2010 Top Stock Buys, Dark Horses
What do the DP Readers suggest ? Read the 2010 Top Stock Picks ONLY HERE
India Equity Analysis, Reports, Recommendations, Stock Tips and more!
Search Now
Recommendations
Monday, January 04, 2010
2010 Top Stock Buys, Dark Horses
2010 Top Stock Buys, Dark Horses
What do the DP Readers suggest ? Read the 2010 Top Stock Picks ONLY HERE
Sensex ends higher on first day of 2010; ACC jumps
The first session of the year 2010 for Sensex ended on a higher note for the second successive day. The upmove was led by auto stocks, which continued to trade higher today on robust auto sales figures for the month of December followed by metal, consumer durables and FMCG stocks except oil & gas. Broader markets outperformed the benchmark index.
It was a cheerful start for the Indian equities and new extended timing. The index opened flat with a gain of 8.64 points, at 17,473.45 on Monday following positive Asian shares. It traded firm on select buying seen in index pivotals in the first half and further gained ground as European market opened positive and intense buying across all the sectors supported the indices to remain positive the entire session amid volatility. Finally, it close in green after touching a high of 17,582.84 and low of 17,378.38.
Secondline stocks traded also higher. BSE Midcap and Smallcap index 1.48% and 1.60% respectively.
On global front, European stocks rose as a report showed Chinese manufacturing grew the most in five years.
Asian stocks rose, extending the MSCI Asia Pacific Index`s biggest annual gain since 2003, after Chinese manufacturing grew and a stronger dollar boosted the outlook for Japanese car and electronics makers.
The Sensex ended the day with a gain of 93.92 points, or 0.54% at 17,558.73 after touching a high of 17,582.84 and a low of 17,378.38. The broad-based NSE Nifty climbed 31.15 points, or 0.60% at 5,232.20 after hitting a high of 5,238.45 and a low of 5,167.10.
Major gainers in the 30-share index were ACC (4.87%), Jaiprakash Associates (4.70%), Mahindra & Mahindra (4.52%), Tata Motors (4.39%), Reliance Capital (3.68%), and Grasim Industries (2.71%).
On the other hand, NTPC (1.65%), Reliance Industries (1.29%), Bharti Airtel (1.16%), Maruti Suzuki India (0.57%), Housing Development Finance Corporation (0.19%), and Hero Honda Motors (0.18%) were the top losers in the Sensex.
Overall market breadth was extremely positive. Out of the total 2,948 stocks traded at BSE, 2,132 advanced, 746 declined while 70 remained unchanged.
On sectoral front, BSE Auto which gained 1.88%, Metal climbed 1.82%, Consumer Durables gained 1.81%, FMCG climbed 1.11%, while BSE Oil & Gas went down 0.21%.
Market kicks off 2010 in style
Today's major news
Reliance Industries sells 2.50 crore treasury shares; the stock ends 1.29% lower
Mahindra & Mahindra total sales jump by 96.7% yoy in December 2009; the stock rises 4.52%
TVS Motors’ total sales increase by 34% yoy in December 2009; the stock jumps 9.59%
Dhampur Sugar Mills to consider fund raising; the stock surges 8.78%
Sanraa Media to consider bonus issue; the stock shoos up 9.09%
Click Here for more stories
Post-market summary
Global signals
European indices started 2010 on a positive note as banks and drug-makers’ scrips rise. At the time of writing this report FTSE 100 was up 0.65%.
Except Straits Times and Hang Seng, all other major Asian indices closed in green. SGX Nifty ended 11 points higher.
US stock futures opens with gain on the first trading day of the year.
Indian indices
The momentum witnessed in 2009 continued on the first trading day of the 2010 as the domestic indices ended the day higher. Despite positive signals from the global markets, the Sensex opened mere 9 points higher. However it gained strength as the session progressed. The low of the day was 17378, while the day’s high was 17558. Healthier auto sales numbers for December drove auto shares, while rising sugar prices sweetened the sugar stocks. The Sensex closed 94 points higher at 17465 and Nifty closed 31 points up at 5232.
Market sentiment
The number of advancing shares was almost thrice that of declining shares. Of the 2,948 stocks traded on the BSE, 2,132 stocks advanced, whereas 764 stocks declined. Seventy stocks closed unchanged
Sectoral & stock screening
Out of the 13 sector indices on the BSE, BSE Oil & Gas was the only index that fell, that also marginally. Among gainers, BSE Auto led the chart with gains of 1.88% followed by BSE Metal that surged 1.82% and BSE CD that rose by 1.81%.
The top three gaining stocks were Rashtriya Chemicals and Fertilisers (up by 11.56%), Chambal Fertilisers (up by 9.93%) and GTL Infrastructure (up by 7.51%). The top three losing stocks were Central bank of India (down by 4.10%), IRB Infrastructure (down by 2.82%) and Torrent Power (down by 2.16%).
Viewing volumes
India’s largest private sector company, Reliance Industries, was the most traded share with over 1.40 crore shares changing hands on the BSE followed by industrial finance company, IFCI (1.10 crore shares), Ispat Industries (1.05 crore shares), wind power major Suzlon Energy (0.65 crore shares), and GTL Infrastructure (0.26 crore shares).
BSE Bulk Deals to Watch - Jan 4 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
4/1/2010 504629 Anil Special SAMTUL INVESTMENTS LTD S 200000 14.50
4/1/2010 503940 Asian Elect SHAH INVESTMENTS FINANCIAL DEV & CON PRIVATE LIMIT S 185000 39.80
4/1/2010 530355 Asian Oilfield SARVAPRATHAM INVESTMENT LIMITED B 153000 65.25
4/1/2010 530355 Asian Oilfield GURJARI FINANCE & LEASING P LT S 163000 65.39
4/1/2010 505029 Atlas Cycle OPG SECURITIES P LTD B 37204 237.12
4/1/2010 505029 Atlas Cycle ANUJ JAIN B 150111 231.42
4/1/2010 505029 Atlas Cycle MANSUKH STOCKS BROKERS LTD. B 20973 233.87
4/1/2010 505029 Atlas Cycle ANAND KUMAR B 23582 236.50
4/1/2010 505029 Atlas Cycle OPG SECURITIES P LTD S 37204 236.62
4/1/2010 505029 Atlas Cycle ANUJ JAIN S 150111 229.57
4/1/2010 505029 Atlas Cycle MANSUKH STOCKS BROKERS LTD. S 20973 234.15
4/1/2010 505029 Atlas Cycle ANAND KUMAR S 23582 236.62
4/1/2010 531591 Bampsl Sec KAUSHALYA GARG B 384461 0.63
4/1/2010 531591 Bampsl Sec NARENDER GUPTA S 390954 0.63
4/1/2010 526666 Bhartiya Intl MERULAND INSURANCE SERVICES PRIVATE LIMITED B 49482 79.38
4/1/2010 526666 Bhartiya Intl MERULAND INSURANCE SERVICES PRIVATE LIMITED S 49482 78.11
4/1/2010 532123 BSEL Infra TOTAL NETWORK SOLUTIONS LTD S 427845 16.00
4/1/2010 531932 CG Impex VARSHABEN NAVINBHAI SONI S 39184 6.19
4/1/2010 508860 Diamant Invest KALPANA MADHANI SECURITIES PVT. LTD. B 6000 150.70
4/1/2010 508860 Diamant Invest NARESH MANEKCHAND JAIN S 23303 143.83
4/1/2010 517973 DMC Intl NAVDEEP GUPTA B 64100 25.58
4/1/2010 517973 DMC Intl CENTENARY SOFTWARE PVT LTD B 103742 25.60
4/1/2010 517973 DMC Intl KAPIL GUPTA B 54595 25.72
4/1/2010 517973 DMC Intl HARISH GUPTA S 78200 25.46
4/1/2010 517973 DMC Intl CENTENARY SOFTWARE PVT LTD S 103184 25.75
4/1/2010 517973 DMC Intl KAPIL GUPTA S 54595 25.75
4/1/2010 530337 Exelon Infra KAMALA KANTA GUPTA B 168810 57.22
4/1/2010 530337 Exelon Infra AMIT SARAOGI B 25000 58.50
4/1/2010 530337 Exelon Infra ASHLESH GUNVANTBHAI SHAH B 25000 58.55
4/1/2010 530337 Exelon Infra PARESH RAMJIBHAI CHAUHAN B 25000 58.75
4/1/2010 530337 Exelon Infra KAMALA KANTA GUPTA S 44601 58.49
4/1/2010 530337 Exelon Infra AMIT SARAOGI S 51064 56.89
4/1/2010 530337 Exelon Infra OMPARKASH GUPTA S 22779 57.52
4/1/2010 530337 Exelon Infra I K PROJECTS PRIVATE LIMITED S 93000 56.50
4/1/2010 530337 Exelon Infra GANESH KUMAR DHANUKA S 25914 57.15
4/1/2010 530337 Exelon Infra OMPRAKASH S RUIA S 25500 58.74
4/1/2010 530337 Exelon Infra GOPAL OMPRAKASH RUIA S 27350 58.58
4/1/2010 532666 FCS Software REGENT FINANCE CORPORATION PVT. LTD. B 1697339 15.87
4/1/2010 532666 FCS Software REGENT FINANCE CORPORATION PVT. LTD. S 1697339 15.84
4/1/2010 532666 FCS Software INNOVA E SERVICES PRIVATE LIMI S 2100000 15.51
4/1/2010 532022 Filatex Fash MUKESH DHIRAJLAL MAHETALIA B 35516 14.96
4/1/2010 532139 G Tech Info PUNARVASU ENTERPRISES PRIVATE LIMITED B 700000 3.41
4/1/2010 532139 G Tech Info SHIRIN MUNIR GAZI S 500000 3.41
4/1/2010 532139 G Tech Info MUNIR ABDULLATIF GAZI S 500000 3.41
4/1/2010 523277 GV Films RAMACHANDRAN V B 2000000 2.15
4/1/2010 523277 GV Films N JAYAKUMAR NATARAJAN B 2000000 2.15
4/1/2010 523277 GV Films MAHADEVAN GANESH S 6575000 2.15
4/1/2010 590043 Harita Seat MAHESH DHANVANTRAI MEHTA B 20700 78.70
4/1/2010 590043 Harita Seat PRIYAD THAKKAR S 20695 78.70
4/1/2010 523467 Jai Mata Glass GROWMORE PROPERTIES PVT LTD S 244598 2.69
4/1/2010 522259 Kalindi Rail MBL & Co. LTD. B 65037 222.77
4/1/2010 522259 Kalindi Rail OPG SECURITIES P LTD B 97203 224.43
4/1/2010 522259 Kalindi Rail MBL & Co. LTD. S 65037 222.33
4/1/2010 522259 Kalindi Rail OPG SECURITIES P LTD S 97203 224.46
4/1/2010 530255 KAY Power KAUSHALYA GARG B 60750 12.07
4/1/2010 530255 KAY Power KAUSHALYA GARG S 90000 12.19
4/1/2010 505190 Kinetic Motor KINETIC ENGINEERING LTD S 200000 21.95
4/1/2010 532829 Lawreshwar Poly ASHOK KUMAR BILGAIYAN S 115910 8.05
4/1/2010 531515 Mahan Inds YOGENDRA KUMAR GUPTA S 100000 27.45
4/1/2010 532950 Manjushree Techno SECURITIES VSL S 75000 48.85
4/1/2010 590111 MASTER PUNIT KAPOOR B 29834 71.34
4/1/2010 590111 MASTER V MANIKYALA RAO S 26750 71.31
4/1/2010 526642 Mirza Intl ABHISHEK VIJAYKUMAR SHAH B 911302 17.10
4/1/2010 526642 Mirza Intl CALEDONIA INVESTMENTS PLC S 968550 16.89
4/1/2010 519560 Neha Intl JAYATI FINANCE INV.PVT LTD B 500000 65.25
4/1/2010 519560 Neha Intl VINOD REDDY GADDAM S 300000 65.25
4/1/2010 519560 Neha Intl AJMERA SHARES TRADING PVT LTD S 210385 65.18
4/1/2010 532045 Nexxoft Info C GEETHA B 50225 21.22
4/1/2010 532045 Nexxoft Info Y RAVI PRASAD S 50000 21.23
4/1/2010 531496 Omkar Overseas PINABEN PRAKASHKUMAR SHETH S 25000 44.15
4/1/2010 532944 Onmobile Global OPG SECURITIES P LTD B 414582 489.84
4/1/2010 532944 Onmobile Global OPG SECURITIES P LTD S 414582 490.32
4/1/2010 523483 Pacific Inds AMIT BUSINESS LTD B 10000 317.87
4/1/2010 523483 Pacific Inds ASHOKA FINSTOCK LTD B 8100 308.65
4/1/2010 523483 Pacific Inds ASHOKA FINSTOCK LTD S 8100 317.82
4/1/2010 532606 Parekh Alum DIMPLE OBEROI HUF S 88176 161.42
4/1/2010 511702 Parsharti Inv KRUPA SANJAY SONI B 27208 34.54
4/1/2010 511702 Parsharti Inv SHEETAL PINKESH CHITTALIYA B 25000 34.50
4/1/2010 511702 Parsharti Inv KRUPA SANJAY SONI S 18148 34.54
4/1/2010 526381 Patel Integ AUM SECURITIES PVT. LTD B 120761 33.63
4/1/2010 526588 Photoquip India JINALBEN BHAVIKBHAI VORA S 25068 37.80
4/1/2010 531273 Radhe Dev CHAMPAKLAL JETHALAL SHAH B 1600000 7.08
4/1/2010 531273 Radhe Dev CHAMPAKLAL JETHALAL SHAH S 1600000 7.10
4/1/2010 507300 Ravalgaon Sugar RAHUL DOSHI B 517 9613.41
4/1/2010 533083 RISHABHDEV MAHESH MEETAL B 255996 18.12
4/1/2010 533083 RISHABHDEV SARSWATI VINCOM LTD B 200000 18.00
4/1/2010 533083 RISHABHDEV MAHESH MEETAL S 255996 17.97
4/1/2010 533083 RISHABHDEV CREDO INDIA THEMATIC FUND LIMITED S 500000 18.01
4/1/2010 533083 RISHABHDEV SARSWATI VINCOM LTD S 200000 17.73
4/1/2010 531099 Rubra Med CHANDRAKANT B SHAH B 30500 20.05
4/1/2010 509020 Ruchi Infra JAYATI FINANCE INV.PVT LTD S 2000000 44.75
4/1/2010 506172 Sampada Chem KOPRAN LABORATORIES LTD S 95000 60.30
4/1/2010 521206 Samtex Fashions KINOFOLK INDUSTRIES LTD. B 84233 38.93
4/1/2010 526479 SKY Inds PARSHAV INVESTMENT SERVICES PVT. LTD. B 20000 114.87
4/1/2010 526479 SKY Inds V R M SHARE BROKING PRIVATE LIMITED B 100000 114.99
4/1/2010 526479 SKY Inds HINA VIJAYKUMAR VORA S 22350 115.00
4/1/2010 530595 Telecanor Glob ASHLESH GUNVANTBHAI SHAH B 33000 24.95
4/1/2010 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. B 138767 340.57
4/1/2010 533121 THINKSOFT MATRIX EQUITRADE PVT. LTD. B 60495 341.77
4/1/2010 533121 THINKSOFT OPG SECURITIES P LTD B 103566 341.73
4/1/2010 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. S 138767 340.10
4/1/2010 533121 THINKSOFT MATRIX EQUITRADE PVT. LTD. S 60495 341.91
4/1/2010 533121 THINKSOFT OPG SECURITIES P LTD S 103566 341.74
4/1/2010 504966 Tinplate Co TRANSGLOBAL SECURITIES LTD. B 524308 93.07
4/1/2010 504966 Tinplate Co TRANSGLOBAL SECURITIES LTD. S 524208 93.03
4/1/2010 531874 Venus Ventures ANITHA YARLAGADDA S 49166 12.06
4/1/2010 531874 Venus Ventures PRAKASH KUMAR DEVSHILAL SHETH S 30000 11.93
4/1/2010 530477 Vikram Thermo THAKER SINGH B 10754 21.22
4/1/2010 530583 Vogue Textiles DEEPAK KUMAR JAIN B 40000 4.23
4/1/2010 530583 Vogue Textiles ABHA SHARE TRADING PVT.LTD. S 39000 4.23
4/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR B 22392 365.16
4/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR S 26225 364.56
4/1/2010 526586 Wim Plast SAINATH HERBAL CARE MARKETING P.LTD S 44386 170.11
4/1/2010 500095 Wyeth RELIANCE MUTUAL FUND A/C RELIANCE LONG TERM EQUITY FUND S 203000 745.12
NSE Bulk Deals to Watch - Jan 4 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
04-JAN-2010,AFTEK,Aftek Limited,JMP SECURITIES PVT LTD,BUY,631707,19.58,-
04-JAN-2010,APCOTEXIND,Apcotex Industries Ltd.,APCOTEX INDUSTRIES LTD,BUY,164659,89.50,-
04-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,21693,233.77,-
04-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,ANJU JAIN,BUY,146485,230.08,-
04-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,BP FINTRADE PRIVATE LIMITED,BUY,18490,240.23,-
04-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,MANSUKH SECURITIES & FINANCE LIMITED,BUY,22793,232.68,-
04-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,OM INVESTMENTS,BUY,16575,240.88,-
04-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,OPG SECURITIES PVT. LTD.,BUY,26507,234.24,-
04-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,STANDARD SECURITIES & INVESTMENT INTERMEDIATES LIMITED,BUY,25446,235.92,-
04-JAN-2010,EDSERV,Edserv Softsystems Limite,BP FINTRADE PRIVATE LIMITED,BUY,50809,259.52,-
04-JAN-2010,EVINIX,Evinix Accessories Limite,HI-GROWTH CORPORATE SERVICES PVT. LTD.,BUY,617970,4.31,-
04-JAN-2010,FCSSOFT,FCS Software Solutions Li,AANGI SHARES & SERVICES PVT. LTD,BUY,1516000,15.50,-
04-JAN-2010,FCSSOFT,FCS Software Solutions Li,PATEL PRAKASHBHAI NARSINHBHAI,BUY,2036194,15.51,-
04-JAN-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,BUY,11851284,22.56,-
04-JAN-2010,KALINDEE,Kalindee Rail Nirman (Eng,MBL & COMPANY LTD.,BUY,100159,222.33,-
04-JAN-2010,KAUSHALYA,Kaushalya Infrastructure,RAHUL DOSHI,BUY,175368,24.14,-
04-JAN-2010,ONMOBILE,OnMobile Global Limited,OPPERHEIMER A/C 89 SMALL CO,BUY,430000,518.31,-
04-JAN-2010,PARAL,Parekh Aluminex Limited,DIMPLE OBEROI HUF,BUY,79096,161.16,-
04-JAN-2010,SELMCL,SEL Manufacturing Company,NIKON FINLEASE PVT. LTD,BUY,119426,84.99,-
04-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,142722,340.10,-
04-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,BP FINTRADE PRIVATE LIMITED,BUY,107031,345.59,-
04-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,PRASHANT JAYANTILAL PATEL,BUY,125309,342.79,-
04-JAN-2010,TINPLATE,THE TINPLATE CO. (I) LTD,TRANSGLOBAL SECURITIES LTD.,BUY,558496,92.93,-
04-JAN-2010,ZANDUPHARM,Zandu Pharma works Ltd,EMAMI INFRASTRUCTURE LIMITED,BUY,29,5865.34,-
04-JAN-2010,ZENSARTECH,Zensar Technologies -Depo,RPG CELLULAR INVESTMENTS & HOL.P.LTD,BUY,430000,331.43,-
04-JAN-2010,AFTEK,Aftek Limited,JMP SECURITIES PVT LTD,SELL,550707,19.64,-
04-JAN-2010,APCOTEXIND,Apcotex Industries Ltd.,LANDMARK CAPITAL MARKETS LTD,SELL,166666,89.50,-
04-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,21693,233.99,-
04-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,ANJU JAIN,SELL,146485,229.33,-
04-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,BP FINTRADE PRIVATE LIMITED,SELL,16990,240.59,-
04-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,MANSUKH SECURITIES & FINANCE LIMITED,SELL,22793,233.23,-
04-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,OM INVESTMENTS,SELL,16575,241.27,-
04-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,OPG SECURITIES PVT. LTD.,SELL,26507,235.35,-
04-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,STANDARD SECURITIES & INVESTMENT INTERMEDIATES LIMITED,SELL,25446,236.14,-
04-JAN-2010,BSELINFRA,BSEL Infrastructure Realt,TOTAL NETWORK SOLUTIONS LTD,SELL,610000,16.00,-
04-JAN-2010,EDSERV,Edserv Softsystems Limite,BP FINTRADE PRIVATE LIMITED,SELL,64244,257.13,-
04-JAN-2010,EVINIX,Evinix Accessories Limite,HI-GROWTH CORPORATE SERVICES PVT. LTD.,SELL,590190,4.35,-
04-JAN-2010,FCSSOFT,FCS Software Solutions Li,AANGI SHARES & SERVICES PVT. LTD,SELL,1516000,15.73,-
04-JAN-2010,FCSSOFT,FCS Software Solutions Li,INNOVA E SERVICES PRIVATE LIMI,SELL,5350000,15.50,-
04-JAN-2010,FCSSOFT,FCS Software Solutions Li,PATEL PRAKASHBHAI NARSINHBHAI,SELL,2036194,15.80,-
04-JAN-2010,HSIL,HSIL LIMITED,YAMUNA VYAPAR PRIVATE LIMITED,SELL,290000,78.98,-
04-JAN-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,12051313,22.52,-
04-JAN-2010,JSWENERGY,JSW Energy Limited,ICICI BANK LTD. (TRADING),SELL,9300000,100.03,-
04-JAN-2010,KALINDEE,Kalindee Rail Nirman (Eng,MBL & COMPANY LTD.,SELL,100159,222.86,-
04-JAN-2010,KAUSHALYA,Kaushalya Infrastructure,RAHUL DOSHI,SELL,150016,24.19,-
04-JAN-2010,KINETICMOT,Kinetic Motor Company Ltd,KINETIC ENGINEERING LTD,SELL,180000,22.00,-
04-JAN-2010,MAYTASINFR,Maytas Infra Limited,CLSA (MAURITIUS) LIMITED,SELL,619331,168.00,-
04-JAN-2010,PARAL,Parekh Aluminex Limited,DIMPLE OBEROI HUF,SELL,121500,161.83,-
04-JAN-2010,SELMCL,SEL Manufacturing Company,NIKON FINLEASE PVT. LTD,SELL,119426,85.26,-
04-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,142725,340.91,-
04-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,BP FINTRADE PRIVATE LIMITED,SELL,103731,344.61,-
04-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,PRASHANT JAYANTILAL PATEL,SELL,125309,343.12,-
04-JAN-2010,TINPLATE,THE TINPLATE CO. (I) LTD,TRANSGLOBAL SECURITIES LTD.,SELL,558496,93.10,-
04-JAN-2010,WYETH,Wyeth Limited,RELIANCE MUTUAL FUND A/C RELIANCE LONG TERM EQUITY FUND,SELL,204737,745.20,-
04-JAN-2010,ZANDUPHARM,Zandu Pharma works Ltd,EMAMI INFRASTRUCTURE LIMITED,SELL,4608,5869.62,-
04-JAN-2010,ZENSARTECH,Zensar Technologies -Depo,PEDRIANO INVESTMENTS LTD,SELL,430000,331.38,-
Asian Markets Starts Year With A Bang
Sensex, Seoul, Sydney advances while Shanghai, Hang Seng post losses
Stock markets in Asian region entered 2010 with enduring optimism, finishing Monday, 4 January 2010 higher, as investors indulge in buying activity after Chinese manufacturing showed some expansion in December and a stronger dollar boosted the earnings outlook for Japanese car and electronics manufacturers.
On Wall Street, stock markets were closed on Friday for New Year holiday.
In the commodity market, crude oil rose for an eighth day in New York on optimism fuel demand will increase amid freezing temperatures and improved prospects for an economic recovery in the U.S., the biggest energy consumer.
Crude oil for February delivery rose as much as 88 cents, or 1.1%, to $80.24 a barrel in electronic trading on the New York Mercantile Exchange. The contract was at $80 at 3:50 p.m. Singapore time.
Brent crude oil for February settlement rose as much as 93 cents, or 1.2%, to $78.86 a barrel on the London-based ICE Futures Europe exchange. It was at $78.55 at 3:50 p.m. Singapore time.
Gold advanced for a third day after swinging between gains and losses as the metal’s biggest monthly drop since October 2008 helped draw investors. Gold for immediate delivery, which touched an all-time high of $1,226.56 an ounce last month, jumped 0.6% to $1,103.43 at 1:53 p.m. in Singapore. The metal earlier fell as much as 0.4% to $1,093.42 an ounce. Gold for February delivery in New York rose 0.7%.
In the currency market, the US dollar rose against other major currencies in Asian trade on Monday, supported by growing optimism about prospects for the world's largest economy.
The Japanese yen traded near to four month low against greenback as sign the US economic recovery is cementing. Japan’s currency was quoted at 92.95 yen today in Asian deal from Friday’s quote at 93.02 yen per dollar in New York.
The Hong Kong dollar was trading at HK$ 7.7574 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 closed slightly firmer as firm equity markets in Asia underpinned the local currency. At the local close, the Australian dollar was trading at $US0.8978, up from Thursday’s close of $US0.8968. During the day, the local unit traded between $US0.8940 and $US0.8998. The local currency market was closed for the New Year public holiday on Friday.
In Wellington, the markets were closed for holiday.
The South Korean won ended at 1,154.80 won against the dollar, up 9.70 won from Wednesday's close, as offshore investors raised their holding of local stocks.
The Taiwan dollar strengthened further against the greenback. The Taiwan dollar was trading higher against the US dollar at NT$ 31.8320, 0.1980 up from Thursday’s close of NT$32.0300
In equities, most of the major Asian markets kicked off 2010 on a positive note Monday as strong manufacturing data from China and India helped support hopes for continued economic recovery.
In Japan, the share market kicked off 2010 on a positive note, with broad based gains across major sector heavyweights, buoyed by strong Chinese December manufacturing reports and softening yen against greenback to nearly 93 yen level. At the closing bell, the Nikkei 225 Stock Average index was at 10,654.79, advanced 108.35 points or 1.03% from Thursday’s close, while the broader Topix of all First Section issues on the Tokyo Stock Exchange grew 8.16 points, or 0.9%, to 915.75.
In the economic news, the Finance Ministry said Japan's general account tax revenues in November fell 25.6% from a year earlier to 5,297.14 billion yen with declines in most tax categories.
In Mainland China, the share market stumbled at the end of Monday’s trading session, snapping four days of winning streak, on rekindled worries about country’s inflation pressure. Materials and resources and energy shares traded lower on profit taking on cautious recent rally were overcooked. Financials were sluggish with steep sell off in properties and banks on concern the China will step up more measures to curb property speculation after the government tightened tax and mortgage rules.
At the closing bell, the Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, fell 1.02%, to 3,243.76, meanwhile the Shenzhen Component Index on the smaller Shenzhen Stock Exchange shed 1.21% to 13,533.54. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, has lost 0.46%, to 3,559.41.
On the economic front, the China Federation of Logistics and Purchasing (CFLP) said the Purchasing Managers' Index of China's manufacturing sector stood at 56.6% in December, 1.4% higher than that for November. It was the 10th straight month that the data stayed above 50, which indicated expansion. A reading below 50 signaled contraction.
In Hong Kong, share market ended the first trading session of the year 2010 slightly below the gains line, as investors continued to offload the stocks on concerns last year 52% index gains turns valuation stretched as compared earning and on cautious that US interest rates might rise sooner than expected after strengthening US job data and as Federal Reserve Chairman Ben Bernanke cracked the door open a bit more to the idea of raising interest rates if a new financial bubble emerges.
At the closing bell, the Hang Seng Index melted 49.22 points, or 0.23%, to 21,823.28, meanwhile the Hang Seng China Enterprise, which tracks the overall performance of 43 mainland Chinese state-owned enterprises on the Hong Kong Stock Exchange, dived 43.58 points, or 0.34%, to 12,750.55.
In Australia, the markets ended the 2010 first trading day slightly higher, driven by major madcap stocks as new money coming into the market. Energy shares spurted as crude oil prices were nearby $80 a barrel in Asian deal amid expectations the oil price will continue to improve this year. The materials and resources were steady after Chinese manufacturing grew. Financial stocks ended edged lower. Consumer related stocks closed in diverse terrain ahead of this week’s November retail trade numbers.
At the closing bell, the benchmark S&P/ASX200 index spurted 5.70 points, or 0.12%, to 4,876.30, meanwhile the broader All Ordinaries surged 7.10 points, or 0.15%, to 4,889.8.
In New Zealand, stock markets were closed for holiday.
In South Korea, stocks closed higher the first trading day of 2010, as investors snapped up tech and brokerage shares. After range-bound trading, the benchmark Korea Composite Stock Price Index (KOSPI) gained 13.37 points to 1,696.14. Foreign investors continued to scoop up local stocks, supporting the key index on the first trading session of the New Year.
In Singapore, the share market ended the year 2010 first trading session with marginal losses, after government said Singapore’s gross domestic product contracted by a seasonally adjusted 6.8% in the fourth quarter of 2009 as compared the 2.1% fall in the third quarter because weaker manufacturing output interrupted the island’s recovery from its deepest recession since independence in 1965. At the closing, the blue chip Straits Times Index was at 2,896.55, erased 3.07 points or 0.11%, off an intraday high of 2,896.68 and off an intraday low of 2,886.43.
In Taiwan, stock market in Taiwan extended its winning streak for third straight session, attaining a new nineteen month high, as investors shift focus from blue chip technology stocks to tradition industries like steel and construction. The investors also cheered on the news of formation of China Securities Index Company. The benchmark Taiex share index attained a new nineteen month high, by ending the day higher by 19.74 points or 0.24% at 8207.85 - the highest closing since 18 June 2008 when market finished the day at 8217.58.
On the economic front, Markit Economics reported that the Taiwan HSBC Manufacturing Purchasing Manager’s Index stood at a seasonally adjusted 58.7 in December, up from 58.4 in the previous month. A reading above 50 indicates expansion, while one below 50 suggests contraction.
Manufacturing output continued to rise in December led by a sharp increase in new order volumes. Incoming new business levels rose for the ninth successive month, reflecting the ongoing recovery in global economic conditions. Employment in the manufacturing sector increased at its fastest pace in twenty-three months, as manufacturers aimed to boost production capacity.
In Philippines, equities failed to hold on after a mixed opening and slid lower throughout the day. The investors continued to offload the stocks on the first session of the year even as the rest of the Asia nudged higher as the broad retreat witnessed in the market in the month of December extended further. At the concluding bell, the benchmark index PSEi lost 1.56% or 47.67 points to 3,005.01, while the All Shares index tumbled 1.13% or 21.78 points to 1,896.86.
In India, stocks kicked off 2010 on an upbeat note, with key benchmark indices hitting their highest level in 20 months as strong auto sales, a jump in manufacturing activity in December 2009, and the latest data showing a surge in exports in November 2009, underpinned sentiment. The BSE 30-share Sensex was up 93.92 points or 0.54% to 17,558.73. The Sensex gained 118.03 points at the day's high of 17,582.84 in mid-afternoon trade, its highest level since 5 May 2008. The S&P CNX Nifty was up 31.15 points or 0.60% at 5232.20. It hit a high of 5238.45, its highest level since 5 May 2008.
Elsewhere, Malaysia’s Kula Lumpur Composite index finished slightly higher at 1275.75 while stock markets in Indonesia’s Jakarta Composite index inched up 41.06 points ending the day higher at 2575.41.
In other regional market, European stocks started the New Year with gains on Monday, helped by a wave of deal activity, data indicating strong growth out of China and speeches from Federal Reserve officials hinting of no rate hike on the horizon. The German DAX rose 0.8% or 51.16 points to 6,009.05 to recapture the 6,000 mark, the French CAC 40 rose 1% or 40.10 points to 3,976 and the U.K. FTSE 100 added 0.6% or 34.10 points to 5,443.97.
Nifty attains highest closing level in 22 months
Indian stocks kicked off 2010 on an upbeat note, with key benchmark indices hitting multi-months high as strong auto sales, a jump in manufacturing activity in December 2009, and the latest data showing a surge in exports in November 2009, underpinned sentiment. The BSE 30-share Sensex rose 93.92 points or 0.54%, up close 185 points from the day's low and off close to 25 points from the day's high.
The Sensex struck its highest closing level in 20 months. The 50-unit S&P CNX Nifty attained its highest closing level in 22 months. Global stocks were firm and US index futures surged.
Index heavyweight Reliance Industries (RIL) recovered from lower level on market talks the company has raised Rs 2600 crore by selling 2.5 crore shares at Rs 1,035 each to state-run Life Insurance Corporation of India. Auto stocks also surged after auto firms posted strong December 2009 sales growth. IT, cement, banking, metal and consumer durables stocks also rose. The market breadth was strong.
The market rebounded soon after an initial slide on firm Asian stocks. The market was range bound in early morning trade. The market trimmed gains after hitting fresh intraday highs in morning trade. The market surged to a fresh intraday high in mid-afternoon trade as European stocks surged in early trade. The market pared gains before bouncing back in late trade.
Trading began at 9:00 IST today, 4 January 2010 as the stock exchanges decided to extend trading hours by 55 minutes.
The economy is expected to grow at more than 7.5% in the fiscal year ending March 2010, boosted by better growth in the December 2009 quarter, the finance ministry's chief economic advisor Kaushik Basu said on Monday. The government is not expected to announce any monetary tightening measures for now, he added. "There is no expectation of monetary tightening, nor do I believe there is a reason for it," Basu said." It is a very sector-specific inflation which is taking place," he said, adding, inflation is expected to "peter out" in a few months he added.
Meanwhile, the latest data showed that the rate of growth in manufacturing rose for the first time in three months in December 2009, with activity reaching its highest since May 2009 on sharp rises in new work and output. The HSBC Markit Purchasing Managers' Index (PMI), based on a survey of 500 companies, rose to 55.6 in December from 53.0 in November. The reading was the strongest since May's 55.7, which was the strongest in 2009. A reading above 50 means activity expanded during the month.
The Reserve Bank of India (RBI) will review interest rates at its next policy review scheduled for 29 January 2010 and not before, K.C. Chakrabarty,a deputy RBI governor said on Thursday, 31 December 2009. He further said credit growth will rise to 17-18% when GDP growth reaches 8-9%.
Finance Minister Pranab Mukherjee said on 30 December 2009 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.
Recently C. Rangarajan, Chairman of the Economic Advisory Council to the Prime Minister, raised concern over 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 economy will expand 8% in 2010/11 after growing between 7 and 7.5% in the current fiscal year to end-March, Rangarajan said on Saturday, 2 January 2010. Rangarajan also said the economy would return to an annual growth rate of 9% in the fiscal year to end-March 2012 on the back of an improvement in the world economy and global trade.
Food price index rose 19.83% in the 12 months to 19 December 2009, data released by the government showed on 31 December 2009, showed. The primary article index jumped 15.49% and the fuel price index rose 4.45%. The worst monsoon in nearly four decades and flooding in some parts of the country have pushed up food prices.
Meanwhile, India's exports sector has bounced back with outward trade growing by 18% in November 2009, the commerce ministry said. The export figures turned positive after staying in the red for 13 months. The value of exports in November 2009 jumped to $13.19 billion compared to $11.16 billion.
Data earlier this month 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.
European shares rose on Monday on the first session of the year, extending last year's strong run, with banks, oil producers and drugmakers leading the gainers. The key benchmark indices in France, Germany and UK rose by between 0.62% to 1.03%.
The purchasing managers index for the euro-zone manufacturing sector rose to a 21-month high of 51.6 in December 2009 from a reading of 51.2 in November 2009.
Activity in Britain's factory sector showed a stronger-than-expected rise in December 2009, pushing the manufacturing purchasing managers index to its highest level in 25 months, according to data released Monday. The CIPS/Markit PMI jumped to 54.1 from a reading of 51.8 in November.
Most Asian stocks rose on Monday, 4 January 2010, after Chinese manufacturing expanded in December 2009 and a stronger dollar boosted the earnings outlook for Japanese car and electronics manufacturers. The key benchmark indices in Indonesia, Japan, Taiwan and South Korea rose by between 0.24% to 1.03%. But the key benchmark indices in Hong Kong and Singapore fell by between 0.11% to 0.23%.
Chinese stocks retreated on concerns about rising inflation on the mainland and as investors locked in gains after a four-session rally. The Shanghai Composite was down 1%, after tacking on more than 4% in the previous four sessions. Chinese manufacturing activity climbed for the ninth straight month in December 2009, according to the HSBC purchasing managers' index released Monday, with overall conditions during the December-ended quarter the most robust in the survey's six-year history. The index climbed to 56.1 for the month, compared to 55.7 in November. Measures for labor demand and new orders also suggested a broad-based revival of activity.
South Korean exports increased 33.7% in December from a year earlier, the fastest pace in 17 months, the Ministry of Knowledge Economy said on 1 January 2010.
Singapore's economy shrank for the first time in three quarters. Gross domestic product contracted an annualized 6.8% in the fourth quarter to December from the previous three months after climbing a revised 14.9 % from July to September, the trade ministry said in a statement today.
Trading in US index futures indicated Dow could gain 61 points at the opening bell on Monday, 4 January 2010.
US stocks edged lower on the last trading session of 2009 on Thursday, 31 December 2009. The Dow Jones industrial average fell 120.46 points, or 1.14 % to end at 10,428.05. The Standard & Poor's 500 Index declined 11.32 points, or 1%, to finish at 1,115.10. The Nasdaq Composite Index lost 22.13 points, or 0.97 %, to close at 2,269.15. US markets remained close on Friday, 1 January 2010 on New Year's holiday.
For 2009, US stocks registered their first annual advance in two years, underpinned by strength in technology and natural resource shares on bets that the recovery will brighten the profit outlook.
Top US Federal Reserve officials defended policies leading up to the recent financial crisis, arguing that exotic mortgages and overconfidence in home price gains, not low interest rates, fueled a catastrophic housing bubble. Addressing an economists' conference in Atlanta on Sunday, 3 January 2010, Fed Chairman Ben Bernanke said the US economy is only now recovering from recession, and Fed Vice Chairman Donald Kohn warned the pace of recovery will be slow. This means inflation will remain contained for some time, Kohn said
Bernanke repeated his expression of confidence the Fed is equipped to tap the brakes at the right time. "We have a very robust strategy," he said in response to questions after his speech. "It includes both raising the interest rate that we pay on reserves, plus a number of measures that we have been testing that will allow us to drain reserves from the system. So we're quite confident that we can constrain broader money growth and credit growth as needed to exit from these unusual policies when the time comes," he said.
Kohn said the Fed would have to begin pulling back, however, before things were completely back to normal. "We will need to begin withdrawing extraordinary monetary stimulus well before the economy returns to high levels of resource utilization," he said.
Closer home, the BSE 30-share Sensex rose 93.92 points or 0.54% to 17,558.73, its highest closing since 2 May 2008. The Sensex gained 118.03 points at the day's high of 17,582.84 in mid-afternoon trade. The Sensex fell 86.43 points at the day's low of 17378.38 in early trade.
The S&P CNX Nifty rose 31.15 points or 0.6% at 5232.20, its highest closing since 28 February 2008. It hit a high of 5238.45 in intraday trade. Nifty January 2010 futures were at 5,243, at a premium of 10.50 points as compared to the spot closing of 5,232.20. Turnover in NSE's futures & options (F&O) segment was Rs 42,559.47 crore, sharply lower than Rs 105421.96 crore on Thursday, 31 December 2009.
BSE clocked a turnover of Rs 6198 crore, much higher than Rs 4618 crore on Thursday 31 December 2009.
The market breadth, indicating the overall health of the market was strong. On BSE, 2126 shares advanced as compared with 752 that declined. A total of 71 shares remained unchanged.
Among the 30-member Sensex pack, 23 rose while rest declined.
The BSE Mid-Cap index rose 1.48% and the BSE Small-Cap index rose 1.6%. Both the indices outperformed the Sensex.
Among the sectoral indices on BSE, the BSE Auto index (up 1.88%), the BSE Metal index (up 1.82%), the BSE Consumer Durables index (up 1.81%), the BSE FMCG index (up 1.11%), BSE's banking sector index Bankex (up 0.77%), the BSE Capital Goods index (up 0.72%) and the BSE IT index (up 0.69%), outperformed the Sensex
BSE Power index (up 0.53%), BSE Realty index (up 0.39%), BSE Health Care index (up 0.09%) and BSE Oil & Gas index (down 0.21%), underperformed the Sensex.
A deluge of global liquidity boosted stocks across the globe last 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 rose 7817.50 points or 81.03% in calendar year 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex was up 9398.33 points or 115.16% as on 4 January 2010.
India's largest private sector firm by market capitalisation Reliance Industries (RIL) fell 1.29% to Rs 1075.35. Nevertheless, the stock came off the day's low of Rs 1022. Reliance Industries has reportedly raised $577 million through a share sale, the second big equity fund raising in under four months as it looks to buy bankrupt petrochemicals firm LyondellBasell. Reliance, controlled by India's richest man, Mukesh Ambani, sold 2.5 crore existing treasury shares at a 5% discount to Thursday's market close or at a weighted average price of Rs 1035.10 to state-run Life Insurance Corp of India, reports suggest. The deal follows a $660 million share sale by conglomerate Reliance in September 2009.
Oil exploration firms rose, as oil surged past $80 a barrel amid thin trading volumes on Monday, the first trading day of 2010, partly supported by news that Russia had halted oil supplies to Belarussian refineries. India's biggest state-run oil exploration firm by revenue Oil & Natural Gas Corporation (ONGC) rose 0.83%. Cairn India advanced 1.47%. India's second biggest oil and gas exploration firm by revenue, Oil India was flat.
Rise in crude oil prices would result in higher realizations from crude sales for oil exploration firms. US crude for February delivery rose 59 cents to $79.95 a barrel in electronic trading.
Cement shares gained on speculation cement prices will increase in the first quarter of calendar year 2010 on rise in infrastructure activity. Ambuja Cement, UltraTech Cement, Birla Corporation rose by between 2.31% to 5.4%.
India's largest cement maker by sales ACC rose 4.87% even as cement shipments fell 1.1% to 18.8 lakh tonnes in December 2009 over December 2008.
Banking stocks extended gains on reports credit offtake has picked up this month. According to the latest Reserve Bank of India (RBI) figures, total loans, including food credit loans to Food Corporation of India for foodgrain procurement and non-food credit (all other loans) amounted to Rs 29,41,293.07 crore as on 19 December 2009. This represents a sequential growth of Rs 34,028 crore since 27 November 2009 compared to a growth of Rs 7,698 crore in the whole of November 2009.
India's largest bank by net profit and branch network State Bank of India rose 0.98%. The state-run bank paid advance tax of Rs 1795 crore versus Rs 1700 crore. India's largest private sector bank by net profit ICICI Bank rose 0.37% even as its ADR fell 0.26% on Thursday. The bank is reportedly raising up to Rs 1200 crore by selling bonds.
India's second largest private sector bank by net profit HDFC Bank rose 0.29% as its ADR rose 0.42% on Thursday, 31 December 2009.
Consumer durables stocks gained on hopes of good earnings on the back of higher sales in Christmas. Videocon Industries, Blue Star, Asian Star Company and Rajesh Exports rose by between 0.11% to 6.21%.
Auto stocks extended recent gains on the back of strong sales in the month of December 2009 and higher advance tax payment in the third quarter.
India's largest tractor marker by sales Mahindra & Mahindra (M&M) advanced 4.52%. Mahindra & Mahindra, reported 122% rise in its domestic sales to 22,754 units in December 2009 over December 2008. The company sold a total of 24,001 vehicles (domestic plus exports) in December 2009 as against 11,172 vehicles sold in December 2008.
India's top truck maker by sales Tata Motors rose 4.39%. Tata Motors registered 105% growth in sales to 51,627 units in December 2009 over December 2008.
TVS Motors rose 9.59%. The company said its sales rose 34% to 119,701 units in December 2009 over December 2008.
But, India's largest motorcycle maker by sales Hero Honda Motors fell 0.18%. Sales jumped 74% to 375,838 units in December 2009 over December 2008.
Bajaj Auto fell 1.66%. Bajaj Auto sold 2,20,429 two-wheelers in December 2009, registering an 85% growth in sales over the same month last year, when it sold 1,19,215 units.
India's top small car marker by sales Maruti Suzuki India fell 0.57%. Maruti, posted a 51% rise in total sales in at 84,804 units in December 2009 over December 2008.
Metal stocks rose as after LMEX, a gauge of six metals traded on the London Metal Exchange, rose. 0.14% on Thursday, 31 December 2009. Steel makers rose as steel companies are reportedly eyeing higher prices in 2010 as stronger economic growth worldwide drives up demand for the critical building material. Tata Steel, Jindal Steel & Power, JSW Steel rose by between 1.05% to 2.66%.
Steel Authority of India (SAIL) rose 3.14% after company reported a 32% growth in sales at 1.3 million tonne in December 2009 from a year ago
Recently, Tata Steel raised prices by Rs 2,000 a tonne, while state-owned Steel Authority of India (SAIL) withdrew the Rs 750-1,500 per tonne rebate it had started offering in November 2009, following the increase in raw material cost.
Among non ferrous stocks, National Aluminum Company, Stelite Industries, Hindalco Industries rose by between 1.49% to 5.23%.
Software pivotals rose on recent encouraging economic data in the United States. US is the biggest market for Indian IT firms. India's second largest software services exporter Infosys rose 0.35% even as its ADR fell 0.79% on Thursday. India's largest software services exporter TCS rose 0.26%. India's third largest software services exporter Wipro rose 2.09% even as its ADR fell 0.54% on Thursday.
India's largest thermal power generator by sales NTPC declined 1.65% on profit booking after the scrip climbed 13.8% in seven trading sessions to Rs 235.70 on 31 December 2009, from a recent low of Rs 207.05 on 18 December 2009.
Among other prominent power sector stocks, Tata Power Company, Reliance Power, Reliance Infrastructure, Torrent Power rose by between 0.64% to 2.13%.
JSW Energy settled at Rs 100.75, a premium of 0.75% over the initial public offer price of Rs 100. The stock debuted at Rs 102, a premium of 2% over the initial public offer (IPO) price.
Rate sensitive realty stocks rose on reports realty sector holds promise in the year 2010 after a lackluster 2009. India's largest realty player by market capitalization DLF rose 0.97%. On 16 December 2009, the company's board approved merger of its commercial realty arm DLF Assets (DAL) with itself, a move aimed at repaying some of DAL's debt.
Among other realty stocks, Unitech, Housing Development & Infrastructure, Peninsula Land rose by between 0.25% to 1.94%.
India's largest engineering & construction firm by sales Larsen & Toubro rose 0.71% extending Thursday's gains after company said today it won orders worth Rs 987 crore. The company said on Thursday 31 December 2009 it won two orders totaling Rs 580 crore.
Among other capital goods stocks, Bharat Heavy Electricals, BEML and Praj Industries rose by between 0.71% to 2.08%.
Sugar stocks soared as prices of the commodity rose sharply last week. Shree Renuka Sugars, Bajaj Hindusthan Sugar and Industries, Dhampur Sugar and Balrampur Chini rose by between 2.36% to 8.78%. Ex-mill sugar price in the state is at a record high of Rs 3,700 a quintal. Prices have gone up 7-8% in one month, though crushing season is on.
The Union government has allowed duty-free import of raw sugar to tide over the domestic production shortfall. In the 2008-09 season ending October 2009, domestic sugar output fell 42 per cent to 15 million tonne, causing retail sugar prices to more than double. Currently, sugar is selling at Rs 42-43 a kg in retail.
JSW Energy clocked highest volume of 3.51 crore shares on BSE. Cals Refineries (2.56 crore shares), Reliance Industries (1.4 crore shares), FCS Software (1.31 crore shares) and Sanraa Media (1.14 crore shares) were the other volume toppers in that order.
Reliance Industries clocked the highest turnover of Rs 1516.70 crore on BSE. JSW Energy (Rs 353.69 crore), OnMobile Global Solutions (Rs 142.61 crore), Tata Steel (Rs 118.57 crore) and Tata Motors (Rs 109.95 crore) were the other turnover toppers in that order.
Daily Call - Jan 4 2010
After seeing the worst ever yearly fall in the year 2008, Indian equity markets staged a great comeback in the year 2009. While Nifty registered the highest ever yearly gains since its inception by putting on 76%, gains in Sensex at 81% were the best after 1991. While the beginning of 2009 was gloomy, we are starting the year 2010 on a much more optimistic note. Financial systems across the world which were in the mess at the start of 2009 seem to have stabilised. Stimulus measures pumped in the aftermath of the subprime crisis have resulted in most of the economies coming back on track.
A stable, pre-reformist government, a strong central bank that has managed the country’s monetary situation exceedingly well, a strong domestic demand, a burgeoning middle class, and high savings rate are big plus points for India going into 2010. India remains in a sweet spot and a preferred FII destination. Having said that, last year’s bumper returns are not expected to be replicated this year at the index level, though returns in the range of 15-20% in line with earnings growth are quite possible. It is a matter of time before Policy rates, which were brought drastically down in the after math of the subprime crisis, start moving up as inflation has moved up and is likely to move up further, Industrial growth has revived and credit growth is showing signs of revival. Some sort of withdrawal of stimulus measures is also not ruled out in the Feb 2010 budget in a bid to control the fiscal deficit. Other things to watch out will be following up of the big plans announced by the government, especially regarding Infrastructure and PSU divestment and how the monsoon pans out. If things work out well, Indian economy is all set to sustain an average growth of 8% over next 3-4 years. From the stock market point of view, unlike last year, when almost everything went up, this year will be a year of stock picking as easy money has been made. Among the sector, Healthcare, Infrastructure and IT are our preferred bets. WISH YOU A PROSPEROUS 2010.
Markets to open higher
Headlines for the day
Bajaj Auto Dec sales soar 85%
HPCL to supply Euro IV petrol in Hyderabad
IOC revisits Ennore project for LNG terminal, power unit
Maruti crosses 1 lakh retail sales in Dec 2009
Tata Motors Dec sales more than doubles at 51,627 units
Events for the day
Major corporate action:
Listing of equity shares of JSW Energy Ltd
Ex-date for dividend of Avaya Globalconnect Ltd
Ex-date for interim dividend of Rural Electrification Corporation
Ex-date for stock split of Lanco Infratech from Rs10 per share to Re1 per share
Pre-market report
Global signals
On Thursday, The European stocks showed the mixed trend. FTSE 100 closed 0.28% higher at 5413.
The US markets declined on Thursday, as Nasdaq down 22 points to closed at 2269.
In today's trade, apart from Straits Times all the other Asian indices trading in green. At the time of writing this report, SGX Nifty trading higher by 5 points.
Indian markets
The domestic indices are expected to open higher and may remain volatile following the positive global cues.
Among the local indices, the Nifty could test the 5250-5275 range on the up side, while on the down side it could find support at 5182 and 5150. While the Sensex is likely to get support at 17200 and may face resistance at 17530.
Indian ADR's
Indian ADRs trading on the US bourses, all the ADRs closed in negative territory except HDFC bank that surged 0.42%. among losers MTNL fell the most with loss of 2.54%.
Commodity cues
In the commodity space, wherein the Crude oil prices recorded marginal gain, with the Nymex light crude oil for February series rose by $0.12 to settle at $79.40 a barrel.
In the metals space, Comex Gold for February series surged marginally by $4.00 to settle at $1096.50 to a troy ounce.
In the metals space, Comex Silver for March series rise marginally by $0.02 to settle at $16.82 to a troy ounce.
Daily trend of FII/MF investment in equities
On December 31, 2009, FIIs were the net buyers of the Indian Stocks in the tune of Rs353.90 crore (with the gross purchase of Rs1417.20 crore and gross sales of Rs1063.40 crore).
While the Domestic mutual funds, on December 29, 2009, were the net buyers of the stocks in the tune of Rs200.90 crore (with gross purchase of Rs657.30 crore and gross sales of Rs456.40 crore).
Grey Market Premium - DB Corp, JSW Energy, Godrej Properties
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| D.B. Corp. | 212 (For Retail Investor Rs. 210) | 27 to 28 |
| JSW Energy Ltd. | 100 (For Retail Investor Rs. 95) | +/- 3 to 4 |
| Godrej Properties | 490 | 29 to 30 |
| MBL Infra | 180 | 10 to 12 |
Markets likely to open flat; Auto stocks may rise
Indian equities are likely to open flat on Monday, January 04, 2010. SGX Nifty is trading at 5,225 (8.09 am), 5.50 points higher than Friday`s closing of 5,219.5.
Auto stocks - Tata Motors, Maruti Suzuki, Mahindra & Mahindra, Hero Honda and TVC Motor will be in focus today following robust sales growth for December 2009.
Asian stocks rose after Chinese manufacturing expanded in December and a stronger dollar boosted the earnings outlook for Japanese car and electronics manufacturers.
US stocks ended 2009 on Thursday with their best gains since 2003, driven by optimism about the economy`s recovery and a brighter outlook for profits.
European stocks posted their third straight weekly advance, as the global economy recovered from its worst recession since World War II.
Oil prices ended 2009 with a bang, surging by about USD10 a barrel in the final two weeks as the country cut into its hefty crude supply.
US stocks end year with a whimper
Thursday's losses fail to curb good yearly gain for the indices
US stocks ended the final trading day of FY 2009 with a loss. It was mainly lack of participation of majority of traders leading to low volume and lack of any major news flow that led stocks end in the red for the day on Thursday, 31 December 2009. Nevertheless, the major indices managed to end substantially higher for the year with the technology sector being the most out performing sector.
At the end of the day on 31 December, 2009, the Dow Jones Industrial Average ended lower by 120.46 points at 10,428.05. Nasdaq ended lower by 22.18 points at 2269.15. S&P 500 ended lower by 11.32 points at 1115.4. The Dow was trading higher by 48 points higher earlier during the day.
All ten economic sectors ended lower for the day led by utilities, industrials, and material sectors.
For the week, that ended on Thursday, Dow ended lower by 92 points. Nasdaq and S&P500 lost 16.5 points and 11.4 points respectively on a weekly basis.
Investors ignored the encouraging piece of economic data that was scheduled for the day on Thursday. The Labor Department in US reported on Thursday, 31 December, 2009 that initial jobless claims fell 22,000 to a seasonally adjusted 432,000 in the week ended 26 December, 2009. It marked the lowest level since July 2008. The drop in initial claims figure was more than expected. Just nine months ago, claims peaked at 674,000.
The four-week average of initial claims dropped 5,500 to 460,250, the lowest since September 2008. The number of continuing claims, which reflects people who have been collecting state benefits for an extended period, dipped 57,000 to 4.98 million in the week ended 19 December, 2009. The four-week average of continuing claims dropped 122,000 to 5.22 million, the lowest rate since late February.
In the currency market on Thursday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell against almost all the counterparts. The dollar index settled for a loss of 0.1% after slipping by almost 0.4% earlier during the day.
Crude prices ended higher on Thursday, 31 December 2009, the last trading day of FY 2009. With Thursday's gain, crude prices marked the highest yearly gain in a decade. Prices shot up once again as the economy showed healthy signs of recovery and as dollar weakened.
On Thursday, crude-oil futures for light sweet crude for February delivery closed at $79.36/barrel (higher by $0.08 or 0.1%). Earlier in the day, it rose to a high of $80.05.
Crude ended FY 2009 higher by 78%, the highest yearly gain since 1999. It reached a high of $82 earlier in October this year and hit a low of $33.98 on 12 February 2009. Oil prices had reached a high of $147 on 11 July, 2008 but have dropped almost 42% since then.
The technology sector remained the best performer in 2009. Large-cap tech issues helped the Nasdaq Composite advance 43.9% this year and outperform its counterparts. S&P 500 finished the year with a 23.5% gain, while the Dow finished 2009, 18.8% higher.
The financial sector also registered good gains for the year, though was not one of the frontrunners among all sectors. Though its yearly gain wasn't as impressive as what was accomplished by other sectors, financials finished the year up approximately 250% from their March low. That spike was attributable to bank stocks, which rallied after liquidity fears faded.
Barring HDFC Bank, all Indian ADRs ended in the red on Thursday. VSNL, MTNL and Punjab Tractors were the largest losers, each shedding almost 2%.
The stock market was closed on Friday, 01 January to observe New Year's Day. Looking ahead to next week, the economic calendar will be in focus, particularly the employment sector as the change in Nonfarm Payrolls and the Unemployment Rate for December will be released on Friday.
Daily News Roundup - Jan 4 2010
Maruti Suzuki posted a 50% yoy growth for December, clocking sales of 84,804 units. (BL)
Tata Motors reported over 100% yoy growth in its sales during the month of December 2009. (DNA)
Hero Honda clocks 0.38mn units in December and posted a 74% growth over the same month last year. (BL)
Bajaj Auto sold 220,429 two-wheelers in December 2009, registering 85% growth in sales over the same month last year. (BS)
TVS Motors' sales grew 34% in December to 0.12mn. (BL)
NTPC is set to launch its FPO in the first week of February; it aims to raise Rs80-110bn through the process. (DNA)
Shell, BP evinces interest in picking up Petrobas’ 15% stake in ONGC’s gas find off Andhra coast. (TOI)
ONGC has lost an oilfield in Algeria to a consortium led by Chinese oil firm. (TOI)
SAIL increased the prices of flat and long products by Rs1,500, while Tata Steel hiked the rates of flat products by up to Rs1,500. (BS)
Bhushan Steel hiked the prices of its long and flat products by up to Rs2,000 a ton. (BS)
SAIL reported a 32% growth in sales at 1.3mn tons in December 2009. (BS)
GVK Power and Infrastructure will take up a 400MW expansion project at Jegurupadu and an 800MW scheme at Gauthami, both in Andhra Pradesh. (BL)
MTNL has asked government to shoulder pension burden in a bid to cut down on wage costs. (TOI)
Air India is set to launch two separate subsidiaries - for maintenance, repair & overhaul and ground handling services - this year. (DNA)
Bharti Airtel may get Warid Telecom for a bargain basement price of Rs4.5mn. (ET)
Reliance Retail plans to open 45 stores of its books and music retailing business, Reliance TimeOut, across India over the next three to five years. (ET)
ONGC has doubled crude oil production at Imperial Energy, the Russia-focused oil firm it acquired recently, to 16,000bpd and is set to turn the company around next year. (ET)
IOC, BPCL and HPCL cut the prices of jet fuel by 1.6% across airports. (ET)
Sun Pharma has succeeded in preventing Taro’s founder family from appointing independent directors of their choice on the Taro Board. (BS)
L&T bags orders worth Rs5.8bn from Powergen Infrastructure and Bangalore Water and Sewerage Board. (BS)
ONGC Videsh, the overseas arm of ONGC, raises Rs3.5bn via bonds. (BS)
Godrej Consumer is close to acquiring Megasari, Indonesia in a deal estimated to be worth Rs12-14bn. (ET)
TVS Motors to showcase hybrid range of vehicles at the Auto Expo slated to be held in New Delhi next week. (ET)
Maharashtra Government offers 2,000 acres to Videocon Group for the development of a multi-purpose SEZ in Pune. (BS)
REC is keen to pick up 26% stake in coal mines and merchant power plants. (ET)
Shree Cement has bought about 90 acres of land in various states such as Karnataka, Chhattisgarh and also its home state of Rajasthan to set up new plants. (ET)
Zydus Cadila has acquired the remaining 30% stake in its South Africa-based subsidiary Simayla for an undisclosed amount. (ET)
Orchid Chemicals has bought-back FCCBs of aggregate face value of US$19.8mn. (BS)
Sical Logistics has bagged an Rs1.6bn contract from Hindustan Copper for supplying port, train and road logistics products. (ET)
Deep Industries’ contract with GACL for the compression of natural gas and delivery of compressed natural gas at specified outlets has been extended for a period of three years. (BS)
Ashok Leyland unveils a new platform ‘U Truck’, which would address new emission norms, offer product flexibility and customization. (DNA)
IDFC’s project equity division is weighing investment in a greenfield power plant being set up by Monnet Power and Energy. (DNA)
Foreign exchange reserves fall by US$144mn to US$283bn, for the week ended December 25. (BL)
Food inflation for the week ended December 19 again surges to 19.83%. (ET)
CPI for industrial workers rose to 13.5% in November 2009 as compared to 11.5% in October. (BS)
Fiscal deficit rose by 73% to Rs3.1tn in the first eight months of the fiscal against Rs1.77tn a year ago. (BS)
India’s current account deficit remained flat at US$12.6bn for the quarter ended September 2009. (ET)
Government to raise Rs970bn in the last quarter of the fiscal through treasury bills. (ET)
Oil marketing companies cut ATF prices by 1.6% across airports, the third straight reduction in the past one-and-half months. (ET)
Domestic IT and IT-enabled services market is expected to grow at 15% in 2010, as per IDC. (BS)
Farm sector growth in October-December 2009 quarter may be negative, according to the finance minister. (BS)
Government’s port capacity expansion may miss 2012 target of 1bn tons. (BS)
Provisional figures released by the Directorate-General of Commercial Intelligence and Statistics for November show exports at US$13.2bn, an increase of 18.2% after a long spell of negative growth. (BL)
RBI’s deputy governor says credit growth is expected to touch 15-20%. (BL)
Insurance regulator IRDA would come with IPO guidelines for the sector within a fortnight to allow companies to raise funds from capital market. (TOI)
NHAI mulls changes in toll fee norms. (FE)
FMCG firms may hike soap prices or cut pack size. (FE)
In an attempt to ensure that big electricity projects achieve financial closure, the Union power ministry plans to cap the number of ultra mega power projects that can be awarded to a single developer. (Mint)
Union government may update the current inflation series with an expanded basket of commodities and a new base year in April. (Mint)
DoT says mobile number portability would be introduced across the country from March 31, 2010. (ET)
Fine at Nine!
The beginning is the most important part of the work.
Happy New Year! The beginning just got earlier for the market and we hope it bears fruit. We expect a positive opening on the first trading day of 2010 and the decade. US market fell on the last trading day of 2009. Asian markets are mixed but Japanese shares have extended the recent advance. European stocks finished higher on Dec. 31. Things might remain sideways to start with as the market braces for the year ahead after a phenomenal comeback last year.
The market ended on a reasonably strong footing with the Nifty closing above 5200. The Sensex too made a new high for the year 2009. Quarterly earnings, RBI’s policy moves and the Union Budget will be the key events that will drive the sentiment in the initial few weeks. Global economic data points and earnings will also have a bearing but to a lesser extent. Trends in fund flows and movement in other markets (currency and commodities) will be among the other key triggers. Let’s hope that in 2010, the market does as well as it did in 2009.
FIIs were net buyers in the cash segment on Thursday at Rs5.16bn on a provisional basis. The local funds were net sellers of Rs4.7bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers at Rs6.15bn. As per the SEBI figures, FIIs were net buyers of Rs3.54bn in the cash segment on Wednesday.
Auto stocks could gain on the back of another month of strong sales volume.
Shares of JSW Energy will get listed on the bourses. Godrej Property will list on Tuesday and DB Corp on Wednesday.
Federal Reserve chairman Ben S. Bernanke has defended the US central bank's record. The Fed chairman says that low interest rates in the first half of the last decade were reasonable and not to blame for the ensuing housing bubble. Lax regulation of mortgage industry much bigger housing culprit than low interest rates, Bernanke says.
A key measure of Chinese manufacturing reached a 20-month high in December, while also marking its 10th straight month of expansion.
Singapore's economy during the fourth quarter showed a much sharper quarter-on-quarter fall than had been expected, according to reported figures. The city-state's economy shrank by an annualized 6.8% from the previous quarter, compared to analysts' average expected drop of 4.6%. On a year-on-year basis, the economy grew 3.5%. For 2010, the Singaporean government said it saw GDP rising 3% to 5%.
US stocks slipped on Thursday in a thinly-traded session on the last day of 2009, as investors considered a better-than-expected report on initial jobless claims at the end of a big year on Wall Street.
The Dow Jones Industrial Average lost 120 points, or 1.1%, after ending the previous session at the highest point since Oct. 1, 2008. The S&P 500 index fell 11 points, or 1%, after ending the previous session just short of a 15-month high. The Nasdaq Composite shed 22 points, or 1%, and ended the previous session at the highest point since Oct. 3, 2008.
Stocks had been sideways through the early afternoon as investors mulled a better-than-expected jobs report and a strong US dollar, before sliding in the last hour of trade. Declines were broad-based, with 29 of 30 Dow components sliding.
Volume was tepid, with many market participants leaving early ahead of New Year's Eve. All financial markets were closed on Friday in observance of New Year's Day.
In the year 2009, the S&P 500 gained 23.4%, the Dow industrials gained 18.8% and the Nasdaq added 44%. Stocks gained even more substantially since bottoming in March at the height of the financial market crisis. Since closing at a 12-year low on March 9, the Dow has gained 59% and the S&P 500 has gained 65%. Since closing at a 6-year low on the same date, the Nasdaq is up 79%.
The number of Americans filing new claims for unemployment fell to 432,000 last week, the government reported. It was the lowest level since July 2008. Economists expected 460,000 new jobless claims, up from the 454,000 filed in the previous week.
COMEX gold for February delivery rose $3.70 to settle at $1,096.20 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 8 cents to settle at $79.36 a barrel on the New York Mercantile Exchange.
The dollar gained versus other major currencies.
Treasury prices tumbled, raising the yield on the 10-year note to 3.84% from 3.79% late on Wednesday.
European shares closed slightly higher in a shortened final trading session of 2009 as the region wrapped up its best trading year in a decade. The FTSE Eurofirst 100 rose 0.2% to 3,345.58, in thin trading, with gains for miners and some banks helping tip the region higher.
The Dow Jones Stoxx 600 index wasn't calculated on Thursday as some markets, including Germany and Italy, remained closed. However, 2009 was the index's strongest year since 1999 as it posted a 27.6% rise following the sharp drop in 2008. In 1999 the index rose around 36%.
Among regional markets, the French CAC 40 index closed up 0.02% at 3,936.33. Over the year, the main French index has risen 22.3%.
The UK's FTSE 100 index ended 0.3% higher at 5,412.88. Since the start of 2009 the index has gained 22.1%, with the mining sector showing the strongest rise.
Indian market bid farewell to 2009 on a strong note, with the BSE Sensex touching a new high for the year while the NSE Nifty closed above the crucial level of 5200. Firm Asian markets and positive start in European markets managed to offset the bad news on the inflation front.
Sustained gains in select index heavyweights like SBI, BHEL, Reliance Industries and NTPC ensured a healthy advance on the last trading session of the calendar year. Quite a few Asian markets were shut on account of New Year's eve while others like Hong Kong were open for half a day.
Trading is expected to be light today across world equity markets as several market players have opted for an extended Christmas and year-end holidays. Most world financial markets are closed on Friday for the New Year's Day holiday. That means it will be an extended weekend.
The Indian stock indices had closed in the red on Tuesday following an extended weekend though the NSE Nifty did manage to make a new high on the intra-day basis. The benchmarks struggled for direction on Wednesday.
The Sensex closed at 17,464.81, up 120.99 points or 0.7% from the last close. It touched a high of 17,530.94 after opening at the day's low of 17,365 as against the previous close of 17,343.82. The Nifty, meanwhile ended at 5201.05, up about 31.60 points, or 0.6%. It touched a high of 5221 and a low of 5168 after opening at 5171.
The Sensex shot up by 80% in the year while the Nifty gained 75%.
The Sensex today hit its highest level in nearly 20 months. The benchmark BSE index rose to a high of 17,530.94, its highest level since May 2008. The main index has surged since March on strong foreign fund inflows, and posted its biggest yearly gains since 1991, when it jumped a record 82.1%.
Foreign Institutional Investors (FIIs) poured in US$17.4bn into Indian stocks this year, including US$14bn via QIP, IPOs, ADRs, GDRs, etc. Last year, they had pulled out US$13bn in the wake of the western financial turmoil and the subsequent slowdown in the global economy. The record US$17.65bn of net FII inflows was in 2007.
Domestic Institutional Investors (DIIs) were net buyers of Rs267bn.
As far as the broader market is concerned, the small-cap and mid-cap shares extended their recent advance but the frontline counters dominated the proceedings. The BSE Small-Cap index and the BSE Mid-Cap index rose 0.6% and 0.3%, respectively.
If one talks about sectors, the gains were witnessed across the board. The BSE indices for Power, Capital Goods, Consumer Durables and Oil & Gas added 1% each. The BSE indices for Auto, IT and PSU rose 0.7-1%. Select Banking and Metal shares also gained. Real Estate, Pharma and FMCG closed in the red.
Within the Sensex, the top gainers were Jaiprakash Associates, SBI, BHEL, M&M, Tata Power, RIL, NTPC, Bharti Airtel, Infosys and Grasim. (1-4%). Other notable gainers were TCS and L&T. DLF lost 1% and was the biggest loser in the Sensex. Sun Pharma and Maruti Suzuki ended slightly lower.
NTPC shares gained 1.2% to Rs235.70, the highest since Jan. 18, 2008. A business daily reported that the Government plans to let the state-run power generation giant sell around 10% of its total electricity generation at market-determined prices, a move expected to boost its profit by up to 40%. The Government may allow NTPC to sell a part of the remaining power to bulk buyers such as sugar mills and steel factories, the financial newspaper reported.
Central Bank, Onmobile Global, DCM Shriram Consolidated, NALCO, Shriram Transport, Sterlite Tech, Sunteck Realty, Assam Co., JM Financial, Videocon Industries, Core Projects, JSL, Indiabulls Securities and Golden Tobacco were among the leading winners outside the main indices.
Great Offshore, Titagarh Wagons, Panacea Biotec, Radico Khaitan, Lok Housing, TVS Motor, Tata Chemicals, Nirlon, Tube Investments and Deccan Chronicle were among the top losers in the broader market.
Market may gain on firm Asia; trading starts at 9:00 AM
The market may extend recent gains on firm trading in most of Asia. Jump in domestic exports may also support market. From today, 4 January 2010, trading will start at 9:00 IST and end at 15:30 IST compared to the earlier timing of 9:55 IST to 15:30 IST. The market remained closed on Friday, 1 January 2010, for the New Year holiday.
The Reserve Bank of India (RBI) will review interest rates at its next policy review scheduled for 29 January 2010 and not before, K.C. Chakrabarty,a deputy RBI governor said on 31 December 2009. He further said credit growth will rise to 17-18% when GDP growth reaches 8-9%.
Finance Minister Pranab Mukherjee said on 30 December 2009 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.
Recently C. Rangarajan, Chairman of the Economic Advisory Council to the Prime Minister, raised concern over 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 economy will expand 8 % in 2010/11 after growing between 7 and 7.5 % in the current fiscal year to end-March, C. Rangarajan said on Saturday 1 January 21010. Rangarajan also said the economy would return to an annual growth rate of 9 % in the fiscal year to end-March 2012 on the back of an improvement in the world economy and global trade.
Food price index rose 19.83% in the 12 months to 19 December 2009, data released by the government showed on 31 December 2009, showed. The primary article index jumped 15.49% and the fuel price index rose 4.45%. The worst monsoon in nearly four decades and flooding in some parts of the country have pushed up food prices.
Meanwhile, India's exports sector has bounced back with outward trade growing by 18% in November 2009, the commerce ministry said. The export figures turned positive after staying in the red for 13 months. The value of exports in November 2009 jumped to $13.19 billion compared to $11.16 billion.
Data earlier this month 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.
Auto stocks will be in action as the sector posted strong sales in December 2009. TVS Motor, a maker of two- and three-wheeled vehicles, said its sales rose 34% to 119,701 units in December 2009 over December 2008. Maruti, the local unit of Suzuki Motor Corp. and India's biggest carmaker by sales, posted a 51% rise in total sales in at 84,804 units in December 2009 over December 2008..
Mahindra & Mahindra (M&M) India's largest tractor maker by sales, reported 122% rise in its domestic sales to 22,754 units in December 2009 over December 2008. The company sold a total of 24,001 vehicles (Domestic + Exports) in December 2009 as against 11,172 vehicles sold in December 2008. The country's largest commercial vehicle maker by sales, Tata Motors registered 105 % growth in sales to 51,627 units in December 2009 over December 2008.
The shares of JSW Energy will be listed on the bourses today, 4 January 2010.
In global news,most of the Asian stocks rose on Monday after Chinese manufacturing expanded in December and a stronger dollar boosted the earnings outlook for Japanese car and electronics manufacturers. The key benchmark indices in Hong Kong, Indonesia, Japan and South Korea rose by between 0.02% to 1.17%. But the key benchmark indices in Singapore and Taiwan fell by between 0.19% to 0.3%.
China's Purchasing Managers' Index climbed to a seasonally adjusted 56.6, the Federation of Logistics and Purchasing said on 1 January 2010. It was the fastest expansion in 20 months. South Korean exports increased 33.7 % in December from a year earlier, the fastest pace in 17 months, the Ministry of Knowledge Economy said on 1 January.
Singapore's economy shrank for the first time in three quarters. Gross domestic product contracted an annualized 6.8 % in the fourth quarter to December from the previous three months after climbing a revised 14.9 % from July to September, the trade ministry said in a statement today.
U.S. stocks closed out 2009 on Thursday 31 December 2009 with their first annual advance in two years, underpinned by strength in technology and natural resource shares on bets that the recovery will brighten the profit outlook. The Dow Jones industrial average fell 120.46 points, or 1.14 % to end at 10,428.05. The Standard & Poor's 500 Index declined 11.32 points, or 1%, to finish at 1,115.10. The Nasdaq Composite Index lost 22.13 points, or 0.97 %, to close at 2,269.15. US markets remained close on Friday, 1 January 2010 on New Year's holiday.
Closer home, the key benchmark indices attained their highest closing level in nearly 20 months on the last trading day of calendar 2009 as Asian stocks rose. The BSE 30-share Sensex rose 120.99 points or 0.7% to 17,464.81 its highest closing since 5 May 2008.
As per provisional figures on NSE, foreign funds bought shares worth Rs 516.10 crore and the domestic funds sold shares worth Rs 472.16 crore on Thursday, 31 December 2009.
Lakshmi Vilas Bank
We recommend a buy in the stock of Lakshmi Vilas Bank from a short-term horizon. It is evident from the charts of the stock that from its March 2009 low of Rs 51.5, it has been on a longer term uptrend forming higher peaks and troughs. Twin supports at around Rs 70 (a significant long-term support level and uptrend line) arrested the stocks medium-term corrective decline that was in place between late September 2009 and late November 2009. The stock appears to have formed a solid base at around Rs 70 as it consolidated just above this support level for nearly three weeks and headed upwards. On December 24, the stock surged 6 per cent penetrating the downtrend line and 21-day moving average. Later on, it crossed over 50-day moving average, reinforcing the longer-term trend. We observe that the volumes are rising over the past four trading sessions. The daily relative strength index is hovering in the positive zone and weekly RSI has just entered this zone from the neutral region. The daily moving average convergence and divergence indicator has signalled a buy and is moving in the positive territory. Our short-tem outlook is bullish. We anticipate the stock to move up until it hits our price target of Rs 93. Traders with short-term perspective can consider buying the stock while maintaining a stop-loss at Rs 79.5.
via BL
Healthy gains for red metal
Strike concerns take red metal price higher
Copper prices ended higher at Comex and LME on Thursday, 31 December 2009. Prices rose due to the possibility of a strike at the world's second largest mine this Monday, 4 January, 2010 as talk broke down between concerned parties. Prices also rose due to strong economic data and weak dollar.
At USA, copper futures for March delivery ended higher by 0.15 cents (0.3%) to 3.3465 a pound. Earlier it touched a high of $3.379. Copper ended FY 2009 higher by 140%.
At LME, copper for delivery in three months ended higher by $45 (0.6%) at $7,375. On 3 July, 2008, prices had touched an all time intra day high of $8,940.
Copper ended substantially higher this year on expectations of revived global economic growth along with a decline in the dollar. The metal was also pushed higher by record first-half imports to China, the world's largest user.
As per reports, workers at Codelco's Chuquicamata mine are expected to go on a strike from 4th January, 2010, in Chile. The company is the world's biggest copper miner.
The current contract for Chuquicamata miners ended on 31 December, 2009 as the workers voted to strike after rejecting a 3.8% pay increase offered by Codelco. The union sought 5%.
In the currency market on Thursday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell against almost all the counterparts. The dollar index settled for a loss of 0.1% after slipping by almost 0.4% earlier during the day.
Among economic data expected for the day, The Labor Department in US reported on Thursday, 31 December, 2009 that initial jobless claims fell 22,000 to a seasonally adjusted 432,000 in the week ended 26 December, 2009. It marked the lowest level since July 2008. The drop in initial claims figure was more than expected. Just nine months ago, claims peaked at 674,000.
The U.S. buys about 13% of the 17 million metric tons of copper sold annually and China buys about 20%.
In FY 2008, copper prices dropped by 54%. Prior to 2008, copper prices ended FY 2007 with a gain of mere 5.5% after a whopping 44% gain in FY 2006. The price of copper gained every year since 2002 as global economic growth boosted demand for the metal used in pipes and wires.
Subscribe to:
Posts (Atom)