|
STAY GUARDED
Markets witness a historical low.
The 30 share index, Sensex witnessed the biggest ever fall in history
today. The index opened with a negative gap of 94 points and continued to trade weak through out the day. Relentless
selling pressure was seen among the traders in frontline stocks.
Both Sensex and Nifty tanked around 9% a piece as Bears took a commanding
position in today`s trading. Weak global cues and sustained selling pressure by the traders pulled the market deep in the
red. The market lost 2000 points and was trading below 17k at one point of time. It was shut down and then resumed. Later
it recovered 700 points from the day`s low. This was the biggest ever intraday fall for Sensex and Nifty.
The Indian
markets broke all the important technical and psychological levels.
Midcap Index was down 1,011.72 points (11.38%)
and Small Cap Index shed 1,248.79 points (10.27%) on Monday.
BSE Sensex tumbled 1,408.35 points, or 7.41%, to close at 17,605.35 while the broad-based NSE Nifty closed
at 5,208.80, down 496.5 points, or 8.70%.
Global markets
Asian stocks slipped on Monday on recession fear in US economy
and slow down in global growth. Japan`s Nikkei 225 Stock Average fell the most since October 2005, while Hong Kong`s Hang
Seng Index dropped to its lowest since the September 2001 attacks.
Market Statistics
Out of
the total 2,811 stocks traded at the BSE, 139 advanced, 2,657 declined while 15 remained unchanged.
Amongst the sectoral
indices, BSE Auto plunged 9.39%, FMGC dipped 5.62%, Bankex shed 6.95%, Realty dropped 12.83%, IT dipped 5.73% and Power declined
10.94%.
Movers and Shakers
Laggards at the BSE Sensex were REL, which slumped 16.38% to close
at Rs 1,776.05, ACC dipped 15.85% to Rs 727.60 and Bajaj Auto declined 15.21% to end the day at Rs 2,064.35. NTPC, Reliance
Comm, Hindalco, DLF, Grasim, RIL and Tata Motors also slipped.
There were no gainers at the BSE Sensex.
Top
Volumes
Ispat Industries topped the volume chart with 25,548,213 shares followed by Reliance Petroleum with
24,651,972 shares and NTPC with 10,214,651shares.
Top Turnover
RIL topped the turnover chart
with Rs 6,636.3 million followed by REL with Rs 4,663.7 million.
Results
IT
major, Satyam Computer Services on Consolidated basis (as per Indian GAAP), posted
a 28.59% jump in net profit at Rs 4,336.30 million for the quarter ended December 2007 as compared to Rs 3,372.30 million
for the quarter ended December 2006. Total Income has increased 35.59% to Rs 22,660.50 million for the quarter ended
December 2007 from Rs 16,712.90 million for the quarter ended December 2006.
Oil & Natural Gas Corporation (ONGC) registered a
fall of 6.46% in net profit to Rs 43,665.40 million for the quarter ended December 2007 as compared
with Rs 46,683.10 million in the corresponding quarter, last fiscal. Total income for the quarter dipped 1.75%
to Rs 159,838.10 million from Rs 162,690.10 million in the corresponding quarter, last year.
Kotak Mahindra Bank reported a jump
of 2.14 times in consolidated earnings in the quarter ended Dec. 31, 2007, to Rs 3,637.33 million compared with Rs 1,695.77
million in the the same quarter, last year. The consolidated total income for the quarter surged 2.08 times to Rs 24,827.16
million compared with the corresponding quarter, a year ago.
Gati announced today a jump of 2.22 times
in earnings in the quarter ended Dec. 31, 2007, to Rs 124.90 million compared with Rs 42.60 million in the prior year period.
The earnings per share (EPS) for the quarter surged 2.51 times to Rs 1.51 compared with Rs 0.60, a year ago.
Bharat Forge reported today a drop
of 7.79% in consolidated earnings in the quarter ended Dec. 31, 2007, to Rs 709.57 million compared with
Rs 769.57 million in the same quarter, last year. The consolidated total income for the quarter climbed 6.01% to Rs 10,994.35
million compared with the corresponding quarter, a year ago.
|
