Post Session Commentary - Aug 20 2008

The domestic market bounced back today and broke its five days losing streak to close with gains due to sustained buying in stocks across various sectors. Market opened on upbeat note tracking positive cues from the Asian markets as China lifted up the sentiments in Asian markets. Further market continued to sustain the positive momentum and traded with gains till end as buying support maintained across the board. The market had moved up sharply in mid afternoon trade. Positive cues from European markets also boosted up the sentiments. NSE Nifty ended above 4,400 mark and BSE Sensex above 14,600 level. From the sectoral front, most indices closed in green and among those Metal, Capital goods, Reality, Pharma and Oil & Gas stocks were leading gainers. Mid cap and Small cap stocks also witnessed buying interest. However FMCG stock remained out of favor as witnessed selling from this basket. The market breadth was positive as 1666 stocks closed in green while 969 stocks closed in red and 83 stocks remained unchanged.

The BSE Sensex closed higher by 134.50 points at 14,678.23 and NSE Nifty ended up by 47.50 points at 4,415.75. The BSE Mid Caps and Small Cap closed with gains of 60.05 points and 53.49 points at 5,826.37 and 7,066.23 respectively. The BSE Sensex touched intraday high of 14,746.20 and intraday low of 14,584.03.

Gainers from the BSE are Reliance Com Ltd (3.76%), Grasim Indus (3.64%), BHEL (3.40%), Bharti Airtel (2.99%), Ranbaxy Lab (2.71%), HDFC Bank Ltd (2.52%), DLF Ltd (1.90%), NTPC Ltd (1.41%) and JP Associates (1.27%).

The BSE Capital Goods index advanced by 207.11 points at 12,269.52. Major gainers are Reliance Industrial Infra (5.00%), Walchand In (4.99%), Gammon Indi (3.71%), Rajesh ABB Ltd (3.43%), BHEL (3.40%) and Elecon Eng C (3.22%).

The BSE Metal index ended up by 202.85 points at 12,475.65. Gainers are SAIL (5.53%), NMDC Ltd (5.00%), Ispat Industries (4.74%), Jindal Steel (2.49%), Ispat Jindal Saw (2.44%), and Hindustan Zinc (2.19%).

The BSE Reality index closed higher by 90.61 points at 5,207.81 as Orbit Co (5.00%), Parsvnath (3.21%), Mahindra Life (3.14%), Akruti City (2.77%), Sobha Dev (2.58%) and Unitech Ltd (2.52%) closed in positive territory.

The BSE Pharma index gained 69.97 points to close at 4,336.76. Major gainers are Opto Circuit (6.52%), Matrix Lab (4.33%), Wockhardt Lt (3.52%), Ranbaxy Lab (2.71%), Sun Pharma (2.66%) and Cipla Ltd (2.50%).

The BSE Oil & Gas index ended up by 44.56 points at 10,032.47 as Relaince Nat Res (3.98%), Gail India (1.54%), Reliance Petroleum (1.25%), Reliance (1.03%), BPCL (0.93%) and Essar Oil Ltd (0.86%) closed in positive territory.

The BSE FMCG index closed marginally lower 1.14 points at 2,161.71. Lossers are United Spr (2.07%), Marico Ltd (1.86%), HUL (0.41%), Nestle Ltd (0.33%), ITC Ltd (0.11%), and Godrej Cons (0.08%).