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Market makes smart recovery during the day in line with the global markets; Nifty managed to close over 4100, Sensex managed to close over 14000 mark;

Friday, August 17, 2007

Market made smart recovery during the day in line with the global markets. Nifty managed to close over 4100 while Sensex managed to close over 14000 mark. Sensex ended down 217 points at 14141.5. It recovered 362 points from days low. Nifty ended down 71 points at 4108. It recovered 100 points from days low. CNX Midcap Index was down 2% while BSE Small-cap Index was down 1.3%. All the BSE Sectoral Indices ended in the red barring Reality Index. BSE Metal Index was down 4.7%, BSE IT Index was down 3% while BSE FMCG Index was down 2.3%.

Index Losers were HPCL, down 8.5%, Sterlite, down 7.2%, Satyam, down 5.8% and Tata Steel, down 5.4%. Index Gainers were RIL, up 0.80%, Sun Pharma, up 1.8% and Wipro, Siemens were up 1% each. NSE Advance Decline ratio stood at 1:4. Total market turnover was at Rs 86945.69 crore vs Rs 63845.27 crore on Thursday.

Rupee depreciated by 0.08% at 41.375 while Yen depreciated by 16 bps at 113.22 (hits intra-day high of 111.57 and intra-day low of 114.09).

Zylog Systems listed on the bourses today which closed at Rs 427.5 vs listing price of Rs 435 (issue price Rs 350).

Recovery in the Indices

Index Low Recovery (%)
Sensex 13779.88 2.62
Nifty 50 4002.2 2.64
CNX Midcap 100 5519.4 2.38
BSE Small Cap 7534.59 2.13

Index Low Recovery (%)
BSE Realty Index 6713.42 4.56
IT Sector 4356.76 3.3
Bank Index 7178.89 2.4
Healthcare Index 3410.08 2.26
Oil and Gas Index 7266.42 2.21
Capital Goods Index 11781.06 2.11
Auto Index 4506.67 1.2
FMCG 1796.16 0.86
Metals Index 9724.78 0.89

F&O Snapshot:

Nifty futures discount narrowed 15 points vs 35 points on Thursday (has narrowed to 6 & widened to 50 points during the day). Nifty futures turnover was 45% of total FNO turnover. Nifty futures added 56.6 lakh shares in OI. Short covering was seen in the reality stocks (Unitech, GMR) and stocks like L&T, Wipro, REL, and Jindal Stainless. Fresh shorts were seen in technology, metal & capital good stocks. Unwinding of long positions was seen in reality stocks(Lanco, Parsvnath, HDIL).

Long Positions were seen in the following stocks:
Nagarjuna Fertilizers was up 17%, added 1.33 crore shares in OI
RIL was up 1.2%, added 2.8 lakh shares in OI
IndusInd Bank was up 5.5%, added 5.7 lakh shares in OI
Other stocks where long position was seen India Cement, Bank of India, and Moser Baer

Short Covering was seen in the following stocks:
Realty: Unitech, GMR Infra, IVRCL Infra
Biggies: L&T, Wipro, REL, and Jindal Stainless
Other: Chambal Fert, MphasiS, LIC Housing & Triveni Eng

Fresh Shorts were seen in the following stocks:
Tech: Satyam, Patni, I-flex, TCS, Infosys
Metal: Tata Steel, JSW Steel, SAIL (unwinding)
Others; BHEL, DLF, ONGC, ABB

Unwinding:

Reality; Lanco, Parsvnath, HDIL
Others: Bongaigaon Refinery, Balrampur Chini, Praj Industries

Intra day recovery was seen in the following stocks:

Stock Name Low Recovery (%)
Indiabulls Finance 402.7 14.45
Indiabulls Real 403 14.14
India Infoline 506.65 11.97
Lanco Infratech 224.2 10.59
IDFC 105.3 8.93
Orbit Corp 403.3 8.36
Punj Lloyd 238.25 6.4
Unitech 455.3 6.31
IVRCL Infrastructure 319 6.24
Infosys 1743.15 6.2
Wipro 445 6.04
Reliance Communication 465.75 5.94
Reliance Energy 681 5.58
Bharti Airtel 750 5.33
Parsvnath Developers 275 5.02
GMR Infrastructure 727.5 4.74
HDIL 480 4.58
India Cement 205.25 4.51

Posted by FR at 10:55 PM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.