Wednesday, July 23, 2008
Market 23rd July 2008, markets powered ahead on the back of strong global cues, political stability and softening crude prices

 Market in a nutshell

  • It was a sparkling session as markets powered ahead on the back of strong global cues, political stability and softening crude prices. Heavy buying was seen in heavyweights across all sectors which propelled the Sensex to finally close at 14,942 (up 838 points) while Nifty ended the day at 4,477 (up 237 points).
  • BSE Midcap Index advanced 5% to 5,616, while BSE Smallcap Index was up 4% to 6,813.
  • Nifty July Futures were trading at a premium of 10-15 points to spot for major part of the session.
  • BSE Bankex was the star performer shooting 10% to 7,292, with Yes Bank up 17% to INR 140 and ICICI Bank up 12% to INR 738. BSE Capital Goods Index surged 8% to 12,340, with BHEL up 11% to INR 1,772.
  • Market breadth was extremely positive with an Advance: Decline Ratio of 9:1. RNRL rocketed 23% to INR 90, while Reliance Power gained 20% to INR 171.
  • Cash volumes were high at INR 278,851 mn (NSE+BSE) as against a 5 DMA of INR 170,109 mn. F&O volumes were also strong at INR 680,107 mn as against a 5 DMA of INR 485,753 mn.

Eye Catchers

  • Strides Arcolab gained 16% to INR 172 with volumes of 910,052 (up 770%).
  • Cummins advanced 14% to INR 280 with volumes of 517,421 (up 1000%).

Market News

  • Rupee strengthened to trade at INR 42.19 against the dollar.
  • Nymex crude eased to trade at $126.45/bbl. Base metals were trading on a strong note with lead up 4%.

Indices performance

CURRENT PREV. %CHANGE
S&P CNX NIFTY

       4,476.80

    4,240.10

5.58%
CNX NIFTY JUNIOR

       7,164.20

    6,648.65

7.75%
CNX IT

       3,800.45

    3,690.55

2.98%
BANK NIFTY

       6,343.15

    5,793.70

9.48%
CNX 100

       4,260.60

    4,024.05

5.88%
S&P CNX DEFTY

       3,670.60

    3,446.80

6.49%
S&P CNX 500

       3,550.80

    3,355.90

5.81%
CNX MIDCAP

       5,600.15

    5,277.50

6.11%
NIFTY MIDCAP 50

       2,144.25

    1,999.45

7.24%
Top Gainers
Symbol Open High Low Last Price Prev. Close % Change
RCOM

          482.00

       530.85

         482.00

         525.70

      467.60

       12.43
ICICIBANK

          700.00

       748.00

         692.25

         738.70

      661.70

       11.64
TATACOMM

          432.00

       479.90

         427.05

         466.25

      418.35

       11.45
SIEMENS

          525.00

       562.00

         525.00

         556.45

      499.75

       11.35
BHEL

       1,680.00

    1,820.00

      1,661.25

      1,773.35

   1,597.40

       11.01
Top Losers
Symbol Open High Low Last Price Prev. Close % Change
CAIRN

          222.00

       230.10

         219.00

         220.45

      226.00

       (2.46)
CIPLA

          240.10

       244.95

         230.50

         232.65

      237.80

       (2.17)
HINDUNILVR

          235.00

       242.00

         227.20

         230.85

      232.70

       (0.80)


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