Market trades volatile

It was a volatile session for the markets amid political turmoil during the day. Sensex went down 85 points at 14163, swings 425 points during the day. Nifty down 38 points at 4115 swings 150 points during the day.

CNX Midcap Index down 0.66%, BSE Small-cap Index down 1.25%. BSE Bank Index down 2.2%, BSE Oil & Gas Index down 1.7%. Index Losers; ONGC down 3%, RIL down 1.26%, SBI down 3%, ICICI Bank down 2.5%

NSE Advance Decline ratio was at 1:2. Total market turnover at Rs 72394.95 cr vs Rs 66667.54 cr on Wednesday

Currency movements

Yen depreciates by 82 bps at 116.9 (has hit an intra-day low of 117.13). Rupee appreciates by 17 bps at 40.96

F&O snapshot

Huge unwinding of positions was seen during the day. Nifty Futures end at par vs 15-20 points discount seen during the day. Nifty Futures add 14.1 lakh shares (was around 35 lakh shares during the day).

Unwinding of long positions seen in Non-index stocks/ Other mid-caps especially Fertiliser stocks. Unwinding of long positions was also seen in index stocks like SBI, RIL, GMR Infra. Fresh shorts was seen in Index stocks like ICICI Bank, Cipla.

Cairn and Nalco sees addition of long positions

Unwinding of long positions.

Fertiliser stocks: Chambal Fert, Nagarjuna Fert, Oswal Chem, Bongaigaon and GNFC

Non-index stocks:: IFCI, IDBI, Praj, Punj Lloyd, JSW Steel, RPL,

Other mid-caps: Neyveli Lignite , Essar Oil, GMR Infra, Bharat Forge, IDFC, Indian Hotel

Index Stocks: R Comm, REL, SBI, Tata Steel, and Wipro

Short covering:

Index Stocks: ITC, Satyam, Infosys, Tata Motors, SAIL
Non Index Stocks: India Infoline, Reliance Capital, Idea, Andhra Bank, Alok Ind

Fresh shorts

ICICI Bank: Down 2.6%, Adds 1 lakh shares
PNB: Down 2.2%, Adds 2.8 lakh shares in OI
Cipla: Down 4.5%, Adds 9.3 lakh shares in OI
VSNL: Down 1.9%, Adds 2.7 lakh shares in OI

Global markets

Taiwan up 2.8%, Hang Seng up 2.7%, Indonesia up 2.65%, Nikkei up 2.6%
Korea up 2.3%, Straits Times up 1.5%