Markets sell off amidst global fears of US recession. Sensex was down 769 pts at 19261, it was off 770 pts from days high. Nifty was down 271 pts at 5777, it was off 260 pts from days high (Highest Intraday sell off). CNX Midcap was down 4.1% while BSE Smallcap Index was down 2.9%.
Markets sell off amidst global fears of US recession. Sensex was down 769 points at 19261, it was Off 770 points from days high. Nifty was down 271 points at 5777, it was Off 260 points from days high (Highest Intraday sell off). CNX Midcap was down 4.1% while BSE Smallcap Index was down 2.9%.
All sectoral indices ends in red. All Nifty stocks barring HUL ends in red. BSE Metals Index lead the fall from the front, the Index was down 7.3%, in which SAIL was down 7.3%, Nalco was down 6.6%, Sterlite was down 6.6%, Tata Steel was down 6.1% and Hindalco was down 5.8%. BSE Realty Index was down 5.6%, in which DLF was down 7.7% and Unitech was down 2.7%. BSE Oil & Gas Index was down 5.1%, in which RPL was down 6% and ONGC was down 5.9%. BSE Bank Index was down 3.7%, in which PNB was down 5.2% and SBI was down 3.9%. BSE Capital Goods Index was down 3.7%, in which BHEL was down 5.3% and REL was down 4.4%.
Advance-Decline ratio stood at 1:5. Total market turnover was at Rs 1.03 lakh crore vs Rs 90,029 crore on Friday. Total F&O turnover was at Rs 73,373 crore vs Rs 61,326 crore on Friday.
FNO Snapshot:
Major unwinding was seen from second half of trade. Nifty added 40.5 lakh shares in OI (prov). Nifty basis moves from 20 point premium to discount. Fresh shorts were seen at day end. Nifty December Futures turnover was around 26% of Total F&O turnover. Only 4 F&O stocks ends in the green. Stock futures added 57 lakh shares (prov) vs 2.2 crore share addition on Friday. Power, Metal and Auto stocks saw major unwinding. Heavyweights, Realty saw fresh shorts.
Biggest Losers were:
JSW Steel: Down 12%; Sheds 3 lakh shares
Essar Oil: Down 10.5%; Sheds 9.3 lakh shares
Aptech: Down 10.3%; Sheds 1.18 lakh shares
Hotel Leela: Down 9.6%; Sheds 2.6 lakh shares
HCC: Down 9.4%; added 7.2 lakh shares
TVS Motor: Down 9.2%; Sheds 11 lakhs shares
Praj Industries: Down 9.1%; Sheds 6.5 lakh shares
Vijaya Bank: Down 9%; Sheds 9.66 lakh shares
Major Unwinding was seen in:
Ispat Industries: Down 0.6%; Sheds 98.6 lakh shares; 16% OI
RPL: Down 6%; Sheds 51 lakh shares; 4% OI
TTML: Down 4.7%; Sheds 48.7 lakh shares; 6% OI
Power Grid: Down 5.6%; Sheds 24 lakh shares; 3% OI
Alok Industries: Down 5.7%; Sheds 14.9 lakh shares; 8% OI
Neyveli Lignite: Down 7%; Sheds 11 lakh shares; 6% OI
ITC: Down 3.4%; Sheds 10.75 lakh shares; 5% OI
High Turnover was seen in:
Nifty: Rs 19372 crore
RIL: Rs 2351 crore
IFCI: Rs 1980 crore
Triveni Engineering: Rs 1513 crore
RNRL: Rs 1344 crore
Ispat Industries: Rs 1248 crore
REL: Rs 1051 crore
Fresh Shorts were seen in:
Heavyweights: RIL, ONGC, Bharti Airtel, Tata Motors, Reliance Communication
Misc: Arvind Mills, IDBI, Oswal Chemicals, HCC, Idea Cellular, NTPC, SAIL, JP Associates,
Oil & Gas: HPCL, Cairn India,
Realty: Peninsula Land, Parsvanath Developers
Long unwinding was seen in:
Misc: RPL, TTML, Alok Industries, ITC, Nagarjuna Fertilizers, IDFC, Praj Industries, MTNL, Hotel Leela
Power: Neyveli Lignite, Power Grid, JP Hydro
Auto: TVS Motor, Ashok Leyland, Escorts
Oil & Gas: HOEC, Essar Oil, MRPL, Bongaigaon Refineries
Metals: Ispat, Hindalco, JSW Steel
Buzzing Stocks:
Kolte-Patil: Up over 65% since listing last Thursday (issue price Rs 145). Companie's total land valuation is at Rs 1,800-2,000 crore. Total saleable area in Pune & Bangalore at 39 m sq ft.
IFCI: Board meet today to consider bids for 26% stake in company. Sets conversion price of Rs 107 for FIs; 3 firms in fray. Hits new 52-week high with volumes just above average.
Ispat Industries: Debt to come down by close to Rs 800 cr in next 4 quarters. To up HR coil capacity to 3.6 mt; adding blast furnace. To set up 1200 MW power plant in Chhatisgarh for Rs 5000-5500 crore. Hits new 52-week high but volumes lower than average.
Surya Roshni: Reports say Phoenix Lamps eyes cos lightening business. Hits new 52-week high but volumes lower than average.
Kaushalya Infra: At upper circuit after gaining 37% on listing last Friday. Co sees FY09 topline growth of 50%. Order book at Rs 145 cr, to be executed in Mar-Jul '08.
Thomas Cook: At upper circuit for 2nd day; volumes 7x 10-day average. Still way off 52-week high of Rs 644 hit in May 2007. Ties up with Japanese travel services firm to boost travel business. Plans to raise up to Rs 125 crore via preference shares.
Petron Engineering: Bags two new orders worth Rs 99 crore. Volumes thin but 4x 10-day average.
Allied Digital: Likely to close about $ 5 million domestic co buy in Dec, reports NW18. Sees FY09 revenue at Rs 650 crore and profit at Rs 75 crore. Hits new 52-week high but volumes lower than average.
GTL Infra: Plans to set up 25,000 towers in India with investment of Rs 8,000 crore. Plans acquisitions & strategic investments in telecom infra companies.
India Glycols: Reports say co acquires Shakumbari Sugar & Allied Ind for Rs 47 crore. At upper circuit, close to 52-week high, volumes 10x 10-day average.
Diamond Cables: Board approves FCCB/GDR/ADR/QIP issue up to Rs 250 crore. Buzz is likely to acquire European co by end of Jan 2008.
Price & volume:
Sangam India: Surges in afternoon trade; volumes 7x 10-day average.
Suven Life: Volumes 5x 10-day average; still way off 52-week high of Rs 183.
Gillette India: At upper circuit, surges almost 60% in last 4 days. Hits 52-week high, volumes thin but 8x 10-day average.
Global Cues:
US Data: Nov CPI at 0.8% vs 0.6% expected, most since Sept 2005. Nov PPI up 3.2%, most since 1973.
Asian Markets:
Key Asian Indices were down between 5-9% since last Fed Cut. Financials decline: Australia's Macquarie Group, Japan's Mitsubishi UFJ Financial Group ,South Korea's Kookmin Bank and Singapore's DBS Group. Hang Seng and SSE Composite witnesses blue chip selling led by property stocks. Australia's Centro Prop Group lost a whoppping 76% on refinancing troubles.
