ICICI Bank

ICICI Bank

Punj LLoyd

Punj LLoyd

Top 10 Midcap Ideas for 2010

Top 10 Midcap Ideas for 2010

ALL The 2010 STOCK PICKS

Cadbury reiterates rejection to Kraft bid

Cadbury re-stated its rejection of the US$10bn (£6.1bn) hostile bid from Kraft and published details of an outstanding performance in 2009 that it hopes will bolster its dismissal of the proposal as derisory. The UK confectioner has been fighting to retain its independence since the first approach from the US giant in September. With the approach of the early February deadline for shareholders to make up their minds on the offer, Cadbury reported chocolate sales up 7%, gum up 2% and sweets up 5% over the past 12 months.

Kraft, which has made a US$17bn takeover bid for Cadbury said it expected 2009 earnings per share of at least US$2 per share, up from its earlier estimate of at least US$1.97 per share. Analysts expected the company to earn US$2 in 2009. "We are well positioned to deliver sustainable top-tier performance, with or without Cadbury," Kraft Foods' Chairman and CEO Irene Rosenfeld said in a statement. Kraft has until January 19 to raise its cash-and-stock bid, now worth about 762 pence per Cadbury share.

Hershey Co. is stepping up efforts to prepare a bid for Cadbury and plans to make a decision after Kraft's final offer for the UK chocolate maker. Hershey has been in talks with credit-ratings companies in recent days about how to structure a bid without imperiling its investment-grade debt rating. It’s also been drafting commitment letters with its lenders, JPMorgan Chase and Bank of America, to secure a multi-billion-dollar loan package

China surprises with 50 bps hike in reserve ratio

The People's Bank of China (PBOC) increased bank reserve ratios and nudged interest rates higher in the interbank market for the second time in a week in a clear sign that policymakers are trying to cool the rapid economic growth. Authorities in Beijing seem to be concerned about the dangers that inflation poses to the world's fastest-growing major economy. The central bank ordered a boost in the yuan reserve requirement ratio for banks by 50 basis points, or half a percentage point, effective Jan. 18, according to a statement on its Web site. The current ratio is 15.5% for large banks and 13.5% for smaller banks. It was the first increase in the reserve-requirement ratio since Beijing began a massive economic stimulus program in November 2008. The announcement came after the financial markets in China had closed on January 12.

The PBOC didn't give a reason for its decision to raise the reserve ratio, but the move signals that Beijing is increasingly worried that the rapid increase in lending could fuel asset bubbles and raise the risk of inflation. In a statement posted on its Web site, the PBOC said that the proportion of funds that rural credit cooperatives must deposit with the central bank will remain unchanged, to help support spring farming. The announcement follows the Chinese central bank's decision to raise the yield on its one-year bills on January 12 for the first time in five months after a similar move on another benchmark sale on January 7.

Obama slaps 'bailout' tax on financial firms

US President Barack Obama proposed a plan to tax financial companies that took bailout funds from Washington to keep them from collapsing like Lehman Brothers. The legislation is necessary to make sure Wall Street banks return the money they accepted in full. As per the Obama proposal, Wall Street banks are liable to pay up to US$117bn to reimburse taxpayers for the financial bailout, as he slammed bankers for their massive profits and obscene bonuses. "My commitment is to recover every single dime the American people are owed," Obama said at the White House yesterday, flanked by members of his economic team. "We want our money back and we are going to get it," he said. "My determination to achieve this goal is only heightened when I see reports of massive profits and obscene bonuses at some of the very firms who owe their continued existence to the American people," Obama told reporters.

The fee calls for a levy of 0.15 of a percentage point on the balance sheets of companies with assets exceeding US$50bn. It is also aimed at helping to reduce the ballooning US budget deficit. The assessment on excess liabilities at big firms is designed to raise about US$90bn over 10 years. It would remain in place for at least 10 years, or until all losses from the Troubled Asset Relief Program (TARP) were repaid. Ten firms will pay 60% of the tax. The fee would need to be approved by Congress. Full details of the fee proposal will not be laid out until Obama delivers his budget for fiscal 2011 in early February.

The special assessment would apply to about 50 companies - including banks, bank holding companies, thrifts, insurance companies, and broker-dealers. The fee would not apply to hedge funds or mutual funds. AIG will be subject to the fee, but mortgage lenders Fannie Mae and Freddie Mac, which are under government conservatorship, will be excluded. The fee would also not apply to General Motors Co. and Chrysler, the still-ailing US automakers that got bailout money.

Dec. GSM subscriber addition at 12.52mn

The GSM-based cellular service providers have reported subscriber additions of 12.52mn during December, as against addition of 11.09mn in November, the Cellular Operators Association of India (COAI) said. With this, the cumulative All India GSM subscriber base has now grown to 379.85mn in November, up from 366.78mn in October, the lobby group for GSM operators said. Among the companies, Vodafone Essar added 2.79mn new users in November, taking its total base to 91.4mn while market leader Bharti Airtel saw its total base rise by 2.85mn to 118.86mn. Idea Cellular added 1.71mn new customers, boosting its subscriber base to 57.61mn, while Aircel increased its base by 1.67mn to 31.02mn. BSNL added 2.03mn new customers, taking its reach to 57.22mn. Loop Mobile added 54,276 new subscribers, taking its total to 2.65mn. MTNL added 57,009 new customers, boosting its total base to 4.57mn. Bharti Airtel continues to be the top GSM operator in the country, with a market share of 31.29% followed by Vodafone Essar at 24.06%, BSNL at 15.06% and Idea at 15.17%.

Oil PSUs may get cash compensation: Govt

Public sector oil companies - IOC, BPCL and HPCL - may get compensated in cash for selling oil products below the cost instead of oil bonds, Petroleum Secretary R. S. Pandey said. "Most likely it subsidy is going to be cash," Pandey told reporters in New Delhi after a meeting with Finance Minister Pranab Mukherjee. He said that no decision had been taken on the quantum of compensation to be given by the Finance Minister. "Discussions were held and we hope to hear from them soon," Pandey said. The Petroleum Ministry had sought Rs200bn of oil bonds for public sector oil firms as compensation for FY10, as crude oil prices have started inching higher, S. Sundareshan, the No. 2 official in the Petroleum Ministry, had said last month.

The Ministry of Finance and the Ministry of Petroleum & Natural Gas have a difference of opinion on the amount of compensation. The Petroleum Ministry had asked for a compensation of Rs200bn for the three quarters. Estimates are that losses for the OMCs will zoom up to Rs450bn by the end of this fiscal year if crude oil prices remain at the current region of US$80 per barrel. The leading state-run oil marketing companies are set to post losses in the third quarter as well if the compensation is not announced soon. The Finance Ministry is not interested in giving oil bonds due to the pressures on fiscal deficit. At the same time, a price hike looks unlikely as of now, as it would add to inflation.

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India set for solid recovery: ADB

India’s economy is poised for a solid recovery in 2010 as the global financial crisis fades, but policymakers need to address inflation and the widening fiscal deficit to buffer it against the impact of future global shocks, said a new study commissioned by the Asian Development Bank (ADB). The study, Impact and Policy Responses - India, said that the Indian economy has emerged from the crisis relatively unscathed and quickly regained growth momentum, thanks to its own stimulus actions, past reforms, banks’ limited exposure to troubled parts of the global financial system, as well as India’s robust domestic consumption. Offsetting these positive developments were signs of an increase in inflation and a worsening trade deficit in the latter part of 2009. In addition, the nature and extent of the global recovery remained fragile and uncertain, with developed markets such as the US and Europe yet to show evidence of a sustainable and private sector-led economic turnaround. The study said that India was fortunate the crisis was not protracted, which would have tested the government’s ability to continue fiscal stimulus measures for a long period, and potentially compromised its efforts to boost the economy. Moving forward, India will have to try and improve its fiscal position through more disciplined fiscal management, said the study.

Key predictions for IT organizations and users in 2010 and beyond: Gartner

Gartner, Inc. has highlighted the key predictions that herald long-term changes in approach for IT organizations and the people they serve for 2010 and beyond. Gartner's top predictions for 2010 showcase the trends and events that will change the nature of business today and beyond.


These predictions were selected from across Gartner’s research areas as the most compelling and critical predictions. The trends and topics they address this year speak to the changing balance of power and focus in IT. Gartner analysts said last year's themes of shifting ownership and revenue flows continue, becoming more pronounced and more sharply focused. As the macro-economic environment adjusts to a new balance between supply, consumer demand and regulation, the focus of this year's top predictions has expanded to encompass shifts in the way that users interact with IT.


"As organizations make plans to navigate the economic recovery and prepare for the return to growth, our predictions for 2010 focus on the impact of critical changes in the balance of control and power in IT," said Brian Gammage, vice president and research fellow at Gartner. "With greater financial and regulatory oversight for all IT investment decisions, few organizations will be unaffected."


"For many organizations, the economic and budgetary challenges of 2009 drove important changes in the general governance of IT investment decisions, accelerating the trend toward greater accountability and transparency," said Daryl Plummer, managing vice president and chief Gartner fellow. "With a strong emphasis on business-case justifications, chief financial officers (CFOs) assumed a more active role. Although most organizations enter 2010 preparing for a return to growth, this financial oversight is unlikely to be lifted anytime soon. For IT leaders, greater fluency in the language of business has become a requirement."


Gartner’s top predictions are intended to compel readers to action and to position themselves to take advantage of coming changes, not to be damaged by them. Gartner’s top predictions for 2010 and beyond include:


By 2012, 20% of businesses will own no IT assets. Several interrelated trends are driving the movement toward decreased IT hardware assets, such as virtualization, cloud-enabled services, and employees running personal desktops and notebook systems on corporate networks.


The need for computing hardware, either in a data center or on an employee's desk, will not go away. However, if the ownership of hardware shifts to third parties, then there will be major shifts throughout every facet of the IT hardware industry. For example, enterprise IT budgets will either be shrunk or reallocated to more-strategic projects; enterprise IT staff will either be reduced or reskilled to meet new requirements, and/or hardware distribution will have to change radically to meet the requirements of the new IT hardware buying points.


By 2012, India-centric IT services companies will represent 20 percent of the leading cloud aggregators in the market (through cloud service offerings). Gartner is seeing India-centric IT services companies leveraging established market positions and levels of trust to explore nonlinear revenue growth models (which are not directly correlated to labor-based growth) and working on interesting research and development (R&D) efforts, especially in the area of cloud computing. The collective work from India-centric vendors represents an important segment of the market's cloud aggregators, which will offer cloud-enabled outsourcing options (also known as cloud services).


By 2012, Facebook will become the hub for social network integration and Web socialization. Through Facebook Connect and other similar mechanisms, Facebook will support and take a leading role in developing the distributed, interoperable social Web. As Facebook continues to grow and outnumber other social networks, this interoperability will become critical to the success and survival of other social networks, communication channels and media sites.


Other social networks (including Twitter) will continue to develop, seeking further adoption and specializations with communication or content areas, but Facebook will represent a common denominator for all of them.


By 2014, most IT business cases will include carbon remediation costs. Today, server vitalization and desktop power management demonstrate substantial savings in energy costs, and those savings can help justify projects. Incorporating carbon costs into business cases provides a further measure of savings, and prepares the organization for increased scrutiny of its carbon impact.


Economic and political pressure to demonstrate responsibility for carbon dioxide emissions will force more businesses to quantify carbon costs in business cases. Vendors will have to provide carbon life cycle statistics for their products or face market share erosion. Incorporating carbon costs in business cases will only slightly accelerate replacement cycles. A reasonable estimate for the cost of carbon in typical IT operations is an incremental one or two percentage points of overall costs. Therefore, carbon accounting will more likely shift market share than market size.


In 2012, 60 percent of a new PC's total life greenhouse gas emissions will have occurred before the user first turns the machine on. Progress toward reducing the power needed to build a PC has been slow. Over the course of its entire lifetime, a typical PC consumes 10 times its own weight in fossil fuels, but around 80 percent of a PC's total energy usage still happens during production and transportation.


Greater awareness among buyers and those that influence buying, greater pressure from eco-labels, increasing cost pressures and social pressure have awoken the IT industry to the problem of greenhouse gas emissions. Requests for proposal (RFPs) now frequently look for environment-related criteria of both product and vendor. Environmental awareness and legislative tightening will increase recognition of production as well as usage-related carbon dioxide emissions. Technology providers should expect that they will be required to provide carbon dioxide emission data to a growing number of customers.


Internet marketing will be regulated by 2015, controlling more than $250 billion in Internet marketing spending worldwide. Despite international efforts to eliminate "spam," marketing "clutter" is abundant in every marketing channel. Pressure for greater accountability means the backlash from annoyed consumers will eventually drive legislation to regulate Internet marketing. Companies that focus primarily on the Internet for marketing purposes could find themselves unable to market effectively to customers, putting themselves at a competitive disadvantage when new regulations take effect. Although experiencing high growth, vendors who focus solely on, and sell predominately to, Internet marketing solutions could find themselves faced with a declining market, as companies shift marketing funds to other channels to compensate.


By 2014, over 3 billion of the world's adult population will be able to transact electronically via mobile or Internet technology. Emerging economies will see rapidly rising mobile and Internet adoption through 2014. At the same time, advances in mobile payment, commerce and banking are making it easier to electronically transact via mobile or PC Internet. Combining these two trends creates a situation in which a significant majority of the world's adult population will be able to electronically transact by 2014.


Gartner research predicts that by 2014, there will be a 90% mobile penetration rate and 6.5 billion mobile connections. Penetration will not be uniform, as continents like Asia (excluding Japan) will see a 68% penetration and Africa will see a 56% mobile penetration. Although not every individual with a mobile phone or Internet access will transact electronically, each will have the ability to do so. Cash transactions will remain dominant in emerging markets by 2014, but the foundation for electronic transactions will be well under way for much of the adult world.


By 2015, context will be as influential to mobile consumer services and relationships as search engines are to the Web. Whereas search provides the "key" to organizing information and services for the Web, context will provide the "key" to delivering hyperpersonalized experiences across smartphones and any session or experience an end user has with information technology. Search centered on creating content that drew attention and could be analyzed. Context will center on observing patterns, particularly location, presence and social interactions. Furthermore, whereas search was based on a "pull" of information from the Web, context-enriched services will, in many cases, prepopulate or push information to users.


The most powerful position in the context business model will be a context provider. Web, device, social platforms, telecom service providers, enterprise software vendors and communication infrastructure vendors will compete to become significant context providers during the next three years. Any Web vendor that does not become a context provider risks handing over effective customer ownership to a context provider, which would impact the vendor's mobile and classic Web businesses.


By 2013, mobile phones will overtake PCs as the most common Web access device worldwide. According to Gartner's PC installed base forecast, the total number of PCs in use will reach 1.78 billion units in 2013. By 2013, the combined installed base of smartphones and browser-equipped enhanced phones will exceed 1.82 billion units and will be greater than the installed base for PCs thereafter.


Mobile Web users are typically prepared to make fewer clicks on a website than users accessing sites from a PC. Although a growing number of websites and Web-based applications offer support for small-form-factor mobile devices, many still do not. Websites not optimized for the smaller-screen formats will become a market barrier for their owners — much content and many sites will need to be reformatted/rebuilt.


Additional information is in the Gartner report "Gartner's Top Predictions for IT Organizations and Users, 2010 and Beyond: A New Balance." The report examines the impact these long-term changes will have in combination with the ongoing trend toward the democratization of IT capabilities. The report is available on Gartner's website at http://www.gartner.com/resId=1268513.


Gammage and Plummer will be hosting upcoming webinars "Gartner Top Predictions for 2010: Coping with the New Balance of Power" on January 14 and January 27. They will discuss how these predictions are changing the balance of power and focus in IT. To register for one of these webinars, please go to www.gartner.com/predicts.


Gartner's 2010 predictions span 56 market, topic and industry areas, with around 250 predictions in total. These predictions highlight the changing outlook for business, industries and IT providers, as analysts looked toward the aftermath of the economic downturn and recession. Whether preparing for a return to growth in 2010 or still dealing with the impact of the downturn, these predictions will guide the decisions IT and business leaders need to make about IT investments and broader aspects of business strategy during the year ahead. The 2010 Predicts reports can be found on the Gartner Predicts website at www.gartner.com/predicts. These reports are broken out by topic, industries, and markets.

Inflation surges to 7.31%

India’s inflation, as measured by the Wholesale Price Index (WPI), stood at 7.31% for December 2009 compared to 4.78% in the previous month and 6.15% during the corresponding month of the previous year. Inflation for the Food Articles group rose to 3.11% in December 2009 compared to 2.70% in the same period last year. Non-Food Articles inflation rose to 0.48% as against 0.12% in December 2008 and Minerals inflation was at -0.06% as compared to -0.03% in Dec 2008. The latest inflation figure is way above the RBI’s target for the fiscal year (6.5%), reinforcing a growing view that the central bank would resort to some form of monetary tightening at its month-end policy meeting in a bid to contain rising prices. According to some economics, at the current pace, inflation is likely to rise above 8% in January and inch closer to double-digits by March, 2010. The last time wholesale inflation exceeded the December level was in November 2008 when it had reached 8%.

Inflation in manufactured products, which has a 63.5% weightage in the index, was up 5.17% in December 2009 from a year ago. It was 3.99% in November 2009. Basic grades of steel rose 9% while zinc was up 4%. The price of potatoes more than doubled in December from a year earlier while sugar prices soared 53.9%, according to government data. The fuel index gained 4.29% compared with a decline of 0.21% a year earlier. Prices of processed food items, for example, rose 26.40% in December and non-processed food items turned expensive by 19.17%. There is some relief however on food prices. The rate of price acceleration in food articles has moderated to 17.28% from about 20% earlier.

The RBI cut the CRR, the portion of deposits to be kept with the RBI, by 4% to 5% between October 2008 and January 2009 and has left its reverse repurchase and repurchase rates unchanged since April after cutting them by 2.75% and 4.25%, respectively.

India’s central bank will use monetary policy to contain inflation when there is a need, K.L. Prasad, an economic adviser at the finance ministry, said after wholesale prices surged the most in more than a year. "It is difficult to react to the current numbers and to take action today," Prasad was quoted as saying. "If you see the momentum and know it’s going to reach a certain threshold, then the monetary policy authorities will act," he said. Prime Minister Dr. Manmohan Singh has called a meeting with state chief ministers seeking their co-operation in the fight against spiraling inflation.

Weekly Newsletter - Jan 15 2010

The key indices didn't move much during the week as concerns about soaring inflation offset stronger than expected IIP data and positive announcements on PSU disinvestment. Even stellar results from IT giant Infosys and other leading lights of India Inc. failed to cheer up the bulls. At the same time, select Small-Cap and Mid-Cap stocks continued to outperform the frontline counters.

Next week again things may remain volatile even as the earnings announcements accelerate and investors weigh their options. The Nifty might conquer the 5300 milestone but will face resistance in its journey to 5400 and beyond. On the way down, it will find support at 5200 and 5100. The road ahead will not be smooth and one will have to deal with several road blocks. So, stay on guard and wait for more clarity before jumping the gun.

The US markets will be shut on Monday in observance of the Martin Luther King Jr. holiday. Among the key US data points to keep an eye on will be the reports on Housing Starts and Building Permits. China will come out with its latest GDP data, along with reports on CPI and industrial production. A slew of economic reports are also due from the UK and European markets. As far as India is concerned, no major economic report is scheduled, except for the weekly inflation in Food and Fuel baskets.

Key Results Next Week: 3i Infotech, Asian Paints, BASF India, Bharti Airtel, BHEL, Biocon, Container Corporation, Dr. Reddy's, Godrej Consumer, Gail India, GTL Infra, Grasim, HDFC, HDIL, HT Media, HCC, Hindustan Zinc, ICRA, ITC, ICICI Bank, Idea Cellular, Indiabulls Real Estate, Infotech Enterprises, Jaiprakash Associates, JSW Steel, Jubilant Organosys, Kotak Mahindra Bank, KPIT Cummins, L&T, Mindtree, MRPL, Mahindra Holidays, M&M, Mahindra Lifespaces, Maruti Suzuki, Neyveli Lignite, ONGC, Punj Lloyd, Piramal Healthcare, Philips Carbon Black, Praj Industries, Petronet LNG, Polaris Software, Reliance Industries, SRF, Sesa Goa, Shriram Transport, Sterlite Technologies, Shree Cements, Sun TV, Tata Power, Tech Mahindra, TVS Motor, United Spirits, Wipro, Welspun Gujarat, Welspun India, Yes Bank and Zee Entertainment.

Sharekhan Weekly Report: Q3 earnings spell falls flat

Q3 earnings and strong index of industrial production (IIP) readings failed to enthuse investors and the Sensex ended the week mere 0.1% high, though continuing its gaining streak into fourth week straight. Volatility continued with the Sensex swinging 500 points during the week with a weekly high of 17776 and a low of 17276, before closing the week at 17554. Nifty closed at 5252, seven points lower than its previous week closing.

Infosys Technology’s Q3 earnings and outlook prepared the pitch for information technology stocks and the sector index, BSE IT, gained 9% over the week. BSE TECk, the second best performer of the week, advanced 6.74%. With odds of policy intervention by the Reserve Bank of India increasing with all talks of taming the run-away inflation and on improved industrial outlook, the BSE Bankex fell the most—by 2.27%, followed by BSE FMCG that shed 1.81% in the week.

We expect the market to remain volatile ahead of the third quarterly monetary policy 2009-10 review by the RBI on January 29, 2010. And the trend in the coming week will be set, to a good extent, by earnings results of India’s third-largest software exporter Wipro and India’s biggest company by market capitilisation Reliance Industries.

Market seeks cues

Today's major news

Wipro set to launch $1billion sponsored ADR offering; the stock closes 0.89% lower

UCO Bank Q3 net up by 43%; the stock shoots up 5.68%

HDFC Bank Q3 net profit rises by 31.6%; the stock rises 0.33%

IDBI Bank Q3 bottom line up by 29%; the stock surges 0.72%

AXIS Bank Q3 surges 31%; the stock jumps 1.52%.

Click here for more stories

Post-market summary

Global signals

European indices were trading marginally higher in morning trades, led by banking stocks. At the time of writing this report FTSE 100 was trading marginally higher by 0.17%.

Among major Asian indices, all the indices closed higher except Hang Seng and Straits Times that fell marginally. SGX Nifty closed 6 points lower.

US stock futures opened marginally lower on Thursday, as investors look forward to data related to industrial production for the month of December and capacity utilisation for the month of December.

Indian indices

The Sensex edged lower after moving between positive and negative territory earlier in the day. The Sensex that opened 20 points higher soon turned negative and swung between red and green. The day’s low was 17529, while the day’s high was 17640. At 17554, the Sensex closed the session 31 points lower. Nifty closed 8 points down at 5252.

Market sentiment

The market breadth was marginally negative. Of 2,994 stocks traded on the BSE, 1,508 stocks trailed whereas 1,420 stocks advanced. Sixty six stocks closed unchanged.

Sectoral & stock screening

Public sector units (PSU) drew bulls’ interest with the BSE PSU up by 2%. Realty scrips were also up with the BSE Realty up by meagre 0.73%. BSE Oil & Gas was down 0.94% followed by BSE CG that fell 0.60%.

Pubic sector entities were the star achievers of the day with Hindustan Copper up by 17.38% followed by NMDC up 12.23% and Rashtriya Chemicals and Fertilisers that was up by 6.78%. United Spirits slid the most by 4.05%, followed by Rei Agro that fell by 3.32% and GTL Infrastructure that shed 2.80%.

Viewing volumes

Public sector bank UCO Bank was the most actively traded share with over 0.71 crore shares changing hands on the BSE followed by wind turbine maker Suzlon Energy (0.64 crore shares), Ispat Industries (0.56 crore shares), India’s leading telecom operator Reliance Communications (0.47 crore shares) and Reliance Natural Resources (0.42 crore shares).

BSE Bulk Deals to Watch - Jan 15 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
15/1/2010 524412 Aarey Drugs DAXABEN VASANTKUMAR SHAH B 36342 53.47
15/1/2010 524412 Aarey Drugs PATEL APEXA JAGDISHBHAI B 37108 53.47
15/1/2010 524412 Aarey Drugs VARSHABEN NAVINBHAI SONI B 81671 53.22
15/1/2010 524412 Aarey Drugs DAXABEN VASANTKUMAR SHAH S 42328 53.21
15/1/2010 524412 Aarey Drugs PATEL APEXA JAGDISHBHAI S 36486 53.48
15/1/2010 524412 Aarey Drugs VARSHABEN NAVINBHAI SONI S 88998 53.25
15/1/2010 524412 Aarey Drugs PRAFULLABEN AMRUTBHAI SONI S 52148 53.26
15/1/2010 524412 Aarey Drugs BHAVINI VIJAYKUMAR SHAH S 34000 53.24
15/1/2010 524412 Aarey Drugs UTSAV NITINBHAI SHAH S 100000 53.49
15/1/2010 505216 Alfred Herbert CAMPHAR SEC.& ADV.P.LTD. B 4401 173.09
15/1/2010 505216 Alfred Herbert NATIONAL INSURANCE CO LTD S 10568 172.15
15/1/2010 505506 Axon Infotech UTTAM BHARAT BAGRI B 3800 26.85
15/1/2010 532380 Baba Arts GORDHAN PRABHUDAS TANWANI S 284151 12.42
15/1/2010 532609 Bharati Ship SMART EQUITY BROKERS PRIVATE LIMITED B 250576 335.53
15/1/2010 532609 Bharati Ship OPG SECURITIES P LTD B 242739 336.94
15/1/2010 532609 Bharati Ship JMP SECURITIES PVT LTD B 292204 341.81
15/1/2010 532609 Bharati Ship SMART EQUITY BROKERS PRIVATE LIMITED S 250576 335.94
15/1/2010 532609 Bharati Ship OPG SECURITIES P LTD S 242739 337.38
15/1/2010 532609 Bharati Ship JMP SECURITIES PVT LTD S 206640 340.32
15/1/2010 531144 EL Forge MULTI STOCK BROKING (P) LTD B 55732 36.11
15/1/2010 531144 EL Forge MULTI STOCK BROKING (P) LTD S 43177 34.64
15/1/2010 504351 Empower Inds KAUSHIK GANGARAM RATHOD B 59500 33.62
15/1/2010 504351 Empower Inds VINOD BHARAT SHINDE S 107500 33.67
15/1/2010 530337 Exelon Infra GANESH KUMAR DHANUKA B 25000 49.31
15/1/2010 590024 Fert & Chem Trv R B K SHARE BROKING LIMITED B 61451 48.06
15/1/2010 590024 Fert & Chem Trv R B K SHARE BROKING LIMITED S 70472 48.13
15/1/2010 532957 Gokak Textiles DALMIA SECURITIES PRIVATE LIMITED B 69025 50.60
15/1/2010 532957 Gokak Textiles NATIONAL INSURANCE CO.LTD. S 70000 50.61
15/1/2010 531439 Goldstone Tech BHARAT SHANTILAL THAKKAR S 97899 36.65
15/1/2010 531439 Goldstone Tech HEMANT MADHUSUDAN SHETH S 180000 36.74
15/1/2010 532836 Gremach Infra JYOTI PORTFOLIO LIMITED B 242775 38.48
15/1/2010 532836 Gremach Infra JYOTI PORTFOLIO LIMITED S 228655 38.48
15/1/2010 532764 Gwalior Chem ARONI COMMERCIALS LIMITED B 2296800 96.02
15/1/2010 532764 Gwalior Chem ROHIT ASHWIN KOTHARI B 200000 98.50
15/1/2010 532764 Gwalior Chem WINRO COMMERCIAL INDIA LIMITED S 1317900 96.00
15/1/2010 532764 Gwalior Chem JACQART FINANCIAL SERVICES LIMITED S 208900 98.00
15/1/2010 532764 Gwalior Chem SARASWATI COMMERCIAL INDIA LTD S 921700 96.00
15/1/2010 524080 Haryana Leather MAYUR NIRAV SHAH B 31577 18.40
15/1/2010 532808 House of Pearl ABHISHEK VIJAYKUMAR SHAH B 265837 94.50
15/1/2010 532808 House of Pearl ABHISHEK VIJAYKUMAR SHAH S 265837 94.65
15/1/2010 507438 IFB Agro RAVIRAJ DEVELOPERS LTD B 56503 96.12
15/1/2010 511682 IFL Promoters CENTENARY SOFTWARE PVT LTD B 15249 11.05
15/1/2010 511682 IFL Promoters DMC INTERNATIONAL LIMITED S 15400 11.00
15/1/2010 531025 Inca Finlease RASHEL AGROTECH S 19705 84.06
15/1/2010 509684 India Foils ESS DEE ALUMINIUM LTD S 203000 18.39
15/1/2010 532658 Indo Asian Fuse PKR HITECH INDUSTRIAL CORPORATION LLP B 110000 72.20
15/1/2010 532658 Indo Asian Fuse VPM INDUSTRIAL SERVICES CORPORATION LLP S 110000 72.20
15/1/2010 523467 Jai Mata Glass NARESH GUPTA B 75608 2.76
15/1/2010 523467 Jai Mata Glass CHIRAG MAHENDRA SHAH B 80670 2.73
15/1/2010 523467 Jai Mata Glass KEERTI RAJESH GUPTA B 85000 2.71
15/1/2010 523467 Jai Mata Glass CHANDRAKANT AHANSRAJ GUPTA B 75000 2.75
15/1/2010 523467 Jai Mata Glass GAYATRIDEVI RAJENDRAPRASAD TODI B 70000 2.85
15/1/2010 523467 Jai Mata Glass SHAILESH RAVJIBHAI PATEL B 75000 2.70
15/1/2010 523467 Jai Mata Glass GROWMORE PROPERTIES PVT LTD S 1348959 2.76
15/1/2010 523467 Jai Mata Glass NARESH GUPTA S 75608 2.78
15/1/2010 523467 Jai Mata Glass CHIRAG MAHENDRA SHAH S 80670 2.74
15/1/2010 523467 Jai Mata Glass JMP SECURITIES PVT LTD S 215000 2.85
15/1/2010 523467 Jai Mata Glass KUNTAL NARECHANIA S 150000 2.90
15/1/2010 530955 Kailash Ficom SHREE HARIVANSHA SEC PVT LTD B 53000 79.13
15/1/2010 511131 Kamanwala Hous NISHA SUMAN JAIN B 92000 63.00
15/1/2010 531363 Karur KCP TEJASH FINSTOCK PRIVATE LIMITED B 53781 58.29
15/1/2010 531363 Karur KCP TEJASH FINSTOCK PRIVATE LIMITED S 63919 58.61
15/1/2010 530255 KAY Power KAUSHALYA GARG B 95075 13.86
15/1/2010 532758 KEW Inds MUKESH MITTAL S 95950 18.55
15/1/2010 532758 KEW Inds AJAY GUPTA S 145000 18.54
15/1/2010 531892 Khandwala Sec ABHISHEK VIJAYKUMAR SHAH B 1932489 33.90
15/1/2010 531892 Khandwala Sec ABHISHEK VIJAYKUMAR SHAH S 1932489 33.97
15/1/2010 531731 Kuvam Intl VANITA BHALLA S 20000 49.45
15/1/2010 504258 Lakshmi Elect SAINATH HERBAL CARE MARKETING P.LTD S 29176 272.72
15/1/2010 531146 Medicamen Bio M/S LAXMI CAP BROKING PVT LTD B 100572 34.24
15/1/2010 504112 NELCO JMP SECURITIES PVT LTD B 169262 120.80
15/1/2010 504112 NELCO JMP SECURITIES PVT LTD S 166262 121.06
15/1/2010 590090 Octant Inter HANDFUL INVESTRADE PVT LTD B 185000 10.21
15/1/2010 590090 Octant Inter INDIUM HOME CARE PRIVATE LTD S 189596 9.65
15/1/2010 590090 Octant Inter RAJ KISHORE AGARWAL S 141600 9.70
15/1/2010 590090 Octant Inter HANDFUL INVESTRADE PVT LTD S 140304 10.21
15/1/2010 531996 Odyssey Corp ANAND GUPTA B 25000 35.25
15/1/2010 531996 Odyssey Corp MOON ENTERPRISES PVT LTD S 50000 35.49
15/1/2010 524689 Parenteral Drug SANGITA SUSHIL DIDWANIA B 50000 156.25
15/1/2010 524689 Parenteral Drug EUREKA CREDIT FINANCE PRIVATE LIMITED B 57000 167.25
15/1/2010 524689 Parenteral Drug PINNACLE TRADES & INVESTMENTS LTD. B 150000 155.10
15/1/2010 524689 Parenteral Drug HITESH SHASHIKANT JHAVERI B 55006 185.85
15/1/2010 524689 Parenteral Drug VENKATA SUBBARAJU PENMATSA HUF B 50000 184.00
15/1/2010 524689 Parenteral Drug NILU SANJAY PODDAR B 130000 155.00
15/1/2010 524689 Parenteral Drug JYOTSNA LAXMIKANT TANNA B 100000 155.00
15/1/2010 524689 Parenteral Drug SARVAPRATHAM INVESTMENT LIMITED B 235000 155.00
15/1/2010 524689 Parenteral Drug RAJNI TARUN JAIN B 200000 155.00
15/1/2010 524689 Parenteral Drug KADAYAM RAMNATHAN BHARAT B 175000 155.00
15/1/2010 524689 Parenteral Drug DHOOT INDUSTRIAL FINANCE LTD B 75000 155.00
15/1/2010 524689 Parenteral Drug DHANANJAYA MONEY MANAGEMENT SERVICES PVT LTD B 65869 183.99
15/1/2010 524689 Parenteral Drug MADHUKAR CHIMANLAL SHETH B 800000 155.00
15/1/2010 524689 Parenteral Drug PINNACLE TRADES & INVESTMENTS LTD. S 150000 180.23
15/1/2010 524689 Parenteral Drug TREE LINE ADVISORS (HONG KONG) LTD. A/C S 1970000 155.05
15/1/2010 524689 Parenteral Drug NILU SANJAY PODDAR S 107000 175.07
15/1/2010 511702 Parsharti Inv J M SONI CONSULTANCYJ M SONI CONSULTANCY B 35000 40.50
15/1/2010 511702 Parsharti Inv BHAVESH SHANTILAL TRIVEDI S 16850 40.65
15/1/2010 517417 Patels Airtmp BULBUL AHMED B 64916 90.54
15/1/2010 517417 Patels Airtmp BISHAL JAIN B 25675 86.21
15/1/2010 503873 Priyadarshini Spn PRADEEP KR AGGARWAL B 61262 19.13
15/1/2010 531273 Radhe Dev ASHISHBHAI PRAFULBHAI PATEL S 1400200 5.48
15/1/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 61675 36.29
15/1/2010 502587 Rama Pulp PARESH AMRUTLAL KOTAK B 48000 35.31
15/1/2010 502587 Rama Pulp DILIP SHANTILAL KANABAR S 48000 35.31
15/1/2010 502587 Rama Pulp MUMBAI STOCK BROKERS PVT LTD S 47818 35.86
15/1/2010 530271 Rich Capital SCOPE VYAPAR PRIVATE LIMITED B 100000 86.72
15/1/2010 530271 Rich Capital JHUNJHUNWALA VANASPATI LTD S 100000 86.72
15/1/2010 533083 RISHABHDEV MACORD ENEX B 200000 16.00
15/1/2010 533083 RISHABHDEV YOGESH JAISWAL B 439850 16.46
15/1/2010 533083 RISHABHDEV ARIHANT SEC & INVESTMENT B 202535 16.57
15/1/2010 533083 RISHABHDEV SARSWATI VINCOM LTD B 240000 16.25
15/1/2010 533083 RISHABHDEV KII LTD S 348771 16.29
15/1/2010 533083 RISHABHDEV MACORD ENEX S 200000 16.78
15/1/2010 533083 RISHABHDEV YOGESH JAISWAL S 472861 16.07
15/1/2010 533083 RISHABHDEV ARIHANT SEC & INVESTMENT S 202535 16.38
15/1/2010 533083 RISHABHDEV SARSWATI VINCOM LTD S 240000 16.00
15/1/2010 533083 RISHABHDEV KUVERA FUND LTD S 352000 16.25
15/1/2010 505141 Scooters India EDELVALUE PARTNERS B 12424 43.65
15/1/2010 532886 SEL Mfg Company SMART EQUITY BROKERS PRIVATE LIMITED B 86344 101.83
15/1/2010 532886 SEL Mfg Company TRANSGLOBAL SECURITIES LTD. B 130788 101.46
15/1/2010 532886 SEL Mfg Company OPG SECURITIES P LTD B 168980 101.77
15/1/2010 532886 SEL Mfg Company SMART EQUITY BROKERS PRIVATE LIMITED S 86344 101.93
15/1/2010 532886 SEL Mfg Company TRANSGLOBAL SECURITIES LTD. S 129788 100.98
15/1/2010 532886 SEL Mfg Company OPG SECURITIES P LTD S 168980 101.84
15/1/2010 530075 Selan Expl SMART EQUITY BROKERS PRIVATE LIMITED B 156748 435.58
15/1/2010 530075 Selan Expl OPG SECURITIES P LTD B 107208 446.71
15/1/2010 530075 Selan Expl INDIA INFOLINE INVESTMENT SERVICES LIMITED B 235000 370.00
15/1/2010 530075 Selan Expl SMART EQUITY BROKERS PRIVATE LIMITED S 156748 436.22
15/1/2010 530075 Selan Expl OPG SECURITIES P LTD S 107208 446.80
15/1/2010 530075 Selan Expl MAHAJAN AROON S 250000 370.08
15/1/2010 531645 Southern Ispat REASH RAJ PLASTICK PVTLTD B 100000 41.90
15/1/2010 531645 Southern Ispat USHMA KAUSHAL JHAVERI B 248493 42.00
15/1/2010 531645 Southern Ispat USHMA KAUSHAL JHAVERI S 248493 42.48
15/1/2010 531433 Sungold Cap KALPANA VASANTKUMAR THAKKAR B 31189 14.05
15/1/2010 512257 Swasti Vinay Gem POONAM BAGARIA B 208205 4.96
15/1/2010 512257 Swasti Vinay Gem ASHIRWAD SHELTERS PVT. LTD. S 200000 4.96
15/1/2010 532738 Tantia Constr STANDARD CHARTERED BANK (MAURITIUS) LIMITED A/C EMERGING IND S 85000 145.00
15/1/2010 530595 Telecanor Glob PURVESH MUKESHKUMAR SHAH S 60000 24.71
15/1/2010 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. B 153886 434.99
15/1/2010 533121 THINKSOFT OPG SECURITIES P LTD B 98199 437.93
15/1/2010 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. S 153886 435.12
15/1/2010 533121 THINKSOFT OPG SECURITIES P LTD S 98199 438.07
15/1/2010 531917 Twinstar Soft NARESH GUPTA B 95401 5.35
15/1/2010 531917 Twinstar Soft NARESH CHAND JAIN B 94085 5.33
15/1/2010 531917 Twinstar Soft NARESH GUPTA S 95401 5.40
15/1/2010 531917 Twinstar Soft NARESH CHAND JAIN S 94085 5.26
15/1/2010 530459 Valson Inds RAJESH GUPTA B 25000 30.31
15/1/2010 530459 Valson Inds MEENA TRADING B 20000 29.50
15/1/2010 530459 Valson Inds MEENA TRADING S 20000 29.49
15/1/2010 530459 Valson Inds SUNIL NANAKCHAND MUTREJA S 30000 30.03
15/1/2010 530459 Valson Inds NANDLAL NANKCHNAD MUTREJA HUF S 60000 29.50
15/1/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR B 38056 396.21
15/1/2010 531249 Well Pack Papers PANDYA YAMINIBEN M B 52889 395.57
15/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR B 37652 395.22
15/1/2010 531249 Well Pack Papers AMAR PREMCHAND WALMIKI B 53000 392.29
15/1/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR S 26167 398.68
15/1/2010 531249 Well Pack Papers PANDYA YAMINIBEN M S 51105 393.64
15/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR S 31913 392.74
15/1/2010 531249 Well Pack Papers SHREEDHAR YELLAIAH KODAM S 26500 392.94
15/1/2010 531249 Well Pack Papers NAVNATH SAKHARAM GHONE S 24500 392.93
15/1/2010 522029 Windsor Mach HITESH SHASHIKANT JHAVERI S 75628 43.01
15/1/2010 532795 Wire & Wireless A.K.G. STOCK BROKERS PVT. LTD. B 1231606 21.38
15/1/2010 532795 Wire & Wireless A.K.G. STOCK BROKERS PVT. LTD. S 1231606 21.36
* B - Buy, S - Sell

NSE Bulk Deals to Watch - Jan 15 2010

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
15-JAN-2010,ABGSHIP,ABG Shipyard Limited,CREDIT SUISSE (SINGAPORE) LIMITED A/C CREDIT SUISSE (SINGAP,BUY,668513,278.80,-
15-JAN-2010,BHARTISHIP,Bharati Shipyard Limited,CREDIT SUISSE (SINGAPORE) LIMITED A/C CREDIT SUISSE (SINGAP,BUY,634000,319.86,-
15-JAN-2010,BHARTISHIP,Bharati Shipyard Limited,MANIPUT INVESTMENTS PVT. LTD.,BUY,193630,338.60,-
15-JAN-2010,BHARTISHIP,Bharati Shipyard Limited,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,246379,334.48,-
15-JAN-2010,BHARTISHIP,Bharati Shipyard Limited,OM INVESTMENTS,BUY,148327,338.49,-
15-JAN-2010,BIRLACOT,Birla Cotsyn (India) Limi,AMAR KANAIYALAL CHAUHAN,BUY,6118729,1.40,-
15-JAN-2010,IFBAGRO,IFB Agro Industries Ltd,RAVIRAJ DEVELOPERS LTD,BUY,44243,94.21,-
15-JAN-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,BUY,6168749,22.76,-
15-JAN-2010,ITI,ITI Ltd.,TRANSGLOBAL SECURITIES LTD.,BUY,111095,54.15,-
15-JAN-2010,NELCO,Nelco Ltd.,BP FINTRADE PRIVATE LIMITED,BUY,160613,120.31,-
15-JAN-2010,SELAN,Selan Exploration Technol,CHANDROO R KEWALRAMANI,BUY,75000,370.00,-
15-JAN-2010,SELAN,Selan Exploration Technol,JASBIR SINGH MADAN,BUY,75000,370.00,-
15-JAN-2010,SELAN,Selan Exploration Technol,KISMET EXPORTS AND INVESTMENTS PVT LTD,BUY,75000,370.00,-
15-JAN-2010,SELMCL,SEL Manufacturing Company,OM INVESTMENTS,BUY,97572,102.27,-
15-JAN-2010,SELMCL,SEL Manufacturing Company,TRANSGLOBAL SECURITIES LTD.,BUY,119155,100.81,-
15-JAN-2010,SURYAROSNI,Surya Roshni Ltd,BHARGAVI ATUL JAIN,BUY,133333,91.40,-
15-JAN-2010,SURYAROSNI,Surya Roshni Ltd,GUPTA RAKESH,BUY,63040,92.89,-
15-JAN-2010,TANTIACONS,Tantia Constructions Limi,SGAM INDIA INFRASTRUCTURE FUND ,BUY,213205,144.99,-
15-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,186405,435.47,-
15-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,CPR CAPITAL SERVICES LTD.,BUY,69800,438.06,-
15-JAN-2010,TULSI,Tulsi Extrusions Limited,ANKITA VISHAL SHAH,BUY,95992,34.87,-
15-JAN-2010,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,3059695,21.39,-
15-JAN-2010,AUTOLITIND,Autolite (India) Ltd,JAIDEEP SAMPAT,SELL,27062,43.85,-
15-JAN-2010,BHARTISHIP,Bharati Shipyard Limited,MANIPUT INVESTMENTS PVT. LTD.,SELL,190295,338.90,-
15-JAN-2010,BHARTISHIP,Bharati Shipyard Limited,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,238111,335.56,-
15-JAN-2010,BHARTISHIP,Bharati Shipyard Limited,OM INVESTMENTS,SELL,148327,338.71,-
15-JAN-2010,BIRLACOT,Birla Cotsyn (India) Limi,AMAR KANAIYALAL CHAUHAN,SELL,4158729,1.50,-
15-JAN-2010,BIRLACOT,Birla Cotsyn (India) Limi,MONEYWISE FINANCIAL SERVICES PRIVATE LTD,SELL,15000000,1.40,-
15-JAN-2010,IFBAGRO,IFB Agro Industries Ltd,RAVIRAJ DEVELOPERS LTD,SELL,39852,95.73,-
15-JAN-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,6333138,22.70,-
15-JAN-2010,ITI,ITI Ltd.,TRANSGLOBAL SECURITIES LTD.,SELL,114095,54.37,-
15-JAN-2010,NELCO,Nelco Ltd.,BP FINTRADE PRIVATE LIMITED,SELL,142596,120.23,-
15-JAN-2010,RAMSARUP,Ramsarup Industries Limit,ASHISH JHUNJHUNWALA,SELL,690000,88.26,-
15-JAN-2010,SELAN,Selan Exploration Technol,WINTON ROAVIC PVT LTD,SELL,350000,370.17,-
15-JAN-2010,SELMCL,SEL Manufacturing Company,OM INVESTMENTS,SELL,97572,102.34,-
15-JAN-2010,SELMCL,SEL Manufacturing Company,TRANSGLOBAL SECURITIES LTD.,SELL,119855,101.43,-
15-JAN-2010,SURYAROSNI,Surya Roshni Ltd,BHARGAVI ATUL JAIN,SELL,133333,91.50,-
15-JAN-2010,SURYAROSNI,Surya Roshni Ltd,GUPTA RAKESH,SELL,143745,92.57,-
15-JAN-2010,TANTIACONS,Tantia Constructions Limi,OHM STOCK BROKER PVT. LTD.,SELL,80000,145.58,-
15-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,186405,435.74,-
15-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,CPR CAPITAL SERVICES LTD.,SELL,69800,438.26,-
15-JAN-2010,TODAYS,Todays Writing Products L,PAM PHARMACEUTICAL& ALLIED MACHINERYCO PVTLTD,SELL,82000,25.84,-
15-JAN-2010,TULSI,Tulsi Extrusions Limited,ANKITA VISHAL SHAH,SELL,95992,34.02,-
15-JAN-2010,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,3053779,21.41,-

RIL leads decline in late trade

The key benchmark indices ended a choppy trading session lower, defying mostly higher global stocks. The BSE 30-share Sensex was provisionally down 32.88 points or 0.19%, off close to 90 points from the day's high and up close to 20 points from the day's low. Metal and capital goods stocks fell. Index heavyweight Reliance Industries extended early fall. But, realty stocks rose. The market breadth turned negative in late trade in contrast to a strong breadth earlier in the day.

The market edged higher in early trade tracking higher Asian stocks. The market lost ground later. The market came off the day's lows in morning trade. The market hit a fresh intraday low in morning trade. It soon cut losses. The market moved between positive and negative terrain in mid-afternoon trade. The market recovered from lower level after hitting a fresh intraday low in late trade.

The world economy is still fragile but the recovery from the financial crisis has been significantly faster than the International Monetary Fund (IMF) expected, the head of the institution Dominique Strauss-Kahn said on Thursday. In his first news conference of the year in Washington, the IMF Managing Director said the IMF would unveil more upbeat growth forecasts in an update of the fund's World Economic Outlook later this month.

Meanwhile, money continues to pour into emerging market and bond funds and out of money markets, as well as commodities, fund tracker EPFR Global said on Friday, 15 January 2010. Renewed interest in Japanese equities, and outflows from commodity sector funds and global equity funds, have been the only real departure from fund flow patterns seen during 2009, EPFR said.

Asia ex-Japan equity funds absorbed $481 million during the week ended 13 January 2010, their best showing since early December 2009. However, China funds saw outflows for a third straight week -- the longest period of outflows since February 2009 -- totalling $287 million as Beijing's move to tighten monetary policy offset strong Chinese trade data.

Closer home, the headline inflation jumped to a one-year high in December 2009, reinforcing views the Reserve Bank of India (RBI) will start increasing reserve requirements later this month to contain price pressures as the economic recovery strengthens. Financial markets have mostly factored in a 50-basis point rise in the cash reserve ratio (CRR), the level of cash banks must keep with the central bank, on 29 January 2010 but recent strong data has raised expectations that policy rates might also be raised.

The wholesale price index rose 7.3% in December 2009 from a year earlier, its highest since November 2008 and accelerating from a 4.8% gain in November 2009, data showed on Thursday. The rise was driven by near 20% jump in food prices, which rose on weak monsoon rains and flooding in parts of the country. Inflation in manufacturing products picked up to 5.2% from 4% in November, a sign that inflationary pressures were spreading to other sectors of the economy.

Data also showed on Tuesday industrial output grew at faster-than-expected 11.7% in November from a year earlier. The purchasing managers' index rose to its highest since May in December while car sales rose an annual 40.3% last month.

The government, which is pressing the RBI to hold rates to ensure the $1.2 trillion economy's recovery, ordered this week the sale of stocked grain and extended duty-free sugar imports by another nine months, hoping to rein in high food inflation.

Meanwhile, a panel of experts will review over the next three months how to encourage foreign investment in the financial sector such as the bonds and the stock markets, the government said on Thursday. The panel, which has experts from both the private and the government sectors, will identify challenges in meeting the financing needs of the Indian economy through foreign investment, according to a government statement. The panel will take views on foreign investments till 10 February 2010, the statement said, and will submit its report by mid-March.

Government policy makers, including deputy chairman of Planning Commission Montek Singh Ahluwalia have said that India needs more capital flows especially for infrastructure sector.

Banks on Thursday urged the Reserve Bank of India (RBI) to keep interest rates stable at its policy review later this month, saying any increase could further dent sluggish demand for loans.

European shares rose on Friday, extending a winning run to three sessions, after results at US chipmaker Intel boosted hopes of a strong earnings season. The key benchmark indices in France, Germany and UK were up by between 0.31% to 0.37%.

The European Central Bank (ECB) on Thursday kept interest rates at a record low of 1% and the central bank President Jean-Claude Trichet made dovish comments. Trichet told a press conference that recent data suggest the euro-zone economy continued to grow in the fourth quarter of last year, but said many of the factors that have supported growth are temporary, and that future growth will continue to be constrained by the need of banks, households and governments to repair their balance sheets.

Trichet said Greece, which is suffering from fiscal crisis, would receive no special treatment from the central bank

Asian stocks reversed early losses. Most of the indices had fallen earlier in the day as weak US retail sales and a rise in US jobless claims made investors wary about the strength of its economic recovery, offsetting better-than-expected earnings from technology bellwether Intel. The key benchmark indices in China, Singapore, Taiwan, Japan and Indonesia rose by between 0.07% to 0.95%. But Hong Kong and South Korea fell by between 0.04% to 0.29%.

Data out from China on Friday showed that Chinese banks extended 379.8 billion yuan ($55.6 billion) in loans in December, bringing banking lending for the full year to 9.6 trillion yuan, a rise of 95.3% from the year earlier, according to data released Friday by the People's Bank of China. Money supply as measured by M2 was up 27.7% in December, easing slightly from November's 29.7% rise, the PBOC's data showed.

Trading in US index futures indicated a flat opening of US stocks on Friday, 15 January 2010.

Technology shares drove Wall Street higher on Thursday on bets ahead of Intel's quarterly results that business spending will bolster profits in the sector. Bank stocks gained after President Obama announced a tax that would amount to 90 billion dollars over 10 years against banks that received federal bailout funds. The Dow gained 29.78 points, or 0.3%, to 10,710.55. The broader Standard & Poor's 500 index rose 2.78 points, or 0.2%, to 1,148.46, and the Nasdaq Composite Index rose 8.84 points, or 0.4%, to 2,316.74.

In economic data, the latest initial jobless claims increased 11,000 from the previous week to 444,000. But continuing claims dropped larger than expected to 4.60 million. In other data, advance retail sales for December 2009 decreased 0.3%, which was weaker than the 0.5% increase that had been expected.

Closer home, as per provisional figures, the BSE 30-share Sensex was down 32.88 points or 0.19% at 17,551.99. The Sensex fell 55.76 points at the day's low of 17529.11 in late trade. At the day's high of 17,639.85, the Sensex rose 54.98 points in early trade.

The S&P CNX Nifty was down 9 points, or 0.17% to 5250.90 as per provisional figures.

The BSE Mid-Cap index rose 0.3% and the BSE Small-Cap index rose 0.4%. Both the indices outperformed the Sensex.

The market breadth, indicating the overall health of the market turned negative. Breadth was strong earlier in the day. On BSE, 1416 shares advanced compared with 1,530 that declined. A total of 76 shares remained unchanged.

Among the 30-member Sensex pack, 19 fell while the rest rose.

BSE clocked a turnover of Rs 6060 crore, lower than Rs 6216.58 crore on Wednesday, 14 January 2010.

Index heavyweight Reliance Industries (RIL) fell 1.17%, snapping last three 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.

Capital goods stocks fell on profit taking. ABB, Thermax, Crompton Greaves and Praj Industries, fell by between 0.46% to 1.65%.

India's largest power equipment maker by sales Bharat Heavy Electricals (BHEL) fell 0.26%. Bhel on Thursday said it has bagged a Rs 200-crore order from PowerGrid Corporation of India for supplying insulators for setting up transmission lines.

India's largest engineering & construction firm by sales Larsen & Toubro fell 0.74% extending Thursday's fall. 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

Metal stocks also fell on profit taking. Steel Authority of India, Hiindalco Industries, JSW Steel and Sterlite Industries fell by between 0.03% to 2.37%.

Tata Steel, the world's eighth-largest steelmaker fell 0.37%. The company said on 5 January 2010 sales from its Indian operations rose 73% in December 2009 to 636,000 tonnes from a year earlier. The Indian operations account for about a quarter of the group's total annual global capacity of 30 million tonnes, which includes unit Corus, Europe's second-largest steelmaker

Rate sensitive realty stocks rose on bargain hunting after last three days' losses. India's largest realty player by market capitalization DLF rose 0.52%. 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, Omaxe, Ackruti City, Unitech and Phoenix Mills rose by between 0.51% to 5.69%.

Automotive Axles jumped 9.18%, after net profit soared 9100% to Rs 6.44 crore in Q1 December 2009 over Q1 December 2008.

Grey Market Premiums - Jubilant Food Works, Birla Shloka

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	16 to 17

Daily News Roundup - Jan 15 2010

Wipro is set to launch a sponsored ADR offering that could possibly see the promoters and promoter group led by Azim Premji offloading some of their stake in the company. (ET)

BHEL has bagged Rs2bn order from PowerGrid for supplying insulators for setting up transmission lines. (ET)

Reliance Entertainment is likely to put in a bid for the iconic film studio Metro-Goldwyn-Mayer or MGM. (ET)

BPCL halts oil block buys, stresses on production. (FE)

Era Infra bags Rs16.59cr orders from NHAI. (FE)

Punj Llyod bags Rs5.74bn project in Thailand for oil facility. (FE)

NTPC to add 6,000MW each year in the 12th plan. (BS)

ITC’s stake in Hotel Leela rises to 7.37%. (BS)

Essar Group is indirectly transferring part of its Indian holding in Vodafone Essar to its overseas investment company. (ET)

Reliance Retail and partner Pearle Europe plan to open up to 700 stores of their eyewear retail chain 'Vision Express' across India in the next seven to eight years. (ET)

Government to divest 10% stake in Engineers India. (ET)

Holcim plans to invest US$1bn in setting up 2-3 greenfield cement making plants in the country in the next five years. (ET)

Promoters of Ansal Properties are going to buy out the public-listed companys education business subsidiary Knowledge Tree Infrastructure KTIL after hiving it off into a separate entity. (ET)

PowerGrid gets board nod for Nepal project. (ET)

Max India to issue Rs1.73bn warrants. (BS)

IDBI Bank has approached the Government to rejig capital structure. (BS)

Usha Martin to raise Rs5bn via QIP. (BS)

Tantia Constructions to dilute 10% equity. (BS)

Reliance Infratel IPO gets Sebi's nod. (FE)

INOX to buy 44% stake in Fame India. (BS)

Government to allow only foreign GSM companies to bid for 3G play. (ET)

Inflation rose the most in more than 12 months to 7.31% from a year earlier. (ET)

India’s vegetable oil imports rose by 5.61% in December
2009. (ET)

Oil ministry rules out hike in auto and domestic fuel prices. (FE)

Finance ministry is unwilling to pay the entire Rs317bn demanded as compensation by the petroleum ministry on behalf of the state-owned oil companies. (ET)

Steady start likely

Success is steady progress toward one's personal goals.

Two straight days of gains means that the NSE Nifty is yet again staring at 5300. Global cues are supportive though not by a great deal. A positive start is what we are looking for. A slew of big results are lined up and could swing the sentiment either way though we don’t see any nasty surprise.

It remains to be seen whether the Nifty manages to close above 5300, which in recent past has proved to be a tough barrier to break. If it does that it could head for 5350-5400 in the near term. On the downside support is at 5200. The bias remains cautiously optimistic but volatility will persist.

Inflation is a big worry and could play spoilsport. Though a CRR hike has already been discounted there are fears that the central bank may also turn hawkish as far as policy rates are concerned. In the long run, the Government needs to overcome supply side constraints to contain prices. Monetary policy has a limited role to play in bringing down inflation.

Results Today: Axis Bank, Balaji Tele, DCB, Escorts, Finolex Cables, HDFC Bank, IDBI Bank, IndusInd Bank, NIIT Tech, Shree Renuka Sugars, TCS and UCO Bank.

We expect TCS to post 3.2% QoQ growth in PAT. HDFC Bank is projected to report ~19% YoY jump in bottomline. Axis Bank is likely to report 2.3% YoY rise in PAT.

FIIs were net sellers in the cash segment on Thursday at Rs3.12bn on a provisional basis. The local funds were net buyers of Rs5.29bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs2.54bn. As per the SEBI figures, FIIs were net sellers of Rs435mn in the cash segment on Monday.

US stocks rose on Thursday, led by technology shares. The Dow Jones Industrial Average added 30 points, or 0.3%. The S&P 500 index added 3 points, or 0.2%. Both closed at the highest point since Oct. 1, 2008. The Nasdaq Composite rose 9 points, or 0.4%, ending at the highest point since Sept. 3, 2008.

After the close, Dow component Intel said it earned 40 cents per share in the fourth quarter on sales of $10.6 billion. Both earnings and sales trounced estimates and marked a sharp improvement from the previous year. The stock gained 2% in extended-hours trading.

Overall S&P 500 earnings are expected to have risen more than 200% from the previous year, the worst quarter in Thomson's history. JPMorgan Chase is due to report results Friday morning. The financial behemoth is expected to have earned 66 cents per share on revenue of $27 billion.

Stocks ended higher on Wednesday, with the Dow closing at a 15-month high. After a weak start Thursday, stocks turned higher, despite the day's mixed economic news.

Retail sales fell 0.3% in December, the government reported Thursday. The report was a surprise to economists who were expecting sales to have risen 0.5%, according to a consensus of economists. Sales rose a revised 1.8% in November.

Retail sales excluding autos fell 0.2% in December after rising 1.9% in the previous month. Economists thought they would rise 0.3%.

The National Retail Federation said holiday sales for the November-December period rose 1.1%, a better showing than the retail group's forecast of a 1% decline.

The number of Americans filing new claims for unemployment rose last week to 444,000 from 433,000 in the previous week. Economists thought claims would rise to 437,000.

Continuing claims, a measure of Americans who have been receiving benefits for a week or more, fell to 4.596 million from 4.807 million in the previous week. Economists thought claims would fall to 4.750 million.

November business inventories rose 0.4% after rising 0.4% in the previous month. Economists thought claims the increase would be 0.3%.

President Obama proposed a plan to tax companies that took bailout funds, legislation he says is necessary to make sure the banks return the money they accepted in full.

The dollar fell against the euro and gained versus the yen.

COMEX gold for February delivery rose $6.20 to settle at $1,143 an ounce. Gold closed at an all-time high of $1,218.30 an ounce last month.

US light crude oil for February delivery fell 26 cents to settle at $79.39 a barrel on the New York Mercantile Exchange.

Treasury prices rallied, lowering the yield on the 10-year note to 3.73% from 3.79% late on Wednesday.

European shares held on to small gains to close slightly higher, boosted by miners, while signs remained of a patchy global economic recovery.

The pan-European Dow Jones Stoxx 600 index rose 0.7% to close at 258.84, the second straight day of gains for the index.

Miners and metal stocks were one of the key supports for the index.

German DAX index rose 0.4% to close at 5,988.88, the French CAC-40 index advanced 0.4% to end at 4,015.77. The U.K. FTSE 100 index settled 0.5% higher at 5,498.20, helped by the mining sector gains.

A day after snapping a four-day losing streak, the Indian market extended gains for a second straight trading session on Thursday. Firm global cues helped the key indices start off with healthy gains, although there was an intra-day blip where the BSE Sensex slipped slightly on account of profit booking. However, as the day progressed, the bulls regained the lost composure. Strength in index heavyweights like Reliance Industries, ONGC and Infosys ensured there were no further hiccups. Wipro was one of the star performers of the day.

India’s inflation, as measured by the wholesale price index (WPI), stood at 7.31% for December 2009 as compared to 4.78% for the previous month. Inflation was at 6.15% during the corresponding month of the previous year.

Inflation for Food Articles rose to 3.11% in December 2009 as compared to 2.70% in the same period last year. Non-Food Articles inflation rose to 0.48% from 0.12% in December 2008 and Minerals inflation was at -0.06% versus -0.03% in December 2008.

The BSE Sensex advanced 75 points to end at 17,584 after touching a high of 17,628 and a low of 17,532. The Nifty added 25 points to end at 5,260.

Equity markets in Asia ended in the green. The Nikkei in Japan was up 1.6%, while Australia's S&P/ASX ended higher by 0.6%. The Shanghai SE Composite was up 1.6% and Hang Seng index in Hong Kong was flat.

In Europe, stocks were trading higher as well. The DAX in Germany was up 0.6% and the CAC 40 index in France was up 0.6%. The FTSE in the UK was up 0.6%.

Coming back to India, among the BSE sectoral indices, the Oil & Gas index was the top gainer, adding 2.3%, followed by the Consumer Durables index that was up 2% and the BSE PSU index was up 0.9%. The BSE Mid-Cap index advanced 1% while BSE Small-Cap index added 1.2%.

Among the 30-components of Sensex, 15 stocks ended in the negative terrain and 15 ended in the green. RCom, Wipro, ONGC, Reliance Industries, BHEL and Sterlite Industries were among the top gainers.

On the other hand, HUL, Tata Power, Hero Honda, Reliance Infra and DLF were among the top losers.

Outside the frontline indices, the big gainers in the broader market were Sterline Bio, Koutons Retail, TTML, REC and Federal Bank. On the other hand, losers included Sintex Ind, Madras Cem, PTC and Renuka Sugar.

Wipro Ltd.’s founders, including Chairman of the company Azim Premji are reportedly planning to sell a part of their shares and are planning a US$1bn sponsored American depositary receipts (ADR) issue. Citigroup, Credit Suisse, Morgan Stanley and Goldman Sachs may manage Wipro’s ADR offer, reports added.

The stock surged by 3.5% to end at Rs741, it opened at Rs715.5 touching an intra-day high of Rs752 and a low of Rs705 and recorded volumes of over 1mn shares on BSE.

The Securities and Exchange Board of India has reportedly cleared the draft share-sale document filed by Reliance Infratel Ltd. Shares of Reliance Communication surged by over 4% to end at Rs183. The scrip opened at Rs177 it touched an intra-day high of Rs184 and a low of Rs175 and recorded volumes of over 2.6mn shares on BSE.

Usha Martin plans to raise Rs5bn by selling shares to large investors. The company is planning to sell shares for at least Rs85.9 per share. The sale would be managed by Equirus Capital Pvt.

Shares of Usha Martin gained by 2% to end at Rs89. The scrip opened at Rs88.9 it touched an intra-day high of Rs90 and a low of Rs85.30 and recorded volumes of over 0.8mn shares on BSE.

Shares of Sasken Communication shot up by over 3% to end at Rs201 after Reliance Capital Trustee acquired nearly 0.31mn shares of the company at an average price of Rs185 on January 13, 2010. While, Nortel Networks Mauritius Ltd was the seller for the same. The scrip opened at Rs199.5 it touched an intra-day high of Rs206.8 and a low of Rs199.4 and recorded volumes of over 0.98mn shares on BSE.

Shares of Punjab Chemicals added 1.5% to end at Rs180 after the board of directors approved to raise Rs2bn by various routes from domestic and international markets. The company would raise the amount by issue of securities or foreign currency convertible bonds (FCCBs) from the domestic or international markets.

Era Infra announced that the company in association with OJSC-SIBMOST, has bagged the prestigious orders from NHAI for an estimated cost Rs16.59bn. Shares of ERA Infra gained by 2.5% to end at Rs210. The scrip opened at Rs206 it touched an intra-day high of Rs213 and a low of Rs206 and recorded volumes of over 0.52mn shares on BSE.

Market may extend two days gains on positive Asian stocks; TCS eyed

The market may extend last two days gains on positive Asian stocks. US stocks rose on Thursday on better than estimated result by Intel Corp. Investors will closely watch Q3 December 2009 result from IT major Tata Consultancy Services (TCS) and banking majors HDFC Bank and Axis Bank due later in the day today.

The inflation jumped to a one-year high in December, reinforcing views the Reserve Bank of India (RBI) will start increasing reserve requirements later this month to contain price pressures as the economic recovery strengthens. Markets have mostly factored in a 50-basis point rise in the cash reserve ratio (CRR), the level of cash banks must keep with the central bank, on 29 January 2010 but recent strong data has raised expectations that policy rates might also be raised.

The wholesale price index rose 7.3 % in December from a year earlier, its highest since November 2008 and accelerating from a 4.8 % gain in November, data showed on Thursday. The rise was driven by near 20 % jump in food prices, which rose on weak monsoon rains and flooding in parts of the country, but inflation in manufacturing products picked up to 5.2 % from 4 % in November, a sign that inflationary pressures were spreading to other sectors of the economy.

Data also showed on Tuesday industrial output grew at faster-than-expected 11.7 % in November from a year earlier. The purchasing managers' index rose to its highest since May in December while car sales rose an annual 40.3 % last month.

The government, which is pressing the RBI to hold rates to ensure the $1.2 trillion economy's recovery, ordered this week the sale of stocked grain and extended duty-free sugar imports by another nine months, hoping to rein in high food inflation.

Meanwhile, a panel of experts will review over the next three months how to encourage foreign investment in the financial sector such as the bonds and the stock markets, the government said on Thursday. The panel, which has experts from both the private and the government sectors, will identify challenges in meeting the financing needs of the Indian economy through foreign investment, according to a government statement. The panel will take views on foreign investments till 10 February 2010, the statement said, and will submit its report by mid-March.

Federal policy makers, including deputy chairman of Planning Commission Montek Singh Ahluwalia have said that India needs more capital flows especially for infrastructure sector.

Banks on Thursday urged the Reserve Bank of India (RBI) to keep interest rates stable at its policy review later this month, saying any increase could further dent sluggish demand for loans.

Most Asian stocks rose after early volatility on Friday as a better-than-estimated revenue prediction from Intel Corp. countered declines by energy shares after oil prices fell. The key benchmark indices in China, Indonesia, Hong Kong, South Korea, Singapore and Taiwan rose by between 0.18% to 0.75%. But Japan's Nikkei fell 0.17%.

Technology shares drove Wall Street higher on Thursday on bets ahead of Intel's quarterly results that business spending will bolster profits in the sector. Bank stocks gained after President Obama announced a tax that would amount to 90 billion dollars over 10 years against banks that received federal bailout funds. The Dow gained 29.78 points, or 0.3%, to 10,710.55. The broader Standard & Poor's 500 index rose 2.78 points, or 0.2%, to 1,148.46, and the Nasdaq Composite Index rose 8.84 points, or 0.4, to 2,316.74.

In economic data, the latest initial jobless claims increased 11,000 from the previous week to 444,000. But continuing claims dropped larger than expected to 4.60 million. In other data, advance retail sales for December 2009 decreased 0.3%, which was weaker than the 0.5% increase that had been expected.

Closer home, the key indices edged higher on Thursday 14 January 2010, gaining for the second straight day on firm Asian stocks. The BSE 30-share Sensex rose 75.07 points or 0.43% at 17,584.87.

As per provisional figures on NSE, foreign funds sold shares worth Rs 312.01 crore and domestic funds bought shares worth Rs 529.12 crore on Thursday.

US stocks end higher despite mediocre data

Strong expectations from Intel earnings fuel a modest rally at Wall Street

Buoyed by the healthcare, technology and financial sectors, US stocks registered modest gains on Thursday, 14 January 2010. Though economic data for the day checked in worse than expected, stocks found momentum from earning expectation from tech bellwether Intel that was due to report its earnings after today's close.

At the end of the day on Thursday, 14 January, 2010, the Dow Jones Industrial Average ended higher by 29.78 points at 10,710.55. Nasdaq ended higher by 8.84 points at 2316.74. S&P 500 ended higher by 2.78 points at 1148.46. Earlier in the day, Dow opened the session lower by 5 points.

Four of ten economic sectors ended in the green led by healthcare, technology, energy, and financial sectors. Telecom and material sectors lagged. Consumer staples were the only sector to finish unchanged.

JP Morgan Chase and Intel were the main Dow winners while AT&T, Verizon, WalMart and Walt Disney were the main Dow losers.

Intel, which was scheduled to report its latest quarterly results after the closing bell, led the tech sector to a modest gain today.

Materials stocks were weak once again today. The sector was down amid renewed weakness in shares of Monsanto. The Justice Dept. in US confirmed that it is investigating the possibility of anticompetitive practices in the seed industry.

Among economic data expected for the day, The Commerce Department in US reported on Thursday, 14 January 2010 that U.S. retail sales was disappointing in December, falling a seasonally adjusted 0.3% on widespread weakness across different kinds of stores. The decline was unexpected. Market was forecasting a 0.5% gain.

Auto sales disappointed in December, dropping 0.8% in dollar terms even as the automakers reported higher unit sales. Excluding the 0.8% decline in auto sales, retail sales fell 0.2%.

Separately, The Labor Department in US reported on Thursday, 14 January 2010 that first-time jobless claims rose last week by the largest amount in five weeks. Initial claims rose by 11,000 to 444,000 in the week ended 9 January 2010. This was the highest level since mid-December. The average number of workers filing claims over the past four weeks fell by 9,000 to 440,750. This is the lowest since late August 2008. The four-week average is considered a better gauge of the labor market than the volatile weekly number.

A separate report showed U.S. business inventories rose slightly more than expected, up 0.4% in November, to $1.3 trillion, fueled chiefly by rising wholesale and manufacturing stockpiles.

Crude oil prices ended lower for fourth straight day on Thursday, 14 January 2010. Prices fell following disappointing batch of economic data spurring concerns about demand for oil in coming months. Prices also slipped as energy department reported yesterday in its latest weekly inventory report more than expected buildup in crude inventories for last week.

On Thursday, crude-oil futures for light sweet crude for February delivery closed at $79.29/barrel (lower by $0.26 or 0.3%). Crude ended last week higher by 4.3%. On a year to date basis till date, crude is lower by 0.3%.

In the currency market on Thursday, the dollar index, which weighs the strength of dollar against the basket of six other currencies erased earlier gains and fell by almost 0.1%.

Indian ADRs ended mixed on Thursday, 14 January 2010. Wipro Technologies shed the most slipping 6.8%. Rediff.com gained 2%.

Tomorrow, the day will feature economic reports including CPI, core CPI and Empire Manufacturing Survey.

Morning Newsletters - Jan 15 2010

Morning Newsletters - Jan 15 2010

Copper drops on demand concerns

Weak retail sales data in US hammers red metal price

Base metal prices continued to drop on Thursday, 14 January 2010. Prices fell following disappointing batch of economic data spurring concerns about demand for metals in coming months.

At USA, copper futures for March delivery ended lower by 1.25 cents (0.4%) to 3.3875 a pound. Earlier during the day, prices rose by 1.3%. Last week, copper ended higher by 1.6%. This year, till date, copper is lower by 1.3%. Copper ended FY 2009 higher by 140%.

At LME, copper for delivery in three months was almost unchanged at $7,490. On 3 July, 2008, prices had touched an all time intra day high of $8,940.

Copper ended substantially higher last year on expectations of revived global economic growth along with a decline in the dollar. The dollar index had dropped almost 4.2% last year. The metal was also pushed higher by record first-half imports to China, the world's largest user.

In the currency market on Thursday, the dollar index, which weighs the strength of dollar against the basket of six other currencies erased earlier gains and fell by almost 0.1%.

The Commerce Department in US reported on Thursday, 14 January 2010 that U.S. retail sales was disappointing in December, falling a seasonally adjusted 0.3% on widespread weakness across different kinds of stores. The decline was unexpected. Market was forecasting a 0.5% gain.

Separately, the Labor Department in US reported on Thursday, 14 January 2010 that first-time jobless claims rose last week by the largest amount in five weeks. Initial claims rose by 11,000 to 444,000 in the week ended 9 January 2010. This was the highest level since mid-December.

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.

At the MCX, copper for February delivery closed lower by Rs 0.3 (0.08%) at Rs 341.6/Kg. Prices rose to a high of Rs 346.25/Kg and fell to a low of Rs 340.9/Kg during the day's trading.

Among other metals traded in the LME on Thursday, lead dropped 0.8% to end at $2,460 a ton and zinc gained 0.8% to end at $2,508 a ton. Nickel was little changed at $18,304. Aluminium advanced 1.3% to end at $2,324 a ton.

Crude stays below $80

Prices drop following disappointing batch of economic data

Crude oil prices ended lower for fourth straight day on Thursday, 14 January 2010. Prices fell following disappointing batch of economic data spurring concerns about demand for oil in coming months. Prices also slipped as energy department reported yesterday in its latest weekly inventory report more than expected buildup in crude inventories for last week.

On Thursday, crude-oil futures for light sweet crude for February delivery closed at $79.29/barrel (lower by $0.26 or 0.3%). Crude ended last week higher by 4.3%. On a year to date basis till date, crude is lower by 0.3%.

Crude ended FY 2009 higher by 78%, the highest yearly gain since 1999. It reached a high of $82 earlier in October 2009 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 44% since then. Crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex.

In the currency market on Thursday, the dollar index, which weighs the strength of dollar against the basket of six other currencies erased earlier gains and fell by almost 0.1%.

The Commerce Department in US reported on Thursday, 14 January 2010 that U.S. retail sales was disappointing in December, falling a seasonally adjusted 0.3% on widespread weakness across different kinds of stores. The decline was unexpected. Market was forecasting a 0.5% gain.

Separately, the Labor Department in US reported on Thursday, 14 January 2010 that first-time jobless claims rose last week by the largest amount in five weeks. Initial claims rose by 11,000 to 444,000 in the week ended 9 January 2010. This was the highest level since mid-December.

The EIA reported yesterday that crude-oil supplies rose by 3.7 million barrels in the week ended 8 January, 2009. Market was expecting a buildup of 1.9-million-barrel increase. The report also showed that U.S. distillate inventories were up 1.4 million barrels.

Earlier during the week, in its monthly short-term outlook, EIA reported that West Texas crude-oil prices, which averaged about $62 a barrel last year, will average about $79.83 this year and about $83.5 in 2011. Prices should average $77 in the first quarter and $85 in the fourth quarter this year. The forecast assumes U.S. growth of 2% this year and 2.7% in 2011. In its December outlook, the EIA forecast that world oil consumption will grow in 2010 by 1.1 million barrels a day to put the total daily figure at 85.2 million barrels.

Also on Thursday, natural gas for February delivery slumped 14 cents, or 2.4%, to $5.73 per British thermal units. The Energy Information Administration reported a drop of 266 billion cubic feet in storage of natural gas for last week, slightly more than expected.

At the MCX, crude oil for January delivery closed Rs 16 (0.3%) lower at Rs 3,634/barrel. Natural gas for January delivery closed lower by Rs 9.7 (3.7%) at Rs 252.1/mmbtu.

Bullion metals add more glitter

Prices rise as dollar stays weak following disappointing data

Precious metal prices rose once again on Thursday, 14 January 2010. Prices rose as the dollar stayed relatively weak for the entire day after disappointing batch of economic data.

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 Thursday, gold for February delivery ended at $1,143 an ounce, higher by $6.2 (0.5%) an ounce on the New York Mercantile Exchange. Earlier during the day, it rose to a high of $1146.7 and fell to a low f $1130.7. Last week, it had ended higher 3.9%. Year to date in FY 2010, gold has risen by almost 4.3%.

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 Thursday, March Comex silver futures ended higher by 11 cents (0.6%) at $18.66 an ounce. Last week, silver ended higher by 9.6%. Year to date in FY 2010, silver has risen by almost 11.3%.

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 Thursday, the dollar index, which weighs the strength of dollar against the basket of six other currencies erased earlier gains and fell by almost 0.1%.

The Commerce Department in US reported on Thursday, 14 January 2010 that U.S. retail sales was disappointing in December, falling a seasonally adjusted 0.3% on widespread weakness across different kinds of stores. The decline was unexpected. Market was forecasting a 0.5% gain.

Separately, the Labor Department in US reported on Thursday, 14 January 2010 that first-time jobless claims rose last week by the largest amount in five weeks. Initial claims rose by 11,000 to 444,000 in the week ended 9 January 2010. This was the highest level since mid-December.

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 higher by Rs 101 (0.6%) at Rs 16,894 per ten grams. Prices rose to a high of Rs 16,925 per 10 grams and fell to a low of Rs 16,811 per 10 grams during the day's trading.

At the MCX, silver prices for March delivery closed Rs 108 (0.4%) higher at Rs 28,406/Kg. Prices opened at Rs 28,399/kg and rose to a high of Rs 28,459/Kg during the day's trading.