Tuesday 8 January 2008

Sensex hits 21K, ends up 61 pts at 20873

Profit booking seen in momentum stocks, especially in midcap/ small cap stocks. Sensex ends up 61 pts at 20873, it swung 381 pts during the day. Nifty ends up 9 pts at 6288, it swung 136 pts during the day. CNX Midcap Index was down 2.5% while BSE Small cap was down 3.4%.

Sensex hits 21,000 for 1st time ever in todays trade. Markets were see-saw in today’s session after touching lifetime highs in early trade. Profit booking was seen in momentum stocks, especially in midcap/ small cap stocks. Sensex ends up 61 points at 20873, it swung 381 points during the day. Nifty ends up 9 points at 6288, it swung 136 points during the day. CNX Midcap Index was down 2.5% while BSE Small cap was down 3.4%.

BSE Metals was down 3%, in which Hindalco was down 4.2%, Tata Steel was down 3.8%, Nalco was down 3.2%, Sterlite was down 3.1% and SAIL was down 2.7%. BSE Bank was down 1.2%, in which HDFC Bank was up 3.7%, SBI was up 2.6%, Andhra Bank was down 4.9%, Allahabad Bank was down 4.6%, Kotak Mahindra Bank was down 4.3%. BSE IT Index was up 1.3%, in which Satyam was up 2.7%, Infosys was up 1.6%, Wipro was up 1.4%. Other Index gainers were GSK Pharma, up 4.3%, Bharti Airtel, up 4.2%. Other Index losers were BPCL, down 5.7%, Grasim, down 3.3%, Tata Power, down 2.8%. Non Index gainers were RNRL, up 7.2%, Polaris, up 6.7%, HDIL, up 6.3%, United Spirits, up 5.8%, Geojit Finance, up 5%, BPL, up 5%, EIL, up 9.4%. NSE Advance Decline ratio stood at 1:7. Total market turnover was at Rs 1.21 lakh crore vs Rs 1.04 lakh crore yesterday.

Pain in Midcap/ Small cap:

Stock Name % change
Hindustan Motors -9.5
Burnpur Cements -13
Oswal Chemicals -8.5
PTC India -9
Firstsource -8.8
Torrent Power -9.6
Inox Leisure -9
TV18 -8.2

FNO Snapshot:

Nifty Futures ends at 19 points discount Vs premium yesterday. Nifty Futures added 18.4 lakh shares. Momentum stocks saw huge unwinding; many are in F&O curb. IT witnessed long buildup/contrarian buying. Stock futures shed 83 lakh shares (prov).

Major unwinding was seen in:

IFCI: down 4.4%; Sheds 74 lakh shares
Ispat Industries: down 6%; down 58.76 lakh shares
TTML: down 4%; sheds 45.2 lakh shares
GMR Infra: down 2.3%; sheds 34.76 lakh shares
Ashok Ley: down 4.3%; sheds 29 lakh shares
Hotel Leela: down 4.5%; sheds 21.33 lakh shares
Nagarjuna Fert: down 2.6%; sheds 20.5 lakh shares
Power Grid: down 3.9%; sheds 12.8 lakh shares
Jaiprakash Hydro: down 1.3%; sheds 12.2 lakh shares

Fresh longs were seen in:

Misc: Polaris, HDIL, RNRL, M&M
IT: Wipro, Infosys, TCS, HCL Tech

Fresh Shorts were seen in:

Misc: RPL, Oswal Chemicals, HPCL, IVRCl Infra, HOEC, HCC, Jaiprakash Associates, Cairn
Banks: Andhra Bank, DCB
Metals:Hindalco,JSW Steel, SAIL

Global markets today:

Asian stocks end mixed; witnessed profit booking at higher levels. Korea, Hang Seng, Thailand, Shangahi ends dowm marginally in the red. Most of the Asian markets ends down nearly 1% from days high. Metal prices declined and crude oil fell the most in five weeks. Financial shares lead after China Merchants Bank said profit doubled. In Taiwan, FIIs net sell equities worth $ 223.1 million in today’s trade (Prov). FIIs have sold $ 1.4 billion till now in the month of January.