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Wednesday, September 30, 2009
BREAKING - Bharti Airtel - MTN Deal off!
The much-anticipated deal between India's Bharti and South Africa's MTN that aimed to merge the two telecom giant has failed yet again. The contentious issue of dual listing proved to be the deal breaker, learns CNBC-TV18.
Bharti, in a statement, said, the company has decided to disengage itself from the deal. “We hope the South African government will review its position in the future and allow both the companies an opportunity to re-engage.” The statement further said that the South African government had expressed its inability to accept it in the current form. Also, it stated, Bharti would continue to explore international expansion opportunity and could also re-look at the deal if the SA government changes position.
via CNBC-TV18
Bellwether scales 17K
Key indices touched new record highs today with Sensex touching the high of 17143 (crossing 17000 first time after May 2008) and Nifty crossing its 5088 level again on intra-day basis.
The market resumed at 16852.91 marginally up on firm global cues and the mood remained upbeat on strong buying in banking, automobile and capital goods (CG) stocks. Sensex added 274 points to its kitty to close at 17127, while Nifty added 77 points to close at 5084
Number of advancing shares outdid declining shares. On BSE, 1,598 stocks advanced, while 1,183 stocks declined. Seventy-seven stocks remained unchanged. Banking, automobile and CG stocks saw buying interest with BSE Auto and BSE CG rising by 3.69% and 2.13% respectively. BSE FMCG and BSE CD were down marginally.
Among major gainers, State Bank of India flared 5.01% to Rs2,195.70, ICICI Bank added 4.63% to Rs904.80, Maruti Suzuki India shot up by 3.70% to Rs1,698.90, Mahindra & Mahindra rose 3.46% to Rs881.20, Sterlite Industries moved up 3.46% to Rs775.35, Wipro advanced 3.30% to Rs601.75, while Reliance Communications, DLF, Bharat Heavy Electricals, Larsen & Toubro, HDFC Bank were up by 2-3%. Among scrips that were down were ONGC that dropped 1.25% to Rs1,171.30, ITC that slipped 1.07% to Rs231.90, Grasim Industries that shed 0.73% to quote at Rs2,768.35 and Bharti Airtel down that was down by measly 0.07% to trade at Rs418.55.
Ispat Industries was the most actively traded share, with over 81.42 lakh shares changing hands on BSE followed by GTL Infrastructure (73.44 lakh shares), Unitech (66.10 lakh shares), Suzlon Energy (63.24 lakh shares) and Ambuja Cement (62.65 lakh shares).
NSE Bulk Deals to Watch - Sep 30 2009
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
30-SEP-2009,3IINFOTECH,3i Infotech Limited,LIFE INSURANCE CORPORATION OF INDIA,BUY,794761,79.00,-
30-SEP-2009,DISHMAN,DISHMAN PHARMA & CHEM LTD,TNTBC AS THE TRUSTEE OF NOMURA INDIA STOCK MOTHER FUND,BUY,880000,258.79,-
30-SEP-2009,DOLPHINOFF,Dolphin Offshore Enterpri,MADHUKAR CHIMANLAL SHETH,BUY,234726,285.00,-
30-SEP-2009,EVERONN,Everonn Education Limited,CELEBRATE INDIA TOURISM LIMITED,BUY,80500,434.54,-
30-SEP-2009,EVERONN,Everonn Education Limited,JP MORGAN FUNDS,BUY,265046,426.01,-
30-SEP-2009,EVERONN,Everonn Education Limited,MBL & COMPANY LTD.,BUY,78490,433.81,-
30-SEP-2009,EXCELINFO,Excel Infoways Limited,PARESH SANATKUMAR RACHH,BUY,192152,78.24,-
30-SEP-2009,FAME,Fame India Limited,SETU SECURITIES LTD,BUY,298258,34.08,-
30-SEP-2009,FAME,Fame India Limited,THIRDWAVE BUSINESS AIDS PVT. LTD.,BUY,200490,33.97,-
30-SEP-2009,FCSSOFT,FCS Software Solutions Li,DSN SECURITIES LTD.,BUY,88000,96.06,-
30-SEP-2009,FCSSOFT,FCS Software Solutions Li,OM INVESTMENTS,BUY,72531,97.18,-
30-SEP-2009,FCSSOFT,FCS Software Solutions Li,TRANSGLOBAL SECURITIES LTD.,BUY,79407,96.34,-
30-SEP-2009,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,BUY,7565092,23.40,-
30-SEP-2009,ITI,ITI Ltd.,BP FINTRADE PRIVATE LIMITED,BUY,161295,45.33,-
30-SEP-2009,ITI,ITI Ltd.,PRAGYA EQUITIES PVT. LTD.,BUY,118671,43.78,-
30-SEP-2009,ITI,ITI Ltd.,SETU SECURITIES LTD,BUY,271603,45.32,-
30-SEP-2009,ITI,ITI Ltd.,SHRI VIDYASAGAR INVESTMENT ARPIT PATODI,BUY,114866,44.87,-
30-SEP-2009,PVP,PVP Ventures Limited,CITI GROUP GLOBAL MARKETS MAURITIUS PVT LTD,BUY,2700000,42.50,-
30-SEP-2009,SADBHAV,Sadbhav Engineering Limit,EMERGING INDIA FOCUS FUNDS,BUY,117000,871.00,-
30-SEP-2009,VARUN,Varun Industries Limited,SETU SECURITIES LTD,BUY,163578,189.99,-
30-SEP-2009,ZYLOG,Zylog Systems Limited,MADHU CHHAPARIA,BUY,89475,333.28,-
30-SEP-2009,ZYLOG,Zylog Systems Limited,OM PRAKASH SARAOGI,BUY,83189,333.48,-
30-SEP-2009,ZYLOG,Zylog Systems Limited,STHITHI INSURANCE SERVICES PRIVATE LIMITED,BUY,199972,334.33,-
30-SEP-2009,3IINFOTECH,3i Infotech Limited,ICICI BANK LIMITED - INVESTMENT,SELL,2935000,80.05,-
30-SEP-2009,ANSALHSG,Ansal Housing and Constru,MERRILL LYNCH CAPITAL MARKETS ESPANA S.A. SVB,SELL,94000,60.01,-
30-SEP-2009,DOLPHINOFF,Dolphin Offshore Enterpri,CLEARWATER CAPITAL PARTNERS (CYPRUS) LIMITED,SELL,239406,285.03,-
30-SEP-2009,DOLPHINOFF,Dolphin Offshore Enterpri,MADHUKAR CHIMANLAL SHETH,SELL,34672,303.49,-
30-SEP-2009,EVERONN,Everonn Education Limited,MBL & COMPANY LTD.,SELL,78490,433.84,-
30-SEP-2009,EXCELINFO,Excel Infoways Limited,PARESH SANATKUMAR RACHH,SELL,87479,78.74,-
30-SEP-2009,FAME,Fame India Limited,SETU SECURITIES LTD,SELL,282341,33.82,-
30-SEP-2009,FAME,Fame India Limited,SHAIL INVESTMENTS PVT. LTD.,SELL,350000,33.79,-
30-SEP-2009,FCSSOFT,FCS Software Solutions Li,DSN SECURITIES LTD.,SELL,68000,96.65,-
30-SEP-2009,FCSSOFT,FCS Software Solutions Li,OM INVESTMENTS,SELL,72531,97.26,-
30-SEP-2009,FCSSOFT,FCS Software Solutions Li,TRANSGLOBAL SECURITIES LTD.,SELL,78407,96.33,-
30-SEP-2009,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,7652242,23.41,-
30-SEP-2009,ITI,ITI Ltd.,BP FINTRADE PRIVATE LIMITED,SELL,121066,45.04,-
30-SEP-2009,ITI,ITI Ltd.,PRAGYA EQUITIES PVT. LTD.,SELL,118671,44.21,-
30-SEP-2009,ITI,ITI Ltd.,SETU SECURITIES LTD,SELL,230397,45.09,-
30-SEP-2009,ITI,ITI Ltd.,SHRI VIDYASAGAR INVESTMENT ARPIT PATODI,SELL,114866,45.17,-
30-SEP-2009,POLARIS,Polaris Software Lab Ltd,ORBITECH LIMITED,SELL,688550,151.23,-
30-SEP-2009,PVP,PVP Ventures Limited,PVP MALAXMI ENERGY VENTURES PRIVETE LTD,SELL,2700000,42.50,-
30-SEP-2009,SADBHAV,Sadbhav Engineering Limit,GAMMON INDIA LTD,SELL,117000,871.00,-
30-SEP-2009,VARUN,Varun Industries Limited,SETU SECURITIES LTD,SELL,164985,189.53,-
30-SEP-2009,ZYLOG,Zylog Systems Limited,MADHU CHHAPARIA,SELL,89475,334.38,-
30-SEP-2009,ZYLOG,Zylog Systems Limited,OM PRAKASH SARAOGI,SELL,83189,334.45,-
30-SEP-2009,ZYLOG,Zylog Systems Limited,STHITHI INSURANCE SERVICES PRIVATE LIMITED,SELL,199972,333.32,-
BSE Bulk Deals to Watch - Sep 30 2009
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
30/9/2009 532628 3I INFOTECH LIFE INSURANCE CORPORATION OF INDIA B 2405239 79.00
30/9/2009 532628 3I INFOTECH ICICI BANK LIMITED - INVESTMENT S 2842000 79.79
30/9/2009 500488 ABBOTT INDIA ARION COMMERCIAL PVT LTD B 79203 728.35
30/9/2009 532047 ASIAN FILMS JMP SECURITIES PVT LTD B 3857256 0.30
30/9/2009 532047 ASIAN FILMS LILAC FARMS PRIVATE LIMITED S 3768330 0.30
30/9/2009 532047 ASIAN FILMS JMP SECURITIES PVT LTD S 1809326 0.34
30/9/2009 532047 ASIAN FILMS EDELWEISS ESTATES PRIVATE LIMITED S 1078718 0.29
30/9/2009 508664 BEST E.HOTEL GIRISHBHAI SUNDERLAL SHAH S 13999 97.75
30/9/2009 526839 CCAP LTD RAJASTHAN GLOBAL SEC LTD B 28037 62.58
30/9/2009 532363 COMP-U-LEARN MULTIPLIER S AND S ADV PVT LTD B 75000 22.15
30/9/2009 532760 DEEP INDS HITESH SHASHIKANT JHAVERI B 101489 119.95
30/9/2009 532760 DEEP INDS HITESH SHASHIKANT JHAVERI S 101751 119.95
30/9/2009 506414 DIL LTD DATLA RENUKA S 14344 282.72
30/9/2009 522261 DOLPHIN OFF HEMANT ASHAR B 120000 270.25
30/9/2009 522261 DOLPHIN OFF SAMIR ARVIND THAKKAR B 142500 260.05
30/9/2009 522261 DOLPHIN OFF INVESTMENTS XITIJ B 299946 272.37
30/9/2009 522261 DOLPHIN OFF CLEARWATER CAPITAL PARTNERS (CYPRUS) LIMITED S 760594 265.77
30/9/2009 504351 EMPOWER INDS ANAHAITA NALIN SHAH B 76053 26.90
30/9/2009 504351 EMPOWER INDS SANJAY S MAHADIK S 76052 26.90
30/9/2009 500495 ESCORTS LTD. OPG SECURITIES P LTD B 436522 109.02
30/9/2009 500495 ESCORTS LTD. OPG SECURITIES P LTD S 441522 109.14
30/9/2009 532876 EVERONN OPG SECURITIES P LTD B 153365 439.34
30/9/2009 532876 EVERONN OPG SECURITIES P LTD S 153365 439.43
30/9/2009 532666 FCS SOFTWARE TRANSGLOBAL SECURITIES LTD. B 105107 96.27
30/9/2009 532666 FCS SOFTWARE OPG SECURITIES P LTD B 262360 96.23
30/9/2009 532666 FCS SOFTWARE TRANSGLOBAL SECURITIES LTD. S 105107 96.43
30/9/2009 532666 FCS SOFTWARE OPG SECURITIES P LTD S 262360 96.26
30/9/2009 532022 FILAT FASH AYODHYAPATI INVESTMENT PVT LTD B 50000 25.40
30/9/2009 532022 FILAT FASH AADESH COMMODITIES PRIVATE LTD B 106475 27.91
30/9/2009 532022 FILAT FASH SANGEETA ASHWIN SHAH S 72921 27.85
30/9/2009 532022 FILAT FASH AADESH COMMODITIES PRIVATE LTD S 154344 25.64
30/9/2009 530743 GEI IND SYS HEMANT ASHAR S 92500 76.69
30/9/2009 530469 GSL SECURITE SHWETA ASHOK SHAH B 19250 6.38
30/9/2009 530469 GSL SECURITE NEHA GOPAL SHARMA S 19000 6.39
30/9/2009 532859 HGSL AASIA MANAGEMENT & CONSULTANCY PVT LTD B 322280 521.00
30/9/2009 532859 HGSL HINDUJA REALTY VENTURES LTD S 322280 521.00
30/9/2009 500189 HINDUJA VENT AASIA MANAGEMENT & CONSULTANCY PVT LTD B 400000 363.00
30/9/2009 500189 HINDUJA VENT HINDUJA REALTY VENTURES LTD S 400000 363.00
30/9/2009 509684 INDIA FOILS SAINATH HERBAL CARE MARKETING P.LTD B 154388 17.53
30/9/2009 509684 INDIA FOILS SAINATH HERBAL CARE MARKETING P.LTD S 164635 17.30
30/9/2009 504336 INDTRADECO L RUPESH PANPALIYA HUF S 1500000 0.48
30/9/2009 504336 INDTRADECO L PRAVIN DEEPSINH CHAVDA S 1151524 0.48
30/9/2009 523467 JAI MATA GLA ASEEM KUMAR GOYAL B 18000 5.08
30/9/2009 523467 JAI MATA GLA DHEERAJ KUMAR B 44788 5.07
30/9/2009 523467 JAI MATA GLA VARUN KUMAR B 18516 5.08
30/9/2009 523467 JAI MATA GLA KULVINDER SINGH B 18000 5.05
30/9/2009 523467 JAI MATA GLA Naman Securities & Finance Pvt. Ltd. B 40249 5.05
30/9/2009 523467 JAI MATA GLA JMP SECURITIES PVT LTD B 191427 5.06
30/9/2009 523467 JAI MATA GLA GIRISH KUMAR JAIN B 20000 5.05
30/9/2009 523467 JAI MATA GLA BP FINTRADE PRIVATE LIMITED B 17777 5.17
30/9/2009 523467 JAI MATA GLA GROWMORE PROPERTIES PVT LTD S 70348 5.05
30/9/2009 523467 JAI MATA GLA MOTI LAL BHASIN S 225850 5.06
30/9/2009 523467 JAI MATA GLA Naman Securities & Finance Pvt. Ltd. S 34613 5.05
30/9/2009 523467 JAI MATA GLA HITESH SHASHIKANT JHAVERI S 15000 5.05
30/9/2009 523467 JAI MATA GLA JMP SECURITIES PVT LTD S 91427 5.05
30/9/2009 523467 JAI MATA GLA INDUSTRIAL DEVELOPMENT BANK OF INDIA S 110000 5.12
30/9/2009 523467 JAI MATA GLA BP FINTRADE PRIVATE LIMITED S 17777 5.05
30/9/2009 530255 KAY POW PAP BAMPSL SECURITIES LTD. B 68594 7.16
30/9/2009 530255 KAY POW PAP SATISH KUMAR GUPTA B 70934 7.28
30/9/2009 530255 KAY POW PAP GIRRAJ PRASAD GUPTA B 67500 7.28
30/9/2009 530255 KAY POW PAP BAMPSL SECURITIES LTD. S 68494 7.31
30/9/2009 530255 KAY POW PAP SATISH KUMAR GUPTA S 70934 7.17
30/9/2009 531602 KOFF BR PICT MALA HEMANT SHETH S 830722 2.02
30/9/2009 519570 LAKSHMI OVER SWISS FINANCE CORPORATION (MAURITIUS) LIMITED B 320000 134.60
30/9/2009 519570 LAKSHMI OVER MERRILL LYNCH CAPITAL MARKET ESPANA SA SVB S 320000 134.60
30/9/2009 532407 MOSCHIP SEMI JERMYN CAPITAL GDR S 240510 11.68
30/9/2009 531496 OMKAR OVERSE CHAMPALAL GOPIRAM AGARWAL S 29250 121.10
30/9/2009 511702 PARSHART INV PRADIPBHAI RAMBHAI PATEL B 25986 22.07
30/9/2009 531646 RFL INTERNAT NILESH KRUSHNA PALANDE B 187000 1.50
30/9/2009 531646 RFL INTERNAT ANIL ANGAD BHILL B 31000 1.50
30/9/2009 531646 RFL INTERNAT PUSHPA HIRACHAND BAFNA B 30000 1.50
30/9/2009 531646 RFL INTERNAT UNIVERSAL CREDIT B 69675 1.50
30/9/2009 531646 RFL INTERNAT VORA JIGEN RASIKLAL HUF S 332175 1.50
30/9/2009 526407 RIT PRO IND ATOZ STEEL SP LTD B 89900 22.54
30/9/2009 526407 RIT PRO IND 4A FINANCIALS SECURITIES PVT LTD S 90000 22.53
30/9/2009 517534 S.V.ELECTRIC DEVRAJ AGARWAL B 53500 17.10
30/9/2009 517534 S.V.ELECTRIC VASUDEO SECURITIES PVT LTD S 50000 17.10
30/9/2009 506172 SAMPADA CHEM SHREE SATYANARAIN PROPERTIES PRIVATE LTD S 25000 25.49
30/9/2009 524540 SECUN HEALTH SAMEER N SHAH B 59225 29.05
30/9/2009 524540 SECUN HEALTH SAMEER N SHAH S 59849 29.13
30/9/2009 524540 SECUN HEALTH S SRIDHAR S 53000 28.98
30/9/2009 532993 SEJAL GLASS RAJSHAH ENTERPRISES PVT LTD S 140000 60.50
30/9/2009 532993 SEJAL GLASS RAJSHAH ENTERPRISES (P)LTD S 140000 60.14
30/9/2009 526133 SUPERTEX IND SHAISHIL TUSHARKUMAR JHAVERI S 57787 46.10
30/9/2009 531917 TWINSTA SO E BIPIN KUMAR RAMNIKLAL GANDHI B 100000 3.95
30/9/2009 531917 TWINSTA SO E NAMITA STOCKTRADE PRIVATE LIMITED S 100000 3.95
30/9/2009 532917 VARUN INDS HITESH SHASHIKANT JHAVERI S 119612 189.92
30/9/2009 503657 VEER ENERGY AANGI SHARES & SERVICES PVT. LTD. B 701633 20.71
30/9/2009 503657 VEER ENERGY AANGI SHARES & SERVICES PVT. LTD. S 670885 20.33
30/9/2009 531874 VENUS VENT ARCHANA PRADIPBHAI BIREWARARCHANA B 28175 80.00
30/9/2009 531874 VENUS VENT ARCHANA PRADIPBHAI BIREWARARCHANA S 31597 80.26
30/9/2009 531874 VENUS VENT KAUSHIK RAJNIKANT MEHTA S 30300 80.17
30/9/2009 531874 VENUS VENT PATCHAVA SRIKANTH S 50000 80.70
30/9/2009 530477 VIKRAM THERM DIPIKA N GUPTA B 11300 18.44
30/9/2009 531249 WELL PACK PA PANDYA YAMINIBEN M B 35788 278.41
30/9/2009 531249 WELL PACK PA SHASHIKANT KESHAVLAL SHAH B 30000 278.35
30/9/2009 531249 WELL PACK PA PANDYA YAMINIBEN M S 26210 279.05
30/9/2009 531249 WELL PACK PA NARENDRA KUMAR SHAH S 29950 278.55
30/9/2009 522029 WINDSOR MACH CHANDRAKANT JVALLA KATI B 100000 28.50
30/9/2009 522029 WINDSOR MACH SAINATH HERBAL CARE MARKETING P.LTD B 100000 29.39
30/9/2009 522029 WINDSOR MACH CHANDRAKANT JVALLA KATI S 100000 29.40
30/9/2009 522029 WINDSOR MACH SHILPA MILIND DESAI S 100000 28.50
Sensex ends above 17k; Nifty above 5k
The Sensex surged past the 17,000 mark at close for the first time since May 21, 2008 due to sustained buying by foreign funds in frontline stocks on hope of strong quarterly earnings. Banking and auto stocks led the advances.
It opened on a flat note with positive bias tracking subdued global cues. Later it gained ground and touched the psychological level of 17,000 on persistent buying witnessed in index heavyweights. It continued upward march and broke all the resistance levels after touching day`s high of 17,142.52. Whereas Sensex`s counterpart Nifty closed at 52 week high. Opening of positive European market also boosted the sentiment.
BSE Midcap and Smallcap index rose 0.95% and 0.94% respectively.
European stocks rose extending the Dow Jones Stoxx 600 Index`s biggest quarterly rally this decade. UK`s benchmark index FTSE 100 gained 10.10 points, or 0.20%, to trade at 5,170.92. French benchmark index CAC 40 increased 18.54 points, or 0.49%, to trade 3,832.45. Germany`s benchmark index DAX rose 12.91 points, or 0.23%, to trade at 5,727.36. (4.15 p.m, IST)
The Sensex ended the day with a gain of 273.93 points, or 1.63% at 17,126.84 after touching a high of 17,142.52 and a low of 16,868.46. The broad-based NSE Nifty gained 77.10 points, or 1.54% at 5,083.95 after hitting a high of 5,087.60 and a low of 5,004.35.
Major gainers in the 30-share index were State Bank Of India (5.01%), ICICI Bank (4.63%), Maruti Suzuki India (3.70%), Mahindra & Mahindra (3.46%), Sterlite Industries (India) (3.46%), and Wipro (3.30%).
On the other hand, Oil & Natural Gas Corporation (1.25%), ITC (1.07%), Grasim Industries (0.73%), and Bharti Airtel (0.07%) were the major losers in the Sensex.
Overall market breadth was sharply positive. Out of the total 2,857 stocks traded at BSE, 1,598 advanced, 1,181 declined while 78 remained unchanged.
Among the sectoral indices, BSE Bankex which climbed 3.69%, Auto climbed 2.13%, Capital Goods climbed 1.74%, Metal went up 1.55% and Realty climbed 1.43%, while BSE FMCG declined 0.42%, Consumer Durables fell 0.26%.
Post Session Commentary - Sep 30 2009
Indian market extended its initial gains to close sharply higher on sustained buying over the ground led by hopes that quarterly earnings would top expectations. The BSE Sensex hit its highest level in more than 16 months, as broke 17,000 level during the trading and ended above 17,100 level. Besides, NSE Nifty also touched its highest level in more than 16 months and closed above 5,050 mark. Stocks hit fresh high on rise in the index of six core sector industries that stood at 255.3 in August 2009, with a growth of 7.1% as compared to a growth of 2.1% in August 2008. The index of six sectors has a combined weight of 26.7% in the Index of Industrial Production (IIP). Further, stocks raised also on positive European markets and higher US index futures. However, volume on the exchange was low, as investors opted to remain on sidelines on shortened trading week. The market will remain close on Friday, 2 October 2009, on account of Gandhi Jayanti.
The market opened marginally higher backed by mixed cues from the global markets. Asian stocks today opened in green whereas the US stock market closed lower on Tuesday. There was short of leadership in all of the sectors on account of some poor consumer confidence data for September that recorded fall for the month of August. Further, Indian benchmark indices gained ground soon after start on fresh buying interest across the indices. Stocks continued to extend gains on optimism about the second quarter results after a surge in the advance tax collections to post a positive growth in second quarter after reporting a negative growth in the first quarter. Finally, market ended with strong gains on positive sentiments led by firm European markets. From the sectoral front huge buying was witnessed in Bank, Auto, Metal, Capital Good, Realty, IT and PSU stocks. Mid Cap and Small Cap stocks also followed the same trend. However, FMCG and Consumer Durable stocks witnessed most of the selling from these baskets.
Among the Sensex pack 26 stocks ended in green territory and 4 in red territory. The market breadth indicating the overall health of the market remained positive as 1598 stocks closed in green while 1183 stocks closed in red and 77 stocks remained unchanged in BSE.
The BSE Sensex closed higher by 273.93 or (1.63%) points at 17,126.84 and NSE Nifty ended up by 77.10 points or (1.54%) at 5,083.95. BSE Mid Caps and Small Caps closed with gains of 59.36 and 70.45 points at 6,324.16 and 7,590.04 respectively. The BSE Sensex touched intraday high of 17,142.52 and intraday low of 16,868.46.
Gainers from the BSE Sensex pack are SBI (5.01%), ICICI Bank (4.63%), Maruti Suzuki (3.70%), M&M Ltd (3.46%), Sterlite Industries (3.46%), Wipro Ltd (3.30%), RCom (2.75%), DLF Ltd (2.65%), BHEL (2.30%), L&T Ltd (2.15%), HDFC Bank (2.05%), Reliance (1.63%), Hindalco (1.58%) and TCS Ltd (1.47%).
Losers from the BSE Sensex pack are ONGC Ltd (1.25%), ITC Ltd (1.07%), Grasim Industries (0.73%) and Bharti Airtel (0.07%).
On the global markets front, the Asian markets that opened before the Indian market, ended mixed. Shanghai Composite, Nikkei 225 and Singapore''s Straits ended higher by 24.88, 33.03 and 9.26 points at 2,779.43, 10,133.23 and 2,72.57 respectively. However, Hang Seng and Seoul Composite lost 57.92 and 16.91 points at 20,955.25 and 2,673.14 respectively.
European markets, which opened after the Indian market, are trading up. In Paris the CAC 40 is higher 22.38 points at 3,836.48, in Frankfurt DAX index is trading up 18.66 points at 5,732.18 and in London FTSE 100 is trading higher by 26.01 points at 5,185.73.
The BSE Bank index ended higher by (3.69%) or 350.67 points at 9,855.60 after Finance secretary Ashok Chawla said on Tuesday that there is a need to look at consolidation of banks and that government is not discouraging Indian banks from making overseas acquisitions. Main gainers are Axis Bank (6.09%), Oriental Bank (5.03%), SBI (5.01%), Indian Overseas Bank (4.97%) and ICICI Bank (4.63%).
The BSE Auto index gained (2.13%) or 138.78 points 6,664.25. Gainers are Escorts Ltd (7.03%), Bajaj Auto (4.66%), Maruti Suzuki (3.70%), M&M Ltd (3.46%) and Exide Industries (2.62%).
The BSE Capital Goods index closed higher by (1.74%) or 235.28 points at 13,757.19. Gainers are Aiaengineer (9.78%), Bharat Elect (7.52%), Elecon Eng C (3.94%), Jyoti Struct (2.81%) and BHEL (2.30%).
The BSE Metal index advanced by (1.55%) or 215.8 points at 14,176.62 as LMEX, a gauge of six metals traded on the London Metal Exchange gained 0.25% on Tuesday. Gainers are Jindal Saw (5.40%), Jai Corp Ltd (3.76%), Sterlite Industries (3.46%), JSW Steel (1.60%) and Hindalco (1.58%).
The BSE Realty index increased by (1.43%) or 63.6 points at 4,509.66. Gainers are Parsvnath (16.02%), Omaxe Ltd (8.11%), Anant Raj (4.52%), Orbit Co (4.11%) and Penland Ltd (3.19%).
The BSE FMCG index ended down by (0.42%) or 10.79 points at 2,575.82, as Amrico Ltd (2.19%), Tata Tea Ltd (1.88%), Dabur India (1.83%), ITC Ltd (1.07%) and Colgate Palm (0.55%) ended in red.
Tata Consultancy Services ended higher by 1.47%. The company announced that it has been chosen by Singapore''s People''s Association, a statutory board under the Ministry of Community Development, Youth and Sports, to provide annual Application Management Services (AMS) for two years in a multi-million dollar deal.
Opto Circuits Ltd. closed up by 0.73%. The company''s wholly-owned US-based subsidiary, Criticare Systems Inc. (CSI), has forged a strategic multi-year OEM (Original Equipment Manufacturing) contract with another US company to privately label its anesthesia monitor for the signed partner.
HCC gained 0.73%. The company has signed a MoU with the international engineering and project management company AMEC pic (AMEC) to jointly explore the application of consulting and EPC services for the establishment of nuclear power plants in India.
MindTree Ltd dropped by 0.37%. The global IT Solutions company, today introduced its new Multi-Channel Commerce Solutions, designed to help retailers adopt a more customer-centric strategy.
Edserv Softsystems Ltd gained 3.18%. The companyhas informed that EdServ has acquired 2tion.com, an online education portal for school and college tuition services.
Unity Infraprojects increased by 0.38%. The company has bagged a Rs. 54.56 crore project from Amanora Park Town, Hadaspur, Pune where the project is likely to be finished in 29 months and includes construction of 6 towers, RCC works and gypsum finish.
Wockhardt closed with gains of 7.57%. The company has received tentative approval from the United States Food & Drug Administration (US FDA) for marketing the 0.4mg capsules of Tamsulosin Hydrochloride, which is used for treating Benign Prostatic Hyperplasia (BPH or non-cancerous enlargement of prostate).
Sensex settles above 17,000 for the first time in 16 months
The key benchmark indices extended gains for second straight day on optimism about Q2 September 2009 which will start trickling in from the second week of October 2009. A decent listing of Oil India which settled at a premium of 8.62% over the initial offer price (IPO) of Rs 1,050 also supported market. A decent listing of Oil India comes after tepid debut of two large IPOs in recent months. Gains in European stocks and higher US index futures also bolstered sentiment. The BSE 30-share Sensex rose 273.93 points or 1.63%.
The barometer index closed above the psychological 17,000 level after crossing that level in morning trade for the first time in more than 16 months. The 50-unit S&P CNX Nifty also today hit its highest closing level in more than 16 months. Metal, banking, capital goods and auto stocks led the rally.
After a modest start, the market surged in mid-morning trade. The market extended gains later. The market hit a fresh intraday high in afternoon trade. A small correction pulled the market lower later. The market surged in mid-afternoon trade with the Sensex hitting a fresh intraday high on higher US index futures. The market extended gains in late trade.
There is optimism about Q2 September 2009 results after advance tax collections registered a positive growth in the second quarter after witnessing a negative growth in the first quarter. Corporate advance tax and advance personal income-tax were up by 14.7% and 1.7%, respectively in the September 2009 quarter. Infosys kickstarts the reporting season on 9 October 2009.
Latest economic data has been strong. The index of six core industries having a combined weight of 26.7% in the index of industrial production (IIP) registered a growth of 7.1% in August 2009 compared to a growth of 2.1% in August 2008. During April-August 2009-10, six core industries registered a growth of 4.8% as against 3.3% during the corresponding period of the previous year. Coal and cement sector boosted overall growth in the six infrastructure industries in August 2009.
Meanwhile, the Reserve Bank of India (RBI) deputy governor K C Chakrabarty has said that rising inflationary pressures could limit the scope for a sustained growth supported monetary policy stance. The central bank has aggressively cut policy rates and pumped huge liquidity in the system in the aftermath of the global financial crisis last year. It may be recalled Finance Minister Pranab Mukherjee recently spoke of the need for the fiscal stimulus to continue for a few more quarters until the economy is back on track.
Coming back to equities, a section of the market is, however, concerned that a glut in share sales may suck liquidity from the secondary market. The corporate sector has raised large sums of money through equity and equity related instruments in the past six months or so to either to retire high cost debt or to fund expansion. The supply of paper by Indian firms appear limitless, raising concerns that additional share sales will suck liquidity from the secondary market.
As per one report, companies plan to raise at least Rs 40,000 crore through initial public offers (IPOs)/follow on public offers (FPOs) in the second half of the current financial year. Power companies such as GMR Energy, Indiabulls Power and JSW Energy and state-run Bharat Heavy Electricals and NTPC are likely to tap the primary market. Reliance Infratel also announced on Tuesday, 22 September 2009, its intention to raise Rs 5,000 crore from the primary market. A number of companies are also in the fray to raise funds by way of qualified institutional placement (QIP), reports suggest.
S. Pradhan, the joint secretary of the department of disinvestment, Government of India, today said the government plans to sell stakes in at least five state-run firms by the end of the fiscal year in March 2010 following successful IPOs of two firms that raised $1.8 billion. His statement comes close on the heels of media reports that the government is planning to announce a blueprint for selling its stake in state-owned firms in the first week of October 2009. The policy is expected to suggest how the government will eventually bring down its stake in public sector companies to 75% over a period of time.
European shares rose on Wednesday powered by gains in energy and mining stocks, as commodity prices firmed on the final day of the quarter, offsetting weakness in banks. Key benchmark indices in France, Germany and UK were up by between 0.08% to 0.35%.
Germany's unemployment rate edged lower in September, surprising the market which was expecting an increase, official data showed on Wednesday. German seasonally adjusted unemployment declined by 12,000 over the month, bringing the jobless rate to 8.2% from 8.3% in the previous month, the Federal Labor Office reported.
Most Asian stocks rose shrugging off a surprise fall in US consumer confidence. Key benchmark indices in Japan, China, Taiwan, South Korea were up by between 0.37% to 1.07%. Key benchmark indices in Hong Kong and Singapore were down by between 0.28% to 1%.
A gauge of China's manufacturing activity released Wednesday indicated expansion for the sixth straight month in September, although conditions cooled slightly from August, suggesting the rebound in industrial activity remains intact but is beginning to level off.
Japanese manufacturers increased production for a sixth month in August, capping the longest stretch of gains in 12 years, as emergency spending by governments worldwide rekindled global trade. Factory output rose 1.8% last month after climbing 2.1% in July, the Trade Ministry said today in Tokyo.
The International Monetary Fund (IMF) will reportedly raise its 2010 growth forecast for the world economy to 3.1% from 2.5% to reflect improving economic conditions. The IMF is due to update its forecasts in its World Economic Outlook to be released in Istanbul on Thursday, 1 October 2009. The IMF is likely to revise its global forecast for this year to a 1.1% contraction from a negative 1.4% predicted earlier.
The IMF on Wednesday said it cut its estimate of global bank losses by 15% due to rising asset values, but warned that credit will continue to deteriorate and that banks have yet to recognize more than half their expected write-downs.
Trading in US index futures indicated the Dow could gain 32 points at the bell on Wednesday, 30 September 2009.
US markets ended lower on Tuesday, 29 September 2009 as a drop in consumer confidence dragged on the market. The Dow Jones Industrial Average fell 47.16 points, or 0.5%, to 9,742.20. The S&P 500 index dropped 2.38 points, or 0.2%, to 1,060.60, and the Nasdaq Composite index shed 6.70 points, or 0.3%, to 2,124.04.
The US consumer-confidence index dropped to 53.1 in September from 54.5 in August. Economists had expected the gauge to rise to 57.
Meanwhile, the S&P/case-shiller home price report for July was better-than-expected. The report showed a 13.3% year-over-year decline, which was better than the 14.2% decline expected. Home prices continued to rebound, up for a third straight month in July, after a three-year slide.
The BSE 30-share Sensex rose 273.93 points or 1.63% to 17126.84, its highest closing since 21 May 2008. The Sensex rose 289.61 points at the day's high of 17,142.52 in late trade. The barometer index rose 15.55 points at the day's low of 16,868.46 in early trade.
The S&P CNX Nifty rose 77.10 points or 1.54% to 5,083.95, its highest closing level since 21 May 2008. Nifty October 2009 futures were at 5073, at a discount of 10.95 points as compared to the spot closing of 5083.95. Turnover in NSE's futures & options (F&O) segment surged to Rs 55,412.81 crore from Rs 45,244.04 crore on Tuesday, 29 September 2009.
BSE clocked a turnover of Rs 5642 crore, higher than Rs 5,006 crore on Tuesday, 29 September 2009.
The market breadth, indicating the overall health of the market was strong. On BSE, 1,593 shares rose as compared with 1,183 that declined. A total of 76 shares remained unchanged.
Among the 30-member Sensex pack, 26 rose and rest fell.
The Sensex rose 2,633 points or 18.16% to in the quarter ended 30 September 2009 from its closing of 14,493.84 on 30 June 2009. The Sensex is up 7,479.53 points or 77.52% in calendar year 2009 as on 30 September 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex is up 8,966.44 points or 109.87% as on 30 September 2009. FII inflow in the calendar year 2009 totaled Rs 57,525.70 crore (till 25 September 2009).
Coming back to today's trade, the BSE Mid-Cap index rose 0.95% and the BSE Small-Cap index rose 0.94%. Both the indices underperformed the Sensex.
The BSE Bankex (up 3.69%), the BSE Auto index (up 2.13%), the BSE Capital Goods index (up 1.74%), outperformed the Sensex.
The BSE FMCG index (down 0.42%), the BSE Consumer Durables index (down 0.26%), the BSE Healthcare index (up 0.55%), the BSE Oil & Gas index (up 0.77%), the BSE Power index (up 0.98%), the BSE PSU index (up 1%), the BSE Teck index (up 1.03%), the BSE IT index (up 1.28%), the BSE Realty index (up 1.43%), the BSE Metal index (up 1.55%), underperformed the Sensex.
Index heavyweight Reliance Industries (RIL) rose 1.63% to Rs 2201.20. In the face of opposition from the Power Ministry and Anil Ambani group firm Reliance Infrastructure on the marketing margins charged, Reliance Industries (RIL) has justified the levy saying it was essential to cover risks and costs incurred in marketing of gas.
Terming as illegal the market margin, Reliance Infra had refused to pay the levy prompting RIL to issue a notice for suspension of fuel supply for "default". NTPC has sought to know whether the margins levied by RIL had government's approval.
RIL had said on 24 September 2009 it has signed gas supply agreement with state-run utility NTPC to supply gas for some of its power plants for five years. Reliance will supply 0.61 million standard cubic metres a day (mscmd) to NTPC, and expects to start supplies within a week.
Meanwhile, recent report suggest the outlook for Asian oil refiners, previously hit by a sharp fall in margins, is now improving on a likely ramp-up in demand and slowing capacity expansion.
Oil exploration stocks were mixed on a decent debut of Oil India. India's biggest state-run oil exploration firm by revenue Oil & Natural Gas Corporation (ONGC) fell 1.25% to Rs 1171.30 off the day's high of Rs 1213. ONGC on 23 September 2009 said it will invest over Rs 5000 crore in the next two years in bringing new oil and gas finds into production. Cairn India rose 0.31%.
India's second biggest oil and gas exploration firm by revenue Oil India settled at Rs 1,140,55, a premium of 8.62% over the IPO price of Rs 1050. The stock debuted on the BSE at Rs 1019, a discount of 2.95% over the IPO price of Rs 1050.
Metal stocks rose as LMEX, a gauge of six metals traded on the London Metal Exchange gained 0.25% on Tuesday, 29 September 2009. Tata Steel, Steel Authority of India, National Aluminum Company, Hindustan Zinc, Hindalco Industries, JSW Steel rose by between 0.39% to 1.58%.
India's largest copper maker by sales Sterlite Industries rose 3.46%. A US bankruptcy judge on 24 September 2009 rejected attempts by India's Sterlite Industries to sweeten its offer for U.S. copper miner Asarco LLC, and recommended for the second time that rival bidder Grupo Mexico SAB de CV regain control of the company. Sterlite, however, maintained it was still in the race to acquire the copper miner.
Sterlite said on 21 September 2009 said that it would release Grupo Mexico from a potential legal liability of nearly $8 billion if the Indian miner can win control of bankrupt US copper miner Asarco LLC.
In a court document filed on Monday, Sterlite said that if a federal court approves its plan to acquire Asarco over rival bidder Grupo Mexico's offer, it would not hold Grupo Mexico liable for more than about $900 million of liability related to the 2003 transfer of a Peruvian mine. Sterlite, a unit of India-focused mining company Vedanta Resources, has been facing off with Mexican miner Grupo Mexico for acquiring control Asarco, which has been under bankruptcy protection since 2005.
Banking stocks rose after Finance secretary Ashok Chawla on Tuesday said there is a need to look at consolidation of banks and that government is not discouraging Indian banks from making acquisitions abroad. Bank stocks also got support on higher advance tax payment by some top banks in the second installment this fiscal.
India's largest bank by net profit and branch network State Bank of India rose 5.01%. Chairman O.P. Bhatt on 8 September 2009 said the bank's earnings are likely to grow 30-35% in Q2 September 2009 over Q2 September 2008.
India's largest private sector bank by net profit ICICI Bank rose 4.63%. Its ADR rose 0.28% on Tuesday. India's second largest private sector bank by net profit HDFC Bank rose 2.05% even as its ADR fell 0.26% on Tuesday.
Auto stocks rose on expectations of a pick up in demand in the ongoing festive season which began with Dussehra on Monday, 28 September 2009. Leading auto firms will release their monthly sales data for September 2009 over the next two days.
India's largest tractor maker by sales Mahindra & Mahindra rose 3.46%. India's top small car maker by sales Maruti Suzuki India rose 3.7%. India's largest motorbike maker by sales Hero Honda Motors rose 1.01%. Bajaj Auto rose 4.66%.
As per reports, the government will release pay arrears to government employees under the second and final installment ahead of big festivals in October 2009. The payout would boost demand for cars and motorcycles.
India's largest truck maker by sales Tata Motors rose 0.1%. Tata Motors-owned Jaguar Land Rover on 24 September 2009 unveiled a new business plan for the next decade, under which it will invest substantially in a new range of eco-friendly vehicles. The plan, designed to increase global competitiveness, drive growth and sustain profitability, envisages an investment of £800 million (over Rs 6,200 crore) on environmental innovation alone, part-supported by the European Investment Bank.
The plan will also see the company shutting down of one of its plants, in a bid to cut costs and to improve its financial health.
India's largest engineering and construction firm by sales Larsen & Toubro rose 2.15% on reports company is close to launching a $600 million share sale to institutional investors. Citigroup, Morgan Stanley and Bank of America Merrill Lynch are the arrangers to the offer.
Meanwhile, Larsen & Toubro is reportedly eyeing big bucks from the nuclear power business with annual revenue projections of Rs 7,000-8,000 crore. The company, has already entered into agreement with four major global vendors of nuclear power equipment.
India's largest power equipment maker by sales Bharat Heavy Electricals rose 2.3% after the company said on Wednesday it had won a Rs 270 crore ($56 million) contract in Belarus to build a 120 megawatts power plant.
IT stocks rose for the second straight day as an increase in the mergers & acquisitions in the United States suggested that companies are more optimistic about the business outlook. US is the biggest market for Indian IT firms. India's third largest software services exporter by sales Wipro rose 3.3% as its American depository receipt (ADR) rose 1.45% on Tuesday.
India's second largest software services exporter by sales Infosys rose 0.9% as its ADR rose 0.42% on Tuesday.
India's largest IT exporter by sales Tata Consultancy Services rose 1.47% after the company said before market hours today it had signed a multi-million dollar deal with a Singapore state organisation to provide annual application management services for two years.
A news agency recently quoted TCS chief executive S. Ramadorai as saying that the company expects a recovery in the global banking sector to boost its revenues this year. Ramadorai said the company was seeing some signs of a recovery in the demand for outsourcing, especially from the banking, financial services and insurance sectors that account for 43% of its business.
Construction shares rose as higher government spending on infrastructure sector in the Union Budget 2009-2010 to provide a stimulus to the economy, may result in increase order flow for construction. Nagarjuna Construction Company, Gayatri Projects, Valecha Engineering, Era Infra Engineering rose by between 0.37% to 6.72%.
The government has set a target of spending $20 billion a year on road construction.
Jaiprakash Associates rose 1.32%. The company on 23 September 2009 raised around Rs 1,190 crore through sale of 5 crore treasury shares by way of bulk deals on the bourses.
Cement stocks rose as a thrust on the infrastructure sector in the Union Budget 2009-2010 may keep cement demand strong. Birla Corporation, Ambuja Cements, Ultratech Cement and ACC rose by between 0.6% to 3.31%. Cement makers recently cut prices by Rs 3 per 50 kilogram bag in Mumbai.
Power stocks rose as the government has planned a huge expansion in power generation capacity over the next few years in a bid to reduce the power shortage in the country. Tata Power Company, Reliance Power, NTPC, Torrent Power, Power Grid Corporation of India, Reliance Infrastructure, rose by between 0.33% to 4.51%.
India's largest mobile services provider by sales Bharti Airtel was flat at Rs 418.55 as the deadline for the exclusivity of talks for a proposed $24 billion tie-up with South Africa's MTN expires today, 30 September 2009. Last week, India's market regulator unexpectedly altered the country's takeover rules, meaning that South Africa's MTN might be required to make an offer for an additional 20% stake in Bharti. The two parties have already twice extended deadlines for the talks aimed at creating an emerging-markets giant with more than 200 million customers across India, Africa and the Middle East.
Some FMCG stocks rose on revival of annual monsoon since mid-August. FMCG firms derive substantial revenue from the rural sector. Hindustan Unilever, United Spirits, Britannia Industries, Nestle India rose by between 0.08% to 2.54%.
Sugar stocks rose as white sugar hit a record high in London on Tuesday as excessive rains in top grower Brazil fed fears of a supply shortage. Balrampur Chini Mills, Shree Renuka Sugars, Bajaj Hindustan rose by between 1.4% to 2%.
Cals Refineries clocked highest volume of 2.13 crore shares on BSE. Sanraa Media (1.25 crore shares), Asian Films (0.89 crore shares), Oil India (0.87 crore shares) and Karuturi Global (0.82 crore shares) were other volume toppers in that order.
Oil India clocked highest turnover of Rs 996.6 crore on BSE. Reliance Industries (Rs 240.27 crore), Axis Bank (Rs 204.62 crore), ICICI Bank (Rs 167.49 crore) and State Bank of India (Rs 137.09 crore) were other turnover toppers in that order.
Pre Session Commentary - Sep 30 2009
Today domestic markets are likely to open positive as majority of Asian markets have opened in green. On the other hand US markets shed some gains to close in red due to poor consumer confidence data for the month of September. The opening could be a marginally higher, followed by a narrow range bound trade throughout the day as majority of frontline stocks have reached their peak levels. The domestic markets are likely to trade range bound today.
On Tuesday, Indian market extended its initial gains to close higher a wave of merger-and-acquisition activity in US market, glimmered a rally in Asian Stocks. Further, stocks raised also on sustained buying sentiments. Though, stocks pared some of its gains during afternoon trading as some profit booking emerged due to settlement issue, as the banks will remain closed tomorrow due to half yearly book closure. However, the markets managed to regain its momentum despite negative European stocks. In addition, benchmark indices witnessed a bit of volatility ahead of the closing of the market on coming Friday (Oct 2, 2009) due to celebration of the Gandhi Jayanti. The BSE Sensex ended above 16,800 level and NSE Nifty closed above 5,000 mark.
The BSE Sensex closed higher by 159.91 or (0.96%) points at 16852.91 and NSE Nifty ended up by 47.90 points or (0.97%) at 5,006.85. BSE Mid Caps and Small Caps closed with gains of 37.87 and 69.34 points at 6,264.80 and 7,519.59 respectively. The BSE Sensex touched intraday high of 16,907.84 and intraday low of 16,802.80.
On Tuesday, US markets closed lower. There was lack of leadership in any of the sectors due to some poor consumer confidence data for September that recorded at 53.1 as against the expected 54.5 for the month of August. Markets started on a higher note due to better-than-expected S&P/Case-Shiller Home Price Report for July. The report''s 20-City Composite reported a 13.3% year-over-year decline, which wasn''t bad as expected 14.2% decline. On macro economic level, FDIC will require insured institutions to prepay estimated quarterly risk-based assessments into 2012 seemed to weight on bank stocks. Diversified bank stocks plummeted by 1.9%. The consumer finance stocks were also worst hit as they lost 1.9%. Crude oil futures for the month of November delivery closed lower by 0.2% at $66.71 per barrel on New York Mercantile Exchange.
The Dow Jones Industrial Average (DJIA) closed lower by 47.16 points at 9,742.20. NASDAQ index declined by 6.70 points at 2,124.04 and the S&P 500 (SPX) declined by 2.37 points to close at 1,060.61 points.
The FIIs on Tuesday stood as net buyers in equity and net sellers in debt. Gross equity purchased stood at Rs 5,440.30 Crore and gross debt purchased stood at Rs 488.00 Crore, while the gross equity sold stood at Rs 2,128.40 Crore and gross debt sold stood at Rs 2,523.20 Crore. Therefore, the net investment of equity and debt reported were Rs 3,311.90 Crore and Rs (2,035.20) Crore respectively.
Today the major stock markets in Asia opened positive. The Shanghai Composite is trading higher by 9.65 at 2,764.19. Hang Seng is low by 56.88 points at 20,956.29. Further Japan''s Nikkei is up by 6.58 points at 10,106.78. Straits Times is also trading low by 7.16 points at 2,656.15 and South Korea’s Seoul Composite is up by 0.77 points at 1,690.82. Taiwan Weighted is also up by 79.52 points at 7,509.50.
On BSE, total number of shares traded were 46.92 Crore and total turnover stood at Rs 5,027.48 Crore. On NSE, total number of shares traded were 77.01 Crore and total turnover was Rs 15,094.40 Crore.
Top traded volumes on NSE Nifty – Unitech with total volume traded 35044356 shares, followed by Suzlon Energy with 21922053, Bharti Airtel with 8253336, Hindalco with 7454430 and Ambuja Cements with 7300733 shares.
On NSE Future and Options, total number of contracts traded in index futures was 419976 with a total turnover of Rs 10,053.52 Crore. Along with this total number of contracts traded in stock futures were 438609 with a total turnover of Rs 14,868.01 crore. Total numbers of contracts for index options were 756146 with a total turnover of Rs 19,049.40 Crore and total numbers of contracts for stock options were 36733 and notional turnover was Rs 1,273.11 Crore.
Today, Nifty would have a support at 4,979 and resistance at 5,049 and BSE Sensex has support at 16,744 and resistance at 16,986.
Oil India Grey Market Listing Premium
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Oil | 1050 | 40 to 45 |
| Pipavav Shipyard | 58 | 2 to 2.50 |
| Thinksoft Global | 115 to 125 | 1 to 1.50 |
| Euro Multi Vision | 70 to 75 | 4 to 4.50 |
Weak global indices indicate negative open
The market is likely to remain under pressure following the weak Asian indices in the ongoing trades. However, prevailing strong bullish sentiment may help the market to remain positive with a sideways movement during intra-day trades. Among the major domestic indices, the Nifty could test 4904 on the downside and faces resistance at 5020. The Sensex has a likely support at 16613 and test higher levels of 17050.
US indices slipped Tuesday after a surprise drop in consumer confidence countered a better-than-expected housing market report. That added to lingering questions about the strength of an economic recovery. The Dow Jones lost 47 points to close at 9742 and the Nasdaq ended 7 points lower at 2124.
Indian floats trading on the US bourses had a mixed outing on Tuesday, the losers were, Dr Reddy lost over 4.70% while Tata Motors, HDFC Bank, Rediff and VSNL lost marginally. However, Wipro gained over 1% and Infosys, Satyam, ICICI Bank and Patni Computers gained marginally.
Crude oil prices declined marginally, with the Nymex light crude oil for November series sliding by 13 cents to close at $66.71 a barrel. In the commodity space, the Comex gold for November series advanced 30 to settle at $994.40 a troy ounce.
Daily trend of FII/MF investment in equities
On September 25 2009, FIIs were net buyers of stocks to the tune of Rs3312 crore (purchases worth Rs5440 crore and sales of Rs2128 crore) while domestic mutual funds were net sellers of stocks to the tune of Rs107 crore (purchases worth Rs581 crore and sales of Rs688 crore.
ETC Networks
We recommend a buy in the stock of ETC Networks from a short-term perspective. It is apparent from the charts that the stock found support at Rs 50, a key long-term support level in March, and reversed direction. Since then it has been on an intermediate-term uptrend. Following a short-term correction, the stock resumed its intermediate-term uptrend from the middle of July. Later on, it breached its 50-day moving average and is trading well above it. The stock broke through a key medium-term resistance at Rs 150 by jumping 10 per cent with above average-volume on September 29. Both daily and weekly relative strength indices (RSI) are featuring in the bullish territory. The daily moving average convergence and divergence indicator has signalled a buy and is hovering in the positive territory. Considering that the intermediate-term up trendline of the stock is intact, we are bullish from a short-term horizon. We expect the stock to rally until it hits our price target of Rs 174. Traders with a short-term perspective can buy the stock while maintaining a stop-loss at Rs 150.
via BL
Daily News Roundup - Sep 30 2009
L&T to raise US$600mn from institutions through equity issuance. (ET)
L&T expects Rs80bn revenues from nuclear power capacity addition programme. (ET)
L&T has developed expertise to manufacture nuclear power plants of 3,000-4,000MW says Chairman, AM Naik. (FE)
GAIL to spend Rs180bn in next three years to augment its gas transportation network by 6,000kms. (ET)
Bharati Shipyard and ABG Shipyard are expected to receive SEBI nod for Great Offshore open offer soon. (ET)
The government has threatened to cancel the coal block allotted jointly to ArcelorMittal and GVK Power in Jharkhand for their inordinate delay in developing the property. (FE)
Bharati Shipyard is considering a Rs2bn capital expenditure over the next two years. (FE)
IDBI Bank cuts new home and auto loan rates. (FE)
Oil India plans to set up mini liquefied natural gas plants to monetize natural gas in Assam fields. (ET)
Bharti Airtel launches 1mbps IPTV services. (BL)
Billing rates to be under pressure, says Mastek. (BL)
Wockhardt gets FDA nod for marketing 0.4mg capsules of Tamsulosin hydrochloride drug. (FE)
TCS to provide an end-to-end system integration services to Carnation Auto, a Jagdish Khattar initiative. (BS)
TVS Group is set to create its brand in green power energy through a new company. (BS)
ADAG chucks out plan to grow stock and commodity exchange business. (BS)
L&T Info bagged a multi-year, multi-million dollar contract from a large German semiconductor manufacturer, Infineon Technologies AG.
GSPC gets second LNG cargo at Dahej terminal. (BL)
Omaxe to invest Rs15bn over the next three years. (FE)
Financial Technologies to raise Rs15bn by issuing shares in international market and by private placements. (ET)
Shree Ashtavinayak gets board approval to raise Rs7.2bn through FCCB/ADR/GDR. (ET)
Mindtree to acquire Kyocera Wireless arm for US$6mn. (ET)
Kingfisher Airlines to increase its international operations. (ET)
Jet Airways to sell its Mumbai land to raise Rs10bn. (ET)
Lodha Developers, Prime City and Emaar MGF have filed DRHP to raise as much as Rs100bn. (BS)
Parsvanath Developers plans to raise US$35mn through private placement of shares. (BS)
UCO Bank asks government for Rs7.5bn aid. (FE)
Ingersoll-Rand has revived an earlier plan to buy back shares. (BS)
Nagarjuna Fertilizers has revamped its operations and raised its production capacity from 1.2mtpa to 1.56mtpa with an investment of Rs2bn. (BL)
K Sera Sera Production is planning to set up its own studios and is also looking for tie-ups for various projects. (BL)
Dabhol LNG terminal to be operational by November. (BS)
The Centre is considering dual rates under the GST regime. (FE)
Economy to grow by 7% in FY10 says Chief Economic Advisor. (ET)
Price pressure waging on expansionary stance, says RBI. (ET)
OIL’s well, that starts well!
Vitality shows in not only the ability to persist but the ability to start over.
The opening moments will be dominated more by Oil India’s listing. The market will be keen to see how the stock behaves after a tepid debut for Adani Power and NHPC. We expect another positive start though Asian stock markets are mixed after overnight losses on Wall Street. If global cues remain indecisive the market might just turn choppy again being a curtailed week.
Chief economic advisor says India will grow at 7% this fiscal. It’s become a habit for top bureaucrats and government officials to talk about GDP growth. Take each prediction with a pinch of salt. Still, there is no denying that India will do well, notwithstanding the deficit monsoon. Fund flows are likely to remain strong as money tends to chase visibility in growth and earnings.
The tricky part is the market has already had a terrific run in anticipation of the imminent rebound. So, it remains to be seen how long the current momentum continues. The scope for further advance does appear to be limited and every rise will be interrupted with periodic falls. Overall the mood remains upbeat.
A slew of real estate players are planning IPOs. This includes a few dodgy names. So buyers beware. India Inc’s money raising binge continues with more and more companies feeling confident about approaching investors.
The Government has stuck to its borrowing programme for the second half. Fiscal deficit may or may not shoot up depending on how the economy shapes up. The Centre will release the latest fiscal deficit figures today. The RBI will come out with the Balance of Payment and Current Account Deficit data.
The RBI's monetary policy stance going ahead will hinge on the intensity and pace of an impending spike in inflation. Most experts expect it to be among the first central banks in the world to start raising rates. The story is different in other parts of the world, where inflation is yet to rear its ugly head. In fact, prices are declining in advanced economies like the US, Europe and Japan.
FIIs were net buyers of Rs7.14bn in the cash segment on Monday on a provisional basis. The local funds were net buyers of Rs917.7mn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs6.97bn. On Friday, FIIs were net buyers of Rs33.12bn in the cash segment. The net FII investments in Indian stocks this year have crossed $11.8bn. Mutual Funds were net sellers of Rs1.07bn on Friday.
The US employment recovery is not in sight until next year, which is a major cause for concern as subdued American consumers is bad news for the global economy. On the other hand, there are a few worries on China's method of pump-priming and whether it can sustain the pace. This reinforces a growing view that the world economic recovery will be a gradual one rather than a swift one. The next batch of quarterly earnings will provide more clues. Meanwhile, the recent pick-up in M&As does bode well.
US stocks ended lower on Tuesday as a surprise drop in consumer confidence offset a better-than-expected housing market report. That added to lingering concerns about the strength of an economic recovery.
The Dow Jones Industrial Average lost 47 points, or 0.5%, to 9,742.20. The S&P 500 index lost 2 points, or 0.2%, to 1,060.61. The Nasdaq Composite index shed 2 points, or 0.2%, to 2,124.04.
US stocks turned lower after the release of the consumer confidence report. By afternoon, stocks turned volatile.
After sliding last week, US stocks had bounced back on Monday as investors welcomed multi-billion dollar M&A news involving Abbott Labs and Xerox. But the advance was short lived, with investors again showing caution after a seven-month rally that has left the leading indexes at nearly one-year highs.
Since bottoming at a 12-year low March 9, the S&P 500 has gained just shy of 57% and the Dow has gained around 49%, as of Tuesday's close. After hitting a six-year low, the Nasdaq has gained nearly 68%.
In the day's main economy news, consumer confidence dropped in September, potentially a bad sign ahead of the critical holiday retail sales period. The Conference Board said its consumer confidence index fell to 53.1 from 54.5 in August. Economists were expecting the index to rise to 57.
The pace of falling home prices continued to slow, according to a report released before the markets opened. The Case-Shiller 20-city home price index rose 1.6% in July from June, more than triple what economists were expecting.
Prices dropped 13.3% in July versus a year ago, a decline that was slower than the drop of 14.2% economists were expecting. Prices fell 15.4% year-over-year in June.
CIT Group, fighting to pay off debt and avoid bankruptcy, is reportedly negotiating a new credit facility that could total $10 billion. Shares of the lender jumped 31%. Earlier, reports said that hedge fund manager John Paulson was considering merging CIT with failed mortgage lender IndyMac.
Dell unveiled its newest high-end, super-thin personal computer late on Monday. Called the Latitude Z, the 4.5-pound PC will retail for $1,999. Dell shares fell 3%.
JPMorgan Chase said it is shuffling some of the management responsibilities of its successful investment banking and asset management units. Shares were little changed.
Drugstore chain Walgreen reported weaker quarterly earnings and higher quarterly revenue, both of which topped analysts' estimates. Shares rose 9%.
Sequenom's board said it has removed most of its management team, including the CEO, following a scandal involving mishandling of research and results on its prenatal Down syndrome test. Shares of the genetic analysis product developer fell 39% in unusually active NYSE trading.
The dollar rose versus the yen and euro, pushing higher after repeatedly hitting one-year lows against a basket of currencies over the last few weeks.
US light crude oil for October delivery fell 13 cents to settle at $66.71 a barrel on the New York Mercantile Exchange.
COMEX gold for December delivery rose 30 cents to settle at $994.40 an ounce. Gold closed at a record high of $1,020.20 two weeks ago.
Treasury prices slumped, raising the yield on the benchmark 10-year note to 3.29% from 3.28% late on Monday.
Tuesday is the first anniversary of the Dow's biggest one-day point loss of all time, when the average plummeted 777.68 points and the broad market knocked out $1.2 trillion in value. The plunge followed the House of Representatives' decision to reject the government's then $700 billion bank bailout plan.
The crash followed a brutal two-week roller-coaster, triggered by the near-meltdown of Fannie Mae and Freddie Mac and the collapse of Lehman Brothers.
European shares advanced, led by gains in financials such as French-headquartered BNP Paribas after it said that it will sell 4.3 billion euros ($6.27 billion) of shares in a rights issue to help it repay the French government's investment in the bank.
The pan-European Dow Jones Stoxx 600 index advanced 0.2% to 243.61, extending the 1.8% gain when deal making moved back on the global stage.
The French CAC-40 index slipped 0.3% to 3,814.10, the UK's FTSE 100 index eased 0.1% to 5,159.72 and Germany's DAX index dropped 0.4% to 5,713.52.After enjoying an extended weekend, the Indian markets were back to winning ways right from the first minute. After initial gains, markets traded in a narrow range throughout the day and managed to hold on to it till the end. The NSE Nifty ended above the 5,000 mark again led by gains in the index heavyweights like ICICI Bank, Infosys and ONGC.
The IT and the Pharma stocks were among the top gainers followed by the Oil & Gas and select telecom stocks. Even the Mid-Cap and the Small-Cap stocks participated. On the other hand the Realty stocks suffered marginal losses.
Global cues also were quite supportive; US markets ended in the green for the first time in 3 days, stocks in Asia also ended in the positive terrain except Shanghai SE Composite index in China which fell by half a percent.
Finally, the BSE Sensex gained 160 points or 1% at 16,853 after touching a high of 16,907 and a low of 16,801. The index opened at 16,829 against the previous close of 16,693. The NSE Nifty added 48 points to shut shop at 5,006.
In Asia, the Nikkei in Japan was down 1%, while Australia's S&P/ASX ended higher by 1.6% at 4,753. Shanghai SE Composite in China was down by 0.3% at 2,754. However, the Hang Seng index in Hong Kong ended higher by 2% at 21,013.
In Europe, stocks were in the red. The FTSE in the UK was down 0.3%, The DAX in Germany was down 0.5% and the CAC 40 index in France was down 0.4%.
Coming back to India, among the BSE sectoral indices, the IT index was the top gainer, adding 2.2%, followed by the Oil & Gas index that was up 1.5% and the BSE Teck index was up 1.5%.
Among the major losers were, BSE Realty index down 0.8% and BSE Auto index marginally down 0.2%.
The BSE Mid-Cap index gained 0.5% and the BSE Small-Cap index was up 0.7%.
Among the 30-components of Sensex, 19 stocks ended in the green and 11 ended in the negative terrain. Among the major gainers were ICICI Bank, Reliance Industries, Infosys, ONGC and TCS.
On the other hand, SBI Grasim, JP Associates, RCom and ITC were among the major laggards.
Outside the frontline indices, the big gainers in the broader market were MRPL, GSPL, Chennai Petro, Petronet LNG, Mphasis and EKC. On the other hand, losers included Tulip Tele, Shriram Transport, Union Bank, Ackruti and Thermax.
Shares of Cipla gained by 5% to Rs279. The stock opened at Rs269 and made an intra-day high of Rs281.5 and a low of Rs268. Total traded volumes stood at 1.1mn shares.
Cipla raised ~Rs6.71bn through a QIP of shares to fund expansion and retire debt. The shares were sold an average price of Rs263.75 a piece, resulting in an equity dilution of around 4%.
The company would require capital expenditure of around Rs6bn this financial year and the company’s debt stands at Rs9.4bn. Around Rs9.2bn of debt is repayable this year. CLSA, JP Morgan and Kotak Mahindra Capital were arrangers to the issue.
Shares of Abbott India shot up by over 18% to Rs679 after the company announced that it plans to purchase Solvay Pharmaceuticals unit for about US$6.6bn in cash.
The buyout will give Abbott a 100% stake in its TriCor/Trilipix cholesterol franchise, medicines it had been co-marketing with Solvay.
The Solvay buyout is expected to bolster Abbott's presence in emerging markets. Solvay has a "significant presence in key markets" including Russia, India and Brazil, "where Abbott has also been building its presence," chairman and CEO Miles White said during a conference call.
Meanwhile, shares of Solvay Pharma rallied by over 17% to Rs959 and on the other hand, Dishman Pharma have advanced by over 10% to Rs227.
MindTree has signed an agreement with Kyocera Wireless Corp. (KWC) to acquire Kyocera Wireless (India) Pvt Ltd, its Indian subsidiary. The acquisition is subject to legal and statutory requirements, as well as certain closing conditions.
Under the agreement, MindTree will make an upfront payment of approximately US$6mn, and further payments linked to revenues in financial years 2010-11 and 2011-12.
MindTree expects this acquisition to contribute approximately US$9mn in revenues for the period October 2009 to March 2010, with Profit After Tax expected to be in the range of 13-15%.
Shares of MindTree gained 4.5% to Rs619. The stock opened at Rs603 and made an intra-day high of Rs632 and a low of Rs602. Total traded volumes stood at 0.11mn shares.
Shares of Era Infra staged a smart recovery and gained 2% to Rs165. The stock fell over 8% hitting an intra-day low of Rs140 per share.
~4.62mn equity shares or 3.2% of equity changed hands in 10 transactions. The stock opened at Rs156 and made an intra-day high of Rs171 and a low of Rs140. Total traded volumes stood at 10.6mn shares.
Shares of Unity Infraprojects gained by 1% to Rs408 after the company announced that it received a project worth Rs545.6mn by Amanora Park Town for construction of six towers, RCC works and upto gysum finish - (R21) Sector, Amanora Park Town, Hadapsar, Pune to be completed in 29 months.
The stock opened at Rs406 and made an intra-day high of Rs414 and a low of Rs402. Total traded volumes stood at 46,000 shares.
Videocon Ind gained by 3% to end at Rs253.8 after the company clarified stating that they have not taken any decision to spin off oil, gas assets. The stock opened at Rs250 and made an intra-day high of Rs258 and a low of Rs246. Total traded volumes stood at 1.8mn shares.
Shares of Usher Agro gained by 1.5% to Rs41.2 after the company announced that it has planned to increase the rice milling capacity by another 300,000 M.T.P.A. at the company`s existing rice milling complex at Chhata, Dist. Mathura, U.P.
The company’s products offering include rice, wheat, wheat products, foodstuffs and food grains. The company has its two rice mill plants located at Mathura in Uttar Pradesh and has one unit at Buxar in Bihar.
Shares of Hanung Toys were locked at 10% upper circuit at Rs93.30 on the back of huge volumes. The stock opened at Rs85.2 and made an intra-day high of Rs93.3 and a low of Rs84.75. Total traded volumes stood at 0.33mn shares.
The stock hit 52-week high of Rs162 on Sept 26, 2008 and a 52-week low of Rs24.25 on January 23, 2009.
Copper remains almost unchanged
Strong dollar keeps prices under control
Copper prices remained almost unchanged on Tuesday, 29 September, 2009 at Comex but dropped at LME. Prices fell today once again due to the strong dollar.
At USA, copper futures for December delivery ended up by 0.2 cents (0.04%) to 2.729 a pound. Copper fell 1.6% last week. Copper ended August, 2009, higher by 7%.
On the London Metal Exchange, copper for delivery in three months ended lower by $35 (0.6%) at $5,975 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 89%. In September, prices are headed for the first monthly drop in FY 2009.
The U.S. buys about 13% of the 17 million metric tons of copper sold annually and China buys about 20%.
In the currency market on Tuesday, the dollar remained extremely volatile. The dollar gained ground especially against the Japanese currency after the nation's finance minister hinted at the possibility of intervention to arrest the yen's rise. The dollar index, which measures the strength of dollar against a basket of other currencies, rose by almost 0.2%.
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 289.9/Kg. The closing price was Rs 1/Kg (0.34%) lower than previous closing price. Prices rose to a high of Rs 292.8/ Kg and fell to a low of Rs 286.5/Kg during the day's trading.
Among other metals traded in the LME on Tuesday, lead fell marginally to $2,204 a ton and zinc rose marginally to end at $1,882 a ton. Nickel added 0.6% to end at $16,850. Aluminium fell 0.3% to $1,827 a ton.
Precious metals end mixed
Yellow metal manages to add little spark
Precious metal prices ended mixed with yellow metal ending slightly higher on Tuesday, 29 September, 2009. But dollar's movement kept the gains under control.
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 Tuesday, gold for December delivery ended at $994.4, higher by $0.30 (0.03%) an ounce on the New York Mercantile Exchange. Earlier during the day, it rose to a high of $997.2 and also fell to a low of $986.1 during intra day trading. Last week, gold ended lower by 1.9%. Year to date, gold prices are higher by 13%.
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 (4%) since then.
On Tuesday, Comex silver futures for December delivery fell 1.5 cents (0.1%) to $16.18 an ounce.
Silver ended 7.1% higher for August, 2009. For second quarter, silver rose 4.5%. Year to date, silver has climbed 45% this year. For 2008, silver had lost 24%.
In the currency market on Tuesday, the dollar remained extremely volatile. The dollar gained ground especially against the Japanese currency after the nation's finance minister hinted at the possibility of intervention to arrest the yen's rise. The dollar index, which measures the strength of dollar against a basket of other currencies, rose by almost 0.2%.
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 5 (0.03%) at Rs 15,542 per 10 grams. Prices rose to a high of Rs 15,569 per 10 grams and fell to a low of Rs 15,456 per 10 grams during the day's trading.
At the MCX, silver prices for December delivery closed Rs 131 (0.5%) lower at Rs 25,999/Kg. Prices opened at Rs 26,199/kg and fell to a low of Rs 25,850/Kg during the day's trading.
Crude ends marginally lower
Prices drop but recover from intra day low level
Crude prices ended marginally lower at Nymex on Tuesday, 29 September, 2009. But prices managed to come off their intra day lows. Mixed batch of economic reports weighed on the crude prices.
On Tuesday, crude-oil futures for light sweet crude for November delivery closed at $66.71/barrel (lower by $0.13 or 0.2%). During intra day trading, prices fell to a low of $65.82 and also rose to a high of $67.33. Last week, crude ended lower by 8%.
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 65% since then. Year to date, in 2009, crude prices are higher by 41%.
The Conference Board in USA reported on Tuesday, 29 September, 2009 that the U.S. consumer confidence index fell in September as Americans grew more concerned about the economy, their job prospects and their incomes. The consumer confidence index fell to 53.1 in September from 54.5 in August, reversing part of August's nearly seven-point gain.
In the currency market on Tuesday, the dollar remained extremely volatile. The dollar gained ground especially against the Japanese currency after the nation's finance minister hinted at the possibility of intervention to arrest the yen's rise. The dollar index, which measures the strength of dollar against a basket of other currencies, rose by almost 0.2%.
Among other energy products on Tuesday, gasoline for October delivery fell 0.8 cents to $1.63 a gallon. Heating oil for October rose 0.9 cents to $1.70 a gallon.
Also on Tuesday, natural gas rose, with the new front-month November contract up 5 cents, or 1%, to $4.88 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 October delivery closed lower by Rs 28 (0.9%) at Rs 3,210/barrel. Natural gas for October delivery closed higher by Rs 6.8 (2.9%) at Rs 237.7/mmbtu.
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