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Thursday, September 10, 2009
Sensex ends up 33.31 pts
The Sensex after a good start ended on a flat note led by metal and banking stocks, while realty and consumer durables were reeling under pressure. It opened firm with a gain of 112.37 points, at 16,295.92 on Thursday on strong global cues. It continued to trade in the positive terrain on sustained buying interest seen in frontliners and later witnessed profit booking in select stocks by shedding some of its gains. Further the benchmark regained its strength touching a high of 16,434.77. During fag end of the day, half an hour before the close, the index lost steam and slipped into the negative territory only to bounce back into the green at close.
BSE Midcap and Smallcap index dipped 0.17% and 0.77% respectively.
On sectoral front, BSE Metal and Bankex rose over 1% each, Realty dropped 2.26%, Consumer durables dipped 1.58%.
European stocks climbed after Texas Instruments raised its forecasts and China Yurun Food Group reported higher earnings. UK`s benchmark index FTSE 100 declined 29.44 points, or 0.60%, to trade at 4,974.25. French benchmark index CAC 40 dipped 17.51 points, or 0.47%, to trade at 3,690.88. Germany`s benchmark index DAX down by 5.93 points, or 0.10%, to trade at 5,568.15. (4.20 pm)
The Sensex ended the day with a gain of 33.31 points, or 0.21% at 16,216.86 after touching a high of 16,434.77 and a low of 16,166.42. The broad-based NSE Nifty gained 5.15 points, or 0.11% at 4,819.40 after hitting a high of 4,889.05 and a low of 4,807.90.
Major gainers in the 30-share index were ICICI Bank (3.12%), Sterlite Industries (India) (2.51%), Tata Steel (2.27%), Infosys Technologies (1.92%), Bharti Airtel (1.81%), and Tata Motors (1.21%).
On the other hand, DLF (2.77%), Hero Honda Motors (2.45%), Jaiprakash Associates (2.25%), Hindalco Industries (2.05%), Mahindra & Mahindra (1.77%), and Maruti Suzuki India (1.44%) were the major losers in the Sensex.
Overall market breadth was negative. Out of the total 2,880 stocks traded at BSE, 1,093 advanced, 1,710 declined while 77 remained unchanged.
Oil India Final Subscription Figures
Qualified Institutional Buyers (QIBs) - 53.8324 times
Non Institutional Investors - 10.4770 times
Retail Individual Investors (RIIs) - 1.7642 times
Employees - 0.2670 times
Retail applying for 90 shares would get around 52 shares
Turnover gallops
Nifty September 2009 futures at discount
Nifty September 2009 futures were at 4804.30 at a discount of 15.10 points as compared to the spot closing of 4819.40. Turnover in NSE's futures & options (F&O) segment spurted to Rs 75,583.39 crore from Rs 53,935.19 crore on Wednesday, 9 September 2009.
Reliance Industries September 2009 futures were at a marginal discount at 2146.10 compared to the spot closing of 2147.45.
ICICI Bank September 2009 futures were at discount at 814.25 compared to the spot closing of 816.60.
Reliance Natural Resources September 2009 futures were near spot price at 90.50 compared to the spot closing of 90.20.
In the cash market, the S&P CNX Nifty rose 5.15 points or 0.11% at 4819.40.
Asian markets accelerates further
Sensex, Sydney, Seoul lead the regional rally while Shanghai bucks the trend
Stock market in Asian region accelerated on Thursday, 10 September 2009, as hopes for global economic recovery prompted investors to shift into riskier assets, while oil found support above $US71 a barrel following OPEC's decision to keep output steady. The investor shift kept the US dollar on the defensive. It hit its weakest value in almost a year on Wednesday and was holding just above that level on Thursday.
As South Korea and New Zealand kept interest rates at record lows, Asian share markets were underpinned by a 0.5 per cent gain in the Dow Jones Industrial Average and the Federal Reserve's Beige Book survey, which showed the US economy was stabilising although many key sectors remained weak.
On Wall Street, the markets were upbeat yesterday, after Steve Jobs took the stage at Apple's media event and the Federal Reserve said economic conditions are stabilizing. The Dow Jones Industrial Average added 49.88 points, or 0.5%, to 9547.22, while the S&P 500 edged up 7.98 points, or 0.8%, to 1033.37. The Nasdaq Composite advanced 22.62 points, or 1.1%, to 2060.39.
On the economic report, the Federal Reserve said reports from its 12 districts showed economic activity continued to stabilize in July and August. Consumer spending remained soft, and residential real estate markets remained weak, although there were signs of improvement, according to the beige book. Most districts reported that loan demand and labor markets were also weak, although they also reported modest improvements in the manufacturing sector, an uptake in temporary hiring and a decline in the pace of layoffs.
Among the day's economic data, the Mortgage Bankers Association said early Wednesday that its seasonally adjusted index of mortgage applications, including both purchase and refinance loans, increased 17% to 648.3 for the week ended 4 September 2009. That's its highest level since May.
In the commodity market, crude oil rose for a fourth day in New York as the falling dollar spurred investors to buy commodities and the International Energy Agency raised its global oil demand forecast for next year for a second month.
Crude oil for October delivery rose as much as $1.13, or 1.6%, to $72.44 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It traded at $72.18 a barrel at 9:21 a.m. in London.
Brent crude oil for October settlement rose as much as 87 cents, or 1.3%, to $70.70 a barrel on the London-based ICE Futures Europe exchange.
Gold gained as the dollar traded near the lowest level since December against the euro, boosting demand for the precious metal as a store of value. Gold for immediate delivery climbed 0.4% to $996.24 an ounce at 2:47 p.m. in Singapore. Bullion climbed to an 18-month high of $1,007.70 an ounce Sept. 8. The December- delivery contract on the Comex division of the New York Mercantile Exchange was little changed at $997.70 an ounce.
In the currency market, central bank meetings dominate the forex markets today. Kiwi was a touch softer after RBNZ left rates unchanged at 2.50% and maintained a dovish tone in its statement. Aussie is also pressured by mixed employment report released overnight, which prompted economists to rethink the rate path of RBA.
The Japanese yen strengthened against major currencies. The Japanese yen was quoted at 92.15 against the US dollar and 132.98 against euro.
The Hong Kong dollar was trading at HK$ 7.7504 against the dollar. Actually The Hong Kong dollar is pegged at HK$ 7.8 to the U.S. dollar but can trade between HK$ 7.75 and HK$7.85 to the U.S. dollar.
In Sydney trade, the Australian dollar slipped on Thursday, retreating from one-year highs, after a surprisingly big fall in employment in August undermined market expectations for an interest-rate hike as early as next month. The dollar, which hit a one-year peak of $US0.8669 offshore on Wednesday, fell to a low $US0.8579 after data showed 27,100 jobs were lost last month, more than double the number expected. It closed locally at $US0.8596, with losses capped by a weaker US dollar and buoyant Asian stocks.
In Wellington trade, the New Zealand dollar hit a one-year high against a generally weakening greenback, remaining firmly above US69c. Around 5pm yesterday the NZ dollar had slipped back to the US69.10c area, but within the next few hours it strengthened quickly, peaking early today at US69.83c. By 8am the kiwi was buying US69.60c amid a growing appetite for risk and renewed concerns about the status of the US dollar as the world's reserve currency.
The South Korea won closed at 1,224.5 won to the U.S. dollar, up 2.5 won from Wednesday's close, as global stock rallies stoked investors appetite for risky assets.
Coming back in equities, Asian markets ended mostly higher, with Japan's benchmark index gaining as bargain hunters snapped up banks and technology stocks after recent declines.
In Japan, shares market jumped on the back of a positive lead from Wall Street and on continued hopes of a rebound in the global economic activity prompted investors to shift into riskier assets. The market witnessed broad based buying across the sectors, as market participant were confidence in a recovery in corporate earnings and the economy. But gains were capped as the yen's strengthened against the dollar. The Nikkei 225 Stock Average index spurted 201.53 points, or 1.95%, to 10,513.67, meanwhile the broader Topix was up 18.65 points, or 1.98%, to 958.49.
On the economic front, the Cabinet Office said that Japanese core machinery orders fell a seasonally adjusted 9.3% on the month to 664.7 billion yen in July. The Bank of Japan revealed that producer prices slid 8.5% in August from a year earlier.
In Mainland China, share market dropped first time in eight days, with materials and securities firms leading the decline due to profit taking amid concerns that recent gains in the market were overcooked. Investors sold shares as sentiment turned cautious ahead of the August key economic data due to release Friday. At the closing bell, the Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, stumbled 21.38 points, or 0.73% to 2,924.88, while the CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, declined 1%, to 3,162.91.
On the economic front, China's National Bureau of Statistics said house prices in 70 major cities rose 2% in August from the previous year, following July's 1% increase.
In Hong Kong, stock market surged with benchmark Hang Seng index touched a year high, as hopes of an economic recovery lifted sentiment. Financials and properties leading the rally amid confidence the global economy is recovering and as the National Bureau of Statistics said house prices in 70 Chinese cities rose 2% in August. Materials, energy, and retailers stocks gained on speculation earnings growth will recover. The Hang Seng Index climbed up 218.52 points, or 1.05%, to 21,069.56, while the Hang Seng China Enterprise put on 111.28 points, or 0.92%, to 12,216.82.
In Australia, the shares market touched fresh eleven month high with broad based gains across the sector, boosted by positive close of Wall Street overnight and strong movement across the Asian region. But gains were trimmed as employment data showed more job losses than expected. At closing bell, the benchmark S&P/ASX200 index added 48.6 points, or 1.07%, to 4,570.80, meanwhile the broader All Ordinaries gained 46.4 points, or 1.02%, to 4,573.50.
In the economic front, the Australian Bureau of Statistics reported that the seasonally adjusted unemployment was 5.8% in August, in line with the July reading. Despite the overall unemployment rate remaining steady, full-time jobs slipped by 30,800 while part-time jobs increased by 3,800.
In New Zealand, the share market lifted after Reserve Bank Governor Alan Bollard left the official cash rate unchanged at a record low 2.5%. In his announcement today, Dr Bollard also repeated his message that the Reserve Bank continued to expect the OCR to remain at or below current levels until the latter part of 2010. He focused on risks to the present "patchy" recovery posed by the rise of the New Zealand dollar and the possibility a recovery in house prices could undermine improvements in household savings. The NZX50 edged up 0.33% or 10.27 points to 3126.68. The NZX 15 increased 0.42% or 23.98 points to close at 5735.24.
In South Korea, shares closed higher on reinvigorated foreign buying and steep gains in shipbuilding, shipping and brokerage issues. The benchmark Korea Composite Stock Price Index (KOSPI) jumped 36.91 points to 1,644.68, the highest closing since 1 July 2008.
On the economic front, the Bank of Korea (BOK) announced that it would keep the key rate steady at a record low of 2 percent for another month as widely expected. The BOK head gave an upbeat appraisal of the country's economy in the second half by saying it would outperform the bank's estimate, easing concerns about the sustainability of the Kospi's recent steep gains.
In Singapore, stock market surged emulating overnight gains on Wall Street, where confidence in a recovery in corporate earnings and the economy drove buying. Banks and major blue chip added the most on the Strait index following signs of an economic recovery in the US overnight. The blue chip Straits Times Index spurted 31.54 points or 1.19%, to 2,682.02.
In Taiwan, stock market come back to gains, after the reports showing the memorandum of understanding for cross-Taiwan Strait cooperation in financial supervision is ready for signing, as both sides have ironed out their differences over the document almost entirely.
According to the reports published by the Chinese-language Economic Daily News (EDN), sister publication of Taiwan Economic News (EDN), the MOU will lay the groundwork for both sides to open up their financial markets mutually, allowing, among other things, seven Taiwanese banks to upgrade their existing representative's offices in China to branches and China's qualified domestic institutional investors (QDII) to invest in Taiwan's stock market instantly. It will also allow domestic securities firms to set up operations in China.
The benchmark Taiex share index flip losses with gains as its finished the session higher by 81.36 points or 1.12% in a day, closing the day at 7332.08, the closing not seen from 24 July 2008 when market closed at 7368.08.
On the economic front, Taiwan's consumer price index (CPI) shot up by 1.8% from a monthly earlier to 106.17 in August, yet dropped by 0.81% from that last year.
According to the Cabinet-level Directorate General of Budget, Accounting and Statistics (DGBAS), in the same month the wholesale price index (WPI) posted a sharp monthly rise of 2% to 104.43; while import price index jumped by 2.09% and export price index by 1.36%.
Wu Chao-ming, a section chief at DGBAS, indicated that Taiwan is currently free from the pressure of deflation since the monthly rise of commodity prices in August already exceeded that of the full-year expectation and the price index is very likely to keep rising.
Impacted by Typhoon Morakot, Taiwan saw an average monthly rise of 6.66% in food prices in August, during which vegetable and fruit prices rose 54.46% and 19.42%, respectively. During the month the WPI went up by 2% and among the commodities basic metals, raw chemical materials, crude oil, and natural gas all rose in price.
In the first eight months of the year the average CPI dipped by 0.72% from that recorded in the same period of last year and in August alone the core CPI, excluding prices of fresh vegetables, fruits and fish as well as energy, recorded an annual drop of 0.78%, the largest fall of its kind since August 2003.
In Philippines, the equities managed to end on a mildly positive note, reversing the dull sentiments in the intraday moves as an upbeat tone in the Asian equities supported the index. Risk appetite pushed up the Philippines equities in intraday moves even as the merchandise exports from the country took a further beating in July. At the final bell, the benchmark index PSEi mounted 0.22% or 6.50 points to 2,835.91, while the All Shares index increased 0.20% or 3.77 points to 1,807.21.
In India, the key benchmark indices closed with small gains after giving up strong intraday gains as European markets dropped. Both the key benchmark indices - the Sensex and the S&P CNX Nifty, 10 September 2009, hit their highest level in more than 15 months in intraday trade. Banking and metal stocks gained. Realty and auto stocks declined.
The BSE 30-share Sensex was up 33.31 points or 0.21% to 16,216.86. The Sensex rose 251.22 points the day's high of 16,434.77 in morning trade, its highest since 2 June 2008. The barometer index fell 17.13 points at the day's low of 16,166.42 in late trade.
The S&P CNX Nifty was up 5.15 points or 0.11% to 4819.20. It hit a high of 4889.05 earlier in the day, it's highest since 2 June 2008
Elsewhere, Malaysia's Kula Lumpur Composite index went up 0.40% or 4.82 points to 1201.28 while stock markets in Indonesia's Jakarta Composite index ended the day higher at 2411.86.
In other regional market, European shares turned lower, backing away from 2009 highs and losing ground for the first time in six sessions. U.K. FTSE 100 index lost 0.4% to 4,985.28, the French CAC-40 index slipped 0.4% to 3,693.50 while the German DAX index lost 0.1% to 5,571.61.
Pipavav Shipyard fixes IPO price band of Rs 55-60
For its proposed public offer to fund expansion
Private shipbuilder Pipavav Shipyard today, 10 September 2009 said it has fixed a price band of Rs 55-60 per share for its proposed initial public offer (IPO). The issue opens on 16 September 2009 and closes on 18 September 2009.
The company will issue 12.8% of its equity or 8.55 crore shares of Rs 10 each to part finance construction of facilities for shipbuilding and ship repair.
The proceeds would also allow the company to enter into the offshore business used in the exploration and construction of oil & gas companies.
Pipavav Shipyard, a shipbuilding and repair facility, is co-owned by SKIL Infrastructure and Punj Lloyd and also counts Singapore's Sembcorp Marine among its stakeholders.
Post Session Commentary - Sep 10 2009
Markets closed on flat note after showing a strong rally at the initial stage, on the back of far end profit booking across the selective indices. Instability was led by bouts buying and selling that was witnessed in key stocks. Market pared most of its gains during last hours and stocks touched the red zone during final trading on some profit booking led by recent rally in stocks. However, stocks were trading with good gain till before afternoon trade tracking upbeat sentiment from global markets. Meanwhile, inflation for the week ended 29th Aug 2009, came in at -0.12% as compared to -0.21% in the previous week. The BSE Sensex ended above 16,150 level and NSE Nifty closed above 4,800 mark.
Market opened with strong gains backed by favourable cues from the global markets. Gains in Asian stocks instigate the domestic bourses and on Wednesday, the US stock markets closed higher for fourth straight day with the S&P 500 touching an 11-month high. The market was lifted through most of the day by strength in commodities, industrials and technology. Further, Indian benchmark indices were constantly hovering in positive terrain on buying momentum. Firm opening of European stocks also contributed to the positive sentiments. However, market was unable to continue the same momentum and pared early gains. Knock of selling pressure in key stocks forced market to conclude its journey on flat note. On the sectoral front, Metal, Bank, Pharma, IT and Teck stocks were able to gain favour from the market. However, Realty, consumer Durable, Auto and Oil & Gas stocks witnessed most of the selling from these baskets. BSE Midcap and Smallcap stocks also followed the same trend.
Among the Sensex pack 16 stocks ended in red territory and 14 in green territory. The market breadth indicating the overall health of the market remained negative as 1710 stocks closed in red while 1093 stocks closed in green and 77 stocks remained unchanged in BSE.
The BSE Sensex closed marginally higher by 133.31 points at 16,216.86 and NSE Nifty ended slightly up by 5.15 points at 4,819.40. BSE Mid Caps and Small Caps closed with losses of 10.31 and 55.19 points at 5,929.50 and 7,128.19 respectively. The BSE Sensex touched intraday high of 16,434.77 and intraday low of 16,166.42.
Gainers from the BSE Sensex pack are ICICI Bank (3.12%), Sterlite Industries (2.51%), Tata Steel (2.27%), Infosys Tech (1.92%), Bharti Airtel (1.81%), Tata Motors (1.21%), BHEL (1.20%), RCom (1.19%), ITC Ltd (0.95%) and HDFC Bank (0.60%).
Losers from the BSE Sensex pack are DLF Ltd (2.77%), Heohonda Motors (2.45%), JP Associates (2.25%), Hindalco (2.05%), M&M Ltd (1.77%), Maruti Suzuki (1.44%), Reliance Infra (1.35%), Grasim Industries (1.35%), HDFC (1.32%) and HUL (1.28%).
Inflation for the week ended Aug 29 came in at -0.12% as compared to -0.21% in the previous week. WPI stood at 241.1 down 0.1%. Inflation remained in negative territory for 13th week. Inflation for the same week last year was up 12.3%. Rise in inflation is mainly driven by higher prices of essential food items like milk, cereals, pulses, fruit and vegetables.
On the global markets front, the Asian markets that opened before the Indian market, ended higher. Hang Seng, Nikkei 225, Singapore''s Straits Times Index and Seoul Composite closed up by 218.52, 201.53, 31.54 and 36.91 points at 21,069.56, 10,513.67, 2,682.02 and 1,644.68 respectively. However, Shanghai Composite lost 21.38 points at 2,924.88.
European markets, which opened after the Indian market, are now trading in red after showing positive trading during initial session. In Paris the CAC 40 is lower by 15.32 points at 2,692.37, in Frankfurt DAX index is trading down by 7.34 points at 2,566.92 and in London FTSE 100 is trading lower 21.99 points at 54,982.31.
The BSE Metal index closed up by (1.23%) or 163.82 points at 13,510.61, as Jindal Saw (7.05%), Sesa Goa Ltd (6.25%), Gujarat NRE C (5.74%), Hindustan Zinc (3.09%) and Sterlite Industries (2.51%) ended in positive terrain.
The BSE Bank index went up by (1.01%) or 87.84 points at 8,782.64. Gainers are ICICI Bank (3.12%), Union Bank (2.22%), Canara Bank (2.10%), Indiabn Overseas Bank (1.29%) and Yes Bank (1.12%).
The BSE Pharma index gained (0.82%) or 31.99 points 3,942.69 as Apollo Hos E (6.48%), Dr Reddy’s Lab (3.65%), Piramal Health (2.81%), Dishman Pharma (2.41%) and Lupin Ltd (1.87%) ended in green.
The BSE IT index ended higher by (0.82%) or 34.97 points 4,320.69. Gainers are Infosys Tech (1.92%), Wipro Ltd (0.35%) and HCL Tech (0.16%). Besides scrips that lost are Tech Mahindra (3.95%), Financ Tech (3.44%), Patni Computer (3.11%) and Mphasis Ltd (3.07%).
The BSE Realty index closed lower by (2.26%) or 99.92 points at 4,317.14. As Housing Dev (3.85%), Ansal Infra (2.98%), DLF Ltd (2.77%), Penland Ltd (2.62%) and Anant Raj (2.58%) closed in negative terrain.
The BSE Consumer Durables index dropped (1.58%) or 53.37 points at 3,314.83. Losers are Titan Ind (3.53%), Gitnajali GE (2.44%), Videocon Ind (1.71%) and Rajesh Export (0.25%).
Excel Infoways Ltd advanced by 0.20%. The company has entered into a business alliance with Business Processes Redefined. LLC (BPR), a US based receivables management firm to provide call centre and debt collection services.
L&T Ltd closed higher by 0.02%. The company has won a repeat order for design, manufacture and supply of four steam generators for 700 MWe Pressurized Heavy Water Reactors (PHWR) for Rajasthan Atomic Power Plant (RAPP) -7&8 from the Nuclear Power Corporation of India Limited (NPCIL).
UTV Ltd lost 0.69%. Bloomberg and the promoters (founders) of UTV announced that they will collaborate on a television channel to deliver unsurpassed real-time business, economic and political news to households across India.
EdServ Softsystems Ltd. dropped by 4.99%. The company, which has so far been providing academic and placement support services to the higher education segment, has announced that it is foraying into the primary and secondary education space.
IVRCL Infrastructures & Projects Limited decreased by 0.04%. The company has bagged orders from Government of Maharashrtra, NSG Kolkatta and others. The orders of Rs.557 Crores include orders in Water, Power, Buildings Divisions and a Road BOT.
Adlabs Films Limited ended down by 0.57%. The company and a member of the Reliance ADA group announced the reorganization of BIG Cinemas operations into two business strategic units based on geographical division.
Tata Communications lost 1.11 %. The company announced that it has extended its Ethernet service portfolio into China, with immediate availability.
BSE Bulk Deals to Watch - Sep 10 2009
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
10/9/2009 523694 APCOTEX IND TRIVIKRAM INVASTMENTS & TRADING CO.LTD B 35244 65.00
10/9/2009 523694 APCOTEX IND GUJARAT ORGANICS LTD S 39285 65.01
10/9/2009 532413 CEREBRA INT VALUE SOURCE IT PRIVATE LIMITED S 200000 7.75
10/9/2009 511672 CLARUS ABHINANDAN JAIN B 56561 8.03
10/9/2009 532363 COMP-U-LEARN MANJULA VANIN B 71107 14.27
10/9/2009 522163 DIAMON CABLE CLEARWATER CAPITAL PARTNERS CYPRUS LIMITED S 113606 244.05
10/9/2009 517973 DMC INTER J A FINANCIAL AND MANAGEMENT CONSULTANTS PVT LTD B 26002 13.00
10/9/2009 517973 DMC INTER CENTENARY SOFTWARE PVT LTD B 24000 13.03
10/9/2009 517973 DMC INTER SPG FINVEST PVT LTD B 39000 13.00
10/9/2009 517973 DMC INTER CHIMANLAL MANEKLAL SECURITIES PVT.LTD B 20534 13.03
10/9/2009 517973 DMC INTER CENTENARY SOFTWARE PVT LTD S 43900 13.03
10/9/2009 517973 DMC INTER PARESH DHIRAJLAL SHAH S 20005 12.89
10/9/2009 517973 DMC INTER SHIVCHARAN DASS MITTAL S 20000 13.03
10/9/2009 517973 DMC INTER CHIMANLAL MANEKLAL SECURITIES PVT.LTD S 29410 12.94
10/9/2009 522261 DOLPHIN OFF DOLPHIN OFFSHORE PROJECTS LIMITED B 96000 259.00
10/9/2009 522261 DOLPHIN OFF SUNITA SINGH MACLAREN S 96000 259.00
10/9/2009 502223 EXCEL GLASSE SHAIL INVESTMENTS PVT.LTD. B 134060 3.81
10/9/2009 500469 FEDERAL BANK SBI LIFE INSURANCE COMPANY LTD B 860000 229.00
10/9/2009 500469 FEDERAL BANK MORGAN STANLEY MAURITIUS COMPANY LIMITED S 1346520 229.03
10/9/2009 500151 GOLDEN TOB BP FINTRADE PRIVATE LIMITED B 96367 101.21
10/9/2009 500151 GOLDEN TOB HITESH SHASHIKANT JHAVERI B 146185 101.29
10/9/2009 500151 GOLDEN TOB JMP SECURITIES PVT LTD B 117583 101.13
10/9/2009 500151 GOLDEN TOB HITESH SHASHIKANT JHAVERI S 137220 101.09
10/9/2009 500151 GOLDEN TOB JMP SECURITIES PVT LTD S 141183 101.15
10/9/2009 500151 GOLDEN TOB BP FINTRADE PRIVATE LIMITED S 94850 101.19
10/9/2009 531439 GOLDSTON TEC BHAVESH P PABARI S 139000 30.89
10/9/2009 509597 HARDCAS WAUD JAISHREE SINGHANIA B 5000 276.04
10/9/2009 509597 HARDCAS WAUD SUVA BOTHRA S 5011 276.12
10/9/2009 531387 HASTI FINANC WINWIN SECURITIES PVT LTD S 15100 21.17
10/9/2009 504336 INDTRADECO L JMP SECURITIES PVT LTD B 1500000 0.45
10/9/2009 504336 INDTRADECO L JIGNESH PRAFUL ROKADIA S 1933234 0.45
10/9/2009 504336 INDTRADECO L PLEASENT TEXTILES LIMITED S 4416766 0.45
10/9/2009 523467 JAI MATA GLA J V STOCK BROKING PRIVATE LIMITED B 25001 9.22
10/9/2009 523467 JAI MATA GLA POONAM BATRA B 25000 9.22
10/9/2009 523467 JAI MATA GLA MOTI LAL BHASIN S 67854 9.22
10/9/2009 531988 JANICE TEXTI CPR CAPITAL SERVICES LTD S 38400 5.95
10/9/2009 514448 JYOTI RES AD PURNO RABHA S 20000 3.44
10/9/2009 523810 KALE FILMS VASANTHI CHHEDA S 378000 1.65
10/9/2009 530255 KAY POW PAP BAMPSL SECURITIES LTD. B 59827 7.32
10/9/2009 530255 KAY POW PAP AMRISH BABULAL SANGHVI B 60000 7.13
10/9/2009 530255 KAY POW PAP BAMPSL SECURITIES LTD. S 56906 7.03
10/9/2009 530255 KAY POW PAP KAY CHANDRA IRON ENGINEERING WORKS PRIVATE LIMITED S 100000 7.04
10/9/2009 530255 KAY POW PAP B.S.KHANDELWAL S 150000 7.10
10/9/2009 590060 MK EXIM RAJIV KATARIA B 30000 25.60
10/9/2009 590060 MK EXIM PRABHAT YOGI S 58008 25.04
10/9/2009 590060 MK EXIM VIJAY KUMAR CHHABRA S 74210 25.60
10/9/2009 531083 NIHAR INFO SATYA NAGASURYANARAYANA BODA S 52600 3.73
10/9/2009 531092 OM MET INFRA JMP SECURITIES PVT LTD S 519636 34.40
10/9/2009 513121 ORICON ENT SUNIL BHAGWATLAL DALAL S 52000 138.56
10/9/2009 523483 PACIFIC INDU SUBASH CHAND AGARWAL B 8000 175.18
10/9/2009 523483 PACIFIC INDU YOGENDRA KUMAR BOHRA B 8000 180.18
10/9/2009 523483 PACIFIC INDU SUBASH CHAND AGARWAL S 8000 180.18
10/9/2009 523483 PACIFIC INDU YOGENDRA KUMAR BOHRA S 8000 175.18
10/9/2009 511702 PARSHART INV JAYESH KUMARCHIMANLAL SONI B 18000 15.85
10/9/2009 590077 RANKLIN SOLU SRIKANTH MIKKILINENI S 45000 40.50
10/9/2009 531952 RIBA TEXTILE J V STOCK BROKING PRIVATE LIMITED B 37290 26.53
10/9/2009 531952 RIBA TEXTILE JMP SECURITIES PVT LTD B 400616 26.58
10/9/2009 531952 RIBA TEXTILE MUKESH CHAMPAKLAL SHAH HUF B 50000 26.05
10/9/2009 531952 RIBA TEXTILE PRITESH PRAVIN CHANDRA VORA B 50000 26.05
10/9/2009 531952 RIBA TEXTILE BP FINTRADE PRIVATE LIMITED B 36007 26.06
10/9/2009 531952 RIBA TEXTILE HEMAL KETAN SHAH S 52750 26.05
10/9/2009 531952 RIBA TEXTILE UMESH SHYAMRAO KHESE S 80253 26.05
10/9/2009 531952 RIBA TEXTILE JMP SECURITIES PVT LTD S 322247 26.45
10/9/2009 531952 RIBA TEXTILE MUKESH CHAMPAKLAL SHAH HUF S 50000 27.45
10/9/2009 531952 RIBA TEXTILE PRAMUKH PRAHLADBHAI PATEL S 42831 26.05
10/9/2009 506172 SAMPADA CHEM PRATIMA DILIP PAREKH B 50000 29.95
10/9/2009 506172 SAMPADA CHEM THE PREMIER COMMERCIAL COPVT LTD S 129550 29.95
10/9/2009 531312 SANRAA DYNAMIC STOCK BROKING INDIA PVT LTD B 4327286 1.14
10/9/2009 531312 SANRAA DYNAMIC STOCK BROKING INDIA PVT LTD S 5205183 1.12
10/9/2009 523710 SAYAJ HOTELS ABDUL GANI SARFARAZ YUSUF DHANANI B 174956 52.14
10/9/2009 523710 SAYAJ HOTELS EXCELLENT ESTATEDEVELOPERS PVT LTD S 175549 52.15
10/9/2009 524540 SECUN HEALTH SAURABHKUMAR RASIKLAL GANDHI B 50000 27.24
10/9/2009 524540 SECUN HEALTH SAMEER N SHAH B 34023 26.98
10/9/2009 524540 SECUN HEALTH RAMAMOHAN JONNALAGADDA S 30897 27.00
10/9/2009 524540 SECUN HEALTH ANJU DHARMENDRA MADHANI S 50000 27.24
10/9/2009 524540 SECUN HEALTH SAMEER N SHAH S 35455 27.05
10/9/2009 512413 SPECTACLE KISHORE B CHAUHAN B 400630 54.03
10/9/2009 512413 SPECTACLE KISHORE B CHAUHAN S 293803 53.83
10/9/2009 519228 TEMPT.FOODS FAIRDEAL INFIN SERVICES PVT. LTD. S 128664 45.63
10/9/2009 530459 VALSON IND HITESH SHASHIKANT JHAVERI S 44874 54.31
10/9/2009 524310 VBC INDUSTRI RAHUL JAIN B 100000 32.84
10/9/2009 503657 VEER ENERGY AANGI SHARES & SERVICES PVT. LTD. B 757345 25.22
10/9/2009 503657 VEER ENERGY NIRMALA MOTILAL SHAH S 496460 25.03
10/9/2009 503657 VEER ENERGY AANGI SHARES & SERVICES PVT. LTD. S 757345 24.90
10/9/2009 503657 VEER ENERGY YOGESH JAISUKHLAL SANGHVI S 560000 25.01
10/9/2009 530477 VIKRAM THERM PANKAJ KUMAR GOYAL B 15000 19.16
10/9/2009 530477 VIKRAM THERM KAPILABEN B PATEL S 11000 19.02
10/9/2009 531266 VST TILLER T GOVIND LAL GILADA S 29463 379.31
10/9/2009 531249 WELL PACK PA PANDYA HARDIK M B 50958 229.78
10/9/2009 531249 WELL PACK PA SHOBHANA NARENDRAKUMAR SHAH B 28000 228.04
10/9/2009 531249 WELL PACK PA PANDYA HARDIK M S 50274 229.14
10/9/2009 531249 WELL PACK PA NARENDRAKUMAR SHAH S 27200 227.67
NSE Bulk Deals to Watch - Sep 10 2009
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
10-SEP-2009,CHI,CHI Investments Limited,AUM SECURITIES PRIVATE LTD.,BUY,67063,67.14,-
10-SEP-2009,CHI,CHI Investments Limited,BRUBECK RESOURCES PVT. LTD,BUY,100000,67.50,-
10-SEP-2009,DSKULKARNI,DS Kulkarni Dev. Ltd.,PRADEEP RAMANARASIMHASETTYKARE,BUY,152610,59.01,-
10-SEP-2009,GOLDENTOBC,Golden Tobacco Limited,SETU SECURITIES LTD,BUY,136160,101.94,-
10-SEP-2009,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,BUY,6329955,23.37,-
10-SEP-2009,JAYAGROGN,Jayant Agro Organics Ltd.,ARORA RAJIV,BUY,90156,82.65,-
10-SEP-2009,JAYSREETEA,Jayashree Tea Ltd.,NIKON FINLEASE PVT. LTD,BUY,87852,282.95,-
10-SEP-2009,JAYSREETEA,Jayashree Tea Ltd.,OM INVESTMENTS,BUY,62968,284.21,-
10-SEP-2009,JAYSREETEA,Jayashree Tea Ltd.,SANJAY BHANWARLAL JAIN,BUY,57852,285.66,-
10-SEP-2009,JINDALSAW,Jindal Saw Limited,C D INTEGRATED SERVICES LTD.,BUY,370210,678.87,-
10-SEP-2009,JINDALSAW,Jindal Saw Limited,PHILLIPS HAGER AND NORTH OVERSEAS EQUITY PENSION TRUST,BUY,600000,674.12,-
10-SEP-2009,RUCHINFRA,Ruchi Infrastructure Ltd.,RUCHI SOYA INDUSTRIES LTD.,BUY,2440000,39.99,-
10-SEP-2009,CHI,CHI Investments Limited,AUM SECURITIES PRIVATE LTD.,SELL,63,64.58,-
10-SEP-2009,CHI,CHI Investments Limited,TALMA CHEMICAL INDUSTRIES PRIVATE LIMITED,SELL,120000,67.50,-
10-SEP-2009,GOLDENTOBC,Golden Tobacco Limited,SETU SECURITIES LTD,SELL,126247,101.63,-
10-SEP-2009,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,6187046,23.42,-
10-SEP-2009,JAYAGROGN,Jayant Agro Organics Ltd.,ARORA RAJIV,SELL,90156,84.77,-
10-SEP-2009,JAYSREETEA,Jayashree Tea Ltd.,NIKON FINLEASE PVT. LTD,SELL,87852,282.97,-
10-SEP-2009,JAYSREETEA,Jayashree Tea Ltd.,OM INVESTMENTS,SELL,62968,284.49,-
10-SEP-2009,JAYSREETEA,Jayashree Tea Ltd.,SANJAY BHANWARLAL JAIN,SELL,57852,285.99,-
10-SEP-2009,JINDALSAW,Jindal Saw Limited,C D INTEGRATED SERVICES LTD.,SELL,370210,679.32,-
10-SEP-2009,OUDHSUG,The Oudh Sugar Mills Ltd,NEW INDIA RETAILING & INVESTMENT LIMITED,SELL,115000,75.96,-
10-SEP-2009,RAJTV,Raj Television Network Li,MELLON VIETNAM INDIA AND CHINA (VIC) FUND,SELL,81000,71.85,-
10-SEP-2009,RUCHINFRA,Ruchi Infrastructure Ltd.,ANKESH DINESH SHAHRA,SELL,2400000,40.00,-
Positive but down
The market appeared to be heading towards a negative close after a strong bout of profit taking towards the close shaved off nearly 250 points from the day’s high. After resuming 112 points up at 16296, till afternoon the Sensex witnessed strong optimism. While action in several counters held the market firm above 16300 levels in the first half, the index notched up further gains in afternoon to touch the day's high of 16435. However, the market slipped towards the close as weakness in select heavyweights, realty, consumer durables and auto stocks dragged the index to an intra-day low of 16166. The Sensex ended the session with marginal gains of 33 points at 16217, while Nifty added 5 point to its kitty to close at 4819.
Advance decline ratio tilted in favour of declining scrips. Of the 2,880 stocks on the BSE, 1,710 stocks declined, whereas 1,093 stocks advanced. Seventy-seven stocks did not see any change. Bar metal, banking, consumer durable and realty, other nine sectoral indices were mildly positive or negative. BSE Metal and BSE Bankex were 1.23% and 1.01% up respectively, while BSE CD and BSE Realty were 1.58% and 2.26% down respectively.
Of the 30 Sensex stocks, 14 were down whereas 16 were up for the day. The biggest private bank ICICI Bank topped the chart gaining 3.12% to quote at Rs815.55. The largest Indian copper maker Sterlite Industries advanced 2.51% to trade at Rs766.70. Steel maker Tata Steel jumped 2.27% to Rs470.35, IT major Infosys Technologies shot up by 1.92% to Rs2,235.10, Bharti Airtel added 1.81% to Rs417.25, while Tata Motors, Bharat Heavy Electricals, Reliance Communications, ITC and HDFC Bank closed with marginal gains. Among laggards, real estate company DLF tumbled 2.77% to Rs408.75, India’s largest two wheeler maker Hero Honda Motors shed 2.45% to Rs1,587.90, JP Associates declined 2.25% to Rs232.60 and Hindalco Industries lost 2.05% to trade at Rs117.15 whereas Mahindra & Mahindra, Maruti Suzuki India, Reliance Infrastructure, Grasim Industries, HDFC and Hindustan Unilever lost 1% each respectively.
Over 3.10 crore shares of Reliance Natural Resources changed hands on the BSE followed by Sanraa Media (2.21 crore shares), NHPC (1.74 crore shares), IFCI (1.38 crore shares) and Suzlon Energy (1.27 crore shares).
Oil India IPO subscribed 31 times
Gets bids for 81.16 crore shares as compared with 2.64 crore shares on offer
The initial public offer (IPO) of state-run Oil India was subscribed 30.69 times by 16:00 IST on day four, data on NSE website showed. The IPO received bids for 81.16 crore shares on Thursday, 10 September 2009, compared to the issue size of 2.64 crore shares. The IPO opened for bidding on Monday, 7 September 2009, and closes today, 10 September 2009.
The IPO has received strong response from institutional investors. The qualified institutional buyers (QIB) category was subscribed 7.18 times with foreign institutional investors putting in bids for 8.24 crore shares, as on 9 September 2009. The non institutional, retail and employee categories remained undersubscribed on day three.
At a price band of Rs 950-Rs 1050, the PE ratio works out to 10.2-11.3, based on earnings per share (EPS) of Rs 93 for the year ended March 2009 on post-issue equity of Rs 240.45 crore. The company is raising about Rs 2700 crore from the IPO.
Along with the IPO, the government is simultaneously selling a part of its stake in Oil India to the three state-run refiners - Indian Oil Corporation, HPCL and BPCL. Post-IPO and disinvestment, the government's stake in the company will decrease from 98.13% to 78.5%.
Oil India is India's second biggest oil and gas production firm in terms of revenue after ONGC. Oil India's net profit rose 25.1% to Rs 2230.85 crore on 17.6% growth in sales to Rs 7200.70 crore in the year ended March 2009 over the year ended March 2008.
Market retraces from 15-month high on profit taking; breadth weak
The key benchmark indices registered small gains in choppy trade, extending a rally for the fifth day. The market retraced after hitting a 15-month high as weak European markets and lower US index futures triggered profit taking. The BSE 30-share Sensex rose 33.31 points or 0.21% to 16,216.86, off close to 220 points from the day's high. Banking and metal stocks gained. Realty and auto stocks declined.
Index heavyweight Reliance Industries fell in volatile trade. The market breadth was weak in contrast to a strong breadth earlier in the day.
Intraday volatility was high. The market surged in early trade on higher Asian stocks. It surged to a fresh intraday high in morning trade before paring gains. A brief recovery from lower level was witnessed in early afternoon trade. After hitting an intraday low, the market regained strength later. However, the recovery proved short lived with the Sensex slipping into the red in late trade
India's exports declined the least in eight months in August 2009 as overseas sales of coal, rice and tobacco picked up, Commerce Secretary Rahul Khullar said. Merchandise shipments dropped 19.7% from a year earlier to $14.3 billion after sliding 28.4% in July 2009, Khullar said.
A recent spell of good rains will help the next season crop to be sown from October and harvested in March and April next year, Farm Minister Sharad Pawar said on Thursday.
India's monsoon rains reportedly were 21% above average in the past week till 9 September 2009. But total rainfall since 1 June 2009, the start of the season, was 20% below average because of exceptionally dry spells in the past. More than two-thirds of the people live in villages and 60% of the farm land depends on the annual rains.
The wholesale price index (WPI) fell 0.12% in the year through 29 August 2009, lower than an annual decline of 0.21% in the previous week, data released by the government at 12:10 IST today, showed. The food article index surged 14.8%.
Analysts are concerned that a sharp surge in food prices in the past few days due to scanty rains may stoke inflationary pressures in the economy. Interest rates could rise on higher inflation which in turn may impact a nascent economic recovery and corporate profits.
Comments from Finance Secretary Ashok Chawla, however, helped soothe those concerns to some extent on Wednesday when he said the main worry is lifting growth rather than inflation and said he saw no need for the central bank to change policy. He further said India's government will not borrow more from the market than its budget target for 2009/10 (April-March).The government plans to borrow Rs 4,51,000 crore ($93 billion) in the fiscal year to fund a fiscal deficit forecast at 6.8% of gross domestic product.
Meanwhile, liquidity continues to support share prices and oversubscription to the Oil India initial public offering is a testimony to that. The Oil India IPO which opened for bidding on 7 September 2009, was subscribed 30.77 times by 17:00 IST on the last day of the issue today, 10 September 2009. The government has fixed Rs 950-1,050 per share price band for the initial public offering of Oil India (OIL), the second state-run firm to hit the market this year after NHPC, and will raise up to Rs 2,777 crore.
The strong response to Oil India IPO was despite a muted debut of another state-run firm NHPC on the secondary markets early this month
European shares turned negative in morning trade on Thursday, as weakness in banks and retailers outweighed gains in technology and engineering firms. Key benchmark indices in France, and UK were down by between 0.36% to 0.6%. But, Germany's DAX was flat in volatile trade.
The Bank of England left interest rates at a record low of 0.5% for the sixth month running on Thursday and said it would keep its 175 billion pound asset buying programme in place
Asian stocks climbed today as a surge in earnings of China Yurun Food Group and a positive update on earnings from US chip maker Texas Instruments lifted confidence the global economy is recovering. Key benchmark indices in Hong Kong, South Korea, Singapore and Taiwan rose by between 1.05% to 2.3%. But, China's Shanghai Composite fell 0.73%.
Japan's Nikkei rose 1.95% even after a Cabinet Office report showed Japanese machinery orders dropped more than economists had estimated in July 2009. Orders are regarded as an indicator of capital spending in the next three to six months.
Trading in US index futures indicated Dow could shed 15 points at the opening bell today, 10 September 2009.
US stocks closed higher on Wednesday, 9 September 2009 with the S&P 500 touching an 11-month high after Goldman Sachs Group Inc. recommended industrial companies and investor Michael Price said he's finding value in American equities.
The Dow added 49.88 points, or 0.5%, to 9,547.22. The S&P 500 index rose 7.98 points, or 0.8%, to 1,033.37, and the Nasdaq Composite rose 22.62 points, or 1.1%, to 2,060.39.
The US Federal Reserve's Beige Book showed yesterday 11 of its 12 regional banks reported signs of a stable or improving economy in July and August.
The BSE 30-share Sensex rose 33.31 points or 0.21% to 16,216.86, its highest closing since 30 May 2008. The Sensex rose 251.22 points the day's high of 16,434.77 in morning trade. The barometer index fell 17.13 points at the day's low of 16,166.42 in late trade.
The S&P CNX Nifty rose 5.15 points or 0.11% to 4819.40 its highest closing since 30 May 2008. It hit a high of 4889.05 earlier in the day. Nifty September 2009 futures were at 4804.30 at a discount of 15.10 points as compared to the spot closing of 4819.40. Turnover in NSE's futures & options (F&O) segment spurted to Rs 75,583.39 crore from Rs 53,935.19 crore on Wednesday, 9 September 2009.
BSE clocked a turnover of Rs 6689 crore, lower than Rs 6249.54 crore on Wednesday, 9 September 2009.
The Sensex has jumped 818.53 points or 5.31% in five trading days to 16,216.86 on 10 September 2009 from a recent low of 15,398.33 on 3 September 2009 as a revival of monsoon rains, strong response to the initial public offer of Oil India and firm global stocks boosted sentiments.
Stocks have risen sharply this year on increased global risk appetite triggered by hopes of a recovery in the global economy after a setback from a financial sector crisis. The Sensex is up 6569.55 points or 68.09% in calendar year 2009 as on 10 September 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex is up 8056.46 points or 98.72% as on 10 September 2009. FII inflow in calendar year 2009 totaled Rs 41,795.70 crore (till 9 September 2009).
Coming back to today's trade, the market breadth indicating the overall health of the market, was negative. The breadth was strong in early trade. On BSE, 1086 shares rose as compared with 1709 that declined. A total of 77 shares remained unchanged.
Among the 30-member Sensex pack, 14 rose while the rest declined.
The BSE Mid-Cap index fell 0.17% and the BSE Small-Cap index fell 0.77%. Both the indices underperformed the Sensex.
The BSE Metal index (up 1.23%), the BSE Bankex (up 1.01%), the BSE Healthcare index (up 0.82%), the BSE IT index (up 0.82%), the BSE Teck index (up 0.8%), the BSE Power index (up 0.46%), outperformed the Sensex.
The BSE Realty index (down 2.26%), the BSE Consumer Durables index (down 1.58%), the BSE Auto index (down 0.76%), the BSE Oil & Gas index (down 0.58%), the BSE FMCG index (down 0.05%),the BSE PSU index (up 0.02%), the BSE Capital Goods index (up 0.03%), underperformed the Sensex.
India's largest private sector firm by market capitalisation and oil refiner Reliance Industries (RIL) fell 0.93% to Rs 2149.20. The stock hit a high of Rs 2205 and a low of Rs 2135. Anil Ambani group firm Reliance Natural Resources (RNRL) on Wednesday told the Supreme Court that the government has no role to play either in the utilisation or the fixation of gas price as per its contract with Mukesh-led RIL.
The two sides RIL and RNRL had approached Supreme Court challenging a decision by the Bombay High Court on 15 June 2009, which said RIL should provide 28 million cubic metres of gas per day to RNRL at $ 2.34 per mmBtu and both the parties should sign a necessary agreement for the same within a month. RIL, however, is pleading that it was only a contractor for the gas from the Krishna-Godavari basin's D6 block and did not have the power to fix the price, while the government has also moved a special leave petition in the case asserting its right on pricing and distribution of natural gas. The apex court has decided to commence hearing on this matter on 20 October.
A rally in crude oil failed to lift oil exploration counters. India's biggest state-run oil exploration firm by revenue Oil & Natural Gas Corporation (ONGC) was flat at Rs 1180.45. Cairn India fell 2.83%. Rise in crude oil prices would result in higher realizations from crude sales for oil exploration firms.
Crude oil rose as the falling dollar spurred investors to buy commodities as an inflation hedge and an industry report showed a decline in US inventories. The American Petroleum Institute reported US stockpiles declined 7.22 million barrels, the biggest drop since 5 September 2008. Light, sweet crude for October delivery settled 21 cents, or 0.3%, higher at $71.31 a barrel on the New York Mercantile Exchange on Wednesday.
Telecom stocks rose. India's largest mobile services provider by sales Bharti Airtel rose 1.81% after the company denied media reports it had reached an agreement with South Africa's MTN on their planned multi-billion dollar share and cash swap. But the stock came off the day's high of Rs 424.40. A reports had suggested the two companies had reached a $24 billion preliminary agreement. But Bharti said talks between the two -- which could later lead to a full merger -- were still going on.
Bharti and South African telecom operator MTN have been in negotiations since 25 May 2009 on a $23 billion cash and share-swap deal aimed at an eventual full merger. The deadline for the talks has been extended twice.
India's second largest listed mobile services provider by sales Reliance Communications rose 1.19%.
Metal stocks rose on strong domestic demand. India's largest private sector steel marker by sales Tata Steel gained 2.27% after Steel Minister Virbhadra Singh said domestic consumption of steel could rise 6% this quarter. Tata Steel on Monday, 7 September 2009 said steel sales at its Indian operations rose 25% to 492,000 tonnes in August 2009 over August 2008.
Domestic operations contribute about 25% of the group's total annual global capacity, including Europe's second-largest steelmaker Corus.
Jindal Steel, Sterlite Industries, National Aluminum Company, Jindal Saw, rose by between 0.45% to 7.05%.
Realty stocks fell on profit taking extending losses for third straight day. DLF, Unitech, Omaxe, Indiabulls Real Estate, Anant Raj Industries fell by between 1.96% to 2.77%.
But, Omaxe surged 2.81% after the company's unit Rivaj Infratech signed a pact with Bulandshahar Development Authority for the development of hi-tech township in Bulandshahar, Uttar Pradesh.
Realty stocks had surged in the past few weeks on reports prices of residential units in key regions like New Delhi-NCR (National Capital Region) and Mumbai have risen 10-15% on gradual return of residential property buyers.
The demand for residential projects in major cities is picking up on lower home loan rates, property price cuts by developers and a recovery in the job market. Realty market had slumped last year amid a global credit crunch and buyers fearing job losses.
The Union Cabinet has approved 1% in interest subsidy on home loans up to Rs 10 lakh, Information and Broadcasting Minister Ambika Soni said on Thursday.
Auto stocks fell on profit taking. India's top small car maker by sales Maruti Suzuki fell 1.44%. India's largest tractor maker by sales Mahindra & Mahindra declined 1.77%.
Two-wheeler makers fell. India's largest bike maker by sales Hero Honda Motors fell 2.45%. India's second largest bike maker by sales Bajaj Auto fell 0.21%.
India's largest truck maker by sales Tata Motors rose 1.21% to Rs 563.70. It hit a 52 week high of 577.70 in intraday trade.
Car sales rose 26% to 120,669 units in August 2009 over August 2008 boosted by new launches and availability of cheaper loans, data released by the industry body Society of Indian Automobile Manufacturers on 8 September 2009, showed. Sales of trucks and buses rose 18.5% to 40,624 units and motorcycle sales rose 26% to 611,173 units.
Tyre stocks rose on hopes that the forthcoming festive season will boost auto sales which in turn may lift tyre sales. MRF, CEAT, Apollo Tyres, rose by between 0.69% to 5.02%.
Banking shares rose on hopes a recovery in the economy will boost lending growth. India's largest private sector bank by net profit ICICI Bank rose 3.12% to Rs 815.55. It was the major gainer from Sensex pack. The bank's managing director Chanda Kochhar said on 8 September 2009 credit growth in India is likely to pick up in the second half of this year.
India's second largest private sector bank by net profit HDFC Bank gained 0.6% to Rs 1483.10. But the stock came off the day's high of Rs 1500.
But, India's largest bank by net profit and branch network State Bank of India fell 0.81% to Rs 1879.30. The stock came off the day's high of Rs 1924.95. Chairman O.P. Bhatt on 8 September 2009 said the bank's earnings are likely to grow 30-35% in the current quarter. SBI's retail loan growth is likely to be twice of what it was in the year-ago quarter, he said.
The cabinet has approved 2% interest subsidy on bank loans taken by farmers, Soni said on Thursday. The subsidy would cost the exchequer about Rs 4000 crore ($826 million) in the fiscal year 2009/10, she said.
India's largest power equipment maker by sales Bharat Heavy Electricals rose 1.2% after the company received a Rs 990 crore contract to manufacture electric locomotives for Indian Railways.
India's largest engineering and construction firm by sales Larsen & Toubro was flat at Rs 1601.45 after company said it got orders worth Rs 405 crore
Construction shares fell on profit taking. IVRCL Infrastructures & Projects, Jaiprakash Associates, Gayatri Projects and Hindustan Construction Company fell by between 0.04% to 4.66%.
Higher government spending on infrastructure sector in 2009-2010 to provide a stimulus to the economy, may result in increase order flow for construction firms
Some power stocks rose on bargain hunting. Power Grid Corporation of India, NTPC, Torrent Power, Reliance Power rose by between 0.17% to 9.54%.
Cement stocks fell on reports cement makers have cut prices by Rs 3 per 50 kilogram bag in Mumbai. ACC, Grasim Industries,Ultratech Cement, Jaiprakash Associates, Ambuja Cements fell by between 0.57% to 1.7%.
Some FMCG pivotals rose on revival in India's annual monsoon since the second half of August 2009. FMCG firms derive substantial revenue from the rural sector . Britannia Industries, Dabur India, ITC rose by between 0.75% to 0.95%.
IT stocks rose on gains in American depository receipts (ADR) on Wednesday. India's second largest software services exporter by sales Infosys rose 1.92% as its ADR rose 1.78% on Wednesday, 9 September 2009. India's third largest software services exporter by sales Wipro rose 0.35% on 1.79% rise in its ADR on 9 September 2009.
But, India's largest software services exporter by sales Tata Consultancy Services fell 0.75%. TCS's Chief Executive S. Ramadorai on 7 September 2009 said TCS is seeing stability on the ground and the company's demand pipeline is good.
Mid-cap IT stocks fell. Mphasis, Financial Technologies, Rolta India fell by between 2.31% to 3.44%.
Tea stocks gained on reports average tea prices rose to Rs 133.80 a kilogram (kg) in seven months till July 2009 from Rs 106.27 per kg the year before on the back of fall in production.
Warren Tea, McLeod Russel, Harrisons Malayalam, Assam Company rose by between 0.18% to 5.6%.
Tea production in India fell by 3% to 127 million kilogram (kg) in July 2009 over July 2008 on a decline in output mainly in West Bengal, though higher realisation pushed up exports marginally, according to the Tea Board.
Some sugar stocks fell on reports the Indian government has asked tax authorities to monitor the release of sugar stocks by mills to ensure steady prices and supplies in the festival season when demand peaks.
Balrampur Chini, Dhampur Sugars and Oudh Sugar fell by between 0.92% to 1.15%.
Reliance Natural Resources clocked highest volume of 3.1 crore shares on BSE. Sanraa Media (2.21 crore shares), NHPC (1.74 crore shares), IFCI (1.38 crore shares) and Suzlon Energy (1.27 crore shares) were the other volume toppers in that order.
Reliance Natural Resources clocked the highest turnover of Rs 279.86 crore on BSE. Reliance Industries (Rs 231.78 crore), DLF (Rs 228.20 crore), Housing Development & Infrastructure (Rs 221.83 crore) and Sesa Goa (Rs 202.18 crore) were the other turnover toppers in that order.
Oil India Grey Market Premium
| Company Name | Offer Price (Rs.) | Premium (Rs.) | Kostak (Rs. 1 Lac Application) |
| Jindal Cotex | 75 | 4 to 5 | -- |
| Globus Spirits Ltd. | 100 | 4 to 6 | -- |
| Oil | 950 to 1050 | 30 to 35 | 1800 to 2000 (+ 250 Form Commission) |
Pre Session Commentary - Sep 10 2009
Today domestic markets are likely to open positive as majority of Asian markets have opened in green. Yesterday’s positive movement in US markets has exuded strength and firmness across broader level. The concurrent positive movement in Asian markets will definitely inspire the domestic sentiments as well. However as the markets are already at peak level a narrow-range trading in indispensable. During the day trading is likely to be range bound.
On Wednesday, domestic markets managed to conclude today’s session on a positive terrain after remaining range bound for most of the session. The market staged a smart pull back from the day’s low in the final hours lead by decent gains from the oil and gas stocks. However, cues from the Asian markets not in favor as major Asian exchanges closed in red. After a dismal opening, the market recovered from the fall on selective buying across the indices due to the revival in monsoon and a recent survey showed an improvement in business confidence of India Inc. The BSE Sensex ended above 16,150 level and NSE Nifty closed above 4,810 mark.
The BSE Sensex closed higher by 59.88 points (0.37%) at 16,183.55 and NSE Nifty ended up by 9 points or (0.19%) at 4,814.25. BSE Mid Caps and Small Caps closed flat at 5,939.81 and 7,183.38 respectively. The BSE Sensex touched intraday high of 16,215.74 and intraday low of 16,044.77.
On Wednesday, US markets closed positive. The major indices started the session with modest losses, but that was met by buyers looking to extend the stock market''s recent gains. Stocks did hand back a chunk of their gains following a disappointing Fed Beige Book, but participants shrugged off the commentary and pushed stocks broadly higher into the close. Thanks to a late rebound by the broader market, energy and materials stocks were able to close with strength. They had faltered after energy prices and precious metals prices finished in weak fashion. The only positive news from the Beige Book came from the manufacturing sector, which has seen an increase in orders. Crude oil futures for the month of October delivery gained by 0.5% at $71.49 a barrel on New York Mercantile Exchange.
The Dow Jones Industrial Average (DJIA) closed higher by 48.88 points at 9,547.22. NASDAQ index gained 22.62 points at 2,060.39 and the S&P 500 (SPX) also inclined by 7.98 points to close at 1,033.37 points.
Indian ADRs ended in green on Wednesday. In the IT space, Satyam Computers was up 4.15%, Infosys was up 1.78%, Wipro was up 1.79% while Patni Computers was down 0.45%. In the banking space, ICICI Bank was up 3.57% and HDFC Bank was up 1.37%. In the telecom space, Tata Communication was up 1.19% and MTNL was up 0.26%. In other sectors, Sterlite Industries was up 1.05%, Tata Motors was up 0.08% while Dr Reddy''s Labs was flat.
The FIIs on Wednesday stood as net buyers in equity and debt. Gross equity purchased stood at Rs 3,929.30 Crore and gross debt purchased stood at Rs 457.30 Crore, while the gross equity sold stood at Rs 2,754.80 Crore and gross debt sold stood at Rs 347.10 Crore. Therefore, the net investment of equity and debt reported were Rs 1,174.60 Crore and Rs 110.20 Crore respectively.
On Wednesday, Indian Rupee closed at 48.50/51 per dollar, 0.06% weaker than its previous close at 48.47/48. The local currency ended low due to firmness in domestic stock markets.
On BSE, total number of shares traded were 49.91 Crore and total turnover stood at Rs 6,249.54 Crore. On NSE, total number of shares traded were 96.73 Crore and total turnover was Rs 18,384.25 Crore.
Top traded volumes on NSE Nifty – Unitech with total volume traded 50868494 shares, followed by Suzlon Energy with 31369379, Hindalco with 25895323 shares, DLF with 15790910 shares and ITC with 14989461 shares.
On NSE Future and Options, total number of contracts traded in index futures was 491252 with a total turnover of Rs 11,234.67 Crore. Along with this total number of contracts traded in stock futures were 562563 with a total turnover of Rs 18,593.34 crore. Total numbers of contracts for index options were 902313 with a total turnover of Rs 21,729.35 Crore and total numbers of contracts for stock options were 67771 and notional turnover was Rs 2,377.83 Crore.
Today, Nifty would have a support at 4,774 and resistance at 4,856 and BSE Sensex has support at 16,012 and resistance at 16,256
Market may extend last four days of gains on positive global stocks
The key benchmark indices may extend last four days of gains on positive global cues. Investors will keenly watch India's wholesale price index (WPI) in the year to 29 August due today. The annual rate of inflation fell 0.21 % for the week ended 22 August 2009 compared with previous week's decline of 0.95%.
Key benchmark indices extended gains for the fourth straight session on Wednesday, 9 September 2009. The BSE 30-share Sensex was up 59.88 points or 0.37% to 16,183.55, its highest closing since 30 May 2008 on that day.
The Sensex had jumped 785.22 points or 5.09% in four trading days to 16,183.55 on 9 September 2009 from a recent low of 15,398.33 on 3 September 2009 as revival of monsoon rains, strong response to the initial public offer of Oil India, a survey showing an improvement in business confidence of India Inc and firm global stocks boosted sentiments.
Stocks have risen sharply this year on increased global risk appetite triggered by hopes of a recovery in the global economy after a setback from a financial sector crisis. The Sensex is up 6536.24 points or 67.75% in calendar year 2009 as on 9 September 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex is up 8023.15 points or 98.31% as on 9 September 2009. FII inflow in calendar year 2009 totaled Rs 41536.10 crore (till 8 September 2009).
The Oil India IPO which opened for bidding on 7 September 2009, was subscribed 4 times by 17:00 ST on day three, data on the National Stock Exchange showed. The Oil India initial public offer (IPO) will close today, 10 September 2009. OIL, which produces 3.5 million tonnes of oil annually, will be listed on the bourses on 29 September 2009. The government has fixed Rs 950-1,050 per share price band for the initial public offering of Oil India (OIL), the second state-run firm to hit the market this year after NHPC, and will raise up to Rs 2,777 crore.
The response to Oil India IPO is being closely watched after a tepid secondary market debut of power sector firms NHPC and Adani Power, recently.
Meanwhile, Finance Secretary Ashok Chawla said on Wednesday India's main economic worry is lifting growth in Asia's third-largest economy rather than inflation, adding he saw no need for the central bank to change policy. He further said India's government will not borrow more from the market than its budget target for 2009/10 (April-March).The government plans to borrow Rs 4,51,000 crore ($93 billion) in the fiscal year to fund a fiscal deficit forecast at 6.8 % of gross domestic product.
Asian stocks climbed today as profit from China Yurun Food Group and a higher forecast from Texas Instruments Inc. lifted confidence the global economy is recovering. The key benchmark indices in Hong Kong, South Korea, Singapore and Taiwan rose by between 1.01% to 1.57%. But, China's Shanghai Composite fell 0.82%.
Japan's Nikkei rose 1.36% even as Japanese machinery orders fell more than economists forecast in July. Orders, an indicator of capital spending in the next three to six months, declined 9.3 % from June when they jumped 9.7%.
The US markets closed higher on Wednesday, 9 September 2009 with the S&P 500 touching an 11-month high as the market was lifted through most of the day by strength in commodities, industrials and technology.
The Dow added 49.88 points, or 0.5%, to 9,547.22. The S&P 500 index rose 7.98 points, or 0.8%, to 1,033.37, while the Nasdaq Composite rose 22.62 points, or 1.1%, to 2,060.39. But US stocks had faltered for a while during the day on a Federal Reserve report that the economy will remain weak largely due to unemployment.
Copper drops from year high levels
Prices drop after four consecutive sessions of rally
Copper prices fell from a year high level at Comex on Wednesday, 09 September, 2009. Prices fell after four consecutive sessions of rally after inventories rose and a larger-than-estimated plunge in U.S. consumer borrowing cast doubt on the strength of the economic recovery.
At USA, copper futures for December delivery fell 3.2 cents (1.1%) to 2.924 a pound. Copper fell 2.8% last week. Copper ended August, 2009, higher by 7%.
On the London Metal Exchange, copper for delivery in three months ended lower by $60 (0.9%) at $6,415 a metric ton. On 3 July, 2008, prices had touched an all time intra day high of $8,940.
After August, it was the eighth straight monthly gain for copper. Prices gained 23% in the second quarter. On a year to date basis, prices are higher by 93%.
The U.S. buys about 13% of the 17 million metric tons of copper sold annually and China buys about 20%.
As per latest reports, stockpiles of copper monitored by the London Metal Exchange rose 0.4% today to the highest since May. Also, consumer credit fell for a sixth month in the U.S., the longest decline since 1991, as banks curbed lending.
In the currency market today, the U.S. dollar fell to a new yearly low. The dollar index, which measures the strength of dollar against a basket of other currencies, fell by 0.5% but ultimately settled lower by 0.3%.
In its latest report, Goldman Sachs reported that it has forecast copper to reach $7,650 a ton at the end of 2010.
In FY 2008, copper prices dropped by 54%. Prior to 2008, copper prices ended FY 2007 with a gain of mere 5.5% after a whopping 44% gain in FY 2006. The price of copper gained every year since 2002 as global economic growth boosted demand for the metal used in pipes and wires.
At the MCX, copper for November delivery closed at Rs 312.5/Kg. The closing price was Rs 3.3/Kg (1.04%) lower than previous closing price. Prices rose to a high of Rs 317.6/ Kg and fell to a low of Rs 310.5/Kg during the day's trading.
Among other metals traded in the LME on Wednesday, lead fell 2% to $2,405 a ton and zinc fell 1.2% to end at $1,956 a ton. Nickel rose 0.3% to end at $18,000. Aluminium fell 0.5% at $1,885 a ton.
Crude rises for fourth straight day
Prices rise as dollar continues to weaken
Crude prices ended higher once again on Wednesday, 09 September, 2009. Prices ended higher due to the weak dollar and also as traders anticipated that tomorrow' weekly inventory report will show another drop in crude and crude product inventories for last week.
On Wednesday, crude-oil futures for light sweet crude for October delivery closed at $71.31/barrel (higher by $0.21 or 0.3%). During intra day trading, crude touched a high of $72.52. Last week, crude ended lower by 6.5%. It was the biggest weekly loss for crude in two months.
For the month of August, 2009, crude ended higher by a marginal 0.7%. For the second quarter, crude ended higher by 40%. Crude prices had rallied 11.3% in the first quarter of 2009.
Oil prices had reached a high of $147 on 11 July, 2008 but have dropped almost 51.4% since then. Year to date, in 2009, crude prices are higher by 52.3%.
In the currency market today, the U.S. dollar fell to a new yearly low. The dollar index, which measures the strength of dollar against a basket of other currencies, fell by 0.5% but ultimately settled lower by 0.3%.
Traders are anticipating that tomorrow's energy inventory report will show that crude supplies dropped 1.8 million barrels for the week ended 4 September, 2009. They also predict a drop of 1.5 million barrels in gasoline inventories and an increase of 1.1 million barrels in distillates, which include heating oil and diesel.
The Organization of Petroleum Exporting Countries, which accounts for about one-third of the world's oil production, started their meet in Vienna today.
Also at the Nymex on Wednesday, October reformulated gasoline ended slightly lower at $1.8281 a gallon and October heating oil rose 1.19 cents, or 0.7%, to $1.7944 a gallon.
October natural gas gained 2.2 cents, or 0.8%, to $2.829 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 September delivery closed higher by Rs 25 (0.72%) at Rs 3,485/barrel. Natural gas for September delivery closed higher by Rs 4.1 (3%) at Rs 140.4/mmbtu.
Upmove may continue
The market is likely to stay firm on overnight gains in the US indices and strong Asian markets in morning trades. Major Asian indices like Nikkei, Hang Seng, Kospi, Straits Times and Jakarta Composite are trading with gains of more than 1% each. However, caution should be maintained on account of the prevalance of a intra-day volatility. Among the local indices, the Nifty could test higher levels around the 4850 level and has a support in the 4750-4690 range. The Sensex on the downside may slip to 16024 and may face resistance at 16208.
US indices rallied Wednesday, with the Nasdaq and S&P 500 ending at 11-month highs as investors welcomed a Federal Reserve report that indicated the economy is stabilizing. While the Dow Jones soared by 50 points at 9547, the Nasdaq advanced by 23 points at 2060.
The Indian ADR pack also rallied sharply on the US bourses. Satyam led the upmove and zoomed nearly 4% followed by Rediff & ICICI Bank gained above 3% each. While Infosys, Wipro, Tata Motors, HDFC Bank, VSNL and MTNL flared up marginally. However, Patni Computers lost over 0.50%.
Crude oil prices in the global market edged higher for Ocotober series rose by 21 cents at $71.31 a barreland in the commodity space, the Comex gold for December delivery slipped by $2.70 to settle at $997.10 an ounce.
Daily trend of FII/MF investment in equities
On September 08 2009, FIIs were net buyers of stocks to the tune of Rs1174 crore (purchases worth Rs3929 crore and sales of Rs2755 crore) while domestic mutual funds were net buyers of stocks to the tune of Rs340 crore (purchases worth Rs1020 crore and sales of Rs680 crore).
Morning Call - Sep 10 2009
Indian Equity benchmarks extended their winning streak and closed at fresh 15-month highs on Wednesday amid an extremely choppy session as traders resorted to alternate bouts of profit booking and bargain buying. Oil & Gas and Banking space did extremely well with RIL leading the pack gaining more than 4.5%. Today too we expect the markets to open firm on the back of strong global cues.
US Stocks rallied on Wednesday, with the Nasdaq and S&P 500 ending at 11-month highs as investors welcomed a Federal Reserve report that indicated the economy is stabilizing. Both Dow Jones Industrial Average & Nasdaq were up 0.6% & 0.9% respectively.
Asian markets are also trading higher at this point in time with Hang Seng & Nikkei up 1.7% & 1.4% respectively. Indian ADRs were up across the board with the exception of SBI which was down marginally. Satyam ended as the biggest gainer up more than 4%. Financials too remain strong with both ICICI Bank & HDFC Bank up by 3.6% & 1.4% respectively. Among other Tech ADRs, Wipro & Infosys ended the day with gains of 1.8% a piece. Sterlite was up 1%.
FIIs step up buying
Inflow of Rs 1174.50 crore on 8 September 2009
Foreign institutional investors (FIIs) bought shares worth a net Rs 1174.50 crore on Tuesday, 8 September 2009, higher than Rs 1050 crore on Monday, 7 September 2009.
FII inflow of Rs 1174.50 crore on 8 September 2009 was a results of gross purchases Rs 3929.30 crore and gross sales Rs 2754.80 crore. The BSE Sensex rose 107.35 points or 0.67% to 16,123.67 on that day.
FII inflow in September 2009 totaled Rs 1349.80 crore (till 8 September 2009). Foreign funds had bought equities worth Rs 4028.80 crore in August 2009. FII inflow in calendar year 2009 totaled Rs 41,548.30 crore (till 8 September 2009).
There are a total of 1696 foreign funds registered with the Securities & Exchange Board of India (Sebi).
Bajaj Hindusthan
We recommend a sell in Bajaj Hindusthan from a short-term perspective. It is apparent from the charts that the stock bottomed in March around Rs 40. The uptrend accelerated in May and this rally prolonged until late June. However, after encountering resistance in the band of Rs 230 and 235, the stock reversed direction. Since then, the stock has been on a medium-term downtrend. After breaking through the key support level of Rs 200 (turned in to key resistance) in early June, the stock failed to surpasses this resistance level twice. Reinforcing the downtrend, the stock breached its 21- and 50-day moving averages recently. The daily relative strength index is declining towards the bearish zone and weekly RSI has slipped to the neutral region. Moreover, the daily moving average convergence and divergence indicator are signalling a sell and are hovering in the negative territory. We are bearish on the stock from a short-term perspective. We expect its decline to continue until it hits our price target of Rs 157. Traders with a short-term perspective can sell the stock while maintaining a stop-loss at Rs 184.
via BL
Precious metals turn little pale
Prices trade within narrow boundary
Precious metal prices ended little lower on Wednesday, 09 September, 2009. Prices fell despite the weak dollar. Some extent of profit taking due to gold's recent rally was mainly the reason for precious metals' drop today. The December contract of gold had rallied almost 9% in past four sessions.
Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa.
On Wednesday, gold for September delivery ended at $995.3, lower by $2.6 (0.3%) an ounce on the New York Mercantile Exchange. During intra day trading, trading remained within a narrow boundary. Last week, gold ended higher by 4%. Year to date, gold prices are higher by 14.1%.
Gold ended August, 2009 higher by 0.2%. Before this, for the second quarter, gold ended higher by 0.5%. The metal had gained 4.3% in the first quarter of this year.
On 17 March, 2008 prices had skyrocketed to a high of $1,034/ounce. But prices have dropped somewhat (2.5%) since then.
On Wednesday, Comex silver futures for December delivery fell by 4 cents (0.2%) to $16.47 an ounce. Last week, silver ended higher by 9.9%.
Silver ended 7.1% higher for August, 2009. For second quarter, silver rose 4.5%. Year to date, silver has climbed 43% this year. For 2008, silver had lost 24%.
In the currency market today, the U.S. dollar fell to a new yearly low. The dollar index, which measures the strength of dollar against a basket of other currencies, fell by 0.5% but ultimately settled lower by 0.3%.
In 2008, gold prices ended higher by 5.5%. The dollar index had gained 12% that year.
At the MCX, gold prices for October delivery closed lower by Rs 72 (0.45%) at Rs 15,649 per 10 grams. Prices rose to a high of Rs 15,814 per 10 grams and fell to a low of Rs 15,636 per 10 grams during the day's trading.
At the MCX, silver prices for December delivery closed Rs 78 (0.3%) lower at Rs 26,394/Kg. Prices opened at Rs 26,550/kg and fell to a low of Rs 26,215/Kg during the day's trading.
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