Bankex makes the most of market rally

News Flash

Oct-Dec crude steel output at 1.5MT, up 17% (YoY)
Tata Steel sales decline 14% to 1.07MT
India likely to send representative for OPEC meet in Feb
SRSR Holding's stake down to 3.5% vs 5.13% in Satyam
Goldman Sachs cut China GDP forecast to 6%
Saregama India gets into big budget film production
Weak Q3 earnings reflecting current stock prices
Crude futures higher;breaches $50/bbl in day trade
Urgent OPEC meeting to take place in Kuwait in Feb
Strike not to hit operations of most refiners
Strike not to affect ONGC, Oil India output
December exports to fall 1.6% (YoY): Sources
Apr-Dec exports at $130bn vs $113bn (YoY): Sources
India FY'09 export seen at $175bn: NW
Rupee closes at 48.69/$ vs 48.56/$ on Monday
Meet to discuss the demand supply situation: Sources
Meet to discuss situation post Jan output cut: Sources
Meet to take stock of US leadership, eco policy: Srcs
Non-members participating in the meeting: Sources
India too likely to send representative for meet: Srcs
Emergency OPEC meeting to take place in Kuwait
Emergency OPEC meeting to take place in February
Don't expect RBI to put cap on reverse repo: NW
No rationale behind RBI cap on reverse repo: NW
Sensex closes up 60 pts; Nifty lower by 8 pts
Ambuja Cements up 9%, Grasim up 8%, M&M up 7.4%
ACC up 7%, Satyam up 7%, HDFC Bank up 5.3%
BSE Advances at 47.74%, Declines at 48.77%
Sensex closes up 101 pts; Nifty closes flat
Saregama India gets into big budget film production: Srcs

Updated: 25/03/2008 | 12:00 AM IST

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Capital Market

Tuesday, March 25, 2008 (New Delhi)

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The BSE Sensex was up 543.88 points or 3.55% to 15,832.78 on easing credit worries in United States following JP Morgan Chase and Co's improved offer to buy Bear Stearns.

All sectoral indices on BSE advanced. The BSE Consumer Durables index (up 3.76% to 3,623.69), the BSE Power (up 3.90% to 3,078.44), the BSE Metal index (up 4.22% to 13,327.18), the BSE Realty index (up 4.42% at 7,106.81), the BSE Oil and Gas index (up 3.08% to 10,030.26), and the BSE IT index (up 4.67% to 3,581.80), outperformed the Sensex.

The BSE Auto (up 1.89% at 4,487.51), the BSE Health Care index (up 1.83% at 3,746.29), the BSE Capital Goods index (up 3.45% at 13,682.39), The BSE TecK index (up 4.46% to 3,051.43), the BSE PSU index (up 2.89% to 7,416.27), the BSE FMCG index (up 1.25% at 2,207.35), underperformed the Sensex.

The BSE Bankex had underperformed the market over the past one month till 24 March 2008, declining 23.70% compared to the Sensex’s fall of 11.87%. It had also underperformed the market in the past one quarter, declining 30.24% compared to Sensex’s decline of 22.99%.

ICICI Bank (up 6.02% to Rs 854), State Bank of India (up 4% to Rs 1712), Axis Bank (up 10.10% to Rs 790.20), and HDFC Bank (up 3.56% to Rs 1385), were the key gainers from BSE Bankex.