A1FS Views

 Market in a nutshell

• Backed by positive global sentiments, markets opened with a positive gap. Moderating inflation numbers at 12.4% buoyed market sentiments, while a slowdown in economic growth did not hinder the bullish rally. The broader indices scaled upwards consistently with buying witnessed across the board. Sensex closed with smart gains at 14,564 (up 516 points), while Nifty closed at 4,360 (up 146 points).
• Nifty September Futures were trading at a premium of around 10 points to spot for major part of the session.
• Interest rate sensitive sectors rallied the most due to the moderating inflation numbers. BSE Bankex charged to 7,010 (up 6%), with Kotak Bank gaining 9% to INR 606. BSE Realty Index surged 5% to 4,995, with Indiabulls Real Estate soaring 11.5% to INR 289.
• Market breadth was strong with an Advance: Decline Ratio of 3.5:1. Great offshore was up 11% to INR 531, while Dena Bank climbed 8% to INR 44.
• Cash volumes were at INR 160,577 mn (NSE+BSE) as against a 5 DMA of INR 132,523 mn. F&O volumes were at INR 431,703 mn as against a 5 DMA of INR 507,581 mn.

 Eye Catchers

• Ashok Leyland gained 7% to INR 34 with volumes of 7,091,984 (up 200%).

Market News

• Rupee depreciated further to trade at INR 43.85 against the dollar.
• Nymex crude declined to trade at $116.82/bbl. Base metals were trading on a weak note with zinc down 3%.
• The economic growth moderated to 7.9% in the first quarter of current fiscal, against 9.2% a year ago as rising borrowing costs impacted manufacturing and some other sectors.
• Finance Minister P Chidambaram launched trading in currency futures at the National Stock Exchange. Over 65,000 contracts (contract size = USD 1000) were traded in the first session with around 42,000 positions in the near month series. Notably the 11-month and 12-month forward series also showed good amount of trading interest.

Indices performance

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 Market in a nutshell

• Markets exhibited range bound movement in the negative territory, with selling pressure intensifying in the final hour. Sensex finally closed at 14,048 (down 249 points), while Nifty closed at 4,214 (down 78 points).
• Nifty September Futures were trading at a discount of around 5 points to spot for major part of the session.
• The August series witnessed higher rollover (in % terms) as compared to July with Nifty rollover at 75% and market wide at 84%. The Nifty open interest base however, continues to be low at INR 127 billion as we enter the September series.
• BSE Oil and Gas Index declined 2.5% to 9,408, with Aban Offshore down 5% to INR 2,026. BSE Capital Goods fell 2% to 11,493, with Alstom Projects down 4% to INR 370.
• Market breadth was negative with an Advance: Decline Ratio of 1:3. Oswal Chemicals lost 7.5% to INR 25, while Wire and Wireless was down 6.5% to INR 22.
• Cash volumes were at INR 171,336 mn (NSE+BSE) as against a 5 DMA of INR 123,688 mn. F&O volumes were at INR 661,642 mn as against a 5 DMA of INR 479,262 mn.

Eye Catchers

• Purvankara gained 8% to INR 202 with volumes of 99,685 (up 200%).
• Hindalco fell 6% to INR 121 with volumes of 14,554,132 (up 300%).

Market News

• Rupee depreciated to trade at INR 43.79 against the dollar.
• Nymex crude rose to trade at $119.34/bbl. Base metals were trading on a strong note with lead up 11%.

Indices performance

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 Market in a nutshell

• Markets opened on a weak note and traded within a narrow range in the negative territory for major part of the day. The final hour saw selling activity intensify which dragged the indices, with Sensex finally closing at 14,297 (down 185 points), while Nifty closed at 4,292 (down 46 points). Selling was witnessed across the board.
• Nifty August Futures were trading at a premium of around 3-5 points to spot for major part of the session.
• On the penultimate day of the August series expiry, Nifty has rolled over to the extent of 56% while market wide rollovers are at 61%. Nifty rollover has picked up significantly and is comparatively better than the average of 53% seen on D-1 of previous expiries.
• BSE Realty was the major loser of the day dropping 3.5% to 4,837, with Indiabulls Real Estate plunging 8% to INR 262. BSE Bankex slipped 2% to 6,715, with SBI down 3% to INR 1,331.
• Market breadth was negative with an Advance: Decline Ratio of 1:2. Educomp gained 4% to INR 3,473, while Chambal Fertilisers was down 7% to INR 73.
• Cash volumes were low at INR 124,703 mn (NSE+BSE) as against a 5 DMA of INR 125,658 mn. F&O volumes were at INR 475,355 mn as against a 5 DMA of INR 461,327 mn.

Market News

• Rupee strengthened to trade at INR 43.67 against the dollar.
• Nymex crude rose to trade at $117.68/bbl. Base metals were trading on a weak note with zinc down 2%.

Indices performance

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 Market in a nutshell

• Taking cues from global peers, local bourses opened weak and remained in the negative territory for major part of the day. The final hour however saw some buying which helped the indices pare losses and end marginally in the green. Sensex closed at 14,482 (up 32 points), while Nifty closed at 4,338 (up 3 points).
• Nifty August Futures were trading at a premium of around 5-10 points to spot for major part of the session.
• BSE Bankex advanced 2% to 6,863, with HDFC Bank climbing 4% to INR 1,255. BSE Oil and Gas Index slipped 1% to 9,768, with Reliance down 2% to INR 2,180.
• Market breadth was slightly negative with an Advance: Decline Ratio of 8:10. India Bulls Real Estate fell 5% to INR 287, while Amtek was down 4% to INR 174.
• Cash volumes were low at INR 124,588 mn (NSE+BSE) as against a 5 DMA of INR 126,555 mn. F&O volumes were at INR 448,621 mn as against a 5 DMA of INR 497,794 mn.

Eye Catchers  

• Strides Arcolab gained 6.5% to INR 198 with volumes of 306,273 (up 1440%).

Market News

• Rupee depreciated to trade at INR 43.85 against the dollar.
• Nymex crude fell to trade at $113.25/bbl. Base metals were trading on a weak note with zinc and copper down 2.5%.
• Bharat Heavy Electricals won a contract worth INR 1.40 bn from the United Arab Emirates for two gas turbines generating units of 42 MW each.

Indices performance

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