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Thursday, December 03, 2009
Turnover rises
Sesa Goa December 2009 futures at discount
Nifty December 2009 futures were at 5,122, at a discount of 9.70 points as compared to the spot closing of 5,131.70. Turnover in NSE's futures & options (F&O) surged to Rs 60,660.28 crore from Rs 56,715.28 crore on Wednesday, 2 December 2009.
Sesa Goa December 2009 futures were at discount at 377.30 compared to the spot closing of 380.
Tata Steel December 2009 futures were near spot closing price at 582 compared to the spot closing of 582.35.
Unitech December 2009 futures were near spot closing price at 90.55 compared to the spot closing of 90.25.
In the cash market, the S&P CNX Nifty rose 8.45 points or 0.16% at 5,131.70.
Asian markets turn higher on Thursday
Nikkei, NZX 50 followed gains while Shanghai fell apart
Stock market in Asian region retained their recent gains on Thursday, 3 December 2009, despite of lack of cues from the Wall Street. However, the sentiment remained cautious as markets await the US non-farm payrolls tomorrow.
On Wall Street, the major stock indices finished mixed, after a Fed report showing modest economic improvements followed data showing larger-than-expected private sector job cuts in November. The Dow Jones Industrial Average closed down by 19 points, or 0.2%, to 10,453. The S&P 500 added about a third of a point at 1109 and the Nasdaq advanced by 9 points, or 0.4%, at 2185.
In the commodity market, crude oil rose above $77 a barrel in New York as the dollar weakened, spurring investor demand for commodities as a hedge against inflation.
Crude oil for January delivery rose as much as 57 cents, or 0.7 percent, to $77.17 a barrel in electronic trading on the New York Mercantile Exchange. The contract was at $77.11 a barrel at 4:15 p.m. in Singapore. Yesterday, it fell $1.77 to settle at $76.60 a barrel.
Brent crude oil for January settlement rose as much as 76 cents, or 1%, to $78.64 a barrel on the London-based ICE Futures Europe exchange. The contract was at $78.61 a barrel at 4:16 p.m. in Singapore. It fell $1.47, or 1.9%, to end yesterday’s session at $77.88 a barrel.
Gold fluctuated after rising to a record for a third day as investors sought protection against the prospect of currency debasement and inflation, spurring demand for the metal as an alternative asset. Spot gold rallied 0.9% to a record $1,226.56 an ounce before declining as much as 0.3% to $1,212.49. The metal traded up 0.3% at $1,218.78 at 2:35 p.m. in Singapore. Gold for February delivery in New York also climbed to an all-time high of $1,227.50, up 1.2% and last traded at $1,219.70.
In the currency market, US dollar and Japanese yen were once again under pressure on broad based rally in Asian stock markets as risk appetites return. Dollar is also under additional pressure from persistent strength in gold which made another record high of 1227.5 before retreating mildly.
The U.S. dollar traded in the upper 87-yen range today in Tokyo on growing investor speculation Japan may take more quantitative easing steps to get the economy out of deflation and on prospects for currency intervention. The Japanese currency softened for third consecutive day against major counterpart as sign of a recovering global economy increased traders appetite for risk, diminishing the value of lower-yielding currencies. The yen was quoted at 87.74 against greenback.
The Hong Kong dollar was trading at HK$ 7.7501 against the dollar. Actually the Hong Kong dollar is pegged at HK$ 7.8 to the U.S. dollar but can trade between HK$ 7.75 and HK$7.85 to the U.S. dollar.
In Sydney trade, the Australian dollar inched higher against the greenback and jumped against the yen as investors welcomed riskier trades after Bank of America said it will repay $US45 billion of taxpayer bailout funds. At the local close, the dollar was buying $US0.9281, marginally higher from yesterday’s close of $US0.9270.
In Wellington trade, the New Zealand dollar was firm against the Australian dollar today even though the Australian dollar was itself in favor with investors. At the local close, the NZ dollar rose to US72.68c from US72.26c in the morning from US72.74c at yesterday closing.
The South Korean won closed at 1,155.3 won to the U.S dollar, down 1.3 won from Wednesday's close of 1,154.
The Taiwan dollar strengthened against the greenback. The Taiwan dollar was trading higher against the US dollar at NT$ 32.1220, 0.0480 up from Wednesday’s close of NT$32.1700.
In equities, Japan led stock market gains in Asia as concerns over the strong yen eased, driving shares of exporters significantly higher.
In Japan, shares market extended winning streak for fourth day in row, with the key Nikkei index topping 9,977 for the first time in over five weeks, on the back of strong gains in export related stock such as electronic maker and automakers on the heels of a weaker yen. Softening domestic currencies easing worries over its recent sharp appreciation.
At the closing bell, the Nikkei 225 Stock Average index was at 9,977.67, spurted 368.73 points or 3.84% from its previous close, while the broader Topix of all First Section issues on the Tokyo Stock Exchange gained 29.30 points, or 3.41%, to 888.04.
On the economic front, capital spending by Japanese manufacturers in the July-September quarter dropped a record 40.7% from a year earlier, reflecting growing uncertainty over the economic outlook, despite improvements in profits and sales, Finance Ministry data showed Thursday.
Meanwhile, the finance ministry also said that Japanese corporate capital spending in the July-September quarter fell 24.8% from a year earlier on an all-industry basis.
In Mainland China, share market snapped three days of winning streak, dragged by market heavyweights as investors took profits after the key index rose for three straight sessions. Bank stocks were weak on tracking lower closing of UK and US banks. Properties shares dived amid worries recent gains outpaced prospects for earnings.
The Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, tumbled 5.12 points, or 0.16%, to 3,264.62, meanwhile the Shenzhen Component Index on the smaller Shenzhen Stock Exchange declined 0.29% or 40.67 points, to 13,759.84. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, slid 0.19%, to 3,590.47.
In Hong Kong, the stock market escalated extending gains for a fourth straight day on the back of persistent buying momentum among banks, properties, and commodity related stocks, after the price of the base metal rose to record highs and Chinese lender ICBC acquisition hopes.
At the closing bell, the Hang Seng Index spurted 264.3 points, or 1.19%, to 22,553.87, meanwhile the Hang Seng China Enterprise, which tracks the overall performance of 43 mainland Chinese state-owned enterprises on the Hong Kong Stock Exchange, escalated 117.89 points, or 0.88%, to 13,459.06.
The International Monetary Fund (IMF), in its Staff Report on Hong Kong released today, recognised the Government's efforts to aid economic recovery and reiterated its support for the Linked Exchange Rate system (LERS).
The IMF sees an economic recovery is under way in Hong Kong, fuelled by growth on the Mainland, supportive government policies and accommodative monetary conditions imported from the US. The economy should steadily strengthen and unemployment should decline in the coming months. Consumer price inflation is projected to be close to zero by the end of 2010.
In Australia, the stocks managed to finish the session above the boundary, after briefly dipping two times below the line as an uninspiring lead from Wall Street. The benchmark All Ordinaries extended winning streak for fourth consecutive day, helped by the gains in retailers’ shares after report stated retail sales rose 0.3% in October to A$19.8 billion. At the closing bell, the benchmark S&P/ASX200 index spurted 12.2 points, or 0.26%, to 4,774.6, meanwhile the broader All Ordinaries surged 12.6 points, or 0.26%, to 4,789.3.
On the economic front, the Australian Bureau of Statistics said retail trade rose a seasonally adjusted 0.3% in October to A$19.75 billion. This follows a decrease of 0.2% in September 2009 and an increase of 0.5% in August 2009.
In New Zealand, equities registered marginal gains, continuing its quiet trading session from yesterday. The share market registered the fourth consecutive session in the positive region. The NZX50 added 0.14% or 4.48 points to 3153.93. The NZX 15 was up 0.07% or 3.80 points to close at 5726.04.
On the economic front, commodity prices in New Zealand rose 10.5% month-on-month in November, the ANZ Bank reported on Thursday. This was mainly due to soaring dairy prices, which increased 22% in November. Commodity prices surged last month for their first annual increase since August 2008 as buyers of dairy products continue to pay a premium as they restock their depleted inventories.
In South Korea, stocks finished higher as technology firms and shipbuilders advanced led by institutional buying. The benchmark Korea Composite Stock Price Index (KOSPI) soared 23.37 points to end at 1,615.00, extending its winning streak to a fourth session.
In Singapore, stocks market rose in choppy trade after fluctuating at least six time in and out of boundary line, following a mixed lead from Wall Street overnight and European market. Investors took profit amid lack of fresh cues, with the mood remaining somewhat cautious, although the Strait index finished in positive terrain on short covering, which emerged in last hour of trading. Financials stocks are well off their highs due to profit taking after recent strong gains. At the closing bell, the blue chip Straits Times Index was at 2,808.18, rose 11.84 points or 0.42%.
In Philippines, the equities ended down as investors booked profits, cutting the recent rally abruptly after the index hit a 21 month high yesterday. The benchmark index PSEi declined 0.93% or 29.05 points to 3,090.91, while the All Shares index erased 0.52% or 10.14 points to 1,915.64.
In Taiwan, stock market stretched its winning streak for fourth flat session, finishing at one week high as financial shares gained after news showing that China’s ICBC is in talks to buy a 20% stake of Cathay in a potential $3.4 billion deal. The benchmark Taiex share index galloped gains for the fourth flat session, by finishing higher by 7.05 points or 0.09% in a day, closing at 7684.67, the highest closing since 26 November 2009 when market finished the day at 7739.16.
On the economic front, Taiwan’s excess national savings rate is expected to grow to 11.01% this year, above the 10% level for the first time in 22 years. According to the Cabinet-level Directorate General of Budget, Accounting & Statistics (DGBAS), with excess savings being defined as national savings minus investments.
In another release from the Cabinet-level Directorate General of Budget, Accounting & Statistics (DGBAS), Taiwan is likely see a record trade surplus of US$29.9 billion in 2009 and the figure for 2010 is very likely to remain the same.
In India, the key benchmark indices retraced from 1-1/2 month highs after comments by a top economic adviser and data showing a surge in food price inflation reinforced market expectation of a hike in cash reserve ratio by the central bank to suck out excess liquidity in the banking system.
The BSE 30-share Sensex was up 15.77 points or 0.09% to 17,185.68. The Sensex gained 191.36 points at the day's high of 17,361.27 in afternoon trade, its highest since 20 October 2009. The S&P CNX Nifty was up 8.45 points or 0.16% to 5131.70. It hit a high of 5,181 in intraady trade, its highest since 20 October 2009.
Elsewhere, Malaysia's Kula Lumpur Composite index finished higher at 1272.35 while stock markets in Indonesia’s Jakarta Composite index gained 19.06 points ending the day higher at 2500.04.
In other regional market, European shares moved higher for the third straight session on Thursday in a broad-based move, with Peugeot among notable gainers on a possible alliance with Mitsubishi Motors. On a regional level, the U.K. FTSE 100 index rose 0.6% or 33.19 points to 5,361, the German DAX index climbed 0.9% or 53.75 points to 5,836 and the French CAC-40 index advanced 1% or 37.43 points to 3,833.
Sensex ends flat with positive bias
The Sensex turned volatile during last half an hour and thus ended on a flat note with gains led by Reliance Communications, Hindalco Industries and ACC. Healthcare, metal and realty stocks gained except auto. It started on a quiet note with a gain of 29.73 points, at 17,199.64 on Thursday, December 03, tracking strong global cues. The index proceeded to trade higher due to fresh buying seen in select heavyweights by funds and retail investors amid firm Asian markets, touching a high of 17,361.27. However the index in the post noon session erased all its gains and fell into the red on the back of profit booking and soon bounced back to positive terrain to finally close in green.
BSE Midcap and Smallcap index rose 0.39% and 0.92% respectively.
The Sensex ended the day with a gain of 15.77 points, or 0.09% at 17,185.68 after touching a high of 17,361.27 and a low of 17,128.21. The broad-based NSE Nifty climbed 8.45 points, or 0.16% at 5,131.70 after hitting a high of 5,181.00 and a low of 5,106.60.
Major gainers in the 30-share index were Reliance Communications (2.54%), Hindalco Industries (2.42%), ACC (2.05%), Grasim Industries (2.04%), State Bank Of India(2.02%), and Reliance Capital (1.73%).
On the other hand, Tata Motors (3.34%), Hindustan Unilever (1.89%), Jaiprakash Associates (1.11%), ICICI Bank (1%), Hero Honda Motors (0.95%), and Infosys Technologies (0.81%) were the major losers in the Sensex.
Overall market breadth was positive. Out of the total 2,839 stocks traded at BSE, 1,653 advanced, 1,112 declined while 74 remained unchanged.
Major gainers in the sectoral indices were BSE HC which gained 1.66%, Metal climbed 1.19%, rose 0.82%, Realty climbed 0.58% and PSU rose 0.56%, while BSE Auto fell 0.31%, Capital Goods declined 0.06%.
On global front, European stocks rose as Bank of America Corp. said it will repay USD 45 billion of government bailout funds and the Federal Reserve said the US economy improved. UK`s benchmark index FTSE 100 gained 30.76 points, or 0.57%, to trade at 5,357.80. French benchmark index CAC 40 rose 23.53 points or 0.62% to trade at 3,830.61. Germany`s benchmark index DAX increased by 44.76 points or 0.77% to trade at 5,826.26. (4.25 pm)
Asian stocks rose, driving the MSCI Asia Pacific Index to a 15-month high, as a weaker yen boosted Japanese exporters and the Federal Reserve said the US economy improved. Japanese benchmark index Nikkei 225 rose 368.73 points, or 3.84%, to end at 9,977.67. Hong Kong`s Hang Seng is climbed 264.30 points, or 1.19%, to end at 22,553.87. China`s Shanghai Composite decreased 5.12 points, or 0.16% to end at 3,264.63.
Today, the food price index data came in which rose 17.47% in year to November 2009 in which primary article index rose 12.53% while the fuel price index remained unchanged.
BSE Bulk Deals to Watch - Dec 3 2009
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
3/12/2009 530901 ACIL Cot Inds SREE RAM PLYWOOD MANUFACTURING COMPANY PRIVATE LIMITED B 80000 32.63
3/12/2009 530901 ACIL Cot Inds EXCLUSIVE DEALERS PVT LTD B 150000 32.50
3/12/2009 530901 ACIL Cot Inds BEENA R. SURANA S 125000 32.51
3/12/2009 530901 ACIL Cot Inds RAJENDRA NIHALCHAND SURANA S 75000 32.51
3/12/2009 533138 ASTEC LIFE MERCURY FUND MANAGEMENT CO.LTD. B 89200 93.75
3/12/2009 533138 ASTEC LIFE RAJENDRAKUMAR RATANCHAND OSWAL HUF B 100000 94.79
3/12/2009 533138 ASTEC LIFE MARWADI SHARES AND FINANCE LTD. B 119336 92.95
3/12/2009 533138 ASTEC LIFE OPG SECURITIES P LTD B 167236 93.99
3/12/2009 533138 ASTEC LIFE R.M.SHARES TRADING PVT.LTD B 98024 93.21
3/12/2009 533138 ASTEC LIFE JMP SECURITIES PVT LTD B 110300 90.91
3/12/2009 533138 ASTEC LIFE MERCURY FUND MANAGEMENT CO.LTD. S 89200 93.01
3/12/2009 533138 ASTEC LIFE RAJENDRAKUMAR RATANCHAND OSWAL HUF S 100000 91.33
3/12/2009 533138 ASTEC LIFE MARWADI SHARES AND FINANCE LTD. S 119336 93.11
3/12/2009 533138 ASTEC LIFE OPG SECURITIES P LTD S 167236 93.96
3/12/2009 533138 ASTEC LIFE R.M.SHARES TRADING PVT.LTD S 98024 93.26
3/12/2009 508136 B&A JMP SECURITIES PVT LTD S 16152 239.72
3/12/2009 531591 Bampsl Sec JOLLY GUPTA B 650000 0.81
3/12/2009 531591 Bampsl Sec PRAKASHCHAND GUPTA B 1164901 0.80
3/12/2009 531591 Bampsl Sec SATISH KUMAR GUPTA B 1000000 0.80
3/12/2009 531591 Bampsl Sec VIJAY KUMAR GOYAL B 600000 0.81
3/12/2009 531591 Bampsl Sec JOLLY GUPTA S 748732 0.78
3/12/2009 531591 Bampsl Sec PRAKASHCHAND GUPTA S 950000 0.81
3/12/2009 531591 Bampsl Sec OMPARKASH GUPTA S 646017 0.81
3/12/2009 531591 Bampsl Sec SATISH KUMAR GUPTA S 1000000 0.77
3/12/2009 531591 Bampsl Sec GEETIKA GOYAL S 464067 0.77
3/12/2009 532609 Bharati Ship SETU SECURITIES PVT LTD B 200585 205.96
3/12/2009 532609 Bharati Ship SMART EQUITY BROKERS PRIVATE LIMITED B 185815 198.20
3/12/2009 532609 Bharati Ship MATRIX EQUITRADE PVT. LTD. B 135298 199.76
3/12/2009 532609 Bharati Ship OPG SECURITIES P LTD B 357780 200.30
3/12/2009 532609 Bharati Ship JMP SECURITIES PVT LTD B 277036 210.63
3/12/2009 532609 Bharati Ship SETU SECURITIES PVT LTD S 190084 205.66
3/12/2009 532609 Bharati Ship SMART EQUITY BROKERS PRIVATE LIMITED S 185815 198.34
3/12/2009 532609 Bharati Ship MATRIX EQUITRADE PVT. LTD. S 135298 199.89
3/12/2009 532609 Bharati Ship OPG SECURITIES P LTD S 357780 200.32
3/12/2009 532609 Bharati Ship JMP SECURITIES PVT LTD S 201248 210.44
3/12/2009 590059 Bihar Tubes PIPER SECURITIES PVT. LTD. B 174973 66.84
3/12/2009 590059 Bihar Tubes MAVI INVESTMENT FUND LIMITED - GDR S 100000 67.00
3/12/2009 590059 Bihar Tubes MAVI INCESTMENT FUND LIMITED(GDR) S 150000 66.08
3/12/2009 511672 Clarus Finance SANJEEV KUMAR B 16530 10.25
3/12/2009 505052 Clutch Auto HITESH SHASHIKANT JHAVERI B 99619 43.70
3/12/2009 505052 Clutch Auto HITESH SHASHIKANT JHAVERI S 99619 43.70
3/12/2009 532022 Filatex Fash CHIMANLAL MANEKLAL SECURITIES PVT.LTD B 35011 15.79
3/12/2009 523576 Flawless Diam NAMRATA SHARMA S 115200 3.48
3/12/2009 523576 Flawless Diam NARESHCHAND JAIN S 102000 3.41
3/12/2009 523576 Flawless Diam SNEHA DILIP BHAIVARIYA S 99000 3.40
3/12/2009 523576 Flawless Diam GURDEEP SINGH GILL S 140000 3.40
3/12/2009 514167 Ganesh Poly SANGEETA PAREEK U B 53000 23.17
3/12/2009 514167 Ganesh Poly SAKET AGRAWAL S 75814 23.25
3/12/2009 533048 GI ENGINERG UMADEVI AGARWAL B 50000 23.35
3/12/2009 532786 Great Offshore EDELVALUE PARTNERS B 191270 514.39
3/12/2009 505840 Jaipan Inds VHM IMPEX PRIVATE LTD S 33668 37.27
3/12/2009 533103 JINDALCOTEX OPG SECURITIES P LTD B 179235 111.06
3/12/2009 533103 JINDALCOTEX OPG SECURITIES P LTD S 179235 111.10
3/12/2009 532162 JK Paper SUNIL ROSHANLAL BEHKI B 606767 44.93
3/12/2009 532162 JK Paper SUNIL ROSHANLAL BEHKI S 575984 45.05
3/12/2009 532268 Kale Consl HITESH SHASHIKANT JHAVERI B 85516 81.77
3/12/2009 531687 Karuturi Glob CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED B 2900000 16.70
3/12/2009 530255 KAY Power KAUSHALYA GARG B 101850 9.25
3/12/2009 530255 KAY Power BAMPSL SECURITIES LTD. B 53650 9.33
3/12/2009 530255 KAY Power OMPARKASH GUPTA B 100001 8.72
3/12/2009 530255 KAY Power KAUSHALYA GARG S 313541 8.78
3/12/2009 532341 Logix Micro INDIA INVESTMENT PARTNERS LIMITED A/C ICG Q LIMITED S 60603 50.02
3/12/2009 532783 LT Foods SHIVIKA COMMUNICATION PRIVATE LIMITED B 119087 65.65
3/12/2009 532783 LT Foods SHIVIKA COMMUNICATION PRIVATE LIMITED S 119087 65.71
3/12/2009 531515 Mahan Inds MANISH AMARSHI SHAH B 50000 12.75
3/12/2009 531515 Mahan Inds CHANDRAKANT B SHAH S 36500 12.75
3/12/2009 590111 MASTER MULTI PARVATHANENI MOUNISHA S 30735 72.00
3/12/2009 511702 Parsharti Inv JAYESH KUMAR PRAFULBHAI SONI B 31300 38.50
3/12/2009 511702 Parsharti Inv JAYESH KUMAR PRAFULBHAI SONI S 18123 36.42
3/12/2009 531769 PFL Infotech SARAD KUMAR BAID B 50000 15.31
3/12/2009 531769 PFL Infotech SANDEEP KUMAR BAID B 50000 15.31
3/12/2009 531769 PFL Infotech AMIT KUMAR BAID B 50000 15.31
3/12/2009 531769 PFL Infotech MADHUSUDAN BHAGERIA B 30000 15.31
3/12/2009 531769 PFL Infotech ROOPLATA MANAKCHAND JAIN S 75860 15.31
3/12/2009 531769 PFL Infotech PRIME INVEST INFO INVEST LTD. S 200000 15.31
3/12/2009 526588 Photoquip India HEMANSHU SHAH B 24000 30.00
3/12/2009 526588 Photoquip India JAVED MEHDI SAIYED S 100000 30.12
3/12/2009 531855 Prabhav Inds KAMLESH NAVINCHANDRA SHAH HUF B 137000 34.64
3/12/2009 531855 Prabhav Inds PACIFIC FINSTOCK LIMITED S 235800 34.94
3/12/2009 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 45057 26.73
3/12/2009 502587 Rama Pulp PRABHA FARMS PVT LTD S 200000 27.10
3/12/2009 523025 Safari Inds HARDIK UMESHBHAI PUROHIT B 20901 41.09
3/12/2009 513097 Shivalik Bimet SAINATH HERBAL CARE MARKETING P.LTD S 106154 24.19
3/12/2009 500389 Silverline Tech JMP SECURITIES PVT LTD B 469316 6.33
3/12/2009 500389 Silverline Tech JMP SECURITIES PVT LTD S 404316 6.34
3/12/2009 500408 Tata Elxsi OPG SECURITIES P LTD B 399951 228.38
3/12/2009 500408 Tata Elxsi OPG SECURITIES P LTD S 399951 228.60
3/12/2009 532358 Teledata Info CITIGROUP GLOBAL MKTS (M) PVT. LTD. S 1793506 6.08
3/12/2009 533121 THINKSOFT TRANSGLOBAL SECURITIES LTD. B 54536 304.78
3/12/2009 533121 THINKSOFT TRANSGLOBAL SECURITIES LTD. S 54536 305.11
3/12/2009 531249 Well Pack Papers SHOBHNABEN R PARMAR B 23123 311.10
3/12/2009 531249 Well Pack Papers SHOBHNABEN R PARMAR S 22271 310.40
3/12/2009 590013 XPRO India HITESH SHASHIKANT JHAVERI B 198544 35.02
3/12/2009 590013 XPRO India HITESH SHASHIKANT JHAVERI S 148397 34.82
NSE Bulk Deals to Watch - Dec 3 2009
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
03-DEC-2009,ASTEC,Astec LifeSciences Ltd,PATEL PRAKASHBHAI NARSINHBHAI,BUY,151527,94.02,-
03-DEC-2009,ASTEC,Astec LifeSciences Ltd,R.M. SHARE TRADING PVT LTD,BUY,98109,93.21,-
03-DEC-2009,AUSTRAL,Austral Coke & Projects L,ARIHANT SEC & INVESTMENT,BUY,1649998,7.59,-
03-DEC-2009,BHARTISHIP,Bharati Shipyard Limited,BP FINTRADE PRIVATE LIMITED,BUY,235496,202.24,-
03-DEC-2009,BHARTISHIP,Bharati Shipyard Limited,MARWADI SHARES AND FINANCE LIMITED,BUY,191661,200.58,-
03-DEC-2009,BHARTISHIP,Bharati Shipyard Limited,MBL & COMPANY LTD.,BUY,184437,194.65,-
03-DEC-2009,BHARTISHIP,Bharati Shipyard Limited,OM INVESTMENTS,BUY,222951,199.27,-
03-DEC-2009,BHARTISHIP,Bharati Shipyard Limited,SETU SECURITIES LTD,BUY,352893,206.67,-
03-DEC-2009,BHARTISHIP,Bharati Shipyard Limited,VIJIT SHARES AND COMMODITIES PVT.LTD.,BUY,181345,212.61,-
03-DEC-2009,CLUTCHAUTO,Clutch Auto Limited,SETU SECURITIES LTD,BUY,85042,43.55,-
03-DEC-2009,DENABANK,Dena Bank,OPPENHEIMER FUNDS INC A/C OPPENHEIMER INTL-SMALL CO FUND,BUY,3000000,87.75,-
03-DEC-2009,GLOBUSSPR,Globus Spirits Limited,SATYEN KANORIA,BUY,109369,92.88,-
03-DEC-2009,JKPAPER,JK Paper Limited,BEHKI SUNIL ROSHANLAL,BUY,754524,45.06,-
03-DEC-2009,KALECONSUL,Kale Consultants Limited,SETU SECURITIES LTD,BUY,66833,81.92,-
03-DEC-2009,KGL,Karuturi Global Limited,CITIGROUP GLOBAL MARKETS MAURITIUS PVT LTD,BUY,3624000,16.77,-
03-DEC-2009,MALUPAPER,Malu Paper Mills Limited,SETU SECURITIES LTD,BUY,108112,19.07,-
03-DEC-2009,MANALU,Man Aluminium Limited,ALKA JAIN,BUY,33597,45.00,-
03-DEC-2009,MUDRA,Mudra Lifestyle Limited,NOVEL APARTMENTS PVT LTD,BUY,100000,40.00,-
03-DEC-2009,MURUDCERA,Murudeshwar Ceram Ltd,IG FINANCIAL SERVICES INDIA PVT LTD,BUY,8704,40.67,-
03-DEC-2009,POLARIND,Polar Industries Ltd,JYOTI PORTFOLIO LIMITED,BUY,90859,5.30,-
03-DEC-2009,SOMATEX,Soma Textiles & Ind. Ltd.,CROSSLAND TRADING CO,BUY,165895,12.94,-
03-DEC-2009,TATAELXSI,Tata Elxsi (India) Ltd,MANSUKH SECURITIES & FINANCE LIMITED,BUY,200778,227.14,-
03-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,MANSUKH SECURITIES & FINANCE LIMITED,BUY,50883,304.98,-
03-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,59897,305.20,-
03-DEC-2009,ASTEC,Astec LifeSciences Ltd,PATEL PRAKASHBHAI NARSINHBHAI,SELL,85527,93.92,-
03-DEC-2009,ASTEC,Astec LifeSciences Ltd,R.M. SHARE TRADING PVT LTD,SELL,98109,93.29,-
03-DEC-2009,AUSTRAL,Austral Coke & Projects L,ARIHANT SEC & INVESTMENT,SELL,1626362,7.53,-
03-DEC-2009,BHARTISHIP,Bharati Shipyard Limited,BP FINTRADE PRIVATE LIMITED,SELL,235482,202.35,-
03-DEC-2009,BHARTISHIP,Bharati Shipyard Limited,MARWADI SHARES AND FINANCE LIMITED,SELL,191661,200.79,-
03-DEC-2009,BHARTISHIP,Bharati Shipyard Limited,MBL & COMPANY LTD.,SELL,184437,194.96,-
03-DEC-2009,BHARTISHIP,Bharati Shipyard Limited,OM INVESTMENTS,SELL,222951,199.40,-
03-DEC-2009,BHARTISHIP,Bharati Shipyard Limited,SETU SECURITIES LTD,SELL,340363,207.98,-
03-DEC-2009,BHARTISHIP,Bharati Shipyard Limited,VIJIT SHARES AND COMMODITIES PVT.LTD.,SELL,181345,211.71,-
03-DEC-2009,CLUTCHAUTO,Clutch Auto Limited,SETU SECURITIES LTD,SELL,80030,43.50,-
03-DEC-2009,GLOBUSSPR,Globus Spirits Limited,CHITRA BHOJWANI,SELL,100000,92.50,-
03-DEC-2009,GLOBUSSPR,Globus Spirits Limited,SATYEN KANORIA,SELL,71205,93.22,-
03-DEC-2009,JKPAPER,JK Paper Limited,BEHKI SUNIL ROSHANLAL,SELL,724778,44.90,-
03-DEC-2009,KALECONSUL,Kale Consultants Limited,SETU SECURITIES LTD,SELL,71833,81.17,-
03-DEC-2009,KALECONSUL,Kale Consultants Limited,WALLFORT FINANCIAL SERVICES LTD,SELL,98500,81.03,-
03-DEC-2009,MALUPAPER,Malu Paper Mills Limited,SETU SECURITIES LTD,SELL,97762,19.12,-
03-DEC-2009,MANALU,Man Aluminium Limited,HEENA R MANSUKHANI,SELL,33597,45.00,-
03-DEC-2009,MANALU,Man Aluminium Limited,SANJAY D CHAVAN HUF,SELL,30067,46.11,-
03-DEC-2009,MUDRA,Mudra Lifestyle Limited,NOVEL APARTMENTS PVT LTD,SELL,344596,39.67,-
03-DEC-2009,MURUDCERA,Murudeshwar Ceram Ltd,IG FINANCIAL SERVICES INDIA PVT LTD,SELL,170332,40.16,-
03-DEC-2009,POLARIND,Polar Industries Ltd,JYOTI PORTFOLIO LIMITED,SELL,34109,5.35,-
03-DEC-2009,SOMATEX,Soma Textiles & Ind. Ltd.,CROSSLAND TRADING CO,SELL,165895,12.82,-
03-DEC-2009,TATAELXSI,Tata Elxsi (India) Ltd,MANSUKH SECURITIES & FINANCE LIMITED,SELL,200578,226.93,-
03-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,MANSUKH SECURITIES & FINANCE LIMITED,SELL,50886,304.94,-
03-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,59897,305.29,-
Sensex ends flat
Today's major news
Jaiprakash Associates starts operations at new cement plant; the stock ends the day 1.11% lower.
Punjab National Bank cuts interest rates on most NRI deposits; the stock is up by 0.32%.
ABG Shipyard exits Great Offshore race; the stock surges 3.51%.
Larsen & Toubro commissions new casting unit in Coimbatore; the stock closed the day 0.10% down.
Tata Tele switches on high-speed mobile TV, the stock jumps 1.15%.
Click here for more stories
Post-market summary
Global signals
European stocks trading with firm gains with banks leading the way after the Bank of America said it would repay the government debt; FTSE 100 rises by 0.58%.
All the major Asian indices closes in green and managed to hold on the morning gains, except for the Shanghai Composite that ended marginally lower. SGX Nifty ended 14 points higher.
US stock futures extend gains and trade higher on Thursday on the back of positive news coming from the Bank of America.
Indian indices
Taking leads from optimist market overseas, the stock market back home opened higher and extended its gains till noon when it turned volatile despite firm opening in European markets. Swinging by 233 points during the day the Sensex’s day’s high was 17361 and the low was 17128. Finally, the Sensex ended 17 points higher and Nifty closed 8 point higher.
Sensex sentiment
Of the 2,840 stocks traded on the BSE, 1,653 stocks advanced, whereas 1,114 stocks declined. Seventy three stocks closed unchanged.
Sectoral & stock screening
Of the 13 sector indices on the BSE, all the indices bar BSE Auto and BSE CG managed to closed in green. BSE HC topped the chart with gains of 1.66% followed by BSE Metal that rose by 1.19%.
On stocks’ front, Jet Airways surged the most by 11.30% followed by Jubilant Organosys that rose by 9.81%. Hindustan Zinc and United Spirits ended the day with gains of over 7% each. Among losers, Indiabulls Financial slid the most by 4.40%, followed by Tata Motors that fell by 3.34% and Piramal Healthcare that shed 3.27%.
Viewing volumes
On stock turnover front, over 1.30 crore shares of Unitech changed hands on BSE followed by Suzlon Energy (1.05 crore shares), IFCI (0.57 crore shares), Reliance Natural Resources (0.47 crore shares) and Ispat Industries (0.43 crore shares).
Small-cap, mid-cap indices outperform Sensex outperform
The key benchmark indices retraced from 1-1/2 month highs after comments by a top economic adviser and data showing a surge in food price inflation reinforced market expectation of a hike in cash reserve ratio by the central bank to suck out excess liquidity in the banking system. The BSE 30-share Sensex rose 15.77 points or 0.09%, off close to 170 points from the day's high and up close to 55 points from the day's low.
Even as the market pared gains the sentiment was upbeat which was reflected in strong market breadth. The sentiment got a lift from media reports that the Union Cabinet will today, 3 December 2009, clear the Pension Fund Regulatory & Development Authority Bill that seeks to bring foreign direct investment (FDI) into the sector.
As per provisional data, foreign funds today, 3 December 2009, bought equities worth a net Rs 334.07 crore. Domestic funds sold stocks worth a net Rs 199.91 crore
The market surged in early trade on firm Asian stocks. The market extended gains later with the Sensex hitting 1-1/2 month high in early afternoon trade. The market pared gains later. A sell-off pulled the market into the red in mid-afternoon trade. The market moved between positive and negative zone later.
Metal stocks rose on gains in metal prices on the London Metal Exchange. Realty stocks also rose. Index heavyweight Reliance Industries reversed early gains. Other index heavyweights, ICICI Bank, Larsen & Toubro and Infosys, edged lower.
In a move that is aimed at signalling the UPA government's intent to aggressively push the reform agenda, the Cabinet will on Thursday 3 December 2009 clear the Pension Fund Regulatory & Development Authority Bill that seeks to bring foreign direct investment (FDI) into the sector. The Bill proposes to allow foreign players to hold up to 26% stake in Indian pension fund companies. It would also permit pension funds to deploy part of their corpus abroad in approved instruments.
The pension bill, originally introduced in Parliament in 2005, could not be cleared due to stiff opposition from Left parties. It was then referred to the Parliamentary Standing Committee on Finance, which recommended the Bill with some modifications.
India needs reforms in product and labour markets for high economic growth, Organisation for Economic Cooperation and Development (OECD) Secretary General Angel Gurria said on Thursday. OECD has forecast the Indian economy to expand more than 7% in 2010 and 7.5% in 2011.
Business activity among Indian services companies expanded in November 2009 but at a slower pace than in the previous month, with broad growth across all sectors, a survey released on Thursday showed. The HSBC Markit Business Activity Index, based on a survey of 400 firms, fell to 55.20 in November after having climbed to a 13-month-high of 56.78 in October. The index has been above 50, which separates expansion from contraction, for seven months as the economy shakes off the impact of the global slowdown.
The Reserve Bank of India (RBI)'s main function is to maintain price stability, Governor D Subbarao said on Thursday. Subbarao said the central bank would revisit its growth target of 6% with an upward bias at its 27 January 2010 monetary policy review.
The Reserve Bank of India (RBI) is likely to revise upwards the economic growth forecast for the current fiscal year to March when it reviews policy in January, a deputy governor Usha Thorat said on Thursday. Thorat also said that money supply growth, which was very low this year compared with in the previous two years, have implications for monetary policy. The RBI at its last review in October forecast economic expansion of 6% with an upward bias. India's exit from its loose monetary policy will be a challenge and managing the crisis was easier than managing the recovery now, Thorat said.
The food price index rose 17.47% in year to 21 November 2009, accelerating from previous week's 15.6% rise, data released by the government today showed. The primary article index rose 12.53%. The fuel price index was unchanged. The worst monsoon rains since 1972 and floods in some parts of the country have hurt summer crops and pushed up food prices.
Inflation based on the wholesale price index was a moderate 1.34% in October, but is expected by economists to raise to as much as 8% by the end of the fiscal year in March 2010, fuelled by high food prices which tend to be beyond the scope of monetary policy. In October, the RBI withdrew emergency liquidity measures and increased some loan provisioning requirements, but left its key policy rates unchanged.
C. Rangarajan, chairman of the prime minister's Economic Advisory Council, today said high inflation would require monetary action on liquidity and food prices must be controlled through supply side measures. His comments reinforced market expectation of a hike in the cash reserve ratio (CRR) by the central bank to suck out excess liquidity in the banking system. Rangarajan also said tax receipts were expected to pick up and the government was likely to maintain its fiscal deficit target.
Rangarajan had recently said the economy could grow 7% this fiscal year with industrial output and services offsetting an expected decline in farm output, but it will be inflation that determines the Reserve Bank's monetary policy.
Data early this week showed the economy grew a robust 7.9% in the quarter through September, its fastest rate in 18 months, beating expectations and adding pressure on the central bank and government to bring forward a rate rise and roll back fiscal stimulus amid mounting inflation.
Rangarajan, a former RBI governor, also reiterated the government stance that fiscal stimulus would remain in place through the end of the fiscal year in March. The central bank holds its next policy meeting in late January 2010.
Indian exports, meanwhile, fell for the 13th straight month in October on an annual basis, but the rate of decline narrowed to 6.6% and economists expect a return to growth in coming months thanks to last year's low base effect and an improving global economy.
Manufacturing activity in India expanded for the eighth consecutive month in November 2009 but at its weakest pace since March on a slowdown in growth of output, new business and employment, a survey released on Tuesday found.
The government may reportedly give more powers to the disinvestment department, allowing it to override the administrative ministries in disinvestment-related decision, as it seeks to fast-track the disinvestment process. The government is aiming to raise up to Rs 14,000 crore via sale of its stake in NTPC, hydel firm Satluj Vidyut Nigam and Rural Electrification Corporation and public offerings will be made by these firms from January to March 2010.
Bank credit for the fortnight ended 20 November 2009 increased by Rs 7,056.63 crore to Rs 28,98,769.90, according to the latest statement of position of commercial banks from the Reserve Bank of India. This is the second fortnight in a row that bank credit has increased. In the preceding fortnight, bank credit increased by Rs 23,147.6 crore. Bankers said that credit growth is likely to pick up following the better than expected second quarter GDP growth numbers.
The World Bank has committed to increase its lending to India to about $7 billion this year from an average $2.3 billion in the previous four years, the finance ministry said in a statement. In September 2009, the World Bank approved $4.3 billion in loans for India to help finance infrastructure building and to shore up the capital of some state-run banks as the economy recovers from the global financial crisis. The loans are part of the bank's $14 billion lending for Asia's third-largest economy over three years through 2012.
European shares rose on Thursday, building on gains in the previous two sessions, with banks up after Bank of America said it would repay government debt. The key benchmark indices in France, Germany and UK were up by between 0.19% to 0.57%.
Most of Asian stocks rose on Thursday as a weaker yen boosted Japanese makers of cars and electronics and the Federal Reserve said the US economy improved. The key benchmark indices in Hong Kong, Singapore, Japan, Indonesia, Taiwan, South Korea rose by between 0.09% to 3.84%. But China's Shanghai Composite fell 0.16%.
Trading in US index futures indicated Dow could gain 53 points at the opening bell on Thursday, 3 December 2009.
US markets ended mixed on Wednesday, 2 December 2009 with the Dow finishing slightly lower, as oil prices fell and investors worried about bank profits. The Dow was down 18.90 points, or 0.2%, to 10,452.68. The S&P 500 was up 0.38 points, or 0.1%, to 1,109.24, and the Nasdaq Composite Index rose 9.22 points, or 0.4%, to 2,185.03.
In economic data, reports showed an improvement in the jobs picture. The ADP reported that private employers shed 1,69,000 jobs from their payrolls in November 2009. This was less than jobs lost in October 2009 but more than expected.
The Fed's beige-book report was the most upbeat in about two years. The report showed consumer spending up moderately, and an improvement in both home sales and construction. However, commercial real estate activity was noted as deteriorating and labor conditions remain weak.
Federal Reserve officials sounded a relatively upbeat note on the US economy on Wednesday, but warned timing withdrawal of the bank's extraordinary support for the economy will prove difficult. Richmond Federal Reserve Bank President Jeffrey Lacker told a conference in Charlotte, North Carolina that US central bankers should not let pockets of economic weakness distract them from fighting inflation as growth recovers.
Lacker said a worldwide pick-up in economic activity was boosting demand for US exports, while housing and autos were no longer a drag on growth. Employment and commercial real estate continue to present serious hurdles, he cautioned. But Lacker appeared confident the risk of an inflation spike was greater than the threat of a persistent decline in consumer prices.
James Bullard, president of the St. Louis Fed, told CNBC he thought the economy would grow more strongly in the fourth quarter than in the third, when gross domestic product expanded at a 2.8 percent annual rate. Bullard said the policy-setting Federal Open Market Committee is determined to keep inflation low, but cautioned that it is a "rough time" for monetary policy. Bullard also cautioned that the Fed's balance sheet - which more than doubled to over $2 trillion during the crisis - poses some medium-term inflation risk.
A senior official at the New York Fed, speaking at a dinner in New York, said the Fed is developing exit strategy tools, including two cash draining instruments.
Meanwhile, the European Central Bank (ECB) is expected to outline a sketch of its exit strategy at a meeting on Thursday, 3 December 2009. The ECB is likely to keep its key lending rate unchanged at a record low 1%
ECB president Jean-Claude Trichet's is expected to signal that the bank is going slowly as it prepares to unwind hundreds of billions of euros in loans it has provided the financial system. The ECB president is expected at the same time to take pains to reassure traders that the central bank won't be lifting interest rates anytime soon, reports suggest.
The BSE 30-share Sensex rose 15.77 points or 0.09% to 17,185.68. The Sensex jumped 191.36 points at the day's high of 17,361.27 in afternoon trade, its highest since 20 October 2009. The Sensex fell 41.70 points at the day's low of 17,128.21 in late trade.
The S&P CNX Nifty rose 8.45 points or 0.16% to 5131.70. It hit a high of 5,181 in intraday trade, its highest since 20 October 2009. Nifty December 2009 futures were at 5,122, at a discount of 9.70 points as compared to the spot closing of 5,131.70. Turnover in NSE's futures & options (F&O) increased to Rs 60,660.28 crore from Rs 56,715.28 crore on Wednesday, 2 December 2009.
BSE clocked a turnover of Rs 5195 crore, lower than Rs 5763.60 crore on Wednesday, 2 December 2009.
The market breadth, indicating the overall health of the market was strong. On BSE, 1648 shares advanced as compared with 1119 that declined. A total of 73 shares remained unchanged.
Among the 30-member Sensex pack, 18 rose while the rest declined.
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 7538.37 points or 78.13% in calendar year 2009, as on 3 December 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex is up 9025.28 points or 110.59% as on 3 December 2009.
Coming back to today's trade, the BSE Mid-Cap index rose 0.39% and the BSE Small-cap index gained 0.92%. Both these indices outperformed the Sensex.
Sectoral indices on BSE displayed mixed trend. The BSE Healthcare index (up 1.66%), the BSE Metal index (up 1.19%), the BSE Realty index (up 0.58%), the BSE PSU index (up 0.56%), the BSE Oil & Gas index (up 0.51%), the BSE Power index (up 0.59%), the BSE Teck index (down 0.44%), the BSE Consumer Durables index (up 0.42%), the BSE IT index (up 0.25%), outperformed the Sensex.
The BSE Auto index (down 0.31%), the BSE Capital Goods index (down 0.06%), the BSE FMCG index (up 0.05%), the BSE Bankex (up 0.06%), underperformed the Sensex.
India's largest private sector firm by market capitialisation Reliance Industries (RIL) rose 0.12% to Rs 1101.55. But, the stock came off the day's high of Rs 1120. The government has reportedly said that the price at which Reliance Industries supplies natural gas to some power plants of state-owned utility NTPC would have to be approved by it. That price, $2.34 per million British Thermal units (mmBtu), was arrived at through a competitive bidding in 2003. In 2007, the government fixed a price of $4.20 per mmBtu for sale of natural gas from the Krishna-Godavari basin to some power and fertiliser companies.
The price of $2.34 per mmBtu and the question of government approval is at the heart of the epic legal battle between Anil Ambani's Reliance Natural Resources (RNRL) and Mukesh Ambani's Reliance Industries (RIL). The famous memorandum of understanding signed between the estranged Ambani brothers provides for supply of gas at the price no greater than price payable to NTPC. RNRL has argued that RIL is free to sell gas to customers without the government approval. RIL contests this, saying the price needs the sanction of the Union government. The government in its affidavit seemed to support the RIL position
Capital goods stocks fell on profit taking. India's largest engineering and construction firm by sales Larsen & Toubro fell 0.1% to Rs 1620.60. The stock came off the day's high of Rs 1634.
Among other capital goods stocks, Praj Industries, ABB and Thermax fell by between 0.11% to 2.8%.
Banking shares fell on profit taking, reversing early gains. India's largest private sector bank by net profit ICICI Bank fell 1% to Rs 883.90. The stock came off the day's high of Rs 905.
India's second largest private sector bank by net profit HDFC Bank was flat at Rs 1806.05 even as its ADR rose 1.68% on Wednesday. The stock came off the day's high of Rs 1823.50.
India's largest bank by net profit and branch network State Bank of India gained 2.02%.
India's largest mortgage lender by total income Housing Development Finance Corporation (HDFC) fell for the second day in a row on investor worry a dual interest rate scheme on home loans introduced by the company would hit margins. The stock lost 0.65%. After market hours on Tuesday, 1 December 2009 the firm announced a dual-rate loan scheme under which a borrower will be charged a fixed rate up to March 2012 and a floating rate thereafter. For a 20-year loan of Rs 30 lakh, a borrower will pay a fixed rate of 8.25% up to March 2012 and then a floating rate that's 500 basis points below the prime lending rate (PLR) - the institution's benchmark rate. Currently, the PLR is 13.75%.
Metal stocks rose as the LMEX, a gauge of six metals traded on the London Metal Exchange, rose 1.18% on Wednesday, 2 December 2009.
Hindalco Industries gained 2.42%, after the company hiked product prices by Rs 3000 a tonnes, with effective from 1 December 2009.
Hindustan Zinc, Sterlite Industries, Steel Authority of India, National Aluminum Company, Tata Steel rose by between 0.57% to 7.16%.
Realty shares gained after some brokerages recently gave buy recommendation on frontline realty shares. Indiabulls Real Estate, Unitech and Sobha Developers rose by between 0.31% to 4.06%.
But, India's largest realty player by market capitalization DLF fell 0.16% reversing early gains on reports the company's founders plan to list their real estate investment trust, DLF Assets in Singapore in June 2010, to raise about $1.2 billion.
India's largest mobile services provider by sales Bharti Airtel rose 0.67%. The company's chief executive Manoj Kohli said today that Bharti Airtel's overseas acquisition plans are still on hold. Among other telecom stocks, Idea Cellular and Reliance Communications rose by between 0.84% to 2.54%.
India's largest thermal power generator by sales NTPC was flat at Rs 209.05. Among other power stocks, CESC, Tata Power Company, Reliance Power rose by between 0.5% to 4.88%.
IT pivotals rose after Federal Reserve said the US economy improved. US is the biggest market for Indian IT companies. India's largest software services exporter Tata Consultancy Services (TCS) rose 0.91%. India's third largest software services exporter Wipro rose 0.87%. Its ADR fell 0.15% on Wednesday. But, India's second largest software services exporter Infosys Technologies fell 0.81%. Its ADR rose 0.13% on Wednesday.
Mahindra Satyam rose 5.04% after the company's American depository receipt, or ADR, jumped 8.35% to $4.80 on the New York Stock Exchange on Wednesday, 2 December 2009.
Cement stocks rose on reports a second wave of cement price hike is likely within a fortnight. There have already been two prices hikes within a week. After prices were up by Rs 5-10 for a 50 kg bag in the last week of November in western and southern India, prices rose by Rs 8-11 a bag in the Mumbai region on Wednesday, 2 December 2009. The next set of price rises would happen in the north which is enjoying comparatively stable prices till now vis-a-vis the south and the west, reports suggest.
India's largest cement producer by capacity ACC rose 2.05%. The company's cement shipments fell 4.04% to 1.66 million tonnes in November 2009 from 1.73 tonnes in November 2008.
Aditya Birla Group's cement shipments rose 15.3% to 2.93 million tonnes in November 2009 over November 2008. Aditya Birla Group last month said it was combining its cement operations under group firm UltraTech Cement to make India's largest cement firm. UltraTech Cement rose 0.81%.
But, India's largest dam builder Jaiprakash Associates fell 1.11% The company posted 48.77% jump in its cement sales to 1.03 million tonnes in November 2008 over November 2008.
FMCG shares rose on renewed buying. Hindustan Unilever, Marico, Nestle India, Dabur India and United Spirits rose by between 0.49% to 7.06%.
Auto stocks were trading mixed after a sharp rally in recent trading sessions triggered by strong monthly sales figures for November 2009.
India's top tractor marker by sales Mahindra & Mahindra (M&M) rose 0.17%. The company's domestic auto sales soared 105.1% to 21,387 units in November 2009 over November 2008. M&M sold a total of 22,587 vehicles (domestic plus exports) in November 2009 as against 11,515 vehicles sold in November 2008.
India's largest small car maker by sales Maruti Suzuki India rose 1.4%. Maruti Suzuki, reportedly plans to raise production by up to 75% over the next five years in a bid to hold on to its 50% market share. The company's total vehicle sales spurted 66.60% to 87,807 units in November 2009 over November 2008. The announcement was made during trading hours on Tuesday. Domestic sales spurted 60.10% to 76,359 units, while exports surged 128.60% to 11,448 units in November 2009 over November 2008.
India's second largest bike maker by sales Bajaj Auto fell 0.39%. The company's total vehicle sales rose 73% to 2.76 lakh units in November 2009 over November 2008. Motorcycles sales jumped 84% to 2.42 lakh units.
India's top truck maker by sales Tata Motors fell 3.34% on profit taking. The company's total sales zoomed 65.49% to 54,108 units in November 2009 over November 2008.
Tata Motors' total passenger vehicle sales in the domestic market grew by 44.52% at 20,706 units last month, against 14,327 units in the same month last year, the company said in a statement released after market hours on Tuesday. Exports jumped by 86.64% at 3,994 units, compared with 2,140 units in the same month last year, it added.
India's largest motorcycle maker by sales Hero Honda Motors fell 0.95%. The company's total vehicle sales jumped 32% to 3.81 lakh units in November 2009 over November 2008.
Ashok Leyland fell 1.38% even after the company's total sales jumped 103.51% to 4,695 units in November 2009 over November 2008.
Shares of state-run oil marketing companies rose after crude oil prices fell on the New York Mercantile Exchange on Wednesday, 25 November 2009. Hindustan Petroleum Corporation (HPCL), Indian Oil Corporation (IOC) and Bharat Petroleum Corporation rose by between 0.68% to 2.14%.
Fall in crude oil prices will reduce under recoveries of state-run oil firms on domestic sale of petrol, diesel, LPG and kerosene at a controlled price. Crude oil futures ended lower Wednesday after US government data showed a larger-than-expected rise in US oil inventories. Light, sweet crude oil for January delivery on the New York Mercantile Exchange lost $1.71 a barrel at $76.66 a barrel
Cals Refineries clocked highest volume of 5.28 crore shares on BSE. Unitech (1.3 crore shares), Mahindra Satyam (1.28 crore shares), SpiceJet (1.24 crore shares) and Suzlon Energy (1.05 crore shares) were the other volume toppers in that order.
State Bank of India clocked the highest turnover of Rs 154.36 crore on BSE. Jet Airways (Rs 132.88 crore), Tata Steel (Rs 123.56 crore), Mahindra Satyam (Rs 123.47 crore) and Unitech (Rs 117.50 crore) were the other turnover toppers in that order.
Markets to open gap-up
Headlines for the day
Bajaj Auto plans 135cc Pulsar - DNA Money
IOC may offload bonds worth Rs100-1500 crore - Business Line
Euro Multivision applies for sops for photo-voltaic project - Business Line
Tata Tele switches on high-speed mobile TV - Business Standard
ABG shipyard exits Great Offshore race - Business Standard
Events for the day
Major corporate action:
Ex-date for interim dividend of Aegis Logistics and Mayur Uniquoters.
Ex-date for dividend of Assam Petro, Ballarpur Industries.
Ex-date for stock split of Flawless Diamonds (I) from Rs10 per share to Re1
Pre-market report
Global signals
On Wednesday, the major European shares ended marginally in the green as FTSE 100 gains mere 0.29% as the rising metal prices helped the miners stock to surge, while better key jobs data from the US boosts sentiments.
Despite positive data on the key Jobs front, the US indices ended mixed as the falling crude prices weigthed on the energy stocks, where Dow closed 0.18% lower, while the Nasdaq and S&P 500 ended the day in the positive zone with marginal gainsof 0.42% and 0.03% respectively.
The major Asian indices are currently trading above yesterdays close with decent gains, except for the China’s Shanghai Composite which dips by 0.21%. At the time of writing this report, SGX traded 27 points higher.
Indian markets
Sensex to open higher with marginal gains as it did in the last few sessions following the Asian cues, however it is expected to remain choppy again.
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 5100 and 5050. While the Sensex is likely to get support at 16600 and may face resistance at 17394.
Indian ADR's
The Indian ADRs trading on the US bourses closed mixed wherein ICICI Bank, Infosys, HDFC Bank and Satyam closed in the green with gains in the range of 0.13%-8.35%. While the other ADRs closed lower with losses of 0.15%-4.33% each, Rediff fell the most.
Commodity cues
In the commodity space, Crude oil prices falls again after a day of gains, with the Nymex light crude oil for January 2010 series sliding by $2.07 to close at $76.30 a barrel.
In the metals space, the Comex Gold for February 2010 series managed to sustain $1200 level. It continued to surge and rose heavily by $12.80 to settle at $1213 a troy ounce, while Comex Silver for March 2010 series rose marginally by $0.12 to settle at $19.33 a troy ounce.
Daily trend of FII/MF investment in equities
On December 02, 2009, FIIs were the net buyers of the Indian Stocks in the tune of 2294.20 crore (with the gross purchase of Rs4533.00 crore and gross sales of Rs2238.90 crore).
While the Domestic mutual funds mutual funds, on December 01, 2009, were net buyer of the stocks in the tune of Rs159.00 crore (with gross purchase of Rs786.60 crore and gross sales of Rs627.60 crore).
Grey Market Premium - Cox and Kings, MBL Infrastructures, Godrej Properties
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Cox & Kings | 330 | 4 to 5 |
| MBL Infra | 165 to 180 | 2 to 3 |
| JSW Energy Ltd. | 100 to 115 | 8 to 9 |
| Godrej Properties | | 5 to 7 |
Daily News Roundup - Dec 3 2009
ONGC along with partners will invest US$10bn into Iran gas fields. (FE)
ABG Shipyard exits Great Offshore race, yet to withdraw open offer. (ET)
Tata Teleservices launches Photon TV – mobile TV on high speed broadband wireless services. (BS)
Over a tenth of Tata Motors’ Nano’s initial bookings are being cancelled mainly because of delivery delays. (BS)
Tata Steel owned Corus is preparing for major re-branding initiative resulting into replacement of the eleven year old Corus badge with the Tata brand. (BS)
DLF plans to list DLF Assets Ltd (DAL) in Singapore in June 201 to raise about US$1.2bn. (FE)
L&T looks to outsource power equipment manufacturing. (BL)
IOC may offload bonds worth Rs10-15bn. (BL)
Maruti exports 0.1mn A-Star in less than a year. (BS)
Gammon India bags orders worth Rs4.6bn. (FE)
Tata Teleservices added 3.9mn subscribers for November 2009. (BS)
BSNL not to join consortium to buy 46% stake in Kuwait’s Zain Telecom as of now. (ET)
REC to launch follow on issue in January 2010. (BS)
CIL pitches for 15% disinvestment in the company. (BS)
HCL BPO eyes buyouts UK and US in media and entertainment sector. (BS)
Pantaloon Retail is planning to invest Rs3.6bn this year to add up 2.4mn sq ft. (ET)
Wipro to hire 5,000 employees in next couple of months. (ET)
Solicitor General has withdrawn from an arbitration case between Sterlite and Government of India over valuation of 49% stake in BALCO. (ET)
Government eyes Rs140bn from stake sale in three PSUs – NTPC, Satluj Vidyut Nigam and REC. (ET)
PNB to cover 100,000 villages by 2013. (BL)
Credit growth back in double digits, growing at 10.8% yoy for the fortnight ended November 23, 2009. (BS)
Sugar mills in Uttar Pradesh have raised the prices of sugarcane per quintal to Rs200-205. (BS)
Cabinet is expected to clear pension fund reforms bill today. (ET)
Government likely to set carbon intensity reduction target in Parliament today. (ET)
Fertilizer sector needs Rs350bn investments to augment capacity and meet demand, according to The Fertilizer Association of India. (BL)
Mandatory PF for salary up to Rs15,000 on cards. (FE)
Subdued start, sideways trade likely
Trouble is only opportunity in work clothes.
Stock markets provide opportunities at all times. Last year’s crash was one of them. The current consolidation is no exception either. Today we expect a flat start due to subdued global markets. In the near-term, the key indices will continue to swing in a range, which is pegged at 4900-5200 on the Nifty. To ride out this volatility one needs to focus on one’s portfolio. Get rid of the laggards and bet on companies with good earnings visibility.
As far as the global markets go, concerns about Dubai's debt troubles appear to be easing. World trade in equities continues to be driven by the US dollar’s weakness. Risky assets such as emerging market equities and currencies are being lapped up. Commodities too have benefited. Gold is hitting new highs every day.
But, the rise in risk appetite is being tempered by some degree of caution after the spectacular rally from the lows of March. From here on, incremental ‘good news’ has to be really strong for the current momentum to sustain. A big worry is on how the ‘exit’ strategies unfold.
Though long-term prospects for India remain positive, a number of factors could pose a challenge. Among the key ones include an imminent hike in interest rates, spiraling inflation, a yawning fiscal deficit, anemic credit growth, bleeding exports and shrinking tax receipts.
FIIs were net buyers in the cash segment on Wednesday at Rs8.86bn on a provisional basis. The local funds were net sellers of Rs2.14bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs2.51bn. FIIs were net buyers of Rs22.94bn on Tuesday. FIIs' net investments in Indian stocks this year have crossed $159bn.
US stocks struggled for direction on Wednesday as investors sought more evidence that a recovery is for real, one day after the Dow Jones Industrial Average closed at its highest point in 14 months.
The Dow lost 19 points, or 0.2%, to 10,452.68. The blue-chip average ended the previous session at the highest point since Oct. 2, 2008. The S&P 500 index ended little changed at 1,109.24. The Nasdaq Composite index rose 9 points, or 0.4%, to 2,185.03.
Investors sorted through the day's news and geared up for the big monthly jobs report due on Friday. Ahead of that, investors will keep an eye on Thursday's weekly jobless claims report from the Labor Department.
The Federal Reserve released its periodic "Beige Book" reading on economic conditions in the nation's 12 districts. The central bank said that economic conditions have improved modestly since its last report in the third week of October. However, labor market conditions remained weak and commercial real estate markets deteriorated.
Wall Street had rallied on Tuesday as worries about Dubai's debt problems eased, pushing the Dow to a 14-month high. The Nasdaq and S&P 500 both closed short of 14-month highs.
GM's CEO Fritz Henderson resigned late on Tuesday and will be replaced by chairman Ed Whitacre on a temporary basis, until a successor can be found. Henderson was a 25-year GM veteran who took over as CEO in March after Rick Wagoner was forced out by the Obama administration as part of GM's government-supervised restructuring.
Payroll services firm ADP said that US employers in the private sector cut 169,000 jobs from their payrolls in November versus forecasts for cuts of 150,000 jobs. Employers cut 196,000 jobs in October.
The report is seen as something of a precursor to the broader monthly labor market report in which employers are expected to have cut 120,000 non-farm payroll jobs in November after cutting 190,000 in October.
Employers announced 50,349 planned job cuts in November, according to another report from outplacement firm Challenger, Gray & Christmas, down 9.6% from October and the lowest number in almost two years. But the total number of cuts announced this year have already outpaced last year's total.
COMEX gold for February delivery rallied $12.80 to settle at $1,213 an ounce, a new closing high. Gold rose as high as $1,218.40 during the session.
The dollar gained versus the euro and the yen after hovering in mixed territory in the morning.
US light crude oil for January delivery fell $1.77 to settle at $76.60 a barrel on the New York Mercantile Exchange.
Treasury prices slipped, raising the yield on the 10-year note to 3.31% from 3.28% late on Tuesday.
European shares edged higher, extending sharp gains from the previous session. The pan-European Dow Jones Stoxx 600 index rose 0.4% to 246.52. The index ended with a 2.7% gain on Tuesday, its best one-day percentage advance since July 15.
The Stoxx 600 index is showing a gain of 24.2% year-to-date and can continue to advance from these levels, according to strategists at ING who raised their 2010 target to 310 on Wednesday.
The UK's FTSE 100 index closed up 0.3% at 5,327.39, while the German DAX index gained 0.1% to 5,781.68 and the French CAC-40 index added 0.5% to 3,795.92.
Indian markets ended flat amid high volatility on Wednesday as bulls ran out of steam after a two day rally. Strong overnight cues from the US and the Asian markets aided the Nifty inch closer to the 5182 levels (52-week high). However, key indices were unable to hold on as traders and investors preferred to book some profits at higher levels.
The shipping sector was in demand mainly on account of the takeover Saga between Bharati Shipyard and ABG Shipyard. Shares of Great Offshore ended with losses. The Auto and the Realty stocks also were among the top gainers however, the FMCG, select IT and Power stocks were among the major losers.
The BSE Sensex slipped 28 points at 17,169 after touching a high of 17,329 and a low of 17,142. The index opened at 17,254. The NSE Nifty ended flat to shut shop at 5,123.
In Asia, the Nikkei in Japan was up 0.4%, while Australia's S&P/ASX ended higher by 1%. Shanghai SE Composite in China gained 1% and Hang Seng index in Hong Kong was up 0.8%.
In Europe, stocks were mixed. The FTSE in the UK was down 0.2%, The DAX in Germany was flat and the CAC 40 index in France was up 0.2%.
Among the 30-components of Sensex, 19 stocks ended in the red and 11 ended in the positive terrain. HDFC, BHEL, ONGC, ITC and HUL ended in the negative terrain. Among the major gainers were Tata Motors, ICICI Bank, HDFC Bank, DLF and SBI.
Shares of Sun Pharma erased early gains and ended lower by 3% to end at Rs1497. The stock hit intra-day high of Rs1638 after the company announced that it received the support of Templeton Asset Management to acquire Israeli drugmaker Taro Pharmaceutical, Templeton Chairman Mark Mobius was quoted as saying.
He added, Supreme Court in Israel should pass a decision quickly so that Sun can take control of Taro. Templeton owns a 10% equity stake in Taro. The scrip opened at Rs1564 it hit an intra-day low of Rs1486 and recorded volumes of over 0.46mn shares on NSE.
Shares of Tata Elxsi were locked at 20% upper circuit to end at Rs203.65 after reports stated that the company’s sales may reach US$400mn within three years. The scrip opened at Rs172 it touched an intra-day high of Rs203 and a low of Rs172 and recorded volumes of over 2mn shares on NSE. The stock had hit its 52-week low of Rs75 on March 06, 2009.
ABG Shipyard and Eleventh Land Developers Pvt. Ltd. (ELDPL) (a wholly owned subsidiary of ABG), announced the sale of 3.078mn shares of Great Offshore (being approximately 8.27% of current paid up shareholding of Great Offshore Ltd.) through a stock market sale. Consequent to this Transaction, the cumulative shareholding of ABG and ELDPL in Great Offshore Ltd. is Rs571 shares.
Bharati Shipyard announced that the Board of Directors decided to revise the open offer price of equity shareholders of Great Offshore to Rs590 per share.
Thus, the offer price per equity share stands revised at Rs590 per share for the open offer for 78,26,788 equity share representing 20% of the emerging voting capital of Great Offshore Ltd.
Shares of ABG Shipyard shot up by over 9% to end at Rs205 and Bharti Shipyard also surged over 11% to end at Rs177.
Shares of LML have advanced by 4.4% to Rs9.55 after the company announced that it started legal proceedings against Piaggio & C. SpA, Italy for breach of Settlement & Clean Break Agreement dated November 15, 1999 by invoking arbitration under the Singapore International Arbitration Centre (SIAC), Arbitration Rules, Singapore.
The scrip opened at Rs9.25 it touched an intra-day high of Rs10.50 and a low of Rs9.15 and has recorded volumes of over shares 2.3nm on NSE.
Market may edge higher on firm Asian stocks
The market may edge higher in early trade on higher Asian stocks. However some profit taking at higher levels cannot be ruled out after a recent sharp surge in share prices that took the key benchmark indices to their highest level in more than a month in intraday trade on Wednesday, 2 December 2009. The government will today unveil data on some wholesale price indices for the year through 21 November 2009 viz. the food price index, the primary articles index and the fuel price index.
The government may reportedly give more powers to the disinvestment department, allowing it to override the administrative ministries in disinvestment-related decision, as it seeks to fast-track the disinvestment process. The government is aiming to raise up to Rs 14,000 crore via sale of its stake in NTPC, hydel firm Satluj Vidyut Nigam and Rural Electrification Corporation and public offerings will be made by these firms from January to March 2010.
In a move that is aimed at signalling the UPA government's intent to aggressively push the reform agenda, the Cabinet will on Thursday 3 December 2009 clear the Pension Fund Regulatory & Development Authority Bill that seeks to bring foreign direct investment (FDI) into the sector. The Bill proposes to allow foreign players to hold up to 26% stake in Indian pension fund companies. It would also permit pension funds to deploy part of their corpus abroad in approved instruments.
The bank credit for the fortnight ended 20 November 2009 increased by Rs 7,056.63 crore to Rs 28,98,769.90, according to the latest statement of position of commercial banks from the Reserve Bank of India. This is the second fortnight in a row that bank credit has increased. In the preceding fortnight, bank credit increased by Rs 23,147.6 crore. Bankers said that credit growth is likely to pick up following the better than expected second quarter GDP growth numbers.
The World Bank has committed to increase its lending to India to about $7 billion this year from an average $2.3 billion in the previous four years, the finance ministry said in a statement. In September 2009, the World Bank approved $4.3 billion in loans for India to help finance infrastructure building and to shore up the capital of some state-run banks as the economy recovers from the global financial crisis. The loans are part of the bank's $14 billion lending for Asia's third-largest economy over three years through 2012.
The economy could grow 7% this fiscal year, with industrial output and services offsetting an expected decline in farm output, but it will be inflation that determines the Reserve Bank's monetary policy, C Rangarajan a top economic advisor said on Tuesday.
On Monday, India reported economic growth of 7.9% in the quarter through September, its fastest rate in 18 months, beating expectations and adding pressure on the central bank and government to bring forward a rate rise and roll back fiscal stimulus amid mounting inflation.
Rangarajan, a former RBI governor, also reiterated the government stance that fiscal stimulus would remain in place through the end of the fiscal year in March. The central bank holds its next policy meeting in late January 2010.
Indian exports, meanwhile, fell for the 13th straight month in October on an annual basis, but the rate of decline narrowed to 6.6% and economists expect a return to growth in coming months thanks to last year's low base effect and an improving global economy.
Manufacturing activity in India expanded for the eighth consecutive month in November 2009 but at its weakest pace since March on a slowdown in growth of output, new business and employment, a survey released on Tuesday found.
Rangarajan, who adjusted his fiscal year GDP growth outlook to 7% from 6.5% said he hoped growth in services and manufacturing would offset any decline in the farm sector.
India's main wholesale price index inflation was a moderate 1.34% in October from a year earlier, but is expected by economists to raise to as much as 8% by the end of the fiscal year in March 2010, fuelled by high food prices which tend to be beyond the scope of monetary policy. In October, the RBI withdrew emergency liquidity measures and increased some loan provisioning requirements, but left its key policy rates unchanged.
Most of Asian stocks rose on Thursday as a weaker yen boosted Japanese makers of cars and electronics and the Federal Reserve said the US economy improved. The key benchmark indices in Hong Kong, Japan, South Korea and Taiwan rose by between 0.01% to 2.28%. But the key benchmark indices in China and Singapore fell by between 0.03% to 0.36%.
US markets ended mixed on Wednesday, 2 December 2009 with the Dow finishing slightly lower, as oil prices fell and investors worried about bank profits. The Dow was down 18.90 points, or 0.2%, to 10,452.68. The S&P 500 was up 0.38 points, or 0.1%, to 1,109.24, and the Nasdaq Composite Index rose 9.22 points, or 0.4%, to 2,185.03.
In economic data, reports showed an improvement in the jobs picture. The ADP reported that private employers shed 1,69,000 jobs from their payrolls in November 2009. This was less than jobs lost in October 2009 but more than expected.
The Fed's beige-book report was the most upbeat in about two years. The report showed consumer spending up moderately, and an improvement in both home sales and construction. However, commercial real estate activity was noted as deteriorating and labor conditions remain weak.
Back home, key benchmark indices saw divergent trend in what was a volatile trading session on Wednesday, 2 December 2009. The market retraced from a one-month high as profit booking emerged. The BSE 30-share Sensex fell 28.36 points or 0.16% to 17,169.91. While, the S&P CNX Nifty was up 1.25 points or 0.02% to 5123.25 on that day.
As per provisional data, foreign funds on 2 December 2009, bought equities worth a net Rs 885.65 crore. Domestic funds offloaded stocks worth a net Rs 213.64 crore.
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