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Sensex up 43 pts; Nifty flat at 4479

Tuesday, September 4, 2007

Markets ended firm after trading in a narrow range on Tuesday due to absence of cues from US. Sensex ended up 43 points at 15465 while Nifty ended flat at 4479 after hitting 4500 during the day. CNX Midcap Index ended flat while BSE Small-cap Index ended up nearly 0.8%. Realty & Pharma stocks have stood out while Auto, Metal, FMCG were under pressure. In Realty stocks; DLF was up 2.1% and Unitech was up 3.5%. In Pharma stocks; Cipla was up 4.6% and Ranbaxy was up 2.5%. Stock of the day was Reliance Energy, which was up 6% at 823 (Lehman initiated coverage on Reliance Energy; 12-month target price of Rs 880).

NSE Advance Decline ratio stood at 3:2. Total market turnover was at Rs 54570.65 crore vs Rs 49345.12 crore on Monday. In currency market, Rupee depreciated by 15 bps at 40.94 (hits intra-day low of 40.97) while Yen appreciated by 27 bps at 115.54 (hits intra-day low of 116 and high of 115.31).

F&O Snapshot:
Nifty futures discount was at 45 points vs 29 points discount yesterday. Nifty futures added 21.2 lakh shares in OI. Nifty futures turnover was at nearly 25% of total FNO turnover. Long positions were seen in cement, energy and Fertilizer/ Chemical stocks while short covering was seen in realty stocks like DLF, Unitech, and Parsvnath.

Long Positions were seen in the following stocks:
Fertilizer/ Chemical stocks: Oswal Chemicals, MRPL
Energy: REL, Tata Power
Cement: India Cement, Kesoram, ACC
Pharma: Ranbaxy
Mid-cap: Dena Bank, Century Textiles, Bata and Omaxe

Short Covering was seen in the following stocks:
Realty stocks: DLF, Unitech, Parsvnath
Other: Nagarjuna Fertilizers, Cipla

Fresh Shorts were seen in the following stocks:
Index Stocks: Bharti Airtel, , BHEL, Reliance Communication and ONGC
Auto: Tata Motors, Bajaj Auto, TVS Motor
Sugar: Triveni Engg, Shree Renuka, and Bajaj Hindustan

In new FNO stocks, Nucleus Software and Bhushan Steel were up by over 7% each. Yes Bank, Havell’s India, Lakshmi Machine succumbed to profit booking.

Buzzing stocks of the day were as follows:
Ambica Agar: gained over 40% in last 3 trading sessions
Aksh Optifibre: looking at raising $ 30-40 m, no significant dilution seen
Spentex: makes fresh move after falling from Rs 42 to Rs 27
Uniply Ind: makes fresh move after falling from Rs 43 to Rs 30.2
JM Fin: hits new 52-week high; recently hired JP Morgan team
Punjab Chemicals: extend gain after Dutch acquisition; up 30% in last 2 days
Noida Toll: working on 2 important projects along with DDA
Sujana Towers: board approves issue of FCCBs up to $ 60 million
Indian Hotels: Taj Group to hike room rates by avg 15% from October
Take Solution: hits new 52-week high; issue price at Rs 730
India Cements: hits new 52-week high
Prime Sec: has been recovering from level of Rs 74; Citigroup has been buying in bulk deal

Posted by FR at 7:14 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.