Market makes a comeback after hitting lower circuit in the opening trade. It was the biggest ever swing recorded by markets during the day; Sensex swings 1534 pts. Sensex was down 336 pts at 18715; recovered nearly 1400 pts from days low. Nifty was down 108 pts at 5537; recovered nearly 450 pts from days low. Recovery was led by IT stocks.
Market makes a comeback after hitting lower circuit in the opening trade. It was the biggest ever swing recorded by markets during the day; Sensex swings 1534 points. Sensex was down 336 points at 18715; recovered nearly 1400 points from days low. Nifty was down 108 points at 5537; recovered nearly 450 points from days low. Recovery was led by IT stocks in which TCS was up 2.5%, HCL Tech was up 1.5%, Satyam, Infy was up over 1%. Index gainers were Siemens, up 3% and ABB, up 1.8%. NSE Advance Decline ratio stood at 1:4.
Market witnessed all time high turnover at Rs 1.33 lakh crore Vs Rs 1.23 lakh crore on Tuesday while NSE F & O turnover was at Rs 98396 crore (previous high was Rs 1 lakh crore).
Stocks Recovery
| Stocks | Recovery from lows (%) |
| HCL Tech | 26 |
| Siemens India | 20 |
| RIL | 20 |
| REL | 20 |
| ABB | 18 |
| Unitech | 18 |
| Bajaj Auto | 17 |
| RPL | 17 |
| SAIL | 16.5 |
| Suzlon Energy | 16 |
| Reliance Comm | 15 |
| Hindalco | 14 |
| Sterlite Industries | 12 |
| Nalco | 12 |
| ONGC | 12 |
Currency Movement:
Rupee depreciated by 47 bps at 39.535; hits intra-day low of 39.955 while Yen depreciated by 20 bps at 116.85.
F&O Snapshot:
Nifty futures discount was at 3 points Vs 2 points on Tuesday; added lakh shares in OI. Nifty turnover was at Rs 31250 crore. Nifty 5600, 5700 call seen most active during the day while Nifty 5500, 5400, 5000 put seen most active during the day.
IT Stocks Satyam, Infosys, TCS saw short covering.
Unwinding of long positions:
RPL, IDBI, JP Hydro, Idea, IFCI, GMR Infra, Nagarjuna Fertilizers saw huge unwinding
Triveni Eng, Arvind Mills, TTML, and DLF also saw unwinding pressure
Banking stocks: Allahabad Bank, Dena Bank, Vijaya Bank, Andhra Bank, Syndicate Bank
Fresh Shorts was seen in:
Power stocks: NTPC, Tata Power, REL
Banking stocks: ICICI Bank, IndusInd Bank, UBI, BoI
Realty stocks: HDIL, Omaxe
Others: Balrampur, Ashok Leyland, Alok Industries, Tata Motors
Fresh Longs was seen in:
RNRL, RIL, HCL Tech, Wipro
Global Markets:
Hang Seng was up 1.2%, Strait Times was up 0.76% and Korea, Nikkei, Shanghai, Thailand were down nearly 1% each.
