Nifty opened with a gap up of 28 points near 5500 and soon took out the resistance of 5505 and made a new high of 5528. But from there on it has been a one way slide to the lows of 5454. The probable rollback of restrictions on the foreign
exchange outflows by RBI cheered the markets momentarily. The markets retreated from the lows to 5520 but failed to make a new high for the day and drifted lower. The weakness in the banks is the main cause of concern. The bank nifty is under performing the nifty by a great extent. The nifty is up on the back of metal, pharma, and IT stocks. The IT index made a new 52 week high. The upper target of the falling channel is at 5600 and it remains valid as long as nifty trades above 5350 is intact.
The support for nifty is at 5435-5406-5356 and the resistance lies at 5516-5563-5605. Nifty August Future has been trading at 9-10 points discount to the
spot. The implied volatility on the Nifty August Options of ATM strike calls were
at 20.74 and for puts were at 30.41. India VIX closed at 26.38. PCR for Nifty
based on open interest was at 1.14 and PCR for the day based on volumes was at
1.19 for the market.
Cash
Market:
FII 2251.05 - 2858.48 = (607.43) Cr.
DII 1472.37 - 1062.38 = 409.99 Cr.
FII
Derivatives Market:
| In cr. | buy | sell | Net |
| INDEX FUTURES | 4576.63 | 5540.40 | -963.77 |
| INDEX OPTIONS | 26723.89 | 27633.69 | -909.81 |
| STOCK FUTURES | 6514.94 | 5944.41 | 570.54 |
| STOCK OPTIONS | 875.71 | 889.37 | -13.66 |
Corporate
Action:
| Ex-Date | Company | Purpose |
| 27-Aug-13 | Kothari Sugars And Chemicals Limited | Annual General Meeting |
| 27-Aug-13 | Malwa Cotton Spg. Mills Limited | Annual General Meeting |
| 27-Aug-13 | Nath Seeds Limited | Annual General Meeting |
Stocks
In News:**
Lok Sabha passes Food Security Bill
MSCI review impact being witnessed on key stocks:
-Weightage cut - ICICI Bank , Axis Bank , Lupin , Adani Enterprises
-Only addition - M&M Financial Services
-Weight increase - Hero MotoCorp
-MSCI is effective August 30
IDFC
-MSCI: IDFC removed from Standard, Large Cap Indices
-MSCI: IDFC removed from indices due to cut in foreign holding limit
-Context: Board approved cut in IDFC's FII limit to 54 percent from 74 percent
Sesa Goa (Ex-Date for amalgamation)
-Will be included in the Sensex today & will replace Sterlite Industries
-Sterlite to seize to trade
-Post merger company’s weight will increase in the Nifty & FTSE
NSEL Investor Forum
-Writes to SEBI to take action against Financial Technologies (FTIL) and suspend trading in FTIL
-Asks SEBI to take action against promoters & directors of FTIL
National Spot Exchange (NSEL) files complaint with investigation authorities against five defaulting members
-NSEL on verge of another default, collects just Rs 12 crore: Reports
Competition Commission of India (CCI)
-Has resolved issues related to power projects
-Discussed premium rescheduling of highway public-private-partnership (PPP) projects
-Cabinet to take a call on premium rescheduling of highway projects
-Considered 36 infrastructre projects; investment seen at Rs 1.9 lakh crore
-All ministries to clear projects within 60 days
-18 fuel supply agreements (FSAs) to be signed by September 6
-7 power units to ink FSAs with Coal India by September 7
Department Of Industrial Policy & Promotion (DIPP) notifies FDI cap hike in telecom
DIPP says:
-Foreign direct investment (FDI) up to 49 percent in telecom allowed under automatic route
-FDI beyond 49 percent in telecom allowed under Foreign Investment Promotion Board (FIPB) route
-FIPB nod subject to fulfillment of licensing terms & security terms
-Licensing, security conditions to be notified by Department of Telecom
HPCL -To operate Vizag refinery at 60 percent capacity for about 10 days: Reuters
-Won't buy fuel from spot market to make up for cut in throughput: Reuters
Govt: Reuters
-July fuel sales down 1.9 percent at 12.7 mt (Y-o-Y)
-July diesel sales down 6.6 percent; petrol sales up 7.1 percent (Y-o-Y)
Other stocks and sectors that are in news today:-Despite PM push, FIPB not to take up Mylan deal today: FE
-Saudi Aramco eyes 30 percent in ONGC Petro Additions Ltd (OPaL): ET
-CX partners in final talks to buy Future Ventures ' 28.3 percent stake in BIBA for Rs 300 crore: ET
-Shangri-La, Phoenix Mills scraps management deal: DNA
-Monsoon Session of parliament extended till September 6
India eyes FDI boost in roads from China: CNBC-TV18 exclusive
Govt sources say
-India, China likely to sign memorandum of understanding (MoU) on roads sector
-MoU likely to be signed in October-end during PM's visit
Alert: PM slated to visit China in October-end
-MoU to concentrate on fresh FDI into roads from China
-Roads Ministry awaiting approval of MoU from prime minister's office (PMO)
-MoU for facilitating loans from Exim banks
-FDI inflows in roads sector still low; China keen
-Will draw up list for FDI in roads from China
-Areas in Northeast, J&K would be in negative list
Alert: India eyes up to USD 10 billion in roads sector by 2015
MSCI review impact being witnessed on key stocks:
-Weightage cut - ICICI Bank , Axis Bank , Lupin , Adani Enterprises
-Only addition - M&M Financial Services
-Weight increase - Hero MotoCorp
-MSCI is effective August 30
IDFC
-MSCI: IDFC removed from Standard, Large Cap Indices
-MSCI: IDFC removed from indices due to cut in foreign holding limit
-Context: Board approved cut in IDFC's FII limit to 54 percent from 74 percent
Sesa Goa (Ex-Date for amalgamation)
-Will be included in the Sensex today & will replace Sterlite Industries
-Sterlite to seize to trade
-Post merger company’s weight will increase in the Nifty & FTSE
NSEL Investor Forum
-Writes to SEBI to take action against Financial Technologies (FTIL) and suspend trading in FTIL
-Asks SEBI to take action against promoters & directors of FTIL
National Spot Exchange (NSEL) files complaint with investigation authorities against five defaulting members
-NSEL on verge of another default, collects just Rs 12 crore: Reports
Competition Commission of India (CCI)
-Has resolved issues related to power projects
-Discussed premium rescheduling of highway public-private-partnership (PPP) projects
-Cabinet to take a call on premium rescheduling of highway projects
-Considered 36 infrastructre projects; investment seen at Rs 1.9 lakh crore
-All ministries to clear projects within 60 days
-18 fuel supply agreements (FSAs) to be signed by September 6
-7 power units to ink FSAs with Coal India by September 7
Department Of Industrial Policy & Promotion (DIPP) notifies FDI cap hike in telecom
DIPP says:
-Foreign direct investment (FDI) up to 49 percent in telecom allowed under automatic route
-FDI beyond 49 percent in telecom allowed under Foreign Investment Promotion Board (FIPB) route
-FIPB nod subject to fulfillment of licensing terms & security terms
-Licensing, security conditions to be notified by Department of Telecom
HPCL -To operate Vizag refinery at 60 percent capacity for about 10 days: Reuters
-Won't buy fuel from spot market to make up for cut in throughput: Reuters
Govt: Reuters
-July fuel sales down 1.9 percent at 12.7 mt (Y-o-Y)
-July diesel sales down 6.6 percent; petrol sales up 7.1 percent (Y-o-Y)
Other stocks and sectors that are in news today:-Despite PM push, FIPB not to take up Mylan deal today: FE
-Saudi Aramco eyes 30 percent in ONGC Petro Additions Ltd (OPaL): ET
-CX partners in final talks to buy Future Ventures ' 28.3 percent stake in BIBA for Rs 300 crore: ET
-Shangri-La, Phoenix Mills scraps management deal: DNA
-Monsoon Session of parliament extended till September 6
India eyes FDI boost in roads from China: CNBC-TV18 exclusive
Govt sources say
-India, China likely to sign memorandum of understanding (MoU) on roads sector
-MoU likely to be signed in October-end during PM's visit
Alert: PM slated to visit China in October-end
-MoU to concentrate on fresh FDI into roads from China
-Roads Ministry awaiting approval of MoU from prime minister's office (PMO)
-MoU for facilitating loans from Exim banks
-FDI inflows in roads sector still low; China keen
-Will draw up list for FDI in roads from China
-Areas in Northeast, J&K would be in negative list
Alert: India eyes up to USD 10 billion in roads sector by 2015
Stocks
in Ban Period:
HDIL
Source:**moneycontrol.com , nseindia.com
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