Geojit BNP Paribas market report

Nifty BSE | NSE 09/02/12 Are Mutual Funds betting on Nifty?

Geojit BNP Paribas has come out with its market report.

The markets had opened on a positive note tracking Asian cues and continued the uptrend whole morning but witnessed some profit booking in the second part of the day to finally close for the day in green but off the day's low and high. The volatility factor was there the whole day being the previous day of the expiry. The negative cue was the investors concern over the money raised by corporates by selling shares. Reliance Industries continued its upward journey as it reopened near to 900 petrol pumps in the country. Giving support from the sectoral front were the banking and FMCG. Realty however remained weak today. Stock specifically, Atlanta , Mastek, Abhishek Industries, Punjab Chemicals etc made good gains.

However Satyam and Matyas Infra lost ground. In the second part of the day the cues from the European markets were good and even then the markets couldn't remain at highs and finally came to a close with Sensex up 0.4% and Nifty up 0.35%. The Nifty rollover figure was also decent and it was around 59%. The policy initiations are going to attract foreign investment in India at a time when dollar is under pressure and this may get tremendous response from institutional investors. India is in need of more capital for its infrastructure development programmes. On the sectoral front the major gainers were FMCG up 1.44%, Oil up 1.09%, PSU up 0.7% and Bankex up 0.51% while those on the losers' side were Realty down 2.93%, Healthcare down 0.49%, Consumer Durable down 0.12% and Technology down 0.03%. On Nifty the major gainers were BPCL up 6.44%, GAIL up 4.23%, Hero Honda up 2.51% and ITC up 1.95% while those on the losers' side were DLF down 3.26%, Suzlon down 1.89%, Unitech down 1.75% and Reliance Capital up 1.74%.

The market breadth was negative; about 1,354 shares advanced while 1,545 shares declined on the BSE. Nearly 534 shares remained unchanged. Top percentage gainers - Samyak International and Hilton Metal shot up 20% each. Atlanta, Abhishek Corp, Amco India and Mastek were up 14.5-19%. Punjab Chemical rose 10.73%. In the midcap space, United Phosphorous, Sintex India, Kirloskar Oil, KGN Industries and Mcleod Russel were up 5-6% while Motherson Sumi, Indiabulls Real, OnMobile Global, Tech Mahindra and HDIL fell 4.5-7%. Tomorrow is the day of November F&O expiry and so we may see Nifty witnessing resistance at 5145 and 5163 while support is there at 5080 and 5053.

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To read the full report click on the attachment