Friday, 28 December 2007

Mkts trade in a narrow band on triple witching day



Markets trade in a narrow band on the triple witching day. Sensex was up 24 points at 20216 while Nifty was up 11 points at 6082. CNX Midcap Index was up 0.2% while BSE Small-cap Index was up 2.3%.






Markets trade in a narrow band on the triple witching day. Sensex was up 24 points at 20216 while Nifty was up 11 points at 6082. CNX Midcap Index was up 0.2% while BSE Small-cap Index was up 2.3%. BSE Consumer Durables Index was up 1.8%. BSE FMCG up was 0.9%, in which ITC was up 1.8%. BSE Metals was up 0.9%, in which Nalco was up 9.2%, Tata Steel was up 1.4% and SAIL was up 1.1%. BSE Bank Index was up 0.7%, in which HDFC Bank was up 2.3% and ICICI Bank was up 2.3%. BSE Auto Index was down 0.7%, in which Tata Motors was down 2%.

Other Index gainers were Idea Cellular, up 2.9%, Wipro, up 2.6%, Suzlon Energy, up 2.2%. Other Index losers were Satyam, down 2.5%, RPL, down 2%, Ranbaxy, down 1.9%, Sun Pharma, down 1.9%. Non-Index gainers were SCI, up 13%, Kalindee Rail, up 20%, Videocon, up 9%, Suven Life, up 19.4%, Era Construction, up 19.6%, Inox, up 15.4% and Tulip IT, up 15.4%. NSE Advance Decline ratio stood at 5:3. Total market turnover was at Rs 1.27 lakh crore vs Rs 1.19 lakh crore yesterday.

FNO Snapshot:

Aggressive Rollovers in Momentum stocks. Metals, Oil & Gas, Banking stocks saw strong rollover. Cement, Sugar, Pharma, saw rollovers pick up. Auto Stocks saw low rollovers. Marketwide Rollover was at 81% (prov) vs 83% in Nov and 84% in Oct. Niftywide Rollover was at 73% (prov) vs 75% in Nov and 70% in Oct. Gitanjali Gems Jan futures trades at a 22 point discount. NSE F&O Turnover was at 94658 crore vs 96144 crore yesterday. Nifty Jan Futures ends at a 43 point premium, up ward pressure from long rollers.

Star Performers:

Shipping Corporation: up 15%; added 16.7 lakh shares in Jan; Rollover 71%
Nalco: up 9%; added 4.15 lakh shares in Jan; Rollover at 73%
Tulip IT: up 20.6%; added 53000 shares in Jan; Rollover at 71%
Aptech: up 6%; added 12.4 lakh shares in Jan; Rollover at 81%
Alok Industries: up 6.3%; added 55 lakh shares in Jan; Rollover at 74%

High Rollover:

Bharat Forge 94.17
Parsvnath Developers 94.16
CMC 94.13
Adlabs 93.78
JSW Steel 93.74
Sesa Goa 92.91
Kotak Mahindra Bank 92.42
Hindalco 92.15
Orchid Chemicals 92.12
Hindustan Construction 91.87
Sun Pharmaceuticals 91.26
Lupin 91.2
Everest Kanto 90.95
S Kumars 90.88
IOB 90.28
Jaiprakash Associates 89.95
Maruti Suzuki 89.07
Andhra Bank 89.02
India Cement 88.42
Reliance Communication 87.86
Reliance Industries 87.67


Low Rollovers:

Misc: Nicholas Piramal, Sun TV, Gitanjali Gems, Alstom Projects, Tata Power, VSNL, Dena Bank,
Auto: Hero Honda, TVS Motor, Bajaj Auto
IT: Satyam Computers, HCL Tech

Better than last time: RPL 84% vs 50% (Last time was low, the one before was 85%)

Good Rollovers:

Parsvnath 94% vs 96%
Hindalco 92% vs 91%
JSW Steel 93% vs 91%
Bank of Baroda 96% vs 93%

Weak Rollvers:

RNRL 77% vs 85%
Ashok Leyland 73% vs 90%
TTML 81% vs 87%
Hotel Leela 74% vs 83%
IFCI 84% vs 91%
Dena Bank 59% vs 86%
Chambal fert 65% vs 85%
Arvind Mills 83% vs 91%
Power Grid 80% vs 85%

Fresh longs/ Long Rollovers:

Metals: Nalco, JSW Steel, Hindalco, Tata Steel, SAIL,
Textiles: Alok Ind, Arvind Mills
Banks: Bank of Baroda, Yes Bank, ICICI Bank, HDFC Bank
Pharma: Orchid Chem, GSK Pharma
Misc: IVRCL Infra, Idea Cellular, Adlabs, Punj Lloyd,
Misc: ITC, Balrampur Chini, HCC,
Power: REL, Power Grid, NTPC
Oil & Gas: ONGC, GAIL, Essar Oil, RPL

Kalindee Rail: Company expected to benefit from dedicated freight corridor of Railways. Reports say may get contracts worth Rs 10,000 crore over next 5-years. At upper circuit for 2nd day; hits new 52-week high; vol 4x 10-day avg.

Noida Toll Bridge: To benefit from strong traffic growth National Capital Region (NCR). India Info sees profit CAGR of 52% over. FY07-10 on 21% CAGR in revenues. India Info has Buy on stocks with price target of Rs 107. Credit Suisse sells 37 lakh shares @ Rs 57.74/sh (1.98%). At upper circuit, hits new 52-week high, vol over 4x 10-day avg.

Rico Auto: Mulling building factories in Thailand & China on lower power & infra costs. Close to 52-week high, volumes 6x 10-day average.

Suven Life Sciences: Gets US product patent for neuro disorder drug. Expects several other patent applications to be granted shortly.

Mercator Lines: At upper circuit for 2nd day; close to 52-week high. Religare puts Buy on Mercator Lines, with target of Rs 177.

Era Construction: May have to raise open offer price: NW18. Promoters recently made open offer for 20% stake at Rs 615.

Ahluwalia Contracts: Bags order worth Rs 341 cr; still way off 52-week high of Rs 775.

Can Fin Homes: Canara Bank hikes open offer price for co to Rs 78/sh: NW18.

Shri Lakshmi Cotsyn: Board meet on Dec 31 on raising Rs 160 cr via QIP/FCCB/GDR. Hits new 52-week high but volumes near average.

Rice stocks:

KRBL: Up on hopes of price hike; wholesale prices up by over 100-150/quintal. At upper circuit, vol over 6x 10-day avg; still off 52-week high of Rs 195.

Kohinoor Foods: Up on hopes of price hike; wholesale prices up by over 100-150/quintal. Close to 52-week high, volumes over 12x 10-day average.

LT Overseas: Up on hopes of price hike; wholesale prices up by over 100-150/quintal. At upper circuit, hits new 52-week high, vol 3x 10-day avg.

Global markets today:

Taiwan market stood out in Asian region on back of FIIs flow. Shanghai, Thailand were up over 1% each. Nikkei, Hang Seng end marginally in the red. Japanese economy falls below 10% of world's nominal GDP for the first time since 1982. Goldman Sachs says that Citigroup may cut its dividend by 40% to preserve its capital position.

In Taiwan, FIIs net buy equities worth $ 250 million in today’s trade (Prov). FIIs have bought $ 470 million during this week. FIIs have sold $ 4.6 billion in Nov month.