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| Siemens India |
Indian equities continue to reel under selling pressure led by sell-off majorly in technology, metal, realty, auto, FMCG, telecom and financial companies' shares at 10:50 hours. However, there was a bit of recovery from day's low - the Nifty got back above the 5450 level on the back of buying in heavyweights ONGC and Reliance Industries followed by Siemens, SAIL, Dr Reddy's Labs, HUL, BHEL and Sun Pharma.
Punita Kumar Sinha of the Blackstone Group said Indian markets were not yet near its absolute low and sees chances of further correction in valuation. However, Trader Atul Suri said he sees support for the Nifty at the 5,300 level; an important support level for the market. He believes the current downturn is only a corrective phase as there is a crisis of confidence in markets now.
The fall in US markets on Friday and select Asian markets weighed on Indian benchmarks, especially due to anti-government rioting in Egypt. More than 100 people have been killed during six days of protests in Egypt aimed at toppling President Hosni Mubarak. A wider conflagration in the region could threaten the flow of oil at a time when the global recovery was just beginning to look sustainable.
"For the global economy, Egypt is less important, though it does matter for access to the Suez Canal, a key oil distribution route," ANZ Bank economist Sharon Zollner said in a note to clients.
"The greater fear is that the turmoil could spread to other Middle East countries, including even Saudi Arabia. If that happens, then all bets on oil prices are off."
The 30-share BSE Sensex was trading at 18,185, with a loss of 210 points and the 50-share NSE Nifty fell 50 points to 5,462. The broader indices too were following the same trend - the BSE Midcap & Smallcap indices down 1.4% each.
However, Suri added that the Nifty could face some resistance at 5,700 on the upside and feels confidence could re-emerge in the market if the Niftybreached 5,700.
Among frontliners, ONGC shot up 4.8% as it reported 131% rise in net profit of Q3FY11 to Rs 7083 crore. Siemens jumped 15% post open offer. Company made open offer to buy 19.82% stake at Rs 930/share. Promoters currently hold 55% stake. Offer will open on March 25 and close on April 13.
Dr Reddy's Labs gained 2.67% as it has received US court approval to sell Allegra D24, reports CNBC-TV18 quoting NW18. Reliance Industries, GAIL, HUL and BHEL went down 0.4-1.9%.
However, HDFC, TCS, Bharti Airtel, Sterlite Inds, Jaiprakash Associates, BPCL and Bajaj Auto fell 2-4%.
In midcap space, Supreme Inds, Den Networks, Opto Circuits, Tube Investment and India Infoline gained 3% each. However, Jain Irrigation, MindTree, Kirloskar Oil, Nava Bharat Ventures and Voltas lost 5.5-8%.
In smallcap space, Orissa Sponge, Simplex Project, Valecha Engg, Modern India and Maharashtra Scooters rallied 6-15%. However, Nagarjuna Agric, Hawkins Cooker, Relaxo Footwear, Petron Eng and Shilpa slipped 6.7-13%.
The benchmark Nifty started the final session of January month on a weak note, led by sell-off in almost all major heavyweights. The downtrend continues for fourth consecutive day on the back of fall in US markets, tracking tensions in Egypt. The Nifty slipped below 5450 level on panic selling and was inching down towards 5400-mark.
Investors are caution about access to the Suez Canal, crucial to Europe's imports of oil and Asian goods, as clashes between government forces and protesters demanding the removal of President Hosni Mubarak escalated
Among frontliners, Maruti Suzuki (down 4.5% post numbers - ), Bharti Airtel, Reliance Communications, Jaiprakash Associates, Sterlite Industries, Tata Steel, Hero Honda, Tata Motors, BPCL, Sun Pharma, Wipro, DLF (ahead of numbers), L&T, TCS, Infosys, SBI, ICICI Bank and Kotak Mahindra Bank were witnessing selling pressure.
However, Siemens jumped 16% post open offer. Company made open offer to buy 19.82% stake at Rs 930/share. Promoters currently hold 55% stake. Offer will open on March 25 and close on April 13.
Dr Reddy's Labs gained 3.3% as it has received US court approval to sell Allegra D24, reports CNBC-TV18 quoting NW18.
ONGC went up 1.7% as it reported 131% rise in net profit to Rs 7083 crore.
At 9:17 hours IST, the 30-share BSE Sensex was trading at 18,144, down 251 points and the 50-share NSENifty was at 5,449, down 63 points.
The Nifty Junior fell 234 points to 10,620 and CNX Midcap lost 147 points to 7,733. About 107 shares advanced as against 663 shares declined on National Stock Exchange.
Midcap & Smallcap Space:
Results Reaction: GIC Housing Finance rose 3%. GSFC was up 3.4%. However, Eros International went down 0.5% despite good numbers. Jagran Prakashan tanked 6% and Alok Industries was down 1.7% despite strong gnumbers, could be seeing profit booking.
MindTree lost 12% as Ashok Soota resigned from company's board of directors. Soota co-founded MindTree in 1999.
Aban Offshore was down 2% and Exide down 8%. Lupin, Ashok Leyland, United Phosphorous, S Kumars, REC, Apollo Tyres, South Indian Bank, Delta Corp, Uttam Galva and TVS Motor plunged 3-5%.
Global cues:
Asian markets were mixed in trade. Hang Seng, Nikkei, Straits Times and Kospi were down over 1%. However, Shanghai rose 1% and Taiwan was up 0.5%.
The US markets witnessed worst single-session slide in five months; Dow Jones broke an eight-week winning streak.
The Dow Jones Industrial Average ended down 166 points or 1.4% at 11,824 on Friday. It was down 0.4% for week while up 2.13% YTD.
Commodities
CRB Commodity Index gained 1.2% on Friday. It was up 0.4% for the week
Crude Oil surged 4.3% at USD 89.34/barrel post social unrest in Egypt
Natural gas ended up 0.2% at USD 4.33 per MMBtu
Gold gained 1.5% at USD 1337.70 per ounce, rebounded after hitting 4-monthlow
Silver was up 3.3% at USD 27.92 per ounce, rebounded after hitting 1 month low
F&O cues:
Total Nifty futures up Rs 217 crore, Options up Rs 11497 crore
Punita Kumar Sinha of the Blackstone Group said Indian markets were not yet near its absolute low and sees chances of further correction in valuation. However, Trader Atul Suri said he sees support for the Nifty at the 5,300 level; an important support level for the market. He believes the current downturn is only a corrective phase as there is a crisis of confidence in markets now.
The fall in US markets on Friday and select Asian markets weighed on Indian benchmarks, especially due to anti-government rioting in Egypt. More than 100 people have been killed during six days of protests in Egypt aimed at toppling President Hosni Mubarak. A wider conflagration in the region could threaten the flow of oil at a time when the global recovery was just beginning to look sustainable.
"For the global economy, Egypt is less important, though it does matter for access to the Suez Canal, a key oil distribution route," ANZ Bank economist Sharon Zollner said in a note to clients.
"The greater fear is that the turmoil could spread to other Middle East countries, including even Saudi Arabia. If that happens, then all bets on oil prices are off."
The 30-share BSE Sensex was trading at 18,185, with a loss of 210 points and the 50-share NSE Nifty fell 50 points to 5,462. The broader indices too were following the same trend - the BSE Midcap & Smallcap indices down 1.4% each.
However, Suri added that the Nifty could face some resistance at 5,700 on the upside and feels confidence could re-emerge in the market if the Niftybreached 5,700.
Among frontliners, ONGC shot up 4.8% as it reported 131% rise in net profit of Q3FY11 to Rs 7083 crore. Siemens jumped 15% post open offer. Company made open offer to buy 19.82% stake at Rs 930/share. Promoters currently hold 55% stake. Offer will open on March 25 and close on April 13.
Dr Reddy's Labs gained 2.67% as it has received US court approval to sell Allegra D24, reports CNBC-TV18 quoting NW18. Reliance Industries, GAIL, HUL and BHEL went down 0.4-1.9%.
However, HDFC, TCS, Bharti Airtel, Sterlite Inds, Jaiprakash Associates, BPCL and Bajaj Auto fell 2-4%.
In midcap space, Supreme Inds, Den Networks, Opto Circuits, Tube Investment and India Infoline gained 3% each. However, Jain Irrigation, MindTree, Kirloskar Oil, Nava Bharat Ventures and Voltas lost 5.5-8%.
In smallcap space, Orissa Sponge, Simplex Project, Valecha Engg, Modern India and Maharashtra Scooters rallied 6-15%. However, Nagarjuna Agric, Hawkins Cooker, Relaxo Footwear, Petron Eng and Shilpa slipped 6.7-13%.
The benchmark Nifty started the final session of January month on a weak note, led by sell-off in almost all major heavyweights. The downtrend continues for fourth consecutive day on the back of fall in US markets, tracking tensions in Egypt. The Nifty slipped below 5450 level on panic selling and was inching down towards 5400-mark.
Investors are caution about access to the Suez Canal, crucial to Europe's imports of oil and Asian goods, as clashes between government forces and protesters demanding the removal of President Hosni Mubarak escalated
Among frontliners, Maruti Suzuki (down 4.5% post numbers - ), Bharti Airtel, Reliance Communications, Jaiprakash Associates, Sterlite Industries, Tata Steel, Hero Honda, Tata Motors, BPCL, Sun Pharma, Wipro, DLF (ahead of numbers), L&T, TCS, Infosys, SBI, ICICI Bank and Kotak Mahindra Bank were witnessing selling pressure.
However, Siemens jumped 16% post open offer. Company made open offer to buy 19.82% stake at Rs 930/share. Promoters currently hold 55% stake. Offer will open on March 25 and close on April 13.
Dr Reddy's Labs gained 3.3% as it has received US court approval to sell Allegra D24, reports CNBC-TV18 quoting NW18.
ONGC went up 1.7% as it reported 131% rise in net profit to Rs 7083 crore.
At 9:17 hours IST, the 30-share BSE Sensex was trading at 18,144, down 251 points and the 50-share NSENifty was at 5,449, down 63 points.
The Nifty Junior fell 234 points to 10,620 and CNX Midcap lost 147 points to 7,733. About 107 shares advanced as against 663 shares declined on National Stock Exchange.
Midcap & Smallcap Space:
Results Reaction: GIC Housing Finance rose 3%. GSFC was up 3.4%. However, Eros International went down 0.5% despite good numbers. Jagran Prakashan tanked 6% and Alok Industries was down 1.7% despite strong gnumbers, could be seeing profit booking.
MindTree lost 12% as Ashok Soota resigned from company's board of directors. Soota co-founded MindTree in 1999.
Aban Offshore was down 2% and Exide down 8%. Lupin, Ashok Leyland, United Phosphorous, S Kumars, REC, Apollo Tyres, South Indian Bank, Delta Corp, Uttam Galva and TVS Motor plunged 3-5%.
Global cues:
Asian markets were mixed in trade. Hang Seng, Nikkei, Straits Times and Kospi were down over 1%. However, Shanghai rose 1% and Taiwan was up 0.5%.
The US markets witnessed worst single-session slide in five months; Dow Jones broke an eight-week winning streak.
The Dow Jones Industrial Average ended down 166 points or 1.4% at 11,824 on Friday. It was down 0.4% for week while up 2.13% YTD.
Commodities
CRB Commodity Index gained 1.2% on Friday. It was up 0.4% for the week
Crude Oil surged 4.3% at USD 89.34/barrel post social unrest in Egypt
Natural gas ended up 0.2% at USD 4.33 per MMBtu
Gold gained 1.5% at USD 1337.70 per ounce, rebounded after hitting 4-monthlow
Silver was up 3.3% at USD 27.92 per ounce, rebounded after hitting 1 month low
F&O cues:
Total Nifty futures up Rs 217 crore, Options up Rs 11497 crore
Stock futures net add 66 lakh shares in Open Int
Nifty Fut OI net add 13 lakh shares in Open Int; Nifty futures prem at 25 prem due to heavy cash based selling
Nifty Open Int PCR unchanged at 1.31
Nifty Put add 1.1 crore shares, Call add 83 lakh shares in Open Int
Highest Open Int outstanding at 5400 Put, 5500 Put, 5800 call
Nifty 5400 Put adds 26 lakh shares in Open Int
Nifty 5600 Call adds 20.9 lakh shares in Open Int
Nifty 5200 Put adds 15.3 lakh shares in Open Int
Nifty 5100 Put adds 14.9 lakh shares in Open Int
Nifty 5700 Call adds 12.8 lakh shares in Open Int
Nifty 5300 Put adds 12.7 lakh shares in Open Int
Nifty 5500 Call adds 10.7 lakh shares in Open Int
Nifty 5000 Put adds 6.9 lakh shares in Open Int
