Markets slipped in late trade on profit booking in rate sensitive stocks. Sensex ended down 195 points at 19783.5. It slipped nearly 455 points from day’s high. And Nifty ended down 37 points at 5868, slipped nearly 108 points from day’s high.
RBI Monetary policy announced today in which RBI hiked the CRR by 50 bps while repo and reverse repo has been kept unchanged. Markets slipped in late trade on profit booking in rate sensitive stocks. Sensex ended down 195 points at 19783.5. It slipped nearly 455 points from day’s high. And Nifty ended down 37 points at 5868, slipped nearly 108 points from day’s high. BSE Auto Index was down 2% in which MUL was down 8.6%, M&M was down 7% and Tata Motors was down 4.9%. BSE Bank Index ended flat while BSE Metal Index gained the most.
RPL continues to surge and was up 5.2%. It closed over market-cap of Rs 1-lakh Cr for 1st time ever. Capital good stocks continued to gain in which ABB was up 5.8%, Siemens was up 2.7%, BHEL was up 1.5% and L&T was up 1%. Midcap tyre companies seeing re-rating after results. Ceat profit jumped 6.5 times, Apollo Tyres net profit jumped 3 times. NSE Advance Decline ratio stood at 1:2 and total market turnover was at Rs 1.25 lakh crore.
Currency Movement
Rupee appreciated by 18 bps at INR39.35/$1, on account of CRR hike while Yen depreciated by 26 bps at Yen114.79/$1.
F&O Snapshot
Fresh shorts were seen in Nifty futures in late trade and discounts widened to 57 points in last minute. Nifty future added 13.5 lakh shares in OI and the turnover was near 20% of total FNO turnover. Banking stocks were mixed after CRR hike, BoI, UBI, Dena Bank saw addition of long positions. Large cap banking stocks, like PNB, SBI saw fresh shorts. Auto stocks saw fresh shorts/ unwinding of long positions on CRR hike. Sugar stocks saw unwinding of long positions. Short covering was seen in Reliance Capital, Adlabs, JP Associates, RPL, RNRL and Voltas while fresh longs were seen in DLF pre result, added 3 lakh shares.
Refinery stocks buzzed the most in FNO. MRPL was up 26%, added 62.8 lakh shares in OI while Chennai Petroleum was up 9% and it added 72000 shares in OI and Bongaigaon Refinery was up 8%, it added 6.25 lakh shares in OI.
