Market in a nutshell
- Contrary to the drastic declines witnessed in the past few sessions, local bourses commenced the day on an exuberant note. Throughout the session, the broader indices traded within a narrow range and managed to sustain at the high levels. Sensex closed at 15,185 (up 296 points) while Nifty closed at 4,524 (up 74 points).
- Nifty June Futures were trading at a discount of 20 points to spot at the beginning of the session, which increased to 30 points as the session progressed.
- BSE Realty Index advanced the most up 3% to 5,804, with DLF rallying 6.5% to INR 511. BSE Bankex climbed 2% to 7,018, with HDFC Bank gaining 5% to INR 1,185.
- Market breadth was positive with an Advance: Decline Ratio of 3:1. Bombay Dyeing was up 9% to INR 723, while Air Deccan surged 7% to INR 104.
- Cash volumes were at INR 185,089 mn (NSE+BSE) as against a 5 DMA of INR 196,265 mn. F&O volumes were at INR 457,759 mn as against a 5 DMA of INR 509,023 mn.
- Among other key market developments, Ranbaxy has announced that Daiichi Sankyo would be buying ~35% stake held by Ranbaxy’s promoters for a price of INR 737 per share, with the acquisition expected to be completed by March 2009. As a result of this Daiichi would make an open offer for 20% additional stake. This stake sale will also trigger an open offer in Zenotech Labs in which Ranbaxy has a stake of 44%.
Eye Catchers
- Shipping Corporation was up 7% to INR 256 with volumes of 933,103 (up 340%).
Market News
- Rupee strengthened to trade at INR 42.85, due to increased dollar supplies.
- Nymex crude eased further to trade at $133.62/ bbl. Base metals were trading on a weak note, with zinc losing 2.5%.
Indices performance
| CURRENT | PREV. | %CHANGE | ||||
| S&P CNX NIFTY |
4,523.60 |
4,449.80 |
1.66% |
|||
| CNX NIFTY JUNIOR |
7,376.95 |
7,225.75 |
2.09% |
|||
| CNX IT |
4,303.60 |
4,249.90 |
1.26% |
|||
| BANK NIFTY |
5,971.25 |
5,814.35 |
2.70% |
|||
| CNX 100 |
4,316.70 |
4,243.90 |
1.72% |
|||
| S&P CNX DEFTY |
3,651.10 |
3,600.80 |
1.40% |
|||
| S&P CNX 500 |
3,632.35 |
3,570.60 |
1.73% |
|||
| CNX MIDCAP |
6,058.30 |
5,969.90 |
1.48% |
|||
| NIFTY MIDCAP 50 |
2,320.25 |
2,280.20 |
1.76% |
|||
| Top Gainers | ||||||
| Symbol | Open | High | Low | Last Price | Prev. Close | % Change |
| AMBUJACEM |
85.00 |
89.50 |
83.50 |
88.25 |
82.35 |
7.16 |
| BHEL |
1,408.50 |
1,510.00 |
1,395.00 |
1,481.85 |
1,383.50 |
7.11 |
| DLF |
475.10 |
522.30 |
475.10 |
512.15 |
480.00 |
6.70 |
| HEROHONDA |
766.05 |
835.00 |
762.65 |
810.25 |
765.40 |
5.86 |
| HDFCBANK |
1,145.00 |
1,209.75 |
1,122.30 |
1,196.35 |
1,132.35 |
5.65 |
| Top Losers | ||||||
| Symbol | Open | High | Low | Last Price | Prev. Close | % Change |
| BPCL |
287.80 |
291.00 |
270.90 |
273.25 |
284.60 |
(3.99) |
| SIEMENS |
495.00 |
499.80 |
476.10 |
480.00 |
492.15 |
(2.47) |
| IDEA |
101.00 |
102.50 |
96.55 |
97.10 |
99.55 |
(2.46) |
| SUNPHARMA |
1,478.00 |
1,500.00 |
1,431.05 |
1,443.75 |
1,469.20 |
(1.73) |
| CAIRN |
292.80 |
295.00 |
286.00 |
289.85 |
294.70 |
(1.65) |
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