Post Session Commentary - Aug 18 2008

The domestic market ended the day with losses after showing volatility throughout the day. Market opened on downbeat note tracking weak cues from the Asian markets and soon moved into the positive territory due to some buying in key stocks. But the same momentum was not maintained and market turned volatile with negative bias. Tough selling pressure led market remained weak during final trading hours and close in red. Weak Asian and European markets also fueled to negative sentiments. NSE Nifty ended below 4,400 mark and BSE Sensex below 14,600 level. From the sectoral front, most of the indices closed in red and among that, most of the selling was seen from Metal, Oil & Gas, Consumer Durable, Capital goods, Auto and Power stocks However, IT index was in limelight as witnessed most of the buying from this basket. The market breadth was positive as 930 stocks closed in green while 1668 stocks closed in red and 78 stocks remained unchanged.

The BSE Sensex closed lower by 78.52 points at 14,645.66 and NSE Nifty ended down by 37.65 points at 4,393.05. The BSE Mid Caps closed with losses of 41.62 points at 5,781.801 and Small Cap ended lower by 73.83 points 7,036.61. The BSE Sensex touched intraday high of 14,824.92 and intraday low of 14,600.65.

Lossers from the BSE are Hindalco (4.53%), Grasim Indus (4.52%), Reliance Com Ltd (2.71%), M&M Ltd (2.56%), ACC Ltd (2.52%), Reliance (2.21%), Tata Steel (2.14%), JP Associates (1.86%) and ITC Ltd (1.83%).

The Metal index closed down by 229.73 points at 12,364.17. Lossers are Hindalco (4.53%), Jai Corp Ltd (3.92%), Ispat Indus (3.92%), Jindal Saw (2.58%), Steel Authority (2.47%), and Tata Steel (2.14%).

The Oil & Gas index ended down by 200.44 points at 9,996.61. As Gail India (5.56%), HPCL (3.63%), Reliance Pet(3.15%), Essar Oil Ltd (2.97%), Reliance Nat Res (2.67%) and Aban Offshore (2.43%) closed in negative territory.

The BSE Capital Goods index dropped by 50.15 points at 12,132.00. Major lossers are Aiaengineer (3.70%), Reliance Industrial Infra (3.46%), Suzlon Energy (3.17%), ABBLtd (3.12%), Crompton Greaves (2.96%) and Lakshmi Ma W (2.66%).

The BSE Auto index lost 50.39 points to close at 3,882.66. Major losers are Amtek Auto (3.69%), M&M Ltd (2.56%), Bajaj Auto (1.66%), Tata Motors (1.61), Bharat Forge (1.59%) and Maruti Suzuki (1.44%).

The BSE Power index closed lower by 40.28 points at 2,608.35. Lossers are Lanco Infra (5.12%), Suzlon Energy (3.17%), ABB Ltd (3.12%), Crompton Greaves (2.96%), Siemens Ltd (2.25%), and Torrent Power (1.89%).

The BSE IT index ended higher by 29.42 points at 5,199.20. As Rolta India (5.10%), Moser Bayer (3.76%), Rolata India (1.75%), Satyam comp (1.75%), TCS Ltd (1.24%) and Infosys Tech (0.77%), Wipro Ltd (0.64%) closed in positive territory.