Post Market Report on 11.08.2008

[B. Karthick]

India Stocks Review: End up around 2%; realty, bank shares advance
Monday, Aug 11
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Bombay Stock Exchange : National Stock Exchange
Sensex: 15503.92, up 336.10 pts (2.2%) : Nifty: 4620.40, up 90.90 pts
(2.0%)
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Firm cues from overseas markets after a slide in crude oil price
helped key Indian share indices end 2% up near intraday highs today.
Oil prices continued to trade around the $116-a-barrel mark on New
York Mercantile Exchange, easing concerns over inflation and giving
rise to hope interest rates would edge lower.
Sensex ended at 15503.92, up 336.10 points or 2.2% from Friday.
Intra-day, it moved between 15367.97 and 15520.71.
Nifty closed above the 4600-mark for the first time since Jun 17.
It closed at 4620.40, up 90.90 points or 2%, after moving between
4529.35 and 4625.20 intra-day.
Turnover on BSE and NSE combined was 179 bln rupees, little
changed from Friday.
CNX Mid-cap index ended 1.5% up, and S&P CNX 500 rose 2%.

GAINERS
Interest rate-sensitive stocks led gains, with banks advancing on
hopes of financial reforms. State Bank of India and ICICI Bank ended
up over 5% each.
Value buying also lifted shares of real estate companies such as
Unitech, which was up 6%.
Reliance Infrastructure, up nearly 7% at 1,102 rupees, was the top
Nifty gainer.
In the mid-cap space, infrastructure stocks rose, with GMR
Infrastructure and Jaiprakash Associates climbing 7.5% and nearly 5%,
respectively. Hindustan Construction Co surged 9%.
Fertiliser shares extended gains on the new urea policy. Nagarjuna
Fertilisers & Chemicals, and Chambal Fertilisers & Chemicals ended up
over 1% each.
Most of the activity was seen in index heavyweights like ICICI
Bank, Reliance Industries, and Larsen & Toubro today.
RIL that ended up 3% pushed up oil and gas shares higher.
SpiceJet ended up 5.5% on BSE, but off highs touched earlier in
the session, on news it has a signed a "definitive pact" with private
equity player WL Ross for $100 mln investment.

LOSERS
Profit sales dragged down Dr. Reddy's Laboratories, despite it
having recouped losses earlier on a report it has settled its patent
dispute over cardiovascular drug Carvedilol with Teva.
The stock, down nearly 3% at 609 rupees, was the worst hit on
Nifty.
Weakness in most base metal prices on London Metal Exchange pulled
down non-ferrous metal shares.
Sterlite Industries fell over 2%, while Hindalco Industries ended
down 0.3%.
Infosys Technologies and Tata Consultancy Services ended lower on
profit sales and also because of news their client UBS will start
buying back nearly $19 bln worth of auction rate securities and pay
$150 mln fine under the terms
of a settlement reached with the U.S. state and federal regulators.
Infosys and TCS ended down around 1% each.

NEW LISTING
Chennai-based non-voice business process outsourcing service
provider Vishal Information Technologies ended at 195 rupees. It
listed at 130 rupees on NSE today, against an issue price of 150
rupees.
.
KEY MARKET MOVES
* In the Nifty, 41 rose and nine fell.
* In the Sensex, 25 rose and five fell.
* On BSE, there were 1,738 advances and 970 declines.
* BSE Realty: Up 5.3%; CNX Bank Nifty: Up 4.3%, BSE Oil & Gas: Up
2.9%.
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Bombay Stock Exchange : National Stock Exchange
Sensex: 15503.92, up 336.10 pts (2.2%) : Nifty: 4620.40, up 90.90 pts
(2.0%)
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B.Karthick
Research Analyst.