- Local equity markets ended lower due to increasing nuclear hazards from another explosion at the Fukushima nuclear plant in Japan, spreading risk aversion globally. - The BSE Sensex fell 271 points (-1.47%) and the NSE Nifty fell 81 points (-1.48%) as Asian and European stocks also declined on concerns about the situation in Japan. - Oil-related stocks rose as crude oil prices fell, while tyre stocks gained as rubber prices are expected to continue easing.

1. Market Wrap Up
Mar 15, 2011
Local equity markets ended lower weighed down by the increasing nuclear hazards in Japan, following another blast at the ill-fated
Fukushima nuclear plant that stretched a cloud of nervousness around the globe. Risk aversion clearly remained the main theme of the day
as the investor's dared not venture into fundamentally weak stock, however, some of strong stocks that were trading at lower levels also
failed to entice investor's attention. The benchmark indices did not once break out in green and remained firmly placed in the red territory
throughout the day. However, the softening of the crude oil prices and gain of Index heavyweight --Reliance Industries --provided ceiling
from further decline of Indian equity markets amidst bleak global equities. Miserable performance of Asian and European stocks also
weighed on somber inventor's sentiment. The broader indices mirroring their larger peers were clobbered out of shape with a cut of over 1
percent each. The market breadth with no surprise remained in the favour of declines.
On the global front, Asian shares ended lower as fears of a nuclear meltdown in Japan and rising tensions in the Middle East dampened
sentiment, while Japanese stocks continued its plunge and lost another 10.6 percent, posting the worst two-day losing streak since 1987, on
reports of rising radiation near Tokyo, suggesting any deterioration at a quake-hit nuclear plant could trigger more panic selling led by hedge
funds. European stocks slid for a fifth day on investor jitters as Japan faced potential catastrophe after a quake-crippled nuclear power plant
exploded and sent low levels of radiation toward Tokyo.
The BSE 30-share Sensex was down 271 points or -1.47% at 18168 while NSE 50-share Nifty ended the day at 5450 down 81 points or -
1.48%.
Stocks Performance Top Sensex Gainers:
Tyre Stocks: MRF (+2.0%), Apollo Tyres (+1.9%), Ceat (+1.4%) Reliance Ind (+1.8%),
Rubber prices are likely to continue to ease this week on lack of strong buying. Moreover, improved RCOM (+0.5%),
rubber supply in the major producing countries will weigh down the prices.
Top 3 Sensex Losers:
Oil related stocks: Chennai Petro (+2.1%), Castrol (+2.2%), GAIL (+4.5%), Coal India (+1.2%) JP Associate (-3.8%),
US crude futures were down $1.29 or 1.27% to $99.90 a barrel. Oil prices have come off 29-month highs Maruti Suzuki (-3.6%),
after a sharp recent rally triggered by unrest in oil rich Middle East and North Africa regions. India ONGC (-3.4%)
imports majority of its crude oil requirements.
F&O Update Top Sectoral Gainer:
OIL & GAS (+0.3%)
The benchmark Nifty lost 71 points. VIX went down to 23.3% increasing by 3.4% from Friday’s level. PCR
(open interest) for Option series is at 1.29 with substantial decrease in Put side and marginal increase in
Call side open interest. On put side Maximum OI is at 5400 strike level while 4900 strike added most open
interest today. We can expect 5400 Level to act as support in near term. March series Call side has
maximum OI at 5700 with 5700 strike call saw maximum OI addition today which indicates immediate
resistance at 5700. March NIFTY futures closed at 2 points premium over the spot. Post-budget, the
markets have show good momentum but a close above 50 week moving average (WMA) will indicate
trend reversal. Markets may remain extremely volatile and we advise investors to do fresh buying only if
the markets convincingly close above the 50WMA i.e. 18600 and 5600 respectively. On the other hand,
markets will continue to remain weak below 18000 and 5400 levels respectively.
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