Friday 15 February 2008

Sensex up 349 points; Nifty up 101 pts at 5303

Market recover from day's low on short covering and fresh buying. Market clock highest turnover for the week. Sensex was up 349 points at 18115 recoevred nearly 670 pts fropm day's low. Nifty was up 101 pts at 5303 which recoevred nearly 200 pts fropm day's low. CNX Midcap Index up 2.3%. BSE Small cap Index was up 2.3%.

All sectoral indices end in the green. BSE Metals Index was up 5.7%; Hindalco was up 9%, Tata Steel was up 5.1%, Nalco was up 3.6%, SAIL was up 3.1%. BSE Realty Index was up 7.6%; Unitech was up 6.6%, DLF was up 1.8%. BSE Oil & Gas was up 7.4%; GAIL was up 4.2%, Reliance was up 3%. BSE Bank Index was up 2.5%; SBI was up 4%, ICICI Bank was up 2.5%.

Among Index Gainers Bajaj Auto was up 4.7%, Ranbaxy was up 4.4%, HCL Tech was up 4.3%, HUL was up 4%, M&M was up 3.9%
Non Index Gainers stocks like Essar Oil was up 9.6%, Bombay Rayon was up 9.2%, Shree Renuka was up 9.1%, UTV was up 8.3%, Nagarjuna Cons was up 7.6%, IDBI was up 7.6%, Adlabs was up 7.2%. NSE Advance Decline is 4:1. Total Turnover at Rs 63,243 Cr Vs Rs 57,198 Cr.

Market This Week
Sensex Recovered over 1,600 pts from week's low Of 16,457.7. Nifty Recovered nearly 500 Pts from Week's low Of 4803.6. Sensex was Up 3.7% or 650 pts at 18115, Nifty was Up 3.6% or 182.5 pts at 5303. CNX Midcap Index was up 0.8%; BSE Small Cap Index was down 3%. BSE Metal Index was up 7%; SAIL was up 9.9%, Tata Steel was up 8.9%. BSE Bank Index was up 7.14%; ICICI Bank was up 10.9%, HDFC Bank was up 8.34%, SBI was Up 4.7%, BSE Oil & Gas Index was Up 5.9%; RIL was Up 6.9%, HPCL was Up 11.25%, BPCL was up 7.2%. Index Gainers stocks like Tata Communciation was up 14.8%, BHEL was Up 12%, Suzlon was Up 7.35%. Index Losers stocks like Reliance Energy was down 12.5% after the Reliance Power Listing. Realty Gainers stocks like Unitech was up 19%, DLF was up 7.9%. Non-Index Buzzers stocks like Rel Cap was up 13.9%, GMR Infra was up 6.2%, JP Associates was down 10.8%, Dish TV was down 10.3%.

Major Events This Week: Rel Pwr Listing,Oil Price Hike, BoJ~Rate Unchanged, Stl Price Rollback.

F&O Snapshot
In F&O segment in Nifty future Momentum stocks continued yesterday’s long buildup position. Contributtion to total turnover goes down from beginning of the week. Nifty discount remains but short covering was seen at the beginning of the day. Nifty 5300 Feb Call added 3.64 lakh shares in Open Interest. Nifty 5400 Feb call added 4.43 lakh shares in Open Interest. Nifty 5200 Put Added 1.79 lakh shares in Open Interest. Nifty 5300 put Added 1.31 lakh shares in Open Interest.

Star Performers:
Star Performers stocks like Essar Oil was up 8.8% adding 7.74 lakh shares, Unitech was up 6.3% adding 10.85 lakh shares, Balrampur Chini was up 6% sheded 3.81 lakh shares, Adlabs was up 6% adding 1.84 lakh shares, Hotel Leela was up 5.6% adding 2.85 lakh shares, Tata Steel was up 5.3% adding 9.71 lakh shares. Arvinde Mills was up 5% adding 4.25 lakh shares.

Fresh Longs:
Fresh Long position was seen in Mid Cap Momentum stocks like JP Associates, IFCI, Ispat, Sydicate Bank, Bongaigaon Refineries. Large Cap stocks like RNRL, Unitech, Tata Steel, SAIL, ITC, Essar Oil, Power Grid, DLF.

Speculative Exits: SpeRPL, Balrampur Chini, TTML, Idea , Punj Lloyd, NTPC.

Market Snapshot:
Asian markets recovered from day's low. Hang Seng, Straits Times recovered nearly 3%, Nikkei 2%, Korea, Shanghai, Taiwan, Jakarta nearly 1.5% from day's low. After FGIC losing its AAA rating. New York Insurance Dept said that MBIA, Ambac may get rescued before they get downgraded.

Shanghai
Shanghai market ended down 1.2%. There were concerns that government might implement further monetary tightening measures. Chinese banks surprised the market with a record lending. January lending up by 237.3 billion yuan at 803.6 bn yuan (YoY). China's trade surplus climbs 23% to $19.5 billion expectation of $ 17 billion.

Taiwan Flows
Taiwan FIIs net buy equities worth $ 140.7 million in today’s trade Provisional. FIIs bought equities worth $ 670 millio during this week Provisonal figures.

Data To Watch
Alert: US financial markets will be closed on Monday for the President's Day. U.S. Empire State Mfg Survey. U.S. Import and Export Prices. U.S. Industrial Production. U.S. Consumer Sentiment Report.