Post Market Commentary - Jan 30 2008

The Indian Market closed with heavy losses for the third straight trading session. Though the market opened higher backed by favoring cues from the global market but was unable to sustain all its gains at higher levels and fell soon after the start of the session. The investors took calculated steps in booking their further positions, as the Federal Open Market Committee will be announcing its interest rates today as well as due to expiry of January derivatives contracts tomorrow. The Mid Caps and Small Caps also joined the rally of the benchmark indices as they also faced heavy profit booking. The BSE Sensex closed lower by 333.20 points at 17,758.64 while NSE Nifty fell by 113.2 points to close at 5,167.60. The BSE Mid Cap and Small Cap indices also closed lower by 192.18 points and 230.81 points at 7,829.06 and 10,146.86 respectively.

BSE Metal index dropped by 134.42 points to close at 15,406.33. Scrips that fell are Ispat Industries (6.57%), Jindal Steel (4.78%), Jindal Stainless (4.08%), NALCO (2.23%).

BSE Oil & Gas index slipped by 497.21 points to close at 10,684.56. Losers are RNRL (6.66%), BPCL (5.96%), Essar Oil (5.64%), ONGC (4.94%), IOCL (4.11%).

BSE Auto index closed down by 111.28 points at 4,812.46 as TVS Motors (5.03%), Bajaj Auto (4.62%), Tata Motors (2.74%), Maruti Suzuki (1.70%) closed in red.

BSE Capital Goods index closed lower by 336.15 points at 16,625.91. Losers are Elecon Eng (11.36%), Lakshmi Machine (6.96%), Jyoti Structures (5.28%) and ABB (4.31%).

BSE Bankex index fell by 220.56 points to close at 10,899.86. Scrips that fell are CentBOP (4.44%), Kotak bank (4.38%), IOB (4.20%), BOB (4.03%), BOI (3.56%).

BSE Realty index slipped by 252.88 points to close at 10,148.19. Scrips that lost are Mahindra Life (6.77%), Penland (6.19%), Ansal Infra (5.51%), Omaxe (4.72%).

BSE Power index dropped by 113.49 points to close at 3,822.67 as Suzlon Energy (6.40%), Reliance Energy (5.44%), Power Grid (4.97%), NTPC (4.70%) closed lower.