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Thursday, January 21, 2010
Rupee at 2-week low
Ends at 46.04/05 per dollar
Rupee extended losses for a third day on Thursday and slipped to its lowest close in over two weeks as a stock market slide added to concerns about a strengthening dollar.
Rupee ended down 0.2 percent at 46.04/05 per dollar, its weakest close since Jan. 6 and below the previous day's 45.93/94. It fell to as low as 46.10 during trade.
Eastern winds blow markets cold
Global signals
European shares were flat in early trades with weakness in banks and miners just offsetting the gains in defensive drug makers, as investors stayed cautious ahead of further corporate earnings from the USA.
All the major Asian indices closed mixed.
Indian indices
The market lost the grip that it has built initially and suffered heavy losses on late selling in capital goods (CG), power, public sector units (PSUs) and other major counters. The market opened dead flat (same as yesterday’s closing) at 17474 and slid but remained with a range. After slipping below 1400 level in noon trades, it plunged deep into red towards the close on unabated selling in CG, power and PSU stocks, falling almost 450 points below its opening to touch the day's low of 17025. The Sensex signed off the session 2.42% or 423 points down at 17051. Nifty tumbled 128 points to close at 5094.
Sensex sentiment
The market breadth was very weak. Of the 3,004 stocks traded on the BSE, 2,424 stocks declined, whereas 535 stocks advanced. 45 stocks ended unchanged.
Sectoral & stock screening
Bears trampled all the sectors with the BSE CG hit the most, by 5.15%. BSE Power was hit 3.47% and BSE PSU lost 2.98%. BSE Realty was down by 3820.93. the remaining sector indices slipped by around 1-2% each.
Bears hit all the 30 Sensex stocks into red led by Larsen & Toubro (down 6.85%), Tata Power (down 4.46%), Bharat Heavy Electricals (down 4.12%), Sterlite Industries (down 3.78%), HDFC (down 3.37%) and Reliance Infrastructure (down 3.20%).
Viewing volumes
PSU Rastriya Chemicals and Fertilisers (RCF) was the most actively traded scrip with over 1.43 crore shares changing hands on BSE followed by Realty major Unitech (0.73 crore shares), wind turbine maker Suzlon Energy (0.69 crore shares), Lanco Infrastructure (0.67 crore shares) and Ispat Industries (0.63 crore shares).
Today's major news
Dr Reddy's Laboratories reported Rs522-crore loss in Q3FY2010; the stock closes 6.55% lower
Government of India to relax foreign direct investment (FDI) norms
State Bank of India (SBI) sees credit growth at 20% for FY2011; the stock sheds 1.66%
Larsen & Toubro slips on disappointing Q3 numbers; the stock shots down 6.84%
Mercator Lines bags $225 million contract; the stock loses 1.86%
ICICI Bank – Q3FY2010 results
ICICI Bank reported a bottomline of Rs1101 crore for Q3FY2010, indicating an decline of 13.4% yoy. The same was above our estimate of Rs 1037 crore.
The net interest income for the quarter came in at Rs2058 crore, up 3.4% yoy.
The non-interest income for the quarter stood at Rs1673 crore, down 33.5% yoy. This amount includes Rs202.9 crore gain on sale of stake in ICICI Merchant Services.
Provisions were flattish yoy at Rs1002 crore.
Asset quality was largely stable with GNPA decreasing by 3% sequentially to Rs.8925 crore (%GNPA: 4.84%).
We maintain our Buy recommendation on the stock.
In today’s trade ICICI Bank closed at Rs853.35 down by 2.71% with a volume of 9.34 lac shares on the BSE.
BSE Bulk Deals to Watch - Jan 21 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
21/1/2010 524412 Aarey Drugs DAXABEN VASANTKUMAR SHAH B 31631 49.93
21/1/2010 524412 Aarey Drugs SHAH JIPAL PINESHKUMAR S 37200 49.73
21/1/2010 524412 Aarey Drugs DAXABEN VASANTKUMAR SHAH S 29720 49.65
21/1/2010 524412 Aarey Drugs NITA BANKESH BHAVSAR S 36183 49.59
21/1/2010 511706 Action Fin MADHAV FAB TRADE PRIVATE LIMITED B 53514 20.61
21/1/2010 511706 Action Fin ALKA ASHOK KARIA S 139533 20.95
21/1/2010 532331 Ajanta Pharma OPG SECURITIES P LTD B 62782 146.79
21/1/2010 532331 Ajanta Pharma OPG SECURITIES P LTD S 62782 146.67
21/1/2010 505216 Alfred Herbert M G L HOLDINGS PVT LTD B 11199 189.47
21/1/2010 505216 Alfred Herbert M G L HOLDINGS PVT LTD S 11199 195.14
21/1/2010 505216 Alfred Herbert CAMPHAR SEC.& ADV.P.LTD. S 4031 189.08
21/1/2010 513401 Ashiana Ispat VISHAL AGARWAL B 24050 16.73
21/1/2010 505506 Axon Infotech SHYAM SUNDAR BINNANI HUF B 4000 30.55
21/1/2010 505506 Axon Infotech ALOK GUPTA B 5000 30.46
21/1/2010 505506 Axon Infotech DINESH KUMAR JHUNJHUNWALA B 8000 30.40
21/1/2010 505506 Axon Infotech ABSOLUTE LEASING & FINANCE PVT LTD S 13280 30.08
21/1/2010 531590 Bilpower OPG SECURITIES P LTD B 53626 209.78
21/1/2010 531590 Bilpower OPG SECURITIES P LTD S 53626 209.58
21/1/2010 531590 Bilpower NIKUNJ ALLOYS AND STEEL PRIVATE LIMITED S 81137 203.12
21/1/2010 532113 Brijlaxmi Leas RICHA AGARWAL B 507000 0.92
21/1/2010 532113 Brijlaxmi Leas ABHISHEK HIRAWAT S 350156 0.88
21/1/2010 531923 Dhampure Spec SAINATH HERBAL CARE MARKETING P.LTD B 75000 38.83
21/1/2010 530337 Exelon Infra TAMAGHNA MUKHERJEE B 32845 49.37
21/1/2010 530337 Exelon Infra TAMAGHNA MUKHERJEE S 35110 49.29
21/1/2010 530337 Exelon Infra GANESH KUMAR DHANUKA S 28905 49.07
21/1/2010 511668 Fact Enterprise HITESH SHASHIKANT JHAVERI B 38353 25.80
21/1/2010 511668 Fact Enterprise JMP SECURITIES PVT LTD B 40013 25.08
21/1/2010 511668 Fact Enterprise JMP SECURITIES PVT LTD S 40013 26.10
21/1/2010 511668 Fact Enterprise M/S RUKHMANI TRADERS S 30842 25.61
21/1/2010 532631 Fame India FIDUCIARY GLOBAL MARKETS LIMITED B 345359 42.96
21/1/2010 590024 Fert & Chem Trv SETU SECURITIES PVT LTD B 40499 66.46
21/1/2010 590024 Fert & Chem Trv GENUINE STOCK BROKERS PVT. LTD. B 111137 66.31
21/1/2010 590024 Fert & Chem Trv TRANSGLOBAL SECURITIES LTD. B 308920 64.78
21/1/2010 590024 Fert & Chem Trv DB (INTL) OWN TRADING B 146150 63.59
21/1/2010 590024 Fert & Chem Trv KHANDWALA TRADE LINK CO B 37940 63.58
21/1/2010 590024 Fert & Chem Trv MUKESH KUMAR BACHHAWAT B 43740 64.88
21/1/2010 590024 Fert & Chem Trv AJAY AGARWAL B 66000 66.35
21/1/2010 590024 Fert & Chem Trv R B K SHARE BROKING LIMITED B 100785 65.88
21/1/2010 590024 Fert & Chem Trv Naman Securities & Finance Pvt. Ltd. B 64840 66.02
21/1/2010 590024 Fert & Chem Trv MACY SECURITIES PRIVATE LIMITED B 67000 64.43
21/1/2010 590024 Fert & Chem Trv SHRI BRIJ COMMODITIES PRIVATE LIMITED B 30934 66.10
21/1/2010 590024 Fert & Chem Trv SHRI BRIJ SECURITIES PVT LTD B 43453 65.81
21/1/2010 590024 Fert & Chem Trv LATIN MANHARLAL SEC.PVT.LTD. B 164711 65.67
21/1/2010 590024 Fert & Chem Trv SHAMEEM SULTANALI LADAK B 31813 61.20
21/1/2010 590024 Fert & Chem Trv ANSHU SAXENA B 32564 63.91
21/1/2010 590024 Fert & Chem Trv A.A.DOSHI SHARE & STOCK BROKERS LTD B 68851 65.71
21/1/2010 590024 Fert & Chem Trv GENUINE STOCK BROKERS PVT. LTD. S 111137 66.40
21/1/2010 590024 Fert & Chem Trv TRANSGLOBAL SECURITIES LTD. S 308454 64.88
21/1/2010 590024 Fert & Chem Trv DB (INTL) OWN TRADING S 146839 63.88
21/1/2010 590024 Fert & Chem Trv KHANDWALA TRADE LINK CO S 37940 63.76
21/1/2010 590024 Fert & Chem Trv MUKESH KUMAR BACHHAWAT S 43740 64.83
21/1/2010 590024 Fert & Chem Trv AJAY AGARWAL S 61000 65.92
21/1/2010 590024 Fert & Chem Trv R B K SHARE BROKING LIMITED S 56849 65.39
21/1/2010 590024 Fert & Chem Trv Naman Securities & Finance Pvt. Ltd. S 60041 66.10
21/1/2010 590024 Fert & Chem Trv MACY SECURITIES PRIVATE LIMITED S 55000 62.75
21/1/2010 590024 Fert & Chem Trv SHRI BRIJ COMMODITIES PRIVATE LIMITED S 30934 66.02
21/1/2010 590024 Fert & Chem Trv SHRI BRIJ SECURITIES PVT LTD S 43453 65.82
21/1/2010 590024 Fert & Chem Trv LATIN MANHARLAL SEC.PVT.LTD. S 160711 65.79
21/1/2010 590024 Fert & Chem Trv SHAMEEM SULTANALI LADAK S 31813 62.75
21/1/2010 590024 Fert & Chem Trv ANSHU SAXENA S 30764 63.63
21/1/2010 590024 Fert & Chem Trv A.A.DOSHI SHARE & STOCK BROKERS LTD S 68851 65.75
21/1/2010 505712 Gujarat Auto PREMLATA JAIN S 1856 383.01
21/1/2010 532658 Indo Asian Fuse PKR HITECH INDUSTRIAL COPORATION LLP B 115000 68.80
21/1/2010 532658 Indo Asian Fuse VPM INDUSTRIAL CORPORATION LLP S 115000 68.80
21/1/2010 522183 ITL Inds BULBUL AHMED B 64437 47.71
21/1/2010 522183 ITL Inds NINJA SECURITIES PRIVATE LIMITED S 26397 46.40
21/1/2010 523467 Jai Mata Glass GROWMORE PROPERTIES PVT LTD S 292397 2.64
21/1/2010 524826 Jupiter Biosc ASIT C MEHTA INVESTMENT INTERMEDIATES LTD B 86030 100.88
21/1/2010 524826 Jupiter Biosc ASIT C MEHTA INVESTMENT INTERMEDIATES LTD S 86030 101.63
21/1/2010 511131 Kamanwala Hous NISHA SUMANJAIN B 82000 64.47
21/1/2010 530255 KAY Power KAUSHALYA GARG B 95735 15.81
21/1/2010 530255 KAY Power BAMPSL SECURITIES LTD. B 101134 15.31
21/1/2010 530255 KAY Power KAUSHALYA GARG S 103209 15.06
21/1/2010 530255 KAY Power BAMPSL SECURITIES LTD. S 111859 15.93
21/1/2010 531602 Koffee Break SUNIL SHAH B 404577 3.12
21/1/2010 531731 Kuvam Intl VANITA BHALLA S 15500 47.84
21/1/2010 501209 Maestros Med ASTRA MERCHANDISING PVT. LTD B 100000 55.00
21/1/2010 501209 Maestros Med EMPIRE LTD S 100000 55.00
21/1/2010 590111 MASTER TEJANAGA VENKAT AAMBICA RAMASUDAR SANPERLA S 32700 55.57
21/1/2010 526263 Moldtek Tech M G L HOLDINGS PVT LTD B 30271 82.25
21/1/2010 526263 Moldtek Tech M G L HOLDINGS PVT LTD S 30271 84.29
21/1/2010 526263 Moldtek Tech SUDHARANI JANU MAHANTI S 20300 83.55
21/1/2010 590011 Moving Picture ASTRA MERCHANDISING PVT. LTD B 50000 4.70
21/1/2010 590011 Moving Picture MAGNUS CAPITAL CORPORATION LTD. S 50000 4.71
21/1/2010 519323 Murli Inds CHETAN KANTILAL MEHTA B 58482 335.77
21/1/2010 531834 Natura Hue Chem MITESH JAYANTLAL THAKKAR B 41000 48.03
21/1/2010 531834 Natura Hue Chem NAINA SANJEEV MALHOTRA S 35165 48.16
21/1/2010 531834 Natura Hue Chem SANJEEV RAMESH MALHOTRA S 31155 47.13
21/1/2010 500307 Nirlon INDIA DEEP VALUE FUND B 370951 74.05
21/1/2010 531996 Odyssey Corp REETA GUPTA B 35000 38.19
21/1/2010 531496 Omkar Overseas JASMINE DEALCOM PRIVATE LIMITE B 25000 54.00
21/1/2010 531496 Omkar Overseas HARISHCHANDRA S RAJBHAR B 25000 50.20
21/1/2010 531496 Omkar Overseas AMBIKA SHYAM SHUKLA B 60000 50.20
21/1/2010 531496 Omkar Overseas SHANKARLAL GOPIRAM AGARWAL S 50000 50.20
21/1/2010 531496 Omkar Overseas OMKARMAL GOPIRAM AGARWAL S 50000 50.20
21/1/2010 531496 Omkar Overseas VIJAY VELJIBHAI PADHARIA S 25546 52.48
21/1/2010 532882 Omnitech Info PRIMORE SOLUTIONS PVT.LTD S 76643 195.30
21/1/2010 524689 Parenteral Drug MONEY MATTERS ADVISORY SERVICES LIMITED B 100000 225.00
21/1/2010 524689 Parenteral Drug DHANANJAYA MONEY MANAGEMENT SERVICES PVT LTD B 82975 224.19
21/1/2010 524689 Parenteral Drug DHANANJAYA MONEY MANAGEMENT SERVICES PVT LTD S 100000 225.01
21/1/2010 511702 Parsharti Inv KRUPASANJAY SONI B 37740 40.28
21/1/2010 511702 Parsharti Inv ANANDKUMAR MOHANLAL PATEL B 16000 41.59
21/1/2010 511702 Parsharti Inv PRASHANT ARVINDBHAI MEVADA B 17629 39.75
21/1/2010 511702 Parsharti Inv AXIOM CAPITAL ADVISORS PRIVATE LIMITED B 87681 41.41
21/1/2010 511702 Parsharti Inv KRUPASANJAY SONI S 47829 40.48
21/1/2010 511702 Parsharti Inv BHAVESH SHANTILAL TRIVEDI S 19139 43.01
21/1/2010 511702 Parsharti Inv PRASHANT ARVINDBHAI MEVADA S 17629 40.18
21/1/2010 511702 Parsharti Inv J M SONI CONSULTANCYJ M SONI CONSULTANCY S 21000 42.13
21/1/2010 511702 Parsharti Inv AXIOM CAPITAL ADVISORS PRIVATE LIMITED S 87681 41.18
21/1/2010 511702 Parsharti Inv SANJAY JETHALAL SONI S 46291 42.81
21/1/2010 511702 Parsharti Inv SONI KRUPA SANJAY S 17150 42.97
21/1/2010 517417 Patels Airtmp J V STOCK BROKING PRIVATE LIMITED B 39368 125.86
21/1/2010 517417 Patels Airtmp GAURAV DOSHI B 30044 129.15
21/1/2010 517417 Patels Airtmp HITESH SHASHIKANT JHAVERI B 70106 129.15
21/1/2010 517417 Patels Airtmp NARESH CHAND JAIN B 91158 126.48
21/1/2010 517417 Patels Airtmp JATIN H SHAH B 38000 128.76
21/1/2010 517417 Patels Airtmp HEMANT NANALAL DOSHI B 45001 128.94
21/1/2010 517417 Patels Airtmp J V STOCK BROKING PRIVATE LIMITED S 39368 126.00
21/1/2010 517417 Patels Airtmp GAURAV DOSHI S 30044 128.66
21/1/2010 517417 Patels Airtmp HITESH SHASHIKANT JHAVERI S 70106 129.15
21/1/2010 517417 Patels Airtmp NARESH CHAND JAIN S 92158 126.37
21/1/2010 517417 Patels Airtmp HEMANT NANALAL DOSHI S 45001 128.90
21/1/2010 531855 Prabhav Inds KAVIT INVESTMENT PVT LTD S 312000 45.82
21/1/2010 531273 Radhe Dev ASHISHBHAI PRAFULBHAI PATEL S 2481011 4.94
21/1/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 106089 33.35
21/1/2010 502587 Rama Pulp PARESH AMRUTLAL KOTAK S 46000 31.52
21/1/2010 590077 Ranklin Sol VENKATA DURGA PRASAD TADEPALLI S 38553 61.19
21/1/2010 511712 Relic Tech REKHABEN KIRANKUMAR MEHTA S 30698 11.85
21/1/2010 511712 Relic Tech ANITA RAKESHKUMAR RANKA S 32203 12.21
21/1/2010 533083 RISHABHDEV UMESH DHAN SINGH B 157419 15.81
21/1/2010 533083 RISHABHDEV FORT SHARE BROKING PVT LTD. B 500000 15.25
21/1/2010 533083 RISHABHDEV MOHAN LAL AGARWAL B 154005 15.24
21/1/2010 533083 RISHABHDEV MAYADEVI AGARWAL B 150000 15.25
21/1/2010 533083 RISHABHDEV PALENIVEL MUDALIAR B 142433 15.12
21/1/2010 533083 RISHABHDEV SHYAM MANOHAR MEETAL B 125000 15.25
21/1/2010 533083 RISHABHDEV BHAVISH DHIRAJLAL KHAKHKHAR B 309359 15.64
21/1/2010 533083 RISHABHDEV ADARSH PATWARI B 200000 15.25
21/1/2010 533083 RISHABHDEV SARSWATI VINCOM LTD B 258000 15.23
21/1/2010 533083 RISHABHDEV UMESH DHAN SINGH S 157419 15.28
21/1/2010 533083 RISHABHDEV MOHAN LAL AGARWAL S 124262 14.70
21/1/2010 533083 RISHABHDEV MAYADEVI AGARWAL S 150000 14.75
21/1/2010 533083 RISHABHDEV PALENIVEL MUDALIAR S 142433 14.81
21/1/2010 533083 RISHABHDEV SHYAM MANOHAR MEETAL S 125000 15.00
21/1/2010 533083 RISHABHDEV BHAVISH DHIRAJLAL KHAKHKHAR S 309359 15.35
21/1/2010 533083 RISHABHDEV EMERGING INDIA FOCUS FUND GDR S 1850000 15.25
21/1/2010 502445 Rohit Pulp HITESH SHASHIKANT JHAVERI B 20533 38.85
21/1/2010 502445 Rohit Pulp GANDHI SECURITIES & INVESTMENT PVT LTD B 50000 38.85
21/1/2010 502445 Rohit Pulp HITESH SHASHIKANT JHAVERI S 45105 38.85
21/1/2010 502445 Rohit Pulp BP FINTRADE PRIVATE LIMITED S 30013 38.85
21/1/2010 511754 Shalibhadra Fin KALA HOLDINGS PRIVATE LIMITED B 100000 15.50
21/1/2010 511754 Shalibhadra Fin CHOUDHARY GLOBAL LIMITED S 73299 15.50
21/1/2010 521161 Sri Lakshmi Saras VSL SECURITIES PVT LTD B 17906 17.40
21/1/2010 530611 Sturdy Inds ASHOK KUMAR LODHA B 200000 5.42
21/1/2010 533121 THINKSOFT A K G STOCK BROKERS PRIVATE LIMITED B 132776 464.86
21/1/2010 533121 THINKSOFT A K G STOCK BROKERS PRIVATE LIMITED S 132776 466.09
21/1/2010 509243 TVS Srichakra NANDKISHORE & CO S 110000 205.50
21/1/2010 531831 Unisys Soft JOHARPAL SINGH S 425000 26.15
21/1/2010 531831 Unisys Soft SAROJ KOTHARI S 150067 26.14
21/1/2010 530961 Vikas Globalone EUROGOLD JAWELLERY LTD. B 347000 27.25
21/1/2010 530961 Vikas Globalone MANISH SINGHLA S 175000 27.30
21/1/2010 530961 Vikas Globalone KHUSHBOO SINGHLA S 175000 27.20
21/1/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR B 39988 411.79
21/1/2010 531249 Well Pack Papers PANDYA YAMINIBEN M B 39759 411.36
21/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR B 36137 411.19
21/1/2010 531249 Well Pack Papers SHREEDHAR YELLAIAH KODAM B 28000 410.62
21/1/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR S 51763 411.59
21/1/2010 531249 Well Pack Papers PANDYA YAMINIBEN M S 43245 411.49
21/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR S 38125 410.76
21/1/2010 531249 Well Pack Papers NAVNATH SAKHARAM GHONE S 24000 410.82
21/1/2010 522108 Yuken India ALPHASHAH SHAH S 22825 133.64
* B - Buy, S - Sell
NSE Bulk Deals to Watch - Jan 21 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
21-JAN-2010,BILPOWER,Bilpower Limited,NIKUNJ ALLOYS & STEEL PRIVATE LIMITED,BUY,31500,203.64,-
21-JAN-2010,EVERONN,Everonn Education Limited,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD.,BUY,121606,454.24,-
21-JAN-2010,FAME,Fame India Limited,FIDUCIARY SHARES & STOCKS PRIVATE LIMITED,BUY,400000,42.22,-
21-JAN-2010,ITI,ITI Ltd.,MINT TRADING & INVESTMENT,BUY,102174,59.36,-
21-JAN-2010,ITI,ITI Ltd.,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,201637,59.04,-
21-JAN-2010,ITI,ITI Ltd.,OM INVESTMENTS,BUY,140014,58.92,-
21-JAN-2010,ITI,ITI Ltd.,TRANSGLOBAL SECURITIES LTD.,BUY,121694,58.99,-
21-JAN-2010,KTKBANK,Karnataka Bank Limited,WELLINGTON MANAGEMENT COMPANY LLP-BAY POND MB,BUY,1821031,137.98,-
21-JAN-2010,MBLINFRA,MBL Infrastructures Ltd,MANSUKH SECURITIES & FINANCE LIMITED,BUY,117235,229.81,-
21-JAN-2010,MBLINFRA,MBL Infrastructures Ltd,MBL & COMPANY LTD.,BUY,93371,224.56,-
21-JAN-2010,MURLIIND,Murli Industries Limited,MANOJ MITTAL,BUY,54090,332.27,-
21-JAN-2010,OCTAV,Octav Investments Limited,AJIT VAKIL,BUY,35700,22.91,-
21-JAN-2010,OMNITECH,Omnitech Infosolutions Li,PRIMORE SOLUTIONS PVT.LTD,BUY,48979,191.26,-
21-JAN-2010,SELMCL,SEL Manufacturing Company,NIKON FINLEASE PVT. LTD,BUY,87063,99.88,-
21-JAN-2010,SURYALAXMI,Suryalakshmi Cotton Mills,PRAJIN BARTER PRIVATE LIMITED,BUY,101000,50.55,-
21-JAN-2010,SURYALAXMI,Suryalakshmi Cotton Mills,SWADESHI TUBES LTD,BUY,400000,50.00,-
21-JAN-2010,SURYALAXMI,Suryalakshmi Cotton Mills,TERRANOVA TECHNOLOGIES LIMITED,BUY,100000,50.00,-
21-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,158487,465.41,-
21-JAN-2010,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,1565039,20.18,-
21-JAN-2010,BILPOWER,Bilpower Limited,NIKUNJ ALLOYS & STEEL PRIVATE LIMITED,SELL,83370,203.10,-
21-JAN-2010,EVERONN,Everonn Education Limited,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD.,SELL,121606,455.84,-
21-JAN-2010,ITI,ITI Ltd.,MINT TRADING & INVESTMENT,SELL,102174,59.52,-
21-JAN-2010,ITI,ITI Ltd.,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,208145,59.09,-
21-JAN-2010,ITI,ITI Ltd.,OM INVESTMENTS,SELL,140014,58.97,-
21-JAN-2010,ITI,ITI Ltd.,TRANSGLOBAL SECURITIES LTD.,SELL,121694,58.93,-
21-JAN-2010,KTKBANK,Karnataka Bank Limited,REL MF - LONG TERM EQUITY FUND,SELL,3200000,138.00,-
21-JAN-2010,MBLINFRA,MBL Infrastructures Ltd,MANSUKH SECURITIES & FINANCE LIMITED,SELL,117235,229.82,-
21-JAN-2010,MBLINFRA,MBL Infrastructures Ltd,MBL & COMPANY LTD.,SELL,93371,224.40,-
21-JAN-2010,OCTAV,Octav Investments Limited,INDU SETH,SELL,17898,20.60,-
21-JAN-2010,OMNITECH,Omnitech Infosolutions Li,PRIMORE SOLUTIONS PVT.LTD,SELL,85983,193.75,-
21-JAN-2010,SELMCL,SEL Manufacturing Company,NIKON FINLEASE PVT. LTD,SELL,87063,99.75,-
21-JAN-2010,SURYALAXMI,Suryalakshmi Cotton Mills,PRAJIN BARTER PRIVATE LIMITED,SELL,1000,53.10,-
21-JAN-2010,SURYALAXMI,Suryalakshmi Cotton Mills,SURYAKANT LAXMAN UJAL-WRONG CLIENT CODE,SELL,700000,50.16,-
21-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,158487,464.75,-
21-JAN-2010,TODAYS,Todays Writing Products L,CANARA BANK,SELL,300000,27.85,-
21-JAN-2010,VISESHINFO,Visesh Infotecnics Limite,JAYESH ANANT SHETH HUF,SELL,215000,7.98,-
21-JAN-2010,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,1560820,20.16,-
Nifty January 2010 futures at discount
Nifty January 2010 futures at discount
Nifty January 2010 futures were at 5085, at a discount of 9.15 points as compared to the spot closing of 5094.15. Turnover in NSE's futures & options (F&O) segment soared to Rs 1,11,117.17 crore from Rs 65,565.5 crore on Wednesday, 20 January 2010.
Tata Steel January 2010 futures were at discount at 644.10 compared to the spot closing of 649.
ICICI Bank January 2010 futures were near spot price at 850 compared to the spot closing of 850.80.
Larsen & Toubro January 2010 futures were at discount at 1527 compared to the spot closing of 1530.
In the cash market, the S&P CNX Nifty tumbled 127.55 points or 2.44% at 5094.15.
Asian markets close mixed
Sensex, Sydney, Hang Seng finish lower while Shanghai, Seoul, Nikkei edge higher
Stock markets in Asian region finished mixed on Thursday, 21 January 2010, as some of the regional markets recouped their early losses while some posted their lowest closing in the year 2010, thanks to China’s strong fourth quarter growth which reinforcing fears that Beijing would take more measures to keep the economy from overheating. China's economy expanded by 10.7% between October and December, compared with a year earlier, meeting market expectations, but up sharply from 9.1% in the third quarter.
On Wall Street, stocks finished sharply lower Wednesday as mixed bank earnings and political uncertainty weighed on the indices. The Dow Jones Industrial Average shed 122 points, or 1.1%, at 10,603. The S&P 500 lost 12 points, or 1.1%, to 1138 and the Nasdaq declined by 29 points, or 1.3%, to 2291.
In the commodity market, crude oil rose from a four-week low after China’s economy expanded at the fastest pace since 2007, bolstering expectations demand in the world’s second-biggest energy user will increase.
Crude oil for March delivery rose as much as 46 cents, or 0.6 percent, to $78.20 a barrel in electronic trading on the New York Mercantile Exchange. It was at $77.91 at 4:23 p.m. in Singapore. Yesterday, the contract declined $1.58, or 2 percent, to end the session at $77.74. The February contract, which expired yesterday, fell $1.40, or 1.8 percent, to $77.62.
Brent crude oil for March settlement rose as much as 35 cents, or 0.5 percent, to $76.67 a barrel on the London-based ICE Futures Europe exchange. It was at $76.36 a barrel at 4:24 p.m. Singapore time. It declined $1.31, or 1.7 percent, to end the session at $76.32 a barrel yesterday.
Gold rallied, pacing gains in precious metals including platinum, after its biggest drop in a month lured buyers and the US dollar’s rally paused. Gold for immediate delivery increased 0.5% to $1,116.88 an ounce at 2:44 p.m. in Singapore after gaining as much as 0.6% to $1,117.49 an ounce. February-delivery bullion in New York was little changed at $1,116.80 an ounce.
In the currency market, Japanese yen is a touch softer in Asian session today after China released solid growth data. However, the reaction is so far mild as investors are still concerned that surging inflation and risk of asset bubbles would trigger more tightening measures from the Chinese government. Japan’s currency was quoted at 91.74 per US dollar on Thursday.
The Hong Kong dollar was trading at HK$ 7.7694 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 trades, the Australian dollar was lower at noon amid concerns tighter lending rules in China could subdue a recovery in the global economy. The Australian dollar was recently trading at $US0.9125, down 0.4 per cent from Wednesday’s close of $US0.9163.
In Wellington trades, the NZ dollar got a lift from strong retail sales data today but it did not last for long as the US dollar surged to a four-month high after China reported strong fourth quarter growth. The NZ dollar rose about 30 points from US71.90c to US72.30c after Statistics New Zealand said both total sales, and core retail sales which exclude vehicle-related industries, rose a seasonally adjusted 0.8 percent in November. The NZ dollar retreated and was US72.09c at 5pm from US71.93c at 8am and US72.95c at 5pm yesterday.
The South Korean won closed at 1137.10 won to the greenback, up from Wednesday 1138.20 won.
The Taiwan dollar strengthened against the greenback. The Taiwan dollar was trading higher against the US dollar at NT$ 31.9150, 0.0850 up from Wednesday's close of NT$31.9900.
In equities, Asian markets ended mixed, with Japanese stocks finishing higher as the yen's weakness spurred exporters such as Sony Corporation, while Hong Kong shares declined as strong Chinese economic data added to fears of further policy tightening.
In Japan, the stock market in Japan snapped 3-day losing streak and ended in positive territory on Thursday, lifted by high tech stocks on increasing optimism about growth and better quarterly results. Bargain hunting at lower levels, interest in Japanese stocks from foreign buyers and weaker local currency overshadowed the weak closing on Wall Street in the previous session as well as concerns about China's measures to tightening policy measures.
The benchmark Nikkei 225 Index climbed 130.89 points, or 1.22%, to 10,868, while the broader Topix index of all First Section issues gained 11.31 points, or 1.20%, to 956.
On the economic front, a final report published by the Cabinet Office in Japan revealed that the country's leading index for November was revised downwards to 90.7 from 91.2 reported earlier in the preliminary report. The report further noted that despite the marginal downward revision, leading index has improved for the ninth consecutive month in November.
Separately, results of a quarterly survey released by the Bank of Japan revealed that corporate demand for bank loans in the country declined to a five-year low during the last quarter of 2009. According to the results, the index measuring firms' demand for loans declined to -17 for the period October to December from -14 recorded for the previous three-month period of July to September.
In Mainland China, stocks flipped back the direction in the closing hours and ended slightly up today with the bullish GDP data summing up the day in favor of bulls. Stocks edged up despite an early setback due to weak overnight cues from the US markets and a rapid bout of appreciation in the US dollar eroding the risky assets. Gross domestic product in the world's third-largest economy returned to double-digit growth in the fourth quarter of 2009 at 10.7%, and over the full year GDP surpassed the Government's target of eight per cent. The 10.7% growth in the final quarter of 2009 was the best result since the second quarter of 2008.
Inflation also surged towards the end of the year, according to government data that laid bare the risks of overheating. The nation's consumer price index, the main gauge of inflation, rose 1.9% year-on-year in December. China's authorities are already clamping down on bank lending and hiking borrowing costs to keep a lid on price pressures.
At the end of trade, the Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, inched up 7.01 points, or 0.22%, to 3,158.86, while the Shenzhen Component Index on the smaller Shenzhen Stock Exchange has added 1 points, or 0.01%, to 12,917.15. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, gained 0.42%, to 3,402.57
In Hong Kong, stock markets tumbled to their lowest level in more than three months, as investors exited Chinese banks and property stocks after strong economic data from China reignited fears of further tightening measures.
At the closing bell, the Hang Seng Index stumbled 423.50 points, or 2%, to 20862.67 – the lowest closing since 6 October 2009. Meanwhile the Hang Seng China Enterprise, which tracks the overall performance of 43 mainland Chinese state-owned enterprises on the Hong Kong Stock Exchange, shrank 324.26 points, or 2.64%, to 11957.83.
In Australia, stock markets in Australia tumbled on Thursday as investors took their lead from the biggest slide on Wall Street since mid-December and 2% falls on European markets, sparked by fears that China’s decision to limit bank lending could endanger the global economic recovery. These fears were reinforced after China posted strong fourth-quarter growth figures this afternoon. The benchmark S&P/ASX200 index was 41 points lower, or 0.84%, at 4827.20. The broader All Ordinaries fell 45.50 points, or 0.9%, to 4849.60.
In New Zealand, equities continued to portray a lackluster performance, inching down by a little more than 4 points after witnessing a drop of around 8 points yesterday. At the closing today, the NZX 50 edged down 0.06% or 1.96 points to 3225.29. Meanwhile, the NZX 15 lost 0.08% or 4.81 points to close at 5815.66, losing for the ninth day in a row.
In South Korea, stocks closed higher as investors digested fears over China's most recent tightening measures. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 7.63 points to 1,722.01.
In Taiwan, stock markets fell for fourth session finishing at three weeks intraday low on Thursday, led by technology firms, after China ordered some big banks to curb lending to avoid its economy from overheating. China’s economy grew by 10.7% in the fourth-quarter compared to a year earlier, taking full-year growth to 8.7%, easily surpassing Beijing's 8% target. But its rapid growth has been accompanied by acceleration in inflation, which has reinforced worries over economic overheating.
The benchmark Taiex share index extended loses to fourth session, as the index finished day lower by 93.06 points or 1.13% at 8127.87, the lowest closing since 30 December 2009 when market finished at 8112.28.
In Philippines, the stock market closed flat largely due to the absence of fresh local leads. Its moderate upside, however, was due to investors’ aggressive buying of some index related stocks, especially Integrated Micro-Electronics. At the final bell, the benchmark index PSEi mounted 0.05% or 1.72 points to 3,085.58, while the All Shares index went up 0.04% or 0.83 points to 1,931.45.
In India, disappointing Q3 results from frontline companies sparked a sell-off on the bourses. The market extended losses for the third straight day. Shares from sectors related to infrastructure were the worst hit. The BSE 30-share Sensex was down 423.35 points or 2.42% to 17,051.14. The S&P CNX Nifty was down 127.55 points or 2.44% to 5094.15.
On the economic front, the food price index rose 16.81% in the 12 months to 9 January 2010, while the fuel index was up 6.34%, the government said on Thursday. The rise in food price index was lower than an annual rise of 17.28% in the previous week. The annual wholesale inflation rose to 7.31% in December 2009, compared with 4.78% in November and 6.15% a year ago. Finance minister Pranab Mukherjee said on Wednesday the government was taking steps to contain inflation. The situation is constantly under review, he said. He also promised more measures to check the rise in the prices of essential commodities.
Elsewhere, Malaysia’s Kula Lumpur Composite index finished slightly higher at 1308.36 while stock markets in Indonesia’s Jakarta Composite index inched down by 28.88 points ending the day higher at 2638.38.
In other markets, European shares pulled back from early gains on Thursday as miners reversed course, offsetting gains from drug makers and food producers. The major regional indexes fared better. The U.K. FTSE 100 index fell 0.21% or 11.34 points to 5,409, the German DAX index was trading at par at 5,852 and the French CAC-40 index rose 0.2% or 5.99 points to 3,955.
On the economic front, private-sector output growth in the 16-nation euro zone slowed in January. The closely-watched Markit preliminary composite purchasing manager’s index slipped to 53.6 in January from a reading of 54.2 in December. A reading of more than 50 means a majority of managers saw a rise in activity, while a figure of less than 50 signals a contraction.
Capital goods, power shares lead 2.4% Sensex slide
Key benchmark indices extended losses for the third straight day on disappointing Q3 results from frontline companies. Markets across the globe were gripped with volatility as bullish economic data from China raised concerns Beijing may tighten policy. European markets were trading mixed after a firm start. Asian markets turned mixed after a weak start. The BSE 30-share Sensex declined 423.35 points or 2.42%.
The market breadth was extremely weak as small and mid-cap stocks underwent correction after a recent solid surge. Today's sell-off was wide-based with all the sectoral indices on BSE ending with losses. Shares from sectors related to infrastructure were the worst hit. L&T led decline in capital goods stocks after the engineering & construction major reported fall in third quarter sales revenue. Power equipment major Bharat Heavy Electricals also declined sharply as its third quarter revenue growth fell short of market expectations. ICICI Bank, too, was under selling pressure as third quarter net profit declined.
Power generation stocks dropped as investors shuffled their portfolios ahead of the upcoming mega follow-on-public (FPO) offer of NPTC. Banking shares were reeling under selling pressure ahead of the Reserve Bank of India's monetary policy review meet on 29 January 2010. Shares from metal, realty sectors and PSU stocks were not spared either.
The IPO of Jubilant Foodworks ended on Wednesday, 20 January 2010, with an oversubscription of 31.11 times. Foreign institutional investors (FIIs) made a beeline for the IPO. FIIs put in bids for 25.56 crore shares as compared to 71.41 lakh shares reserved for the qualified institutional investors segment as a whole. The strong response from FIIs indicates that global liquidity remains ample.
The food price index rose 16.81% in the 12 months to 9 January 2010, while the fuel index was up 6.34%, the government said on Thursday. The rise in food price index was lower than an annual rise of 17.28% in the previous week.
The annual wholesale inflation rose to 7.31% in December 2009, compared with 4.78% in November and 6.15% a year ago. Finance minister Pranab Mukherjee said on Wednesday the government was taking steps to contain inflation. The situation is constantly under review, he said. He also promised more measures to check the rise in the prices of essential commodities.
Food prices will cool off in 1-2 months and inflation will turn around, finance ministry's chief economic advisor Kaushik Basu said in a newspaper interview published on Wednesday. The Reserve Bank of India will hold its quarterly monetary policy review on 29 January 2010 and is widely expected to increase the cash reserve ratio (CRR) requirements for banks, but economists are divided on when it will raise interest rates. CRR is the level of cash that banks must keep in deposit with the central bank. Food prices rose near 20% in December from a year earlier, their highest in 11 years.
India's October-December 2009 quarter economic growth is expected to be lower than the previous quarter, chief statistician Pronab Sen said on Thursday, due to a contraction in farm output. Indian economy, which grew at 7.9% in the September quarter, is expected to grow 6-6.5% in the December quarter, Sen said.
He expects the Indian economy to grow at 6.5-7.5% for the fiscal year ending in March 2010. The annual farm output in the December 2009 quarter is expected to contract by 6-7%, he added. Monthly inflation may touch double digits by March 2010, Sen had said earlier this week
Union food and agriculture minister Sharad Pawar on Wednesday suggested that the prices of milk and related products were set to rise because of the demand-supply mismatch.
Aggregate results of 346 companies showed 58.20% advance in net profit on 9.5% rise in sales in quarter ended December 2009 over the quarter ended December 2008.
Excise, customs and service tax collections are continuing to show a negative growth. Excise duty collections between April to December 2009 are down by 13% at close to Rs 70,000 crore. Revenues by way of customs duty are also down by a whopping 28% at around Rs 59,000 crore while service tax collection is also down over 6% with the government collecting slightly over Rs 36,000 crore.
This takes the total collection of indirect taxes in the first nine months to about Rs 1,66,000 crore, down by 18% as compared to last fiscal. The government has set itself a target to collect around Rs 2,70,000 crore by the end of fiscal year ending March 2010.
Meanwhile, the government reportedly proposes to ease the norms for foreign direct investment (FDI) approval. Presently projects worth more than Rs 600 crore require the final approval of the Cabinet Committee on Economic Affairs (CCEA). The department of industrial policy and promotion (DIPP) has proposed that this ceiling be raised to anywhere between Rs 1,000 crore and Rs 1,500 crore. The new norms are likely to be notified after the introduction of a consolidated FDI policy framework on 1 April 2010.
FDI inflows increased to $27 billion in 2008-09 from $3.2 billion in 2004-05. During the period April-September 2009-10, FDI inflows reached $15 billion. The government has set a target of achieving $50 billion annual FDI by 2012 and $100 billion by 2017.
Economic growth will accelerate this year, Commerce and Industry Minister Anand Sharma said on Tuesday as he demanded better access to China's markets to help exports. Sharma's call for greater access for goods comes amid a widening trade gap between the two countries. Trade between the two grew rapidly to $50 billion in 2008, making China India's second-largest trading partner, but fell back to $43 billion in 2009 as global trade declined. Sharma called for more Chinese direct investment in India, especially in infrastructure, while noting that Indian firms are already present in China.
European shares were trading mixed on Thursday, continuing a choppy week for trading, with miners recouping some sharp losses made in the previous session. Key benchmark indices in Germany and France were up 0.06% and 0.32%. However, UK's FTSE 100 index fell 0.21%
Asian markets ended mixed. Key benchmark indices in Hong Kong, Singapore and Taiwan were down by between 1.13% and 1.99%. Japan's Nikkei 225 index rose 1.22% led by technology shares. South Korea's Seoul Composite index was up 0.45%. China's Shanghai Composite index added 0.22%.
Chinese data released Thursday were largely in line with expectations, showing economic growth powered higher in the fourth quarter, putting the full-year figure above forecasts. But inflation surprised to the upside, suggesting fiscal and monetary policy tightening could be ahead.
China's gross domestic product expanded at a rapid rate of 10.7% in the fourth-quarter of 2009 from the year-earlier period, pushing the full-year economic growth rate to a better-than-expected 8.7%, according to official data released Thursday.
Developing Asian economies face the risk of asset bubbles or overheating as the region's growth outpaces the rest of the world this year, the World Bank said in a report today. In South Asia, policy makers will be particularly responsive to signs of building inflationary pressures because of a strong aversion to food-price increases, the World Bank said.
US markets ended sharply lower on Wednesday, 20 January 2010, as earnings and the dollar's gains clipped the market's momentum. In earnings, Bank of America disappointed investors with a loss of $5.2 billion, which was worse than expected. Among others, Morgan Stanley's earnings fell short of analysts' expectations, but Wells Fargo posted an unexpected profit.
The Dow Jones industrial average lost 122.28 points, or 1.1%, to 10,603.15. The S&P 500 index fell 12.19 points, or 1.1%, to 1,138.04, and the Nasdaq Composite Index fell 29.15 points, or 1.3%, to 2,291.25.
Trading in US index futures indicated the Dow could fall 28 points at the opening bell on Thursday, 21 January 2010, reversing earlier gains. US stocks futures were firm earlier in the global day.
The World Bank raised its forecast for global growth in 2010 but warned that the recovery may lose momentum in the second half of the year as government stimulus programs wind down and unemployment persists. The world economy will expand 2.7% this year after the worst recession since the end of World War II, compared with an estimate in June of a 2% expansion, the Washington- based poverty-reduction agency said today in an annual report. Growth may reach 3.2% in 2011, the bank said.
The World Bank report also includes figures on last year's downturn, with an estimate that the global economy declined 2.2%, compared with the 2.9% decrease projected in June. Growth in emerging nations is expected to reach 5.2% this year, compared with a June estimate of 4.4%, the bank said. China will expand 9% this year and India 7.5%, it said.
The World Bank also raised its forecast for US growth in 2010 to 2.5% growth, after predicting 1.8% in June. Japan's gross domestic product will expand 1.3% this year, more than the 1% predicted in June. The euro area's economy is forecasted to grow 1%, compared with the earlier estimate of 0.5% expansion.
Speaking to a news agency on the anniversary of his first year in office US President Barack Obama urged lawmakers on Wednesday to agree quickly on core elements of healthcare reform, signaling he might support a scaled-back overhaul after his Democrats lost a key Senate seat.
Obama acknowledged that voter anger helped carry Republican Scott Brown to a stunning victory in Tuesday's Massachusetts election which has imperiled the president's healthcare effort and the rest of his legislative agenda.
The White House said it may retool its strategy for selling Obama's agenda while pressing ahead with his priorities of job creation, climate change and financial regulatory reform as well as healthcare.
Meanwhile British Prime Minister Gordon Brown in an article published in Asian Lite magazine marking the 60th anniversary of India becoming a republic said India is a 'modern global success story' that is marching toward prosperity.
Brown further said the relationship of one of the world's oldest democracies with one of the largest owes its foundations to our proud historic ties.
The BSE 30-share Sensex lost 423.35 points or 2.42% to 17,051.14. The Sensex opened unchanged from its previous close at 17,474.49, which was the day's high. Sensex fell 449.23 points at the day's low of 17,025.26 in late trade
The S&P CNX Nifty was down 127.55 points or 2.44% to 5094.15. Nifty January 2010 futures were at 5085, at a discount of 9.15 points as compared to the spot closing. Turnover in NSE's futures & options (F&O) segment soared to Rs 1,11,117.17 crore from Rs 65,565.5 crore on Wednesday, 20 January 2010.
The market breadth, indicating the overall health of the market was extremely weak. On BSE, 2369 shares declined as compared with 579 that rose. A total of 51 shares remained unchanged.
The total turnover on BSE amounted to Rs 6185.96 crore as compared with Rs 6327 crore on Wednesday, 20 January 2010.
The BSE Mid-Cap index fell 2.39% to 6,858.73, outperforming the Sensex. The BSE Small-Cap index declined 2.47% to 8,760.99, underperforming the Sensex
BSE Auto index (down 1.42%), BSE IT index (down 1.42%) and BSE FMCG index (down 1.43%), outperformed the Sensex.
BSE Power index (down 3.47%), BSE Capital Goods index (down 5.15%), and BSE PSU index (down 2.98%), underperformed the Sensex
Bharti Airtel (down 2.93%), Tata Motors (down 2.84%), and HDFC (down 2.94%), edged lower from the Sensex pack.
Mahindra & Mahindra was the lone gainer from the 30-member Sensex pack. India's top tractor maker by sales gained 0.34% to Rs 1149.75. The stock staged a pullback from day's low of 1136.50. After market hours today, the company scheduled a board meet on 25 January 2010, to a stock-split proposal apart from considering its Q3 December 2009 results.
India's largest car maker by sales Maruti Suzuki India fell 1.25% on profit booking. The company announces its Q3 December 2009 results on 23 January 2010.
High beta infrastructure shares were the worst hit in today's sell-off. India's largest engineering & construction firm by sales Larsen & Toubro (L&T) slumped 6.63% to Rs 1527.95 and was the top loser from the Sensex pack. L&T said profit after tax from ordinary activities rose 15% to Rs 696 crore in Q3 December 2009 over Q3 December 2008. Gross sales revenue declined 6% to Rs 8139 crore. The result was announced during trading hours today, 21 January 2010.
India's largest power equipment maker by sales Bharat Heavy Electricals (Bhel) fell 4.26%. The company's the net profit rose 35.67% to Rs 1072.59 crore on a 17.28% rise in total income to Rs 7422.51 crore in Q3 December 2009 over Q3 December 2008. The result was announced during trading hours today, 21 January 2010.
Power generation stocks declined as investors shuffled their portfolios ahead of the upcoming mega follow-on-public (FPO) offer of NPTC.
Tata Power Company (down 4.69%), Reliance Infrastructure (down 2.66%), CESC (down 2.01%), Torrent Power (down 2.77%), Reliance Power (down 2.36%), and NHPC (down 2.30%), declined.
India's largest power generation firm by total capacity NTPC was down 1.55%. The company FPO remains open between 3 and 5 February 2010. The pricing has not yet been announced by the company.
Japirakash Associates (down 2.48%), Lanco Infratech (down 5.52%), GMR Infrastructure (down 1.84%), Punj Lloyd (down 4.91%), and GVK Power Infrastructure (down 2.29%), declined.
Realty shares were not spared either. DLF (down 2.69%), Unitech (down 2.29%), HDIL (down 3.98%), Indiabulls Real Estate (down 3.90%), and Omaxe (down 3.84%), declined.
India's largest private sector bank by net profit ICICI Bank lost 3.32%. The bank's net profit declined 13.44% to Rs 1101.06 crore on a 25% fall in total income to Rs 7762.71 crore in Q3 December 2009 over Q3 December 2008. The result was announced during trading hours today, 21 January 2010.
India's largest bank by net profit and branch network State Bank of India lost 1.76%.
India's second largest private sector bank by net profit HDFC Bank slipped 2.26% after its American depository receipt shed 1.56% on Wednesday.
Metal stocks declined after LMEX, a gauge of six metals traded on the London Metal Exchange, fell 2.12% on Wednesday, 20 January 2010. Hindalco Industries (down 1.06%), Tata Steel (down 0.70%), Hindustan Zinc (down 3.09%), Sesa Goa (down 3.96%), and National Aluminum Company (down 4.42%), edged lower.
India's largest non-ferrous metal producer by sales Sterlite Industries India lost 3.70% after its American depository receipt or ADR dropped 5.23% to $18.11 on the New York Stock Exchange on Wednesday, 20 January 2010.
Index heavyweight Reliance Industries (RIL) shed 1.97% to Rs 1056.25. Reports indicated that RIL is unlikely to raise its offer price to take a controlling stake in LyondellBasell Industries. Lyondell's current restructuring plan values it as high as $15.5 billion. Recently, RIL had reportedly sweetened its initial $12.0 billion offer to about $13.5 billion for acquiring LyondellBasell. RIL will announce its Q3 result on Friday, 22 January 2010.
India's largest oil exploration firm by sales Oil & Natural Gas Corporation was down 1.98% to Rs 1140, off day's high of Rs 1180. The company posted a 23% rise to Rs 3054 crore on 24% rise in net sales to Rs 15373 crore in Q3 December 2009 over Q3 December 2008. The results were announced after market hours today, 21 January 2010.
Cairn India fell 3.37% on reports the Comptroller and Auditor General of India, the country's statutory auditor, has sought government intervention to access financial records of the company's Rajasthan oil fields.
India's second largest mobile services provider by sales Reliance Communications (RCom) fell 0.99%. As per reports, the company has written to the Department of Telecom (DoT) asking it to reject the report submitted by the Government-appointed auditors. In a 28-page letter to the DoT, the company said that the report was based on uncorroborated facts and contrary to the all norms of audit and professional conduct.
Earlier the independent auditor - Parakh & Co - appointed by the DoT to examine the accounts of RCom had concluded that the company has under-reported revenues of Rs 2,799 crore to the Government, resulting in under-payment of Rs 315 crore as license fee and spectrum charges during 2006-08.
IT stocks succumbed to selling pressure in late trade after a firm start. The rupee fell to two-week lows against the dollar today, 21 January 2010.
India's largest IT exporter by sales Tata Consultancy Services fell 0.85% to Rs 772, off day's high of Rs 790.90. The third quarter earnings unveiled by the company after trading hours on 15 January 2010 surpassed market estimates as demand for outsourcing surged and prices stabilised, fuelling hopes of recovery in the showpiece sector.
India's second largest IT exporter by sales Infosys fell 1.39% to Rs 2616, after hitting a day's high of Rs 2663. On 12 January 2010 Infosys raised its full-year revenue and profit outlook after strong Q3 results and on improving trend for outsourcing orders.
India's third largest software services exporter Wipro lost 2.21% to Rs 709.40, easing from day's high of Rs 739. The company's consolidated net profit rose 21.26% to Rs 1217.40 crore on 4.17% rise in total income to Rs 7055.80 crore in Q3 December 2009 over Q3 December 2008. The company announced the results before trading hours on 20 January 2010.
Chief Financial Officer Suresh Senapaty said in a statement that the key financial services sector had bounced back on the back of strong outsourcing demand.
Financial Technologies (India) rose 0.76%. The company will declare Q3 December 2009 results on 29 January 2010.
The partially convertible rupee was at 46.01/02 after falling to 46.06 in early deals, which was its lowest since 6 January 2010. It had ended at 45.93/94 per dollar on Wednesday, 20 January 2010.
A weak rupee boosts operating profit margin of IT firms as the sector derives a lion's share of revenue from exports.
Larsen & Toubro was the top traded counter on BSE with turnover of Rs 243.07 crore followed by Jai Corp (Rs 182.84 crore), Tata Steel (Rs 160.12 crore), Rashtriya Chemicals & Fertilisers (Rs 150.88 crore) and Bombay Dyeing & Manufacturing Company (Rs 103.32 crore).
Rashtriya Chemicals & Fertilisers reported a highest volume of 1.43 crore shares on the BSE. Unitech (73.77 lakh shares), Suzlon Energy (69.01 lakh shares), Lanco Infratech (67.25 lakh shares), and Ispat Industries (63.30 lakh shares), were the other volume toppers on the BSE.
Dr.Reddy's Laboratories slumped 6.55% after the company's American depository receipt, ADR tumbled 6.46% to $24.48 on the New York Stock Exchange on Wednesday, 20 January 2010 following poor Q3 December 2009 results announced during market hours on Wednesday, 20 January 2010.
Jindal Poly Films jumped 2.96% after the company's board approved buyback of up to 22 lakh equity shares at a ceiling price of Rs 450 per share. The announcement was made after market hours on Wednesday, 20 January 2010.
Raymond spurted 9.20% after the company reported a net profit of Rs 42.57 crore in Q3 December 2009 compared with a net loss of Rs 15.20 crore in Q3 December 2008. Net sales rose 5% to Rs 372.33 crore in Q3 December 2009 over Q3 December 2008. The result was announced after trading hours on Wednesday, 20 January 2010.
Private sector air carrier Jet Airways India jumped 3.21%. The company will declare Q3 December 2009 results on 25 January 2010.
Diversified agricultural products maker Jain Irrigation Systems moved up 1.40%. The company will declare Q3 December 2009 results on 28 January 2010.
Fertiliser maker Chambal Fertilisers & Chemicals climbed 2.06%. The company will declare Q3 December 2009 results on 23 January 2010. Fertiliser maker Rashtriya Chemicals and Fertilisers flared up 1.09%. The company will declare Q3 December 2009 results on 29 January 2010.
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US stocks ignore earning reports and end lower
Bank stocks try to support the financial sector
US stocks ended deep drowned in the red on Wednesday, 20 January 2010. This was despite a batch of better than expected earning reports from companies in the financial sector. The economic data also did little to help pull up stocks. The financial and healthcare sectors tried to garner support.
At the end of the day on Wednesday, 20 January, 2010, the Dow Jones Industrial Average ended lower by 122.28 points at 10,603.15. Nasdaq ended lower by 29.15 points at 2291.25. S&P 500 ended lower by 12.19 points at 1138.07. Earlier in the day, Dow was down by 195 points.
All ten economic sectors ended in the red led by energy, materials, and technology sectors. Kraft was a major Dow laggard while Bank of America was a Dow winner.
In the currency market on Wednesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies rose by almost 1.1%. The dollar strengthened on fears that China will curb bank lending. The China Banking Regulatory Commission said it hasn't "specifically" told banks to suspend lending in January, but a report said that it had asked several banks to stop issuing loans.
This week is quite heavy on earning reports. Among earning reports expected for the day, Bank of America and Wells Fargo both reported improved fourth-quarter results. Bank of America came closer to the black and Wells swung to a profit. Both banks join peers that have also posted better results a year after the depths of the financial crisis. Morgan Stanley also posted a fourth-quarter profit of $617 million, though its revenue of $6.85 billion was below expectations. With the help of these bank shares, the financial sector was able to limit its losses.
In the technology sector, IBM topped expectations. But Microsoft, Yahoo, Apple, RIMM, Cisco all weighed on the Nasdaq.
Among economic data expected for the day, The Labor Department in US reported on Wednesday, 20 January 2010 that prices at the wholesale level in US increased a seasonally adjusted 0.2% in December 2009 largely due to a sharp increase in food costs.
Core producer prices, excluding volatile food and energy inputs, were unchanged. Market was expecting a 0.1% decline in overall produce prices and a 0.1% increase in the core rate. A month back in November 2009, higher energy costs sent the U.S. producer-price index surging 1.8%, its biggest one-month gain since last summer. Energy costs retreated in December, however.
Separately, the Commerce Department in US reported on Wednesday, 20 January 2010 that housing starts fell 4% to a seasonally adjusted annual rate of 557,000 in December 2009. Starts are down about 75% from the peak in 2006. The December estimate of 557,000 was however better than the 540,000 unit rate expected.
For all of 2009, an estimated 554,000 homes were started, which is down 39% from 2008's total and the lowest on record. Starts of single-family homes dropped 29% to a record-low 444,000 in 2009. Housing starts of single-family homes, condominiums, and apartments have been essentially flat over the past year. Compared with December 2008, starts are up 0.2%, the first year-over-year gain since early in 2006.
Crude oil prices ended lower once again on Wednesday, 20 January 2010. Prices fell as the dollar headed up strongly. Yesterday, prices had closed higher for the first time in six sessions. On Wednesday, crude-oil futures for light sweet crude for February delivery closed at $77.62/barrel (lower by $1.4 or 1.8%). The February contract ended today. Crude ended last week lower by 5.7%. On a year to date basis till date, crude is lower by 3.9%.
All Indian ADRs ended in the red today. Dr Reddys, MTNL and VSNL were the largest losers shedding 6.5%, 6.3% and 3.9% respectively. HDFC Bank and ICICI Bank shed 1.5% and 1.4% respectively.
Tomorrow, the day will feature economic reports including initial claims and continuing claims. Other than that, earning reports will continue to dominate.
Nifty to open down
Indian equities are likely to open flat with negative bias on Thursday, January 21, 2010. SGX Nifty is trading at 5,196.50 (7.48 am), 18 points lower than Wednesday`s closing of 5,214.5.
In the spot market, the Dollar Index increased 0.011% to 78.37. It touched a high of 78.53 and a low of 78.22 after opening at 78.28. (21:05 ET)
Most Asian stocks was trading mixed on Thursday amid drop in shipping companies, while precision-equipment makers gained.
US stocks slumped on Wednesday amid mixed earnings results from key banks and credit tightening by global economic growth driver China. Among Indian ADRs, Satyam Computer Services (2.11%) were major gainers. MTNL (3.24) On the other hand, ICICI Bank (1.42%), HDFC Bank (1.56%), Wipro (1.77%) were major losers.
European stocks declined for the first time in three days, as mining companies tumbled by the most in almost two months amid speculation China may rein in stimulus measures.
Oil prices tumbled Wednesday, weighed down by a drop on Wall Street, a stronger dollar and signs that China`s energy needs might not be as robust as previously thought.
Market seen extending two-day fall on weak global cues; inflation data eyed
The Market is seen extending its two-day decline following weak global cues. The S&P CNX Nifty futures for January 2010 expiry were trading 33.5 points lower in Singapore. However upgrade of growth forecast in major economies may cushion sharp fall.
The government will today unveil data on some wholesale price indices for the year through 9 January 2009 viz. the food price index, the primary articles index and the fuel price index.
Finance minister Pranab Mukherjee said on Wednesday the government was taking steps to contain inflation. The situation is constantly under review, he said. He also promised more measures to check the rise in the prices of essential commodities.
Food prices will cool off in 1-2 months and inflation will turn around, finance ministry's chief economic advisor Kaushik Basu said in a newspaper interview published on Wednesday. The Reserve Bank of India will hold its quarterly monetary policy review on 29 January 2010 and is widely expected to increase the cash reserve ratio (CRR) requirements for banks, but economists are divided on when it will raise interest rates. CRR is the level of cash that banks must keep in deposit with the central bank. Food prices rose near 20% in December from a year earlier, their highest in 11 years.
Monthly inflation may touch double digits by March 2010, Chief Statistician Pronab Sen told Television media on Tuesday. The wholesale price index rose to 7.31% in December 2009 from a year earlier, driven by higher food prices.
Economic growth will accelerate this year, Commerce and Industry Minister Anand Sharma said on Tuesday as he demanded better access to China's markets to help exports. Sharma's call for greater access for goods comes amid a widening trade gap between the two countries. Trade between the two grew rapidly to $50 billion in 2008, making China India's second-largest trading partner, but fell back to $43 billion in 2009 as global trade declined. Sharma called for more Chinese direct investment in India, especially in infrastructure, while noting that Indian firms are already present in China.
Reliance Industries may see action on reports it is unlikely to raise its offer price to take a controlling stake in LyondellBasell Industries.
Asian markets were trading lower today following a setback in US markets on Wednesday. Key benchmark indices in China, Hong Kong, South Korea, Singapore and Taiwan were down by between 0.11% and 1.27%. However Japan's Nikkei 225 index rose 0.37%.
US markets ended sharply lower on Wednesday, 20 January 2010, as earnings and the dollar's gains clipped the market's momentum. In earnings, Bank of America disappointed investors with a loss of $5.2 billion, which was worse than expected. Among others, Morgan Stanley's earnings fell short of analysts' expectations, but Wells Fargo posted an unexpected profit.
The Dow Jones industrial average lost 122.28 points, or 1.1%, to 10,603.15. The S&P 500 index fell 12.19 points, or 1.1%, to 1,138.04, and the Nasdaq Composite Index fell 29.15 points, or 1.3%, to 2,291.25.
The World Bank raised its forecast for global growth in 2010 and warned that the recovery may lose momentum in the second half of the year as government stimulus programs wind down and unemployment persists.
The world economy will expand 2.7% this year after the worst recession since the end of World War II, compared with an estimate in June of a 2% expansion, the Washington- based poverty-reduction agency said today in an annual report. Growth may reach 3.2% in 2011, the bank said.
The World Bank report also includes figures on last year's downturn, with an estimate that the global economy declined 2.2%, compared with the 2.9% decrease projected in June.
Growth in emerging nations is expected to reach 5.2% this year, compared with a June estimate of 4.4%, the bank said today. China will expand 9% this year and India 7.5%, it said.
The World Bank also raised its forecast for U.S. growth in 2010 to 2.5% growth, after predicting 1.8% in June. Japan's gross domestic product will expand 1.3% this year, more than the 1% predicted in June. The euro area's economy is forecasted to grow 1%, compared with the earlier estimate of 0.5% expansion.
Back home, key benchmark indices ended a choppy trading session marginally lower on Wednesday, extending losses for the second straight day as weak global stocks weighed on investor sentiment. The BSE 30-share Sensex fell 11.57 points or 0.07%. The Sensex had lost 155.02 points or 0.88% to 17,486.06 on Tuesday, 19 January 2010.
As per provisional figures on NSE, the foreign funds sold shares worth Rs 271.33 crore and domestic funds bought shares worth Rs 344.41 crore on Wednesday, 20 January 2010.
Daily News Roundup - Jan 21 2010
ONGC to shell out Rs35bn as fuel subsidy for Q3 FY10. (BL)
OIL India to shell out Rs4.67bn as fuel subsidy for Q3 FY10. (BL)
Lyondell Chemical's creditors' committee failed to end the company's control of its bankruptcy case after a lawyer said a rival bid from Reliance Industries may be more attractive. (FE)
LIC objects L&T’s plans to enter life insurance business. (ET)
Bharti Walmart, JV between Bharti Enterprises and Walmart Stores Inc for wholesale cash and carry and backend supply chain management operations, has opened its first agricultural cooperative centre in Sirhind, Punjab. (FE)
CAG has sought government’s intervention to access financial records of Cairn India operated Rajasthan oil fields. (ET)
RCom has asked communications ministry to reject Parakh audit report and alleged that the report was issued for malafide purpose, based on uncorroborated facts and done without any discussions with the company. (ET)
Credit growth seen at 20% next year, says SBI. (BS)
NTPC to get into LNG chain by leveraging the upcoming Dabhol LNG terminal. (BL)
Reliance ADAG group is all set to fork out US$250-300mn for its Hollywood venture. (BS)
JSW Steel to set-up 1600MW power plant in West Bengal with an investment of Rs96.8bn. (BS)
Ashok Leyland to invest Rs1.2bn to raise its aluminum high-pressure die cast annual capacity to 10,000tons. (BL)
The Supreme Court has sought reply from IOC in a dispute related to a US$29.75mn contract for laying 19.5km long submersible pipeline in the sea off Paradip port. (FE)
Tata Communication to invest Rs5bn in Pune data centre. (ET)
Lupin has received USFDA approval for its plant in Madhya Pradesh. (ET)
HDIL has raised additional debt of Rs4.25bn. (ET)
Alok Industries plans to exit real estate business and offload stakes in international retail subsidiaries. (ET)
Mercator Lines has bagged an order worth Rs10bn for a seven year period for chartering a mobile offshore production unit. (ET)
Mastek has announced the acquisition of Kognitio's data migration offering comprising its data factory tool kit (DFTK) and data migration methodology. (FE)
T Rowe Price has bought a 26% stake in UTI Asset Mangement Company and UTI Trustee Company for Rs6.5bn. (ET)
Bharti Biotech starts phase one trials of H1N1 vaccine. (BL)
Godfrey Philips to launch chewing products with an investment of Rs1.2bn. (BL)
Government has proposed to ease FDI approval norms by raising the ceiling of automatic approval to R10bn from Rs6bn currently. (BS)
India issues demarche to China on trade barriers. (FE)
The government plans to allow major ports to fix tariff on their own in order to give them a level-playing field with minor ports. (FE)
Peak power demand deficit to widen to 12.6% in 2010. (BL)
Finance minister raises concern over high inflation. (BL)
Government is likely to issue guidelines for 3G auction today. (BS)
That Tightening feeling again!
We can let circumstances rule us, or we can take charge and rule our lives from within.
Possibilities of further monetary tightening by China spooked world markets even as investors mulled results from top US banks. Tightening fears may not be misplaced after all, China’s Q4 GDP accelerated to 10.7% from 8.9% in Q3.
The dollar and the yen rose and commodity-linked currencies dropped. Lingering worries over possible debt troubles pressured the euro. The Dow fell 122 points in the steepest fall since mid-December. Meanwhile, the World Bank says the global economy is set for a tepid rebound and may run out of steam later this year.
We expect a shaky start as most Asian markets are in red or flat. The outlook remains murky. The key indices will continue to consolidate at least till the RBI policy meet. Budget will be another major event as it will indicate the Government’s views on ‘stimulus exit’.
India Infoline Q3 Consolidated Income was up 39% yoy and Net Profit rose 100% yoy. Income stood at Rs3.19bn, up 1.9 % QoQ and 38.7% yoy. PBT was at Rs968.5mn, up 113.5% yoy.
We expect ONGC to report 21% YoY growth in revenues and 107.6% YoY jump in PAT. ICICI Bank is expected to post 7.2% YoY gain in its net interest income while net profit is forecast to grow 15.1% YoY.
Results Today: Abhishek Ind, ACE, Adhunik Metaliks, Amara Raja Batteries, Apar Ind, Asahi India, BHEL, Biocon, Brigade, GSFC, ICICI Bank, Idea, IBull Power, IBull Realty, Indotech Transformers, Indraprastha Gas, ING Vysya Bank, Ipca Labs, JSW Energy, Jubilant Organosys, Kirloskar Oil, Kotak Bank, L&T, M&M Financial, Ngarjuna Fertilizers, NDTV, Network 18, ONGC, Petronet LNG, Piramal Healthcare, Rolta, Sasken, Shree Cement, United Spirits, Welspun Gujarat, WWIL and Zensar Tech.
FIIs were net sellers in the cash segment on Wednesday at Rs2.71bn on a provisional basis. The local funds were net buyers of Rs3.44bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs54.2mn. As per the SEBI figures, FIIs were net sellers of Rs4.51bn in the cash segment on Tuesday.
US stocks slumped as a strong dollar and speculation about China's lending curbs slammed commodities, one of the leaders of the recent rally. IBM dragged on the technology sector as investors picked apart the company's outlook one day after sending the stock higher.
The Dow Jones industrial average fell 122 points, or 1.1%, after having fallen as much as 207 points in the morning. The S&P 500 index lost 12 points, or 1%. The Nasdaq composite gave back 29 points, or 1.3%.
A stronger dollar pressured dollar-traded commodity prices and stocks. The sector was also hit by reports that China intends to slow the pace of lending this year in an attempt to get ahead of inflation.
China's efforts to get their banks to lend less really hit commodities hard, because China is the marginal buyer of commodities.
Commodities and commodity stocks were among the big leaders of the rally over the last year and the weakness in the sector dragged on the broader market on Wednesday.
Commodities were also under pressure in reaction to the dollar, which firmed up in comparison to a weak euro and in response to the surprise Republican senatorial victory in Massachusetts.
Investors were assessing the surprise Republican election to the Massachusetts Senate seat previously held by the late Ted Kennedy. The upset victor could kill health care reform by ending the Democrats' majority in the Senate. Additionally, House Democrats are opposed to the idea of passing the Senate health care bill.
IBM and the techs led stocks higher on Tuesday and IBM and the techs were among the biggest drags Wednesday, as investors backtracked one day after the Dow, S&P 500 and Nasdaq ended at the highest levels since Sept. 2008.
IBM reported higher quarterly sales and earnings late Tuesday that topped estimates. But investors took a "sell the news" approach and sent shares almost 3% lower on Wednesday.
IBM said it earned $3.59 per share versus $3.28 a year earlier. Analysts surveyed by Thomson Reuters thought it would earn $3.47 per share. Sales inched up to $27.23 billion from $27 billion in the prior year versus forecasts for a drop to $26.96 billion.
Looking forward, IBM said it expects earnings per share of at least $11 for 2010.
Starbucks reported higher quarterly sales and earnings that topped estimates thanks largely to growth at stores open a year or more, a retail metric known as same-store sales.
Dow component Bank of America said losses widened to $5.2 billion in the fourth quarter of last year, partly due to the bank paying back government bailout funds. BofA said the repayments shaved $4 billion off its bottom line.
The company was expected to post a loss of $3.9 billion, according to forecasts. On a per-share basis, BofA lost 60 cents versus forecasts for a loss of 52 cents. Shares were barely changed.
Morgan Stanley reported its second-straight quarterly profit, one year after posting a massive loss. The financial firm said it earned $617 million for the quarter versus a loss of $11 billion a year ago. The stock fell around 1.7%.
Wells Fargo reported a surprise profit of $2.82 billion, or 8 cents a share, versus forecasts for a small loss. The bank benefited from stronger fee income, even as it repaid $25 billion in bailout money. Shares fell 1.6%.
Building permits, a measure of builder confidence, rose to a 653,000 unit annual rate in December from a 589,000 rate in November, the government reported. Permits were expected to rise to a 590,000 rate, according to a consensus of economists.
But housing starts fell to a 557,000 unit annual rate from a 580,000 unit rate in November. Economists thought starts would fall to a 572,000 unit rate.
The Producer Price Index (PPI), a measure of wholesale inflation, rose 0.2% in December after climbing 1.8% in the previous month. Economists thought it would hold steady. The so-called core PPI, which strips out volatile food and energy prices, was flat versus forecasts for a gain of 0.1%. Core PPI rose 0.5% in the prior month.
The dollar gained versus the euro and the yen.
COMEX gold for February delivery fell $27.40 to settle at $1,112.60 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 $1.87 to settle at $77.62 a barrel on the New York Mercantile Exchange.
Treasury prices rose in a classic flight-to-quality, lowering the yield on the 10-year note to 3.65% from 3.69% late on Tuesday.
European shares fell with miners leading decliners amid speculation China has ordered a curb on bank lending. Backing off Tuesday's 15-month closing high, the pan-European Dow Jones Stoxx 600 index lost 1.5% to 256.46.
The euro hit a five-month low in the session against the dollar. Worries about Greece's budget problems also hurt sentiment.
The Greek ASE Composite index fell 3.4% to 2,030.28, while the German DAX index lost 2.1% to 5,851.53, the French CAC-40 index declined 2% to 3,928.95 and the U.K. FTSE 100 index shed 1.7% to 5,420.80.
The Indian market ended on a flat note but off the day’s low amid continued volatility as investors mulled a spate of results. A healthy start was marred by selling pressure around noon when equity markets across Asia lost ground led by China on reports that Chinese regulators have asked some banks to limit their lending.
Chinese stocks slid, dragging the region’s benchmark to its third straight decline, after the news. The dollar gained against 14 of 16 of the most-traded currencies while the euro tumbled to a four-month low against the dollar.
The Shanghai Composite Index lost 2.9% and Hang Seng Index slipped 1.9%, leading declines in Asia. The Morgan Stanley Asia Pacific Index fell 0.7% to 124.44 at 5 p.m. in Tokyo. US stock futures were negative. The Dow Jones Stoxx 600 Index fell 0.3% to 259.59 at 8 a.m. in London.
Back home, among the BSE sectoral indices, Realty, Oil & Gas and FMCG led the decline today. Even the PSU stocks, which have been on fire lately on disinvestment trigger, saw profit booking. The Mid-Cap and Small-Cap stocks too failed to do an encore.
The BSE Sensex ended flat at 17,474 after touching a high of 17,590 and a low of 17,425. The Nifty ended flat at 5,221.
Equity markets in Asia ended mixed. The Nikkei in Japan was down 0.3%, while Australia's S&P/ASX ended flat. The Shanghai SE Composite was down 2.5% and Hang Seng index in Hong Kong ended lower by 1.8%.
In Europe, stocks were trading in the red. The DAX in Germany was down 0.5% and the CAC 40 index in France was down 0.5%. The FTSE in the UK fell 0.6%.
Coming back to India, among the BSE sectoral indices, the Realty index was the top loser, shedding 2%, followed by the Oil & Gas index that was down 1.3% and the BSE PSU index was down 1.2%. The BSE Mid-Cap index ended lower by 0.2% while BSE Small-Cap index was down 0.3%.
Among the 30-components of Sensex, 17 stocks ended in the negative terrain and 12 ended in the green. JP Associates, ONGC, Sterlite, DLF and Wipro were among the top losers.
Bucking the negative trend were, Bharti Airtel, Maruti, Tata Steel and Hindalco were among the top gainers.
Wipro posted a net profit of Rs12.1bn for the quarter ended December 31, 2009 as compared to Rs10.03bn for the quarter ended December 31, 2008. Total Income has increased from Rs67.73bn for the quarter ended December 31, 2008 to Rs70.55bn for the quarter ended December 31, 2009.
The scrip ended lower by 1.8% to end at Rs725, it opened at Rs740 it touched an intra-day high of Rs753 and a low of Rs722 and recorded volumes of over 0.3mn shares on BSE.
Dr Reddys Laboratories posted a net loss attributable to the shareholders of the parent of (Rs2.33)bn for the quarter ended December 31, 2009 as compared to Net Profit Rs1.59bn for the quarter ended December 31, 2008.
Total Income has decreased from Rs18.55bn for the quarter ended December 31, 2008 to Rs17.67bn for the quarter ended December 31, 2009.
The scrip gained 2% to end at Rs1202, it opened at Rs1194 it touched an intra-day high of Rs1219 and a low of Rs1141 and recorded volumes of over 0.13mn shares on BSE.
HDFC posted a net profit after tax of Rs6.7bn up 24% for the quarter ended December 31, 2009 as compared to Rs5.4bn for the quarter ended December 31, 2008. Total Income has decreased from Rs29.24bn for the quarter ended December 31, 2008 to Rs27.62bn for the quarter ended December 31, 2009.
Shares of HDFC gained by 0.5% to end at Rs2524. The scrip opened at Rs2534 it touched an intra-day high of Rs2553 and a low of Rs2495 and recorded volumes of over 0.13mn shares on BSE.
Lupin announced that its U.S. subsidiary, Lupin Pharmaceuticals, Inc (LPI) has received the tentative approval for the Company's Abbreviated New Drug Application (ANDA) for its Memantine Hydrochloride tablets, 5mg and 10mg from the US Food and Drug Administration (USFDA)
Lupin's Memantine HC1 tablets are AB-rated to Namenda® tablets indicated for the treatment of moderate to severe dementia of the Alzheime's type Namenda had annual sales of approximately $1.1 billion for the twelve months ended September 2009, based on IMS health sales data.
The scrip gained 0.5% to end at Rs1420, it opened at Rs1420 it touched an intra-day high of Rs1455 and a low of Rs1418 and recorded volumes of over 40,000 shares on BSE.
HDIL announced that it has posted a decline of 12% in net profit which stood at Rs1.62bn for the quarter ended December 31, 2009 as compared to Rs1.84bn for the quarter ended December 31, 2008. While total income has increased from Rs3.4bn for the quarter ended December 31, 2008 to Rs4.35bn for the quarter ended December 31, 2009.
Shares of HDIL ended lower by 4% to end at Rs371. The scrip opened at Rs388 it touched an intra-day high of Rs388 and a low of Rs369 and recorded volumes of over 2.5mn shares on BSE.
Shares of Siemens gained by 3.5% to end at Rs668 after the Company’s consortium and Siemens AG, Germany has won an order from Qatar General Electricity & Water Corporation (Kahramaa), Qatar worth Rs29.56bn.
The contract value for the Company is approx Rs24.91 bn.
The scope of work for this turnkey project includes complete design, engineering, supply, erection, civil, testing and commissioning of 14 new substation, 5 modification substation and 5 cable diversions. The commissioning of the project is scheduled to be completed in April 2013.
Yes Bank Q3 net profit rose 18% at Rs1.26bn as against Rs1.06bn in the same period previous year. Shares of Yes Bank slipped 4% to end at Rs272. The scrip opened at Rs286 it touched an intra-day high of Rs288 and a low of Rs271 and recorded volumes of over 1mn shares on BSE.
Sun TV posted a net profit after taxes of Rs1.5bn for the quarter ended December 31, 2009 as compared to Rs1.1bn for the quarter ended December 31, 2008. Total Income has increased from Rs2.8bn for the quarter ended December 31, 2008 to Rs4.03bn for the quarter ended December 31, 2009.
The scrip shot up by over 10% to end at Rs408, it opened at Rs375 it touched an intra-day high of Rs421 and a low of Rs367 and recorded volumes of over 0.76mn shares on BSE.
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