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Sensex gains over 260 points, swings 410 pts during the day

Wednesday, August 22, 2007

In volatile trading, the benchmark Sensex surged over 260 points at 14248, swings 410 points during the day. Nifty up 78 points at 4153; swings 125 points during the day. CNX Midcap Index up 0.79%, BSE Small-cap Index down 0.26%

BSE Capital Goods Index up 3.40%, BSE Metal, FMCG Indices up 2.4% each. Index Gainers: Siemens up 9%, BHEL up 5.2%, REL up 4.5%, Suzlon up 4.5%.BSE Realty Index remained down 0.55%, Unitech was down 3.3%

NSE Advance Decline ratio at 5:6.Total market turnover at Rs 66667.54 cr vs. Rs 61103.47 cr on Tuesday

Currency movement
Yen depreciates by 55 bps at 114.9 (has hit an intra-day low of 115.05), Rupee appreciates by 41 bps at 40.91

F&O SNAPSHOT
Nifty futures discount at 6 points, had turned into premium during the day. Nifty futures turnover is 40% of total FNO turnover. Nifty futures add 19.5 lakh shares in OI vs addition of 30 lakh shares during the day. Short covering was seen across sector, specifically in Metal, Tech & FMCG pack. Long positions were seen in cement, RIL, SAIL, Siemens India. Fresh shorts was seen in selective mid-cap banking stocks. Unwinding of long positions was seen in sugar stocks. Fertiliser stocks surge in late trade on back of addition of long positions.

SHORT COVERING
FMCG: ITC, HUL
Metal: Tata Steel, Hindalco, Nalco, and Sterlite
Oil & Gas: ONGC, GAIL
Technology: Infosys, TCS, Patni
Energy: REL, Suzlon, BHEL
Telecom: Bharti Airtel, R Comm
Biggies: ICICI Bank, Rel Capital, DLF, L&T, and BHEL
Mid-cap: Punj Lloyd, Praj, IDFC, and Moser Baer

LONG POSITIONS
Biggies: RIL, SAIL, Siemens India
Cement: Ambuja Cem, India Cem
Mid-cap: Voltas, Century Textiles, Karnataka Bank

FRESH SHORTS
Biggies: Cipla, SBI, Tata Mot
Mid-cap: BoB, Escorts, PNB and BoI

UNWIDING OF LONG POSITIOSN
Sugar: Bajaj Hind, Balrampur Chini, Shree Renuka, and Triveni Eng

FERTLISER STOCKS
Nagarjuna Fert went up by 4.75% and added 47.8 lakh shares in OI. Chambal Fert also went up 17.8% and added 34.3 lakh shares in OI

GLOBAL MARKETS
Indonesia up 3.5%, Straits Times, Hang Seng up 2.9% each, Thailand up 2.6%.Korea up 1.3%, Shanghai up 0.50%

Posted by FR at 5:42 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.