Friday, August 8, 2008

Post Session Market - August 08 , 2008

The market bounced back during final hours of trading to close with marginal gains. Domestic market had opened lower due to weak cues from US markets due to a rise in unemployment and poor retail figures. The number of first time claims filed in the week ending 2nd August 2008, rose by 7,000 to 455,000, the highest level since March 2002. Along with this results from US retailers including Wal-Mart have shown disappointing sales for July and an increase in crude oil price above $120 a barrel also adds to the sentiments. The market showed a lot of volatility soon after the start as annual inflation rate crossed 12% mark for first time in 13 years. Inflation stood at 12.01% for the week ended 26th July 2008, up from 11.98% for the previous week. The market after remaining in negative territory for a long time, moved up in positive territory during the closing hours, on the back of buying interest in Metal, Bank and Consumer Goods indices. NSE Nifty ended above 4,500 mark and BSE Sensex above 15,100 level. Market traded weak as selling pressure was seen in rate sensitive stocks like Realty, and IT. From the sectoral front, Metal, Consumer Goods and Bank stocks were able to gather the buying momentum. However, IT and Reality stocks remained out of favor as most of the selling was seen from these baskets. The market breadth negative as 1323 stocks closed in green while 1405 stocks closed in red and 71 stocks remained unchanged.

The BSE Sensex closed higher by 50.57 points at 15,167.82 and NSE Nifty ended marginally up by 5.65 points at 4,529.50. The BSE Mid Caps and Small Cap closed with gains of 5.37 points and 14.75 points at 5,886.97 and 7,181.74 respectively. The BSE Sensex touched intraday high of 15,228.82 and intraday low of 14,888.12.

Gainers from the BSE are Sterlite Inds (4.10%), ONGC (3.99%), ICICI Bank Ltd (2.88%), L&T Ltd (2.76%), HDFC Bank Ltd (2.11%), Hindalco (1.87%), AMruti Suzuki (1.66%), HDFC (1.48%) and Tata Steel (1.31%).

Lossers from the BSE are Grasim Indus (2.48%), Wipro Ltd (2.41%), Infosys Tech (2.41%), JP Assoc (2.08%), Satyam Computer (1.81%), ACC Ltd (1.48%) and DLF Ltd (1.15%).

The BSE Metal index closed higher by 212.85 points at 13,098.82. Gainers are NMDC Ltd (4.99%), Sterlite Indus (4.10%), Hindustan Zinc (2.45%), Hindalco (1.87%), Jindal Saw (1.77%) and Tata Steel (1.31%).

The BSE Consumer Goods index closed higher by 170.98 points at 12,565.98. Gainers are L&T Ltd (2.76%), Bharat Bijli (2.41%), Jyoti Struct (2.38%), SKF India (2.36%), Gammon India (1.96%) and Aiaengineer(2.33%).

The BSE Bank index advanced by 111.88 points to close at 7,395.03. Gainers Kotak Bank (6.04%), ICICI Bank Ltd (2.88%), Union Bank (2.75%), Indus Ind Bank (2.27%), HDFC Bank Ltd (2.11%) and Yes Bank (1.99%) closed in positive territory.

The BSE Power index ended up by 14.64 points at 32,701.10. As Torant Power ended higher (6.17%), Suzlon Energy (1.69%), ABB Ltd (1.54%), Lanco Infra (1.53%), R Power (1.47%) and GMR Infra (1.19%) closed in positive territory.

The BSE Reality index ended lower by 72 points at 5,508.88. Major lossers are Ansal Infra (3.39%), Pheonix Mill (3.36%), Indiabull Real (2.43%), Unitech (1.81%) and Penland Ltd (1.40%).

The BSE IT index lost 69.01 points to close at 3,885.56. Major lossers are Infosys Tech (2.41%), Wipro Ltd (2.41%), Satyam Computer (1.81%), Rolta India (1.30%) and TCS Ltd (1.04%).

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