Post Market report on 01.08.2008
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B. Karthick
Aug 1, 2008, 8:24:56 AM8/1/08
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India Stocks Review: Index majors help Nifty top 4400; RIL up 5%
Friday, Aug 1
------------------------------------------------------------------------------
Bombay Stock Exchange : National Stock Exchange
Sensex: 14656.69, up 300.94 pts (2.1%) : Nifty: 4413.55, up 80.60 pts
(1.9%)
------------------------------------------------------------------------------
Ignoring the weakness in European markets, key share indices
recouped losses to end 2% up on buying in select heavyweights.
Key indices had shed 2% in early trade but later recouped losses,
with Nifty ending above the psychological 4400-mark.
Sensex closed at 14656.69, up 300.94 points or 2.1% from Thursday.
Intraday, it moved between 14032.87 and 14682.33.
Nifty ended at 4413.55, up 80.60 points or 1.9%. Intraday, it
moved between 4235.70 and 4422.95.
Turnover on BSE and NSE combined was 224.40 bln rupees, compared
with 204.00 bln rupees on Thursday.
CNX Mid-cap and S&P CNX 500 ended nearly 2% up each.
Bargain buying emerged in frontline stocks like State Bank of
India and Reliance Industries, which ended over 5% up each.
Bharat Heavy Electricals and Tata Steel rose around 4% each, while
Infosys Technologies, Larsen & Toubro, and Unitech gained 3% each.
Suzlon Energy extended Monday's gains to end 7% up on strong
operating margins and better-than-expected sales which the company
reported for Apr-Jun.
Most interest rate-sensitive stocks that were battered in previous
sessions rose today. Punjab National Bank, up over 7% at 484 rupees,
was top Nifty gainer.
Shares of Hero Honda Motors and Mahindra & Mahindra, however,
ended 1% down and flat, respectively, after they reported their July
sales numbers today.
Maruti Suzuki also ended 2% down on disappointing sales in July.
HCL Technologies ended 3% up ahead of its Apr-Jun earnings today,
while Mahanagar Telephone Nigam jumped 4% after Telecom Minister A.
Raja said the company would get 3G spectrum immediately.
Reliance Communications was singled out for severe punishment
today on the company's poor first quarter results.
The stock, down 13% at 436 rupees, was worst hit among Nifty
stocks.
KEY MARKET MOVES
* In Nifty, 39 rose and 11 fell.
* In Sensex, 22 rose and 8 fell.
* On BSE, there were 1,551 advances and 1,108 declines
* BSE Capital Goods: Up 3.8%; BSE Oil & Gas: Up 3.3%; CNX Bank
Nifty: Up 4.1%
------------------------------------------------------------------------------
Bombay Stock Exchange : National Stock Exchange
Sensex: 14656.69, up 300.94 pts (2.1%) : Nifty: 4413.55, up 80.60 pts
(1.9%)
------------------------------------------------------------------------------
B.Karthick
Research Analyst.
Friday, Aug 1
------------------------------------------------------------------------------
Bombay Stock Exchange : National Stock Exchange
Sensex: 14656.69, up 300.94 pts (2.1%) : Nifty: 4413.55, up 80.60 pts
(1.9%)
------------------------------------------------------------------------------
Ignoring the weakness in European markets, key share indices
recouped losses to end 2% up on buying in select heavyweights.
Key indices had shed 2% in early trade but later recouped losses,
with Nifty ending above the psychological 4400-mark.
Sensex closed at 14656.69, up 300.94 points or 2.1% from Thursday.
Intraday, it moved between 14032.87 and 14682.33.
Nifty ended at 4413.55, up 80.60 points or 1.9%. Intraday, it
moved between 4235.70 and 4422.95.
Turnover on BSE and NSE combined was 224.40 bln rupees, compared
with 204.00 bln rupees on Thursday.
CNX Mid-cap and S&P CNX 500 ended nearly 2% up each.
Bargain buying emerged in frontline stocks like State Bank of
India and Reliance Industries, which ended over 5% up each.
Bharat Heavy Electricals and Tata Steel rose around 4% each, while
Infosys Technologies, Larsen & Toubro, and Unitech gained 3% each.
Suzlon Energy extended Monday's gains to end 7% up on strong
operating margins and better-than-expected sales which the company
reported for Apr-Jun.
Most interest rate-sensitive stocks that were battered in previous
sessions rose today. Punjab National Bank, up over 7% at 484 rupees,
was top Nifty gainer.
Shares of Hero Honda Motors and Mahindra & Mahindra, however,
ended 1% down and flat, respectively, after they reported their July
sales numbers today.
Maruti Suzuki also ended 2% down on disappointing sales in July.
HCL Technologies ended 3% up ahead of its Apr-Jun earnings today,
while Mahanagar Telephone Nigam jumped 4% after Telecom Minister A.
Raja said the company would get 3G spectrum immediately.
Reliance Communications was singled out for severe punishment
today on the company's poor first quarter results.
The stock, down 13% at 436 rupees, was worst hit among Nifty
stocks.
KEY MARKET MOVES
* In Nifty, 39 rose and 11 fell.
* In Sensex, 22 rose and 8 fell.
* On BSE, there were 1,551 advances and 1,108 declines
* BSE Capital Goods: Up 3.8%; BSE Oil & Gas: Up 3.3%; CNX Bank
Nifty: Up 4.1%
------------------------------------------------------------------------------
Bombay Stock Exchange : National Stock Exchange
Sensex: 14656.69, up 300.94 pts (2.1%) : Nifty: 4413.55, up 80.60 pts
(1.9%)
------------------------------------------------------------------------------
B.Karthick
Research Analyst.
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