It was a Diwali bonanza for stock market investors as the key benchmark indices scaled record closing highs during the special 45-minute Muhurat trading session held today, 5 November 2010, to mark the begging of the Samvat Year 2067. After a strong start, the market pared gains. Index heavyweight Reliance Industries (RIL) and Larsen & Toubro reversed initial gains. Another indecx heavyweight ICICI Bank also pared gains. The BSE 30-share Sensex jumped 111.39 points or 0.53% to 21,004.96, off close to 100 points from the day's high. All the sectoral indices on BSE were in green. The market breadth was strong.
The barometer index BSE Sensex today, 5 November 2010, crossed the psychological 21000 mark. The 50-unit S&P CNX Nifty surged past the psychological 6,300 level. Banking, realty and auto stocks rose. State Bank of India (SBI), Tata Motors and Hindalco Industries hit record highs. ICICI Bank hit 52-week high.
US stocks wavered Friday despite data showing the US economy added jobs in October 2010 for the first time in five months as private-sector hiring picked up, as the rise appeared too small to signal a turnaround in a stagnant labor market. The Dow Jones Industrial Average fell 2 points to 11,433 in early trading. The Nasdaq Composite slipped less than a point to 2575. The Standard & Poor's 500 index edged up 0.1% to 1222. .
The US Labor Department said the US economy added 151,000 jobs in October 2010, more than economists expected. The unemployment rate held steady at 9.6% for the third straight month in October 2010.
European stock markets reversed early losses Friday, 5 November 2010, after stronger-than-expected US jot data for October 2010. The key benchmark indices in France, Germany and UK rose by between 0.11% to 0.4%.
Asian stocks advanced earlier in the global day in the wake of Thursday's (4 November 2010) rally in the US stock markets. The key benchmark indices in China, Hong Kong, Indonesia, Japan and Taiwan rose by between 0.72% to 2.86%. But, South Korea's Seoul Composite fell 0.18%.
Back home, food inflation eased for a third week in late October 2010, the latest government data showed. The food price index in the year to 23 October rose 12.85% compared with 13.75% rise in the previous week, as the prices of vegetables and pulses fell. Fuel inflation for the same period was at 10.67%, slowing from 11.25% the prior week. The primary articles price index was up 15.43%, compared with an annual rise of 16.62% a week earlier. Food makes up a little over 14% of the wholesale price index (WPI) while fuel contributes about 15%.
The Q2 September 2010 corporate results have been encouraging. The combined net profit of a total of 1932 firms surged 38.8% to Rs 81022 crore on 18.4% growth in sales to Rs 588939 crore in Q2 September 2010 over Q2 September 2009.
India's services sector expanded last month at a faster rate than in September 2010, bringing an end to a 3-month decline in the key business activity index, a survey showed on Wednesday, 3 November 2010. The manufacturing sector expanded in October 2010 at a much faster pace than in September 2010, supported by strong output and a sharp rise in new business, a purchasing managers' index (PMI) showed on Monday, 1 November 2010.
The Reserve Bank of India (RBI) at its second quarterly monetary policy review on Tuesday, 2 November 2010, hiked its lending and borrowing rates by a quarter point each, as expected, to tackle inflationary pressures. The central bank signaled a pause in its policy tightening drive that began in October 2009. Based purely on current growth and inflation trends, the Reserve Bank of India (RBI) believes that the likelihood of further rate actions in the immediate future is relatively low, RBI governor D Subbarao said in a monetary policy statement. "However, in an uncertain world, we need to be prepared to respond appropriately to shocks that may emanate from either the global or domestic environment," he added.
The RBI said it will continue to closely monitor both global and domestic macroeconomic conditions. "We will take action as warranted with a view to mitigating any potentially disruptive effects of lumpy and volatile capital flows and sharp movements in domestic liquidity conditions, consistent with the broad objectives of price and output stability", the policy statement said.
Foreign funds have made heavy purchases of Indian stocks this year. Net equity inflows in 2010 now stands at a record $26.75 billion, above last year's $17.45 billion.
While global liquidity remains ample, a section of the market is worried that a strong equity issuance pipeline over the next six months will soak liquidity from the secondary equity markets. Indian companies are estimated to raise about Rs 80000 crore from equity and debt issue over the next three to six months. State-run Power Grid Corp, Steel Authority of India and Indian Oil Corp are some of the companies that are planning large share sales in coming months.
The BSE 30-share Sensex jumped 111.39 points or 0.53% to 21,004.96, a record closing high. The Sensex rose 215.07 points at the day's high of 21108.64 at the onset of the trading session. The index rose 68.41 points at the day's low of 20961.98.
The S&P CNX Nifty was up 30.65 points or 0.49% to 6,312.45, a record closing high. The Nifty hit a high of 6,338.50.
The BSE Mid-Cap index rose 1.63% and the BSE Small-Cap index rose 2.18%. Both these indices outperformed the Sensex.
The market breadth, indicating the health of the market was strong. On BSE, 2198 shares rose while 540 shares declined. A total of 80 shares remained unchanged.
From the 30 share Sensex pack 26 rose and rest fell.
Index heavyweight Reliance Industries (RIL) fell 0.11% to Rs 1103.50. The stock came off the day's high of Rs 1120. RIL's net profit rose 27.80% to Rs 4923.00 crore on 22.69% rise in net sales to Rs 57479.00 crore in Q2 September 2010 over Q2 September 2009. Its gross refining margin (GRM) for quarter was at US$7.9 per barrel as against US$ 6 per barrel in the corresponding period of the previous year. The company announced the results late last week.
Jindal Steel & Power, Reliance Communications and Larsen & Toubro fell by between 0.43% to 0.73%.
Bank stocks moved higher on optimism of a pick-up in credit offtake in a buoyant economy. India's largest bank by branch network and net profit State Bank of India rose 1.75%, with the stock gaining for the fifth straight day. The stock hit record high of Rs 3,497 today ahead of its Q2 result on Monday, 8 November 2010. But, India's second largest private sector bank by net profit HDFC Bank fell 0.41%, reversing initial gains.
India's largest private sector bank by net profit ICICI Bank was flat at Rs 1262.30 off the day's high of Rs 1277. The stock today, 5 November 2010, scaled a 52-week high of Rs 1,277.
Copper maker Hindalco Industries rose 4.97%. The stock hit a record high of Rs 238 today.
Realty stocks rose on renewed buying. Indiabulls Real Estate, Sobha Developers, HDIL, DLF and Ackuti City rose by between 0.32% to 2.26%.
Coal India rose 1.53% to Rs 347.60 after surging close to 40% on its debut on Thursday, 4 November 2010.
Auto stocks gained on expectation of strong sales during Diwali, the festival of lights. India's biggest commercial India's biggest commercial vehicles maker by sales Tata Motors rose 0.72%. The stock hit record high of Rs 1254.95 today. Total sales rose 21.26% to 64,757 units during October 2010 compared to 53,404 units in the same month last year. The company unveils its Q2 September 2010 results on 9 November 2010.
India's largest tractor maker by sales Mahindra & Mahindra rose 1.7%. The stock hit record high of Rs 794 on Thursday, 4 November 2010. The company's auto sales rose 34% to 34,495 units in October 2010 as against 25,670 units during October 2009.
Bajaj Auto rose 0.34%. The company reported 32% surge in total sales to a 3.7 lakh units in October 2010 over October 2009. The company clocked record motorcycle and commercial vehicle sales in the recently concluded month.
India's top small car maker by sales Maruti Suzuki India rose 0.17%. The company's total sales rose 39.2% to 1.18 lakh vehicles in October 2010 over October 2009.
India's largest bike maker by sales Hero Honda Motors rose 0.46%. The company reported its highest ever monthly sales at 5,05,553 units in October 2010, registering a jump of 42.75% over the same month last year
Source : CM
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Showing posts with label Ravina Consulting. Show all posts
Showing posts with label Ravina Consulting. Show all posts
Sunday, November 7, 2010
Saturday, October 2, 2010
Weekly Analysis 29 Sept 2010
It was a super September indeed with indices racing closer to previous highs. While the long wait over the Ayodhya dispute ended with the Allahabad High Court declaring a split but pragmatic verdict. On the street, the verdict was very clear, Bullishness reigned supreme. A broad-based rally on Friday closed the indices around 2% higher. Being the F&O expiry week, volatility was at its peak especially on Thursday.
Sensex intra-week high of 20,475 and low of 19,864
Nifty intra-week high of 6,153 and low of 5,963
Sensex top gainers: The top gainers in the Sensex were Hindalco (up 6.9%), DLF (up 6.3%), Tata Steel (up 6%), BHEL (up 5.4%) and NTPC (up 4.8%).
Sensex top Losers: The top losers in the Sensex were Ambuja Cements (down 2.9%), ONGC (down 2.2%), Hindustan Unilever (down 1.7%), Reliance Capital (down 1.4%) and ACC (down 1%).
The BSE IT Index (up 2.1%): The top gainers in the IT sector were Wipro (up 3.3%), TCS (up 3.2%), HCL Tech (up 2.2%), Oracle Financial (up 1.7%) and Infosys (up 1.7%).
The top losers in the IT sector were Mahindra Satyam (down 8.9%), Patni Computer (down 3.9%), Mphasis (down 3.2%) and Financial Tech (down 2.9%).
The BSE Consumer Index: The top gainers in the Consumer Durables sector were Videocon Industries (up 7.8%), Blue Star (up 0.5%) and Samtel Color (up 0.4%).
The top losers were Mirc Electronics (down 4.3%), Whirlpool (down 1.5%) and Titan (down 1.1%).
The BSE Healthcare Index (up 2.2%): The top gainers in the Pharma space were Orchid Chem (up 28.3%), Wockhardt (up 13%), Cadila Healthcare (up 8.7%), Glenmark Pharma (up 8.4%) and Suven Life Science (up 8.1%).
The top losers were Emami Limited (down 4.1%), Fresenius Kabi (down 2.7%), Marksans Pharma (down 2.5%), Morepen Labs (down 1.5%) and Divi Labs (down 1.3%).
The BSE Banking Index (up 2.4%):The top gainers in the banking space were Yes Bank (up 6%), Bank Of India (up 5.7%), Oriental Bank of Commerce (up 5.5%), Axis Bank (up 4.5%) and SBI (up 4.2%).
The BSE Auto Index (up 2.6%):The top gainers in the auto space were Eicher Motors (up 9.8%), Bajaj Auto (up 6.8%), Tata Motors (up 3.8%), Hindustan Motors (up 3.7%) and M&M (up 3.6%).
The top losers were Hero Honda (down 0.8%), Swaraj Mazda (down 0.2%) and Maruti Suzuki (down 0.1%).
The BSE Oil & Gas Index (down 0.4%):The top losers in the oil & gas space were HPCL (down 5.2%), IOC (down 4.5%), BPCL (down 4.3%), Jindal Drilling (down 3.3%) and Great Offshore (down 2.5%).
The top gainers were Shiv-Vani Oil (up 4.2%), Cairn India (up 2.8%), Chennai Petroleum (up 2.4%) and Reliance Industries (up 0.6%).
The BSE Capital Goods Index (up 3.7%):The top gainers in the Capital Goods space were Alstom Projects (up 8.8%), Siemens India (up 6.1%), BHEL (up 5.4%), ABB (up 5.1%) and Elgi Equipments (up 4.7%).
The top losers were Jyoti Structures (down 2.1%), Skf India (down 1.9%), Praj Industries (down 1.8%), Dredging Corp (down 1.7%) and Ingersoll Rand (down 1.1%).
The Cement Sector: The top gainers in the cement sector were Birla Corp (up 8.7%), Ultratech Cement (up 6.1%), Binani Indus (up 4.8%), Mangalam Cement (up 4.7%) and Grasim Inds (up 2.6%)
The top losers in the cement sector were Dalmia Cement (down 22.5%), Madras Cements (down 2.7%), Prism Cement (down 2.6%) and ACC (down 1%).
The Telecom Sector: The top losers in the telecom space were Gemini Comm (down 9.6%), Himachal Futuristic (down 8.9%), Idea Cellular (down 4.9%), Tata Communication (down 4.4%) and WWIL (down 4.1%).
The Realty Sector (up 5%): The top gainers in the real estate space were Unitech (up 10.2%), DLF (up 6.3%), Mahindra Lifespace (up 6.2%), Ansal Props (up 5.5%) and Anant Raj Indus (up 5.4%).
The top losers were Akruti City (down 1.7%) and Omaxe (down 0.3%).
The Metals sector (up 5.2%):The top gainers in the metals sector were SAIL (up 8.5%), JSW Steel (up 7.4%), Tata Steel (up 6%), Tata Sponge (up 5.7%) and Jindal Steel (up 5.5%).
The top losers were Adhunik Metaliks (down 1.4%), Sunflag Iron (down 0.8%), Lloyds Metals (down 0.5%).
Sensex intra-week high of 20,475 and low of 19,864
Nifty intra-week high of 6,153 and low of 5,963
Sensex top gainers: The top gainers in the Sensex were Hindalco (up 6.9%), DLF (up 6.3%), Tata Steel (up 6%), BHEL (up 5.4%) and NTPC (up 4.8%).
Sensex top Losers: The top losers in the Sensex were Ambuja Cements (down 2.9%), ONGC (down 2.2%), Hindustan Unilever (down 1.7%), Reliance Capital (down 1.4%) and ACC (down 1%).
The BSE IT Index (up 2.1%): The top gainers in the IT sector were Wipro (up 3.3%), TCS (up 3.2%), HCL Tech (up 2.2%), Oracle Financial (up 1.7%) and Infosys (up 1.7%).
The top losers in the IT sector were Mahindra Satyam (down 8.9%), Patni Computer (down 3.9%), Mphasis (down 3.2%) and Financial Tech (down 2.9%).
The BSE Consumer Index: The top gainers in the Consumer Durables sector were Videocon Industries (up 7.8%), Blue Star (up 0.5%) and Samtel Color (up 0.4%).
The top losers were Mirc Electronics (down 4.3%), Whirlpool (down 1.5%) and Titan (down 1.1%).
The BSE Healthcare Index (up 2.2%): The top gainers in the Pharma space were Orchid Chem (up 28.3%), Wockhardt (up 13%), Cadila Healthcare (up 8.7%), Glenmark Pharma (up 8.4%) and Suven Life Science (up 8.1%).
The top losers were Emami Limited (down 4.1%), Fresenius Kabi (down 2.7%), Marksans Pharma (down 2.5%), Morepen Labs (down 1.5%) and Divi Labs (down 1.3%).
The BSE Banking Index (up 2.4%):The top gainers in the banking space were Yes Bank (up 6%), Bank Of India (up 5.7%), Oriental Bank of Commerce (up 5.5%), Axis Bank (up 4.5%) and SBI (up 4.2%).
The BSE Auto Index (up 2.6%):The top gainers in the auto space were Eicher Motors (up 9.8%), Bajaj Auto (up 6.8%), Tata Motors (up 3.8%), Hindustan Motors (up 3.7%) and M&M (up 3.6%).
The top losers were Hero Honda (down 0.8%), Swaraj Mazda (down 0.2%) and Maruti Suzuki (down 0.1%).
The BSE Oil & Gas Index (down 0.4%):The top losers in the oil & gas space were HPCL (down 5.2%), IOC (down 4.5%), BPCL (down 4.3%), Jindal Drilling (down 3.3%) and Great Offshore (down 2.5%).
The top gainers were Shiv-Vani Oil (up 4.2%), Cairn India (up 2.8%), Chennai Petroleum (up 2.4%) and Reliance Industries (up 0.6%).
The BSE Capital Goods Index (up 3.7%):The top gainers in the Capital Goods space were Alstom Projects (up 8.8%), Siemens India (up 6.1%), BHEL (up 5.4%), ABB (up 5.1%) and Elgi Equipments (up 4.7%).
The top losers were Jyoti Structures (down 2.1%), Skf India (down 1.9%), Praj Industries (down 1.8%), Dredging Corp (down 1.7%) and Ingersoll Rand (down 1.1%).
The Cement Sector: The top gainers in the cement sector were Birla Corp (up 8.7%), Ultratech Cement (up 6.1%), Binani Indus (up 4.8%), Mangalam Cement (up 4.7%) and Grasim Inds (up 2.6%)
The top losers in the cement sector were Dalmia Cement (down 22.5%), Madras Cements (down 2.7%), Prism Cement (down 2.6%) and ACC (down 1%).
The Telecom Sector: The top losers in the telecom space were Gemini Comm (down 9.6%), Himachal Futuristic (down 8.9%), Idea Cellular (down 4.9%), Tata Communication (down 4.4%) and WWIL (down 4.1%).
The Realty Sector (up 5%): The top gainers in the real estate space were Unitech (up 10.2%), DLF (up 6.3%), Mahindra Lifespace (up 6.2%), Ansal Props (up 5.5%) and Anant Raj Indus (up 5.4%).
The top losers were Akruti City (down 1.7%) and Omaxe (down 0.3%).
The Metals sector (up 5.2%):The top gainers in the metals sector were SAIL (up 8.5%), JSW Steel (up 7.4%), Tata Steel (up 6%), Tata Sponge (up 5.7%) and Jindal Steel (up 5.5%).
The top losers were Adhunik Metaliks (down 1.4%), Sunflag Iron (down 0.8%), Lloyds Metals (down 0.5%).
Source IIFL
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Talk / SMS 08105737966
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Monday, September 6, 2010
Market Khabar 6th Sept 2010
MARKETS RECOUPED most of its earlier week’s losses on the back of positive global cues, renewed FII buying, robust automobile sales and a strong show of agriculture sector in GDP numbers. On the Bombay Stock Exchange, the Sensex gained 223 points to close at 18,221 and the Nifty on the NSE surged 71 points to 5,479. Midcap and smallcap indices outperformed benchmark indices reflecting stock specific activity in the markets.
Confusion and revision of GDP numbers have raised fears about the robustness of the Indian growth story. Data discrepancies have been attributed to use of different GDP deflators. Analysts expect that the controversy will be put to rest quickly by the government.
With the timeline for introduction of GST and DTC extended, the market’s focus is now back to global cues and second quarter numbers. Ahead of the second quarter results, marketmen expect a positive build up of positions in ‘strong’ stocks. A better than expected report on the US job market pushed the US market indices into the black for the year. Chartists predict a trading range of 18,000-18,680 for the Sensex and 5,380-5,640 for the Nifty. Expect resistance to indices around 18,450 and 18,570 and 5,550 and 5,640. Supports for the week are at 18,020 and 17,800 and 5,420 and 5,350. A sustained volume action over 5,550 can propel Nifty all the way to 5,700. The willingness to take small losses in some stocks and to let profits grow bigger and bigger in the more promising stocks is essential for good investment management.
Source : DC
Bought to you by :
Bought to you by
Ingenious Investor
Equity Research Division
Ravina Consulting
No.11 AG Plaza
3rd Cross Kamanahalli
BANGALORE 560084
For Free Stock Advise + Ideas
sowmya@ravinaconsulting.com
Talk / SMS 08105737966
Read - www.ingeniousinvestor.blogspot.com
Follow us - www.twitter.com/smartinvestor
Monday, January 25, 2010
BSE NSE Outlook for 25 Jan 2010
Spooked by disappointing corporate earnings and fall in US markets, markets posted their steepest weekly fall since October 2009. On the BSE, the Sensex dropped 695 points to end the week at 16,860 and the Nifty on the NSE shed 216 points to close at 5,036. Volumes in both cash and derivatives segments hit record levels during the week reflecting the ‘run’ to cut positions. Market breadth turned extremely weak with sentiment turning negative on the reports of aggressive selling from FIIs. Market players attribute weak support from domestic financial institutions to their plans to subscribe to the forthcoming PSU IPOs. With earnings season coming to close in next week, the markets will focus on the forthcoming Union Budget. The overall performance of Indian companies on the third quarter earnings has been better-than-expected and re-rating of earnings is overdue, analysts feel. Global markets are worried about President Barack Obama’s bank plan and China’s lending curbs. Markets are likely to be highly volatile next week on the account of F&O settlement, RBI credit policy and outcome of US Fed meet. Protect profits with trailing stops. For the week ahead, chartists predict a trading range of 16,500-17,280 for the Sensex and 4,830-5,180 for the Nifty. Friday’s lows 16,608 and 4,955 are key supports for the indices, a breach of which can take them to 16,280 and 4,830 points. Futures & Options With markets moving out of their recent trading range, robust volumes were seen in the derivatives segment. Overall open interest increased by 12 per cent to over Rs 1,25,000 crore. Option activity-call writing at 5,000-level indicates that for settlement closing Nifty may not be able to cross 5,100-level unless something dramatic happens. Initiate fresh positions only if Nifty futures close above 5,070. Open interest in stock futures shot up by eight per cent reflecting bull-run in select stocks. Among the stock futures that witnessed short build-up are ONGC, Unitech, L&T, Tata Steel, HDFC, Punj, IVRCL, PNB and GAIL. Ahead of RBI policy meet, realty stocks turned weak on persistent selling. Avoid fresh shorts at current levels. Start accumulation for medium term. Spooked by L&T’s performance, capital goods counters fell. But the present correction is likely to be short lived, say industry insiders. The performance of Punj Lloyd indicates that it is focusing on bottom line. Buy for unexpected sharp gains. Metal counters are likely to swing to the tunes of dollar movement Spurt in turnovers at the bourses spell good times for broking houses. Buy India Infoline at current levels for target price of Rs 160 in coming weeks. Mphasis and HCL Tech look good for surprising gains. Buy Mphasis ahead of results for sharp returns. Check out on roll over positions to spot winners for Budget series. Buy during weakness. Buy only after reactions confirming higher support. Stock Scan JSW Energy will commission additional capacity of nearly 2,145 MW by December 2010. Merchant power sales now constitute 73 per cent. It has PPA for 55 per cent of the projects under implementation and stands to capitalise on higher merchant tariffs. Third quarter results reflect good times, buy at current levels for a target price of Rs 200 in next few months. Adani Power is setting up power generation projects with an aggregate capacity of 6,600 MW. The company’s Mundra Power Project is scheduled to be operational by February 2010. Auto boom has benefited auto component manufacturers. Rico Auto is a leading player in the ferrous and aluminum castings space. It has presence in engine, transmission, braking and suspension parts. It is a leading supplier to companies like Hero Honda, Maruti and others. It has expanded its product portfolio with its recent ventures with foreign majors. Buy for a target price of Rs 40 in medium term. Autoline Industries has embarked on the inorganic growth path that could increase revenues by 30 per cent in the next two years. The company has strong presence in press metals and also makes components like brakes, clutches and pedals. It is a leading supplier to Tata Motors and other auto majors. RJ holds 10 per cent equity in the company. Buy at current levels for long term target of Rs 250. Motherson Sumi Systems is the largest wiring harness manufacturer and has recently acquired UK-based Visiocorp to gain leadership in rear view mirror segment. Gaining prestigious clients like BMW, GM, Ford, the company’s acquisition of Visiocorp is a likely game changer for the company. Buy on declines for a target price of Rs 200. C. Kutumba Rao is a Hyderabad-based stock market analyst. The views expressed and the recommendations made are those of the author. Readers are strongly recommended to consult their financial advisors before making any financial investments. This newspaper is not liable for investment decisions made on the basis of recommendations in these columns. Bought to you by Ingenious Investor Equity Research Division Ravina Consulting No.429 Mahavir Tuscan Near Hoodi Circle, Whitefield Mahadevapura Post BANGALORE 560048 Read - www.ingeniousinvestor.blogspot.com Follow us - www.twitter.com/smartinvestor
Sunday, January 24, 2010
Weekly Review 22 Jan 2010
Derivatives: Huge volatility expected with downward bias
Overall indications are negative on weak global markets, and we expect volatility with huge downward bias as we enter the expiry week; possible announcements from the government before the budget on the fiscal stimulus withdrawal too can impact marke
The week ended 22nd January 2010 was extremely disappointing for the global market as there were concerns or signals from the Chinese authority that they would start withdrawing the stimulus provided earlier in order to rein in the visible overheating. Thus the market around the world corrected on fears that the Chinese demand would slow as Beijing taps the brakes on its roaring growth to stave off inflation and keep the economy from overheating. China had curbed lending by banks after raising banks reserve requirement ratios by 50 basis points earlier. The Indian market also corrected and some of the disappointments from key corporate earnings exasperated the bearish sentiment. US President Barack Obama's proposed new restrictions on banks, which would prevent banks or financial institutions that own banks from investing in, owning or sponsoring a hedge fund or private equity fund continued to keep the sentiment bearish. The benchmark S&P CNX Nifty corrected 58.15 points to close at 5036 on Friday 22nd January 2010.
For the full week the nifty corrected 216.20 points and the nifty future closed at discount all throughout the week thus emitting negative undertone. The nifty future discount widened to 16.35 points on Friday. Longs in the January series were seen getting covered; while fresh shorts in February series was seen created. The nifty January series shed 2.80 lakh shares in open interest (OI) to take the total OI to 2.50 crore shares. The February series added 25.77 lakh shares in OI on Friday to take the total OI to 72.75 lakh shares. The volumes increased considerably to wards the end of the week and on Friday the volumes in the F&O segment increased to Rs 1.32 lakh crore. Some of the major stock future counter also witnessed similar trends with rollover of the current series and fresh shorts being created in the February series. The January series stock future shed 11.58 crore shares in OI, while the February series added 11.65 crore shares on Friday. Fresh short being created both at the Nifty and the stock future front is a major negative indicator.
Besides, the trend in the nifty option front was not positive either with calls being written from 4900 to 5200 strikes. The overall trend looks absolutely negative. Now that most of the major companies have already declared their results, the trigger till the budget would be the trend in the global markets.
| Volume in the Futures & Options segment of the NSE (Turnover (Rs. Crore.) | |||||
| Date | Index Futures | Stock Futures | Index Options | Stock Options | Total |
| 4-Jan-10 | 7411 | 15019 | 18075 | 2054 | 42559 |
| 5-Jan-10 | 10499 | 22359 | 23829 | 2913 | 59599 |
| 6-Jan-10 | 9636 | 21199 | 19377 | 2490 | 52702 |
| 7-Jan-10 | 10029 | 20382 | 20455 | 2546 | 53412 |
| 8-Jan-10 | 8568 | 19503 | 17843 | 2567 | 48482 |
| 11-Jan-10 | 8032 | 17918 | 17631 | 2435 | 46016 |
| 12-Jan-10 | 13898 | 21359 | 30853 | 3225 | 69334 |
| 13-Jan-10 | 13654 | 21718 | 32394 | 3117 | 70882 |
| 14-Jan-10 | 9220 | 19698 | 24641 | 2729 | 56287 |
| 15-Jan-10 | 7556 | 18912 | 19830 | 2581 | 48880 |
| 18-Jan-10 | 11100 | 19235 | 27427 | 2463 | 60224 |
| 19-Jan-10 | 11825 | 19770 | 29293 | 2554 | 63442 |
| 20-Jan-10 | 11664 | 20774 | 30552 | 2575 | 65566 |
| 21-Jan-10 | 23846 | 24795 | 59416 | 3060 | 111117 |
| 22-Jan-10 | 27790 | 28506 | 72774 | 3323 | 132392 |
| Source: NSE | |||||
Overall the market wide OI on Friday stood at 222.10 crore shares, thus rising by 1.42 crore shares as compared to the previous day. Additions as compared to the previous week was 17.17 crore shares. Major activity was witnessed in the index and stock options segment. (See table OI breakup).
| Open Interest (OI) break-up as on 22nd January 2010 | ||
| Open Interest (OI)* | Change** | |
| Market wide | 222.10 | 1.42 |
| Index Future | 3.56 | 0.23 |
| Stock Future | 168.75 | 0.10 |
| Index Options | 12.66 | 0.50 |
| Stock options | 37.13 | 0.59 |
| * No of shares in crore ** Change is vis-à-vis previous day Source: NSE | ||
The most active options in the January series were the 4900 to 5200 strikes. The call option on the above mentioned strikes witnessed aggressive writing, while the puts at these strikes were wound up. The OI in 5000, 5100 and 5200 call increased by 28.53 lakh shares, 7.83 lakh shares and 6.23 lakh shares respectively while puts of these strikes shed OI. Thus as we enter the expiry week 5000 levels for the nifty would be the key level below which the market looks extremely bearish. (See most active Nifty options table).
| Most active Nifty options (January 2010 series) | |
| OI | |
| Call | |
| Nifty 5000 | 4048250 |
| Nifty 5100 | 4121200 |
| Nifty 5200 | 6371250 |
| Nifty 5300 | 8561250 |
| Put | |
| Nifty 5000 | 5816450 |
| Nifty 5100 | 3416100 |
| Nifty 5200 | 2548400 |
| Nifty 5300 | 1524250 |
| Source: NSE | |
| Top 10 Open Interest (OI) gainers in January series stock futures on 22nd January 2010 | |||
| Scrip Name | OI* | Change* | % Change |
| PUNJLLOYD | 13890000 | 2203500 | 19 |
| HCLTECH | 1799200 | 260000 | 17 |
| GAIL | 2561625 | 309375 | 14 |
| SUNTV | 232000 | 28000 | 14 |
| GRASIM | 489632 | 30624 | 7 |
| ONGC | 1858275 | 112500 | 6 |
| HDFCBANK | 1778600 | 100800 | 6 |
| BHEL | 1415400 | 54900 | 4 |
| IVRCLINFRA | 2710000 | 74000 | 3 |
| BANKINDIA | 1536150 | 40850 | 3 |
| * No of shares Source: NSE | |||
| Top 10 Open Interest (OI) losers in January series stock futures on 22nd January 2010 | |||
| Scrip Name | OI* | Change* | % Change |
| PETRONET | 4862000 | -2428800 | -33 |
| ULTRACEMCO | 444400 | -201200 | -31 |
| BHARATFORG | 2698000 | -1108000 | -29 |
| DRREDDY | 401600 | -148400 | -27 |
| IDEA | 27054000 | -9984600 | -27 |
| SINTEX | 1374800 | -358400 | -21 |
| BAJAJ-AUTO | 232000 | -58600 | -20 |
| KOTAKBANK | 1486650 | -371800 | -20 |
| WIPRO | 2031600 | -501000 | -20 |
| MCDOWELL-N | 772250 | -180000 | -19 |
| * No of shares Source: NSE | |||
5000 at the nifty level could act as a psychological support. Overall the sentiment looks bearish as evident from such shorts being created both at the nifty and the stock futures. In the absence of any major domestic triggers the global markets will remain the key trigger. There could be some announcements from the government before the budget on the fiscal stimulus withdrawal. Thus the overall indications are negative. Expect volatility with huge downward bias as we enter the expiry week.
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Tuesday, December 29, 2009
Indian Stock Market Weekly review 24 Dec 2009
Bulls have reason to celebrate as last minute shopping before Christmas has taken the Nifty to a new high this week. The Finance Minister's comments on GDP growth coincided with the gains. Positive discussions about divestment programmes in Cabinet meeting, better cues from global markets also added to the upsurge. Finally, both the BSE 30-share Sensex and Nifty added 3.8% each. The BSE Sensex hit an intra-week high of 17,361 and low of 16,578 while NSE Nifty hit an intra-week high of 5798 and low of 4,943. The top gainers: The top gainers in the Sensex were NTPC (up 10.7%), Tata Motors (up 9.5%), Tata Steel (up 9.1%), Hindalco Inds (up 9%) and Reliance Infrastructure (up 6.7%). The Top Losers: The top losers in the Sensex were Cipla (down 2.5%), Hindustan Unilever (down 1.2%), Bharti Airtel (down 1%), Ranbaxy Labs (down 0.9%) and ACC (down 0.6%). The BSE IT Index (up 2.6%): The top gainers in the IT sector were Sasken Communication (up 11.1%), HCL Tech (up 4.7%), TCS (up 3.7%), Wipro (up 3.4%) and Mphasis (up 3%). The top losers were Oracle Financial (down 0.4%) and Financial Tech (down 0.2%). The BSE Consumer Index: The top gainers in the Consumer Durables sector were Whirlpool (up 8.5%), Titan (up 7%), Samtel Color (up 4.5%), Videocon Industries (up 2.5%) and Blue Star (up 0.6%). The BSE Healthcare Index (down 0.1%): The top gainer in the Pharma space was Glenmark Pharma. The stock rose over 8.8% during the week. Glenmark Generics received a tentative approval from the USFDA for two drugs. The estimated market size of one of the drugs Pramipexole Dihydrochloride, the generic version of Boehringer Ingelheim's Mirapex tablets, is estimated at US$487mn. Sun Pharma surged over 5% during the week. The company’s attempts to acquire Taro Pharma received a major boost with the Israeli company’s second-largest minority shareholder, Templeton Asset Management, asking the shareholders not to support the existing management, to vote against their decisions and to demand audited financial statements Panacea Biotec (up 4.6%), Glaxosmithkline (up 4.1%) and Strides Arcolab (up 3.7%) were among the other notable gainers. The top losers in were Suven Life Science (down 4%), Natco Pharma (down 3.5%), Piramal Healthcare (down 3%), Cipla (down 2.5%) and Orchid Chem (down 1.9%). The BSE Banking Index (up 4%): The top gainers in the banking space were Yes Bank (up 7.5%), Axis Bank (up 4.8%), Canara Bank (up 4.4%) and OBC (up 4.2%). ICICI Bank surged 5% during the week. According to reports, the bank plans to raise up to Rs12bn via bonds. The BSE Auto Index (up 2%): The top gainers in the auto space were Tata Motors (up 9.5%), Hero Honda (up 4.3%), Eicher Motors (up 3.4%), Hindustan Motors (up 2%) and Swaraj Mazda (up 1.6%). Bajaj Auto was the top loser. The stock fell 1.4% during the week. The BSE Oil & Gas Index (up 4.8%): The top gainers in the oil & gas space were Gujarat NRE Coke (up 15.8%), Great Offshore (up 13%), Essar Oil (up 4.9%) and HPCL (up 4%). Reliance Industries surged 4% during the week. The company made a gas discovery in one of its exploration blocks in the Krishna Godavari basin off the country's east coast. Great Offshore surged over 13% during the week. Bharati Shipyard concluded its open offer for an additional 20% shares in the company. Following the open offer, Bharati holds 43.17% in Great Offshore. The top losers in the oil & gas space were Hindustan Oil (down 1.1%) and ONGC (down 0.3%). The BSE Capital Goods Index (up 2.4%):The top gainers in the Capital Goods space were Dredging Corp (up 8.5%), BEML (up 8.4%), HEG (up 8.3%), Praj Industries (up 7%) and Jyoti Structures (up 6.6%). The top losers in the Capital Goods space were Gammon India (down 2.7%), ELGI Equipments (down 2.4%), SKF India (down 2.3%), Alfa Laval India (down 0.8%) and Carborundum Universal (down 0.3%). The Cement Sector: The top gainers in the cement sector were Mangalam Cement (up 16.1%), Binani Indus (up 7.3%), Dalmia Cement (up 4.8%), India Cements (up 3.6%) and Prism Cement (up 3%) The top losers were Kakatiya Cement (down 2.2%), Madras Cements (down 1.9%), Birla Corp (down 1.6%), Ultratech Cement (down 1.6%) and JK Cements (down 1.1%). Shares of Ambuja Cement gained 2.7% during the week. According to report released by IIFL during the week stated, “We retain our positive view on Ambuja Cements (ACL) post our recent management visit. We expect ACL’s realisation to be the least negatively affected in the months ahead among the large cement players in India, thanks to the company’s better regional sales mix. ACL’s capacity expansion projects are nearing completion, so we expect volume growth to accelerate in CY10. Benefits from the company stopping clinker purchase from 2QCY10, higher captive power generation and improved volume growth will negate the negative impact of decline in realisation, in our view. At a PER of 11x, EV/EBIDTA of 6x and EV/tonne of US$124 on CY10ii estimates, ACL is trading at reasonable valuations, in our view. We retain ADD on the stock”. The Telecom Sector: The top losers in the telecom were Gemini Comm (down 5.4%), Shyam Telecom (down 2.3%), WWIL (down 2.3%) and Bharti Airtel (down 1%). The top gainers in the telecom space were Himachal Futuristic (up 1.9%), Tata Comm (up 0.8%), MTNL (up 0.8%) and RCom (up 0.5%). The Realty Sector (up 4%): The top gainers in the real estate space were Akruti City (up 12.5%), Parsvnath (up 4.6%), HDIL (up 4.5%), Sobha Developers (up 4.2%) and Ansal Props (up 2.3%). The top losers were Anant Raj Indus (down 2.7%), Mahindra Lifespace (down 1.8%) and Unitech (down 0.7%). The Metals sector (up 6.8%): The top gainer in the metals sector was Adhunik Metaliks. The stock rose over 12% during the week. IDFC Project Equity Company will invest Rs2.5bn through its India Infrastructure Fund in a 540MW plant being built by Adhunik Power & Natural Resources in Jamshedpur. SAIL (up 11.3%), Tata Steel (up 9.1%), Tata Sponge (up 8.7%) and Tata Metaliks (up 8.6%) were among the other top gainers. The top losers were Monnet Ispat (down 2.2%) and Jindal Stainless (down 0.7%). Source : IIFL Bought to you by Ingenious Investor Equity Research Division Ravina Consulting No.429 Mahavir Tuscan Near Hoodi Circle, Whitefield Mahadevapura Post BANGALORE 560048 Read - www.ingeniousinvestor.blogspot.com Follow us - www.twitter.com/smartinvestor
Market Khabar 28 Dec 09
On the back of the Union finance minister's statement that the economy would
grow by eight per cent, the announcement of fast track divestment of some PSUs,
good advance tax numbers and positive global cues, markets bounced back during
the week ended.
On the BSE, the Sensex gained 641 points to close at 17,361 and the Nifty on the
NSE logged 191 points to end at 5,178. Market breadth was good indicating the
`return' of some retail buying interest. Renewed buying from foreign
institutional investors ahead of Christmas vacation surprised bears and
triggered short covering.
Barring major negative news, market performance in the week ahead is likely to
be similar to that of previous one due to only three trading sessions in the
week and F&O settlement.
Chartists predict a trading range of 17,090-17,800 for the Sensex and
5,080-5,360 for the Nifty. Short term supports for the indices are at 17,180 and
16,890 and 5,100 and 5,020. Expect indices to encounter resistance at 17,500 and
17,740 and 5,240 and 5,330. Hold longs if indices sustain above last week highs.
The week ahead will not only usher in a new year but also a new decade.
If present Nifty companies maintain 10.5 per cent CAGR of EPS through out the
next decade, Nifty — by 2020 — can either touch 17,600 in the bullish senario
with P/E of 28 or 6600 in the bearish case with P/E of 10.5. Nifty can touch
10,100 by 2020, even if present P/E of 18 is maintained in the next ten years.
The market is most dangerous when it looks best; it is most inviting when it
looks worst. Don't buy in a hurry-investigate each stock thoroughly before
buying.
Futures & Options
Despite the holidays, the derivative segment witnessed robust volumes during the
week ended. Overall open interest rose sharply by nine per cent to nearly Rs
1,30,000 crore reflecting the underlying bullish undertone.
Nifty OI PCR at 1.48 indicates that further bear squeeze is not ruled out and
that 5,050-5,100 band will be a good support zone.
Among the stock futures looking good for further gains in January series are
Ashok Leyland and Tata Motors from the autos; Hotel Leela and Indian Hotels from
hospitality; Ranbaxy, Biocon and Sun Pharma from pharma; BEML, BHEL, Crompton
Greaves and L&T from capital goods; HCC, IVRCL and Reliance Infra from
infrastructure; Tata Steel, Hindalco and SAIL from metals.
Side counters which are likely to attract heightened attention are EKC, Aditya
Birla Nuevo, Siemens, GTL, PTC and Opto Circuits. Cement stocks are witnessing
renewed buying. Buy ACC for a target price of Rs 950. Good long build up seen in
realty counters. Hold positions for further gains. Power and infrastructure
counters are witnessing good rollovers. Stay invested for present.
With the week ahead dotted with holidays and that many market participants are
on vacation, it can be an unpredictable week with stock specific moves amidst
low volumes.
Low trading volumes tend to compound small moves, causing high market
volatility. Take a break and enjoy holidays.
Stock scan
AIA Enginee-ring is the world's second largest manufacturer of high chro-me mill
internals and specialises in their design and installation in cement, mining and
thermal power ind-ustries. Powered by steady demand, the company has posted good
results for the first half of current fiscal. Buy on declines for a price target
of Rs 500.
Sterlite Technologies, formed out of the demerger of telecom division of
Sterlite Industries, in 2000 is one of the largest producers of optical fiber
and telecom cables and power transmission conductors. It has undertaken
aggressive expansion without any increase in debt-equity ratio leading to a
significant rise in operating margins.
Despite a rally in the stock price, it is trading at a discount to its three
year median P/E. Buy on declines for a target price of Rs 500.
FDC is a debt-free pharma firm with a presence in oral rehydration salts
(Electral brand), ophthalmic, anti-infectives, derma, respiratory and
hae-matinics segments. Sources said the company has bagged large contract
manufacturing orders. Buy at the current levels for target price of Rs 100.
Orbit Corp has raised funds through QIP route and is expected to launch four new
projects in one year. Focus on volume and visibility of earnings from existing
projects make the stock a good bet from realty space. Buy for target price of Rs
400 in medium term.
As we move into 2010, an important lesson learnt from 2009 is: "If you wait too
long to buy, until every uncertainty is removed at the bottom of a market cycle,
you may be left waiting forever. Any time is a good time to invest, so long as
you pick stock diligently.
Wishing our readers a very happy and prosperous new year.
C. Kutumba Rao is a Hyderabad-based stock market analyst. The views expressed
and the recommendations made are those of the author. Readers are strongly
recommended to consult their financial advisors before making any financial
investments. This newspaper is not liable for investment decisions made on the
basis of recommendations in these columns.
source : deccan.com
Bought to you by
Ingenious Investor
Equity Research Division
Ravina Consulting
No.429 Mahavir Tuscan
Near Hoodi Circle, Whitefield
Mahadevapura Post
BANGALORE 560048
Read - www.ingeniousinvestor.blogspot.com
Follow us - www.twitter.com/smartinvestor
grow by eight per cent, the announcement of fast track divestment of some PSUs,
good advance tax numbers and positive global cues, markets bounced back during
the week ended.
On the BSE, the Sensex gained 641 points to close at 17,361 and the Nifty on the
NSE logged 191 points to end at 5,178. Market breadth was good indicating the
`return' of some retail buying interest. Renewed buying from foreign
institutional investors ahead of Christmas vacation surprised bears and
triggered short covering.
Barring major negative news, market performance in the week ahead is likely to
be similar to that of previous one due to only three trading sessions in the
week and F&O settlement.
Chartists predict a trading range of 17,090-17,800 for the Sensex and
5,080-5,360 for the Nifty. Short term supports for the indices are at 17,180 and
16,890 and 5,100 and 5,020. Expect indices to encounter resistance at 17,500 and
17,740 and 5,240 and 5,330. Hold longs if indices sustain above last week highs.
The week ahead will not only usher in a new year but also a new decade.
If present Nifty companies maintain 10.5 per cent CAGR of EPS through out the
next decade, Nifty — by 2020 — can either touch 17,600 in the bullish senario
with P/E of 28 or 6600 in the bearish case with P/E of 10.5. Nifty can touch
10,100 by 2020, even if present P/E of 18 is maintained in the next ten years.
The market is most dangerous when it looks best; it is most inviting when it
looks worst. Don't buy in a hurry-investigate each stock thoroughly before
buying.
Futures & Options
Despite the holidays, the derivative segment witnessed robust volumes during the
week ended. Overall open interest rose sharply by nine per cent to nearly Rs
1,30,000 crore reflecting the underlying bullish undertone.
Nifty OI PCR at 1.48 indicates that further bear squeeze is not ruled out and
that 5,050-5,100 band will be a good support zone.
Among the stock futures looking good for further gains in January series are
Ashok Leyland and Tata Motors from the autos; Hotel Leela and Indian Hotels from
hospitality; Ranbaxy, Biocon and Sun Pharma from pharma; BEML, BHEL, Crompton
Greaves and L&T from capital goods; HCC, IVRCL and Reliance Infra from
infrastructure; Tata Steel, Hindalco and SAIL from metals.
Side counters which are likely to attract heightened attention are EKC, Aditya
Birla Nuevo, Siemens, GTL, PTC and Opto Circuits. Cement stocks are witnessing
renewed buying. Buy ACC for a target price of Rs 950. Good long build up seen in
realty counters. Hold positions for further gains. Power and infrastructure
counters are witnessing good rollovers. Stay invested for present.
With the week ahead dotted with holidays and that many market participants are
on vacation, it can be an unpredictable week with stock specific moves amidst
low volumes.
Low trading volumes tend to compound small moves, causing high market
volatility. Take a break and enjoy holidays.
Stock scan
AIA Enginee-ring is the world's second largest manufacturer of high chro-me mill
internals and specialises in their design and installation in cement, mining and
thermal power ind-ustries. Powered by steady demand, the company has posted good
results for the first half of current fiscal. Buy on declines for a price target
of Rs 500.
Sterlite Technologies, formed out of the demerger of telecom division of
Sterlite Industries, in 2000 is one of the largest producers of optical fiber
and telecom cables and power transmission conductors. It has undertaken
aggressive expansion without any increase in debt-equity ratio leading to a
significant rise in operating margins.
Despite a rally in the stock price, it is trading at a discount to its three
year median P/E. Buy on declines for a target price of Rs 500.
FDC is a debt-free pharma firm with a presence in oral rehydration salts
(Electral brand), ophthalmic, anti-infectives, derma, respiratory and
hae-matinics segments. Sources said the company has bagged large contract
manufacturing orders. Buy at the current levels for target price of Rs 100.
Orbit Corp has raised funds through QIP route and is expected to launch four new
projects in one year. Focus on volume and visibility of earnings from existing
projects make the stock a good bet from realty space. Buy for target price of Rs
400 in medium term.
As we move into 2010, an important lesson learnt from 2009 is: "If you wait too
long to buy, until every uncertainty is removed at the bottom of a market cycle,
you may be left waiting forever. Any time is a good time to invest, so long as
you pick stock diligently.
Wishing our readers a very happy and prosperous new year.
C. Kutumba Rao is a Hyderabad-based stock market analyst. The views expressed
and the recommendations made are those of the author. Readers are strongly
recommended to consult their financial advisors before making any financial
investments. This newspaper is not liable for investment decisions made on the
basis of recommendations in these columns.
source : deccan.com
Bought to you by
Ingenious Investor
Equity Research Division
Ravina Consulting
No.429 Mahavir Tuscan
Near Hoodi Circle, Whitefield
Mahadevapura Post
BANGALORE 560048
Read - www.ingeniousinvestor.blogspot.com
Follow us - www.twitter.com/smartinvestor
Sunday, December 20, 2009
BSE NSE Outlook for 21-24 Dec 09
Market will be extremely volatile with downward bias
As the market enters the expiry week the market looks extremely volatile, with clear down side movement
The S&P CNX Nifty closed below the psychological 5000 level during 18th December 2009. All throughout the week the market was volatile with negative close on each day. For the full week ended 18th December 2009 the nifty fell 129.60 points to close at 4987.70 on Friday. Speculation that the Reserve Bank may tighten monetary policy and the expectation of CRR hike further dented the market during the day. In the futures and option (F&O) front the market traded mix with rather mix signals although the overall trend was negative. The average volume in the F&O segment during the week under review stood higher at Rs 72936.35 crore. The nifty December future added 2.74 lakh shares in open interest (OI) to take the total OI to 2.45 crore shares while the nifty January future added 5.80 lakh shares in OI on Friday 18th December 2009 to take the total OI to 34.89 lakh shares. All throughout the week the nifty December future shed OI to the tune of 25.93 lakh shares.
On the stock futures front most of the frontline stock futures shed December OI with simultaneous increase in OI in the January series. Most of the OI increase in January series was due to fresh short positions being created. December stock futures overall shed 2.04 crore shares in OI on Friday while 2.87 crore shares OI was added in the January stock futures. Reliance, Tata Steel and Tata Motors shed 4.58 lakh shares, 21.41 lakh shares and 27.37 lakh shares in OI during the week under review. ICICI Bank, Sail, Bharti, Rcom and Maruti also shed OI during the week.
Reliance January OI increased by 1.82 lakh shares to take the total OI to 7.96 lakh shares, January series Tata Steel and Tata Motors OI increased by 2.04 lakh shares and 6.42 lakh shares to 26.14 lakh shares and 28.15 lakh shares respectively. January series ICICI Bank OI increased by 5.40 lakh shares to 24.07 lakh shares, while Bharti OI increased by 1.77 lakh shares to 22.91 lakh shares.
In the nifty option front there were negative signals as fresh call writing was observed in the 4900 to 5200 strikes. Besides 4800 and 4900 strike puts witnessed fresh addition of OI.
| Volume in the Futures & Options segment of the NSE (Turnover (Rs. Crore.) | |||||
| Date | Index Futures | Stock Futures | Index Options | Stock Options | Total |
| 27-Nov-09 | 24665 | 19895 | 49581 | 1934 | 96075 |
| 30-Nov-09 | 17464 | 17199 | 30912 | 1973 | 67548 |
| 1-Dec-09 | 12606 | 17793 | 28166 | 2091 | 60657 |
| 2-Dec-09 | 11866 | 19831 | 22893 | 2126 | 56715 |
| 3-Dec-09 | 14559 | 18200 | 25938 | 1964 | 60660 |
| 4-Dec-09 | 17412 | 17490 | 34873 | 1756 | 71531 |
| 7-Dec-09 | 14002 | 14780 | 27395 | 1864 | 58041 |
| 8-Dec-09 | 17641 | 17741 | 31994 | 2052 | 69429 |
| 9-Dec-09 | 15259 | 16937 | 27174 | 1945 | 61314 |
| 10-Dec-09 | 14415 | 15059 | 26852 | 1658 | 57983 |
| 11-Dec-09 | 17440 | 16121 | 35873 | 1898 | 71332 |
| 14-Dec-09 | 16342 | 15212 | 40475 | 1666 | 73694 |
| 15-Dec-09 | 15450 | 16638 | 35621 | 2013 | 69721 |
| 16-Dec-09 | 16824 | 17380 | 39950 | 1977 | 76131 |
| 17-Dec-09 | 16561 | 16550 | 38810 | 1777 | 73698 |
| 18-Dec-09 | 15397 | 15584 | 38544 | 1912 | 71437 |
| Source: NSE | |||||
Overall the market wide OI on Friday stood at 192.97 crore shares, thus gaining by 1.86 crore shares as compared to the previous trading day, however OI increased by 9.76 crore shares as compared to the previous week. Increase in week-on-week OI was due to increased activity in Stock futures and option segment whose OI increased by 4.44 crore shares and 4.49 crore shares respectively on a week-on-week basis. (See table OI breakup).
| Open Interest (OI) break-up as on 18th December 2009 | ||
| Open Interest (OI)* | Change** | |
| Market wide | 192.97 | 1.86 |
| Index Future | 3.13 | 0.12 |
| Stock Future | 145.77 | 0.85 |
| Index Options | 12.79 | 0.24 |
| Stock options | 31.28 | 0.66 |
| * No of shares in crores ** Change is vis-à-vis previous day Source: NSE | ||
Fresh aggressive call writing was witnessed in the 4900, 5000, 5100 and 5200 strike thus indicating bearish tone. The OI of these strikes increased by 2 lakh shares, 11.7 lakh shares, 7.53 lakh shares and 3.73 lakh shares respectively. However there was some put writing as well on 4800 and 4900 strikes. In the January series there was call writing at 5000 and 5100 and 5400 strikes, while there was aggressive put buying in the 4800, 4900 and 5000 strikes. (See most active Nifty options table).
| Most active Nifty options (December series) | |
| OI | |
| Call | |
| Nifty 4900 | 1656700 |
| Nifty 5000 | 4525150 |
| Nifty 5100 | 7719150 |
| Nifty 5200 | 7200250 |
| Put | |
| Nifty 4800 | 4730500 |
| Nifty 4900 | 4937300 |
| Nifty 5000 | 4780150 |
| Nifty 5100 | 2197850 |
| Source: NSE | |
Top 10 Open Interest (OI) gainers in December series stock futures on 18th December 2009
| Scrip Name | OI* | Change* | % Change |
| ASIANPAINT | 14800 | 4200 | 40 |
| CROMPGREAV | 489000 | 70000 | 17 |
| DRREDDY | 546000 | 60000 | 12 |
| TITAN | 89404 | 7416 | 9 |
| MCDOWELL-N | 901250 | 54250 | 6 |
| LUPIN | 418600 | 24500 | 6 |
| RECLTD | 2460900 | 142350 | 6 |
| IDEA | 31986900 | 1830600 | 6 |
| BALRAMCHIN | 18703200 | 1034400 | 6 |
| BAJAJHIND | 12749475 | 646950 | 5 |
| * No of shares Source: NSE | |||
Top 10 Open Interest (OI) losers in December series stock futures on 18th December 2009
| Scrip Name | OI* | Change* | % Change |
| GLAXO | 36900 | -54900 | -60 |
| GTL | 2845500 | -701250 | -20 |
| APIL | 534000 | -79200 | -13 |
| PANTALOONR | 2868750 | -386750 | -12 |
| CAIRN | 10205000 | -1265000 | -11 |
| INFOSYSTCH | 2638800 | -319000 | -11 |
| ROLTA | 2500200 | -300600 | -11 |
| BHEL | 1572300 | -177600 | -10 |
| OFSS | 420600 | -47100 | -10 |
| CONCOR | 6750 | -750 | -10 |
| * No of shares Source: NSE | |||
As the market enters the expiry week the market looks extremely volatile, with clear down side movement.
Source : CapitalMarket
Bought to you by
Ingenious Investor
Equity Research Division
Ravina Consulting
No.429 Mahavir Tuscan
Near Hoodi Circle, Whitefield
Mahadevapura Post
BANGALORE 560048
Read - www.ingeniousinvestor.blogspot.com
Follow us - www.twitter.com/smartinvestor
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