Post Session Commentary - July 28 2008

The domestic market managed to conclude the day with marginal gains after showing a lot of volatility during the trading session ahead of the RBI''s quarterly review, which is scheduled tomorrow (29-July 2008).The Indian market opened flat and soon turned volatile on sense of uneasiness due to the serial blasts in Bangalore and Ahmedabad. Further it was not able to maintain stability and showed sea saw movement tracking negative cues from the European markets and mixed cues from the Asian Markets. Further, due to some buying from the key indices led the market to close in green. The BSE Sensex ended below 14,400 and NSE Nifty closed below 4,400. BSE Small Cap gained around 2%. From the sectoral front, the Capital Goods, Oil & Gas, Reality, Consumer Durables and Pharma were able go gain favor from market as most of the buying was seen from these baskets. While the Metal, Power, IT and Auto stocks remained out of favor. The market breadth was positive as 1767 stocks closed in green while 848 stocks closed in red and 77 stocks remained unchanged.

The BSE Sensex closed higher by 74.17 points at 14,349.11 and NSE Nifty ended up by 20.25 points at 4,332.10. The BSE Mid Caps and Small Cap closed with gains of 58.19 points and 134.20 points to 5,630.78 and 6,912.98 respectively. The BSE Sensex touched intraday high of 14,421.61 and intraday low of 14,219.38.

Gainers from the BSE are L&T Ltd (3.73), Tata Power (3.56%), ACC Ltd (3.34%), ONGC (3.00%), Ranbaxy Lab (2.60%), Reliance Com Ltd (1.82%), DLF Ltd (1.77%), Reliance (1.48%) and TCS Ltd (1.01%).

The BSE Capital Goods index advanced 168.54 points to close at 11,906.81. Major gainers are Reliance Industrial Infra (5.00%), Walchand In (4.99%), Jyoti Struct (3.95%), L&T Ltd (3.73), Thermax Ltd (2.87%) and Praj Industries Ltd (2.28%).

The Oil & Gas index ended up by 148.48 points at 9,652.90. As ONGC (3.00%), Cairn India (2.23%), BPCL (1.86%), Cairn India (1.84%), Reliance Petroleum (1.72%) and Relaince (1.48%) closed in positive territory.

The BSE Reality index closed higher by 50.06 points at 5,079.12. Major gainers are Pheonix Mill (9.89%), Anant Raj Industries (7.52%), Orbit Co (4.99%), Penland Ltd (4.59%), MAhindra Life (2.42%), and Indian DLF Ltd (1.77%).

The BSE Consumer Durables index gained 36.93 points to close at 3,660.72. Major gainers are Blue star L (3.50%) along with Videocon India (1.80%) and Rajesh Exports (1.02%).

The BSE Pharma index ended up by 16.53 points at 3,202.67. As Ster Biotech (5.34%), Wockhardt Ltd (4.92%), Ranbaxy Lab (2.60%), Biocom Ltd (2.31%), Glaxo Smith (2.20%), Bil Care Ltd (1.92%) and Apollo Hos E (1.52%) closed in positive territory.

The Metal index closed down by 125.38 points at 12,366.72. Lossers are Sterlite In(3.47), Nalco (3.06%), Gujarat Nre C (3.05%), Tata Steel (2.26%), Hindalco (2.21%), and Steel Authority (1.40%).