Monday, February 11, 2008

Post Session Commentary - Feb 8 2008

The Sensex opened with a positive gap of 83 points at 17,610. After initial nervousness, the index rallied to a high of 17,689 in early deals.

Considerable weakness in financial heavyweights like HDFC and ICICI Bank saw the index drop to a low of 17,203 - down 486 points from the day's high - in noon deals.

Renewed buying in FMCG and technology stocks helped the index recover all losses and rebound into positive zone in mid-noon trades. The index, however, could not hold gains and slipped into negative zone in late trades. The Sensex finally ended with a loss of 62 points at 17,465.

The NSE Nifty was down 13 points at 5,120.

The BSE market breadth was significantly negative - out of 2,801 stocks traded, 2,248 declined today.

INDEX MOVERS...

Hindustan Unilever (HUL) zoomed 6% to Rs 212. ITC gained 2.5% at Rs 197.

Satyam and Infosys advanced nearly 5% each to Rs 410 and Rs 1,551, respectively. Wipro gained 3% to Rs 422, and TCS added 2% to Rs 900.

Ranbaxy and Bharti Airtel advanced 2.3% each to Rs 382 and Rs 882, respectively. SBI was up 1.7% to Rs 2,191.

...AND THE SHAKERS

HDFC plunged 4.5% to Rs 2,796. DLF and ICICI Bank tumbled around 3.5% each to Rs 817 and Rs 1,067, respectively.

HDFC Bank and Larsen & Toubro dropped around 3% each to Rs 1,446 and Rs 3,527, respectively.

Tata Steel and Bajaj Auto shed 2.7% each at Rs 750 and Rs 2,217, respectively.

Mahindra & Mahindra slipped over 2% to Rs 645. Hindalco declined 1.7% to Rs 161.


VALUE & VOLUME TOPPERS

Reliance Natural Resources topped the value chart with a turnover of Rs 574 crore followed by Reliance Energy (Rs 408 crore), Reliance (Rs 268 crore), Reliance Petroleum (Rs 212 crore) and Reliance Communications (Rs 181.70 crore).

Reliance Natural Resources led the volume chart with trades of around 3.80 crore shares followed by Ispat Industries (1.54 crore), Reliance Petroleum (1.29 crore), Nagarjuna Fertilisers (1.24 crore) and IFCI (1.10 crore).

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