It was a consolidation day for the markets, which were building base for the next move. They ended mixed amid extreme choppiness after Monday’s free fall. Oil, power and few auto stocks were on buyers’ radar while capital goods, technology, banking, realty, pharma and metal stocks remained under pressure.

The Sensex was up 14 points at 11,784 and the Nifty gained 4.25 points at 3,606 (provisional).

On the global front, Asian markets had started on a weaker note but managed to recover from day’s low on speculation of interest rate cut. They ended mixed. Shanghai fell 0.73%, Nikkei -3.03% and Jakarta -1.76%. However, Straits Times 0.43%, Kospi 0.54% and Taiwan Weighted 0.34%. Hang Seng was shut.

European markets were trading higher and were also witnessing volatility. FTSE was up 42 points, CAC 64 points and DAX rose 72 points, at 4:15 pm.

There were reports that Barclays and Royal Bank of Scotland (RBS) are in talks with UK Govt for USD 79 billion funding. RBS fell 39% after S&P cut company’s credit rating for first time in a decade.

Australian central bankers cut lending rates by 100 bps. There were speculations that global central banks may propose coordinated inter-meeting rate cut. France proposed an emergency G8 meeting on financial crisis.

Traders increased bets on size of rate cut on the October 29 Federal Open Market Committee (FOMC) meeting. Fed Funds Futures suggested a 52% probability of 75 bps cut. Dow Jones and Nasdaq Futures were down 0.4% and 1%, respectively.

Markets @ 3 pm : Mkts extremely choppy; Nifty struggles @ 3600

Benchmark indices are still witnessing selling pressure and are extrmely volatile. Domestic funds, especially MFs are sellers in today’s trade. Large cap liquid stocks are under pressure as funds liquidate positions to raise cash levels. Flows are mixed at FII desk while buying is seen at lower levels by insurance companies.

Markets are concerned over fresh credit crisis in the UK; reports suggest that Royal Bank Of Scotland (RBS) and Barclays have asked UK government to invest USD 79 billion to bolster capital. FTSE fell 5 points and DAX lost 26 points while CAC gained 23 points.

The Sensex tumbled 146 points to 11,655 and the Nifty lost 16 points to 3,586, at 3 pm. BSE Midcap and Small cap indices plunged nearly 3% each.

Among the midcap stocks, Mercator Lines, Rolta, Great Offshore, HEG, Gitanjali Gems, BL Kashyap and IRB Infra plunged 12.5-16%.

In the small cap segment, Maharashtra Scooters, Aksh Optifibre, Action Construction, Vakrangee, Balmer Invest and ABG Infralogist lost 13-20%.

Market breadth is very weak; about 782 shares have advanced while 2188 shares have declined. Nearly 212 shares are unchanged.

Biggest losers are Sterlite Industries, HDFC Bank, L&T and Siemens while Ranbaxy Labs, NTPC, Bharti Airtel, NALCO, SAIL and Reliance Power are gainers.

Markets @ 1:47 pm : Mkts under pressure; Sterlite, L&T, TCS, M&M top losers

Markets are trading sharply lower. Capital Goods, technology, metal, pharma, FMCG, banking, and auto stocks are under pressure. Midcap and small cap stocks are also in negative terrain.

On the global front, Europen markets are trading mixed. FTSE and DAX fell 0.9% each while CAC rose 0.3%.

At 1:47 pm, the Sensex lost 249 points at 11552, and the Nifty fell 51 points at 3551. BSE Midcap and Small cap indices plunged 2% each.

Market breadth is negative; about 986 shares have advanced while 1967 shares have declined. Nearly 229 shares are unchanged.

Top losers are Sterlite Industries, TCS, L&T and HCL Technologies while gainers are Ranbaxy Labs, NTPC, ONGC, Nalco and Reliance Power.

Reliance Industries has hit 52-week low of Rs 1,615.25. Earlier 52-week low was Rs 1,632.10.

Markets @ 12:34 pm :Mkts bounce back on strong European indices

Markets have bounced back again and are trading with marginal gains. ONGC, Reliance Industries, NTPC, Bharti Airtel, SAIL, DLF, BHEL, Infosys and Wipro are supporting markets while ITC, L&T, HDFC Bank, Sterlite Industries and Cairn India are pulling markets lower.

European markets have opened on a strong note. FTSE and DAX surged over 2% and CAC rose nearly 4%. This has helped our markets to regain as well.

The Sensex rose 115 points to 11,916 and the Nifty gained 71 points at 3,673, at 12:34 pm. However, BSE Midcap and Small Cap indices are down over 1.5% each.

Buying is seen in oil & gas, realty, power, telecom and technology stocks. However, FMCG, few pharma, capital goods and auto stocks are under pressure.

Breadth is still in favour of declines due to fall in midcap and small cap stocks. About 893 shares have advanced while 2057 shares have declined. Nearly 232 shares are unchanged.

ONGC, DLF, NTPC, Nalco, GAIL and Ambuja Cements are top gainers while ITC, L&T, Sterlite Industries and Sun Pharma are losers.

Markets @ 11:25 am : Sensex in red led by ITC, L&T, Maruti, ICICI, HUL

Benchmark indices are trading mixed after strong opening in early trade. The Sensex lost nearly 400 points and Nifty nearly 80 points from day’s high. FMCG, capital goods, banking, pharma, metal and auto stocks are under pressure. However, major oil, IT and power stocks are in green.

The Nifty is holding in green because Reliance Industries and ONGC are strong.

The Sensex lost 65 points at 11,736 while the Nifty gained 25 points at 3,627, at 11:25 am. BSE Midcap and Small Cap lost 1.8% and 1.34%, respectively.

BSE FMCG and Capital Goods indices are up over 3%. Bankex fell 2.2%. Healthcare, Metal and Auto lost over 1%. However, Oil & Gas Index rose 1%. IT and Power gained over 0.8%.

Top losers are ITC, L&T, ICICI Bank and Maruti Suzuki. However, ONGC, Bharti Airtel, Infosys, Nalco and GAIL are gainers.

Market breadth is dismal; about 930 shares have advanced while 2032 shares declined. Nearly 220 shares are unchanged.

Markets @ 10:50 am : Markets off day’s high; L&T, Maruti, ITC top losers

Markets have given up gains and are trading off day’s high. Buying is seen in realty, oil, telecom, banking, power and technology stocks. However, selling is seen in few capital goods, auto, pharma, metal and FMCG stocks.

The Sensex lost 300 points and the Nifty over 60 points from day’s high of 12,181.43 and 3732.65. It rose 36 points to 11,837 and the Nifty gained 47 points at 3,649, at 10:50 am.

Market breadth is in favour of declines; about 1291 shares have advanced, 1665 shares have declined. Nearly 226 shares are unchanged. Midcap and Small cap indices are flat.

Top losers are ITC, Larsen & Toubro and Maruti Suzuki. However, gainers are ONGC, Bharti Airtel, HDFC, Nalco and GAIL.

BSE Oil & Gas and Realty indices rose 2%. TECK, Power and IT indices rose 1-1.6%. Metal, Bankex and Auto indices are flat. However, FMCG Index tumbled 3% and Capital Goods fell 1.8%.

Markets @ 9:57 am : Mkts rebound sharply on CRR cut; Sensex back above 12K

Markets have bounced back sharply and have managed to recover half of yesterday’s loss. Benchmark indices have taken Cash Reserve Ratio (CRR) cut positively, where RBI has cut CRR by 50 bps to 8.5% in late evening yesterday, which will infuse around Rs 20,000 crore into the system and will be implemented from October 11. Recovery in Asian markets and strong SGX Nifty have helped our markets as well.

Deepak Parekh, Chairman, HDFC finds the news of the 50 bps CRR cut by the Reserve Bank of India with effect from 11 October a great relief as there is no liquidity in the system. He said that the liquidity had totally dried up in the last three-four days with a lot of borrowers but no lenders and that this move has released about Rs 20,000 crore liquidity into the system.

Beaten down sectors like banking, realty, telecom, technology, capital goods, oil, metal and power stocks are on buyers’ radar. Midcap and Small cap indices are up just over 1%.

At 9:56 am, the Sensex shot up by 332 points to 12,134 and the Nifty gained 116 points to 3,718.

In the frontliners, HDFC Bank, HDFC, DLF, SBI, Unitech, Tata Steel, TCS, Suzlon Energy, L&T, Ranbaxy Labs, ICICI Bank, SAIL, Reliance Power, Reliance Infrastructure, Bharti Airtel and Reliance Industries have gained.

Asian markets have shown some recovery from day’s low. Shanghai fell 1.66%, Nikkei -1.62% and Jakarta -0.38%. However, Straits Times gained 2.45%, Kospi 0.47% and Taiwan 0.15%.

The Dow Jones closed below the psychological 10000 mark for the first time in 4 years on fears that the credit crisis is spreading its tentacles across world markets. The index however pared its massive losses in the final hour of trade. Dow Jones ended down 369 points, S&P 500 shed 42 points and Nasdaq ended down 84 points.

Market cues:

RBI cuts CRR by 50 bps w.e.f. Oct 11, says its an ‘ad-hoc, temporary’ measure

SEBI scraps restrictions on Overseas Derivatives Instruments (ODIs) via Promissory Notes (PNs), removes 40% cap

Global markets see massive slide, US down 4%, Dow closes below 10,000

European markets closed with near 10% losses, Russia down 19%

Trade halted twice in Brazil after 15% fall in benchmark index, ends down 5%

FIIs net sell $259.3 million in equity

MFs net sell Rs 342.8 crore in equity

NSE F&O Open Interest up by Rs 114 crore at Rs 65,512

F&O cues:

Futures Open Interest down by Rs 1,497 crore and Options Open Interest up by Rs 1,611 crore
Nifty Futures add 10 lakh shares in Open Interest, at 23-point premium
Nifty Open Interest Put-Call Ratio (PCR) at 0.79 Vs 0.90
Nifty Puts shed 7.5 lakh shares in Open Interest
Nifty Calls add 45 lakh shares in Open Interest
Nifty 3600 Put adds 13 lakh shares in Open Interest
Nifty 3800 Put sheds 8.8 lakh shares in Open Interest
Nifty 3700 Call adds 11.5 lakh shares in Open Interest
Nifty 3800 Call adds 7.4 lakh shares in Open Interest
Nifty 3600 Call adds 6.9 lakh shares in Open Interest
Stock Futures shed 30 lakh shares in Open Interest

Source : moneycontrol.com

Tags: calls, daytrading, free calls, intraday, tips

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