| The markets showed sharp recovery in the late trade amid volatility. The Nifty recovered over 100 points from its day's low and closed above the 5,000 mark.Buying in FMCG, banking, metal and banking stocks supported the markets while telecom, technology, cement, realty and oil marketing companies' shares remained under pressure throughout the session. The market opened on a positive note but within few minutes after opening it slipped in the red despite positive global cues. Recovery was seen in the last one hour of trade. Asian markets ended higher; Straits Times, Jakarta, Hang Seng and Taiwan Weighted gained 1-2%. Nikkei was up 0.18% while Kospi fell 0.5%. European markets went up over 1.5% and the US index futures gained 0.7% each, at the time of writing this report.
Telecom stocks remained under pressure for the second consecutive day. Brokerages downgraded stocks and raised concerns over their earnings post TRAI (Telecom Regulatory Authority of India) statment, which said per-second tariff could be made compulsory. Bharti Airtel and Reliance Communications plunged over 10% while Idea Cellular fell over 8%. Their volumes compared to 5-day average increased 370%, 471% and 623%, respectively. MTNL and Tata Teleservices slipped 4-5%. Volumes were very high in today's trade; total traded turnover was at Rs 1,16,249.05 crore as against Rs 79,766.65 crore on Monday. This included Rs 21,128.25 crore from the NSE cash segment, Rs 88,732.6 crore from the NSE F&O and the balance Rs 6,388.2 crore from the BSE cash segment. Continued on the next page... _PAGEBREAK_ In the FMCG space, HUL and Godrej Consumer shot up over 5%. ITC, Nestle, Colgate and Marico gained 2-3.5%. Banking stocks like Axis Bank, ICICI Bank, Bank of Baroda, Kotak Mahindra, HDFC Bank and SBI were up 1.3-3%. In the metal space, Hindalco surged 6.05%. JSW Steel, Sterlite Industries, Sesa Goa, Tata Steel, SAIL and NALCO went up 1.7-4%. In the capital goods segment, BHEL was up 3.33%. Punj Lloyd and L&T gained 1.5-1.8%. In the power pack, Reliance Infrastructure shot up 5.17%. GMR Infra, Tata Power and Power Grid Corp went up 0.4-1.4%. In the realty space, Unitech and DLF fell 1.4-1.5%. In the technology pack, HCL Tech fell 5.39%. Wipro was down 1.6%. TCS, Tech Mahindra and Infosys fell over 0.3%. Auto stocks like Bharat Forge, Bajaj Auto and M&M gained 1.4-3.5%. However, Ashok Leyland lost 1.35%. Tata Motors and Hero Honda declined 0.2-0.5%. In the healthcare space, Lupin, Aurobindo Pharma, Piramal Healthcare, Apollo Hospital, Dr Reddys Labs, Ranbaxy Labs and Wockhardt were up 1.5-3.5%. Cipla was up 0.43% while Sun Pharma lost 1.52%. In the oil & gas sector, Cairn India and ONGC were up over 1%. However, BPCL, HPCL and IOC slipped 0.6-1.8%. Reliance Industries was down marginally. Among the broader indices, the BSE Midcap was up just 0.2% while the Smallcap Index down 0.7%. In the midcap space, Jet Airways was up 10.35%. IRB Infra, Rolta, Voltas and Godrej Consumer gained 5-6%. However, Jubilant, HOEC, Madras Cements, Chennai Petroleum and Asian Star fell 4-5%. In the smallcap space, Suashish Diamon, Dolphin Offshore, Energy Dev, Gammon India and 3i Infotech went up 7.5-11.5% while Binani Industries, Prism Cement, Indian Metals, ABG Infralogistics and Geekay Finance declined 5-7%. The market breadth also improved though it was negative. About 1,102 shares advanced while 1,761 shares declined on the BSE. Nearly 348 shares remained unchanged. Continued on the next page... _PAGEBREAK_ Nifty back above 5K; FMCG, metals, banks, cap goods lead At 14:51 hours IST, the Sensex showed smart recovery led by buying in FMCG, metal, banking and capital goods stocks. The Nifty was trading above the 5,000 mark. The markets were witnessing some volatility, as selling continued in telecom, realty and select cement stocks. European markets also moved up further and gained 1.5% each. The US index futures were trading 0.5% higher. The Nifty was up 28 points at 5,031 and the Sensex was up 114 points at 16,981. The Nifty October future was trading with 13 points premium. However, the broader indices were down 0.2-0.8%. The market breadth reduced gap to some extent; about 974 shares advanced while 1,885 shares declined. Nearly 352 shares were unchanged. In the FMCG space, Godrej Consumer shot up 8% and HUL up 5.27%. ITC, Marico, Colgate and Nestle were up 2-3%. Banking stocks Axis Bank, ICICI Bank, Bank of Baroda, HDFC Bank and SBI gained 1-3%. In the metal space, Hindalco went up 5.80%. Sterlite Industries, JSW Steel, SAIL, Tata Steel, NALCO and Jindal Steel were up 0.8-3%. Capital goods stocks like BHEL, Punj Lloyd, L&T and ABB gained 0.5-2%. However, Bharti Airtel, Reliance Communication and Idea Cellular lost 9-10%. MTNL and Tata Teleservices fell 4-5%. In the realty space, DLF and Unitech were down over 1%. In the midcap space, Jet Airways, Voltas, Rolta, Lupin and Deccan Chronicle were up 4-5% while IBN18 Broadcast, Tata Teleservices, Jubilant, Asian Star and Jindal Saw fell 4-6%. In the smallcap space, Suashish Diamon surged 15.83%. Dolphin Offshore, Adhunik Metalik, Atul and Numeric Power were up 6-10% while Binani Industries, Indian Metals, Prism Cement, Panyam Cements and Ruby Mills slipped 5-8%. Sensex down over 100 pts; telecom, realty dip, FMCG surges At 13:21 hours IST - the Nifty was trading lower though it showed some recovery in the last half an hour of trade. This downtrend was despite of the positive global cues. European markets were up 0.3-0.5% and Asian markets also gained. The sell-off continued in telecom, technology, realty, cement, power, capital goods and oil marketing companies' shares. However, buying in FMCG, metal and select pharma stocks limited the losses to some extent. Reliance Industries, SBI, ONGC and HDFC Bank were helping the indices in recovery. The Nifty turned back above 4950 and was down 43 points, to 4,960. The Sensex fell 119 points, to 16,747. The broader indices continued to underperform the benchmark indices, down 1.5-2%. About 224 shares advanced while 1040 shares declined on the NSE. Total traded turnover stood at Rs 70,000 crore, which included F&O turnover of Rs 54,000 crore. Telecom stocks were biggest losers for second day in a row. Volumes also increased in the stock. Brokerages raised the concerns over earnings of telecom companies and downgraded the sector. TRAI (Telecom Regulatory Authority of India) statment also impacted stocks today, which said per-second tariff could be compulsory. Bharti Airtel, Reliance Communication and Idea Cellular were down 10-11%. Tata Teleservices and MTNL declined 4-5%. Tata Communication fell 1%. Realty stocks like Parsvnath, Orbit Corporation, Unitech, DLF and Omaxe lost 3-5.5%. In the technology space, HCL Tech was down 5.87%. Patni Computer, Wipro, Tech Mahindra and Infosys slipped 0.5-1%. Oil & gas stocks like BPCL, IOC, GAIL and HPCL lost 0.6-2%. Reliance Industries was down 0.36%. However, HUL and ITC went up 3-3.5%. Marico and Colgate were up 1-2% in the FMCG space. Metal stocks like Hindalco, Sterlite Industries and JSW Steel were up 1-3%. SAIL, Jindal Steel and Tata Steel gained 0.2-0.9%. Top percentage gainers - Hardcastle was up 20%. Novopan, Suashish Diamon, Singer India and FCS Software gained 11.5-18.5%. DCM, Dolphin Offshore and Thiru Arooran went up 7.5-9.5%. Nifty slips below 4950; broader indices underperform At 12:18 hours IST, the Sensex extended losses on the back of further sell-off in telecom stocks. Bharti Airtel, Idea Cellular and Reliance Communication slipped over 11% each as the brokerages downgraded the telecom sector post TRAI (Telecom Regulatory Authority of India) statement, which said per-second tariff could be made compulsory. This will impact their earnings. Selling was also seen in technology, realty, oil marketing, power, auto, banking and select capital goods companies' shares. However, buying in FMCG, metal and select pharma stocks capped the losses to some extent. The Nifty was trading below 4950 and was down 75 points at 4,928. The Sensex fell 221 points to 16,645. The broader indices declined 1.5-2%, as about 667 shares advanced while 2,162 shares declined on the BSE. Nearly 382 shares were unchanged. All sectoral indices were in the red barring FMCG and Metal. The BSE TECk Index (which includes telecom, technology and media) fell 4.4% and Realty down nearly 4%. Capital Goods, Power, IT, Auto, Bank and Oil & Gas indices declined 1-1.6%. However, FMCG Index rose 1%. In the midcap space, Lupin, Jet Airways, Blue Dart, Voltas and Marico were up 2.5-5% while Tata Teleservices, Jubilant, GTL Infra, Parsvnath and Jindal Saw fell 5.5-6%. In the smallcap space, Suashish Diamon surged 15.85%. Dolphin Offshore, Numeric Power, Orissa Sponge and Kwality Dairy went up 3-7.5%. However, Prism Cement, Indian Metals, Micro Inks, ISMT and ABG Infralogistics fell 6-10%. In the largecaps, HCL Tech, Unitech, Ambuja Cements, Tata Motors and DLF were down 4-7%. Suzlon Energy, Reliance Capital, ACC, ABB, GAIL and BPCL lost 2-3%. PNB, Wipro, ICICI Bank, TCS, Reliance Infrastructure, Sun Pharma, Hero Honda, L&T, Infosys and HDFC slipped 1-1.8%. Nifty drifts lower; Bharti, RComm, Idea plunge 9-10% At 11:11 hours IST, the Nifty slipped further and touched a day's low of 4948.60. Continuous sell-off in telecom, realty, capital goods, power, oil marketing companies' shares and Reliance Industries was putting pressure on the markets for the second consecutive day. The markets shrugged off positive global cues. However, buying was seen in FMCG and metal stocks. Telecom stocks were the major losers today as well. Bharti Airtel, Reliance Communication and Idea Cellular lost 10-11% post the TRAI (Telecom Regulatory Authority of India) comments, which said per-second tariff may be made compulsory. This will impact their earnings and lot of brokerages downgraded these stocks. The Sensex fell 101 points at 16,765 and the Nifty was down 37 points at 4,966. The broader indices lost over 1.2%, as market breadth was 1:4 on the NSE. In the realty space, Orbit Corporation tanked 5%. Unitech was down 3.78% and DLF down 2.19%. Power stocks like Torrent Power, Suzlon Energy, NHPC, GVK Power, GMR Infra, Neyveli Lignite, Lanco Infratech, Reliance Power and Power Grid Corp fell 1-3.5%. However, FMCG stocks like ITC and HUL gained 1.5-2%. In the metal space, Sterlite Industries, Hindalco, SAIL, JSW Steel, NALCO and Tata Steel were up 0.5-1%. Corporate news L&T bagged order worth Rs 1,513 crore. Reliance MF bought 7% stake via QIP in 3i Infotech. Sensex slips in red: telecom, realty drag, metals, IT up The Sensex bounced back on the back of positive global cues in the opening trade but sell-off for the second consecutive day in telecom stocks erased the early gains. Metal stocks were up as base metals rallied on Monday. Technology stocks were also supportive while telecom, capital goods, power, oil & gas and realty stocks were hammered. At 10:15 am, the Nifty went down 34 points to 4,967 and the Sensex was up 93 points at 16,772. Telecom stocks were hammered as TRAI is contemplating making per second billing mandatory, which will impact their earnings. Bharti Airtel, Reliance Communication and Idea Cellular were down 7%, 6.5% and 12%, respectively. Midcap space: JSL was up over 5%. 3i Infotech, Polaris, Mahindra Satyam and NIIT gained over 1%. UCO Bank rose 1.5% while Tata Teleservices fell 2%. Global cues: Asian markets were trading higher. Straits Times, Taiwan Weighted and Jakarta gained over 1.3%. Hang Seng rose 0.6% while Nikkei and Kospi fell marginally. The US markets posted gain for the first time in the last 5 sessions after better-than-expected ISM services report and banks upgrade by Goldman Sachs. The Dow Jones Industrial Average gained 112 points or 1.2% at 9,600. The S&P 500 Index was up 15.2 points or 1.5% at 1,040 and the Nasdaq Composite gained 1% at 2,068. Financial sector gained 3.3% post Goldman Sachs upgrade. Commodities: The CRB Commodity Index gained 1.3%. Gold gained 1.3% at $1017.8/ounce. Crude Oil ended up 0.7% at $704/bbl. It hit a low of $68.05/bbl during the day. Market cues: -FIIs net buy USD 314 million in equities on September 30 -NSE F&O Open Int up Rs 1440 crore at Rs 88,522 crore -FIIs net sell Rs 310 crore in cash markets on October 5 (prov) -DIIs net sell Rs 568 crore in cash markets on October 5 (prov) -FIIs net sell Rs 703 crore in F&O on October 5 F&O cues: -Futures Open Int down by Rs 1138 crore -Options Open Int up by Rs 2577 crore -Nifty Futures down 1.6%, Futures Open Int down 2%, -Nifty Futures trading at 5 point premium -Nifty Open Int PCR at 1.35 versus 1.38 -Nifty IVs at 26-29% -Nifty Puts add 17.4 lakh shares in Open Int -Nifty Calls add 23 lakh shares in Open Int -Nifty 4700 Put adds 9.2 lakh shares in Open Int -Nifty 5100 Call adds 9 lakh shares in Open Int -Nifty 5300 Call adds 5.7 lakh shares in Open Int -Nifty 5200 Call adds 4.8 lakh shares in Open Int -Nifty 5200 Call adds 4.8 lakh shares in Open Int -Stock Futures adds 1.14 cr shares in Open Int | ||||||||||||||||||||||||||||||||||||||||||
Tuesday, October 6, 2009
Sharp recovery in late trade; FMCG, banks up, telecom dips
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