Nifty February 2010 futures at premium

Turnover rises

Nifty February 2010 futures were at 4,885, at a premium of 17.75 points as compared to the spot closing of 4,867.25. Turnover in NSE's futures & options (F&O) segment increased to Rs 1,66,193.03 crore from Rs 1,58,503.98 crore on Wednesday, 27 January 2010.

The near-month January 2010 contracts expired today, 28 January 2010. The rollover of Nifty futures from January 2010 series to February 2010 series was about 60% and for Mini Nifty futures it was about 64% at the end of Wednesday's trading.

Reliance Industries February 2010 futures were at premium at 1,043.55 compared to the spot closing of 1,038.35.

Tata Steel February 2010 futures were at discount at 581 compared to the spot closing of 587.85.

State Bank of India February 2010 futures were at discount at 2,005.60 compared to the spot closing of 2,010.

In the cash market, the S&P CNX Nifty rose 14.15 points or 0.29% at 4867.25.

Sensex snaps losing streak; ends up 17.05 pts

Markets ended on a flat note by snapping six day losing streak. Indian equities bounced back on Thursday snapping earlier losses. It opened on a positive note, tracking good global cues and later turned volatile in the second half. The expiry of derivative contracts added to the volatility.

Finally, it closed in the green touching a high of 16,524.69 and low of 16,182.14. Opening of Eropean market lifted the market sentiment. NSE F&O turnover hits all time high today.

At the close, the benchmark 30-share index, BSE Sensex gained 17.05 or 0.10% at 16,306.87 with 12 components registering rise. Meanwhile, the broad based NSE Nifty went up by 14.15 or 0.29% at 4,867.25 with 27 components registering rise.

Sensex Movers

Reliance Industries contributed rise of 24.58 points in the Sensex. It was followed by Tata Steel (24.53 points), Housing Development Finance Corporation (14.01 points), Wipro (7.45 points) and State Bank Of India (6.31 points).

However, Larsen & Toubro contributed fall of 20.59 points in the Sensex. It was followed by Bharti Airtel (13 points), Hindustan Unilever (5.28 points), Oil & Natural Gas Corporation (4.84 points) and I T C (4.34 points).

Biggest gainers in the 30-share index were Tata Steel (4.81%), Wipro (2.82%), D L F (2.37%), Sun Pharmaceutical Industries (2.07%), Housing Development Finance Corporation (1.76%), and Grasim Industries (1.50%).

On the other hand, Bharti Airtel (2.39%), Reliance Communications (2.03%), Larsen & Toubro (1.97%), Jaiprakash Associates (1.67%), Hindustan Unilever (1.48%), and ACC (1.42%) were the major losers in the Sensex.

Mid & Small-cap Space

The BSE Midcap settled higher 15.35 points or -0.17% at 6,444.51 however the Bse Smallcap dropped 0.00 points or 0.00% at 8,134.89 at the closing.

The major gainers in the BSE Midcap were A I A Engineering (5.23%), Ackruti City (2.01%), Allcargo Global Logistics (0.89%), Allahabad Bank (0.56%) and Alfa-Laval (India) (0.55%).

The major losers in the BSE Smallcap were Action Construction Equipment (1.61%), Advanta India (1.51%), Ador Welding (1.2%), A B G Shipyard (0.98%) and Aarti Industries (0.53%).

The BSE Smallcap index was at 8134.89 down by 13.92 points or by 0.17%. The major losers were Action Construction Equipment (1.61%), Advanta India (1.51%), Ador Welding (1.2%), A B G Shipyard (0.98%) and Aarti Industries (0.53%).

Sectors in Limelight

The Realty index was at 3,411.56, up by 54.31 points or by 1.62%. The major gainers were D L F (2.37%), Housing Development and Infrastructure (2.3%), Peninsula Land (2.08%), Ackruti City (2.01%) and Mahindra Lifespace Developers (0.46%).

The HC index was at 4,752.03, up by 61.74 points or by 1.32%. The major gainers were Dr Reddy`S Laboratories (4.54%), Apollo Hospitals Enterprise (2.14%), Cipla (1.8%), Glaxo SmithKline Pharmaceuticals (0.96%) and Biocon (0.51%).

The Metal index was at 16,215.58, up by 165.01 points or by 1.03%. The major gainers were Gujarat N R E Coke (5.98%), JSW Steel (2.89%), NMDC (2.11%), Ispat Industries (1.83%) and Jindal Steel & Power (0.94%).

On the other hand, the Capital Goods index was at 12,961.17, down by 39.99 points or by 0.31%. The major losers were Alstom Projects India (4.05%), Bharat Bijlee (2.09%), BEML (1.9%), Bharat Heavy Electricals (0.4%) and Elecon Engineering Company (0.13%).

Market Breadth

Market breadth was negative with 1,124 advances against 1,749 declines.

Value and Volume Toppers

Aban Offshore topped the value chart on the BSE with a turnover of Rs. 2,735.77 million. It was followed by Tata Steel (Rs. 2,023.41 million), State Bank Of India (Rs. 1,406.31 million) and Jai Corp (Rs. 1,283.33 million).

The volume chart was led by Unitech with trades of over 8.49 million shares. It was followed by Ispat Industries (8.44 million), Suzlon Energy (7.03 million) and Rashtriya Chemicals & Fertilizers (6.56 million).

The Reserve Bank of India (RBI) monetary policy is scheduled tomorrow, Jan. 29, 2010 at 12 hours IST.

Inflation
Cooling food prices since last three weeks bounced back this week to stand at 17.40% for the for the week ended Jan. 16, 2010 as against 16.81% in the previous week. Index for primary articles increased further to 14.66% as against 13.93% for the week ago.

Results

Tata Steel, India`s largest integrated private sector steel company, recorded 2.55 times jump in its net profit for the quarter ended Dec. 31, 2009. Its net profit stood at Rs 11,917.5 million for the quarter ending on Dec.31, 2009 against Rs 4,662.4 million for the quarter ending on Dec. 31, 2009.

Canara Bank today reported a rise of 50.05% in the net profit for quarter ended Dec.31, 2009. During the quarter, the profit of the company was at Rs 10,525.80 million as compared to Rs 7,015 million for the quarter ended Dec. 31, 2008. Total income for the quarter was at Rs 54,691 million, a rise of 1.60% over the prior year period

Lanco Infratech on consolidated basis reported a rise of 33.77% in net profit for the quarter ended December 2009. The company posted a net profit to Rs 1,068.40 million for the quarter ended Dec. 31, 2009 as against Rs 798.70 million for the same period last year.

Consolidated total Income has declined by 11.24% to Rs 16,329.70 million for the quarter ended Dec. 31, 2009 from Rs 18,397.50 million for the quarter ended Dec. 31, 2008.

BSE Bulk Deals to Watch - Jan 28 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
28/1/2010 524412 Aarey Drugs PATEL APEXA JAGDISHBHAI S 25302 47.08
28/1/2010 523204 Aban Offshore GENUINE STOCK BROKERS PVT. LTD. B 295780 1155.79
28/1/2010 523204 Aban Offshore GENUINE STOCK BROKERS PVT. LTD. S 295780 1158.38
28/1/2010 530901 ACIL Cot Inds NILESH KRUSHNA PALANDE B 64455 13.90
28/1/2010 530901 ACIL Cot Inds MESSRS SHREEKANT PHUMBHRA S 70000 13.90
28/1/2010 531678 Anand Credit SAVITRIDEVI SHAHRA B 50000 47.51
28/1/2010 531678 Anand Credit NEETA SHAHRA B 50000 47.51
28/1/2010 531678 Anand Credit SHOBHNABEN R PARMAR S 52600 47.61
28/1/2010 531678 Anand Credit PANDYA YAMINIBEN M S 94500 47.54
28/1/2010 531678 Anand Credit LAXMAN DHIRUBHAI PARMAR S 42800 47.58
28/1/2010 511605 Arihant Cap NIOL IMPEX PRIVATE LIMITED B 40000 107.99
28/1/2010 522005 Austin Engr PUNEET MAHAJAN B 25000 90.20
28/1/2010 505506 Axon Infotech RAJASTHAN GLOBAL SEC LTD B 20361 24.44
28/1/2010 505506 Axon Infotech ABSOLUTE LEASING & FINANCE PVT LTD B 29262 24.37
28/1/2010 505506 Axon Infotech CHIMANLAL MANEKLAL SECURITIES PVT.LTD B 4801 24.73
28/1/2010 505506 Axon Infotech SWAPAN MUKHERJEE S 5000 24.40
28/1/2010 505506 Axon Infotech CHIMANLAL MANEKLAL SECURITIES PVT.LTD S 6470 24.74
28/1/2010 505506 Axon Infotech CHANCHAL AGARWALLA S 8439 24.10
28/1/2010 505506 Axon Infotech SUNIL GUPTA AND OTHERS HUF S 5000 24.11
28/1/2010 531590 Bilpower NIKUNJ ALLOYS AND STEEL PRIVATE LIMITED S 62400 190.00
28/1/2010 511607 Birla Shloka MOHAN LAL AGARWAL B 58907 49.73
28/1/2010 511607 Birla Shloka PALENIVEL MUDALIAR B 32586 50.00
28/1/2010 511607 Birla Shloka APURVA COMMODITIES PRIVATE LIM B 450000 50.00
28/1/2010 511607 Birla Shloka BHAVISH DHIRAJLAL KHAKHKHAR B 92206 50.67
28/1/2010 511607 Birla Shloka PUSHKAR BANIJYA LIMITED B 225000 50.01
28/1/2010 511607 Birla Shloka NIRAJHAR SUKHSANGHVI B 120082 49.88
28/1/2010 511607 Birla Shloka TEJAL MERCHANTILE PRIVATE LIMITED B 40000 50.00
28/1/2010 511607 Birla Shloka TALISMAN SECUTIRIES PVT LTD B 500000 50.00
28/1/2010 511607 Birla Shloka SALOO INVESTMENTS AND CONSULTANTS LIMITED B 667810 50.00
28/1/2010 511607 Birla Shloka DEVKANT SYNTHETICS INDIA PVT. B 274446 49.98
28/1/2010 511607 Birla Shloka KUMAR PATKI KISHORE B 40000 50.00
28/1/2010 511607 Birla Shloka TRIPTI SINGHVI B 73000 50.06
28/1/2010 511607 Birla Shloka MOHAN LAL AGARWAL S 58907 50.45
28/1/2010 511607 Birla Shloka PALENIVEL MUDALIAR S 32586 50.09
28/1/2010 511607 Birla Shloka BHAVISH DHIRAJLAL KHAKHKHAR S 92206 49.97
28/1/2010 511607 Birla Shloka NIRAJHAR SUKHSANGHVI S 120082 50.08
28/1/2010 511607 Birla Shloka BINAY KUMAR JHUNJHUNWALA S 71040 50.00
28/1/2010 511607 Birla Shloka PINKHEM INVESTMENT CO PVT LTD S 101872 50.00
28/1/2010 511607 Birla Shloka DEVKANT SYNTHETICS INDIA PVT. S 100000 50.00
28/1/2010 511607 Birla Shloka TRIPTI SINGHVI S 73000 50.00
28/1/2010 511607 Birla Shloka SUBHASH MANGAL S 30030 50.02
28/1/2010 511607 Birla Shloka AJAY BANWARILAL KEJRIWAL S 101872 50.00
28/1/2010 531723 Brilliant Sec CREATIVE MOVES (MUMBAI) PRIVATE LIMITED B 40000 24.75
28/1/2010 531723 Brilliant Sec VENKATESWAR RAO NELLUTLA S 50010 24.76
28/1/2010 526783 Dr Agarwals BHARAT JAYANTILAL PATEL B 36015 63.49
28/1/2010 511668 Fact Enterprise J V STOCK BROKING PRIVATE LIMITED B 52536 21.87
28/1/2010 511668 Fact Enterprise ANGEL INFIN PRIVATE LIMITED B 90500 21.76
28/1/2010 511668 Fact Enterprise JMP SECURITIES PVT LTD B 50000 21.75
28/1/2010 511668 Fact Enterprise ANGEL INFIN PRIVATE LIMITED S 81525 21.75
28/1/2010 511668 Fact Enterprise JMP SECURITIES PVT LTD S 50000 21.78
28/1/2010 511668 Fact Enterprise MERRILL LYNCH CAPITAL MARKETS ESPANA SA SV S 35778 21.77
28/1/2010 500139 Fedders Lloyd LLOYD SALES PRIVATE LIMITED B 665087 81.10
28/1/2010 500139 Fedders Lloyd PERFECT RADIATORS AND OIL COOLERS PVT LTD S 665087 81.10
28/1/2010 590024 Fert & Chem Trv TRANSGLOBAL SECURITIES LTD. B 94444 62.66
28/1/2010 590024 Fert & Chem Trv TRANSGLOBAL SECURITIES LTD. S 94444 62.54
28/1/2010 514167 Ganesh Poly SABANA MASARIYA S 50000 37.42
28/1/2010 530743 GEI Indl DHOOT INDUSTRIAL FINANCE LTD B 214837 77.96
28/1/2010 530743 GEI Indl AAP INVESTMENTS S 100000 78.02
28/1/2010 530743 GEI Indl UMESH PURUSHOTTAM CHAMDIA S 125000 78.08
28/1/2010 530579 Golden Sec MANISH RAMANLAL SHAH S 15791 5.75
28/1/2010 531111 Gothi Plascon SANJAY GOTHI HUF B 51500 4.97
28/1/2010 501700 Indianivesh AASHKA CONSTRUCTION PVT LTD B 149094 646.26
28/1/2010 501700 Indianivesh SANMATI GOODS PVT LTD S 23455 646.48
28/1/2010 501700 Indianivesh BASUKINATH BARTER PVT LTD S 30921 646.34
28/1/2010 530255 KAY Power KAUSHALYA GARG B 53509 15.35
28/1/2010 526379 Konkan Tyres MEENA INDRAMAL JAIN B 18541 10.25
28/1/2010 532986 Niraj Cement RAJARAM VISHWAS PATIL B 68311 45.05
28/1/2010 532986 Niraj Cement RAJARAM VISHWAS PATIL S 62279 44.30
28/1/2010 531496 Omkar Overseas RITA MANISHKUMAR SHAH B 34250 46.71
28/1/2010 531496 Omkar Overseas VIJAY VELJIBHAI PADHARIA B 82000 46.02
28/1/2010 531496 Omkar Overseas PRASHANT SHANKARLAL AGARWAL S 70000 45.89
28/1/2010 531496 Omkar Overseas SHANKARLAL GOPIRAM AGARWAL S 30000 46.25
28/1/2010 511702 Parsharti Inv AXIOM CAPITAL ADVISORS PRIVATE LIMITED B 31054 37.28
28/1/2010 511702 Parsharti Inv AXIOM CAPITAL ADVISORS PRIVATE LIMITED S 31054 37.27
28/1/2010 531855 Prabhav Inds JIGNESH CHANDRAKANT SHAH B 50000 50.00
28/1/2010 531855 Prabhav Inds RAMESH VIRAJ SHAH S 105000 50.00
28/1/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 160315 32.12
28/1/2010 502587 Rama Pulp OMPARKASH GUPTA B 77578 31.74
28/1/2010 502587 Rama Pulp ANIL SUGNO MANGHNANI B 45000 32.42
28/1/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA S 150914 31.73
28/1/2010 502587 Rama Pulp OMPARKASH GUPTA S 77578 31.84
28/1/2010 502587 Rama Pulp SUBHASH PHOOTARMAL RATHOD S 40000 32.50
28/1/2010 590077 Ranklin Sol OMPARKASH GUPTA B 37346 56.54
28/1/2010 590077 Ranklin Sol SATISH MORTHA B 26000 56.39
28/1/2010 531033 Regal Entert KETAN DWARKADAS CHANDAN B 29826 6.94
28/1/2010 531033 Regal Entert UPSURGE INVESTMENT AND FINANCE LTD S 42000 6.94
28/1/2010 526510 Shakti Metdor VANITHA YERRAM B 30000 177.80
28/1/2010 526510 Shakti Metdor SITA MAMIDIPUDI S 32500 177.82
28/1/2010 532908 Sharon Bio A T INVOFIN INDIA PVT LTD S 63801 78.08
28/1/2010 532956 Solectron EMS BHARAT SHAH B 40933 45.05
28/1/2010 517534 SV Electricals MANJU VIJAYVARGIYA B 35000 31.55
28/1/2010 517534 SV Electricals CHANDRA BHAN GUPTA S 80000 31.55
28/1/2010 533121 THINKSOFT TRANSGLOBAL SECURITIES LTD. B 56302 464.00
28/1/2010 533121 THINKSOFT A K G STOCK BROKERS PRIVATE LIMITED B 79042 463.80
28/1/2010 533121 THINKSOFT TRANSGLOBAL SECURITIES LTD. S 56302 465.01
28/1/2010 533121 THINKSOFT A K G STOCK BROKERS PRIVATE LIMITED S 79042 464.65
28/1/2010 522091 United Van Der AAP INVESTMENTS S 32000 36.85
28/1/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR B 24182 411.46
28/1/2010 531249 Well Pack Papers PANDYA YAMINIBEN M B 68217 419.62
28/1/2010 531249 Well Pack Papers PANDYA YAMINIBEN M S 61390 419.32
28/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR S 31486 411.68
28/1/2010 531249 Well Pack Papers NAVNATH SAKHARAM GHONE S 24052 410.31
28/1/2010 590013 XPRO India IPRO CAPITAL LIMITED B 250000 32.50
28/1/2010 590013 XPRO India MINERAL ORIENTAL LIMITED S 150000 32.50
28/1/2010 590013 XPRO India BIRLA EASTERN LTD S 100000 32.50
* B - Buy, S - Sell

NSE Bulk Deals to Watch - Jan 28 2010

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
28-JAN-2010,ABAN,Aban Offshore Ltd.,C D INTEGRATED SERVICES LTD.,BUY,308612,1193.10,-
28-JAN-2010,ABAN,Aban Offshore Ltd.,GENUINE STOCK BROKERS PVT LTD,BUY,407678,1155.12,-
28-JAN-2010,ABAN,Aban Offshore Ltd.,TODI SECURITIES PVT. LTD.,BUY,358020,1145.62,-
28-JAN-2010,AUROPHARMA,Aurobindo Pharma Ltd.,DEUTSCHE SECURITIES MAURITIUS LIMITED,BUY,597541,851.50,-
28-JAN-2010,BAJAJHIND,Bajaj Hindusthan Ltd,EAST INDIA SECURITIES LTD.,BUY,1080573,212.85,-
28-JAN-2010,BAJAJHIND,Bajaj Hindusthan Ltd,INDIANIVESH LIMITED,BUY,1112525,213.37,-
28-JAN-2010,BAJAJHIND,Bajaj Hindusthan Ltd,JUPITER ENTERPRISES LTD,BUY,1390112,216.93,-
28-JAN-2010,BAJAJHIND,Bajaj Hindusthan Ltd,NUPOOR CAPITALS PVT LTD,BUY,1575139,211.77,-
28-JAN-2010,BAJAJHIND,Bajaj Hindusthan Ltd,PRIMESEC INVESTMENTS LIMITED,BUY,1000000,217.37,-
28-JAN-2010,GTLINFRA,GTL Infrastructure Limite,BARCLAYS CAPITAL MAURITIUS LTD,BUY,5470800,41.98,-
28-JAN-2010,IBREALEST,Indiabulls Real Estate Li,FIDELITY A/C FID DEVONSHIRE TRT EQUITY INC,BUY,2398876,174.35,-
28-JAN-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,BUY,10528418,19.47,-
28-JAN-2010,OCL,OCL India Limited,DALMIA CEMENT (BHARAT) LTD.,BUY,13462404,131.60,-
28-JAN-2010,RAMANEWS,Rama Newsprint and Papers,EAST INDIA SECURITIES LTD.,BUY,1500000,32.72,-
28-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,97328,464.26,-
28-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,52012,466.10,-
28-JAN-2010,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,1301110,18.03,-
28-JAN-2010,ABAN,Aban Offshore Ltd.,C D INTEGRATED SERVICES LTD.,SELL,308612,1193.41,-
28-JAN-2010,ABAN,Aban Offshore Ltd.,CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL CODE,SELL,225000,1133.35,-
28-JAN-2010,ABAN,Aban Offshore Ltd.,GENUINE STOCK BROKERS PVT LTD,SELL,407250,1154.08,-
28-JAN-2010,ABAN,Aban Offshore Ltd.,TODI SECURITIES PVT. LTD.,SELL,358020,1146.69,-
28-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,INDIAN OVERSEAS BANK,SELL,16760,222.54,-
28-JAN-2010,AUROPHARMA,Aurobindo Pharma Ltd.,BARCLAYS CAPITAL MAURITIUS LTD,SELL,597541,851.50,-
28-JAN-2010,BAJAJHIND,Bajaj Hindusthan Ltd,BARCLAYS CAPITAL MAURITIUS LTD,SELL,2087625,212.21,-
28-JAN-2010,BAJAJHIND,Bajaj Hindusthan Ltd,EAST INDIA SECURITIES LTD.,SELL,1047798,211.58,-
28-JAN-2010,BAJAJHIND,Bajaj Hindusthan Ltd,INDIANIVESH LIMITED,SELL,225000,216.84,-
28-JAN-2010,BAJAJHIND,Bajaj Hindusthan Ltd,JUPITER ENTERPRISES LTD,SELL,201454,216.63,-
28-JAN-2010,DCHL,Deccan Chronicle Hold Ltd,CREDIT SUISSE FIRST BOSTON (SINGAPORE) LIMITED,SELL,1458600,146.86,-
28-JAN-2010,FSL,Firstsource Solutions Lim,CREDIT SUISSE FIRST BOSTON (SINGAPORE) LIMITED,SELL,4123000,30.71,-
28-JAN-2010,IBREALEST,Indiabulls Real Estate Li,FIDELITY MGMT AND RESEARCH CO A/C FIDELITY INVST TRUST FIDEL,SELL,2510490,174.35,-
28-JAN-2010,ICSA,ICSA (India) Limited,CREDIT SUISSE FIRST BOSTON (SINGAPORE) LIMITED,SELL,249600,155.83,-
28-JAN-2010,IFCI,IFCI Ltd.,SOCIETY GENERALE,SELL,4113360,47.28,-
28-JAN-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,10026910,19.46,-
28-JAN-2010,ISPATIND,Ispat Industries Limited,SOCIETY GENERALE,SELL,7059150,19.48,-
28-JAN-2010,OCL,OCL India Limited,PUNEET DALMIA,SELL,1551525,131.60,-
28-JAN-2010,OCL,OCL India Limited,SHREE NIRMAN LIMITED,SELL,558586,131.60,-
28-JAN-2010,OCL,OCL India Limited,YADU HARI DALMIA,SELL,11352293,131.60,-
28-JAN-2010,PRAJIND,Praj Industries Ltd,CREDIT SUISSE FIRST BOSTON (SINGAPORE) LTD,SELL,1487200,85.19,-
28-JAN-2010,RAMANEWS,Rama Newsprint and Papers,ASHUTOSH OMPRAKASH SANGHAI,SELL,815141,32.71,-
28-JAN-2010,RAMANEWS,Rama Newsprint and Papers,NAINA SANGHAI,SELL,639826,32.74,-
28-JAN-2010,SPICEMOBIL,Spice Mobiles Limited,SHARAD SHAH.,SELL,504052,35.11,-
28-JAN-2010,SUBEX,Subex Limited,CREDIT SUISSE (SINGAPORE) LIMITED A/C CREDIT SUISSE (SING) ,SELL,290000,66.46,-
28-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,97328,464.11,-
28-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,52022,465.75,-
28-JAN-2010,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,1306110,18.04,-

Expiry jitters

Global signals

European equities were up 1.3% in morning trade on Thursday, recovering from a one-week slide after the US President Barack Obama moderated his tone on bank restrictions in his State of the Union speech.

All the major Asian indices closed higher on good earning numbers. SGX Nifty gained 32 points.

US stock index futures added gains in late after-hours trading on Wednesday, as investors took President Barack Obama's State of the Union speech as toning down some of the rhetoric that unnerved investors last week when he unveiled new restrictions on US banks.

Indian indices

Despite Asian indices closing in green, the Indian stock market seemed to have lost steam after opening strong. The Sensex opened 17 points higher at 16317 and touched the day's high of 16525 (around 208 points higher) within one hour of trading on brisk buying in heavyweights. However, it shed its early gains on heavy selling in capital goods (CG), fast moving consumer goods (FMCG), Teck and consumer durable (CD) stocks and entered negative territory by afternoon. The Sensex swung between negative and positive thereafter, as investors turned cautious due to lack of clarity. The Sensex tumbled below 16200-mark towards afternoon session to touch the intra-day low of 16182 amid relentless selling pressure, but buying at lower levels helped it pare some losses. The Sensex finally closed at 16290, up 17 points, while Nifty ended 14 points up at 4867.

Sensex sentiment

The market breadth was weak, as losers outpaced gainers. Of the 2,902 stocks trading on the BSE, 1,725 stocks decline, whereas 1,126 stocks advanced. Fifty one stocks ended unchanged.

Sectoral & stock screening

January F&O contract expiry jitters kept sectors either marginally up or slightly down. Realty, healthcare and metal indices were up by more than 1%. Capital goods, Teck and FMCG sector indices were tad negative. The remaining indices were slightly up for the day.

Most of the index heavyweights witnessed correction. Among the Sensex majors, Bharti Airtel tumbled 2.39% to Rs314.05, Reliance Communications dropped 2.03% to Rs171.35, Larsen & Toubro lost 1.97% to Rs1431.20, JP Associates slumped 1.67% to Rs135.25, Hindustan Unilever slipped 1.48% to Rs255.45, ACC shed 1.42% at Rs868.55, Sterlite Industries lost 0.86% at Rs763.40, ONGC, Hero Honda, ITC, Tata Consultancy Services, Bharat Heavy Electricals lost around 0.50% each. However, select counters saw some buying and ended with gains. Tata Steel advanced 4.81% to Rs585.55 while Wipro, DLF, Sun Pharmaceutical Industries, HDFC, Grasim Industries, Maruti Suzuki India and Reliance Industries ended with gains of 1-2% each.

Viewing volumes

Unitech saw highest trading with over 0.84 crore shares changing hands on the BSE to be followed by Ispat Industries (0.84 crore shares), Suzlon Energy (0.70 crore shares), Rashtriya Chemicals and Fertilisers (0.65 crore shares) and IFCI (0.44 crore shares).

Market snaps six-day losing streak on higher global stocks

The key benchmark indices closed with small gains in what was a choppy trading session, halting last six days' steep losses. Firm global stocks supported domestic bourses. Volatility was the order of the day as traders rolled over positions in the derivatives segment ahead of the expiry of the near-month January 2010 futures & options contracts today, 28 January 2010. The BSE 30-share Sensex rose 17.05 points or 0.1%, off close to 220 points from the day's high and up close to 125 points from the day's low. Capital goods stocks fell. But, healthcare, banking, realty and metal stocks rose. The market breadth was weak.

The key benchmarks moved in an erratic manner. The market pared gains after a firm start triggered by higher Asian stocks. The market regained strength in morning trade. The market pared gains again in mid-morning trade after hitting fresh intraday high in morning trade. The market further trimmed gains in early afternoon trade after the government released the weekly inflation data. The market recovered from lower level in afternoon trade. The market moved between positive and negative zone for a while. Volatility surged in mid-afternoon trade.

India VIX, a volatility index based on the S&P CNX Nifty index option prices, declined after a steep rise on Wednesday. It declined 6.78% to 26.96. India VIX is a measure of the market's expectation of volatility over the next 30 calendar days

The US Federal Reserve on Wednesday, 27 January 2010, said conditions in the world's largest economy are showing signs of improvement. The Fed said it intended to end some emergency lending and asset-buying programs while sounding more upbeat on the economy overall. The Fed also left its benchmark interest rate in a range between zero and 0.25% and renewed its pledge to keep the rate near zero to promote economic recovery.

World stocks rose after US President Obama moderated his tone on bank restrictions. In his annual State of the Union address on Wednesday, Obama pledged to slap tough new regulation on Wall Street but said he was "not interested in punishing banks." Obama said he would continue financial reform to fight against excessive speculation and also vowed he would veto any finance bill that does not contain "real reform." Investors will now pay attention to Treasury Secretary Timothy Geithner's speech in Minnesota later in the global day for fresh cues about bank regulation plans. The US earlier this month proposed plans that would limit banks' risk-taking capability.

Obama pledged to double exports in five years to help create jobs, prompting some market players to think the US government may seek a weak dollar to promote exports

Meanwhile, the Fed and other major central banks around the world on Wednesday decided to end emergency dollar lending operations on 1 February 2010 due to improvement in financial markets. The decision marks the first unified retraction by central banks around the world of extraordinary support measures to boost lending after credit markets seized up in late 2007, causing the global economic downturn.

The Fed announced in December 2007 that it had authorized so-called liquidity swap lines with the European Central Bank and the Swiss National Bank. The agreement was extended to include several other central banks in April 2009. Under the arrangements, central banks around the world provided each other with foreign currency - the Fed made US dollar liquidity available elsewhere, with the ECB providing euros and the Bank of England providing sterling. The agreements added up to hundreds of billions of dollars.

The aim was to improve liquidity conditions in US and foreign financial markets after banks became nervous of lending to each other amid concerns about the state of balance sheets across the industry.

Equities worldwide fell sharply over the past few days following reports China has directed banks to pull back lending activity in a bid to stave off overheating in its economy. China's economy grew by 10.7% in the fourth quarter. Weak global cues and sustained selling spree by foreign investors had weighed on the domestic bourses in recent trading sessions. From a high of 17,641.08 on 18 January 2010, the Sensex had lost 1,351.26 points or 7.65% to 16,289.82 on Wednesday, 27 January 2010.

In the derivatives segment, rollover of Nifty futures from January 2010 series to February 2010 series was about 60% and for Mini Nifty futures it was about 64% at the end of Wednesday's trading. Among individual stocks, higher rollover has been seen in stocks like Idea Cellular, Hindustan Unilever, Bhel, Tata Steel, and Mahindra & Mahindra. Stocks where rollover is low include Sun Pharma, Andhra Bank, ONGC, Bajaj Hindustan and Orchid Chemicals.

On the macro front, the government said today that food price index rose 17.40 % in the year to 16 January 2010 slightly higher than previous week's rise of 16.81%. Fuel price index rose 5.70% while primary articles price index rose 14.66% in the year to 16 January 2010 .

The Reserve Bank of India need not take monetary measures to contain food inflation, farm minister Sharad Pawar said on Wednesday. Pawar also said the wholesale sugar prices have already come down and retail prices may also follow suit soon.

Market men expect a 50 basis point increase in the cash reserve ratio (CRR), or the proportion of deposits banks must keep with the Reserve Bank at the Reserve Bank of India (RBI)'s quarterly monetary policy review scheduled to be announced on Friday, 29 January 2010. Statements from the central bank in its macro-economic review would be watched as it will provide final clues on the policy outlook.

Inflation has surged, primarily driven by a sharp rise in food prices after a weak monsoon. Signs of economic recovery are also evident in strong GDP and industrial output data. The RBI says the rise in inflation driven by food prices is a supply-side issue that monetary policy cannot address. Still, it is worried about inflation pressures spilling over to the broader economy, and will watch for signs of demand-side price pressures in indicators such as asset prices, credit growth, and manufacturing prices.

The widely watched wholesale price index rose in December by 7.3% over a year earlier, its fastest pace since November 2008 and jumping from 4.8% in November 2009. 16.81%

European equities gained on Thursday, bouncing back from a sharp one-week slide after Obama moderated his tone on bank restrictions in the State of the Union speech. The key benchmark indices in France, Germany and UK were up by between 0.44% to 0.55%.

Asian stocks gained on Thursday after Federal Reserve left interest rates unchanged at record low. The key benchmark indices in Hong Kong, Japan, Indonesia, South Korea, Singapore and Taiwan rose by between 1.04% to 1.9%.

However, the upside in Chinese stocks was capped by lingering concerns over credit tightening. The Shanghai Composite index rose 0.25%.

US index futures cut most of its initial gains. Trading in US index futures indicated Dow could gain 5 points at the opening bell on Thursday, 28 January 2010.

US stocks eked out gains led by tech stocks and financials on Wednesday, which rebounded amid relief that the Fed's statement offered no surprises. Stocks had languished for much of the day amid some disappointing earnings outlooks and an unexpected drop in home sales but recovered in late trade. Annualized new home sales for December declined 7.6% against expectations of 3% rise. The Dow Jones Industrial Average added 41.87 points, or 0.4%, to 10,236.16. The Standard & Poor's 500 index gained 5.33 points, or 0.5%, to 1,097.50, while the Nasdaq Composite Index added 17.68 points, or 0.8%, to 2,221.41.

Closer home, the BSE 30-share Sensex rose 17.05 points or 0.1% to 16,306.87. It shed 107.68 at the day's low of 16,182.14 in afternoon trade. The Sensex rose 234.87 points at the day's high of 16524.69 in morning trade.

The S&P CNX Nifty rose 14.15 points or 0.29% to 4867.25.

BSE clocked a turnover of Rs 4989 crore, lower than Rs 5782.95 crore on Wednesday, 27 January 2010.

The market breadth, indicating the overall health of the market, was weak. That was in complete contrast to a strong breadth earlier in the day. On BSE, 1117 shares advanced as compared with 1727 that fell. A total of 53 shares remained unchanged.

Among the 30 share Sensex pack, 12 rose and rest declined.

The BSE Mid-Cap index rose 0.24% and outperformed the Sensex. The BSE Small-Cap index fell 0.17% and underperformed the Sensex.

Most of the sectoral indices on BSE rose. BSE Realty index (up 1.62%), BSE Healthcare index (up 1.32%), BSE Metal index (up 1.03%), banking sector index Bankex (up 0.83%), BSE Power index (up 0.83%), BSE Oil & Gas index (up 0.49%), BSE IT index (up 0.48%), BSE Auto index (up 0.43%), BSE PSU index (up 0.31%), and BSE Consumer Durables index (up 0.16%), outperformed the Sensex. BSE FMCG index (down 0.24%) and BSE Capital Goods index (down 0.31%), underperformed the Sensex.

Index heavyweight Reliance Industries (RIL) rose 1.13% to Rs 1037.40. The stock was volatile. It hit a high of Rs 1046 and a low of Rs 1025.10. The company's net profit rose 15.77% to Rs 4008 crore on 89.77% surge in total income to Rs 57364 crore in Q3 December 2009 over Q3 December 2008. RIL said the results had been reworked and restated to include figures from Reliance Petroleum, which it absorbed last year. The company announced the Q3 result during market hours on 22 January 2010.

India's largest engineering and construction firm by sales Larsen & Toubro fell 1.97%. The government is reportedly considering selling its stakes in the firm in tranches to state-run financial institutions.

India's largest power equipment maker by sales Bharat Heavy Electricals fell 0.4%. Bharat Heavy Electricals said on Wednesday it would sign an agreement with the Madhya Pradesh state utility to jointly set up a 1,600 megawatts thermal power plant in the central Indian state.

Among other capital goods stocks, Areva T&D, BEML and Praj Industries fell by between 0.67% to 5.67%.

Metal stocks rose on bargain hunting after recent sharp fall. India's largest private sector steel maker by sales Tata Steel rose 4.81% as net profit surged 155.6% to Rs 1191.75 crore in Q3 December 2009 over Q3 December 2008. The company announced the result during market hours today. Tata Steel will report consolidated third-quarter results, to include the Corus numbers, next month. The Indian operations account for a quarter of the group's annual global capacity of about 30 million tonnes.

Jindal Saw, JSW Steel, Jindal Steel & Power rose by between 0.72% to 2.89%.

Steel Authority of India (Sail) rose 1.69%. Sail on Wednesday reported a 99% jump in its net profit at Rs 1,675.55 crore in Q3 December 2009 over Q3 December 2008.

But, India's largest non-ferrous metal firm by capacity Sterlite Industries India fell 0.88%. The company's net profit slumped 77.16% to Rs 46.59 crore on a 39.83% increase in sales to Rs 3611.99 crore in Q3 December 2009 over Q3 December 2008. The stock had lost 4.04% on Wednesday.

India's largest private sector aluminum maker by sales Hindalco Industries fell 1.37%. The company's net profit fell 21.60% to Rs 427.10 crore on a 29.56% increase in sales to Rs 5286.10 crore in Q3 December 2009 over Q3 December 2008.

National Aluminium Company lost 6.09% after net profit declined 29.3% to Rs 155.18 crore in Q3 December 2009 over Q3 December 2008.

Rate sensitive realty shares gained on bargain hunting. Unitech, Ackruti City, Housing Development & Infrastructure, Sobha Developers rose by between 2.01% to 4.17%.

India's largest realty player by sales DLF rose 2.37%. The company's net profit rose 26.04% to Rs 224.43 crore on 109.03% rise in sales to Rs 887.16 crore in Q3 December 2009 over Q3 December 2008. The company announced the Q3 result after market hours on Wednesday.

Rate sensitive banking shares fell ahead of RBI's monetary policy review on Friday, 29 January 2010. India's second largest private sector bank by net profit HDFC Bank fell 0.12% as its ADR fell 4% on Wednesday. But, India's largest private sector bank by net profit ICICI Bank fell 0.2%. Its ADR fell 0.75% on Wednesday.

India's largest bank by net profit and branch network State Bank of India rose 0.82%. The bank's net profit remained flat in the third quarter ended December 2009 to Rs 2,479 crore against Rs 2,478 crore in the year-ago period. Net interest income increased by 9.69% in the quarter under review compared with the same period in the previous fiscal. However, net interest margin declined to 2.82% from 3.10%.

Banks' outstanding loans fell by Rs 11,900 crore in the two weeks to 15 January 2010 because companies repaid some loans as is typical at the beginning of a quarter, the central bank's data showed on Wednesday. The Reserve Bank of India data showed loans fell to Rs 30,08,000 crore in the two weeks to 15 January 2010 and deposits fell by around Rs 22,000 crore to Rs 42,43,000 crore. In the two weeks to 1 January 2010, outstanding loans rose by a massive Rs 78,192 crore and deposits also went up by Rs 82,769 crore.

IT stocks reversed early gains on fears the Obama administration's bank reform plan will crimp outsourcing demand. India's largest IT exporter by sales Tata Consultancy Services fell 0.42%. India's second largest IT exporter by sales Infosys fell 0.16%. Its ADR rose 0.68% on Wednesday. But, India's third largest software services exporter Wipro rose 2.82%. Wipro said on Wednesday it signed a multi-year outsourcing deal with British American Tobacco Plc, the world's second-biggest cigarette maker. Its ADR fell 3.03% on Wednesday.

Healthcare stocks rose after healthcare firms reported good Q3 result. Pfizer, Dr Reddy's Laboratories, Biocon, Sun Pharmaceutical Industries, Ranbaxy Laboratories rose by between 0.33% to 4.54%. Cipla rose 1.8% ahead of its Q3 result today.

Shares of India's largest cigarette maker by sales ITC fell 0.53%. The government is reportedly considering selling its stakes in consumer goods maker ITC in tranches to state-run financial institutions. The company posted 26.67% rise in net profit to Rs 1144.17 crore in Q3 December 2009 over Q3 December 2008. The company announced Q3 result during market hours on 22 January 2010.

India's largest FMCG major by sales Hindustan Unilever fell 1.48%. The company's net profit rose 5.4% to Rs 649 crore in Q3 December 2009 over Q3 December 2008.

Among other FMCG stocks, Tata Tea, Godrej Consumer and United Breweries fell by between 1.15% to 3.44%.

Stocks from interest rate sensitive auto sector were mixed. Auto stocks underwent profit booking in the past few days after auto major Mahindra & Mahindra's earnings fell short of street expectations.

India's largest tractor maker by sales Mahindra and Mahindra (M&M) rose 1.09%. The stock had slumped 5.64% on Wednesday after Monday's over 5% slide

M&M's net profit surged 849% to Rs 413.70 crore on a 56.32% rise in sales to Rs 4478.70 crore in Q3 December 2009 over Q3 December 2008. The result was announced during trading hours on Monday, 25 January 2010. Meanwhile, the company on Monday also approved a 2-for-1 stock split.

India's top small car maker by sales Maruti Suzuki India rose 1.25%. But, India's top truck marker by sales Tata Motors fell 0.1% ahead of its Q3 December 2009 earnings on Saturday, 29 January 2010. The stock had lost 6.8% on Wednesday.

India's largest motorbike maker by sales Hero Honda Motors fell 0.76% extending Wednesday's 4.24% decline. After market hours on 25 January 2010, the company reported a 78.34% rise in net profit to Rs 535.77 crore on a 32.72% rise in sales to Rs 3814.42 crore in Q3 December 2009 over Q3 December 2008.

Cals Refineries clocked the highest volume of 2.18 crore shares on BSE. Unitech (0.84 crore shares), Ispat Industries (0.84 crore shares), Suzlon Energy (0.7 crore shares) and Rashtriya Chemicals & Fertilisers (0.65 crore shares) were the other volume toppers in that order.

Aban Offshore clocked the highest turnover of Rs 273.57 crore on BSE. Tata Steel (Rs 202.34 crore), State Bank of India (Rs 140.63 crore), Jai Corp (Rs 128.33 crore) and ICICI Bank (Rs 123.86 crore) were the other turnover toppers in that order.

Latest Grey Market Premiums - Jan 28 2010

Company Name	Offer Price (Rs.)	Premium (Rs.)	Kostak (Rs. 1 Lac Application)
Jubilant Food Works	135 to 145	19 to 21	--
Infinite Computer	165	30 to 32	--
Birla Shloka	45 to 50	Discount	--
Aqua Logistics	220 to 230	5.5 to 10.50	2050 to 2100
Syncom Healthcare	65 to 75	4.50 to 5	1950 to 2000
Thangamayil Jewellery	70 to 75	3 to 3.50	1850 to 1900
Vascon Engg.	165 to 185	12 to 13	1900 to 1950
D. B. Realty	468 to 486	18 to 19	1800 to 1900
Emmbi Polyarns	40 o 45	4 to 4.50	1800 to 2000

Daily Newsletters - Jan 28 2010

Daily Newsletters - Jan 28 2010

US stocks end with modest gains

Federal Reserve's statement gives financial sector a good push

US stocks stayed in the red for the first half of the day on Wednesday, 27 January 2010. Traders dismissed another batch of better-than-expected earnings as they prepared for the latest Federal Open Market Committee (FOMC) announcement at 2:15 PM ET. Then Fed's comments gave the financial stocks a good push, which thereby led a modest rally in the market helping the indices end in the green.

At the end of the day on Wednesday, 27 January, 2010, the Dow Jones Industrial Average ended higher by 41.87 points at 10,236.16. Nasdaq ended higher by 17.68 points at 2221.41. S&P 500 ended higher by 5.33 points at 1097.5. Earlier in the day, Dow was trading lower by almost 45 points.

Seven of ten economic sectors ended in the green led by financial, technology and healthcare sectors. Materials, energy, and utilities sectors were the main laggards.

While Boeing was a major Dow gainer, Caterpillar stock weighed on the Dow. Apple and RIMM helped Nasdaq outperform its counterparts.

Among earning reports expected for the day, Caterpillar , United Technologies, Boeing and ConocoPhillips released upside earnings surprises for the latest quarter. However, themes like low quality earnings and mixed guidance made for an underwhelming response to the announcements. Boeing reported fourth quarter profit more than expected. Caterpillar's fourth quarter profit was below expectation and the company lowered its FY 2010 earning outlook.

Financials made up the only major sector to sport a gain and materials stocks were the worst off this session during the first half of the day. Steel stocks were been a primary source of weakness in the sector. Financial sector was up as regional bank stocks and diversified banks gained ground.

Among economic data expected for the day, new home sales data for December didn't do anything to improve the mood of participants with its midmorning release. According to the report, annualized new home sales made a 7.6% monthly decline, which contrasted negatively with the consensus call for a 3% month-over-month increase.

The Federal Reserve's statement on U.S. monetary policy came out in the noon hours today. The central bank, as expected, kept its federal-funds rate unchanged on Wednesday and said it would keep them exceptionally low for an extended period.

Crude oil prices dropped on Wednesday, 27 January 2010. Prices dropped due to impending worries from China front where tightening monetary policies are bothering investors due to shaky demand for crude in coming months. Buildup in gasoline inventories for last week also aided in slipping crude oil prices.

On Wednesday, crude-oil futures for light sweet crude for March delivery closed at $73.67/barrel (lower by $1.04 or 1.4%). During intra day trading, prices rose to a high of $75.14. Last week, crude ended lower by 4.7%. On a year to date basis till date, crude is lower by 8.4%.

In the currency market on Wednesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies rose marginally. The dollar gained almost 0.4% against the euro.

Indian ADRs ended in a mixed mode today. HDFC Bank, Punjab Tractors, and Tata Motors ended in the red today losing 4%, 4.6% and 5.4% respectively. Rediff.com was one of the few winners gaining 3.6%.

Tomorrow, there are quite a few economic reports scheduled for the day. The important ones are initial claims, continuing claims and durable goods orders. Other than that, earning reports will continue to dominate.

DB Realty sets Rs 468-486 per share price band for IPO

The public issue to open for subscription on 29 January 2010

Mumbai-based realty firm DB Realty is entering capital market with an initial public offering (IPO) of Rs 1,500 crore on 29 January, 2010.

The price band has been fixed at Rs 468-486 per share. The issue will close for subscription on 2 February 2010.

The issue proceeds will be used for its ongoing projects and pre-paying the loan taken from IDFC.

As on 31 August 2009, it has 10 ongoing projects, aggregating approximately 18.61 million square feet of saleable area, 9 forthcoming projects, aggregating approximately 20.17 million square feet of saleable area and 6 upcoming projects, aggregating approximately 22.11 million square feet of saleable area.

Market may snap recent losses on positive Asia; food inflation data eyed

The market may snap last six days losses on positive Asia after Federal Reserve left interest rates unchanged and signaled that low rates would remain for the extended period. However, equities are likely to remain volatile as traders roll positions in the derivative segment from January 2010 series to February 2010 series ahead of the expiry of the near-month January 2010 contracts today, 28 January 2010.

The government will today unveil data on some wholesale price indices for the year through 16 January 2010 viz. the food price index, the primary articles index and the fuel price index.

Among prominent results, Cipla and Tata Steel will announce their quarterly result today.

The Reserve Bank of India need not take monetary measures to contain food inflation, the farm minister Sharad Pawar said on Wednesday. Sharad Pawar also said the wholesale sugar prices have already come down and retail prices may also follow suit soon.

The marketmen expect 50 basis point increase in the cash reserve ratio (CRR), or the proportion of deposits banks must keep with the Reserve Bank in Reserve Bank of India (RBI)'s quarterly monetary policy review scheduled to be announced on Friday, 29 January 2010.

Inflation has surged, primarily driven by a sharp rise in food prices after a weak monsoon. Signs of economic recovery are also evident in strong GDP and industrial output data. The RBI says the rise in inflation driven by food prices is a supply-side issue monetary policy cannot address. Still, it is worried about inflation pressures spilling over to the broader economy, and will watch for signs of demand-side price pressures in indicators such as asset prices, credit growth, and manufacturing prices.

The widely watched wholesale price index rose in December by 7.3 % over a year earlier, its fastest pace since November 2008 and jumping from 4.8 % in November. Food prices rose 16.81 %t in the 12 months to 9 January 2010, easing from a rise of nearly 20 % in early December.

Asian stocks gained on Thursday after Federal Reserve left interest rates unchanged at record low. The key benchmark indices in Hong Kong, Japan, Indonesia, South Korea, Singapore and Taiwan rose by between 0.61% to 1.85%. But, China's Shanghai Composite fell 0.1%.

US stocks eked out gains led by tech stocks and financials on Wednesday, which rebounded amid relief that the Fed's statement offered no surprises. Stocks had languished for much of the day amid some disappointing earnings outlooks and an unexpected drop in home sales but recovered in the late trade. Annualized new home sales for December declined 7.6% against expectations of 3% rise. The Dow Jones Industrial Average added 41.87 points, or 0.4%, to 10,236.16. The Standard & Poor's 500 index gained 5.33 points, or 0.5%, to 1,097.50, while the Nasdaq Composite Index added 17.68 points, or 0.8%, to 2,221.41.

After a two-day meeting, the Federal Reserve left interest rates unchanged. Policy makers kept the "extended period" language in its statement, referring to how long they will leave interest rates low. The policy statement reflected a somewhat brighter tone than it had at the previous meeting in December, although the Fed removed a reference to improvement in the housing market

Closer home, the key benchmark indices suffered a severe setback on Wednesday extending losses for the sixth straight day on weak global cues. The BSE 30-share Sensex plunged 490.64 points or 2.92% to 16,289.82 on that day.

As per provisional data on NSE, foreign funds sold s

Daily News Roundup - Jan 28 2010

The Ministry of Environment and Forests has denied permission to Adani Group for coal mining at Lohara near Tadoba Andhari Tiger Reserve. (ET)

Board of Directors of HUL has approved a proposal to merge its wholly-owned subsidiary Bon with itself with effect from April 1, 2010. (ET)

NTPC plans to sell at least 15% of its additional capacity through power exchanges to third party buyers. (ET)

NTPC is inviting tenders for 11 super-critical units of 660MW from February 3, 2010. (BS)

Bharati Airtel to outsource US$1bn cable business over a period of five years. (ET)

Government may sell stakes in L&T and ITC to financial institutions. (ET)

Wipro has signed a mulit-year outsourcing deal with British American Tobacco Company. (BS)

Power Grid Corp Board has given in-principle approval for a FPO. (BS)

Axis Bank to borrow US$140mn in two years.(BS)

Jaiprakash Power to raise US$300mn by issue of bonds for meeting capital expenditure needs. (BS)

ONGC has signed an agreement with Sonangol to bid for oil acreage in Angola. (BS)

KEI Industries plans to set up manufacturing plants in Africa and West Asia. (BS)

Tata Steel awaits Jharkhand resettlement and rehabilitation policies to start a 12mtpa Greenfield project near Tontaposhi. (FE)

With cement demand in Dubai dropping sharply, Binani Cement plans to enter markets in Oman, Kuwait, Sudan, Iraq and South Africa. (BL)

Easun Reyrolle is setting up a switchgear plant in Bangalore as well as in Germany. (FE)

Mega Mart, a retail chain division of Arvind Ltd, is eyeing revenue of Rs10bn in next 3-4 years. (FE)

CESC Ltd is now leading the race to secure power distribution licence for Patna. (BL)

Tata Communications plans to invest about US$50mn over the next two years into its newly-formed Global Media & Entertainment Solutions group. (BL)

Kuwait's PIC is keen to invest in ONGC's two petrochem projects. (BL)

Container Corporation of India hopes to post an impressive growth in throughput in the fourth quarter and thus achieve overall 4-5% growth in FY10. (BL)

Dolphin Offshore is planning to broaden its business canvas by entering into deep-water operations. (BL)

Aegis Ltd IPO may hit markets by May 2010. (BS)

The government has allowed UMPP to use surplus coal for other power projects. (ET)

Government approves four shipping projects under PPP route involving a total investment of Rs41bn. (ET)

GST faces further delay as many states pitch for higher rates. (ET)

The centeral board of excise and customs has recommended an overhaul on SEZ Act, 2005. (BS)

Andhra Pradesh raises tax on aviation fuel from 4% to 16%. (BS)

The total number of telephone subscribers in the country reached 562.1mn in December 2009, registering a growth of 3.5% mom. (FE)

The Steel Minister is set to take up the issue of making operational the joint venture International Coal Ventures Ltd (ICVL) with his coal counterpart. (BL)

From December 4, 2009 to January 1, 2010, bank investments in mutual funds have fallen by 75%. (FE)

Government may allow UP mills to sell sugar lying at local ports. (BS)

Bank credit fell by Rs119bn to Rs30,089bn for the fortnight ended January 15. (BL)

Imports of sensitive items rose 34.5% in April-October 2009 at Rs355bn from Rs264bn during the corresponding previous period. (BL)

Banks are seeking 80C relief for 3-year term deposits. (BL)

Storm passes by!

It is the set of the sail that decides the goal, and not the storm of life.

The worst of the storm has passed for the economy, says President Obama in the State of the Union address minutes ago. After having a torrid time over the last few sessions and suffering heavy losses, bulls could heave a sigh of relief today.

Things appear to be stabilising a bit after the recent storm. US stocks ended higher and a rebound in Asian markets. European stocks closed in the red, dragged down by losses in banks. We expect a higher opening on firm global cues. The SGX Nifty futures are pointing to a 1% gain at start.

Volatility could escalate due to the F&O expiry as also due to the near-term uncertainties. The Nifty could cross 4900 but it remains to be seen if it sustains above that level. The Nifty will find it tough to surpass 5000 unless FIIs turn buyers again and global mood improves.

The RBI is expected to hike CRR at its policy meeting tomorrow. The market could stage a meaningful recovery in the ensuing days if the RBI does not spring a nasty surprise.

Results Today: Aban Offshore, Alstom Projects, Apollo Hospitals, Avaya Global, BOI, Bharati Shipyard, Blue Dart, BPCL, BPL, Britannia, Cairn India, Canara Bank, Central Bank, Cipla, Colgate India, Crompton Greaves, Den Networks, Dena Bank, Dredging Corp., Engineers India, Federal Bank, GMR Infra, IOB, IRB Infra, IVRCL Infra, J&K Bank, Jai Corp., Jain Irrigation, Jindal Steel, Jindal Stainless, Kesoram, Madras Cements, Marico, MRF, Mundra Port, Opto Circuits, OBC, Pidilite, Reliance Media, Tata Steel, Tata Tea, Torrent Power, Ucal Fuel and United Phosphorus.

FIIs were net sellers in the cash segment on Wednesday at Rs22.12bn on a provisional basis. The local funds were net buyers of Rs14.75bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers at Rs7.49bn. As per the SEBI figures, FIIs were net sellers of Rs9bn in the cash segment on Monday.

Wall Street and European market roundup will be updated a little later.

To say that it was a horrendous day for the bulls would be an understatement. Equity markets in India collapsed like a pack of cards, tumbling for a sixth straight session. With this, India has witnessed the longest sequence of losses in three months. Short term traders have borne the brunt of the drubbing as the BSE Sensex plunged over 1350 points or 7% in only a week’s time.

Indian stocks were getting pounded even though equity markets across the globe were down by only a percent or so. What’s worse, the bloodbath today was accompanied by record breaking turnover, a day before the F&O expiry. The total turnover on the bourses went past Rs1.80 lakh crores with the F&O turnover surpassing Rs1.57 lakh crores.

Corporate earnings were completely ignored as investors turned nervous ahead of the RBI policy meet on Friday. It may be recalled that global sentiment has been hit lately by fears of monetary tightening by China and strict new norms for large US banks. High beta stocks like Realty, Banking and Metals took it on the chin.

Technically speaking, the Nifty went on to break the 100 DMA which has proved to be a crucial support/resistance level in the past. Earlier when the Nifty breached the 100 DMA the index slipped from a high of 6,000 to March 2009 lows. So are we entering in an intermediate bear phase? It is a tough call to take at this juncture. Just wait and watch.

What also made marketmen jittery are a slew of big events scheduled in the US this week. The Fed policymakers will announce the outcome of a two-day meeting later today. Also, the State of the Union address is due from President Barack Obama. A vote is expected on Fed chief Ben Bernanke’s second term. US secretary Tim Geithner will also be in the firing line of US lawmakers for the controversial bail outs of AIG and other top Wall Street firms.

Finally, the BSE Sensex slumped 490 points to end at 16,289 after touching a high of 16,877 and a low of 16,705. The Nifty fell 155 points to end at 4,853.

Equity markets in Asia ended in the red. The Nikkei in Japan was down 0.7%, while Australia's S&P/ASX ended lower by 1.5%. The Shanghai SE Composite ended lower by 1% and Hang Seng index in Hong Kong was down 0.4%.

The Shanghai Composite Index in China fell below the 3,000 levels forthe first time since October 30. The slide was led by the bankingstocks which witnessed huge selling on account of lending curbs. Inaddition raw- material producers also slid.

The Shanghai SeComposite index declined 1.1% to end at 2,986. The index also slippedbelow its 200-day moving average for the first time in 2-years.

In Europe, stocks were trading in the red. The DAX in Germany was down 0.4% and the CAC 40 index in France was down 0.8. The FTSE in the UK was down 0.7%.

Coming back to India, the BSE Realty index was the top loser, shedding 8%, followed by the Metal index that was down 6% and the BSE Auto index was down 5%. The BSE Mid-Cap index slipped 4% while BSE Small-Cap index was down 5%.

Among the 30-components of Sensex 29 ended in the negative terrain and only ITC stood firm. ICICI Bank, Tata Steel, SBI, Reliance Industries and HDFC Bank were among the top losers.

Outside the frontline indices, the big losers in the broader market were HCL Tech, Century Tex, Madras Cem, Yes Bank and Voltas. On the other hand, gainers included Jai Corp, Jet Airways, Koutons, Gujarat NRE and REI Agro..

Shares of SAIL slipped 3% to end at 216. The company announced its Q3 results with net profit at Rs16.76bn as compared to Rs8.43bn in the same period last year, registering a growth of 98% YoY.

Adani Enterprises posted a consolidated net profit of Rs3.03bn for the quarter ended December 31, 2009 as compared to Rs1.31bn for the quarter ended December 31, 2008. Total Income has decreased from Rs66.56bn for the quarter ended December 31, 2008 to Rs63.82bn for the quarter ended December 31, 2009.

The Company posted a net profit of Rs304.9mn for the quarter ended December 31, 2009 as compared to Rs559.4mn for the quarter ended December 31, 2008. Total Income has decreased from Rs31.76bn for the quarter ended December 31, 2008 to Rs28.08bn for the quarter ended December 31, 2009.

Shares of Adani Ent slipped by 2% to end at Rs444. The scrip opened at Rs458 it touched an intra-day high of Rs458 and a low of Rs435 and recorded volumes of over 0.14mn shares on BSE.

Copper drops for second straight day

Prices drop as world gears up for winding up of stimuli plans

Base metal prices ended lower for the second consecutive day on Wednesday, 27 January 2010. Prices dropped due to impending worries from China front where tightening monetary policies are bothering investors due to shaky demand of metals in coming months. Winding up of stimulus plans across other parts of the world also hammered base metal prices.

At USA, copper futures for March delivery ended lower by 12 cents (3.5%) to 3.2225 a pound. Last week, copper ended lower by 0.6%. This year, till date, copper is lower by 4.5%. Copper ended FY 2009 higher by 140%.

At LME, copper for delivery in three months ended lower by $151 (2%) at $7,230. 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.

The U.S. buys about 13% of the 17 million metric tons of copper sold annually and China buys about 20%.

The Federal Reserve's statement on U.S. monetary policy came out in the noon hours today. The central bank, as expected, kept its federal-funds rate unchanged on Wednesday and said it would keep them exceptionally low for an extended period.

In the currency market on Wednesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies rose marginally. The dollar gained almost 0.4% against the euro.

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 14 (4%) at Rs 331.2/Kg. Prices rose to a high of Rs 345.05/Kg and fell to a low of Rs 330/Kg during the day's trading.

Among other metals traded in the LME on Wednesday, lead ended 1.5% lower at $2,168 a ton and zinc dropped 1.2% to end at $2,291 a ton. Nickel dropped 1.1% to end at $18,005. Aluminum shed marginally to end at $2,221 a ton.

Positive global cues may push market higher today

Indian equities are likely to open positive on Thursday, Jan. 28, 2010. SGX Nifty is trading at 4,888 (8.01 am), 53 points higher than Wednesday`s closing of 4,835.

Asian stocks rose for the first time in nine days, led by electronics and technology companies, after Canon Inc. forecast its biggest profit increase in a decade. Japanese benchmark index Nikkei 225 rose 152.75 points, or 1.49%, to trade at 10,404.83.

US stocks recovered from an early slide to end moderately higher after the Fed issued a more upbeat assessment of the economy following a two-day meeting on interest rates. The Dow Jones industrial average rose 41.87 points, or 0.41%, to 10,236.16. Among Indian ADRs, Sterlite Industries (India) (1.39%), Infosys Technologies (0.68%), Dr Reddy`S Laboratories (0.59%) were major gainers. On the other hand, I C I C I Bank (0.75%), MTNL (2.64%), Wipro (3.03%), Satyam Computer Services (3.39%) was major losers.

In the spot market, the Dollar Index increased 0.309% to 78.92. It touched a high of 79.07 and a low of 78.73 after opening at 78.73. (21:19 ET)

European stocks dropped for the fifth time in six days amid concern Europe, China and the US will step up plans to unwind stimulus measures. UK`s benchmark index FTSE 100 declined 59.38 points, or 1.13%, to end at 5,217.47.

Oil prices continued their two-week slide on Wednesday after a government report showed demand for crude products dropped even further from the weak levels of a year ago when the recession`s grip on the economy was strongest. Benchmark crude for March delivery fell USD 1.04 to settle at USD 73.67 a barrel on the New York Mercantile Exchange.

Turnover jumps

Nifty January 2010 futures at discount

Nifty January 2010 futures were at 4,835, at a discount of 18.10 points as compared to the spot closing of 4853.10. Turnover in NSE's futures & options (F&O) segment spurted to Rs 1,58,503.98 crore from Rs 92,202.15 crore on Monday, 25 January 2010.

The near-month January 2010 contracts will expire tomorrow, 28 January 2010. Rollover so far is substantially lower at 36% from 49% on comparable day last month.

Bharat Heavy Electricals January 2010 futures were at huge discount at 2320.45 compared to the spot closing of 2348.

Larsen & Toubro January 2010 futures were at discount at 1449 compared to the spot closing of 1451.35.

Suzlon Energy January 2010 futures were near spot price at 72.80 compared to the spot closing of 72.75.

In the cash market, the S&P CNX Nifty lost 154.80 points or 3.09% at 4853.10.

Bullion metals shed glaze

Prices drop on demand concerns from China

Precious metal prices ended lower on Wednesday, 27 January 2010. Prices dropped due to impending worries from China front where tightening monetary policies are bothering investors due to shaky demand of metals in coming months.

Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa.

On Wednesday, gold for April delivery ended at $1,085.7 an ounce, lower by $13.8 (1.3%) an ounce on the New York Mercantile Exchange. Last week, prices ended lower by 2.4%. Year to date in FY 2010, gold prices are lower by 0.8%.

Last year, after hitting a low at $807.30 per ounce on 15 January 2009, gold futures rallied almost 51% to hit an all-time high at $1217.40 per ounce during early December of 2009 but fell from those levels at the end.

On Wednesday, March Comex silver futures ended lower by 42 cents (2.5%) at $16.44 an ounce. Last week, silver ended lower by 8.1%. Year to date in FY 2010, silver has dropped by almost 2.2%.

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.

The Federal Reserve's statement on U.S. monetary policy came out in the noon hours today. After that, gold traded electronically stuck near its floor trading close. The central bank, as expected, kept its federal-funds rate unchanged on Wednesday and said it would keep them exceptionally low for an extended period.

In the currency market on Wednesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies rose marginally. The dollar gained almost 0.4% against the euro.

Gold had ended FY 2009 higher by 24%. Silver futures had ended 2009 up 50%. The dollar index had lost 4.2% against its counterparts last year.

At the MCX, gold prices for February delivery closed lower by Rs 22 (0.13%) at Rs 16,441 per ten grams. Prices rose to a high of Rs 16,558 per 10 grams and fell to a low of Rs 16,422 per 10 grams during the day's trading.

At the MCX, silver prices for March delivery closed Rs 742 (2.8%) lower at Rs 26,071/Kg. Prices opened at Rs 26,751/kg and fell to a low of Rs 26,020/Kg during the day's trading.

Crude slips further

Prices drop due to rise in gasoline inventories and demand concerns

Crude oil prices dropped on Wednesday, 27 January 2010. Prices dropped due to impending worries from China front where tightening monetary policies are bothering investors due to shaky demand for crude in coming months. Buildup in gasoline inventories for last week also aided in slipping crude oil prices.

On Wednesday, crude-oil futures for light sweet crude for March delivery closed at $73.67/barrel (lower by $1.04 or 1.4%). During intra day trading, prices rose to a high of $75.14. Last week, crude ended lower by 4.7%. On a year to date basis till date, crude is lower by 8.4%.

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 52.5% since then. Crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex.

The Energy department reported in its weekly inventory report today that crude-oil supplies for the week ended 22 January 2009 fell 3.9 million barrels. Gasoline inventories rose 2 million barrels. Distillate supplies rose 400,000 barrels. Market was expecting crude and gasoline stockpiles to show an increase of 2 million and 1.7 million barrels respectively.

In the currency market on Wednesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies rose marginally. The dollar gained almost 0.4% against the euro.

Last week, in the latest report, the Organization of the Petroleum Exporting Countries said that world oil demand is forecast to grow by 800,000 barrels a day this year to average 85.1 million barrels a day, representing no major change from last month's forecast.

Paris based, IEA, left its forecasts for global oil demand for 2010 virtually unchanged in its latest monthly report last week. It forecasts demand of 86.3 million barrels a day in 2010, up 1.7%, or 1.4 million barrels a day higher than 2009.

Among other energy products on Wednesday, March gasoline closed at $1.9474 a gallon, down 3 cents, or 1.5%. Heating oil for March delivery sank 3 cents, or 1.8%, to $1.9267 a gallon.

Also on Wednesday, natural gas futures for March delivery closed down 21 cents, or 3.8%, to $5.224 per million British thermal units, ahead of Thursday's inventories report.

At the MCX, crude oil for February delivery closed Rs 32 (0.92%) lower at Rs 3,445/barrel. Natural gas for February delivery closed lower by Rs 18.7 (7.1%) at Rs 243.9/mmbtu.

Syndicate Bank

We recommend a sell in the stock Syndicate Bank from a short-term perspective. It is evident from the charts that the stock was on an intermediate-term uptrend from March 2009 low to October 2009, from Rs 37 to Rs 105. However, experiencing long-term resistance in the band between Rs 100 and Rs 105, the stock started to decline. Though it tried to breach the resistance in December, it failed as it lost bullish momentum. Since October 2009, the stock has been on a medium-term downtrend. Last week the stock fell, penetrating its 21 and 50-day moving averages conclusively. Moreover, it broke through an intermediate-term support level at Rs 85 on January 27, by plunging 4 per cent. The daily and weekly moving average convergence and divergence indicators have signalled a sell. The daily relative strength index (RSI) is hovering in the bearish zone and weekly RSI is slipping towards this zone in the neutral region. Considering the stock's recent breakthrough of key support level we are bearish on it from a short-term perspective. We anticipate it to decline until it hits our price target of Rs 74.5. Traders with short-term perspective can consider selling the stock while maintaining stop-loss at Rs 87.5.

via BL

SGX Nifty Live Update - Jan 28 2010

4,874.50 +39.50