Post Market Report on 14.08.2008
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B. Karthick
Aug 14, 2008, 7:28:46 AM8/14/08
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India Stocks Review: End dn 2% on inflation worry, oil price rise
Thursday, Aug 14
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Bombay Stock Exchange : National Stock Exchange
Sensex: 14724.18, dn 368.94 pts (2.4%) : Nifty: 4430.70, dn 98.35 pts
(2.2%)
------------------------------------------------------------------------------
Fear of inflation for week ended Aug 2 being much higher than
expectations pulled down key share indices by over 2% today.
A rebound in crude oil prices to around $117 a barrel on New York
Mercantile Exchange also kept the sentiment subdued throughout the
session.
Sensex ended at 14724.18, down 368.94 points or 2.4% from
Wednesday. Intra-day, it moved between 14686.66 and 15033.28.
Nifty closed at 4430.70, down 98.35 points or 2.2%. Intra-day, it
moved between 4421.25 and 4529.80.
Turnover on BSE and NSE combined was 159 bln rupees, compared with
175 bln rupees on Wednesday.
CNX Mid-cap index ended 1.9% down, and S&P CNX 500 fell 2.4%.
Interest rate-sensitive stocks took a beating yet again on worries
Reserve Bank of India will maintain a tight monetary stance in a bid
to tame inflation.
Punjab National Bank and State Bank of India shed 7% and 6%,
respectively, while Hero Honda Motors fell 4%. DLF, down 9% at 500
rupees, was worst hit among Nifty stocks.
Suzlon Energy ended nearly 1% down, but off lows, after its arm
REPower Systems AG reported a surge in first quarter operating profit
at 10.2 mln euros from 74,600 euros a year ago, driven by higher
sales.
Capital goods and other infrastructure stocks declined on selling
pressure at higher levels.
Larsen & Toubro and Bharat Heavy Electricals fell over 4% each,
and so did GMR Infrastructure.
Rare gainers included Subex, which surged 10% amid rumours of
"accumulative" buying by interested circles, which was read as a sign
of a possible bid on the company.
Cairn India surged 2% on higher crude oil prices, while Cipla rose
1% on defensive buying.
Technology shares remained buoyant as the greenback strengthened
against the rupee, and also as the sector is also seen as a safe bet
in a weak market.
Satyam Computer Services and HCL Technologies gained around 2%
each, while Infosys Technologies, up 4% at 1,693 rupees, was top Nifty
gainer. End
KEY MARKET MOVES
* In the Nifty, 12 rose and 38 fell.
* In the Sensex, 7 rose and 23 fell.
* On BSE, there were 812 advances and 1,849 declines.
* BSE Realty: Down 8%; CNX Bank Nifty: Down 5.4%; CNX IT: Up 1.4%
------------------------------------------------------------------------------
Bombay Stock Exchange : National Stock Exchange
Sensex: 14724.18, dn 368.94 pts (2.4%) : Nifty: 4430.70, dn 98.35 pts
(2.2%)
------------------------------------------------------------------------------
B.Karthick
Research Analyst.
Thursday, Aug 14
------------------------------------------------------------------------------
Bombay Stock Exchange : National Stock Exchange
Sensex: 14724.18, dn 368.94 pts (2.4%) : Nifty: 4430.70, dn 98.35 pts
(2.2%)
------------------------------------------------------------------------------
Fear of inflation for week ended Aug 2 being much higher than
expectations pulled down key share indices by over 2% today.
A rebound in crude oil prices to around $117 a barrel on New York
Mercantile Exchange also kept the sentiment subdued throughout the
session.
Sensex ended at 14724.18, down 368.94 points or 2.4% from
Wednesday. Intra-day, it moved between 14686.66 and 15033.28.
Nifty closed at 4430.70, down 98.35 points or 2.2%. Intra-day, it
moved between 4421.25 and 4529.80.
Turnover on BSE and NSE combined was 159 bln rupees, compared with
175 bln rupees on Wednesday.
CNX Mid-cap index ended 1.9% down, and S&P CNX 500 fell 2.4%.
Interest rate-sensitive stocks took a beating yet again on worries
Reserve Bank of India will maintain a tight monetary stance in a bid
to tame inflation.
Punjab National Bank and State Bank of India shed 7% and 6%,
respectively, while Hero Honda Motors fell 4%. DLF, down 9% at 500
rupees, was worst hit among Nifty stocks.
Suzlon Energy ended nearly 1% down, but off lows, after its arm
REPower Systems AG reported a surge in first quarter operating profit
at 10.2 mln euros from 74,600 euros a year ago, driven by higher
sales.
Capital goods and other infrastructure stocks declined on selling
pressure at higher levels.
Larsen & Toubro and Bharat Heavy Electricals fell over 4% each,
and so did GMR Infrastructure.
Rare gainers included Subex, which surged 10% amid rumours of
"accumulative" buying by interested circles, which was read as a sign
of a possible bid on the company.
Cairn India surged 2% on higher crude oil prices, while Cipla rose
1% on defensive buying.
Technology shares remained buoyant as the greenback strengthened
against the rupee, and also as the sector is also seen as a safe bet
in a weak market.
Satyam Computer Services and HCL Technologies gained around 2%
each, while Infosys Technologies, up 4% at 1,693 rupees, was top Nifty
gainer. End
KEY MARKET MOVES
* In the Nifty, 12 rose and 38 fell.
* In the Sensex, 7 rose and 23 fell.
* On BSE, there were 812 advances and 1,849 declines.
* BSE Realty: Down 8%; CNX Bank Nifty: Down 5.4%; CNX IT: Up 1.4%
------------------------------------------------------------------------------
Bombay Stock Exchange : National Stock Exchange
Sensex: 14724.18, dn 368.94 pts (2.4%) : Nifty: 4430.70, dn 98.35 pts
(2.2%)
------------------------------------------------------------------------------
B.Karthick
Research Analyst.
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