Another day of outperformance of Indian markets vis-à-vis Asian peers. Sensex was down 87 points at 19698. It recovered 225 points from days low. Nifty ends flat at 5906, recovered 90 points from day low.
Another day of outperformance of Indian markets vis-à-vis Asian peers. Sensex was down 87 points at 19698. It recovered 225 points from days low. Nifty ends flat at 5906, recovered 90 points from day low. BSE FMCG Index was up 4.3% led by ITC which was up 8.2% and HUL was up 1.1%. Refineries and OMCs continue to dominate the market. BSE Oil & Gas Index was up 1.3%, in which HPCL was up 5.6%, BPCL was up 1.8% and IOC was up 3.9%. CNX Midcap Index was up 1.2% while BSE Small-cap Index was up 1.5%. Essar Steel and Essar Shipping saw a huge crack in afternoon trade. Management to offer only the discovered price for delisting, lose more than 20% from day’s highs. BSE Metals Index was down 1.4%, in which Hindalco was down 5.3% and Nalco was down 4.3%. Fertilizer stocks buzzed. Chambal Fertilizers was up 29%, Nagarjuna Ferilizers was up 15% and Deepak Fertilizers, FACT, and NFL were up 10%. Tea stocks buzzed. McLeod Russel was up 19%, Jay Shree was up 17%, Assam Co was up 5% and Tata Tea was up 4.4%. Non-Index gainers were Essar Oil, up 21% Vs 27% yesterday, in which 9 crore shares change hands. NSE Advance Decline ratio stood at 2:1. Total market turnover was at Rs 89,336 crore Vs Rs 96,165 crore yesterday. FNO turnover was at Rs 61,505 crore Vs 65,894 crore yesterday.
FNO Snapshot:
Nifty futures added 13 lakh shares; primarily intraday trade. Some of the stocks witnessed action in last hour of trade, eg; Chambal Fertilizers and Escorts. Chambal Fertilizer surges in last hours. It added 41.8 lakh shares and was up 35%. FMCG emerged as strongest sector of the day. ITC was up 8.4%; it added 37.7 lakh shares.
Maximum Turnover was seen in following stocks:
Essar Oil: Rs 3630 crore
MRPL: Rs 2678 crore
RIL: Rs 2449 crore
Nagarjuna Fertilizers: Rs 1960 crore
Star Performers were:
Hinduja TMT: up 27%; added 1 lakh shares
Essar Oil: up 22%; added 90.8 lakh shares; strong CoC seen
Chambal Fertilizers: up 34%; added 41.8 lakh shares
Hotel Leela Ventures: up 14%; added 49.7 lakh shares
Nagarjuna Fertilizers: up 14.4%; added 20 lakh shares
Ballarpur Industries: up 14%; added 11.4 lakh shares
Escorts: up 22%; added 16.6 lakh shares; strong CoC seen
Short Covering was seen in:
Misc: MRPL, Kotak Mahindra Bank, Bombay Rayon, Lanco Infratech, Indus Ind Bank, Alok Industries, IDFC
Fresh Shorts were seen in:
Heavy Weights: L&T, ICICI Bank, Reliance Communication, NTPC, Tata Steel, Infosys
Long Unwinding was seen in:
F&O Curb: JP Hydro, Power Grid, RPL
Misc: REL, Arvind Mills, Neyveli Lignite, Bajaj Hindustan
Global Markets Today:
MSCI Asia Pacific Index fell about 2% and financial stocks were the biggest contributors to this decline.
Hang Seng Index was down 4%. Media reports that Beijing had capped bank withdrawals from banks. Move to prevent investors moving money illegally into Hong Kong stocks.
Other Asian markets like Nikkei, Jakarta, Korea, Straits Times were down over 1% while Shanghai was down 1%. Nikkei was down 2%; Bank Of Japan Deputy Governor said growth could be threatened if the US housing slump were to spread.
In Taiwan, FIIs sell equities worth $ 593 million in today’s trade (Prov). FIIs net sell during this week were$ 1.77 billion while FIIs sold $ 1.35 billion for week ended Nov 9.
