Market Close: FNO keeps Investors jittery

FNO expiry saw good start but profit booking creeped in soon as movement in the indices was restricted within a narrow range. Investors remained cautious on the back of FNO expiry as the session passed indices felt the selling pressure as market ended down in red. There was support from the Asian Indices as they ended their day in Green while the European Indices are trading in Red. Global cues were mixed as Asian surged to end in green while Europe is trading in red. Large caps like Cipla, Reliance, SBI witnessed selling pressure but ZEE, Hero Honda were in favour. Selective Midcaps too traded up with good volumes.

Sensex ended down by 13 points at 13846.34. Weighing on the Sensex are losses in Cipla (253.25,-2 percent), RIL (1276.65,-1 percent), SBI (1236.05,-1 percent), TISCO (476.5,-1 percent) and Dr Reddys (799.55,-1 percent). Losses are restricted by gains in HDFC Bk (1079,+2 percent), Hero Honda (759.15,+2 percent), Guj Ambuja (143.55,+1 percent), TCS (1208.65,+1 percent) and ITC (177.65,+1 percent). topnew.gif (1104 bytes)

Zee Tele Films demerged its cable undertaking into Wire & Wireless India Limited (WWIL) and the regional and news broadcasting undertaking into Zee News Limited (ZNL). The company will also demerge its Direct Consumer business undertaking (primarily DTH business) into ASC Enterprises Ltd, to be renamed Dish TV India Ltd. While WWIL and ZNL would be listed on the stock exchanges by January 10, Dish TV India is likely to be available for trading from the end of January. DTH services of Zee reduced prices by 49% to Rs 1500 for installation and also reduced the monthly subscription rates too. We are positive on Zee and the stock traded up in this volatile market.

The UB Group has earmarked $500 mn to $1 bn for an overseas acquisition as part of its strategy to boost global and domestic spirit sales. The UB Group is gradually including premium vodka brands in its product portfolio. Wine is another niche segment it is eyeing as a growth driver. We are in talks with Australian and South African wine companies to import a range of premium wine. UB group is also keen to set up a manufacturing facility in eastern India. The Wine and Beer story remains intact and exciting. We have a postiive view here.

Technically Speaking: Sensex witnessed volatility on the back of expiry. Sensex trade in the range of 13941 to 14021 levels. However, Declines maneged to outnumber Advances. Market Turnover stood good at Rs3966 cr.

Good performance for the day. DTP had calls by Adonis on VoltAmp and Divis Lab which delivered fantastic gains. Delivery Delights by wow Adonis was geat with Sun Tv and Hinduja TMT both the calls worked good which were booked partially.