|
|
| India Infoline Research Team / 09:23 , Sep 08, 2010 |
|
Looks like the bulls may have to settle down a bit. On a day when the world markets were a bit skittish India managed to out-perform. |
|
Circumstances are the rulers of the weak; they are but the instruments of the wise.
- Samuel Lover
Looks like the bulls may have to settle down a bit. On a day when the world markets were a bit skittish India managed to out-perform. The breadth was positive, partly thanks to persistent surge in small-caps. Turnover was also good. Most of the buying came from local funds even as FIIs were net sellers. The momentum in Small-Caps is being driven by retail investors.
The big question is can this rally sustain? At least today we expect some softening due to fresh weakness in global markets. US and European markets fell amid renewed concerns over the health of the euro-zone banks. Asian markets are also down this morning.
There are reports that Europe’s much hyped “stress tests” weren’t tough enough and that the strength of region’s financial system remains suspect. And, if the advance in the yen and gold are any indication risk aversion is still high.
Global factors and events will continue to drive the local sentiment, apart from liquidity. The near-term trading range on the Nifty is 5400-5700. The market will meet resistance around 5650 and around 5680.
ADR/GDR
|
|
|
|
|
Latest (US$)
|
Price % chg
|
% Prem/Disc
|
Dr. Reddys
|
30.5
|
(0.1)
|
(0.2)
|
HDFC Bk
|
163.5
|
(3.6)
|
16.1
|
ICICI Bk
|
43.4
|
0.3
|
(2.0)
|
ITC
|
3.5
|
(0.4)
|
(0.0)
|
Infosys
|
60.8
|
0.3
|
(0.6)
|
Satyam
|
5.3
|
4.4
|
30.7
|
Ranbaxy
|
11.0
|
(0.9)
|
1.3
|
Reliance
|
41.2
|
0.7
|
0.1
|
Wipro
|
13.0
|
(4.2)
|
48.8
|
SBI
|
120.5
|
(0.4)
|
(0.5)
|
Tata Motors
|
22.5
|
(0.7)
|
1.5
|
Sterlite
|
14.1
|
1.2
|
300.2
|
L&T
|
39.9
|
5.0
|
(0.3)
|
Indian market
|
|
% change
|
|
Last close
|
1 day
|
3 mth
|
YTD
|
Sensex
|
18,645
|
0.5
|
12.2
|
6.8
|
Nifty
|
5,604
|
0.5
|
12.4
|
7.7
|
BSE 100
|
2,393
|
0.4
|
13.1
|
9.8
|
BSE 200
|
7,587
|
0.4
|
13.7
|
10.9
|
CNX Midcap
|
9,015
|
(0.1)
|
16.4
|
21.3
|
BSE Smallcap
|
10,157
|
0.6
|
19.9
|
21.5
|
Developed market
|
|
% change
|
|
Last close
|
1 day
|
3 mth
|
YTD
|
Dow Jones
|
10,341
|
(1.0)
|
4.0
|
(0.8)
|
Nasdaq
|
2,209
|
(1.1)
|
1.8
|
(2.7)
|
S&P 500
|
1,092
|
(1.1)
|
2.8
|
(2.1)
|
FTSE
|
5,408
|
(0.6)
|
7.6
|
(0.1)
|
CAC
|
3,644
|
(1.1)
|
7.8
|
(7.4)
|
DAX
|
6,118
|
(0.6)
|
4.2
|
2.7
|
Hang Seng*
|
21,142
|
(1.2)
|
8.5
|
(3.3)
|
Nikkei*
|
9,044
|
(2.0)
|
(5.2)
|
(14.2)
|
S&P/ASX200*
|
4,546
|
(0.6)
|
3.8
|
(6.7)
|
* Markets are open
|
|
|
|
|
Emerging market
|
|
% change
|
|
Last close
|
1 day
|
3 mth
|
YTD
|
Shanghai Comp
|
2,680
|
(0.7)
|
6.6
|
(18.2)
|
Brazil Bovespa
|
66,747
|
0.1
|
9.1
|
(2.7)
|
Mexico Bolsa
|
32,448
|
(0.9)
|
4.5
|
1.0
|
Kospi*
|
1,775
|
(0.7)
|
7.5
|
5.5
|
Micex
|
1,399
|
(0.7)
|
7.5
|
2.1
|
Taiwan*
|
7,846
|
(0.5)
|
9.7
|
(4.2)
|
Straits*
|
3,007
|
(1.0)
|
9.5
|
3.8
|
* Markets are open
|
|
|
|
|
Institutional activity
|
|
(Rs cr)
|
Cash
|
F&O
|
MTD
|
YTD
|
FIIs
|
1,040
|
1,348
|
10,647
|
58,549
|
MFs
|
354
|
-
|
(2,818)
|
(15,168)
|
FIIs Prov.
|
(20)
|
|
|
|
MFs Prov.
|
441
|
|
|
|
Commodities
|
|
% change
|
|
Last close
|
1 day
|
3 mth
|
YTD
|
Crude (US$/bbl)
|
73.7
|
(0.5)
|
2.4
|
(7.1)
|
Gold (US$/oz)
|
1,257
|
0.1
|
1.6
|
14.6
|
Copper (US$/mt)
|
7,614
|
(1.0)
|
25.5
|
3.7
|
Aluminium (US$/mt)
|
2,137
|
(1.3)
|
16.4
|
(2.8)
|
Zinc (US$/mt)
|
2,160
|
(0.3)
|
35.3
|
(14.6)
|
Advance/Decline stocks
|
|
|
|
|
(Nos)
|
A
|
B
|
S
|
Total
|
Adv
|
99
|
1,112
|
236
|
1,664
|
Dec
|
99
|
834
|
171
|
1,282
|
Unch
|
4
|
81
|
19
|
127
|
A/D ratio (x)*
|
1.0
|
1.3
|
1.4
|
1.3
|
*A/D excluding Unch
|
|
|
|
|
Trade value
|
|
|
(Rs cr)
|
|
% chg
|
Cash NSE
|
15,245
|
2.4
|
Cash BSE
|
5,260
|
4.3
|
Total Cash
|
20,505
|
2.9
|
Delivery (%)
|
43.1
|
-
|
Derivatives
|
97,739
|
(14.6)
|
Currency
|
|
% change
|
|
Last close
|
1 day
|
3 mth
|
YTD
|
Rs/US$
|
46.84
|
0.6
|
0.5
|
(0.7)
|
Rs/EUR
|
58.97
|
(0.5)
|
(4.9)
|
13.0
|
US$/GBP
|
1.54
|
0.1
|
6.3
|
(4.9)
|
US$/EUR
|
1.27
|
0.1
|
6.0
|
(11.4)
|
Yen/US$
|
83.66
|
(0.2)
|
9.3
|
11.2
|
Bond market
|
|
|
|
Last Close (%)
|
Bps chg
|
10yr Gsec
|
7.94
|
(0.05)
|
Call rate
|
5.25
|
0.75
|
|
|
|
|
|
|
|
|