Friday 18 January 2008

Weak Global sentiment rub off on Indian mkts

Weak Global sentiment rub off on Indian mkts. Mkts slide in last two hours of trade. Sensex ends down 687 pts at 19013 while Nifty ends down 208 pts at 5705. CNX Midcap Index ends down 5.3% while BSE Small-cap Index ends down 4.6%. Nifty Junior ends down 6.2%.

Weak Global sentiment rub off on Indian markets. Markets slide in last two hours of trade. Sensex ends down 687 points at 19013 while Nifty ends down 208 points at 5705. CNX Midcap Index ends down 5.3% while BSE Small-cap Index ends down 4.6%. Nifty Junior ends down 6.2%. BSE Oil & Gas Index was down 5.9%, in which Reliance was down 6.6%, Cairn was down 5.3%, RPL was down 4.8%, ONGC was down 3.1% and GAIL was down 4.2%. BSE Realty Index was down 5.8%, in which DLF was down 7.2%, Unitech was down 3.2%. BSE Metals Index was down 4.9%, in which Sterlite was down 5.7%, SAIL was down 4.2%, Tata Steel was down 3.5%, Hindalco was down 3.1%. BSE Bank Index was down 5%, in which ICICI Bank was down 5.5%, HDFC Bank was down 4.4%, SBI was down 2.2%.

Index gainer were Ranbaxy, up 5.4%. Other Index losers were NTPC, down 6.4%, Idea Cellular, down 5.1%, REL, down 4%, Suzlon, down 4%, M&M, down 3.8%. Non Index gainers were Pratibha Industries, up 10.6%, Akruti City, up 3.8%, Blue Star, up 3.7%, UTV, up 3.1%. Non Index losers were Bajaj Hindustan, down 20.3%, Tata Metaliks, down 14.9%, Chambal Fertilizers, down 14.2%, Oswal Chemicals, down 14%, Balrampur Chini, down 14%, Nagarjuna Fertilizers, down 13.6%, Triveni Engineering, down 13.3%, Sakthi Sugars, down 12.7%. NSE Advance Decline ratio stood at 1:14. Total market turnover was at Rs 1.01 lakh crore Vs Rs 96,056 crore yesterday.

F&O Snapshot:

Nifty added 42.3 lakh shares in OI (prov). Basis is at a 20-27 point premium on account of huge cash market selling. Nifty Turnover is at 8742 cr (prov). Action/Sell Off centered around the cash market. F&O Turnover was Rs 72852 crore vs Rs 67865 crore. Stock Futures shed about 64 lakh shares in OI (prov). Most of the unwinding takes place in the last hour of trade.

Highest Turnover:

RNRL: Rs 1410 crore
REL: Rs 1264 crore
RIL: Rs 1043 crore
Jaiprakash Associates: Rs 731 crore

Change in OI in last half hour:

NTPC -4.2
Reliance Communication -3.6
Unitech -1.5
SAIL -1.4
State Bank of India -1.3
Satyam Computers -1.2
ONGC -1.1
Bharti Airtel -1
Reliance Petroleum -7.2
Bajaj Hindusthan -4.6
IDFC -4.1
Ispat Industries -3.9
Reliance Natural -3.4
Ashok Leyland -2.7
Neyveli Lignite -2.5
Tata Tele (Mah) -2.4
Cairn India Limited -2.1
GMR Infrastructure -2

Fresh Shorts were seen in:

Large Caps: Reliance Capital, Cairn, Unitech, DLF, RIL, MTNL
Misc: HDIL, Balrampur Chini, IDBI, VSNL, IFCI, Arvind Mills

Long Unwinding was seen in:

Sugar: Bajaj Hindustan, Triveni Engineering
Mid Caps: Voltas, RPL (In F&O Curb) , Ispat, Ashok Leyland, Idea Cellular, ITC, Hindalco, MRPL, Oswal Chemicals (In F&O Curb)

Global markets today:

Asian markets recover sharply; trades in a wide range. Hang Seng recovers 4.54% or 1095 points, Taiwan, Nikkei nearly 3.7% from days low. Straits Times, Kospi recovers over 3% from days low. Thailand, Shanghai recovers nearly 1.6% from days low. In Taiwan, FIIs net sell equities worth $ 357.6 million in today’s trade (Prov). FIIs had bought equities worth $ 949 billion during this week.

Market Buzz:

Bush administration to announce economic-stimulus plan of $ 150 billion. Concerted effort by Asian bankers to stabiize economy and pump in liquidity (unlikely). Tax rebate of $ 800 for individual taxpayers, double than $ 300 rebate in 2001 effort to spur economic growth.

Data to watch:

US markets and most of other markets are closed on Monday on account of Martin Luther King Jr. Day
US Leading Economic Indicators
US Michigan Consumer Sentiment