Monday, 13 August, 2007

Strong close for markets after intra-day jitters

Markets closed on a strong note at the end of the day after intra-day jitters. Sensex was up by 149 points at 15017.2 while Nifty was up by 40 points at 4374. CNX Midcap Index was up 1% while BSE Small-cap Index was up 1.6%. BSE Auto Index was up 1.9%. The gainers were Tata Motors, up 3.5%, MUL, up 2.8%, M&M, up 2.7% and Bajaj Auto, up 2%. BSE FMCG Index was up 1.5%, HUL, up 4%. BSE Metal, Healthcare Indices were up over 1% each.

Index Gainers were Tata Power, up 5.5%, Ambuja Cement, up 2.5% and Sterlite, up 2.3%. BSE IT Index was the sole loser; TCS, Infosys, Satyam were down over 0.50% each. NSE Advance Decline ratio stood at 8:3. Total market turnover stood at Rs 43576.72 crore vs Rs 65344.57 crore on Friday.

Rupee appreciated by 2 bps at 40.62; hits intra-day high of 40.52 while Yen appreciated by 40 bps at 117.82.

F&O Snapshot:
Nifty futures discount trims to 13.5 points vs 34 points discount seen on Friday. Nifty futures added 15.5 lakh shares in OI. Short covering was seen in biggies like RIL, HUL, Reliance Communication, SAIL, Tata Motors, Bharti etc. Fresh shorts were seen in realty/ infrastructure stocks like Unitech, Sobha and IVRCL Infra. Fresh long were seen in auto & financials stocks.

Fresh Long Positions:
Auto: Bajaj Auto, M&M, MUL, TVS Motor except Tata Motors (short covering)
Financials: IDBI, IDFC
Banking stocks: Vijaya Bank, Union Bank of India, Bank of Baroda and SBI
Power stocks: Tata Power, CESC,
Chemical & Fertilizer stocks: Nagarjuna Fertilizers, Oswal Chemicals
Other stocks: RNRL, Ambuja Cement, PFC, Indian Hotel

Short Covering:
Large caps: RIL, HUL, Reliance Communication, SAIL, Tata Motors, Bharti etc
Other stocks: IFCI, Ansal Properties, Andhra Bank

Fresh Shorts:
Punj Lloyd, Kotak Mahindra Bank
Realty/ infra stocks: Unitech, Sobha, IVRCL Infrastructure

New 52-week high:
RPL
IDBI
IFCI
Orbit