Post Session Commentary - Feb 19 2008

On Tuesday, BSE Sensex ended the day on a flat note with a gain of 27.61 points, or 0.15%, at 18,075.66, while the broad-based NSE Nifty closed at 5,280.80, marginally up 3.9 points, or 0.07%.

The 30-share benchmark index, Sensex, opened with a positive gap of 167.21 points at 18,215.26 mirroring good global cues in the early trade. The index was steady in the noon trades, but after touching a day`s high of 18,314.10, it lost all its strength, due to selling pressure at the higher levels.

After losing more than 200 points from the days high, it fell into the negative for a brief period and touched a day`s low of 18,018.48. However, just before the closing, it moved up in the positive to close on a flat note.

Midcap Index rose 43.85 points (0.57%) and Small Cap Index moved up 40.19 points (0.41%).

Global markets

Asian stocks closed positive on Tuesday (Feb. 19, 2008) as concern that banks will report more subprime-related losses eased down. Investors further gained confidence after higher metals prices boosted natural-resources companies.

Market statistics



Out of the total 2,808 stocks traded at the BSE, 1,513 advanced, 1,238 declined while 57 remained unchanged.



Among the sectoral indices, BSE Auto rose 1.62%, BSE Bankex rose 0.17%, BSE Power declined 1.13%, BSE Realty dipped 1.13% and Metal was down 0.23%.



Movers and Shakers



Gainers at the Sensex were Bajaj Auto, which surged 5.58% to close at Rs 2,322.60, Ranbaxy, gained 4.81% to Rs 415.40 and ACC rose 4.42% to finish at Rs 789.45. TCS, Grasim, M&M, HUL, Cipla, L&T and Ambuja Cement also rose.



Laggards at the BSE Sensex include REL, which declined 4.41% to end at Rs 1,622.15, Hindalco dipped 2.44% to Rs 179.60 and DLF shed 2.02% to close at Rs 842.45. ITC, HDFC, RComm, Tata Steel, Satyam, ONGC and Wipro also slipped.



Top Turnover



Reliance Capital topped the turnover chart with Rs 2,652.7 million followed by Reliance Power with Rs 2,597.9 million.



New Listing



OnMobile Global (OGL), the largest telecommunications value added services provider in India, settled at a premium of 17.76%, after listing at an issue price of Rs 440 at the NSE today.

Shares touched a high of Rs 579 and a low of Rs 411. It closed with a premium of Rs 78.15, or 17.76%, at Rs 518.15. Total volume of shares traded was 25,895,949 and the total turnover was Rs 13,663.48 million at the NSE.