 "Sensex & Nifty post biggest loss in a series since August 2013")
November series was the worst for market in the last three years. The Nifty lost 7.5% or 650 points to close at 7,965.60, while the Sensex fell 7.4% or 2,056 points to close at 25,860 today.
The benchmark indices recorded their biggest fall in percentage terms as well as in absolute terms since August 2013, due to heavy overseas investor selling after government’s demonetization move and Donald Trump’s victory in US Presidential Elections.
"Nifty saw sharp cut in the November series as it fell close 7%, while Bank Nifty corrected in line with the Index. The news of demonetisation of the currency along with sharply rising US yields had a sharp impact on India equities. Through the month we saw FII selling in Index Futures and now their position is a net short compared to the Long position they were running since post Brexit in June," points out S Hariharan Head - Sales Trading Emkay Global.
"While the Roll levels started on a weak note they slightly inched up in today’s trading session there by reducing the potential downside volatility we could have witnessed. Market wide Rolls are in line while Nifty Rolls are slightly behind average. Going into next expiry, we saw roll levels in IT names higher compared to previous expiry and stocks have shown relative strength in this volatile phase. Given the tail wind from a weaker rupee we could witness outperformance from this sector going forward," he adds.
Nifty Smallcap index tanked 12.5%, while Nifty Midcap index fell 8.5% and Nifty Bank by 6.5% during the November series.
The benchmark indices recorded their biggest fall in percentage terms as well as in absolute terms since August 2013, due to heavy overseas investor selling after government’s demonetization move and Donald Trump’s victory in US Presidential Elections.
"Nifty saw sharp cut in the November series as it fell close 7%, while Bank Nifty corrected in line with the Index. The news of demonetisation of the currency along with sharply rising US yields had a sharp impact on India equities. Through the month we saw FII selling in Index Futures and now their position is a net short compared to the Long position they were running since post Brexit in June," points out S Hariharan Head - Sales Trading Emkay Global.
"While the Roll levels started on a weak note they slightly inched up in today’s trading session there by reducing the potential downside volatility we could have witnessed. Market wide Rolls are in line while Nifty Rolls are slightly behind average. Going into next expiry, we saw roll levels in IT names higher compared to previous expiry and stocks have shown relative strength in this volatile phase. Given the tail wind from a weaker rupee we could witness outperformance from this sector going forward," he adds.
Nifty Smallcap index tanked 12.5%, while Nifty Midcap index fell 8.5% and Nifty Bank by 6.5% during the November series.
Foreign institutional investors have been net sellers for the eight consecutive sessions after the government’s demonetization move.
In November series, the overseas investors have sold Rs 13,894 crore ($2.01 billion) worth of equity shares while mutual funds bought Rs 9,597 crore worth of shares, as per data available with NSDL. FIIs sold more than Rs 13,152 crore ($1.9 billion) worth of shares in eight days.
Dewan Housing Finance (DHFL), Housing Development Infrastructure (HDIL), PC Jeweller, India Cements, Mahindra & Mahindra Financial Services, Bajaj Finance, DLF and Jet Airways are top the 20 out of 175 stocks from F&O to have fallen more than 20% each in November series.
However, Hindalco Industries, Strides Shasun, Vedanta and Tech Mahindra buck the trend and rallied more than 10% each during the series.
In November series, the overseas investors have sold Rs 13,894 crore ($2.01 billion) worth of equity shares while mutual funds bought Rs 9,597 crore worth of shares, as per data available with NSDL. FIIs sold more than Rs 13,152 crore ($1.9 billion) worth of shares in eight days.
Dewan Housing Finance (DHFL), Housing Development Infrastructure (HDIL), PC Jeweller, India Cements, Mahindra & Mahindra Financial Services, Bajaj Finance, DLF and Jet Airways are top the 20 out of 175 stocks from F&O to have fallen more than 20% each in November series.
However, Hindalco Industries, Strides Shasun, Vedanta and Tech Mahindra buck the trend and rallied more than 10% each during the series.
| Company | 27/10/2016 | 24/11/2016 | % chg |
| JP Associates | 10.99 | 7.09 | -35.49 |
| DHFL | 324.65 | 228.00 | -29.77 |
| PC Jeweller | 510.80 | 369.75 | -27.61 |
| HDIL | 80.00 | 57.95 | -27.56 |
| India Cements | 154.40 | 114.25 | -26.00 |
| Bajaj Finance | 1105.15 | 821.45 | -25.67 |
| Rcom | 46.15 | 34.65 | -24.92 |
| M & M Fin. Serv. | 364.95 | 276.00 | -24.37 |
| Page Industries | 16399.35 | 12405.00 | -24.36 |
| DLF | 148.70 | 113.15 | -23.91 |
| Indiabulls Real | 87.15 | 66.65 | -23.52 |
| Jet Airways | 454.45 | 353.55 | -22.20 |
| Bharat Financial | 879.80 | 686.85 | -21.93 |
| Voltas | 381.55 | 299.10 | -21.61 |
| Jain Irrigation | 106.65 | 83.65 | -21.57 |
| L&T Fin.Holdings | 105.90 | 83.15 | -21.48 |
| Wockhardt | 853.50 | 672.25 | -21.24 |
| IRB Infra.Devl. | 235.20 | 186.20 | -20.83 |
| Shriram Trans. | 1092.60 | 870.55 | -20.32 |
| SRF | 1806.80 | 1444.75 | -20.04 |