A1FS Views

 Market in a nutshell

• The end of the 62 hour operation in Mumbai and the reshuffling of key ministers led the domestic bourses to open on a strong note. Higher than expected GDP numbers (7.6% Y-O-Y) supported the early surge in trades.    
• In mid afternoon trades, markets pared all the early trade gains on account of increased selling pressure. Weak opening of European markets and further fall in US index futures led the markets to plunge further in the red. Nifty finally ended the day at 2,683, down 72 points, while Sensex, closed at 8,839, down 253 points.
• BSE Realty Index crashed 5.3% to 1,477 with DLF down 10% to INR 178.50 while BSE Auto Index lost 4.5% to 2,222 with Maruti declining 9.5% to INR 485 on account of 24.4% fall in sales to 52,711 units in Nov 08 over Nov 07.
• Nifty December futures were trading within a range of 5-10 points premium and discount to spot.
• Market breadth was negative with an Advance: Decline Ratio of 1:1.2. GTL Infra plummeted 14% to INR 39.20, while Mphasis gained 8% to INR 164.
• Cash volumes were at INR 113,141 mn (NSE+BSE) as against a 5 DMA of INR 121,275 mn. F&O volumes were at INR 321,554 mn as against a 5 DMA of INR 464,735 mn.

Eye Catchers

• Indian Hotels lost 0.75% to INR 39.85, with volumes of 5,198,414 (up 950%).

 Market News

• Rupee depreciated to trade at INR 50.34 against the dollar.
• Nymex crude rose to trade at $52.12/bbl. Base metals were trading on a weak note.
• Nagarjuna Constructions secured INR 4,840 mn worth orders.

Indices performance