Wednesday, July 9, 2008

Post Session Market - July 9, 2008

The domestic markets concluded the day with handsome gains on huge buying across the board. The market opened strongly after a sharp pull back from yesterday on the back of positive cues from the US markets like encouraging statement from Fed Chairman Ben Bernanke that central bank may extend its emergency-loan program for investment banks into next year. Also the drop in crude oil price to $136 per barrel gave a boost to the market. The market maintained its opening gains and continued to trade strongly on the back of sustained buying to close with smart gains. It was a very good day for the market as it had not shown any sign of weakness and BSE Sensex crossed 13,900 mark with increase of 4.60% and NSE Nifty crossed 4,100 mark with gain of 4.23%. From the sectoral front, all indices closed in green and Capital Goods, Metal, Oil & Gas, Reality and Bank stocks were in limelight as strong buying witnessed in these baskets. Reality index closed with gain of more than 6%. Among the sensex30 pack, all indices closed in green. The market breadth was extremely positive as 2130 stocks closed in green while 529 stocks closed in red and 67 stocks remained unchanged.

The BSE Sensex closed higher by 614.61 points at 13,964.26 and NSE Nifty ended up by 168.55 points at 4,157.10. The BSE Mid Caps and Small Cap closed positive with gain of 154.69 points and 227.26 points 5,470.68 and 6,789.88 respectively. The BSE Sensex touched intraday high 13,998.48 of and intraday low of 13,581.41.

Gainers from the BSE are Reliance Infra (10.66%), JP Associates (10.00%), Tata Motors (7.49), ITC Ltd (6.78%), Reliance Com Ltd (6.15%), TCS Ltd (5.92%), HDFC Bank Ltd (5.72%), BHEL (5.14%), Reliance (5.12%) and Bharti Airtel (4.99%).

The Capital Goods index closed up by 510.62 points at 11,364.76. Gainers are Alstom Proje (8.49%), Bharat Elect (7.30%), Suzlon Energy (6.25%), ABB Ltd (6.16%), Lakshmi Ma W (6.16%) and Punj Lloyd (5.70%).

The Oil & Gas index ended higher by 389.74 points at 9,133.10. As Essar Oil Ltd (8.30%), Gail India (7.57%), BPCL (7.40%), Reliance Natural Resources (7.20%) and Reliance (5.12%) closed in positive territory.

The Metal Index went up by 375.84 points to close at 12,642.62. Gainers are Steel Authority (6.20%) along with Ispat Indus (5.88%), Jindal Steel (5.34), SH Precoated (5.34%), Tata Steel (4.07%)and Maharashtra Seamless (3.69%).

The Bank Index closed higher by 287.39 points at 6,183.53. Gainers are Axis Bank (10.08%) along with Kotak Bank (7.63%), Bank of India (6.32%), HDFC Bank Ltd (5.72%), ICICI Bank Ltd (4.72%) and Union Bank (4.48%).

The Reality index ended up by 280.18 points at 4,901.16. Gainers are Purvankara (9.91%), Penland Ltd (8.74%), Anant Raj Indus (8.73%), Housing Development (7.69%), Unitech Ltd (7.28%), Omaxe Ltd (7.24%), and Indiabulls Real (6.87%).

The IT index gained 174.12 points to close at 4,220.07. Major gainers are Aptech Ltd (10.90%), TCS Ltd (5.92%), Tech Mahindra (5.42%), Rolta India (5.30), Infosys Tech (4.90%) and NIIT Ltd (4.62%).

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