Indian mkts outperform Asian peers after FOMC rate cut. Today's was highest ever closing for benchmark Indices for second consecutive day. Sensex was up 85 pts at 20376, it recovered over 300 pts from day’s low. Nifty was up 62 pts at 6,159, it recovered over 150 pts from day’s low.
Indian markets outperform Asian peers after FOMC rate cut. Today's was the highest ever closing for benchmark Indices for second consecutive day. Sensex was up 85 points at 20376, it recovered over 300 points from day’s low. Nifty was up 62 points at 6,159, it recovered over 150 points from day’s low. CNX Midcap, BSE Smallcap & BSE Realty Indices hit lifetime highs for second consecutive day. BSE Oil & Gas & BSE Metals Indices hit lifetime highs. CNX Midcap was up 1.9% while BSE Smallcap Index was up 1.8%. BSE Metals was up 3.1%, in which Nalco was up 11.6% and SAIL was up 3.8%. BSE Realty Index was up 2.9%, in which Ansal Properties was up 22.5% and HDIL was up 14%. BSE Oil & Gas Index was up 1.1%, in which GAIL was up 4%. BSE IT Index was down over 2%, in which Infosys was down 3.4% and Satyam was down 2.6%. New Nifty entrants performed well. Idea was up 4.3% and Cairn India was up 3.3%. SAT vacates interim stay order on Essar Steel delisting, stock was down 10%. Edelweiss Cap closed at Rs 1,510 Vs listing price at Rs 1443 (Issue Price: Rs 825). Renaissance closed at Rs 165 Vs listing price at Rs 190 (Issue Price: Rs 150). Advance-Decline ratio was at 7:3. Total market turnover was at Rs 1.03 lakh crore vs Rs 86,321 crore yesterday.
FNO Snapshot:
Nifty futures premium was at 19 pointsm, it added 39.8 lakh shares. Nifty 6000 Dec put added 3 lakh shares (26% OI increase). Nifty 5900 Dec put 2.6 lakh shares . Realty, sugar stocks saw good OI buildups. IT stocks saw fresh short buildup. Stock futures added 5.2 crore shares in OI (prov). Significant F&O turnover increased. F&O Turnover was at Rs 71385 crore vs Rs 59422 crore yesterday.
Star Performers:
Ansal Properties: up 24%; added 5.24 lakh shares; Strong CoC seen, 2nd day running
HDIL: up 14%; added 1.23 lakh shares; Strong CoC seen
Jindal Saw: up 14%; added 1.66 lakh shares
Nalco: up 10.6%; added 3.5 lakh shares
Praj Industries: up 10.7%; added 17 lakh shares
High Turnover:
RNRL: Rs 2853 crore
Reliance Communication: Rs 2169 crore
Reliance Capital: Rs 1946 crore
Jindal Steel: Rs 1938 crore
Essar Oil: Rs 1632 crore
Reliance: Rs 1605 crore
Fresh longs were seen in:
Realty: Ansal Properties, HDIL, Omaxe, Unitech, DLF
Sugar: Shree renuka, Bajaj Hindustan, Triveni Engineering
Misc: Lanco Infratech, Ballarpur Industries, SRF, Andhra Bank , Deccan Aviation, Hindalco
Oil & Gas: RNRL, HOEC, Essar Oil
Metals: Hindalco, SAIL
Global markets today:
Asian Stocks fall most in 3 weeks. Asian stock decline after disappointment on Fed rate cut, discount rate cut. Taiwan was down 1.7%, Shanghai was down 1.5%, Straits Times was down 1.1%, Thailand, Nikkei were down nearly 0.8%, Nikkei was down 0.7%. Morgan Stanley said Japan may enter a recession. Hang Seng was down 2.4%. Hong Kong Monetary Authority cut its base rate by a 25 bps to 5.75%. Local banks, led by HSBC, announced reduction in prime lending rates. Property stocks were the biggest decliners after their recent run-up. In Taiwan, FIIs net sell equities worth $ 271 million in today’s trade (Prov). FIIs have net sold $ 177.5 million during this week till date.
