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Tuesday, March 17, 2009
Asian equities end mostly higher
Steady buying activity seen in financials, miners and other resource stocks
Asian equities ended mostly on bullish note, with stocks in Australia, Japan and South Korea gaining for fifth day in a row as the awesome gains in the last week continued to built up on steady buying activity in financials, miners and other resource stocks. The markets also factored in the positive comments from the US Fed Chairman and the growing signs that the global financials are likely to perform in a better manner in the first quarter of 2009.
Federal Reserve Chairman Bernanke said that the recession would probably end sometime this year, if the government succeeds in supporting the financial system. This pulled the US markets sharply up in intraday moves before a flurry of sell off ahead of the weekends made the DOW end on a flat note.
Finance chiefs from the Group of 20 also vowed to work together to clean up the toxic assets that helped trigger the financial crisis and led banks to rack up more than $1 trillion in losses. Officials meeting near London this weekend outlined guidelines on how governments should rid banks of distressed securities that have devastated companies from
In Australians, the All Ordinaries rose nearly 3% as miners rode the bullish momentum. Among major miners, BHP Billiton was up 2.9% and Lihir Gold added 2.4% in Sydney,
Japan's Nikkei 225 Average rose for a third straight session, by 3.2%, to end at 7949.13, its highest level in more than a month. The bank of Japan started its two day monetary policy meeting today.
South Korea's Kospi Composite jumped 3.4%, Australia's S&P/ASX 200 advanced 3.1%, Taiwan's Taiex gained 1.4% and China's Shanghai Composite added 3%. New Zealand's NZX 50 rose 0.8%.
However, Hong Kong's Hang Seng Index slid 0.8% to snap out of a five-session rally, with investors locking in profits in late afternoon trading. India's sensex ended lower by 0.90% with Philippine shares down 0.6% and Indonesian shares lower by 0.5%.
Crude oil rebounded after early losses in Asia today. Light, sweet crude oil for April futures jumped from a low of $46.53 per barrel to trade at $47.61, up 26 cents from the previous close.
Akruti City March 2009 futures at huge premium
Turnover surges
Nifty March 2009 futures were at 2756, at a discount of 1.45 points as compared to the spot closing of 2757.45. Turnover in NSE's futures & options (F&O) segment surged to Rs 53883.76 crore from Rs 48027.96 crore on Monday, 16 March 2009.
Akruti City March 2009 futures were at huge premium at 1612.15 compared to the spot closing of 1575.25.
Reliance Industries March 2009 futures were at premium at 1303.70 compared to the spot closing of 1300.20.
State Bank of India March 2009 futures were near spot price at 950 compared to the spot closing of 950.05.
In the cash market, the S&P CNX Nifty lost 19.80 points or 0.71% at 2757.45.
Advance Tax Numbers
| Company | Jan-Mar | Jan-Mar | % Chg |
| SBI | 1418 | 1810 | 27.64 |
| BoI | 194 | 590 | 204.12 |
| Tata Steel | 300 | 406 | 35.33 |
| L&T | 170 | 275 | 61.76 |
| HDFC Bank | 250 | 275 | 10.00 |
| ICICI Bank | 250 | 250 | — |
| Dena Bank | 50 | 75 | 50.00 |
| Tata Chem | 90 | 75 | -16.67 |
| Hindalco | 150 | 70 | -53.33 |
| Grasim | 280 | 65 | -76.79 |
| TCS | 116 | 53 | -54.31 |
| LIC HF | 30 | 46 | 53.33 |
| Tech Mahindra | 0 | 35 | — |
| IndusInd | 19 | 27 | 42.11 |
| Tata Power | 43 | 7 | -83.72 |
Sensex ends lower; TCS plunges over 4%
The Sensex ended on a bearish note led by banking, IT and oil & gas stocks, while auto stocks edged higher.
The 30-share index, BSE Sensex opened with a loss of 1.53 points, at 8,942.01 on Tuesday and continued to trade in a lacklustre manner as the day progressed. It touched the mark of 9,000 in the noon trades,touching a high of 9,024.12. Sustained selling seen in select frontliners dragged the Sensex below 9,000 level to finally close on a negative note.
BSE Midcap index declined 0.16%, while Smallcap index rose 0.39%.
On global front, Asian stocks gained, as Australia said it may lower interest rates and Standard Chartered reported a strong start to 2009. Japanese benchmark index Nikkei advanced 244.98 points, or 3.18%, to end at 7,949.13 and Hong Kong`s Hang Seng index fell 98.62 points, or 0.76%, to close at 12,878.09 and Singapore`s Straits Times dropped 27.61 points, or 1.74%, to close at 1,558.71.
European stocks declined, as rising credit-card defaults at American Express overshadowed Standard Chartered`s report of a strong start to 2009.UK`s benchmark index FTSE 100 declined 14.74 points, or 0.38%, to trade at 3,849.25.French benchmark index CAC 40 fell 11.96 points, or 0.43%, to trade at 2,779.70 and Germany`s benchmark index DAX dropped 7.11 points, or 0.18%, to trade at 4,037.43. (4.08 p.m., IST).
The Sensex ended the day with a loss of 79.72 points, or 0.89% at 8,863.82 after touching a high of 9,024.12 and a low of 8,801.79. The broad-based NSE Nifty fell 19.80 points, or 0.71% at 2,757.45 after hitting a high of 2,805.60 and a low of 2,738.70.
Major gainers in the 30-share index were Tata Motors (3.40%), Hindalco Industries (2.34%), ITC (1.64%), Maruti Suzuki India (1.55%), NTPC (1.40%), and Mahindra & Mahindra (0.91%).
On the other hand, Tata Consultancy Services (4.31%), State Bank Of India(3.87%), Jaiprakash Associates (3.75%), HDFC Bank (2.27%), Ranbaxy Laboratories (2.03%), and Reliance Industries (1.98%) were the biggest losers in the Sensex.
Overall market breadth is positive. Out of the total 2,574 stocks traded at BSE, 1,330 advanced, 1,137 declined while 107 remained unchanged.
BSE Bulk Deals to Watch - March 17 2009
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
17/3/2009 532799 AKRUTI CITY OPG SECURITIES P LTD B 457742 1518.65
17/3/2009 532799 AKRUTI CITY OPG SECURITIES P LTD S 457742 1519.89
17/3/2009 532870 ANKIT METAL MAVI INVESTMENT FUND LTD. B 512000 10.00
17/3/2009 512273 ARONI COMM FOUR DIMENSIONS SECURITIES INDIA LTD B 1022500 29.55
17/3/2009 512273 ARONI COMM ASHWIN KUMAR KOTHARI SMALLER HUF S 40000 29.55
17/3/2009 512273 ARONI COMM ROHITASHWINKOTHARI S 260000 29.55
17/3/2009 512273 ARONI COMM MEENAASHWINKOTHARI S 385000 29.55
17/3/2009 512273 ARONI COMM ASHWINPANNALALKOTHARI S 140000 29.55
17/3/2009 512273 ARONI COMM JACQART FINANCIAL SERVICES LIMITED S 197500 29.55
17/3/2009 532485 BALMR LAW IN PRASHANT J PATEL B 220000 83.88
17/3/2009 532845 BHAGWATI BAN RAJSHAH ENTERPRISE PVT.LTD B 150000 22.00
17/3/2009 532845 BHAGWATI BAN MAVI INVESTMENT FUND LTD. S 150000 22.00
17/3/2009 590059 BIHAR TUBES HSBC BANK MAURITIUS LIMITED S 100000 36.00
17/3/2009 532413 CEREBRA INT VIKASH FINANCIAL SERVI PVT LTD B 70000 6.75
17/3/2009 520022 DEN SO INDIA PRASHANT J PATEL B 570000 40.40
17/3/2009 520022 DEN SO INDIA RUCHIT B. PATEL S 569740 40.40
17/3/2009 533055 EDSERV SOFT NIRMAN MANAGEMENT SERVICES PVT LTD B 352566 31.81
17/3/2009 533055 EDSERV SOFT B K SHAH CO B 73105 35.02
17/3/2009 533055 EDSERV SOFT SRI SALASAR SUPPLIER PVT LTD S 68207 31.80
17/3/2009 533055 EDSERV SOFT HANURANG VINIMAY PVT LTD S 70416 31.80
17/3/2009 533055 EDSERV SOFT MAVI BUSINESS VENTURE LTD. S 77700 31.80
17/3/2009 533055 EDSERV SOFT KISHORE KUMAR PATKI S 106000 31.81
17/3/2009 533055 EDSERV SOFT B K SHAH CO S 86500 33.69
17/3/2009 523329 ELDECO HOUS. PAPER BOX COMPANY OF INDIA S 25000 48.00
17/3/2009 532876 EVERONN SYS SUNEET LAL B 174914 147.68
17/3/2009 532876 EVERONN SYS EUREKA STOCK AND SHARE BROKING SERVICES LIMITED B 94035 148.15
17/3/2009 532876 EVERONN SYS OPG SECURITIES P LTD B 927840 150.00
17/3/2009 532876 EVERONN SYS SAM GLOBAL SECURITIES LTD B 154681 145.31
17/3/2009 532876 EVERONN SYS MONTU KIRIT SHAH B 82137 144.06
17/3/2009 532876 EVERONN SYS SUNEET LAL S 174914 147.50
17/3/2009 532876 EVERONN SYS EUREKA STOCK AND SHARE BROKING SERVICES LIMITED S 94035 148.29
17/3/2009 532876 EVERONN SYS OPG SECURITIES P LTD S 927840 150.13
17/3/2009 532876 EVERONN SYS SAM GLOBAL SECURITIES LTD S 154681 145.19
17/3/2009 532876 EVERONN SYS MONTU KIRIT SHAH S 88537 144.61
17/3/2009 531137 GEMSTONE INV SANJAY K DANG B 20000 23.00
17/3/2009 530263 GLOBAL CAP M UNIFLEX CARRYING CO. PVT LTD S 138400 18.04
17/3/2009 530263 GLOBAL CAP M CLOCK SIGN TRADING CO. PVT LTD S 140100 17.81
17/3/2009 531777 INTELLVIS SO HSBC BANK MAURITIUS LIMITED B 51033 15.00
17/3/2009 531777 INTELLVIS SO MAVI INVESTMENT FUND LTD S 51033 15.00
17/3/2009 505840 JAIPAN INDUS KAILASH CHHAPARWAL S 53209 45.02
17/3/2009 530955 KAILASH FICO BASIZ FUND SERVICE PRIVATE LIM B 100000 28.09
17/3/2009 511728 KZLEASING BHARATKUMAR N VACHHANI B 22025 70.32
17/3/2009 511728 KZLEASING HIMAT P JATANIA B 31575 71.37
17/3/2009 511728 KZLEASING RAMESH G GOKANI B 31351 70.33
17/3/2009 511728 KZLEASING ILA S MEHTA B 43449 71.58
17/3/2009 511728 KZLEASING NAINESH HIMAT JATANIA B 25500 69.40
17/3/2009 511728 KZLEASING KAMLESH H DAFTARY B 18851 69.31
17/3/2009 511728 KZLEASING NAINESH HIMAT JATANIA S 25500 71.60
17/3/2009 511728 KZLEASING KARAN MAHESHKUMAR HADVANI S 18572 71.42
17/3/2009 511728 KZLEASING KAMLESH H DAFTARY S 18800 71.40
17/3/2009 501209 MAST MEDI SY* RAMESH SARAOGI B 27000 47.94
17/3/2009 500304 NIIT LTD SWIFTCURRENT PARTNERS GLOBAL LTD B 2728613 16.65
17/3/2009 523523 RAINBOW PAPE PRIYANK GAUTAMCHAND SURANA B 43000 33.75
17/3/2009 531500 RAJESH EXPOT TIMES PUBLISHING HOUSE LIMITED S 5844000 22.01
17/3/2009 530619 RELI GLOBE SANJIV KANWAL CHAINANI B 198571 13.68
17/3/2009 530619 RELI GLOBE KRISMA INVESTMENTS PRIVATE LTD S 193170 13.68
17/3/2009 500366 ROLTA IND OPG SECURITIES P LTD B 1590845 51.45
17/3/2009 500366 ROLTA IND OPG SECURITIES P LTD S 1590845 51.51
17/3/2009 524703 SANDU PHARMA RAMESH G GOKANI B 45000 7.85
17/3/2009 530459 VALSON IND RAMESH G GOKANI B 25000 24.10
17/3/2009 531950 VERTEX SECUR RAMESH G GOKANI B 30000 9.45
17/3/2009 512022 WINRO COMMR. FOUR DIMENSIONS SECURITIES INDIA LTD B 253201 201.20
17/3/2009 512022 WINRO COMMR. ASHWIN KUMAR KOTHARI HUF S 30000 201.20
17/3/2009 512022 WINRO COMMR. ASHWIN KUMAR KOTHARI SMALLER HUF S 12200 201.20
17/3/2009 512022 WINRO COMMR. PANNA LAL C KOTHARI HUF S 56000 201.20
17/3/2009 512022 WINRO COMMR. ROHITASHWINKOTHARI S 46000 201.20
17/3/2009 512022 WINRO COMMR. MEENAASHWINKOTHARI S 57000 201.20
17/3/2009 512022 WINRO COMMR. ASHWINPANNALALKOTHARI S 20000 201.20
17/3/2009 512022 WINRO COMMR. JACQART FINANCIAL SERVICES LIMITED S 32000 201.20
NSE Bulk Deals to Watch - March 17 2009
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
17-MAR-2009,ABAN,Aban Offshore Ltd.,P R B SECURITIES PRIVATE LTD,BUY,199583,283.44,-
17-MAR-2009,BONGAIREFN,Bongaigaon Refn & Petro,EDELWEISS COMMODITIES LIMITED,BUY,1073291,41.86,-
17-MAR-2009,EDSERV,Edserv Softsystems Limite,B K SHAH CO KETAN BHAILAL SHAH,BUY,69470,33.99,-
17-MAR-2009,EDSERV,Edserv Softsystems Limite,BP FINTRADE PRIVATE LIMITED,BUY,114258,33.05,-
17-MAR-2009,EDSERV,Edserv Softsystems Limite,DINDAYAL BIYANI STOCK BROKERS LTD,BUY,70336,34.60,-
17-MAR-2009,EDSERV,Edserv Softsystems Limite,EPOCH SYNTHETICS PVT LTD,BUY,76807,33.15,-
17-MAR-2009,EDSERV,Edserv Softsystems Limite,PRASHANT JAYANTILAL PATEL,BUY,240126,35.15,-
17-MAR-2009,EDSERV,Edserv Softsystems Limite,VAIBHAV DOSHI,BUY,107693,33.04,-
17-MAR-2009,EDUCOMP,Educomp Solutions Limited,C D INTEGRATED SERVICES LTD,BUY,153519,1981.04,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,ADROIT FINANCIAL SERVICES PVT LTD,BUY,302728,146.42,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,AMBIT SECURITIES BROKING PVT. LTD.,BUY,152965,147.93,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,ARCHITA C GADA,BUY,184490,150.85,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,ASHISH AGRAWAL,BUY,134409,147.14,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,BUY,256319,149.00,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,BP FINTRADE PRIVATE LIMITED,BUY,189739,147.95,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,C D INTEGRATED SERVICES LTD,BUY,412723,145.47,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,CPR CAPITAL SERVICES LTD.,BUY,176704,146.33,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,DINESH MUNJAL(HUF),BUY,139515,147.19,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,EAST INDIA SECURITIES LTD.,BUY,105596,149.54,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,FIN BRAINS SECURITIES (INDIA) LTD.,BUY,97922,148.02,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,G RAMAKRISHNA,BUY,189539,145.35,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,GENUINE STOCK BROKERS PVT LTD,BUY,79540,153.98,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,GHALLA BHANSALI STOCK BROKERS PVT. LTD.,BUY,143539,150.93,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,HARBUX SINGH SIDHU,BUY,366851,147.43,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,JAY SURESH CHHEDA,BUY,88367,148.98,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,LATIN MANHARLAL SECURITIES PVT. LTD.,BUY,258614,145.79,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,M/S JIYA INVESTMENTS,BUY,93553,151.28,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,MANIPUT INVESTMENTS PVT LTD,BUY,421349,149.18,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,MBL & COMPANY LTD.,BUY,131103,147.52,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,NAMAN SECURITIES & FINANCE PVT LTD,BUY,117513,145.71,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,NEPTUNE FINCOT PVT LTD,BUY,143398,152.43,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,OM INVESTMENTS,BUY,627345,145.92,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,PRASHANT JAYANTILAL PATEL,BUY,97319,149.74,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,R APPALA RAJU,BUY,147000,144.18,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,SMC GLOBAL SECURITIES LTD.,BUY,135268,145.74,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,SUNEET LAL,BUY,137067,145.70,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,TRANSGLOBAL SECURITIES LTD.,BUY,359892,147.31,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,UTTAM FINANCIAL SERVICES LIMITED,BUY,78163,145.43,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,VAIBHAV DOSHI,BUY,72632,145.45,-
17-MAR-2009,ICSA,ICSA (India) Limited,NIRSHILP SECURITIES PVT. LTD.,BUY,168762,64.63,-
17-MAR-2009,ICSA,ICSA (India) Limited,TRANSGLOBAL SECURITIES LTD.,BUY,623155,63.84,-
17-MAR-2009,MBECL,Mcnally Bharat Engineerin,NATIONAL BEARING CO. (JAIPUR) LIMITED,BUY,619100,32.00,-
17-MAR-2009,ROLTA,Rolta India Ltd.,ADROIT FINANCIAL SERVICES PVT LTD,BUY,1163703,51.21,-
17-MAR-2009,ROLTA,Rolta India Ltd.,AMRAPALI CAPITAL & FINANCE SERVICES LTD,BUY,915194,51.67,-
17-MAR-2009,ROLTA,Rolta India Ltd.,ARROW WF ASIA FUND,BUY,2022000,51.60,-
17-MAR-2009,ROLTA,Rolta India Ltd.,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,BUY,987895,51.61,-
17-MAR-2009,ROLTA,Rolta India Ltd.,NIRSHILP SECURITIES PVT. LTD.,BUY,207423,51.19,-
17-MAR-2009,ROLTA,Rolta India Ltd.,OM INVESTMENTS,BUY,1297624,51.73,-
17-MAR-2009,ROLTA,Rolta India Ltd.,TRANSGLOBAL SECURITIES LTD.,BUY,809001,51.08,-
17-MAR-2009,SINTEX,Sintex Industries Ltd.,ASISH FINANCE LIMITED,BUY,836877,92.21,-
17-MAR-2009,ZANDUPHARM,Zandu Pharma works Ltd,M. B. TRADE LINK PVT. LTD.,BUY,4465,4575.00,-
17-MAR-2009,ABAN,Aban Offshore Ltd.,P R B SECURITIES PRIVATE LTD,SELL,199983,284.06,-
17-MAR-2009,BOMDYEING,Bombay Dyeing & Mfg Co.,GRANTHAM AC GMO EMERGING MARKET FUND,SELL,247620,126.52,-
17-MAR-2009,BONGAIREFN,Bongaigaon Refn & Petro,EDELWEISS COMMODITIES LIMITED,SELL,2000,42.10,-
17-MAR-2009,EDSERV,Edserv Softsystems Limite,B K SHAH CO KETAN BHAILAL SHAH,SELL,91893,34.48,-
17-MAR-2009,EDSERV,Edserv Softsystems Limite,BP FINTRADE PRIVATE LIMITED,SELL,134560,32.97,-
17-MAR-2009,EDSERV,Edserv Softsystems Limite,DINDAYAL BIYANI STOCK BROKERS LTD,SELL,70336,34.88,-
17-MAR-2009,EDSERV,Edserv Softsystems Limite,EPOCH SYNTHETICS PVT LTD,SELL,12719,34.83,-
17-MAR-2009,EDSERV,Edserv Softsystems Limite,PRASHANT JAYANTILAL PATEL,SELL,240126,34.90,-
17-MAR-2009,EDSERV,Edserv Softsystems Limite,VAIBHAV DOSHI,SELL,107693,33.22,-
17-MAR-2009,EDUCOMP,Educomp Solutions Limited,C D INTEGRATED SERVICES LTD,SELL,153519,1982.52,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,ADROIT FINANCIAL SERVICES PVT LTD,SELL,302728,146.66,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,AMBIT SECURITIES BROKING PVT. LTD.,SELL,152965,148.31,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,ARCHITA C GADA,SELL,184490,150.77,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,ASHISH AGRAWAL,SELL,134409,147.32,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,SELL,256319,149.01,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,BP FINTRADE PRIVATE LIMITED,SELL,189739,148.04,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,C D INTEGRATED SERVICES LTD,SELL,412723,145.67,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,CPR CAPITAL SERVICES LTD.,SELL,176704,146.48,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,DINESH MUNJAL(HUF),SELL,139515,147.84,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,EAST INDIA SECURITIES LTD.,SELL,105596,149.24,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,FIN BRAINS SECURITIES (INDIA) LTD.,SELL,97922,148.12,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,G RAMAKRISHNA,SELL,189539,145.33,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,GENUINE STOCK BROKERS PVT LTD,SELL,79540,154.10,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,GHALLA BHANSALI STOCK BROKERS PVT. LTD.,SELL,143539,151.59,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,HARBUX SINGH SIDHU,SELL,366851,147.53,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,JAY SURESH CHHEDA,SELL,88367,149.18,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,LATIN MANHARLAL SECURITIES PVT. LTD.,SELL,258614,145.75,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,M/S JIYA INVESTMENTS,SELL,93553,151.41,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,MANIPUT INVESTMENTS PVT LTD,SELL,421349,149.43,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,MBL & COMPANY LTD.,SELL,131103,147.75,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,NAMAN SECURITIES & FINANCE PVT LTD,SELL,117513,145.95,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,NEPTUNE FINCOT PVT LTD,SELL,143398,152.61,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,OM INVESTMENTS,SELL,627345,146.10,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,PRASHANT JAYANTILAL PATEL,SELL,97319,150.53,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,R APPALA RAJU,SELL,147000,145.41,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,SMC GLOBAL SECURITIES LTD.,SELL,135268,146.14,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,SUNEET LAL,SELL,139467,145.01,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,TRANSGLOBAL SECURITIES LTD.,SELL,366992,147.33,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,UTTAM FINANCIAL SERVICES LIMITED,SELL,78163,145.62,-
17-MAR-2009,EVERONN,Everonn Systems India Lim,VAIBHAV DOSHI,SELL,82632,142.70,-
17-MAR-2009,HDIL,Housing Development and I,GMO EMERGING MARKETS FUND,SELL,1422400,72.36,-
17-MAR-2009,ICSA,ICSA (India) Limited,NIRSHILP SECURITIES PVT. LTD.,SELL,238824,64.98,-
17-MAR-2009,ICSA,ICSA (India) Limited,TRANSGLOBAL SECURITIES LTD.,SELL,629781,63.68,-
17-MAR-2009,MBECL,Mcnally Bharat Engineerin,UNIVERSAL TRADING COMPANY LTD.,SELL,619100,32.00,-
17-MAR-2009,ROLTA,Rolta India Ltd.,ADROIT FINANCIAL SERVICES PVT LTD,SELL,1163704,51.16,-
17-MAR-2009,ROLTA,Rolta India Ltd.,AMRAPALI CAPITAL & FINANCE SERVICES LTD,SELL,916994,51.66,-
17-MAR-2009,ROLTA,Rolta India Ltd.,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,SELL,987895,51.70,-
17-MAR-2009,ROLTA,Rolta India Ltd.,NIRSHILP SECURITIES PVT. LTD.,SELL,930678,52.15,-
17-MAR-2009,ROLTA,Rolta India Ltd.,OM INVESTMENTS,SELL,1297624,51.77,-
17-MAR-2009,ROLTA,Rolta India Ltd.,TRANSGLOBAL SECURITIES LTD.,SELL,821301,50.73,-
17-MAR-2009,SINTEX,Sintex Industries Ltd.,ASISH FINANCE LIMITED,SELL,836877,97.33,-
17-MAR-2009,ZANDUPHARM,Zandu Pharma works Ltd,VAIPA PHARMACEUTICALS PRIVATE LIMITED,SELL,4965,4576.01,-
Post Session Commentary - March 17 2009
Intense selling pressure during final trading hours forced domestic market to close in red terrain. Key benchmark indices slipped on account of profit booking by investors from last session’s gains. Along with this, negative European markets and also fueled the unhelpful attitude. Further, sentiments were also weighed down by lower US index futures.
The Indian market opened flat after successive three days of gain, mirroring mixed cues from the global markets. Monday, the US stock markets ended its four sessions winning steak to close in negative due to weakness among the technology space and rising concern over credit card defaults. Benchmark indices turned volatile and continued to witness instability due to short of any specific news. Further, market slipped into red to touch days low in afternoon trade on strong selling witnessed over key stocks. At the end, market concluded its journey with losses on immense sell off. BSE Sensex ended below 8,900 mark after breaching the 9,000 and NSE Nifty below 2,800 level after touching 2,800 during the trading. From the sectoral front, most of the selling was seen in Bank, IT, Oil & Gas, Teck, Consumer Durable and Reality stocks. However, BSE Mid Cap and Small Cap stocks remained flat. Further, there was some support from Auto, Power, FMCG and Metal stocks.
Among the Sensex pack 20 stocks ended in red territory and 10 in green. The market breadth indicating the overall health of the market was strong as 1330 stocks closed in green while 1137 stocks closed in red and 107 stocks remained unchanged in BSE.
The BSE Sensex closed lower by 79.72 points at 8,863.62 and NSE Nifty ended down by 19.8 points at 2,757.45. BSE Mid Caps ended with loss of 4.21 points at 2,696.35 and BSE Small Caps ended with gain of 11.82 points 3,010.31. The BSE Sensex touched intraday high of 9,024.12 and intraday low of 8,801.79.
Losers from the BSE Sensex pack are TCS Ltd (4.31%), SBI (3.87%), JP Associates (3.75%), HDFC Bank (2.27%), Ranbaxy Lab (2.03%), Reliance (1.98%), HDFC (1.77%), DLF Ltd (1.76%) and Infosys Tech (1.76%).
Gainers from the BSE Sensex pack are Tata Motors (3.40%), Hindalco (2.34%), ITC Ltd (1.64%), Maruti Suzuki (1.55%), NTPC Ltd (1.40%) and M&M Ltd (0.91%).
Meanwhile, the corporate advance tax payment for the forth installment of fiscal year 2009 observed a mixed trend. On one hand, RIL and TATA Steel have paid lower tax for the said duration and on the other State Bank of India and Bank of India have paid higher advance tax. However, Indian Oil Corporation has made a sharply lower advance tax payment. The advance tax payment of RIL fell 16.47% to Rs 370 crore in Q4 March 2009 over Q4 March 2008 along with Tata Steel fell 23.33% to Rs 230 crore while SBI''s tax payment has surged 57.66% to Rs 1,810.crore.
On the global markets front the Asian markets which opened before the Indian market, ended mixed. Most of the Asian stocks extended gains as investors dispensed into banking shares due to relief in worries about the global financial turmoil. Shanghai Composite, Nikkei 225, and Seoul Composite ended higher by 65.04, 244.98 and 38.42 points at 2,218.43, 7,949.13 and 1,163.88 respectively. However, Hang Seng and Straits Times index lost 98.62 and 27.29 points at 12,878.09 and 1,559.03 respectively.
European markets which opened after the Indian market are trading lower. In London FTSE 100 is trading down by 25.58 points at 3,838.41 and in Frankfurt the DAX index is trading lower by 21.40 points at 4,023.14.
The BSE Bank index closed with decrease of (2%) or 81.63 points at 4,005.73 on worries for rising defaults in economic downturn. Scrips that lost are Axis Bank (4.93%), Punjab National Bank (4.13%), Bank of Baroda (3.97%), SBI (3.87%) and Karnataka Bank (3.56%).
The BSE IT index ended down by (1.72%) or 37.87 points at 2,161.30 on fears a weak global economy would cut the amount firms spent on technology. Losers are TCS Ltd (4.31%), Oracle Fin (3.44%), Aptech Ltd (2.25%), Infosys Tech (1.76%) and Wipro Ltd (0.42%).
The BSE Oil & Gas index ended lower by (1.46%) or 91.65 points to close at 6,206.61. Essar Oil Ltd (3.50%), Reliance Natural Resources (3.28%), IOC Ltd (2.10%), Gail India (2.09%) and Reliance (1.98%) ended in negative territory.
The BSE Teck index lost by (1.05%) or 18.30 points to close at 1,718.52. Losers are Tata Teleser (9.61%), Balaji Tele (5.98%), IBN18 (4.55%), Sun TV (3.54%) and Oracle Fin (3.44%).
The BSE Auto stocks witnessed rally as advanced by (1.06%) or 30.05 points to close at 2,854.77. Main gainers are Tata Motors (3.40%), MRF Ltd (3.08%), Apollo Tyre (2.55%), Cummins Ind (2.14%) and Maruti Suzuki (1.55%).
The BSE Power index gained (0.73%) or 12.41 points to close at 1,710.67. Main gainers are GMR Infra (5.90%), Crompton Greaves (5.01%), Neyveli LIG (3.14%), Suzlon Energy (2.84%) and NTPC Ltd (1.40%).
Bharti Airtel fell by 0.15% despite reports that the company will restructure its businesses into nine verticals under different chief executives, as it looks to expand into areas beyond its mainstay, voice telephony.
Praj Industries Ltd ended lower by 1.43%. The company has received an order for downstream processing equipment from Range Fuels, USA, of approx. Rs 20 crores.
LIC Housing Finance Ltd (LICHFL) ended down by 2.66%. The company cut its home loan rates by 0.75 per cent for the existing customers with effect from from April 1. The borrowers can now avail loans for a rate of 10- 10.5 per cent as against 10.75-11.25 per cent earlier.
Tata Consultancy Services slipped 4.31% on lower advance tax payment in the fourth installment.
Bank of India lost 3.28% despite reports it had paid advance tax of Rs. 590 crore for 4QFY09 sharply higher than 4QFY08.
MTNL surged 3.34% on reports of the company’s restructuring plans. The company is planning to spin off its real estate and mobile towers into a separate arm.
Pull-back rally snaps
The market cooled off after having gains for three consecutive sessions that had lifted Sensex above 9000. Selling commenced after Sensex touched a new intra-day high of 9024 in early trades. Losing over 50 points by mid-morning, the market remained negative, but came close to erasing its losses in afternoon. However, the mood turned more bearish towards the close as selling in information technology, banking, oil & gas and teck stocks dragged the index around 8800 mark to an intra-day low of 8802. Sensex finally ended the session 0.89% or 80 points down at 8864, while Nifty lost 20 points to close at 2757.
Market breadth was positive. Of the 2,574 scrips traded on the BSE, 1,330 stocks advanced, whereas 1,137 stocks declined. One hundred and seven stocks ended unchanged. Of the 13 sectoral indices on BSE nine ended negative. BSE Bankex led the slump shedding 2% for the day. BSE IT, BSE Oil & Gas, BSE Teck and BSE CD lost over 1% each.
Index heavyweight Tata Consultancy Services triggered a major sell-off in the market and the stock tumbled 4.31% to Rs497.40. Among other major losers State Bank of India dropped 3.87% at Rs949.60, JP Associates declined by 3.75% at Rs74.35, HDFC Bank lost 2.27% at Rs825.40, Ranbaxy Laboratories shed 2.03% at Rs144.95, Reliance Industries slumped by 1.98% at Rs1300.35, HDFC slipped by 1.77% at Rs1364.05 and DLF dipped by 1.76% at Rs159.10. Infosys, Larsen & Toubro, ACC, Grasim Industries, Sun Pharmaceutical Industries and Hindustan Unilever lost over 1% each. However, Tata Motors managed to report gains and moved up by 3.40% at Rs172.05 while Hindalco Industries added 2.34% at Rs43.70.
Over 1.92 crore shares of Rolta India changed hands on BSE followed by Unitech (1.81 crore shares), Reliance Natural Resources (1.65 crore shares), Cals Refineries (1.40 crore shares) and Suzlon Energy (1.31 crore shares).
Market snaps three-day winning streak
The key benchmark indices slipped on profit taking after solid gains in the last three trading sessions. IT and realty stocks were fell even as auto stocks gained. Index heavyweight Reliance Industries slipped. The BSE 30-share Sensex lost 79.72 points, or 0.89%, up close to 60 points from the day's low but off about 160 points from the day's high. The market weakened soon after the Sensex breached the psychological 9,000 level in early afternoon trade. The barometer index settled below the 9,000 mark.
Volatility was high today as the key benchmark indices moved between the positive and negative zone in early trade. Profit taking after a near 10% surge in the BSE Sensex in the past three trading sessions, pulled the market lower in morning trade.
The market staged a strong rebound as buying by foreign funds, data showing a surge in foreign direct investment in India in January 2009, and preliminary data on advance tax payment by India Inc showing pockets of strength in a slowing economy, boosted sentiment. Firm Asian markets also supported the rally. The BSE Sensex hit the psychological 9,000 mark in early afternoon trade.
The market weakened in afternoon trade as investors cashed in on gains after a recent solid surge in share prices. It extended losses in volatile mid-afternoon trade on weak European markets. The market cut losses in late trade.
The upside on the domestic bourses would be capped in the next two months due to political uncertainty ahead of parliamentary election to be held between mid-April 2009 to mid-May 2009.
Foreign funds bought a net $26 million of Indian stocks last week, compared with net sales of $543 million in the previous five-day period, according Securities and Exchange Board of India data. Foreign institutional investors (FIIs) have pressed heavy sales in the past few days.
As per provisional data released by the stock exchanges, FIIs bought shares worth a net Rs 415.12 crore today, 17 March 2009 while domestic funds sold shares worth a net Rs 152.70 crore.
Meanwhile, FIIs have responded enthusiastically to the government's decision to increase the cumulative investment limit in corporate debt from $ 6 billion to $ 15 billion. In an open bidding held at the National Stock Exchange (NSE) today, 17 March 2009, a total of 24 bidders were allocated investments of Rs 29350 crore, the highest ever investment allocation by FIIs in India. In comparison, the net investment of FIIs in 2008 was only Rs 12069 crore. Since January 2009, FII's net investment in debt instrument has fallen by Rs 634 crore.
As per the Securities and Exchange Board of India (Sebi) data, $8 billion (Rs 41,000 crore) was available for allocation to FIIs and their sub-accounts in an open bidding platform.
Attractive interest rates have lured foreign funds to Indian debt market. For instance, corporate debt returns in the US are 1-1.5%, whereas in India, the rates are as high as 8-9%. Bonds floated by state-run firms fetch yields in the range of 9.30%, which are about 300 basis points higher than 10-year G-Sec yields. As per reports, FIIs are likely to invest in attractive PSU bonds floated by quasi-government entities like Power Finance Corporation and Rural Electrification Corporation.
Meanwhile, foreign direct investment (FDI) in India in January 2009 was up 55% at $2.73 billion from $1.76 billion for the same month in the preceding year. Up to September this fiscal year, the monthly inflows were in excess of $2 billion. However, the following three months witnessed a sharp dip in the overseas investment, due to the backdrop of the global financial crisis. The January figures bring a renewed hope that India is back on the radar of global investors.
Corporate earnings indications from the fourth quarter advance tax payout seems to be a mixed bag. Banking and insurance firms have paid higher taxes in the fourth installment. But India's biggest private sector firm and oil refiner Reliance Industries (RIL), India's biggest software exporter TCS and India's biggest dedicated housing finance firm in terms of revenue HDFC have paid lower advance tax.
Advance tax payment gives indication on the outlook on earnings. Thus if a company pays higher advance tax, it could indicate a good financial performance for the quarter and vice versa. India's biggest engineering & construction firm by revenue L&T has paid 61.76% higher advance tax in the fourth installment whereas metal producer Hindalco has paid 53.3% lower advance tax.
European shares fell on Tuesday, snapping a five-day winning streak as banks declined after data showed an increase in US credit card defaults. Oil shares tracked a fall in crude. The key benchmark indices in France, Germany and UK were down by between 0.98% to 1.96%.
Asian shares rallied on Tuesday despite a slight pullback on Wall Street, with financials rallying for another day in many markets amid hopes governments would take further action to deal with the toxic debt still plaguing the sector. Key benchmark indices in Japan, Hong Kong, China, South Korea, Taiwan rose by between 1.41% to 3.41%. Key benchmark indices in Hong Kong and Singapore fell by between 0.76% to 1.72%.
The rally in financial shares gathered pace following reports that Standard Chartered Bank, which has a strong emerging-markets presence, didn't plan any layoffs or restructuring and reiterated its strong capital position. Sentiment for financial has been bolstered after major global banks, including Citigroup and Bank of America, last week, said they may not need further capital injections from the US government. An HSBC Holdings official said the banking giant won't need a bailout from the UK.
The Nikkei newspaper Monday reported the Japanese central bank was considering purchasing junior debt issued by domestic banks to help improve their capital and support the financial system. The government, through its various arms, is also reportedly moving to inject public funds in some regional banks, in addition to providing low-cost loans to non-financial companies.
Trading in US index futures indicated the Dow could fall 4 points at the opening bell on Tuesday, 17 March 2009. Alcoa tumbled 11.6% in after hours trading after the largest US aluminum producer cut its dividend 82% and launched initiatives to reduce costs by more than $2.4 billion annually by 2010.
The BSE 30-share Sensex was down 79.72 points, or 0.89%, to 8,863.82. At the day's high of 9,024.12, the Sensex gained 80.58 points in early afternoon trade, its highest level since 19 February 2009. At the day's low of 8,801.79, Sensex fell 141.75 points in mid-afternoon trade.
The S&P CNX Nifty was down 19.80 points or 0.71% to 2,757.45.
The BSE Sensex had risen 783.14 points or 9.59% in the past three trading sessions to 8,943.54 on 16 March 2009 from a 3-year closing low of 8,160.40 on 9 March 2009. The Sensex is down 783.49 points or 8.12% in calendar 2009 from its close of 9,647.31 on 31 December 2008. The S&P CNX Nifty is down 201.70 points or 7.44% in calendar 2009 from its close of 2,959.15 on 31 December 2008.
The BSE clocked a turnover of Rs 3,956 crore, higher than Rs 3,504.97 crore on Monday, 16 March 2009.
Nifty March 2009 futures were at 2756, at a discount of 1.45 points as compared to the spot closing of 2757.45. Turnover in NSE's futures & options (F&O) segment surged to Rs 53,883.76 crore from Rs 48,027.96 crore on Monday, 16 March 2009.
The market breadth, indicating the overall health of the market, was positive. On BSE 1,347 shares advanced as compared with 1,162 that declined. A total of 62 shares remained unchanged. The breadth was much stronger in early trade.
The BSE Mid-Cap index down 0.16% and BSE Small-Cap index rose 0.39%. Both the indices outperformed the Sensex.
The BSE Auto index (up 1.06%), the BSE Power index (up 0.73%), the BSE FMCG index (up 0.57%), the BSE Metal index (up 0.13%), the BSE PSU index (down 0.28%), the BSE Healthcare index (down 0.3%), the BSE Capital Goods index (down 0.39%), the BSE Realty index (down 0.83%) outperformed the Sensex.
The BSE Bankex (down 2%), the BSE IT index (down 1.72%), the BSE Oil & Gas index (down 1.46%), the BSE TECk index (down 1.05%), the BSE Consumer Durables index (down 0.94%) underperfomed the Sensex.
From the 30 share Sensex pack 20 stocks fell while rest gained.
India's largest private sector company by market capitalization and oil refiner Reliance Industries (RIL) fell 1.98% to Rs 1,300.35 as RIL's advance tax payment fell 16.47% to Rs 370 crore in Q4 March 2009 over Q4 March 2008. The stock came off the day's high of Rs 1,341.75.
Banking stocks fell on fears of rising defaults in a slowing economy. The stocks were volatile. India's second largest private sector bank by operating income HDFC Bank fell 2.27% to Rs 825.40, off the day's low of Rs 808.80. Reports suggest Oman's largest lender Bank Muscat will sell its entire stake in HDFC Bank. HDFC Bank's advance tax payment rose 10% to Rs 275 crore in Q4 March 2009 over Q4 March 2008. Its ADR fell 1.6% on Monday.
India's largest bank in terms of assets and branch network State Bank of India fell 3.87% to Rs 949.60, off the day's high of Rs 968. Its advance tax payment jumped 27.64% to Rs 1810 crore in Q4 March 2009 over Q4 March 2008.
India's largest private sector bank by net profit ICICI Bank rose 0.46% to Rs 324.15, off the day's low of Rs 315.15. Its American depository receipts (ADR) jumped 7.12% on Monday, 16 March 2009. Its advance tax payment remained unchanged at Rs 250 crore in Q4 March 2009 when compared to Q4 March 2008.
Outsourcing focussed IT firms fell as fears a weak global economy would cut the amount firms spent on technology off a weak rupee. India's largest software services exporter by sales TCS fell 4.31% as the company's advance tax payment fell 54.3% to Rs 53 crore in Q4 March 2009 over Q4 March 2008. The company during trading hours on Monday said its promoter Tata Sons has pledged more than 12.06 crore shares or 12.33% of the equity capital of the firm.
India's third largest software services exporter, Wipro fell 0.42%. Recently its unit Wipro Infotech won an outsourcing contract worth Rs 1,182 crore from the Employees State Insurance Corporation (ESIC). Its ADR rose 0.96% on Monday.
India's second largest software services exporter Infosys Technologies fell 1.76%. Its ADR fell 0.91% on Monday. Infosys chief and co-founder Mr S Gopalakrishnan said on Sunday, 15 March 2009, the Indian IT industry would tide over the current downturn and might surpass the US in terms of having the largest number of IT professionals in the world in the next three years.
India's fifth largest IT major by sales HCL Technologies fell 0.39%. The company secured a contract worth $350 million on Monday, 16 March 2009.
The Indian rupee turned weak as stocks weakened. The partially convertible rupee was at 51.48 per dollar, compared to Monday's close of 51.385/395. The rupee has declined sharply in the past few days. It hit a record low beyond 52 a dollar recently. A weak rupee boosts revenues of IT firms in rupee terms as IT companies earn a lion's share of revenue from exports.
Rate sensitive realty stocks fell on reports falling interest rates have failed to revive housing demand. DLF, Indiabulls Real Estate, Peninsula Land, Unitech, Housing Development & Infrastructure fell by between 1.33% to 4.53%. Most of the realty deals including sale of commercial property and housing sales is driven by finance.
India's largest steel maker by sales Tata Steel fell 0.12% even as the company's advance tax payment rose 35.33% to Rs 406 crore in Q4 March 2009 over Q4 March 2008.
India's largest aluminum maker by sales Hindalco Industries rose 2.34% even as the company's advance tax payment fell 53.33% to Rs 70 crore in Q4 March 2009 over Q4 March 2008.
Some of the FMCG stocks rose on expectations of better Q4 March 2008 results following reports of higher advance tax payment by these firms. Ruchi Soya, Britannia Industries,ITC and United Spirits rose by between 0.13% to 7.02%. But India's largest FMCG firm by sales Hindustan Unilever fell 0.74% even as the company's advance tax payment rose 30% to Rs 130 crore in Q4 March 2009 over Q4 March 2008.
Some healthcare stocks, too, rose on expectations of better Q4 March 2008 results on reports of higher advance tax payment by these firms. Biocon, Glenmark Pharmaceuticals, Lupin, Matrix Laboratories rose by between 1.97% to 7.48%.
India's largest engineering and construction firm by sales Larsen & Toubro (L&T) fell 1.45% even as the company's advance tax payment rose 61.76% to Rs 275 crore in Q4 March 2009 over Q4 March 2008.
India's largest cement maker by sales ACC fell 1.12% even as it paid 36.9% higher advance tax at Rs 319 crore in the March 2009 quarter over the March 2008 quarter.
Diversified firm Grasim Industries fell 1.01% as company's advance tax payment fell 76.79% to Rs 65 crore in Q4 March 2009 over Q4 March 2008.
Auto shares rose on hopes lower interest rates and fall in fuel prices would spur demand for vehicles which is mainly driven by finance. Hero Honda Motors, Mahindra & Mahindra and Maruti Suzuki India rose by between 0.91% to 1.55%.
India's largest commercial vehicle maker by sales Tata Motors rose 3.4% even as it paid no tax in Q4 March 2009 compared to Rs 75 crore in March 2008.
Jai Corp galloped 5.52% after 17.80 lakh shares, or 0.99% equity of the company changed hands in two block deals on the BSE and the NSE.
Asian Paints gained 2.47% after the company said the promoters revoked a portion of the shares they had pledged.
Rolta India clocked the highest volume of 1.92 crore shares on BSE. Unitech (1.81 crore shares), Reliance Natural Resources (1.65 crore shares), Cals Refineries (1.4 crore shares) and Suzlon Energy (1.31 crore shares) were the other volume toppers in that order.
Akruti City clocked the highest turnover of Rs 459.22 crore on BSE. ICICI Bank (Rs 304.11 crore), Reliance Industries (Rs 252.64 crore), Educomp Solutions (Rs 184.36 crore) and Everonn Systems (Rs 136.62 crore) were the other turnover toppers in that order.
Pre Session Commentary - March 17 2009
Today domestic markets are likely to open positive as the Asian markets are trading mostly in green as well as tracking the yesterday’s strong rally. However, the market may turn lackluster as the day progress and will look for some cues to take further directions. There in no specific news that could drive the markets and therefore one could witness some profit booking. The market will be keeping an eye on the two-day meeting of the Fed policy makers starting today to discuss the interest rates. Therefore, there could be some volatile trend during the trading session.
On Monday, the domestic markets opened shy and volatile, however later it managed to close with phenomenal gains. The global cues were encouraging and the positive outlook of US financial sector pumped the morale of domestic investors. Phenomenal buying was witnessed across broader level as even the bottom line stocks were in the lime light. Majority of Asian Markets were trading northwards and the phenomenal positive opening of European markets reinforced the confidence of domestic investors. Sectors like Realty, Oil & Gas, Bankex, PSU, FMCG and CD gained phenomenally by 5.35%, 3.44%, 2.86%, 2.84%, 2.73% and 2.72% respectively. During the session we expect the markets to be trading volatile.
The BSE Sensex closed high by 186.93 points at 8,943.54 and NSE Nifty gained by 58 points at 2,777.25. The BSE Mid Cap and Small Cap closed with gains of 60.20 points and 64.43 points at 2,700.56 and 2,998.49 respectively. The BSE Sensex touched intraday high of 8,955.73 and intraday low of 8,697.46.
On Monday, the US stock markets ended its four days winning steak to close negative due to weakness among the technology space and rising concern over rising credit card defaults. Profit booking by investors from last week’s gains also contributed to fall. However, the financial stocks continued its rally to fuel gains in broader market. US light crude oil for April delivery grew by $1.10 to settle at $47.35 a barrel on the New York Mercantile Exchange.
The Dow Jones Industrial Average (DJIA) closed down by 7.01 points at 7,216.97, the NASDAQ Composite (RIXF) index lost 27.48 points to close at 1,404.02 and the S&P 500 (SPX) dropped by 2.66 points to close at 753.89.
Today major stock markets in Asia are trading mostly up. Hang Seng is higher by 6.82 points to 12,983.53, Shanghai composite is also up by 31.43 points at 2,184.72. Further, South Korea''s Seoul Composite gained 18.97 points at 1,144.43 and Japan''s Nikkei is higher by 114.67 points to 7,818.82. However, Singapore''s Strait Times is down by 16.34 points at 1,569.98.
Indian ADRs ended slightly mixed. In technology sector, Satyam ended lower by 5.03% along with Infosys by 0.91%. Further, Wipro gained 0.96 while Patni Computers closed down by 4.09%. In banking sector ICICI Bank gained 7.12% while HDFC Bank lost 1.60%. In telecommunication sector, Tata Communication dropped by 3.21% while MTNL advanced by 7.56%. Further, Sterlite Industries increased by 2.40%.
The FIIs on Monday stood as net buyers in equity and debt. Gross equity purchased stood at Rs 2,105 Crore and gross debt purchased stood at Rs 1,038.50 Crore, while the gross equity sold stood at Rs 1,913.60 Crore and gross debt sold stood at Rs. 952.50 Crore. Therefore, the net investment of equity and debt reported were Rs 191.40 Crore and Rs 86 Crore respectively.
On Monday, the Indian rupee closed at 51.40/52, 0.21% stronger than its previous close of 51.51/52. The phenomenal gain in stock markets helped rupee appreciate on expectations of foreign money inflow.
On BSE, total number of shares traded were 30.38 Crore and total turnover stood at Rs 3,504.97 Crore. On NSE, total number of shares traded were 62.88 Crore and total turnover was Rs 9,501.1 Crore.
Top traded volumes on NSE Nifty – Unitech with 52869203, Suzlon with 23595471 shares, ICICI Bank with 22200212 shares, SAIL with 14233356 shares followed by DLF with 14055135 shares.
On NSE Future and Options, total number of contracts traded in index futures was 888070 with a total turnover of Rs 11,711.21 Crore. Along with this total number of contracts traded in stock futures were 495518 with a total turnover of Rs 13,391.32 Crore. Total numbers of contracts for index options were 1554659 with a total turnover of Rs 21,245.41 Crore and total numbers of contracts for stock options were 55181 and notional turnover was Rs 1,680.02 Crore.
Today, Nifty would have a support at 2,684 and resistance at 2,839 and BSE Sensex has support at 8,672 and resistance at 9,104.
Market may remain volatile
After registering the gains of 200 points in the yesterdays trade, the market is likely to exhibit weak trends on the back of a strong intra-day volatile moves. The fall in US markets and mixed Asian indices in morning trades also likely to put pressure on the domestic indices. However, the FIIs have turned net buyers of equities in the last session may help the investors' sentiment remain positive. On the upside, the Nifty could test around the 2800 level and may witness support around the 2750 level. The Sensex has a likely support at 8800 and may test higher levels of 9095.
US indices fell marginally on Monday, as tech selling countered a bank share-led rally, with the Dow Jones sliding over 7 points to close at 7217 while the Nasdaq slipping by 27 points at 1404 amid weak tech stocks.
Indian ADRs had a mixed outing on US bourses. Satyam, Rediff ,Patni Computer, VSNL, HDFC Bank, Tata Motors and Infosys dropped around 1-5% each. While, ICICI Bank, MTNL, Dr Reddy, and Wipro were up around 1-7% each.
Crude oil prices in the global market moved up on Monday. The Nymex light crude oil for April series gained by $1.10 at $47.35 per barrel. In the commodity segment, the Comex gold for April delivery moved down by $8.10 to settle at $922 an ounce.
Profit taking may cap gains
The market may extend gains on the back of mostly higher Asian stocks and on preliminary data on advance tax payment of India Inc showing pockets of strength in a slowing economy. However, profit taking after a near 10% surge in the BSE Sensex in the past three trading sessions may cap gains. The upside on the domestic bourses will be capped in the next two months due to political uncertainty ahead of parliamentary election to be held mid-April 2009 to mid-May 2009.
Corporate earnings indications from the fourth quarter advance tax payout seems to be a mixed bag. Banking and insurance firms have paid higher taxes in the fourth installment. But India's biggest private sector firm and oil refiner Reliance Industries (RIL), India's biggest software exporter TCS and India's biggest dedicated housing finance firm in terms of revenue HDFC have paid lower advance tax.
Advance tax payment gives indication on the outlook on earnings. Thus if a company pays higher advance tax, it could indicate a good financial performance for the quarter and vice versa. India's biggest engineering & construction firm by revenue L&T has paid 61.76% higher advance tax in the fourth installment even as metal producer Hindalco has paid 53.3% lower advance tax.
Asian shares were mostly higher Tuesday despite a slight pullback on Wall Street, with financials rallying for another day in many markets amid hopes governments would take further action to deal with the toxic debt still plaguing the sector.
Trading in US index futures indicated the Dow could slide 12 points at the opening bell on Tuesday, 17 March 2009. Alcoa tumbled 11.6% in after hours trading after the largest US aluminum producer cut its dividend 82% and launched initiatives to reduce costs by more than $2.4 billion annually by 2010. With high aluminum inventories and low pricing, Alcoa has scrambled to cut capacity and find buyers for some of its downstream businesses.
April Nymex crude oil futures were lower on profit-taking in Asia triggered by a 2.4% overnight rise in New York. Crude was down 34 cents at $47.01 a barrel on Globex
Nifty March 2009 futures near spot price
Turnover rises
Nifty March 2009 futures were at 2777.40, near the spot price of 2777.25.
Turnover in NSE's futures & options (F&O) segment rose to Rs 48,027.96 crore from Rs 47,689.67 crore on Friday, 13 March 2009.
Reliance Industries March 2009 futures were at premium at 1329 compared to the spot closing of 1327.60.
ICICI Bank March 2009 futures were near spot price at 322.80 compared to the spot closing of 322.80.
DLF March 2009 futures were at discount at 158.90 compared to the spot closing of 161.95.
In the cash market, the S&P CNX Nifty gained 58 points or 2.13% at 2777.25.
A dull end for a bright day at Wall Street
Dow and S&P settle with minor losses but technology sector drags
A strong rally at Wall Street ran out of gas in the final hour of trading on Monday, 16 March, 2009. The financial sector was the sole market mover today. The sector had fuelled a strong rally earlier in the day but then it gave up all its gains pushing the indices back in the negative territory. Stocks would have ended higher for fifth straight day if not for the late hour sell-off.
After being up by more than 150 points earlier during the day, The Dow Jones Industrial Average ended lower by 7 points at 7,216, the Nasdaq closed lower by 28 points at 1,404 and the S&P 500 closed lower by 3 points at 753. Dow had started the day 65 points up earlier during the day
Market rallied earlier during the day after reports hit the wires that Barclays has made a good start for the year 2009. There were also reports that HSBC will not be requiring any more capital. These good news came in the back of the reports that other banks had been profitable in the first two months of the current year.
But the technology sector failed to display any sort of support to the market today. Even when Dow and S&P 500 were trading higher, Nasdaq failed to catch up with its counterparts.
Among major economic news at Wall Street today, the Commerce Department reported today that February industrial production declined 1.4%, reflecting a weak demand environment, which is essentially in-line with the consensus 1.3% decline. It was a slower rate of decline than the downwardly revised 1.9% decline registered in January. Capacity utilization dipped to 70.9% from 71.9%.
Over the weekend, Fed Chairman Bernanke said that the economy could recover by next year with support from lawmakers and the public. Bernanke also indicated an end to the crisis depends a lot on the financial system.
Hopes of global economic recovery and OPEC deciding to keep current production level sent crude prices higher today. Prices fell earlier today as traders digested the news that OPEC's meeting at Vienna this weekend was inconclusive regarding any further production cut. On Monday, crude-oil futures for light sweet crude for April delivery closed at $47.35/barrel (higher by $1.1 or 2.5%) on the New York Mercantile Exchange. Earlier during the day, prices dropped as much as 3%.
Tomorrow the main important economic reports expected are building permits and house starts and the PPI reports.
Crude pares earlier losses
Prices rise more than 2% after OPEC keeps production levels unchanged
Hopes of global economic recovery and OPEC deciding to keep current production level sent crude prices higher on Monday, 16 March, 2009. Prices fell earlier today as traders digested the news that OPEC's meeting at Vienna this weekend was inconclusive regarding any further production cut.
On Monday, crude-oil futures for light sweet crude for April delivery closed at $47.35/barrel (higher by $1.1 or 2.5%) on the New York Mercantile Exchange. Earlier during the day, prices dropped as much as 3%. Last week, crude ended higher by 1.6%. For the month of February, crude prices had ended higher by 1.5%.
Prices had remained extremely volatile last week. Prices reached a high of $147 on 11 July, 2008 but have dropped almost 65% since then. Year to date, in 2009, crude prices are higher by 10.7%. On a yearly basis, crude prices are lower by 58%.
Stocks at US rallied today on reports that the recession in which US has sunk might end by the end of this year provided the fact that proper steps are taken to save the economy from current financial turmoil.
Last Friday, the IEA said in the monthly report that global oil supply in February is estimated at 83.9 million barrels a day, down 1 million barrels from a month ago and 3.4 million barrels from a year ago. The agency also lowered its forecast for this year's global oil demand to 84.4 million barrels a day, 1.5%, or 1.2 million barrels, lower than a year ago.
Also at the Nymex on Monday, April reformulated gasoline gained 1.1% to $1.3673 a gallon and April heating oil rose 1.3%, to $1.2130 a gallon.
April natural-gas futures dropped 2.1% to $3.85 per million British thermal units.
Crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex.
At the MCX, crude oil for March delivery closed at Rs 2,453/barrel, higher by Rs 36 (1.5%) against previous day's close. Natural gas for February delivery closed at Rs 198.4/mmbtu, lower by Rs 5.5/mmbtu (2.7%).
Daily News Roundup - March 17 2009
HCL Tech wins US$350mn Readers Digest deal (ET)
ONGC may suffer Rs30bn losses as the Government is yet to decide on raising the price of natural gas (BL)
Tata Power may divest parts of its stake in Mundra UMPP (BS)
RIL may re-open petrol pumps that were closed after the company made losses (BL)
ONGC may sell 19% stake in Dahej plant (BS)
Tata Sons pledges more stake in TCS (BS)
NTPC eyes generation assets abroad and retail distribution business (FE)
Hindalco going for financial restructuring to reduce the impact of acquisitions on operating results (FE)
SAIL yet to re-negotiate coking coal prices with suppliers (BS)
L&T in talks with PE players for joint Satyam bid (ET)
Essar Oil has deferred expansion plans at its Vadinar refinery for a year (ET)
Infosys sets sights on BPO, KPO acquisitions (ET)
Videocon puts mobile phone plans on hold (BS)
NMDC expects 5% decline in production and sales in the current fiscal (BL)
Telstra ends US$32mn contract with Satyam (BS)
Around 46 customers of Satyam have moved their outsourcing contracts to rivals (ET)
Tata Motors and Castrol are working on a specialized low-cost lubricant for Nano (ET)
JSW Steel expects to run its plants at maximum capacity till June 2009 to meet higher demand from the rural sector (BL)
Tata Communication expects to earn US$800mn from emerging markets (ET)
MTNL is examining plans to hive-off its real estate and mobile towers worth more than Rs60bn to fund its expansion (ET)
Pantaloon Retail may spin-off two of its biggest revenue grosser, Big Bazaar and Food Bazaar, to a new entity (ET)
Mercator Lines plans to invest US$110mn for purchase of two additional dredgers (ET)
LIC Housing cuts rates by 75 bps for existing customers (ET)
Bhushan Infra raises stake in Bhushan Steel to 3.3% (BS)
Mr.Pramod Khera steps down as Aptech MD & CEO (BL)
Allahabad Bank to complete capital raising by month-end (BL)
Cavin Care to set-up its own distribution arm with over 700 people on its rolls (BL)
Everonn Systems has received a letter of intent from a Bangalore-based college to set-up studio for process of e-learning (BL)
Banks have asked for relaxation of RBI norms for restructuring of loans (ET)
RBI extends deadline for FCCB buyback by nine months to December 2009 (ET)
PC sales decline by 19% in Q3 FY09 to 1.4mn units (BL)
FDI in January 2009 grows by 55% after declining yoy in the previous three months (BS)
India’s oil output may grow by 4.8% in FY10, as per CMIE (BS)
Drug companies gets nod to raise prices for insulin, multi-vitamin syrups (FE)
Investors get cynical!
A cynic is not merely one who reads bitter lessons from the past but is one who is prematurely disappointed in the future.
The bulls kept their momentum on Monday after flirting in negative zone briefly. But, after three successive days of gains we may see some softening in the main stock indices. The Sensex and the Nifty have rallied about 10% during this period. The bulls may run out of luck as US stocks snapped a four-day advance overnight, led by a sell-off in technology shares. However, stocks gained in Europe on some positive comments from UK bank Barclays. Asian indices, barring Singapore, are mostly in the green this morning. As a result, the market will open flat and may turn lackluster later in the day. The indices may resume its northward journey after a breather if global equities hold firm.
Much will depend on the newsflow and advanced tax number may be discussed extensively for lack of other news. Any fresh bad news may mar the tempo. Fed policymakers are holding a two-day meeting starting today. With interest rates already low, investors are expecting Fed officials to shed light on the potential for quantitative easing. The next big event will be the quarterly earnings. It will throw up both positive as well as negative surprises. Till then investors may remain cautious.
FIIs were net sellers in the cash segment on Monday at Rs1.02bn while the local institutions pumped in close to Rs2.53bn. In the F&O segment, the foreign funds were net buyers at Rs7.14bn. On Friday, FIIs were net buyers of Rs1.91bn. Mutual Funds were net buyers of Rs6.25bn on the same day.
US stocks closed lower on Monday after four straight days of gains as weakness in technology space countered continued strength in bank shares.
The Dow Jones Industrial Average lost 7 points, or 0.1%, to 7,216.97. The S&P 500 index slipped 2.7 points, or 0.4%, to 753.89. The Nasdaq Composite index tumbled 27 points, or 1.9%, to 1,404.02.
Stocks had gained through the early afternoon on a jump in bank shares and some upbeat comments from Federal Reserve chairman Ben Bernanke. But the advance lost steam late in the afternoon, with investors pulling back after four sessions of gains last week.
Stocks rallied last week, bouncing back after the Dow and S&P 500 hit 12-year lows. The week was Wall Street's best since last November, as the Dow gained 9%, the S&P 500 rose 10.7% and the Nasdaq added 10.6%.
British bank Barclays joined the chorus of top global lenders saying that it had a good start to the year. Citigroup, JPMorgan Chase, Bank of America and Deutsche Bank all said similar things last week. But after rallying through the early afternoon, bank stocks ended mixed.
Speaking on CBS's "60 Minutes" this weekend, Fed chief Bernanke said that the recession will probably end this year if the government is successful in stabilizing the flailing banking system.
The Fed is meeting Tuesday and Wednesday to discuss interest rates, with an announcement expected Wednesday afternoon. The central bank is expected to hold the fed funds rate, its key short-term interest rate, essentially at zero. However, the Fed could announce that it's going to start buying long-term US Treasurys after saying it was prepared to do so at its last few meetings.
President Obama said he will try to block millions in bonuses paid to AIG executives, which were given even as the company received $170 billion in federal bailout money. On Wednesday AIG CEO Edward Liddy will go before a House panel investigating the government's involvement in the troubled insurer.
The president, along with Treasury Secretary Timothy Geithner, also announced new efforts to increase loans for small businesses.
Finance ministers of the Group of 20 industrialized nations meeting over the weekend promised to do whatever is necessary to fix the global economy and repair the shaky banking system. The group also backed increased support for emerging markets.
But the group remained wary of a US proposal for a broader coordinated government spending plan to stimulate global economies. A summit of the group's national leaders is scheduled in London on April 2.
Industrial production continued to decline last month, as the recession wore on. The government said production fell by a seasonally adjusted 1.4% in February versus forecasts for a fall of 1.3%. Production fell 1.9% in the previous month.
Capacity utilization, a measure of factory output, fell to 70.9% from 71.9% in January. Economists thought it would fall to 71%.
The NY Empire State index, a key regional manufacturing report, fell to a record low of negative 38.2 in March from negative 34.7 in February.
Treasury prices inched lower, raising the yield on the benchmark 10-year note to 2.95% from 2.90% on Friday.
Lending rates were little changed. The 3-month Libor rate fell to 1.31% from 1.32% Friday, while the overnight Libor rate held at 0.33%. Libor is a bank-to-bank lending rate.
In currency trading, the dollar fell versus the euro and gained against the yen.
US light crude oil for April delivery rose $1.10 to settle at $47.35 a barrel on Monday.
COMEX gold for April delivery fell $8.10 to settle at $922 an ounce.
A rally in European stocks stretched into a second week, as Barclays and other banks paced a strong advance on Monday. After registering its strongest weekly performance since November, the pan-European Dow Jones Stoxx 600 rose a further 2.7% to 173.19.
On the London Stock Exchange, advancers led decliners by nearly a 2-to-1 margin. The French CAC 40 index climbed 3.2% to 2,791.66, while the UK's FTSE 100 index rose 2.9% to 3,863.99 and Germany's DAX 30 index gained 2.3% to 4,044.54.
Indian markets ended the week on a high as Friday the 13th turned out to be lucky for bulls. Both the key indices, the NSE Nifty and the BSE Sensex ended above the 2,700 and 8,700 mark respectively. Markets continued to catch up with the global indices in style. The US, Asian and European markets recorded smart gains and continued to extend gains.
The metals, banking and IT stocks were in demand also the mid-cap and the small-cap stocks attracted buying interest. The BSE Sensex surged 412 points to close at 8,756 and the NSE Nifty rose 101 at 2,719.
Among the 30-components of Sensex, 28 stocks ended in positive terrain and only 2 stocks ended in the red. Reliance Industries, Infosys, ICICI Bank, HDFC and L&T were among the major gainers. NTPC and Sun Pharma were among the major losers.
Shares of Dr. Reddy’s Labs advanced by 3.3% to Rs412 after the company won a U.S. court ruling that bolsters its bid to sell a copy of AstraZeneca Plc’s Prilosec heartburn drug without a prescription. The scrip touched an intra-day high of Rs425 and a low of Rs406 and recorded volumes of over 62,000 shares on BSE.
Shares of Strides Arcolab rallied by over 7% to Rs70 after the company announced that it terminated 'License and Supply Agreement' with KV Pharmaceutical Company, USA, due to the recent developments at KV Pharm which included recall of their products, regulatory actions, filing of a series of class actions by shareholders etc. The scrip touched an intra-day high of Rs76 and a low of Rs66 and recorded volumes of over 0.2mn shares on BSE.
Shares of Tata Steel gained by 7% to Rs166. According to reports, the company has held informal talks with bankers on restructuring debt at the Corus Group Ltd.
The parent company may ask its U.K. business, which owns Corus, to amend covenants on about 3bn pounds in loans for the acquisition added reports. The scrip touched an intra-day high of Rs167 and a low of Rs157 and recorded volumes of over 3.2mn shares on BSE.
Shares of Reliance Industries further gained by 6% to Rs1232 as the company is reportedly said to start producing gas from its field off India’s east coast by mid-April.
Reliance will start gas output from eight wells in the field, which may produce 5mn cubic meters a day, output may rise to 40mn cubic meters a day by August and peak at 120mn cubic meters a day,
The scrip touched an intra-day high of Rs1294 and a low of Rs1212 and recorded volumes of over 1.4mn shares on BSE.
Shares of SRF gained by 0.6% to Rs71 after the company announced that it restarted its polymerization, spinning lines at Tamil Nadu plant. The scrip touched an intra-day high of Rs72.9 and a low of Rs70 and recorded volumes of over 0.1mn shares on BSE.
Shares of SBI surged by over 4% to Rs953 after LIC raised its stake in the bank by 2.12% to 9.16% through open market.
LIC acquired 13.46mn shares between November and March. The scrip touched an intra-day high of Rs955 and a low of Rs922 and recorded volumes of over 0.9mn shares on BSE.
The headwinds remain in place and it won’t take long for the mood to change from good to bad and then from bad to worse. How we wish we are wrong! Hate to sound so pessimistic at the end of a short and sweet happy week. But then we need to remind you, short spurts coinciding with some positive news keeps happening in a bear market.
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