Market in a nutshell
- Markets opened negative, and meandered into the green for a brief duration during morning trades. The inflation figures did not impact the indices significantly, however shockingly dismal IIP numbers caused the bourses to slide steadily till close. Sensex closed at 13,470 (down 456 points) while Nifty ended the day at 4,049 (down 113 points).
- It was an eventful week with news of the Left withdrawing support from the government, although without creating much of an impact on the markets. Easing crude prices helped the bourses to gain some strength, but the gains were pared due to disappointing IIP numbers.
- Nifty July Futures were trading at a discount of 25-30 points to spot for major part of the session.
- BSE IT Index was the worst hit due to the strengthening rupee. It plummeted 7% to 3,908, with TCS declining 8% to INR 799. BSE Capital Goods Index tanked 5% to 10,774, with L&T sinking 7% to INR 2,357.
- Market breadth was weak with an Advance: Decline Ratio of 1:3. Air Deccan and IFCI both lost around 9.5% to INR 71 and INR 40, respectively.
- Cash volumes were at INR 176,558 mn (NSE+BSE) as against a 5 DMA of INR 168,832 mn. F&O volumes picked up at INR 501,498 mn as against a 5 DMA of INR 427,056 mn.
Eye Catchers
- NDTV gained 4% to INR 400 with volumes of 370,470 (up 530%).
- Strides Arcolab was up 2% to INR 144 with volumes of 145,598 (up 450%).
Market News
- Rupee appreciated sharply to trade at INR 42.87 against the dollar, in anticipation of investment inflows.
- Nymex crude marched ahead to trade at $145.29/bbl. Base metals were trading on a robust note with lead leading the pack of gainers up 11%.
- The WPI based inflation ratefor the week ended 28 June rose to 11.89%, as against 11.63% recorded in the previous week.
- Growth in the Index of Industrial Production during May, 2008 slipped to 3.8%, as against 10.6% in the same month of 2007.
- Bharat Heavy Electricals bagged an INR 12.75 bn order from the Tamilnadu Electricity Board for supply of 600 mw thermal power generating unit on Engineering, Procurement and Construction basis.
- Punjab State Electricity Board allotted the 2,000 MW Talwandi Sabo Thermal Power Project to Sterlite Energy Limited, Mumbai.
- Welspun Gujarat won orders worth INR 30 bn from India and overseas.
Indices performance
| CURRENT | PREV. | %CHANGE | ||||
| S&P CNX NIFTY |
4,049.00 |
4,162.20 |
-2.72% |
|||
| CNX NIFTY JUNIOR |
6,446.75 |
6,691.40 |
-3.66% |
|||
| CNX IT |
3,839.50 |
4,104.15 |
-6.45% |
|||
| BANK NIFTY |
5,240.70 |
5,339.00 |
-1.84% |
|||
| CNX 100 |
3,850.80 |
3,963.75 |
-2.85% |
|||
| S&P CNX DEFTY |
3,274.80 |
3,346.20 |
-2.13% |
|||
| S&P CNX 500 |
3,232.20 |
3,323.65 |
-2.75% |
|||
| CNX MIDCAP |
5,236.70 |
5,361.20 |
-2.32% |
|||
| NIFTY MIDCAP 50 |
1,985.85 |
2,042.40 |
-2.77% |
|||
| Top Gainers | ||||||
| Symbol | Open | High | Low | Last Price | Prev. Close | % Change |
| NATIONALUM |
363.10 |
384.90 |
362.00 |
380.70 |
360.45 |
5.62 |
| STER |
650.00 |
681.20 |
650.00 |
661.15 |
651.15 |
1.54 |
| CAIRN |
245.00 |
252.70 |
242.55 |
245.55 |
242.25 |
1.36 |
| HINDALCO |
153.10 |
159.90 |
152.00 |
155.20 |
153.15 |
1.34 |
| HDFCBANK |
1,045.00 |
1,075.00 |
1,035.10 |
1,067.80 |
1,054.20 |
1.29 |
| Top Losers | ||||||
| Symbol | Open | High | Low | Last Price | Prev. Close | % Change |
| BPCL |
275.00 |
278.00 |
253.10 |
255.75 |
279.30 |
(8.43) |
| TCS |
917.00 |
943.00 |
785.40 |
798.60 |
868.40 |
(8.04) |
| SATYAMCOMP |
485.55 |
489.00 |
439.25 |
443.50 |
477.90 |
(7.20) |
| INFOSYSTCH |
1,845.00 |
1,874.65 |
1,641.50 |
1,676.85 |
1,805.25 |
(7.11) |
| LT |
2,530.00 |
2,585.00 |
2,340.00 |
2,354.15 |
2,532.40 |
(7.04) |
No comments yet.