The key Indian stock market indices hit three-week highs tracking positive global cues, with all sectors trading in the green led by consumer durables and banking stocks. The Sensex closed up 231 points at 20,256 and Nifty ended higher by 64 points at 6,060. The government extended a ban on pulses exports to rein in high prices. Stocks in sectors like metal and FMCG rose over 1%, while realty and oil & gas stocks declined.

1. Market Wrap Up
Dec 29, 2010
The key benchmark indices hit three-week highs in trade today tracking positive global cues. The regional counterparts, with an
exception of Taiwan Weighted settled in the green. Moreover, major European indices opened with significant traction while
the US index futures showed an up-tick in screen. Back home, all the sectors in the BSE sectoral space are trading in the green.
Consumer durables segment was the major gainer followed by banking, metal and fast moving consumer goods counters. The
S&P CNX Nifty and BSE Sensex were trading above the psychological 6,050 and 20,200 levels, respectively. Though the BSE Mid-
Cap index mirrored its larger counterpart, the Small-Cap index was outperforming the index with gain of over one percent. With
overall positivism in sight, key benchmarks settled near day’s high. The market breadth was positive.
The government has extended a ban on pulses exports until further order. The ban on exports is with an aim to rein in high
prices. The government had in June 2006 banned exports of pulses, which has a weightage of 0.72% in the wholesale price
index.
The BSE 30-share Sensex was up 231 points or +1.15% at 20256 while NSE 50-share Nifty ended the day at 6060 up 64 points or
+1.07%.
Stocks Performance Top 3 Sensex Gainers:
HUL (+3.5%),
Bank Stocks: IOC (-1.9%), HPCL (-1.6%), GAIL (-1.1%)
Bharti Airtel (+3.5%),
Bank stocks rose as some prominent banks paid higher advance tax in the third quarter,
Sterlite Ind. (+3.4%)
indicating good Q3 December 2010 result.
Top 3 Sensex Losers:
Metal Stocks: JSW Steel (-1.3%), Jindal Saw (-1.1%), SAIL (-0.4%)
Cipla (-0.8%),
High beta metal stocks rose on strong domestic demand.
Wipro (-0.7%),
F&O Update RCOM (-0.5%)
Nifty gained 64 points while VIX went down to 18.13% decreasing by 1.73% from Tuesday’s level. Top 3 Sectoral Gainers:
At the money NIFTY option IV were at level of 13 % on Call side and 13.40% on put side. PCR is at CD (+1.9%),
level of 1.48 which has increased from yesterday’s level while IV have decreased which indicate FMCG (+1.6%),
option writing rather than hedging activity. On put side Maximum OI is at 6000, 5900, 5800, METAL (+1.5%)
5700 level while 6000 added significant open interest today, signifying we would have good
support at 6000 level. Call side has maximum OI at 6100, we could see unwinding in almost all
Call strikes signaling bullish trend going forward. December NIFTY futures gained premium over
the spot increased to 20 points from yesterday’s 14 points. Low IV positions at the end of
Monthly closing of expiry is one of the best opportunities markets presents to an individual, so
that s/he, can buy out of money options.
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