Post Market Commentary - Apr 28 2008

The Indian market closed in the negative territory after facing the volatility throughout the trading session. The market opened on a strong note tracking the firm cues from the global markets but was unable to sustain at higher levels and kept on moving between the positive and negative territory. Also, the RBI’s monetary policy review which is scheduled tomorrow and US Fed’s policy meeting on April 30 led the investors to take cautious approach through out the trading session. The market breadth was weak as 1374 stocks closed in red while 1295 stocks closed in green.

The BSE Sensex closed lower by 110.02 points at 17,015.96 and NSE Nifty fell by 22.05 points to close at 5,089.65. The BSE Mid Caps closed up by 11.19 points at 7,067.40 while Small Cap closed lower by 17.90 points at 8,709.82.

Major losers from the BSE are Siemens (9.87%), Spice Tele (4.45%), Cipla (4.08%), Infra Dev Fin (3.83%), Suzlon Energy (3.75%) and Indus Ind Bank (3.63%).

Gainers from the BSE are LIC Housing Finance (11.60%), Bharat Ele (7.39%), Deccan Aviation (6.48%), Titan inds (6.38%), Pantaloon Retail (5.98%), Sesa Goa (5.91%), Lanco Infra (5.48%).

The Capital Goods index dropped by 166.83 points to close at 13,755.04. Major losers are Siemens (9.87%), Suzlon Energy (3.75%), Alstom Projects (2.77%), ABB (1.65%), Crompton Greaves (1.54%), L&T (0.86%), Lakshmi Machines (0.79%).

The Metal index dropped by 110.96 points to close at 15,624.22. Losers are Welspun Guj (3.51%), Tata Steel (3.19%), Jindal Stainless (2.37%), Ispat inds (2.30%), Nalco (1.52%), Hindalco inds (1.48%) and JSW Steel (1.12%).

The Bankex index fell by 51.24 points to close at 8,816.84 as Karnataka bank (2.97%), Canara bank (2.68%), ICICI bank (2.31%), Federal bank (1.83%), Yes bank (0.94%), SBI (0.77%) closed in red while Kotak bank (3.11%), Union bank (2.02%) and IOB (2.15%) closed in green.

The Oil & Gas index slipped by 124.57 points to close at 11,430.02. Scrips that fell are Essar Oil (3.10%), Gail India (1.83%), Aban Offshore (1.45%), Reliance inds (1.24%), RPL (0.41%) and RNRL (0.28%).

The Realty index closed marginally higher by 18.30 points at 8,168.07. Gainers are Anant Raj inds (8.01%), Mahindra Life (4.83%), Ansal Infra (2.40%), Unitech (1.61%), Akruti City (1.52%).