A1FS Views

  Market in a nutshell

• Markets opened in the red on the back of global cues, but buying at lower levels led the indices to march upwards. Afternoon trades saw the indices advance into positive territory and thereafter sustained buying led the Sensex to close at 14,657 (up 302 points) while Nifty ended the day at 4,414 (up 81 points).
• Nifty August Futures were trading at a premium of 20 points to spot for major part of the session.
• BSE Capital Goods Index surged 4% to 12,132 with Suzlon Energy up 7% to INR 239. BSE Bankex advanced 3% to 6,729, with Bank of Baroda up 8% to INR 276.
• Market breadth was positive with an Advance: Decline Ratio of 1.5:1. JP Associates gained 8% to INR 170, while Reliance Communications fell 13% to INR 436, due to poor results.
• Cash volumes were at INR 224,684 mn (NSE) as against a 5 DMA of INR 193,410 mn. F&O volumes were low at INR 487,780 mn as against a 5 DMA of INR 582,237 mn.

Eye Catchers

• Escorts gained 16% to INR 86 with volumes of 5,440,702 (up 700%).

Market News

• Rupee strengthened to trade at INR 42.33 against the dollar, due to expectations of capital inflow amidst easing crude prices.
• Nymex crude softened to trade at $122.89/bbl. Base metals were trading on a strong note with zinc up 2%.

Indices performance