Post Market Commentary - Apr 30 2008

The Indian market closed in the negative territory as the profit booking took a lead in a volatile trading session. The market was unable to sustain at higher level after a firm start and fell to pare all its initial gains. A holiday yesterday due to the celebration of Maharastra Day tomorrow and the US Federal Reserve Policy meeting scheduled to be held later on the day led the investors to take calculated steps to clear up their positions.
The market breadth was weak as 1397 stocks closed in red while 1296 stocks closed in green.

The BSE Sensex closed lower by 91.15 points at 17,287.31 and NSE Nifty fell by 29.6 points to close at 5,165.90. The BSE Mid Caps and Small Cap fell by 8.21 points and 11.74 points to close at 7,138.74 and 8,773.57 respectively.

Major losers from the BSE are IFCI (9.86%), Alstom Projects (8.74%), Naga Fert (8.49%), Chambal Fert (6.75%), RCF (4.82%), Cairn India (4.67%), Titan Inds (4.50%) and Hind Zinc (4.44%).

Major gainers from the BSE are Praj inds (14.76%), Nestle (9.15%), Lanco Infra (8.79%), GTL Infra (8.33%), Deccan CHR (6.25%), I-Flex (6.03%) and Glaxosmithkline (5.48%).

The Realty index dropped by 144.75 points to close at 8,505.49. Major losers are Anant Raj (4.39%), DLF (2.84%), Unitech (2.24%), Penland (1.98%), Indbull Real (1.72%), Sobha Dev (1.4%) and Parsvnath (0.54%).

The Metal index fell by 78.57 points to close at 16,114.40. Losers are Hind Zinc (4.44%), Sterlite inds (4.08%), SH. Precoated (3.68%), Jindal Stainless (3%), Welspun Guj (2.61%), Maharash Sea (2.40%) and Nalco (2.06%).

The Capital Goods index closed flat at 13,931.25. Gainers are Praj Inds (14.76%), AIA Engineering (5.08%), Kir Oil Eng (3.80%), ABB (0.55%) and BHEL (0.27%) closed in green while Alstom Projects (8.74%), Areva (3.34%), Jyoti Structures (2.09%) and Thermax (1.99%) closed in red.

The Bankex index slipped by 145.07 points to close at 8,819.68. Scrips that fell are Federal bank (2.91%), PNB (2.46%), ICICI bank (2.43%), Axis bank (2.12%), HDFC bank (2.11%), Union bank (1.84%) and IOB (0.94%).

The Oil & Gas index closed lower by 180.71 points at 11,480.55 as Cairn India (4.67%), RNRL (3.47%), Aban Offshore (2.49%), ONGC (1.84%), Reliance industries (1.44%), Essar Oil (1.16%) and RPL (0.49%).