Friday 17 August 2007

Sensex down 217 pts, Nifty down 71 pts

Nifty managed to close over 4100 while Sensex managed to close over 14000 mark. Sensex ended down 217 points at 14141.5. It recovered 362 points from days low. Nifty ended down 71 points at 4108. It recovered 100 points from days low. CNX Midcap Index was down 2% while BSE Small-cap Index was down 1.3%.

Market made smart recovery during the day in line with the global markets. Nifty managed to close over 4100 while Sensex managed to close over 14000 mark. Sensex ended down 217 points at 14141.5. It recovered 362 points from days low. Nifty ended down 71 points at 4108. It recovered 100 points from days low. CNX Midcap Index was down 2% while BSE Small-cap Index was down 1.3%. All the BSE Sectoral Indices ended in the red barring Reality Index. BSE Metal Index was down 4.7%, BSE IT Index was down 3% while BSE FMCG Index was down 2.3%.

Index Losers were HPCL, down 8.5%, Sterlite, down 7.2%, Satyam, down 5.8% and Tata Steel, down 5.4%. Index Gainers were RIL, up 0.80%, Sun Pharma, up 1.8% and Wipro, Siemens were up 1% each. NSE Advance Decline ratio stood at 1:4. Total market turnover was at Rs 86945.69 crore vs Rs 63845.27 crore on Thursday.

Rupee depreciated by 0.08% at 41.375 while Yen depreciated by 16 bps at 113.22 (hits intra-day high of 111.57 and intra-day low of 114.09).

Zylog Systems listed on the bourses today which closed at Rs 427.5 vs listing price of Rs 435 (issue price Rs 350).

Recovery in the Indices

Index

Low

Recovery (%)

Sensex

13779.88

2.62

Nifty 50

4002.2

2.64

CNX Midcap 100

5519.4

2.38

BSE Small Cap

7534.59

2.13

Index

Low

Recovery (%)

BSE Realty Index

6713.42

4.56

IT Sector

4356.76

3.3

Bank Index

7178.89

2.4

Healthcare Index

3410.08

2.26

Oil and Gas Index

7266.42

2.21

Capital Goods Index

11781.06

2.11

Auto Index

4506.67

1.2

FMCG

1796.16

0.86

Metals Index

9724.78

0.89

F&O Snapshot:

Nifty futures discount narrowed 15 points vs 35 points on Thursday (has narrowed to 6 & widened to 50 points during the day). Nifty futures turnover was 45% of total FNO turnover. Nifty futures added 56.6 lakh shares in OI. Short covering was seen in the reality stocks (Unitech, GMR) and stocks like L&T, Wipro, REL, and Jindal Stainless. Fresh shorts were seen in technology, metal & capital good stocks. Unwinding of long positions was seen in reality stocks(Lanco, Parsvnath, HDIL).

Long Positions were seen in the following stocks:

Nagarjuna Fertilizers was up 17%, added 1.33 crore shares in OI

RIL was up 1.2%, added 2.8 lakh shares in OI

IndusInd Bank was up 5.5%, added 5.7 lakh shares in OI

Other stocks where long position was seen India Cement, Bank of India, and Moser Baer

Short Covering was seen in the following stocks:

Realty: Unitech, GMR Infra, IVRCL Infra

Biggies: L&T, Wipro, REL, and Jindal Stainless

Other: Chambal Fert, MphasiS, LIC Housing & Triveni Eng

Fresh Shorts were seen in the following stocks:

Tech: Satyam, Patni, I-flex, TCS, Infosys

Metal: Tata Steel, JSW Steel, SAIL (unwinding)

Others; BHEL, DLF, ONGC, ABB

Unwinding:

Reality; Lanco, Parsvnath, HDIL

Others: Bongaigaon Refinery, Balrampur Chini, Praj Industries

Intra day recovery was seen in the following stocks:

Stock Name

Low

Recovery (%)

Indiabulls Finance

402.7

14.45

Indiabulls Real

403

14.14

India Infoline

506.65

11.97

Lanco Infratech

224.2

10.59

IDFC

105.3

8.93

Orbit Corp

403.3

8.36

Punj Lloyd

238.25

6.4

Unitech

455.3

6.31

IVRCL Infrastructure

319

6.24

Infosys

1743.15

6.2

Wipro

445

6.04

Reliance Communication

465.75

5.94

Reliance Energy

681

5.58

Bharti Airtel

750

5.33

Parsvnath Developers

275

5.02

GMR Infrastructure

727.5

4.74

HDIL

480

4.58

India Cement

205.25

4.51