 rupees, was the top Nifty
gainer on value buying after falling sharply in the recent past.
Mahanagar Telephone Nigam ended up 4.5% at 110 rupees after the
company got 3G and wireless broadband spectrum.
ITC climbed 1% to 192 rupees on a report the company plans to hike
prices of its Bristol and Gold Flake Premium cigarette brands by end
of this month.
KEY MARKET MOVES
* In the Nifty, 30 rose and 20 fell.
* In the Sensex, 19 rose and 11 fell.
* On BSE, there were 1,406 advances and 1,284 declines
* BSE Auto: Up 1.2%; BSE Realty: Up 0.7%; BSE Bank: Up 0.7%
------------------------------------------------------------------------------
Bombay Stock Exchange : National Stock Exchange
Sensex: 15117.25, up 43.71 pts (0.3%) : Nifty: 4523.85, up 6.30 pts
(0.1%)
------------------------------------------------------------------------------
B.Karthick,
Research Analyst.
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