Seems to be tumultuous time up ahead for mkts

Excerpts from Closing Bell on CNBC-TV18 Watch the full show » RELATED NEWS Left parties planning countrywide agitations against deal ALSO READ See what other experts are saying about markets See what FIIs are saying about the markets See what Udayan Mukherjee is saying about the markets Nifty BSE | NSE 25/05/12 Are Mutual Funds betting on Nifty? Other Stocks in this news IFCI | Larsen and Toubro | Oil and Natural Gas Corporation | Punj Lloyd | Reliance Industries | Suzlon Energy | Tata Power Company | Unitech | Union Bank of India | Yes Bank |

The nervousness and jitteriness in what's happening in New Delhi in terms of the UPA-Left stand off and Left stance has clearly impacted the market. Up until 1 o'clock it was one block solid chunk; it was almost up about 2.5% for the Sensex and the volatility that actually crept in. Look at the way we have fallen from the day's highs and that's a good 368 points sharp knock, that's come in to the Sensex. Similar, movements on the Nifty and finally gave up pretty much by the end of the day.

 

In the last hour of trading, it was down about a good percent for it and 4,114 is that way the index shut shop. And the reasons are clearly evident since Asia was doing absolutely well for itself. All those indices posted very handsome gains for the close. Europe opened very well for itself, so there was no reason to complain in terms of the global market movement. Even the broader market which completely held out all those indices were posting anywhere between about 1.5% to about 2% gains up until 1 o'clock or so with the smallcap index taking the sharpest knock. Even the Nifty junior, the very liquid index finally gave up pretty much of its gains, down about 59 points or so at close.

 

The advance-decline ratio is one yawning gap up until noon and it finally succumbed to the declines and finally closed by about 800 to the declining to now about 350 odd to the advances.

 

Predictably then it was the turnover, which actually got heavier because the market got very volatile towards the end. 56,000 on the futures and options side and a total of about almost 72,500 for itself.

 

Futures and options side was pretty much up until noon when the market hadn't got so volatile, it was all about stock futures but then post that when the market actually got volatile. It was all about the Nifty futures and that's how the rollover actually picked up 18% as already moved into the September series for itself. It was all about banking that actually it took on the chain.

 

All those heavyweights even the smaller ones like Yes Bank and Union Bank got loafed up pretty much. And all those heavyweights ONGC , Reliance , Suzlon all of those counters were fairly weak by the end of the day. Even the counters and pockets that were doing very well for example realty started off very well for itself, gave up pretty much most of its gains. DLF , GMR , Orbit , Unitech and the whole host of non-index stocks like Punj Lloyd , IFCI , JP Hydro . In fact the entire futures and options list you can sense finally gave up a loaf.  In fact Orbit also lost about 3.5%.

 

Fertilizers that was the darling and in fact the flavour of the past couple trading sessions, which started off very well for itself. This entire space was looking very buoyant and that completely reversed and finally gave up almost anywhere between 8-10% each for all those counters.

 

Nonetheless, the day was for cement. Holcim 's open offer on Ambuja and that finally gave up about 2% gain for that particular counter. It was this pocket that actually held out. Even smaller ones like India Cements and Prism Cements finally caught short in circuit all those counters. But then about the nuclear deal and that has been the key in today's trading session.

 

Watch out for these boys. Pick up all those counters for you. Areva T&D , L&T and Tata Power watch for these two counters. Because there is still a lot of uncertainty in terms of what may actually happen from that Indo-US nuke deal. So these counters close pretty flat for themselves but watch out for these three because they are going to be in focus for the next few days to come. For the markets though it seems like to be going to be tumultuous time up ahead.