Markets end weak amid huge volatility through out the day. Sensex ends down 167 points at 19700.8; slips nearly 325 points from days high. Nifty ends down 22.5 points at 5913; slips nearly 100 points from days high. CNX Midcap Index ends flat while BSE Small-cap Index was up 1.7%. BSE Oil & Gas Index was down 2%,in which RIL was down 3.14%, numbers in-line with street expectation. Ranbaxy ends down 2.85%, numbers below street expectations. ITC was up 4.2% ahead of results tomorrow. Other gainers were, Nalco, up 7.5%, Siemens India, up 4%, L&T, up 2.6%. Sugar sweet; Balrampur Chini, up 11.3%, Bajaj Hindustan, up 10%, Sakthi Sugar, up 9.5%. Recent listing; eClerx Services, up 18.4% Manaksia, up 13.3%, KPR Mill, up 10%. Non-Index losers were TV18, down 7.2%, Patni, down 5%, IDBI, down 4.7%, Lanco Infratech, down 4.1%. NSE Advance Decline ratio stood at Rs 5:2. Total market turnover was at Rs 96056 crore Vs Rs 1.1 lakh crore vs yesterday.
Stocks at new life-time high:
Asian Electronics
Bank of India
Dhanlakshmi Bank
Educomp
Everonn Systems
Geojit Financial Services
Madhucon Projects
Orbit Corp
Prime Securities
Sadbhav Engineering
Shiv-vani Oil
Welspun-Gujarat
FNO Snapshot:
Nifty Futures at 8 point premium; add 15.5 lakh shares in OI. Nifty Jan 6000 Call adds 6.5 lakh shares in OI. Nifty Jan 6200 Call Adds 2.72 lakh shares in OI. Midcaps, Select large Caps driven by short covering. RIL, Ranbaxy, REL see some short buildup post results. Sugar stocks see strong long buildup. Stock futures add 1.9 cr shasre in OI (prov).
Star Performers were:
Sugar Stocks:
Balrampur Chini: Up 10.22%; Adds 1.87 lakh shares
Bajaj Hindustan: Up 9.3%; Adds 4.98 lakh shares
Triveni Engineering: Up 5.2%; Sheds 1.13 lakh shares
Jaiprakash Hydro: Sheds 4.15 lakh shares
ITC: Up 4.3%; Sheds 12.44 lakh shares
MRPL: Up 3.7%; Sheds 3.62 lakh shares
Short Covering was seen in:
Mid Caps: Orchid Chemicals, Ashok Leyland, Ispat Ind, Idea Cellular, JP Hydro, MRPL, Neyveli Lignite, Alok Industries
Large Caps: ONGC, Bharti Airtel, ITC, Power Grid, Cipla
Fresh Longs were seen in:
Sugar Stocks: Bajaj Hindustan, Balrampur Chini, Shree Renuka Sugars
Momentum Stocks: Nagarjuna Fertilizers, TTML
Banks: Union Bank, Central Bank of India,
Metals: Sterlite Industries, Jindal Stainless
Fresh Shorts were seen in:
Misc: Lanco Infratech, Patni, IDBI, DLF,
Large Caps:RIL, ICICI Bank, DLF, Amubuja Cem, Ranbaxy, REL, Reliance Capital, HDFC Bank, NTPC
Long Unwinding was seen in:
Misc:IFCI, RPL, SAIL, BOI
Global markets today:
Asian markets recover sharply; trades in a wide range. Hang Seng recovers nearly 5%, Straits Times recovers 4.3%, Jakrata 3.5%, Nikkei, Thailand, Kospi recovers nearly 2.5%. In Taiwan, FIIs net sell equities worth $ 185 million in today’s trade (Prov). FIIs had bought equities worth $ 1.5 billion from Mon-Wed.
Triggers:
Continuous speculation that Bernanke to provide "economic stimulus package" later in the day. Bernanke may also give clues about what the Fed will do at its meeting at the end of the month. Yen eased against the US dollar; trading at 107.65. Some markets bounced from support levels; Nikkei recovered from support level of 13,500.
Data to watch:
Bernanke to testify before Congress
18 cos set to report earnings before mkt opening, with Merrill Lynch expected to be the focal point
Dec Housing starts: economists forecast housing starts to be lowest in 14 years
Weekly initial claims
Jan Philadelphia Fed Survey
