A1FS Views

Market in a nutshell

• Markets opened on a nervous note, trading close to yesterday’s close till noon. However afternoon trades witnessed selling pressure which intensified in the last half hour dragging the broader indices down. Sensex finally closed at 16,316 (down 209 points) while Nifty ended the day at 4,835 (down 83 points).
• Yes, it was the expiry effect that brought the Nifty Index to the 4835 levels. Aggressive selling was witnessed in the last 30 min of the trading hour. Heavy weights like Reliance, ONGC and SBI got hammered in the VWAP that resulted in the Nifty index to touch the low of 4800 during the last 30 mins.
• BSE Auto Index and Bankex both declined around 3% to 4,410 and 7719 respectively. Tata Motors plunged 8% to INR 583, while ICICI Bank was down 3% to INR 797.
• Nifty June Futures were trading at a discount of 10 points to spot for the first half of the session, which increased to 15 points during the last hour.
• Market breadth was marginally negative with an Advance: Decline Ratio of 3:5. M&M declined 5.5% to INR 606, while Purvankara was down 4% to INR 225.
• Cash volumes were at INR 244,038 mn (NSE+BSE) as against a 5 DMA of INR 178,202 mn. F&O volumes were high due to expiry at INR 647,590 mn as against a 5 DMA of INR 473,600 mn.

Eye Catchers

• Larsen and Toubro surged 6.5% to INR 2,882 with volumes of 9,537,163 (up 460%).
• IFCI advanced 6.5% to INR 62 with volumes of 272,473,307 (up 250%),

Market News

• Rupee was trading at INR 42.88 against the dollar.
• Nymex crude rose to trade at $130.31/ bbl. Base metals were trading on a soft note, with zinc leading the pack of losers down 1.5%.

Indices Performance

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