Post Market Commentary - Apr 15 2009

The market undid most of the day’s losses towards the close. Taking lead from weak global indices, the Sensex resumed lower from its previous close and the moodremained sombre with market slipping on profit booking in index pivotals and information technology (IT) stocks. The market once again witnessed selling pressure and the Sensex touched the day's low of 10719. Though the market erased most of its loss by noon trades, the pull-back from lower levels came toward the close, after a fresh bout of buying in several frontline stocks saw the Sensex touch an intra-day high of 11338. The Sensex ended the session 318 points up at 11285, while Nifty moved up by 102 points to 3484.

The market breadth was positive however. Of the 2,703 stocks traded on the BSE 2,173 stocks advanced, whereas 463 stocks declined. Sixty seven stocks ended unchanged. Of the 13 sectoral indices on the BSE, only one- -the BSE IT ended lower. Wiping its losses, BSE Realty moved up 8.79% topping the list, while BSE CG (capital goods’ index), occupying the second slot, was up by nearly 7.36%. Rest of the indices were up 1-5% each.

Several Sensex stocks registered decent gains. Tata Motors flared up 11.50% at Rs281.20, DLF jumped by 10% at Rs256.80 and Bharat Heavy Electricals Ltd gained 9.48% at Rs1669.85. ICICI Bank, Larsen & Toubro, State Bank of India, Ranbaxy Laboratories and Sun Pharmaceutical Industries were up by more than 5% each. Among laggards, Infosys shot down by 2.72% at Rs1370.80, Tata Consultancy Services lost 2.39% at Rs577.55 and HDFC Bank lost 1.17% at Rs1083.90. Tata Power, Sterlite Industries, ITC and ONGC were down by 0.25-1% each.

Realty stocks were in limelight and closed with strong gains. Ansal Properties and Infrastructure vaulted 17.07% at Rs39.10, Unitech soared 14.81% at Rs48.05, Peninsula Land surged 10.33% at Rs34.70 and DLF advanced 10% at Rs256.80.

Unitech attracted volumes of over 4.24 crore shares on the BSE followed by Cals Refineries (3.12 crore shares), Reliance Natural Resources (2.65 crore shares) and Suzlon Energy (1.84 crore shares).