Markets end marginally down amid choppy trade. Midcaps outperformed. Sensex was down 74 pts at 19529 while Nifty was down 7 pts at 5858. CNX Midcap Index was up 1.2% and BSE Small cap Index was up 1.6%.
Markets end marginally down amid choppy trade. Midcaps outperformed. Sensex was down 74 points at 19529 while Nifty was down 7 points at 5858. CNX Midcap Index was up 1.2% and BSE Small cap Index was up 1.6%. BSE Metals was up 3.2%, in which SAIL was up 8.5% and Tata Steel was up 3.6%. BSE Oil & Gas Index was down 1%, in which Reliance was down 2.5%, GAIL was up 3% and IOC was up 8.5%. BSE Auto Index was up 1.7%, in which M&M was up 2.9%. BSE Capgoods Index was up 1.1%, in which Tata Power was up 3.3% and BHEL was up 1.5%. OMCs BPCL & HPCL were up over 4%. Other Index gainers were PNB, up 2.5% and DRL, up 1.7%. Other Index losers were VSNL, down 2.3%, Unitech, down 2%, RPL, down 2%, ICICI Bank, down 1.9% and TCS, down 1.9%. Non Index gainers were WWIL, up 23%, Everonn Systems, up 20%, Videocon Industries, up 20%, Chambal Fertilizers, up 18%, Essar Steel, up 18% and MICO, up 17.7%. Non Index losers were Voltas, down 4%, Indian Bank, down 4%, Mercator Lines, down 3.6%, Rolta, down 3.4% and UTV, down 3.1%. Advance-Decline ratio was at 2:1. Total market turnover was at Rs 85,185 crore vs Rs 84,399 crore.
FNO Snapshot:
Nifty futures ended at 32 premium and added 4 lakh shares. Markets maintain narrow range in low turnover day. Metal stocks saw more action in the cash market vs F&O space. Essar Oil saw unwinding at higher levels (In F&O curb).
Metal Stocks:
SAIL, up 8.5%; added 45.5 lakh shares in OI
Ispat, up 2.2%; added 96.3 lakh shares in OI
Tata Steel, up 4.2%; added 6.5 lakh shares in OI
Star Performers:
WWIL: surges late in trade; up 29.2%; added 25 lakh shares in OI
Educomp: up 19%; added 35000 shares
MICO: up 18%; added 62000 shares, recent inclusion in FNP space
Chambal Fertilizers: up 16.5%; added 7.45 lakh shares
MRPL: up 12%; added 39.24 lakh shares; Strong CoC seen
Fresh longs:
Metals: SAIL, Ispat, Tata Steel
Realty: Ansal Properties, Purvankara
Construction: Nagarjuna Construction, HCC
Refinery: Bongaigaon, MRPL
Momentum Stocks: Arvind Mills, Hotel Leela, Ashok Leyland
Misc: SAIL, Deccan Aviation, Tata Chemicals, Oswal Chemicals, Yes Bank, Ispat
Short Covering:
GTL, India Cements, Praj Industries, Tata Motors, IDBI,, Tata Power
Long unwinding:
Misc: IFCI (In F&O Curb), RNRL, REL, Indus Ind Bank, Sterlite
Global markets today:
Asian markets ended marginally in the green. Shanghia, Jakarta were up nearly 1%. Korea, Taiwan, Hang Seng were up nearly 0.8%. Nikkei was down 1%. Lackluster day of trading noticed in Asian makets. Investors awaiting for Dec 11 meeting; Fed Fund Futures are pricing in 100% probability of 25 bps cut. Odds of a 50 bps Fed rate cut rose to 40% from 12% a week ago. Baosteel was up over 5%, parent Baosteel Group possibly expanding stake in Shenzhen Development Bank. Chinese steelmakers, and gov are studying a joint bid for Rio Tinto to counter $134 bn offer from BHP Billiton. In Taiwan, FIIs net sell equities worth $ 70.6 million in today’s trade (Prov).
Events today:
OPEC Meeting: speculation that the OPEC may not raise output. Australia Reserve Bank of Australia interest rate decision. Canada Bank of Canada interest rate decision. Eurozone October Inflation Data.
Buzzing stock:
Moser Baer: Plans to invest $ 1 billion in photovoltaic biz; way off 52-week high of Rs 515.
Inox Leisure: Reliance Capital buys 3.55 lakh shares at Rs 133.5/sh (0.6% stake). Had not participated in the recent rally in media stocks.
Raj TV: Recently closed global distribution deal with The New Media Group. Company to exhibit its channels through TNMG's global IP-TV platform. Locked at upper circuit, volumes thin but 4x 10-day average.
IVP: At upper circuit for 5th consecutive day; volumes 3x 10-day average. Play on land in Rhey road; value unlocking; cost on books is only Rs 3 crore.
Videocon Industries: Reports suggest co has bought 2000 acres land in West Bengal for steel project.
Deccan Aviation: Vijay Mallya says Accenture to submit report on merger with Kingfisher by Dec 19.
NCL Industries: Up 46% after IL&FS Investsmart put Buy with target of Rs 120 last week. Stock hits new 52-week high with volumes over 45x 10-day average.
TVS Electronics: At upper circuit for 2nd day, close to 52-week high but volumes average. Company yesterday denied reports of holding 6 acres plot in Chennai.
Media Video: On lower circuit for third consecutive day after re-listing on Friday. Got relisted with base price of Rs 103.45 but this did not discount infra business. Trading ex-infra business; Mgmt feels price will stabilize around Rs 43-45.
Dish TV: Market talk that co plans to raise around Rs 300-400 cr at Rs 100-110/sh. Board meet on Dec 5 to consider capital infusion via preferential allotment.
HB Stockholding: Increases stake in DCM Shriram Industries to 14% via open market purchases. At upper circuit, hits new 52-week high but volumes lower than average.
Mcleod Russel: Board meet today to consider amalgamation of The Moran Tea Co with itself.
MICO: Spurts in afternoon trade, up over 22% or Rs 1000 after inclusion in NSE F&O last week.
