Post Session Commentary - Aug 11 2008

The domestic market ended with handsome gains after showing positive run for throughout of trading session on account of heavy buying activity across the board. Market opened on strong note tracking favorable cues from global markets and sharp drop in crude oil prices. Oil tumbled $4.82, to $115.20 a barrel. Further, market continued its northward journey to trade sharply higher and gain more grounds during final trading hours to close with smart gains. Positive cues from the European markets also added to the positive sentiment. NSE Nifty ended above 4,600 mark and BSE Sensex crossed 15,500 level. Rate sensitive stocks, infrastructure and oil stocks had played key role in today’s rally. From the sectoral front, Reality stocks outperformed the benchmark index and closed with gain of more than 5%. Along with this, Oil & Gas, Bank, Metal and Auto stocks were also in limelight as witnessed most of the buying pressure from these baskets. However, Consumer Durables and IT stocks remained out of favor as most of the selling was seen from these baskets. The market breadth was positive as 1738 stocks closed in green while 970 stocks closed in red and 68 stocks remained unchanged.

The BSE Sensex closed higher by 336.10 points at 15,503.92 and NSE Nifty ended up by 90.90 points at 4,620.40. The BSE Mid Caps and Small Caps closed with gains of 95.71 points and 89.61 points at 5,982.68 and 7,271.35 respectively. The BSE Sensex touched intraday high of 15,520.71 and intraday low of 15,367.97.

Gainers from the BSE are JP Associates (7.68%), Reliance Infra (6.86%), ICICI Bank Ltd (5.74%), Maruti Suzuki (5.27%), SBI (4.65%), ONGC (3.70%), Reliance Com Ltd (3.65%), DLF Ltd (3.57%) and Reliance (3.36%).

The BSE Bank index closed higher by 307.32 points at 7,702.35. Gainers are Canara Bank (7.39%), ICICI Bank Ltd (5.74%), SBI (4.65%), Bank of India (4.28%), Karnataka Bank (3.89%) and Bank of Baroda (3.64%).

The BSE Oil & Gas index ended up by 298.17 points at 10,437.27. As ONGC (3.70%), Reliance (3.36%), Gail India (2.86%), HPCL (2.70%) and IOC (2.58%) closed in positive territory.

The BSE Reality index ended higher by 290.49 points at 5,799.37. Major gainers are Indiabull Real (13.73%), Unitech Ltd (6.27%), DLF Ltd (3.57%), Mahindra Life (2.84%), Omaxe Ltd (2.61%) and Penland Ltd (2.51%).

The BSE Capital Goods index closed higher by 280.57 points at 12,846.45. Gainers are Gammon India (8.39%), Elecon Eng C (7.02%), Jyoti Struct (6.75%), Aiaengineer (5.67%), Bharat Bijli (4.68%) and Thermax Ltd (4.66%).

The BSE Auto index ended up by 87.23 points at 4,057.50. As Maruti Suzuki (5.27%), Bharat Forge (3.49%), Bajaj Auto (3.16%), Apollo Tyre (2.95%), Amtek Auto L (2.90%) and M&M Ltd (2.78%) closed in positive territory.

The BSE Consumer Durables index lost 4.27 points to close at 3,981.31. Major lossers are Videocon Ind (1.99%) and Blue Star L (0.22%).

The BSE IT index closed down by 3.79 points at 3,882.07. Major lossers are Mphasis Ltd (2.40%), Patni Computer (1.37%), TCS Ltd (1.06%), Infosys Tech (0.58%) and Rolta India (0.12%).