Idea Cellular

Idea Cellular

Sensex ends in green; FMCG, Oil & gas up

The Sensex ended with mild gains led by Oil & gas, FMCG and PSU stocks, while realty stocks dropped. It opened on a quiet note with a gain of 18 points, at 17,149.08 on Wednesday tracking firm global cues and suddenly fell into the red. The index soon bounced back into the green and proceeded to trade in positive zone on the back of buying interest seen in frontliners.

Some profit taking was seen at higher levels to finally close in green after touching a high of 17,290.48 and low of 17,124.15.

BSE Midcap and Smallcap index declined 0.12% and 0.16% respectively.

European stocks rose for a second day this week as gains in utilities helped offset a report that showed housing starts in the US unexpectedly fell in October. UK`s benchmark index FTSE 100 rose 23.18 points, or 0.44%, to trade at 5,347.18. French benchmark index CAC 40 climbed 16.74 points or 0.44% to trade at 3,819.10. Germany`s benchmark index DAX increased 14.26 points or 0.25% to trade at 5,784.70 (4.30 pm)

Asian stocks rose, led by mining companies and automakers, after Australia`s central bank said the country`s economy had entered a `new upswing` and a Japanese export report beat economist estimates. Japanese benchmark index Nikkei 225 gained 40.06 points, or 0.43%, to end at 9,441.64. Hong Kong`s Hang Seng is rose 188.66 points, or 0.84%, to end at 22,611.80. China`s Shanghai Composite increased 66.64 points, or 2.07% to end at 3,290.16.

The Sensex ended the day with a gain of 67.87 points, or 0.40% at 17,198.95 after touching a high of 17,290.48 and a low of 17,124.15. The broad-based NSE Nifty climbed 17.60 points, or 0.35% at 5,108.15 after hitting a high of 5,138.00 and a low of 5,078.35.

Major gainers in the 30-share index were Hero Honda Motors (2.24%), ITC (1.93%), Hindustan Unilever (1.75%), HDFC Bank (1.46%), Maruti Suzuki India (1.34%), and ACC (1.29%).

On the other hand, DLF (2.91%), Reliance Capital (1.74%), Reliance Communications (1.44%), Jaiprakash Associates (1.16%), Tata Motors (0.90%), and Reliance Infrastructure (0.78%) were the major losers in the Sensex.

Overall market breadth was negative. Out of the total 2,849 stocks traded at BSE, 1,290 advanced, 1,486 declined while 73 remained unchanged.

Among the sectoral indices, BSE FMCG which gained 1.44%, Oil & Gas climbed 1.09%, PSU gained 0.70%, Bankex rose 0.51% and Capital Goods went up 0.50%, while BSE Realty declined 2.93%, dropped 0.66%, HC lost 0.49%, Consumer Durables lost 0.12% and TECk fell 0.03%.

New Listing

Astec Lifesciences settled at a 2.26% premium to Rs 83.85 against its issue price of Rs 82 a share on the National Stock Exchange (NSE).

On the NSE, the scrip opened at Rs 83 a share, a premium of 1.22% over its issue price of Rs 82 a share. The scrip has touched a high of Rs 90.70 a share and a low of Rs 83 a share, its opening price. A total of 13.24 million shares exchange hands.

On the Bombay Stock Exchange (BSE), the shares of the company settled at 2.32% higher at Rs 83.90 against its issue price of Rs 82 a share, after opening at Rs 85.55 a share. The scrip touched a high of Rs 90.70 a share and a low of Rs 80 a share.

Sensex sees 17200

Today's major news

Reliance Industries reopens petrol outlets; the stock rises by 0.81%.

Infosys Technologies may acquire European company; the stock surges 0.33%.

Indian Hotels Company may sell its hotel in Australia; the stock ends 0.76% higher.

J Kumar Infraprojects bags orders from Larsen & Toubro; the stock jumps up by 0.05%.

Suzlon Energy inks 42MW contract with Australian firm; the stock ends 1.82% lower.

Click here for more stories

Post-market summary

Global signals

The rise in optimism on economic recovery front, after the US Federal Reserve's statement on Tuesday, doubled with surge in commodity stocks today and led the European stock markets open strong. Each of the markets was trading with gains of close to 0.7% at the time of writing this report.

Major Asian indices that opened mixed turned green except the Jakarta Composite that fell by 0.42%. SGX Nifty surged to 5115, up by 42 points.

The US stock index posted over 0.5% gains at the time of writing this report ahead of the thanksgiving holiday on Thursday, as investors await a slew of economic data that will be out today.

Indian indices

Sensex opened almost flat, merely 18 points higher at 17149. However as global indicators turned positive and recorded decent gains, the index surged. The market remained range-bound thereafter and swung by mere 166 points, losing the venom as seen in the recent past. However late buying in FMCG and oil & gas stocks helped the bellwether sustain the gains and close 68 points higher at 17199. Nifty closed at 5108, up by 18 points.

Sensex sentiment

The market breadth, the number of advancing shares to declining shares, was marginally negative. Out of 2,849 stocks traded on the BSE, 1,290 stocks advanced whereas 1436 stocks declined. Seventy-three stocks closed unchanged.

Sectoral & stock screening

Of the 13 sector indices, nine closed higher while four closed lower. Only BSE FMCG (up 1.44%), BSE Oil & Gas (up 1.09%)and BSE Realty (down 2.93%) were perceptibly up or down while the remaining 11 sector indices were either marginally up or down.

On stocks’ front, BPCL topped the chart surging by 6.88% followed by United Phosphorus (up 5.98%). Sintex Industries, Areva T&D and Crompton Greaves were up by over 5% each. Among losers, Indiabulls Real Estate slid the most by 5.00%, followed by Tech Mahindra that fell by 4.85% and HDIL that shed 4.55%.

Viewing volumes

On turnover front, Over 0.88 crore shares of Suzlon Energy changed hands on BSE followed by Unitech (0.80 crore shares), HDIL (0.39 crore shares), Indian Hotels Company (0.36 crore shares) and GVK Power & Infrastructures (0.34 crore shares).

BSE Bulk Deals to Watch - Nov 25 2009

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
25/11/2009 531519 ANKUSH FINSTOCK PATEL RAMESHBHAI S 50000 4.54
25/11/2009 531519 ANKUSH FINSTOCK NAGARAJ SHETTY S 50000 4.10
25/11/2009 533138 ASTEC LIFE MERCURY FUND MANAGEMENT CO.LTD. B 199228 85.78
25/11/2009 533138 ASTEC LIFE DEEPAK SHANTILAL CHHEDA B 149839 86.41
25/11/2009 533138 ASTEC LIFE GENUINE STOCK BROKERS PVT. LTD. B 346208 86.93
25/11/2009 533138 ASTEC LIFE KHUSHAL INVESTMENTS PRIVATE LIMITED B 220927 87.06
25/11/2009 533138 ASTEC LIFE TRANSGLOBAL SECURITIES LTD. B 357510 86.39
25/11/2009 533138 ASTEC LIFE MBL & Co. LTD. B 109336 86.26
25/11/2009 533138 ASTEC LIFE NARENDRABHAI AMTRATLAL AMIN B 183232 86.20
25/11/2009 533138 ASTEC LIFE MATRIX EQUITRADE PVT. LTD. B 149331 87.89
25/11/2009 533138 ASTEC LIFE MARWADI SHARES AND FINANCE LTD. B 213529 87.66
25/11/2009 533138 ASTEC LIFE OPG SECURITIES P LTD B 921611 87.11
25/11/2009 533138 ASTEC LIFE MANSUKH SECURITIES & FINANCE LTD B 110572 86.80
25/11/2009 533138 ASTEC LIFE HEMANSHU SHAH B 426509 86.42
25/11/2009 533138 ASTEC LIFE R.M.SHARES TRADING PVT.LTD B 139667 87.03
25/11/2009 533138 ASTEC LIFE SPS SHARE BROKERS PRIVATE LIMITED B 100000 89.00
25/11/2009 533138 ASTEC LIFE SUBH FINANCE & LEASING PVT LTD B 126403 85.89
25/11/2009 533138 ASTEC LIFE JHAVERI TRADING & INVESTMART PVT LTD B 132055 86.48
25/11/2009 533138 ASTEC LIFE RAKHI KALPESH BHANDARI B 210259 85.72
25/11/2009 533138 ASTEC LIFE NAVEEN TAPARIA B 211071 86.22
25/11/2009 533138 ASTEC LIFE MERCURY FUND MANAGEMENT CO.LTD. S 199228 85.24
25/11/2009 533138 ASTEC LIFE DEEPAK SHANTILAL CHHEDA S 149839 86.52
25/11/2009 533138 ASTEC LIFE GENUINE STOCK BROKERS PVT. LTD. S 346208 86.99
25/11/2009 533138 ASTEC LIFE KHUSHAL INVESTMENTS PRIVATE LIMITED S 220927 87.22
25/11/2009 533138 ASTEC LIFE TRANSGLOBAL SECURITIES LTD. S 357510 86.21
25/11/2009 533138 ASTEC LIFE MBL & Co. LTD. S 109336 86.17
25/11/2009 533138 ASTEC LIFE NARENDRABHAI AMTRATLAL AMIN S 183232 87.43
25/11/2009 533138 ASTEC LIFE MATRIX EQUITRADE PVT. LTD. S 149331 87.96
25/11/2009 533138 ASTEC LIFE MARWADI SHARES AND FINANCE LTD. S 213529 87.23
25/11/2009 533138 ASTEC LIFE OPG SECURITIES P LTD S 921611 87.15
25/11/2009 533138 ASTEC LIFE MANSUKH SECURITIES & FINANCE LTD S 110572 86.80
25/11/2009 533138 ASTEC LIFE HEMANSHU SHAH S 426509 85.41
25/11/2009 533138 ASTEC LIFE R.M.SHARES TRADING PVT.LTD S 139667 86.77
25/11/2009 533138 ASTEC LIFE SPS SHARE BROKERS PRIVATE LIMITED S 100000 86.72
25/11/2009 533138 ASTEC LIFE SUBH FINANCE & LEASING PVT LTD S 126403 85.96
25/11/2009 533138 ASTEC LIFE JHAVERI TRADING & INVESTMART PVT LTD S 132055 86.21
25/11/2009 533138 ASTEC LIFE RAKHI KALPESH BHANDARI S 210259 85.31
25/11/2009 533138 ASTEC LIFE NAVEEN TAPARIA S 211071 85.92
25/11/2009 507944 BAJAJ STEEL ASHOK KUMAR BILGAIYAN B 16722 181.41
25/11/2009 507944 BAJAJ STEEL DYNAMIC STOCK BROKING INDIA PVT LTD B 16069 191.92
25/11/2009 507944 BAJAJ STEEL ASHOK KUMAR BILGAIYAN S 16722 185.55
25/11/2009 531591 BAMPSL SEC KAUSHALYA GARG B 1200000 0.76
25/11/2009 532542 CREW BOS SHIVIKA COMMUNICATION PRIVATE LIMITED B 158328 44.60
25/11/2009 532542 CREW BOS SHIVIKA COMMUNICATION PRIVATE LIMITED S 151002 45.89
25/11/2009 532542 CREW BOS SBI MUTUAL FUND S 125000 44.73
25/11/2009 531439 GOLDSTONE TECH KISHORBHAI BALUBHAI CHAUHAN B 120000 24.75
25/11/2009 531439 GOLDSTONE TECH BHAVESH PRAKASH PABARI S 120000 24.75
25/11/2009 511543 GSB FINANCE NEELAM RAMAKANT BIYANI B 50000 9.50
25/11/2009 511543 GSB FINANCE GSB SECURITIES PVT LTD S 50000 9.50
25/11/2009 524342 INDO BORAX ASHOK KUMAR B 50000 79.63
25/11/2009 524342 INDO BORAX AMIT KUMAR ARORA B 33163 79.17
25/11/2009 524342 INDO BORAX AMIT KUMAR ARORA S 33163 79.88
25/11/2009 524342 INDO BORAX SAINATH HERBAL CARE MARKETING P.LTD S 63000 79.08
25/11/2009 530255 KAY POWER KAUSHALYA GARG B 100000 8.95
25/11/2009 530255 KAY POWER BAMPSL SECURITIES LTD. B 176839 9.08
25/11/2009 530255 KAY POWER SATISH KUMAR GUPTA B 80000 9.09
25/11/2009 530255 KAY POWER KAUSHALYA GARG S 200000 9.13
25/11/2009 530255 KAY POWER BAMPSL SECURITIES LTD. S 165065 9.00
25/11/2009 530255 KAY POWER SATISH KUMAR GUPTA S 80000 8.91
25/11/2009 522249 MAYUR UNIQUOTER CHANCHAL DEVI LODHA B 27500 134.11
25/11/2009 523792 MAZDA DHEERAJ LOHIA B 24620 74.71
25/11/2009 513685 MULTIARC INDIA SURESH KANMAL JAJOO S 66670 4.85
25/11/2009 533010 OCTAV INVEST SETU SECURITIES PVT LTD B 18000 28.15
25/11/2009 533010 OCTAV INVEST J V STOCK BROKING PRIVATE LIMITED S 19839 25.43
25/11/2009 533010 OCTAV INVEST SETU SECURITIES PVT LTD S 18000 27.02
25/11/2009 531496 OMKAR OVERSEAS TUSHAR RAMNIKBHAI PATEL B 25000 45.30
25/11/2009 531496 OMKAR OVERSEAS PRADIPBHAI RAJNIKANTRAI THATHA B 26000 45.30
25/11/2009 531496 OMKAR OVERSEAS ARCHANADEVI SATYANARAIN AGARWAL S 33641 44.85
25/11/2009 524570 PODDAR PIGM PODDAR PIGMENTS LTD BUY BACKX B 70700 36.50
25/11/2009 532718 PRATIBHA INDS OPG SECURITIES P LTD B 88388 312.23
25/11/2009 532718 PRATIBHA INDS OPG SECURITIES P LTD S 88388 312.74
25/11/2009 502587 RAMA PULP HITESH SHASHIKANT JHAVERI B 47015 23.48
25/11/2009 502587 RAMA PULP HITESH SHASHIKANT JHAVERI S 38922 23.28
25/11/2009 590077 RANKLIN SOL SREE LAKSHMI MIKKILINENI S 36700 49.88
25/11/2009 531646 RFL INTL MITTAL SECURITIES FINANCE LTD B 68601 1.42
25/11/2009 531646 RFL INTL KAILASHBEN DIXITBHAI PATEL S 31205 1.40
25/11/2009 531099 RUBRA MED NIRUPA GUPTA S 70000 20.50
25/11/2009 512048 SPLASH MEDIA BHROSEMAND COMMODITIES PVT. LTD. B 28490 365.11
25/11/2009 512048 SPLASH MEDIA SUVUDHA SECURITIES PVT LTD S 38806 364.77
25/11/2009 530109 VANTAGE CORP RAKSHA CHATRABHUJ VADHAIYA S 20000 11.53
25/11/2009 530961 VIKAS GLOBALONE JAI GANESH CHIT FUND PVT LTD B 15430 22.98
25/11/2009 530961 VIKAS GLOBALONE EKTA AGGARWAL S 15430 22.98
25/11/2009 532867 VISHAL RETL TRANSGLOBAL SECURITIES LTD. B 190036 72.80
25/11/2009 532867 VISHAL RETL TRANSGLOBAL SECURITIES LTD. S 189036 73.22

NSE Bulk Deals to Watch - Nov 25 2009

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,CANON CAPITAL AND FINANCE LIMITED,BUY,85002,86.02,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,CPR CAPITAL SERVICES LTD.,BUY,139681,86.97,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,G RAMAKRISHNA,BUY,180000,86.26,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,330643,87.03,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,HARBUX SINGH SIDHU,BUY,131708,86.13,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,HEMANSHU RAMNIKLAL SHAH.,BUY,335039,85.70,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,INDRA KUMAR BAGRI,BUY,132058,86.61,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,BUY,362833,87.32,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,195580,87.47,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,MANSUKH SECURITIES & FINANCE LIMITED,BUY,254053,86.90,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,135654,87.28,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,MBL & COMPANY LTD.,BUY,121137,86.20,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,MERCURY FUND MANAGEMENT CO.LTD.,BUY,213934,86.23,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,118638,87.30,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,OM INVESTMENTS,BUY,145972,87.00,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,PANTHER FINVEST PVT. LTD.,BUY,116500,86.31,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,R APPALA RAJU,BUY,215000,86.03,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,R B K SHARE BROKING LIMITED,BUY,111291,87.01,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,R.M. SHARE TRADING PVT LTD,BUY,143081,86.78,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,349112,86.18,-
25-NOV-2009,AUSTRAL,Austral Coke & Projects L,ARIHANT SEC & INVESTMENT,BUY,1576837,9.03,-
25-NOV-2009,AUSTRAL,Austral Coke & Projects L,SANDEEP MITTAL,BUY,2467878,9.05,-
25-NOV-2009,CREWBOS,Crew B.O.S. Products Limi,ADELIA THERESA RODRIGUES,BUY,79050,46.79,-
25-NOV-2009,CREWBOS,Crew B.O.S. Products Limi,SHIVIKA COMMUNICATION PRIVATE LIMITED,BUY,117139,44.80,-
25-NOV-2009,DEN,Den Networks Ltd,VIP INTL CAP APP PORT,BUY,823394,168.61,-
25-NOV-2009,GLOBUSSPR,Globus Spirits Limited,RATNABALI CAPITAL MARKETS LTD.,BUY,115195,90.32,-
25-NOV-2009,GLOBUSSPR,Globus Spirits Limited,SATYEN KANORIA,BUY,156699,89.91,-
25-NOV-2009,HILTON,Hilton Metal Forging Limi,DYNAMIC STOCK BROKING (I) PRIVATE LIMITED,BUY,95035,20.52,-
25-NOV-2009,HILTON,Hilton Metal Forging Limi,RAHUL DOSHI,BUY,66378,20.63,-
25-NOV-2009,JINDALPOLY,Jindal Poly Films Limited,JINDAL POLYFILMS LIMITED,BUY,361523,318.30,-
25-NOV-2009,KSERAPRO,K Sera Sera Productions L,OUDH FINANCE & INVESTMENT PVT LTD,BUY,608394,13.67,-
25-NOV-2009,PRATIBHA,Pratibha Industries Limit,CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED,BUY,130000,308.14,-
25-NOV-2009,PRATIBHA,Pratibha Industries Limit,MORGAN STANLEY INDIA COMPANY PRIVATE LTD,BUY,132802,307.96,-
25-NOV-2009,PRATIBHA,Pratibha Industries Limit,SURESH KANMAL JAJOO,BUY,118015,307.99,-
25-NOV-2009,TRICOM,Tricom India Limited,DB (INTERNATIONAL) STOCK BROKERS LTD.,BUY,403390,18.76,-
25-NOV-2009,VISHALRET,Vishal Retail Limited,TRANSGLOBAL SECURITIES LTD.,BUY,192923,73.67,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,BAJCO CONSULTANTS PVT.LTD.,SELL,150000,86.69,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,CANON CAPITAL AND FINANCE LIMITED,SELL,85002,86.15,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,CPR CAPITAL SERVICES LTD.,SELL,139681,86.99,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,G RAMAKRISHNA,SELL,180000,86.52,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,330643,87.11,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,HARBUX SINGH SIDHU,SELL,131708,86.27,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,HEMANSHU RAMNIKLAL SHAH.,SELL,335039,86.32,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,IDBI BANK LTD,SELL,175000,86.19,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,INDRA KUMAR BAGRI,SELL,132058,86.54,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,SELL,362833,87.45,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,MANIPUT INVESTMENTS PVT. LTD.,SELL,195580,87.60,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,MANSUKH SECURITIES & FINANCE LIMITED,SELL,254053,86.58,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,135654,87.76,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,MBL & COMPANY LTD.,SELL,121137,86.38,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,MERCURY FUND MANAGEMENT CO.LTD.,SELL,213934,86.17,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,118638,87.23,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,OM INVESTMENTS,SELL,145972,87.05,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,PANTHER FINVEST PVT. LTD.,SELL,116000,86.39,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,R APPALA RAJU,SELL,215000,86.59,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,R B K SHARE BROKING LIMITED,SELL,111291,86.45,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,R.M. SHARE TRADING PVT LTD,SELL,143081,87.12,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,RAKAM INFRASTRUCTURES PRIVATE LIMITED,SELL,154323,84.00,-
25-NOV-2009,ASTEC,Astec LifeSciences Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,349112,86.38,-
25-NOV-2009,AUSTRAL,Austral Coke & Projects L,ARIHANT SEC & INVESTMENT,SELL,1582598,8.99,-
25-NOV-2009,AUSTRAL,Austral Coke & Projects L,SANDEEP MITTAL,SELL,2461498,8.99,-
25-NOV-2009,CREWBOS,Crew B.O.S. Products Limi,ADELIA THERESA RODRIGUES,SELL,24000,47.25,-
25-NOV-2009,CREWBOS,Crew B.O.S. Products Limi,SBI MUTUAL FUND A/C W/H,SELL,172998,45.12,-
25-NOV-2009,CREWBOS,Crew B.O.S. Products Limi,SHIVIKA COMMUNICATION PRIVATE LIMITED,SELL,117139,45.46,-
25-NOV-2009,GLOBUSSPR,Globus Spirits Limited,RATNABALI CAPITAL MARKETS LTD.,SELL,117301,90.13,-
25-NOV-2009,GLOBUSSPR,Globus Spirits Limited,SATYEN KANORIA,SELL,156699,89.65,-
25-NOV-2009,HILTON,Hilton Metal Forging Limi,DYNAMIC STOCK BROKING (I) PRIVATE LIMITED,SELL,87530,20.63,-
25-NOV-2009,HILTON,Hilton Metal Forging Limi,RAHUL DOSHI,SELL,65002,20.63,-
25-NOV-2009,JINDALPOLY,Jindal Poly Films Limited,SAIF II MAURITIUS COMPANY LTD,SELL,400000,318.30,-
25-NOV-2009,KSERAPRO,K Sera Sera Productions L,OUDH FINANCE & INVESTMENT PVT LTD,SELL,338594,13.39,-
25-NOV-2009,OISL,OCL Iron and Steel Limite,CREATIVE ENTERPRISES,SELL,885000,20.27,-
25-NOV-2009,PRATIBHA,Pratibha Industries Limit,MERRILL LYNCH CAPITAL MARKETS ESPANA S.A. SVB,SELL,147948,308.22,-
25-NOV-2009,PRATIBHA,Pratibha Industries Limit,MORGAN STANLEY INDIA COMPANY PRIVATE LTD,SELL,132802,308.00,-
25-NOV-2009,PRATIBHA,Pratibha Industries Limit,SURESH KANMAL JAJOO,SELL,128888,310.87,-
25-NOV-2009,TRICOM,Tricom India Limited,DB (INTERNATIONAL) STOCK BROKERS LTD.,SELL,403390,18.96,-
25-NOV-2009,VISHALRET,Vishal Retail Limited,TRANSGLOBAL SECURITIES LTD.,SELL,192923,73.41,-

Sensex up nearly 12% from recent low

The key benchmark indices pared gains after hitting their highest level in more than a month on concerns a glut in share sales may soak available liquidity in the secondary market. The BSE 30-share Sensex rose 67.87 points or 0.4%, off close to 95 points from the day's high and up close to 70 points from the day's low. The Sensex and the 50-unit S&P CNX Nifty today, 25 November 2009, struck their highest closing levels in more than a month.

Index heavyweight Reliance Industries rose today after the firm reopened retail fuel outlets. Banking and FMCG stocks gained. But realty stocks fell. The market breadth turned weak, easing from a strong breadth in early trade.

The market recovered after falling into the red for a brief period in early trade. The market extended gains later. The market pared gains after hitting a one-month high in afternoon trade. Market pared gains from the day's high in mid-afternoon trade. The market may remain on Thursday, 26 November 2009, as traders roll over positions in the derivative segment from November 2009 series to December 2009 series ahead of the expiry of the near-month November 2009 contracts on Thursday.

Rollover in Nifty futures was about 54% at the end of Tuesday's (24 November 2009) trading. Rollover in Min Nifty futures was about 33%. The market wide rollover was about 48%. In individual stocks, Hindustan Unilever, Maruti Suzuki, Power Grid Corporation, Reliance Power and Bharat Heavy Electricals (Bhel), have witnessed high rollover

Concerns that a glut in share sales may suck liquidity from the secondary market pulled the market off the higher level. Morgan Stanley expects Indian firms to raise roughly $70 billion through share sales over the next three years, Morgan Stanley's India country head Narayan Ramachandran said at an investment summit on Wednesday, 25 November 2009. Stake sales in state-run firms will account for $10-$15 billion of that, Ramachandran said. The upcoming auction of third-generation mobile spectrum will also spur potentially billions of dollars in equity raising, although not necessarily from the public markets, he said.

Indian companies have raised about $18 billion in equity thus far this year to repay high-cost debt or to fund expansion plans. Last year, Indian firms raised $7.2 billion in equity.

Meanwhile, the finance ministry on Tuesday constituted a working group to suggest ways of rationalising existing regulations relating to foreign portfolio investments, in order to encourage foreign investment into the country. The group will review the legal and regulatory framework to simplify rules related to overseas investment in the form of foreign institutional investment (FII), foreign venture capital investment (FVCI), private equity and NRI investment, according to notification issued by the finance ministry

The panel will further study arrangements relating to use of participatory notes (PN) and suggest any changes required to increase transparency. The review of the way PNs are being used is to ensure appropriate know-your-client (KYC) norms are in place. This, however, is unlikely to lead to any fresh restrictions on PNs, reports suggest.

The committee, which will submit its report within four months, will identify challenges in meeting the financing needs of the lndian economy through the foreign investment. It will suggest specific short, medium and long term legal, regulatory and other policy changes.

The group will further revisit the role of transaction taxes. Capital market transactions are subject to Securities Transaction Tax (STT) and also a 15% short-term capital gains tax. There is debate in the policy establishment as to whether the STT should be continued and whether ordinary income and capital gains need to be taxed at different rates.

The government can absorb nearly $100 billion of dollars in capital inflows, nearly double what is expected this year, before it needs to take strong restrictive measures, C. Rangarajan, chairman of the Prime Minister's Economic Advisory Council said on Tuesday.

Brazil and Taiwan have taken steps to curb hot money inflows, and other governments are keeping a watchful eye on inflows, wary that they could fuel asset price bubbles. The IMF's chief economist on Monday warned of bubbles in emerging markets on uncontrolable capital movements, which was echoed by the Asian Development Bank on Tuesday.

Trade minister Anand Sharma said on Wednesday that the government has no plan to further liberalise foreign investment in retail sector. India, currently, does not permit foreign direct investment (FDI) in multiple-brand retailers, restricting global firms like Wal-Mart Stores and Carrefour from selling directly to customers in the country. Foreign holding in single-branded retailers is capped at 51 %.

US President Barack Obama sought to reassure Prime Minister Manmohan Singh on Tuesday of his commitment to boosting US ties with India even as his administration has set India's rivals, China and Pakistan, as key priorities. Obama and Singh told a joint news conference they were committed to completing a 2005 civil nuclear agreement that would open up India's potential $150 billion market in power plants.

The United States and India will establish a new economic partnership which US Treasury Secretary Timothy Geithner will help formally launch in India early next year, the White House said on Tuesday. The new partnership aims to strengthen economic ties between the two nations and echoes the strategic economic dialogue Washington established with China in 2006.

European shares rose on Wednesday after losses in the previous session, as a revised US growth forecast for 2010 by the Federal Reserve boosted stocks, with miners featuring among the top gainers. The key benchmark indices in France, Germany and UK rose by between 0.52% to 0.66%.

The European Central Bank (ECB) has been able to prevent deflation in Europe due to its 'solid anchoring' of expectations on price stability, ECB President Jean-Claude Trichet said on Wednesday. Trichet also said that economic improvement has not been rapid, when considering unemployment data.

The UK economy contracted slightly less than initially estimated in the third quarter, official figures showed Wednesday. Gross domestic product in the third quarter contracted 0.3% from the second quarter and was 5.1% weaker than in the third quarter of last year, the Office for National Statistics said.

Asian markets rose on Wednesday on expectations for stronger economic growth. The key benchmark indices in Hong Kong, China, Japan, Singapore, South Korea and Taiwan rose by between 0.34% to 2.07%. But, Indonesia's Jakarta Composite fell 0.42%.

Japan's exports fell at the slowest pace in a year in October 2009. Shipments abroad slid 23.2% from a year earlier in October, compared with a 30.6% decline in September, the Finance Ministry said today in Tokyo.

Bank of Japan Deputy Governor Hirohide Yamaguchi said on Wednesday that the world economy is recovering after a sharp downturn but has yet to fully emerge from the aftermath of the global financial crisis.

Trading in US index futures indicated Dow could gain 43 points at the opening bell on Wednesday, 25 November 2009.

US markets declined but ended off their lows on Tuesday after the Federal Reserve raised its forecast for 2010. Fed minutes indicated that Federal Reserve officials are confident the US economic recovery will be durable, but do not see employment or inflation picking up soon. The Dow was down 17.24 points, or 0.2%, to 10,433.71. The S&P 500 index slipped 0.59 points, or 0.1%, to 1,105.65, while the Nasdaq composite index fell 6.83 points, or 0.3%, to 2,169.18. Earlier, the Dow was down nearly 100 points after a report showed the economy grew less than expected in the third quarter and HP issued a cautious outlook.

In US economic news, Q3 GDP was revised to a 2.8% growth rate, lower than the initial reading of 3.5%. In other data, the conference board's gauge of consumer confidence rose to 49.5 in November 2009 from 48.7 in October 2009. And home prices improved for a fifth straight month in September 2009.

The Fed projected the economy will shrink 0.1% to 0.4% this year and grow by 2.5% to 3.3% in 2010. That compares to June's prediction of a contraction of 1% to 1.5% in 2009 and a gain of 2.1% to 3.3% next year.

Swift interest rate hikes aimed at containing inflation in product and asset prices could cause another downturn in the slowly recovering economies of the United States and Europe, the head of the World Bank Robert Zoellick said.

The BSE 30-share Sensex rose 67.87 points or 0.4% to 17198.95, its highest closing since 20 October 2009. The Sensex rose 159.40 points at the day's high of 17290.48, in afternoon trade. The Sensex fell 6.93 points at the day's low of 17,124.15 in early trade.

The S&P CNX Nifty rose 17.60 points or 0.35% to 5,108.15, its highest closing since 20 October 2009 . Nifty November 2009 futures were at 5,112.20, at a premium of 4.05 points as compared to spot closing of 5,108.15. Turnover in NSE's futures & options (F&O) segment rose to Rs 91,235.90 crore from Rs 91,101.55 crore on Tuesday, 24 November 2009. It hit a high of 5,138.

BSE clocked a turnover of Rs 4742 crore, lower than Rs 4780.35 crore on Tuesday, 24 November 2009.

The market breadth, indicating the overall health of the market turned negative compared to strong breadth in early trade. On BSE, 1290 shares advanced as compared with 1486 that declined. A total of 74 shares remained unchanged.

From the 30 share Sensex pack, 17 rose and rest fell.

A deluge of global liquidity has boosted stocks across the globe this year. Governments and central banks around the world have injected trillions of dollars in the past one year to pull the world out of a most severe recession since the 1930s Great Depression. The Sensex is up 7551.64 points or 78.27% in calendar year 2009, as on 25 November 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex is up 9038.55 points or 110.76% as on 25 November 2009. From the recent low of 15404.94 on 3 November 2009, the Sensex had jumped 1,794.01 points or 11.64% at current 17,198.95.

Coming back to today's trade, the BSE Mid-Cap index fell 0.12% and the BSE Small-cap index fell 0.16%. Both the indices underperformed the Sensex.

The BSE FMCG index (up 1.44%),the BSE Oil & Gas index (up 1.09%), the BSE PSU index (up 0.7%), the BSE Bankex (up 0.51%), the BSE Capital Goods index (up 0.5%) outperformed the Sensex.

The BSE Realty index (down 2.93%), the BSE Healthcare index (down 0.49%), the BSE Consumer Durables index (down 0.12%), the BSE Teck index (down 0.03%), the BSE Metal index (up 0.03%), the BSE Power index (up 0.07%), the BSE Auto index (up 0.37%), the BSE IT index (up 0.16%) underperformed the Sensex.

Energy major Reliance Industries (RIL) rose 0.81% to Rs 2193.75. But the stock came off the day's high of Rs 2225.90. RIL has reportedly reopened 900 gas stations, which were shut down when state-run oil marketing firms were selling heavily subsidised fuel. RIL has revived more than half its network of petrol pumps that were shut.

As per recent reports, the Securities and Exchange Board of India (Sebi) has asked Reliance Industries (RIL) why the company should not be barred from accessing the stock markets under rules governing fraudulent and unfair trade practices. The amendment (dated 8 October 2009) to the original show cause notice issued in April 2009 by the regulator's investigation department further asks why directions should not be issued to bar the company from buying, selling and dealing in any security, directly or indirectly. The notice was issued in the matter relating to alleged insider trading in the shares of the now-defunct Reliance Petroleum, which had since merged with RIL.

RIL on Sunday, 22 November 2009, said it has put a bid to acquire bankrupt chemicals maker LyondellBasell Industries. RIL said that it had submitted a preliminary non-binding offer to acquire, for cash, a controlling interest in Rotterdam, Netherlands-based LyondellBasell.

RIL also said it is "reviewing a number of global opportunities for growth in its core business," including LyondellBasell. The conglomerate said its offer is "preliminary and subject to customary conditions, including conduct of due diligence, documentation and receipt of creditor support."

Meanwhile, RIL plans an aggressive exploration campaign, investments in petrochemicals and overseas acquisitions as India's top company by market capitalisation prepares itself for the next phase of growth. The company will work towards attaining global scale for its conventional energy platform petrochemicals, refining and oil and gas exploration and invest in its new businesses such as retailing and alternative energy, chairman Mukesh Ambani said at the company's annual meeting of shareholders on 17 November 2009.

RIL has set 27 November 2009 as the record date for a liberal 1:1 bonus share issue.

Shares of public sector oil marketing companies jumped as lower crude oil prices will reduce under-recoveries on domestic sale of petrol, diesel, kerosene and LPG at controlled prices. Indian Oil Corporation BPCL and HPCL rose by between 2.59% to 6.88%. Crude-oil futures ended at a one-month low on Tuesday as the potential for rising oil supplies sparked a retreat from recent highs. Light, sweet crude for January 2010 delivery settled $1.54, or 2%, lower at $76.02 a barrel on the New York Mercantile Exchange.

Oil Secretary R.S. Pandey said on 19 November 2009 the government has no immediate plan to raise fuel prices. Pandey said there is no proposal yet on raising fuel prices, adding that state-run oil marketing companies were likely to suffer a revenue loss of Rs 44,000 crore in the current financial year by selling fuel at government-set rates. Pandey said inter-ministerial consultations about raising the prices of gas sold under the administrative price mechanism were underway

Rate sensitive realty shares reversed early gains as the RBI, late last month, raised the provisioning requirements for loans to commercial real estate from 0.4% to 1% at a regular monetary policy review. Indiabulls Real Estate, DLF, Omaxe, Sobha Developers, fell by between 0.82% to 5%.

Unitech fell 2% on equity dilution worries following reports the company has sought approval from the Department of Industrial Policy and Planning and the Reserve Bank of India to raise $700 million through foreign currency convertible bonds.

The latest RBI move will result in increase in borrowing costs for realty firms which depend heavily on borrowing. In view of large increase in credit to the commercial real estate sector over the last one year and the extent of restructured advances in this sector, it would be prudent to build cushion against likely non-performing assets (NPAs), the central bank said in its quarterly policy review.

Meanwhile, the government reportedly is considering a proposal to do away with the three-year lock-in stipulation for repatriation of foreign investments in real estate projects, in a move to ease foreign direct investment norms in the real estate sector.

Bank shares rose on hopes for financial sector reforms. India's largest bank by net profit State Bank of India (SBI) rose 0.79%. State Bank of India said on 9 November 2009 said it had entered into an agreement with T. Rowe Price to sell a 6.5% holding each in UTI Asset Management Company and UTI Trustee Company. State Bank currently holds 25% in each of the companies and after the sale its holding would be reduced to 18.5%, it said in a statement.

SBI announced on 6 November 2009 it has revised downwards interest rates on deposits by 25-50 basis points for a few maturities effective from 9 November 2009.

India's second largest private sector bank by net profit HDFC Bank rose 1.46% even as its ADR fell 1.04% on Tuesday.

But, India's largest private sector bank by net profit ICICI Bank fell 0.68% as its ADR fell 2.67% on Tuesday. The bank said on Saturday 20 November 2009 it raised $750 million (about Rs 3,500 crore) through an overseas bond issue, at an yield of 5.5%.

India's largest dedicated home loan lender Housing Development Finance Corporation (HDFC) fell 0.19%. The lender announced on 13 November 2009 it has agreed to acquire approximately 41% in the fully diluted equity share capital of Credila Financial Services from DSP Merrill Lynch Capital.

Prime Minister Manmohan Singh said on 8 November 2009, financial reforms, such as building up a domestic bond market and expanding foreign investment in sectors like insurance, would be pushed forward.

Banks need to buffer their capital base and upgrade risk management systems, the Reserve Bank of India (RBI) governor D Subbarao said on Wednesday. Deputy Governor Usha Thorat said on Monday 16 November 2009 the central bank will soon issue guidelines on provisioning for bad loans by banks

Banks and co-operatives have reportedly disbursed farm loans to the tune of Rs 1.38 lakh crore in the first half of 2009-10, meeting over 42% of the target set by the government for the whole financial year.

A deputy governor of the Reserve Bank of India A C Chakraborty said on Wednesday that the time has not come yet for consolidation of banks.

FMCG stocks rose on bargain hunting. ITC, Hindustan Unilever, Marico, and Nestle India rose by between 0.08% to 1.93%.

Metal stocks gained on strong domestic demand. Hindustan Zinc and Sterlite Industries rose by between 0.35% to 0.97%.

India's largest aluminum maker by sales Hindalco Industries rose 0.1% after the company on Tuesday raised about Rs 2900 crore through private placement of shares to qualified buyers to part-finance its expansion projects.

But, Steel Authority of India (Sail) fell 0.1%. The government said on 19 November 2009 it is considering a 20% stake sale in steel major Sail, proceeds of which would partly fund the company's Rs 70000 crore expansion projects.

India's largest steel maker by sales Tata Steel rose 0.86%. The company recently said it issued $ 546.9 million in new convertible bonds in exchange for $ 493 million of securities as part of a plan to reduce costs and ease repayment obligations. The company had said earlier this month the new foreign currency convertible bonds will have a yield-to-maturity of 4.5% and will mature in November 2014.

Demand for steel remains strong from auto, rural construction and infrastructure sectors. Also demand for construction grade steel has improved post monsoon season, and has resulted into higher sales.

Rate sensitive auto stocks were mixed. Low interest rates and attractive benefits offered by companies pushed up auto sales in October 2009.

India's largest small car marker by sales Maruti Suzuki India rose 1.34% on reports the company will spend Rs 2000 crore to expand production capacity at its Manesar factory in Haryana. The company's total sales grew 32.4% to 85415 units in October 2009, compared with 64490 units posted in the same month a year ago.

India's largest bike marker by sales Hero Honda Motors rose 2.24%. The company reported a marginal increase in October sales at 354,156 units as against 352,449 units in the same month last year.

India's second largest bike marker by sales Bajaj Auto rose 2.2%. Carlos Ghosn, chief executive of French car maker Renault and Japan's Nissan Motor Co, said, recently that an agreement had been signed with Bajaj Auto for a low-cost car which would come to India in 2012.

But, India's largest tractor maker by sales Mahindra & Mahindra fell 0.73%. The defence systems unit of India's top vehicle maker M&M will bid for domestic defence projects worth $ 3.5 billion over the next seven years, Khutub A. Hai, head of Mahindra Defence Systems said on Monday. M&M's overall sales climbed 32% in October this year to 18,410 units against 13,935 units in the same month last year.

India's largest commercial vehicle maker by sales Tata Motors fell 0.9%. Tata Motors is reportedly looking at buying private equity firm Actis' stake in truck and bus maker Swaraj Mazda. UK-based Actis, which owns 7.74% in Swaraj and another 9.28% through its unit CDC, is considering exit options, report said.

Jaguar Land Rover received as much as 170 million pounds ($286 million) as a five-year working capital facility from General Electric Co.'s GE Capital division, the lender said on 16 November 2009. Tata Motors the owner of Jaguar Land Rover, is hopeful of turning around the unprofitable luxury unit as it cuts costs to battle a slump in sales during the global recession.

Car sales in India rose an annual 34% to 132,615 units in October 2009, boosted by festival demand and easier availability of loans, an industry body said on Wednesday 11 November 2009. Sales of trucks and buses, a gauge of economic activity, rose 52% to 42,562 units in October 2009, the data showed.

Power equipment maker Bharat Heavy Electricals rose 0.96% after company said on Tuesday it had got an order worth Rs 5600 crore ($1.2 billion) to build a 1,980 megawatts thermal power plant in north India.

India's largest engineering and construction firm by sales Larsen & Toubro rose 0.13%. The company on 17 November 2009 said Gilbarco Inc. has bought its petroleum dispensing pump business. ABB, Praj Industries, Siemens, BEML rose by between 0.07% to 2.57%.

Telecom stocks fell as the price war intensified after Tata Teleservices extended its per-second billing scheme to roaming calls recently. The ongoing price war has hit profitability of mobile operators.

India's largest mobile telecom services provider by sales Bharti Airtel fell 0.32%. The company reduced roaming rates by up to 60% on 20 November 2009. Bharti Airtel has slipped to third position in terms of monthly additions, data from an industry body showed. Bharti Airtel in October 2009 added about 27 lakh new users, lower than 29 lakh added by Vodafone Essar and over 38 lakh added by Tata Teleservices.

Bharti expects the current state of stiff competition to continue into 2010, as the government worked on new rules that may allow faster consolidation.

Among other telecom stocks, Reliance Communications, Idea Cellular and Spice Communications fell by between 0.71% to 3.31%.

UltraTech Cement, a unit of conglomerate Aditya Birla Group rose 1.16%. The company absorbed sister unit Samruddhi Cement, to form the country's biggest cement firm. The move, flagged in October 2009, was approved by the boards of both companies on Sunday. In October, the group said it will hive off the cement business of flagship firm Grasim Industries into unit Samruddhi in a cashless transaction and later merge it with group firm UltraTech. Samruddhi shareholders will receive four shares of UltraTech for every seven held in Samruddhi. UltraTech will also issue 14.95 crore new shares, boosting its capital to Rs 274 crore.

Among other cement stocks, ACC, Birla Corporation and Ambuja Cements rose by between 1.29% to 3%.

India's largest thermal power generator by sales National Thermal Power Corporation (NTPC) fell 0.62%. The government has invited proposals from merchant bankers to manage the government's proposed 5% stake sale in leading utility NTPC, which could fetch about $1.9 billion at current market prices.

The proposals must be made by 3 December 2009, the government said in newspaper advertisement. The invitation is also for a 10% stake sale in unlisted state power producer Satluj Jal Vidyut Nigam.

Among other power stocks, Reliance Power, Tata Power Company, CESC, Reliance Infrstructure fell by between 0.02% to 0.76%.

Wipro, India's third-largest software services exporter by sales rose was flat. Suresh Vaswani, joint CEO of the company's IT business said today the company will be able to sustain its operating margins in the near term as the business environment improves.

Infosys Technologies India's No. 2 software exporter by sales rose 0.33% after Chief Financial Officer V. Balakrishnan said today that the company is focused on small acquisitions to boost growth and does not expect pricing to improve in the near term. Pricing will likely remain stable until demand increases, he said.

Sugar shares rose on reports sugar mills in Uttar Pradesh have offered higher prices to growers, raising hopes that protesting farmers would start selling cane. Bajaj Hindustan, Balrampur Chini Mills, Shree Renuka Sugars rose by between 1.2% to 4.53%. Stormy protests by farmers had disrupted parliament last week and delayed cane crushing in the the state, which can further squeeze supplies in the world's biggest consumer of the sweetener.

Cals Refineries clocked the highest volume of 4.55 crore shares on BSE. Mahindra Satyam (3.36 crore shares), Astec Lifescience (1.22 crore shares), Suzlon Energy (0.88 crore shares) and Unitech (0.8 crore shares) were the other volume toppers in that order.

Mahindra Satyam clocked highest turnover of Rs 304.50 crore on BSE. Reliance Industries (Rs 290.23 crore), Housing Development & Infrastructure (Rs 126.24 crore), JSW Steel (Rs 110.70 crore) and State Bank of India (Rs 106.61 crore) were the other turnover toppers in that order.

Sensex to remain range-bound

Headlines for the day

Tatas may launch electric Indica by early 2011 - Business Line

Reliance Industries reopens petrol outlets - Business Line

HCL Infosystems, Cisco in security products pact - DNA Money

Bayer signs pact with GVK Bio - Business Standard

Bhushan Steel may sell stake to Sumitomo - Business Standard

Events for the day

Major corporate action:

*

Listing of Astec Lifesciences Ltd (Bse code: 533138, NSE code: ASTEC) that came with an issue price of Rs82.

*

Ex-date for the Dividend of Pantaloon Retail (India) Ltd. And Gujarat State Petronet

Pre-market report

Global signals

*

The European shares closes in the red with loss of over 0.5% each as the data indicated that the US economy grew at a slower rate than expected, banking stocks slides. FTSE 100 closed 0.59% lower at 5324.

*

Due to the revisited government data on the GDP for Q3 that showed slower than expected growth of the US economy, stocks slides marginally. However as the Fed raised its expectation for growth in 2010, losses eased. Dow falls by 0.2% ends at 10434.

*

Once again, the major Asian indices are trading mixed, volatile and ina range bound territory. The indices like Taiwan Weighted Stait Times, Nikkei 225 and Jakarta Composite are trading in green with marginal gains. While the remaining major indices are trading in the negative zone with marginal losses. At the time of writing this report, SGX Nifty was trading marginally higher with gains of mere 7 points.

Indian markets

*

Considering such mixed cues from the global front, domestic markets may remain range bound and highly volatile in the days trade.

*

Among the local indices, the Nifty could test the 5150-5182 range on the up side, while on the down side it could find support at 5050 and 5000. While the Sensex is likely to get support at 16900 and may face resistance at 17300.

Indian ADR's

*

Among the Indian ADRs trading on the US bourses, only Tata Motors and VSNL closed in the green with gains of 0.36% and 2.27% respectively. While the rest closed in the red with loss in the range of 0.10%-2.67%.

Commodity cues

*

In the commodity space, the Crude oil prices corrects, with the Nymex light crude oil for January 2010 series falling by $1.11 to settle at $76.45 a barrel.

*

In the metals space, the yellow metal rises marginally, with the Comex Gold for December series surging by $1.90 to settle at $1166.60 a troy ounce, while Comex Silver for December series declined marginally by $0.16 to settle at $18.49 to a troy ounce.

Daily trend of FII/MF investment in equities

*

On November 24, 2009, FIIs were the net sellers of the Indian Stocks in the tune of Rs68.00 crore (with the gross purchase of Rs1951.30 crore and gross sales of Rs2019.30 crore).

*

While the Domestic mutual funds mutual funds, on November 23, 2009, were the net buyer of the stocks in the tune of Rs219.20 crore (with gross purchase of Rs676.20 crore and gross sales of Rs457.00 crore

Grey Market Premiums - Cox and Kings, MBL Infrastructure

Company Name	Offer Price (Rs.)	Premium (Rs.)
Cox & Kings India	316 to 330	6 to 8
DEN Network Ltd.	195	Discount
Astec Life Science	82	3 to 5
MBL Infra	165 to 180	5 to 7
JSW Energy Ltd.	--	--

Daily News Roundup - Nov 25 2009

RIL plans to fund its acquisition of LyondellBasell Industries by selling treasury stock and dipping into its cash reserves without taking any additional debt on its balance sheet. (ET)

Crisil has maintained a stable outlook on Reliance Industries, after it announced its preliminary non-binding bid for the acquisition of LyondellBasell Industries, thereby reaffirming its ratings on the debt instruments and bank facilities. (BS)

Reliance Industries has re-opened 900 of its 1,432 auto fuel retail outlets. (BL)

Infosys plans to stay away from top auto customers in its engineering services business and shift its focus from commoditised and price sensitive projects. (ET)

Bharti Airtel, launched pay-per-second plan for its US customers using calling cards to make calls to India. (ET)

Tata Motors will start feasibility study next year on launching an electric version Indica in both the domestic as well as the European market simultaneously in early 2011. (BS)

IOC will set up Rs100bn nuclear power plant in association with Nuclear Power Corporation of India. (ET)

BHEL bagged Rs56bn contract from an arm of Jaiprakash Associates for setting up a thermal power plant in Uttar Pradesh. (BL)

SBI expects to receive clearance from the government and the RBI for its proposed Doha branch by the first week of December. (ET)

Hindalco has raised US$600mn by selling shares to institutional investors. (ET)

Unitech has sought approval from DIPP and the RBI to raise funds through convertible instruments to the extent of US$700mn. (ET)

IBV Brasil Petroleo, which is jointly owned by Videocon Industries and BPCL’s exploration arm Bharat Petro Resources, has found more than 150 feet of high-quality oil in Brazil’s Campos basin. (ET)

The Chennai High Court recorded 17 issues likely to be heard on the TVS Motor-Bajaj Auto dispute on the use of twin spark plug technology by TVS. (BS)

Essar Oil is likely to seal the deal with Royal Dutch Shell to buy its three refineries - two in Gemany and one in the UK - in over a month’s time. (BS)

Essar Oil and Aegis Logistics have joined hands to sell each other’s products in their outlets. (BL)

Essar Oil to foray into ATF marketing. (FE)

About 1,000 Substantial Affected Persons (SAP) in the mining and refinery complex of NALCO at Damanjodi in Koraput district have demanded rehabilitation benefits at par with the SAPs of the company in its Angul smelter and power complex. (BS)

NALCO and Hindustan Copper are jointly scouting for acquisition of copper reserves in Namibia. (ET)

Sun TV Networks increased advertising rates by 9-33% for its flagship channel Sun TV. (BL)

JSW Steel, may sell as much as 40% in its upcoming 10mn ton steel unit in West Bengal to its overseas partner. (ET)

Bhushan Steel may look at doing a JSW-JFE like deal with Japan’s Sumitomo Metals Industries. (BS)

Bharati Shipyard’s open offer to acquire 20% stake in Great Offshore is being revised as per Section 10 of the Takeover Code as advised by SEBI. (BS)

Bank of India will cut interest rate on deposits of some maturities by 25bps with effect from November 27. (BL)

Punjab National Bank plans to expand its network in Maharashtra and has sought RBI permission to add 11 branches to the existing 156 in the state. (BL)

Karnataka government will be holding high-level talks with a team from ArcelorMittal on October 27, to take forward the latter’s proposal to set up a multi-billion dollar steel plant in the state. (ET)

Ackruti City plans to set up Rs3bn textile-park on 60 acres in Bhiwandi, a textile hub near Mumbai. (BL)

HCL Security, the security arm of HCL Infosystems, has signed an agreement with technology firm Cisco for delivering IP-based safety and security solutions in India and other countries. (ET)

According to the supplementary chargesheet filed by CBI, Satyam’s founder-chairman Ramalinga Raju and his aides forged board resolutions and unauthorisedly got loans/advances of Rs12bn in the name of Satyam Computers from banks but did not reflect this in the books. (BS)

CBI in its supplementary chargesheet filed on Satyam Computer has claimed an additional fraud of Rs47bn thereby taking the overall fraud to Rs118bn from the initially estimated Rs71bn. (BL)

Shalimar Paints Ltd plans to set up a new paint manufacturing facility at Gumudipoondi, near Chennai, at an investment of Rs550mn. (BS)

Sanghvi Movers plans to invest Rs3.5bn to acquire more cranes for the power sector in the coming fiscal. (BL)

IL&FS open offer for acquiring an additional 20% stake in the Maytas Infra opens today and close on December 14. (BL)

Golden Tobacco said its board will meet on December 1 for considering a proposal from Pramod Jain to buy another 25% stake in the Sanjay Dalmia-promoted company. (ET)

L&T Infotech, the IT arm of L&T, plans to sharpen its focus on its consultancy business by setting up a separate consultancy business unit by March. (BS)

Gujarat Fluorochemicals plans to invest Rs5bn for doubling its existing capacities at its Dahej chemical complex in Bharuch district to meet increased product demand from the domestic and international markets and for captive consumption. (BL)

Bayer CropScience AG, a subsidiary of Bayer AG, and GVK Biosciences Pvt Ltd, Hyderabad, have entered into a research cooperation agreement in the area of early discovery chemistry. (BS)

XL Telecom and Energy said that it is exploring opportunities in the US and Canada. (BL)

Sistema-Shyam Teleservices (SSTL), a JV between the Russian firm Sistema and the Shyam Group, said it will start the process of listing its Indian operations on the local bourses by next year. (ET)

The Pune-Solapur Expressways, an SPV formed by Navinya Buildcon, a 100% subsidiary of Tata Realty and Infrastructure and Atlantia, has achieved financial closure by raising Rs10bn debt from financial institutions. (ET)

Air India has rescheduled the delivery of three Boeing 777-300 Extended Range aircraft beyond 2010 and 27 Boeing 787 aircraft beyond the contracted delivery period commencing April 2011. (BL)

German car maker Volkswagen plans to launch the Beetle in India on December 4. (BS)

Reva Electric Car Company plans to set up manufacturing facilities in Europe and US within the next 12 months. (BL)

Members of CII have signed eight MoUs with American companies across diverse sectors including pharmaceuticals and drug development, telecom, IT and homeland security among others. (BS)

The textile industry is expected to have tie-ups with foreign companies in apparel sourcing, fabric manufacturing and textile machinery manufacturing over the next 4-5 months. (BS)

Inorder to promote traffic of automobiles through railways, the Railways Ministry is considering setting up of 15 automobile hubs on public-private partnership basis across the country. (BS)

The Himachal Pradesh government has given approval for setting up of Rs2bn bio-technology park at Aduwal in the Baddi industrial belt. (BS)

The Uttar Pradesh government has proposed to adopt Public-Private Partnership model for procurement and marketing of agricultural produce. (BS)

The Empowered Committee on Mega Projects approved 7 new mega projects in Punjab for an investment outlay of Rs12bn. (BS)

The Orissa government has sought Rs50bn grant from the Thirteenth Finance Commission to upgrade its power infrastructure. (BS)

The Orissa government does not intend to charge higher tariff to the electricity consumers even as it prepares a contingency plan to tide over the power crisis. (BS)

The Orissa government plans to set up a panel to address the rehabilitation and resettlement issues in the state. (BS)

According to the latest figures released by the RBI, Indian companies raised US$2.6bn through overseas borrowing in October. (BL)

Hotels in Kerala have managed to maintain the April-September occupancy levels at par with year-ago levels but have seen average room rates decline. (BL)

The Minister for Civil Aviation told the Rajya Sabha that the government has given ‘in-principle’ approval for setting up 12 greenfield airport projects for public use. (BL)

The government will pay outstanding balance to holders of special bonds, issued to help the then India’s largest mutual fund UTI bridge deficit in its flagship scheme US-64 and assured return schemes, on their maturity on January 14, 2010. (ET)

Third party administrators facilitating cashless treatment in hospitals for individuals holding health insurance will have to deduct tax upfront while making payments to hospitals on behalf of patients. (ET)

ASSOCHAM has called for inclusion of alloy hot rolled coils (HRCs) in the restricted import list to protect domestic steel industry from cheap imports. (ET)

Government’s plan to ensure a balanced growth of the power market in the country by encouraging trading of power has received a severe jolt with as many as six companies surrendering their trading licences to CERC. (ET)

The government has decided to double the limit of authorized capital in public sector banks to Rs30bn. (ET)

Union Steel ministry has proposed that licensing the mining of strategic minerals should be vested to centre. (FE)

Finance ministry constituted a working group to suggest ways of rationalizing existing regulations relating to foreign portfolio investments. (FE)

Nothing tempting but keep watch!

Most people would like to be delivered from temptation but would like it to keep in touch.

With F&O expiry just a day away, it would be wise to remain non-committal. We expect a flat to cautious start and another choppy day. The main indices will remain mostly sluggish in a tight range. The Nifty is likely to face resistance as it moves towards the year’s high around 5200. Support may kick in at around 5040-5050. Global events, particularly those in the US, will continue to drive the sentiment.

Markets in the US will be shut on Thursday for Thanksgiving and will close early on Friday. Next week will be important, as global markets try to gauge the mood of the US consumer this holiday season following the Black Friday, the day after Thanksgiving and the start of the crucial holiday shopping period in the US.

Back home, the immediate event to watch out for will be the second quarter GDP data, due out on Nov. 30. After a soft October and a steady November, trading in global equities could turn listless as everyone sort of wraps up the year. Fund flows might slow down, which will have repercussions for emerging markets like India. Having said that, if economic reports continue to show improvement, there is a possibility that world markets could make new highs for the year.

Meanwhile, concerns about banks came back to haunt China and Europe. In the US, stocks lost some ground amid persistent economic worries. A slow recovery is what the Fed predicts for the US along with high unemployment. This means rates will remain near zero for a few more months. The so-called ‘exit’ from the accommodative monetary policy is still some distance way. This holds true not just for the US, but for all the nations, including India.

What this also means is there is no danger to the dollar carry trade. Equities and other risky asset classes like commodities will continue to benefit at the cost of the dollar. But, it would be interesting to see how the markets behave once the dollar bottoms out. That unwinding, whenever it unfolds will have a bearing on global equities. Whether the economic recovery picks up further momentum or fizzles out will also be keenly followed.

FIIs were net buyers in the cash segment on Tuesday at Rs1.69bn on a provisional basis. The local funds were net sellers of Rs1.47bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers at Rs1.85bn. FIIs were net sellers of Rs680mn on Monday. FIIs' net investments in Indian stocks this year have crossed $15bn. Mutual Funds were net buyers of Rs2.19bn on Monday.

US stocks ended a volatile session with modest losses on Tuesday, as the Federal Reserve's improved outlook and some signs of improvement in housing tempered a weaker revision on economic growth released in the morning.

The Dow Jones Industrial Average lost 17 points, or 0.2%, to 10,433.71. The Dow ended the previous session at its highest level since Oct. 2, 2008. The Nasdaq Composite index lost 7 points, or 0.3%, to 2,169.18 while the S&P 500 index was barely changed, at 1,105.65.

US stocks slipped in the morning after a report showed third-quarter GDP grew at a slower pace than initially reported. But stocks cut losses in the afternoon as the dollar went from mixed to weak. The minutes from the last Fed policy meeting also helped investors recover from bigger morning losses.

Since bottoming at a 12-year low on March 9, the Dow has gained 59.4% as of Tuesday's close. In that same period, the Nasdaq gained 69% and the S&P 500 gained nearly 64%.

Trading was volatile and trading volume was low, a trend likely to continue through the holiday-shortened trading week. All financial markets are closed on Thursday for Thanksgiving. Stocks trade in an abbreviated session Friday.

The Fed lifted its estimate for growth next year and cut its forecast for the unemployment rate. However, the central bank also lifted its forecast on the unemployment rate for 2011 and 2012, with job growth likely to be modest amid a slowly-recovering economy.

GDP, the broadest measure of the nation's economic growth grew at a slower pace last quarter than initially thought, adding to bets that the recovery will be sluggish. The US economy grew at a 2.8% annual rate in the third quarter, the Commerce Department said. That figure met analysts' estimates but was short of the 3.5% initially reported.

Home prices rose 3.1% in the third quarter versus the second, but remained almost 9% lower versus a year ago, according to an S&P/Case-Shiller study of the 20 largest metropolitan areas. Prices rose 0.3% in September versus August, but fell versus a year ago.

The third big economic report of the morning was the Consumer Confidence index from the Conference Board. The index rose to 49.5 in November from 48.7 in October versus forecasts for a reading of 47.5.

After the close on Monday, Dow component Hewlett-Packard (HP) reported higher quarterly earnings of $1.14 per share, in line with its raised forecast released last week. The computer maker reported a drop in revenue. HP also said that it was tripling its share repurchase program to $12 billion.

The dollar slipped against the euro and the yen.

US light crude oil for January delivery fell $1.11 to settle at $76.45 a barrel on the New York Mercantile Exchange.

COMEX gold for December delivery rose $1.90 to settle at $1,166.60 an ounce, a new record settle. Gold touched a record trading high of $1,174 in the previous session.

Treasury prices rose, lowering the yield on the 10-year note to 3.31% from 3.33% on Monday.

Wednesday brings reports on personal income and spending, durable goods orders and new home sales, all for October. The weekly jobless claims report is also on tap.

European shares ended lower, weighed down by losses for banks amid worries about capital levels. The pan-European Dow Jones Stoxx 600 index fell 0.6% to close at 246.88. The index jumped 2% on Monday, its first gain in five sessions.

Banks declined in Europe after a report from Standard & Poor's on the banking sector discussed capital strength of lenders using a risk-adjusted capital ratio methodology developed by the agency.

German state-controlled bank WestLB said that it is in intensive talks with the government in Berlin about offloading assets from its balance sheet into a so-called bad bank. The news triggered a sharp rise in the cost of protecting WestLB's debt against default.

The French CAC-40 index fell 0.7% to close at 3.784.62, the German DAX index lost 0.6% to settle at 5,769.31 and the UK's FTSE 100 index declined 0.6% to end at 5,323.96.

Indian stock benchmarks slipped on Tuesday, taking a cue from global markets, as investors remained a little wary of taking on more risk with only a few weeks left in the year. Valuations too are not too compelling as they were a few months back.

There are a few concerns on how the global economy will shape up in the absence of emergency support measures though governments have promised not to press the 'exit' button too soon. Still, the market may remain firm as the dollar will remain under pressure and drive the trade in risky assets.

The BSE Sensex ended a volatile trading day at 17,098.39, down about 82 points or 0.5% from the previous close. The NSE Nifty shed 25 points or 0.5% to shut shop at 5078.65. The Nifty found support at 5075 and it's near-term trading range is between 4890-5110.

Meanwhile, the non-index counters did relatively better than their heavyweight peers. The BSE Small-Cap index rose slightly while the BSE Mid-Cap index finished flat.

The new listing today, Den Networks was down about 18% at Rs160.35 after touching a high of Rs199.80 and a low of Rs149.50, on the NSE.

The big losers in the Sensex were Tata Steel, Reliance Infra, ITC, Sterlite, ONGC, ICICI Bank and BHEL. The top gainers in the BSE-30 index included Maruti Suzuki, M&M, Bharti Airtel, Hero Honda and Hindalco.

In the Nifty, Jindal Steel & Power was a big loser, along with IDFC, PowerGrid, HCL Tech, Siemens and Suzlon. BPCL, Cipla and Ambuja Cement were the other notable winners in the Nifty.

Outside the main indices, the key losers were Vishal Retail, Sobha Developers, SKF India, Mastek, GMDC, Exide, ISMT and Jubilant Organosys.

Among the top gainers were Indo Tech Transformers, HEG, Max India, Bharat Forge, TV Today, Gujarat Flurochemicals, Chambal Fertilizers, Videocon Industries, Amtek India and Balrampur Chini.

The near-term undertone will continue to hinge on global developments. A slew of economic reports are due in the US, which will have a truncated week due to the traditional start to the holiday season. Local event to watch out for is the release of Q2 GDP data, scheduled to be announced on Nov. 30.

European shares declined, with miners paring strong gains from the previous session as the US dollar recovered some of the lost ground against major rivals.

In Asian trading, Chinese shares suffered big losses owing to some profit booking in afternoon trade, with the Shanghai Composite Index ending the day down 3.5%. US stock futures were pointing to mild losses on Wall Street.

Keep an eye on the revised third quarter GDP data, to be released in the US later today. Tuesday also brings reports on US housing prices and consumer confidence in the morning. The minutes from the last Fed meeting will be released in the afternoon.

Morning Notes - Nov 25 2009

Morning Notes - Nov 25 2009

SGX Nifty Live Update - Nov 25 2009

5,089.5 +16.5

Market may remain volatile; Unitech eyed

The market may remain volatile as was witnessed in previous few trading sessions as traders roll over positions in the derivative segment from November 2009 series to December 2009 series ahead of the expiry of the near-month November 2009 contracts on Thursday, 26 November 2009. Asian cues were mixed on Wednesday while US stocks ended marginally in red on Tuesday.

The government can absorb nearly $100 billion of dollars in capital inflows, nearly double what is expected this year, before it needs to take strong restrictive measures, C. Rangarajan, chairman of the Prime Minister's Economic Advisory Council said on Tuesday. Economic growth was picking up, and should hit 7 to 8 % in the fiscal year starting March 2010, he said, adding the biggest worry over the next few months was rising inflation.

Rangarajan said the major economic worry was inflation, which he expected to be around 6.5 % at the end of the fiscal year. He said the the government needed to aim for 4.0 % inflation or less to be compatible with other economies. Any initial curbs would be on speculative funds in sectors such as real estate and borrowing abroad to spend at home he said. The first step was likely to be an increase in the cash reserve ratio for banks, rather than an increase in interest rates, he said. And while monetary policy could be changed, fiscal stimulus would remain in place this fiscal year.

Rangarajan said he expected growth of 7-8 %i n 2009/10, helped by the stimulus. But the government would have to rein in a widening fiscal deficit and withdraw some spending measures. He said he do believe that the process of fiscal consolidation must begin next year.

Brazil and Taiwan have taken steps to curb hot money inflows, and other governments are keeping a watchful eye on inflows, wary that they could fuel asset price bubbles. The IMF's chief economist on Monday warned of bubbles in emerging markets on uncontrolable capital movements, which was echoed by the Asian Development Bank on Tuesday.

President Barack Obama sought to reassure Prime Minister Manmohan Singh on Tuesday of his commitment to boosting U.S. ties with India even as his administration has set its rivals, China and Pakistan, as key priorities. Treating Singh to the first state visit of his presidency, the summit agenda focused heavily on enhancing economic links that have blossomed since India's market reforms in the early 1990s. Obama and Singh told a joint news conference they were committed to completing a 2005 civil nuclear agreement that would open up India's potential $150 billion market in power plants

Among stocks, Unitech will see action as company has repotedly sought approval from the Department of Industrial Policy and Planning and the Reserve Bank of India to raise $700 million through foreign currency convertible bonds.

Astec Lifesciences will be in action as its equity shares are listed on the exchanges today, 25 November 2009. The issue price has fixed at Rs 82 per share.

Asian Markets were trading mixed on Wednesday. The key benchmark indices in China, Hong Kong and South Korea fell by between 0.25% to 0.83%. The key benchmark indices in Indonesia, Japan, Singapore and Taiwan rose by between 0.02% to 0.56%.

Japan's exports fell at the slowest pace in a year in October 2009. Shipments abroad slid 23.2 % from a year earlier in October, compared with a 30.6 % decline in September, the Finance Ministry said today in Tokyo.

Bank of Japan Deputy Governor Hirohide Yamaguchi said on Wednesday that the world economy is recovering after a sharp downturn but has yet to fully emerge from the aftermath of the global financial crisis.

US markets declined but ended off their lows on Tuesday after the Federal Reserve raised its forecast for 2010. Fed minutes indicated that Federal Reserve officials are confident the US economic recovery will be durable, but do not see employment or inflation picking up soon. Earlier, the Dow was down nearly 100 points after a report showed the economy grew less than expected in the third quarter and HP issued a cautious outlook. The Dow was down 17.24 points, or 0.2%, to 10,433.71. The S&P 500 index slipped 0.59 points, or 0.1%, to 1,105.65, while the Nasdaq composite index fell 6.83 points, or 0.3%, to 2,169.18.

In US economic news, Q3 GDP was revised to a 2.8% growth rate, lower than the initial reading of 3.5%. In other data, the conference board's gauge of consumer confidence rose to 49.5 in November 2009 from 48.7 in October 2009. And home prices improved for a fifth straight month in September 2009.

Swift interest rate hikes aimed at containing inflation in product and asset prices could cause another downturn in the slowly recovering economies of the United States and Europe, the head of the World Bank Robert Zoellick said.

Back home, volatility was the order of the day on Tuesday as the key benchmark indices swung between positive and negative zone. Market snapped last two days' gains as a sharp slide in Chinese stocks and weak European markets weighed on investor sentiment. The BSE 30-share Sensex fell 49.10 points or 0.29% to 17131.08 on that day.

As per provisional data on NSE, foreign funds bought shares worth Rs 169.69 crore and domestic funds sold shares worth Rs 146.83 crore on Tuesday.

Eveready Industries

We recommend a buy in the stock of Eveready Industries from a short-term perspective. It is clear from the charts of the stock that it has been on an intermediate-term uptrend since December 2008 low of Rs 11.50. In July, the stock breached a key long-term key resistance at Rs 40 and later on it encountered resistance around Rs 75 in September recording a 52-week high. However, the stock witnessed a minor correction until it found support at Rs 55 and resumed its uptrend. The stock broke through the corrective down trendline as well as 50-day moving average by gaining 10 per cent with heavy volume on November 24. With this the daily and weekly relative strength, indices have entered into the bullish zone. Signalling a buy, the daily moving average convergence and divergence indicator is heading towards the positive territory. Our short-term outlook on the stock is bullish. We expect it’s uptrend to prolong until it hits our price target of Rs 75 in the forthcoming trading session. Trader with a short-term horizon can buy the stock, while maintaining a stop-loss at Rs 64.50.

via BL