3.30 Post Closing

Asian markets rebound ahead of weekend

Major indices in the region record healthy gains while Europe opens stronger. Asian markets were mostly higher, with Japanese indexes gaining after an advance on Wall Street, while Hong Kong stocks were lifted by strong corporate earnings forecasts by Chinese banks

BSE Indices:                                                                                  Sensex/Nifty:

Index	Change (%)		Top Gainers
SENSEX	0.99		BHEL	3.68%
MIDCAP	0.71		L&T	3.50%
SMLCAP	0.59		RELIANCE	3.34%
BSE Sectoral Indices			SATYAM	2.01%
AUTO	0.62		REL. ENERGY	1.97%
BANKEX	-0.28
CD	0.48
CG	3.08
FMCG	-1.1		Top Losers
HC	0.14		AMBUJA CEMENTS	-3.48%
IT	-0.17		INFOSYS	-2.70%
METAL	1.08		ITC	-2.14%
OIL&GAS	3.06		HIND. UNILEVER	-2.00%
POWER	2.26		RANBAXY	-1.80%
PSU	1.86
REALTY	-0.06
TECk	0.36

Read the rest of this entry »

FII activity for 02/04/08: Net Buyers of Rs. 1563.18 Crs. in Index Futures, Net Buyers of Rs 43.98 in Index Options, Net Buyers of Rs 164.07 Crs. in Stock Futures and Net Buyers of Rs 2.01 Crs in Stock Options.

Opening Market Review: Markets are likely to be volatile with no clear bias. Nifty (market) is strong above weak below: 4804; Sensex: 15902; Nifty Rest: 4867-4979; Supt: 4691-4629; Sensex Rest: 16085-16419; Supt: 15568-15385. Buying (Trading) opportunities exist in ACC, Aditya Birla Nuvo, Alstom Proj, Axis Bank, BEML, Bharti Airtel, Tata Power, PNB, Bank of Baroda. Cash buying in Kesoram, Rolta, Sobha Developers, Bombay dyeing, Ultra Tech, Hero Honda, Satyam, Gail, HDFC ltd. Nifty April Fut. strong above/weak below: 4816; Rest: 4890-5039; Support: 4667-4592.

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KRC News Update:

• Satyam & CIPET Sign MoU for Strategic Alliance

• Suzlon bags 200MW order from Horizon Wind Energy

• Kilburn Engineering likely to gets Rs 110 mn order from GHCL

• IVRCL Infrastructures secures orders valued Rs 484 Crs

   

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2.30 p.m

Recovery gathers steam as European stocks rally

The market extended gains in afternoon trade as buying continued in index pivotals. After opening on a firm note, market had lost ground by early afternoon trade only to recover helped recovery in index heavyweights Reliance Industries (RIL) and ICICI Bank. Trading was choppy. The market breadth was strong. 20 shares from the 30-member Sensex pack advanced.

European markets, which opened after Indian market extended gains after Swiss bank UBS AG unveiled a fresh attempt to reverse its fortunes and its writedowns came in along expected lines. UBS posted $19 billion in additional writedowns and said it was hiving off ailing portions of the bank into a separate unit. Asian markets, which opened before Indian market were mixed. US markets ended higher yesterday, 31 March 2008.

At 14:28 IST, the 30-share BSE Sensex was up 95.30 points or 0.61% at 15,739.74. Sensex lost 342.59 points at day’s low of 15,301.85 touched in early afternoon trade. Sensex rose 183.43 points at day’s high of 15,827.87 hit in early trade. Sensex oscillated in a band of 532.20 points in volatile trade.

The broader based S&P CNX Nifty rose 39.40 points or 0.93% at 4,778.70

The market breadth was strong: On BSE 1,677 shares advanced as compared to 872 that declined. 53 shares remained unchanged.

Stocks In News

Fund raising plan fuels Reliance Petroleum

Reliance Petroleum surged 7.26% to Rs 167.60 at 15:06 IST on BSE after the company said it has executed a facility agreement to raise $500 million for the refinery project at Jamnagar, Gujarat.

TVS Motor shrugs of fall in sales

TVS Motor Company rose 2.15% to Rs 35.70 at 14:58 IST despite registering 9% decline in total two wheeler sales to 1,17,045 units in FY 2008 over FY 2007.

Accentia Technologies recovers on overseas acquisition

Accentia Technologies was down 0.17% to Rs 143 at 14:35 IST on BSE, having recovered from the session’s low of Rs 136.60, after the company said it has acquired 51% stake in Oak Technologies Inc, US in an all cash deal.

1.30 p.m.

Market recovers as RIL firms up

Buying at lower levels led in index heavyweights Reliance Industries (RIL) and ICICI Bank triggered a sharp recovery in mid-afternoon trade, helping the Sensex wipe-off the entire losses and post gains in early afternoon trade. However, the market once again slipped into the red shortly. Trading was choppy. The market breadth again turned positive. 17 shares from the 30-member Sensex pack declined.

Positive start at European markets, which opened after Indian market boosted the sentiment further. European shares rose in early trade after Swiss bank UBS AG unveiled a fresh attempt to reverse its fortunes and its writedowns came in along expected lines. UBS posted $19 billion in additional writedowns and said it was hiving off ailing portions of the bank into a separate unit.

Asian markets, which opened before Indian market were mixed. US markets ended higher yesterday, 31 March 2008.

At 13:28 IST, the 30-share BSE Sensex was down 24.99 points or 0.16% at 15,624.14. Sensex lost 342.59 points at day’s low of 15,301.85 touched in early afternoon trade. Sensex hit a high of 15,827.87 in early trade. At the day’s high, the Sensex rose 183.43 points.

The market breadth which had turned negative in early afternoon trade, again turned positive: On BSE 1,462 shares advanced as compared to 987 that declined. 73 shares remained unchanged. The breadth was strong in early trade.

Tata Steel (down 2.55% to Rs 675.50, off day’s low of Rs 658.55), DLF (down 2.17% to Rs 632.45 off day’s low of Rs 622.20), and ICICI Bank (down 0.66% to Rs 765, off day’s low of Rs 732), though down were off their day’s lows.

Shares from capital goods sector recovered some losses after early sell-off. Bharat Heavy Electricals, the country’s largest state run engineering company in terms of order book position, was down 6.74% to Rs 1918, off session’s low of Rs 1887.30. It was the top loser from Sensex pack. On Monday, 31 March 2008, the company secured Rs 550-crore export order for supply of boilers from Koniambo Nickel SAS, an overseas joint venture of Switzerland-based mining group Xstrata PLC and a local company in New Caledonian.

Stocks In News

Ambuja Cements strengthens on rise in cement shipments

Ambuja Cements rose 1.2% to Rs 122.50 at 14:14 IST on BSE after it announced 16% rise in cement shipments to 1.72 million tonnes in March 2008 over March 2007.

Large fund raising powers Power Grid Corporation

Power Grid Corporation of India gained 0.97% to Rs 98.90 at 13:55 IST on BSE after the company said on Monday, 31 March 2008 it has raised close to $1 billion via loans from Asian Development Bank and The World Bank.

Maruti Suzuki India skids on dismal sales in March 2008

Maruti Suzuki India declined 1.39% to Rs 818 at 13:52 IST on BSE after its sales declined 2% to 70,296 vehicles in March 2008 over March 2007.

12.30 p.m.

Market extends losses; breadth turns negative

The market extended losses in early afternoon trade on fresh selling in index pivotals. The market breadth turned negative in contrast to a strong breadth earlier in the day. 26 shares from the 30-member Sensex pack declined. Asian markets, which opened before Indian market were mixed. US markets ended higher yesterday, 31 March 2008.

At 12:28 IST, the 30-share BSE Sensex was down 285.98 points or 1.83% at 15,358.46. Sensex lost 342.59 points at day’s low of 15,301.85 touched in early afternoon tradeSensex hit a high of 15,827.87 in early trade. At the day’s high, the Sensex rose 183.43 points.

The broader based S&P CNX Nifty was down 81.05 points or 1.74% at 4,650.25

The BSE Mid-Cap index was down 1.36% to 6,341.13 and the BSE Small-Cap index slipped 0.78% to 7,780.33. Both these indices outperformed the Sensex

Larsen & Toubro, lost 5.62% to Rs 2854.90. On Monday, 31 March 2008, the company bagged Rs 576 crore order from Hindustan Petroleum Corporation for 2 lakh tonne per annum lube oil base stock plant consisting of raffinate hydrotreating unit, mobil selective dewaxing unit and hydro finishing unit.

Tata Steel (down 4.35% to Rs 663), Wipro (down 4.78% to Rs 404.95), ICICI Bank (down 3.81% to Rs 740.75) and Mahindra & Mahindra (down 4.58% to Rs 663.80) slipped from the Sensex pack.

Reliance Industries slipped 0.38% to Rs 2256 on 2.79 lakh shares. The stock moved in a range of Rs 2245.50 and Rs 2297.60 so far during the day.

FMCG company in terms of sales, Hindustan Unilever rose 1.01% to Rs 230.95 on volumes of 1.42 lakh shares. It was the top gainer from Sensex pack.

TCS rose 0.57% to Rs 815.55. The stock was the worst performer from Sensex pack, in the financial year ended 31 March 2008, declining 34%.

GSS America Systems was the top traded counter on BSE with turnover of Rs 167.59 crore. Unitech was the second top traded counter on BSE with turnover of Rs 133.83 crore boosted by a block deal of 40.09 lakh shares struck on the counter on BSE at Rs 277.90 per share at 10:16 IST.

Reliance Capital (Rs 105.82 crore), Larsen & Toubro (Rs 79.44 crore), and Reliance Industries (Rs 64.51 crore), were the other turnover toppers on BSE in that order.

Stocks In News

Cambridge Solutions gains on expansion plan

Cambridge Solutions gained 3.69% to Rs 37.90 at 13:01 IST on BSE after its its wholly owned subsidiary Cambridge Solutions Pte announced expansion of its Lenovo ThinkPad quality development and assurance business

Gujarat Apollo Industries in demand

Gujarat Apollo Industries rose 4.29% to Rs 184.80 at 12:40 IS on BSE after company further invested Rs 7.4 crore in Apollo Earthmovers to make it a subsidiary company as a part of consolidation of construction equipment business of the group.

 

11.30 a.m.

Market slips into the red; breadth strong

The market slipped in the red after opening firm on selling pressure in index pivotals. The market breadth was strong. 17 shares from the 30-member Sensex pack advanced. Asian markets, which opened before Indian market were mixed. US markets ended higher yesterday, 31 March 2008.

At 11:27 IST, the 30-share BSE Sensex was down 86.69 points or 0.55% at 15,557.75. Sensex lost 94.09 points at day’s low of 15,550.35 touched in mid-morning trade. Sensex hit a high of 15,827.87 in early trade. At the day’s high, the Sensex rose 183.43 points.

The broader based S&P CNX Nifty was down 34.90 points or 0.74% at 4,699.60.

The BSE Mid-Cap index was down 0.09% to 6,422.15 whereas the BSE Small-Cap index rose 0.57% to 7,886.17.

Bharat Heavy Electricals, the country’s largest state run engineering company in terms of order book position, slumped 4.94% to Rs 1955. It was the top loser from Sensex pack. On Monday, 31 March 2008, the company secured Rs 550-crore export order for supply of boilers from Koniambo Nickel SAS, an overseas joint venture of Switzerland-based mining group Xstrata PLC and a local company in New Caledonian.

Larsen & Toubro, the country’s largest private sector engineering company in terms of order book position, lost 1.81% to Rs 2970. On Monday, 31 March 2008, the company bagged Rs 576 crore order from Hindustan Petroleum Corporation for 2 lakh tonne per annum lube oil base stock plant consisting of raffinate hydrotreating unit, mobile selective dewaxing unit and hydro finishing unit.

Unitech was the second top traded counter on BSE with turnover of Rs 128.65 crore boosted by a block deal of 40.09 lakh shares struck on the counter on BSE at Rs 277.90 per share at 10:16 IST. The stock slipped 2.63% to Rs 268.90 on high volumes of 46.38 lakh shares.

Provogue India gained 1.22% to Rs 1115.05 after the company said it has sold 27% stake in real estate arm Prozone Enterprises for Rs 457 crore. The stake has been acquired by Triangle India Real Estate Fund, promoted by Old Mutual Investment and ICS Realty.

Punj Lloyd slipped 0.53% to Rs 309.90 despite winning an order worth $68 million from Tecnimont S.p.A, Italy for borouge 2 polyolefins project of Abu Dhabi Polymers Company, UAE. The company made this announcement during trading hours on Monday, 31 March 2008.

The market sentiment remains edgy as Indian companies are sitting on huge losses on account of the forex derivative transactions they undertook last year. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc has hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt.

The sharp rise in inflation has been a cause of concern, which has now risen above the Reserve Bank of India’s caution limit of 5%. India’s wholesale price index surged to 13-month to 6.68% in the 12 months to 15 March 2008, surging from the previous week’s rise of 5.92%, government data showed on Friday, 28 March 2008.

Stocks In News

New order engineers recovery in Sunil Hitech Engineers

Sunil Hitech Engineers surged 5.76% to Rs 203 at 12:25 IST on BSE after the company said it has bagged orders worth Rs 100.68 crore from JSW Steel for structural works.

MTNL rings on receiving large income tax refund

Mahanagar Telephone Nigam rose 2.23% to Rs 98.65 at 12:09 IST on BSE after the company said it had received refund of Rs 1395 crore from the Income Tax department for various assessment years.

IL&FS Investment Managers capitalises on bonus issue

IL&FS Investment Managers surged 8.2% to Rs 268 at 11:53 IST on BSE after the company’s board recommended issue of bonus shares in the ratio of one equity share for every two shares held.

 

10.30 a.m.

 

Market nudges higher in opening trade

 

The market opened on a firm note on positive cues from global markets. The market breadth was strong. 25 shares from the 30-member Sensex pack advanced. Asian markets, which opened before Indian market were mostly in green. US markets ended higher yesterday, 31 March 2008.

At 10:26 IST, the 30-share BSE Sensex was up 146.93 points or 0.94% at 15,794.45. It opened with an upward gap of 127.28 points at 15,771.72 and advanced further to hit a high of 15,827.87 in early trade. At the day’s high, the Sensex rose 183.43 points. Sensex gained 12.74 points at day’s low of 15,657.18 touched in early trade.

The broader based S&P CNX Nifty was up 30.85 points or 0.65% at 4,765.35.

The total turnover amounted to Rs 496 crore on BSE by 10:30 IST. The total traded volumes may take a hit today due to the absence of participation from arbitrageurs. As per reports, many jobbers and arbitrageurs will stay away from market and will not trade today to express concern over the impact of the proposed withdrawal of securities transaction tax (STT) benefit under Section 88E on their business. The change in tax treatment on STT comes into effect today, 1 April 2008.

India’s largest tractor maker in terms of sales, Mahindra & Mahindra (M&M) surged 2.78% to Rs 715 on volumes of 8064 shares. It was the top gainer from Sensex pack. Housing Development Finance Corporation (up 2.36% to Rs 2440), Hindustan Unilever (up 2.10% to Rs 233.50), and Hindalco Industries (up 1.97% to Rs 168), edged higher from Sensex pack.

Bharat Heavy Electricals, the country’s largest state run engineering company in terms of order book position, slipped 1.30% to Rs 2030. It was the top loser from Sensex pack. Bharti Airtel (down 1.21% to Rs 813.50), and Tata Steel (down 0.80% to Rs 687.50), slipped from Sensex pack.

Unitech was the top traded counter on BSE with turnover of Rs 118.34 crore boosted by a block deal of 40.09 lakh shares struck on the counter on BSE at Rs 277.90 per share at 10:16 IST. The stock rose 1.03% to Rs 279 on high early volumes of 42.61 lakh shares.

The sharp rise in inflation has been a cause of concern, which has now risen above the Reserve Bank of India’s caution limit of 5%. India’s wholesale price index surged to 13-month to 6.68% in the 12 months to 15 March 2008, surging from the previous week’s rise of 5.92%, government data showed on Friday, 28 March 2008.

Finance minister P Chidambaram yesterday, 31 March 2008 announced a slew of measures, in an attempt to rein in commodity prices. The measures include a total ban on non-basmati rice exports, a reduction in import duty on edible oils, allowing states to impose stock limits with traders, and also warning the steel lobby to hold the priceline.

Meanwhile the Reserve Bank of India’s governor in a statement on the same day said that he was ready to tackle unacceptably high inflation, underscoring the seriousness across government quarters on tackling the issue.

Asian markets were trading mixed today, 1 April 2008. Hang Seng (up 1.31% at 23,149.15), Japan’s Nikkei (up 1.75% at 12,744.87), Singapore’s Straits Times (up 0.76% at 3,030.25) and South Korea’s Seoul Composite (up 0.36% to 1,710.08) rose. However, China’s Shanghai Composite index (down 2.96% to 3,369.99), and Taiwan’s Taiwan Weighted index (down 1.17% at 8,472.10), declined

Meanwhile, the current account deficit in India’s balance of payments (BoP) has widened despite higher growth in income from software services and a strong growth in remittances by the Indian diaspora. The current account deficit which is derived from cross-border transactions of goods and services, widened to $5.4 billion during the quarter ended December 2007 on account of a bloated import bill caused by higher oil prices and industrial offtake.

 

Stocks In News

Dr Reddy’s Lab gains on overseas acquisition

Dr Reddy’s Laboratories gained 0.85% to Rs 596 at 11:28 IST on BSE on entering into a definitive agreement with The Dow Chemical Company to acquire Dowpharma Small Molecules business associated with its United Kingdom sites in Mirfield & Cambridge.

Torrent Cables gains plan for merger with group firm

Torrent Cables rose 0.83% to Rs 188.20 at 11:19 IST on BSE after it said on Monday its board would meet on 5 April 2008 to consider merging itself with Torrent Gujarat Biotech.

Front line steel shares ease

Steel stocks were mixed on reports steel ministry plans a series of fresh initiatives to rein in surging steel prices

Provogue India in vogue after stake sale in arm

Provogue India gained 2.21% to Rs 1126 at 10:52 IST on BSE after the company said it has sold 27% stake in real estate arm Prozone Enterprises for Rs 457 crore.

Hero Honda in top gear on increase in sales

Hero Honda Motors rose 1.93% to Rs 703.50 at 10:46 IST on BSE after the company said on Monday its sales rose 15% to 3.20 lakh units in March 2008 over March 2007.

TCS hardens on signing deal with ArvinMeritor

Tata Consultancy Services rose 2.28% to Rs 829.40 at 10:34 IST on BSE after it said on Monday, 31 March 2008, it had signed a five-year, multi-million dollar contract with auto components maker ArvinMeritor Inc.

Punj Lloyd gains on overseas contract

Punj Lloyd gained 2.01% to Rs 317.80 at 9:55 IST on BSE after the company said it has received an order worth $68 million from Tecnimont S.p.A, Italy for borouge 2 polyolefins project of Abu Dhabi Polymers Company, UAE

Large order powers Kirloskar Brothers

Kirloskar Brothers rose 0.73% to Rs 234 at 10:21 IST on BSE on receiving letter of intent for an order worth Rs 338.92 crore from the Government of Andhra Pradesh, Irrigation & CAD Department in respect of Rajiv Sagar Lift Irrigation project.

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The key benchmark indices extended losses in early afternoon trade on fresh selling in index pivotals. Negative cues from global markets dampened sentiment. The sentiment was also hit by reports that Institute of Chartered Accountants of India (ICAI) has asked companies to disclose losses on a mark-to-market basis incurred due to derivatives trades from the current financial year onwards (year ending March 2008), as a precursor to making a new accounting standard — the AS-30 — mandatory from 1 April 2011. This may hit Q4 March 2008 and FY 2008 (year ending March 2008) bottom line of Indian firms.  

Asian markets which opened before Indian market, were in red. US stocks dropped on Friday, 28 March 2008, as a profit warning from US department store chain J.C. Penney raised concerns about slowing consumer spending while persistent worries about credit-related problems throttled financial stocks. A prominent analyst warned that earnings will not support current dividend payouts in 2008 at Citigroup, Wachovia Corp and other US banks.  

The BSE Sensex dipped below 16,000 mark. 28 stocks from the 30-member Sensex pack declined. IT pivotals extended early fall on fresh selling pressure. Despite the sharp fall, the market breadth was positive.  

At 12:27 IST, the 30-share BSE Sensex was down 568.74 points or 3.47% at 15,800.23. It opened with a downward gap of 144.63 points at 16,226.66. Sensex slipped to a low of 15,778.71 in early afternoon trade. At the day’s low, the Sensex lost 592.58 points. 

The broader based S&P CNX Nifty was down 158.05 points or 3.20% at 4,783.95. 

The ICAI norm requires companies to provide for all losses, including those that may occur due to trading in derivatives. Indian companies are sitting on huge losses on account of the forex derivative transactions they undertook during the year. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc has hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt.  

There are many companies, which are not disclosing these losses, as it is not mandatory to show these numbers in the balance sheets. But with the new accounting norms they now have some compulsions. Companies, which thought that they could escape declaring the losses, will now have to come forward and show their numbers, which could hit their balance sheet, which, in turn, may impact their market capitalisation.  

Earlier, robust corporate advance tax payments in Q4 March 2008 indicated that corporate profit growth will be strong in the quarter. Advance tax figures showed banks, hospitality and software firms were doing better than sectors like automobiles and cement.  

The market breadth was positive: On BSE 1,485 shares advanced as compared to 945 that declined. 41 shares remained unchanged.  

The BSE Mid-Cap index was down 0.37% to 6,498.85 while the BSE Small-Cap index gained 0.54% to 7,944.97 The total turnover amounted to Rs 2382 crore on BSE by 12:30 IST as compared to Rs 1689 crore by 11:30 IST.  

IT pivotals were the worst hit in today’s slump on worries that slowdown in US may impact their revebues. India’s second largest software services exporter Infosys Technologies slumped 6.74% to Rs 1423.40 on 1.54 lakh shares. It was the top loser from Sensex pack.

Other IT pivotals, Satyam Computers (down 4.10% to Rs 391.75), Wipro (down 3.10% to Rs 440), and TCS (down 6.44% to Rs 814.05), also declined IT pivotals derive majority of their revenue from exports to US markers.  

India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries lost 1.92% to Rs 2302.50 on 3.77 lakh shares. The stock moved in a range of Rs 2278 and Rs 2340 so far during the day.  

Banking shares declined. ICICI Bank (down 5.41% to Rs 790), HDFC Bank (down 6.03% to Rs 1316.60), and State Bank of India (down 3.10% to Rs 1628.10), declined on selling pressure.  

Grasim (down 4.81% to Rs 2575) and Larsen & Toubro (down 3.88% to Rs 3025) were the other losers from Sensex pack.  

Cipla, the country’s third largest pharma company in terms of sales, gained 1.77% to Rs 221.40 on 2.19 lakh shares. It was the top gainer from Sensex pack. India’s largest cigarette manufacturer in terms of sales, ITC rose 1.16% to Rs 208.70  

Reliance Capital was the top traded counter on BSE with turnover of Rs 94.67 crore followed by Reliance Industries (Rs 88.76 crore), Mundra Port & Special Economic Zone (Rs 76.48 crore), Reliance Petroleum (Rs 70.65 crore), and NTPC (Rs 67.47 crore), in that order.  

Among the side counters, Axon Infotech (up 17.96% to Rs 41.05), Ceat (up 11.98% to Rs 114), Indowind Energy (up 20% to Rs 68.20), and Sulzer India (up 20% to Rs 687), surged IOL Broadband (down 10% to Rs 92.60), Godrej Industries (down 9.45% to Rs 260), and Aurionpro Labs (down 7.23% to Rs 301.05), slipped.  

Four Soft jumped 5% to Rs 27.10 while Take Solutions declined 0.59% to Rs 763. The board of directors of both these companies will consider merger proposal.  

Suven Life Sciences gained 1.51% to Rs 33.55 after the company said it has secured patent rights in Mexico and Korea for two of its new chemical entities for the treatment of disorders associated with neurodegenerative diseases.  

City Union Bank declined 0.69% to Rs 28.80 after bank said it would issue 80 million shares by way of qualified institutional placement. The bank made this announcement after market hours on Friday, 28 March 2008.  

The Cabinet Committee on prices will hold a meeting today, 31 March 2008, to take stock of high inflation that surged to over 13-month high of 6.68% in mid-March 2008. Inflation started its upward climb some weeks back, particularly because prices had risen the most in the case of cereals, vegetables, milk and edible oils. Fiscal measures such as reduction in import duties on edible oils have not yet yielded results in taming the inflationary pressures.  

Asian markets were trading lower today, 31 March 2008. Hang Seng (down 1.91% at 22,840.13), Japan’s Nikkei (down 2.30% at 12,525.54), Taiwan’s Taiwan Weighted (down 0.59% at 8,572.59), Singapore’s Straits Times (down 0.35% at 3,021.72), Shanghai Composite (down 2.62% to 3,486.40), and edged lower. However South Korea’s Seoul Composite rose 0.13% to 1,703.99  

Back home, the 30-share BSE Sensex advanced 355.73 points or 2.22% at 16,371.29 on Friday, 28 March 2008. The broader CNX S&P Nifty was up 111.75 points or 2.31% at 4942 on that day.

The Sensex surged 1,376.46 points or 9.18% to 16,371.29 in the week ended Friday, 28 March 2008 on buying by foreign institutional investors. The S&P CNX Nifty rose 368.05 points or 8.04% to 4,942 in the week.  

As per provisional data, foreign institutional investors (FIIs) purchased sold worth Rs 401.95 crore on Friday, 28 March 2008. Domestic institutional investors (DIIs) were net buyers of shares worth Rs 729.50 crore on that day.  

FIIs were net sellers of Rs 132.21 crore in the futures & options segment on Friday, 28 March 2008. They were net sellers of index futures to the tune of Rs 366.53 crore and bought index options worth Rs 406.38 crore. They were net sellers of stock futures to the tune of Rs 184.53 crore and bought stock options worth Rs 12.47 crore

Stocks In News

Era Infra Engineering survives market fall on securing new contract 

Era Infra Engineering was flat at Rs 596.95 at 12:38 IST on BSE bucking the weak market trend after the company secured a contract worth Rs 20 crore for supply of ready mix concrete in New Delhi. 

Tyre stocks in top gear on plans to hike prices 

Five tyre stocks rose between 3.21% to 11% on reports tyre manufacturers are gearing up to increase prices following a surge in input costs. 

Four Soft hardens on possible merger with Take Solutions 

Four Soft hit 5% upper circuit at Rs 27.10 at 12:04 IST on BSE after Four Soft and Take Solutions said the boards of the two companies will consider merger proposal. 

Suven Life Sciences gains on patent rights 

Suven Life Sciences gained 1.66% to Rs 33.60 at 11:48 IST on BSE after the company said it has secured patent rights in Mexico and Korea for two of its new chemical entities for the treatment of disorders associated with neurodegenerative diseases. 

Chowgule Steamships sets sail on unit’s expansion plan 

Chowgule Steamships hit 5% upper circuit at Rs 38.90 on BSE after Chowgule Ports & Infrastructure, a company co-promoted by Chowgule Steamships, signed an agreement with Maharashtra Maritime Board (MMB) for development of a minor port at Jaigad.

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Weakness persists

The key benchmark indices were weak in mid-morning trade on sustained selling pressure. Negative cues from global markets dampened sentiment in opening trade. Asian markets which opened before Indian market, were in red. US stocks dropped on Friday, 28 March 2008, as a profit warning from US department store chain J.C. Penney raised concerns about slowing consumer spending while persistent worries about credit-related problems throttled financial stocks. A prominent analyst warned that earnings will not support current dividend payouts in 2008 at Citigroup, Wachovia Corp and other US banks.

The BSE Sensex dipped below 16,000 mark in early trade in choppy trade. 27 stocks from the 30-member Sensex pack declined. IT pivotals extended early fall on fresh selling pressure. The market breadth was positive on BSE.

At 11:27 IST, the 30-share BSE Sensex was down 388.90 points or 2.38% at 15,982.39. It opened with a downward gap of 144.63 points at 16,226.66 and slipped further to touch low of 15,877.57 in mid-morning trade. At the day’s low, the Sensex lost 493.72 points.

The broader based S&P CNX Nifty was down 105.75 points or 2.25% at 4,846.25.

The Cabinet Committee on prices will hold a meeting today, 31 March 2008, to take stock of high inflation that surged to over 13-month high of 6.68% in mid-March 2008. Inflation started its upward climb some weeks back, particularly because prices had risen the most in the case of cereals, vegetables, milk and edible oils. Fiscal measures such as reduction in import duties on edible oils have not yet yielded results in taming the inflationary pressures.

The market breadth was positive: On BSE 1,355 shares advanced as compared to 937 that declined. 51 shares remained unchanged.

The BSE Mid-Cap index was down 0.62% to 6,482.03 while the BSE Small-Cap index gained 0.18% to 7,915.92 The total turnover amounted to Rs 1689 crore on BSE by 11:30 IST as compared to Rs 659 crore by 10:30 IST.

IT pivotals extended early fall on fresh selling pressure. India’s second largest software services exporter Infosys Technologies slumped 6.32% to Rs 1429.85 on 1.16 lakh shares. It was the top loser from Sensex pack.

Other IT pivotals, Satyam Computers (down 4.10% to Rs 391.75), Wipro (down 2.30% to Rs 443.60), and TCS (down 3.47% to Rs 839.95), also declined

India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries lost 1.43% to Rs 2314 on 2.95 lakh shares. The stock moved in a range of Rs 2278 and Rs 2340 so far during the day.

ICICI Bank (down 4.38% to Rs 798.60), HDFC Bank (down 4.73% to Rs 1334), and Grasim (down 4.82% to Rs 3574.85), were the other losers from Sensex pack.

Cipla, the country’s third largest pharma company in terms of sales, gained 1.77% to Rs 221.40 on 1.78 lakh shares. It was the top gainer from Sensex pack.

ITC (up 0.87% to Rs 208.10), and Hindalco Industries (up 0.11% to Rs 175.65), were the other gainers from Sensex pack.

Reliance Industries was the top traded counter on BSE with turnover of Rs 70.20 crore followed by Mundra Port & Special Economic Zone (Rs 67.18 crore), Reliance Capital (Rs 62.06 crore), NTPC (Rs 58.90), and Orchid Chemicals & Pharmaceuticals (Rs 57.56 crore), in that order Among the side counters, Axon Infotech (up 17.96% to Rs 41.05), Indowind Energy (up 20% to Rs 68.20), and Sulzer India (up 20% to Rs 687), surged IOL Broadband (down 10% to Rs 92.60), Godrej Industries (down 9.45% to Rs 260), and Setco Automotive (down 9.42% to Rs 165), slipped.

Asian markets were trading lower today, 31 March 2008. Hang Seng (down 1.91% at 22,840.13), Japan’s Nikkei (down 2.50% at 12,500.37), Taiwan’s Taiwan Weighted (down 0.59% at 8,572.59), Singapore’s Straits Times (down 0.50% at 3,016.65), Shanghai Composite (down 2.93% to 3,475.50), and South Korea’s Seoul Composite (down 0.28% to 1,697.03) edged lower.

Stocks In News

New order does not benefit L&T

Larsen & Toubro declined 3.98% to Rs 3022 at 11:11 IST on BSE even as the company said on Monday, 31 March 2008 its engineering and construction division has received an order worth Rs 576 crore from Hindustan Petroleum Corporation.

Investors withdraw from City Union Bank

City Union Bank declined 1.03% to Rs 28.70 at 11:14 IST on BSE after bank said it would issue 80 million shares by way of qualified institutional placement

Spanco Telesystems rings on new orders

Spanco Telesystems & Solutions surged 5.07% to Rs 172.05 at 10:33 IST on BSE after the company said on Monday, 31 March 2008, it won orders worth Rs 166 crore from various parties

Amtek Auto skids on currency market losses

Amtek Auto declined 2.3% to Rs 254.40 at 10:53 IST on BSE after company said it may suffer losses up to $18 million in the next two years due to volatility in the global currency market.

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Market opens on a weak note

Local market opened lower mirroring negative global cues. Asian markets were trading lower today, 31 March 2008 while US markets closed lower on Friday, 28 March 2008. The BSE Sensex dipped below 16,000 mark only to regain it in choppy trade. Market breadth was positive on BSE. 27 stocks from the 30-member Sensex pack declined. IT pivotals declined on selling pressure.

At 10:26 IST, the 30-share BSE Sensex was down 365.15 points or 2.20% at 16,011.38. It opened with a downward gap of 144.63 points at 16,226.66 and slipped further to touch low of 15,987.69 in early trade. At the day’s low, the Sensex lost 383.60 points.

The broader based S&P CNX Nifty was down 100.05 points or 2.02% at 4,841.95.

The market breadth was positive: On BSE 1,066 shares advanced as compared to 727 that declined. 30 shares remained unchanged.

The total turnover amounted to Rs 659 crore on BSE by 10:30 IST.

IT pivotals declined on selling pressure. India’s second largest software services exporter Infosys Technologies slumped 5.10% to Rs 1449 on 32147 shares. It was the top loser from Sensex pack.

Other IT pivotals, Satyam Computers (down 2.56% to Rs 398), Wipro (down 4.30% to Rs 434.50), and TCS (down 1.20% to Rs 857), also declined

India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries lost 2.66% to Rs 2288.70 on 1.23 lakh shares. The stock moved in a range of Rs 2278 and Rs 2340 so far during the day.

ICICI Bank (down 3.86% to Rs 803), HDFC Bank (down 3.14% to Rs 1357.10), and DLF (down 2.40% to Rs 679), were the other losers from Sensex pack.

Cipla, the country’s third largest pharma company in terms of sales, gained 1.88% to Rs 221.65 on 1.05 lakh shares. It was the top gainer from Sensex pack.

ITC (up 1.43% to Rs 209.25), and Hindalco Industries (up 0.03% to Rs 175.50), were the other gainers from Sensex pack.

Ranbaxy Laboratories (up 0.46% to Rs 466.50), and Cipla (up 0.42% to Rs 205), were the other gainers from Sensex pack.

Among the side counters, Axon Infotech (up 18.39% to Rs 41.20), Indowind Energy (up 17.68% to Rs 66.90), and Sulzer India (up 17.72% to Rs 674), surged

Marketmen are keenly awaiting Q4 and full year March 2008 results from Indian corporates. Robust corporate advance tax payments in Q4 March 2008 indicate that corporate profit growth will be strong in the quarter. Advance tax figures showed banks, hospitality and software firms are doing better than sectors like automobiles and cement.

The sharp rise in inflation has been a cause of concern, which has now risen above the Reserve Bank of India’s caution limit of 5%. India’s wholesale price index surged to 13-month to 6.68% in the 12 months to 15 March 2008, surging from the previous week’s rise of 5.92%, government data showed on Friday, 28 March 2008.

Asian markets were trading lower today, 31 March 2008. Hang Seng (down 1.73% at 22,882.77), Japan’s Nikkei (down 2.25% at 12,531.88), Taiwan’s Taiwan Weighted (down 0.86% at 8,549.02) Singapore’s Straits Times (down 0.50% at 3,016.65), Shanghai Composite (down 2.30% to 3,497.65), and South Korea’s Seoul Composite (down 0.79% to 1,688.37) edged lower.

US markets closed lower on Friday, 28 March 2008 after a profit warning from J.C. Penney renewed fears about slower consumer spending. The Dow Jones industrial average slipped 86.06 points, or 0.70%, to 12,216.40. The S&P 500 index was down 10.54 points, or 0.80%, to 1,315.22, and the Nasdaq Composite index declined 19.65 points, or 0.86%, to 2,261.18.

The Sensex surged 1,376.46 points or 9.18% to 16,371.29 in the week ended Friday, 28 March 2008 on buying by foreign institutional investors and local funds. The S&P CNX Nifty rose 368.05 points or 8.04% to 4,942 in the week.

As per provisional data, foreign institutional investors (FIIs) purchased sold worth Rs 401.95 crore on Friday, 28 March 2008. Domestic institutional investors (DIIs) were net buyers of shares worth Rs 729.50 crore on that day.

FIIs were net sellers of Rs 132.21 crore in the futures & options segment on Friday, 28 March 2008. They were net sellers of index futures to the tune of Rs 366.53 crore and bought index options worth Rs 406.38 crore. They were net sellers of stock futures to the tune of Rs 184.53 crore and bought stock options worth Rs 12.47 crore.

Stocks In News

IRB Infrastructure speeds up on new order win

IRB Infrastructure Developers gained 1.89% to Rs 180.80 at 10:14 IST on BSE after the company said it had won a bid from Maharashtra State Road Development Corporation for the integrated road development program in the city of Kolhapur, Maharashtra.

Amtek Auto may see action

Amtek Auto said on Friday, 28 March 2008, it expects a potential loss of up to $18 million over the next two years due to volatility in global currency prices. The company said the promoters have undertaken to bring the matching amount to meet the obligation through 10-year debentures or preference shares.

Tata Power may sell stakes in holding companies and assets to help fund its $6 billion capacity expansion plans, the company said in a presentation that was published on Friday. Tata Power plans to raise its power generation capacity by more than five times to nearly 13,000 megawatts by 2013, the company said in an analyst presentation sent to the stock exchange.

Binani Cement builds on overseas acquisition

Binani Cement rose 0.49% to Rs 60.95 at 9:56 IST on BSE after the company said on Friday, 28 March 2008, its wholly owned subsidiary Mukundan Holdings has acquired 49% stake in a company in Dubai and 30% stake in Krishna Holdings, Singapore.

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Market volatile after inflation data:

The key indices declined in the early afternoon trade after data showed a surge in inflation. The market, however, quickly pared some losses after some buying emerged in some large caps including IT stocks.

The BSE Sensex is trading down at 16055 (up 52 points) while the NSE Nifty is trading at 4851 (up 21 points). The rupee is trading at 40.15 to the dollar.

BSE Indices: Most of the key indices were trading Positive like the Realty (5.81%), Metal (6.24%), Oil and Gas (10.01%), Power (7.10%), and BANKEX (5.68%) indices. The Midcap and Small cap were trading down at (19.85%) and (5.85%).

Sensex/Nifty: Tata Steel (+5.29%), Cipla (+2.65%), Infosys (+2.38%), ITC (+2.20%) and REL Energy (+1.94%) were amongst the top gainers while HDFC BANK (-3.86%), ICICI BANK (-3.28%), ONGC (-2.62%), and Tata Motors (-1.71%) were amongst the top losers.

BSE Mid-Cap, Small-Cap indices score gains

The BSE Mid-Cap index gained 1.24% to 6,353.86 and the BSE Small-Cap index advanced 2.34% to 6,353.86, with both the indices outperforming the Sensex.

Stocks in News

Jupiter Bioscience soars on overseas acquisition

Jupiter Bioscience soared 4.95% to Rs 143.05 at 11:53 IST on BSE after the company said on Thursday, 27 March 2008 it would acquire a manufacturing facility of Merck Life Sciences, Switzerland, for an undisclosed sum.

ETC Networks relists following scheme of arrangement

ETC Networks was trading at Rs 345.05 at 11:20 IST on BSE after the stock was relisted following a scheme of arrangement

Smooth sailing for Varun Shipping after vessel acquisition

Varun Shipping Company surged 8.24% to Rs 73.55 at 11:22 IST on BSE after the company said it has acquired India’s third largest anchor handling and towing supply vessel.

Steel makers shine

Shares of three steel makers rose between 0.95% to 5.67% on reports the Indian government has suspended export subsidy under the duty entitlement pass book scheme on some steel products temporarily to control inflation and boost domestic supplies

Tata Chemicals gains on overseas acquisition

Tata Chemicals gained 2% to Rs 277.50 at 10:45 IST on BSE after the company said it has successfully completed the acquisition of General Chemical Industrial Products Inc. USA.

Bharat Forge forges ahead on expansion buzz

Bharat Forge rose 1.33% to Rs 282 at 10:18 IST on BSE on reports the company has signed a memorandum of understanding with the Maharashtra government for its centre for advanced manufacturing at Baramati, Maharashtra.

SEZ plan boosts Alembic

Alembic rose 2.18% to Rs 46.85 at 9:56 IST on BSE on reports that the company plans to set up its own special economic zone dedicated to the pharma sector.

Pre Opening

Key Indices:

Market traded slightly lower tracking weak Asian markets, but had quickly entered into recovery mode. In spite of some volatility in early trade, select metal stocks recorded strong gains. In mid session, indices extended their decline, falling 2% as European markets slid after reports UBS posted a record loss on a $14 bn write-down from its U.S. mortgage exposure.

Indices	Close	Support	Trigger	Resistance	Advance Decline%	Direction
Sensex	17759	17585-17411	17857	18031-18303	39:60	volatile
Nifty	5168	5102-5036	5208	5274-5380	30:70	volatile
Nifty (Feb) Future	5137	5071-5005	5168	5234-5331	16: 84	volatile

Outlook:

• Markets are likely to be volatile

• Medium term accumulation and long term remains positive.

Key indicators:

FII- Equity Rs Cr	Mutual Fund. Rs Cr for 22nd Jan	Crude Oil $	Rupee/$	Advance Decline Ratio	US Markets	Asian Markets
(1513.40) 29jan	368.40 28 jan	NA	39.40	3:7	Flat	Flat

Market News:

• Credit Suisse gets SEBI OK for portfolio management services
• GSK Pharma launches vaccines for diphtheria, tetanus, pertussis
• ICSA India gets Rs 389.4 mn orders from Northern Power
• Sadbhav Engineering gets order worth Rs 475.6 mn
• DoT OKs Reliance Comm plan for CDMA svc in Assam, northeast

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ICICI tumbling leads to overall decline	1.00p.m.
The key benchmark indices tumbled in the afternoon trade, extending last two sessions’ fall caused by Budget blues, after trading resumed after a 45-minute stoppage on account of sun outage. India’s largest private sector bank by assets ICICI Bank tumbled. Auto stocks bucked the bearish trend. Mid- and small-cap stocks languished in the negative territory. The BSE Sensex is trading at 16214 (down 464 points) while the NSE Nifty was trading at 4820 (down 133 points). The rupee was trading at 40.26  to the dollar. BSE Indices: All of the key indices were trading negative like the Oil and Gas (-2.91%), IT (-1.52%), Consumer Goods (-3.25%), Consumer Durables (-3.74%), and Metal (-1.45%) indices. The Midcap and Smallcap were trading positive at (-2.95%) and (-3.45%).  Sensex/Nifty: Maruti Suzuki (+1.93%), HDFC (+1.73%), M&M (+1.35%), TCS (+1.04%), and Tata Motors (+0.99%) were amongst the top gainers while ACC Limited (-5.87%), Suzlon (-8.03%), ICICI Bank (-5.32%), and L&T (-3.79%) were amongst the top losers.  BSE Realty index worst hit in market fall The BSE Realty index slumped 5.22% to 8,486.45 and was the worst performing sectoral index on BSE. BSE Sensex was down 280.84 points or 1.68% to 16,397.04, extending early fall on reports that ICICI Bank has lost over Rs 1000 crore in overseas operations due to subprime crisis.  Small-cap, mid-cap indices falter BSE Sensex was down 141.43 points or 0.85% to 16,536.45, extending last two days’ fall caused by Budget blues. Traders, domestic funds and some foreign institutional investors (FIIs) are likely to be hit by a hike in short term capital gains tax on sale of shares to 15% from 10%, which amounts to a massive 50% hike in the tax rate, in Union Budget 2008-09 announced on Friday, 29 February 2008. The change in tax treatment of the Securities Transaction Tax (STT) in the budget, meanwhile, may impact arbitrage volumes on the bourses. STT will now be treated like any other deductible expenditure against business income for the assesse. This is against the current practicse whereby an assesse gets 100% rebate for STT paid against the tax liability for the year. A fall in arbitrage will result in decline in liquidity on the bourses.
Pre Opening	9.30a.m.
Key Indices:   Indices opened down 3%, with nifty falling below 5100, as overseas markets declined     Indices  Close Support Trigger Resistance Advance Decline% Direction Sensex 16678 16466-16254 16847 17059-17440 26:74 volatile Nifty 4953 4852-4751 5037 5139-5324 18:82 volatile Nifty (March) Future 4880 4820-4760 4938 4997-5115 4:96 volatile   Outlook: Markets are likely to be volatile with recovery expected in second half Medium term sideways and long term remains positive.   KEY Indicators:   FII- Equity Rs Cr for 3rd March Mutual Fund. Rs Cr for 29th Feb Crude Oil $  Rupee/$ Advance Decline Ratio US Markets Asian Markets    (244.10)   456.40 103.25 40.26      1:4 NA NA   Market News:  Gammon Infra to invest Rs 1.3 bn in existing projects FY09 IVRCL Infra gets Rs 4.78 bn order for irrigation works Subhash Projects gets orders worth Rs 805.4 mn Suzlon to spend Rs 1 bn on blade retrofit program Hindalco Ind hikes aluminium prices by Rs 5,000/tn NALCO hikes pdt prices by Rs 10,000/tn, effective Sun TVS Motor to launch Flame, Apache RTR EFi, 3-wheelers this mo TCS, Nokia Siemens in pact for research services in Germany     Sensex Negative Nifty Negative Mid Cap Negative Small Cap Negative Auto Negative Banking Negative Capital Goods Negative FMCG Negative Healthcare Negative I.T Negative   Metals Negative Oil & Gas Negative PSU Negative Reality Negative

 

Weak Start @ 12.00p.m.

The markets had opened on a subdued note, seemingly on the back of the setbacks suffered by the global indices. While Pharma and telecom stocks were trading firm, banking, cement and software stocks were featuring among the losers. The overall market breadth was negative with losers outnumbering gainers in the ratio of 1.6:1 on the NSE.  

Sensex was trading at 17712.02, down 110 points while the Nifty was trading at 5236.95, down 31 points. The rupee was trading at 39.25 to the dollar. 

BSE Indices: PSU (-0.46%), Mid Cap (-0.41%), Capital Goods (-0.39%), Bank (-1.21%), Oil & Gas (-0.95%), IT (-0.47%), Tech (-0.26%), Power (-0.45%), Reality (-0.62%), Small Cap (-0.49%) were trading in Red whereas Auto (+0.2%), FMCG (+0.04%), Metal (+0.48%), Healthcare (+0.67%) were trading in green . 

Sensex/Nifty: Hindalco (+3.50%), Cipla (+1.76%), Satyam (+1.50%), M&M (+1.26%), HDFC Bank (+0.77%), Hero Honda (+2.78%), Sun Pharma (+2.53%), NALCO (+2.44%), Sterlite Ind (+2.28%) were among top gainers whereas Ambuja Cem (-2.56%), SBI (-2.07%), Reliance (-1.76%), ACC (-1.57%), ICICI Bank (-1.32%), HCL Tech (-2.63%), PNB (-2.35%), Reliance (-2.03%) were among top losers. 

Shares of metal companies were top gainers on Nifty, with Hindalco and National Aluminium Co up around 4% each. Technology shares were the worst hit on Nifty. Infosys Technologies and HCL Technologies were down 1% each.  

Oil stocks were trading weak with RIL and Cairn India each down 1% being the key losers. The centre has rejected a demand by RIL and ONGC to relax, by five years, the deadline by which they have to complete exploration of hydrocarbon blocks in the Kerala Konkan basin. This follows from the decision of the empowered committee of secretaries, which decided against the extension asked for by the two companies because it would set the wrong precedent. RIL and ONGC had asked that the government give a research and development (R&D) status for their blocks in the Kerala Konkan basin. That would have given them more time to develop the blocks according to prevailing policies. ONGC however was trading marginally higher.  

What’s in F&O? 

FII Investment:

EQ (+350.45 Cr.) 

Open Interest (OI) positions:

Market wide: up Rs. 496 Cr at Rs 81707 Cr.

Index : up Rs. 767 Cr at Rs. 43921

Stock : down Rs. 271 Cr at Rs. 37786

Nifty: -0.03 % 

 PCR (Nifty) 1.04(1.01)

Active Contracts – Nifty, Nifty March, REL, Ril, RelCapital, Ril March

Top Gainers – Sun Pharma, Glaxo, M&M, HDFC, BHEL, Siemens, Ranbaxy, LT, Maruti, PNB

Top Losers – Grasim, REL, NALCO, Tata Com, Sterlite Ind, Suzlon, Satyam Comp, Infosys Tech

Active Calls – 5300, 5400, 5200, 5500 March, 5500, 5100, 5400 March, 5300 March, 5000, 5350

Active Puts – 5300, 5200, 5400, 5000 March, 5100, 5500, 5300 March, 5000, 4800 March, 5200 Mar. 

Symbol	% OI Chg
Sugar	3.38
Index	2.09
Others	1.63
Power	1.18
Metals	1.11
Banking	0.95
Technology	0.89
Pharma	0.83
FMCG	0.55
Realty	0.31
Automobile	-0.78
Textile	-0.87
Telecom	-0.97
Finance	-1.04
Media	-1.14
Fertilisers	-1.43
Hotels	-2.12
Oil & Gas	-2.21
Transport	-2.47
Infrastructure	-3.16
Capital Goods	-3.71
Cement	-3.88

 

 

 

 

 

 

 

 

 

  

OI Gainers				OI Losers
SECTOR	% OI Chg	% Change in CM		Symbol	% OI Chg	% Change in CM
COLPAL	90.37	0.54%		NUCLEUS	-38.73	2.70%
NICOLASPIR	70.45	-0.48%		NETWORK18	-20.31	-0.51%
IRB	26.5	10.22%		BEML	-16.7	2.30%
BEL	22.44	0.38%		CROMPGREAV	-13.32	5.13%
BHUSANSTL	19.53	2.58%		CUMMINSIND	-12.21	0.83%
RENUKA	18.4	6.96%		ESSAROIL	-10.85	-0.74%
JINDALSAW	16.31	1.46%