End of Day Review - Wednesday, 09th January 2008

Sensex retreats from all-time high
9 Jan 2008, 1617 hrs IST,INDIATIMES NEWS NETWORK

MUMBAI: Volatility continued for second straight day on Wednesday as equities retraced from higher levels to close lower.

A weak opening in the European market dampened sentiment.

Bombay Stock Exchange's Sensex ended at provisional 20,839.33, down 34 points or 0.16 per cent. Earlier, the benchmark hit an all-time high of 21,113.13 but soon gave in to profit booking. It touched a low of 20,701.49.

National Stock Exchange's Nifty closed at provisional 6265.75, down 22 points or 0.35 per cent. It touched a high of 6,338.30 and low of 6,231.25.

Biggest Sensex gainers were NTPC (4.49%), HDFC (3.59%), Reliance Communications (2.05%), Hindalco Industries (1.7%), HDFC Bank (1.68%) and DLF (1.59%).

Mahindra & Mahindra (down 2.67%), BHEL (2.02%), ONGC (1.76%), ICICI Bank (1.73%), Ranbaxy Laboratories (1.65%) and ACC (1.52%) were the losers.

All sectoral indices, barring BSE IT Index and BSE Realty Index, ended in the red.

Market breadth remained negative on the BSE with 2130 declines outnumbering 763 advances.

European markets were witnessing selling pressure after UK's clothing retailer Marks & Spencer, plunged over 15 percent.

UK’s FTSE 100 was down 1.22 per cent at 6,279.80, Germany’s DAX was at 7,789.29, down 0.77 per cent.

Last trading day: Wednesday, 9 January

4:22 PM - The market closed weak with Sensex swinging 400 points and Nifty 100 points in intra day trade. Sensex closed at 20869, down 3 points and Nifty at 6272, down 15 points from the previous close. The CNX Midcaps Index was down 0.4% and BSE Smallcaps Index was down 1%. The market breadth was bad with advances at 343 against declines of 881 on the NSE. Top Nifty gainers included NTPC, HDFC, Reliance Communications, Grasim and REL while losers included RPL, BPCL, M&M, Unitech and Maruti Suzuki.

4:19 PM - In the IT space, Aftek, KPIT Cummins, Roltas and Infosys still look good for the long term, says Anil Maghnani, technical analyst, on CNBC-TV18. He is bullish on metal, realty, banking and oil and gas sectors.

4:14 PM - India is a long-term investment story due to its domestic demand, says Richard Titherington of JP Morgan AMC, on CNBC TV19. JP Morgan is bullish on the infrastructure space, domestic goods, finance and power sectors, he adds.

Gold prices at all-time high
9 Jan 2008, 1916 hrs IST,PTI

NEW DELHI: Gold prices zoomed past the all-time high levels and touched Rs 11,350 per 10 gram on the bullion market here on Wednesday on brisk buying by stockists, following the metal rising to record levels in global markets.

Standard gold and ornaments remained in hectic demand and gained Rs 200 each at Rs 11,350 and Rs 11,200 per 10 gram respectively. Sovereign also jumped by Rs 100 at Rs 9,050 per piece of eight gram.

Silver ready also attracting persistent buying support from industrial units and spurted by Rs 540 to Rs 20,100 per kilo and weekly-based delivery by Rs 600 at Rs 20,500 per kilo on speculative buying.

Silver coins also gained Rs 100 at Rs 25,400 for buying and Rs 25,500 for selling of 100 coins in line with general trend.

The market sentiment here turned bullish after reports of gold prices surging to a new high in the global markets on softening of dollar against major currencies and rising crude oil prices.

In Asian markets, gold rose by 13.54 dollar to an all-time high of 891.70 dollar an ounce and silver advanced 1.9 percent at 15.97 dollar an ounce.

Market men said aggressive buying by stockists and jewellery makers, who were influenced by reports of the precious metal soaring to records in Asia, led to a rise.

TOP 5 GAINERS

Symbol Curr.Price % Change

HDIL 1,357.75 12.19
ADITYA BIR 2,314.30 8.56
I-FLEXSOLU 1,585.40 8.18
BANKOFINDI 400.45 7.42
PUNJABTRAC 338.30 6.28

TOP 5 LOSERS

Symbol Curr.Price % Change

PARSVNATH 505.75 -8.08
RPL 232.05 -5.90
BPCL 463.50 -5.63
H C L INFO 251.30 -5.19
ENGINEERS 1,207.90 -5.00

TOP 5 VALUE STOCK
Symbol Curr.Price Value ('000)

RELINCECAP 2,859.60 3693168.80
RPL 232.05 3318512.95
RCOM 820.80 3085497.14
REL 2,565.45 2220695.03
RIL 3,031.95 1606131.47

WORLD INDICES

NIFTY 6,272.00 -0.25 %
SENSEX 20,869.78 -0.01 %
DOW 12,561.51 -0.22 %
NASDAQ 2,425.88 -0.60 %
FTSE 6,272.70 -1.32 %
NIKKEI 14,599.16 0.48 %