Saturday, May 10, 2008
Market 9th May 2008

Market in a nutshell

  • Domestic markets opened in the red continuing yesterday’s trend and exhibited weakness throughout the session. Weakening trends in the Asian markets and further rise in the inflation rate dampened the sentiment.Power, software and telecom stocks traded firm for a while, which later succumbed to the prevailing weakness. Banking and cement majors bore the brunt of selling. Sensex closed with a loss of 402 points at16,679 while Nifty closed 109 points lower at 4,972.
  • BSE Bankex declined 2.8% to 8,512 as a result of profit booking. Kotak Bank lost 5.8% to INR 737. BSE Realty Index fell 3% to 7,891 with HDIL plunging 8% to INR 726.
  • Nifty May Futures were trading at a premium of 10-12 points to spot for major part of the session, which reduced to parity during the last half hour.
  • Market breadth was negative with an Advance: Decline Ratio of 0.2:1. Arvind Mills and Essar Oil declined close to 10% each to INR 50 and INR 257 respectively.
  • Cash volumes were at INR 138,860 mn (NSE) as against a 5 DMA of INR 143,843 mn. F&O volumes were low at INR 349,510 mn as against a 5 DMA of INR 331,470 mn.

Eye Catchers

  • Suzlon lost 3% to INR 271 with volumes of 20,633,128 (up 300%).

Market News

  • Rupee recovered a bit to trade at INR 41.62 a dollar.
  • Nymex crude surged further to trade at $125/ bbl. Base metals were trading on a soft note, with lead leading the pack of losers down 4%.
  • The WPI based inflation climbed to 7.61% for the week ended April 26 as against 7.57% in the previous week with strong food prices.
  • Infotech Enterprises bagged a 3 yr GIS/Data Management contract from Powercor Australia and CitiPower Ltd.

Indices Performance

CURRENT PREV. %CHANGE      
S&P CNX NIFTY 4,982.60 5,081.70

-1.95%

      
CNX NIFTY JUNIOR 8,661.00 8,964.65

-3.39%

      
CNX IT 4,334.45 4,407.45

-1.66%

      
BANK NIFTY 7,299.00 7,518.80

-2.92%

      
CNX 100 4,796.55 4,902.25

-2.16%

      
S&P CNX DEFTY 4,149.95 4,222.55

-1.72%

      
S&P CNX 500 4,064.10 4,152.30

-2.12%

      
CNX MIDCAP 6,782.45 6,959.15

-2.54%

      
NIFTY MIDCAP 50 2,615.55 2,709.55

-3.47%

      
             
Top Gainers            
Symbol Open High Low Last Price Prev. Close % Change
ITC 215.00 220.00 213.30 218.55 215.00 1.65
BHARTIARTL 802.00 860.00 802.00 841.80 829.20 1.52
WIPRO 500.00 504.50 486.25 500.95 496.70 0.86
TATAPOWER 1,350.00 1,374.00 1,320.00 1,352.00 1,341.95 0.75
SATYAMCOMP 470.00 483.55 464.15 474.60 471.70 0.61
             
Top Losers            
Symbol Open High Low Last Price Prev. Close % Change
RPL 195.20 196.60 179.50 181.00 196.85 (8.05)
RELIANCE 2,665.50 2,673.65 2,510.00 2,528.40 2,667.25 (5.21)
PNB 530.00 532.00 500.10 506.20 532.15 (4.88)
DRREDDY 650.00 653.75 627.00 629.45 661.55 (4.85)
REL 1,355.55 1,397.70 1,311.15 1,332.20 1,399.75 (4.83)


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