Equity Market Update for -  May 09, 2008 

Equity Markets For The Day

The sensex opened at 17,020.79 and after few minutes of trading moved up in the positive to trade on a flat note. The market was volatile in the noon deals. Later it plunged below 17k touching an intraday low of 16,678.94, wrapping the day on a weak note. While the broad-based NSE Nifty skidded 99 points, or 1.95% at 4,982.60.

BSE Mid-cap Index closed 2.25% down, while the BSE Small-cap Index fell 2.11%.

Among sectoral indices, the BSE Oil & Gas was worst hit, shed 4.71% followed by Realty and Bankex which fell over 2% each, while BSE Metal, Power and Auto was down 1% each

Biggest index losers were Jaiprakash Associates which plunged over 6%, to close at Rs 251.30, RIL dropped 5.19% to Rs 2527.65 and REL lost 4.45% to close at Rs 1332.05. Other losers were ACC, HDFC Bank, Cipla, TCS, BHEL, ICICI Bank and L&T also traded lower.

Bharti Airtel and ITC moved up 1% each followed by Wipro, Satyam and Grasim.

Out of the total 2,784 shares traded at the BSE, 704 advanced, 2,019 declined while 61 remained unchanged.

 
INDEX CLOSE POINTS %CHANGE
NIFTY 4983 -100 -2%
SENSEX 16737 -344 -2%
 


                TOP 3 GAINERS (source: nseindia.com)

GAINERS LAST PRICE % GAIN
Bharti Airtel 842 2.0
ITC 218 1.5
Wipro 501 0.8
TOP 3 LOSERS
LOSERS  LAST PRICE % LOSS
Jaiprakash 251 6.6
Reliance 2528 5.2
Reliance Energy 1332 4.5

 

 

 Debt Market Update for  May 09, 2008 

MIBOR

6.06%


FOREX

$ Rupee 41.57/41.61
1 year fwd 1.14/1.19

WPI INFLATION 

7.61%


CP BENCHMARK

90 Day 7.95%-8.15%


 

G SEC YIELD

30 year (8.33% GOI 2036) 8.37%
10 year (7.99% GOI 2017) 7.93%
US 10 YR. yield 3.73%
   

NEXT AUCTION AS PER CALENDAR

   04-11th May 08- 5-9 yrs-Rs.6000cr, 20Yr&above-Rs.4000cr
 
 

TREASURY BILL AUCTION

TENOR SIZE DATE CUT OFF PREVIOUS CUT OFF
91 day 3000CR 7-May 7.31% 30-Apr 7.35%
182 day

1000CR

30-Apr 7.44% 16-Apr 7.59%
364 day 1000CR 7-May 7.54% 23-Apr 7.68%

YIELD COMPARISON

SECURITY TODAY 1 D Ago 1 Wk Ago  1 Mt Ago 
  09-May 08-May 02-May 07-Apr
8.24% GOI 2018 7.93% 7.88% 7.99% 7.92%
7.99% GOI 2017 7.93% 7.94% 7.90% 7.92%
8.33% GOI 2036 8.37% 8.39% 8.35% 8.53%
CORPORATE  BOND MARKET

Market Behavior and sentiment for the day: Corporate bonds remained lack luster throughout the day.

AAA BENCHMARKS / SPREADS
1Y 9.15 135.37
2Y 9.35 129.40
3Y 9.45 129.00
4Y 9.55 136.92
5Y 9.55 130.68
6Y 9.55 127.04
7Y 9.58 126.39
10Y 9.60 128.39
     
     
     
     
     
     
     
G-sec market comments: Markets rallied in the first half of the day due to short covering of positions and auction cut offs came as per expectations. The second half witnessed sell off due to expectations of further MSS and auctions.

The 10 year benchmark closed  at 7.93% against previous close of 7.94%.

Liquidity was relatively easy with over night rates below 6% levels during the day.

Markets are expected to remain range bound and will take cues from RBI announcements.


Contact Us / Sign up a friend :
Sources: NSE MIBOR, Top Gainers and Losers :- nse india.com.  Dollar/ Rupee Rate, Forward Premia, Repo amounts, Sensex / Nifty details, Tbill auction details, Auction details :- Reuters.  Gsec Benchmark and U.S. yields, Corporate yields :- Reuters, Bloomberg & RMF Team.  CP benchmark :- Bloomberg and RMF Fund Managers. FII flows :- sebi.gov.in
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