Market Commentary

	No. of  Scrips	Value (Crs.)
Advances	444	7886
Declines	758	8462
Unchanged	38	60
Total	1240	16408

Market Activity: Share indices were up around 0.5% but off the 1% high hit at open. Trade was choppy on expiry of April futures contract. Firm overnight close in the U.S. market helped sentiment, but key Asian markets were trading off highs today. 

At 10.10AM, Sensex was at 16785.80, up 87.76 points or 0.5%. Nifty was at 5048.75, up 24.60 points or 0.5%. 

SAIL was up 2% on value buying after falling 6% in the previous session. Telecom shares were top gainers on Nifty. Bharti Airtel and Idea Cellular rose 2% each. Housing Development Finance Corp, up 2%, was the other major gainer. Hindalco Industries and Tata Steel fell 1% each, and were the worst hit on Nifty. ACC was also down 1% ahead of its Jan-Mar earnings. 

In the mid trading session, indices were trading off highs, with Nifty erasing gains, weighed down by weakness in European markets. At 1.59PM, Sensex was at 16718.05, up 20.01 points, or 0.1%, after briefly slipping into red. Nifty was at 5013.80, down 8.90 points, or 0.2%. Most bank shares were up, with HDFC Bank rising 1% ahead of its Jan-Mar earnings due later today. Tata Power, up nearly 3%, was the top Nifty gainer. Maruti Suzuki India, down 3%, was the worst hit on Nifty, after its Jan-Mar net profit fell much below estimates. ACC shares were down 2%, after moving slightly off lows, as it announced a Jan-Mar net profit of Rs 3.57 bn, above analysts’ estimates of Rs 3.06 bn. 

Nifty ended below the 5000-mark for the first time in four sessions, down 0.5%. Sensex closed flat. The session was volatile on expiry of April futures.  Sensex was at 16721.08, up 23.04 points. Nifty closed at 4999.85, down 22.95 points. ACC ended down 6% after its Jan-Mar earnings, while NALCO and Sterlite Industries closed nearly 4% lower each. Hero Honda, up 4%, was the top Nifty gainer ahead of its Jan-Mar earnings. Tata Power gained nearly 3% and Infosys Technologies was up over 2%. 

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Market Commentary  

	No. of  Scrips	Value (Crs.)
Advances	676	9761
Declines	546	5721
Unchanged	23	33
Total	1245	15515

Market Activity: Indices were down around 0.2% tracking the fall in overseas markets, but off the 1% low hit at the open. 

At 10.10AM, Sensex was at 16710.47, down 28.86 points or 0.2%. Nifty was at 5030.75, down 6.40 points or 0.1%.  

Reliance Industries was flat compared with 1% decline earlier. The company Monday reported Jan-Mar net profit of Rs 39.1 bn in line with market estimates. TCS was down over 7% as the company’s Jan-Mar net profit was below market expectations. The stock was the worst hit on Nifty. Satyam Computer Services fell 4%, while Wipro was down 3%. Kiri Dyes and Chemicals listed at Rs 184 on NSE, against an issue price of Rs 150. The stock was trading at Rs 190. 

In the mid trading session, indices rose slightly, as key European markets were coming off lows. Earlier market was down 1% on weak Asian cues. Trade was choppy as investors rolled over positions ahead of expiry of the April futures contract Thursday. At 1.10PM, Sensex was at 16780.04, up 40.71 points, or 0.3%. Nifty was at 5052.50, up 15.60 points, or 0.3%. NALCO and Unitech, up 4% each, were top Nifty gainers. DLF, Zee Entertainment Enterprises, and BHEL gained 3% each. The small and midcap indices were, however, still holding on to marginal gains. Coromandel Fertilizers was up over 5% on Jan-Mar earnings. Technology shares extended fall from earlier in the session. Tata Consultancy Services was down 10% as Jan-Mar earnings were below estimates. HCL Technologies and Satyam Computer Services were down around 5% each.  

Indices ended up around 0.3%, but off the 1% low hit earlier in the session. Sentiment was aided as key European markets recouped losses made in early trades. Sensex provisionally ended at 16783.87, up 44.54 points. Nifty closed at 5049.30, up 12.30 points. Technology shares were the worst hit on Nifty as investors took profits after Tata Consultancy Services Monday reported below-expected Jan-Mar earnings. Tata Consultancy Services, down 11%, was the worst hit on Nifty. Satyam Computer Services and HCL Technologies were up around 5% each. BHEL, up 6%, Unitech, and Idea Cellular, up 5% each, were other major Nifty gainers. Debutante Kiri Dyes and Chemicals ended at Rs 157 after listing at Rs 184 against an issue of Rs 150.      

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Market Commentary
 

	No. of  Scrips	Value (Crs.)
Advances	979	10960
Declines	253	2832
Unchanged	11	23
Total	1243	13815

Market Activity: Share indices rose nearly 2% as firm cues from overseas markets helped investors shrug off Thursday’s 50-basis-point hike in banks’ cash reserve ratio. 

At 10.15AM, Sensex was at 16765.49, up 284.29 points or 1.7%. Nifty was at 5043.90, up 85.85 points or 1.7%. 

All Sensex and Nifty shares rose.  Interest rate sensitive sectors such as banking, realty and auto were resilient to the CRR hike. Housing Development Finance Corp gained 4%, while DLF was up 2%. Technology shares extended gained after Wipro and Satyam Computer Services‘ Jan-Mar earnings. Wipro was up 4% and Tata Consultancy Services gained 3%. Satyam Computer was up over 1%. Titagarh Wagons listed at its issue price of Rs 540 on NSE. The stock was trading at Rs 69.

In the mid trading session, indices were up over 1% but off the 2% high made earlier in the session on some profit taking. At 1.15PM, Sensex was at 16676.62, up 195.42 points, or 1.2%. Nifty was at 5024.45, up 65.80 points, or 1.3%. Firm trend in Asian markets and optimism ahead of Reliance Industries’ Jan-Mar earnings helped sentiment here. However, most key European markets opened slightly weak, with the exception of FTSE 100 that was trading up 0.3%. Shares of metal and capital goods companies were top gainers on Nifty. Tata Steel was up 5.5% and Larsen & Toubro gained over 2%, while ABB was up 1%. Technology shares retreated as the rupee rose against the dollar. Satyam Computer Services and Infosys Technologies fell 1% each. Zee Entertainment Enterprises, down 2.5%, and GAIL, down 1%, were other major Nifty laggards.   

Share indices ended nearly 2% up in line with other key Asian markets, with Nifty ending above 5000 for the first time since the Union Budget on Feb 29. Market did not react to the 50-basis-point hike in banks’ cash reserve ratio as it was factored into share prices. Sensex ended at 16739.33, up 258.13 points. Nifty ended at 5037.00, up 78.60 points. Capital goods and bank shares were top gainers on Nifty. ABB ended up 5% and HDFC Bank was up 4%. Zee Entertainment Enterprises down 4%, and Satyam Computer Services down 2%, were the worst hit on Nifty.    

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Market Commentary  
 

	No. of  Scrips	Value (Crs.)
Advances	852	12120
Declines	268	3418
Unchanged	22	7
Total	1242	15545

Market Activity: Key share indices were up over 1% on firm cues from overseas markets.

 

At 10.14AM, Sensex was at 16448.48, up 204.29 or 1.2% from Wednesday’s close. Nifty was at 4938.35, up 51.05 points or 1.1%.

 

Technology and bank shares led gains, with Satyam Computer Services up 3.5%, top Nifty gainer. HDFC Bank and ICICI Bank were up 2% and 1%, respectively. Mindtree Consulting surged 15% after it Wednesday declared a bullish earnings outlook for 2008-09 (Apr-Mar). Orchid Chemicals & Pharmaceuticals fell 1% on profit sales after having risen 39% in the past three sessions, Hero Honda Motors, down 1%, was the sole laggard on Nifty.

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Market Commentary 
 

	No. of  Scrips	Value (Crs.)
Advances	836	10382
Declines	379	4931
Unchanged	22	1
Total	1237	15314

Market Activity: Share indices rose over 1% at the open helped by positive U.S. and Asian markets.  

At 10.10AM, Sensex was at 16356.85, up 203.19 or 1.3%. Nifty was at 4935.45, up 55.80 points or 1.1%. 

All BSE sector indices gained, led by technology and pharmaceutical shares. HCL Technologies, up 5%, led the CNX IT index up 3% after its consolidated net profit of Rs 3.42 bn beat analysts’ estimates of Rs 3.16 bn. The stock was the top Nifty gainer. Ranbaxy Laboratories rose 2%, while Dr. Reddy’s Laboratories was up 1%. Hindustan Unilever, down 1%, was the sole laggard on Nifty. 
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Market Commentary

Market Activity: Share indices were down 1% with prospects of sharper losses reined by a relatively positive guidance for FY09 by Infosys Technologies. Prices were expected to tumble, as the markets opened after an extended weekend holiday, due to losses on Wall Street and Asia. Bank and metal shares were among the worst hit, with HDFC Bank and ICICI Bank down around 3% each. SAIL and Tata Steel were down 3% and 2%, respectively.

At 10.06AM, Sensex was at 15635.70, down 171.94 points or 1.1%. Nifty was at 4728.90, down 48.90 points or 1.1%

Infosys Technologies, up nearly 3%, was the top Nifty gainer after it said it sees 2008-09 (Apr-Mar) earnings per share at Rs 92.32-93.92. Other gainers included Ranbaxy Laboratories and Satyam Computer Services, up 1% each. HCL Technologies also rose 1% ahead of its Jan-Mar earnings today.

In the mid trading session, indices extended gains to rise over 2% led by surge in the technology sector after Infosys Technologies announced its Jan-Mar earnings. The market was down 1% in early trade. Short covering and firm opening in European markets helped. At 1.10PM., Sensex was at 16153.06, up 345.42 or 2.2%. Nifty was at 4887.55, up 109.75 points or 2.3%. CNX IT index was up 6%. Infosys Technologies and Tata Consultancy Services were up over 7% each, and Wipro rose 6%. Ranbaxy Laboratories surged 9% on entering into a settlement pact with AstraZeneca over the generic version of anti-ulcer drug Nexium, and amid talk it may launch an open offer for Orchid Chemicals. HDFC Bank down 2% was the worst hit on Nifty, while Ambuja Cements and Housing Development Finance Corp were down 1% each.

Share indices ended up 2% after bellwether Infosys Technologies posted Jan-Mar earnings broadly in line with market expectations. Infosys’ earnings triggered short covering. Gains in Europe and Asian markets also helped. Sensex ended at 16153.66, up 346.02 points, or 2.2%. Nifty closed at 4879.65, up 101.85 points, or 2.1%. Market had risen 3% earlier in the session. Shares of information technology companies were top gainers on Nifty. Infosys Technologies ended up over 6%, Tata Consultancy Services gained 8%, and Wipro rose 6%. HCL Technologies ended 7.7% up at Rs 248.10. Ranbaxy Laboratories, up 8.7% at Rs 483.50, was the top Nifty gainer after the company entered into a settlement pact with AstraZeneca over the genetic version of anti-ulcer drug Nexium. Zee Entertainment, down 4% at Rs 230.2 was the worst hit in Nifty. The company’s Jan-Mar net rose 49.3% to Rs 1.04 bn

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Market Commentary  

	No. of  Scrips	Value (Crs.)
Advances	675	9422
Declines	524	2884
Unchanged	32	50
Total	1231	12355

Market Activity: Share indices rose over 1% in early trade tracking gains in overseas markets, but trade was choppy as investors awaited inflation data due at 10:30AM. 

At 10.05 AM, Sensex was at 15894.33, up 199.23 points or 1.2%. Nifty was at 4785.60, up 52.50 points or 1.1%.  

Reliance Energy, up nearly 4%, was the top Nifty gainer extending gains from the previous session after a foreign brokerage put a bullish price target on the stock. Tata Power, ICICI Bank, and Reliance Petroleum gained 2% each. Hero Honda Motors, down nearly 1%, was the sole loser on Nifty. 

In the mid trading session, indices were up over 1%, but slightly off highs hit after India’s industrial growth improved to 8.6% in February from 5.8% a month ago, and beating street expectations of 7.2% by a wide margin. At 1.00PM, Sensex was at 15925.15, up 230.05 points or 1.5%. Nifty was at 4805.90, up 72.90 points or 1.5%. Shares of capital goods and power companies rose further on the industrial growth data. Siemens and Larsen & Toubro were up around 4% each. Tata Power, up nearly 5%, was the top Nifty gainer. HCL Technologies, Hindustan Unilever and Ranbaxy Laboratories, down around 1% each, were the worst hit on Nifty. 

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Market Commentary

	No. of  Scrips	Value (Crs.)
Advances	689	6441
Declines	509	6664
Unchanged	34	53
Total	1232	13158

Market Activity: Key share indices were up slightly amid choppy trade on uncertain market direction as overseas markets were mixed.  

At 10.10AM, Sensex was at 15819.50, up 33.24 points or 0.2%. Nifty was at 4770.55, up 23.50 points or 0.5%.  

Shares of frontline technology and banking shares were major Nifty laggards. Satyam Computer Services was down nearly 2% and ICICI Bank fell 1%. Tata Communications and Reliance Petroleum, up over 2%, were top Nifty gainers. 

In the mid trading session, indices were up nearly 1%, but trade remained choppy as European and Asian markets were trading mixed. At 2.10PM, Sensex was at 15880.40, up 89.89 points, or 0.6%. Nifty was at 4785.95, up 38.90 points, or 0.8%. Reliance Energy was the top gainer in Nifty, up 6% after Morgan Staley reiterated its "overweight" rating on the stock. Shares of oil and gas companies rallied with Cairn India and Reliance Petroleum gaining 5% each. Larsen & Toubro was up 2%, and Bharat Heavy Electricals rose 1%. Bank shares were worst hit among Nifty stocks. Heavyweights HDFC Bank, and ICICI Bank fell 2% each. 

Key share indices ended down as European markets extended decline and key Asian markets ended mixed. Sensex ended at 15695.10, down 95.41 points, or 0.6%. Nifty closed at 4733, down 14.05 points, or 0.3%.  Bank shares were the worst hit due to profit sales. Heavyweights like ICICI Bank and HDFC Bank ended 4% lower each. Earlier, markets were up nearly 1% helped by gains in capital goods, oil and gas companies. Cairn India closed 5% higher and Reliance Petroleum ended 3% up. Reliance Energy, up 6.5% at Rs 1,254, was the top gainer on Nifty. Suzlon Energy and Ranbaxy Laboratories remained laggards, down over 4% each. 

Sector Activity : 

Tech stocks witnessed down trend with exception: Infosys closed down Rs 1445 with volumes of Rs 315.24 crs, Satyam closed down at Rs 420 with volumes of Rs 165.11 crs, TCS closed up at Rs 904 with volumes of Rs 65.88 crs, and Educomp closed down at Rs 3785 with volumes of Rs 49.60 crs.

 

Pharma stocks ended mixed: Sunpharma closed up at Rs 1280.05 with volumes of Rs 66.35 crs, Ranbaxy closed down at Rs 451 with volumes of Rs 62.85 crs, DivisLab closed up at Rs 1407 with volumes of Rs 40.39 crs, and Glenmark closed down at Rs 503 with volumes of Rs 19.70 crs.

Banking stocks closed down with exception: In the Public Sector SBI Bank closed down at Rs 1657.25 with volumes Rs 129.51 crs & Bank of India closed up at Rs 311.50 with volumes Rs 54.39crs. In the Private sector ICICI Bank closed down at Rs 800.65 with volume of Rs 335.21 crs & Axis Bank closed down at Rs 774.75 with volumes of Rs 96.56 crs.

Auto Stocks ended up with exception: Tata Motors closed down at Rs 624.25 with volumes of Rs 151.68 crs & M&M closed up at Rs 611.70 with volumes of Rs 33.26 crs. While in the 2 wheeler segment stocks, Hero Honda closed up at Rs 746 with volumes of Rs 14.72 crs, Bajaj Holding closed up at Rs 657 with volumes of Rs 64 crs.

Cement Stocks closed mixed: ACC closed down at Rs 814 with volumes of Rs 54.50 crs, Ambuja Cem closed up at Rs 184 with volumes of Rs 14.54 crs, Ambuja Cement closed up at Rs 122.20 with volumes of Rs 9.74 crs and Madras Cement closed up at Rs 3250 with volumes of Rs 20.6 crs.                    

 

Nifty ended at 4733 down by 14 points

			Cash	Derivative
Name	Close	%	NSE  Volumes    (Rs. Crs)	NSE F & O Volumes (Rs. Crs)  April
RELIANCE	2465	1.93	906.26	1754.08
RPL	175.90	3.29	689.94	1299.11
REL	1254.65	6.60	510.85	599.58
RELCAPITAL	1230	0.22	461.80	556.79
ORCHIDCHEM	230	-1.01	387.10	297.49

Click here for A critical daily report from the Dealing Desk of the
KRC Broking Division that provides our Investor Client with post-market analysis
of the day with an action guide charted for the next day of trading. Good
Evening KRC presents the technical viewpoint on the market and stocks and has
been indexed into the following segments:
* Earning Idea: Technical calls for short term.
* Market Actions: News specific calls with expected action.
* F & O trading call: Derivative strategy for the day.
* Index Trend: Expected movement of the Sensex with range
guidance.

Kisan Ratilal Choksey Shares and
Securities Pvt. Ltd.
1102, Stock Exchange Tower, Dalal Street, Mumbai 400 001
Phone:91-22-56338050 / 66965555. Fax: 5633 8060
Members: BSE & NSE
www.krchoksey.com
Email: customercare@krchoksey.com
/ eservices@krchoksey.com

 

Market Commentary

	No. of Scrips	Value (Crs.)
Advances	861	8169
Declines	345	3797
Unchanged	23	16
Total	1229	11982

Market Activity:
Key share indices were down around nearly 1% amid choppy trade as key Asian markets reversed gains made earlier in the session.

U.S.market ended down Tuesday on disappointing earnings and as minutes from U.S. Federal Reserve’s last policy meets heightened fears of a recession.

At 10.10AM, Sensex was at 15527.16, down 60.46 points or 0.4%. Nifty was at 4682.90, down 27.35 points or 0.6%.

Tata Communications was up 2% after falling 11.5% in the previous session on news a Hague court ruled in favour of Reliance Communications overseas arm. Ranbaxy Laboratories and L&T gained 1% each. Sterlite Industries and Satyam Computer  Services, down 2% each, were the worst hit on Nifty.

In the mid- session, market was choppy and indices swung between negative and positive territories on lack of clear direction. Investors were waiting for Jan-Mar earnings to provide momentum to market. Fall in key Asian and European markets also kept sentiment subdued.

At 1.43PM, Sensex was at 15620.77, up 33.15 points or 0.2%. Nifty was at 4708.40, down 1.25 points. Short covering lifted shares of capital goods and engineering companies. Bharat Heavy Electricals and Siemens gained around 3% each. Hindustan Unilever and Unitech, down 3% each, were major Nifty laggards.

Surge in shares of  financial, power, and capital goods  companies lifted key indices over 1%. The gains in these shares could be attributed to short covering. Sensex provisionally closed at 15790.51, up 202.89 points or 1.3%.
Nifty closed at 4747.05, up 37.40 points or 0.8%. HDFC Bank gained 6% and Housing Development Finance Corp
was up 5%. Unitech and Dr Reddy’s Laboratories, down 2% each, were the worst hit. Shares of FMCG companies also saw selling. Hindustan Unilever was down 2% and ITC fell 1%.

Exchange Traded Volumes

THE Exchange	Volume (Crs)
BSE	5318
NSE	11516
F&O	31113
Total	47947

 

 

 

 

 

 

Sector Activity :

Tech stocks witnessed down trend with exception:
Infosys closed up Rs 1479.95 with volumes of Rs 166.66 crs, Satyam closed down at Rs 427.20 with volumes of Rs 52.35 crs, TCS closed down at Rs 876.25 with volumes of Rs 32.51 crs, and TechM closed down at Rs 805.80 with volumes of Rs 45.18 crs.

Pharma stocks showed down trend with exception:
Orchid Chemical closed down at Rs 232.35 with volumes of Rs 1048.11 crs, Ranbaxy closed up at Rs 472.45 with volumes of Rs 57.80 crs, Glenmark closed up at Rs 526.65 with volumes of Rs 13.32 crs, and Sun Pharma closed up at Rs 1276.80 with volumes of Rs 42.40 crs.

Banking stocks hogged the limelight:

In the Public Sector SBI Bank up at Rs 1693.55 with volumes Rs 115.49 crs & Bank of India closed up at Rs 309.35 with volumes Rs 50.92 crs. In the Private sector ICICI Bank closed up at Rs 836.60 with volume of Rs 262.76 crs & Kotak Bank closed up at Rs 670.20 with volumes of Rs 76.65 crs.

Auto Stocks ended up with exception:

M&M closed up at Rs 608.90 with volumes of Rs 39.76 crs & Ashok Leyland closed up at Rs 38.25 with volumes of Rs 29.77 crs. While in the 2 wheeler segment stocks, Hero Honda closed up at Rs 745.20 with volumes of Rs 11.02 crs, Bajaj Auto closed down at Rs 309 with volumes of Rs 1.3 crs.

Cement Stocks showed positivity with exception:

ACC closed down at Rs 820.15 with volumes of Rs 25.09 crs, Ambuja Cem closed up at Rs 120.10 with volumes of Rs 32.02 crs, India Cement closed up at Rs 184.90 with volumes of Rs 17.06 crs and Prism Cement closed up at Rs 41.80 with volumes of Rs 7.8 crs.

Nifty ended at 4747 up by 37 points

			Cash	Derivative
Name	Close	%	NSE Volumes (Rs. Crs)	NSE F & O Volumes (Rs. Crs) April
ORCHIDCHEM	232.35	-3.23	1059.93	901.76
RELCAPITAL	1227.30	0.20	579.38	640.60
Reliance	2418.25	1.53	551.50	989.50
LT	2636.75	2.04	360.15	368.88
REL	1176.95	2.25	337.36	342.91

Click here for A critical daily report from the Dealing Desk of the
KRC Broking Division that provides our Investor Client with post-market analysis
of the day with an action guide charted for the next day of trading. Good
Evening KRC presents the technical viewpoint on the market and stocks and has
been indexed into the following segments:
* Earning Idea: Technical calls for short term.
* Market Actions: News specific calls with expected action.
* F & O trading call: Derivative strategy for the day.
* Index Trend: Expected movement of the Sensex with range
guidance.

Kisan Ratilal Choksey Shares and
Securities Pvt. Ltd.
1102, Stock Exchange Tower, Dalal Street, Mumbai 400 001
Phone:91-22-56338050 / 66965555. Fax: 5633 8060
Members: BSE & NSE
www.krchoksey.com
Email: customercare@krchoksey.com
/ eservices@krchoksey.com