Monday 28 January 2008

Mkts make smart recovery during later part of day

Indian markets make smart recovery during later part of the day ahead of RBI policy meet tomorrow. Indian markets outperforms Asian markets as Shanghai ends down 7.2%, Hang Seng ends down 4.2%. Sensex ends down 209 points at 18152.8; recovers nearly 700 points from day's low while Nifty ends down 109.2 points at 5274; recovers nearly 200 points from day's low. CNX Midcap Index end in the green; recovers over 5% from day's low while BSE Small-cap Index ends down 1.1%; recovers over 2% from day's low. Interest rate sensitives like bank, auto gain ahead of RBI policy meet tomorrow. BSE Bank Index was up 1.24%, in which PNB was up 2.5%, SBI was up 1.8% and ICICI Bank was up 1%. BSE Auto Index was up 1.72%, in which Bajaj Auto was up 8.8%, Maruti was up 3.7% and M&M was up 2.4%. BSE Realty Index was down 4.5%, ion which Unitech was down 6.7%, DLF was down 5.5%. Non-Index gainers were Zee News, up 16.8%, Gujarat NRE Coke, up 13.9%, GHCL, up 12.4%, Jindal Saw, up 7.7%. Among the mid-cap banks, DCB was up 7%, Syndicate Bank was up 5%, Yes Bank was up 4.7%, CBI was up 4.5%. NSE Advance Decline stood at 1:2.

FNO Snapshot:

Nifty Rollover was at 36% while Market wide rollover was at 25%. Rollovers subdued; limited to select large cap bank stocks.
Nifty witnesses’ short rollovers continue. Nifty Jan and Feb trade a steep discount through the day. Select Midcaps continue to see unwinding pressure. NSE F&O Tunover was at Rs 43395 crore vs Rs 39007 crore on Friday. Number of contracts rolled over significantly lower than last few expiries.

Fresh Long/Long Rollovers were seen in:

Misc: REL, Jindal Stainless, NIIT Tech, HOEC, IDBI
Banks: SBI, ICICI Bank, HDFC , Syndicate Bank, Yes Bank, Vijaya Bank, CBI, Union Bank, Allahabad Bank

Feb Buildup at lower levels:

NTPC, CESC, Carin, RPL, Bhaqrat Forge, GTL

Long unwinding was seen in:

Misc: RNRL, Aptech, Triveni Engineering, Lanco Infratech, Deccan Aviation, Ballarpur Industries, Shipping Corporation of India, Oswal Chemicals.

Recovery:

Name LastPrice Day's Low Recovery (%)
Zee News 70.45 48.25 46.01
Guj NRE Coke 125.4 101.6 23.43
Kolte Patil Developers 176.1 147 19.8
Triveni Engg 132.9 112.1 18.55
Essar Oil 234.6 198.3 18.31
Ispat 45.3 38.3 18.28
DCB 123.6 105.5 17.16
GHCL 140.2 121 15.87
Punj Lloyd 465 401.65 15.77
Reliance Ener 2097.45 1820 15.24
Jindal Stainless 161.2 140.5 14.73
Voltas 219.85 192.1 14.45
Jaiprakash Hydro-Power Limited 84.95 74.3 14.33
Dena Bank 74.1 65 14
Hindustan Oil Exploration Co. Ltd 115.45 101.55 13.69
IDBI 126.3 111.5 13.27
Jindal Steel 2349.25 2085.1 12.67
UCO Bank 63.3 56.2 12.63
Central Bank Of India 113 100.5 12.4