Post Market Commentary - March 11 2008

The Indian market after a lower opening suddenly gain grounds and managed to end in the positive zone as sustained buying continued across the board. Further, the Asian Market closed higher wit h the European market that open after the India Market are also trading with significant gain. From the sectoral front, the capital goods, Realty and Oil & Gas are the top performer of the day. However, the IT stocks are out of favor today and ended in red. The broader market has finally outperformed the benchmark index as strong buying also witnessed in the Mid Cap and Small Cap stocks.

The BSE Sensex closed higher by 199.43 points at 16,123.15 and NSE Nifty closed higher by 65.50 points at 4,865.90. The BSE Mid Cap and Small Cap also closed higher by 224.92 points and 310.37 points at 6,992.84 and 8,559.10 respectively.

The Metal index closed up by 273.13 points at 16,072.74. Major gainers are Ispat Industries (7.06%), Jindal Steel (6.97%), Sesa Goa (4.14%) and Hindalco Industries (3.07%).

The Capital Goods index surged 719.56 points to close at 14,060.65. Major gainers are Punj Lloyd (6.99%), L&T (6.90%), Siemens (6.12%) and Praj Industries (5.61%).

The Power index advanced by 159.18 points to close at 3,271.52 as Torent Power (15.47%), Tata Power (7.88%), Power Grid (7.66%), Reliance Power (6.90%) and GVK Power (6.29%) closed lower.

The Bankex index grew by 48.25 points to close at 8,487.24. Gainers are Kotak Bank (9.54%), Union Bank (8.28%), Kotak Bank (9.54%), BOB (3.47%), CBOP (2.12%).

The Oil and Gas index closed higher by 334.97 points at 10,560.64. Major gainers are Gal India (6.78%), Cairn India (3.47%), ABN Offshore (4.03%), Cairn India (3.47%) and RPL (2.78%).

From the IT index, HCL Technologies (3.16%), Wipro (2.40%), Satyam (2.98%), TCS (1.01%) closed lower.