Markets at a glance

TRADING DESK

Return (%)

1 week1 month1 year BSE Sensex7680.22-1.290.9950.09 S&P CNX Nifty2357.05-1.111.6446.49 BSE-1004118.76-1.311.2250.04 BSE-200996.11-1.271.3847.96 BSE-5003213.76-1.192.3753.86 CNX Nifty Junior4972.05-1.910.4359.48 S&P CNX 5002094.90-1.022.7754.79 FII Net inflows (Rs cr)*306.80266.304864.3051161.90 MF Net inflows (Rs cr)*157.02494.452333.795979.22 BSE turnover (Rs cr)@3293.643114.303421.582312.80 NSE turnover (Rs cr)@5756.886053.786746.124808.50 Sensex P/E@16.0116.1516.0715.22   BSE-Auto3209.55-1.631.2746.36 BSE-Bankex4449.18-2.94-5.6977.65 BSE-Cap. Goods4381.29-0.169.2588.85 BSE-Cons Durable2407.14-1.372.55117.96 BSE-FMCG1359.670.113.3662.52 BSE-Healthcare3007.66-1.002.1333.00 BSE-IT Sector2880.14-0.391.8441.79 BSE-TECk1981.75-0.682.8048.73 CNX IT3075.250.363.0332.66 BSE-Metal6243.27-2.515.2746.64 BSE-Oil & Gas3568.45-1.290.7736.11 BSE-PSU4700.03-1.501.6742.93   Nasdaq2120.77-0.69-2.3714.62 Dow Jones10397.29-1.53-1.752.51 MSCI World1184.73-0.530.5815.10 MSCI Emgerging Markets604.760.092.2738.20 MSCI Emerging Asia252.00-0.63-1.3029.00 Rs/$43.690.250.51-5.64 Brent Crude (spot)$/Bbl66.232.7514.3159.92  Market breadth was decidedly negative last week. Of the 30 stocks that constitute the BSE Sensex, 23 ended up in the red. ICICI Bank was the biggest drag on the index. The stock declined 3.46 per cent to close at Rs 480.45, translating into a 20.56 point loss to the index.  Other banking stocks HDFC Bank (down 3.29 per cent at Rs 635.79) and SBI (down 3.09 per cent at Rs 780.35) were also among the losers. The losses in these two stocks along with that of HDFC and Tata Steel took out 60.39 points from the index. FMCG stock ITC added maximum points to the index. The stock gained 1.90 per cent to close at Rs 1716.25, which translated into a 9.04 point gain.  Most of the sectoral indices ended the week with losses. The BSE FMCG and the CNX IT Index were the only indices to record gains. The biggest loser was the BSE Bankex, which declined 2.94 per cent. Losses in top stocks like ICICI Bank, SBI and HDFC Bank were mainly responsible for the downsides in the index.  The BSE Metal index was the next biggest loser, declining 2.51 per cent. The two scrips with highest weighatge in the index, Tata Steel and Hindalco ended up in the red. On the positive side, the BSE FMCG Index gained 0.11 per cent, thanks mainly to upsides in ITC.  US Markets ended the week with losses, even as a slide in oil prices failed to reassure the investor sentiment. The Dow Jones ended the week at 10,397.29, its lowest close in more than seven weeks.  The Nasdaq closed lower for the fourth week in a row at 2120.77, down 14.79 points. The market mood was dampened by the declining consumer sentiment, after University of Michigan reported August's Consumer Sentiment Index at 89.1, below economists' expectations of 92.5. 
 

BULK DEALS
Date	Stock	Client	Deal Type	Quantity	Price (Rs)
22-Aug-05	Balasore Alloys	Allahabad Bank	Sell	620000	15.22
23-Aug-05	Patel Engineering	Fidelity Fund Mauritius	Buy	2500000	170.56
24-Aug-05	Deepak Fertilizers	Citigroup Global Markets	Buy	432044	73.89
24-Aug-05	SRF Ltd.	FID Funds (Mauritius)	Buy	330844	294.01
24-Aug-05	Crew B.O.S Products	Advantage Advisors	Buy	86700	174.19
24-Aug-05	Murudeshwar Ceramics	Tata Mutual Fund	Buy	92000	101.33
25-Aug-05	Matrix Laboratories	BNP Paribas	Sell	1200000	180.65
25-Aug-05	Aftek Info	ABN Bank London	Buy	1800000	121.00
25-Aug-05	Taneja Aerospace Aviation	Founders Asset Management	Sell	131867	89.43
25-Aug-05	Bal Pharma	Emerging Capital Advisors	Buy	77149	98.85
Source: NSE, BSE

 What to expect this week  Following the downsides last week, market players are predicting a further correction. The Sensex declined for five straight sessions before bouncing back towards the end of the week.  However, concerns about FII liquidity and rising oil prices have led to caution at the bourses. Oil price are ruling within striking distance of a record high of above $68 a barrel.  Foreign broking houses such as UBS have also expressed concerns about the high valuations in domestic markets. However, select stocks are likely to attract buying support.

The thought of weekend must have made bulls cheer up as there was nothing much to celebrate otherwise. While the Sensex crossed 7,900 not so long ago, most bets were on the date on which it will cross 8,000. Not to be. The bears were back in full strength for the next five sessions.

Frangipani hordes, too, played truant, as they preferred other investment destinations. The only saving grace was that there was some recovery towards the latter part of the week, mainly due to short-covering in the futures and options segment ahead of the expiry of August 2005 derivatives contracts.

There was a big deal between Home Maker Fund and Reliable Fund at the Rallis India counter. While the former was a buyer at the counter, Reliable is said to have sold some two lakh shares at Rs 345. Rallis India, a Tata group company, has been buzzing at the bourses on strong fundamentals.

The interest in the jewellery segment continues. While there have been many suitors for usual suspects like Rajesh Exports and Vaibhav Gems, there is one stock - Silver Smith India - which was away from the spotlight.

However, ABCDC Fund has decided to change all that. The fund was seen at the counter, buying some 40,000 shares at Rs 58 levels. Considering the fact that the stock prices of Rajesh Exports and Vaibhav Gems already run up quite high, ABCDC