Market came off from day's high on profit booking amid metal, FMCG stocks. Sensex ended up 124 pts at 15750. It slipped 486 pts from day's high. Nifty ended up 14.6 pts at 4754. It slipped 162 pts from day's high. CNX Midcap Index was up 0.38%. It slipped 2.4% from day's high.
Among the front liners, HDFC soared 4.68% at Rs2,470, Infosys rose 4.26% at Rs1,482, ICICI Bank added 3.65% at Rs784, Jaiprakash Associates jumped 3.08% at Rs232.20, Satyam Computers advanced 2.48% at Rs407.25, Mahindra & Mahindra gained 2.45% at Rs666.25 and Bharti Airtel soared 2.41% at Rs824.05. However, Reliance Energy dropped 4.51% at Rs1,230 while Tata Steel declined 3.21% at Rs645.95 and BHEL lost 2.08% at Rs1,852.
The breadth of the market was positive. Of the 2,720 stocks traded on the Bombay Stock Exchange (BSE), 1,763 stocks advanced, 910 stocks declined and 47 stocks ended unchanged. On the sectoral front, 7 out of 13 sectoral indices ended in positive territory. The BSE IT was the lead performer and rose 2.93% at 3,644.35, while the BSE Bankex and Teck index gained 2% each.
IT stocks continued to witness strong buying support. Moser Bear shot up by 4.42% at Rs159.45, Infosys scaled up 4.26% at Rs1,481.95, Rolta India added 4.03% at Rs266, Satyam gained 2.48% at Rs407.25 and Financial Technology scaled up 2.34% at Rs1,640. TCS, I-Flex and HCL Technology ended in positive territory.
Over 1.49 crore IB Securities shares changed hands on the BSE followed by RPL (1.22 crore shares), Kashyap (1.10 crore shares), RNRL (1.02 crore shares) and Essar Oil (0.95 crore shares).
FNO Snapshot
Nifty April continued to account for more than 50% of total turnover. After trading premium for most of the day Nifty April traded at a 4 point discount by day end. Nifty future discount was at 13 pts from premium of 30 pts in the morning. Huge unwinding of long positions was seen in Nifty futures and selected stocks. Call writing was seen at 5000 premium down 11 pts at 65 and 4800 level premium down 23 pts at 140. Put writing was seen at 4800 prem up 2.65 pts at 190.
Long Unwinding were seen in stocks like RPL, Ispat, Nagarjuna Fert. Fresh Longs were seen in Banking stocks like ICICI Bank, SBI. Fresh Shorts were seen in stocks like SAIL, NTPC, RNRL, DLF, Tata Steel, BHEL, Orchid Chem, Unitech, TTML.
Asia Today
Asian markets gained on back of strong US cues. Financial led the gains in Asian market. Nikkei up 4.2%, Hang Seng up 3.2%, Straits Times up 2.5%, Kospi up 2.3%. Citibank's Tokyo was up nearly 14%, Australia's Macquarie Group & South Korea's Kookmin Bank was up 10%.
Global News
ADB cuts Asia’s economic growth forecasts. Asia excluding Japan predicted to grow at 7.6% vs September estimate of 8.2%. IMF cuts global forecast on worst crisis since 1930s. 25% chance of a world recession. European Producer-Price Inflation accelerated to 18-Month high.
DataToWatch
Fed Chairman Bernanke's testimony on the U.S economic outlook before the Joint Economic Committee today and tomorrow, Appears tomorrow at the senate Banking committee to discuss markets and the Fed's role in JPMorgan Chase & Co.'s purchase of Bear Stearns. Challenger Job-Cut Report monthly report on the number of announced corporate layoffs. ADP Employment Report factory Orders dollar level of new orders for both durable and non-durable goods.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment