Nifty opened gap down of 35 points to the level of 5833 and from there on drifted lower towards the support of 5770. Once the support tested it kept moving in the tight range of 5780-5800. It was the euphoria caused by European markets on the eve of bailout tranche of 8 Billion euroes to Greece, which to the market for the upward ride. The markets made high of 5833.85 and then closed with marginal loss of 56 points. Again the banks have been the weak sector and did not participate much in the up move.
In the nifty daily of 5th July I had written that,
"It is very important that banks start its participation if nifty has to move above the 5904 levels. The early signs are visible, but a confirmation would be necessary for a sustained up move past 5900."
I reiterate the same today as well. Bank nifty has to provide the momentum setup for nifty to breach past the 5900 resistance levels.
The support for nifty is at 5790-5765-5737 and the resistance lies at 5825-5865-5890. Nifty July Future has been trading at 17-18 points premium to the spot. The implied volatility on the Nifty July Options of ATM strike calls were at 17.91 and for puts were at 20.41. India VIX closed at 19.34. PCR for Nifty based on open interest was at 1.4 and PCR for the day based on volumes was at 1 for the market. There was a massive call writing and good amount of put unwinding seen in the 5800 strike today.
Cash Market:
FII 2117.95 - 2322.41 = (204.46) Cr.
DII 831.09 - 890.2 = (59.11) Cr.
FII Derivatives Market:
Corporate Actions:
Stocks In News:
SEBI (to curb rupee speculation)-Curtails position limits and increase margin requirements for currency derivatives
-Initial and extreme loss margins shall be increased by 100 percent
-Gross open position at client level across all contracts not to exceed 6 percent of total open interest (OI) or USD 10 million
-Gross open position for non-bank trading member shall not exceed 15 percent of total OI or USD 50 million
Maruti Suzuki sources
-Company shuts third shift at engine plant in Manesar
-Company shuts third shift at engine plant due to low demand
-Cuts production to align with demand
-Asks over 200 contract workers to go on indefinite leave
Alert - 1st large-scale downsizing by Maruti since Manesar violence
-Overall production at SPIL (Suzuki Powertrain India - wholly owned subsidiary) down 30 percent plus over last 2 months
Alert - Total capacity at SPIL at 3 lakh diesel engines annually
-Production in July far below installed capacity of plant
-'Market sentiment low; no option, but to ask some workers to go'
-May not meet 5 percent growth target as economic environment is challenging
Fresh questions over Jet Airways ' commercial pact with Etihad: Sources
-Questions on amended, restated commercial co-operation agreement
-Jet's plan to relocate operations and core function raises eyebrows
-Jet to relocate network and revenue management to Abu Dhabi
-Inventory control and hub to be relocated to Abu Dhabi
-Proposed relocation plan not consistent with Indian norms
-Co-operative board control with 19 foreign nationals nominated by Etihad
-No Jet nominees on co-operative board yet; all slots of Jet vacant
-Co-operative board and three groups to oversee all aspects of Jet business
-Govt fears operational control of Jet effectively with co-operative board
Educomp Solutions
-Plans long term debt restructuring
-Restructuring will help company to strengthen core business
-Debt restructuring to address asset liability mismatch
GRUH Finance Q1FY14 YoY
-Stable numbers, NII and PAT strong, but asset quality sees slight worsening QoQ
-Gross non-performing asset (GNPA) and provisions spiked up
-NII up 26 percent to Rs 67 crore vs Rs 53.3 crore
-PAT up 26 percent to Rs 33.77 crore vs Rs 27 crore
-Asset Quality worsens slightly QoQ
-GNPA at 0.46 percent vs 0.32 percent QoQ
-GNPA at Rs 26.3 crore vs Rs 29.7 crore YoY
-GNPA at 0.46 percent vs 0.6 percent YoY
Deccan Chronicle Holdings : CMP Rs 2.65
-CBI team conducts search at company’s office, MD's residence
-Team of 24 officers from Bangalore conduct search
-Search related to defaults of company to different banks, financial institutions
-No information on searches so far from CBI
Other stocks and sectors that are in news today:- Sundaram-Clayton 1.26 million shares IPP fully subscribed
- Alstom T&D India bags order worth Rs 200 crore from Bajaj Infra
- Kalindee Rail board meets on July 11 to consider raising fund via preferential issue
- Shasun Pharma board meets on July 13 to review operations of company
Stocks In Ban Period:
Nil
In the nifty daily of 5th July I had written that,
"It is very important that banks start its participation if nifty has to move above the 5904 levels. The early signs are visible, but a confirmation would be necessary for a sustained up move past 5900."
I reiterate the same today as well. Bank nifty has to provide the momentum setup for nifty to breach past the 5900 resistance levels.
The support for nifty is at 5790-5765-5737 and the resistance lies at 5825-5865-5890. Nifty July Future has been trading at 17-18 points premium to the spot. The implied volatility on the Nifty July Options of ATM strike calls were at 17.91 and for puts were at 20.41. India VIX closed at 19.34. PCR for Nifty based on open interest was at 1.4 and PCR for the day based on volumes was at 1 for the market. There was a massive call writing and good amount of put unwinding seen in the 5800 strike today.
Cash Market:
FII 2117.95 - 2322.41 = (204.46) Cr.
FII Derivatives Market:
| (IN Cr.) | Buy | Sell | Net |
| INDEX FUTURES | 1393.16 | 1839.65 | -446.49 |
| INDEX OPTIONS | 12656.71 | 13522.07 | -865.36 |
| STOCK FUTURES | 1638.35 | 1339.28 | 299.07 |
| STOCK OPTIONS | 1040.96 | 1162.86 | -121.90 |
Corporate Actions:
| Ex-Date | Company | Purpose |
| 09-Jul-13 | Sah Petroleums Limited | Bonus 23:19 |
| 09-Jul-13 | The Federal Bank Limited | Annual General Meeting/Dividend Rs 9/- Per Share |
| 09-Jul-13 | VST Industries Limited | Annual General Meeting / Dividend Rs.62.50 Per Share |
| 09-Jul-13 | Poly Medicure Limited | Bonus 1:1 |
| 09-Jul-13 | LIC Housing Finance Limited | Annual General Meeting / Final Dividend Rs.3.80/- Per Equity Share |
| 09-Jul-13 | Coromandel Engineering Company Limited | 65th Annual General Meeting |
| 09-Jul-13 | Orient Abrasives Limited | Annual General Meeting And Final Dividend Re.0.35 Per Share |
Stocks In News:
SEBI (to curb rupee speculation)-Curtails position limits and increase margin requirements for currency derivatives
-Initial and extreme loss margins shall be increased by 100 percent
-Gross open position at client level across all contracts not to exceed 6 percent of total open interest (OI) or USD 10 million
-Gross open position for non-bank trading member shall not exceed 15 percent of total OI or USD 50 million
Maruti Suzuki sources
-Company shuts third shift at engine plant in Manesar
-Company shuts third shift at engine plant due to low demand
-Cuts production to align with demand
-Asks over 200 contract workers to go on indefinite leave
Alert - 1st large-scale downsizing by Maruti since Manesar violence
-Overall production at SPIL (Suzuki Powertrain India - wholly owned subsidiary) down 30 percent plus over last 2 months
Alert - Total capacity at SPIL at 3 lakh diesel engines annually
-Production in July far below installed capacity of plant
-'Market sentiment low; no option, but to ask some workers to go'
-May not meet 5 percent growth target as economic environment is challenging
Fresh questions over Jet Airways ' commercial pact with Etihad: Sources
-Questions on amended, restated commercial co-operation agreement
-Jet's plan to relocate operations and core function raises eyebrows
-Jet to relocate network and revenue management to Abu Dhabi
-Inventory control and hub to be relocated to Abu Dhabi
-Proposed relocation plan not consistent with Indian norms
-Co-operative board control with 19 foreign nationals nominated by Etihad
-No Jet nominees on co-operative board yet; all slots of Jet vacant
-Co-operative board and three groups to oversee all aspects of Jet business
-Govt fears operational control of Jet effectively with co-operative board
Educomp Solutions
-Plans long term debt restructuring
-Restructuring will help company to strengthen core business
-Debt restructuring to address asset liability mismatch
GRUH Finance Q1FY14 YoY
-Stable numbers, NII and PAT strong, but asset quality sees slight worsening QoQ
-Gross non-performing asset (GNPA) and provisions spiked up
-NII up 26 percent to Rs 67 crore vs Rs 53.3 crore
-PAT up 26 percent to Rs 33.77 crore vs Rs 27 crore
-Asset Quality worsens slightly QoQ
-GNPA at 0.46 percent vs 0.32 percent QoQ
-GNPA at Rs 26.3 crore vs Rs 29.7 crore YoY
-GNPA at 0.46 percent vs 0.6 percent YoY
Deccan Chronicle Holdings : CMP Rs 2.65
-CBI team conducts search at company’s office, MD's residence
-Team of 24 officers from Bangalore conduct search
-Search related to defaults of company to different banks, financial institutions
-No information on searches so far from CBI
Other stocks and sectors that are in news today:- Sundaram-Clayton 1.26 million shares IPP fully subscribed
- Alstom T&D India bags order worth Rs 200 crore from Bajaj Infra
- Kalindee Rail board meets on July 11 to consider raising fund via preferential issue
- Shasun Pharma board meets on July 13 to review operations of company
Stocks In Ban Period:
Nil
No comments:
Post a Comment