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Indian Stock Market


Sensex down 70 pts; Nifty down 2.15 pts

Thursday, October 4, 2007

Market showed resilience for second day running after jitters from Hang Seng. Sensex ended down 70 points at 17741. It recovered nearly 250 points from days low. Nifty managed to close above 5,200, recovered nearly 80 points from days low. CNX Midcap Index ended marginally in the red while BSE Small-cap ended in the green. BSE Metal, Cap Goods stocks cushion the fall. BSE Bank Index was down 1.8% in which ICICI Bank was down 1.7%. Power stocks gained ahead of Power Grid listing. Realty stocks bounced from day’s low; Unitech, Orbit gained the most. Auto stocks saw some buying at lower level led by Bajaj Auto. NSE Advance Decline ratio stood at 2:3. Total market turnover was at Rs 95749.83 crore vs Rs 1.35 lakh crore on Wednesday.

New Listing: Kaveri Seeds ended at Rs 230 vs listing price of Rs 215 (Issue Price of Rs 170). Total volume was at 1.8 crore shares (BSE+NSE) vs free float of 53 lakh shares.

IPO Update: Maytas IPO subscribed 51.6 times.

Recovery from lows:
Name Recovery from lows (%)
Nagarjuna Fertilizers 13
PTC India 12.5
Gujarat Ind Power 11
Neyveli Lignite 11
HCC 10.5
Arvind Mills 9.85
India Infoline 9
HDIL 8.8
Lanco Infratech 8
JSW Steel 7
NIIT Tech 6.5
Voltas 5.8
3i Infotech 5
















Power stocks gains ahead of Power Grid Listing
Torrent Power
Indowind Energy
Neyveli Lignite
NTPC
PTC India
Alstom
CESC

Currency movement
Rupee breaches 39.50/$; appreciated 25 bps at 39.48/$ while Dollar hits new 9-year low.

F&O Snapshot
Huge build-up in stock futures was seen in 2nd half. Stock futures added over 7 crore shares in OI. Nifty futures ended at a premium with build-up in OI. Nagarjuna Fertilizers was up 7.5%; added 1.5 crore shares, mostly in last hour of trade. NTPC was up 6%; added 58 lakh shares in OI. PFC was up 7%; added 14 lakh shares in OI. Unitech swung wildly in intra-day trade; ended flat after rising 11% intra-day. IFCI was down 6.5%; sheds 95 lakh shares in OI.

High turnover
REL: Rs 4467 crore
RIL: Rs 2747 crore
Reliance Capital: Rs 2664 crore
Tata Steel: Rs 1739 crore

Fresh longs were seen in:
Steel: Jindal Steel, JSW Steel, Tata Steel
Power: Neyveli Lignite, CESC, Suzlon Energy, NTPC, REL
Misc: India Info, Deccan Aviation, Adlabs, Voltas, ABB, Moser Baer, Dabur
Realty: HDIL, Unitech, Sobha Developers
Auto: Maruti Suzuki, Tata Motors

Fresh shorts were seen in:
Banks: HDFC, OBC, Indian Bank, ICICI Bank, IOB, Andhra Bank
Misc: DLF, ONGC, Sterlite Ind, Reliance Capital

Posted by FR at 6:35 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.