Monday, 25 February, 2008

Sensex up 302 pts at 17651; Nifty up 90 pts at 5201

Relief Rally for the markets in line with global peers. It clocked highest turnover for the month. Sensex was up 302 pts at 17651. It recovered over 500 pts from day’s lows. Nifty was up 90 pts at 5201. It recovered over 140 pts from day’s lows. Market Breadth was weak with NSE Advance Decline ratio of 2:3. CNX Midcap Index was down 0.1%, BSE Small cap Index was down 0.7%. BSE Oil & Gas Index was up 3.6%; Reliance was up 4.8%, GAIL was up 4.5%, Cairn was up 2.7%. BSE IT Index was up 1.9%, HCL Tech was up 4.1%, Wipro was up 3%, Satyam was up 2.9%, BSE Realty Index was up 1.1%; Unitech was up 3.3%, BSE Metals Index was up 1%, Nalco was up 3.9%, Hindalco was up 2.4%, Sterlite Ind was up 1.7%. Reliance Power closed above the issue price for the first time. Stock was up 8%, REL was up 4%. Cements stocks see buying interest Stocks like ACC was up 5.7%, Grasim was up 4%, Ambuja Cem was up 3.9%.

Other Index Gainers & Losers
Maruti was up 4.5%, Sun Pharma was up 3.5%, Idea was up 3.5%, Hero Honda was up 2.9%. Other Index Losers were stocks like Bajaj Auto was down 4.1%, HDFC Bank was down 3.6%, Suzlon was down 2.4%.

Non Index Gainers & Loser
Non Index Gainers & Loser were stock like JP Associates was up 4.8%, KS Oils was up 11.8%, Sirpur Paper was up 6.7%, HMT was up 5%, Karuturi was up 5%, REI Agro was up 5%. Non Index Losers were stoicks like Centurion BoP was down 14.2%, Mercator Line was down 5%, India Info was down 4.6%, Bajaj Hind down 4.4%, Hexaware down 4.3%, Sesa Goa down 4.3%. NSE Advance Decline is 2:3. Total Turnover at Rs 68,651 Cr Vs Rs 51,253 Cr on Friday.

Futures & Options:
Futures & Options Turnover picks up in F&O space on the back of stable trade in second half. Marketwide rollover was at 32%. Nifty rollover was at 32%. Nifty short rollover cost at around 25 points. Long rolls seen in Cement, Metal stocks. IT Stocks see rollovers picking up. Rollover cost remained flattish. Reliance Power Feb Series shedd 14.73 lakh shares. Fresh Shorts were seen in April CoC fluctuates between 10-14 point discount. Short Rollovers seen in Unitech, ONGC.

Fresh Longs/Long Rollover:
Metal Stocks like Hindalco was up 2% adding 15.34 lakh shares in March. Rollover at 69.4%. SAIL added 27.16 lakh shares in March Rollover at 29%. Cement Stocks like Ultratech Cement added 2 lakh shares in March Rollover at 65%. Positive March CoC seen. India Cement was up 5% adding 7.74 lakh shares in March. Rollover was at 53.5% positive March coc seen. ACC was up 6.3% adding 3.52 lakh shares in March, Rollover at 33.4%. Misc Chennai Petro, Siemens, Century Textiles, PFC, SRF, MTNL, IDBI, TVS Motor Pharma: Cipla, Aurobindo Pharma. Short Rollover was seen in stocks like Unitech, ONGC, Sunpharma, GSK Pharma.

Global Factors:
Ambac bailout to be announced on Monday or Tuesday, Nikkei is up 3% on back of fresh inflows, Kospi was up 1.3%. New president was sworn in to revive the economy through sweeping reform and deregulation, Thailand is up 1.2% as the economy grew at the fastest pace in 7 quarters, exceeding economist's estimates. Shanghai is down 4% on profit booking. Taiwan was up 2.2%. Taiwan Gvernment to reduce corporate income tax rate to 17.5% from 25%.

Data To Watch
2 FOMC voting members to speak, U.S. Existing Home Sales Data, U.S. Jan Chicago Fed National Activity Index, U.S. Feb Dallas Fed Survey.

Buzzing Stock
Reliance Power, Board approves bonus of 3 shares for every 5 shares.

CBoP, HDFC Bank, CBoP boards give in principle approval for merger, Swap ratio of 1 shr of HDFC Bk for every 29 shrs of CBoP. KS Oils Block deal of 60 lakh shares on NSE at Rs 86.50 per share.

Tulsi Extrusions
Among top traded volumes on NSE on listing day, BSE + NSE volumes nearly 10x total issue size.

Sical Logistics
Goes ex-demerger of non logistics biz. The base price Rs 257.