-
Indices at
29 month highs. Sensex gains 68 points.
- Higher
volumes, positive breadth as old economy stocks
rally.
-
Weekly
statistics
| Indices |
Open |
High |
Low |
Close |
Change |
| BSE
- 30 |
3798 |
3890 |
3722 |
3883 |
+ 68.45 |
| BSE
- 200 |
475 |
497 |
471 |
496 |
+ 21.26 |
| NSE
- 50 |
1196 |
1224 |
1164 |
1222 |
+ 26.90 |
| Dow
Jones |
9191 + 37 |
Nasdaq |
1644 (-) 72 |
FTSE |
4148 + 49
|
| Advances |
7539 |
Declines |
5968 |
Put
/ Call ratio - 10009 : 27867 |
| FII
Investments |
Rs +
417 Crs Aug 1 - 7 |
Domestic
Funds |
Rs +
104 Crs Aug 1 - 7 |
The value of
shares advancing was Rs. 16841 crores and the
value of shares declining was Rs. 10653 crores. This
indicates a broader buying bias. The total traded volume
on the BSE was Rs. 8120 Crores. The
total traded volume on the NSE was Rs. 19399 Crores.
The week saw a
consolidation of the earlier gains as the old economy stocks
surged ahead on heavier volumes. The weakness in the
overseas markets seemed not to have affected the domestic
sentiments. The traded volumes picked up and the downward
correction ended abruptly. The indices closed at 29 month
highs and the Rupee closed at 36 month highs on strong forex
inflows. The technology sector remained an under-performer and
participated in the upmove in a tailend fashion. PSU's, banks,
pharma, oil & gas, telecom and cement continued to be in
the limelight. The Sensex was boosted by ACC, Bajaj
Auto, BHEL, BSES, Castrol, Cipla, Colgate, Grasim, HCL Tech,
HDFC, Hind Lever, HPCL, Hindalco, ITC, Nestle, Ranbaxy,
Reliance, SBI, Telco and Tisco. The Sensex was
dragged down by Dr. Reddy, Glaxo, Gujarat Ambuja Cements, Hero
Honda, ICICI Bank, Infosys, L&T, MTNL, Satyam Computers
and Zee Telefilms. The rupee ended the week at 45.99
( + 00.16 ) levels against the US $.
| NSE
futures saturation list |
|
NSE
futures change in open intrest |
| HPCL |
64 % |
|
ACC |
493500 |
| IPCL |
86 % |
|
BHEL |
(-)
109200 |
| Maruti |
86 % |
|
BPCL |
(-)
176000 |
| Mastek |
94 % |
|
Digital
Global |
(-)
6800 |
| Nalco |
77 % |
|
HLL |
(-)
420000 |
| NIIT |
93 % |
|
HPCL |
(-)
609700 |
| Polaris |
97 % |
|
Infosys |
(-)
28900 |
| Satyam Computers |
72 % |
|
Reliance |
811200 |
| SCI |
87 % |
|
Satyam Comp |
387600 |
| Tata Power |
65 % |
|
SBI |
(-)
65000 |
| Telco |
67 % |
|
Telco |
184800 |
| Tisco |
76 % |
|
Tisco |
(-)
1198800
|
Note -
- *** ACC, BSES, HCL TECH,
ICICI BANK, &
SATYAM OPEN
INTREST UP BY 13%, 44%, 19%, 9%, &
9% RESPECTIVELY.
- *** BHEL,
HINDALCO, HLL,
HPCL, & SCI
OPEN INTREST
DOWN BY 9%,
9%, 8%,
11%, &
17% RESPECTIVELY.
- ** The outstanding positions
in the futures segment has crossed Rs 3600 crs
The markets
have shown tremendous resilience inspite of weakness in the
international markets. The FII investments have continued to
be positive, though the flow has stopped since Aug 06. The
traded volumes on the & 7 th and 8 th Aug has been lower
than the volumes traded on falling market days. That remains
our single largest concern. The technology counters are likely
to remain subdued as the Rupee continues to strengthen and
affect export earnings. The rising oil prices in the
international markets are another area of concern. It will be
the old economy which will power the upmove and amongst the
sectoral plays, we expect the PSU, oil & gas,
pharmaceuticals, cement, automobile and ancillary segments to
keep the markets bouyant. The upsides may see profit taking as
the markets are now making new highs every week and weaker
bulls may prefer to bail out of long positions. The overall
scenario is likely to remain positive.
The weekly bar
chart of the Nifty shows a rising bottoms and tops formation,
supported by the momentum oscillators. That lends credibility
to the upmove. The traded volumes have been robust and index
heavy-weights are firm, which shows buying by stronger hands.
The previous top of 1220 being surpassed, we expect the next
resistance to come at the 1252 levels and the support in the
near term to be at the 1180 levels.
Our outlook on
the Nifty is that of bullish optimism.
The markets
next week are likely to be exciting and investors having
worked out their blue print are likely to be deeply in the
money. Fresh positions must be initiated carefully and in
smaller volumes. For stock specific recommendations, please
refer to our special edition - " Flavours of the
week."
Standby for
fresh recommendations via SMS on a real - time
basis.
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is important ! Please click
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- Have a profitable day.
-
- Vijay
Bhambwani
The author is a Mumbai
based investment consultant and invites feedback at Vijay@BSPLindia.com
and (022) 23438482 / 23400345.
SEBI
disclosure - The author
has no positions in the stocks mentioned above.
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