Wednesday, April 23, 2008

Post Session Indian Stock Market Commentary

The Indian market closed lower after facing the volatility throughout the trading session. Though the market opened with marginal gains but was unable to sustained at higher levels as the profit booking prevailed. The cues from the US market are not in favor that led to the investors in the domestic market to take calculated steps to book their positions. Also the expiry of the April 2008 derivatives contract on this Thursday also add to the sentiments. From the sectoral point, most buying was witnessed from the Realty index.

The BSE Sensex closed lower by 85.83 points at 16,698.04 and NSE Nifty fell by 26.5 points to close at 5,022.80. The BSE Mid Caps and Small Caps closed with marginal gains of 28.79 points and 1.78 points at 7,066.41 and 8,799.86 respectively.

Major losers from the BSE are Indian Bank (7.08%), Idea Cellular (5.33%), SAIL (5.26%), MMTC (4.95%), United SPR (4.67%), Chambal fertilizers (4.45%), Suzlon Energy (3.74%), Biocon (3.70%), Oriental Bank (3.55%), Educomp Solutions (3.49%).

Gainers from the BSE are Spice Tele (15.85%), Ashok Leyland (9.71%), Mangalore Refineries (8.55%), Hind Zinc (7.23%), Welspun Guj (7.23%).

The Metal index closed marginally higher by 18.72 points at 15,548.10 as Hind Zinc (7.23%), Gujarat NRE (5.22%), Jindal Saw (4.33%) and Tata Steel (2.14%) closed in green while Sail (5.26%), JSW Steel (2.83%) and Bhushan Steel (2.07%) closed in red.

The Realty index grew by 150.03 points to close at 8,056.17. Major gainers are Purvankara (8.22%), Akruti City (3.83%), Omaxe (3.64%), Indbul Real (2.38%), Mahindra Life (2.24%), Phoenix mill (1.92%) and HDIL (2.02%).

The Capital Goods index fell by 157.74 points to close at 13,770.97. Losers are Suzlon Energy (3.74%), Bhel (2.40%), Siemens (1.85%), BEML (1.74%), Crompton Greaves (1.46%), SKF India (1.13%), Alstom Projects (0.70%) and ABB (0.66%).

The Bankex index dropped by 164.37 points to close at 8,552.46. Major losers are Oriental bank (3.55%), HDFC bank (3.01%), Canara bank (2.59%), BOB (2.14%), SBI (2.10%), Axis bank (1.47%) and Andhra bank (1.33%).

The IT index closed up by 52.38 points to close at 3,982.85. Scrips that gained are Infosys (2.94%), Wipro (2.88%), Rolta India (0.51%), TCS (0.32%).

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