Titan Industries

Titan Industries

Better trades for the day - Feb 1 2011

Commodity cues

US crude oil ended lower on Tuesday on some weak US economic data and a strengthening dollar.

Events for the day:

Import & Export data.

Monthly auto sales & cement dispatches figures.

Results: Ashok Leyland, Uco Bank, Satyam, RCF.

ICICI Bank, PNB, Havells, Mcleod Russel

ICICI Bank, PNB, Havells, Mcleod Russel

Daily News Roundup - Feb 1 2012

Parliament’s Public Accounts Committee has summoned at least seven executives of Reliance Industries Limited to give oral evidence on hydrocarbon production-sharing contracts. (BS)

The Department of Telecommunications has issued showcause notices to five private telecom players, including Bharti Airtel, Vodafone and Reliance Communications, for allegedly under-reporting revenue. (BS)

Granting interim relief to Satyam Computer, the Andhra Pradesh High Court has stayed the Income Tax department’s plea to encash a bank guarantee worth Rs6.17bn. (ET)

Triumphant Tuesday...Nifty ends near 5200

The Tuesday Phenomena continued to create magic for a fifth week in a row with the main Indian stock indices ending near day's high. Just when one thought that the Indian markets could crack further after tumbling on Monday comes another spectacular Tuesday rally. After opening on a positive note, the equity benchmarks accelerated in the afternoon, especially towards the close of trade.

The BSE Sensex ended at 17,193, up 330 points from the last close. It earlier touched a day's high of 17,234 and hit day's low of 16,965.

The Nifty settled at 5,199, up 112 points. It hit a day’s high of 5,215 and day’s low of 5,120.

Jan joy over?

Generally the theories we believe we call facts, and the facts we disbelieve we call theories. - Felix Cohen.

The January effect and the Tuesday wonders this month brought the much desired buying in most counters this year. But then today is another month and another day. The start is not looking all that bad though owing to a positive trend across Asia. The regional mood is sanguine after China’s official manufacturing PMI surprisingly increased in January vs. expectations of a drop.

More manufacturing PMI reports will be out later in the day from across the globe. The Indian market will react to the latest trade data apart from the monthly auto and cement volumes.

Markets may open in green

Markets are set to start the new month in the green tracking marginally higher Asian indices. Auto and cement shares will hog the limelight

Headlines for the day

Infosys to invest Rs600 cr in Indore facility

Oil PSUs cut ATF prices by over 3%

Fin Min unveils comparative sovereign ratings index

RBI to buy govt securities worth Rs10K cr

SBI, rivals seek funds from strapped govt

DoT issues notices to 5 telcos for under-reporting revenue