Wednesday 27 February 2008

Sensex up 20 point at 17826; Nifty ended flat at 5268

Markets slip from day's high on nervousness in European market on account of UBS EGM, uncertain economic statements from U.K.'s biggest mortgage lender, HBOS. Market clocked highest turnover of the month for third consecutive day. Sensex was up 20 point at 17826. It slipped 311 points from day’s high. Nifty ended almost flat at 5268. Market slipped 100 pts from day’s high. CNX Midcap Index was up 0.6%, BSE Small cap Index was up 0.3%.

BSE Capital Goods Index was up 2.4%; Siemens was up 3.8%, BHEL was up 3.8%, L&T was up 3.3%, Suzlon was down 3% BSE Auto Index was up 0.6%; M&M was up 4.5%, Maruti was up 2.4%. BSE Oil & Gas Index was up 0.4%; GAIL was up 1.5%, ONGC was up 1%. BSE IT Index was down 2.2%; Satyam was down 2.9%, Infosys was down 2.6%, TCS was down 2.3%. BSE Metals Index was down 1%, Nalco was down 3.8%, Sterlite was down 3.1%. Crude Oil Futures hit a record high of $102.08/bbl, Gold hits a record high of $965/oz. Rupee strengths 30 bps to Rs 39.78/$. Pharma stocks buying was seen in stocks like Sun Pharma was up 5.2%, GSK Pharma was up 4.6%, Ranbaxy was up 3.5%.

Other Index Gainers & Losers:
Grasim Ind was down 4.9%, REL was down 3.9%, Tata Comm was down 3.8%. Non Index Gainers was stocks like Punjab Tractor was up 10.1%, CESC was up 7.8%, Shree Renuka was up 7%, Indraprastha Gas was up 6.6%, Lanco Infra was up 6.3%. Non Index Losers were stocks like Gujarat NRE Coke was down 8.7%, Bajaj Hind was down 8.6%, Gateway Dist was down 3.7%, Indian Cement was down 3.7%
NSE Advance Decline is 6:5. Total Turnover at Rs 82,406 Cr Vs Rs 72,389 Cr yesterday.

FNO Snapshot
Rollovers strong in the initial half of trade, Marketwide Rollover at 62%, Nifty Rollover at 58%, Cement, Textiles, Metals and Pharma see strongest Rollovers, Infrastructure stocks see rollovers pick up, Nifty Short rollover cost reduced from 25 points to 20 points.

Top Rollovers:
Top Rollovers were stocks like S Kumars 88.6%,Bharat Forge 87%,GTL 87%,Hindalco 86%,Aban Offshore 85%,Jindal Stainless 84%,India Cem 84%,Sun Pharma 83%.

Fresh Longs/Long Rollover:
Fresh Longs/Long Rollover were seen in Textiles stocks like S Kumars, Century Text, Metals stocks like Hindalco, Jindal Stainless, Cement stocks like India Cem, ACC, Infrastructure stcoks like Lanco Infra, IVRCL Infra, Power stocks like Power Grid, CESC. Pharma stocks like Ranbaxy, Orchid Chem. Misc stocks like Punj Lloyd, Edelweiss Capital.

Short Rollovers:
Short Rollovers were seen in stcoks like Siemens, Sun Pharma, HUL, Unitech.

Global Market:
Asian markets gained taking cue from U.S. mkts on back of IBM's 15-bn buyback overshadowing poor economic data. Hang Seng was up 3.2%, Shanghai was up 2.2%, Taiwan was up 1.8%, Nikkei was up 1.5%, Straits Times was up 1.1%. Commodities surged to new all-time high as dollar index has hit an all time low.

Currency Movement:
Dollar fell to a record low of $1.5/ euro on speculation that Bernanke will indicate more interest rates cuts today, Yen appreciates by 56 bps at 106.4, Rupee apprecaites by 44 bps at 39.7.Hang Seng index was up over 3% after Financial Sec unveiled a series of tax cuts that are expected to increase disposable income.

Taiwan Flows:
FIIs figures of Taiwan showed net buy equities worth $ 657 Million in today’s trade, Provision, FIIs had bought equities worth $ 1.8 billion in last 3 days, Reports that the govt to reduce corporate income tax rate to 17.5% from 25%.

Data To Watch:
UBG EGM is taking place right now, U.S. Fed Chmn Ben Bernanke delivers semi-annual testimony on monetary policy, U.S Durable Goods Orders, U.S. New Home Sales, U.S. EIA Petroleum Status Report.