Post Market report on 05.08.2008

[B. Karthick]

India Stocks Review: Market ends up 3% as crude oil prices plunge
Tuesday, Aug 5
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Bombay Stock Exchange : National Stock Exchange
Sensex: 14961.07, up 383.20 pts (2.6%) : Nifty: 4502.85, up 107.50 pts
(2.45%)
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Global crude oil prices plunging to a three-month low of $118 a
barrel on New York Mercantile Exchange helped key local share indices
to end firm today, after a weak start.
Key indices ended nearly 3% up, led by gains in stocks in interest
rate sensitive sectors--realty, banking and automobile.
The rally today was largely because of a fall in crude oil prices,
and also as European markets were firm. Interest rate-sensitive stocks
rose on genuine buying as valuations have become attractive as well as
due to short covering.
Nifty closed above 4500 today, for the first time since Jun 19. It
ended at 4502.85, up 107.50 points or 2.45% from Monday. Intra-day, it
moved between 4376.00 and 4515.15.
Sensex ended at 14961.07, up 383.20 points or 2.6% from Monday.
Intra-day, it moved between 14529.21 and 14986.63.
Turnover on BSE and NSE combined was 242 bln rupees, compared with
195 bln rupees on Monday.
CNX Mid-cap index ended 1.65% up, and S&P CNX 500 rose 2.4%.
Key European markets were trading up 1%-2%.

GAINERS
A combination of short covering and value buying lifted the shares
of interest rate-sensitive companies. Unitech and ICICI Bank ended
around 8% up each, at 182 rupees and 694 rupees, respectively.
HCL Technologies, up over 9% at 240 rupees, was top Nifty gainer.
The stock extended gains from the previous session after reporting
robust operating performance in Apr-Jun.
HCL Technologies' earnings before interest, tax, depreciation and
amortisation margin for Apr-Jun stood at 23.4%, up 180 basis points
from a year ago.
Cement shares also saw value buying for the second straight
session. Grasim Industries ended 6% up at 2,008 rupees and ACC rose 5%
to 616 rupees.

LOSERS
Shares of metal companies were the worst hit among Nifty stocks as
global metal prices slumped.
Sterlite Industries, down nearly 7%, was the major loser with
copper prices in Shanghai tumbling to a six-month low.
Tata Steel ended over 2% down at 676 rupees tracking the fall in
global peers.
Drop in crude oil prices hit shares of Cairn India, which ended 4%
down at 233 rupees.
Ranbaxy erased gains, after rising 2% in early trade, on reports
Japan's Daiichi Sankyo has got Securities and Exchange Board of
India's approval for its open offer. The stock ended 1% down at 517
rupees.
Shares of Tata Power ended off lows after the company told that
Temasek Holdings Pvt Ltd of Singapore has short-listed it as a bidder
for Senoko Power. The stock ended nearly 2% down at 1,102 rupees.

KEY MARKET MOVES
* In the Nifty, 44 rose and 6 fell.
* In the Sensex, 26 rose and 4 fell.
* On BSE, there were 1,780 advances and 923 declines
* BSE Bank: Up 6.65%; BSE Realty: Up 6.6% ; BSE Auto: Up 4.1%
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Bombay Stock Exchange : National Stock Exchange
Sensex: 14961.07, up 383.20 pts (2.6%) : Nifty: 4502.85, up 107.50 pts
(2.45%)
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B.Karthick
Research Analyst.