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Old 11-03-2009, 06:29 PM
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Default Nifty freefalls, closes below 4600; realty, metal dip 6-9%

The Nifty saw a sharp sell-off today and inched back towards the 4500 level for the first time in two months. It fell for the sixth consecutive day on huge volumes and closed below psychological - 4,600 mark for the first time since August 21, 2009. Huge shorts build up and weak global cues hammered the equity benchmarks. High beta stocks were beaten down badly.


The benchmark indices tumbled in the second half post European opening and fall in the US index futures. At the time of writing this report, European markets were down nearly 2% on the back of selling in financial stocks. UBS was the main trigger, as it posted loss in the Q3CY09 on the back of higher accounting charges and heavy withdrawals from big clients. It lost over 4%. Lloyds Banking Group is going to raise 13.5 billion pound and Royal Bank of Scotland (down over 2%) planned to sell-off some of its businesses.
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Old 11-03-2009, 06:30 PM
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Chris Wood, Equity Strategist, CLSA, said the chances of a deeper correction in global equities were rising.



Jim Walker, MD, Asianomics, too didn't see a V-shaped recovery in global equities. "If you look at the level of activity across the world from Europe to America to Japan to Asia, it is weak. It's a very weak recovery so far and as governments withdraw stimulus over the course of the next year, it is going to get weaker still."


Index
Closing Value
Chg (%)
REALTY 3,453.63 -9.76
METAL 13,110.68 -5.95
SMALLCAP 6,741.24 -4.5
OIL&GAS 9,047.91 -4.1
MIDCAP 5,789.49 -3.74
POWER 2,812.78 -3.49
IT 4,273.38 -3.44
CAP GOODS 12,462.02 -3.2
TECk 2,780.10 -2.64
FMCG 2,736.84 -2.57
BANKEX 9,156.16 -1.93
AUTO 6,235.73 -1.13
PHARMA 4,353.70 -0.54




The US index futures slipped nearly 1%. Asian markets ended lower barring Shanghai. Hang Seng and Jakarta slipped 1.6-1.8%. Straits Times and Kospi fell 0.6-0.9%. Taiwan Weighted lost 0.17%. However, Shanghai gained 1.2%. Nikkei was shut today.


Jon Greenlee, the associate director of the Fed's Division of Banking Supervision and Regulation, said US banks were at risk for sizable new loan losses, particularly on commercial property, and some banks may not have enough capital to fully cushion against setbacks.



Selling was seen across all the sectors. The BSE Realty Index crashed 9.7%. Metal, oil & gas, power, technology and capital goods stocks also cracked, respective indices fell 3-6%. Heavyweight Reliance Industries was one of the main culprit today, down over 5.8%.


The 30-share BSE Sen*** closed at 15,404.94, down 491.34 points or 3.09%, after seeing a day's low of 15,330.56. The 50-share NSE Nifty plunged 147.80 points or 3.14%, to settle at 4563.90, after seeing an intraday low of 4538.50. Equity benchmarks tumbled 8.4% and 8.7% in six days, respectively.
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Old 11-03-2009, 06:30 PM
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In the oil & gas space, Reliance Industries tanked 5.73%. IOC, Cairn India, HPCL and GAIL slipped 2-2.8%. ONGC was down 1.27% and BPCL down 0.53%.

In the power pack, Suzlon Energy lost 12.93% post disappointing results. Reliance Infrastructure lost 6%. GMR Infra, Neyveli Lignite, NTPC, Tata Power and Power Grid Corp were down 1.9-4%.


Technology stocks like HCL Tech, Wipro, Tech Mahindra, TCS and Infosys tumbled 3-7.5%.


In the FMCG space, United Spirits and United Breweries declined over 6.4%. HUL lost 3.60% (post weak numbers) and ITC was down 2.65%. Tata Tea slipped 2.42% and Dabur India was down 0.59%.
In the capital goods space, Punj Lloyd, ABB, Siemens, BHEL and L&T were down 2.6-6%.


Telecom stocks also witnessed selling pressure barring Bharti Airtel. Tata Communication lost 9.69%. Reliance Communication (on disappointing quarterly numbers), MTNL, Tata Teleservices and Idea Cellular were down 2.7-5.7%.



However, Bharti Airtel rose 2.7% on good volumes. SingTel said would buy additional 730,000 shares in Bharti Telecom. Bharti Telecom is a promoter company of Bharti Airtel holding about 45.3%. -SingTel’s effective interest in Bharti Telecom to increase to 36.16% versus 32.81% and in Bharti Airtel to increase to 31.95% versus 30.43%.
In the auto space, Hero Honda, M&M, Tata Motors and Bharat Forge fell 1-3.5% while Maruti Suzuki declined 1.7%.
The broader indices underperformed the benchmark indices; the BSE Midcap Index fell 3.7% and Smallcap Index lost 4.5%. The Nifty November futures ended with 27 points discount, as per provisional data.


In the midcap space, Jet Airways gained 7%. MRF, Bayer Cropscience, Marico and Indian Hotels were up 3-5% while Indiabulls Financial slipped 18.87% and Indiabulls Real fell 16.15%. Rolta, Aban Offshore and Gujarat NRE Coke declined 13-13.5%.
In the smallcap space, Hawkins Cooker surged 14% and Ushdev Int was up 10%. Mukand, Geekay Finance and Falcon Tyres went up 4.5-6%. However, Indiabulls Securities was down 19% and Genus Power lost 18.04%. ICSA, Godawari Power and Gwalior Chemical declined 13%.


Declines outnumbered advances; about 710 shares advanced while 2,294 shares declined on the NSE. Nearly 759 shares remained unchanged.


Volumes remained above the Rs 1 lakh crore mark; total traded turnover was at Rs 1,04,071.99 crore. This included Rs 17,384.07 crore from the NSE cash segment, Rs 81,574.39 crore from the NSE F&O and the balance Rs 5,113.53 crore from the BSE cash segment.
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Old 11-03-2009, 06:32 PM
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Heavyweight Reliance Industries tumbled nearly 5% and SBI was down over 4%. However, Bharti Airtel gained 3.2% and ICICI Bank rose 1%.


The Nifty fell 112 points to 4,598 and the Sen*** declined 387 points to 15,509. The broader indices slipped over 3%, as about 189 shares advanced while 1,082 shares declined on the NSE.


In the European markets, UBS tumbled over 4% post disappointing quarterly numbers. It posted loss in the quarter. RBS (Royal Bank of Scotland is planning to sell some businesses.


On the sectoral front, the BSE Realty Index tumbled 8.5%. Metal was down 4.7%, Oil & Gas, IT, Power, Capital Goods and TECk indices fell 2-3%. FMCG and Auto indices slipped 1-1.7%.


In the largecaps, Suzlon Energy tumbled 10.70%. DLF, Hindalco, Unitech, ACC, HCL Tech, Sterlite Industries, Reliance Capital, Jaiprakash Associates, Reliance Infrastructure, ABB, Reliance Industries and Tata Steel fell 4.5-9%.


In the midcap space, Jet Airways, MRF, Bayer Cropscience, Marico and Apollo Tyres gained 3.3-5.7% while Indiabulls Financial tumbled 19%. Indiabulls Real, Rolta, Gujarat NRE Coke and Dishman Pharma slipped 10-12%.


In the smallcap space, Hawkins Cooker surged 14.7%. Mukand, Savita Oil Tech, Geekay Finance and Bliss GVS went up 4-7% while Genus Power, Indiabulls Securities and KPR Mill lost 16-17%. Godawari Power and ICSA fell 12%.


Sen*** slips further on weak European cues
At 13:53 hours IST - the Nifty slid further post European markets' opening. Realty, power, metal, technology, select cement and telecom stocks were witnessing selling pressure. Heavyweights Reliance Industries, SBI and HUL slipped 2.4%, 3% and 1.6%, respectively. On the global front, European markets were down nearly 1.5% each and US index futures declined 0.5% each.


However, Bharti Airtel shot up over 4% and ICICI Bank up over 2%. ITC, ONGC, Sun Pharma, Tata Power, Maruti, PNB, Siemens, Grasim, BPCL and Ranbaxy Labs were other gainers.


The Sen*** was down 161 points to 15,734 and the Nifty fell 51 points to 4,661. The broader indices were underperforming the benchmark indices; the BSE Midcap index declined 1.6% and Smallcap Index was down 2.2%. About 269 shares advanced while 992 shares declined on the NSE.


In the realty space, Indiabulls Real, Unitech and DLF slipped 6-7.5%.
In the power pack, Suzlon Energy tumbled over 11% and Reliance Infrastructure declined over 5%. ABB, Neyveli Lignite, NTPC, Lanco Infratech, Torrent Power, NHPC, Power Grid Corp, Reliance Power and Adani Power slipped 1-4.4%. BHEL was down 0.46%.


Metal stocks like Hindalco lost over 6%. Tata Steel, Sesa Goa, Sterlite Industries, Jindal Saw, Jindal Steel and NALCO fell 1-4.4%. SAIL was down 0.58%.
In the technology space, Wipro plunged 4.53%. HCL Tech, TCS, Tech Mahindra and Infosys were down 1-2.3%.


In the telecom pack, Tata Communication tumbled 8.74%. Reliance Communication was down 4.86%. MTNL, Idea Cellular and Tata Teleservices were down 1.6-2.6%.


In the midcap space, Jet Airways, Bajaj Hindusthan, Piramal Health, Bayer

Cropscience and Ashok Leyland gained 4.5-5.5% while Indiabulls Financial locked at 20% lower circuit. Dishman Pharma, Anant Raj Industries, Gujarat NRE Coke and Syndicate Bank slipped 9-10.5%.


In the smallcap space, Hawkins Cooker jumped 16.87%. Mukand, Bliss GVS and Savita Oil Tech were up 5.5-8% while Genus Power, Gwalior Chemical, Sanghvi Movers, Godawari Power and Mercator Lines lost 10-18%.


Nifty consolidates; Bharti up 4.5%, RIL, SBI, DLF drag
At 12:39 hours IST, the Nifty was consolidating at current levels as traders looked cautious after heavy sell-off in the last five days. Both the equity benchmarks were hovering at their previous closing values. Heavyweights Reliance Industries, SBI and HUL were down 1.3-2.5%. Realty, technology, power, select metal and cement stocks were under pressure. Hero Honda lost over 2%.


However, heavyweight Bharti Airtel surged 4.5% and ICICI Bank rose over 3%. Capital goods, Auto, oil & gas (barring RIL), pharma and select banking stocks were seeing buying interest.


The Sen*** was up just 11 points at 15,907 and the Nifty gained 1 point at 4,712. The market breadth was weak; about 416 shares advanced while 836 shares declined on the NSE. The BSE Midcap Index fell 0.4% and the Smallcap Index lost 1%.
In the largecaps, Suzlon Energy plunged over 9% on disappointing numbers. Reliance Communication, Hindalco, ABB and DLF fell 4.5-5%. Reliance Infrastructure slipped 2.5%.


In the midcap space, Bajaj Hindusthan surged 8.43% while Balrampur Chini lost 6.5%. According to CNBC-TV18's exclusive sources, deal between Bajaj Hindusthan and Balrampur is called off on differences. Bajaj Hind was looking to buy promoter stake in Balrampur.


Bayer Cropsciences, Ashok Leyland, Piramal Health and IRB Infra were up 4.8-6% while Indiabulls Financial, Syndicate Bank, Anant Raj Industries and Educomp Solutions declined 6.5-8.6%.


In the smallcap space, Hawkins Cooker surged over 18% and Mukand was up 12%. Bliss GVS and Savita Oil Tech gained 6.5-8%. However, Genus Power, Gwalior Chemical, Shanthi Gears, Godawari Power and Prime Securities slipped 8-12%.
In the realty space, Indiabulls Real, DLF and Unitech fell 4-5.5%.



Power stocks like ABB, Reliance Infrastructure, Neyveli Lignite, Reliance Power, Adani Power and Lanco Infratech lost 1-5%. NHPC and NTPC declined 0.3-0.6%.
In the technology space, HCL Tech, Wipro, Infosys, Tech Mahindra and TCS declined 0.8-3%.


However, L&T, Siemens and BHEL gained 0.7-0.9%.



In the auto pack, Ashok Leyland, Bajaj Auto, Bharat Forge, Apollo Tyres and Tata Motors were up 1-5.6%. Maruti Suzuki rose 0.78%.


Sen*** inching towards 16K; pharma, auto gain
At 11.53 hrs IST, the Nifty was trading above 4700 amid volatility. Reliance Communication, Hindalco, Reliance Infra and Hindustan Unilever were the top draggers to the Sen*** post disappointing results announced by the companies over the weekend. The BSE Midcap & Smallcap Index was down 0.7% & 1.27% respectively. Realty, metal, Oil&Gas, IT continued to reel under pressure. The bulls were betting on pharma, auto & capital goods stocks.


The Sen*** was up 8.99 points or 0.06% at 15905.27 inching toward the 16000 mark and the Nifty was up 12.70 points or 0.27% at 4724.40. About 1133 shares advanced, 1786 shares declined, and 844 shares were unchanged.



SAIL and JSW Steel reduced flat product prices. The stocks gained more than 1% each. Sources told CNBC-TV18 that Mahindra Satyam was likely to sign USD 200 million outsourcing deal with SAAB. The stock was trading marginally in the green.
ADAG stocks like Reliance Infra, Reliance Capital, Reliance Communication were down 3-4%.



In the midcap space, Bajaj Hindusthan gained 9%. The stock has been buzzing post news of Balrampur Chini buyout. Ashok Leyland, Piramal Healthcare, Bayer Cropscience & Hindustan Construction were up 4-5%. On the losing side, Indiabulls was down more than 9%. Stocks like Syndicate Bank, Dishman Pharma, Future Capital & KGN Industries were down 5-6%.


In the smallcap space Hawkins Cooker was the top gainer with 14.7% gain. Mukand was another smallcap stock with double digit percentage gain. Top losers on the BSE Smallcap were Genus Power, Godawari Power, Webel SL Energy, Forbes Gokak & Gwalior Chem down 9-12%.


Sen*** volatile; Bharti, ICICI Bank, ITC, L&T, BHEL gain

At 10:57 hours IST, the Sen*** turned into the green and was witnessing volatility. Heavyweights Bharti Airtel, ITC and ICICI Bank were supportive, gained 1.7-2.3%. Auto stocks were seeing buying interest post good sales numbers for the month of October. Buying in capital goods, select banking, pharma and steel stocks also capped the losses.

However, selling continued in realty, technology and power companies' shares. Reliance Industries, HUL, Reliance Communication, Hindalco, SBI and Hero Honda were the other losers.


The Sen*** was up 19 points at 15,915 and the Nifty gained just 2 points to 4,713. However, the broader indices were down. The BSE Midcap Index fell 0.4% and the Smallcap Index lost 1%. About 1,122 shares advanced while 1,773 shares declined on the BSE. Nearly 868 shares were unchanged.



L&T gained over 1.5%, as it bagged order worth Rs 6,897 crore for 2,000 MW power plant.


Unity Infra and IVRCL joint venture received order worth Rs 1,150 crore. Unity Infraprojects rose 2.7% and IVRCL Infrastructure was up just 0.3%.
In a block deal, 1.10 crore shares of Sanghi Industries changed hands on BSE at Rs 33 per share.


Videocon's board approved raising up to Rs 1,200 crore via rights issue. The stock fell 3%.


In the midcap space, Bajaj Hindusthan shot up 8%. Jain Irrigation, Ashok Leyland, Nirma and BEML were up 3-3.8% while Balrampur Chini lost 7%. Indiabulls Financial, Syndicate Bank, Dishman Pharma and Gujarat Flourochem slipped 5-6.6%.
In the smallcap space Disa India, Mukand and Hawkins Cooker jumped 12-14.5%. Sanghi Industries rose 8.6%. However, Genus Power, Godawari Power, Sanwaria Agro, Gwalior Chemical and Shanthi Gears declined 9-13%.


Nifty trades below 4700; Suzlon, RComm, HUL, Hindalco tank
The Nifty opened lower and was trading below the 4,700 mark on the back of sell-off in largecaps post disappointing results on Saturday. The markets were reacting to Friday's fall of 250 points in the US markets on sell-off in financial stocks, as our markets were closed on Monday.


At 9:56 am, the Sen*** was down 94 points at 15,801 and the Nifty declined 30 points to 4,681. The CNX Midcap slipped 23 points to 6,556. About 262 shares advanced while 450 shares declined on the NSE.



Among the frontliners, Suzlon, Reliance Communications, Hindalco, Idea Cellular, Unitech and Hindustan Unilever were under pressure on disappointing results.
ACC, Cipla, Reliance Power, ABB, ICICI Bank, SBI and Jindal Steel were other the losers.


However, ONGC, SAIL, Jaiprakash Associates, Ranbaxy, Infosys and HDFC capped the losses to some exent.


Ashok Leyland, Tata Motors and Maruti gained 1-2% on good auto sales numbers for October 2009.


Midcap space:
Balrampur Chini fell 3% while Bajaj Hindusthan gained 6%.
Recently listed, Indiabulls Power was down another 2% to Rs 38.65.
Syndicate Bank fell 5.5%.


Global cues:
Asian markets were trading mixed. Shanghai was up 1.3% while Hang Seng and Kospi fell 0.5-0.8%. Straits Times and Taiwan Weighted were flat. SGX Nifty was down over 1%.


The US markets witnessed worst weekly loss in 5 months and snapped seven straight months of gains. These markets slid 2.5% on Friday ((biggest 1 day % drop since July)) while they gained 0.8% on Monday but slipped from day's high. ((The Dow Jones ended down 250 poonts on Friday while gained 77 points on Monday))


US financials hit on Friday after an analyst comment that Citigroup may have to take another $10 bullion in write-downs and likely CIT bankruptcy filing in next few days.
The Dow Jones Industrial Average ended up 77 points at 9,789 on Monday, after slipping 70 points from day's high of 9,858.


The Nasdaq Composite was up 4 points at 2,049 on Monday, after slipping 20 points from day's high of 2,069 and the S&P 500 Index ended up 6.7 points at 1,043 on Monday, after slipping 10 points from day's high of 1,052.




Market cu

-FIIs net buy Rs 576 crore in cash on October 30
-DIIs net buy Rs 593 crore in cash on October 30
-FIIs net buy Rs 2070 crore in F&O on October 30



F&O cues:
-Total F&O Open Interest up by Rs 3478 crore at Rs 81,625 crore
-Total Futures Open Interest down by Rs 704 crore
-Nifty down 0.8%, Futures Open Interest up 2%
-Nifty Nov Futures trading at a 4-pt discount
-Nifty PCR ratio down from 1.28 to 1.13
-Nifty IVs at 25-27%
-Nifty Calls add 59 lakh shares in Open Interest
-Nifty Puts add 17 lakh shares in Open Interest
-Nifty 4800 Call adds 19.1 lakh shares in Open Interest
-Nifty 4900 Call adds 12 lakh shares in Open Interest
-Nifty 4700 Call adds 8.5 lakh shares in Open Interest
-Nifty 5000 Call adds 6.3 lakh shares in Open Interest
-Nifty 4800 Put sheds 5.3 lakh shares in Open Interest
-Stock Futures shed 2.9 cr shares in Open Interest
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