Market Plotter 21-Jan-09-EDEL (EAR)

"Market Plotter"

 

Market in a nutshell  n         Following global cues, markets opened on a grim note and remained weak as the session progressed. Persistent selling in the final hour dragged the indices down sharply leading Nifty to close at 2,706 (down 91 points), and Sensex to end the day at 8,779 (down 321 points). Selling was witnessed across the board. n         BSE Midcap and Smallcap Indices both lost 2% each to 2,956 and 3,373 respectively. n         The benchmark indices saw a significant sell-off led by heavyweights like Reliance Industries, Wipro, HDFC, ICICI Bank, NTPC, Bharti Airtel, ONGC, BHEL, SBI and SAIL. Disappointing earnings from HDFC, Wipro and likely weak numbers from Reliance Industries fuelled the negative sentiment. n         Nifty January Futures were trading at a discount of around 20 points to spot throughout the session. n         BSE Metal and Oil and Gas Index both plunged around 4% to 4,698 and 5,642 respectively. Sterlite fell 8% to INR 237, while Reliance was down 5% to INR 1,119. n         Market breadth was weak with an Advance: Decline Ratio of 1:3. Educomp slumped for the second consecutive day down 22% to INR 1,527, amid speculation that the company fudged its accounts. n         Cash volumes continued to remain low at INR 107,943 mn (NSE+BSE) as against a 5 DMA of INR 103,326 mn. F&O volumes were at INR 430,270 mn as against a 5 DMA of INR 343,350 mn.    Eye Catchers n         Dabur fell 5% to INR 87 with volumes of 671,115 (up 500%). Market News n         Rupee weakened further to trade at INR 49.16 against the dollar. n         Nymex crude fell significantly to trade at $41.52 /bbl. Base metals were trading on a weak note. n         HDFC reported a 16% profit after tax at INR 5.47 bn for the third quarter ended December 31, 2008.   CURRENT PREV. %CHANGE       S&P CNX NIFTY        2,706.15     2,796.60 -3.23%       CNX NIFTY JUNIOR        4,184.75     4,287.10 -2.39%       CNX IT        2,097.75     2,145.45 -2.22%       BANK NIFTY        4,252.30     4,402.35 -3.41%       CNX 100        2,563.10     2,645.60 -3.12%       S&P CNX DEFTY        1,905.05     1,974.95 -3.54%       S&P CNX 500        2,110.85     2,173.35 -2.88%       CNX MIDCAP        3,446.05     3,491.65 -1.31%       NIFTY MIDCAP 50        1,170.20     1,208.70 -3.19%                     Top Gainers             Symbol Open High Low Last Price Prev. Close % Change HCLTECH           109.00        118.00          105.20          115.75             111.10         4.19 HINDUNILVR           240.00        257.85          240.00          255.10             246.05         3.68 NATIONALUM           178.00        196.00          176.00          185.35             182.10         1.78 AMBUJACEM             68.10         71.75           68.10           70.60               69.60         1.44 CIPLA           177.00        181.50          175.15          180.05             177.65         1.35               Top Losers             Symbol Open High Low Last Price Prev. Close % Change ZEEL           119.00        120.00          110.00          110.10             120.40        (8.55) STER           253.10        257.50          235.50          237.50             257.70        (7.84) HDFC        1,449.00     1,458.05       1,351.10       1,373.55          1,485.80        (7.55) TATAPOWER           756.00        763.90          701.80          714.30             768.55        (7.06) ICICIBANK           389.70        389.70          360.00          369.35             396.30        (6.80)