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Thursday, August 14, 2008
Bullion metals rise after eight sessions of drop
Gold and silver metals attract buyers despite a strong dollar
It seems bullion metals are done with their losses. Gold and silver prices rose today, Wednesday, 13 August, 2008 despite a strong dollar. Before today, gold and silver prices had registered losses in all the trading sessions in the current month of August, 2008 and had shed 12% in this month. Bullion metals had also incurred sufficient losses last week. Silver prices also fell for the day.
Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies. On the other hand, a lower dollar pushes up precious metal prices as their demand lessens as it becomes cheaper for traders holding other currencies. Gold has traditionally been used as a safe-haven asset against rising inflation. Investor sentiments are boosted by the fact that gold and silver are alternate sources of good investment in the face of declining dollar and rising energy prices and vice versa.
Comex Gold for December delivery rose $16.9 (2.1%) to close at $831.5 ounce on the New York Mercantile Exchange. With today’s rise, it lost 9.6% in August, 2008 till date. Last week, it ended lower by 5.8%. On 17 March, 2008 prices had skyrocketed to a high of $1,034/ounce. But prices have dropped 20% since then.
This year, gold prices have lost 0.8% till date as the dollar rallied against the euro. It has lost almost $91 in August till now. Gold ended July, 2008 lower by $11 (1.1%).
Prior to that, the yellow metal ended second quarter with a marginal gain of 0.7%. It ended June, 2008 with a gain of 4.1%. In May, it ended with a gain of higher by $22.5 (2.5%). Before May, in April, prices closed lower by 6.3%. For first quarter prices gained 10.7%. In January, prices gained 11%, the highest monthly gain since April 2006. For February, it gained 6%. But in March, prices succumbed and fell by 5.5%.
On Wednesday, Comex silver futures for September delivery rose 36 cents (2.5%) to $14.845 an ounce. With today’s drop silver has lost almost 0.5% in 2008 till date. Last week it lost 12.5%. It ended July 2008 with a gain of 3%. For the second quarter, it had gained a paltry 1.4%. Silver had gained 16% in Q1. The metal also had gained for seven straight years.
At the currency markets on Wednesday, the U.S. dollar hit the highest since at least March vs. the euro and other major currencies after a report showed U.S. retail sales fell less than forecast in July. The dollar index, which measures the greenback against a basket of currencies, rose to 76.24 from 76.13 in the previous day. The high for the index Wednesday was 76.52.
In economic news today, the Commerce Department said purchases at retailers declined 0.1% last month. Excluding automobiles, sales rose 0.4% last month. Separately, the Labor Department said import prices rose 1.7% in June, compared with a 1% gain forecast.
At the crude market on Wednesday, crude oil futures rose more than $2 a barrel after a U.S. Energy Department report showed a bigger- than-forecast decline in inventories of gasoline as refiners shut units and imports fell. Crude oil for September delivery rose $2.99 (2.6%) to settle at $116 a barrel.
Earlier this year, the weakening dollar and higher global demand for raw materials had led to records this year for commodities including gold. The Federal Reserve halted cuts to its target bank lending rate in April, after slicing it in seven steps to 2% from 5.25% in September.
Gold had witnessed the greatest annual gain in twenty eight years by gaining $200/ounce (31%) in FY 2007 as lower interest rates had sent the dollar tumbling, and crude-oil prices rose to a record. Silver had climbed 16% in FY 2007. In 2006, silver had jumped 46% while gold gained 23%.
Crude registers sudden rise
Prices rise by almost $3 on weekly inventory report
Crude oil prices surged today, Wednesday, 13 August, 2008 after the weekly inventory report by the Energy Department showed that crude and crude product supplies declined bigger than expected last week. Crude had shed almost $7 in last four sessions. Crude had lost almost 8% ($10) last week too.
Crude-oil futures for light sweet crude for September delivery closed at $116/barrel (higher by 2.99 or 2.6%) on the New York Mercantile Exchange. Last week, crude prices ended lower by $9.9 (8%). Before that crude lost $15.92 (11%) in July, 2008, the biggest ever in dollars. Prices are 62% higher than a year ago.
EIA reported today that crude supplies fell 316,000 barrels to 296.5 million barrels for the week ended 8 August, 2008. Supplies were expected to rise by 300,000 barrels. Refinery utilization dropped to 85.9% of capacity, from 87% a week earlier.
EIA also reported that motor gasoline supplies fell by 6.4 million barrels to 202.8 million and distillate stocks were down 1.7 million barrels at 131.6 million barrels.
As per demand data, U.S. fuel demand averaged 20.2 million barrels a day during the past four weeks, down 2.8% from a year earlier. Motor gasoline demand over the past four weeks has averaged 9.4 million barrels per day, down 1.9% from the same time a year ago.
At the currency markets on Wednesday, the U.S. dollar hit the highest since at least March vs. the euro and other major currencies after a report showed U.S. retail sales fell less than forecast in July. The dollar index, which measures the greenback against a basket of currencies, rose to 76.24 from 76.13 in the previous day. The high for the index Wednesday was 76.52.
Earlier this week, the International Energy Agency today reported that tight global oil demand and supply balance, which has helped push up crude prices to record highs, is easing as higher prices and slower economic growth in developed countries is curbing oil demand. Despite that, IEA inched up its 2009 demand estimate for oil products while keeping its 2008 view unchanged. For this year, it estimates oil demand rising 0.9% to 86.9 million barrels of oil a day. For 2009, it estimates rising 1.1% to 87.8 million barrels. In a separate report, the U.S. Energy Department's Information Administration lowered its outlook for oil prices, citing slower demand growth and rising production capacity.
Crude prices had gained 38% in the second quarter of this year. It was the biggest quarterly increase in nine years. It ended June 2008 higher by 9.9%. For the year, crude is up by 19.3% till date.
Brent crude oil for September settlement rose $2.32 cents (2.1%) to settle at $113.47 a barrel on London's ICE Futures Europe exchange.
Against this background, September reformulated gasoline rose 8.9 cents to close at $2.9323 a gallon, and September heating oil gained 5.4 cents to close at $3.1317 a gallon.
Wednesday, August 13, 2008
Post Market Commentary - Aug 13 2008
Indian equities wrapped the day on a subdued note as investors are waiting for the outcome of SEBI`s board meet to review the rules regarding issuance of participatory notes. Weak global cues also added to the negative sentiments of investors. The index traded in a rangebound manner (15,000-15,200). Banking, realty, capital goods, power, auto and metal stocks lost ground while IT, pharma and FMCG stocks witnessed some buying interest.
BSE Midcap and Smallcap index too ended on a flat note.
The stock market opened on a negative note on Wednesday, August 13 on weak global cues. The index extended its losses after a sharp decline in the previous session.
The Sensex ended the day with a loss of 119.01 points, or 0.78% at 15,093.12 after touching a high of 15,272.56 and a low of 15,013.06. The broad-based NSE Nifty declined 23.20 points, or 0.51% at 4,529.05 after hitting a high of 4,572.65 and a low of 4,497.25.
Major gainers in the 30-share index were Sterlite Industries (India) (2.67%), Infosys Technologies (1.34%), Tata Consultancy Services (1.20%), Satyam Computer Services (0.87%), NTPC (0.57%), and Tata Steel (0.41%).
On the other hand, ICICI Bank (3.77%), HD FC Bank (3.69%), DLF (3.29%), Reliance Energy (2.45%), Housing Development Finance Corporation (2.13%), and Hindalco Industries (2.00%) were the major losers in the Sensex.
Overall market breadth was negative. Out of the total 2,749 stocks traded at BSE, 1,238 advanced, 1,420 declined while 91 remained unchanged.
Sensex down 119 pts, closes at 15,093
Extending the losses for the second day in a row today, the Bombay Stock Exchange benchmark Sensex lost over 119 points with bank and realty stocks coming under selling pressure yet again.
The 30-share BSE barometer, which shed over 291 points in previous day's trading, closed lower by further 119.01 points at 15,093.12.
The Sensex touched the day's low of 15,013.06 and a high of 15,272.56 points.
The National Stock Exchange index Nifty also fell by 23.20 points at 4,529.05, after dipping to a low of 4,497.25 and touching a high of 4,572.65 points.
Bank stocks were particularly hit as investors thought a global slowdown in economic growth might have a direct impact on lending and financing business, said Ratnesh Gupta, a BSE broker in the national capital.
Marketmen said reports that J P Morgan Chase and Co, the second-largest US bank by market value, may post more credit losses also added to the decline in bank stocks.
ICICI Bank, the nation's second-largest lender by assets, fell by 3.77 percent at Rs 710.55. HDFC Bank, the third biggest by market value, also lost 3.69 per cent at Rs 1,217.20. State-run Bank of Baroda also took a hit of 4.61 per cent at Rs 271.30.
The banking sectoral index closed down by falling 165.87 points at 7,271.40, with 14 constituents of the 18 share index trading lower.
Capital goods index was the second worst performer with a fall of 133.35 points at 12,606.94. Brokers said a fall in industrial growth for July at 5.4 per cent affected the stocks in this counter. Of the total 17 segment stocks, 11 closed in the red on all-round selling.
Realty sector index, an interest-sensitive and linked with heavy machinery sectors, fell by 74.66 points at 5610.83.
Consumer durable index also fell by 32.28 points at 3,883.69, followed by PSU index which closed lower by 26.33 points at 7184.00.
Metal index also lost 17.50 points at 12,643.23, Power index 14.17 points at 2729.84, auto index 9.63 points at 3990.07 and oil and gas index 3.29 points at 10,438.99.
Health-care index bucked the trend and rose by 44.66 points at 4279.90, Teck index by 15.23 points at 3,043.11 and FMCG index by 4.15 points at 2,226.30 points Information Technologies index rose by 41.98 points at 3813.96 as the segment major and Sensex-heaviest Infosys Technologies gained Rs 21.50 at Rs 1625.20 on reports that the second-biggest software services provider plans to reduce new hiring by about 30 per cent this year from a year earlier.
As the trading activity spilled over a wide-front, small-cap index rose by 9.35 points at 7,229.77 while mid-cap index fell by 6.16 points at 5,929.37.
BSE Bulk Deals to Watch - Aug 13 2008
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
13/8/2008 531223 ANJANI SYNTH NARENDRA VALLABHJI BAHUVA B 57059 50.19
13/8/2008 531223 ANJANI SYNTH NARENDRA VALLABHJI BAHUVA S 56960 49.16
13/8/2008 590059 BIHAR TUBES SAROJINI FINANCE AND INVESTMENT P LTD S 390000 165.01
13/8/2008 590059 BIHAR TUBES KINSFOLK INDUSTRIES P LTD S 40000 165.07
13/8/2008 531682 CAT TECHNOL PRABHUDAS LILLADHER PVT. LTD. B 180026 7.69
13/8/2008 531682 CAT TECHNOL S V ENTERPRISES B 664900 7.61
13/8/2008 531682 CAT TECHNOL PRABHUDAS LILLADHER PVT. LTD. S 180026 7.68
13/8/2008 531682 CAT TECHNOL S V ENTERPRISES S 664900 7.69
13/8/2008 531739 GENNEX LAB DIMENSIONS INVESTMENT AND SECURITIES LTD B 80000 56.97
13/8/2008 531739 GENNEX LAB P BALAJI B 200000 55.00
13/8/2008 531739 GENNEX LAB P BALAJI S 155888 56.92
13/8/2008 532990 GMR FERRO YUVAK SHARE TRADING PVT LTD B 217353 67.97
13/8/2008 532990 GMR FERRO YUVAK SHARE TRADING PVT LTD S 226797 68.11
13/8/2008 532081 K SERA SERA S V ENTERPRISES B 373592 23.21
13/8/2008 532081 K SERA SERA S V ENTERPRISES S 373592 23.32
13/8/2008 532906 MAN ALUMIN THE BANK OF NEWYORK GDR S 35701 29.60
13/8/2008 590060 MK EXIM NARENDRA VALLABHJI BAHUVA B 17500 35.50
13/8/2008 533010 OCTAV INVES MANSUKH STOCK BROKERS LTD B 55100 85.25
13/8/2008 533010 OCTAV INVES MANSUKH SECURITIES AND FINANCE LTD B 33173 84.24
13/8/2008 533010 OCTAV INVES STANDARD SECURITIES AND INVST INTER LTD B 24532 84.93
13/8/2008 533010 OCTAV INVES HITESH SHASHIKANT JHAVERI B 39156 84.60
13/8/2008 533010 OCTAV INVES SAM GLOBAL SECURITIES LTD B 30844 89.34
13/8/2008 533010 OCTAV INVES B K SHAH CO B 16351 88.59
13/8/2008 533010 OCTAV INVES MANISHA HASMUKH MEHTA B 19006 78.88
13/8/2008 533010 OCTAV INVES MEENAL NITISH THAKUR B 18725 86.84
13/8/2008 533010 OCTAV INVES YUVAK SHARE TRADING PVT LTD B 19672 86.71
13/8/2008 533010 OCTAV INVES MANSUKH STOCK BROKERS LTD S 55100 84.72
13/8/2008 533010 OCTAV INVES MANSUKH SECURITIES AND FINANCE LTD S 33173 82.75
13/8/2008 533010 OCTAV INVES STANDARD SECURITIES AND INVST INTER LTD S 24532 84.27
13/8/2008 533010 OCTAV INVES HITESH SHASHIKANT JHAVERI S 44156 86.59
13/8/2008 533010 OCTAV INVES SAM GLOBAL SECURITIES LTD S 30844 89.57
13/8/2008 533010 OCTAV INVES B K SHAH CO S 16351 86.31
13/8/2008 533010 OCTAV INVES MANISHA HASMUKH MEHTA S 19006 80.70
13/8/2008 533010 OCTAV INVES MEENAL NITISH THAKUR S 18725 88.01
13/8/2008 533010 OCTAV INVES YUVAK SHARE TRADING PVT LTD S 19711 86.67
13/8/2008 513519 PITTI LAMINA SHARAD K SHAH B 60819 41.36
13/8/2008 506618 PUNJAB CHEM AJAAYU TRADING AND CONSULTANCY P. LTD. B 31000 283.10
13/8/2008 506618 PUNJAB CHEM RUPAK KUMUDBHAI SHAH S 40015 290.00
13/8/2008 530047 RAI SH REK M OM NARAYAN BIHANI B 25000 62.44
13/8/2008 532886 SEL MANUF HARDIK M MITHANI B 141036 398.32
13/8/2008 532886 SEL MANUF B K SHAH CO B 179587 392.28
13/8/2008 532886 SEL MANUF HARDIK M MITHANI S 141036 396.52
13/8/2008 532886 SEL MANUF B K SHAH CO S 179588 392.85
13/8/2008 500295 SESA GOA LTD GOLDMAN SACHS INVESTMENTS MAURITIUS I LTD S 374000 175.42
13/8/2008 505075 SETCO AUTO SETCO ENGINEERING PVT LTD B 150000 179.00
13/8/2008 505075 SETCO AUTO SNEHA HARISH SHETH S 150000 179.00
13/8/2008 526049 SHRILAKSHMI PRARTHANA TARUNKUMAR BRAHMBHATT S 77522 108.61
13/8/2008 513530 STELCO STRIP INDEX SECURITIES AND RESEARCH PV B 49750 20.15
13/8/2008 532338 VALUEMART IN S V ENTERPRISES B 1132636 4.55
13/8/2008 532338 VALUEMART IN YUVAK SHARE TRADING PVT LTD B 251091 4.01
13/8/2008 532338 VALUEMART IN PARSHURAM SHIVAJI CHAUDHARI S 263534 4.07
13/8/2008 532338 VALUEMART IN RAJENDRA KESRIMAL SURANA S 200000 4.01
13/8/2008 532338 VALUEMART IN BENEDICT PARAMANAND S 200000 4.01
13/8/2008 532338 VALUEMART IN S V ENTERPRISES S 1192289 4.38
13/8/2008 532338 VALUEMART IN YUVAK SHARE TRADING PVT LTD S 162500 4.01
13/8/2008 533011 VISHAL INFO MANSUKH SECURITIES AND FINANCE LTD B 59291 226.05
13/8/2008 533011 VISHAL INFO R M SHARES TRADING PVT LTD B 260113 228.25
13/8/2008 533011 VISHAL INFO SAM GLOBAL SECURITIES LTD B 112015 225.68
13/8/2008 533011 VISHAL INFO KAUSHIK SHAH SHARES SEC PL B 118049 227.80
13/8/2008 533011 VISHAL INFO H.J.SECURITIES P.LTD. B 203959 222.30
13/8/2008 533011 VISHAL INFO YUVAK SHARE TRADING PVT LTD B 139494 242.90
13/8/2008 533011 VISHAL INFO MANSUKH SECURITIES AND FINANCE LTD S 59291 226.02
13/8/2008 533011 VISHAL INFO R M SHARES TRADING PVT LTD S 260113 228.25
13/8/2008 533011 VISHAL INFO SAM GLOBAL SECURITIES LTD S 112015 225.66
13/8/2008 533011 VISHAL INFO KAUSHIK SHAH SHARES SEC PL S 118349 227.84
13/8/2008 533011 VISHAL INFO H.J.SECURITIES P.LTD. S 203959 222.36
13/8/2008 533011 VISHAL INFO YUVAK SHARE TRADING PVT LTD S 130189 242.70
13/8/2008 532794 ZEE NEWS BLACKSTONE ASIA ADVISORS LLC AC THE INDIA FUND INC S 2020000 40.17
NSE Bulk Deals to Watch - Aug 13 2008
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
13-AUG-2008,CERA,Cera Sanitaryware Limited,DEEPLOK BUILDERS PRIVATE LIMITED,BUY,35000,129.05,-
13-AUG-2008,GMRFER,GMR Ferro Alloys & Indust,SETU SECURITIES LTD,BUY,92136,67.99,-
13-AUG-2008,GMRFER,GMR Ferro Alloys & Indust,WALLFORT FINANCIAL SERVICES LTD,BUY,100000,68.00,-
13-AUG-2008,GMRFER,GMR Ferro Alloys & Indust,YUVAK SHARE TRADING PVT LTD,BUY,167373,67.64,-
13-AUG-2008,NAGARFERT,Nagarjuna Fert & Chem,CLEAN FINANCE & INVESTMENT LTD,BUY,3756226,43.88,-
13-AUG-2008,OCTAV,Octav Investments Limited,AMBIT SECURITIES BROKING PVT. LTD.,BUY,44330,87.37,-
13-AUG-2008,OCTAV,Octav Investments Limited,ANKITA VISHAL SHAH,BUY,18055,86.58,-
13-AUG-2008,OCTAV,Octav Investments Limited,B K SHAH CO KETAN BHAILAL SHAH,BUY,41688,87.24,-
13-AUG-2008,OCTAV,Octav Investments Limited,CPR CAPITAL SERVICES LTD.,BUY,105281,85.83,-
13-AUG-2008,OCTAV,Octav Investments Limited,DB (INTERNATIONAL) STOCK BROKERS LIMITED,BUY,17897,82.02,-
13-AUG-2008,OCTAV,Octav Investments Limited,FIN BRAINS SECURITIES (INDIA) LTD.,BUY,22400,87.93,-
13-AUG-2008,OCTAV,Octav Investments Limited,KAUSHIK SHAH SHARES & SECURITIES PVT LTD,BUY,55781,89.38,-
13-AUG-2008,OCTAV,Octav Investments Limited,LPC SECURITIES LTD,BUY,19057,83.39,-
13-AUG-2008,OCTAV,Octav Investments Limited,MANIPUT INVESTMENTS PVT LTD,BUY,29671,89.91,-
13-AUG-2008,OCTAV,Octav Investments Limited,MANSUKH SECURITIES & FINANCE LTD,BUY,94108,83.96,-
13-AUG-2008,OCTAV,Octav Investments Limited,MBL & COMPANY LTD.,BUY,25140,82.97,-
13-AUG-2008,OCTAV,Octav Investments Limited,NIKUNJ K SHAH,BUY,49253,83.42,-
13-AUG-2008,OCTAV,Octav Investments Limited,NITU SHARMA,BUY,15200,88.13,-
13-AUG-2008,OCTAV,Octav Investments Limited,OPG SECURITIES PVT. LTD.,BUY,27359,86.94,-
13-AUG-2008,OCTAV,Octav Investments Limited,PRAGATI PAPER MILLS LTD,BUY,32399,86.16,-
13-AUG-2008,OCTAV,Octav Investments Limited,PRASHANT JAYANTILAL PATEL,BUY,17420,90.44,-
13-AUG-2008,OCTAV,Octav Investments Limited,R.M. SHARE TRADING PVT LTD,BUY,28505,80.01,-
13-AUG-2008,OCTAV,Octav Investments Limited,SMC GLOBAL SECURITIES LTD.,BUY,19195,89.98,-
13-AUG-2008,OCTAV,Octav Investments Limited,SPS SHARE BROKERS PVT. LTD.,BUY,49641,88.38,-
13-AUG-2008,OCTAV,Octav Investments Limited,STANDARD SECURITIES & INVESTMENT INTERMEDIATES LIMITED,BUY,22459,83.10,-
13-AUG-2008,OCTAV,Octav Investments Limited,TRANSGLOBAL SECURITIES LTD.,BUY,135005,87.40,-
13-AUG-2008,OCTAV,Octav Investments Limited,YUVAK SHARE TRADING PVT LTD,BUY,108120,86.88,-
13-AUG-2008,OILCOUNTUB,Oil Country Tubular Ltd,NAVMEE SECURITIES PRIVATE LIMITED,BUY,320000,63.99,-
13-AUG-2008,SELMCL,SEL Manufacturing Company,B K SHAH CO KETAN BHAILAL SHAH,BUY,211626,393.11,-
13-AUG-2008,SELMCL,SEL Manufacturing Company,DKG SECURITIES PVT. LTD.,BUY,195633,401.03,-
13-AUG-2008,SELMCL,SEL Manufacturing Company,HARDIK M MITHANI,BUY,218236,395.54,-
13-AUG-2008,SELMCL,SEL Manufacturing Company,MARWADI SHARES AND FINANCE LIMITED,BUY,116393,391.80,-
13-AUG-2008,SELMCL,SEL Manufacturing Company,MAVI INVESTMENT FUND LTD.,BUY,300000,379.91,-
13-AUG-2008,SUBEX,Subex Limited,ICICI PRUDENTIAL ASSET MANAGEMENT COMPANY LIMITED,BUY,283000,91.99,-
13-AUG-2008,SUBEX,Subex Limited,MBL & COMPANY LTD.,BUY,208286,93.42,-
13-AUG-2008,SUBEX,Subex Limited,TRANSGLOBAL SECURITIES LTD.,BUY,203117,92.63,-
13-AUG-2008,VITLINFO,Vishal Information Techno,ADROIT FINANCIAL SERVICES PVT LTD,BUY,59070,227.67,-
13-AUG-2008,VITLINFO,Vishal Information Techno,ARUNKUMAR K L,BUY,99492,230.39,-
13-AUG-2008,VITLINFO,Vishal Information Techno,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,BUY,119896,228.19,-
13-AUG-2008,VITLINFO,Vishal Information Techno,BHAVIN SURESH CHHEDA,BUY,112973,228.96,-
13-AUG-2008,VITLINFO,Vishal Information Techno,CHOKHANI SECURITIES LTD,BUY,158353,225.93,-
13-AUG-2008,VITLINFO,Vishal Information Techno,CPR CAPITAL SERVICES LTD.,BUY,172692,227.60,-
13-AUG-2008,VITLINFO,Vishal Information Techno,DINESH MUNJAL,BUY,155670,232.05,-
13-AUG-2008,VITLINFO,Vishal Information Techno,FIN BRAINS SECURITIES (INDIA) LTD.,BUY,72228,228.08,-
13-AUG-2008,VITLINFO,Vishal Information Techno,G RAMAKRISHNA,BUY,157282,229.39,-
13-AUG-2008,VITLINFO,Vishal Information Techno,HARBUX SINGH SIDHU,BUY,278920,232.14,-
13-AUG-2008,VITLINFO,Vishal Information Techno,HARESH VITTHALDAS RAMI,BUY,50753,227.04,-
13-AUG-2008,VITLINFO,Vishal Information Techno,KAUSHIK SHAH SHARES & SECURITIES PVT LTD,BUY,201641,233.18,-
13-AUG-2008,VITLINFO,Vishal Information Techno,MANIPUT INVESTMENTS PVT LTD,BUY,138512,226.88,-
13-AUG-2008,VITLINFO,Vishal Information Techno,MANSUKH SECURITIES & FINANCE LTD,BUY,115288,227.04,-
13-AUG-2008,VITLINFO,Vishal Information Techno,MEHTA VIRENDRA KUMAR,BUY,70269,226.26,-
13-AUG-2008,VITLINFO,Vishal Information Techno,OPG SECURITIES PVT. LTD.,BUY,68194,227.93,-
13-AUG-2008,VITLINFO,Vishal Information Techno,PRAGATI PAPER MILLS LTD,BUY,56961,228.59,-
13-AUG-2008,VITLINFO,Vishal Information Techno,PRASHANT JAYANTILAL PATEL,BUY,193953,226.80,-
13-AUG-2008,VITLINFO,Vishal Information Techno,R.M. SHARE TRADING PVT LTD,BUY,304702,227.56,-
13-AUG-2008,VITLINFO,Vishal Information Techno,RAHUL DOSHI,BUY,106076,244.23,-
13-AUG-2008,VITLINFO,Vishal Information Techno,SMC GLOBAL SECURITIES LTD.,BUY,87213,225.24,-
13-AUG-2008,VITLINFO,Vishal Information Techno,SUMITA SAXENA,BUY,91990,228.34,-
13-AUG-2008,VITLINFO,Vishal Information Techno,TRANSGLOBAL SECURITIES LTD.,BUY,177006,226.79,-
13-AUG-2008,VITLINFO,Vishal Information Techno,VAIBHAV DOSHI,BUY,66011,232.42,-
13-AUG-2008,VITLINFO,Vishal Information Techno,YUVAK SHARE TRADING PVT LTD,BUY,183084,234.88,-
13-AUG-2008,CERA,Cera Sanitaryware Limited,DEUTSCHE INTERNATIONAL TRUST CORP.(MAURITIUS)LTD A/C MINIVET,SELL,34820,129.05,-
13-AUG-2008,EVERONN,Everonn Systems India Lim,VIMLA SURESJH JAJOO,SELL,79783,528.90,-
13-AUG-2008,GMRFER,GMR Ferro Alloys & Indust,BRP STOCK BROKING SERVICES LIMITED,SELL,91665,67.98,-
13-AUG-2008,GMRFER,GMR Ferro Alloys & Indust,SETU SECURITIES LTD,SELL,92136,67.88,-
13-AUG-2008,GMRFER,GMR Ferro Alloys & Indust,YUVAK SHARE TRADING PVT LTD,SELL,167827,67.51,-
13-AUG-2008,MANALU,Man Aluminium Limited,THE BANK OF NEWYORK - GDR,SELL,61717,29.69,-
13-AUG-2008,MLL,Mercator Lines Limited,DEUTSCHE SECURITIES MAURITIUS LIMITED,SELL,1250000,88.44,-
13-AUG-2008,NAGARFERT,Nagarjuna Fert & Chem,CLEAN FINANCE & INVESTMENT LTD,SELL,3756226,43.89,-
13-AUG-2008,NOIDATOLL,Noida Toll Bridge Company,CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL CODE,SELL,1150000,46.61,-
13-AUG-2008,OCTAV,Octav Investments Limited,AMBIT SECURITIES BROKING PVT. LTD.,SELL,44330,87.61,-
13-AUG-2008,OCTAV,Octav Investments Limited,ANKITA VISHAL SHAH,SELL,10555,85.81,-
13-AUG-2008,OCTAV,Octav Investments Limited,B K SHAH CO KETAN BHAILAL SHAH,SELL,42674,87.71,-
13-AUG-2008,OCTAV,Octav Investments Limited,CPR CAPITAL SERVICES LTD.,SELL,105281,85.95,-
13-AUG-2008,OCTAV,Octav Investments Limited,DB (INTERNATIONAL) STOCK BROKERS LIMITED,SELL,16897,81.95,-
13-AUG-2008,OCTAV,Octav Investments Limited,FIN BRAINS SECURITIES (INDIA) LTD.,SELL,22400,87.88,-
13-AUG-2008,OCTAV,Octav Investments Limited,KAUSHIK SHAH SHARES & SECURITIES PVT LTD,SELL,56232,89.40,-
13-AUG-2008,OCTAV,Octav Investments Limited,LPC SECURITIES LTD,SELL,19057,83.43,-
13-AUG-2008,OCTAV,Octav Investments Limited,MANIPUT INVESTMENTS PVT LTD,SELL,29671,89.89,-
13-AUG-2008,OCTAV,Octav Investments Limited,MANSUKH SECURITIES & FINANCE LTD,SELL,87951,84.83,-
13-AUG-2008,OCTAV,Octav Investments Limited,MBL & COMPANY LTD.,SELL,25140,83.41,-
13-AUG-2008,OCTAV,Octav Investments Limited,NIKUNJ K SHAH,SELL,49253,83.64,-
13-AUG-2008,OCTAV,Octav Investments Limited,NITU SHARMA,SELL,14200,86.96,-
13-AUG-2008,OCTAV,Octav Investments Limited,OPG SECURITIES PVT. LTD.,SELL,27359,87.21,-
13-AUG-2008,OCTAV,Octav Investments Limited,PRAGATI PAPER MILLS LTD,SELL,32399,86.84,-
13-AUG-2008,OCTAV,Octav Investments Limited,PRASHANT JAYANTILAL PATEL,SELL,17420,90.84,-
13-AUG-2008,OCTAV,Octav Investments Limited,R.M. SHARE TRADING PVT LTD,SELL,28505,80.61,-
13-AUG-2008,OCTAV,Octav Investments Limited,RELIANCE MUTUAL FUND,SELL,40000,81.71,-
13-AUG-2008,OCTAV,Octav Investments Limited,SMC GLOBAL SECURITIES LTD.,SELL,19195,89.49,-
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13-AUG-2008,OCTAV,Octav Investments Limited,STANDARD SECURITIES & INVESTMENT INTERMEDIATES LIMITED,SELL,22459,84.04,-
13-AUG-2008,OCTAV,Octav Investments Limited,TRANSGLOBAL SECURITIES LTD.,SELL,135105,87.65,-
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13-AUG-2008,OILCOUNTUB,Oil Country Tubular Ltd,MANISH KUMAR GILADA,SELL,330724,64.00,-
13-AUG-2008,SELMCL,SEL Manufacturing Company,B K SHAH CO KETAN BHAILAL SHAH,SELL,211421,393.27,-
13-AUG-2008,SELMCL,SEL Manufacturing Company,DKG SECURITIES PVT. LTD.,SELL,250633,388.29,-
13-AUG-2008,SELMCL,SEL Manufacturing Company,HARDIK M MITHANI,SELL,218236,396.47,-
13-AUG-2008,SELMCL,SEL Manufacturing Company,HETAL RAJESH PATEL,SELL,86877,380.02,-
13-AUG-2008,SELMCL,SEL Manufacturing Company,MARWADI SHARES AND FINANCE LIMITED,SELL,116393,391.74,-
13-AUG-2008,SELMCL,SEL Manufacturing Company,TAIB BANK A/C TSML,SELL,219864,395.47,-
13-AUG-2008,SUBEX,Subex Limited,MBL & COMPANY LTD.,SELL,208286,93.48,-
13-AUG-2008,SUBEX,Subex Limited,NOMURA INDIA INVESTMENT FUND MOTHER FUND,SELL,200000,95.84,-
13-AUG-2008,SUBEX,Subex Limited,TRANSGLOBAL SECURITIES LTD.,SELL,203117,92.52,-
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13-AUG-2008,VITLINFO,Vishal Information Techno,ARUNKUMAR K L,SELL,99492,231.66,-
13-AUG-2008,VITLINFO,Vishal Information Techno,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,SELL,119896,228.39,-
13-AUG-2008,VITLINFO,Vishal Information Techno,BHAVIN SURESH CHHEDA,SELL,112973,228.72,-
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13-AUG-2008,VITLINFO,Vishal Information Techno,CPR CAPITAL SERVICES LTD.,SELL,172692,227.69,-
13-AUG-2008,VITLINFO,Vishal Information Techno,DINESH MUNJAL,SELL,152545,231.17,-
13-AUG-2008,VITLINFO,Vishal Information Techno,FIN BRAINS SECURITIES (INDIA) LTD.,SELL,72228,228.26,-
13-AUG-2008,VITLINFO,Vishal Information Techno,G RAMAKRISHNA,SELL,157282,228.24,-
13-AUG-2008,VITLINFO,Vishal Information Techno,HARBUX SINGH SIDHU,SELL,273920,231.92,-
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13-AUG-2008,VITLINFO,Vishal Information Techno,MANIPUT INVESTMENTS PVT LTD,SELL,138512,227.10,-
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13-AUG-2008,VITLINFO,Vishal Information Techno,MEHTA VIRENDRA KUMAR,SELL,65269,225.85,-
13-AUG-2008,VITLINFO,Vishal Information Techno,OPG SECURITIES PVT. LTD.,SELL,68194,228.08,-
13-AUG-2008,VITLINFO,Vishal Information Techno,PRAGATI PAPER MILLS LTD,SELL,56961,228.71,-
13-AUG-2008,VITLINFO,Vishal Information Techno,PRASHANT JAYANTILAL PATEL,SELL,193953,227.01,-
13-AUG-2008,VITLINFO,Vishal Information Techno,R.M. SHARE TRADING PVT LTD,SELL,304702,227.86,-
13-AUG-2008,VITLINFO,Vishal Information Techno,RAHUL DOSHI,SELL,96111,244.68,-
13-AUG-2008,VITLINFO,Vishal Information Techno,SMC GLOBAL SECURITIES LTD.,SELL,87213,225.57,-
13-AUG-2008,VITLINFO,Vishal Information Techno,SUMITA SAXENA,SELL,91990,228.39,-
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13-AUG-2008,VITLINFO,Vishal Information Techno,VAIBHAV DOSHI,SELL,66011,233.91,-
13-AUG-2008,VITLINFO,Vishal Information Techno,YUVAK SHARE TRADING PVT LTD,SELL,175930,235.21,-
13-AUG-2008,ZEENEWS,Zee News Limited,BLACKSTONE Asia Advisors A/c THE INDIA FUND INC,SELL,2034000,40.19,-
Post Session Commentary - Aug 13 2008
Domestic market witnessed a sharp fall to close into the negative territory on the back of intense profit booking that was seen in key stocks ahead of SEBI meeting scheduled today to review the regulatory framework governing P-notes. Market opened on weak note tracking unfavorable cues from global markets but there after recovered from the fall during the mid session due to some bouts of buying. But it was not able to sustain the momentum and again slide into red to trade lower till the end of session. Investors’ sentiments also battered due to weak European and Asian markets. NSE Nifty ended below 4,600 mark and BSE Sensex below 15,100 level. From the sectoral front, interest sensitive sectors like Bank and Realty along with Capital goods and Consumer Durables were under selling pressure while IT, Pharma and FMCG stocks gained the ground. The market breadth was negative as 1238 stocks closed in green while 1420 stocks closed in red and 91 stocks remained unchanged.
NSE, on Tuesday received an in principle approval from the Securities and Exchange Board of India to initiate an exchange to trade foreign currency derivatives. NSE is planning to start a separate segment on its existing stock and derivatives bourse to trade in forex derivatives.
The BSE Sensex closed lower by 119.01 points at 15,093.12 and NSE Nifty ended down by 23.20 points at 4,529.05. The BSE Mid Caps closed with losses of 6.16 points at 5,929.37 while Small Caps closed with gains of 9.35 points at 7,229.77. The BSE Sensex touched intraday high of 15,272.56 and intraday low of 15,013.06.
Lossers from the BSE are ICICI Bank Ltd (3.77%), HDFC Bank Ltd (3.69%), DLF Ltd (3.29%), Maruti Suzuki (5.27%), HDFC (2.13%), Hindalco (2.00%), L&T Ltd (1.88%), Tata Power (1.76%) and Reliance Com Ltd (1.71%).
The BSE Bank index closed lower by 165.87 points at 7,271.40. Lossers are Bank of Baroda (4.61%), ICICI Bank Ltd (3.77%), HDFC Bank Ltd (3.69%), IDBI Bank Ltd (3.24%), Bank of India (2.80%) and Karnataka Bank (2.21%).
The BSE Capital Goods index dropped by 133.35 points to close at 12,606.94. Lossers are Siemens Ltd (2.43%), Punj Lloyd (2.33%), L&T Ltd (1.88%), Usha Martin (1.68%), Gammon India (1.33%) and Elecon Eng C (1.10%).
The BSE Reality index ended lower by 74.66 points at 5,610.83. Major lossers are Mahindra Life (4.61%), Housing Development (4.05%), Anant Raj (3.17%), Pheonix Mill (2.95%), Omaxe Ltd (2.01%) and Penland Ltd (21.86%).
The BSE Consumer Durables index ended down by 32.28 points at 3,883.69. As Videocon Ind (2.18%),Gitanjali GE (0.93%), Titan Ind (0.42%) and Blue Star L (0.09%) closed in negative territory.
The BSE Pharma index ended up by 44.66 points at 4,279.90. As Sunpha Dev (5.50%), Glenmark Pharma (4.04%), Divi’s Lab (4.01%), Cipla Ltd (3.15%), Bil care Ltd (2.96%) and Opto Circuit (2.07%) closed in positive territory.
The BSE IT index gained 41.98 points to close at 3,813.96. Major gainers are Financ Tech (3.32%), NIIT Ltd (2.86%), rolta India (2.59%), Moser Bayer (1.84%), Infosys Tech (1.34%) and TCS Ltd (1.20%).
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%).
Sensex sheds 119 points
Weakeness in global indices made the investors jittery and triggered a sell-off in the domestic market. The market opened on a bearish note at 15,030, down 182 points from the yesterday’s close. By mid-morning trades, the Sensex managed to recover some losses and touched intra-day high of 15,273, up 61 points. However, the index succumbed to selling in banking, reality and capital goods stocks. Some buying at lower levels towards the close saw the Sensex recover a little and end the session with losses of 119 points at 15,093, while the Nifty closed at 4,529, down 23 points.
The market breadth was weak. Of the 2,749 stocks traded on the BSE, 1,420 (51%) stocks declined, 1,238 (45%) stocks advanced and 91 (3%) stocks ended unchanged.
Most of the sectoral indices posted losses for the day. The BSE Bankex was the biggest loser and slipped 2.23% at 7,271 followed by the BSE Realty Index (down 1.31% at 5,610.83) and the BSE CG Index (down 1.05% at 12,607). However, the BSE IT gained 1.11% at 3,813.96 followed by the BSE HC Index (up 1.05% at 4,279.90). The BSE Teck and BSE FMCG Index ended with steady gains.
Among the laggards, ICICI Bank was down 3.77% at Rs710.55, HDFC Bank declined 3.69% at Rs1217.20, DLF shed 3.29% at Rs548.60, Reliance Infrastructure dropped 2.45% at Rs1,067.85, HDFC lost 2.13% at Rs2,414.10 and Hindalco fell 2% at Rs139.55. However, select heavyweights attracted decent buying support. Sterlite Industries India added 2.67% at Rs613, Infosys rose 1.34% at Rs1,625.20 and Tata Consultancy Services gained 1.20% at Rs828.05.
Over 2.44 crore Reliance Natural Resouces shares changed hands on the BSE followed by Chambal Fertilisers and Chemicals (1.13 crore shares), Nagarjuna Fertilisers and Chemicals(1.09 crore shares) and Ispat Industries(1crore shares)
Market extends fall on weak global cues
The market ended lower for the second day in a row tracking weak global markets. The key benchmark indices were highly volatile throughout the session ahead of the outcome of the Securities and Exchange Board of India’s board meet to review the rules regarding the issuance of participatory notes.
Banking and realty shares witnessed selling pressure, while buying was seen in pharmaceuticals and technology stocks. Index pivotal ICICI Bank was the biggest loser in the Sensex pack.
In Europe, key indices in UK, France and Germany were down 0.65% to 0.79%. Asian markets were weak. Key benchmark indices in Hong Kong, Japan, South Korea, Singapore, China and Taiwan were down by between 0.02% to 2.11%.
The BSE 30-share Sensex fell 119.01 points or 0.78% to 15,093.12. Sensex rose 60.43 points at the day's high of 15,272.56 hit in early afternoon deals. At the day’s low of 15,013.06, the Sensex lost 199.07 at the onset of trading session.
The S&P CNX Nifty fell 23.2 points or 0.51% lower at 4529.05. Nifty August 2008 futures were at 4562, a premium of 32.95 points as compared to spot closing.
As per provisional data released by the stock exchanges after trading hours, foreign funds today, 13 August 2008, sold shares worth a net Rs 915.58 crore. Domestic funds bought shares worth a net Rs 226.12 crore.
The BSE Mid-Cap index fell 0.10% at 5,929.37 and the BSE Small-Cap index rose 0.13% at 7,229.77.
The market breadth, which was strong earlier, turned negative by mid-afternoon trade. On BSE, 1238 shares advanced as compared to 1420 that declined. 91 shares remained unchanged.
BSE clocked a turnover of Rs 5052 crore as against Rs 5,874.74 crore on Tuesday, 12 August 2008. NSE’s futures & options turnover amounted to Rs 43947.06 crore as compared to Rs 52461.81 crore Tuesday, 12 August 2008.
Profit taking after a recent solid surge pulled the barometer index down 291.79 points or 1.88% to 15,212.13 on Tuesday, 12 August 2008. The barometer index is down 410.80 points or 2.64% from a recent high of 15503.92 hit on 11 August 2008.
Sensex is down 5193.87 points or 25.60% in the calendar year 2008 so far from its close of 20,286.99 on 31 December 2007. It is 6113.65 points or 28.82% away from its all-time high of 21,206.77 struck on 10 January 2008.
Prominent Sensex losers in today's trade were, Reliance Infrastructure (down 2.45% at Rs 1067.85), HDFC (down 2.13% at Rs 2414.10), Larsen & Toubro (down 1.88% at Rs 2795.85), and Tata Power (down 1.76% at Rs 1018.95).
India’s largest private sector bank by market capitalisation ICICI Bank slipped 3.77% at Rs 710.55.
Other banking shares that declined were, Bank of Baroda (down 4.61% at Rs 271.30), HDFC Bank (down 3.69% at Rs 1217.20), and State Bank of India (down 0.15% at Rs 1555.25). The BSE Bankex underperformed the Sensex, falling 2.23% to 7,271.40.
Realty shares slipped. DLF (down 3.29% at Rs 548.60), Mahindra Lifespace Developers (down 4.61% at Rs 467.50), and Housing Development Infrastructure (down 4.05% at Rs 466.55), declined. The BSE Realty index underperformed the Sensex, falling 1.31% to 5,610.83.
Pharmaceutical shares rose. Sun Pharma Advanced Research Company (up 5.50% at Rs 89.20), Glenmark Pharmaceuticals (up 4.04% at Rs 635.40), Divi's Laboratories (up 4.01% at Rs 1593.65), and Cipla (up 3.15% at Rs 232.15). However, India's largest drug maker by sales Ranbaxy Laboratories fell 0.26% at Rs 499.05. The BSE Healthcare index outperformed the Sensex, rising 1.05% to 4,279.90.
Drug maker Dr Reddy's Pharmaceuticals rose 0.17% at Rs 600.25. As per reports, the company and Teva Pharmaceuticals have settled their patent dispute over carvedilol, allowing Dr Reddy's to sell the drug in the US.
IT shares moved up after the rupee weakened against the dollar. India's second largest software exporter by sales Infosys Technologies rose 1.34% at Rs 1625.20. TCS (up 1.20% at Rs 828.05), Satyam Computer (up 0.87% at Rs 406.25), and Wipro (up 0.05% at Rs 433.50), rose. The BSE IT index outperformed the Sensex, rising 1.11% to 3,813.96.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries ended flat at Rs 2340.90. As per reports, the Bombay High Court on Tuesday, 12 August 2008, once again adjourned the hearing of a dispute between the company and Reliance Natural Resources (RNRL) till 21 Aug 2008. The dispute is about, which firm has the rights over gas supplies and at what price. Reliance Natural Resources rose 1.66% at Rs 103.90.
Worlds sixth largest steel maker Tata Steel rose 0.41% at Rs 610.45 after the company said its Singapore unit signed a joint venture agreement with Vietnam Steel Corp and Vietnam Cement Industries to build a steel complex in the Southeast Asian country.
India’s largest aluminium manufacturer in terms of sales Hindalco Industries fell 2% to Rs 139.55. The company said its board will meet on 14 August 2008 to determine the price and other terms and conditions of the proposed rights offering. As per reports, Hindalco will set rights issue price at Rs 96 per share.
Majority of the 39 stocks that will be included in the derivative segment of National Stock Exchange from 21 August 2008 spurted on hopes that it will boost liquidity. Noida Toll Bridge Company (up 15.90% at Rs 49.20), Core Projects & Technologies (up 10.93% at Rs 254.20), Dish TV India (up 10.26% at Rs 39.75), UCO Bank (up 10.12% at Rs 40.80), and K S Oils (up 10% at Rs 65.30), were the prominent gainers among the 39 scrips that will be included for futures and options trading on NSE from 21 August 2008.
Infrastructure developer BSEL Infrastructure Realty surged 5% to Rs 38.95 after the company said its board will meet on 20 August 2008 to consider the funding of $100 million for ongoing and future projects of the company.
Cable TV network distributor Wire & Wireless India gained 2.29% to Rs 26.75 after the company said its board will meet on 20 August 2008 to consider issue of equity shares on a rights basis.
Real estate firm Puravankara Projects rose 1.03% at Rs 200.70 after the company said it will set up a unit for low-cost housing and invest Rs 8000 crore over five years to develop 60 million square feet of land.
Auto parts maker JBM Auto rose 4.08% to Rs 35.70 after the company said it will invest Rs 245 crore in a plant in Pune to supply skin panels for the joint venture between Tata Motors and Fiat.
Reliance Natural Resources clocked a highest turnover of Rs 252.72 crore on BSE. Reliance Capital (Rs 237.79 crore), Reliance Industries (Rs 214.15 crore), Vishal Information Technologies (Rs 213.18 crore), and ICICI Bank (Rs 136.86 crore), were the other turnover toppers on BSE in that order.
Reliance Natural Resources registered a highest volume of 2.44 crore shares on BSE. Chambal Fertilisers & Chemicals (1.13 crore shares), Nagarjuna Fertilisers & Chemicals (1.09 crore shares), Ispat Industries (1 crore shares), and Vishal Information Technologies (93.19 lakh shares), were the other volume toppers on BSE in that order.
US stocks fell on Tuesday, 12 August 2008, as bank shares tumbled on fresh worries about the economy and further losses stemming from the mortgage crisis. The Dow Jones industrial average fell 139.88 points, or 1.19%, to 11,642.47, while the Standard & Poor's 500 Index slid 15.73 points, or 1.21%, to 1,289.59. The Nasdaq Composite Index dropped 9.34 points, or 0.38%, to 2,430.61.
Oil extended its sharp decline witnessed over the past few days. US crude oil for September delivery fell $1.44 to settle at $113.01 a barrel on Tuesday, 12 August 2008, on the New York Mercantile Exchange on concerns about a slowing economy and a drop in demand.
India's industrial output rose 5.4% in June 2008 from a year earlier, above the previous month's upwardly revised 4.1%, data released by the government on Tuesday, 12 August 2008, showed. The growth was much lower than double-digit growth seen in 2006 and early 2007.
The board of market regulator Securities & Exchange Board of India will review the regulatory framework governing participatory notes (PNs), at its meeting today, 13 August 2008. As per reports, Sebi may extend the period for unwinding participatory notes, or P-notes, on underlying derivatives from 18 months to 24 months. P-notes are issued by foreign institutional investors registered in India to unregistered overseas investors.
The market regulator put curbs on PNs last year to help the government keep track of foreign flows into the country. Sebi had restricted issuance of P-notes in the spot segment to 40% of assets under custody and reports sugest it might raise the cap to 45% from 40%.
Market may slip further
The market may extend its weak trend after the Sensex reported losses of over 300 points in the previous session. The sharp fall in Asian markets in current trades and weak US indices may also weigh on the investor’s sentiment. Among the indices, the Nifty could test 4525 and 4465 on lower side and has a resistance at 4575 and 4600. The Sensex has a likely support at 15100 and may face resistance at 15325.
US indices closed on a negative note on Tuesday. The Dow Jones lost 140 points at 11642 whereas the Nasdaq was down 9 points at 2431.
All the Indian ADRs closed in the red on US bourses. ICICI Bank and HDFC Bank tumbled 5-8% each, while Satyam. Dr Reddy's, Tata Motors, Wipro, VSNL, Rediff and MTNL lost over 0.50-4% each.
Crude oil prices slipped on Tuesday, US light crude oil for September delivery moved down by $1.44 at $113.01 a barrel. In the commodity space, the Comex gold for December delivery tumbled by $13.70 to settle at $814.60 an ounce.
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