A1FS Views

 Market in a nutshell

• The weakness observed yesterday, persisted today, as the broader indices continued their downward drift. However, buying during the final hour helped pare a considerable amount of the day’s losses leading the Sensex to finally close at 14,543 (down 103 points), while Nifty ended the day at 4,368 (down 25 points).
• Nifty August Futures were trading at a premium of around 15-20 points to spot for major part of the session.
• BSE Consumer Durable and IT Index both lost around 1% to 3,783 and 3,892 respectively. Videocon fell 2% to INR 273, while Satyam declined 3% to INR 406.
• Market breadth was negative with an Advance: Decline Ratio of 3:5. ACC fell 6% to INR 560 while Purvankara was down 4% to INR 190.
• Cash volumes were low at INR 129,073 mn (NSE+BSE) as against a 5 DMA of INR 167,941 mn. F&O volumes were at INR 434,267 mn as against a 5 DMA of INR 446,862 mn.

Eye Catchers

• Strides Arcolab gained 5% to INR 190 with volumes of 265,823 (up 1,400%).

Heard on the Street

• TCS is close to acquiring Citigroup’s captive back office unit in India for about INR 21.5 - 23.5 bn.

Market News

• Rupee was stable trading at INR 43.61 against the dollar.
• Nymex crude fell further to trade at $111.79/bbl. Base metals were trading on a mixed note.

Indices performance

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 Market in a nutshell  

• Markets opened weak but buying at lower levels enabled the indices to climb into the green for a brief period during morning trades. However the bourses could not sustain and started declining during afternoon trades, with increased selling in the final hour. Sensex finally closed at 14,646 (down 78 points) while Nifty ended the day at 4,393 (down 38 points). Selling was witnessed across most sectors; however IT stocks gained due to a falling rupee.
• Nifty August Futures were trading at a premium of around 10-15 points to spot for major part of the session.
• BSE Metal and Oil and Gas Index lost around 2% to 12,364 and 9,996 respectively. Hindalco fell 4.5% to INR 130, while GAIL declined 6% to INR 394.
• Market breadth was negative with an Advance: Decline Ratio of 2:5. Bombay Dyeing was down 6% to INR 532 while Rolta rose 5% to INR 326.
• Cash volumes were low at INR 132,044 mn (NSE+BSE) as against a 5 DMA of INR 177,464 mn. F&O volumes were at INR 396,802 mn as against a 5 DMA of INR 461,742 mn.

Eye Catchers

• Hindalco lost 4.5% to INR 130 with volumes of 7,957,626 (up 200%).

Market News

• Rupee fell sharply to trade at INR 43.6 against the dollar, due to increased dollar demand from oil refiners.
• Nymex crude fell further to trade at $114.1/bbl. Base metals were trading on a mixed note.

Indices performance

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 Market in a nutshell

• Dragged down by weak global cues, markets opened in the red. The indices managed to surface into the positive territory for a brief period during noon but tumbled again with Sensex finally closing at 15,093 (down 119 points) while Nifty ended the day at 4,529 (down 23 points).
• Nifty August Futures were trading at a premium of around 15-20 points to spot for major part of the session.
• BSE Bankex declined 2% to 7,271, with Bank of Baroda down 5% to INR 271. BSE Realty Index fell 1% to 5,611, with Housing Development Infrastructure Ltd. down 4% to INR 467.
• Market breadth was negative with an Advance: Decline Ratio of 3:4. Gujarat Alkali and Tata Chemicals both lost around 6.5% to INR 174 and INR 316 respectively.
• Cash volumes were at INR 171,285 mn (NSE+BSE) as against a 5 DMA of INR 200,538 mn. F&O volumes were at INR 439,471 mn as against a 5 DMA of INR 500,757 mn.

Eye Catchers

• Polaris gained 4% to INR 102 with volumes of 3,613,130 (up 300%).

Market News

• Rupee depreciated to trade at INR 42.67 against the dollar.
• Nymex crude fell to trade at $113.48/bbl. Base metals were trading on a weak note with lead down 10%.

Indices performance

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 Market in a nutshell

• Markets opened flat and then nose dived as the session progressed. The indices remained weak throughout the day and pared all of yesterday’s gains. Sensex closed at 15,212 (down 291 points) while Nifty ended the day at 4,552 (down 68 points).
• Nifty August Futures were trading at a premium of around 10-15 points to spot for major part of the session.
• BSE Metal Index and Bankex both dropped around 3.5% to 12,661 and 7,437 respectively. Tata Steel fell 6% to INR 608, while ICICI Bank was down 4% to INR 738.
• Market breadth was negative with an Advance: Decline Ratio of 1:2. IDBI fell 6% to INR 88, while Air Deccan climbed 7% to INR 94.
• Cash volumes were at INR 198,013 mn (NSE+BSE) as against a 5 DMA of INR 209,474 mn. F&O volumes were at INR 524,612 mn as against a 5 DMA of INR 501,220 mn.

Eye Catchers 

• Aban declined 5% to INR 2,387 with volumes of 381,237 (up 400%).

Market News

• Rupee weakened to trade at INR 42.36 against the dollar.
• Nymex crude fell to trade at $113.6/bbl. Base metals were trading on a weak note with lead down 2.5%.
• India’s industrial growth in June was at 5.4%.
• L&T in consortium with global technology partners secured EPC orders aggregating INR 38.16 bn from various customers in the metals industry.

Indices performance