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

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

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

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 KPIT Cummins fell 6% to INR 99.
• Cash volumes were at INR 155,472 mn (NSE) as against a 5 DMA of INR 146,136 mn. F&O volumes were at INR 509,581 mn as against a 5 DMA of INR 452,990 mn.

Eye Catchers

• Lupin was up 5% to INR 577 with volumes of 636,714 (up 400%).

Market News

• Rupee depreciated to INR 40.18 a dollar, due to dollar demand from oil refiners.
• Nymex crude remained strong at $117.43/ bbl. Base metals were trading on a weak note with copper, leading the pack of losers down 2%.
• ACC announced a net profit of INR 3.57 bn for the first quarter ended March 31, 2008 as compared to INR 3.56 bn during the same quarter last year.
• HDFC Bank posted a net profit of INR 4.71 bn for the quarter ended March 31, 2008, up by 37% from INR 3.44 bn in the corresponding quarter last year.
• Maruti Suzuki reported a net profit of INR 2.98 bn for the fourth quarter ended December 2008 against INR 4.49 bn in the corresponding previous quarter.

Indices Performance

 Market in a nutshell

• Tracking other Asian markets, the indices opened positive however profit booking especially from the steel, engineering and banking sector dragged indices in the red. The markets once again ended with a lackluster note with software and auto being the only support. The Sensex finally closing at 16,698 (down 86 points) while Nifty closed at 5,023 (down 27 points).
• BSE IT Index gained 1.3% to 3,983 with Infosys being the major gainer up 3% to INR 1646. Banking Index lost close to 2% to 8,552 with HDFC and OBC losing over 3% each to INR 1443 and INR 194 respectively.
• Nifty April Futures were trading at par levels to spot in the first half which then expanded to 8-10 points premium. Nifty short roll levels remained stable for another trading session at 8-10 points profit to the short roller.
• Market breadth remained neutral with an Advance: Decline Ratio of 1:1. Arvind Mills soared 16% to INR 57 while Ashok Leyland gained 10% to INR 42.
• Cash volumes were at INR 148,450 mn (NSE) as against a 5 DMA of INR 140,077 mn. F&O volumes were at INR 521,080 mn as against a 5 DMA of INR 430,782 mn.

Eye Catchers

• Hotel Leela was up 10% to INR 51 with volumes of 27,352,041 (up 590%).
• MRPL was up 9% to INR 106 with volumes of 31,977,396 (up 310%).

Market News

• Rupee was trading almost flat at 39.93 a dollar.
• Nymex crude remained strong for another trading session at $ 117/ bbl. Base metals were trading on a weak note with lead trading 2% lower.

Indices Performance