The markets have taken a knock back approach after inflation numbers announcement, which are high by quite a percentage points as against earlier numbers of 6.68%. Today it touched a 7% mark, which is ahead of markets expecations of 6.52%. Capital Goods, technology, auto, banking, power and telecom stocks have hit hard. Market breadth is negaitve with ratio of 1:3 as 318 shares have advanced while 900 shares declined.
At 12.02 hrs IST, the Sensex was down 239.71 points or 1.51% at 15592.84, and the Nifty down 70.35 points or 1.47% at 4701.25. About 1267 shares have advanced, 1710 shares declined, and 94 shares are unchanged.
BHEL, HDFC, L&T and M&M were top losing counters while gainers - Ranbaxy, HUL, Tata Steel and Hero Honda gainers.
Finally, inflation has hit 7% mark today for the week ended March 22 as against 6.68% in the previous week. Vegetable prices went up 4.9%, primary articles WPI up 1.8%, minerals WPI up 38.2% and metallic minerals WPI up 42.8%.
Midcap and small cap stocks have slipped further. Reliance Petro, BHEl, Tulsi Extrusion and Reliance Industries were most active counters.
Market cues:
FIIs net sell $5 mn in equity on Apr 2
MFs net sell Rs 128 cr in equity on Apr 2
NSE F&O Open Int up Rs 1,173 cr at Rs 52,414 cr
Reports suggest govt weighs price cap on key items to curb inflation
F&O cues:
Futures Open Interest up by Rs 193 crore and Options Open Interest up by Rs 980 crore
Nifty Futures shed 5 lakh shares in Open Interest; at 13-point premium
Nifty Open Interest Put-Call ratio at 1.26 Vs 1.25
Nifty Puts add 10.8 lakh shares in Open Interest
Nifty Calls add 7.7 lakh shares in Open Interest
Nifty 4700 Put adds 2.5 lakh shares in Open Interest
Nifty 4400 Put adds 2.1 lakh shares in Open Interest
Nifty 5000 Call adds 2.2 lakh shares in Open Interest
Nifty 4800 Call adds 1.5 lakh shares in Open Interest
Stock Futures add 1 cr shares in Open Interest
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