A1FS Views

Market in a nutshell

• Markets opened slightly positive but could not sustain in the green region for long. Selling was witnessed across the board with the heavy weight getting hammered through out the day. Fresh short positions entered as Nifty broke the 5000 levels in futures, which was clearly witnessed by the expanding discount and huge addition of open interest (OI) in the Nifty futures.
• OI of nearly 7.5% increased in Nifty Futures. Nifty May Futures were trading at a discount of 10-15 points to spot towards the end of the day. Nifty finally ended the day at 4,947 (down 79 points) while Sensex closed at 16,650 (down 257 points)
• BSE Realty Index tumbled 2.5% to 7,510, with Peninsula Land down 3.5% to INR 90. BSE Oil and Gas Index declined 2% 10,975 with Cairn falling 4% to INR 306.
• Market breadth was negative with an Advance: Decline Ratio of 1:3. Air Deccan and Hind Zinc were both down around 6% to INR 128 and INR 678 respectively.
• Cash volumes were at INR 181,089mn (NSE+BSE) as against a 5 DMA of INR 203,086 mn. F&O volumes were at INR 413,180 mn as against a 5 DMA of INR 387,842mn.

Eye Catchers

• Nicholas Piramal climbed 3% to INR 358 with volumes of 438,126 (up 360%),

Market News

• Rupee strengthened to trade at INR 42.71 against the greenback.
• Nymex crude eased to trade at $132.29/ bbl. Base metals were trading weak, with lead leading the pack of losers down 6.5%.
• Inflation remained stable at 7.82% for the week ended May 10.
• Infrastructure firm Era Infra Engineering bagged contracts worth INR 835 mn from Sahara India Commercial Corporation for construction related works in Jaipur and Gwalior.

Indices Performance

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