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Wednesday, December 30, 2009
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Markets end in red after 4-day rally
The Sensex ended lower after four-day winning streak amid volatile session ahead of F&O expiry. Consumer durables, realty and IT stocks moved up while FMCG, metal, and capital goods dipped. It opened on a quite note on Wednesday tracking negative Asian shares and traded in a lacklustre manner with not much movements during the day. Select buying and selling was being witnessed in frontliners. Finally, the index closed in red after touching a high of 17,440.05 and low of 17,322.80 as European market belled the day on a negative note
BSE Midcap and Smallcap index rose 0.33% and 1.13% respectively.
On global front, European stocks declined after a six-day rally pushed the Dow Jones Stoxx 600 Index to the highest level in almost 15 months. Asian stocks fell for the first time in three days as Japan Airlines Corp. and Asiana Airlines plunged on debt concerns and as lower oil and gold prices dragged down commodity producers
The Sensex ended the day with a loss of 57.74 points, or 0.33% at 17,343.82 after touching a high of 17,440.05 and a low of 17,322.80. The broad-based NSE Nifty fell 18.50 points, or 0.36% at 5,169.45 after hitting a high of 5,197.05 and a low of 5,160.10.
Major gainers in the 30-share index were Reliance Infrastructure (1.59%), ACC (1.29%), Grasim Industries (1.17%), Mahindra & Mahindra (0.34%), Tata Power Company (0.34%), and ICICI Bank (0.27%).
On the other hand, ITC (2.15%), Hero Honda Motors (2.08%), Sun Pharmaceutical Industries (1.26%), Hindalco Industries (1.23%), Tata Steel (1.17%), and Larsen & Toubro (1.13%) were the major losers in the Sensex.
Overall market breadth was positive. Out of the total 2,935 stocks traded at BSE, 1,779 advanced, 1,083 declined while 73 remained unchanged.
Among the sectoral indices, BSE Consumer Durables which went up 1.45%, climbed 0.57%, Realty rose 0.55%, IT went up 0.14% and Auto rose 0.10%, while BSE FMCG lost 1.12%, Metal lost 0.77%, Capital Goods dropped 0.69%, Oil & Gas fell 0.5% and HC dropped 0.28%.
Turnover rises
Tata Steel December 2009 futures at premium
Nifty December 2009 futures were near spot price at 5,169, as compared to the spot closing of 5,169.45. Turnover in NSE's futures & options (F&O) segment surged to Rs 79,691.40 crore from Rs 74,334.74 crore on Tuesday, 29 December 2009.
The near-month December 2009 contracts will expire tomorrow on 31 December 2009. As per reports, rollover of Nifty positions from December 2009 series to January 2010 was 50% while the market wide rollover stood at 49%, as on Tuesday, 29 December 2009.
Tata Steel December 2009 futures were at a slight premium at 615.90 compared to the spot closing of 615.05.
Jindal Steel & Power December 2009 futures were near spot price at 711.70 compared to the spot closing of 711.20.
Sesa Goa December 2009 futures were near spot price at 410.20 compared to the spot closing of 410.50.
In the cash market, the S&P CNX Nifty fell 18.50 points or 0.36% at 5,169.45.
Asian Markets wrap up Wednesday lower
Sydney, Sensex, Nikkei, NZX 50 edge lower while Seoul, Shanghai step up
Stock markets in Asian region finished mostly lower on Wednesday, 30 December 2009, as lower oil and gold prices dragged down commodity producers. Profit-taking pulling down stocks in Australia and bankruptcy worries about Japan Airlines weighing on the Nikkei. The markets also followed the cues for Wall Street which ended the last session in red.
On Wall Street, stocks failed to build on a six-session winning streak Tuesday as U.S. indices closed slightly to the downside. The Dow Jones Industrial Average finished down by 1.7 points or 0.02%, at 10,545.4. The S&P 500 lost 1.6 points, or 0.1%, to close at 1126.2, and the Nasdaq was down by 2.7 points, or 0.1%, at 2288.4.
In the commodity market, crude oil rose for a sixth day before a U.S. government report that is forecast to show a decline in stockpiles of the fuel in the largest energy- consuming nation.
Crude oil for February delivery rose as much as 32 cents, or 0.4 percent, to $79.19 a barrel on the New York Mercantile Exchange. It was at $79.02 at 4:17 p.m. Singapore time. Yesterday, oil rose 10 cents to $78.87, the highest settlement since 18 November 2009.
Brent crude for February settlement rose as much as 40 cents, or 0.5 percent, to $78.04 a barrel on London’s ICE Futures Europe exchange. It was at $77.83 at 4:17 p.m. Singapore time. Yesterday, prices increased 32 cents, or 0.4 percent, to $77.64 a barrel.
Gold declined for a second day as a rebounding dollar curbed investor appetite for the precious metal as an alternative asset. Gold for immediate delivery slipped 0.4 percent to $1,092.60 an ounce at 8:34 a.m. in Singapore. Gold for February delivery in New York fell 0.4 percent to $1,093.30 an ounce.
In the currency market, US dollar staged a strong rebound overnight. Momentum in the greenback carries on in Asia as stocks are mixed on concern of bankruptcy of Japan Airlines.
The Japanese yen traded in the lower 92-yen zone Wednesday’s in Tokyo, up slightly from its levels overnight in New York on speculation the Federal Reserve will withdraw stimulus measures as the economy recovers. Japan’s currency was quoted at 92.18 yen per dollar from Tuesday’s closing quote at 92.02 yen per dollar.
The Hong Kong dollar was trading at HK$ 7.7548 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 Aussie dollar was broadly firmer on Wednesday, supported by growing optimism over commodity prices but failed to hold on to all of its gains against a rallying US dollar. At the local close, the dollar was trading at $US0.8908, up from yesterday's $US0.8881 but off a high of $US0.8993. It had spiked higher overnight after breaks of resistance levels at $US0.8884 and $US0.8911 triggered a bout of short-covering in an illiquid market.
In Wellington trade, year-end positioning drove the New Zealand dollar to a two-week high offshore before it eased back in the domestic trading session today. The kiwi peaked overnight to US72.12c but had eased to US71.50c by 5pm, still well ahead of its US70.73c level at 5pm yesterday.
The South Korean won closed at 1164.50 won to the U.S. dollar, up 6.7 won from Tuesday’s close.
The Taiwan dollar strengthened against the greenback. The Taiwan dollar was trading higher against the US dollar at NT$ 32.2510, 0.0390 up from Tuesday’s close of NT$32.2900.
In equities, Asian shares finished mixed, with a steep drop in shares of Japan Airlines putting pressure on the market in Tokyo and a rise in financials propping up stocks in Shanghai. Stock market in Philippines was closed for holiday.
In Japan, the shares tumbled on profit taking on the year’s last trading day as soured mood from Japan Airlines’ plunge to a record low amid fears that the company may seek bankruptcy. Japanese banks fell on speculation the companies will have to raise capital. At the closing bell, the Nikkei 225 Stock Average index was at 10,546.44, melted 91.62 points or 0.86% from Tuesday’s close, while the broader Topix of all First Section issues on the Tokyo Stock Exchange declined 8.28 points, or 0.9%, to 907.59.
On the economy front, the Japanese government unveiled Wednesday a basic policy for its growth strategy through 2020, aiming to achieve an average economic growth of 3% in nominal terms by boosting demand in the environmental, health and tourism fields and creating a total of 4.76 million jobs in related industries.
Under the New Growth Strategy whose basic policy was approved by an extraordinary Cabinet meeting in the morning, the government will strive to lift the nation's nominal gross domestic product to around 650 trillion yen in 2020 from the expected 473 trillion yen in fiscal 2009 through next March.
In Mainland China, the share finished the session two-week closing high, helped by upbeat market expectations for the economic recovery and corporate earnings to continue next year. Financials and commodity metal and oil stocks standout today on hopes these companies will most benefit from nation’s economic growth. Window dressing efforts by institutional investors among large caps for portfolio also contributed the rally.
At the closing bell, the Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, spurted 50.84 points, or 1.58%, to 3,262.60, meanwhile the Shenzhen Component Index on the smaller Shenzhen Stock Exchange added 1.04% or 140.48 points, to 13,644.47. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, grew 1.66%, to 3,558.86.
On the economic front, the China Securities Depository and Clearing Corp said today that investors opened fewer accounts to trade China stocks for a fourth consecutive week. A total of 306,554 new China stock trading accounts were opened for the five days ended 25 December 2009.
In Hong Kong, share market trimmed most of morning losses to finish the second last trading session of the year edged lower. Shares of financials, properties, and major heavyweight weighed down on concern recent rallies were overdone. At the closing bell, the Hang Seng Index inched lower 2.82 points, or 0.01%, to 21,496.62, meanwhile the Hang Seng China Enterprise, which tracks the overall performance of 43 mainland Chinese state-owned enterprises on the Hong Kong Stock Exchange, shed 114.16 points, or 0.9%, to 12,530.77.
In Australia, the stock market ended the last full trading day of 2009 little changed on directionless trade in sluggish volumes. Materials and resources and energy stocked witnessed selling pressure after standout performance yesterday. Gold producers fell as the price of the precious metal dropped. Banks were in mixed terrain, with losses in Commonwealth Bank of Australia and Westpac. Energy stocks were mixed, too. At closing bell, the benchmark S&P/ASX200 index slipped 11.80 points, or 0.24%, to 4,833.30, meanwhile the broader All Ordinaries melted 9.70 points, or 0.2%, to 4,847.
In New Zealand, equities dipped down slightly after resuming from the holiday weekend in the positive terrain yesterday. The benchmark index however continued to remain above the 3200-mark level for the fourth session in a row. The New Zealand share market opened in a quiet frame of mind today, slipping slightly on small volumes. At the closing bell, the NZX50 declined 0.13% or 4.22 points to 3220.91. The NZX 15 fell 0.21% or 12.10 points to close at 5860.
In South Korea, stocks finished the last session of 2009 higher as gains by memory chip makers helped offset worries over Kumho Asiana Group's debt rescheduling. Rebounding from opening losses, the benchmark Korea Composite Stock Price Index (KOSPI) gathered 10.29 points to end at 1,682.77, taking this year's total gain to 49.7%.
In Singapore, the share finished the session higher, after hovering around the boundary earlier in the day, on brightened prospects for emerging stock market strengthened typical year-end “window-dressing”. Upbeat expectations for the global economic recovery have attracted an increasing number of investors into the market today. The market breadth was strong with small and mid-cap stocks attracting fancy. Consumer related stocks gained on hopes the ongoing festive season will boost profitability. At the closing bell, the blue chip Straits Times Index was at 2,879.76.
In Taiwan, stock market retrieves his nineteen month high, headed by gains in Taiwan Semiconductor Manufacturing Company on hopes for a brighter earnings outlook in 2010 as new computers and other high-tech gadgets boost demand for chips. The benchmark Taiex share index recouped yesterday losses, attaining a new nineteen month high, by ending the day higher by 58.45 points or 0.73% at 8112.28 - the highest closing since 18 June 2008 when market finished the day at 8217.58.
In India, key benchmark indices registered modest losses as index pivotals underwent correction after four straight days of gains. Volatility was high as traders rolled over positions in the derivative segment from December 2009 series to January 2010 series ahead of the expiry of the near-month December 2009 contracts on Thursday, 31 December 2009. The BSE 30-share Sensex was down 57.74 points or 0.33% to 17,343.82. The S&P CNX Nifty was down 18.50 points or 0.36% to 5169.45.
Elsewhere, Malaysia’s Kula Lumpur Composite index finished slightly lower at 1271.12 while Indonesia’s Jakarta Composites finished the day at 2534.36, i.e. 15.36 points higher.
In other regional market, European stocks traded in a tight range Wednesday after setting fresh 14-month highs in the previous session, with Swiss pharmaceutical company Basilea falling sharply after a setback on a key drug. Among the main country indexes, the German DAX 30 index fell 0.1% to 6,004.58, the French CAC 40 index dipped 0.03% to 3,959.52 and the U.K.’s FTSE 100 index rose 0.1% to 5,441.15.
Listless session
Today's major news
Ashapura set for a bauxite booster; the stock shots up 5.00%.
Shipping Corporation of India set to buy three container ships for $225 million; the stock closed the day 1.24% higher.
HCC bags order worth Rs374.66 crore; the stock ends the day 0.30% lower.
Four Soft wins contract from Sherritt International Corporation; the stock jumps 4.83%.
Cox & Kings’ arm buys two Australian companies; the stock surged 5.09%.
Click here for more stories
Post-market summary
Global signals
The European indices were trading lower on Wednesday, as commodity stocks fell. At the time of writing this report FTSE 100 was trading 0.40% lower.
Among major Asian indices, Hang Seng and Nifty closed lower, while Straits Times, Shanghai composite and Kospi closed with gains. SGX Nifty was down 17 points.
US stock futures opened marginally lower.
Indian indices
Indian markets took a breather after four successive days of gains. Taking leads from weak global markets, the Sensex opened even but soon turned negative and remained in red for the rest of the session. The day’s high was 17440 and the day’s low was 17323. At the time of closing bell, the Sensex was at 17344, 58 points lower. Nifty closed at 5169, 18 points lower.
Market sentiment
Advancing shares outnumbered the declining ones. On the BSE, 1,779 stocks advanced against 1,083 declining stocks. Seventy three stocks closed unchanged.
Sectoral & stock screening
Consumer durable and realty stocks saw some investor interest with the BSE CD and BSE Realty up by 1.45% and 0.55% respectively. On other hand fast moving consumer goods stocks were under pressure with the BSE FMCG down by 1.12%. The rest of the sectors were either marginally up or down.
The star stock of the day was Oracle Finance that was up by 4.64%, followed by Sintex Industries that surged 4.48% and Indian Hotels that rose by 4.23%. Max India slid the most by 2.89%, followed by PTC India that fell by 2.64% and GTL Infrastructure that shed 2.46%.
Viewing volumes
Ispat Industries saw highest trading with over 1.52 crore shares changing hands on the BSE to be followed by wind turbine maker Suzlon Energy (0.82 crore shares), India’s second biggest realty company Unitech (0.72 crore shares), industrial finance provider IFCI (0.33 crore shares) and aluminum major Hindalco Industries (0.31 crore shares).
BSE Bulk Deals to Watch - Dec 30 2009
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
30/12/2009 532774 Accel Front HITESH SHASHIKANT JHAVERI B 146620 75.56
30/12/2009 532774 Accel Front HITESH SHASHIKANT JHAVERI S 134380 75.24
30/12/2009 527001 Ashapura Mine CHETAN NAVNITLAL SHAH B 950000 69.70
30/12/2009 527001 Ashapura Mine VOLCLAY INTERNATIONAL CORP S 950000 69.70
30/12/2009 530355 Asian Oilfield LOTUS GLOBAL INVESTMENTS LIMITED B 150000 63.75
30/12/2009 530355 Asian Oilfield EUREKA CREDIT FINANCE PRIVATE LIMITED S 150000 63.75
30/12/2009 500045 Bellary Steels JMP SECURITIES PVT LTD B 1617912 3.27
30/12/2009 504646 Bhagwati Auto S D BIOTECH LIMITED B 15000 28.69
30/12/2009 526666 Bhartiya Intl MERULAND INSURANCE SERVICES PRIVATE LIMITED B 50419 73.56
30/12/2009 526666 Bhartiya Intl MERULAND INSURANCE SERVICES PRIVATE LIMITED S 50419 74.34
30/12/2009 531327 Charms Inds BIRENKUMAR J THAKER S 30000 5.58
30/12/2009 517973 DMC Intl ANJANA GUPTA B 141812 23.32
30/12/2009 517973 DMC Intl ATUL MITTAL B 74272 23.22
30/12/2009 517973 DMC Intl CENTENARY SOFTWARE PVT LTD B 103007 23.28
30/12/2009 517973 DMC Intl J A FINANCIAL AND MANAGEMENT CONSULTANTS PVT LTD S 132131 23.33
30/12/2009 517973 DMC Intl CENTENARY SOFTWARE PVT LTD S 93803 23.31
30/12/2009 524830 Elder Health AJAY HAMLAI S 22000 77.15
30/12/2009 533109 EURO MULTI UMESH O KEDIA B 154693 34.19
30/12/2009 530337 Exelon Infra KAMALA KANTA GUPTA B 27495 57.53
30/12/2009 530337 Exelon Infra AMIT SARAOGI S 31636 57.23
30/12/2009 530337 Exelon Infra MADHU CHHAPARIA S 21900 57.38
30/12/2009 526899 Himalya Intl ARCADIA SHARE & STOCK BROKERS PVT. LTD B 255662 45.03
30/12/2009 526899 Himalya Intl ANGEL INFIN PRIVATE LIMITED B 195830 45.69
30/12/2009 526899 Himalya Intl ARCADIA SHARE & STOCK BROKERS PVT. LTD S 204990 45.06
30/12/2009 526307 Hind Inds DHEERAJ LOHIA B 61150 24.40
30/12/2009 526307 Hind Inds INDUSTRIAL FINANCE CORPORATION OF INDIA LTD S 50000 24.31
30/12/2009 511682 IFL Promoters DMC INTERNATIONAL LTD B 18500 8.09
30/12/2009 511682 IFL Promoters CENTENARY SOFTWARE PVT LTD S 20000 8.09
30/12/2009 523467 Jai Mata Glass GROWMORE PROPERTIES PVT LTD S 226115 2.70
30/12/2009 522259 Kalindi Rail GENUINE STOCK BROKERS PVT. LTD. B 102632 231.81
30/12/2009 522259 Kalindi Rail PASHUPATI CAPITAL SERVICE PVT LTD B 62469 231.12
30/12/2009 522259 Kalindi Rail SMART EQUITY BROKERS PRIVATE LIMITED B 155542 232.23
30/12/2009 522259 Kalindi Rail TRANSGLOBAL SECURITIES LTD. B 65215 230.62
30/12/2009 522259 Kalindi Rail MBL & Co. LTD. B 114000 231.63
30/12/2009 522259 Kalindi Rail BLUE PEACOCK SECURITIES PVT LT B 74115 229.51
30/12/2009 522259 Kalindi Rail MATRIX EQUITRADE PVT. LTD. B 92927 231.42
30/12/2009 522259 Kalindi Rail MARWADI SHARES AND FINANCE LTD. B 70043 232.44
30/12/2009 522259 Kalindi Rail OPG SECURITIES P LTD B 332236 231.84
30/12/2009 522259 Kalindi Rail H.J. SECURITIES PVT. LTD. B 84640 233.48
30/12/2009 522259 Kalindi Rail GENUINE STOCK BROKERS PVT. LTD. S 102632 232.17
30/12/2009 522259 Kalindi Rail PASHUPATI CAPITAL SERVICE PVT LTD S 60969 231.95
30/12/2009 522259 Kalindi Rail SMART EQUITY BROKERS PRIVATE LIMITED S 155542 232.69
30/12/2009 522259 Kalindi Rail TRANSGLOBAL SECURITIES LTD. S 65215 231.37
30/12/2009 522259 Kalindi Rail MBL & Co. LTD. S 114000 231.56
30/12/2009 522259 Kalindi Rail BLUE PEACOCK SECURITIES PVT LT S 74115 231.43
30/12/2009 522259 Kalindi Rail MATRIX EQUITRADE PVT. LTD. S 92927 231.77
30/12/2009 522259 Kalindi Rail MARWADI SHARES AND FINANCE LTD. S 70043 232.28
30/12/2009 522259 Kalindi Rail OPG SECURITIES P LTD S 332236 231.94
30/12/2009 522259 Kalindi Rail H.J. SECURITIES PVT. LTD. S 84640 233.67
30/12/2009 522259 Kalindi Rail MATTERHORN VENTURES S 59000 230.61
30/12/2009 530255 KAY Power BAMPSL SECURITIES LTD. B 56725 11.89
30/12/2009 532829 Lawreshwar Poly ASHOK KUMAR BILGAIYAN B 93733 6.68
30/12/2009 590111 MASTER V MANIKYALA RAO B 41750 71.50
30/12/2009 590111 MASTER PUNIT KAPOOR S 26750 72.15
30/12/2009 519560 Neha Intl AJMERA SHARES TRADING PVT LTD B 240000 59.20
30/12/2009 519560 Neha Intl VINOD REDDY GADDAM S 350000 59.20
30/12/2009 523820 Neo Corp SWIFT TIE UP PVT LTD B 50000 60.00
30/12/2009 531083 Nihar Info SRINIVASA REDDYALLU B 48400 2.96
30/12/2009 531083 Nihar Info K M REDDY B 54000 2.96
30/12/2009 531083 Nihar Info DIVYESH NIHAR BODA S 102000 2.96
30/12/2009 523385 Nilkamal OPG SECURITIES P LTD B 96025 239.18
30/12/2009 523385 Nilkamal OPG SECURITIES P LTD S 96025 239.53
30/12/2009 532854 Nitin Fire SMART EQUITY BROKERS PRIVATE LIMITED B 70784 299.50
30/12/2009 532854 Nitin Fire OPG SECURITIES P LTD B 181476 302.31
30/12/2009 532854 Nitin Fire ANGEL INFIN PRIVATE LIMITED B 69959 312.09
30/12/2009 532854 Nitin Fire SMART EQUITY BROKERS PRIVATE LIMITED S 70784 299.55
30/12/2009 532854 Nitin Fire OPG SECURITIES P LTD S 181476 302.64
30/12/2009 532854 Nitin Fire ANGEL INFIN PRIVATE LIMITED S 64959 311.88
30/12/2009 531996 Odyssey Corp MOON ENTERPRISES PVT LTD S 55000 23.30
30/12/2009 531996 Odyssey Corp MOHAMMEDALI EBRAHIM GHEEWALA S 27000 23.30
30/12/2009 531496 Omkar Overseas AMBIKA SHYAM SHUKLA B 110000 43.00
30/12/2009 531496 Omkar Overseas SHANKARLAL GOPIRAM AGARWAL S 110000 43.00
30/12/2009 531273 Radhe Dev CHAMPAKLAL JETHALAL SHAH S 2055967 7.11
30/12/2009 502587 Rama Pulp MUDRA SECURITIES B 100000 33.80
30/12/2009 502587 Rama Pulp ANKITA S SHAH B 40966 33.79
30/12/2009 502587 Rama Pulp SURESH SWAROOPCHAND MEHTA B 75000 33.80
30/12/2009 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 75533 33.76
30/12/2009 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA S 152318 33.79
30/12/2009 502587 Rama Pulp ANKITA S SHAH S 40966 33.57
30/12/2009 502587 Rama Pulp PRABHA FARMS PVT LTD S 67000 33.80
30/12/2009 590077 Ranklin Sol EMINENCE CAPITAL SERVICES S 25250 49.25
30/12/2009 532687 Repro India KANCHAN CHHABRA B 53853 111.97
30/12/2009 531646 RFL Intl AJAY GUPTA B 27346 2.08
30/12/2009 531646 RFL Intl NILESH KRUSHNA PALANDE S 105300 2.08
30/12/2009 533083 RISHABHDEV MAHESH MEETAL B 144419 19.17
30/12/2009 533083 RISHABHDEV MAHESH MEETAL S 214586 18.99
30/12/2009 533083 RISHABHDEV ARIHANT SEC & INVESTMENT S 126542 18.90
30/12/2009 521206 Samtex Fashions KINOFOLK INDUSTRIES LTD. B 48876 36.88
30/12/2009 532143 SKM Egg Products ABHISHEK VIJAYKUMAR SHAH B 723895 28.21
30/12/2009 532143 SKM Egg Products ABHISHEK VIJAYKUMAR SHAH S 781556 27.94
30/12/2009 531645 Southern Ispat TECHNIKA SOFTWARE PVT LTD B 56974 38.97
30/12/2009 507892 Suraj Diamond ABHISHEK VIJAYKUMAR SHAH B 455389 52.09
30/12/2009 507892 Suraj Diamond ABHISHEK VIJAYKUMAR SHAH S 455040 52.12
30/12/2009 533121 THINKSOFT DHARMSHI VASHRAM DESAI B 58992 313.68
30/12/2009 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. B 56304 316.96
30/12/2009 533121 THINKSOFT MATRIX EQUITRADE PVT. LTD. B 63324 326.88
30/12/2009 533121 THINKSOFT EUREKA STOCK & SHARE BROKING SERVICES LTD B 50823 325.58
30/12/2009 533121 THINKSOFT OPG SECURITIES P LTD B 93165 327.99
30/12/2009 533121 THINKSOFT DHARMSHI VASHRAM DESAI S 58992 327.16
30/12/2009 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. S 56304 316.16
30/12/2009 533121 THINKSOFT MATRIX EQUITRADE PVT. LTD. S 63324 326.96
30/12/2009 533121 THINKSOFT EUREKA STOCK & SHARE BROKING SERVICES LTD S 50823 325.66
30/12/2009 533121 THINKSOFT OPG SECURITIES P LTD S 93165 328.10
30/12/2009 504966 Tinplate Co SMART EQUITY BROKERS PRIVATE LIMITED B 581345 82.15
30/12/2009 504966 Tinplate Co TRANSGLOBAL SECURITIES LTD. B 809103 80.51
30/12/2009 504966 Tinplate Co MATRIX EQUITRADE PVT. LTD. B 458490 81.74
30/12/2009 504966 Tinplate Co OPG SECURITIES P LTD B 1246837 81.54
30/12/2009 504966 Tinplate Co SMART EQUITY BROKERS PRIVATE LIMITED S 581345 82.24
30/12/2009 504966 Tinplate Co TRANSGLOBAL SECURITIES LTD. S 807103 80.45
30/12/2009 504966 Tinplate Co MATRIX EQUITRADE PVT. LTD. S 458490 81.74
30/12/2009 504966 Tinplate Co OPG SECURITIES P LTD S 1246837 81.60
30/12/2009 526139 Transgene Bio JAIKARNI HOLDINGS PVT LTD B 82711 65.67
30/12/2009 531703 Tribhuvan Hous NIKESH SUDIR PAREKH HUF S 90000 19.95
30/12/2009 531874 Venus Ventures ANITHA YARLAGADDA S 53765 13.15
30/12/2009 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR B 25943 350.80
30/12/2009 531249 Well Pack Papers NAVNATH SAKHARAM GHONE B 37600 351.09
30/12/2009 531249 Well Pack Papers NARENDRA AMRITLAL SHAH B 30000 351.24
30/12/2009 531249 Well Pack Papers SHOBHNABEN R PARMAR B 30679 354.69
30/12/2009 531249 Well Pack Papers PANDYA YAMINIBEN M B 29302 350.39
30/12/2009 531249 Well Pack Papers SHOBHNABEN R PARMAR S 29183 353.05
30/12/2009 531249 Well Pack Papers PANDYA YAMINIBEN M S 29366 350.39
30/12/2009 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR S 27060 350.26
* B - Buy, S - Sell
NSE Bulk Deals to Watch - Dec 30 2009
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
30-DEC-2009,GLOBUSSPR,Globus Spirits Limited,SATYEN KANORIA,BUY,153186,103.88,-
30-DEC-2009,GOLDTECH,Goldstone Tech Ltd.,HEMANT MADHUSUDAN SHETH,BUY,135500,30.00,-
30-DEC-2009,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,BUY,7223274,22.23,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD.,BUY,63825,230.83,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,BLUE PEACOCK SECURITIES PVT LT,BUY,111785,230.71,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,BP FINTRADE PRIVATE LIMITED,BUY,118550,234.37,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,DINESH MUNJAL,BUY,88337,232.48,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,GENUINE STOCK BROKERS PVT LTD,BUY,188177,231.96,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,HARBUX SINGH SIDHU,BUY,281093,232.09,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,KALASH SHARES & SECURITIES PRIVATE LIMITED,BUY,186979,233.60,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,MANIPUT INVESTMENTS PVT. LTD.,BUY,97609,231.68,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,MARWADI SHARES AND FINANCE LIMITED,BUY,76472,231.84,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,MBL & COMPANY LTD.,BUY,172324,231.30,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,NEPTUNE FINCOT PVT LTD,BUY,97198,232.37,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,OM INVESTMENTS,BUY,322061,231.72,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,PASHUPATI CAPITAL SERVICES PVT. LTD.,BUY,74540,231.80,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,R APPALA RAJU,BUY,100000,230.88,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,RAHUL DOSHI,BUY,41729,232.54,-
30-DEC-2009,NITINFIRE,Nitin Fire Protection Ind,BP FINTRADE PRIVATE LIMITED,BUY,80323,306.12,-
30-DEC-2009,NITINFIRE,Nitin Fire Protection Ind,OM INVESTMENTS,BUY,63072,301.56,-
30-DEC-2009,NITINFIRE,Nitin Fire Protection Ind,RAHUL DOSHI,BUY,65609,308.29,-
30-DEC-2009,PIRLIFE,Piramal Life Sciences Lim,CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED,BUY,452522,75.10,-
30-DEC-2009,REPRO,Repro India Limited,KANCHAN CHHABRA,BUY,73977,111.29,-
30-DEC-2009,SALSTEEL,S.A.L. Steel Limited,AJAY ASSET MANAGEMENT PRIVATE LIMITED,BUY,424920,15.02,-
30-DEC-2009,SALSTEEL,S.A.L. Steel Limited,JMP SECURITIES PVT LTD,BUY,823074,15.02,-
30-DEC-2009,SUBEX,Subex Limited,MANJULA JAYANTILAL JAIN,BUY,2000,95.40,-
30-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,65189,317.01,-
30-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,BP FINTRADE PRIVATE LIMITED,BUY,86417,325.15,-
30-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,53816,327.13,-
30-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,PARSVANATH FINCON PRIVATE LIMITED,BUY,84076,314.77,-
30-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,PRASHANT JAYANTILAL PATEL,BUY,63276,328.59,-
30-DEC-2009,TINPLATE,THE TINPLATE CO. (I) LTD,KALASH SHARES & SECURITIES PRIVATE LIMITED,BUY,456383,82.57,-
30-DEC-2009,TINPLATE,THE TINPLATE CO. (I) LTD,NEPTUNE FINCOT PVT LTD,BUY,384477,81.60,-
30-DEC-2009,TINPLATE,THE TINPLATE CO. (I) LTD,OM INVESTMENTS,BUY,815936,82.30,-
30-DEC-2009,TINPLATE,THE TINPLATE CO. (I) LTD,TRANSGLOBAL SECURITIES LTD.,BUY,761564,80.31,-
30-DEC-2009,3IINFOTECH,3i Infotech Limited,ICICI BANK LIMITED,SELL,1132379,85.88,-
30-DEC-2009,ASIANELEC,Asian Electronics Ltd,SHAH INVESTMENTS FINANCIAL DEV & CON PRIVATE LIMIT,SELL,230000,39.24,-
30-DEC-2009,GLOBUSSPR,Globus Spirits Limited,SATYEN KANORIA,SELL,234368,103.15,-
30-DEC-2009,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,7340274,22.24,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD.,SELL,63825,230.91,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,BLUE PEACOCK SECURITIES PVT LT,SELL,111785,232.15,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,BP FINTRADE PRIVATE LIMITED,SELL,125540,233.54,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,DINESH MUNJAL,SELL,88337,232.48,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,GENUINE STOCK BROKERS PVT LTD,SELL,188177,231.95,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,HARBUX SINGH SIDHU,SELL,281093,232.14,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,KALASH SHARES & SECURITIES PRIVATE LIMITED,SELL,186979,233.53,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,MANIPUT INVESTMENTS PVT. LTD.,SELL,97609,231.81,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,MARWADI SHARES AND FINANCE LIMITED,SELL,76472,232.17,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,MBL & COMPANY LTD.,SELL,172324,231.38,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,NEPTUNE FINCOT PVT LTD,SELL,99898,231.58,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,OM INVESTMENTS,SELL,322060,231.89,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,PASHUPATI CAPITAL SERVICES PVT. LTD.,SELL,74540,231.54,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,R APPALA RAJU,SELL,100000,231.05,-
30-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,RAHUL DOSHI,SELL,71709,230.30,-
30-DEC-2009,NITINFIRE,Nitin Fire Protection Ind,BP FINTRADE PRIVATE LIMITED,SELL,73428,305.18,-
30-DEC-2009,NITINFIRE,Nitin Fire Protection Ind,OM INVESTMENTS,SELL,63122,301.79,-
30-DEC-2009,NITINFIRE,Nitin Fire Protection Ind,RAHUL DOSHI,SELL,48709,307.71,-
30-DEC-2009,PIRLIFE,Piramal Life Sciences Lim,CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED,SELL,9901,83.00,-
30-DEC-2009,SALSTEEL,S.A.L. Steel Limited,AJAY ASSET MANAGEMENT PRIVATE LIMITED,SELL,405920,14.98,-
30-DEC-2009,SALSTEEL,S.A.L. Steel Limited,JMP SECURITIES PVT LTD,SELL,819727,15.10,-
30-DEC-2009,SUBEX,Subex Limited,MANJULA JAYANTILAL JAIN,SELL,187281,96.04,-
30-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,65189,318.02,-
30-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,BP FINTRADE PRIVATE LIMITED,SELL,79062,325.16,-
30-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,MANIPUT INVESTMENTS PVT. LTD.,SELL,53816,327.31,-
30-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,PARSVANATH FINCON PRIVATE LIMITED,SELL,99076,326.04,-
30-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,PRASHANT JAYANTILAL PATEL,SELL,54276,328.47,-
30-DEC-2009,TINPLATE,THE TINPLATE CO. (I) LTD,KALASH SHARES & SECURITIES PRIVATE LIMITED,SELL,456383,82.66,-
30-DEC-2009,TINPLATE,THE TINPLATE CO. (I) LTD,NEPTUNE FINCOT PVT LTD,SELL,367436,81.70,-
30-DEC-2009,TINPLATE,THE TINPLATE CO. (I) LTD,OM INVESTMENTS,SELL,815936,82.35,-
30-DEC-2009,TINPLATE,THE TINPLATE CO. (I) LTD,TRANSGLOBAL SECURITIES LTD.,SELL,760564,80.38,-
30-DEC-2009,ZANDUPHARM,Zandu Pharma works Ltd,EMAMI INFRASTRUCTURE LIMITED,SELL,6589,6071.94,-
Small-cap, mid-cap indices nudge higher
Profit booking in index pivotals following four straight days of gains pulled the key benchmark indices lower in what was a volatile trading session. Lower US index futures and a subdued trend in European markets, triggered profit taking in the second half of the day's trading session even as most Asian stocks rose. The BSE 30-share Sensex lost 57.74 points or 0.33%, off 96.23 points from the day's high and up 21.02 points from the day's low.
The market breadth was strong with small and mid-cap stocks attracting fancy. Auto stocks extended recent gains with Tata Motors striking a 52-week high. Power generation shares gained for the second running day on follow-up buying. However IT pivotals reversed early gains on profit booking. Pharma pivotals, too, were under selling pressure. Two index heavyweights saw divergent trend with Reliance Industries sliding and ICICI Bank nudging higher.
The market was volatile. After initial gains, the market lost ground in mid-morning trade. A strong intraday rebound pushed the market in positive zone in afternoon trade. The Sensex moved between positive and negative zone later. The market weakened in late trade as US index futures nudged lower.
As per reports, rollover of Nifty positions from December 2009 series to January 2010 was 50% while the marketwide rollover stood at 49%, as on Tuesday, 29 December 2009.
High rollover was seen in power stocks and auto stocks. Reliance Power saw a rollover of 73% while 72% positions were rolled over in Mahindra & Mahindra. Among sectors, high rollover was seen in telecom, banking and FMCG stocks while pharma and IT stocks have seen low rollover. Real estate stocks clocked least rollover.
The market remains closed on Friday, 1 January 2010, for the New Year holiday.
Finance Minister Pranab Mukherjee today said that the government needs to strike a balance between economic growth and cutting fiscal deficit. India's fiscal deficit is estimated at 6.8% of gross domestic product for 2009/10 (April-March), higher than 6.2% in the previous year as the government cut tax rates and boosted spending.
C. Rangarajan, Chairman of the Economic Advisory Council to the Prime Minister, on Tuesday forecast the GDP to grow at 7 to 7.5% this fiscal, signalling an improvement in the domestic economic climate. Speaking at a meet on 'Challenges before the Indian Economy' in Hyderabad on Tuesday, he cautioned that agriculture could show a negative growth of 1-2%, while the industrial and services sectors are projected to grow at 8.6% and 8.7% respectively.
Rangarajan also noted with concern the rising food inflation, which is at an 11-month high now, stating that the task ahead was to check food inflation. He indicated that the Reserve Bank of India could look at raising the cash reserve ratio (CRR) to suck out excess liquidity from the system, even though the central bank may watch the price movements for some more time before taking any decision on rate hike.
The focus of India's monetary policy is shifting to managing recovery and containing inflation from one concentrated on fostering growth after the global downturn, Reserve Bank of India deputy governor Shyamala Gopinath said early this week. She said rising food prices were fuelling concerns of broader price pressures in India and the policy challenge was to address the supply-side constraints.
She said effective assessment of the inflation process and using monetary policy actions at the right time would be critical. Gopinath's comments follow those from fellow Deputy Governor Subir Gokarn on Thursday, 24 December 2009, who said the January 2010 policy review would focus both on growth and inflation, instead of the previous policy focus on growth.
Meanwhile, reacting to media report, petroleum secretary R S Pandey on Tuesday said the government has no immediate plans to raise fuel prices. A recent media report had indicated that auto fuel prices could increase anytime early next year.
Prime Minister Manmohan Singh said on 28 December 2009 that the economy will grow at 7% or a little more in 2009-10. Inaugurating the 92nd annual conference of Indian Economic Association (IEA), Manmohan Singh put a strong defence saying in post-liberalisation the economy all along looked up till the global meltdown hit the growth pace.
India's infrastructure sector grew an annual 5.3% in November 2009, Trade Minister Anand Sharma said last week. Infrastructure sector output grew 3.5% in October 2009 from a year earlier. The sector accounts for 26.7% of the country's industrial output.
Food price index rose 18.65% in the 12 months to 12 December 2009, data released by the government on 24 December 2009, showed. The primary article index jumped 14.66% and the fuel price index rose 3.95%. The worst monsoon in nearly four decades and flooding in some parts of the country have pushed up food prices.
Finance Minister Pranab Mukherjee said last week that containing inflation and cutting fiscal deficit are the major challenges for the government in the short-to-medium term. Mukherjee added that the government is open to altering the proposed draft direct tax code further informing that sustaining high economic growth remains a priority for the government. The draft code has proposed various reform measures, including cutting in corporate tax rate to 25% and streamlining tax laws.
The Indian economy can grow at 7.75% in the fiscal year ending March 2010, the Finance Minister said. He also told an industry conference in New Delhi that agriculture output must grow 4% for the economy to expand 9-10% annually. The government will wait until the February 2010 budget to consider withdrawing some of the fiscal stimulus measures, the Finance Minister said.
The latest data showed that corporate advance tax payments for the October-December 2009 quarter shot up sharply, suggesting a higher profit growth in corporate sector in the third quarter (October-December) of the current fiscal. Corporate advance tax payments for the quarter were up 44% to Rs 48,300 crore against a 3.7% decline in April-June quarter and a 14.7% increase in July-September quarter. The company-wise break-up of advance tax collection suggests a broad-based recovery with automobiles, cement, metals and consumer goods, doing well.
Meanwhile, the cabinet committee on security on Tuesday reportedly put on hold a new ground handling policy in airports that was to be brought in from the New Year as it feared job losses. It also decided to tweak the policy, which will now take effect from 2011, by allowing airlines to handle baggage within a terminal building.
Under the new rules, airlines will handle cargo on the terminal side, but on the tarmac there will only be three ground handling agencies.
The Congress-led government had earlier decided to limit the number of ground handling agencies to three per airport. The decision to limit ground handlers, taken at the insistence of the home ministry, was meant to limit the number of people in the tarmac side of an airport, which is the area where planes land and park.
Coming back to stocks, a likely record fund raising by Indian firms in 2010 could suck liquidity from the secondary market. As per one report, Indian companies have lined up equity raising plans of Rs 150000 crore in calendar 2010, close to two-and-a-half times of what they raised through share sales in calendar 2009 so far.
Emerging-market equity funds inflows tripled last week as the outlook improved for developing-nation exporters, EPFR Global said on Monday. The funds attracted $1.7 billion in the week ended 23 December 2009 from $571.4 million in the previous week, EPFR said in a statement. That added to a record $80.3 billion of investments in emerging-market stock funds so far this year, compared with outflows of $48 billion in the same period in 2008, EPFR said.
Asia ex-Japan Equity Funds also posted modest inflows of $179 million for the week, with investors in this region rotating some exposure from smaller markets like Taiwan and Singapore to bigger ones such as China. China Equity Funds took in another $153 million, maintaining their record-setting pace, and dedicated BRIC Equity Funds also remain on track for a record setting year after absorbing another $451 million.
European markets declined led by oil stocks. Key benchmark indices in UK, Germany and France were down by between 0.36% to 0.79%
Asian markets were trading higher today, 30 December 2009, staging a reversal from early fall. Key benchmark indices in South Korea, Singapore, China, and Taiwan were up by between 0.35% to 1.58%. However the Japanese Nikkei 225 index fell 0.86% while Hong Kong's Hang Seng index was down marginally by 0.01%.
Japan's government set an economic growth target of more than 2% for the coming decade, a pace that's about four times the central bank's estimate of the nation's current speed limit.
The target was released in a statement after a meeting of Prime Minister Yukio Hatoyama's cabinet in Tokyo today on its long-run economic strategy. The government said it's aiming for 1.4 million additional jobs in the environmental industry, 2.8 million posts in health care, and 560,000 positions in tourism by 2020, along with expanded Asian trade, to bolster growth.
Meanwhile, South Korean manufacturers' confidence rose for the first time in three months after the government raised its economic-growth forecast for Asia's fourth-biggest economy.
An index measuring expectations for January climbed to 90 from 85 a month earlier, according to a survey of 1,488 manufacturers released by the Bank of Korea today in Seoul. A measure of non-manufacturing companies' expectations was unchanged at 84 for the third straight month.
Moody's Investors Service on Tuesday downgraded its ratings on Abu Dhabi Commercial Bank, saying its standalone financial strength has weakened from increasing loan delinquencies and impairments of investments. The rating firm also said it expects the weakening operating environment in Dubai and the recent restructuring of Dubai World will continue to weigh on the bank's loan quality and likely profitability in the foreseeable future.
Dubai World shocked investors last month by seeking a six-month moratorium on its $26 billion debt payments although Abu Dhabi later offered a bailout of the company. Abu Dhabi, the oil-rich capital of the seven-member United Arab Emirates, pumped $10 billion into Dubai's financial-support fund two weeks ago by buying its bonds
Trading in US index futures indicated the Dow could fall 46 points at the opening bell on Wednesday, 30 December 2009.
Wall Street ended with marginal losses on Tuesday, 29 December 2009 following the dollar's rebound. The Dow Jones industrial average slipped 1.67 points, or less than 0.1%, to 10,545.41. The Standard & Poor's 500 index was down 1.58 points, or 0.1%, to 1,126.20, while the Nasdaq Composite Index was down 2.68 points, or 0.1%, to 2,288.40.
In economic data, US consumer confidence rose to a three-month high in December, while prices in the hard-hit housing sector stalled in October, breaking a five-month string of gains.
The consumer confidence reading released on Tuesday reinforced views that the economy is gradually recovering, and the October housing data from the widely watched Standard & Poor's/Case-Shiller indexes was seen as indicating the market is stabilizing.
The Conference Board, an industry group, said its index of consumer attitudes rose to a reading of 52.9 in December from a revised 50.6 in November as job market pessimism eased and consumers' expectations reached a two-year high.
In housing, the S&P composite index of home prices in 20 metropolitan areas was flat in October, falling short of expectations for a 0.2% rise. September's index was revised upward to a gain of 0.4%, from a previously reported 0.3%. Only seven of the 20 cities in the composite index had month-over-month gains in prices in October, S&P said.
Traders of short-term US interest rate futures found no reason on Tuesday to alter sentiment that yields, including the benchmark federal-funds rate, will move higher about the middle of next year. Prices have plunged during the past 1 1/2 weeks, reflecting expectations that the battered economy will rebound strong enough for the Federal Reserve to begin a regime of inflation-fighting rate increases.
Traders in fed-funds futures have substantially raised their bets in recent days that the Federal Open Market Committee (FOMC) will lift the funds rate about the middle of 2010. The July 2010 fed-funds contract, at Tuesday's settlement, priced in a 78% chance for the FOMC to raise the Fed funds rate 0.5% at its late June 2010 policy meeting. That's up from a 76% chance at Monday's settlement, a 50% chance at last Wednesday's settlement, and a 38% chance on 18 December 2009.
Closer home, the BSE 30-share Sensex was down 57.74 points or 0.33% to 17,343.82. The Sensex opened marginally higher by 0.68 points at 17,402.24. It gained 38.49 points at the day's high of 17,440.05 in early trade. Sensex fell 78.76 points at the day's low of 17,322.80 in mid-morning trade
The S&P CNX Nifty settled 18.50 points or 0.36% lower at 5169.45 after moving in a band of 5160.10 and 5197.05 during the day. Nifty December 2009 futures were at 5,169, near the spot price.
The Sensex had jumped 800.36 points or 4.82% in four trading sessions from to 17,401.56 on Tuesday, 29 December 2009, from a recent low of 16,601.20 on 21 December 2009.
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 7696.51 points or 79.77% in calendar year 2009, as on 30 December 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex is up 9183.42 points or 111.25% as on 30 December 2009.
Coming back to today's trade, the BSE Mid-Cap index rose 0.33% to 6,696.75 and the BSE Small-Cap index rose 1.13% to 8,307.90. Both these indices outperformed the Sensex.
Sectoral indices on BSE showed mixed trend. The BSE Power index (down 0.06%), the BSE PSU index (down 0.27%), the BSE Bankex (up 0.07%), the BSE Consumer Durables index (up 1.45%), the BSE Realty index (up 0.55%), the BSE Teck index (up 0.06%), the BSE Auto index (up 0.10%), the BSE Healthcare index (down 0.28%), the BSE IT index (up 0.14%), outperformed the Sensex.
The BSE Capital Goods index (down 0.69%), the BSE Metal index (down 0.77%), BSE Oil & Gas index (down 0.50%), the BSE FMCG index (down 1.12%), underperformed the Sensex.
The market breadth, indicating the overall health of the market was strong. On BSE, 1794 shares advanced as compared with 1095 that declined. A total of 80 shares remained unchanged.
BSE clocked a turnover of Rs 4304 crore, higher than Rs 3945 crore on Tuesday, 29 December 2009. Turnover in NSE's futures & options (F&O) segment surged to Rs 79,691.40 crore from Rs 74,334.74 crore on Tuesday, 29 December 2009.
Among the 30-member Sensex pack, 18 declined while the rest gained. Jaiprakash Associates (down 0.80%), Reliance Communications (down 0.80%), and Larsen & Toubro (down 1.13%), edged lower from the Sensex pack
Auto stocks extended recent gains on the back of strong sales in the month of November 2009 and higher advance tax payment in the third quarter.
India's top truck maker by sales Tata Motors advanced 0.34% to Rs 789. The stock hit a 52-week high of Rs 797 in intra-day trade. The company has reportedly commenced trial production of the first batch of the Nano at the new mother plant at the Sanand facility last week. The company will start commercial production of the 'People's Car' from March 2010 onwards.
Tata Motors had shifted its mother plant to Gujarat last year after facing local protests in West Bengal spearheaded by Trinamool Congress leader Mamata Banerjee.
India's largest tractor marker by sales Mahindra & Mahindra (M&M) advanced 0.21%. As per reports the Mahindra Renault joint venture will launch a new variant of its sedan Logan at the upcoming Auto Expo.
India's top small car marker by sales Maruti Suzuki India rose 0.24%.
Power generation stocks extended Tuesday's gains on follow-up buying. India's second largest private sector power generation firm by net profit Reliance Infrastructure jumped 1.50%. The stock extended Tuesday's 2.85% advance on reports its subsidiary Reliance Power Transmission has bagged two transmission projects worth Rs 4100 crore.
Reliance Power rose 0.84% extending Tuesday's 4.94% surge on reports the first unit of the firm's 1,200 megawatt Rosa power plant in Uttar Pradesh started supplying electricity to UP Power Corporation, ahead of schedule.
Tata Power (up 0.42%), Adani Power (up 0.25%), and NHPC (up 0.59%), gained.
India's largest private sector firm by market capitalisation Reliance Industries (RIL) fell 0.44% to Rs 1073. The stock moved in a narrow range of Rs 1083-Rs 1069.85 so far during the day.
RIL has successfully tested the design capacity of its massive eastern offshore Krishna-Godavari basin D6 field production facilities. A flow rate of 80 million standard cubic meters was achieved through the KG-D6 facilities and delivered to the pipeline, the company said in a statement released before market hours on Tuesday.
India's largest oil exploration firm by market capitalisation ONGC slipped 0.96%. The company has reportedly struck a new gas well at Sundaribari in South Tripura district, about 125 km from Agartala.
India's largest private sector bank by net profit ICICI Bank rose 0.52% to Rs 882.25 after sliding to day's low of Rs 865 in intra-day trade. Reportedly the lender is raising up to Rs 1200 crore by selling bonds.
Rate sensitive realty shares gained on fresh buying boosted by a Cushman & Wakefield report that the real estate sector, particularly the retail space, will perform better in the year 2010 as a number of mall projects are getting back on track.
India's largest realty player by market capitalization DLF rose 0.10%. On 16 December 2009, the company's board approved a merger of its commercial realty arm DLF Assets (DAL) with itself, a move aimed at repaying some of DAL's debt.
HDIL (up 0.47%), Unitech (up 0.98%), Indiabulls Real Estate (up 1.49%), Orbit Corporation (up 1.96%) edged higher.
Cement shares gained on speculation cement prices will increase in the first quarter of calendar year 2010 on rise in infrastructure activity.
Ambuja Cement (up 0.74%), UltraTech Cement (up 0.59%), Birla Corporation (up 0.69%) ACC (up 1.17%), Shree Cements (up 2.46%), and JK Lakshmi Cements (up 0.51%), edged higher.
Software pivotals pared early gains on profit booking after a recent strong upmove. The fall came despite encouraging US consumer confidence data and a weak rupee. India's second largest software services exporter Infosys fell 0.18% to Rs 2572.80 after striking a lifetime high of Rs 2609.90 in intra-day trade today.
India's largest software services exporter TCS slipped 0.08% to Rs 741.50, off day's low of Rs 749. India's third largest software services exporter Wipro shed 0.21% to Rs 679.75 after striking day's high of Rs 689.85
Four Soft jumped 4.83% after the company secured an overseas order for one of its software products for undisclosed sum. The company announced the export order win during trading hours today, 30 December 2009.
HCL Infosystems gained 2.07% after the company secured a contract worth Rs 110 crore. The company announced the new order win after market hours on Tuesday, 29 December 2009.
The rupee was trading at 46.72/73 against the dollar, weaker than 45.66/67 on Tuesday, 29 December 2009. A weak rupee boosts revenues of IT firms in rupee terms as the sector derives a lion's share of revenue from exports.
Metal stocks slipped on profit after the recent gains. This was despite a 2.39% surge in LMEX, a gauge of six metals traded on the London Metal Exchange, on Tuesday.
Steel Authority of India (down 0.42%), Hindalco Industries (down 1.42%), Tata Steel (down 0.97%), Sterlite Industries (down 0.54%), JSW Steel (down 1.35%), edged lower.
Man Industries (India) rose 3.06% after the company said it has bought back foreign currency convertible bonds worth $0.50 million. The company made this announcement after trading hours on Tuesday, 29 December 2009.
India's largest pharma firm by market capitalisation Sun Pharmaceuticals lost 1.04%, extending Tuesday's over 2% fall, on continued selling pressure.
Dr Reddy's Laboratories declined 0.95% after its American depository receipt lost 3.49% on Tuesday
India's largest power equipment maker by sales Bharat Heavy Electricals slipped 0.43%. As per reports, the company is in talks with China's Tebian Electric Apparatus Stock Company to jointly manufacture equipment in India.
Select FMCG shares underwent correction on selling pressure. India's largest cigarette maker by sales ITC lost 2.28% to Rs 250.45 and was the top loser from the Sensex pack.
Dabur India (down 1.75%), United Spirits (down 0.90%), Procter & Gamble India (down 0.48%), Tata Tea (down 0.43%), Nestle India (down 0.40%), and Marico (down 1.15%), declined.
Radico Khaitan jumped 2.75% after the government approved Britain's Diageo proposal to raise its stake to 100% in the Indian joint venture Diageo Radico Distilleries.
Consumer durables stocks gained on hopes higher sales in the ongoing festive season will boost profitability. Titan Industries (up 2.17%), Lloyd Electric (up 4.41%), Rajesh Exports (up 0.50%), Videocon Industries (up 0.87%), and Gitanjali Gems (up 0.98%), gained
Sugar stocks gained after the government extended by 15 months a deadline for an obligation to export refined sugar against prior raw sugar imports until the end of March 2011. Bajaj Hindusthan (up 0.41%), Triveni Engineering & Industries (up 1.02%), Shree Renuka Sugars (up 0.27%), Balrampur Chini Mills (up 1.24%), and Sakthi Sugars (up 1%), rose.
On Tuesday, 29 December 2009, the government said the extension of the deadline is applicable to mills that had imported raw sugar between 21 September 2004 and 15 April 2008.
The move is meant to increase local supplies and rein in prices of the sweetener which rose more than 50% in November 2009 from a year ago due to tight supplies.
Apollo Hospitals Enterprise fell 2.80% after the company's chief told the media that the firm has no plans to hive off 'Apollo Reach' into a separate company.
Cals Refineries clocked the highest volume of 2.76 crore shares on BSE followed by Ispat Industries (1.52 crore shares), Tinplate Company (1.11 crore shares), Asahi Infrastructure (1.01 crore shares) and Gammon Infrastructure (92.54 lakh shares).
Tata Steel clocked the highest turnover of Rs 140.35 crore on BSE followed by Sesa Goa (Rs 106.37 crore), HDIL (Rs 91.55 crore), Tinplate Company (Rs 91.26 crore), and Kalindee Rail Nirman Engineers (Rs 79.80 crore)
Market seen halting four-day rally on subdued global cues
The market is likely to end its four-day winning streak following subdued global cues. The S&P CNX Nifty futures for December 2009 expiry were trading 6 points lower in Singapore. Aviation stocks may see action on reports the new ground handling policy implementation has been deferred by a year.
Trading volumes are likely to take a hit in the last week of the calendar year 2009 as most foreign fund managers will be on year-end vacation. The market is closed on Friday, 1 January 2010 for New Year holiday.
Volatility may zoom as traders roll positions in the derivative segment from December 2009 series to January 2010 series ahead of the expiry of the near-month December 2009 contracts on Thursday, 31 December 2009. As per reports, rollover of Nifty positions from December 2009 series to January 2010 was 50% while the marketwide rollover stood at 49%, as on Tuesday.
Highest rollover was seen in power stocks and auto stocks. Reliance Power saw a rollover of 73% while 72% positions were rolled over in Mahindra & Mahindra. Among sectors, high rollover was seen in telecom, banking and FMCG stocks while Pharma and IT stocks saw low rollover. Real estate stocks clocked least rollover.
Aviation stocks may see action on reports the new ground handling policy implementation has been deferred by a year. The Cabinet Committee on Security has decided that tarmac side ground handling will be outsourced to three companies.
The Cabinet Committee on Security met in Delhi on 29 December 2009 and the decision that they have taken comes as a major relief to airlines. They will now allow airlines to continue doing ground handling in the terminal building and that is what most of the airlines are right now doing.
The focus of India's monetary policy is shifting to managing recovery and containing inflation from one concentrated on fostering growth after the global downturn, Reserve Bank of India deputy governor Shyamala Gopinath. She said rising food prices were fuelling concerns of broader price pressures in India and the policy challenge was to address the supply-side constraints.
She said effective assessment of the inflation process and using monetary policy actions at the right time would be critical. Gopinath's comments follow those from fellow Deputy Governor Subir Gokarn on Thursday, 24 December 2009, who said the January 2010 policy review would focus both on growth and inflation, instead of the previous policy focus on growth.
Meanwhile, reacting to media report, petroleum secretary R S Pandey today said the government has no immediate plans to raise fuel prices. A recent media report had indicated that auto fuel prices could increase anytime early next year.
Prime Minister Manmohan Singh said on 28 December 2009 that the economy will grow at 7% or a little more in 2009-10. Inaugurating the 92nd annual conference of Indian Economic Association (IEA), Manmohan Singh put a strong defence saying in post-liberalisation the economy all along looked up till the global meltdown hit the growth pace.
India's infrastructure sector grew an annual 5.3% in November 2009, Trade Minister Anand Sharma said on Thursday. Infrastructure sector output grew 3.5% in October 2009 from a year earlier. The sector accounts for 26.7% of the country's industrial output.
Food price index rose 18.65% in the 12 months to 12 December 2009, data released by the government on 24 December 2009, showed. The primary article index jumped 14.66% and the fuel price index rose 3.95%. The worst monsoon in nearly four decades and flooding in some parts of the country have pushed up food prices.
Finance Minister Pranab Mukherjee said last week that containing inflation and cutting fiscal deficit are the major challenges for the government in the short-to-medium term. Mukherjee added that the government is open to altering the proposed draft direct tax code further informing that sustaining high economic growth remains a priority for the government. The draft code has proposed various reform measures, including cutting in corporate tax rate to 25% and streamlining tax laws.
The Indian economy can grow at 7.75% in the fiscal year ending March 2010, the Finance Minister said. He also told an industry conference in New Delhi that agriculture output must grow 4% for the economy to expand 9-10% annually. The government will wait until the February 2010 budget to consider withdrawing some of the fiscal stimulus measures, the Finance Minister said.
The latest data showed that corporate advance tax payments for the October-December 2009 quarter shot up sharply, suggesting a higher profit growth in corporate sector in the third quarter (October-December) of the current fiscal. Corporate advance tax payments for the quarter were up 44% to Rs 48,300 crore against a 3.7% decline in April-June quarter and a 14.7% increase in July-September quarter. The company-wise break-up of advance tax collection suggests a broad-based recovery with automobiles, cement, metals and consumer goods, doing well.
A record fund raising plans by Indian firms could suck liquidity from the secondary market. As per one report, Indian companies have lined up equity raising plans of Rs 150000 crore in calendar 2010, close to two-and-a-half times of what they raised through share sales in the year about to end on 31 December 2009.
Emerging-market equity funds inflows tripled last week as the outlook improved for developing-nation exporters, EPFR Global said on Monday. The funds attracted $1.7 billion in the week ended 23 December 2009 from $571.4 million in the previous week, EPFR said in a statement. That added to a record $80.3 billion of investments in emerging-market stock funds so far this year, compared with outflows of $48 billion in the same period in 2008, EPFR said.
Asia ex-Japan Equity Funds also posted modest inflows of $179 million for the week, with investors in this region rotating some exposure from smaller markets like Taiwan and Singapore to bigger ones such as China. China Equity Funds took in another $153 million, maintaining their record-setting pace, and dedicated BRIC Equity Funds also remain on track for a record setting year after absorbing another $451 million.
Most Asian markets were trading lower for the first time in three days as Japan Airlines Corporation tumbled on reports the carrier's biggest lenders oppose a plan to restructure the company through bankruptcy. Key benchmark indices in Hong Kong, Japan, South Korea, Singapore declined by between 0.16% to 0.70%. However indices in China and Taiwan rose 1.05% and 0.43% respectively.
Japan's government set an economic growth target of more than 2% for the coming decade, a pace that's about four times the central bank's estimate of the nation's current speed limit.
The target was released in a statement after a meeting of Prime Minister Yukio Hatoyama's cabinet in Tokyo today on its long-run economic strategy. The government said it's aiming for 1.4 million additional jobs in the environmental industry, 2.8 million posts in health care, and 560,000 positions in tourism by 2020, along with expanded Asian trade, to bolster growth.
Meanwhile, South Korean manufacturers' confidence rose for the first time in three months after the government raised its economic-growth forecast for Asia's fourth-biggest economy.
An index measuring expectations for January climbed to 90 from 85 a month earlier, according to a survey of 1,488 manufacturers released by the Bank of Korea today in Seoul. A measure of non-manufacturing companies' expectations was unchanged at 84 for the third straight month.
Wall Street ended with marginal losses on Tuesday, 29 December 2009 following the dollar's rebound. Economic data failed to provide any support either.
The Dow Jones industrial average slipped 1.67 points, or less than 0.1%, to 10,545.41. The Standard & Poor's 500 index was down 1.58 points, or 0.1%, to 1,126.20, while the Nasdaq Composite Index was down 2.68 points, or 0.1%, to 2,288.40.
Among economic data, the conference board's gauge of consumer confidence rose to 52.9 in December 2009 from 50.6 in November 2009.
Back home, key benchmark indices extended gains for the fourth straight session on Tuesday, 29 December 2009, on sustained buying demand for pivotals. The BSE 30-share Sensex was up 40.95 points or 0.24% to 17,401.56, its highest closing since 16 May 2008. The S&P CNX Nifty was up 9.55 points or 0.18% to 5187.95, its highest level since 5 May 2008.
As per provisional data on NSE, foreign funds sold shares worth Rs 53.73 crore and domestic funds bought shares worth Rs 3.19 crore on Tuesday, 29 December 2009.
DB Corp, JSW Energy Grey Market Premium
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| D.B. Corp. | 212 (For Retail Investor Rs. 210) | 26 to 28 |
| JSW Energy Ltd. | 100 (For Retail Investor Rs. 95) | 4 to 5.50 |
| Godrej Properties | 490 | 23 to 25 |
| MBL Infra | 165 to 180 | 9 to 11 |
IPO Listing Dates - DB Corp, JSW Energy, Godrej Properties
D. B. Corp. 6/7 January 2010
JSW Energy Ltd. 4th January 2010
Godrej Properties 4/5 January 2010
MBL Infra 5th January 2010
Sensex to open marginally lower
Headlines for the day
Ranbaxy transfers stake in Chinese JV to HNG Chembio: Economic Times
ONGC, Gail to take 12.5% stake in Chinese gas pipeline: Business Standard
Sterlite Energy to start Jharsuguda's first unit in 3 months: Business Standard
IPO scam: Compensation soon for retail investors: The Hindu Business Line
India, Japan to deepen economic ties: The Hindu Business Line
Events for the day
Major corporate action:
Listing of equity shares of Essar Securities Ltd (Listed only on BSE)
Pre-market report
Global signals
The European stocks continue its northbound journey on Tuesday as European shares at new 15-month closing high. FTSE 100 closed 0.65% higher at 5438.
The US markets closes on flat, as consumer confidence number improved in December but house prices were flat in October after five months of increases. Nasdaq 100 down 3 points to closed at 2288.
In today's trade, apart from Shanghai Composite and Jakarta composite all the other Asian indices trading in negative territory. At the time of writing this report, SGX Nifty trading lower by 6 points.
Indian markets
The domestic indices are expected to open lower and may remain volatile due to the negative global cues.
Among the local indices, the Nifty could test the 5220-5250 range on the up side, while on the down side it could find support at 5150 and 5100. While the Sensex is likely to get support at 17200 and may face resistance at 17494.
Indian ADR's
Among the Indian ADRs trading on the US bourses, among gainers Patni Computer surged the most with gains with 2.19%. On other hand Dr. Reddy fell the most with loss of 3.49%.
Commodity cues
In the commodity space, wherein the Crude oil prices reported marginal losses, with the Nymex light crude oil for February series decline by $0.01 to settle at $78.76 a barrel.
In the metals space, Comex Gold for February series sheds $9.80 to settle at $1098.10 to a troy ounce.
Daily trend of FII/MF investment in equities
On December 29, 2009, FIIs were the net buyers of the Indian Stocks in the tune of Rs811.30 crore (with the gross purchase of Rs1594.70 crore and gross sales of Rs783.40 crore).
While the Domestic mutual funds, on December 24, 2009, were the net buyers of the stocks in the tune of Rs144.50 crore (with gross purchase of Rs713.90 crore and gross sales of Rs569.40 crore).
DS Kulkarni Developers
Investors with a short-term trading perspective can buy D S Kulkarni Developers. This stock has been in a corrective mode since October 2009. This correction is, however, halting above the key support at Rs 65. The stock has bounced from this level thrice since the last week of November. It can turn out to be third time lucky this time and we expect the stock to rally to Rs 74 or Rs 77 in the near term.
The 10-day rate of change oscillator has moved just above the zero line, indicating that the short-term uptrend can sustain. Other momentum indicators in the daily chart are moving sideways, implying a neutral stance. Traders can buy the stock with a stop at Rs 65.6. Our short-term target for this stock is Rs 77.
via BL
Daily News Roundup - Dec 30 2009
ONGC and GAIL plan to take 12.5% stake in the US$2bn gas pipeline that China is building in Myanmar to transport natural gas from the Bay of Bengal. (BS)
Bharti Airtel is focusing more on the rural sector by offering various tailor made packages, as the segment contributed 50% of its new business. (BL)
Tata Motors commenced trial production of the first batch of the Nano at the new mother plant at the Sanand facility last week; commercial production of which will start from March onwards. (BS)
Ranbaxy Laboratories has exited its joint venture in China by selling its 83% stake in Ranbaxy (Guangzhou China) Ltd to HNG Chembio Pharmacy Co Ltd for an undisclosed sum. (BS)
NHPC has been allocated the job of preparing detailed project reports for the 670MW Chamkharchuu-I and 1,800MW Kuri-Gongri hydroelectric project in Bhutan. (FE)
HCL Infosystems bagged Rs1.1bn contract from the Gujarat government to install computer aided learning systems in 7,000 schools falling under tribal and education department in the state. (ET)
Coal supply to the captive power plant of NALCO was hit due to the outbreak of fire at the rapid loading system at the linked Bharatpur coal mine in Talcher Coalfields. (BS)
HDIL raised Rs4bn through allotment of debentures. (FE)
The NHAI has given a clean chit to Gammon India and Hyundai Engineering in the collapse of the Kota bridge over the Chambal river. (BS)
Tata Communications and China Telecom Corp will jointly build a 500km optical fiber cable network between India and China over the next 12 months. (BL)
Max New York Life Insurance is outsourcing customer service work to BPO firm Genpact, as part of an internal restructuring exercise. (ET)
The Maharashtra government is likely to intervene to settle the strike at the Aurangabad unit of Colgate-Palmolive. (BL)
The Diageo-Radico joint venture is likely to receive FIPB approval for inducting up to 100% FDI. (BL)
SCI plans to acquire three new container ships in 2010 and has set aside US$200-225mn to fund these purchases. (BS)
The government will sell 8.38% of its stake in the mining major NMDC before March 31, 2010, generating Rs14.1bn from the process. (BS)
The beleaguered Dabhol power project is set to achieve generation of 1,500MW by January ‘10 and a maximum generation of 1,950MW by April ‘10. (BS)
Vedanta group’s Sterlite Energy plans to commission the first phase of its Rs82bn Jharsuguda power plant in Orissa within three months, while the entire project is expected to be fully commissioned in the third quarter of the FY11. (BS)
Jindal Power Ltd, a part of Jindal Steel and Power Ltd, plans to raise Rs72bn from its IPO. (BS)
Thirteenth Finance Commission which suggests the formula for sharing of taxes between the Centre and states will be submitted to the President today. (ET)
The power ministry and the CEA have projected a total investment of Rs20bn for renovation and modernisation as well as extending the life span of various old power plants during 11th and 12th Five-Year Plans. (BS)
The Orissa government is mulling a special package for the sugarcane growers to encourage cultivation of the crop in the state. (BS)
The Maharashtra State Electricity Distribution Company has decided to introduce prepaid electricity meters for its consumers in the State. (BL)
CCEA gave more time to advance license holders, who imported duty-free raw sugar between September ‘04 and April ’08, till March 31, 2011 to meet their exports obligation. (ET)
Key central ministries that control the bulk of Plan expenditure have demanded from the Planning Commission an unprecedented 50-70% hike in outlays for 2010-11. (FE)
India and Japan agreed to wrap up talks on the proposed Comprehensive Economic Partnership Agreement by next year and simplify their visa regulations. (FE)
India and Russia plan to invest US$600mn to set up a joint venture to produce a medium lift transport aircraft for their armed forces. (FE)
Melody in the Market
The end of a melody is not its goal, and yet if a melody has not reached its end, it has not reached its goal.
The year 2009 may be reaching its end but the market melody, which has been music to the bulls’ ears, doesn’t seem to be stopping. Most global equity benchmarks have in recent days either crossed or are on the verge of surpassing the annual peaks. For India, the Nifty has already made a new high for 2009, while the Sensex is within striking distance of doing so. The BSE benchmark may just achieve the goal with two trading sessions still to go, and momentum being positive. However, global cues are pretty tepid. Tomorrow we will have the last F&O expiry of 2009. So, some more volatility is a given.
We expect a flat to cautious start and yet another low volume day. Non-index counters may continue to hog the limelight but don’t get carried away by the momentum in these shares. The Nifty will find it tough to crack 5200. Support is likely to kick in at around 5100. In case of a fresh bout of buying in the near term, the Nifty could reach 5350. It hit an intra-day high of 5225 yesterday.
FIIs were net sellers in the cash segment on Tuesday at Rs537.3mn on a provisional basis. The local funds were net buyers of just Rs31.9mn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs6.95bn. As per the SEBI figures, FIIs were net buyers of Rs8.11bn in the cash segment on Dec. 24. Mutual Funds were also net buyers at Rs1.44bn on the same day.
In the overseas markets, the euro and higher yielding currencies such as the Australian dollar were lifted against the US dollar after improved risk appetite. European equities extended their end-of-year rally for the sixth consecutive session though volumes were seasonally low. Japan's Nikkei 225 average eked out a four-month closing high.
Meanwhile, US employers see uptick in hiring in 2010 as compared to a dismal 2009. What's more, American consumers are more confident about that economy's prospects, according to Conference Board. Still, rising mortgage delinquencies signal more foreclosures, putting a damper on hopes that the housing market in the world's largest economy is recovering.
Copper prices reached a 15-month high in thin holiday trade amid concerns about supply disruptions as strikes affected production in Chile. Crude oil is hovering near $79 per barrel mark. The dollar index is trading slightly up at 78.03.
Inflation, interest rates, stimulus withdrawal and budget are the crucial factors that could have a major bearing on the market in the first quarter of the year 2010. One also has to see whether the liquidity tide that lifted all the boats in 2009 continues or tapers off.
US stocks closed nearly unchanged on Tuesday after yet another choppy session, as the Dow, S&P 500 and Nasdaq broke a six-session winning streak.
The Dow Jones Industrial Average closed at 10,545.41. The S&P 500 index ended at 1,126.19. The Nasdaq Composite index finished at 2,288.40.
US stocks had managed slim gains on Monday, with the Dow and S&P 500 ending at the highest levels since Oct. 1, 2008 and the Nasdaq closing at the highest point since Sept. 3, 2008.
Trading volume is expected to be light this week on Wall Street, with many market pros taking some or all of the holiday-shortened trading week off. All US financial markets are closed on Friday for New Year's Day and many participants will take an early leave early on Thursday ahead of New Year's Eve.
Year-to-date, the Dow has risen 20%, the S&P 500 has climbed 25% and the Nasdaq has gained 45%. All three indexes are up more substantially since falling to multi-year lows on March 9 amid the height of the financial crisis.
Next year is not expected to be as strong as 2009, as investors look for further evidence that the current economic growth can sustain without the government's emergency stimulus measures that managed to stave off another Great Depression.
In particular, investors will be looking for signs that housing market is improving, that consumers are spending again, and that the labor market is healing and enough jobs are being added to drive down the unemployment rate.
In the year 2010, investors will also be focused on when the Federal Reserve begins to raise short-term interest rates, and in what direction the beaten-down dollar moves. Overall, the market won't have a year like 2009. It will be a smoother ride, but the returns will be smaller.
In the day's major economic news, consumer confidence rose in December, the Conference Board reported Tuesday, hitting the highest point in three months thanks to a better outlook on jobs. Confidence rose to 52.9 from 50.6 previously. Economists thought it would rise to 53.
Separately, a report showed home prices flattened out in October after rising for four months in a row. The S&P/Case Shiller index of prices in the 20 largest metropolitan areas was unchanged in October from the previous month. Prices were down 7.3% from a year ago, versus analysts' forecasts for a drop of 7.1%.
COMEX gold for February delivery fell $9.80 to settle at $1,098.10 an ounce. Gold closed at an all-time high of $1,218.30 an ounce earlier this month.
US light crude oil for February delivery rose 10 cents to $78.87 a barrel on the New York Mercantile Exchange.
The dollar gained versus the euro and the yen.
Treasury prices rose, lowering the yield on the 10-year note to 3.80% from 3.84% late on Monday.
European stocks continued to advance amid thin volume, with the few traders taking part pushing the market to another 14-month high. The Dow Jones Stoxx 600 index rose 0.4% to close at 254.09, the highest close for the pan-European benchmark since early in October 2008.
The Stoxx 600 has climbed roughly 28% this year and moved more than 60% above the lows of March as the financial system has stabilised and as economies in the US and Europe have shown signs of expansion.
Germany's DAX rose 0.1% to end at 6,011.55, holding the 6,000 level for a second day, and the French CAC 40 added 0.3% to settle at 3,959.98. After a four-day hiatus, the UK's FTSE 100 gained 0.7% to close at 5,437.61.
Indian stocks closed marginally higher on Tuesday after yet another topsy-turvy day, as investors chose to remain on the sidelines with only two more trading sessions to go in what has been a stupendous year for equities.
All eyes are now on the new year and how the events will turn out. Though the worst appears to be over, thanks largely due to the emergency crisis-fighting stimulus measures, the recovery momentum needs to sustain.
The Government is fairly confident of attaining 7-8% GDP growth this year, but going ahead a spiraling inflation and its adverse fallout on the economy will have a bearing on the market sentiment. Earnings and the Budget will be the other big triggers.
Coming back to today's session, the day began on a firm footing, with the NSE Nifty touching a new high for the year early in the morning. However, shortly the key indices lost steam and hit the day's low.
The benchmarks made several attempts to head higher but encountered some resistance every time. The market fell sharply in the last half an hour or so after the Nifty had made a new intra-day high for 2009.
Finally, the BSE Sensex closed at 17,401.56, up 41 points or 0.2%. It had earlier touched a high of 17,486.05 and a low of 17,372.63. On the other hand, the Nifty shut shop at 5187.95, up about 10 points or 0.2%. It touched a high of 5214 during the day and a low of 5176.
The broader market outperformed the frontline counters, though they also gave up some of the gains in the late selloff. The BSE Small-Cap index and Mid-Cap index rose 1.2% and 0.5% to end at 8215 and 6674, respectively.
Among the BSE sectoral indices, Consumer Durables, Power and Metal indices were up 0.6-1%. BSE Banking, Capital Goods and PSU indices posted moderate gains. Pharma was a big loser after reports that top drugmakers will be asked to pay hefty sums for overcharging. IT and Realty shares were also soft.
Within the Sensex, the top gainers were Reliance Infra, Hindalco, ICICI Bank, Bharti Airtel, HDFC, NTPC and Tata Steel. The notable losers were Wipro, Sun Pharma, DLF, ONGC, TCS and HDFC Bank.
Outside the main indices, the big gainers were the likes of Titagarh Wagons, Apollo Hospitals, BL Kashyap, Texmaco, Time Techno, Ispat, Lok Housing, SREI Infra, Orbit Corp. Future Capital, Castrol India and SKF India.
Among the top losers included Great Offshore, Gammon India, Sasken, 3i Infotech, Amtek Auto, Dr. Reddy's, BGR Energy, GSK Pharma and Cipla.
Shares of Gammon India came under pressure after one of the company official was taken into policy custody following the collapse of an under construction bridge in Kota. The 50-metre bridge collapsed on Thursday and about 50 labourers were working at the scene.
Shares of NMDC Ltd. spurted after the public sector mining major said that the Government will disinvest 8.38% stake in it through a follow on public offer in the current financial year.
Max India shares climbed after Goldman Sachs agreed to pump in US$115mn in the company to fund insurance, healthcare and specialty plastics business.
Shares of Reliance Infrastructure gained after reports said that Reliance Power Transmission Ltd., a subsidiary of Reliance Infrastructure, has bagged two transmission projects worth Rs41bn connecting six states.
Shares of Sesa Goa rebounded after initial weakness after the Government raised the export duty on iron lumps from the current 5% to 10%, and also slapped a 5% export duty on iron ore fines.
In global markets, Asian stocks rose for a second day as higher oil and metal prices boosted commodity producers. The MSCI Asia Pacific Index rose 0.4% to 120.72 as of 7:19 p.m. in Tokyo, with about nine stocks advancing for every eight that declined. The gauge is headed for a 35% gain this year, its biggest annual increase since 2003.
Japan’s Nikkei 225 Stock Average, which rose to an intraday record of 38,957.44 on Dec. 29, 1989, increased less than 0.1% today to 10,638.06. Australia’s S&P/ASX 200 Index climbed 1.1% in Sydney, the steepest gain in the Asia- Pacific region. Hong Kong’s Hang Seng Index was little changed.
European stocks advanced for a sixth day, pushing the Dow Jones Stoxx 600 Index to the longest stretch of gains in three months, as higher commodity prices boosted raw-material producers. The Stoxx 600 added 0.1% to 253.53 as of 10:03 a.m. in London for the longest winning streak since Sept. 11. The gauge has surged 61% since March.
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