Wednesday, 23 January, 2008

Sensex up 864 pts at 17594; Nifty up 304 pts at 5203

Today's was the third biggest singel day point gain for Sensex ever. Markets witnessed relief rally at the back of Fed rate cut albeit low turnover. Sensex ends up 864 points at 17594 while Nifty ends up 304 points at 5203. CNX Midcap was up 7.5% while BSE Smallcap was up 4.2%. All sectoral indices ends up over 4%. All Sensex stocks end in green barring Bharti Airtel. BSE Realty Index was up 11.5%, in which DLF was up 5.6%, Unitech was up 12.4%. BSE Oil & Gas Index was up 9%, in which RPL was up 15%, Gail was up 9.4%, Reliance was up 8.2%, HPCL was up 5.1%, ONGC was up 3.4%. BSE Metals Index was up 7.1%, in which SAIL was up 12.7%, Hindalco was up 7.4%, Tata Steel was up 4.2%. BSE Bank Index was up 7%, in which PNB was up 11.6%, SBI was up 8.7%, HDFC Bank was up 7.6%. In Power stocks, REL was up 20.3%, Tata Power was up 16.2%, NTPC was up 13%, Suzlon was up 7.9%. Other Index gainers were Satyam, up 11.2%, TCS, up 9.2%, Bajaj Auto, up 7.8%, BHEL, up 7.6%. NSE Advance Decline ratio stood at 2:1. Total Turnover was at Rs 62,430 crore.

Non-Index gainers:

Stock Price Change
Sterlite Technologies 42.68
Omaxe 39.96
Peninsula Land 38.85
IVR Prime 36.98
Oswal Chemicals 36.61
Ispat 31.44
Ansal Properties 30.08
Polaris 29.98
Lanco Infratech 29.58
Edelweiss Capital 28.05
Dena Bank 27.52
JP Hydro 26.09
Birla Corp 25.83
Mahindra Lifespace 25.32
Essar Oil 25.19
Rajesh Exports 25.16
WWIL 24.56
Sun TV 24.25
S Kumars 23.62
Chambal Fert 22.65
Union Bk 22.25
Neyveli Lignite 21.91
Adlabs 21.51
RNRL 20.43
Nagarjuna Fertilizers 20.03
Dish TV 20
JB Chemicals 20
Religare Securities 20

FNO Snapshot:

F&O space saw low turnover. Unwinding in stock futures at higher levels after double digit run ups seen. Increased margin keeps turnover subdued. Nifty witnesses high intraday activity. Swings between premium and discount. Selective Stocks see long buildup.

Fresh Longs were seen in:

Misc: IDFC, ICICI Bank, Ambuja Cements, S Kumars, IFCI,
Large Caps: Reliance, L&T, ITC, Suzlon Energy, HDFC Bank, SAIL

Unwinding at Higher Levels was seen in:

Momentum Stocks: RNRL, RPL, IDBI, Ispat, Ashok Leyland, TTML, IFCI, Arvind Mills, JP Assocites, MRPL, Hotel Leela, JP Hydro, Oswal Chemicals, Balrampur Chini.

Power: Power Grid, NTPC, Neyveli Lignite.

Sugar: Bajaj Hindustan, Balrampur Chini.

Banks: Dena Bank, Vijaya Bank.

Global markets today:

Asian stocks rebounded from the biggest 2-day drop in 18 years. Hong Kong Index ends up up 10.7%, Hong Kong Monetary Authority cut short-term interest rate by 75 bps to 5%. Hong Kong, pegs its currency to the U.S. dollar, usually follows the U.S. interest rates movements. Jakarta, Strait Times up 4%, Shanghai up 3%, Nikkei up 2%. Taiwan off 3.9%, Jakarta 3.2%, Thailand 2% from day's high. Swiss Re has sold 3% stake to Warren Buffett; plans $ 1.6 bn buyback. In Taiwan, FIIs net buy equities worth $ 15.5 million in today’s trade (Prov). FIIs have sold $ 1.35 billion from Jan 17 - Jan 22 (4 days ).

Market Voices:

European mkts fall as no rate cut announced as was widely expected. ECB President said the bank remains committed to fighting inflation. Traders are cautious about the rebound and fears that US recession is far from over.