A1FS Views

Market in a nutshell

• Bourses were trading on a flat note during the morning session, but rallied with conviction, post RBI’s credit policy announcement at noon. Buying was witnessed across the board which propelled the indices upwards. Sensex finally closed at 17,378 (up 362 points) while Nifty closed at 5,196 (up 106 points). Certain telecom heavyweights experienced selling pressure.
• BSE IT Index surged 5% to 4,238 with Satyam rallying 8% to INR 479. BSE Metal Index gained 4% to 16,193 with Sesa Goa soaring 13% to INR 4,173.
• Nifty May Futures were trading at a premium of 5 points to spot at the beginning of the session, which increased to 20 points after the announcement of RBI’s credit policy.
• The apex monetary authority hiked the CRR by 25 bps to 8.25% to tackle the inflationary concerns.
• Market breadth was positive with an Advance: Decline Ratio of 1.5:1. Bombay Dyeing and Network 18 advanced 13% to INR 988 and INR 283 respectively.
• Cash volumes were at INR 180,874 mn (NSE) as against a 5 DMA of INR 144,840 mn. F&O volumes were at INR 418,195 mn as against a 5 DMA of INR 428,002 mn.

Eye Catchers

• Strides Arcolab was up 10% to INR 197 with volumes of 511,576 (up 900%).

Market News

• Rupee weakened to trade at INR 40.36 against the dollar, due to dollar demand from oil importers.
• Nymex crude softened to trade at $117.9 / bbl. Base metals were trading on a mixed note.

Indices Performance

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Market in a nutshell

• Markets opened positive but lost strength and declined slowly as the session progressed. Sensex closed at 17,016 (down 110 points) while Nifty closed at 5,090 (down 22 points).
• BSE Consumer Durable Index gained 2% to 4,461 with Titan up 6% to INR 1,191. BSE Capital Goods Index shed 1% to 13,755 with Siemens plunging 10% to INR 581.
• Nifty May Futures were trading at a premium of 5 points to spot for major part of the day, which increased to 10 points during the last half hour.
• Market breadth was almost neutral with an Advance: Decline Ratio of 0.95:1. Bata surged 11% to INR 185, while LIC Housing Finance advanced 12% to INR 359.
• Cash volumes were at INR 128,021 mn (NSE) as against a 5 DMA of INR 145,688 mn. F&O volumes were low at INR 254,592 mn as against a 5 DMA of INR 458,354 mn.

Eye Catchers

• Siemens fell 10% to INR 581 with volumes of 14,094,357 (up 1240%).

Market News

• Rupee remained stable at INR 40.18 against the greenback.
• Nymex crude rose to trade at $119 / bbl. Base metals were trading on a mixed note with zinc up 4%.
• Reliance Energy posted a profit after tax of INR 10.85 bn for the year ended March 2008 as compared to INR 8.02 bn during the year ended March 2007.

Indices Performance

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Market in a nutshell

• Local bourses witnessed a robust session. A strong opening was sustained, with a further buying spurt during afternoon trades which caused the indices to advance significantly. Sensex finally closed at 17,126 (up 405 points) while Nifty closed at 5,112 (up 112 points). The rally was mainly supported by telecom, banking and metal front-liners.
• BSE Bankex surged 3% to 8,868 with ICICI Bank being the major puller up 4.5% to INR 916. BSE Metal Index advanced 2.5% to 15,735 with Jindal Steel up 4.5% to INR 2,326.
• Nifty May Futures were trading at a premium of 10 points to spot for major part of the day, which increased to 15 points during the last half hour.
• Market breadth was marginally negative with an Advance: Decline Ratio of 4:5. Reliance Communications rose 8.5% to INR 577.
• Cash volumes were at INR 141,578 mn (NSE) as against a 5 DMA of INR 147,650 mn. F&O volumes were low at INR 338,319 mn as against a 5 DMA of INR 475,612 mn.

Eye Catchers

• Bharti Airtel rallied 9.5% to INR 922 with volumes of 2,386,945 (up 200%).

Market News

• Rupee remained stable at INR 40.19 against the greenback.
• Nymex crude was steady at $117.03/ bbl. Base metals were trading on a mixed note with lead down 2%.
• Inflation rate grew by 7.33% in the week ended April 12 from 7.14% in the previous week, on higher prices of food items, including jaggery and fish.
• Bharti Airtel posted a net profit of INR 17.92 bn for the fourth quarter ended March 31, 2008, an increase of 39% as against INR 12.87 bn during the same quarter in 2007.
• Ambuja Cements posted a 42% drop in its first quarter net profit ending March 31, 2008, at INR 3.26 bn as compared with INR 5.66 bn in 2007 Q1.

Indices Performance

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Market in a nutshell

• Markets opened on a firm footing, but fizzled as the session progressed. Afternoon trades showed some sparks of recovery, but could not sustain and the broader indices continued paring the day’s gains. Sensex finally closed at 16,721 (up 23 points) while Nifty closed at 5,000 (down 23 points).
• BSE IT Index gained 1.5% to 4,050 with Infosys up 3% to INR 1,693. BSE FMCG Index advanced 1% to 2,390 with Hindustan Unilever up 3% to INR 249.
• Nifty May Futures were trading at a premium of 10 points to spot for major part of the day, which reduced to 5 points during the last half hour.
• Market breadth was negative with an Advance: Decline Ratio of 3:5. Mc Dowells rose 10% to INR 1,754, while KPI