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Indian Stock Market Round Up

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By Chris Johnson Dear Reader, Investors vote their approval and disapproval of the Fed by buying or selling stocks. So last week’s 25 bp cut to key interest rates seems to have disappointed, even though the writing of this outcome was clearly on the wall. It was interesting that the Fed announced a plan to...
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Indian Stock Market Round Up

Monday, 22 October 2007

SEBI's proposal to clamp down participatory notes to restrict foreign the inflows created havoc for the equity markets on Wednesday, 17 October, 2007. Trading was halted on that day after the market circuitwas triggered by a steep fall. The BSE Sensex ended this historic week lower by 859 points (4.7%) to close at 17560 whereas the Nifty was down by 213 points (3.9%) to close the week at 5215.
In week ending 19-Oct-07 almost all the sectoral indices closed in deep in the red except the BSE Consumer Durable Index which was up by 0.8%. Heavy sell off was witnessed in Reality Stocks (Reality Index down 8.3%) BSE FMCG (down 5.6%) and BSE PSU (down 5.3%).
We expect the downslide to continue if the Government implements the draft rules on offshore derivative instruments. SEBI is expected to give a final verdict on this issue on 25 October, 2007 which is also the F&O expiry day. We also recommend traders to be highly cautious ahead of the UPA-Left Meeting on the Indo-US nuclear deal. Apart from this crude oil has touched an all time high of almost $90 per barrel and Yen has hit nearly 115 vs the dollar. BSE Consumer Durables, Pharma and IT.

Energy Sector Shows Renewed Life (Without the Help of China!)

By Andrew Gordon The XLE ETF – which follows oil and gas companies, energy equipment makers and energy services companies – had a pretty good week. It was up over five percent. It passed...
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GPO Stands for Government Profit Office

By Andy CarpenterFirst, we find out that the U.S. government has lied for the past seven years about the security of U.S. airlines. Only one percent of all flights have sky marshals, not five...
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The markets had a very week closing sensex was down by 4% losing 859 points closing at 17560 levels. On the weekly charts sensex has formed a long Bear Candel after a long time which indicate a week strength in the market at the same time the short term momentum indicators are in oversold zones and we have see a bounce back at lower levels. Near month supports for the sensex are at 17300 16,800. while resistance will be at 17,850 and 18,330.

Fand O Cues for the Indian Stock Market

The Nifty Futures Annualised Volatility was up by 7% (week on week) at 44.28% whereas IV's of at the money Nifty options traded around 51% indicating weakness in the market to continue. The total Open Interest in the market stood at Rs. 951 bn where as the futures OI stood at Rs. 644 bn.
The stocks witnessing massive increase in volatilites were TATAPOWER, REL, EDUCOMP, STROPTICAL and SCI where as BAJAJHIND, RENUKA, NAGARFERT, ADLABSFILM and RNRL were on the flatter side.
The following week is expected to be highly volatile on lines of being an expiry week as well as on the event of major macro-economic factors.
Powergrid (Up by 16%), Yesbank (Volumes up by 92%), Havells (OI up by 54.83%) and IFLEX (OI down by 85% and volumes down by 93%
Source : ICICI Direct Research

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