Markets end flat; CG, banks, metal stocks up, IT, realty down news
08 August 2008

Markets ended flat after witnessing choppiness in afternoon session. Good buying interest was seen in capital goods, metal, banking and power stocks while selling in technology, realty and select FMCG stocks. Frontline indices had opened on a flat note and remained weak till 2 pm. Since then both indices bounced back and turned into a bit of volatility.

Overall it was a dull session. Lack of buying interest was seen at FII desk. Reliance Industries, Reliance Petroleum and Cairn India were remained under selling pressure. All eyes are on Sebi board meet next week. Even activity in midcap and small cap stocks were relatively lower in todays trade.

Sensex moved in a range of 15,228.82 and 14,888.12. It ended with a gain of 50.57 points or 0.33% at 15,167.82. Nifty touched an intraday high of 4546.35 and lost of 4464, respectively. It closed at 4529.50, up 5.65 points or 0.12%. BSE Midcap and Small Cap indices finished flat.

Decline in crude oil price in international market was also one of reason that market could get support. Crude was trading at USD 117.56 per barrel on the  NYMEX.

Total turnover traded by markets was also lower at Rs 65,039.74 crore. This includes Rs 12,516.90 crore from NSE Cash segment, Rs 47,121.54 crore from NSE F&O and the balance Rs 5,401.30 crore from BSE Cash segment.

On the weekly basis, Nifty went up by 2.5% and Sensex up by 3.3%. Amongst sectoral indices, BSE Bankex shot up by 9.5% followed by Auto with 8.5% and Realty with gain of 5.8%. Frontliners like Maruti rose 21%, HDFC Bank up 16% and ICICI Bank up 13%.

Amongst frontliners, Sterlite Ind shot up 4.10%, ONGC 3.99%, Cipla 3.46%, ICICI Bank 2.88%, L&T 2.76% and HDFC Bank 2.11% while Cairn India declined 5.13%, BPCL -3.70%, Siemens -3.33%, Ambuja Cements -3.23%, Grasim -2.48%, Wipro -2.41%, Infosys Tech -2.41%, Jaiprakash Associates -2.08% and Satyam -1.81%.

Metal stocks were on buyers radar in today's trade, which includes Sesa Goa, Sterlite Ind, Hind Zinc, Hindalco, Jindal Saw, Tata Steel and Ispat Industries. Index rose 212.85 points or 1.65% at 13,098.82.

Banking and capital goods stocks had under selling pressure since morning but in late trade, these stocks shown smart recovery. Bankex closed with a gain of 111.88 points or 1.54% at 7,395.03 and Capital Goods was up by 170.98 points or 1.38% at 12,565.88.

Amongst banking stocks, Kotak Mahindra, ICICI Bank, Union Bank, IndusInd Bank, HDFC Bank and Yes Bank rose 2-6%.

Capital goods stocks like L&T, Jyoti Structure, AIA Engineering, Areva T&D, Punj Lloyd and ABB gained 1.5-2.8%.

Healthcare Index gained marginally by 26.30 points or 0.62% at 4,296.17 due to buying in Ipca Labs, Bilcare, Divis Labs, Cipla, Dr Reddys Labs, Opto Circuits, Aventis Pharma and Dishman Pharma, which were up around 2-5%.

Power stocks like Torrent Power, Suzlon Energy, Reliance Power, GMR Infra, Tata Power and Reliance Infra also charged up. Index rose 0.54% at 2,701.10.

However, technology and realty stocks witnessed selling pressure through the day. IT Index slipped 69.01 points or 1.74% at 3,885.86 due to selling in Infosys, Wipro, Satyam, Rolta and TCS lost 1-2.5%.

Realty stocks like Index fell 72 points or 1.29% at 5,508.88. Puravankara Proj, Ansal Propertie, Phoenix Mills, Indiabulls Real, Unitech and Peninsula Land tumbled 1.5-4.5%.

FMCG Index lost 0.27% at 2,185.13. GlaxoSmith Cons, Britannia, Nestle, United Spirits and ITC fell 0.5-2%.

Oil & Gas Index lost 0.14% at 10,139.10 as selling is seen in Cairn India, BPCL, HPCL, IOC, Aban Offshore, Reliance Ind and Reliance Petro. However, ONGC, RNRL, Essar Oil and GAIL have gained.

Most active counters on the bourses were Reliance Ind, ICICI Bank, L&T and SBI.

Market breadth was mixed; about 1446 shares have advanced while 1518 shares declined. Nearly 196 shares remained unchanged.

Asian markets ended mixed. Shanghai fell 4.5%, Hang Seng and Straits Times down nearly 1% each and Jakarta Composite down 0.14%. However, Nikkei and Kospi gained 0.3% each. Taiwan Weighted rose 2.63%.


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Markets end flat; CG, banks, metal stocks up, IT, realty down