Thursday, 7 February, 2008

Sensex dwn 612.5 pts at 17526; Nifty dwn 189.3 pts at 5133

Market ended at day's low. Selling was seen after results disappoitment from European markets. Sensex ended down 3.38% or 612.5 pts at 17526.9; Nifty ended down 3.56% or 189.3 pts at 5133.25.

CNX Midcap Index was down 2.68%. There was a intraday fall of 4.4% from day's high. BSE Small-cap Index was down 2%. There was intrday fall of 3.8% from day's high. All BSE Sectoral Indices ended in the red. BSE Oil & Gas Index was down 4.4%; RIL, Cairn India was down 5%, ONGC was down 4.1%. BSE Metal Index was down 4%; Hindalco was down 5.8%, SAIL was down 4.8%, Tata Steel was down 3.4%. BSE Realty Index was down 3.7%; Unitech & Omaxe was down 7%, DLF was down 2.7%. Fertilizer stock saw profit booking. Oswal Chemical was down 8.5%, GSFC was down 8.3%, Deepak Fert was down 8.2%.Among non index Losers were Page Industies down 9.1%, Neyveli Lignite was down 8%, Rolta down was 7.8%, JP Hydro was down 7.2%. NSE Advance Decline worsened at 1:4 at the end of the day. Total market volume stood at Rs 61429 crore.

FNO Snapshot
Nifty witnessed short buildup through the day. Nifty futures discount moved from 15 to 40 points. Mid Cap momentum stocks saw major unwinding day's end. Short buildup was seen in selective large caps.

Mid Cap momentum stocks
Mid Cap momentum stocks were IFCI was down by 7.2% sheded 59.3 lakh shares, CoC at a was at discount RNRL was down by 6.5% sheded 49 lakh shares, Ispat was down by 5.1% sheded 36.76 lakh shares, TTML was down 5.7% sheded 26.96 lakh shares, JP Hydro was down 7.1% sheded 16.15 lakh shares.

Biggest F&O Losers
Among biggest F&O losers were stocks like Oswal Chem was down 9% sheded 5.14 lakh shares, neyveli lignite was down 8.5% sheded 9 lakh shares, unitech was down 8% adding 6.5 lakh shares, Rolta was down 7.9% adding 42 thousand shares, MRPL was down 7.7% sheds 4.7 lakh shares.

Large Cap Short buildup:
Large Cap showed Short buildup stocks like ITC, Idea, Unitech, NTPC, Hindalco, HUL, Suzlon, ONGC, Cairn, Bharti Airtel, Wipro.

BoE & ECB announcement on interest rate policy today; economists expect rate cut Markets in Hong Kong, Indonesia, Malaysia, Singapore, South Korea and Taiwan will all reopen on Monday. Chinese market will reopen Wednesday.

Nikkei ended up 0.8%; recovered nearly 1.5% from day's low. Cisco, Deutsche, Infinion results disappointed.

Data To Watch
Jobless Claims Data: no of individuals who filed for unemployment insurance for the first time, Pending Home Sales Index, Chain Store Sales: monthly sales volumes from individual department, chain, discount, and apparel stores, 158 cos slated to report earnings before tomorrow's open; focus will be PepsiCo.