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Thursday, January 14, 2010
IPO Grey Market Premium - Infinite Computer Solutions
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Infinite Computer | 155 to 165 | 42 to 45 |
| Birla Shloka (FPO) | 45 to 50 | 5 to 6 |
| Jubilant Food Works Ltd. | 135 to 145 | 14 to 15 |
BSE Bulk Deals to Watch - Jan 14 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
14/1/2010 524412 Aarey Drugs PATEL SONAL KIRITBHAI B 37423 53.70
14/1/2010 524412 Aarey Drugs PATEL SONAL KIRITBHAI S 39472 53.88
14/1/2010 526955 ABL Biotech HITESH SHASHIKANT JHAVERI B 45006 27.90
14/1/2010 526955 ABL Biotech SAINATH HERBAL CARE MARKETING P.LTD S 100280 27.87
14/1/2010 532828 AMD Inds REGENT FINANCE CORPORATION PVT. LTD. B 98260 35.45
14/1/2010 532828 AMD Inds TRANSGLOBAL SECURITIES LTD. B 134514 33.50
14/1/2010 532828 AMD Inds AKG SECURITIES AND CONSULTANCY LIMITED B 102244 33.80
14/1/2010 532828 AMD Inds HEMANSHU SHAH B 148268 34.72
14/1/2010 532828 AMD Inds REGENT FINANCE CORPORATION PVT. LTD. S 98260 34.58
14/1/2010 532828 AMD Inds TRANSGLOBAL SECURITIES LTD. S 137464 33.39
14/1/2010 532828 AMD Inds AKG SECURITIES AND CONSULTANCY LIMITED S 102244 33.58
14/1/2010 532828 AMD Inds SREYASH KUMAR MAHESHBHAI PATEL S 309000 31.97
14/1/2010 532828 AMD Inds HEMANSHU SHAH S 199634 36.34
14/1/2010 503940 Asian Elect SHAH INVESTMENTS FINANCIAL DEV & CON PRIVATE LIMIT S 219343 41.34
14/1/2010 533138 ASTEC MAVI INVESTMENT FUND LIMITED. S 245900 88.00
14/1/2010 505029 Atlas Cycle SMART EQUITY BROKERS PRIVATE LIMITED B 21144 256.89
14/1/2010 505029 Atlas Cycle SMART EQUITY BROKERS PRIVATE LIMITED S 21144 257.53
14/1/2010 512149 Avance Tech CHANDRAKANT B SHAH B 2165291 5.30
14/1/2010 512149 Avance Tech SUNDER DIPAK S 2500000 5.30
14/1/2010 532406 Avantel TECHNO BROKING and FINANCIAL SERVICES PRIVATE LIMITED B 23967 75.58
14/1/2010 532406 Avantel SARAH FAISAL HAWA B 48300 79.95
14/1/2010 532995 Avon Corp S V ENTERPRISES B 932473 8.15
14/1/2010 532995 Avon Corp S V ENTERPRISES S 932473 8.26
14/1/2010 505506 Axon Infotech PRABHUDAS LILLADHER P LTD. B 5000 25.60
14/1/2010 532380 Baba Arts GORDHAN PRABHUDAS TANWANI S 436736 12.18
14/1/2010 531937 Beckons Inds WALLFORT FINANCIAL SERVICES LTD B 145911 13.19
14/1/2010 531937 Beckons Inds WALLFORT FINANCIAL SERVICES LTD S 145911 13.34
14/1/2010 532230 Bengal Tea GUPTA RAMESH KUMAR B 50000 67.55
14/1/2010 512253 Bio Green Inds EPOCH MERCANTILES PVT LTD B 42000 14.09
14/1/2010 531932 CG Impex VARSHABEN NAVINBHAI SONI S 97994 6.04
14/1/2010 531932 CG Impex PRAFULLABEN AMRUTBHAI SONI S 50272 6.06
14/1/2010 532363 Compulearn PRABHAKARA RAO PILLI B 74793 29.30
14/1/2010 532363 Compulearn HITESH SHASHIKANT JHAVERI B 173564 29.73
14/1/2010 532363 Compulearn PRABHAKARA RAO PILLI S 72091 29.26
14/1/2010 532363 Compulearn HITESH SHASHIKANT JHAVERI S 147704 29.66
14/1/2010 532772 Dev Credit Bank SUNDARAM EQUITY MULTIPLIER FUND S 1220154 39.50
14/1/2010 531144 EL Forge BALASUBRAMANIAM SHANKAR B 62543 31.85
14/1/2010 530337 Exelon Infra ASHLESH GUNVANTBHAI SHAH B 50000 47.75
14/1/2010 530337 Exelon Infra PARESHRAMJI BHAI CHAUHAN B 50000 47.75
14/1/2010 530337 Exelon Infra PARESH PRAVINCHANDRA SHAH B 53000 53.92
14/1/2010 530337 Exelon Infra PARESH PRAVINCHANDRA SHAH S 53000 47.76
14/1/2010 530337 Exelon Infra MADHU CHHAPARIA S 52521 52.41
14/1/2010 532379 Firstobject Tech ASHISH NITIN PARIKH S 99846 35.12
14/1/2010 514167 Ganesh Poly SABANA MASARIYA B 50000 37.90
14/1/2010 524226 Gujarat Ambuj Ex ABHISHEK VIJAYKUMAR SHAH B 772791 30.48
14/1/2010 524226 Gujarat Ambuj Ex ABHISHEK VIJAYKUMAR SHAH S 772791 30.61
14/1/2010 507960 Gujarat Hotels ABHISHEK VIJAYKUMAR SHAH B 69603 77.12
14/1/2010 507960 Gujarat Hotels ABHISHEK VIJAYKUMAR SHAH S 69603 77.75
14/1/2010 523277 GV Films N JAYAKUMAR NATARAJAN S 2514058 2.90
14/1/2010 531025 Inca Finlease RASHEL AGROTECH S 18600 83.11
14/1/2010 517370 Incap PAMULAPATI HIMABINDU B 29000 16.80
14/1/2010 517370 Incap MANDAVA VENKATARAMAIAH S 29000 16.80
14/1/2010 504786 Investment & Prec BASANT SUSHILA B 30000 149.75
14/1/2010 504786 Investment & Prec BHAGWANDAS SHAH VIMAL S 30000 149.75
14/1/2010 523844 Invicta Meditek R SREEKUMAR S 45000 10.37
14/1/2010 531398 Inwinex Pharma UTTAM BHARAT BAGRI B 5400 19.56
14/1/2010 531398 Inwinex Pharma MADHUKAR MEGHASHAM RUPJI S 5000 19.56
14/1/2010 512405 Ipower Solutions KONIDALA NEERAJA B 30770 12.08
14/1/2010 512405 Ipower Solutions BAKLIWAL FINANCIAL SERVICES INDIA PVT. LTD. S 42000 12.08
14/1/2010 523467 Jai Mata Glass ASMAH SHARES & STOCK BROKERS PVT LTD B 300223 2.87
14/1/2010 523467 Jai Mata Glass RAJ KUMAR AGARWAL B 70000 2.87
14/1/2010 523467 Jai Mata Glass SARITA GOVIND YADAV B 100000 2.87
14/1/2010 523467 Jai Mata Glass DHEERAJ KUMAR B 100000 2.87
14/1/2010 523467 Jai Mata Glass DHEERAJ LOHIA B 100000 2.87
14/1/2010 523467 Jai Mata Glass WINWIN SECURITIES PVT LTD B 205000 2.87
14/1/2010 523467 Jai Mata Glass MADHU DOSHI B 100000 2.78
14/1/2010 523467 Jai Mata Glass JMP SECURITIES PVT LTD B 405301 2.87
14/1/2010 523467 Jai Mata Glass NIRMAL MAHTO B 132001 2.86
14/1/2010 523467 Jai Mata Glass SHASHI BALA AGARWAL B 100000 2.87
14/1/2010 523467 Jai Mata Glass KOMAL MAHENDRU B 200000 2.85
14/1/2010 523467 Jai Mata Glass MANSI MILAN CHOKSI B 150009 2.87
14/1/2010 523467 Jai Mata Glass KUNTAL NARECHANIA B 150000 2.87
14/1/2010 523467 Jai Mata Glass ASMAH SHARES & STOCK BROKERS PVT LTD S 250223 2.87
14/1/2010 523467 Jai Mata Glass GROWMORE PROPERTIES PVT LTD S 4509892 2.86
14/1/2010 523467 Jai Mata Glass JMP SECURITIES PVT LTD S 109301 2.87
14/1/2010 524826 Jupiter Biosc ANGEL INFIN PRIVATE LIMITED B 77392 96.91
14/1/2010 590041 Kavveri Telecom DHIRAJLAL V SANGHVI HUF B 50368 87.08
14/1/2010 530255 KAY Power KAUSHALYA GARG B 53270 13.55
14/1/2010 532758 KEW Inds ABHISHEK VIJAYKUMAR SHAH B 356607 16.93
14/1/2010 532758 KEW Inds MUKESH MITTAL B 95950 17.65
14/1/2010 532758 KEW Inds AJAY GUPTA B 145000 17.53
14/1/2010 532758 KEW Inds ABHISHEK VIJAYKUMAR SHAH S 356008 17.54
14/1/2010 507598 KLRF HEMANT KUMAR GUPTA B 26450 26.90
14/1/2010 526379 Konkan Tyres RISHABH RAJENDRA JAIN B 30000 6.36
14/1/2010 505299 Kulkarni Power HITESH RAMJI JAVERI S 19899 76.39
14/1/2010 504258 Lakshmi Elect VALLA KATI B 19642 261.94
14/1/2010 504258 Lakshmi Elect SAINATH HERBAL CARE MARKETING P.LTD B 23727 261.90
14/1/2010 504258 Lakshmi Elect VALLA KATI S 19642 261.92
14/1/2010 524000 Magma Fin ABN AMRO BANK NV B 110000 220.09
14/1/2010 590111 MASTER PUNIT KAPOOR S 29861 59.59
14/1/2010 532440 MPS KIRTIKUMAR KANTILAL SHAH B 88714 78.92
14/1/2010 526169 Multibase India VISHAL DIPAK SHAH S 128183 38.88
14/1/2010 526169 Multibase India COPTHALL MAURITIUS INVESTMENT LIMITED S 80260 38.91
14/1/2010 531832 Nagarjuna Agri Tch J.F.S.L.ARBITRAGE & JOBBING A/C B 63300 6.39
14/1/2010 531832 Nagarjuna Agri Tch CARWIN MERCANTILES PVT LTD S 119700 6.39
14/1/2010 532854 Nitin Fire RESHMA NAYANKUMAR SHAH B 74318 360.55
14/1/2010 532854 Nitin Fire RESHMA NAYANKUMAR SHAH S 68318 367.31
14/1/2010 531496 Omkar Overseas PAWAR RAVI VASANTBHAI B 25000 50.00
14/1/2010 517195 ORG Informatics HITESH SHASHIKANT JHAVERI B 87712 17.57
14/1/2010 524689 Parenteral Drug PISCES PORTFOLIOS PVT LTD B 50000 159.40
14/1/2010 511702 Parsharti Inv BHAVESH SHANTILAL TRIVEDI B 45004 40.57
14/1/2010 533107 PIPAVAVSHIP 2I CAPITAL PCC S 5000000 55.00
14/1/2010 500333 Pix Trans DAVINDER SETHI S 75000 44.00
14/1/2010 500333 Pix Trans INDERJEET AMARPAL SETHI S 90000 44.00
14/1/2010 500333 Pix Trans NIRMAL SETHI S 160000 44.00
14/1/2010 531746 Prajay Engr ANGEL INFIN PRIVATE LIMITED B 522988 41.27
14/1/2010 531746 Prajay Engr ANGEL INFIN PRIVATE LIMITED S 511203 41.10
14/1/2010 502587 Rama Pulp MUMBAI STOCK BROKERS PVT LTD B 50000 37.25
14/1/2010 502587 Rama Pulp PRABHA FARMS PVT LTD S 50000 37.25
14/1/2010 507490 Rana Sugars KII LTD S 1900000 15.10
14/1/2010 530271 Rich Capital SCOPE VYAPAR PRIVATE LIMITED B 45000 85.66
14/1/2010 530271 Rich Capital JHUNJHUNWALA VANASPATI LTD S 45000 85.61
14/1/2010 533083 RISHABHDEV YOGESH JAISWAL B 141397 16.56
14/1/2010 517447 RS Software HITESH SHASHIKANT JHAVERI B 100194 67.35
14/1/2010 517447 RS Software HITESH SHASHIKANT JHAVERI S 70006 67.35
14/1/2010 500372 Samtel Color ABHISHEK VIJAYKUMAR SHAH B 458776 23.74
14/1/2010 500372 Samtel Color ABHISHEK VIJAYKUMAR SHAH S 458776 24.11
14/1/2010 505141 Scooters India Naman Securities & Finance Pvt. Ltd. B 11139 43.87
14/1/2010 505141 Scooters India Naman Securities & Finance Pvt. Ltd. S 13136 44.10
14/1/2010 531693 Shri Ganesh Spi SNEHAL VIJAY DEVLEKAR S 258591 10.08
14/1/2010 526479 SKY Inds MANOJ RAMESHCHANDRA SHAH S 20000 85.04
14/1/2010 532293 Software Tech DHEERAJ LOHIA B 67874 9.50
14/1/2010 532293 Software Tech BDS SHARE BROKERS PVT LTD B 111659 9.25
14/1/2010 532293 Software Tech OMPRAKASH CHUGH S 80000 8.83
14/1/2010 532293 Software Tech BDS SHARE BROKERS PVT LTD S 134584 9.23
14/1/2010 532669 Southern Onlin ROYAL BANK OF SCOTLAND PLC AS TRUSTEE OF B 232350 26.50
14/1/2010 532669 Southern Onlin DHAN STOCK & SHARE BROKERS PVT LTD S 213975 26.50
14/1/2010 502465 Speciality Pap MAN GLOBAL LIMITED B 106368 24.53
14/1/2010 590047 Sunderam Multi STANDARD CHARTERED BANK (MAURITIUS) LIMITED A/C EMERGING IND B 600000 45.50
14/1/2010 590047 Sunderam Multi KAVITA HIMANSHU AJMERA S 600000 45.50
14/1/2010 524156 TCM MURALIDHARAN TP B 38000 22.05
14/1/2010 530595 Telecanor Glob PURVESH MUKESHKUMAR SHAH B 37018 25.56
14/1/2010 530595 Telecanor Glob OMPRAKASH KANAYALAL SHAH S 60000 24.67
14/1/2010 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. B 117869 417.54
14/1/2010 533121 THINKSOFT OPG SECURITIES P LTD B 84977 419.37
14/1/2010 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. S 117869 417.78
14/1/2010 533121 THINKSOFT OPG SECURITIES P LTD S 84977 419.42
14/1/2010 531830 Todays Writing PAM PHARMA & ALLIED MACH S 71000 26.07
14/1/2010 531917 Twinstar Soft SANTOSH DESHMAL OSWAL S 100000 5.61
14/1/2010 522091 United Van Der MEENA SURESH TREVADIA B 20000 39.81
14/1/2010 522091 United Van Der AAP INVESTMENTS B 31800 40.19
14/1/2010 526987 Urja Glob SANJAY MANAHAR VAZIRANI B 18700 64.47
14/1/2010 530459 Valson Inds KINNMANN ENTERPRISE B 21000 33.95
14/1/2010 530459 Valson Inds ROHNIL BORADIA B 47177 32.02
14/1/2010 530459 Valson Inds ROHNIL BORADIA S 47177 32.37
14/1/2010 530459 Valson Inds SUNIL NANAKCHAND MUTREJA S 80765 31.53
14/1/2010 530459 Valson Inds RITA SUNIL MUTREJA S 25000 29.11
14/1/2010 530459 Valson Inds NANDLAL NANKCHNAD MUTREJA HUF S 55000 33.41
14/1/2010 530459 Valson Inds MALKA NANDLAL MUTREJA S 175093 31.10
14/1/2010 530459 Valson Inds DHARMENDRA NANAKCHAND MUTREJA S 32610 32.17
14/1/2010 531518 Vikas Granaries J.F.S.L.ARBITRAGE & JOBBING A/C S 91850 39.27
14/1/2010 532411 Visesh Info ANKITA VISHAL SHAH B 239650 9.77
14/1/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR B 51005 390.84
14/1/2010 531249 Well Pack Papers PANDYA YAMINIBEN M B 40705 391.02
14/1/2010 531249 Well Pack Papers NAVNATH SAKHARAM GHONE B 24790 391.33
14/1/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR S 44071 391.09
14/1/2010 531249 Well Pack Papers PANDYA YAMINIBEN M S 33332 391.07
14/1/2010 522029 Windsor Mach BHAIRUJEE STOCK FUND B 79739 40.90
14/1/2010 522029 Windsor Mach HITESH SHASHIKANT JHAVERI S 89251 40.64
14/1/2010 532795 Wire & Wireless A.K.G. STOCK BROKERS PVT. LTD. B 1156805 21.74
14/1/2010 532795 Wire & Wireless A.K.G. STOCK BROKERS PVT. LTD. S 1156805 21.75
* B - Buy, S - Sell
NSE Bulk Deals to Watch - Jan 14 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
14-Jan-10,AMDIND,AMD Industries Limited,TRANSGLOBAL SECURITIES LTD.,BUY,144862,33.88,-
14-Jan-10,GOLDTECH,Goldstone Tech Ltd.,HEMANT MADHUSUDAN SHETH,BUY,130000,37.9,-
14-Jan-10,MAGMA,Magma Fincorp Limited,ABN AMRO BANK N.V. LONDON BRANCH,BUY,190000,216.18,-
14-Jan-10,MPSLTD,MPS Limited,KIRTIKUMAR KANTILAL SHAH,BUY,97445,78.35,-
14-Jan-10,NITINFIRE,Nitin Fire Protection Ind,SHRADDHA NILESH MEHTA,BUY,82824,359.66,-
14-Jan-10,OMNITECH,Omnitech Infosolutions Li,PRIMORE SOLUTIONS PVT.LTD,BUY,55137,176.02,-
14-Jan-10,ORBITCORP,Orbit Corporation Limited,BLACKSTONE ASIA ADVISORS LLC,BUY,283000,320,-
14-Jan-10,ORIENTALTL,Oriental Trimex Limited,SHASHI KANT AGARWAL,BUY,40079,22.01,-
14-Jan-10,PIPAVAVYD,Pipavav Shipyard Ltd,MONEY MATTERS ADVISORY SERVICES LTD ,BUY,4020000,55,-
14-Jan-10,PRAENG,Prajay Engineers Syndicat,BHAVIN Y MEHTA,BUY,285010,41.09,-
14-Jan-10,PRAENG,Prajay Engineers Syndicat,BP FINTRADE PRIVATE LIMITED,BUY,276802,40.95,-
14-Jan-10,PRAENG,Prajay Engineers Syndicat,VIJIT SHARES AND COMMODITIES PVT.LTD.,BUY,222912,41.12,-
14-Jan-10,RSSOFTWARE,R. S. Software (I) Ltd.,DYNAMIC STOCK BROKING (I) PRIVATE LIMITED,BUY,53320,67.03,-
14-Jan-10,RUCHINFRA,Ruchi Infrastructure Ltd.,MADHUKAR SHETH,BUY,1563463,60.47,-
14-Jan-10,STOREONE,Store One Retail Ind Ltd,BP FINTRADE PRIVATE LIMITED,BUY,64893,48.56,-
14-Jan-10,STOREONE,Store One Retail Ind Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,112459,49.46,-
14-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,137241,417.76,-
14-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,CPR CAPITAL SERVICES LTD.,BUY,62187,418.27,-
14-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,DAVINDER KUMAR JAIN,BUY,59000,420.99,-
14-Jan-10,VISESHINFO,Visesh Infotecnics Limite,ANKITA VISHAL SHAH,BUY,257747,9.77,-
14-Jan-10,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,2045482,21.74,-
14-Jan-10,AMDIND,AMD Industries Limited,SHREYASH M PATEL,SELL,620425,32.25,-
14-Jan-10,AMDIND,AMD Industries Limited,TRANSGLOBAL SECURITIES LTD.,SELL,144872,33.99,-
14-Jan-10,ASIANELEC,Asian Electronics Ltd,SHAH INVESTMENTS FINANCIAL DEV & CON PRIVATE LIMIT,SELL,220000,41.33,-
14-Jan-10,ASTEC,Astec LifeSciences Ltd,MAVI INVESTMENT FUND LIMITED,SELL,246000,88,-
14-Jan-10,MPSLTD,MPS Limited,KIRTIKUMAR KANTILAL SHAH,SELL,78505,78.11,-
14-Jan-10,NITINFIRE,Nitin Fire Protection Ind,SHRADDHA NILESH MEHTA,SELL,82824,364.41,-
14-Jan-10,OMNITECH,Omnitech Infosolutions Li,PRIMORE SOLUTIONS PVT.LTD,SELL,73586,177.19,-
14-Jan-10,ORBITCORP,Orbit Corporation Limited,KEN SECURITIES LTD,SELL,350000,320,-
14-Jan-10,ORIENTALTL,Oriental Trimex Limited,SHASHI KANT AGARWAL,SELL,201841,21.69,-
14-Jan-10,PIPAVAVYD,Pipavav Shipyard Ltd,2I CAPITAL PCC,SELL,5000000,55,-
14-Jan-10,PRAENG,Prajay Engineers Syndicat,BHAVIN Y MEHTA,SELL,285010,41.37,-
14-Jan-10,PRAENG,Prajay Engineers Syndicat,BP FINTRADE PRIVATE LIMITED,SELL,266777,40.94,-
14-Jan-10,PRAENG,Prajay Engineers Syndicat,VIJIT SHARES AND COMMODITIES PVT.LTD.,SELL,195912,40.99,-
14-Jan-10,RANASUG,RANA SUGARS LTD,KII LTD.,SELL,1900000,15.11,-
14-Jan-10,RSSOFTWARE,R. S. Software (I) Ltd.,DYNAMIC STOCK BROKING (I) PRIVATE LIMITED,SELL,27130,67.04,-
14-Jan-10,STOREONE,Store One Retail Ind Ltd,BP FINTRADE PRIVATE LIMITED,SELL,100509,46.25,-
14-Jan-10,STOREONE,Store One Retail Ind Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,110758,49.34,-
14-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,137241,417.93,-
14-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,CPR CAPITAL SERVICES LTD.,SELL,62187,418.12,-
14-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,DAVINDER KUMAR JAIN,SELL,31000,421.22,-
14-Jan-10,TODAYS,Todays Writing Products L,PAM PHARMACEUTICAL& ALLIED MACHINERYCO PVTLTD,SELL,89000,26.03,-
14-Jan-10,VISESHINFO,Visesh Infotecnics Limite,ANKITA VISHAL SHAH,SELL,182747,9.84,-
14-Jan-10,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,2045482,21.77,-
Infy, IIP effect continue
Today's major news
Union Bank in talks to buy Indonesian banks; the stock closes 1.14% lower
Hotel Leela Venture mulls Rs3,000 crore capital expenditure; the stock rises 0.89%
Era Infra Engineering bags Rs1,659 crore contract; the stock jumps 2.11%
Punj Lloyd Group wins its first offshore project in Thailand; the stock shots up 4.78%
Orient Paper & Industries’ Q3 net profit declined by 44%; the stock plunges 6.00%.
Click here for more stories
Post-market summary
Global signals
European indices are trading higher in morning trade, as drugmakers gain. At the time of writing this report, FTSE 100 is trading 0.47% higher.
All major Asian indices closed higher except Hang Seng, which closed lower by marginal 0.15%. SGX Nifty closed 15 points up.
US stock futures opened mixed on Thursday, as investors are cautious ahead of Intel earnings.
Indian indices
Capitalising on buoyant global cues, Indian indices closed higher on second straight session on gains in heavyweights like Reliance Industries, Oil and Natural Gas Commission (ONGC) and Wipro. The Sensex opened 16 points higher at 17526 and never looked back. The day’s high was 17628 and the index closed at 17585, 75 points higher over its yesterday’s close. Nifty closed 26 points higher at 5260.
Market sentiment
The number of advancing shares was almost twice that of declining shares. Of the 2,975 stocks traded on the BSE, 1,929 stocks advanced, whereas 980 stocks declined. Sixty Six stocks closed unchanged
Sectoral & stock screening
Fast moving consumer goods stocks were hit the most with the BSE FMCG down by 0.5%. With the likelihood of policy intervention by the Reserve Bank of India increasing, banking and realty, the sectors first to feel the heat, saw the BSE Bankex and BSE Realty down by 0.07% and 0.26% respectively. IT stocks that ran away since Infosys Techonologies’ Q3 earning results seemed to slow down their pace with the BSE IT up by 0.19%. BSE Oil & Gas led the chart of toppers with the BSE Oil & Gas up by 2.35% followed by BSE CD that surged 1.65%.
On stocks’ front, Sterling Biotech surged the most by 9.46% followed by Koutons Retail that rose by 7.08% and Tata Tele Services that jumped 6.04%. Among losers, Sintex Industries slid the most by 3.25% followed by Hindustan Unilever that fell 2.86%.
Viewing volumes
GTL Infrastructure saw highest trading with over 1.23 crore shares changing hands on the BSE to be followed by telecom service provider, Tata Tele Services (0.72 crore shares), Unitech, India’s second biggest realty company, (0.55 crore shares), wind turbine maker Suzlon Energy (0.54 crore shares) and Ispat Industries (0.51 crore shares).
JSW Steel January 2010 futures at premium
Turnover drops
Nifty January 2010 futures were at 5,261.90, at a premium of 2 points as compared to the spot closing of 5,259.90. Turnover in NSE's futures & options (F&O) segment was Rs 56,287.13 crore, much lower than Rs 70,881.61 crore on Wednesday, 13 January 2010.
JSW Steel January 2010 futures were at premium at 1,184.10 compared to the spot closing of 1,180.
ICICI Bank January 2010 futures were at premium at 838 compared to the spot closing of 836.
Reliance Industries January 2010 futures were at discount at 1,118.70 compared to the spot closing of 1,121.05.
In the cash market, the S&P CNX Nifty gained 25.95 points or 0.50% at 5,259.90.
Asian markets finishes higher
Sydney, Sensex, Shanghai close in green while Hang Seng continues to linger in red
Stock markets in Asian region finished mostly higher on Thursday, 14 January 2010, as most of the regional markets step in Wall Street shoes where markets put up good gains ahead of earning season. Stock market in Australia, South Korea, China, India edged higher while markets in Hong Kong bucked the regional trend.
On Wall Street, stocks closed higher as surging financial, chip and health care stocks outpaced the energy sector ahead of much anticipated earnings news. The Dow Jones Industrial Average added 54 points or 0.5% at 10,681. The S&P 500 rose 9 points, or 0.8%, at 1146, and the Nasdaq went ahead by 26 points, or 1.1%, to 2308.
On the economic front, the Fed’s beige book, which offered an anecdotal snapshot of economic activity around the country, painted a modestly improving picture. Stocks maintained the day's gains after the afternoon report showed 10 of the Fed's 12 districts reported better activity or improving conditions. Eight districts gave that same appraisal in December's report. Most districts noted up ticks in 2009 holiday sales slightly greater than 2008 and cited increasing home sales.
Separately, the U.S. Treasury budget deficit narrowed to $91.9 billion in December compared with a $120.3 billion deficit in the previous month.
In the commodity market, crude oil rose, snapping three days of declines, on speculation corporate earnings in the U.S. will improve and bolster the economy, fueling consumption in the world’s biggest energy user.
Crude oil for February delivery rose as much as 54 cents, or 0.7%, to $80.19 a barrel in electronic trading on the New York Mercantile Exchange. It was at $80.12 a barrel at 4 p.m. Singapore time.
Brent crude oil for February settlement rose as much as 59 cents, or 0.8%, to $78.90 a barrel on the London-based ICE Futures Europe exchange. It was at $78.78 a barrel at 4:01 p.m. Singapore time. The contract expires at today’s settlement. The more actively traded March future gained 43 cents to $79.25 a barrel.
Gold advanced for a second day as a weak dollar helped fuel demand for bullion as a store of value. Gold for immediate delivery climbed as much as 0.7% to $1,145.65 an ounce and traded at $1,142 at 2:09 p.m. in Singapore. February-delivery futures in New York rose 0.5%.
In the currency market, currency majors were trading in confined ranges as investors looked to the European Central Bank's rate decision and press statement due later.
The Japanese yen was quoted at Y91.60 per US dollar on Thursday from yesterday quote at Y91.38 per dollar in New York.
The Hong Kong dollar was trading at HK$ 7.7565 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 rose smartly against all major currencies on Thursday after stunning jobs data boosted bets on an almost certain chance of an interest rate rise in February. At the local close, the dollar was trading at $US0.99304, from Wednesday's $US0.9227, with stop-loss buying having kicked in around $US0.9265-75.
In Wellington trade, the New Zealand dollar rose after a stronger than expected employment report in Australia made this part of the world a more attractive investment destination. The NZ dollar was US74.06c at 5pm, up from US73.92c at 8am and little changed from US74.04c at 5pm yesterday.
The South Korean won closed at 1,121.10 won to the greenback, up from yesterday 1,125.50 won.
The Taiwan dollar strengthened against the greenback. The Taiwan dollar was trading higher against the US dollar at NT$ 31.7490, 0.0190 up from Wednesday’s close of NT$31.8090.
In equities, Asian equity markets were mostly higher Thursday on Wall Street’s rally, though shares in China were lagging on continued worries over further monetary policy tightening.
In Japan, the stock market gained on Thursday, lifted by technology stocks as foreign institutional investor’s evinced fresh buying interest in the market, especially technology stocks, on optimism about sustainable recovery in Japanese economy as well as global economy. Japan Airlines attracted huge volumes on speculative trading before the impending delisting from the exchange. More than 1 billion shares of JAL were traded during the session.
The benchmark Nikkei 225 Index rose 172.65 points, or 1.61%, to 10,907.68, while the broader Topix index of all First Section issues rose 14.99 points, or 1.6%, to 959.
On the economic front, data released by the Cabinet Office revealed that core machinery orders declined by a seasonally adjusted 11.3% month-over-month in November, following a 4.5% drop in the previous month. The data surprised economists who expected a bounce back in November with a marginal 0.2% gain. On an annual basis, core machinery orders plunged 20.5% during November, following a 21% contraction in the previous month. Economists expected the orders to decline 10.1% for the month, on annual basis.
In a separate report, the Bank of Japan revealed that an index measuring the prices of domestic corporate goods in the country rose 0.1% in December compared to the previous month. The index came in line with economists expectations, after having risen 0.1% in November. On annual basis, the domestic corporate goods index or CGPI declined 3.9% during December, in line with expectations, following 4.9% decline in the previous month.
In Mainland China, shares were clawing back some of yesterday’s losses, which were sparked by The People’s Bank of China's move to hike the reserve ratio requirement for banks, but some jitters over policy tightening remained.
At the closing bell, the Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, gained 1.35% or 42.89 points, to 3,215.55, while the Shenzhen Component Index on the smaller Shenzhen Stock Exchange spurted 1.44% to 13,204.19. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, added 1.40%, to 3,469.05.
On the economic front, Chinese urban property prices rose 7.8% annually in December. According to the National Development and Reform Commission reports, in November, property price inflation was 5.7%. Month-on-month, real-estate prices in 70 cities were up 1.5% in December. Prices of new homes climbed 9.1% from the previous year and second-hand house prices rose 6.8%.
In Hong Kong, share market tried to recoup some of its previous losses, though worries over further tightening by Beijing continued to weigh on policy-sensitive banks and property developers.
At the closing bell, the Hang Seng Index tanked 31.65 points, or 0.15%, to 21,716.95, while the Hang Seng China Enterprise, which tracks the overall performance of 43 mainland Chinese state-owned enterprises on the Hong Kong Stock Exchange, dropped 118.81 points, or 0.95%, to 12,363.37.
In Australia, shares rose, led by miners, as concern that a policy tightening in China would slow demand receded, with sentiment also boosted by strong jobs data and rebounding Asian markets. At the close, the benchmark S&P/ASX200 index was 29.9 points, or 0.6%, higher at 4898, while the broader All Ordinaries index advanced 29.3 points, or 0.6%, to 4929.4.
On the economic front, Australia's jobless rate fell last month as the labor market gathered strength, building the case for further interest rate rises. According to the Australian Bureau of Statistics, the unemployment rate eased to 5.5% in December from a revised 5.6% rate in November. Australia added about 93,800 jobs in the final three months of 2009. For the year, the gain was about 100,000 - but less than the 135,000 created in 2008 when the jobless rate ended the year at 4.6%.
In New Zealand, benchmark index ended almost flat, up 0.07% to end Thursday in the positive terrain. However, the domestic share market ended its three-day losing streak to end marginally in the green region. The benchmark NZX 50 inched up 2.14 points or 0.07% to 3278.33. The index has fallen on each of the past three days, after reaching a 15-month high last Friday. However, the NZX 15 lost 11.74 points or 0.20% to close at 5950.55.
On the economic front, consents for new home building construction in New Zealand increased 3.1% in November versus the month before. Statistics New Zealand reported the data, showing the number of housing units authorized for construction was the highest since May 2008. The result followed an increase of 11% in October 2009. Statistics NZ said permits were issued for 1,458 new stand alone housing units in November, while 42 were issued for new apartment units.
In South Korea, stocks closed higher as investors brushed off concerns from China's credit-tightening measures and scooped up shares of shipbuilders and tech chips. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 14.36 points to 1,685.77.
In Taiwan, stock markets took a turnaround on Thursday as Acer hit a 10-year closing high after IDC said the company's market share rose in the fourth quarter of last year. Financial shares supported the gains in technology sector as investors turn positive ahead of a memorandum of understanding between Taiwan and China that will take effect on Saturday. The memorandum of understanding between Taiwan and China allows the island's financial firms to tap the mainland market and paves way for banks on both sides to invest in each other. The benchmark Taiex share index snapped its losing streak, by finishing the day higher by 93.42 points or 1.44% at 8289.98.
In Philippines, stocks edged higher in a listless sort of a day as traders continued to follow the global leads with the US dollar coming under a continued bout of selling and assisting the risky assets globally. Investors were seen entering into a buying mode after yesterday's losses and picked up issues in services and industrial sectors. The stocks succumbed to mild profit-taking Wednesday on global jitters arising from a potential government levy on US banks. At the final bell, the benchmark index PSEi went up 0.81% or 25.21 points to 3,121.91, while the All Shares index escalated 0.43% or 8.42 points to 1,951.53.
In India, the key indices edged higher, gaining for the second straight day on firm Asian stocks. A strong response to the initial public offer (IPO) of Infinite Computer Solutions which focuses on IT services for the telecom vertical, also underpinned sentiment. NTPC, India's largest utility by sales, rose after company said its follow-on public offer will open on 3 February 2010. Airline and capital goods stocks rose.
The BSE 30-share Sensex was up 75.07 points or 0.43% at 17,584.87. The S&P CNX Nifty was up 25.95 points or 0.50% at 5259.90.
On the economic front, the wholesale price index (WPI) rose 7.31% in December 2009 from a year earlier, sharply higher than previous month's annual rise of 4.78%, data released by the government today, 14 January 2010, showed. Food price index in WPI rose 19.17% in December 2009. Another data showed, the food price index was up 17.28% in the year to 2 January 2010. The fuel price index up 6.25% and the primary articles price index up 13.82% in the week to 2 January 2010
Elsewhere, Malaysia’s Kula Lumpur Composite index finished slightly higher at 1294.71 while stock markets in Indonesia’s Jakarta Composite index increased by 12.31 points ending the day lower at 2645.18. Singapore’s Strait Times finished the day at 2909.52 i.e. 21.14 points higher.
In other regional market, European shares climbed for the second session in a row on Thursday, as investors bought shares in mining companies after strong production figures from Rio Tinto. Overall, the U.K. FTSE 100 index climbed 0.5% or 27.55 points to 5,501, the German DAX index rose 0.52% or 30.75 points to 5,994 and the French CAC-40 index advanced 0.5% or 18.30 points to 4,019.
Sensex ends 75.07 pts, led by Oil & Gas stocks
The markets ended the day on firm note. The 30-share index, BSE Sensex did turn flat in the noon trades but pulled up a good show again towards end. A strong support was provided by BSE Oil & Gas sector. Oil stocks cheered the announcement made by Oil minister Murli Deora that the public sector oil firms would be getting some compensation for their losses in the form of cash against oil bonds
Markets however did not react much on wholesale price index which rose 7.31% in December 2009 from a year earlier.
Broader markets traded on an upbeat note. Asian stocks rose for the fourth time in five days, as a bigger-than-estimated increase in Australian jobs and a Federal Reserve survey boosted confidence in the global economic recovery. Japanese benchmark index Nikkei 225 rose 172.65 points, or 1.61%, to end at 10,907.68. Hong Kong`s Hang Seng decreased 31.65 points, or 0.15%, to end at 21,716.95.
European stocks too traded on an upbeat note. UK`s benchmark index FTSE 100 rose 25.54 points, or 0.47%, to trade at 5,499.02. French benchmark index CAC 40 increased 18.91 points or 0.47% to trade at 4,019.77. Germany`s benchmark index DAX gained 28.21 points or 0.48% to trade at 5,991.95. (4:02 p.m)
The Sensex ended the day with a gain of 75.07 points, or 0.43% at 17,584.87 after touching a high of 17,628.04 and a low of 17,525.71. The broad-based NSE Nifty gained 25.95 points, or 0.50% at 5,259.90 after hitting a high of 5,272.85 and a low of 5,232.50.
Major gainers in the 30-share index were Reliance Communications (4.07%), Wipro (3.61%), Reliance Industries (2.99%), Oil & Natural Gas Corporation (2.94%), Bharat Heavy Electricals (1.89%), and Sterlite Industries (India) (1.45%).
On the other hand, Hindustan Unilever (2.86%), Tata Power Company (2.23%), Reliance Capital (1.95%), Reliance Energy (1.25%), Hero Honda Motors (1.22%), and DLF (1.06%) were the biggest losers in the Sensex.
Overall market breadth was positive. Out of the total 2,975 shares traded at BSE, 1,929 advanced, 980 declined while 66 remained unchanged.
Major gainers in the sectoral indices were BSE Oil & Gas which climbed 2.35%, Consumer Durables climbed 1.65%, went up 1.41%, PSU gained 0.83% and Capital Goods climbed 0.76%.
Major losers in the sectoral indices were BSE FMCG which declined 0.5%, Realty that declined 0.26% and Bankex which lost 0.07%.
Market ends volatile trading session higher
The key indices edged higher, gaining for the second straight day on firm Asian stocks. The BSE 30-share Sensex was provisionally up 69.12 points or 0.39%, off close to 45 points from the day's high and up close to 55 points from the day's low. A strong response to the initial public offer (IPO) of Infinite Computer Solutions which focuses on IT services for the telecom vertical, also underpinned sentiment. NTPC, India's largest utility by sales, rose after company said its follow-on public offer will open on 3 February 2010. Airline and capital goods stocks rose.
But FMCG stocks fell. Index heavyweight Reliance Industries (RIL) galloped. India's largest private sector bank by operating income HDFC Bank recovered from lower level ahead of Q3 result on Friday 15 January 2010. PSU OMCs rose on reports state-run oil marketing companies may get cash instead of oil bonds as compensation from the government for selling fuel at below market prices. The market breadth was strong.
The market pared gains after an initial surge triggered by firm Asian stocks. The market was further off the day's high in mid-morning trade. The market regained strength in early afternoon trade as the latest data on headline inflation came in line with market expectations. However, the intraday recovery proved short-lived. The market once again pared gains in afternoon trade. It cut losses later. The market surged in mid-afternoon trade. The market cut losses after hitting a fresh intraday high.
The initial public offer of Infinite Computer Solutions was subscribed 43.22 times. The issue ended on Wednesday, 13 January 2010. Foreign institutional investors put in bids for 11.63 crore shares as compared to 40.26 lakh shares reserved for the qualified institutional investors category as a whole. The strong response by foreign funds indicates that global liquidity remains ample.
The wholesale price index (WPI) rose 7.31% in December 2009 from a year earlier, sharply higher than previous month's annual rise of 4.78%, data released by the government today, 14 January 2010, showed. Food price index in WPI rose 19.17% in December 2009. Another data showed, the food price index was up 17.28% in the year to 2 January 2010. The fuel price index up 6.25% and the primary articles price index up 13.82% in the week to 2 January 2010
The government is taking a host of measures to tame inflation, Kaushik Basu, the chief economic adviser at the finance ministry said on Thursday.
In its October 2009 policy review, the Reserve Bank raised its WPI inflation projection for end-March 2010 to 6.5%, with an upside bias, from 5% earlier. The central bank is scheduled to review its policy on 29 January 2010, and signs of strengthening growth and a surge in headline inflation have the market factoring in tighter policy, including possible increases in interest rates.
Data early this week showed that industrial output grew at its fastest pace in two years in November 2009, rising 11.7%. The Indian economy is expected to grow by around 7.75% in the fiscal year to March 2010, but food price inflation is a major concern, Finance Minister Pranab Mukherjee said on Wednesday.
The head of the Asian Development Bank Haruhiko Kuroda warned it was too early for Asian countries to end stimulus policies started during the financial crisis and said he saw no big risk of price bubbles in China. Kuroda said on Thursday that policymakers still needed to restore demand and stabilise financial systems to support the economic recovery.
Closer home, the government may reportedly revert to pre-slowdown indirect tax rates in two phases beginning April 2010 as the government weighs likely harm to the ongoing economic recovery if a rollback is done at one go with the urgent need to move towards greater fiscal prudence. A suggestion to undertake a partial rollback figured in the first round of pre-Budget consultations between Prime Minister Manmohan Singh, finance minister Pranab Mukherjee and other policymakers recently. With the economy now on a firmer footing and industrial output growth strong, officials are looking to roll back the measures taken as part of the fiscal stimulus to shield the economy from the global recession. While those measures helped realise the primary goal, they pushed fiscal deficit to a 16-year high of 6.8% of the GDP.
The government has extended duty-free imports of white sugar by nine months to 31 December 2010 as it looks to cover a supply shortfall, but has adequate wheat and rice stocks, Farm Minister Sharad Pawar said on Wednesday.
Speaking after a cabinet panel reviewed food prices, Pawar said the federal government would allow millers outside Uttar Pradesh state to process raw sugar held up in ports after the Uttar Pradesh state government, under pressure from cane farmers, banned processing of the raws. The government is struggling to contain rising food prices, with food inflation hovering near 20% in December 2009. Duty-free imports of white sugar were earlier allowed up to 31 March 2010, while raw sugar shipments, without any import duty, are already allowed up to 31 December 2010. Pawar said states needed to take stern action against hoarding to help arrest rising food prices. He also said the country had more than adequate stocks of wheat and rice.
European shares advanced for a second straight session on Thursday, led higher by banks and miners, ahead of the European Central Bank's rate decision and more earnings results this week from US companies. The key benchmark indices in France, Germany and UK were up by between 0.4% to 0.56%.
Investors awaited a rate decision by the European Central Bank, which is set to start 2010 by flagging that interest rates will remain at a record low of 1% for some time, casting the bank's view on Greece's current debt troubles into the spotlight.
Asian stocks rose on Thursday, led by mining and finance companies, as a bigger-than-estimated increase in Australian jobs boosted confidence in the global economic recovery. The key benchmark indices in China, Indonesia, Japan, South Korea, Singapore and Taiwan rose by between 0.73% to 1.61%.But, Hong Kong's Hang Seng fell 0.15%.
Japanese wholesale prices fell 3.9% in the year to December, matching a median estimate from analysts, in a sign of persistent deflation due to weak domestic demand.
Trading in US index futures indicated a flat opening of US stocks on Thursday, 14 January 2010. Earlier in the day, US index futures were in green
US stocks closed higher on Wednesday. It was a fresh 15-month closing high for the Dow Jones Industrial Average which rose 53.51 points, or 0.50%, to 10,680.77. The Standard & Poor's 500 Index gained 9.46 points, or 0.83%, to 1,145.68. The Nasdaq Composite Index rose 25.59 points, or 1.12%, to 2,307.90.
In data released yesterday, the Federal Reserve said in its Beige Book regional business survey that the economy improved in 10 of the Fed's 12 districts last month, marking a broadening of the recovery. US economic activity remained at a low level as 2010 began but was improving modestly and beginning to broaden out to include wider swaths of the country, the Federal Reserve said on Wednesday. The US treasury department said the government racked up $ 91.85 billion budget deficit in December, a record for the month, marking a record 15th straight month of government red ink.
Two top Federal Reserve policy-makers said on Wednesday that the US central bank will need to be certain the economic recovery is firmly in place before tightening its monetary policy stance. New York Federal Reserve Bank President William Dudley and Chicago Federal Reserve Bank President Charles Evans said continued credit problems and a high rate of unemployment are constraints on the US economic recovery.
The Fed has slashed rates to near zero and pumped over $1 trillion into the financial system to prevent banking failures and pull the economy out of the worst recession in decades. It has pledged to keep rates ultra-low for a long time to nurture the recovery. Evans, who is not a voter on the Fed's policy-setting panel this year, also said policymakers would have to see convincing signs of healing in labor markets, where the jobless rate has been stuck at 10%, before tinkering with policy. Steps to withdraw the Fed's extraordinary support for the economy, including raising rates or withdrawing liquidity from the system, are unlikely "any time soon," Evans said.
The Fed's next policy meeting is on 26-27 January 2010, and it is not expected to make changes to rates or its promise to keep borrowing costs at rock-bottom levels for an extended period. The comments from Evans and Dudley, seen in the middle ground between the US central bank's anti-inflation hawks and pro-growth doves, suggest the central bank is in no rush to move toward raising interest rates.
Closer home, as per provisional figures, the BSE 30-share Sensex was up 69.12 points or 0.39% at 17,578.92. The barometer opened 15.91 points higher 17,525.71, which is also the day's low so far. At the day's high of 17,628.04, the Sensex rose 118.24 points in mid-afternoon trade.
The S&P CNX Nifty was up 25.45 points or 0.49% at 5259.40 as per provisional figures.
The BSE Mid-Cap index rose 0.89% and the BSE Small-Cap index rose 1.21%.
The market breadth, indicating the overall health of the market was strong. On BSE, 1884 shares advanced compared with 1014 that declined. A total of 62 shares remained unchanged.
Among the 30-member Sensex pack, 15 rose while rest fell.
BSE clocked a turnover of Rs 6184 crore, lower than Rs 6545.71 crore on Wednesday, 13 January 2010.
NTPC, India's largest utility by sales, rose 0.61% after company said on Thursday its follow-on public offer of 41.22 crore shares, or 5% in the company, will open on 3 February 2010 and close on 5 February 2010. The government holds an 89.5 % stake in NTPC.
Index heavyweight Reliance Industries (RIL) rose 2.83%, extending last two days' gains. RIL early this week raised $763 million through a block sale of 3.3 crore shares. RIL raised $763 million through a block sale of 3.3 crore shares on Monday
Reliance, which is bidding for bankrupt LyondellBasell Industries, had previously sold treasury shares to state-owned insurer Life Insurance Corp of India raising $577 million. As per reports last week, Reliance had sweetened its offer to buy a controlling stake that valued LyondellBasell at $13.5 billion.
PSU OMCs rose on reports state-run oil marketing companies may get cash instead of oil bonds as compensation from the government for selling fuel at below market prices. HPCL and Indian Oil Corporation rose by between 0.57% to 1.47%. But BPCL fell 0.67%.
Capital goods stocks rose on expectation of better Q3 December results. Among capital goods stocks, Bharat Heavy Electricals, ABB, Thermax, SKF India and Crompton Greaves, rose by between 0.62% to 4.01%.
India's largest engineering & construction firm by sales Larsen & Toubro fell 0.33%. The company said recently it has received contracts worth Rs 2,325 crore for commercial and residential construction in Maharashtra, Gujarat, West Bengal and Chandigarh
India's largest private sector bank by operating income HDFC Bank fell 0.3% to Rs 1,685.50, ahead of Q3 result on Friday 15 January 2010. Nevertheless, the stock came off the day's low of Rs 1,670. Analysts expect 30% growth in HDFC Bank's net profit at a little over Rs 800 crore in Q3 December 2009 over Q3 December 2008. A strong growth in consumer loans, especially auto loans, is seen driving growth at the private sector bank. HDFC bank had reported net profit of Rs 621.74 crore in Q3 December 2008.
FMCG stocks fell on profit taking. Dabur India, Tata Tea and Hindustan Unilever fell by between 0.43% to 2.73%.
Airline stocks rose on reports air traffic saw a whopping 33% increase with 44.8 lakh people flying within India in December 2009 against 33.7 lakh in December 2008. SpiceJet (up 4.48%), Kingfisher Airlines (up 4.61%), Jet Airways (up 0.38%), soared.
Orient Paper & Industries dropped 3.56%, after the company's net profit plunged 53.11% to Rs 30.14 crore in Q3 December 2009 over Q3 December 2008.
Nitin Fire Protection Industries jumped 6.15% after the company said its board will meet on 20 January 2010 to consider foraying in the European market through a wholly owned subsidiary of the company.
Bullion metals shine
Prices rise as dollar slips
Precious metal prices shone on Wednesday, 13 January 2010. Prices rose as the dollar stayed relatively weak for the entire day though at the end, it just managed to pare most of its losses.
Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa.
On Wednesday, gold for February delivery ended at $1,136.8 an ounce, higher by $7.4 (0.65%) an ounce on the New York Mercantile Exchange. Last week, it had ended higher 3.9%. Year to date in FY 2010, gold has risen by almost 3.8%.
Last year, after hitting a low at $807.30 per ounce on 15 January 2009, gold futures rallied almost 51% to hit an all-time high at $1217.40 per ounce during early December of 2009 but fell from those levels at the end.
On Wednesday, March Comex silver futures ended higher by 42 cents (2.3%) at $18.67 an ounce. Last week, silver ended higher by 9.6%. Year to date in FY 2010, silver has risen by almost 10.7%.
Silver futures had hit a low at $10.42 on 15 January 2009 and hit a high at $19.30 per ounce on 2 December 2009. Like gold, silver also ended lower than its all time high level.
In the currency market on Wednesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell by almost 0.2%.
The Fed's latest Beige Book stated today that economic activity is still low in US, but improving. It also stated that credit quality is still worsening, though.
Gold had ended FY 2009 higher by 24%. Silver futures had ended 2009 up 50%. The dollar index had lost 4.2% against its counterparts last year.
At the MCX, gold prices for February delivery closed lower by Rs 85 (0.5%) at Rs 16,793 per ten grams. Prices rose to a high of Rs 16,848 per 10 grams and fell to a low of Rs 16,655 per 10 grams during the day's trading.
At the MCX, silver prices for March delivery closed Rs 305 (1.1%) higher at Rs 28,298/Kg. Prices opened at Rs 28,030/kg and rose to a high of Rs 28,349/Kg during the day's trading.
Bartronics India
We recommend a buy in Bartronics India from a short-term perspective. It is apparent from the charts of the stock that following medium-term corrective downtrend from July 2009 high to October 2009 low (from Rs 193 to Rs 130), the stock found support between Rs 130 and Rs 140. The stock bounced and has been on medium-term uptrend since October. On January 5, it penetrated its medium-term downtrend-line and conclusively surpassed 21- and 50-day moving averages. The stock continues to move higher and appears to have resumed the intermediate-term uptrend that has been in place from March low of Rs 61. The stock is trading well above its 21- and 50-day moving averages. We notice that the current rally has been backed by good volumes. The daily relative strength index (RSI) is featuring in the bullish zone and weekly RSI is heading towards this zone in the neutral region. Moreover, the daily moving average convergence and divergence indicator is steadily rising in the positive territory. Our short-term outlook is bullish for the stock. We expect it to move up until it hits our price target of Rs 183. Traders with short-term perspective can consider buying the stock while maintaining stop-loss at Rs 157.
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