Post Session Commentary - May 15 2008

Indian market closed with handsome gains due to the strong favoring cues from global markets as well as reducing of the crude oil price led the investor’s to show strong positive attitude during trading session. After a strong start to the session, the market kept on marching forward throughout the trading session as the buying intensified across the counters. From the sectoral front, the capital goods and metal stocks reported more buying across the counters. The market breadth was positive as 1772 stocks closed in green while 909 stocks closed in red.

Asian market was trading higher on the back of gain in Wall Street overnight after US consumer prices went up less than forecast and easing of crude oil prices.

The BSE Sensex closed higher by 375.19 points at 17,353.54 and NSE Nifty went up by 103.50 points to close at 5,115.25. The BSE Sensex touched an intraday high of 17,366.19 and low of 17,079.94. The BSE Mid Caps and Small Cap closed higher by 90.44 points and 111.92 points at 7,080.25 and 8,546.41 respectively.

Gainers from BSE are Hindalco (6.11%), Reliance Communication Ltd (5.31%), L&T Ltd (4.67%), Reliaqnce (3.66%), ICICI Bank Ltd (3.62%), Infosys Technologies (3.56%) and DLF Ltd (3.36%).

Losers from the BSE are Satyam Comp (3.43%), HUL (1.85%), Tata Motors (1.47%), Tata Stl (0.50%), Ranbaxy Lab (0.16%), and ITC Ltd (0.04%).

The Capital Goods Index closed higher by 454.74 points at 13,600.70. Gainers are Crompton Greaves Ltd (8.13%), Kalpat Power (5.04%), L&T Ltd (4.67%), Kirlosker Br (4.20%), Areva (3.65), Alstom Proje (3.10%), and Havells India (3.06%) Suzlon Energy (3.06%)..

The Metal index closed up 305.19 by points at 16740.37. Gainers are Hindalco In (6.11%), Nat Aluminum Co (3.87%), JSW SL (3.68%), Jindal Steel (3.27%), Sesa Goa Ltd (2.86%) and Maharastra Sea (2.16%).

The Oil & Gas index closed higher by 288.84 points at 11,205.76. Gainers are Reliance (3.66%), Reliance Natural Resources (2.55%), Essar Oil Ltd (1.72%), Reliance Petroleum (1.66%) and Cairn India (1.23%).

The Realty index closed higher by 264.87 points at 8,042.52.Gainers are Pheonox Mill (5.94%), Housing Development (4.98%), Parsvnath (4.94%), Akruti City (4.54%), Unitech Ltd (4.25%), and DLF Ltd (3.36%).

The Banking index closed up by 209.49 points at 8,806.01. Gainers are Punjab National Bank (5.81%), Yes Bank (5.36%), Kotak Bank (4.06%), Bank of India (3.94%), ICICI Bank (3.62%), and Axis bank (3.30%).