Nifty inches towards 5600; FIIs invest USD 4.5bn in 44 days
The BSE Sensex opened up 180 points on Friday, after indications eurozone officials would soon approve a long-awaited bailout for Greece boosted Asian markets. FIIs have invested nearly USD 4.5 billion in last 44 days. Buying was seen in realty, capital goods, power, consumer durables and banking stocks.
The Sensex was up 180 points or 0.99% at 18334.23, and the Nifty was up 54 points or 0.98% at 5575.95. About 924 shares advanced, 183 shares declined, and 2292 shares remain unchanged.
In the largecap space, Tata Motors, SBI, L&T, M&M, Reliance Power, NTPC, Reliance Infra, BHEL Coal India, Tata Steel and DLF were top gainers.
However, the top losers include Hero Motocorp, ITC and HUL.
Midcap Gems
Punjab & Sind, HDIL, Strides Arcolab, AstraZeneca, HT Media, Ramcoind, Nitesh Estates, KGN Enterprises, Mahindra Forging and IFB Industries were star performers in the midcap space.
Chart Check
The daily chart on NIFTY suggests that the NIFTY has immediate resistance at 5550. If it breaks 5550/5560 we could see the next key resistance levels of 5640 or even 5703. On the downs side, the NIFTY has found the support at 5460 and 5410 levels.
Buzzing Stocks
Finance ministry sources say they will not intervene on Jet Airways’ request seeking Rs 550 crore unsecured loans. Meanwhile, Kingfisher Airlines and Air India are scheduled to meet lenders on the reworked restructuring package.
The coal secretary has said that they are yet to work out coal import estimates, adding that the Prime Minister’s Office has assured Coal India of faster approvals. However, the company will not absorb prices of imported coal. Coal India was up close to 2%.
CNBC-TV18 learns valuations are at the heart of the latest dispute between Telenor and its Indian partner Unitech. Yesterday, Telenor said it’s looking for a new JV partner and sent Unitech a notice to recover its India investments. Unitech sources claim Telenor had offered to buy out its 32.75% stake, but at a very cheap price. Unitech is willing to exit but at the right price. Unitech was trading in green with minimal gains.
Allahabad Bank to consider a share issue on preferential basis to the government on February 22. The stocks surged 5% in the morning trade.
REC board has approved raising up to Rs 3,000 crores via tax free bonds.
Asian markets were trading higher with 0.5-1.5% gain. Yesterday the US markets rallied with the Dow and the Nasdaq hitting multi-year highs. Robust economic data and reports suggesting that the ECB would agree to exchange their Greek bonds for new ones boosted sentiment.
The Dow rose by about a percent, its highest closing level since May 2008. The Nasdaq logged its best gains since December, 2000. The S&P 500 meanwhile gained 1% finishing at its highest level in about nine months.
Rupee Outlook
The rupee was little changed early on Friday as dollar demand from importers offset the comfort from improved global risk appetite.
F&O cues:
Nifty PCR rose to 1.65 from 1.61
Total Put adds 26.5 lakh shares, call sheds 0.3 lakh shares
Nifty 5400 Put, 5300 Put and 5600 Call seeing highest Total OI
5400 Put; saw buying; adds 7.29 lakh (11.3%) shares in OI; prem up 9.6%
5600 Call; saw selling; adds 5.13 lakh (9%) shares in OI; prem down 19.7%
5500 Put; saw buying; adds 4.22 lakh (8%) shares in OI; prem up 9.1%
5600 Put; saw buying; adds 1.80 lakh (9.5%) shares in OI; prem up 10.3%
5500 Call; saw selling; adds 1.70 lakh (3.5%) shares in OI; prem down 13.4%
4900 Put; saw selling; adds 1.39 lakh (4.4%) shares in OI; prem down 19.2%
Stock futures OI adds 3.9 Cr shares in OI
Nifty future sheds 1.6 lakh shares in OI
Nifty Feb futures trading at 15.85% premium versus 20.6 premium to spot
India VIX closed at 23.33 up by 5.57%
