A1FS Views

Market in a nutshell

• Contrary to the expectations of market reacting to the CRR effect, the indices opened with a positive gap with global markets trading in green. Telecom and banking sectors were the major movers in the indices. IT Index remained the underperformer with some profit booking. The Sensex finally closing at 16,739 (up 258 points) while Nifty closed at 5,037 (up 79 points).
• BSE Bankex gained 3.5% to 8,581 with Axis Bank being the major gainer up 7% to INR 881 owing to strong results reported by the bank. Metal Index gained 3.8% to 15,215 with Jindal Steel and Jindal Stainless gaining close to 5% each at INR 2122 and INR 152 respectively. Nifty April Futures were trading at a premium of 5-6 points to spot for major part of the session. Nifty long rollers got aggressive with the roll cost further expanding to 10-11 points to the long roller.
• Market breadth remained strong with an Advance: Decline Ratio of 3.7:1. Praj Industries gained 15% to INR 175, while Renuka surged 10.5% to INR 125.
• Cash volumes were at INR 190,591 mn (NSE+BSE) as against a 5 DMA of INR 191,446 mn. F&O volumes were at INR 406,350 mn as against a 5 DMA of INR 375,830 mn.

Eye Catchers

• SCI was up 10% to INR 242 with volumes of 6,571,206 (up 110%).
• Strides Arcolab was up 2.7% to INR 199 with volumes of 404,534 (up 780%).

Market News

• Rupee remained strong at 39.88 a dollar with strong equity markets.
• Nymex crude remained strong for another trading session trading $ 117/ bbl. Base metals were trading on a slightly weaker note with zinc trading 1.5% down.

Indices Performance