Wednesday, 5 September, 2007

Sensex end near days low amid choppy session

Sensex went down 19.2 points at 15446; slips 135 points from days high. Nifty fails to closes above 4500 for 2nd consecutive day. Nifty futures discount widens to 60 points vs 45 points yesterday
2007-09-05 16:16

Markets end at near days low amid choppy session; volatility was seen in last half an hour. Choppiness was seen ahead of Fed's Beige Book & BoE & ECB interest rate announcement.

Sensex went down 19.2 points at 15446; slips 135 points from days high. Nifty fails to closes above 4500 for 2nd consecutive day. Nifty futures discount widens to 60 points vs 45 points yesterday.

BSE Oil & Gas, Cap Goods Indices down over 0.75% CNX Midcap Index down 0.3%; SBE Small-cap Index ends flat, NSE Advance Decline ratio at 5:6. Total market turnover at Rs 58718 vs Rs 54570.65 cr on Tuesday

CURRENCY MOVEMENT
Rupee appreciates by 17 bps at 40.91 (hits intra-day high of 40.89)
Yen depreciates by 7 bps at 115.94 (hits intra-day low of 116.47)

F&O SNAPSHOT
Nifty futures discount at 45 points Vs 45 points yesterday
Nifty futures add 21.8 lakh shares in OI
Nifty futures turnover at nearly 25% of total FNO turnover
Long positions seen in fertilizer, sugar, pharma & some specific stocks
Fresh shorts seen in metal, telecom and some large cap stocks

Long Positions
Fertilizer/ Chemicals: Triveni Eng, GNFC (short covering)
Sugar: Balrampur Chini, Shree Renuka Sugar, Baja Hind
Non-Index stocks: Escorts, Triveni Eng, IDBI, LIC Housing Fin, DLF, Punj Lloyd
Power: Tata Power, NTPC, Suzlon
Pharma: Sun Pharma, Cipla, Matrix

Fresh Shorts
Metal: SAIL, Hindalco, Tata Steel
Telecom: Bharti Airtel, R Comm
Others: ITC, GMR Infra, RIL, JP Hydro

Short Covering
Ashok Leyland, Orchid Chem, Andhra Bank, GNFC, Cummins, BILT

BUZZING STOCKS
Shreyas Shipping: acquires 51% stake in Haytrans India
Gayatri Projects: bags order worth Rs 311.89 cr from Orissa govt
L&T: consortium bags order worth Rs 1,205 cr from Bhushan Steel
Raj Rayon: rub-off effect of textile space buzzing
SBI looking to raise Rs 18,000-20,000 cr via rights issue: Sources
Ambika Agar: has gained nearly 65% in last 4 days