Market Update 3/9/2007

It was yet another extremely volatile session wherein the markets opened in green but drifted down in red on the back of selling pressure witnessed across the sectors.The markets witnessed heavy gyration and swung between red and green in the first half of day today but traded under deep pressure for most of the time in the second half on account of sustained selling. All the BSE benchmark indices shut shop in red except consumer durables index. Cement, FMCG, oil & gas and auto stocks were the hardest hit stocks today. Govt.'s decision not to hike cement prices for one year hammered the cement stocks during the later trade.

Sensex ended down 164.36 points or 1.26% at 12884.99, and the Nifty closed down 43.65 points or 1.16% at 3718. About 1066 shares have advanced, 1287 shares declined, and 60 shares are unchanged.

BSE Auto index ended down 64.37 points or 1.31% at 4,843.65. M&M, Cummins, Escorts and Bharat Forge declined most.

BSE Bankex closed down 15 points or 0.23% at 6,451.24. Kotak Mahindra, Bank of India, Bank of Baroda, PNB and SBI were top losers.

BSE Cap Goods index ended down 128.52 points or 1.47% at 8,602.30. HEL, Praj Industries, L&T, Aban Offshore and HEG were top losers.

BSE FMCG index closed down 28.10 points or 1.64% at 1,688.87. ITC, Dabur India, Britannia, Shaw Wallace and HLL declined most.

BSE Pharma index ended down 35.06 points or 1% at 3,462.78. Matrix Lab, Lupin, Ipca Labs and Aurobindo Pharma were the worst hit.

BSE IT index closed down 47.47 points or 0.95% at 4,974.21. Moser Baer, Wipro, Satyam, Patni Computer and HCL Info declined most.

BSE Metal index was down 40.59 points or 0.50% at 8,092.09. Hindalco, Guj NRE Coke, Sterlite Ind and Jindal Steel were among losers.

BSE Oil & Gas ended down 67.09 points or 1.08% at 6,118.47. GAIL, BPCL, Reliance Natural, IOC and Reliance were the top losers.

Markets Today:

Markets end in the red; selling witnesses across FMCG, Capital Good stocks
Sensex down 1.26% or 164.36 points at 12885; Nifty down 1.16% or 43.65 points at 3718
Cement stocks in focus; govt imposes price control for next 1 year
Grasim down 7.11%, ACC down 6.24%, Gujarat Ambuja down 2.5%
BSE FMCG Index down 1.64%; ITC down 3.63%, Dabur India down 2.2%
BSE Capital Goods Index down 1.47%; BHEL down 3.53%, Suzlon down 3.11%, L&T down 2.6%
Index Losers; MTNL down 5.26%, Cipla down 3.13%, Rel Comm down 2.7%
CNX Midcap Index down 0.52%; dragged by mid cap cement stocks
India Cement down 8.26%, Mysore Cement down 9.8%, Shree Cement down 9.5%
BSE Small-cap Index ends almost flat
Recent Listings; Indus Fila up 8.5%, Evinix Accessories up 3.77%
New Listings: Idea Cellular closes at Rs 85.7 Vs listing price of Rs 86 (Issue Price Rs 75)
New Listings: Euro Ceramics closes at Rs 119.15 Vs listing price of Rs 150 (Issue Price Rs 165)
New Listings: Mudra Lifestyle closes at Rs 63.95 Vs listing price of Rs 79 (Issue Price Rs 90)
New Listings: Vijayeswari Textiles closes at Rs 68.95 Vs listing price of Rs 90(Issue Price Rs 100)
Turnover: Total market turnover today was at Rs 48901.15 crore

Market this week:

Markets end almost flat amid heavy volatile trade during the week
Sensex ends down flat at 12885; swings nearly 800 points during the week
Nifty ends down flat at 3718
Cement stocks in focus; govt imposes price control for next 1 year
ACC down 8.5%, India Cement down 9%, Shree Cem Down 13.5%
BSE FMCG Index down 4%; ITC down 7.5%, Dabur India down 7.5%
BSE Metal Index down 4%; Hindalco down 6.8%, SAIL, Tata Steel down over 2%
BSE Auto Index down 3.5%; M&M down 4.75%, Maruti down 5.5%, Bajaj Auto down 2.2%
Telecom stocks gain during the week: Bharti Airtel up 6.2%, MTNL up 5.40%
IPCL up 4.7%; RIL board to meet on Mar 10 to merge IPCL with itself
CNX Midcap Index down 4%, BSE Small Cap Index Down 6%
Midcap Losers: SRF Down 19%, Parsvnath down 12.20%, IFCI down 11%