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Thursday, August 28, 2008
BSE Bulk Deals to Watch - Aug 28 2008
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
28/8/2008 531190 A V COTTEX I PEGASUS STOCKS AND SHARES PVT LTD S 62825 13.32
28/8/2008 532212 ARCHIES LTD MBL AND COMPANY LIMITED B 44356 121.12
28/8/2008 532212 ARCHIES LTD MEENAL NITISH THAKUR B 50975 121.82
28/8/2008 532212 ARCHIES LTD YUVAK SHARE TRADING PVT LTD B 36808 125.07
28/8/2008 532212 ARCHIES LTD MBL AND COMPANY LIMITED S 44356 121.42
28/8/2008 532212 ARCHIES LTD MEENAL NITISH THAKUR S 50975 122.21
28/8/2008 532212 ARCHIES LTD YUVAK SHARE TRADING PVT LTD S 36408 125.50
28/8/2008 519485 ASIA IND NET ATUL NAGINBHAI CHAUHAN B 30362 14.61
28/8/2008 519485 ASIA IND NET ATUL NAGINBHAI CHAUHAN S 27111 15.16
28/8/2008 500023 ASIAN HOTELS MADUPALLI MOHANA GUPTA B 120000 452.00
28/8/2008 500023 ASIAN HOTELS PASSIONATE INVESTMENT MANAGEMENT PVT.LTD S 120000 452.00
28/8/2008 590059 BIHAR TUBES KINSFOLK INDUSTRIES PVT LTD B 131000 188.49
28/8/2008 590059 BIHAR TUBES SAROJINI FINANCE AND INVESTMENTS PVT LTD S 110000 188.50
28/8/2008 513059 G.S. AUTO RAJU GHANSHYAMDAS SHAH B 26022 94.69
28/8/2008 513059 G.S. AUTO PRABHUDAS LILLADHER PVT. LTD. B 60716 92.11
28/8/2008 513059 G.S. AUTO SHAKTI HOTELS INDIA PRIVATE LIMITED B 89519 90.75
28/8/2008 513059 G.S. AUTO YUVAK SHARE TRADING PVT LTD B 88066 91.15
28/8/2008 513059 G.S. AUTO RAJU GHANSHYAMDAS SHAH S 26573 92.11
28/8/2008 513059 G.S. AUTO ATUL SALUJA S 19000 91.52
28/8/2008 513059 G.S. AUTO PRABHUDAS LILLADHER PVT. LTD. S 60716 92.20
28/8/2008 513059 G.S. AUTO SHAKTI HOTELS INDIA PRIVATE LIMITED S 101341 90.89
28/8/2008 513059 G.S. AUTO SANGEETA PAREEKH S 50000 90.75
28/8/2008 513059 G.S. AUTO YUVAK SHARE TRADING PVT LTD S 89863 91.24
28/8/2008 531863 GEEKAY FINAN GOPALA PILLAI VIJAYAKUMAR B 99000 54.05
28/8/2008 531863 GEEKAY FINAN GOPALA PILLAI VIJAYAKUMAR S 50000 54.25
28/8/2008 531439 GOLDSTON TEC ANKIT RAJENDRA SANCHANIYA B 102500 100.91
28/8/2008 531439 GOLDSTON TEC YUVAK SHARE TRADING PVT LTD S 124644 101.90
28/8/2008 530655 GOOD LUCK ST BIHAR TUBES LTD B 154400 296.01
28/8/2008 531602 KOFF BR PICT DEEPAL CORPORATION S 26878 28.04
28/8/2008 512559 KOHINORFOODS KAMINI FINANCE AND INVESTMENT S 139500 119.87
28/8/2008 523704 MASTEK NALANDA INDIA FUND LIMITED B 1288020 361.00
28/8/2008 523704 MASTEK LB INDIA HOLDING CAYMAN II LIMITED S 1288020 361.00
28/8/2008 526721 NICCO PARK R SANJAY KUMAR JHUNJHUNWALA B 202168 50.93
28/8/2008 526721 NICCO PARK R INFORMATION SYNERGIES PRIVATE LIMITED S 202501 50.74
28/8/2008 533015 NUTEK INDIA EUREKA STOCK AND SHARE BROKING SERVICES LIMITED B 130443 187.68
28/8/2008 533015 NUTEK INDIA R M SHARES TRADING PVT LTD B 196473 186.61
28/8/2008 533015 NUTEK INDIA SAM GLOBAL SECURITIES LIMITED B 152204 183.92
28/8/2008 533015 NUTEK INDIA EUREKA STOCK AND SHARE BROKING SERVICES LIMITED S 130443 187.84
28/8/2008 533015 NUTEK INDIA R M SHARES TRADING PVT LTD S 196473 186.50
28/8/2008 533015 NUTEK INDIA SAM GLOBAL SECURITIES LIMITED S 152204 184.42
28/8/2008 531996 ODYSSEY CORP SURESHBHAI CHHOTALAL MODY HUF S 30000 30.55
28/8/2008 524636 S.S.ORGANICS P L BHARATHI B 111000 8.52
28/8/2008 526049 SHRILAKSHMI JYOTIKABEN MAHESHBHAI HADVANI B 82540 98.87
28/8/2008 526049 SHRILAKSHMI JYOTIKABEN MAHESHBHAI HADVANI S 88559 99.47
28/8/2008 532356 TRIVENI ENGI NALANDA INDIA FUND LIMITED B 3538716 95.70
28/8/2008 532356 TRIVENI ENGI LB INDIA HOLDINGS CAYMAN II LIMITED S 3538716 95.70
28/8/2008 532646 UNIPLY IND CHETAN R SHAH B 74626 11.07
28/8/2008 532765 USHER AGRO MANHARLAL NAROTTAMDAS SHAH B 225880 131.63
28/8/2008 532765 USHER AGRO MANHARLAL NAROTTAMDAS SHAH S 225880 133.07
28/8/2008 532360 VINTAGE CARD MBL AND COMPANY LIMITED B 6656 117.48
28/8/2008 532360 VINTAGE CARD VENKATESWARA RAO N B 3800 114.59
28/8/2008 532360 VINTAGE CARD S.M.NISSAR B 14096 116.90
28/8/2008 532360 VINTAGE CARD B K SHAH CO B 22111 118.69
28/8/2008 532360 VINTAGE CARD YUVAK SHARE TRADING PVT LTD B 37409 118.50
28/8/2008 532360 VINTAGE CARD MBL AND COMPANY LIMITED S 6656 115.49
28/8/2008 532360 VINTAGE CARD VENKATESWARA RAO N S 3800 115.87
28/8/2008 532360 VINTAGE CARD M VELUSAMY S 3000 118.96
28/8/2008 532360 VINTAGE CARD S.M.NISSAR S 14386 117.20
28/8/2008 532360 VINTAGE CARD B K SHAH CO S 22123 118.24
28/8/2008 532360 VINTAGE CARD YUVAK SHARE TRADING PVT LTD S 37385 117.40
28/8/2008 533011 VISHAL INFO MBL AND COMPANY LIMITED B 73762 287.32
28/8/2008 533011 VISHAL INFO EUREKA STOCK AND SHARE BROKING SERVICES LIMITED B 79811 289.28
28/8/2008 533011 VISHAL INFO MBL AND COMPANY LIMITED S 73762 287.38
28/8/2008 533011 VISHAL INFO EUREKA STOCK AND SHARE BROKING SERVICES LIMITED S 79811 289.39
28/8/2008 531249 WELL PACK PA USHADEVI SHAHRA B 128000 19.61
28/8/2008 531249 WELL PACK PA RAMESHBHAI V PARMAR S 27384 19.56
NSE Bulk Deals to Watch - Aug 28 2008
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
28-AUG-2008,ALOKTEXT,Alok Industries Limited,RATNABALI CAPITAL MARKETS LTD.,BUY,1045200,40.04,-
28-AUG-2008,ARCHIES,Archies Limited,ADROIT FINANCIAL SERVICES PVT LTD,BUY,41863,122.28,-
28-AUG-2008,ARCHIES,Archies Limited,DYNAMIC STCOK BROKING (I) PVT LTD,BUY,36202,123.07,-
28-AUG-2008,ARCHIES,Archies Limited,FIN BRAINS SECURITIES (INDIA) LTD.,BUY,84754,122.89,-
28-AUG-2008,ARCHIES,Archies Limited,MANSUKH SECURITIES & FINANCE LTD,BUY,76186,123.20,-
28-AUG-2008,ARCHIES,Archies Limited,MBL & COMPANY LTD.,BUY,116896,123.12,-
28-AUG-2008,ARCHIES,Archies Limited,MITHUN SECURITIES PVT. LTD.,BUY,62956,123.49,-
28-AUG-2008,ARCHIES,Archies Limited,RAJESH AJITKUMAR MINDA,BUY,36840,125.04,-
28-AUG-2008,ARCHIES,Archies Limited,SHRI BRIJ SECURITIES PVT.LTD.,BUY,83824,121.77,-
28-AUG-2008,ARCHIES,Archies Limited,YES INVESTMENTS VISHAL KISHORE BHATIA,BUY,52039,120.11,-
28-AUG-2008,ARCHIES,Archies Limited,YUVAK SHARE TRADING PVT LTD,BUY,54127,124.88,-
28-AUG-2008,BALRAMCHIN,Balrampur Chini Mills,DALMIA SECURITIES PVT LTD,BUY,749602,86.73,-
28-AUG-2008,GOLDTECH,Goldstone Tech Ltd.,YUVAK SHARE TRADING PVT LTD,BUY,170891,101.99,-
28-AUG-2008,NUTEK,Nu Tek India Limited,AMBIT SECURITIES BROKING PVT. LTD.,BUY,185586,187.49,-
28-AUG-2008,NUTEK,Nu Tek India Limited,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,BUY,247130,192.54,-
28-AUG-2008,NUTEK,Nu Tek India Limited,CHOKHANI SECURITIES LTD,BUY,99880,187.96,-
28-AUG-2008,NUTEK,Nu Tek India Limited,CPR CAPITAL SERVICES LTD.,BUY,180909,183.61,-
28-AUG-2008,NUTEK,Nu Tek India Limited,KAUSHIK SHAH SHARES & SECURITIES PVT LTD,BUY,177427,189.35,-
28-AUG-2008,NUTEK,Nu Tek India Limited,MANIPUT INVESTMENTS PVT LTD,BUY,118723,185.46,-
28-AUG-2008,NUTEK,Nu Tek India Limited,NAMAN SECURITIES & FINANCE PVT LTD,BUY,70257,195.45,-
28-AUG-2008,NUTEK,Nu Tek India Limited,R.M. SHARE TRADING PVT LTD,BUY,205642,186.85,-
28-AUG-2008,NUTEK,Nu Tek India Limited,SMC GLOBAL SECURITIES LTD.,BUY,96485,184.78,-
28-AUG-2008,NUTEK,Nu Tek India Limited,SUKETU VASANTLAL JARIWALA,BUY,85040,182.88,-
28-AUG-2008,NUTEK,Nu Tek India Limited,TRANSGLOBAL SECURITIES LTD.,BUY,245084,187.76,-
28-AUG-2008,NUTEK,Nu Tek India Limited,YUVAK SHARE TRADING PVT LTD,BUY,158038,186.05,-
28-AUG-2008,OCTAV,Octav Investments Limited,MANSUKH SECURITIES & FINANCE LTD,BUY,16128,60.28,-
28-AUG-2008,SASKEN,Sasken Commu Techno Ltd,ACADIAN EMERGING MARKETS PORTFOLIO,BUY,184261,147.14,-
28-AUG-2008,SASKEN,Sasken Commu Techno Ltd,ACADIAN EMERGING MARKETS PORTFOLIO,BUY,184261,147.14,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,ADROIT FINANCIAL SERVICES PVT LTD,BUY,23986,117.16,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,AGRAWAL POORAN MAL,BUY,3098,115.67,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,AJAY ASSET MANAGEMENT PRIVATE LIMITED,BUY,6299,115.45,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,ALOK MAHESHWARI,BUY,5501,118.43,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,AMBIT SECURITIES BROKING PVT. LTD.,BUY,8419,116.31,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,AMIT JAIN,BUY,4153,116.68,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,ANKIT AGARWAL,BUY,3247,114.48,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,ANKITA VISHAL SHAH,BUY,10472,119.75,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,ASHOK KUMAR CHUGH,BUY,3255,116.93,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,B K SHAH CO KETAN BHAILAL SHAH,BUY,32846,117.70,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,BALASUBRAMANIAN S,,BUY,5000,119.43,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,BANSILAL RATILAL THAKKAR,BUY,2823,116.92,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,BRONZE SECURITIES PVT. LTD.,BUY,8191,121.00,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,CAPITAL WIZARD STOCK BROKING PRIVATE LIMITED,BUY,42177,115.48,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,CONQUEST SECURITIES PRIVATE LTD,BUY,4000,114.47,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,CPR CAPITAL SERVICES LTD.,BUY,56696,115.90,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,DATTATRAY WAMAN DAWANE,BUY,1490,116.92,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,DEEPAK AHUJA,BUY,3000,117.78,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,DINDAYAL BIYANI STOCK BROKERS LTD,BUY,12184,118.66,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,DINESH MUNJAL,BUY,33310,114.62,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,DYNAMIC STCOK BROKING (I) PVT LTD,BUY,3813,115.42,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,FACTS SHARE & STOCK BROKING PVT LTD,BUY,2951,117.26,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,G RAMAKRISHNA,BUY,3000,115.61,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,GAGANDEEP NANDA,BUY,6638,114.43,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,GOINDI KAMINI,BUY,3000,122.05,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,HARBUX SINGH SIDHU,BUY,61146,114.44,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,HARVESTDEAL SECURITIES LTD,BUY,4528,113.83,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,JAGJIT SINGH,BUY,45548,116.07,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,K. K. FINSTOCK,BUY,3455,114.62,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,KIRAM GUPTA,BUY,4000,119.24,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,M VIJAIRAJ,BUY,3000,113.31,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,M.V.SHARE TRADERS (PROP)ARCHANA DEVI.,BUY,5984,115.41,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MAHESHWARI EQUITY SERVICES (P) LIMITED,BUY,3320,114.00,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MANIPUT INVESTMENTS PVT LTD,BUY,4858,118.20,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MANISH SHARMA,BUY,3500,114.07,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MANSUKH SECURITIES & FINANCE LTD,BUY,26814,116.21,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MBL & COMPANY LTD.,BUY,8243,116.17,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MITHUN KAUSHIK,BUY,8000,114.25,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MITHUN SECURITIES PVT. LTD.,BUY,11466,117.63,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MLB CAPITAL PVT LTD,BUY,8211,114.70,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MODEX INTERNATIONAL SECURITIES LIMITED,BUY,12760,116.11,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,N RAVI KUMAR,BUY,6003,116.95,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,NAMAN SECURITIES & FINANCE PVT LTD,BUY,23615,121.15,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,NARASIMHA REDDY SHOBHA,BUY,5000,113.64,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,NIKUNJ K SHAH,BUY,8897,121.64,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,OPG SECURITIES PVT. LTD.,BUY,7661,114.24,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,PAUL HERALD MANOHARAM GATHALA,BUY,3467,114.90,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,PAWAN KUMAR GUPTA,BUY,4666,116.55,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,PAWAN NATANI,BUY,2000,123.50,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,PRAGATI PAPER MILLS LTD,BUY,10059,117.97,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,PRIYASHA-MEVEN FINANCE LTD.,BUY,4539,116.38,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,R.R.CHOKHANI STK BRK PVT LTD,BUY,5589,117.84,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,RACHANA S BAJAJ,BUY,8005,116.66,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,RAGOTHAMA RAO R,BUY,3750,113.33,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,RAHUL DOSHI,BUY,12085,125.81,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,RAJIV SOBTI,BUY,12000,122.01,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,RAKESH NATWARLAL VORA,BUY,11455,118.49,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,RAO KATAKAM VENKATESH,BUY,3840,117.62,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,RAVI KUMAR,BUY,3100,117.16,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,S SRINIVAS,BUY,5820,115.62,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,SABADRA HARAKCHAND KACHARDAS,BUY,5500,115.85,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,SAJI MATHEW,BUY,6383,115.28,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,SAKHAMURI NAVEEN BABU,BUY,3100,115.31,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,SASI KUMAR,BUY,4000,124.75,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,SATYANARAYAN KABRA,BUY,3000,116.30,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,SETU SECURITIES LTD,BUY,2516,134.83,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,SHIJU OTTATHYCKAL ,BUY,4000,116.40,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,SVS SECURITIES PVT. LTD,BUY,3036,134.74,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,TAJINDERJIT SINGH,BUY,23422,116.91,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,THOMAS VERGHESE P V K PALOCCARAN,BUY,3518,112.63,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,TRANSGLOBAL SECURITIES LTD.,BUY,43101,117.02,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,URJA INVESTMENT PVT. LTD.,BUY,3326,120.75,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,VALI SHAIK MASTAN,BUY,3457,113.98,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,VIJIT ASSET MANAGEMENT PRIVATE LIMITED,BUY,6714,129.25,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,YUVAK SHARE TRADING PVT LTD,BUY,84404,120.92,-
28-AUG-2008,VITLINFO,Vishal Information Techno,AMBIT SECURITIES BROKING PVT. LTD.,BUY,104970,288.68,-
28-AUG-2008,VITLINFO,Vishal Information Techno,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,BUY,133247,288.40,-
28-AUG-2008,VITLINFO,Vishal Information Techno,MANAN P DALAL,BUY,90156,286.88,-
28-AUG-2008,VITLINFO,Vishal Information Techno,MANSUKH SECURITIES & FINANCE LTD,BUY,64414,287.56,-
28-AUG-2008,VITLINFO,Vishal Information Techno,MBL & COMPANY LTD.,BUY,77655,286.81,-
28-AUG-2008,ARCHIES,Archies Limited,ADROIT FINANCIAL SERVICES PVT LTD,SELL,41863,122.30,-
28-AUG-2008,ARCHIES,Archies Limited,DYNAMIC STCOK BROKING (I) PVT LTD,SELL,38552,123.16,-
28-AUG-2008,ARCHIES,Archies Limited,FIN BRAINS SECURITIES (INDIA) LTD.,SELL,84754,123.12,-
28-AUG-2008,ARCHIES,Archies Limited,MANSUKH SECURITIES & FINANCE LTD,SELL,76186,122.78,-
28-AUG-2008,ARCHIES,Archies Limited,MBL & COMPANY LTD.,SELL,116896,123.09,-
28-AUG-2008,ARCHIES,Archies Limited,MITHUN SECURITIES PVT. LTD.,SELL,62956,123.53,-
28-AUG-2008,ARCHIES,Archies Limited,RAJESH AJITKUMAR MINDA,SELL,36840,125.68,-
28-AUG-2008,ARCHIES,Archies Limited,SHRI BRIJ SECURITIES PVT.LTD.,SELL,83824,122.03,-
28-AUG-2008,ARCHIES,Archies Limited,YES INVESTMENTS VISHAL KISHORE BHATIA,SELL,52814,121.68,-
28-AUG-2008,ARCHIES,Archies Limited,YUVAK SHARE TRADING PVT LTD,SELL,54628,124.83,-
28-AUG-2008,BALRAMCHIN,Balrampur Chini Mills,DALMIA SECURITIES PVT LTD,SELL,1552880,86.90,-
28-AUG-2008,GOLDTECH,Goldstone Tech Ltd.,YUVAK SHARE TRADING PVT LTD,SELL,165738,101.96,-
28-AUG-2008,KOHINOOR,Kohinoor Foods Limited,KAMINI FINANCE AND INVESTMENT,SELL,133990,119.88,-
28-AUG-2008,NUTEK,Nu Tek India Limited,AMBIT SECURITIES BROKING PVT. LTD.,SELL,186586,187.85,-
28-AUG-2008,NUTEK,Nu Tek India Limited,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,SELL,247130,192.99,-
28-AUG-2008,NUTEK,Nu Tek India Limited,CHOKHANI SECURITIES LTD,SELL,99880,187.57,-
28-AUG-2008,NUTEK,Nu Tek India Limited,CPR CAPITAL SERVICES LTD.,SELL,180909,183.53,-
28-AUG-2008,NUTEK,Nu Tek India Limited,KAUSHIK SHAH SHARES & SECURITIES PVT LTD,SELL,177427,189.68,-
28-AUG-2008,NUTEK,Nu Tek India Limited,MANIPUT INVESTMENTS PVT LTD,SELL,118723,185.51,-
28-AUG-2008,NUTEK,Nu Tek India Limited,NAMAN SECURITIES & FINANCE PVT LTD,SELL,86757,197.40,-
28-AUG-2008,NUTEK,Nu Tek India Limited,R.M. SHARE TRADING PVT LTD,SELL,205642,187.18,-
28-AUG-2008,NUTEK,Nu Tek India Limited,SMC GLOBAL SECURITIES LTD.,SELL,96485,184.35,-
28-AUG-2008,NUTEK,Nu Tek India Limited,SUKETU VASANTLAL JARIWALA,SELL,170060,183.79,-
28-AUG-2008,NUTEK,Nu Tek India Limited,TRANSGLOBAL SECURITIES LTD.,SELL,247349,188.23,-
28-AUG-2008,NUTEK,Nu Tek India Limited,YUVAK SHARE TRADING PVT LTD,SELL,159046,186.42,-
28-AUG-2008,OCTAV,Octav Investments Limited,MANSUKH SECURITIES & FINANCE LTD,SELL,15917,60.75,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,ADROIT FINANCIAL SERVICES PVT LTD,SELL,23986,117.47,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,AGRAWAL POORAN MAL,SELL,3098,116.49,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,AJAY ASSET MANAGEMENT PRIVATE LIMITED,SELL,6299,116.22,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,ALOK MAHESHWARI,SELL,5501,117.56,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,AMBIT SECURITIES BROKING PVT. LTD.,SELL,8418,116.51,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,AMIT JAIN,SELL,4653,115.24,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,ANKIT AGARWAL,SELL,4000,114.26,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,ANKITA VISHAL SHAH,SELL,10472,116.67,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,ASHOK KUMAR CHUGH,SELL,3255,117.04,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,B K SHAH CO KETAN BHAILAL SHAH,SELL,32848,119.40,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,BALASUBRAMANIAN S,,SELL,4000,113.15,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,BANSILAL RATILAL THAKKAR,SELL,3043,116.50,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,BRONZE SECURITIES PVT. LTD.,SELL,8191,117.06,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,CAPITAL WIZARD STOCK BROKING PRIVATE LIMITED,SELL,42177,116.29,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,CONQUEST SECURITIES PRIVATE LTD,SELL,4000,114.57,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,CPR CAPITAL SERVICES LTD.,SELL,56696,116.14,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,DATTATRAY WAMAN DAWANE,SELL,2990,114.56,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,DEEPAK AHUJA,SELL,3000,114.85,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,DINDAYAL BIYANI STOCK BROKERS LTD,SELL,12184,120.83,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,DINESH MUNJAL,SELL,31647,116.20,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,DYNAMIC STCOK BROKING (I) PVT LTD,SELL,3813,117.03,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,FACTS SHARE & STOCK BROKING PVT LTD,SELL,3251,118.00,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,G RAMAKRISHNA,SELL,3000,115.90,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,GAGANDEEP NANDA,SELL,6638,116.21,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,GOINDI KAMINI,SELL,2000,122.06,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,HARBUX SINGH SIDHU,SELL,61146,114.96,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,HARVESTDEAL SECURITIES LTD,SELL,4528,115.33,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,JAGJIT SINGH,SELL,45548,116.15,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,K. K. FINSTOCK,SELL,3455,115.42,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,KIRAM GUPTA,SELL,4000,113.12,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,M VIJAIRAJ,SELL,3000,115.22,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,M.V.SHARE TRADERS (PROP)ARCHANA DEVI.,SELL,5984,115.78,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MAHESHWARI EQUITY SERVICES (P) LIMITED,SELL,3320,111.50,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MANIPUT INVESTMENTS PVT LTD,SELL,4858,119.19,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MANISH SHARMA,SELL,3500,114.87,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MANSUKH SECURITIES & FINANCE LTD,SELL,26814,116.52,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MBL & COMPANY LTD.,SELL,8243,118.17,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MITHUN KAUSHIK,SELL,8000,112.24,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MITHUN SECURITIES PVT. LTD.,SELL,11466,118.07,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MLB CAPITAL PVT LTD,SELL,8611,118.63,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,MODEX INTERNATIONAL SECURITIES LIMITED,SELL,12760,115.91,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,N RAVI KUMAR,SELL,6003,117.92,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,NAMAN SECURITIES & FINANCE PVT LTD,SELL,30615,120.59,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,NARASIMHA REDDY SHOBHA,SELL,5000,116.71,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,NIKUNJ K SHAH,SELL,8897,118.22,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,OPG SECURITIES PVT. LTD.,SELL,7661,114.49,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,PAUL HERALD MANOHARAM GATHALA,SELL,3467,114.91,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,PAWAN KUMAR GUPTA,SELL,3666,116.40,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,PAWAN NATANI,SELL,3000,119.94,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,PRAGATI PAPER MILLS LTD,SELL,10059,119.48,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,PRIYASHA-MEVEN FINANCE LTD.,SELL,4539,116.80,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,R.R.CHOKHANI STK BRK PVT LTD,SELL,5589,116.67,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,RACHANA S BAJAJ,SELL,8005,120.48,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,RAGOTHAMA RAO R,SELL,3750,114.29,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,RAHUL DOSHI,SELL,17070,112.63,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,RAJIV SOBTI,SELL,2500,118.32,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,RAKESH NATWARLAL VORA,SELL,11455,115.46,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,RAO KATAKAM VENKATESH,SELL,3840,117.45,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,RAVI KUMAR,SELL,3100,115.20,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,S SRINIVAS,SELL,5820,121.04,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,SABADRA HARAKCHAND KACHARDAS,SELL,5500,116.34,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,SAJI MATHEW,SELL,6383,116.93,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,SAKHAMURI NAVEEN BABU,SELL,3100,117.39,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,SASI KUMAR,SELL,4000,111.51,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,SATYANARAYAN KABRA,SELL,3000,113.90,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,SETU SECURITIES LTD,SELL,4016,130.09,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,SHIJU OTTATHYCKAL ,SELL,4000,118.00,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,SVS SECURITIES PVT. LTD,SELL,3036,120.38,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,TAJINDERJIT SINGH,SELL,23422,115.48,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,THOMAS VERGHESE P V K PALOCCARAN,SELL,3518,115.72,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,TRANSGLOBAL SECURITIES LTD.,SELL,43101,117.86,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,URJA INVESTMENT PVT. LTD.,SELL,3326,120.50,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,VALI SHAIK MASTAN,SELL,3457,114.46,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,VIJIT ASSET MANAGEMENT PRIVATE LIMITED,SELL,6714,129.44,-
28-AUG-2008,VINCARDS,Vintage Cards & Creations,YUVAK SHARE TRADING PVT LTD,SELL,88649,124.36,-
28-AUG-2008,VITLINFO,Vishal Information Techno,AMBIT SECURITIES BROKING PVT. LTD.,SELL,105970,288.93,-
28-AUG-2008,VITLINFO,Vishal Information Techno,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,SELL,133247,288.05,-
28-AUG-2008,VITLINFO,Vishal Information Techno,MANAN P DALAL,SELL,90156,287.62,-
28-AUG-2008,VITLINFO,Vishal Information Techno,MANSUKH SECURITIES & FINANCE LTD,SELL,64414,288.08,-
28-AUG-2008,VITLINFO,Vishal Information Techno,MBL & COMPANY LTD.,SELL,77655,287.17,-
Post Market Commentary - Aug 28 2008
Markets showed sharp cut in the final trading hours to close with losses backed by heavy selling pressure due to the inflation fears. Nifty and Sensex slipped towards 4,200 and 14,000 mark respectively. Indian market opened with modest gains tracking positive cues from US markets but soon become unstable on rising inflation worries and expiry of August series derivatives contracts. Further domestic market continued to trade weak after the mid session without showing any sign of recovery. Market slipped sharply during last trading hours to close in red. Weak European markets also contributed to the selling pressure. Along with this rise in crude oil prices in international markets also fueled to the negative sentiment. Light, sweet crude for the October delivery raised $1.88 to settle at $118.15 a barrel on the New York Mercantile Exchange after it touched the peak of $119.63. From the sectoral front, all indices closed in red and Capital Goods, Oil & Gas and Reality stocks closed with deep cut of more than 2%. Along with this heavy selling pressure was visible in Metal, Bank and IT stocks. Midcap and Smallcap stocks lost more than 1%. The market breadth was negative as 1721 stocks closed in red while 898 stocks closed in green and 97 stocks remained unchanged.
The BSE Sensex closed lower by 248.45 points at 14,048.34 and NSE Nifty ended down by 80.10 points at 4,214.00. The BSE Mid Caps closed with losses of 77.58 points at 5,608.85 along with Small Caps ended down by 77.61 points at 6,782.30. The BSE Sensex touched intraday high of 14,347.19 and intraday low of 14,002.43.
Lossers from the BSE are Hindalco (12.60%), Reliance (3.45%), Reliance Infra (3.45%), BHEL (3.12%), TCS Ltd (3.05%), BHEL (2.34%), Reliance Com Ltd (2.98%), L&T Ltd (2.91%), Wipro Ltd (2.67%) and ICICI Bank Ltd (2.30%).
The BSE Capital Goods index lost 262.37 points to close at 11,492.50. Major lossers are Lakshmi Ma W (4.28%), Alstom Proje (4.12%), Praj Indus (3.69%), Thermax Ltd (3.61%), Walchand In (3.19%) and BHEL (3.12%).
The BSE Oil & Gas index closed lower by 247.81 points at 9,407.79. Lossers are Aban Offshore (4.92%), Essar Oil Ltd (4.53%), BPCL (4.38%), HPCL (3.98%), Reliance (3.45%) and Gail India (2.56%).
The BSE Metal index dropped by 224.79 points to close up at 11,925.15. Lossers are Hindalco (12.60%), Nalco (5.94%), NMDC Ltd (4.47%), Jai Corp Ltd (4.01%), Welspan Gujarat Sr (3.57%) and Ispat Indus (2.44%).
The BSE Bank index closed down by 119.04 points at 6,596.41. Lossers are Indus Ind Bank (5.61%), IOC (3.81%), Yes Bank (3.67%), Kotak Bank (3.15%), Allahabad Bank (2.89%) and ICICI Bank Ltd (2.30%).
The BSE Reality index ended lower by 83.97 points at 4,753.07 As Housing Development (5.51%), Anant Raj Industries (4.30%), Sobha Dev (3.65%), Ansal Infra (2.86%), Orbit Co (2.14%) and DLF Ltd (2.08%) closed in negative territory.
The BSE IT index lost 38.78 points to close at 3,853.39. Major lossers are Tech Mahindra (5.22%), Aptech Ltd (5.14%), I-Flex (3.94%), TCS Ltd (3.05%), Wipro Ltd (2.67%) and Financ Tech (2.42%).
Last-hour selling pips market
The 30-stock Sensex of the BSE started the day with an optimistic note--81 points higher than its previous close (14,483). However, in the next 10 minutes it was trading below the previous close, and all through the day it traded below this level. Action was witnessed an hour-and-a-quarter before the closing bell—the index fell precipitously and in the next 45 minutes the Sensex was trading at the lowest of the day, more than 200 points lower.
The slide was driven by selling in heavyweights and major correction in reality, banking, power, capital goods and consumer durable stocks.The index wrapped up the day 185 points or 1.28% lower.
The 50-stock Nifty also witnessed almost similar up and downs and wound up the day 45 points or 1.05% lower.
All the 13 sectoral indices ended lower today. BSE Realty (-3.5%), BSE Bankex (-2.14%) and BSE Power (-1.41%) were the top three losing indices for the day. BSE CG, BSE Oil & Gas and BSE PSU lost around 1%, while the remaining seven indices posted marginal losses.
The breadth of the market was extremely negative, as around 58% stocks (1,571 stocks) declined while 38% stocks (1,036 stocks) advanced. Around 4% stocks (99 stocks) ended unchanged.
Of the 30 stocks that constitute the Sensex, only four stocks added to their values. These stocks were Hindalco, up 2.06% at Rs138.50, Infosys Technologies up 0.50% at Rs1,708, Tata Steel up 0.67% at Rs581.40 and Mahindra & Mahindra up 0.29% at Rs575.90.
Among the major losers, DLF tumbled 3.99% at Rs478.20, Reliance Infrastrusture plunged 3.65% at Rs965.75, State Bank of India slumped 2.96% at Rs1,330.90, ICICI Bank dropped 2.71% at Rs648.85, HDFC shed 2.47% at Rs2,286, Tata Motors lost 2.43% at Rs422.80, BHEL declined 3% at Rs1,748 and Reliance Communications down 2.34% at Rs397.30. Other frontline stocks too were down around 0.50-2% each.
Reality stocks were hit the hardest. Indiabulls Realestate crashed 8.59% at Rs261.70, DLF tumbled 3.99% at Rs478.20, Ansal Properties declined 3.11% at Rs99.65 and Unitech dropped 2.28% at Rs156.35. Akruti City, Peninsula Land, Orbit Corporation, Parsvnath Developers and Mahindralife were down over 1-2% each.
On turnover front, over 1.30 crore Nutek India shares changed hands on the BSE followed by Reliance Natural Resources (1.20 crore shares), GTL Infrastructure ( 78.68 lakh shares), Firstsounce Solutions (74.85 lakh shares) and Chambal Fertilisers & Chemicals(62.06 lakh shares)
Turnover surges
RIL, SBI September 2008 futures at premium
Nifty September 2008 futures were at 4229.50, at a premium of 15.50 points as compared to spot closing of 4214. NSE's futures & options (F&O) segment turnover was Rs 66,164.24 crore, which was higher than Rs 47,535.27 crore on Wednesday, 27 August 2008.
Reliance Industries (RIL) September 2008 futures were at premium at 2096 compared to the spot closing of 2070.85.
State Bank of India (SBI) September 2008 futures were at premium at 1,325.85 compared to the spot closing of 1,309.35.
Reliance Petroleum (RPL) September 2008 futures were at premium at 156.10 compared to the spot closing of 154.40.
In the cash market, the S&P CNX Nifty lost 78.10 points or 1.82% at 4214.
RIL leads 248-point Sensex fall
Intense selling in index heavyweight Reliance Industries (RIL) and bank stocks triggered a sell-off in late trade. The BSE 30-share Sensex lost 248.45 points. Concerns of high inflation and steady rise in crude oil prices for three consecutive sessions weighed on the sentiments. Volatility was high in the second half of the trading session ahead of the expiry of August 2008 derivatives contracts. The market breadth was weak.
Bharat heavy Electricals, DLF and TCS shed over 3%. Reliance Industries (RIL) lost nearly 3%. Tata Power rose close to 1.5%.
As per provisional data released by the stock exchanges after trading hours, foreign funds today, 28 August 2008, sold shares worth a net Rs 187.19 crore. Domestic funds bought shares worth a net Rs 390.62 crore.
India's inflation based on the wholesale price index is forecast to have risen to a fresh 16-year high for the year through 16 August 2008. The government will release the inflation data after market hours today, 28 August 2008
The BSE 30-share Sensex lost 248.45 points or 1.74% at 14,048.34. At the day’s low of 14,002.43 struck in late trade, the Sensex lost 294.36 points. Sensex gained 50.40 points at day’s high of 14,347.19 hit in early trade.
The S&P CNX Nifty slipped 78.10 points or 1.82% to 4214. Nifty September 2008 futures were at 4229.50, at a premium of 15.50 points as compared to spot closing. August 2008 derivatives contracts expired today, 28 August 2008.
As per reports, marketwide rollover of positions from August 2008 series to September 2008 series stood at 62% while that of Nifty was at 56%, as of Wednesday, 26 August 2008. The rollovers are in line with those in previous series.
The BSE Sensex is down 6238.65 points or 30.75% in the calendar year 2008 so far from its close of 20,286.99 on 31 December 2007. It is 7158.43 points or 33.75% away from its all-time high of 21,206.77 struck on 10 January 2008.
The market breadth was weak on BSE with 1718 shares declining as compared to 912 that advanced. 84 remained unchanged.
The BSE Mid-Cap indices fell 1.36% to 5,608.85 and the BSE Small-Cap index lost 1.13% to 6,782.30. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 4035 crore as compared to Rs 3,701.35 crore yesterday, 27 August 2008. NSE's futures & options (F&O) segment turnover was Rs 66,164.24 crore, which was higher than Rs 47,535.27 crore on Wednesday, 27 August 2008.
Among the 30-member Sensex pack, 24 declined while the rest advanced.
India's largest private sector aluminium maker by sales Hindalco Industries settled at Rs 121.40 on 14.80 lakh shares. The stock started trading on an ex-rights basis today. The right issue is in the ratio of 3:7, priced at Rs 96 each. The stock also turned Rs 1.85 ex-dividend from today.
India’s largest real estate developer DLF plunged 3.31% to Rs 462.35 on 17.06 lakh shares. It was the top loser from Sensex pack. Other real estate shares Unitech (down 2.21% to Rs 152.90), Ansal Infrastrcutures (down 3.66% to Rs 96), Sobha Developers (down 3.31% to Rs 257), edged lower. However Akruti City spurted 8.76% to Rs 895.55. The BSE Realty lost 1.74% at 4,753.07.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) lost 2.88% to Rs 2086 on 12.45 lakh shares. On 26 Tuesday, August 2008, RIL confirmed media reports that it is planning to transfer 80% of its participatory interest (PI) in the D6 block in the Krishna Godavari (KG) basin to four unlisted subsidiaries. The BSE Oil & Gas Index fell 2.57% at 9,407.79.
Banking shares dropped ahead of the inflation data due after market hours today, 28 August 2008. ICICI Bank (down 2.28% to Rs 634.05), HDFC Bank (down 0.44% to Rs 1228), and State Bank of India (down 1.97% to Rs 1304.70), declined. BSE's banking sector index Bankex lost 1.77% to 6,596.41
Cement shares slipped after recent foreign brokerage report showed cement prices are set to decline 15-20% by fiscal 2009-10 due to increase in increase in cement supplies. ACC (down 1.34% to Rs 551), Ambuja Cement (down 1.69% to Rs 78.55), UltraTech Cement Company (down 1% to Rs 588.90), and India Cement (down 2.96% to Rs 136), slipped.
Tata Steel, the world's sixth-largest steel maker by capacity, lost 2.24% to Rs 568.40. The company said after trading hours today, 28 August 2008, its consolidated net profit rose 60.4% to Rs 3900.90 crore in Q1 June 2008 over Q1 June 2007, boosted by its Anglo-Dutch unit Corus.
India's largest oil exploration firm Oil & Natural Gas Corporation fell 0.34% to Rs 1002.25. British oil and gas explorer Imperial Energy said on Tuesday, 26 August 2008, that its management has agreed to a takeover from ONGC worth 1.4 billion pounds ($ 2.6 billion).
IT pivotals declined. Infosys Technologies, the country’s second largest software services exporter slipped 0.47% to Rs 1700. The company said after trading hours on Monday, 25 August 2008, it has agreed to acquire UK based SAP consulting company Axon Group plc, for 407.1 million pounds or Rs 3310 crore. Axon reported profit after taxation of 20.2 million pounds (Rs 160 crore) on revenue of 204.5 million pounds or Rs 1660 crore in the year ended 31 December 2007.
Wipro (down 2.67% to Rs 414), Satyam Computer Services (down 0.10% to Rs 404.50) and TCS (down 3.24% to Rs 792) declined. The BSE IT Index fell 1% to 3,853.39.
Capital goods heavyweights suffered steep losses today. Bharat Heavy Electricals (down 3.29% to Rs 1626) and Larsen & Toubro (down 2.58% to Rs 2510), slumped. The BSE capital goods index Index lost 2.23% at 11,492.50.
Telecom pivotals were also under pressure. India’s top cellular services provider by market capitalisation Bharti Airtel fell 0.14% to Rs 803. The company has reportedly linked up with Google, KDDI Corporation, Global Transit and SingTel to form a consortium, called South East Asia Japan Cable (SJC), which will connect Southeast Asia.
Reliance Communications, the country’s second largest cellular services provider by market capitalisation fell 2.47% to Rs 387.50
Reliance Infrastructure (down 3.29% to Rs 1626), TCS (down 3.24% to Rs 792), Tata Motors (down 2.92% to Rs 410.45), edged lower from Sensex pack.
India’s top tractor maker by sales Mahindra & Mahindra (M&M) fell 2.76% to Rs 560. The company is reportedly in talks with Italian motorcycle and scooter maker Malaguti Moto for a possible takeover.
India’s second largest private sector power generation company Tata Power rose 1.41% to Rs 1025.90 on 1.42 lakh shares. It was the top gainer from the Sensex pack.
NTPC, the country’s largest power generation company by sales rose 0.18% to Rs 171.50. As per reports the company is on course to take up retail distribution of electricity in upcoming industrial parks in Kerala.
Ranbaxy Laboratories, the country’s biggest pharma company by sales, gained 0.31% to Rs 513. As per reports, the Foreign Investment Promotion Board (FIPB) yesterday, 27 August 2008 approved the acquisition of Ranbaxy by Japan's Daiichi Sankyo and the deal would now have to be cleared by the Finance Minister and the Cabinet Committee on Economic Affairs.
Maruti Suzuki India (up 0.57% to Rs 630), and ITC (up 0.54% to Rs 184.50), edged higher from Sensex pack.
Reliance Capital was the top traded counter on BSE with turnover of Rs 266 crore followed by Reliance Industries (Rs 249.40 crore), Nutek India (Rs 157.80 crore), Larsen & Toubro (Rs 136.70 crore) and Reliance Natural Resources (Rs 114 crore), in that order.
Reliance Natural Resources topped volumes chart on BSE notching volumes of 1.24 crore shares followed by Nutek India (84.25 lakh shares), Chambal Fertilisers (63.30 lakh shares), IFCI (56 lakh shares) and Ispat Industries (53.15 lakh shares), in that order.
Mastek rose 0.24% to Rs 358.30 after about 12.88 lakh shares or 4.8% of the company’s equity changed hands in a block deal on BSE at Rs 361 each.
Pyramid Saimira Theatre rose 3.85% to Rs 139 on reports the company is close to acquiring UK’s oldest theatre chain Reel Cinemas, earlier Associated British Cinemas or ABC, for around Rs 200 crore.
Zandu Pharmaceutical Works surged 5% to Rs 16,553.65 on reports the Company Law Board has dismissed a petition filed by the co-promoters of the company opposing an alleged take-over bid by rival Emami.
Marksans Pharma rose 5% to Rs 20.35 after the company said it has acquired 100% stake in Relonchem, a leading UK based generic pharmaceutical company, for an undisclosed sum. The company made this announcement before trading hours today, 28 August 2008.
Apollo Sindhoori Capital Investments jumped 9.65% to Rs 58 after Aditya Birla Nuvo today, 28 August 2008, said its board had approved the acquisition of a controlling 56% in the company at about Rs 64 per share.
On the New York Mercantile Exchange, October 2008 crude rose $1.88 at $118.15 per barrel, yesterday, 27 August 2008 on fears that Tropical Storm Gustav could interrupt oil and natural gas output in the Gulf of Mexico.
European markets which opened after Indian markets were mixed. Key benchmark indices in UK and France were up by between 0.08% and 0.07%. Germany’s DAX fell 0.27%
Asian markets were trading mixed. Key benchmark indices in Hong Kong, Singapore, South Korea and Taiwan were down by between 0.52% and 2.29%. However indices in China and Japan rose 0.34% and 0.12% respectively.
US stocks rose yesterday, 27 August 2008, as unexpectedly strong data on durable goods orders soothed concerns about the sluggish economy while Fannie Mae and Freddie Mac led a rally in financial shares. The Dow Jones industrial average gained 89.64 points or 0.79% to 11502.51. The S&P 500 rose 10.15 points or 0.80% to 1,281.66. The Nasdaq Composite gained 20.49 points or 0.87% to 2382.46.
August 2008 derivatives expiry to keep market volatile; inflation eyed
Key benchmark indices are braced for a choppy session today, 28 August 2008 ahead of the expiry of derivative contracts for August 2008 series and inflation data for the week ended 16 August 2008. Rise in crude oil prices may weigh on the bourses. Global cues were mixed.
As per reports, marketwide rollover of positions from August 2008 series to September 2008 series stood at 62% while that of Nifty was at 56%, as of Wednesday, 26 August 2008. The rollovers are in line with those in previous series.
Fears of a further monetary tightening by the Reserve Bank of India to rein in inflation which is at 16-year high may also haunt the bourses. The wholesale price index for the week ended 16 Aug 2008 which will be released after market hours today, 28 August 2008 is forecast to have risen to a fresh 16-year high.
On the New York Mercantile Exchange, October 2008 crude rose $1.88 at $118.15 per barrel, yesterday, 27 August 2008 on fears that Tropical Storm Gustav could interrupt oil and natural gas output in the Gulf of Mexico.
Asian markets were trading mixed today, 28 August 2008. Shanghai Composite was up by 0.87% at 2,362.57, Nikkei gained 0.06% at 12,760 and Straits Times rose 0.12% at 2,708.43.
However, Hang Seng fell 0.98% at 21,254.83, Seoul Composite lost 0.58% at 1,485.31 and Taiwan Weighted was down 0.24% at 7,064.
US stocks rose yesterday, 27 August 2008 as unexpectedly strong data on durable goods orders soothed concerns about the sluggish economy while Fannie Mae and Freddie Mac led a rally in financial shares. The Dow Jones industrial average gained 0.79% or 89.64 points, to 11502.51. The S&P 500 rose 10.15 points or 0.80% to 1,281.66. The Nasdaq Composite gained 20.49 points or 0.87% to 2382.46.
Foreign institutional investors (FIIs) were net equity sellers worth Rs 32.49 crore while mutual funds purchased shares worth Rs 163.27 crore on Wednesday, 27 August 2008, according to provisional data on NSE.
FIIs were net buyers of Rs 848.41 crore in the futures & options segment on Wednesday, 27 August 2008. They were net buyers of index futures to the tune of Rs 224.25 crore and purchased index options worth Rs 426.86 crore. They were net buyers of stock futures to the tune of Rs 166.95 crore and bought stock options worth Rs 30.35 crore.
Back home key benchmark indices fell sharply in late trade yesterday, 27 August 2008, snapping a three-day winning streak, on concerns of inflation touching new highs and ahead of August F&O series expiry. The BSE Sensex lost 185.43 points or 1.28% to 14,296.79 and the S&P CNX Nifty slipped 45.40 points or 1.05% at 4292.10.
The BSE Sensex is down 5990.20 points or 29.52% in the calendar year 2008 so far from its close of 20,286.99 on 31 December 2007. It is 6909.98 points or 32.58% away from its all-time high of 21,206.77 struck on 10 January 2008.
Pre Session Commentary - Aug 28 2008
The Indian Market is expected to have positive opening as US markets ended higher and Asian markets are trading mixed. On Wednesday, domestic market sharply cut down during final trading hours on the back of heavy selling that led the market to close in red terrain. Market opened with gains tracking positive cues from global markets but was not able to sustain the same momentum and slipped soon after beginning. Domestic market traded in tight range and continued its downward journey ahead of August series derivatives contracts expiry, which is due today. Market lost further momentum and slipped sharply during final trading hours to close with losses. Weak European markets also fueled the negative sentiment. NSE Nifty ended below 4,300 mark and BSE Sensex around 14,300 level. From the sectoral front, all indices closed in red and reality stocks slipped dipper into negative with loss of more than 3%. Along with this Bank, Capital Goods, Oil & Gas, Power and Consumer Durable stocks also witnessed heavy selling from these baskets. The BSE Sensex closed lower by 185.43 points at 14,296.79 and NSE Nifty ended down by 45.10 points at 4,292.10. The BSE Mid Caps closed with losses of 58.34 points at 5,686.43 along with Small Caps ended down by 52.71 points at 6,859.91.
We expect that market may see volatile trade during the trading session ahead of inflation number for the week ended 16th August 2008 due to be released today evening and expiry of August series derivatives contracts today.
On Wednesday, the US market was closed higher. Encouraging data from manufacturing sector had offset the continuous third day jump in crude oil. Light, sweet crude for the October delivery raised $1.88 to settle at $118.15 a barrel on the New York Mercantile Exchange after it touched the peak of $119.63.
The Dow Jones Industrial Average (DJIA) closed higher by 89.64points to close at 11,502.51 along with the NASDAQ index ended up by 20.49 points to close at 2,032.46 and the S&P 500 (SPX) gained 10.15 points to close at 1,281.66.
Indian ADRs ended up. In technology sector, Infosys ended higher by (1.58%) followed by Wipro surged by (1.05%), Patni Computers by (0.95%) and Satyam by (0.32%). In banking sector HDFC Bank gained (0.80%) while ICICI Bank lost (1.15%). In telecommunication sector, Tata Communication ended up by (1.18%) while MTNL dropped by (0.83%). Sterlite industries increased by (0.28%).
Today the major stock markets in Asia are trading mixed. Japan’s Nikkei is trading higher by 7.04 points at 12,760.00 along with Singapore''s Straits Times trading up by 3.34 points at 2,708.43. However, Hang Seng index trading lower by 209.89 points at 21,254.83 and Taiwan Weighted lost 16.97 points at 7,064.00.
The FIIs on Wednesday stood as net seller in equity and in debt. The gross equity purchased was Rs1,426.00 Crore and the gross debt purchased was Rs0.50 Crore while the gross equity sold stood at Rs1,932.00 Crore and gross debt sold stood at Rs46.30 Crore. Therefore, the net investment of equity reported was (Rs506.00) Crore and net debt was (Rs45.80) Crore.
The partially convertible rupee ended at 43.74/75 per dollar, stronger than 43.85/856 close on Tuesday. The Indian rupee gained 11 paise on Wednesday as the Reserve Bank of India (RBI) sold dollars for a second straight session after month-end demand for the U.S. unit from oil firms threatened to push the rupee above 44 per dollar.
Today, Nifty has support at 4,198 and resistance at 4,362 and BSE Sensex has support at 13,911 and resistance at 14,561.
Punj LLoyd
We recommend a buy in Punj Lloyd from a short-term perspective. It is apparent from the charts of Punj Lloyd that the stock has been on a medium-term uptrend from its 52-week low of Rs 183, recorded in early July.
While trending up, the stock crossed over the 21- and 50-day moving averages in late July.
We notice high volume in advance days of the up move. After witnessing resistance at Rs 300 level recently, the stock is currently pausing in the band between Rs 280 and Rs 300.
The daily and weekly relative strength indices are rising in the neutral region towards the bullish zone. The stock’s medium-term up trendline is intact and it is trading well above its 21- and 50-day moving averages.
We are positive on the stock in the short-term horizon. We expect the stock to move up until it hits our price target of Rs 314 in the upcoming trading sessions. Traders with short-term perspective can buy the stock while maintaining a stop-loss at Rs 269.
Trading Calls - Aug 28 2008
Nifty (4292) Sup 4250 Res 4360
Buy Punj Lloyd (284) SL 279 Target 292, 295
Buy M&M (576) SL 571
Target 586, 590
Buy Crompton Greaves (270) SL 265 Target 280, 282
Sell RNRL (93) SL 96
Target 88, 87
Sell Karnataka Bank (134) SL 138 Target 126, 124
Deal delights and dull fights!
Danger and delight grow on one stalk.
This holds true for stocks also. It's been a week of mega deals. Infosys announced an all-cash deal for UK's Axon Group. Incidentally, ONGC Videsh made a formal bid for another British firm, Imperial Energy. Though there is a possibility that both these deals could face counter bids, they do reinforce the growing ambition and confidence of India Inc even in today's uncertain times. A slew of smaller deals appear to be in the pipeline from the likes of M&M, Pyramid Saimira, Marksans Pharma, Apollo Hospitals and Mercator Lines. But naturally, these stocks will be in focus, though one should not jump the gun and go overboard over the announcements.
Meanwhile, the current F&O expiry week has been one of the most lackluster in recent memory, with unusually low volume and low rollovers amid a murky outlook for the market.
Among the major events to keep an eye on will be inflation data for the week ended August 16. The range estimated by various economists is 12.75-12.9%. It could even be higher than that, which will once again trigger a sell-off and raise concern over further monetary tightening. Reports suggest that if the latest spike in sugar prices is taken into account, inflation could be much higher. Inflation will fall to 5-6% in the next 12 months, says Arvind Virmani, the finance minister's chief economic adviser. Annual WPI-based inflation rose to 12.63% in the week through Aug. 9.
Meanwhile, the Government will announce the preliminary GDP growth numbers for the first quarter of the current fiscal year. Economic growth in the April-June quarter is likely to dip below the 8% mark from 8.8% in the January-March quarter. GDP growth in the first quarter of FY08 was a strong 9.2%. So, a fall below 8% will be seen as substantial. The RBI expects annual GDP growth at 8%, which is down from 8.5% earlier. Many brokerages and economic think tanks see it falling under 8% for the full year, while the Finance Minister is much more gung-ho and expects 9% growth.
Coming to the market's outlook today, we expect another cautious opening and a choppy day. Global markets are mixed. While US stocks gained on the back of a positive durable goods order report even as crude oil inched higher on reports of another hurricane hitting the oil facilities in the Gulf of Mexico. Reports also suggest that OPEC members like Iran and Venezuela could pressure Saudi Arabia to cut its output in the wake of the recent slide in oil prices.
FIIs were net sellers of Rs324.9mn (provisional) in the cash segment on Wednesday. Local institutions were net buyers of Rs1.63bn. In the F&O segment, the foreign funds were net buyers of Rs8.48bn. On Tuesday, the foreign funds were net sellers of Rs5.06bn in the cash segment. Mutual Funds were net buyers of Rs871mn on the same day.
US stocks rose on Wednesday after a government report on the durable goods orders came in ahead of expectations. Energy shares advanced in line with the spurt in oil prices, as a tropical storm threatened output in the Gulf of Mexico.
The S&P 500 index added 10.15 points, or 0.8%, to 1,281.66, with 9 of its 10 main industry groups gaining. The Dow Jones Industrial Average climbed 89.64 points, or 0.8%, to 11,502.51. The Nasdaq Composite Index rose 20.49 points or 0.9% to 2,382.46.
Investors heaved a sigh of relief after oil prices cooled off from the day's high. Oil had rallied in the morning after a weak inventory report and in response to Tropical Storm Gustav, which is heading for the Gulf Coast.
Additionally, comments from Fed officials, both this morning and in recent days have suggested that inflationary pressures are waning and that the central bank won't have to raise rates in the near term.
In the last week or so, US stocks have been struggling in a narrow range as oil prices have moved back up. Thin trading volume is also adding to market volatility right now, with many Wall Street pros taking the last week of August off.
Wednesday was the lightest trading day of the year on the New York Stock Exchange, with just 820mn shares changing hands. Volume on the NYSE was 1.58bn, also low. On both the NYSE and the Nasdaq, market breadth was positive.
Both trading volume and the attention of investors will pick up after Labor Day weekend.
US crude oil futures settled up $1.88 at $118.15 a barrel on the New York Mercantile Exchange. Crude had traded as high as $119.63 a barrel during the session. Wednesday's settlement is the highest close since last week, when oil closed at $121.18 on Thursday, Aug. 21.
Retail gas prices continued to drop, extending the downward trend, according to a survey of gas station credit-card activity. Gas prices are down over 10% from all-time highs hit in mid-July.
In the bond market, Treasury prices inched higher, lowering the yield on the benchmark 10-year note to 3.76% from 3.77% late on Tuesday. The dollar was little changed versus the euro and the yen. COMEX gold for October delivery rose $4.50 to $828.70 an ounce.
The US government will release an update to the second-quarter GDP on Thursday. Economists are forecasting an increase of 2.7%, up from the 1.9% growth first reported last month. But, there are concerns that the world's largest economy will continue to be weak through the rest of this year and even into 2009.
Fannie Mae is among the stocks likely to be active on Thursday after the company announced late Wednesday the departure of three executives, including the chief financial officer and the promotion of three other executives.
European shares closed higher. The pan-European Dow Jones Stoxx 600 index rose 0.2% to 283.25. The commodity-heavy UK's FTSE 100 closed up 1.1% at 5,528.10. Germany's DAX 30 dropped 0.3% to 6,321.03, and the French CAC-40 reversed earlier losses to close up 0.1% to 4,373.08.
In the emerging markets, Brazil's Bovespa was up 2.1% at 55,519 while Mexico's IPC index rose 0.2% at 26,131. The RTS index in Russia advanced 0.6% to 1589 and the ISE National-30 index in Turkey was down 0.7% at 49,085.
Don’t expect major moves
Indian stock markets snapped three day winning streak on Wednesday on the back of weak global cues and a spike in the crude oil prices. The interest rate sensitive stocks like banking, realty yet again were under pressure ahead of inflation figures to be announced on Thursday.
All the BSE Sectoral indices ended in the red, BSE Realty index (down 3.5%), BSE Bankex index (down 2.1%) and BSE Power index (up 1.4%) were among the top losers. Even the Mid-Cap and the Small-Cap indexes witnessed offloading, the BSE Mid-Cap index fell 1.02% and the Small-Cap index lost 0.7%.
Among the 30-components of Sensex, 26 stocks were in red and only 4 stocks were in green. Reliance Industries, ICICI Bank, HDFC and SBI were among the major laggards. On the other hand, bucking the negative trend were, Infosys, Hindalco and Tata Steel.
Finally, the benchmark Sensex lost 185 points to close at 14,296 and Nifty ended 45 points lower to close at 4,292.
In the overall market, 1,022 stocks advanced and 1,582 stocks declined. Whereas, 103 stocks were unchanged.
Shares of Jyothy Laboratories lost ground significantly and slipped 6.5% to Rs444. The company announced that the board of directors of the company approved sub-division of existing equity shares of Rs5/- each into 5 equity shares of Rs1/- each.
The board also recommended dividend of Rs7.50 per equity shares of Rs5/- each for the financial year ended June 30, 2008. In addition the board of directors has recommended a special silver jubilee year dividend of Rs2.50 per equity share.
The scrip touched an intra-day high of Rs502 and a low of Rs437 and recorded volumes of over 23,000 shares on BSE.
Bartronics edged lower by 0.2% to Rs172. The company announced that it launched four smart card based products during the Smart Cards Expo at New Delhi. These products are targetted towards software development Companies to use for application development using smart cards manufactured by Bartronics. The scrip touched an intra-day high of Rs174 and a low of Rs171 and recorded volumes of over 38,000 shares on BSE.
Shares of Thomas Cook rallied by over 15% to Rs98 after the board of directors of the company approved to raise funds not exceeding Rs2bn by way of issue of equity shares to the existing equity shareholders of the company on a "Rights" Basis.
The rights ratio, price and other terms of the proposed issue would be decided at a later date. The earlier announced resolution, including the ratio of one equity share for every three equity share held as on the record date stands cancelled. The scrip touched an intra-day high of Rs102 and a low of Rs84 and recorded volumes of over 20,00,000 shares on BSE.
Reliance Capital ended 1% lower at Rs1278. According to reports, the company announced that it has taken a decision to spin off its home loans business into a new company. The scrip touched an intra-day high of Rs1310 and a low of Rs1271 and recorded volumes of over 17,00,000 shares on BSE.
SREI Infrastructure ended flat at Rs107. Reports stated that it has tied up with Waha Leasing to expand its business in Middle East.Report stated that London based European Bank for Reconstruction and Development has acquired 30% stake in Zao SREI, a subsidiary pf the SREI group. The scrip touched an intra-day high of Rs109 and a low of Rs105 and recorded volumes of over 74,000 shares on BSE.
Shares of Kilburn Engineering rallied by over 6% to Rs37 after the company announced that it received confirmed orders / Letter of Intent aggregating to Rs149mn. The scrip touched an intra-day high of Rs40 and a low of Rs35 and recorded volumes of over 60,000 shares on BSE.
Shares of Stone India gained by 0.4% to Rs53 after the company announced that it executed a MoU with RailRunner Inc., USA to introduce the latest intermodal freight cars and transportation technology & system in India.
Such a system will allow seamless point to point movement of containerized goods between road and railway in a very cost effective & environment friendly manner allowing container trains to run at passenger train speeds. The scrip touched an intra-day high of Rs56.05 and a low of Rs51.10 and recorded volumes of over 33,000 shares on BSE.
FIIs continue to be net sellers; nagging worries over local as well as global headwinds will keep investors on tenterhooks. Expect increased volatility on the back of F&O expiry. Bulls and the bears are pretty indecisive at this juncture. As a result, the market will continue to be sluggish in the near term.
M&M is in talks with Italian 2-wheeler major Malaguti Moto for a possible takeover. (ET)
Infosys to spend Rs10bn on SEZ in current fiscal for creating additional space. (BL)
Reliance Industries has increased the size of its 5-year loan by 20% to US$1.2bn after banks offered more than it sought. (BS)
BHEL blames government tender norms for losing orders of 18,000MW to Chinese competitor. (BS)
NTPC, Essar Power and Torrent Power Ltd are among the firms identified by the power ministry for buying natural gas from RIL. (Mint)
Infosys may win more orders from West Asia and India. (Mint)
NTPC is likely to venture into retail distribution of electricity through distribution in the upcoming industrial parks in Kerala. (BL)
NTPC is planning to source R-LNG on a single offer basis from GAIL, IOC and BPCL. (FE)
Jet Airways has decided to stop global expansion for a year starting November 2008. (Mint)
SAIL plans to expand mining capacity to service the demand arising from increasing output. (BS)
NDTV plans to foray into regional language space and bollywood entertainment. (BS)
IOC is raising Rs3bn through issue of bonds. (ET)
Pyramid Saimira is close to acquiring UK’s oldest theatre chain Reel Cinemas for a sum of Rs2bn. (ET)
Marksans Pharma has acquired UK based generic drug marketing and distribution company Relonchem for Rs1bn. (ET)
Reliance Retail will sell imported wine and beer brands through its format Fresh Signature stores. (ET)
Mercator Lines is planning to acquire a 50mn ton coal mine in Indonesia. (ET)
ECL Finance, a subsidiary of Edelweiss Capital has acquired 5.18% stake in Max India. (ET)
OBC raises BPLR by 25bps to 14%. (ET)
Apollo Hospitals is planning to acquire 30% stake in a 250 bed hospital company in Nigeria. (BL)
Hindustan Motors has suspended operation at its ambassador manufacturing unit in Uttarpara, West Bengal. (BL)
Adlabs plans to build 3 multiplexes in Chennai with 17 screens. (BL)
Trent is likely to invest Rs20bn in next 5 years to roll-out 50 star bazaar hypermarket stores. (BS)
PSL acquires 250 acres of land for its proposed SEZ near Pipavav in Gujarat. (BS)
All Indian Origin Chemist and Distributors has entered into an alliance with Sandoz and Lupin to distribute there repective drugs. (FE)
Mahindra Farm Equipments has launched its international range of tractors in Turkey. (FE)
Economy Front page
Economic intelligence unit has lowered its GDP growth estimate from 7.7% to 7.5% for 2008-09. (BL)
Government is considering interest payment on delayed reimbursement of Rs720bn farm loan written off by public sector banks. (ET)
Mineral production from mining and quarrying sector grew by 3.4% in May 2008 as compared to April 2008.
Public sector banks, Corporative banks and regional rural banks are likely to get their first round of reimbursement for the farm debt waiver scheme only after the first supplementary demand for grants for 2008-09 are passed by parliament. (BL)
India’s crude Oil production was lower by 3% yoy in the month of July 2008. (BL)
India buys raw sugar for first time in six years. (Mint)
WPI data to be released on a monthly basis October onwards. (BS)
Bank credit grew by 25.9% yoy till August 15. (BS)
Mixed finish for US Market
The weak technology sector weighs on Nasdaq
In the US stock market on Tuesday, 26 August, US stocks ended mixed with the technology sector playing the spoilsport. Energy sector tried providing some leadership as crude prices increased. Better than expected economic reports also had some positive effect on overall market sentiment. Market opened in the red in the morning. But trading volume was the lowest for the year till date. Nevertheless, Dow and S&P 500 managed to register marginal gains. Seven of the ten sectors registered gains.
The Dow Jones industrial Average ended the day with a gain of 26.6 points at 11,412.87. The Nasdaq Composite Index, finished lower by 3.6 points at 2,361.9. S&P 500 finished higher by 4.6 points at 1,274.51.
Eighteen out of thirty Dow stocks ended in the green today. AIG and other energy stocks led the Dow winners today. The day was quite heavy on economic reports, couple of which was better than expected.
The Federal Open Market Committee (FOMC) minutes for the 5 August, 2008 meeting were released today. On that day, the FOMC had kept the fed funds rate unchanged at 2%, acknowledging both downside risk to growth and increased inflation risks. As per today’s meeting, Fed officials are concerned that inflation won't ease until 2009, but most participants anticipate moderation in the coming quarters. In general, Fed officials expect the next policy move will be to raise rates.
Among the major economic reports hitting the wires today, the Conference Board in USA reported today that July consumer confidence spiked 9.6% to 56.9 from the previous month. This was much ahead of the expected 2.1% increase to 53. U.S. consumer confidence registered consecutive month of gains in August. But the confidence level remained relatively low amid persistent concerns about jobs. As per the report, the percentage of consumers saying jobs are "hard to get" rose to 32% in August from 30.2% in July. Meanwhile, the percentage of consumers expecting business conditions to worsen over the next six months fell to 25.8% from 32.4%.
The U.S. Department of Commerce reported today that July new home sales rose 2.4% to a seasonally adjusted annualized rate of 515,000 from a downwardly revised June reading of 503,000 against an expected reading reading of 525,000. New home sales were down 35% from the prior year, but have shown some stabilization in recent months.
The report also stated that new-home sales are down 35.3% compared with a year ago. The months' supply of homes on the market fell to 10.1 months in July from 10.7 months in June. Median sales prices fell 6.3% in the past year to $230,700.
In a separate report from the Case-Shiller, it showed that U.S. home prices fell at a record rate in June. The Case-Shiller index of 20 major metropolitan areas for the month fell by 15.9% in June 2007. June's drop represents a new record decline. The report also showed that annual growth rate slowed in 11 of 20 cities in June.
The Indian ADRs ended mixed today. Tata Motors and HDFC Bank registered the largest gains with their ADRs gaining 3.4% and 3.2% respectively.
Trading volume was light, topping 856 million on the New York Stock Exchange, where advancing stocks outran those declining about 9 to 5. On the Nasdaq, 591 million shares were exchanged, while advancers topped decliners 5 to 4.
At the crude market on Tuesday, crude oil rose more than $1 a barrel on forecasts showing that Hurricane Gustav may enter the Gulf of Mexico, home to more than a fifth of U.S. oil production. Crude oil for October delivery rose $1.16 (1%) to settle at $116.27 a barrel
At the currency markets on Tuesday, the dollar index, which tracks the value of the dollar against a basket of other major currencies, climbed 0.6%. The index earlier traded up 1% on positive economic news at Wall Street.
For tomorrow, the economic reports expected are July Durable Goods Orders and the weekly oil inventory report.
Crude gains for third straight day
Prices give up most of their gains but still end modestly higher
Crude oil prices ended higher on Wednesday, 27 August, 2008 at Nymex thereby registering increase for the third straight day. Prices rose on concerns that tropical Storm Gustav formed in the Caribbean Sea will disrupt oil production at Gulf of Mexico. Energy Department’s weekly inventory report on crude and crude oil products also had their effects on the crude prices.
Crude-oil futures for light sweet crude for October delivery closed at $118.15/barrel (higher by $1.88 or 1.6%) on the New York Mercantile Exchange. Prices rose to a high of $120. Last week, crude prices ended higher by 0.6%. Crude had lost $15.92 (11%) in July, 2008, the biggest ever single day drop in dollars. Prices are 64% higher than a year ago. Prices reached a high of $147 on 11 July but have dropped 20% since then.
The Energy Department reported today that crude supplies fell by 100,000 barrels to 305.8 million for the week ended 23 August. Motor gasoline supplies also fell, down by 1.2 million barrels in the latest week to 195.4 million barrels. They've fallen a total of 21.7 million barrels in the past five weeks. As for distillates, inventories remained unchanged for the week at 132.1 million barrels.
At the currency markets on Wednesday, the dollar traded lower against the euro. A further spike in oil prices amid worries over the potential impact of Tropical Storm Gustav on the Gulf of Mexico triggered profit-taking on the U.S. dollar. Gains in the dollar, however, shrank after the Commerce Department reported orders for U.S.-made durable goods surged in July. The dollar index, which tracks the value of the greenback against other major currencies, slid 0.1%.
In a monthly report issued by the EIA yesterday, it said that total crude oil and products supplied, which is a good indication of domestic consumption, was at around 19.553 million barrels per day in June of this year. That was down from 20.737 million barrels per day a year earlier.
Crude prices had gained 38% in the second quarter of this year. It was the biggest quarterly increase in nine years. It ended June 2008 higher by 9.9%. For the year, crude is up by 15% till date.
Against this background, reformulated gasoline for October delivery rose 9.8 cents to close at $3.0672 a gallon while October-dated heating oil gained 5.2 cents to end at $3.2617 a gallon.
Natural gas for September delivery rose 11.6 cents (1.4%) to settle at $8.394 per million British thermal units in New York.
At the MCX, crude oil for September delivery closed at Rs 5,140/barrel, higher by Rs 36 (0.7%) against previous day’s close. Natural gas for September delivery closed at Rs 373.1/mmbtu, higher by Rs 2.6/mmbtu (0.7%).
Currency futures trading from Friday
Trading in currency futures is set to kick off on the National Stock Exchange on August 29 with over 300 members registering their names for participation.
Official sources today said besides 300 members, 10 banks also would go live on the currency future platform on the same day.
Trading will be inaugurated by Finance Minister P Chidambaram on Friday at the NSE premises.
There are many applications in the pipeline indicating enthusiasm about the new product among the member broker community, sources said.
It was not immediately known as to how many ordinary investors have enrolled themselves with their member-brokers for trading. However, sources said each member will have more than one user and thus there will be many people who will be participating on day one of the trading.
Hope Govt lifts ban on futures trading in 4 commodities: FMC
Commodity markets regulator, the Forward Markets Commission (FMC), hopes the Government may lift the ban on futures trading on four commodities next month, a top Government official said.
"I hope that trade in the recently suspended agricultural commodities can be revived," FMC's Chairman, B C Khatua, said in Bangalore at a meeting today.
In May, the Government, under pressure to control soaring inflation, suspended futures trading in soyoil, potato, rubber and chickpea for four months.
FMC had convened a meeting of representatives of Trade and Manufacturers Associations, Chambers of Commerce and Industry, Marketing Federations and Co-operatives, at Bangalore today.
Khatua, in his inaugural address, highlighted the growth of the commodity futures market in India and the various initiatives taken by the FMC for the development and regulation of the market.
He, however, stated that in the recent past, trading in agriculture commodities had slowed down. This trend could be revised through greater participation by hedgers, processors, importers, exporters and entities engaged in value-addition of agricultural commodities.
Khatua said the Indian commodity futures market, though of nascent origin in its current format, had stabilised and in some areas even surpassed markets such as the US.
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