Wednesday 13 February 2008

Sensex up 341 points at 16949;Nifty up 91 pts at 4929

Markets ended strong but see selling at higher levels. Nifty ended below its 200 DMA for third consecutive day. Sensex up 341 points at 16949 which Swang about 416 pts for Intrday. Nifty was up 91 pts at 4929 Swang about 150 pts in the session. CNX Midcap Index up 0.8%, BSE Small cap Index up 1.3%.

BSE Realty Index was up 4.2%; Unitech was up 13.7%, DLF was up 2.7%. BSE Metals Index was up 3.5%. Tata Steel was up 6.7%, SAIL was up 6.1%, Sterlite Ind was up 4%, Nalco was down 3%. BSE FMCG Index was up 3.3%; ITC was up 5.8%. BSE Bank Index was up 2.8%; HDFC Bank was up 4.3%, ICICI Bank was up 3.2%, SBI was up 3.2%. BSE Oil & Gas was up 2.5%; Reliance was up 2.8%, GAIL was up 2.1%, Cairn was up 1.9%. Cords Cable closes at Rs 139.45 vs listing price of Rs 138. The Issue Price is at Rs 135.

Other Index Gainers & Index Losers:
Hero Honda was up 7.2%, BHEL up 5.1%, Suzlon up 4.3%, HDFC up 3.9%, Ambuja Cem up 3%. Among Index Losers are Cipla was down 3.8%, Wipro was down 3.1%, Idea was down 2.9%, RCom was down 2.9%

Non Index Gainers & Losers:
Essar Oil up 12.3%, Nagarjuna Cons up 8.6%, Rcap up 7.3%, HOEC up 7.2%, Bank of India up 6.2%, Rolta up 6.1%, Among Non-Index Losers are JP Associates was down 12%, Bajaj Hind was down 9.9%, Shree Renuka was down 8.1%, Balrampur Chini was down 5.6%, PFC was down 7.7%, Future Cap was down 6.1%. NSE Advance Decline is 1:2. Total Turnover at Rs 56,517 Cr Vs Rs 55,505 Cr.

F&O Snapshot:
Nifty ended the day flat after initially trading at a discount. Last hour of trade sees a bout of short covering. Nifty continues to contribute more than 40% of Total F&O Turnover. Momentum did pick up in F&O space. Volumes remained low. Selective large Cap momentum stocks did seen long buildup. Cost of Carry stocks did show short buildup over the last week rally on some short covering. Star Performers were stocks like
Essar Oil was up 19.7% adding 8.13 lakh shares, unitech was up 13.6% adding 11.7 lakh shares, Reliance Capital was up 8.9% adding 3 lakh shares. Positive CoC was seen, Orchid Chem was up 8.3% adding 2.6 lakh shares, Positive CoC seen

Fresh Longs was seen in large Cap stocks like RNRL,Unitech, ITC, Essar Oil, Tata Steel, RPL, SAIL. Momentum Mid Caps was seen in Ispat Ind, JP Hydro, IFCI, Nagarjuna Fert, India Cement. Short Covering was seen in MTNL, IDBI, Cairn, HOEC, BOI ,TVS Motor, HDIL. Fresh short was seen in Bajaj Hind, PFC, Balrampur Chini, Cipla, Idea, Reliance Power, Power Grid.

Global Cues:
Shanghai opened after long holiday and has ended down 2.4%, Mixed closed for asian markets. Hang Seng & Strait Times up; Kospi was down. Two day BoJ meeting to start on Thursday.

European markets took the clue from ThyssenKrupp AG as it misses estimates. Investor sentiment is Low; Waiting to see how economic slowdown will effect UK. ABB's CEO Fred Kindle will be leaving over differences with the board.

No Indication from Dow Futures. Data to watch from US: Retail Sales: Consensus is a degrowth of 0.3%.