Thursday, 14 February, 2008

Sensex up 817 points at 17767; Nifty up 273 pts at 5202

Strong session of trade with participation across the market albeit under low volumes. Sensex was up 817 points at 17767. Nifty was up 273 pts at 5202. Nifty closed above 5,200. CNX Midcap Index was up 5.3%, BSE Small cap Index was up 4%. All BSE sectoral indices ended in the green.

BSE Capital Goods Index was up 7.5%; BHEL was up 12.9%, REL was up 9.8%, Suzlon was up 8.2%, NTPC was up 7%.BSE Oil & Gas was up 7.4%; RPL was up 14.1%, ONGC was up 8.6%, Reliance was up 5.3%, GAIL was up 3%, Cairn was up 3.4%. BSE Realty Index was up 7.6%; Unitech was up 10.4%, DLF was up 6.3%. BSE Metals Index was up 5.7%; Hindalco was up 9.4%, SAIL was up 7.7%, Nalco was up 6.9%, Sterlite was up 6.7%. Govt hikes petrol price by Rs 2 and diesel price by Re 1 with effect from midnight HPCL was up 15.4%, IOCL was up 13.8%, BPCL was up 11.1%.

Non Index Gainers
Non Index Gainers were stocks like PFC was up 22%, KS Oils was up 18%, Indus Ind Bank was up 17%, Essar Oil was up 16%, Jagran Prakashan was up 16%, Matrix Labs was up 15%, Bombay Rayon was up 14.5%, Praj Industries was up 14.5%. NSE Advance Decline is 9:1. Total Turnover at Rs 57,198 Cr Vs Rs 56,517 Cr.

FNO Snapshot
Nifty futures discount was at 15 points adding 18.7 lakh shares in Open Interest. F&O stocks see huge rally on low volumes. Stock futures witnessed short covering which lends support to the market. Nifty futures accounted for around 40% of total turnover
Mid cap momentum stocks, select Large caps did see long buildup.

HPCL was up 14.9% adding 2.99 lakh shares, BPCL was up 10.2% adding 83 thousand shares
IOC was up 12.8% adding 1.32 lakh shares.

Star Performers
Star Performers were stocks like IndusInd Bank was up 17.4% adding 1.07 lakh shares, CoC positive, Essar Oil was up 15% adding 4.8 lakh shares, HPCL was up 15% adding 2.99 lakh shares, Neyveli Lignite was up 14.5% adding 2.77 lakh shares, RPL was up 14.4% adding 32.4 lakh shares.

Short Covering
Short Covering was seen in Balrampur Chini added 11.35% cut 3.5 lakh shares in Open Interest. MTNL was up 5.5% cut 2.8 lakh shares in Open Interest. PFC was up 21.4% cutting 2.6 lakh shares. IDFC was up 10.5% cuting 1.9 lakh shares.

Fresh Long
Fresh Long was seen in Power stocks like REL, Suzlon, JP Hydro, Neyveli Lignite. Mid Cap Momentum was seen in stocks like Ispat, TTML, Arvind Mills. Large Cap stocks like Unitech, RPL, RNRL, Tatat Steel, ITC. Among Misc stocks like MRPL, Sydicate Bank, Adlabs, India Cem.

Global Markets
Nikkei rose the most since 2002 as economy grew at annualized 3.7% last quarter, twice as fast as expected. Rally led by unexpected GDP numbers from Nikkei and retail sales from U.S. Nikkei, Taiwan, Korea gained over 4%; Hang Seng, Straits Times was up over 3%. Yen trades near 1-month low Vs dollar; around 108.33. Australia's unemployment rate fell to the lowest since 1974.

European News
UBS, Europe's largest bank by assets, posts net loss of $ 11.3 billion after $ 13.7 billion writedowns UBS says that 2008 will be "another difficult year" Commerzbank AG, Germany's 2nd - largest bank, 4Q profit down by 44% on back of writedowns.

Taiwan Flows
Taiwan: FIIs net buy equities worth $ 480 million in today’s trade Provisional.

Data To Watch
Bernanke and Treasury Sec Paulson to testify on the economy to the Senate Banking Committee, in Washington today, U.S. Jobless Claims, EIA Natural Gas Report, U.S. International Trade.