NSE Bulk Deals to Watch - Apr 11 2008

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
11-APR-2008,GDL,Gateway Distriparks Limit,SWISS FINANCE CORPORATION (MAURITIUS) LIMITED,BUY,849685,101.10,-
11-APR-2008,GLOBALVECT,Global Vectra Helicorp Li,ASTUTE COMMODITIES & DERIVATIVES Pvt Ltd,BUY,80075,101.04,-
11-APR-2008,GLOBALVECT,Global Vectra Helicorp Li,NAMAN SECURITIES & FINANCE PVT LTD,BUY,71881,100.33,-
11-APR-2008,IBSEC,Indiabulls Securities Lim,DIRECT INVESTMENTS LIMITED,BUY,1900000,102.47,-
11-APR-2008,MADHAV,Madhav Marbles and Granit,V AND U CAPLEASE PVT LTD,BUY,69134,61.48,-
11-APR-2008,MADHAV,Madhav Marbles and Granit,VOLGA INTERNATIONAL LTD,BUY,137325,57.88,-
11-APR-2008,ORBITCORP,Orbit Corporation Limited,EVERLONE TRADING PVT. LTD.,BUY,200000,430.58,-
11-APR-2008,ORCHIDCHEM,Orchid Chemicals Ltd.,GENUINE STOCK BROKERS PVT LTD,BUY,679649,236.61,-
11-APR-2008,ORCHIDCHEM,Orchid Chemicals Ltd.,LATIN MANHARLAL SECURITIES PVT. LTD.,BUY,358426,242.63,-
11-APR-2008,ORCHIDCHEM,Orchid Chemicals Ltd.,PRASHANT JAYANTILAL PATEL,BUY,1362869,243.33,-
11-APR-2008,ORCHIDCHEM,Orchid Chemicals Ltd.,SOLREX PHARMACEUTICALS COMPANY,BUY,1497939,246.51,-
11-APR-2008,PNC,Pritish Nandy Comm. Ltd.,CHARUSHEELA HANMANTRAO SABALE,BUY,1000000,45.01,-
11-APR-2008,SANGAMIND,Sangam (India) Ltd.,SWISS FINANCE CORPORATION (MAURITIUS) LIMITED,BUY,746571,29.05,-
11-APR-2008,SITASHREE,Sita Shree Food Products,AMBIT SECURITIES BROKING PVT. LTD.,BUY,415128,40.89,-
11-APR-2008,SITASHREE,Sita Shree Food Products,ASSET ALLIANCE SECURITIES PVT. LTD.,BUY,159620,40.16,-
11-APR-2008,SITASHREE,Sita Shree Food Products,DEVANG MAHENDRA SHAH,BUY,164535,40.41,-
11-APR-2008,SITASHREE,Sita Shree Food Products,NISSAR BROTHERS,BUY,252579,40.10,-
11-APR-2008,SITASHREE,Sita Shree Food Products,PRASHANT JAYANTILAL PATEL,BUY,116928,41.89,-
11-APR-2008,SITASHREE,Sita Shree Food Products,R.M. SHARE TRADING PVT LTD,BUY,178105,39.40,-
11-APR-2008,SITASHREE,Sita Shree Food Products,RACHANA S BAJAJ,BUY,125049,42.31,-
11-APR-2008,SITASHREE,Sita Shree Food Products,RUPESH KIRIT DALAL,BUY,208508,39.97,-
11-APR-2008,SITASHREE,Sita Shree Food Products,SACHIN GUPTA,BUY,196181,39.80,-
11-APR-2008,SITASHREE,Sita Shree Food Products,SANJAY BHANWARLAL JAIN,BUY,167301,41.43,-
11-APR-2008,SITASHREE,Sita Shree Food Products,TRANSGLOBAL SECURITIES LTD.,BUY,388730,40.57,-
11-APR-2008,GDL,Gateway Distriparks Limit,ICICI BANK LIMITED (INVESTMENTS),SELL,849685,101.10,-
11-APR-2008,GLOBALVECT,Global Vectra Helicorp Li,ASTUTE COMMODITIES & DERIVATIVES Pvt Ltd,SELL,77073,101.13,-
11-APR-2008,GLOBALVECT,Global Vectra Helicorp Li,NAMAN SECURITIES & FINANCE PVT LTD,SELL,57883,98.13,-
11-APR-2008,MADHAV,Madhav Marbles and Granit,JAIN ORNA PVT LED,SELL,55620,57.03,-
11-APR-2008,MADHAV,Madhav Marbles and Granit,V AND U CAPLEASE PVT LTD,SELL,57037,60.27,-
11-APR-2008,MADHAV,Madhav Marbles and Granit,VOLGA INTERNATIONAL LTD,SELL,111132,60.94,-
11-APR-2008,ORBITCORP,Orbit Corporation Limited,MONEY MATTERS ADVISORY SERVICES LTD ,SELL,200000,430.53,-
11-APR-2008,ORCHIDCHEM,Orchid Chemicals Ltd.,GENUINE STOCK BROKERS PVT LTD,SELL,668649,236.58,-
11-APR-2008,ORCHIDCHEM,Orchid Chemicals Ltd.,LATIN MANHARLAL SECURITIES PVT. LTD.,SELL,358426,242.80,-
11-APR-2008,ORCHIDCHEM,Orchid Chemicals Ltd.,PRASHANT JAYANTILAL PATEL,SELL,1362869,243.12,-
11-APR-2008,PNC,Pritish Nandy Comm. Ltd.,PRAVIN DEVENDRA JAIN,SELL,1000000,45.00,-
11-APR-2008,SANGAMIND,Sangam (India) Ltd.,ICICI BANK LIMITED (INVESTMENTS),SELL,746571,29.05,-
11-APR-2008,SITASHREE,Sita Shree Food Products,AMBIT SECURITIES BROKING PVT. LTD.,SELL,415128,40.97,-
11-APR-2008,SITASHREE,Sita Shree Food Products,ASSET ALLIANCE SECURITIES PVT. LTD.,SELL,159620,40.24,-
11-APR-2008,SITASHREE,Sita Shree Food Products,DEVANG MAHENDRA SHAH,SELL,164535,40.95,-
11-APR-2008,SITASHREE,Sita Shree Food Products,NISSAR BROTHERS,SELL,252579,40.16,-
11-APR-2008,SITASHREE,Sita Shree Food Products,PRASHANT JAYANTILAL PATEL,SELL,116928,41.60,-
11-APR-2008,SITASHREE,Sita Shree Food Products,R.M. SHARE TRADING PVT LTD,SELL,178105,39.36,-
11-APR-2008,SITASHREE,Sita Shree Food Products,RACHANA S BAJAJ,SELL,125049,42.27,-
11-APR-2008,SITASHREE,Sita Shree Food Products,RUPESH KIRIT DALAL,SELL,208508,40.10,-
11-APR-2008,SITASHREE,Sita Shree Food Products,SACHIN GUPTA,SELL,196181,39.81,-
11-APR-2008,SITASHREE,Sita Shree Food Products,SANJAY BHANWARLAL JAIN,SELL,167301,41.46,-
11-APR-2008,SITASHREE,Sita Shree Food Products,TRANSGLOBAL SECURITIES LTD.,SELL,388730,40.67,-

BSE Bulk Deals to Watch - Apr 11 2008

Deal Date Scrip Code Scrip Name Client Name Deal Type * Quantity Price **
11/4/2008 531223 ANJANI SYNTH SAMIDHA MERCANTILES PVT LTD B 71000 26.15
11/4/2008 513729 ARO GRANIT I USHA DEVI SARAOGI B 50000 89.60
11/4/2008 513729 ARO GRANIT I PUSHPA DEVI SARAOGI B 43023 89.60
11/4/2008 513729 ARO GRANIT I MERIDIAN INVESTMENTS S 93023 89.60
11/4/2008 532946 BANG MARUTI SECURITIES LTD B 125335 163.50
11/4/2008 590059 BIHAR TUBES SHIVALIK SECURITIES LIMITED B 50000 131.95
11/4/2008 590059 BIHAR TUBES GALA FINANCE AND INVESTMENT B 45000 132.00
11/4/2008 590059 BIHAR TUBES RAGHVIR SINGH GARG B 64430 129.16
11/4/2008 590059 BIHAR TUBES RAGHVIR SINGH GARG S 50387 129.82
11/4/2008 531682 CAT TECHNOL SARFARAZKHAN SARVARKHAN PATHAN B 696467 6.51
11/4/2008 531682 CAT TECHNOL SARFARAZKHAN SARVARKHAN PATHAN S 635494 6.53
11/4/2008 532363 COMP-U-LEARN RAJESHWARI CHERLOPALLE S 80000 15.19
11/4/2008 532271 CYBERMAT INF BASMATI SECURITIES PVT LTD B 1227192 7.26
11/4/2008 532271 CYBERMAT INF JMP SECURITIES PVT. LTD. B 1078510 7.22
11/4/2008 532271 CYBERMAT INF SARFARAZKHAN SARVARKHAN PATHAN B 1883025 7.15
11/4/2008 532271 CYBERMAT INF BASMATI SECURITIES PVT LTD S 786980 7.31
11/4/2008 532271 CYBERMAT INF JMP SECURITIES PVT. LTD. S 1131211 7.27
11/4/2008 532271 CYBERMAT INF SARFARAZKHAN SARVARKHAN PATHAN S 1870602 7.11
11/4/2008 517973 DMC INTER PARAMOUNT ENTERPRISES B 20000 12.93
11/4/2008 511668 FACT ENTERP MERRILL LYNCH CAPITAL MARKETS ESPANA S.A. S.V. S 46050 244.70
11/4/2008 532022 FILAT FASH JITENDRA HARIVANSH JOSHI B 34000 34.25
11/4/2008 532022 FILAT FASH NAMDEO H MORE S 34000 34.25
11/4/2008 532773 GLOBAL VECT ASTUTE COMMODITIES AND DERIVATIVES PVT LTD B 90802 100.40
11/4/2008 532773 GLOBAL VECT ASTUTE COMMODITIES AND DERIVATIVES PVT LTD S 80109 100.20
11/4/2008 532388 INDIAN OVERS TCI CYPRUS HOLDING LIMITED B 8595763 137.00
11/4/2008 532388 INDIAN OVERS JPMSL COPTHALL MAURITIUS INVT LTD S 8595763 137.00
11/4/2008 532283 KASHYAP TEC OM EDUCATION IT PVT. LTD. S 3963879 2.13
11/4/2008 515093 MADHAV MAR G SPJSTOCK B 49500 60.79
11/4/2008 515093 MADHAV MAR G SPJSTOCK S 49500 59.15
11/4/2008 532078 MONNET INDUS MONNET INTERNATIONAL LIMITED S 39910 20.95
11/4/2008 524372 ORCHID CHEM SOLREX PHARMACEUTICALS COMPANY B 675000 245.89
11/4/2008 532461 PUNJAB NATBK TCI CYPRUS HOLDING LIMITED B 3540123 530.00
11/4/2008 532461 PUNJAB NATBK JPMSL COPTHALL MAURITIUS INVT LTD S 3540123 530.00
11/4/2008 532793 SHREE ASHTA POOJA EQUIRESEARCH PVT LTD B 50692 385.01
11/4/2008 532793 SHREE ASHTA MAVI INVESTMENT FUND LTD S 100000 385.00
11/4/2008 532961 SITA SHREE ASSET ALLIANCE SEC PVT LTD B 199179 40.09
11/4/2008 532961 SITA SHREE R M SHARES TRADING PVT LTD B 169158 39.38
11/4/2008 532961 SITA SHREE DEVANG M SHAH B 251145 40.56
11/4/2008 532961 SITA SHREE N D NISSAR B 196457 40.43
11/4/2008 532961 SITA SHREE DEEPAK S CHHEDA B 289538 40.84
11/4/2008 532961 SITA SHREE AMIT M GALA B 201818 40.90
11/4/2008 532961 SITA SHREE ASSET ALLIANCE SEC PVT LTD S 199179 40.07
11/4/2008 532961 SITA SHREE R M SHARES TRADING PVT LTD S 169158 39.42
11/4/2008 532961 SITA SHREE DEVANG M SHAH S 251145 40.25
11/4/2008 532961 SITA SHREE N D NISSAR S 196457 40.52
11/4/2008 532961 SITA SHREE DEEPAK S CHHEDA S 289538 40.97
11/4/2008 532961 SITA SHREE AMIT M GALA S 201818 41.00
11/4/2008 504375 SOFTBPO GLOB VIRAL PRAFUL JHAVERI S 800 127.60
11/4/2008 519228 TEMPT.FOODS LANDMARK CAPITAL MARKETS LIMITED B 150000 175.00
11/4/2008 519228 TEMPT.FOODS ELARA INDIA OPPORTUNITIES FUND B 800000 175.00
11/4/2008 519228 TEMPT.FOODS PAMAS HOLDINGS PVT LTD S 160000 175.00
11/4/2008 519228 TEMPT.FOODS SANDEEP KUMAR P JAIN S 200000 175.00
11/4/2008 519228 TEMPT.FOODS SAMTA JAIN S 200000 175.01
11/4/2008 519228 TEMPT.FOODS EVERSIGHT TRADECOMM PVT LTD S 300000 175.02
11/4/2008 532401 VIJAYA BANK TCI CYPRUS HOLDING LIMITED B 13091690 49.85
11/4/2008 532401 VIJAYA BANK JPMSL COPTHALL MAURITIUS INVT LTD S 13091690 49.85

Infosys guidance to dictate trend

The key event to watch out for in the coming week is the IT bellwether Infosys Technologies' Q4 March 2008 earnings on 15 April 2008. A depreciation of the rupee against the dollar is likely to drive good results from the IT sector on a sequential basis in Q4 March 2008 over Q3 December 2007, though the focus here is on guidance for the year ending March 2009.

Volumes may take a hit in the forthcoming week due to holidays. The market remains closed on Monday, 14 April 2008 on account of Dr. Babasaheb Ambedkar Jayanti and on Friday, 18 April 2008 on account of Mahavir Jayanti.

Q4 March 2008 results of India Inc. will dictate the near term trend on the bourses. Analysts will be closely watching what the company managements have to say about the outlook for the year ending March 2009 (FY 2009). Analysts will also scrutinize disclosures that companies may make regarding foreign exchange derivatives products that they have bought on the advice of their bankers. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt.

Morgan Stanley expects 23% growth in net earnings of 104 out of 108 firms in its Indian coverage universe in Q4 March 2008 over Q4 March 2007.

Prospects of further outflow by foreign funds to offset losses incurred by them in the US sub-prime mortgage market continue to weight on the market sentiment. In the calendar year so far, FIIs sold shares worth a net Rs 11455.60 crore (till 9 April 2008), to offset their huge losses in the US sub-prime mortgage market. Mutual funds were net sellers to the tune of Rs 379.80 crore in the month of April 2008 (till 9 April 2008).

The wholesale price index rose 7.41% in 12 months to 29 March 2008, accelerating from the previous week's annual rise of 7%, government data showed on Friday, 11 April 2008, sparking concerns that the Reserve Bank of India may tighten monetary policy. The rate is the highest reading since 13 November 2004 when it was 7.68%. The annual inflation rate was 5.94% during the corresponding week of the previous year.

India's industrial output (IIP) rose 8.6% in February 2008 from a year earlier, rising from the previous month's upwardly revised 5.8% growth, data showed on Friday, 11 April 2008

Market posts decent gains ahead of earnings season

The market posted decent gains in the week ahead of earnings season. IT bellwether Infosys Technologies kickstarts the earnings reporting season on 15 April 2008. BSE Mid-Cap and BSE small-Cap indices outperformed the market during the week.

The 30-share BSE Sensex rose 464.52 points or 3.03% at 15,807.64 in the week ended Friday, 11 April 2008. The S&P CNX Nifty gained 130.80 points or 2.81% to 4777.80 in the week.

The BSE Mid-Cap index advanced 260.37 points or 4.15% to 6,523.22 and the BSE Small-Cap index gained 366.44 points or 4.74% to 8,081.43. Both these indices outperformed the Sensex.

Trading for the week started on an upbeat note with the BSE 30-share Sensex advancing 413.96 points or 2.7% at 15,757.08 on 7 April 2008. The broader based S&P CNX Nifty was up 114.2 points or 2.46% at 4,761.20 on that day. IT, banking, metal and FMCG stocks led the rally.

Market edged lower on 8 April 2008 tracking weak Asian and European markets. The 30-share BSE Sensex slipped 169.46 points or 1.08% at 15,587.62 and the broader based S&P CNX Nifty was down 51.55 points or 1.08% at 4,709.65.

BSE Sensex gained 202.89 points or 1.3% at 15,790.51 on 9 April 2008. The broader based S&P CNX Nifty was up 37.4 points or 0.79% at 4,747.05 on that day.

The 30-share BSE Sensex fell 95.41 points or 0.60% at 15,695.10 on 10 April 2008. The CNX S&P Nifty fell 14.05 points or 0.30% at 4733 on that day

Market edged higher on 11 April 2008, boosted by improved industrial production data and firm Asian and European markets. The 30-share BSE Sensex rose 112.54 points or 0.72% at 15,807.64 and the S&P CNX Nifty gained 44.80 points or 0.95% at 4,777.80

India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries (RIL) rose 9.81% to Rs 2550.05 in the week. As per reports, RIL is planning to enter into the rig manufacturing business besides investing $2.5 billion to enter into petrocoke gasification.

IT pivotals were mixed ahead of IT bellwether Infosys Technologies’ results, which will be declared on 15 April 2008. Infosys (down 4.08% to Rs 1422.45) and Wipro (down 2.24% to Rs 406.30), declined. India’s fourth largest software services exporter Satyam Computer Services rose 1.87% to Rs 433.20.

India’s largest IT services exporter by sales Tata Consultancy Services rose 4.37% to Rs 908.15. The company has signed a new multi-year contract with Chrysler LLC to provide a comprehensive portfolio of IT services.

India’s second largest telecom services provider by sales Reliance Communications slipped 1.38% to Rs 493.25 in the week. It has reportedly formed a joint venture with a local firm to launch GSM mobile services in Sri Lanka by this year.

India's largest state-run oil exploration firm in terms of revenue ONGC shed 0.56% to Rs 1,000.25 in the week. ONGC Videsh (OVL), the overseas arm of Oil and Natural Gas Corporations (ONGC), will reportedly sign an agreement on 8 April 2008 to take a 40% stake in the San Cristobal oilfield in Venezuela. OVL will make a total investment of $355.7 million comprising signature bonus of $173.1 million for the stake, the reports added.

National Thermal Power Corporation (NTPC), the country’s largest pubilc sector power generation company in terms of sales slipped 1.71% to Rs 186.50 in the week. The company posted 4% rise in provisional net profit to Rs 7,129 crore on 13% rise in provisional net sales to Rs 37,004 crore in FY 2008 over FY 2007.

India’s largest truckmaker by sales Tata Motors rose 1.36% to Rs 622 in the week on reports it had raised the price of trucks and buses by an average of 3.5 % from 1 April 2008 to offset higher raw material costs.

India's largest engineering and construction firm by sales Larsen & Toubro advanced 3.26% to Rs 2774 after it bagged four orders worth Rs 1687 crore for water supply projects, sinter plant and cold roll mill and a coal handling plant.

India's largest commercial bank State Bank of India rose 3.90% to Rs 1667.90 in the week. It has reportedly shortlisted three potential partners, including Insurance Australia Group, for a general insurance venture. The other two shortlisted partners are a German firm and a US-based firm, the reports suggested.

Sita Shree Food Products settled at Rs 43.90 on BSE, a premium of 46.33% over the initial public offer (IPO) price of Rs 30, on Monday, 7 April 2008. The food processing company’s product portfolio consists of wheat flour, maida, rawa, daliya, suji, chana dal etc.

The wholesale price index rose 7.41% in 12 months to 29 March 2008, accelerating from the previous week's annual rise of 7%, government data showed on Friday, 11 April 2008. The rate is the highest reading since 13 November 2004 when it was 7.68%. The annual inflation rate was 5.94% during the corresponding week of the previous year.

India's industrial output (IIP) rose 8.6% in February 2008 from a year earlier, rising from the previous month's upwardly revised 5.8% growth, data showed on Friday, 11 April 2008.

In the calendar year so far, FIIs sold shares worth a net Rs 11455.60 crore (till 9 April 2008), to offset their huge losses in the US sub-prime mortgage market.

Mutual funds were net sellers to the tune of Rs 379.80 crore in the month of April 2008 (till 9 April 2008).

Commerce Minister Kamal Nath announced an export target of $200 billion for the current fiscal. The Minister said that exports for the 2007-08 fiscal exceeded $155 billion. Exports saw a cumulative annual growth rate of 23% and accounted for 1.5% of the world's trade.

Capital goods stocks, RIL lead 113 points Sensex surge

The market posted decent gains in the week passed by with Sensex gaining 464 points ahead of the earnings season. Rally in index heavyweight Reliance Industries led rally on the bourses today. Improved Index of Industrial Production (IIP) data aided the surge. Firm Asian and European markets also boosted the sentiment. However, Infosys slipped ahead its Q4 March 2008 results due on 15 April 2008.

Power and capital goods stocks rose. IT stocks were mixed. Banking stocks rose. Bharat Heavy Electricals and Larsen & Toubro were major gainers from Sensex pack. Ambuja Cements and Infosys were major losers from Sensex pack. The market breadth was strong.

Asian stocks rose today, 11 April 2008, after Banc of America Securities upgraded the US semiconductor sector and Wal-Mart Stores Inc, the world's largest retailer, raised its profit forecast. Key benchmark indices in Hong Kong, Japan, China, South Korea, Singapore, and Taiwan were up by between 0.61% to 2.92%. European markets which opened after Indian markets were firm. France’s CAC 40, Germany’s DAX and UK’s FTSE 100 rose in between 0.69% to 1.15%.

India's industrial output (IIP) rose 8.6% in February 2008 from a year earlier, rising from the previous month's upwardly revised 5.8% growth, data showed today.

The wholesale price index rose 7.41% in 12 months to 29 March 2008, accelerating from the previous week's annual rise of 7%, government data showed today, 11 April 2008. The data was announced at about 10:45 IST. The rate is the highest reading since 13 November 2004 when it was 7.68%. The annual inflation rate was 5.94% during the corresponding week of the previous year.

The 30-share BSE Sensex rose 112.54 points or 0.72% at 15,807.64. The Sensex gained 262.14 points at day’s high of 15,957.24, hit in early afternoon trade. At the day’s low of 15673.67 Sensex lost 21.43 points in mid-morning trade.

The S&P CNX Nifty was up 44.80 points or 0.95% at 4777.80. Nifty April 2008 futures were at 4773, at a discount of 4.80 points as compared to spot closing of 4777.80.

The BSE clocked a turnover of Rs 5556 crore today, 11 April 2008 as compared to turnover of Rs 5,519.49 crore on 10 April 2008. The NSE's futures & options (F&O) segment turnover was Rs 41,003.92 crore, which was higher than Rs 33,689.60 crore on Thursday, 10 April 2008.

The market breadth was strong: on BSE, 1637 stocks gained, 1050 stocks declined and 62 stocks were unchanged.

The BSE Mid-Cap index was up 0.68% at 6,23.22 and the BSE Small-Cap index was up 0.63% at 8,081.43.

As per the provisional figures on NSE, the foreign institutional investors (FII) sold shares worth Rs 173 crore today 11 April 2008 and domestic funds bought shares worth Rs 326.04 crore.

BSE Capital Goods index (up 2.86% to 13,267.51), BSE Oil & Gas index (up 2.82% to 11,028.75), BSE Power index (up 2.08% to 3,164.39), BSE PSU index (up 1.61% to 7,444.41), BSE Metal index (up 0.8% to 13,966.38), outperformed Sensex.

BSE Consumer Durables index (up 0.61% to 4,003.21), BSE Auto index (up 0.54% to 4,427.06), BSE HealthCare index (down 0.08% to 3,919.27), BSE Realty index (down 0.29% to 7,195.57), BSE IT index (down 0.47% to 3,659.38), BSE Bankex (down 0.64% to 7,900.97), and BSE FMCG index (down 1.29% to 2,319.36) underperformed Sensex.

India’s largest private sector firm by market capitalization and oil refiner Reliance Industries rose 3.34% at Rs 2,550.05. Reportedly, Reliance is in talks with several oil majors to sell up to 10% in its deep-water D6 block off India's east coast.

IT stocks were mixed on the penultimate trading session ahead of Infosys’ annual guidance on Tuesday 15 April 2008. Infosys, India’s second largest IT exporter by sales, declined 2.13% to Rs 1,422.45. Tata Consultancy Services (up 0.82% to Rs 908.15) and Satyam Computer Services (up 2.3% to Rs 433.20) rose.

Banking stocks were mixed after higher inflation data. India’s largest private sector bank by operating income ICICI Bank declined 1.56% to Rs 788.45. It came off from its high of Rs 822. However, State Bank of India (up 0.36% to Rs 1,667.90) and HDFC Bank (up 0.17% to Rs 1,327.80) edged higher.

Capital goods stocks rose. Larsen & Toubro (up 3.57% to Rs 2,774), Bharat Heavy Electricals (up 3.67% to Rs 1,830) and Suzlon Energy (up 0.22% to Rs 290.35) edged higher.

Power stocks rose. Tata Power Company (up 3.95% to Rs 1,247.05) and Reliance Power (up 0.82% to Rs 361.35), NTPC (up 0.27% to Rs 186.50) edged higher. India's second largest power utility by revenue Reliance Energy rose 2.22% to Rs 1,281.15 after the company said on 10 April 2008 it has spent about a third of the Rs 800 crore ($200 million) allocated for buying back shares from the stock market.

Oil & Gas stocks rose. Cairn India (up 4.38% to Rs 252.75), Gail India (up 4.24% to Rs 445), Reliance Petroleum (up 3.68% to Rs 181.95) edged higher.

Hindalco Industries (up 1.67% to Rs 176.35), Reliance Communications (up 1.83% to Rs 493.25), Bharti Airtel (up 0.69% to Rs 804.20), Mahindra & Mahindra (up 1.31% to Rs 620.25) , Tata Steel (up 0.92% to Rs 692.20) edged higher from the Sensex pack.

Ranbaxy Laboratories (down 1.58% to Rs 443.55), Grasim Industries (down 0.78% to Rs 2,550), Hindustan Unilever (down 2.02% to Rs 235.15) , ITC (down 1.83% to Rs 204.15) and Ambuja Cements (down 3.61% to Rs 117.60), ACC (down 0.05% to Rs 813.20) edged lower from Sensex pack.

Reliance Petroleum clocked the highest volume of 1.8 crore shares on BSE. Vijaya Bank (1.37 crore shares), Sita Shree Food Products (1.24 crore shares), Orchid Chemicals & Pharmaceuticals (1.16 crore shares) and Reliance Natural Resources (1.04 crore shares) were other volume toppers in that order.

Reliance Industries clocked the highest turnover of Rs 361.20 crore on BSE. Reliance Petroleum (Rs 326.49 crore), Orchid Chemicals & Pharmaceuticals (Rs 280.26 crore), Reliance Capital (Rs 262.45 crore) and Larsen & Toubro (Rs 154.40 crore) were other turnover toppers in that order.

The near term trigger for the market is Q4 March 2008 results of India Inc. Analysts will be closely watching what the company managements have to say about the outlook for the year ending March 2009 (FY 2009). Analysts will also scrutinize disclosures that companies may make regarding foreign exchange derivatives products that they have bought on the advice of their bankers. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt. As per estimates by a domestic brokerage, the mark-to-market losses of corporate India under forex derivatives could be around $4 billion.

What added to the gloom regarding corporate earnings was lower-than-expected provisional results announced by Bharat Heavy Electrical (Bhel), India’s biggest power equipment firm by revenue, recently. Slower than expected execution rate and project specific delays could be the reasons for the lower-than-expected growth in the top line of Bhel.

Recent government action to rein in inflation has also added to uncertainty about outlook on corporate profits. The government has scrapped import duty on crude edible oil and banned the export of rice and pulses. It also surged steelmakers to cut prices of the alloy.

Prospects of further outflow by foreign funds to offset losses incurred by them in the US sub-prime mortgage market continue to weight on the market sentiment. In the calendar year so far, FIIs sold shares worth a net Rs 11455.60 crore (till 9 April 2008), to offset their huge losses in the US sub-prime mortgage market.

As far as domestic liquidity is concerned, inflows to equity mutual funds and unit linked insurance plans (with high weightage for equity) have slowed after the sharp setback on the bourses in the past two months. As per provisional data, domestic funds bought shares worth a net Rs 594.48 crore on Thursday, 10 April 2008.

US stocks rose on Thursday, 10 April 2008, after a brokerage upgrade of chip makers lifted technology stocks and on optimism that poor March sales may have been the low point for retailers this year. Dow Jones Industrial Average gained 54.72 points or 0.44% at 12,581.98. The tech-laden Nasdaq Composite index rose 29.58 points or 2,351.70.

Sensex dropped 95.41 points or 0.60% at 15,695.10 on Thursday, 10 April 2008, in choppy trade

Market ends steady

Taking a strong cue from the uptrend in global markets, the market witnessed sharp upward movement on the back of wide-spread buying support. Shrugging off the recent lacklustre trading trend, the Sensex opened 146 points above its previous close at 15,695 and made significant headway through the trading session. While the sentiment remained buoyant, the Sensex witnessed unprecedented rally towards the close and soared to an intra-day high of 15,957, up 289 points from the day's low. The Sensex finally ended 113 points higher at 15,808, while the Nifty advanced 45 points to close at 4,778.

The breadth of the market was positive. Of the 2,749 stocks traded on the BSE (Bombay Stock Exchange), 1,630 stocks advanced, 1,058 stocks declined and 61 stocks ended unchanged.

The BSE CG index led the sectoral indices pack, with gains of 2.86% followed by the BSE Oil & Gas index (up 2.82%), the BSE Power index (up 2.08%), the BSE PSU (up 1.61%), the BSE Metal index (up 0.80%), the BSE CD index (up 0.61%), the BSE Auto index (up 0.54%) and the BSE Teck index (up 0.17%).

Heavyweights BHEL flared up 3.67% at Rs1,829.95, Larsen & Toubro advanced 3.57% at Rs2,774, RIL zoomed 3.34% at Rs2,550.05, Satyam appreciated by 2.30% at Rs433.20, Reliance Energy scaled up 2.22% at Rs1,281 and Reliance Communications moved up 1.83% at Rs493.25. Hindalco, Mahindra & Mahindra, Tata Steel, TCS, Bharti Airtel, Jaiprakash Associates, SBI and NTPC closed in positive territory.

Capital goods stocks were in the limelight. Areva, Kirloskar Oil, Thermax, Punj Lloyd, BHEL, Siemens, ABB, Kirloskar Brother and Bharat Elect India advanced 1.6% each.

Oil stocks, too, were in demand following a slump in international crude oil prices. Aban Offshore, Cairn India, Gail India, Essar Oil, Reliance Petroleum, Reliance Industries, Bharat Petroleum, IOC, HPCL and RNRL shot up 0.50-6% each.

Sanket International at Rs12.50, Gujarat Foil at Rs133.10 and SEL Manufacturing Company at Rs416.55, touched new all-time highs on the BSE. While Jet Airways at Rs459.90 and Parle Software at Rs210 touched new all-time lows.

Elpro International at Rs712.80, Bharat Rasayan at Rs58.70, Bamspal Securities at Rs1.27, Mobile Telecom at Rs4.97, Standard India at Rs57.05 and Koa Tools at Rs1.11 hit the upper circuit on the BSE.

Over 1.80 crore RPL shares changed hands on the BSE followed by Vijaya Bank (1.37 crore shares), Sita Shree Food products (1.24 crore shares), Orchid Chemical (1.16 crore shares) and RNRL ( 1.04 crore shares).

Weekly Newsletter

After a positive yet volatile week, the bulls will hope to extend their gains in the coming week, which has just three trading sessions. Besides the global cues, a lot would depend on the numbers and guidance given by the software majors like Infosys. TCS and Wipro are among others who will announce their numbers. With inflation skyrocketing to a three-year high, expectations of a CRR hike is building up. The IIP numbers, which were a saving grace on Friday may not be able to keep sentiment intact if global weakness or disappointing numbers come in. The key indices will be less relevant as stock specific action takes centre-stage in the coming weeks.

Long Term Stock Picks

RPL

Bombay Dyeing

Sterlite Industries

RIL

Sesa Goa

59% Americans unhappy with stimulus package: Experian

When asked how consumers plan to use their rebate check from the federal economic stimulus package, 19% said they would pay off a debt, 16% said they would pay utility bills, and 10% said they would apply the proceeds toward home repairs.

An Experian Consumer Direct poll shows that more than half of Americans feel the recently signed US$152bn federal economic stimulus package is a short-term solution for the troubled U.S. economy, while 32% feel the package will cause more Americans to reinvest in the economy. The survey also gathered consumer attitudes regarding their 2007 federal income taxes.

When asked how consumers plan to use their rebate check from the federal economic stimulus package, 19% said they would pay off a debt, 16% said they would pay utility bills, and 10% said they would apply the proceeds toward home repairs.

"The current credit crunch has forced many consumers to reprioritize their spending habits and to more effectively manage their personal finances," said Ty Taylor, group president of Experian InteractiveSM. "This is evident in the survey results, as nearly 20% of Americans surveyed plan to use their federal economic stimulus package rebate to help pay off a debt."

In terms of 2007 income tax returns, 25% of respondents indicated they plan to use their refund to help pay off a debt, 15% said they would invest the proceeds, and 6% said they would use the refund for travel expenses.

"The results of the survey show that many Americans feel the economic stimulus package will have little impact on their personal financial situation," said Dr. David Algranati, director, Experian Research Services. "Sixty-two% of those surveyed said they or their family would receive little or no benefit from the stimulus package, and only 15% of consumers expect it to cause them to increase their spending."

Inflation jumps; industrial output rebounds

The Government and the RBI have their task cut out as far as containing prices is concerned. Inflation, based on the Wholesale Price Index (WPI), shot up further in the last week of March, putting more pressure on the Congress-led coalition regime ahead of several state elections and next year's general election. The point-to-point inflation jumped to 7.41% in the week ended March 29 from 7% in the previous week, the Commerce & Industry Ministry said. The inflation rate is now at the highest level since November 8, 2004. The annual inflation rate was 5.94% during the corresponding week of the previous year.

The WPI for All Commodities stood at 226.0 in the week under review as against 224.8 in the week ended March 22. The index for Primary Articles rose to 8.89% from 8.96% in the preceding week, while the index for Fuel & Power increased to 6.65% from 6.69%. The index for Manufactured Products surged to 7.12% from 6.31%. The index for Basic Metals, Alloys & Metal Products group rose by 3.8% to 290.8. The Government revised inflation for the week ended Feb. 2, 2008 to 4.74% from the preliminary forecast of 4.07%.

Meanwhile, there's some good news for the Indian economy. The industrial production rebounded sharply in February on the back of improved performance of the electricity sector and healthy growth in mining, even as manufacturing continued to struggle. The Index of Industrial Production (IIP) stood at 273.9 in February compared to 252.2 in the same month of last year, translating into a growth of 8.6% versus 11% in February 2007. The February IIP number is much better than the January one, when industrial output had grown by a revised 5.8%. The provisional figure for January was 5.3%. For the first 11 months of the current financial year, industrial production grew by 8.7% compared to 11.2% in the corresponding period of the previous fiscal year.

Mining output in February was 7.5%, the same as last year. Electricity output expanded by 9.8% as against just 3.3% in February 2007. Meanwhile, manufacturing growth slipped to 8.6% in February from 12% in February 2007. For the April-February 2007-08 period, the three sectors recorded a growth rate of 5.1%, 9.1% and 6.6% respectively versus 5%, 12.2% and 7.2% in the same period last year. The Capital Goods sector registered a growth rate of 10.4% in February as against just 2.1% in January and 18% a year ago. Consumer durables grew by 3.3% compared to a drop of 3.1% in January and 1.8% growth in February 2007.

Industrial output had shrunk in January, heightening concerns about the health of the Indian economy amid high interest rates, a stronger currency and a global slowdown. But, now with industrial production picking up in February, the Government can heave a sigh of relief and the Reserve Bank of India (RBI) can consider hiking the CRR to check inflation, which appears to be spiraling out of control.