Friday 1 February 2008

Mkt show bounce from day's low in late trade

Market showed bounce from day's low in late trade which was led by large caps, mid cap, and small cap stocks still languishing. Sensex closed higher by 585 points at 18233, during the day recover 700 pts from day’s low. Nifty closed up 180 pts at 5317, during the day recovered 227 pts from day’s low. CNX Midcap ended flat and Smallcap was down by 0.5%. All sectoral indices ended in green.

Auto, IT stocks led from the front. BSE IT Index was up 6.2%; HCL Tech was up 10.6%, Satyam was up 7.3%, TCS was up 6.4%, Infosys was up 6.4%, Wipro was up 4.1%. BSE Metals Index was up 3.7%; Sterlite was up 9.5%, Hindalco was up 8.3%, Tata Steel was up 5.1%, SAIL was up 5%. BSE Auto Index was up 3.5%; Tata Motors was up 7.7%, Maruti was up 6.5%, Hero Honda was up 5.2% BSE Oil & Gas Index was up 2.9%; bpcl was up 6.8%, ONGC was up 5.7%, RPL was up 5.6%, Cairn was up 4.6%. Other Index Gainers were Bharti Airtel was up 5.9%, HDFC was up 5.7%, NTPC was up 4.9%, GSK Pharma was up 4.6%, ICICI Bank was up 4.5%. Among Index Losers were Nalco was down 4.4%, Zee Ent was down 4.2%, Siemens was down 2.7%, Unitech was down 2.7%. Among Non Index Gainers were Mphasis was up 14.5%, Hotel Leela was up 14.6%, Everest Kanto was up 11.6%, Educomp was up 11.4%, Bajaj Hind was up 10.1%, Tech Mahindra was up 9.7%, Apollo Tyre was up 9.2%, Jet Airways was up 9%.

Among non index losers were Elecon Engg was down 9.4%, Punj Lloyd was down 9.1%, Asian Elec was down 9%, ABG Shipyard was down 7%, Kotak Mahindra Bank was down 5.4%, Tata Chemical was down 5.3%, Goejit Fin was down 5%. Future Capital closed at Rs 910 Vs listing price of Rs 1081. The Issue Price is Rs 765. NSE Advance Decline was 1:1. Total turnover stood at Rs 54,745 Cr vs Rs 1.05 lakh Cr yesterday.

Nifty futures ended at 1 points premium adding 22.5 lakh shares in Open Intrest. Nifty future accounted for nearly 40% of total FNO turnover. There were 6050 call added and 59000 shares added in Open Intrest. Premium stood at Rs 37. There were 6400 put option added 29850 shares in Open Interest. Premium stood at 1010. IT and Auto stocks were added of long positions. There were short position seen in engineering stocks and short covering seen in ICICI Bank, Triveni Eng, ITC, Infosys, Rolta and Hotel Leela.

Long Positions were seen in RNRL up 3.7% adding 37.5 lakh shares in OI, RPL up 4.8% adding 15 lakh shares in Open Interest,Nag Fert up 3.3% adding 11 lakh shares in Open Interest, SAIL up 5.6% adding 10.6 lakh shares in Open Interest, RIL up 3% adding 5.4 lakh shares in Open Interest ,Tata Steel up 6.4% adding 5 lakh shares in Open Interest.

Fresh Shorts were seen in Punj Lloyd down 8% adding 10.4 lakh shares in Open Interest, Kotak Mah Bank down 5.6% adding 1.96 lakh shares in Open Interest, JP Associates down 2.6% adding 4.26 lakh shares in Open Interest.

Globally Asian markets ended firm, Thailand was up 3.4%, Hang Seng recovered from negative territory to end higher 2.85%, Taiwan was up 2%, Straits Times was up nearly 1%, Europe was trading strong and CAC, DAX, FTSE up nearly 1.5%

Global Commodities gained after production was halted in China due to worst snowstorms in 50 years which drove up prices of coal and zinc. Alcoa & Aluminum Corp of China bought 12% stake in Rio Tinto Group for $ 14 billion. Sentiments were positive after MBIA said that it will keep its AAA credit rating.

Taiwan Flows
Taiwan FIIs figures shoed net buy equities worth $ 143.3 million in today’s provisional trade. FII's net buy equities worth $ 618 million during this week.

Data To Watch: USA: Non-Farm Payroll Data: Economists survey shows that payroll growth accelerated from 4-year low; USA: Unemployment Rate; USA: Construction Spending; USA: Michigan Consumer Sentiment.