A1FS Views

 Market in a nutshell 

• Local bourses opened on a cautious note and exhibited range bound movement through the day. It was a volatile session as the indices oscillated on either side of yesterday’s close with Sensex finally closing at 16,087 (down 131 points) while Nifty closed at 4,828 (down 49 points).
• BSE Mid-cap and Small-cap Indices were both up around 2% to 6,271 and 7,439 respectively.
• BSE Consumer Durable Index advanced 1.5% to 3,831, with Titan up 3% to INR 1,058. BSE Metal Index gained 1% to 13,745, with Jindal Stainless up 4% to INR 145.
• As the expiry comes close the rollover activity has picked up. Marketwide rollovers stood at 57% with the average roll cost (cost to long rollers) hovering around 50 bps. Nifty rollover was at 51%. The Nifty April futures are trading at a premium of 10-12 points to the March futures, indicating lack of aggression from the short rollers. Even the Nifty rollovers of 51% are less as compared to the average roll over of 60% on D-1 of expiry.
• Nifty March Futures were trading at a premium of 10 points to spot for major part of the session, which increased to 15 points during the last hour.
• Market breadth was positive with an Advance: Decline Ratio of 2:1. Yes Bank advanced 13% to INR 194, while India Infoline was up 9% to INR 862 respectively.
• Cash volumes were at INR 186,169 mn (NSE+BSE) as against a 5 DMA of INR 194,172 mn. F&O volumes were high at INR 576,288 mn as against a 5 DMA of INR 486,477 mn.

Eye Catchers

• Jindal Stainless was up 4% to INR 145 with volumes of 1,829,351 (up 700%).
• Purvankara surged 22% to INR 224 with volumes of 643,910 (up 300%).

Market News

• Rupee was steady trading at INR 40.14 against the dollar.
• Nymex crude rose to trade at $ 102.55/bbl. Base metals were trading on a strong note, with copper up 3%.

Indices Performance

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