Tuesday, July 8, 2008

Post-Market Commentary- Tuesday, July 08, 2008

Sensex ends 176 points lower; Wipro tumbles 4.5%


The Sensex opened with a downward gap of 233 points at 13,293. While the index hit a day's high of 13,452, it could not sustain higher levels. The political uncertainty and the Left parties' decision to withdraw support weighed heavily on the markets and weak global markets.

The index went as low as 13,050 to recover from those levels and finally settled at 13,350 points, 176 points lower than Monday's close.

The market breadth was negative - out of 2,655 stocks traded, 1,180 advanced and 1,394 declined today.

The NSE Nifty closed 41 points lower at 3,989. Nifty ends below 4,000

INDEX MOVERS...

ACC was the largest gainer at 6.2% in the Sensex at Rs 527. Mahindra & Mahindra gained 3.9% to Rs 516, while NTPC advanced 3.6% to Rs 161.

SBI gained 2.8% to Rs 1,204. Bhel and Hindalco gained 2.2% to Rs 1,498 and Rs 145 respectively.

Larsen & Toubro was up 1.5% to Rs 2,400.

...AND THE SHAKERS

Wipro tumbled over 4.5% to Rs 420, while Tata Motors lost 4.1% to Rs 376.50. Infosys and Jaiprakash Associates lost over 3.5% each to end at Rs 1,735 and Rs 154.

ITC and Grasim also lost 3.4% and 3.2% to Rs 171.50 and Rs 1,671 respectively.

Reliance Infra lost 2.8% to Rs 757. Satyam and Reliance Industries were also down 2.5% each to Rs 470 and Rs 1,978 respectively.

VALUE & VOLUME TOPPERS

Reliance Capital topped the value chart with a turnover of Rs 425.08 crore followed by Reliance Industries (Rs 365.65 crore), Reliance Infrastructure (Rs 230.90 crore), Reliance Natural Resources (Rs 186.70 crore) and Reliance Petroleum (Rs 163.90 crore).

Reliance Natural Resources led the volume chart with trades of around 2.84 crore shares followed by IFCI (2.47 crore), First Win (1.35 crore), Reliance Petroleum (1 crore) and Chambal Fertilisers (0.92 crore).


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