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Thu, 26th Nov 2009  The Sensex witnessed huge selling pressure in the second half of trade on the back of sell-off across all the sectors and unwinding of positions in leading sectors. It closed below the psychological 17,000 mark while the Nifty closed just above the 5,000 level. The experts were expecting the Nifty closing around 5,100 level on the expiry day.
The markets and F&O segment, both recorded highest ever turnover on the last day of November series. The markets reported total turnover of Rs 1,59,224.71 crore. This included Rs 17,605.67 crore from the NSE cash segment, Rs 1,37,130.38 crore from the NSE F&O and the balance Rs 4,488.66 crore from the BSE cash segment.
Reliance Industries went ex-bonus today. The stock closed 3% lower. It has fixed November 27, 2009 as the record date.
Fall in global markets also weighed on the Indian equities; European markets were down 2% each and the US index futures fell over 1%, at the time of writing this report. Shares of banking and mining companies saw huge sell-off in these markets.
Asian markets also closed lower, which slipped further in the last couple of hours. China's Shanghai bleed the most, down 3.6% on concern that banks will have to raise more capital to meet swelling loan demand which dragged financial companies lower.
According to Reuters, investors fled the market amid mounting worries that the government may take steps to clamp down on surging asset prices. "Concerns over a clampdown on asset prices, including stocks and property, have altered the trend of uninterrupted rises seen from early September until early this week, which was spurred by the strong economic recovery and corporate earnings," said a senior trader at a major Chinese brokerage.
Among the other Asian markets, Hang Seng was down 1.8% and Jakarta down 2.76%. Straits Times fell 1.1%. Nikkei and Kospi declined 0.60-0.77%. Taiwan Weighted was down 0.22%.
Banking, technology, metal and select FMCG stocks saw unwinding of positions. Banking was the major loser today, the BSE Bankex fell 2.64%. ICICI Bank tumbled 3.74%. Bank of Baroda, HDFC Bank, PNB and Axis Bank were down 1.7-3%. SBI was down 3.01%, as the bank said it is further scaling down its credit growth forecast below the 20% mark. And it is not just SBI — other large PSU banks have also said that the Reserve Bank of India's scaled down target of 18% credit growth this fiscal may be tough to achieve.
The 30-share BSE Sensex closed at 16,854.93, down 344.02 points or 2% and the 50-share NSE Nifty was down 102.60 points or 2.01%, to settle at 5005.55.
Tata Steel reported consolidated net loss of Rs 2,707 crore versus loss of Rs 2,208 crore, jump of 22.5% on quarter-on-quarter basis. The stock was down 3.34%. Among the other metal stocks, NALCO, Jindal Steel, JSW Steel, Hindalco, Sterlite Industries, Sesa Goa and SAIL were down 1-4%.
Air India shelved plans for a domestic low cost carrier, government sources told CNBC-TV18. This low cost carrier was a part of Air India's turnaround plan. This news helped the private companies’ shares in trade today. SpiceJet was up 5% and Jet Airways up 5.77% on huge volumes. Kingfisher was up just 0.4%.
Precious metal, Gold made an all-time high of USD 1195.39 an ounce today on weak dollar but it slipped after that. It was trading at USD 1183.06/oz, down 0.33% in the international markets. The dollar Index made fresh 15-month lows today, declined to 74.17. The US dollar has hit 14-year low of Japan's Yen, slipped below 87. It was at 1 1/2-year low versus Swiff Franc and 15-month low versus Euro.
GAIL was down 2.5% in the oil & gas space. IOC, HPCL, Cairn India and BPCL were down 0.8-2%. ONGC fell 0.41%.
Technology stocks like Wipro, TCS, HCL Tech and Infosys declined around 2%. Tech Mahindra was down 1.17%.
In the real estate space, Indiabulls Real tumbled 4.29%. DLF was down 2.18% and Unitech down 1.34%.
Apollo Tyres, Bharat Forge, M&M, Maruti Suzuki, Tata Motors and Ashok Leyland slipped 1-4% while Hero Honda gained 0.9% in the auto space.
GVK Power plunged 4.65% in the power pack. Reliance Infrastructure, NTPC, Reliance Power, Power Grid Corp, GMR Infra and Suzlon Energy were down 0.5-2.5%. Tata Power lost 0.36%.
In the capital goods space, Siemens fell 2.92%. Punj Lloyd, L&T, BHEL and ABB declined 0.4-1.4%.
ITC went down 2.85% in the FMCG space. Nestle, Dabur India, Marico and Britannia were down 0.8-1.5% while HUL gained 0.9%.
In the healthcare segment, Glenmark, Biocon, Cipla and Piramal Health slipped 1-4% while Ranbaxy Labs was up 1.6% and Sun Pharma up 0.9%.
Tata Communications, Tata Teleservices, MTNL and Reliance Communications were down 1.2-2.1%. Bharti Airtel was flat while Idea Cellular was up 0.4% in the telecom pack.
The BSE Midcap Index fell 1.45% and Smallcap was down 0.98%. Declines outnumbered advances in trade today. About 948 shares advanced while 1,947 shares declined on the BSE. Nearly 538 shares remained unchanged.
In the midcap space, India Cements, KGN Industries, EIH and EID Parry gained 4-5% while HOEC, Dena Bank, Sintex India, Vijaya Bank and Mcleod Russel slipped 5-7%.
In the smallcap space, Binani Industries, Mastek, Atlanta and TV Today Network were up 8-13%. Dalmia Cement was up 5.40%. However, Religare Tech, Swaraj Mazda, Mercator Lines, Savita Oil Tech and Allied Digital fell 6-7%.
At 14:47 hours IST, the Nifty breaked the 5,000 mark on the back of sell-off across all the sectors. Weak global cues also weighed on the markets; European markets lost 2% each and the US index futures declined over 1%. The Bankex was the main dragger, down over 2%. All the other sectoral indices fell 0.7-1.8%.
The Sensex tumbled 363 points to 16,835 and the Nifty was down 112 points to 4,995. The broader indices were down 1%, as about 322 shares advanced while 944 shares declined on the NSE.
ICICI Bank declined 3.58% and SBI was down 2.54% in the banking space. HDFC Bank, PNB and Bank of Baroda slipped 1.8-2.3%.
In the oil & gas space, Reliance Industries was down 3.14%. GAIL lost 2.44%. Cairn India, BPCL, IOC, ONGC and HPCL slipped 0.5-1.3%.
HCL Tech, Infosys, Wipro and TCS lost 2-2.6% in the technology pack.
GVK Power tumbled 5.22% and Siemens was down 2.90% in the power space. Lanco Infratech, Neyveli Lignite, NTPC, Power Grid Corp, Reliance Infrastructure, GMR Infra, ABB, BHEL, Reliance Power and Suzlon Energy were down 0.4-1.7%.
In the realty pack, Indiabulls Real plunged 3.11%. DLF and Unitech were down 1-1.5%.
Tata Steel has reported Q2FY10 net loss of Rs 2,719.80 crore as against profit of Rs 2,238.53 crore, QoQ and profit of Rs 4,703.64 crore, YoY. Its operating profit was down to Rs 371.8 crore versus Rs 8,226.76 crore, YoY. The stock was down 5%.
However, Bharti Airtel, Hero Honda, Idea Cellular, Reliance Communications, ACC, Ranbaxy Labs and HUL were gainers.
At 14:06 hours IST - the Sensex breached the 17,000 mark while the Nifty tested the 5,050 level on the downside on the back of further decline in European markets, which lost 1.5-2%. The US index futures slipped nearly 1%. Banking, technology, capital goods, realty, power, select metal and auto stocks along with heavyweight Reliance Industries were seeing selling pressure. However, telecom and cement stocks along with Hero Honda, Hindalco, Sterlite and HUL were witnessing buying interest.
The Nifty lost 71 points to 5,038 and the Sensex declined 220 points to 16,977. The broader indices were down 0.7-1%, as about 346 shares advanced while 909 shares declined on the NSE.
ICICI Bank shot up 3.34% and SBI was up 2.62% in the banking space. Bank of Baroda, HDFC Bank and PNB fell 2% each. Kotak Mahindra and Axis Bank were down 0.5-0.8%.
In the realty space, Indiabulls Real, DLF and Unitech slipped 1-2.5%.
GVK Power, Power Grid Corp, NTPC, GMR Infra, Neyveli Lignite, Lanco Infratech and Reliance Infrastructure declined 1-2.8%. Reliance Power and Tata Power were down 0.5-0.8%.
In the capital goods space, L&T, BHEL, Siemens, ABB and Punj Lloyd went down 0.5-1.5%.
Reliance Industries slipped 1.90% in the oil & gas space. GAIL, BPCL, HPCL, Cairn India, IOC and ONGC were down 0.4-1.5%.
Tata Steel tumbled 4.06% in the metal space. Jindal Steel, SAIL, JSW Steel and Sesa Goa were down 1-2.5%. Sterlite Industries was down 0.38%.
HCL Tech, Tech Mahindra, Infosys, TCS and Wipro were down 0.8-1.5%.
Nifty southbound; telecom, cement, Hero Honda buck trend
At 13:26 hours IST - the Nifty was trading marginally lower amid volatility, as Asian markets declined further. China's Shanghai lost 3.6% on concern that banks will have to raise more capital to meet swelling loan demand which dragged financial companies lower. Hang Seng and Jakarta slipped 2% each. Other Asian markets fell 0.2-0.9%. European markets also opened 0.6% lower.
Banking stocks were the major losers today. SBI was down 1.8%, as the bank said it is further scaling down its credit growth forecast below the 20% mark. And it is not just SBI — other large PSU banks have also said that the Reserve Bank of India's scaled down target of 18% credit growth this fiscal may be tough to achieve.
Among other banking stocks, Union Bank, ICICI Bank and SBI were down 1.9-2.4%. Bank of Baroda, HDFC Bank, IDBI Bank and PNB fell 1-1.4%.
Reliance went ex-bonus today, which announced one bonus share for one equity share held. The stock was down 0.4%.
In the metal space, Tata Steel tanked 3.22%. Jindal Steel was down 1.33% and Sesa Goa down 0.53%. However, Hindalco, NALCO, Jindal Saw and Sterlite Industries gained 0.9-2.8%.
Power stocks like GVK Power, GMR Infra, Power Grid Corp, Neyveli Lignite and Suzlon Energy slipped 1-1.9%. NTPC and Reliance Infrastructure fell 0.3-0.4%.
Tata Motors, L&T, ITC, Ranbaxy Labs, BPCL and Unitech were other losers.
However, buying in telecom and cement stocks capped the losses to major extent. Hero Honda was the leader with over 3% gain.
The Nifty declined 30 points to 5,077 and the Sensex fell 97 points to 17,101. The broader indices were marginally down, as about 1,136 shares advanced while 1,708 shares declined on the BSE. Nearly 589 shares were unchanged.
Reliance Communications and Idea Cellular were up 1.3-1.7% in the telecom space. Bharti Airtel was up 0.7%.
In the cement sector, ACC, Ambuja Cements and Grasim gained 1-2%.
In the midcap space, Bayer Cropscience, India Cements, Birla Corp, KGN Industries and Jet Airways were up 5-6% while HOEC, Dena Bank, Vijaya Bank, Mcleod Russel and PTC India lost 4-6%.
In the smallcap space, Atlanta, TV TodayNetwork, Binani Industries, Graphite India and Money Matters gained 6-11% while Allied Digital, Savita Oil Tech, Mercator Lines, Marathon Nextgen and Jindal Worldwide slipped 5-6.6%.
Sensex trades lower; SBI, ICICI Bank, Tata Steel, RIL dip
At 12.12 hrs IST, the markets were trading in a narrow band with negative bias on expiry day. The Sensex was down 55.97 points or 0.33% at 17142.98, and the Nifty down 21.10 points or 0.41% at 5087.05. Selling was seen in banks, FMCG, IT and capital goods. Buying was seen in auto and metal stocks. The BSE Midcap index was trading with positive bias while the BSE Smallcap index was marginally in the red. Banks fell the most after Chinese banks plunged on concerns of capital raising to meet the growing loan requirements.
The Nifty November future was trading at discount while Nifty December future was trading with 10 points premium. The rollover for market is seen between 65-70%.
About 1259 shares had advanced, 1575 shares declined, and 599 shares were unchanged.
Asian markets were trading lower. China’s stocks fell on concern that banks will have to raise more capital to meet swelling loan demand which dragged the financial companies lower. China's Shanghai Composite plunged 2.40% or 79.066 points at 3,211.099.
In the largecap space, Hindalco was the top gainer on the Nifty with 3.48% gain. Cement stocks like ACC, Ambuja Cements and Grasim rose 1.5-2%. Sterlite Industries was up 1.4% after copper and zinc had hit multi-month highs.
On the losing side, Tata Steel was down 2.35% ahead of its consolidated results. Stocks like HCL Tech, Ranbaxy Labs, Reliance Capital and Jindal Steel were down more than 1% each.
Top gainers on the BSE Midcap: Bayer Cropscience, EIH, India Cements, KGN Industries and Simplex Infra were up 5-6%.
Top losers on the BSE Midcap: Dena Bank, Nagarjuna Construction, United Phosphorous, Vijaya Bank and Hindustan Oil Exploration were down 3-4%.
Top gainers on the BSE Smallcap: Atlanta, Binani Industries, TV Today, HEG and Dalmia Cement were up 6-12%.
Top losers on the BSE Smallcap: Jindal Worldwide, Gee Kay Finance, Allied Digital, Swaraj Mazda and Shristi Infra were down 4-5%.
Nifty struggles at 5100 on weak Asian cues; banks dip
At 11:12 hours IST, the Nifty was consolidating at previous closing value as today is the last day of November series. The sell-off in heavyweights like Reliance Industries, ICICI Bank, BHEL, ITC, Infosys, SBI, HDFC Bank and L&T was keeping the markets on the lower side. However, buying in telecom, cement and realty stocks along with Sterlite, Hindalco, Wipro, Hero Honda and HUL was helping the benchmark indices. Siemens was up over 1% ahead of its results.
Weak Asian markets also weighted on the markets. Shanghai lost 1.7%. Jakarta and Hang Seng fell 1% each. Nikkei and Straits Times were down 0.5% each. Kospi and Taiwan Weighted fell 0.2% each.
The Sensex slipped 50 points to 17,148 and the Nifty declined 16 points to 5,092. The Nifty December future was trading with 11 points premium.
The market breadth was mixed; about 1,451 shares advanced while 1,367 shares declined on the BSE. Nearly 615 shares were unchanged.
In the midcap space, Bayer Cropscience, Birla Corp, India Cements, EIH and KGN Industries gained 5-6% while Dena Bank, United Phosphorous, Vijaya Bank, Bannariamman and Asian Star slipped 3-4%.
In the smallcap space, Atlanta, Dalmia Cement, JK Cement, Heidelberg Cement and BL Kashyap were up 5-8% while Jindal Worldwide, Swaraj Mazda, Allied Digital and Pratibha Industries lost 3.5-5%.
Asian Hotels declined 3.36% post disappointing set of numbers. Its July-September quarter's net profit fell 95% to Rs 0.94 crore. The company said results were impacted by low occupancies and rates. However, it also said, "Occupancies have shown signs of improvement and room rate improvement will follow."
Jyothy Labs was up over 2%, as the management expects over 35% topline growth going forward, mainly driven by volumes. "Gross margins expected to be about 45% after first 6 months."
Sensex choppy with negative bias; RIL goes ex-bonus
The Sensex started the day on a negative note and was consolidating ahead of F&O expiry. Reliance Industries was down 1% at Rs 1,087, the stock went ex-bonus today (bonus issue was 1:1). Metal stocks were seeing buying interest as the CRB Index was up 2.3%. Cement stocks were the strongest.
At 9:56 am, the Nifty was down 12 points at 5,095 and the Sensex fell 39 points to 17,159. However, the CNX Midcap was up 13 points at 7,244, as about 427 shares advanced while 239 shares declined on the NSE.
Among the frontliners, ICICI Bank, HDFC Bank, Reliance Industries, NTPC, HDFC, Tata Steel, TCS, L&T, BHEL, HCL Tech, DLF, Unitech and Tata Steel were the losers. Siemens was flat ahead of its numbers.
Mahindra Satyam lost another 7.5%, which had lost 11% on Wednesday. Tech Mahindra lost 4%, which fell 7% yesterday.
However, ACC, Sun Pharma, Hindalco, Ambuja Cements, PNB, Sterlite, Industries, SAIL, Axis Bank and Bharti Airtel were the gainers in the early trade.
Midcap space:
Heidelberg Cement was up 4.5%. Prism Cement rose 4% and India Cements was up 2%.
Edserv Soft shot up 5% and KPIT Cummins was up 3.7%.
EIH rose 7.5%, as ITC board is considering several options for EIH stake and may consider counter-offer for the company.
Newly listed Astec Life was up 1%.
Dena Bank was down 1%.
Global cues:
Asian markets were down. Hang Seng and Shanghai fell 1% each.
The Dow Jones and S&P 500 closed at fresh 13-month highs on the back of strong economic data and weak dollar. The CRB Index was up 2.3% and the Dollar Index down 1%.
The Dow Jones Industrial Average was up 31 points at 10,464, S&P 500 Index up 5 points at 1,110 and Nasdaq Composite was up 7 points at 2,176.
Initial jobless claims fell to 466,000, lowest level in more than a year. Continuing claims fell to 5.42 million, multi-month low. New home sales were up 6.2% in October to an annualized rate of 430,000, at 1-year high.
Commodities
Reuter CRB Index was up 2.3%.
Crude gained over 2% at $77.9/bbl, as inventories gained less than expected.
Gold ended up 1.7% at $1185.5/ounce.
Gold made record high at $1193/ounce, which gained 16% MTD (month-to-date).
There were reports that India may consider more bullion buying from IMF.
Baltic Dry Index was down 2.4%.
Copper was at 14-month highs and Zinc at 18-month highs.
Market cues:
-FIIs net buy USD 65 million in cash on November 24
-MFs net sell Rs 278.5 crore in cash on November 24
-Total F&O Open Int up by Rs 2,568 crore to Rs 1,19,755 crore
-FIIs net sell Rs 331 crore in cash on November 25 (prov)
-DIIs net buy Rs 141 crore in cash on November 25 (prov)
-FIIs net buy Rs 520 crore in F&O on November 25
F&O cues:
-Total F&O turnover at Rs 91,235 crore versus 1.06 lakh crore on D-1 of last expiry
-Nifty down 0.3% , Futures Open Int up 8%
-Total Futures Open Int up by Rs 2403 crore
-Total Options Open Int up by Rs 165 crore
-Nifty IVs at at 22-26% levels
-Nifty Open Int PCR up from 1.66 to 1.71
-Nifty Dec PO PCR at 1.62
-Nifty Dec Fut trading at 12-pt prem versus 7-pt prem
-Nifty Calls shed 9.8 lakh shares in Open Int
-Nifty Puts adds 8.5 lakh shares in Open Int
-Nifty Dec 5100 Put adds 5.3 lakh shares in Open Int
-Nifty Dec 5000 Put adds 5.2 lakh shares in Open Int
-Nifty Dec 4900 Put adds 2.9 lakh shares in Open Int
-Nifty Nov 5200 Put adds 2.7 lakh shares in Open Int
-Nifty Nov 5100 Call sheds 10.3 lakh shares in Open Int
-Stock Futures add 2.1 crore shares in Open Int  | 
