The Nifty snapped a five-day wining streak and closed the session below the 5,000 mark on the back of selling in telecom, technology, FMCG, realty and infrastructure stocks. The markets traded in a narrow range and remained weak for major part of the session but unwinding of positions in largecaps ahead of settlement day (on Thursday) exerted pressure in the late trade.
Global cues were quite mixed. Asian markets ended lower; Shanghai lost 1.89% and Taiwan Weighted down 1.24%. Hang Seng and Kospi fell over 0.4% each. Straits Times was flat. European markets & the US index futures came off their highs and were marginally in the green.
Anil Dhirubhai Ambani Group companies like Reliance Communications, Reliance Power, RNRL, Reliance Infrastructure and Reliance Capital also declined 2-3%.
The 30-share BSE Sensex slipped 166.93 points or 0.99%, to settle at 16,719.50, after seeing an intraday high of 16,905.58 and low of 16,683.78. The 50-share NSE Nifty shut shop at 4969.95, down 1% or 50.25 points, after witnessing a range of 4957.05-5030.75. The broader indices underperformed the benchmark indices, down over 1.2%.
The Nifty Futures rollovers were struggling at less than 50%. The Nifty Open Interest put-call ratio slid to 1.67 after hitting 1.81 in early trade. Big build-up was seen at October 5300 Call and October 4900 Put. However, huge unwinding was seen at September 5000 Put and nearly 19 lakh shares unwound.
Deven Choksey of KR Choksey Securities said one should remain a little cautious particularly because of the derivative segment and the put-call ratio (PCR). "Whenever PCR has inched closer to level two in past, I think the market has fallen. So from that perspective if one is cautious, it is justified."
"Valuation is definitely a concern. As of now we believe that 5,150 would be the level at which Nifty would struggle and maybe it would take support at around 4,890-4,850 levels in the fall," he added.
However, Gautam Shah, Technical Analyst, JM Financial Services said, the markets may see 5-7% correction in the near-term as the technical indicators were showing that the markets were overbought. He said he would avoid stocks that ran up 20-50% in the last few weeks. He advised to book part profits now. However, he quickly added that the markets would see 20-25% upside after the short-term pullback.
Volumes increased further ahead of F&O expiry tomorrow; total traded turnover stood at Rs 1,15,434.15 crore as against Rs 1,04,763.95 crore on Tuesday. This included Rs 17,532.93 crore from the NSE cash segment, Rs 91,178.35 crore from the NSE F&O and the balance Rs 6,722.87 crore from the BSE cash segment.
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All sectoral indices ended in the red barring Oil & Gas. In the telecom space, Bharti Airtel lost 3.4%. Idea Cellular, MTNL, Reliance Communication and Tata Teleservices fell 1.6-3%.
Index
Closing Value
Chg (%)
REALTY 4,414.64 -2.31
TECk 3,237.04 -1.98
IT 4,562.98 -1.72
CAP GOODS 13,500.92 -1.55
SMALLCAP 7,349.03 -1.37
FMCG 2,543.75 -1.29
MIDCAP 6,140.83 -1.23
POWER 3,032.29 -1.12
AUTO 6,597.46 -1.07
METAL 14,434.98 -0.64
PHARMA 4,054.81 -0.17
BANKEX 9,403.90 -0.11
OIL&GAS 10,139.86 0.16
Technology stocks like Tech Mahindra, HCL Tech, TCS, Wipro and Infosys Technologies slipped 1-2.5%. In the realty space, DLF, HDIL, Indiabulls Real, Omaxe, Sobha Developers and Unitech lost 1-5.7%.
Capital goods stocks like L&T and Punj Lloyd fell 2-2.5%. ABB, BHEL and Siemens declined 0.5-1.5%. In the power pack,
GMR Infrastructure, GVK Power, Lanco Infratech, Neyveli Lignite, Reliance Infrastructure, Reliance Power and Torrent Power lost 1.5-4%. Tata Power was down 0.8% and NTPC down 0.4%. Suzlon Energy tanked 6.10%, as it raised Rs 689 crore via selling 7 crore shares at Rs 98.40/share in block deals. Jaiprakash Associates was down nearly 9%, as the company sold 4 crore treasury shares at Rs 238.5/share and raised Rs 954 crore. However, Power Grid Corporation gained 2%, as it received $ 1 billion loan from the World Bank.
In the FMCG space, Colgate, Godrej Consumer, HUL and ITC fell 1.5-2.5% while Dabur India up 1.5%.
Auto stocks like Apollo Tyre, Bajaj Auto, Bharat Forge, Hero Honda, Maruti and Tata Motors declined 0.4-1.4%. M&M went down 2.6%. However, Ashok Leyland gained 2.89%.
In the metal space, Hindalco, Jindal Steel, NALCO, Sesa Goa and SAIL were down 0.7-12.4% while Sterlite was up 1%.
Pharma stocks like Apollo Hospital, Cipla, Dishman Pharma, Glenmark and Wockhardt fell 1.5-4% while Dr Reddys Labs, Ranbaxy Labs and Sun Pharma gained 0.5-1%.
In the banking space, SBI and ICICI Bank slipped 0.7-1.4% while Axis Bank, Bank of Baroda, HDFC Bank and PNB went up 0.5-1.5%.
In the oil & gas pack, BPCL, Cairn and HPCL were down 0.2-0.7% while Reliance Industries, GAIL, ONGC and IOC went up 0.2-0.7%.
The market breadth was weak; about 1,260 shares advanced while 1,593 shares declined on the BSE. Nearly 353 shares remained unchanged.
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Nifty slips below 5000; telecom, tech, FMCG, pvt power dip
At 14:53 hours IST, the Nifty slipped below the 5,000 mark after trading in a narrow range since morning. Bharti Airtel lost over 3%, Suzlon Energy was down nearly 5% and Jaiprakash Associates was down 8%.
On the sectoral front, technology, auto, realty, private power, FMCG, capital goods, select metal and banking stocks were under selling pressure. However, buying continued in Reliance Industries, HDFC Bank, Sterlite, Power Grid, ONGC, Ranbaxy Labs, PNB, Sun Pharma and Grasim.
The Sensex was down 130 points at 16,756 and the Nifty was down 41 points at 4,978. About 379 shares advanced while 885 shares declined on the NSE. The broader indices fell 0.9% each.
In the largecaps, Reliance Communication, HUL, Reliance Power, Reliance Capital and Unitech lost 3% each. Nalco, HCL Tech, M&M, Reliance Infrastructure, Jindal Steel, L&T, Infosys, TCS and Wipro slipped 1.5-2.5%.
Top percentage gainers - Omkar Overseas, Parenteral Drug and FCS Software shot up 20% each. Steel Strips, Harrisons Malayalam, First Leasing and Sandesh gained 13-18%.
Sensex rangebound; pvt banks, oil exploration, PSU power up
At 14:25 hours IST, the Sensex was moving in a tight range of 16,803.36-16,905.58 ahead of settlement tomorrow. Global cues were mixed; European markets and the US index futures were trading 0.3% higher while Asian markets closed weak.
On the one side, telecom, technology, capital goods, private power and realty companies' shares were under pressure while on the other side, private banking, steel, PSU power and oil & gas exploration companies' shares were witnessing buying interest.
The Nifty was down just 2 points at 5,018 and the Sensex was down 7 points at 16,879. The Nifty September Future was trading with 2 points premium while October future with 16 points premium.
In the largecaps, ONGC, Reliance Industries, Tata Steel, Axis Bank, Cairn India and NTPC were up 0.5-1.5%. Power Grid, HDFC Bank, Sterlite Industries, GAIL, PNB and Ranbaxy Labs gained 2-3%.
However, Bharti Airtel lost 2.8% and Suzlon Energy down 4.4%. Infosys, L&T, HUL, Reliance Communication, TCS, Wipro, Unitech, M&M and HCL Tech fell 0.7-1.5%.
In the midcap space, 3M India, Simplex Infra, IOB, UCO Bank and Bajaj Finserv were up 8.5-13% while Gujarat NRE Coke, Jubilant, Tulip Telecom, Bharat Forge and EIH fell 4-7%.
In the smallcap space, Hinduja Venture, Orbit Corporation, JSW Holdings and Aarti Industries gained 16.5-19% while KGN Industries, PVP Ventures, Ramco Ind, Jindal Worldwid and Austral Coke slipped 9.5% each.
Nifty holds 5000; JP Asso, Bharti, M&M, Infy, L&T down
At 1.14 pm today, the Nifty continued to witness volatility but holding 5000 mark as a strong support. Selling was seen in IT, capital goods, realty, power and auto stocks while bank, metal, and pharma stocks witness some buying interest. Reliance, Infosys, ICICI Bank, HDFC Bank and Power Grid Corp were positive contributors to the Sensex. However, L&T, Bharti Airtel, Reliance Comm and TCS were negative contributors.
The Sensex was down 17.52 points or 0.10% at 16868.91, and the Nifty was up 0.05 points at 5020.25.
About 1493 shares advanced, 1399 shares declined, and 314 shares were unchanged.
Gautam Shah, Technical Analyst, JM Financial Services said, the markets may see 5-7% correction in the near-term as the technical indicators were showing that the markets were overbought. He said he would avoid stocks that ran up 20-50% in the last few weeks. He advised to book part profits now. However, he quickly added that the markets would see 20-25% upside after the short-term pullback. The Sensex trading base was at 16000 levels, he said. His medium-term target for the Sensex was at 18300 and for the Nifty was at 5550.
Top losers on the Sensex were Jaiprakash Associates at Rs 238.05, down 4.78%; Bharti Airtel at Rs 418.65, down 2.21%; M&M at Rs 873.95, down 1.61%; Infosys at Rs 2,375, down 1.27% and L&T Rs 1,650, down 1.09%.
Top gainers on the Sensex were Sterlite Ind at Rs 781.55, up 2.82%; HDFC Bank at Rs 1,583.90, up 2.42%; Tata Steel at Rs 528, up 1.25%; ITC at Rs 235.50, up 0.94% and ICICI Bank at Rs 858, up 0.77%.
Cigarette major ITC was trading at Rs 235.50 up 3.56% from its previous close of Rs 227.40.
Refinery major HPCL was trading at Rs 393.00 up 3.1% from its previous close of Rs 381.20.
Most active shares on NSE were JP Asso at Rs 238.50 with volumes of 46,630,209, Suzlon Energy at Rs 96.95 with volumes of 43,439,800, DLF at Rs 432.40 with volumes of 7,451,151, Reliance at Rs 2,106.60 with volumes of 1,065,495 and SBI at Rs 2,168.90 with volumes of 978,865.
The BSE midcap and smallcap indices were trading flat.
Top gainers on the BSE Midcap - 3M India, UCO Bank, Moser Baer, Bajaj Finserv and IOB were up 9-13%.
Top gainers on the BSE Smallcap - JSW Holdings, Aarti Industries, Orbit Corporation, Cinemax India and Vikas WSP were up 14-18%.
Sensex marginally in red on weak Asian cues
At 12:10 hours IST, the Sensex was trading marginally lower with some choppiness following weak Asian cues. Shanghai was down 1.8% and Taiwan Weighted down 1.2%. Hang Seng and Kospi declined 0.4% each. Straits Times was down just 0.15%.
Continuous selling in telecom, auto, private power, capital goods and technology companies' shares was putting pressure on the markets. However, buying in ONGC, Sterlite, HDFC Bank, ITC, Reliance Industries, NTPC, Ranbaxy, Sun Pharma and Tata Steel restricted the losses.
The Nifty declined 12 points at 5,007 and the Sensex was down 43 points at 16,843. The broader indices were also modestly weak, as about 459 shares advanced while 776 shares declined on the NSE.
In the largecaps, Bharti Airtel fell over 2%. Infosys, L&T, SBI, Wipro, HUL, Suzlon Energy, M&M, Reliance Communication, Tata Power, TCS, HDFC, Reliance Infrastructure, HCL Tech, Unitech, Hero Honda and Maruti were dragging the indices lower.
Top percentage gainers - Omkar Overseas and FCS Software surged 20% each. Parenteral Drug, Singer India, Apar Industries, Steel Strips, Cords Cable and Aarti Drugs were up 13-18%.
Top percentage losers - Suraj Stainless, Savera Hotels, Premier Energy, Bilpower, Shree Pace, Ankur Drugs, Sarla Performan, Rane Holdings and Vardhman Holding fell 6-9%.
Nifty consolidates; telecom, power, IT slip, steel shines
At 11 hours IST, the Nifty was trading marginally lower along with some volatility ahead of the F&O expiry on Thursday. It was hovering around the 5,000 mark. Heavyweight Bharti Airtel was down over 2.5% today as well. Selling was also seen in capital goods, technology, power, auto and telecom stocks.
However, buying in metal and select pharma stocks as well as in stocks like ONGC, DLF, ITC, Axis Bank, PNB and HDFC Bank capped the losses to some extent.
The Nifty was down 13 points at 5,007 and the Sensex was down 49 points, at 16,836. About 419 shares advanced while 776 shares declined on the NSE.
Gautam Shah, Technical Analyst, JM Financial Services said, the markets may see 5-7% correction in the near-term as the technical indicators were showing that the markets were overbought. He advised to book part profits now. However, he quickly added that the markets would see 20-25% upside after the short-term pullback. The Sensex trading base was at 16000 levels, he said. His medium-term target for the Sensex was at 18300 and for the Nifty was at 5550.
In the largecaps, Jaiprakash Associates lost 5.4% and Suzlon Energy down 3.7%. Tata Power, Reliance Infrastructure, M&M and Reliance Capital were down 1-2%.
In the midcap space, 3M India, Moser Baer, Bajaj Finserv, Nirma and Allcargo Global gained 9-12.5% while Jubilant, Gujarat NRE Coke, Bharat Forge, Tulip Telecom and Apollo Tyres fell 4-9%.
In the smallcap space, Aarti Industries, JSW Holdings, NRB Bearings, Ador Welding and Vikas WSP surged 15-17.5% while KGN Industries, PVP Ventures, Ramco Ind, Jindal Worldwid and Religare Techno slipped 7.5-9.5%.
Sensex choppy in early trade; Suzlon, JP Asso decline
The Sensex was flat in the early trade and was seeing some consolidation. The Nifty was trading above the 5000 mark. Jaiprakash Associates was down 4%, as the company sold 4 crore treasury shares at Rs 238.5/share. It raised Rs 954 crore. Suzlon Energy was down 2.54%. The company raised Rs 689 crore via selling 7 crore shares at Rs 98.40/share via block deal in early trade.
At 9:57 am, the Nifty was up just 4.5 points at 5,024 and the Sensex was up 14 points at 16,900. The broader indices were marginally in the green.
Among the frontliners, Bharti Airtel was down 1.3%. Infosys Tech and TCS were the other losers.
However, Sterlite Industries, NTPC, DLF and Cairn India were the gainers.
Midcap space:
Globus Spirits listed today and was trading at Rs 108, up 8% over its issue price of Rs 100 per share.
Jindal Cotex was up 5.5%. It listed yesterday and ended 15% higher.
Orbit Corp and Ajmera Realty were up 1.5-2.5%.
Global cues:
Asian markets were trading weak. Taiwan Weighted was down 1.1% and Kospi down 0.66%. Straits Times and Hang Seng fell 0.2% each. Shanghai was flat.
The US markets gained ahead of FOMC (Federal Open Market Committee) decision today and G-20 summit tomorrow. The Dow Jones Industrial Average was up 51 points at 9,830. The S&P 500 Index was up 7 points at 1,072 and the Nasdaq Composite up 8.3 points at 2,146.
Currencies:
The US dollar retreated back to a one-year low against the Euro on Tuesday.
The Dollar Index declined to 75.939.
Commodities:
The Reuters Commodity Research Bureau (CRB) gained 2% on Tuesday.
Crude oil was up 2.6% at $71.5/bbl.
Spot gold rose toward an 18-month high at $1,020/ounce.
Copper was up 1.5% to $6270/tonne.
Baltic Dry Index declined 3.2% to 2246, at 4-Month lows.
Market cues:
-FIIs net buy USD 388.1 million in equity on September 18
-NSE F&O Open Int up by Rs 2149 crore at Rs 1,14,097 crore
-FIIs net buy Rs 853 crore on September 22
-DIIs net sell Rs 539 crore in cash markets on September 22 (prov)
-FIIs net sell Rs 297 crore in F&O on September 22
F&O cues:
-Futures Open Int up by Rs 1468 crore
-Options Open Int up by Rs 681 crore
-Nifty up 0.9%, Open Int up 3%
-Nifty Futures trade at 24-pt prem versus 10-pt prem
-Nifty IVs at 24-30%
-Nifty Open Int PCR at 1.77 versus 1.73
-Nifty Puts add 14.8 lakh shares in Open Int
-Nifty Calls shed 3 lakh shares in Open Int
-Nifty September 5000 Put adds 9.2 lk shrs in Open Int
-Nifty September 5100 Call adds 8.2 lk shrs in Open Int
-Nifty September 5100 Put adds 5.6 lk shrs in Open Int
-Nifty October 4900 Put adds 6.7 lk shrs in Open Int
-Nifty October 5300 Call adds 5.2 lk shrs in Open Int
-Stock Futures add 1.1 crore shares in Open Int
Rollover Data:
-Market wide Rollover at 39% versus 40-45% average on D-2 of last few expiries
-Nifty Rollover at 36 % versus 46% average on D-2 of last few expiries
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