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Monday, September 01, 2008
Post Session Commentary - Sep 1 2008
Domestic market showed smart recovery during last trading hours and ended the day with marginal losses after trimming its earlier losses. Indian market opened on weak note tracking negative global cues. Further market stayed in negative territory on significant selling pressure and made smart recovery on selective buying from the banking and oil and gas space. The market gained some ground during final trade to end marginally lower on short covering. NSE Nifty ended above 4,300 mark and BSE Sensex around 14,500 level. From the sectoral front, recovery was led by Oil & Gas, Bank, Reality and FMCG stocks. However, Metal, Consumer Durables, Capital Goods and IT stocks were out of favour as witnessed most of the selling from these baskets. Midcap and Smallcap stocks also witnessed recovery as ended marginally lower. The market breadth was positive as 1329 stocks closed in green while 1255 stocks closed in red and 96 stocks remained unchanged.
The BSE Sensex closed lower by 66.02 points at 14,498.51 and NSE Nifty ended down by 11.35 points at 4,348.65. The BSE Mid Caps and Small Caps ended with losses of 0.31 points and 0.25 points at 5,741.98 and 6,891.39. The BSE Sensex touched intraday high of 14,547.41 and intraday low of 14,281.10.
Lossers from the BSE are Ranbaxy Lab (3.61%), Tata Steel (2.67%), Maruti Suzuki (2.56%), Bharti Airtel (2.50%), Reliance Com Ltd (1.71%), Infosys Tech (1.44%), HUL (1.41%), Tata Power(1.14%) and NTPC Ltd (1.11%).
The BSE Metal index plunged 133.91 points to close at 12,214.41. Lossers are Tata Steel (2.67%), NALCO (2.41%), Sesa Goa Ltd (2.05%), JSW SL (1.64%), Gujarat Nre C (1.58%) and Steel Atuhority (1.44%).
The BSE Consumer Durables index dropped 40.17 points to close at 3,800.62. Major lossers are Blue Star L (2.45%), Gitanjali Ge (1.73%), Rajesh Export (0.21%), Videocon Ind 0.77%) and Titan Ind (0.07%).
The BSE Capital Goods index lost 22.84 points to close at 11,863.78. Lossers are Jyoti Struct (2.56%), Siemens Ltd (1.99%), Havells India (1.94%), BSKF India (1.67%), eleocn Eng C (1.45%) and Elecon Eng C (1.07%)
The BSE Oil & Gas index closed higher 29.12 points at 9,688.58. Major gainers are essar Oil Ltd (3.80%), Reliance Pet (0.86%), Gail India (0.82%), ONGC (0.64%), Aban Offshore (0.63%) and Relaince (0.18%).
The BSE Bank index closed up 11.66 points at 7,021.35. Major gainers are Kotak Bank (0.27%), Allahabad Bank (1.43%), Federal bank (1.19%), ICICI Bank Ltd (1.03%) and IDBI Bank Ltd (0.12%).
Strong comeback
Taking lead from weak global markets, the 30-stock Sensex of the BSE started the day with a pessimistic note—142 points lower at the opening bell. The index remained subdued during the major part of the day and trade more than 150 points lower, as investors booked profits for the Friday’s surge. Metal, consumer durables and technology stocks took the major beating. The index faltered by afternoon and slipped to the day's low of 14,281—283 points below the previous close. While the market fluctuated sharply thereafter, firm bullish sentiment and strong buying in heavyweights and PSU stocks in late trades helped the Sensex erase most of its losses. The Sensex finally ended the session 0.45% or 66 points lower at 14,499. The Nifty slipped by 11 points at 4,349.
The market breadth was positive, as 50% stocks (1,331 stocks) advanced and 47% stocks (1,250 stocks) declined. Around 3% stocks (96 stocks) ended unchanged.
Eight of the 13 sectoral indices ended in the red. The BSE Metal dropped 1.08% at 12,214 followed by the BSE CD (down 1.05% at 3,800.62) and the BSE Teck (down 0.89% at 3,046). However, the BSE PSU gained 0.31% at 6,768, the BSE Oil & Gas, the BSE FMCG, the BSE Bankex and the BSE Reality closed with marginal gains.
Heavyweights led the fall in the Sensex. Ranbaxy Laboratories slipped by 3.61% at Rs499.80, Tata Steel slumped by 2.67% at Rs584.30, Maruti Suzuki India shed 2.56% at Rs650.40 and Bharti Airtel lost 2.50% at Rs816.25. While Reliance Communications, Infosys, Hindustan Unilever, Tata Power and NTPC were down by over 1% each.
Among the gainers ITC jumped 1.62% at Rs191.65, HDFC Bank gained 1.48% at Rs1,296.10, BHEL soared 0.90% at Rs1721.90, SBI rose by 0.88% at Rs1416 and Satyam Computer Services was up 0.85% at Rs423.40, while ONGC and ACC ended with modest gains.
On turnover front, over 3.31 crore Resurgere Mines & Minerals India shares changed hands on the BSE followed by Reliance Natural Resources (1.17 crore shares), Nutek India (65.53 lakh shares), Chambal Fertilisers & Chemicals (53.22 lakh shares) and Noida Toll Bridge Company (44.57 lakh shares).
BSE Bulk Deals to Watch - Sep 1 2008
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
1/9/2008 532212 ARCHIES LTD MBL AND COMPANY LIMITED B 71482 125.56
1/9/2008 532212 ARCHIES LTD MANSUKH STOCK BROKERS LTD B 34303 126.48
1/9/2008 532212 ARCHIES LTD MBL AND COMPANY LIMITED S 71482 126.16
1/9/2008 532212 ARCHIES LTD MANSUKH STOCK BROKERS LTD S 34303 127.17
1/9/2008 513059 G.S. AUTO YUVAK SHARE TRADING PVT.LTD. B 39485 88.61
1/9/2008 513059 G.S. AUTO ABN INDIA EQUITY RESEARCH PRIVATE LIMITED S 21137 88.09
1/9/2008 513059 G.S. AUTO SANGEETA PAREEKH S 50000 87.98
1/9/2008 513059 G.S. AUTO COMET INVESTMENT PVT LTD S 34186 91.12
1/9/2008 532326 INTENS TECH CITIGROUP GLOBAL MARKETS MAURITIUS PVT. LTD. S 200000 15.29
1/9/2008 531602 KOFF BR PICT LAXMI CAP BROKING PVT LTD B 30737 29.41
1/9/2008 531602 KOFF BR PICT LAXMI CAP BROKING PVT LTD S 29769 29.57
1/9/2008 533015 NUTEK INDIA ADITYA S SHAH B 370726 202.43
1/9/2008 533015 NUTEK INDIA H.J.SECURITIES PVT.LTD. B 313882 205.46
1/9/2008 533015 NUTEK INDIA YUVAK SHARE TRADING PVT.LTD. B 94724 207.91
1/9/2008 533015 NUTEK INDIA ADITYA S SHAH S 269414 199.99
1/9/2008 533015 NUTEK INDIA H.J.SECURITIES PVT.LTD. S 313882 205.97
1/9/2008 533015 NUTEK INDIA YUVAK SHARE TRADING PVT.LTD. S 93724 207.50
1/9/2008 533017 RESURGERE PR VYAPAAR PRIVATE LIMITED B 149880 295.64
1/9/2008 533017 RESURGERE MARWADI SHARES AND FINANCE LIMITED B 266792 487.21
1/9/2008 533017 RESURGERE EUREKA STOCK AND SHARE BROKING SERVICES LIMITED B 449865 436.84
1/9/2008 533017 RESURGERE R M SHARES TRADING PVT LTD B 652444 424.76
1/9/2008 533017 RESURGERE B K SHAH CO B 397133 447.61
1/9/2008 533017 RESURGERE H.J.SECURITIES PVT.LTD. B 1855535 414.90
1/9/2008 533017 RESURGERE MAVI INVESTMENT FUND LTD B 600000 324.33
1/9/2008 533017 RESURGERE YUVAK SHARE TRADING PVT LTD B 267485 411.30
1/9/2008 533017 RESURGERE KHANDWALA TRADELINK B 192807 471.49
1/9/2008 533017 RESURGERE AMU SHARES AND SEC LTD B 176125 457.69
1/9/2008 533017 RESURGERE MARWADI SHARES AND FINANCE LIMITED S 266792 489.46
1/9/2008 533017 RESURGERE EUREKA STOCK AND SHARE BROKING SERVICES LIMITED S 449865 437.45
1/9/2008 533017 RESURGERE R M SHARES TRADING PVT LTD S 652444 431.81
1/9/2008 533017 RESURGERE B K SHAH CO S 396487 445.49
1/9/2008 533017 RESURGERE H.J.SECURITIES PVT.LTD. S 1855535 415.70
1/9/2008 533017 RESURGERE MEENAL NITISH THAKUR S 215283 417.20
1/9/2008 533017 RESURGERE YUVAK SHARE TRADING PVT LTD S 271086 413.70
1/9/2008 533017 RESURGERE KHANDWALA TRADELINK S 170821 464.83
1/9/2008 533017 RESURGERE AMU SHARES AND SEC LTD S 176125 459.54
1/9/2008 524636 S.S.ORGANICS AVINASH REDDY CH B 100000 8.74
1/9/2008 524636 S.S.ORGANICS ARYAVART SAVINGS UNIT LIMITED S 97600 8.71
1/9/2008 532765 USHER AGRO MANHARLAL NAROTTAMDAS SHAH B 148566 128.44
1/9/2008 532360 VINTAGE CARD MBL AND COMPANY LIMITED B 10551 120.41
1/9/2008 532360 VINTAGE CARD MANSUKH STOCK BROKERS LTD B 39821 120.19
1/9/2008 532360 VINTAGE CARD MANSUKH SECURITIES AND FINANCE LTD B 26852 119.97
1/9/2008 532360 VINTAGE CARD VIRAGKUMAR SURESH PATEL B 3000 117.92
1/9/2008 532360 VINTAGE CARD SANJAY GUPTA B 3200 116.95
1/9/2008 532360 VINTAGE CARD MATHEWS P K B 3000 119.63
1/9/2008 532360 VINTAGE CARD YUVAK SHARE TRADING PVT.LTD. B 8329 123.10
1/9/2008 532360 VINTAGE CARD SETU SECURITIES PVT LTD S 20928 120.50
1/9/2008 532360 VINTAGE CARD MBL AND COMPANY LIMITED S 10551 120.68
1/9/2008 532360 VINTAGE CARD MANSUKH STOCK BROKERS LTD S 39821 119.99
1/9/2008 532360 VINTAGE CARD MANSUKH SECURITIES AND FINANCE LTD S 26852 119.93
1/9/2008 532360 VINTAGE CARD SANJAY GUPTA S 3200 119.75
1/9/2008 532360 VINTAGE CARD MATHEWS P K S 3000 122.30
1/9/2008 532360 VINTAGE CARD YUVAK SHARE TRADING PVT.LTD. S 10590 123.50
1/9/2008 533011 VISHAL INFO MBL AND COMPANY LIMITED B 64049 300.55
1/9/2008 533011 VISHAL INFO MBL AND COMPANY LIMITED S 64049 300.56
NSE Bulk Deals to Watch - Sep 1 2008
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
01-SEP-2008,ARCHIES,Archies Limited,FIN BRAINS SECURITIES (INDIA) LTD.,BUY,69026,128.36,-
01-SEP-2008,ARCHIES,Archies Limited,MANSUKH SECURITIES & FINANCE LTD,BUY,34473,126.16,-
01-SEP-2008,ARCHIES,Archies Limited,MBL & COMPANY LTD.,BUY,89455,125.85,-
01-SEP-2008,ARCHIES,Archies Limited,NAMAN SECURITIES & FINANCE PVT LTD,BUY,44432,129.96,-
01-SEP-2008,ARCHIES,Archies Limited,YUVAK SHARE TRADING PVT LTD,BUY,51400,130.89,-
01-SEP-2008,DYNAMATECH,Dynamatic Tech. Ltd.,FIDELITY INVESTMENTS MANAGEMENT (HONG KONG) LTD A/C FID INVT,BUY,38500,1250.00,-
01-SEP-2008,EVERONN,Everonn Systems India Lim,P R B SECURITIES PRIVATE LTD,BUY,105197,564.67,-
01-SEP-2008,NUTEK,Nu Tek India Limited,AMBIT SECURITIES BROKING PVT. LTD.,BUY,206117,199.89,-
01-SEP-2008,NUTEK,Nu Tek India Limited,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,BUY,212020,194.48,-
01-SEP-2008,NUTEK,Nu Tek India Limited,KAUSHIK SHAH SHARES & SECURITIES PVT LTD,BUY,102399,207.22,-
01-SEP-2008,NUTEK,Nu Tek India Limited,MANSUKH SECURITIES & FINANCE LTD,BUY,119408,194.90,-
01-SEP-2008,NUTEK,Nu Tek India Limited,PRASHANT JAYANTILAL PATEL,BUY,203962,205.99,-
01-SEP-2008,NUTEK,Nu Tek India Limited,RASHI EQUISEARCH PVT. LTD.,BUY,94302,203.73,-
01-SEP-2008,NUTEK,Nu Tek India Limited,TRANSGLOBAL SECURITIES LTD.,BUY,343041,201.44,-
01-SEP-2008,NUTEK,Nu Tek India Limited,YUVAK SHARE TRADING PVT LTD,BUY,188951,206.14,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,AMBIT SECURITIES BROKING PVT. LTD.,BUY,464897,439.64,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,BUY,447093,437.31,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,B K SHAH CO KETAN BHAILAL SHAH,BUY,446569,415.39,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,CHOKHANI SECURITIES LTD,BUY,174107,453.62,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,CPR CAPITAL SERVICES LTD.,BUY,302814,439.51,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,DINDAYAL BIYANI STOCK BROKERS LTD,BUY,158311,352.94,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,DIPAN MEHTA SHARE & STOCK BROKERS PVT. LTD.,BUY,291692,434.76,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,DKG SECURITIES PVT. LTD.,BUY,200000,297.71,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,G RAMAKRISHNA,BUY,174301,456.70,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,HARBUX SINGH SIDHU,BUY,723599,452.71,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,HIMAL K PARIKH-HUF,BUY,190315,438.16,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,JAYESH HARILAL FURIA,BUY,177223,454.59,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,KAUSHIK SHAH SHARES & SECURITIES PVT LTD,BUY,1347901,436.69,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,KHANDWALA TRADELINK CO,BUY,393936,474.17,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,KOTECHA NIRMAL N,BUY,153401,507.75,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,LATIN MANHARLAL SECURITIES PVT. LTD.,BUY,880896,468.06,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,MANIPUT INVESTMENTS PVT LTD,BUY,647746,446.50,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,MARWADI SHARES AND FINANCE LIMITED,BUY,308051,475.38,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,MITHALI MUKESH GUDEKAR,BUY,677537,351.07,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,NAMAN SECURITIES & FINANCE PVT LTD,BUY,351925,428.75,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,OPG SECURITIES PVT. LTD.,BUY,337314,458.22,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,P R B SECURITIES PRIVATE LTD,BUY,657224,483.50,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,PRAMESH DILIP WAGHELA,BUY,233557,470.31,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,PRASHANT JAYANTILAL PATEL,BUY,1037591,465.84,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,PUJA TAPARIA,BUY,295643,473.44,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,R APPALA RAJU,BUY,278000,419.26,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,R.M. SHARE TRADING PVT LTD,BUY,977648,441.00,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,RAHUL DOSHI,BUY,160364,443.56,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,TRANSGLOBAL SECURITIES LTD.,BUY,781581,426.12,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,YUVAK SHARE TRADING PVT LTD,BUY,676536,421.62,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ADROIT FINANCIAL SERVICES PVT LTD,BUY,26836,118.92,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ALOK MAHESHWARI,BUY,5430,118.26,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,AMBIT SECURITIES BROKING PVT. LTD.,BUY,10766,120.89,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ANIL PILLAI ,BUY,4532,120.47,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ANJI PRASAD GAYAM,BUY,6700,119.98,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ASHISA KUMARI PANIGRAHI,BUY,5232,117.64,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,BESTO TRADE COM PVT LTD,BUY,4870,122.04,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,CAPITAL WIZARD STOCK BROKING PRIVATE LIMITED,BUY,5964,119.30,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,CLEAN FINANCE & INVESTMENT LTD,BUY,7500,123.04,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,CPR CAPITAL SERVICES LTD.,BUY,24759,119.74,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,DEEPAK B DESAI,BUY,3610,118.81,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,DODDALA RADEESH,BUY,4000,120.58,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,FIN BRAINS SECURITIES (INDIA) LTD.,BUY,8892,119.93,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,G SANGEETHA,BUY,5000,122.71,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,G UPENDRANATH,BUY,17742,121.66,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,GULAINI POOJA,BUY,3285,115.50,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,GUMMADY PITHCHAIAH CHOWDARY,BUY,4695,119.13,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,GUPTA NEHA,BUY,6224,118.26,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,JAGJIT SINGH,BUY,7453,115.39,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,KAINTMAN PORTFOLIO PROP. MANISH KAINTURA,BUY,5500,121.62,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,KAMAL KUMAR KABRA,BUY,8000,121.96,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,KUSHUM LATA GOYEL,BUY,3000,122.66,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,LATHA.R,BUY,4122,120.07,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MAHENDRA RAJA. C,BUY,3000,122.58,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MANISH SAINI,BUY,3000,119.10,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MANSUKH SECURITIES & FINANCE LTD,BUY,62178,119.95,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MAYANK DUBEY,BUY,902,117.90,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MBL & COMPANY LTD.,BUY,30650,120.42,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MEENA KUMARI,BUY,5286,117.18,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MEENAKSHI DEWAN,BUY,3600,119.71,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MITHUN SECURITIES PVT. LTD.,BUY,6473,121.43,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MUDUPULAVEMULA SURENDRANADHA REDDY,BUY,3248,119.94,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,N RAVI KUMAR,BUY,8758,120.41,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,NAMAN SECURITIES & FINANCE PVT LTD,BUY,11821,121.76,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PACE FINANCIAL SERVICES,BUY,10000,122.56,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PASHUPATI CAPITAL SERVICES PVT. LTD.,BUY,5604,119.00,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PAWAN NATANI,BUY,2500,122.24,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PRAGATI PAPER MILLS LTD,BUY,6976,119.81,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PRASHANT GOYAL,BUY,3002,120.01,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,RAJIV SOBTI,BUY,12781,121.88,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,RAO KATAKAM VENKATESH,BUY,4022,117.87,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SABADRA HARAKCHAND KACHARDAS,BUY,3000,119.08,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SETU SECURITIES LTD,BUY,1543,123.00,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SHAREKHAN INT.SHORTAGE A/C,BUY,3039,120.07,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SHREE RIDDHI SIDDHI INVESTMENTS,BUY,3800,119.13,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SREEDEVI A,BUY,5263,119.04,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SURESH BANSAL,BUY,5701,120.83,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SUSHIL KUMAR JOHAR,BUY,5057,122.82,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,TAHEMINA R MOMIN,BUY,3200,117.05,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,TRANSGLOBAL SECURITIES LTD.,BUY,14746,119.08,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,U J SECURITIES PVT. LTD.,BUY,3969,121.04,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,URJA INVESTMENT PVT. LTD.,BUY,3021,120.58,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,YUVAK SHARE TRADING PVT LTD,BUY,18249,123.14,-
01-SEP-2008,VITLINFO,Vishal Information Techno,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,BUY,101089,310.63,-
01-SEP-2008,VITLINFO,Vishal Information Techno,MBL & COMPANY LTD.,BUY,58916,300.97,-
01-SEP-2008,VITLINFO,Vishal Information Techno,S SIVAKUMAR,BUY,63549,312.79,-
01-SEP-2008,VITLINFO,Vishal Information Techno,YUVAK SHARE TRADING PVT LTD,BUY,70069,313.25,-
01-SEP-2008,ARCHIES,Archies Limited,FIN BRAINS SECURITIES (INDIA) LTD.,SELL,69026,128.58,-
01-SEP-2008,ARCHIES,Archies Limited,MANSUKH SECURITIES & FINANCE LTD,SELL,34473,125.55,-
01-SEP-2008,ARCHIES,Archies Limited,MBL & COMPANY LTD.,SELL,89451,125.65,-
01-SEP-2008,ARCHIES,Archies Limited,NAMAN SECURITIES & FINANCE PVT LTD,SELL,43946,130.87,-
01-SEP-2008,ARCHIES,Archies Limited,YUVAK SHARE TRADING PVT LTD,SELL,49800,131.13,-
01-SEP-2008,DYNAMATECH,Dynamatic Tech. Ltd.,NEW VERNON ASSET MANAGEMENT LTD A/C NEW VERNON INDIA LIMITED,SELL,38500,1250.00,-
01-SEP-2008,EVERONN,Everonn Systems India Lim,P R B SECURITIES PRIVATE LTD,SELL,104797,565.05,-
01-SEP-2008,NUTEK,Nu Tek India Limited,AMBIT SECURITIES BROKING PVT. LTD.,SELL,206117,200.21,-
01-SEP-2008,NUTEK,Nu Tek India Limited,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,SELL,212020,195.10,-
01-SEP-2008,NUTEK,Nu Tek India Limited,KAUSHIK SHAH SHARES & SECURITIES PVT LTD,SELL,102399,207.27,-
01-SEP-2008,NUTEK,Nu Tek India Limited,MANSUKH SECURITIES & FINANCE LTD,SELL,119408,195.64,-
01-SEP-2008,NUTEK,Nu Tek India Limited,PRASHANT JAYANTILAL PATEL,SELL,203962,206.16,-
01-SEP-2008,NUTEK,Nu Tek India Limited,RASHI EQUISEARCH PVT. LTD.,SELL,40861,200.13,-
01-SEP-2008,NUTEK,Nu Tek India Limited,TRANSGLOBAL SECURITIES LTD.,SELL,340041,202.03,-
01-SEP-2008,NUTEK,Nu Tek India Limited,YUVAK SHARE TRADING PVT LTD,SELL,184951,207.04,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,AMBIT SECURITIES BROKING PVT. LTD.,SELL,464951,441.08,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,SELL,447093,434.84,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,B K SHAH CO KETAN BHAILAL SHAH,SELL,446566,409.00,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,CHOKHANI SECURITIES LTD,SELL,174107,432.40,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,CPR CAPITAL SERVICES LTD.,SELL,302814,439.82,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,DINDAYAL BIYANI STOCK BROKERS LTD,SELL,158311,346.50,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,DIPAN MEHTA SHARE & STOCK BROKERS PVT. LTD.,SELL,291692,434.68,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,DKG SECURITIES PVT. LTD.,SELL,97000,515.32,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,G RAMAKRISHNA,SELL,174301,455.10,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,HARBUX SINGH SIDHU,SELL,723599,453.25,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,HIMAL K PARIKH-HUF,SELL,190315,419.53,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,INDUSINO MAURITUS LTD.,SELL,164362,287.14,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,JAYESH HARILAL FURIA,SELL,177223,454.61,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,KAUSHIK SHAH SHARES & SECURITIES PVT LTD,SELL,1347901,437.51,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,KHANDWALA TRADELINK CO,SELL,415330,477.19,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,KOTECHA NIRMAL N,SELL,18401,513.14,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,LATIN MANHARLAL SECURITIES PVT. LTD.,SELL,880896,468.94,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,MANIPUT INVESTMENTS PVT LTD,SELL,647746,446.87,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,MARWADI SHARES AND FINANCE LIMITED,SELL,308051,475.62,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,MITHALI MUKESH GUDEKAR,SELL,428776,463.56,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,NAMAN SECURITIES & FINANCE PVT LTD,SELL,351925,425.49,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,OPG SECURITIES PVT. LTD.,SELL,337312,458.59,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,P R B SECURITIES PRIVATE LTD,SELL,657224,483.85,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,PRAMESH DILIP WAGHELA,SELL,233557,470.19,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,PRASHANT JAYANTILAL PATEL,SELL,1037591,464.85,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,PUJA TAPARIA,SELL,295643,480.37,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,R APPALA RAJU,SELL,278000,417.06,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,R.M. SHARE TRADING PVT LTD,SELL,977648,436.23,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,RAHN AND BODMER,SELL,165000,529.34,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,RAHUL DOSHI,SELL,160364,450.65,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,TRANSGLOBAL SECURITIES LTD.,SELL,781581,420.21,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,YUVAK SHARE TRADING PVT LTD,SELL,676536,420.52,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ADROIT FINANCIAL SERVICES PVT LTD,SELL,26836,119.07,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ALOK MAHESHWARI,SELL,5430,118.43,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,AMBIT SECURITIES BROKING PVT. LTD.,SELL,10766,120.97,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ANIL PILLAI ,SELL,4532,121.42,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ANJI PRASAD GAYAM,SELL,6700,119.25,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ASHISA KUMARI PANIGRAHI,SELL,5232,120.59,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,BESTO TRADE COM PVT LTD,SELL,4870,121.60,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,CAPITAL WIZARD STOCK BROKING PRIVATE LIMITED,SELL,5964,119.18,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,CLEAN FINANCE & INVESTMENT LTD,SELL,5000,120.94,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,CPR CAPITAL SERVICES LTD.,SELL,24759,119.59,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,DEEPAK B DESAI,SELL,3610,118.31,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,DODDALA RADEESH,SELL,4000,123.27,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,FIN BRAINS SECURITIES (INDIA) LTD.,SELL,8892,120.06,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,G SANGEETHA,SELL,5000,116.92,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,G UPENDRANATH,SELL,17742,120.86,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,GULAINI POOJA,SELL,3285,122.00,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,GUMMADY PITHCHAIAH CHOWDARY,SELL,4695,119.56,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,GUPTA NEHA,SELL,6224,119.02,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,JAGJIT SINGH,SELL,7453,117.30,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,KAINTMAN PORTFOLIO PROP. MANISH KAINTURA,SELL,5500,120.80,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,KAMAL KUMAR KABRA,SELL,2000,121.30,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,KUSHUM LATA GOYEL,SELL,1139,121.81,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,LATHA.R,SELL,4122,119.18,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MAHENDRA RAJA. C,SELL,3000,114.86,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MANISH SAINI,SELL,3000,119.29,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MANSUKH SECURITIES & FINANCE LTD,SELL,62178,120.40,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MAYANK DUBEY,SELL,3902,116.72,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MBL & COMPANY LTD.,SELL,30739,120.58,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MEENA KUMARI,SELL,5286,116.63,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MEENAKSHI DEWAN,SELL,1900,119.67,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MITHUN SECURITIES PVT. LTD.,SELL,6473,121.97,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MUDUPULAVEMULA SURENDRANADHA REDDY,SELL,3248,119.65,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,N RAVI KUMAR,SELL,8758,121.60,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,NAMAN SECURITIES & FINANCE PVT LTD,SELL,6296,117.54,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PACE FINANCIAL SERVICES,SELL,10000,119.65,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PASHUPATI CAPITAL SERVICES PVT. LTD.,SELL,5604,118.86,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PAWAN NATANI,SELL,3500,116.92,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PRAGATI PAPER MILLS LTD,SELL,6976,121.38,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PRASHANT GOYAL,SELL,3002,119.03,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,RAHUL DOSHI,SELL,4010,118.04,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,RAJIV SOBTI,SELL,20713,120.12,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,RAO KATAKAM VENKATESH,SELL,4022,118.95,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SABADRA HARAKCHAND KACHARDAS,SELL,3000,120.77,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SETU SECURITIES LTD,SELL,6000,119.75,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SHREE RIDDHI SIDDHI INVESTMENTS,SELL,1800,118.36,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SREEDEVI A,SELL,5263,119.21,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SURESH BANSAL,SELL,6900,118.72,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SUSHIL KUMAR JOHAR,SELL,1261,123.60,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,TAHEMINA R MOMIN,SELL,3200,118.46,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,TRANSGLOBAL SECURITIES LTD.,SELL,14746,119.45,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,U J SECURITIES PVT. LTD.,SELL,3969,120.39,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,URJA INVESTMENT PVT. LTD.,SELL,3021,120.97,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,V.K. KUMRA,SELL,3143,116.69,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,VIRAGKUMAR SURESHBHAI PATEL,SELL,3000,123.29,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,YUVAK SHARE TRADING PVT LTD,SELL,18848,123.34,-
01-SEP-2008,VITLINFO,Vishal Information Techno,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,SELL,101089,311.58,-
01-SEP-2008,VITLINFO,Vishal Information Techno,MBL & COMPANY LTD.,SELL,58916,301.33,-
01-SEP-2008,VITLINFO,Vishal Information Techno,S SIVAKUMAR,SELL,63549,312.17,-
01-SEP-2008,VITLINFO,Vishal Information Techno,YUVAK SHARE TRADING PVT LTD,SELL,61163,312.78,-
Resurgere Mines & Minerals spurts on debut
Settles at Rs 524.35 on BSE, a 94.20% premium over IPO price of Rs 270
Resurgere Mines & Minerals settled at Rs 524.35 on BSE, a 94.20% premium over initial public offer price of Rs 270. The counter clocked huge volumes of 3.31 crore shares on BSE.
Resurgere Mines & Minerals India debuted at Rs 272.05 on BSE, a marginal premium of 0.75% over its issue price of Rs 270. The stock hit a high and low of Rs 562.80 and Rs 272.05.
The current price of Rs 524.35 discounts its FY 2008 EPS of Rs 23.32, by a PE multiple of 22.48.
The company raised Rs 120 crore rupees through its 44.5 lakh share initial public offer (IPO) in a price band of Rs 263 and Rs 272 a share. The IPO was oversubscribed 1.16 times. The issue price was later fixed at Rs 270 per share. The issue opened for subscription on 11 August 2008 and closed on 13 August 2008.
Resurgere Mines & Minerals India is in the business of extraction, processing and sale of mineral products and exploration and development of mining assets. The product range includes various forms of iron ore such as Lump ore, Size ore, Calibrated Lump ore (CLO) and iron ore fines etc. and bauxite. The company sells all these products domestically except iron ore fines, which the company exports to China.
The company will utilise the proceeds of the initial pubilc offer for purchasing plant and machinery and purchase railway rakes to set up own logistics infrastructure facilities and funding working capital requirements.
The company reported 110.4% spurt in net profit to Rs 66.56 crore on 154.80% surge in net sales to Rs 418.57 crore in the year ended March 2008 over the year ended March 2007.
Market ends with minor losses after strong intra-day rebound
Buying support in banking pivotals helped the market stage a sharp recovery from lower level in the last one hour of the trading session. Buying was also witnessed in PSU and oil & gas shares. Metal shares were the biggest losers in today’s trade. Resurgere Mines & Minerals settled at a 94.20% premium over the initial public offer (IPO) price.
The BSE 30-share Sensex lost 66.02 points or 0.45% to 14,498.51. The index opened with a downward gap of 151.54 point on weak global cues. Selling activity intensified by afternoon, dragging the index lower by 283.43 point at the day’s low of 14,281.10. However, strong buying support in banking and other index pivotals towards the latter part of the trading session helped the Sensex pare early losses. The barometer index was down 17.12 points at the day's high of 14,547.41 struck at the fag end of the trading session.
The S&P CNX Nifty was down 11.35 points or 0.26% to 4348.65. It came off session's low of 4281.35. Nifty September 2008 futures were at 4361, at a premium of 12.35 points as compared to spot closing.
As per provisional data released by the stock exchanges after trading hours, foreign funds today, 1 September 2008, sold shares worth a net Rs 241.85 crore. Domestic funds bought shares worth a net Rs 82.62 crore.
The small-cap and and mid-cap indices on BSE both ended flat for the day.
The market breadth, which was weak for a better part of the session, turned positive at the fag end of the session. On BSE, 1329 shares advanced against 1255 that declined. 96 stocks were unchanged.
BSE clocked a turnover of Rs 3403 crore as against Rs 5,430.84 crore on Friday, 29 August 2008. NSE's futures & options (F&O) segment turnover was Rs 37,943.16 crore, lower than Rs 43,170.27 crore on Friday, 29 August 2008.
The BSE Sensex is down 5788.48 points or 28.53% in the calendar year 2008 so far from its close of 20,286.99 on 31 December 2007. It is 6708.26 points or 31.63% away from its all-time high of 21,206.77 struck on 10 January 2008.
Top Sensex gainers were, ITC (up 1.62% at Rs 191.65), Bharat Heavy Electricals (up 0.90% at Rs 1721.90), Satyam Computer (up 0.88% at Rs 423.40), ONGC (up 0.64% at Rs 1029.80), and ACC (up 0.45% at Rs 564.20).
Major Sensex losers were, Ranbaxy Laboratories (down 3.61% at Rs 499.80), Tata Steel (down 2.67% at Rs 584.30), Bharti Airtel (down 2.50% at Rs 816.25), and Reliance Communication (down 1.71% at Rs 388.95).
India’s largest passenger car maker by sales Maruti Suzuki India declined 2.56% to Rs 633.75 after the company posted 9.2% fall in sales to 59,908 units in August 2008 over August 2007. The stock had risen 3.83% in two trading sessions to Rs 650.40 on 29 August 2008 from Rs 626.40 on 27 August 2008. The stock had hit a low of Rs 618.35 earlier.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries (RIL) rose 0.18% to Rs 2140.55. The stock moved in the range of Rs 2165 to Rs 2106. The company has abandoned a plan to transfer an 80% stake in a deepwater block to its subsidiaries as it has raised the money it needs for the block, the company said in a statement today, 1 September 2008.
RIL, which owns 90% in the gas-rich D-6 block in the Krishna Godavari basin off India's east coast, said last week it had sent a proposal for the transfer of the stake to four fully-owned subsidiaries and was awaiting government approval.
India's second largest software exporter by sales Infosys Technnologies was down 1.44% to Rs 1723.30.
Banking shares recovered sharply. The BSE Bankex outperformed the Sensex, rising 0.17% to 7,021.35. The index came off from a low of 6,823.41. India’s second largest private sector bank in terms of net profit HDFC Bank rose 1.48% at Rs 1296.10. It came off from the day’s low of Rs 1245.60. India's largest commercial lender State Bank of India rose 0.88% at Rs 1416. It came of from the day’s low of Rs 1360. India’s largest private sector bank by market capitalisation ICICI Bank fell 1.03% at Rs 664.55. It had touched a low of Rs 649.90 earlier.
PSU stocks gained. Syndicate Bank (up 5.73% at Rs 62.75), BEML (up 5.45% at Rs 772.45), Rural Electrification Corporation (up 4.65% at Rs 91.10), and Canara Bank (up 2.48% at Rs 220.85), flared up. The BSE PSU index outperformed the Sensex, rising 0.31% at 6,768.18.
Oil & gas stocks were mixed. Private sector oil & gas stocks rose. However, state-run oil firms were trading lower. Essar Oil (up 3.80% at Rs 217.35), and Reliance Petroleum (up 0.86% at Rs 158.40), rose.
Among the state-run oil firms, Indian Oil Corporation (down 1.17% at Rs 396.75) and BPCL (down 0.64% at Rs 301.40), dropped. The BSE Oil & Gas index outperformed the Sensex, rising 0.30% at 9,688.58.
Metal stocks tumbled. National Aluminium Company (down 2.41% at Rs 378.35), Sesa Goa (down 2.05% at Rs 155), JSW Steel (down 1.64% at Rs 751.75), and Steel Authority of India (down 1.44% at Rs 153.80), declined. The BSE MEtal index underperformed the Sensex, falling 1.08% at 12,214.11.
India's third biggest motorcycle maker by sales TVS Motors rose 1.53% at Rs 33.15 after the company said its two-wheeler sales rose 11% to 114,321 units in August 2008 over August 2007.
Construction firm Gammon Infrastructure Projects rose 3.21% to Rs 98 after the company said it has won rights to build a 261 megawatt hydrapower plant in Himachal Pradesh, at a cost of Rs 1510 crore.
State-run miner NMDC gained 2.80% to Rs 311.55 after the company said it plans to set up an integrated steel plant at Nagarnar in Chhattisgarh.
Engineering firm Shriram EPC rose 2.74% to Rs 256.85 after the company said it has acquired 55% stake in Chennai based Blackstone Group Technologies for an undisclosed sum.
Iron ore miner Resurgere Mines & Minerals settled at Rs 524.35 on BSE, a 94.20% premium over initial public offer price of Rs 270. The stock debuted at Rs 272.05 on BSE, a marginal premium of 0.75% over its issue price of Rs 270. The stock hit a high and low of Rs 562.80 and Rs 272.05.
Debutant Resurgere Mines and Minerals clocked the highest turnover of Rs 1436.18 crore on BSE. Reliance Capital (Rs 214.31 crore), Reliance Industries (Rs 173.43 crore), Nu Tek India (Rs 132.70 crore), and ICICI Bank (Rs 115.57 crore), were the other turnover toppers on BSE in that order.
Debutant Resurgere Mines and Minerals registered the highest volume of 3.31 crore shares on BSE. Reliance Natural Resources (1.18 crore shares), Nu Tek India (65.56 lakh shares), Chambal Fertilizers & Chemicals (53.22 lakh shares), Noida Toll Bridge (44.57 lakh shares), were the other volume toppers on BSE in that order.
European market were trading lower. Key benchmark indices in UK, France and Germany were down 0.51% to 0.89%. Asian stocks dropped today, 1 September 2008, amid concerns about the impact of weaker global demand on the region's economies. Key benchmark indices in Hong Kong, Japan, South Koera, Singapore, Taiwan and China were down by between 0.95% to 4.06%
US stocks tumbled on Friday, 29 August 2008, led lower by tech shares after computer maker Dell warned that companies worldwide are cutting back on technology spending. The Dow Jones industrial average lost 171.47 points, or 1.46%, at 11,543.71. The Standard & Poor's 500 Index was down 17.93 points, or 1.38%, at 1,282.75. The Nasdaq Composite Index shed 44.12 points, or 1.83%, at 2,367.52.
Economic data added to the market's jitters ahead of the long Labor Day weekend. US market remains closed on Monday, 1 September 2008, for Labor Day holiday.
Weak global indices may weigh
Market is likely to open with a negative gap following the weak international markets. Also intra-day volatility remains the major concern. Among the local indices the Nifty has a support at 4330 and it may rise to 4400, while the Sensex has a support at 14400 and has a resistance at 14700.
US indices declined sharply on Friday with the Dow Jones slipped almost 172 at 11544, the Nasdaq lost 44 points to close at 2368.
Most of the Indian ADRs trading on the US bourses closed in the green. Rediff led the pack with gains of over 4.95% followed by Satyam, VSNL and Dr Reddy both of which gained above 1-2%. Tata Motors, ICICI Bank, and Patni Computer gained marginally. However, Infosys, Wipro, HDFC Bank and MTNL eased marginally.
Crude oil prices in the US markets moved down marginally, with the Nymex light crude oil for October delivery moving down by 13 cents to close at $115.46 a barrel. In the Commodity segment, the Comex gold for December series lost $2.20 cents to settle at $835.00 a troy ounce.
Market may slip on weak global cues
The market may edge lower on weak cues from global equities. US stocks tumbled on Friday, 29 August 2008, led lower by tech shares after computer maker Dell warned that companies worldwide are cutting back on technology spending. The Dow Jones industrial average lost 171.47 points, or 1.46%, at 11,543.71. The Standard & Poor's 500 Index was down 17.93 points, or 1.38%, at 1,282.75. The Nasdaq Composite Index shed 44.12 points, or 1.83%, at 2,367.52.
Economic data added to the market's jitters ahead of the long Labor Day weekend. US market remains closed on Monday, 1 September 2008, for Labor Day holiday.
The Indian stock market surged on Friday, 29 August 2008, as data showing a slower-than-expected GDP growth in Q1 June 2008 and softening of inflation raised hopes for a pause in monetary tightening by the central bank. The BSE Sensex jumped 516.19 points.
India's gross domestic product (GDP) grew 7.9% in the June 2008 quarter from a year earlier, easing from the previous quarter's 8.8% rise as industrial activity slowed due to monetary tightening. The GDP growth in the first quarter of the current fiscal year was lower than market expectations of a rise of a little above 8%
According to a recent report by Goldman Sachs, the outcome of the southwest monsoon is key as 60% of India’s labour force is engaged in the agricultural sector and it has big knock-on effect on industry and services. The monsoon rains between 1 June 2008 to 24 August 2008 were near normal at 1% below the long-term average.
Annual wholesale price inflation rose 12.40% in 12 months to 16 August 2008, below the previous week's 12.63% but remained stuck at 13-year highs, data released by the government after trading hours on Thursday, 28 August 2008 showed. No conclusion can be drawn from one week's inflation number, Finance Minister P Chidambaram said. Inflation has nearly tripled from 4.39% a year ago and now is riding around the highest levels since the current inflation series began being compiled 13 years ago. It remains far above central bank’s target of 7%
Reserve Bank of India (RBI) after trading hours on Friday, 29 August 2008, said the inflation rates have hardened beyond tolerable levels and the monetary policy will continue to address aggregate demand pressures, which appear to be strongly in evidence. The central bank also said it had to ensure that the effectiveness of monetary policy was not diluted by fiscal expansion.
There were several risks to growth prospects of the economy in the short term, stemming from both global and local factors, the central bank said in its review of the year ended 30 June, 2008.
Concerns about populist measures by the government and their adverse impact on fiscal deficit will continue to haunt the bourses in the coming months ahead of the parliamentary elections which must be held by May 2009. Recently, the government approved an average 21% pay rise for central government employees and military personnel, the first revision of government salary scales in 12 years.
Meanwhile, equity mutual funds are sitting on large cash pile and deployment of cash by them may lend support to the stock market at declines. Equity funds are having 11% of assets in cash.
As per provisional data released by the stock exchanges, foreign funds on Friday, 29 August 2008, sold shares worth a net Rs 364.61 crore. Domestic funds bought shares worth a net Rs 281.07 crore.
Foreign institutional investors (FIIs) were net buyers of Rs 1,586 crore in the futures & options segment on Friday, 29 August 2008. According to the data released by the National Stock Exchange, FIIs were net buyers of index futures to the tune of Rs 1,015.19 crore and bought index options worth Rs 907.43 crore. They were net sellers of stock futures to the tune of Rs 447.61 crore and bought stock options worth Rs 110.53 crore.
In the next few days, the market will also closely watch developments on the Indo-US nuclear deal. A crucial two-day meeting of the Nuclear Suppliers Group (NSG) begins in Vienna on Thursday, 4 September 2008. India on Friday, 29 August 2008, made it clear that it will only accept a clean waiver without any conditions from the cartel that controls global export of nuclear fuel and know-how.
All 45 members of NSG must approve the nuclear accord, which the US Congress must also pass for the deal to come through. The last meeting of the NSG, held in Vienna on 20 August 2008-21 August 2008 ended on an inconclusive note with some countries in the NSG raising objections about some aspects of the India-US civil nuclear deal that they suspect can adversely affect global non-proliferation regime.
Aries Agro
We recommend a buy in Aries Agro from a short-term perspective. It is clearly evident from the charts of Aries Agro that it has been on a medium-term uptrend from its 52-week low of Rs 84, recorded in early July. The stock has been forming higher peaks and higher troughs since then. In late July, the stock penetrated its intermediate-term down trendline which was in place since January high of Rs 264. On August 29, the stock Jumped up 8 per cent, accompanied with heavy vol ume taking support from its 50 day moving average. The stock is trading well above its 21- and 50-day moving averages.
The daily relative strength index (RSI) is on the brink of entering in to the bullish zone from the neutral region and weekly RSI is likely to enter into neutral region from the bearish zone. Daily moving average convergence and divergence (MACD) is featuring in the positive territory. The medium-term up trendline is intact. We are positive on the stock from a short-term perspective. We expect the stock to move up until it hits our price target of Rs 130 in the upcoming trading sessions. Traders with short-term perspective can buy the stock while maintaining a stop-loss at Rs 112.
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