Markets open strong but fail to hold on and closed in the red in line with Asian peers. Sensex was down 65 pts at 19633 while Nifty ends flat at 5907. Sub-100 price stocks continued to outperform. Nifty Junior was up 4%, CNX Midcap Index was up 2.9% and BSE Small-cap Index was up 2.8%.
Markets open strong but fail to hold on and closed in the red in line with Asian peers. Sensex was down 65 points at 19633 while Nifty ends flat at 5907. Sub-100 price stocks continued to outperform. Nifty Junior was up 4%, CNX Midcap Index was up 2.9% and BSE Small-cap Index was up 2.8%. BSE Auto Index was up 2.4% in which Bajaj Auto was up 3.6%. Index Gainers were Siemens, up 5.3%, ACC, up 4.3%, Cipla, up 3.8% and Sun Pharma, up 3.6%. OMCs saw profit booking. BPCL & HPCL were down over 4% each and IOC was down over 3%. In Sugar stocks, Balrampur was up 11%, Triveni Engineering was up 19% and Bajaj Hindusthan was up 6%. In Auto, TVS Motor was up 12%, Escorts was up 12%, Ashok Leyland was up 6.7% and LML was locked at 5%. In Hotel sector, Indian Hotels was up 4.9%, Magnum Ventures was up 10%, EIH was up 5.3% and Jaypee was up 5%. In Healthcare sector, Orchid Chem was up 9.7% and Nicholas Piramal was up 5.9%. In Realty space, Mahindra Gesco was up 11.7% and Orbit Corp was up 11%. In Banking sector, Centiurion Bank of Punjab was up 14% and Vijaya Bank was up 13.8%. In Refineries space, Essar Oil was up 6%, Chennai Petro was up 4.3% and Bongaigaon Refineries was down 3.5%. NSE Advance Decline stood at 4:1. Total market turnover was at Rs 78,490 crore Vs Rs 89,336 crore in last trading session.
FNO Snapshot:
Nifty futures added 9.7 lakh shares and were at 21 point premium. Nifty 6200 Call added 1 lakh shares in OI. Nifty 5800 Put added 1 lakh shares in OI. 5800-6200 is emerging as a trading zone. FNO turnover was low as most of action was seen in sub-100 price stocks.
Sectors:
Auto, Banks, Cement witnessed maximum OI buildup
Stock Futures added close to 4.5 crore shares in OI
Stocks in F&O Curb: JP Hydro, Arvind Mills, Adlabs Films, IFCI, TTML, SRF, Oswal Chemicals, Nagarjuna Fertilizers, & Essar Oil saw unwinding at higher levels
Stocks out of curb:
Bongaigaon Refineries: Down 4.8%; added 13.86 lakh shares
Power Grid: Up 4.4%; added 71.68 lakh shares; strong CoC seen
Star performers: Strong CoC seen in all:
TTML: Up 18.7%; sheds 48 lakh shares
Triveni Engineering: Up 20%; added 12.9 lakh shares
Vijaya Bank: Up 15.2%; added 29.3 lakh shares
Dabur India: up 15%; added 19.44 lakh shares
Aptech: up 14.5%; added 3.6 lakh shares
Fresh long were seen in:
Auto: Ashok Leyland, Escorts, TVS Motor
Cement: Birla Corp, Jaiprakash Associates
Construction: HCC, Nagarjuna Construction
Banks: Dena Bank, Syndicate Bank, Central Bank of India, Union Bank, OBC
Misc: Alok Ind, GMR Infra, IDBI, Gateway Distriparks, Reliance Capital, Power Grid, and Indian Hotel
Buzzers:
JHS Svendgaard: Close to $10-12 Mn overseas acquisition, reports sources.
Ashok Leyland: Plans to raise $ 200 Mn for expansion through ECB by Dec, reports NW18.
Gitanjali Gems: Acquires US-based retail jewellery chain Rogers Inc for $ 20 Mn.
Plethico Pharma: Acquires US-based Natrol for $ 80.7 Mn to help double revenues to Rs 1,000 crore.
Godrej Industries: At upper circuit, hits 52-week high; prices Rs 600 crore QIP issue at Rs 215/share.
Centurion Bank of Punjab: Eyes commercial farming sector in Punjab, reports PTI. Aims to disburse loans of Rs 1,500 crore to state over 2 years. Block deal of 50 lakh shares on NSE at Rs 46/share.
Escorts: Hits 52-week high, volume over 12x 10-day average; buzz of Rs 1500 crore land deal. Company has reportedly denied market talk of possible land sale.
HB Stock Holding: Makes open offer for DCM Shriram at Rs 70/share (currently holds 12.77% stake in Co).
India Cements: Close to 52-week high; board approves raising up to $ 150 Mn via GDR/FCCB issue.
Lokesh Machines: Surges with vol over 21x 10-day average; still off 52-week high of Rs 181.
Global markets today:
Asian markets came off their day's highs to end lower after a volatile session. Hang Seng Index fell 0.6%, declining for a 3rd session. Reports are that China has clamped down on illegal fund flows from Chinese bank accounts into Hang Seng stocks. Shanghai Composite was down nearly 1%, marking its 11th decline in 13 trading days in November. Reports are that Chinese authorities have imposed restrictions on bank lending. Straits Times Index was down 0.85%. Country's economy expanded 4.3% in the Q3, falling short of market expectations. In Taiwan, FIIs sold equities worth $ 146 Mn in today’s trade (Prov) and FIIs have sold equities worth $ 1.77 Bn during last week there.
