A1FS Views

Market in a nutshell

• Jolted by the massive global sell off, local bourses nose-dived on opening and continued to lose ground rapidly till late morning. Afternoon trades provided some reprieve, with the broader indices recovering marginally. Sensex finally closed at 15,066 (down 506 points) while Nifty ended the day at 4,501 (down 127 points). Selling pressure was witnessed across all sectors.
• BSE Midcap and Smallcap Indices also suffered substantially in today’s trades. BSE Midcap Index was down 3% to 6,170, while BSE Smallcap Index lost over 3.5% to 7,417.
• BSE Realty Index tanked 7.5% to 5,752, with Unitech plunging 9% to INR 185. BSE Capital Goods Index declined 3% to 11,636, with Suzlon Energy down 6.5% to INR 262.
• Nifty June Futures were trading at a discount of 10 points to spot for the first half of the session, which increased to as much as 40 points as the session progressed.
• Market breadth was disappointing with an Advance: Decline Ratio of 1:6. Hindustan Petroleum tumbled 9% to INR 193, while National Aluminum advanced 5% to INR 516.
• Cash volumes were at INR 183,539 mn (NSE+BSE) as against a 5 DMA of INR 191,133 mn. F&O volumes were high at INR 583,335 mn as against a 5 DMA of INR 435,982 mn.

Eye Catchers

• Lupin rallied 8% to INR 701 with volumes of 564,275 (up 470%).
• Amtek Auto declined 8% to INR 250 with volumes of 573,606 (up 430%).

Market News

• Rupee depreciated to trade at INR 42.9.
• Nymex crude rocketed to trade at $137.25/ bbl. Base metals were trading strong, with copper leading the pack of gainers up 2.5%.
• Bharat Heavy Electricals won a contract worth INR 36 bn to set up a combined cycle power plant in New Delhi.

Indices performance