Post Session Commentary - Aug 7 2008

The domestic market managed to close with marginal gains after remained unstable during the trading session. Market opened slightly lower due to weak cues from Asian markets. Further gained some ground as buying action was witnessed across board. However, same momentum did not sustain for long as the volatility griped the market ahead of inflation number for the week ended 26th July 2008, which is due to come out today evening. NSE Nifty ended above 4,500 mark and BSE Sensex above 15,100 level. From the sectoral front, Consumer Durables, Auto, Bank, Reality and IT stocks tried to offset the negative sentiment as were able to gather the buying momentum. However, Capital Goods, Oil & Gas and Power stocks remained out of favor as most of the selling was seen from these baskets. The market breadth was just above positive as 1406 stocks closed in green while 1284 stocks closed in red and 95 stocks remained unchanged.

The BSE Sensex closed higher by 43.71 points at 15,117.25 and NSE Nifty ended marginally up by 6.30 points at 4,523.85. The BSE Mid Caps closed with gains of 26.18 points at 5,881.60 and Small Cap ended up by 22.86 points 7,166.99. The BSE Sensex touched intraday high of 15,280.06 and intraday low of 14,992.97.

Gainers from the BSE are Sterlite Inds (4.43%), Tata Motors (4.10%), HDFC (3.37%), Grasim Ind (2.49%), M&M Ltd (2.48%), Maruti Suzuki (2.41%), Satyam Computer (2.25%), DLF Ltd (1.88%) and NTPC Ltd (1.78%).

Lossers from the BSE are BHEL (2.88%), Bharti Airtel (2.25%), Reliance Com Ltd (1.78%), Ranbaxy Lab (1.68%), HUL (1.47%), Wipro Ltd (1.09%), Tata Power (1.06%) and Reliance (1.06%).

The BSE Consumer Durables index closed higher by 110.66 points at 3,977.97. Gainers are Gitanjali Ge (6.48%), Titan Ind (3.89%), Videocon Ind (2.67%), Rajesh Export (1.72%) and Blue Star L (0.71%).

The BSE Bank index advanced by 47.77 points to close at 7,283.15. Gainers HDFC Bank Ltd (3.03%), PNB (1.09%), Bank of Baroda (0.91%), Axis Bank (0.61%) and Federal Bank (0.16%) closed in positive territory.

The BSE Auto index ended up by 47.39 points at 3,967.03. As Tata Motors ended higher (4.10%), M&M Ltd (2.48%), Maruti Suzuki (2.41%), Ashok Leyland (1.69%), Apollo Tyre (1.39%) and Bosch Ltd (0.71%) closed in positive territory.

The BSE Reality index ended higher by 38.21 points at 5,580.88. Major gainers are Ansal Infra (14.87%), Omaxe Ltd (3.51%), Parsvnath (3.13%), DLF Ltd (1.88%), Unitech (1.27%) and Orbit Co (1.15%).

The BSE IT index gained 31.20 points to close at 3,954.87. Major gainers are Moser Bayer (4.02%), Mphasis Ltd (3.14%), Aptech Ltd (2.53%), Satyam Computer (2.25%) and Patni Computer (2.05%).

The BSE Capital Goods index closed lower by 87.98 points at 12,394.90. Lossers are Crompton Greaves (3.33%), BHEL (2.88%), Jyoti Struct (2.86%), Bharat Bijli (2.40%), Gammon India (1.96%) and Areva (1.58%).

The Oil & Gas index closed down by 34.62 points at 10,153.07. Lossers are Reliance Pet (2.07%), BPCL (1.41%), Reliance (1.06%) and HPCL (0.71%).