Nifty hits life time high during the day. Benchmark Indices fail to close above 6000 & 20,000 levels amidst profit booking. CNX Midcap Index & BSE Small Cap Index hit lifetime highs. Sensex was up 58 pts at 19796, it gives up nearly 270 pts from day’s high. Nifty was up 15 pts at 5955, it gives up nearly 75 pts from day’s high.
Nifty hits life time high during the day. Benchmark Indices fail to close above 6000 & 20,000 levels amidst profit booking. CNX Midcap Index & BSE Small Cap Index hit lifetime highs. Sensex was up 58 points at 19796, it gives up nearly 270 points from day’s high. Nifty was up 15 points at 5955, it gives up nearly 75 points from day’s high. CNX Midcap ends flat and some high fliers saw profit booking. BSE Realty Index was up 3.6%, in which Unitech was up 9.5% and DLF was up 2%. BSE IT Index was up 0.8%, in which Infosys was up 2%. BSE Metals Index was down 0.7%, in which Sterlite Industries was up 3.4%. Index gainers were Cipla, up 4.2%, ICICI Bank, up 3%, REL, up 3%, HDFC, up 2.7%. Index losers were Hindalco, down 3.2%, Grasim, down 3%, Sun Pharma, down 2.8%. Non Index gainers were Omaxe, up 12%, Peninsula, up 6.6%, Nucleus Soft, up 15%. Non Index losers were Zee News, down 6.6%, Videocon Ind, down 6.5%, SRF down, 6.3%. Advance-Decline ratio was at 4:5. Total market turnover was at Rs 98,005 crore vs Rs 87,830 crore.
FNO Snapshot:
Nifty futures ended at 30 points premium Vs 40 points premium yesterday. Nifty futures added 15.6 lakh shares in OI. Pharma, Realty saw build up long positions. Long unwinding pressure seen in midcap momentum stocks.
Realty FNO Buzzers:
Unitech up 11.5%; added 4 lkh shares in OI
Omaxe up 13%; added 4.35 lkh shares in OI
Peninsula Land up 8.2%; added 2.75 lkh shares in OI
Pharma FNO Buzzers:
Cipla up 4.7%; added 15.8 lkh shares in OI
Aurobindo up 4.1%; added 2 lkh shares in OI
Other FNO Buzzers:
Idea up 8.3%; added 42 lkh shares in OI
Chambal Fert up 11.5%; added 25.5 lkh shares in OI
Unwinding Pressure:
TTML, IFCI, JP Hydro, Arvind Mill, SRF, Essar Oil, Escorts
Buzzing Stocks:
Mercator Lines: To raise around $175-200 million via Singapore arm, said sources. To dilute nearly 30% stake in Singapore arm. Close to 52-week high, volumes 3x 10-day average.
Ennore Foundries: To place 12-13% stake to 3 PE investors at Rs 300/sh, said sources. Board meet today to consider fund raising plans. Hits 52-week high, volumes over 4x 10-day average.
IGL: Looking to add 25-30 CNG stations over next 2-3 years. Company sees FY08 turnover at over Rs 800 crore.
Bhuwalka Steel: Awards land development contract to BL Kashyap Group company, said sources. At upper circuit, hits new 52-week high but vol average.
Essar Steel: Locked at upper circuit, hits new 52-week high. SAT keeps trading suspension & delisting of co in abeyance. Stock to continue trading until further notice. Stock will not be suspended from Dec 7 as announced earlier. Alert: Completed delisting process, discovered price Rs 48/share.
Omaxe: Indiabulls Fin buys 14.4% in co by way of pledge on Dec 4, reports NW18. Likely to announce $ 5 billion deal in next couple of days. Deal likely for 10,000 acre project in west India.
HB Stockholdings: At upper circuit, hits new 52-week high but volumes very thin. Says may raise open offer price for DCM Shriram. Says may buy more DCM Shriram shares from open market.
Mirc Electronics: Reports say PE players Actis, TPG in talks with promoters to buyout their stakes.
Kamat Hotels: Hits new 52-week high with volumes almost 10x 10-day average. Buys 60% stake in Concept Hospitality for Rs 127/share.
Micro Technologies: At upper circuit, close to 52-week high, vol 24x 10-day average. Play on increased corporate spending on security systems. Plans to set up base in Middle East, US, UK, & South Africa. Also setting up more retail outlets for its security products.
Apollo Tyres: Company had announced plans to hike prices in 1st week of Dec. Prime Broking has initiated coverage with Buy, target Rs 60.
Global markets today:
Asian stocks hit 3-week highs as fears of a U.S. recession receded, expectations of an interest rate cut by the BoE weighed. Asian markets end strongl; no run away rally seen. Nikkei ended at a 4-week high, up 1.7%. Thailand up over 1.5%; Korea, Hang Seng up nearly 0.75%. In Taiwan, FIIs net buy equities worth $ 504.3 million in today’s trade (Prov). Highest buy figure seen since Oct 29.
Global news:
American International Group said its risks from the subprime crisis were manageable. Mitsubishi UFJ up 6.6%, Macquarie Group up 1.8%, Citigroup's Tokyo up 4.7%.
