A1FS Views

Market in a nutshell

• Domestic markets opened in the red continuing yesterday’s trend and exhibited weakness throughout the session. Weakening trends in the Asian markets and further rise in the inflation rate dampened the sentiment.Power, software and telecom stocks traded firm for a while, which later succumbed to the prevailing weakness. Banking and cement majors bore the brunt of selling. Sensex closed with a loss of 402 points at16,679 while Nifty closed 109 points lower at 4,972.
• BSE Bankex declined 2.8% to 8,512 as a result of profit booking. Kotak Bank lost 5.8% to INR 737. BSE Realty Index fell 3% to 7,891 with HDIL plunging 8% to INR 726.
• Nifty May Futures were trading at a premium of 10-12 points to spot for major part of the session, which reduced to parity during the last half hour.
• Market breadth was negative with an Advance: Decline Ratio of 0.2:1. Arvind Mills and Essar Oil declined close to 10% each to INR 50 and INR 257 respectively.
• Cash volumes were at INR 138,860 mn (NSE) as against a 5 DMA of INR 143,843 mn. F&O volumes were low at INR 349,510 mn as against a 5 DMA of INR 331,470 mn.

Eye Catchers

• Suzlon lost 3% to INR 271 with volumes of 20,633,128 (up 300%).

Market News

• Rupee recovered a bit to trade at INR 41.62 a dollar.
• Nymex crude surged further to trade at $125/ bbl. Base metals were trading on a soft note, with lead leading the pack of losers down 4%.
• The WPI based inflation climbed to 7.61% for the week ended April 26 as against 7.57% in the previous week with strong food prices.
• Infotech Enterprises bagged a 3 yr GIS/Data Management contract from Powercor Australia and CitiPower Ltd.

Indices Performance

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Market in a nutshell

• Mirroring global markets, domestic markets opened deep in the red and traded at low levels throughout the day. Selling pressure was witnessed across the board with IT and banking heavyweights being the major draggers, while certain telecom frontliners advanced. Sensex closed at 17,081 (down 259 points) while Nifty closed at 5,082 (down 54 points).
• A reversal from the past two sessions’ trend, BSE IT Index declined 3% to 4,295, as a result of profit booking. Satyam was down 4% to INR 471. BSE FMCG Index shed 2.5% to 2,445 with ITC falling 5% to INR 215.
• Nifty May Futures were trading at a premium of 10-12 points to spot for major part of the session.
• Market breadth was negative with an Advance: Decline Ratio of 1:2. Kotak Bank declined 6% to INR 783, while Aban Offshore was up 5% to INR 3,810.
• Cash volumes were at INR 127,124 mn (NSE) as against a 5 DMA of INR 151,315 mn. F&O volumes were low at INR 289,438 mn as against a 5 DMA of INR 357,221 mn.

Eye Catchers

• Sterlite Technologies gained 6% to INR 239 with volumes of 2,788,785 (up 500%).

Heard on the Street

• Everonn Systems India plans to raise INR 1 bn through private placement.

Market News

• Rupee fell sharply to trade at INR 41.73 against the dollar, due to continued dollar demand from oil refiners.
• Nymex crude surged further to trade at $123.58/ bbl. Base metals were trading on a soft note, with lead leading the pack of losers down 5%.
• MindTree has acquired over 14% stake in Aztecsoft through market purchase transaction route for INR 527.5 mn, ahead of its open offer for acquiring 20% stake.

Indices Performance

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Market in a nutshell

• Markets opened on a low note and witnessed a weak session fuelled by rocketing crude prices and inflation worries. Afternoon trades witnessed a further plunge in the broader indices before a strong recovery in the final hours. Sensex closed at 17,339 (down 34 points) while Nifty closed at 5,136 (down 9 points). IT stocks advanced due to the falling rupee.
• BSE Capital Goods Index was the major loser down 2% to 13,642 with Bharat Electronics shedding 6% to INR 1,230. BSE Realty Index declined 1.5% to 8,208 with DLF down 2.5% to INR 651.
• Nifty May Futures were trading at a premium of 5-7 points to spot for major part of the session, which increased to 12-15 points during the last half hour.
• Market breadth was negative with an Advance: Decline Ratio of 0.7:1. Sesa Goa declined 5% to INR 3,993, while Hindustan Oil Exploration gained 9% to INR 153.
• Cash volumes were at INR 210,792 mn (NSE+BSE) as against a 5 DMA of INR 222,967 mn. F&O volumes were at INR 335,639 mn as against a 5 DMA of INR 341,012 mn.

Eye Catchers

• Mahindra Lifespace Developers surged 13% to INR 642 with volumes of 3,590,914 (up 300%).
• Bharat Electronics fell 6% to INR 1,230 with volumes of 498,852 (up 250%).

Heard on the Street

• Singapore’s telecom giant, SingTel, which holds over 30% stake in Bharti Airtel, may join Bharti as a co-buyer in the bid to acquire South Africa’s MTN.

Market News

• Rupee slipped further to trade at INR 41.37 against the greenback, due to soaring dollar demand from oil refiners.
• Nymex crude advanced further to trade at $121.98/ bbl, due to continuing supply problems in Nigeria. Base metals were trading on a mixed note, with zinc up 3% and lead down 1%.
• Tata Steel along with Brazilian mining giant Vale and other joint venture partners will undertake a massive expansion of the Carborough Downs Coal Mine in Australia for about INR 15.56 bn.

Indices Performance

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Market in a nutshell

• Following global cues, local bourses opened in the red and traded within a narrow range till afternoon. Late afternoon trades witnessed a sudden spurt in selling activity causing the broader indices to plunge further. The last half an hour saw some respite, with news of the rupee falling to its 8 month low. Sensex finally closed at 17,373 (down 118 points) while Nifty closed at 5,145 (down 48 points). Certain FMCG and IT stocks advanced.
• BSE Realty Index was the worst hit falling 4.5% to 8,337 with Unitech being the major loser down 7% to INR 307. BSE Power Index declined 2% to 3,316 with Reliance Energy down 5% to INR 1,442.
• Nifty May Futures were trading at a premium of 20 points to spot for major part of the session.
• Market breadth was negative with an Advance: Decline Ratio of 2:5. Reliance Capital shed 7% to INR 1,430, while Housing Development Infrastructure Ltd. fell 6% to INR 781.
• Cash volumes were at INR 213,887 mn (NSE+BSE) as against a 5 DMA of INR 217,914 mn. F&O volumes were at INR 328,566 mn as against a 5 DMA of INR 341,012 mn.

Eye Catchers

• Polaris gained 6% to INR 110 with volumes of 5,123,519 (up 260%).
• Strides Arcolab was up 4% to INR 205 with volumes of 1,701,370 (up 700%).

Market News

• Rupee weakened to trade at INR 40.96 against the greenback, due to high crude oil prices.
• Nymex crude soared to trade at $120.2/ bbl. Base metals were trading on a strong note, with copper leading the pack of gainers up 2%.

Indices Performance

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Market in a nutshell

• Markets experienced an extremely choppy session, swaying into the negative and positive zone without conviction. The opening was firm, followed by a dip into the red. Afternoon trades saw some buying activity, but the momentum could not be sustained and the final hour led the broader indices to plummet further. Sensex finally closed at 17,491 (down 109 points) while Nifty ended the day at 5,192 (down 36 points).
• BSE Consumer Durable Index was the major loser down 2% to 4,467 with Titan falling 5% to INR 1,170. BSE Auto Index retracted 1% to 4,812 with Hero Honda down 3.5% to INR 818.
• Nifty May Futures were trading at a premium of 5-7 points to spot for major part of the session.
• Market breadth was marginally positive with an Advance: Decline Ratio of 1.1:1. Allahabad Bank advanced 7% to INR 93.
• Cash volumes were at INR 211,918 mn (NSE+BSE) as against a 5 DMA of INR 214,768 mn. F&O volumes were at INR 329,729 mn as against a 5 DMA of INR 342,730 mn.

Eye Catchers

• Patel Engineering was up 4% to INR 596 with volumes of 580,990 (up 1060%).
• Power Finance rocketed 12.5% to INR 186 with volumes of 14,070,348 (up 600%).

Market News

• Rupee appreciated to trade at INR 40.63 against the greenback.
• Nymex crude rose to trade at $116.54/ bbl. Base metals were trading on a strong note, with copper leading the pack of gainers up 2%.
• IVRCL Infrastructures and Projects Ltd secured orders worth INR 4.69 bn from the irrigation and CAD department of government of Andhra Pradesh for modernization of Godavari Delta Canal System.
• L&T bagged orders worth INR 3.44 bn from Power Grid Corporation of India for construction related works.

Indices Performance