Markets tarde firm through out the day and it outperfomes its Asian peers. Sensex was up 240 pts at 19603 while Nifty was up 102 pts at 5865. CNX Midcap Index was up 2.7% while BSE Small cap Index was up 2.4%. All sectoral indices ended in green for second consecutive session.
Markets tarde firm through out the day and it outperfomes its Asian peers. Sensex was up 240 points at 19603 while Nifty was up 102 points at 5865. CNX Midcap Index was up 2.7% while BSE Small cap Index was up 2.4%. All sectoral indices ended in green for second consecutive session. BSE Oil & Gas Index was up 3.5%, in which Reliance was up 2.9% and BPCL was up 4.3%. BSE Metals Index was up 3.1%, in which Sterlite was up 4.6% and Hindalco was up 3.5%. BSE Capgoods Index was up 1.7%, in which BHEL was up 3.6% and ABB was up 3%. BSE Auto Index was up 1.4%, in which M&M was up 3% and Ashok Leyland was up 5.2%. IT saw buying interest. Wipro was up 6.8% and TCS was up 3.7%. Other index gainers were REL, up 9.6%, Tata Power, up 8%, Zee Entertainment, up 5.5%, Sterlite, up 4.6% and VSNL, up 4%. Fertlizer stocks buzzed. Nagarjuna Fertilizers was up 13%, Chambal Fertilizers was up 11.7%, Oswal Chemicals was up 7.9% and RCF was up 7.9%. Non Index Gainers were Essar Oil, up 20%, TVS Electronics, up 20%, IFCI, up 13% and Dish TV, up 12%. Media stocks which were up are Dish TV, up 12%, Deccan Chronicle, up 11.5%, Raj TV, up 10% and Adlabs, up 8%. Advance-Decline ratio was at 4:1. Total market turnover was at Rs 84,399 crore.
FNO Snapshot:
Nifty Futures premium was at 11 points, it added 13.7 lakh shares. Momentum stocks rally as stock futures added nearly 10 crore shares (prov). Fertilizer and Chemical Stocks saw long buildup.
Momentum stocks:
IFCI: Up 12.3%; added 1.63 crore shares in OI
TTML: Up 6.4%; added 1 crore shares in OI
IDFC: 5.3%; added 1.4 crore shares in OI
IDBI: Up 2.7%; added 19.2 lakh shares in OI
New F&O:
Ispat: Up 5.7%; added 69 lakh shares
HOEC: Up 4.9%; added 6.16 lakh shares; strong CoC seen
Star Performers:
Essar Oil: Up 19.35%; added 45.36 lakh shares in OI
Nagarjuna Fertilizers: Up 14%; added 67.34 lakh shares in OI, Strong CoC seen
Chambal Fertilizers: Up 12.3%; added 17.38 lakh shares in OI
Praj Industries: Up 10%; added 5.76 lakh shares in OI
Short Covering:
Misc: RNRL, Hindalco, Zee Ent, REL, PFC, Ranbaxy Labs
Turnover:
Essar Oil: Rs 3360 crore
REL: Rs 2959 crore
IFCI: Rs 2585 crore
IDFC: Rs 2292 crore
RNRL: Rs 2155 crore
Global markets today:
Asian stocks ended mixed as US rate cut hopes grow. Thailand was down 1.6% while Jakarta was up 1.5%. Nikkei, Kospi, Shanghai ended down marginaly in the red. Year-end window dressing by fund managers. Banks gain on speculation that US Treasury Sec will reach an agreement to stem further credit market losses (news of bailout plan for subprime borrowers ). In Shanghai, China Railway rises 67% in debut; raised $ 2.5 billion in offering. In Taiwan, FIIs net sell equities worth $ 83.9 million in today’s trade (Prov). FIIs have sold equities worth $ 4.6 billion in November month.
Buzzing stocks:
Essar Oil: Hits new 52-week high, vol almost 4x 10-day avg; adds over 44 lakh shrs in OI.
NCL Industries: Locked at upper circuit, hits 52-week high, volumes over 16x 10-day average. IL&FS Investsmart initiates coverage with Buy rating, target Rs 120.
Shyam Telecom: FIPB allows Russian co Sistema to hike stake in subsidiary Shyam Telelink to 74%.
TVS Electronics: At upper circuit with volumes 17x 10-day average; close to 52-week high. Up despite co denying reports of holding 6 acres plot in Chennai. Sold holding in TVS Fin & land to group holding co; contract mfg biz to co in Finland. Co says garnered close to Rs 100 cr in positive cash flow.
Asian Oilfield Services: At upper circuit, hits 52-week high; bags 2 orders worth Rs 60 cr from ONGC.
Balmer Lawrie-Van Leer: Hits 52-week high, vol over 2x 10-day avg; Delisting offer at a floor price of Rs 46.
Bank of Rajasthan: Board meet on Dec 7 on issue of shares & warrants on pref basis to various investors.
Reliance Energy: To raise Rs 8,000 cr via pref issue to ADAG, offer at 5% premium at Rs 1812/sh. Current equity capital is 22.6 cr shares; increases to 26.9 cr shares. New shares to be issued: 4.3 cr shares, equity dilution of 19.02%. Promoters' shareholding to increase from 35.89% to 46.13%.
IFCI: 4 bidders complete due diligence for 26% stake; last date for bids fixed as Dec 14, 2007. LIC, GIC to convert part of their debt (as 0% debentures) into equity. Equity conversion to maintain LIC & GIC stake in IFCI at current levels. Reports suggest company set to offer 20% stake to IFC before stake sale. Stock close to 52-week high; adds over 27 lakh shares in Dec open interest.
Shree Pacetronix: Locked at upper circuit but volumes thin; open offer at Rs 49/sh.
Deccan Chronicle: RBI allows FIIs to buy further shares of co as their holding falls below 24% limit.
JHS Svendgaard: Board meet today to consider issue of shares / warrants to promoters on pref basis.
Media Video: On lower circuit for second 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.
