Tuesday, 5 February, 2008

Sensex up 20 pts at 18663; Nifty up 20 pts at 5484

Markets continued in uncertainty for the day. Total turnover were at sub Rs 50,000 cr levels. Midcaps & Smallcaps outperformed large caps. Sensex closed almost flat at 18663; Nifty closed up 20 pts at 5484. Midcap Index was up 0.76%, BSE Small cap Index was up 1%.

Among BSE Metals Index wasup 2.2%. Stocks like Hindalco was up 1.9%, Tata Steel was up 1.9%, Nalco was down 2.1%, Sterlite was down 1.6%. BSE Realty Index was up 1.5%; Unitech was up 4.4%. BSE Oil & Gas Index was up 1.1%; RPL was up 2.4%, ONGC was up 2.1%, HPCL was up 1.7%. BSE Capgoods Index was up 0.74%; ABB was 5%, L&T was up 1.2%. BSE Auto Index was up 1.6%; Hero Honda was down 5.2%, Maruti was down 2.8%, M&M was down 2.7%, Bajaj Auto was down 2.2%, Tata Motors was down 2.1%. BSE Bank Index was up 1.6%; HDFC Bank was down 2.3%, SBI was down 2%

Among Index Gainers company like Dr Reddy’s was up 4%, NTPC was up 3.9%, Ranbaxy was up 3.7%, Tata Power was up 3.1%, Cipla was up 2.1%. Index Losers: Suzlon down was 2.3%, Idea was down 2.1%, TCS was down 2.1%, Grasim was down 2%. Non Index Gainers Jindal Steel was up 14.3%, Neyveli Lig was up 12.3%, Nagarjuna Fert was up 11.4%, Escorts was up 9.7%, Sobha Dev was up 8.7%, Indus Ind Bank was up 8.1%, Indian Bank was up 7.5%. Among Non Index Losers Geojit Fin was down 4.3%, Indiabulls real was down 4.1%, Guj NRE Coke was down 3.5%, Indiabulls Fin was down 3.2%, Crompton Greaves was down 3%. NSE Advance Decline is 7:4 Total Turnover at Rs 48,740 Vs Rs 59,672 Cr yesterday.

NIfty futures ended at 11 pts premium adding 14.2 lakh shares in Open Interest. Nifty futures turnover was around 30% compared with 50% yesterday. Long positions were seen in RNRL, IFCI, Ispat, NTPC, RPL, JP Hydro, Nag Fert, Neyveli Lignite, Escorts. Short covering were seen in JP Associates, Indian Bank, GE Shipping. Fresh shorts were seen in R Comm, Idea, Suzlon. Stock with biggest Open interest were RNRL up 9% adding 72.4 lakh shares in Open Interest, IFCI was up 9%; added 33.15 lakh shares in Open Interst Ispat was up 6.6% adding 31.5 lakh shares in Open Interest, NTPC was up 4.5% adding 26 lakh shares in Open Interest. RPL was up 3.3% adding 20 lakh shares in Open Interest JP Hydro was up 8% adding 18.5 lakh shares in Open Interest, Nag Fert was up 12.9%; adding 15.6 lakh shares in Open Interest, Neyveli Lignite was up 13.3% adding 7.2 lakh shares in Open Interest.

Market Snapshot
Asian stocks fell for the first time in last four days. Profit booking was seen in most of the asian markets. Taiwan stock market was closed today. Shanghai ended down 1.5%, Straits Times was down 1.26%, Hang Seng was down 0.9%. Some of the stocks fell following brokerage downgrades. Australian stock markt ended down over 1% after the central bank lifted rates to their highest level in 12 years.

Goldman Sachs downgraded Posco amid higher raw-material prices and slower global growth UBS downgraded credit card companies American Express, Capital One & Discover Financial to Sell. Merrill Lynch downgraded Wachovia and Wells Fargo to Sell. Punk Ziegel upgrades Merrill Lynch, Goldman Sachs & Bear Stearns to Market Perform from Sell.

Asian Markets are closed Tomorrow. Chinese Lunar New Year Holiday. Chinese market are shut from Feb 6 2008 & Feb 12 2008. Taiwan markets closed since monday and will only reopen next tuesday. Hang Seng market is open, but closes early at 04:30 GMT. South Korean market will be shut from tomorrow until Friday. Singapore market will close early tomorrow and will be shut on Thursday and Friday. Markets in Malaysia and Jakarta will be shut on Thursday and Friday.

Data To Watch
US: Treasury Secretary Paulson Speaks; US: ISM Non-Manufacturing Index; Australia: Interest Rate Statement.