Post Session Commentary - May 5 2008

The profit booking by the investors towards the final trading hours of the session took a lead, which led the Indian market to close on a disappointing note. The Indian market opened with marginal gains tracking the mixed cues from the global markets but the volatility gripped the market since the initial bell. Though the market got the momentum towards the mid session but was unable to sustain at the higher level and fell to close in negative. However, the investors showed some buying interest from the mid cap and small cap baskets. The market breadth was strong as 1613 stocks closed in green while 1118 stocks closed in red.

The BSE Sensex closed lower by 109.22 points at 17,490.90 and NSE Nifty fell by 35.95 points to close at 5,192.25. The BSE Mid Caps and Small Cap closed up by 61.79 points and 23.64 points at 7,299.26 and 8,845.35 respectively.

The Bankex index closed lower by 11.57 points at 9,130.61. Scrips that fell are IOB 3.11%, SBI 2.36%, PNB 1.97%, CentBOP 1.07%, HDFC bank 0.59% and ICICI bank 0.25%. Scrips that gained are Allahabad bank 6.78%, Kotak bank 5.81%, Union bank 2.77% and Yes bank 2.49%.

The Capital Goods index fell by 34.84 points to close at 14,210.03 as Areva 6.68%, Crompton Greaves 1.96%, Jyoti Structures 1.59%, ABB 1.42%, Kirloskar BR 1.16%, Punj Llyod 0.97%, Praj inds 0.63% and L&T 0.25%.

The Realty index closed up by 22.70 points at 8,741.39. Gainers are Unitech 4.01%, Penland 3.37%, Mahindra Life 2.14%, Purvankara 1.66%, Parsvnath 1.63%, Omaxe 1.15% and Phoenix mill 0.87%.

The Metal index closed up by 23.83 points at 15,887 as Maharash Sea 7.20%, Gujarat NRE 5.67%, Welspun Guj 2.04%, Jindal Saw 1.67%, Jindal Stainless 1.50%, Jindal Steel 0.94%, Hind Zinc 0.72% and Tata Steel 0.70% closed in green.

The Oil & Gas index slipped by 16.19 points to close at 11,699.18 as RNRL 2.84%, Aban Offshore 1.68%, Gail India 1.02%, BPCL 1%, RPL 0.91% and Reliance industries 0.34% closed in red.

From the IT space, I-Flex 5.36%, Aptech 3.57%, Tech Mahindra 3.18%, NIIt Techno 2.78%, HCL Techno 2.70%, Wipro 2.41%, TCS 1.72% and Satyam 1.34% closed in negative.