NSE Online Trading :: Market Commentary

Tame ending to a highly volatile session

After witnessing a swing of 299 points, the Sensex ended lower at 15,666 on selective selling.
The market maintained a cautious trend for the second straight session, as the Sensex eased sharply at close on selective selling. However, the market was extremely volatile, as stocks gyrated sharply leading to a swing of 299 points during intra-day trades. After resuming 36 points lower at 15,755, the Sensex dropped another 100 points in early trades on sustained selling to touch the day's low of 15,655. Languishing in negative territory thereafter in the first half, the Sensex steadily erased its losses and rebounded into positive territory in the afternoon trades to edge past the 15,950 mark and touch the intra-day high of 15,954. However, it failed to hold on to its steady gains and lost 95 points to close at 15,695, while the Nifty ended 14 points lower at 4,733.

NSE Trading Market Movers & Shakers

* Satyam Computer ended a bit lower despite wining two prestigious Shared Services Excellence awards from the International Quality and Productivity Council.

* Financial Technologies India eased marginally in spite of acquiring a 90% stake in ICX Platform (Pty) Ltd, a technology company situated at Johannesburg, South Africa.


Dragging the Sensex, ICICI Bank lost 4.25% at Rs800.95, Ranbaxy Laboratories dropped 4.20% at Rs450.65, HDFC Bank fell 3.67% at Rs1,325.55 and Jaiprakash Associates declined 3.07% at Rs212.80. Bharti Airtel, HUL, Reliance Coomunications and SBI were down nearly 2% each. However, Reliance Energy advanced 6.50% at Rs1,253.35, TCS scaled up 2.75% at Rs900.75, RIL added 2.05% at Rs2,467.70, L&T gained 1.55% at Rs2,678.30, Ambuja Cements jumped 1.50% at Rs122 and Tata Steel was up nearly 1% at Rs685.90.

The breadth of the market was positive. Of the 2,730 stocks traded on the BSE, 1,715 stocks advanced, 948 stocks declined and 67 stocks ended unchanged. Of the 13 sectoral indices trading on the BSE, five indices ended in green, while eight slipped in red. The BSE Oil & Gas index was the major performer on the upside and gained 1.47% at 10,727, while the BSE Metal index was up around 0.55% at 13,855.

The market, which closed on a subdued note, Oil & Gas stocks performed exceptionally well. Cairn India surged 5.74% at Rs242.15 and RPL shot up by 3.17% at Rs175.50. Essar Oil, RIL, Aban Offshore, RNRL gained over 1-3% each.

Over 2.04 crore Reliance Petroleum shares changed hands on the BSE followed by Sita Shree Food Products (1.91 crore shares), RNRL (1.65 crore shares), Orchid Chemical (0.98 crore shares) and IFCI (0.95 crore shares).

NSE, BSE Post-Market Report : April 01, 2008

Index Performance Index Sensex Nifty Open 15,771.72 4,735.65 High 15,834.05 4,800.75 Low 15,297.96 4,628.75 Today's Cls 15,626.62 4,739.55 Prev Cls 15,644.44 4,734.50 Change -17.82 5.05 % Change -0.11 0.11 Market Indicators Top Movers (Group A) Company Price (Rs) % chg Gainers Spice Tele 30.75 10.81 MRPL 85.85 10.28 Essar Shipping 155.55 7.20 RPL 167.10 6.94 Suzlon Energy 280.75 6.51 Losers BHEL 1,891.85 -8.01 Crompton Greaves 253.90 -7.72 Axis Bank 721.10 -7.69 Sesa Goa 2,923.60 -6.60 M & M 650.30 -6.52 Market Statistics - BSE NSE Advances 1,728 670 Declines 920 509 Unchanged 47 19 Volume(Nos) 24.02cr 38.99cr

Market ends flat After gyrating 536 points during intra-day trades, the Sensex ended with marginal losses on selective buying. The market displayed volatility and witnessed fluctuating trend during the intra-day trades before selective buying towards the fag end saw the Sensex end with modest gains. Although the Sensex started on a firm note at 15,772, the market was choppy for a while before a strong bout of buying support lifted the index above the 15,800 mark to an intra-day high of 15,834. However, the gains faded by mid-morning trades on resumption of selling, with the index falling sharply in the afternoon to touch the day's low of 15,298. The Sensex thereafter steadily erased its losses and finally ended the session with a small loss of 18 points at 15,627, while the Nifty added five points to close at 4,740. Movers & Shakers Provogue India rose on reports that Triangle India Fund is to invest Rs457 crore in Provogue India’s subsidiary. Sunil Hitech flared up on reports that the company has bagged order worth Rs100.68 crore. Dr Reddy’s Laboratories inched marginally higher on a report that it has entered into a definitive agreement with Dow Chemical Company. The market breadth was positive. Of the 2,695 stocks traded on the Bombay Stock Exchange (BSE) 1,728 stocks advanced, 920 stocks declined and 47 stocks ended unchanged. On sectoral front, the BSE Oil & Gas Index was the major gainer and moved up by 3.36% at 10,354, while the BSE FMCG and the BSE CD Index were up around 0-2% each. However, the BSE CG Index, the BSE Metal Index, the BSE Auto Index, the BSE Realty Index and the BSE Power Index were the main laggards. The remaining indices were marginally down. Buying in select blue chips helped the index end in positive territory. Among the gainers, HLL gained nearly 4.31% at Rs238.55, RIL added 3.56% at Rs2,345.10, Reliance Energy jumped 2.97% at Rs1,288, TCS jumped 2.95% at Rs834.80 and ONGC moved up by 2.88% at Rs1,009.65. Reliance Communications, ITC, Hindalco, SBI and Ranbaxy Laboratories ended with steady gains. Selling was witnessed in several frontline counters. BHEL shed 8.01% at Rs1,891.85, M&M dropped 6.52% at Rs650.30, Larsen & Toubro declined 4.30% at Rs2,894.75, Wipro fell by 3.83% at Rs409 and Tisco lost 3.71% at Rs667.40 while DLF, Bharti Airtel, ICICI Bank, Maruti and HDFC ended with steady losses. Oil & Gas stocks were in the limelight. RPL rose 6.94% at Rs167.10, Essar Oil advanced 6.17% at Rs216.65, RIL jumped 3.56% at Rs2,345 and BPCL added 3.38% at Rs425.15. ONGC, Cairn India, RNRL, Indian Oil and HPCL were higher by over 1% each. Over 1.30 crore RPL shares changed hands on the BSE followed by RNRL (1.22 crore shares), Ispat Industries (89.42 lakh shares), Bellary Steel (69.54 lakh shares) and Essar Oil (65.22 lakh shares).

European Indices at 16:24 IST on 01-04-2008 Index Level Change (pts) Change (%) FTSE 100 Index 5743.60 41.50 0.73 CAC 40 Index 4771.56 64.49 1.37 DAX Index 6629.40 94.43 1.44 Asian Indices at close on 01-04-2008 Index Level Change (pts) Change (%) Nikkei 225 12656.42 130.88 1.04 Hang Seng Index 23137.46 288.26 1.26 Kospi Index 1702.25 -1.74 -0.10 Straits Times Index 3046.54 39.18 1.30 Jakarta Composite Index 2393.25 -54.04 -2.21