Container Corporation

Container Corporation

Turnover rises

RIL February 2010 futures at premium

Nifty February 2010 futures were at 4,766.90, at a premium of 6.50 points as compared to the spot closing of 4,760.40. Turnover in NSE's futures & options (F&O) segment increased to Rs 93,132.53 crore from Rs 90,464.62 crore on Friday, 5 February 2010.

Reliance Industries (RIL) February 2010 futures were at premium at 994.45 compared to the spot closing of 990.70.

Tata Motors February 2010 futures were at discount at 672.90 compared to the spot closing of 676.55.

Tata Steel February 2010 futures were near spot price at 533.70 compared to the spot closing of 533.60.

In the cash market, the S&P CNX Nifty rose 3.15 points or 0.07% at 4,760.40.

Asian markets end up mixed on Monday

Hang Seng, Nikkei led the losses while Sensex, Sydney edge higher

Stock markets in Asian region managed a mixed closing on Monday, 8 February 2010, as investors looking for direction amid mixed cues. Although concerns about the pace of economic recovery and debt woes in Europe were seen hurting sentiment to an extent, bargain hunting after recent sharp losses was buoying up. However the commodity companies climbed after oil and metal prices increased.

On Wall Street, the Dow staged a furious reversal and topped 10,000 at Friday’s close, overcoming an earlier triple-digit loss. The Dow Jones Industrial Average added 10 points, or 0.1%, to close at 10,012 after giving up as much as 167 points earlier in the session. The S&P 500 advanced by 3 points, or 0.3%, to 1066, as the Nasdaq closed 16 points higher, or 0.7%, at 2141 after spending much of the Friday afternoon in negative territory.

In the commodity market, crude oil rebounded from a seven-week low on speculation demand will improve as the global economy recovers from its worst recession since World War II.

Crude oil for March delivery rose as much as 95 cents, or 1.3%, to $72.14 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It was at $71.44 at 2:40 p.m. in Singapore.

March Brent crude, the pricing benchmark for most African oil grades, rose as much as 85 cents, or 1.2%, to $70.44 a barrel on the London-based ICE Futures Europe exchange. It was at $69.90 at 2:43 p.m. Singapore time.

Gold futures recovered on some bargain hunting as the 3-month low prices allured the investors to buy the commodity. Gold for immediate delivery in London gained for a second day. The metal added 0.3% to $1,069.25 an ounce at 8:16 a.m. London time.

In the currency market, the US dollar and yen are generally firm as the week starts on soft stocks and commodities.

The Japanese yen strengthened against its major counterparts on growing concerns over the global economy after mixed US employment data and on continued worries over financial problems in Europe. Japan’s currency yen was quoted 89.28 against the greenback.

The Hong Kong dollar was trading at HK$ 7.7707 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 against major counterparts on Monday amid lack of major economic data releases in Asia today. Market players fretted about sovereign debt problem in Europe and the health of the global economy. The Australian dollar was quoted at 0.8652 against the greenback.

In Wellington trades, the New Zealand dollar ended its domestic session down from its opening level but above a five-month low, close to US68c, it reached on Saturday. The NZ dollar was at US68.68c at 5pm from US68.94c at 8am and US69.01c at 5pm on Friday. It fell as low US68.03c during the weekend.

The South Korean won ended at 1,171.90 won to the greenback, down 2 won from Friday’s close of 1,169.90.

The Taiwan dollar weakened against the greenback. The Taiwan dollar was trading lower against the US dollar at NT$ 32.1950, 0.0110 down from Saturday’s close of NT$32.1840.

In equities, Asian markets suffered declines on uncertainty over sovereign debt in the euro zone, but bargain-buying in banks and miners limited losses in some markets.

In Japan, the share market falter again on negative terrain, with key Nikkei index closed below 10,000 line for the first time in almost two months, as investors were gripped by the uncertainty about global economy as well as earning performance of Japanese companies amid a stronger yen against major currencies.

At the closing bell, the Nikkei 225 Stock Average index was at 9,951.82, dropped 105.27 points, or 1.05%. The broader Topix of all First Section issues on the Tokyo Stock Exchange dived 8.77 points, or 0.98%, to 883.01.

In economic section, outstanding loans by Japanese banks fell 1.7% in January from a year earlier to 401.6 trillion yen, slowing further from 1.2% in December as firms remained cautious about business plans, Bank of Japan data released on Monday showed. The January drop was the lowest since September 2005, when lending fell 1.8%.

Japan saw a current account surplus of 900.8 billion yen in December, the Ministry of Finance said in a preliminary report on Monday, up 452.8 percent on year. That came following the 1.103 trillion yen surplus in November.

The trade balance showed a surplus of 631.2 billion yen after the 490.6 billion yen surplus in the previous month. Seasonally adjusted, the current account surplus was 1.100.5 trillion yen after the 1.304 trillion yen surplus a month earlier.

In Mainland China, the shares continued last week losses, with key Shanghai Composite index ended a tad lower Monday in thin dealings, as players abandoned riskier assets amid jitters over the health of the global economy, sovereign risk contagion in the euro zone, slowdown in domestic lending growth, and ahead of Lunar New Year holidays next week.

At the closing bell, the Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, fell 4.23 points, or 0.14%, to 2,935.17, while the Shenzhen Component Index on the smaller Shenzhen Stock Exchange recovered 30.20 points, or 0.25%, to 11,947.34. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, sank 0.07%, to 3,150.99.

In Hong Kong, worries over Europe are deepening fiscal woes and monetary tightening on the mainland weighed the key benchmark indices to a five-month low on Monday, 8 February 2010. The sell off was also fueled on unwinding carry trade amid stronger US dollar. At the closing bell, the Hang Seng Index fell 114.19 points, or 0.58%, to 19,550.89, while the Hang Seng China Enterprise, which tracks the overall performance of 43 Mainland Chinese state-owned enterprises on the Hong Kong Stock Exchange, was down 142.59 points, or 1.28%, to 10,989.19.

In Australia, the shares drifted off opening highs to end the day slightly higher, helped by bargain hunters that lift the market from three month lows reached on Friday. Commodity stocks led the rally as other sectors moved either side of the gain line. At the closing bell, the benchmark S&P/ASX200 index was up 7.30 points, or 0.16%, to 4,521.40, meanwhile the broader All Ordinaries rose 6.30 points, or 0.14%, to 4,538.80.

In New Zealand, equities faltered into the negative region again. Although the stocks started the first trading day of the week slightly in the positive terrain following marginal gains on the Wall Street overnight, the NZ equities slipped back into the red region by the close of the session. At the closing today, the NZX 50 lost 0.37% or 11.54 points to 3093.45. Meanwhile, the NZX 15 fell 0.29% or 15.93 points to close at 5576.76.

In South Korea, shares closed lower as bank and financial shares widened their losses on resurfaced concerns about the health of Kumho Asiana Group. The family owners of the cash-strapped Kumho Asiana Group agreed Monday to put up its entire stake in its affiliates as collateral to creditors as they seek to secure the group's survival in return for keeping its management rights, the group's main creditor said.

Kumho’s restructuring process has been put on hold as the family has dragged its feet in taking responsibility for mismanagement by letting a Sunday deadline pass without taking any action. The benchmark Korea Composite Stock Price Index (KOSPI) lost 14.33 points or 0.91% to 1,552.79, extending its losing streak to a second session.

In Singapore, bargain hunters had lifted the Singapore share market up in choppy trade, from three month lows reached on Friday. Gains were attributed to firmer performances from banks and blue chip shares such as SingTel and ComfortDelGro and strong leads from US stock futures and European bourses. Consumer-related shares were firmer on expectations of strong holiday spending during the China Lunar New Year. At the closing bell, the blue chip Straits Times Index was at 2,693.62, gained 10.06 points or 0.37%.

In Taiwan, stock markets started the week on a positive note by inching higher, led by AU Optronics and other LCD makers, as a fall in U.S. unemployment data raised expectations for stronger technology demand. The benchmark Taiex share index inched up on the first day of the week after ending the special trading session of Saturday lower. The benchmark index finished the day little higher by 3.01 points or 0.04% at 7215.88.

On the economic front, Taiwan’s consumer price index (CPI) rose 0.29% over the previous month in January, the rise after 11 consecutive months of decline, underscoring gradual upturn of consumption.

Wholesale price index jumped 6.68% year-on-year in January, the highest since September 2008. Wu Chao-min, section chief at the third bureau of the DGBAS, however, noted that the effect on CPI will be limited, as businessmen tend to bear the extra cost at a time when the pace of economic recovery is still unstable.

Meanwhile, the foreign exchange reserves of the Taiwan amounted to US$350.71 billion at the end of January 2010, showing an increase of US$2.51 billion from the figure recorded at the end of the previous month. According to the central bank, the main factor responsible for the increase in foreign exchange reserves in January 2010 is returns from foreign exchange reserves management.

In Philippines, the stock market extended their slide, with investors looking for direction amid mixed cues. At the final bell, the benchmark index PSEi lost 0.31% or 9.04 points to 2,846.60, while the All Shares index went up 0.05% or 0.93 points to 1,823.49.

In India, key benchmark indices logged marginal gains after swinging sharply either ways in highly volatile trade. The barometer index BSE Sensex had raced above the psychological 16,000 mark in mid-afternoon trade boosted by upbeat start from European markets. The BSE 30-share Sensex was up 19.96 points or 0.13% to 15,935.61. The S&P CNX Nifty was up 3.15 points or 0.07% to 4760.40.

On the economic front, Indian government forecast its economic growth for the fiscal year ended March 2010 at 7.2%, as against 6.7% achieved in the previous fiscal, raising fears of possibility that the government may start to unwind its fiscal stimulus in the forthcoming budget. The advance estimates of the country's gross domestic product released by the Central Statistical Organisation (CSO) today forecasts a growth of 9.9% in services and 8.9% in manufacturing, the highest among the eight broader economic activities.

Elsewhere, Malaysia’s Kula Lumpur Composite index finished slightly lower at 1235.22 while stock markets in Indonesia’s Jakarta Composite index gave up by 43.40 points ending the day lower at 2475.57.

In other regional market, European shares climbed on Monday, shaking off some losses from last week, as investors bought up shares in the mining sector and worries about debt in Greece, Spain and Portugal appeared to recede. On a regional level, the U.K. FTSE 100 index rose 0.8% or 38.21 points to 5,099, the German DAX index climbed 0.75% or 40.60 points to 5,475 and the French CAC-40 index advanced 1% or 35.47 points to 3,599.

Capital Goods

Capital Goods

Sensex caught in volatility

Today's major news

Listing tastes good for Jubilant Food Works; the stock ends the day 57.93% higher

Madhucon jumps on winning projects; the stock jumps 3.23%

Poly Medicure’s board to consider bonus issue; the stock shoots up 19.98%

Nagarjuna Construction Company secures orders worth Rs583 crore; the stock closes 0.74% lower

Bharat Heavy Electricals Ltd (BHEL) bags Rs1,016 crore order from Bhutan; the stock rises 0.73%.

Click here for more stories

Post-market summary

Global signals

Commodities and banking shares led the European indices bounce back today after Friday’s fall. At the time of writing this report FTSE 100 was up by 0.52%.

All major Asian indices closed lower except Straits Times. Nikkei breached the 10000 level to close at 9952 level. SGX Nifty closed 52 points higher.

The US stock futures opened marginally higher.

Indian indices

Taking mixed leads from Asian indices, the Sensex opened mere 16 points higher. The index was caught in volatility and swung 460 points during the day. After opening marginally higher, the Sensex soon turned negative and touched the day’s low of 15652 after the government revised FY2010 gross domestic product (GDP) estimates at 7.2% that strengthened the possibility of withdrawal of stimulus package in forthcoming budget (due on February 26). However, at noon the Sensex make a smart recovery and crossed the 16000 level and touched the day’s high of 16061. At finishing line the Sensex closed at 15,9369, 20 points higher. Nifty closed at 4760, mere 3 points higher.

Market sentiment

The market breadth, the number of advancing shares to declining shares, was marginally negative. Of the total 2,854 stocks traded on the BSE, 1,329 stocks advanced, whereas 1,444 stocks declined. Eighty-one stocks closed unchanged.

Sectoral & stock screening

Of the 13 sector indices, ten closed higher while three closed lower. Among gainers BSE CG surged the most by 0.56% followed by BSE TECK that advanced 0.56%. On the other hand BSE metal topped the chart of losers with a loss of 1.38%, while BSE Auto and BSE HC fell the most.

On the stocks' front, Chambal Fertilisers surged the most—by 7.15%—followed by Lanco Infratech, which rose 6.35%, and Procter & Gamble that jumped 4.99%. On the losers’ list, Gujarat NRE topped with a loss of 4.89%, followed by Tata Steel, which slid 4.46% and Rural Electrification, which fell by 4.03%.

Viewing volumes

Industrial finance company IFCI saw highest trading with over 0.87 crore shares changing hands on the BSE followed by aluminum major Hindlaco Industries (0.77 crore shares), wind turbine major Suzlon Energy (0.72 crore shares), realty major Unitech (0.71 crore shares) and Ispat Industries (0.55 crore shares).

NSE Bulk Deals to Watch - Feb 8 2010

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
08-FEB-2010,CAROLINFO,Carol Info Services Limit,ASHOKKUMAR PATEL,BUY,400000,56.90,-
08-FEB-2010,DECOLIGHT,Decolight Ceramics Limite,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,88091,12.43,-
08-FEB-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,BUY,6622240,19.06,-
08-FEB-2010,JINDCOT,Jindal Cotex Ltd,CRYSTAL SHELTER PRIVATE LIMITED,BUY,187656,87.22,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,AJAY ASSET MANAGEMENT PRIVATE LIMITED,BUY,393890,212.75,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,ARCHITA C GADA,BUY,343010,211.37,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,ARISAIG INDIA FUND LTD,BUY,560000,208.54,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,BLUE PEACOCK SECURITIES PVT LT,BUY,447000,201.68,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,CAPITAL GROUP - A/C SMALL CAP WORLD FND INC,BUY,1400000,201.15,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,DINESH MUNJAL(HUF),BUY,645542,204.24,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,GENUINE STOCK BROKERS PVT LTD,BUY,1942576,207.35,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,JMP SECURITIES PVT LTD,BUY,450283,222.36,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,KALASH SHARES & SECURITIES PRIVATE LIMITED,BUY,1447644,209.20,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,MANIPUT INVESTMENTS PVT. LTD.,BUY,629406,211.43,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,MARWADI SHARES AND FINANCE LIMITED,BUY,966651,202.98,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,MUKUL RAMVALLABH TIBREWALA,BUY,334294,200.61,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,661126,203.25,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,NEPTUNE FINCOT PVT LTD,BUY,784544,212.06,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,OM INVESTMENTS,BUY,349373,212.12,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,PRASHANT JAYANTILAL PATEL,BUY,432742,214.55,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,R APPALA RAJU,BUY,527000,207.29,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,R.M. SHARE TRADING PVT LTD,BUY,339099,202.75,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,RAHUL DOSHI,BUY,340816,210.35,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,RANDEEP JAIN HUF,BUY,1091812,207.86,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,RELIANCE MUTUL FUND,BUY,985500,188.88,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,SBI MUTUAL FUND-MEF (MMS- 90) (SCHEME 7),BUY,330000,189.90,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,SBI MUTUAL FUND-MGLF (SCHEME 21,BUY,520255,189.90,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,SS CORPORATE SECURITIES LIMITED,BUY,444902,202.54,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,T. ROWE PRICE INTERNATIONAL INC A/C T ROWE PRICE NEW ASIA FU,BUY,526324,199.19,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,TRANSGLOBAL SECURITIES LTD.,BUY,509542,204.73,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,TRIPTI SINGHVI,BUY,773389,198.39,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,YASHWI SECURITIES (P) LIMITED,BUY,331556,205.56,-
08-FEB-2010,KINETICMOT,Kinetic Motor Company Ltd,OBEROI DIMPLE,BUY,207303,29.69,-
08-FEB-2010,RMEDIA,Rel. Media World Ltd,OM INVESTMENTS,BUY,299560,95.58,-
08-FEB-2010,RMEDIA,Rel. Media World Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,336457,96.57,-
08-FEB-2010,SAREGAMA,SAREGAMA INDIA LIMITEDepo,AK SERVICES PRIVATE LIMITED,BUY,77500,69.65,-
08-FEB-2010,SHREEASHTA,Shree Ashtavinayak Cine V,SUMAN,BUY,814658,23.04,-
08-FEB-2010,SOBHA,Sobha Developers Limited,ARANDA INVESTMENTS (MAURITIUS) PTE LTD,BUY,3851407,250.00,-
08-FEB-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,150807,486.41,-
08-FEB-2010,TULSYAN,Tulsyan Nec Ltd,ANGEL GLOBAL CAPITAL PRIVATE LIMITED,BUY,22278,94.58,-
08-FEB-2010,TULSYAN,Tulsyan Nec Ltd,BP FINTRADE PRIVATE LIMITED,BUY,66074,98.67,-
08-FEB-2010,TULSYAN,Tulsyan Nec Ltd,CNB FINWIZ LIMITED,BUY,37493,98.05,-
08-FEB-2010,TULSYAN,Tulsyan Nec Ltd,MATHEW ANITHA,BUY,33960,99.29,-
08-FEB-2010,TULSYAN,Tulsyan Nec Ltd,RAHUL DOSHI,BUY,60117,100.49,-
08-FEB-2010,TULSYAN,Tulsyan Nec Ltd,SETU SECURITIES LTD,BUY,28514,99.78,-
08-FEB-2010,TULSYAN,Tulsyan Nec Ltd,SHILPA STOCK BROKER PRIVATE LIMITED,BUY,25594,97.83,-
08-FEB-2010,TULSYAN,Tulsyan Nec Ltd,SHYAMSUNDER BIYANI,BUY,31763,98.43,-
08-FEB-2010,WWIL,Wire and Wireless (India),VIVEKANANDHAN SUNDARARAJAN,BUY,1125000,17.81,-
08-FEB-2010,CAROLINFO,Carol Info Services Limit,SOLUTIONS FINQUEST FINANCIAL,SELL,274000,56.90,-
08-FEB-2010,CYBERMEDIA,Cyber Media (India) Ltd.,SAL REAL ESTATES (P) LTD,SELL,100000,35.00,-
08-FEB-2010,DECOLIGHT,Decolight Ceramics Limite,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,95091,12.40,-
08-FEB-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,6367481,19.02,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,AJAY ASSET MANAGEMENT PRIVATE LIMITED,SELL,353890,211.75,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,ARCHITA C GADA,SELL,343010,211.63,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,BLUE PEACOCK SECURITIES PVT LT,SELL,257000,199.00,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,DINESH MUNJAL(HUF),SELL,645542,204.03,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,GENUINE STOCK BROKERS PVT LTD,SELL,1942576,207.50,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,JMP SECURITIES PVT LTD,SELL,303673,218.61,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,KALASH SHARES & SECURITIES PRIVATE LIMITED,SELL,1447644,209.36,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,MANIPUT INVESTMENTS PVT. LTD.,SELL,629406,211.65,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,MARWADI SHARES AND FINANCE LIMITED,SELL,966651,203.15,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,MUKUL RAMVALLABH TIBREWALA,SELL,334294,200.45,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,658857,203.29,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,NEPTUNE FINCOT PVT LTD,SELL,784544,212.27,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,OM INVESTMENTS,SELL,349373,212.47,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,PRASHANT JAYANTILAL PATEL,SELL,432742,214.62,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,R APPALA RAJU,SELL,527000,205.32,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,R.M. SHARE TRADING PVT LTD,SELL,339099,203.09,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,RAHUL DOSHI,SELL,315805,211.20,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,RANDEEP JAIN HUF,SELL,1091812,207.81,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,SS CORPORATE SECURITIES LIMITED,SELL,443711,197.59,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,TRANSGLOBAL SECURITIES LTD.,SELL,509542,205.38,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,TRIPTI SINGHVI,SELL,773389,198.43,-
08-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,YASHWI SECURITIES (P) LIMITED,SELL,331556,205.70,-
08-FEB-2010,KINETICMOT,Kinetic Motor Company Ltd,KINETIC ENGINEERING LTD,SELL,150000,29.63,-
08-FEB-2010,KINETICMOT,Kinetic Motor Company Ltd,OBEROI DIMPLE,SELL,57175,31.00,-
08-FEB-2010,MBLINFRA,MBL Infrastructures Ltd,LAIBA INTERNATIONAL PRIVATE LIMITED,SELL,98000,202.43,-
08-FEB-2010,RMEDIA,Rel. Media World Ltd,OM INVESTMENTS,SELL,299560,95.65,-
08-FEB-2010,RMEDIA,Rel. Media World Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,336457,96.42,-
08-FEB-2010,SAREGAMA,SAREGAMA INDIA LIMITEDepo,GOODWILL CAPITAL SERVICES PVT LTD,SELL,77500,69.65,-
08-FEB-2010,SHREEASHTA,Shree Ashtavinayak Cine V,SUMAN,SELL,1075658,23.10,-
08-FEB-2010,SOBHA,Sobha Developers Limited,P N C MENON,SELL,4000000,250.22,-
08-FEB-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,150807,486.75,-
08-FEB-2010,TULSYAN,Tulsyan Nec Ltd,ANGEL GLOBAL CAPITAL PRIVATE LIMITED,SELL,27090,93.56,-
08-FEB-2010,TULSYAN,Tulsyan Nec Ltd,BP FINTRADE PRIVATE LIMITED,SELL,66785,98.59,-
08-FEB-2010,TULSYAN,Tulsyan Nec Ltd,CNB FINWIZ LIMITED,SELL,37493,98.08,-
08-FEB-2010,TULSYAN,Tulsyan Nec Ltd,MATHEW ANITHA,SELL,33960,99.64,-
08-FEB-2010,TULSYAN,Tulsyan Nec Ltd,RAHUL DOSHI,SELL,60117,99.93,-
08-FEB-2010,TULSYAN,Tulsyan Nec Ltd,SETU SECURITIES LTD,SELL,31229,99.59,-
08-FEB-2010,TULSYAN,Tulsyan Nec Ltd,SHILPA STOCK BROKER PRIVATE LIMITED,SELL,25704,97.90,-
08-FEB-2010,TULSYAN,Tulsyan Nec Ltd,SHYAMSUNDER BIYANI,SELL,31764,97.70,-
08-FEB-2010,WWIL,Wire and Wireless (India),VIVEKANANDHAN SUNDARARAJAN,SELL,1125000,17.78,-

BSE Bulk Deals to Watch - Feb 8 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
8/2/2010 530901 ACIL Cot Inds SHREE HARIVANSH SEC PVT LTD S 113000 16.39
8/2/2010 530901 ACIL Cot Inds SREE RAM PLYWOOD MANUFACTURING COMPANY PRIVATE LIMITED S 108000 16.14
8/2/2010 530901 ACIL Cot Inds TODI SECURITIES PVT LTD S 114600 16.10
8/2/2010 532914 Arcotech ARVINDSARAF B 100000 25.00
8/2/2010 532914 Arcotech TEJINDERSINGH S 100000 25.00
8/2/2010 532995 Avon Corp VINOD AMRATLAL NAAI B 529990 10.29
8/2/2010 532995 Avon Corp VINOD AMRATLAL NAAI S 531752 10.17
8/2/2010 531591 Bampsl Sec GIRRAJ PRASAD GUPTA S 374231 1.00
8/2/2010 511607 Birla Shloka MOHAN LAL AGARWAL B 101842 47.42
8/2/2010 511607 Birla Shloka BHAVISH DHIRAJLAL KHAKHKHAR B 120422 46.06
8/2/2010 511607 Birla Shloka MOHAN LAL AGARWAL S 101842 47.26
8/2/2010 511607 Birla Shloka BHAVISH DHIRAJLAL KHAKHKHAR S 120422 46.85
8/2/2010 511607 Birla Shloka DEVKANT SYNTHETICS INDIA PVT. S 150000 46.00
8/2/2010 505923 Ceekay Daikin RAJASTHAN GLOBAL SEC LTD B 219631 169.68
8/2/2010 505923 Ceekay Daikin EDELVALUE PARTNERS B 57924 171.66
8/2/2010 505923 Ceekay Daikin GLOBE CAPITAL MARKET LIMITED B 119034 169.69
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8/2/2010 505923 Ceekay Daikin VIMESH ZAVERI S 60000 172.00
8/2/2010 505923 Ceekay Daikin MONICA VIMESH ZAVERI S 20347 172.00
8/2/2010 505923 Ceekay Daikin GANDHI TARUN S 32833 170.05
8/2/2010 511672 Clarus Finance SANJEEV KUMAR S 16580 11.61
8/2/2010 532363 Compulearn SANJAY ARJUNDASNIL WADHWA S 70000 19.74
8/2/2010 522231 Conart Engr SRIDEVI.MEDABALMI S 15005 35.23
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8/2/2010 524276 Dujodwala Paper INDO INVEST VISION LIMITED B 40000 12.89
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8/2/2010 504351 Empower Inds MANMOHAN RATHI B 150000 25.34
8/2/2010 504351 Empower Inds A S STOCK BROKING AND MANAGEMENT PVT LTD B 100000 25.98
8/2/2010 504351 Empower Inds KAUSHIK GANGARAM RATHOD S 78150 22.31
8/2/2010 504351 Empower Inds JIGNESH CHANDRAKANT SHAH S 137869 22.26
8/2/2010 504351 Empower Inds SANJAY GOYAL S 156720 22.68
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8/2/2010 590024 Fert & Chem Trv TRANSGLOBAL SECURITIES LTD. B 56444 62.20
8/2/2010 590024 Fert & Chem Trv LATIN MANHARLAL SEC.PVT.LTD. B 32366 62.18
8/2/2010 590024 Fert & Chem Trv LATIN MANHARLAL SEC.PVT.LTD. S 32366 62.38
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8/2/2010 533155 JUBL FOOD MATRIX EQUITRADE PRIVATE LIMITED LIMITED B 684692 209.82
8/2/2010 533155 JUBL FOOD GENUINE STOCK BROKERS PVT. LTD. B 1621616 205.62
8/2/2010 533155 JUBL FOOD SMART EQUITY BROKERS PRIVATE LIMITED B 1689616 208.68
8/2/2010 533155 JUBL FOOD TRANSGLOBAL SECURITIES LTD. B 479037 205.54
8/2/2010 533155 JUBL FOOD CAPITAL GROUP AC SMALL CAP WORLD FND INC B 750000 201.70
8/2/2010 533155 JUBL FOOD ARISAIG INDIA FUND LTD B 560000 209.98
8/2/2010 533155 JUBL FOOD JMP SECURITIES PVT LTD B 605969 218.23
8/2/2010 533155 JUBL FOOD RELIANCE CAPITAL TRUSTEE CO LTD B 632000 188.33
8/2/2010 533155 JUBL FOOD R M SHARES TRADING PRIVATE LIMITED B 330863 203.08
8/2/2010 533155 JUBL FOOD MARWADI SHARES AND FINANCE LTD. B 798279 204.04
8/2/2010 533155 JUBL FOOD EUREKA STOCK & SHARE BROKING SERVICES LTD B 470708 210.89
8/2/2010 533155 JUBL FOOD SANJEEV SINGHAL B 393654 208.54
8/2/2010 533155 JUBL FOOD OPG SECURITIES P LTD B 3236716 207.59
8/2/2010 533155 JUBL FOOD OPG SECURITIES P LTD S 3236716 207.69
8/2/2010 533155 JUBL FOOD MARWADI SHARES AND FINANCE LTD. S 798279 204.04
8/2/2010 533155 JUBL FOOD SANJEEV SINGHAL S 393654 208.75
8/2/2010 533155 JUBL FOOD EUREKA STOCK & SHARE BROKING SERVICES LTD S 470708 211.00
8/2/2010 533155 JUBL FOOD JMP SECURITIES PVT LTD S 518800 217.19
8/2/2010 533155 JUBL FOOD R M SHARES TRADING PRIVATE LIMITED S 330863 202.94
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8/2/2010 533155 JUBL FOOD GENUINE STOCK BROKERS PVT. LTD. S 1621616 205.61
8/2/2010 533155 JUBL FOOD MATRIX EQUITRADE PRIVATE LIMITED LIMITED S 684692 210.16
8/2/2010 505190 Kinetic Motor KINETIC ENGINEERING LTD S 250000 29.21
8/2/2010 531602 Koffee Break SWAMINATH R TIWARI S 414000 2.18
8/2/2010 503685 Mediaone Global JAYABALAN MURALIMANOHAR B 83270 92.95
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8/2/2010 531834 Natura Hue Chem CHETAN DOGRA B 30848 32.41
8/2/2010 532986 Niraj Cement DINESH NUWAL HUF B 145588 46.97
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8/2/2010 512097 Oregon Comm PREMILA MAHENDRA SHAH B 12500 188.71
8/2/2010 512097 Oregon Comm SHIVA INVESTMENT B 5000 193.00
8/2/2010 512097 Oregon Comm NEHA VAID B 16777 198.39
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8/2/2010 512097 Oregon Comm HALAN PROPERTIES PRIVATE LTD. S 28075 188.21
8/2/2010 512097 Oregon Comm ASHOK SHIVLAL RUPANI S 14730 175.15
8/2/2010 512097 Oregon Comm CHARU ASHOK RUPANI S 4800 172.48
8/2/2010 532486 Pokarna A.K. SERVICES PRIVATE LIMITED B 55455 75.73
8/2/2010 532486 Pokarna GOODWILL CAPITAL SERVICES PRIVATE LIMITED S 55455 75.73
8/2/2010 530111 Raj Packaging PLATINUMLINE INVESTMENT & TRADING CO LTD B 20000 22.52
8/2/2010 530111 Raj Packaging ASHU BHANDARIASHU BHANDARI S 51050 21.98
8/2/2010 502587 Rama Pulp OMPARKASH GUPTA B 40207 32.99
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8/2/2010 590077 Ranklin Sol SHALU KAPOOR B 36713 57.65
8/2/2010 531033 Regal Entert PUNIT HARISH THAKKAR B 27049 7.37
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8/2/2010 530271 Rich Capital SCOPE VYAPAR PRIVATE LIMITED B 75000 62.10
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8/2/2010 530025 Samyak Intl Naman Securities & Finance Pvt. Ltd. B 19475 28.01
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8/2/2010 530025 Samyak Intl Naman Securities & Finance Pvt. Ltd. S 21299 27.85
8/2/2010 531781 Sapan Chem NILESH KRUSHNA PALANDE S 60100 4.60
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8/2/2010 517214 Spice Mobiles ANGEL INFIN PRIVATE LIMITED S 403628 47.74
8/2/2010 526133 Supertex Inds JIGESH AMRUTLAL HIRANI B 624386 3.38
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8/2/2010 512257 Swasti Vinay Gem SAURABH KUMARRASIKLALGANDHI S 193239 4.82
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8/2/2010 513629 Tulsyan NEC TRANSGLOBAL SECURITIES LTD. B 27002 94.25
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8/2/2010 513629 Tulsyan NEC BP FINTRADE PRIVATE LIMITED S 116093 97.73
8/2/2010 526879 UT INDO INVEST VISION LIMITED B 40000 14.14
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8/2/2010 526755 Velan Hotels INDU NILKANTH DATE S 40000 42.00
8/2/2010 531249 Well Pack Papers PANDYA YAMINIBEN M B 29735 426.14
8/2/2010 531249 Well Pack Papers SHREEDHAR YELLAIAH KODAM B 24500 428.05
8/2/2010 531249 Well Pack Papers SANDEEP GOMASE B 22801 426.24
8/2/2010 531249 Well Pack Papers SANDEEP GOMASE S 22801 425.92
8/2/2010 531249 Well Pack Papers NIOL IMPEX PRIVATE LIMITED S 33800 426.14
* B - Buy, S - Sell

Jubilant Foodworks ends with 58% premium

At Rs 229 on the BSE

Shares of Jubilant Foodworks closed at Rs 229 on the BSE, a premium of 57.9% over the initial public issue price of Rs 145 per share.

The stock debuted at Rs 161.60, a premium of 161.60% over the initial public issue price. On BSE, 3.17 crore shares were traded on the counter. The stock hit a high of Rs 241.95 and a low of Rs 161.60.

At the closing price of Rs 229, the stock discounts the year ended March consolidated EPS of Rs 1.1 by a PE multiple of 208.18.

The initial public offer (IPO) of fast-food chain Jubilant Foodworks closed on 20 January 2010, with an oversubscription of 31.11 times. While the institutional investors subscribed 9.89 times the shares on offer, retail investors took only 24% of their allotment.

On 15 January 2010, Jubilant Foodworks said it received bids for 30.6 lakh shares at Rs 145 per share towards the anchor investor portion of the offer. The anchor investors to whom equity shares have been allocated pursuant to the offer include Arisaig Partners, Blackrock, Canara Robeco Mutual Fund, Fidelity, Franklin Templeton, HSBC, Reliance Mutual Fund, SBI Mutual Fund, T Rowe Price and Ward Ferry.

Jubilant Foodworks, the exclusive franchisee for Domino's Pizza chain in India, plans to use the funds to prepay term loans and for other general corporate purposes.

The company currently operates over 280 Domino's Pizza outlets across 59 cities in the country. It also has five outlets through sub-franchisee in Sri Lanka and is looking at establishing presence in Nepal and Bangladesh.

The company reported net profit of Rs 6.74 crore on net sales of Rs 280.61 crore in the half-year ended September 2009.

Market clocks small gains in a choppy trade

Key benchmark indices logged marginal gains after swinging sharply either ways in what was a highly volatile trading session. The BSE 30-share Sensex rose 19.96 points or 0.13%, up close to 285 points from the day's low and off close to 125 points from the day's high. The barometer index BSE Sensex had raced above the psychological 16,000 mark in mid-afternoon trade boosted by upbeat start from European markets but ultimately settled below that level.

Metal pivotals remained subdued as metal prices fell on the London Metal Exchange on Friday, 5 February 2010. Telecom stocks advanced on bargain hunting. Auto stocks were mixed. Index heavyweight Reliance Industries staged a sharp recovery on bargain hunting. The market breadth was negative. Fast food chain operator Jubilant FoodWorks surged on its debut. The stock settled at Rs 229, a 57.93% premium over an issue price of Rs 145 a piece.

Rising fears of possibility that the government may start to unwind its fiscal stimulus in the forthcoming budget triggered a sell-off on the bourses earlier in the day. Moreover, the recent European fiscal woes, rising US jobless claims and China holding back the bank lending also played the spoilsport.

While fears over possible sovereign defaults in Greece, Portugal and Spain gripped global markets, the possibility of a contagion to other European economies causing a double-dip recession worsened the mood. Credit default swaps in several European countries are on the rise, indicating a certain lack of reliability on government debt.

Back home, equities have been in a tailspin recently following unwinding of dollar carry trade, muted expectations in the run-up to the Union budget 2010-11 and concerns over valuations.

Government today forecast its economic growth for the fiscal year ended March 2010 at 7.2%, as against 6.7% achieved in the previous fiscal, raising fears of possibility that the government may start to unwind its fiscal stimulus in the forthcoming budget. The advance estimates of the country's gross domestic product released by the Central Statistical Organisation (CSO) today forecasts a growth of 9.9% in services and 8.9% in manufacturing, the highest among the eight broader economic activities.

Mining and quarrying comes next with an 8.7% expansion followed by 8.3% for trade, hotels, transport and communications, and 8.2% each for energy and water, and social and community services.

Earlier, Reserve Bank of India Governor Duvvuri Subbarao on 29 January 2010 raised India's growth forecast to 7.5% in the year ending March 2010 and said the central bank will target inflation in the next few months. He estimated inflation to accelerate to 8.5% from 6.5% forecast earlier.

The government will announce the industrial output data for the month of December 2009 on Friday, 12 February 2010. The industrial output rose 11.7% in November 2009. Also inflation numbers in the week ended 30 January 2010 will be out on Thursday. Stock markets remains shut on Friday on account of Mahashivratri.

Chairman of the prime minister's economic advisory council C. Rangarajan on Friday said the government is no hurry to roll back economic stimulus measures in one go. He also said that efforts will be made in the budget later this month to lower the fiscal deficit. It has been pointed out repeatedly that the process of exit must be gradual, coordinated and must not be sudden, should not disrupt the economy and efforts will be made to bring down the fiscal deficit in the coming budget, Rangarajan said.

India can gradually start raising interest rates as Asia's third-largest economy is among the first to recover after the global financial crisis, the International Monetary Fund (IMF) said in a report published on 4 February 2010 on its website. India's economy is one of the first in the world to recover and the central bank should take a gradual approach to ensure the recovery reaches its full potential, the IMF report said.

Following rising prices of potato and pulses, food inflation rose to 17.56% in the week ended 23 January 2010 from 17.40% in the previous week, government data released on Thursday showed. The inflation for primary articles, which include food and non-food items, marginally eased to 14.56% in the reporting week from 14.66% in the previous week. The fuel price index rose 5.88%.

The farm output in the year to March 2010 will be better-than-expected and could lead to a softening of food prices, Montek Singh Ahluwalia, deputy chairman of the Planning Commission, said today. Ahluwalia also said India's economy was expected to grow at over 8 percent in the 2010/11 financial year.

Pronab Sen, the country's chief statistician, said last week the government should wait till May to roll back stimulus, as the strength of the demand recovery visible in available data may not be for real, pulling the finance minister, Pranab Mukherjee, away from a policy direction which the Reserve Bank of India (RBI) desires.

European equities rebounded on Monday from three-month lows in the previous session, with stronger commodity prices boosting energy and mining shares. Key benchmark indices in Germany , France, UK were up by between 0.07% and 0.38%.

Asian stocks declined in volatile trade today, 8 February 2010, with Japanese Nikkei hitting a 2-month low weighed by exporters. The key benchmark indices in China, Japan, Indonesia, Hong Kong, and South Korea were down by between 0.14% to 1.72%. Indices in Taiwan and Singapore rose 0.04% and 0.37% respectively

US markets had closed slightly higher on Friday, 5 February 2010 as US unemployment rate surprisingly fell to a five-month low. The Dow Jones Industrial Average staged a sharp pullback in late trade to erase a 167-point drop in the final hour of trading on speculation the European Union may propose a solution for Greece's budget deficit. The Dow Jones Industrial Average gained 10.05 points, or 0.1%, to 10012.23. The Nasdaq Composite Index was up 15.69 points, or 0.74%, to 2141.12. The Standard & Poor's 500 Index was up 3.08 points, or 0.29%, to 1066.19.

The US unemployment rate surprisingly fell to a five-month low of 9.7% in January 2010 and factory payrolls grew for the first time since 2007, hinting at a labour market recovery even though the economy lost 20,000 jobs.

According to EPFR Global, that tracks foreign inflows, emerging market equity funds lost $1.6 billion in weekly withdrawals, the biggest outflows in 24 weeks. The report further added that investors pulled out almost $1 billion from global emerging market stock funds in the week ended 3 February 2010, the most in more than a year.

Trading in US index indicated the Dow could rise 44 points at the opening bell on Monday, 8 February 2010. Dow futures regained strength after turning negative earlier during the day.

The Group of Seven (G-7) leading industrial nations will continue their economic stimulus policies, G-7 ministers said after wrapping up two days of talks in northern Canada on 7 February 2010.

Finance ministers and central bankers from leading industrial nations held two days of talks as fresh market turmoil cast doubt on a fragile global economic recovery.

Back home, as regards government's divestment plan, Rural Electrification Corporation (REC) will be the next Government- owned entity to come out with a follow-on public offer (FPO). Its 17.1-crore share FPO will open on 19 February 2010 and will close on 23 February 2010. This will be followed by NMDC's FPO.

As per reports, in the next fiscal, the Government is likely to divest its stake in state-run firms such as Engineers India, Coal India through initial public offers (IPOs) and Power Grid and Sail through FPOs.

The BSE 30-share Sensex rose 19.96 points or 0.13% to 15,935.61. The Sensex lost 263.66 points at the day's low of 15,651.99 in mid-morning trade. The index rose 145.76 points at day's high of 16,061.41 in mid-afternoon trade.

The S&P CNX Nifty rose 3.15 points or 0.07% to 4760.40. Nifty February 2010 futures were at 4,766.90, at a premium of 6.50 points as compared to the spot closing of 4,760.40. Turnover in NSE's futures & options (F&O) segment increased to Rs 93,132.53 crore from Rs 90,464.62 crore on Friday, 5 February 2010.

The market breadth, indicating the overall health of the market, turned negative. Breadth gyrated between positive and negative for multiple instances during the day. On BSE, 1447 shares declined as compared with 1325 that declined. A total of 82 shares remained unchanged.

From the 30-member Sensex pack, 16 gained while the rest declined.

The total turnover on BSE amounted to Rs 4018 crore

The BSE Mid-Cap index fell 0.09% and the BSE Small-Cap index fell 0.08%. Both the indices underperformed Sensex.

Telecom stocks advanced on bargain hunting after the recent fall which was materialized following reports which indicated that the 3G spectrum auction will be delayed till the next fiscal.

India's largest cellular services provider by sales Bharti Airtel gained 2.7%. India's second largest cellular services provider by sales Reliance Communications rose 2.21%.

India's largest FMCG company by sales Hindustan Unilever advanced 1.75% on reports the company may make a modest product price hike rise in the second half of year 2010.

Among other FMCG stocks, Dabur India, Nestle India and United Spirits rose by between 0.49% to 4.27%.

IT stocks fell on mixed economic data. US is the biggest market for Indian IT firms. India's third largest software services exporter Wipro shed 1.74%. As per recent reports, Wipro Consumer Care and Lighting, the FMCG arm of Wipro, is in advanced talks to buy Nigeria-based skincare company, Tura International.

India's largest IT exporter by sales Tata Consultancy Services fell 0.74%. Reportedly TCS' Passport Seva Project, which aims to issue passports in flat three days, is all set to be launched in a week or two.

But, India's second largest IT exporter by sales Infosys rose 0.87%.

The National Association of Software and Service Companies (Nasscom) last week has projected export revenue to grow 13% to 15% to $56-$57 billion in the year to March 2011, below the previous outlook for $60-$62 billion.

Index heavyweight Reliance Industries (RIL) rose 0.27% to Rs 996.35, recovering from day's low of Rs 976. As per reports, RIL has submitted a $2 billion expression of interest for Value Creation Inc, a Canada-based private firm which holds oil sands assets.

India's largest power utility firm by sales NTPC fell 1.29%. The company's follow on public offer managed to scrape through with the issue getting subscribed 1.2 times. The issue, through which the government is divesting 5% of its stake, at a floor price of Rs 201 a share, opened on 3 February 2010 and closed on 5 February 2010. At the floor price, the follow-on-public offer (FPO) is valued at Rs 8,286 crore.

Among other power stocks, Torrent Power, Tata Power Company and Reliance Power fell by between 1.19% to 1.46%.

India's top power equipment maker by sales Bharat Heavy Electricals rose 0.73% after winning a contract worth Rs 1016 crore to build a 1,200 megawatts hydro power plant in Bhutan. The announcement was made during trading hours today, 8 February 2010.

Among other capital goods stocks, Larsen & Toubro, ABB, BEML and Greaves Cotton rose by between 0.73% to 2.47%.

Auto stocks were mixed. India's top two-wheeler maker by sales Hero Honda Motors rose 1.48%. India's largest tractor maker by sales Mahindra and Mahindra (M&M) moved up 1.83%. While India's top small car maker by sales Maruti Suzuki India remained unchanged at Rs 1370

But, India's top truck maker by sales Tata Motors declined 1.01%. India's largest car maker by sales Maruti Suzuki India fell 0.21%.

Banking stocks rose on bargain hunting after recent fall. India's largest private sector bank by net profit ICICI Bank rose 0.38%. The bank's American depository receipt, or ADR fell 3.54% to $33.54 on the New York Stock Exchange on Friday, 5 February 2010. India's largest bank by net profit and branch network State Bank of India rose 1.14%.

But, India's largest private sector bank by net profit HDFC Bank lost 0.44%.

Metal stocks declined after LMEX, a gauge of six metals traded on the London Metal Exchange, lost 2.53% on Friday, 5 February 2010. India's largest private sector aluminium maker by sales Hindalco Industries slumped 3.75%.

India's largest private sector steel maker by sales Tata Steel lost 4.46%. The company's steel sales from its Indian operations rose 9% to 5.56 lakh tonnes in January 2010 over January 2009. The announcement was made after market hours on Friday, 5 February 2010.

The Indian operations account for about a quarter of the group's total annual capacity of 3 crore tonnes, which includes unit Corus, Europe's second-largest steelmaker.

JSW Steel, Steel Authority of India, National Aluminium Company and Jindal Steel & Power fell by between 0.16% to 0.92%.

Realty stocks also rose on bargain hunting after a recent sharp fall. Unitech, Omaxe, Indiabulls Real Estate and Parsvanath Developers rose by between 0.38% to 4.06%.

Fast food chain operator Jubilant FoodWorks surged on its debut. The stock settled at Rs 229, a 57.93% premium over an issue price of Rs 145 a piece. The stock debuted at Rs 161.60 on BSE. It had raised Rs 329 crore through initial share sale last month.

Jubilant FoodWorks clocked highest volume of 3.17 crore shares on BSE. Cals Refineries (2.55 crore shares), IFCI (0.87 crore shares), Hindalco Industries (0.77 crore shares) and Suzlo Energy (0.72 crore shares) were the other volume toppers in that order.

Jubilant FoodWorks clocked the highest turnover of Rs 727.16 crore on BSE. Tata Steel (Rs 234.75 crore), Reliance Industries (Rs 130.07 crore), State Bank of India (Rs 116.25 crore) and Hindalco Industries (Rs 105.69 crore) were the other turnover toppers in that order.

Hathway Cable & Datacom IPO Analysis

In a highly competitive and capital intensive business

Due to the nature of business, the company continues to make losses in spite of being one of the oldest players in the analogue cable industry and the largest player in cable broadband

Hathway Cable & Datacom (Hathway), promoted by the Rahejas, is the leading cable television services provider in India as well as one of the leading cable broadband services providers The company offers analog and digital cable television services across 125 cities and towns and high-speed cable broadband services across 18 cities. The company owns and operates cable networks that reach approximately 8 million cable homes across India, supported by 71 analog head-ends, 19 digital head-ends and more than approximately 15,000 km of HFC network. The Company has acquired interest in more than 21 multi systems operators (MSO) and independent cable operators (ICO).

As of November 30, 2009, Hathway had 13,47,491 subscribers for its analog cable television services and 10,02,482 digital cable television subscribers, 2,59,392 Conditional Access System (CAS) subscribers and 7,43,090 voluntary subscribers. As of November 30, 2009, it had a total of 16,06,883 paying subscribers, which comprised the 13,47,491 analog subscribers and 259,392 CAS digital subscribers. As of December 31, 2008, its digital television subscriber base constituted approximately 42% of the total digital cable television market in India (Source: MPA Report).

In addition, the company had 3,22,135 broadband subscribers as of November 30, 2009. As per the company, it is currently India's largest cable broadband services provider, with 9,64,383 two-way broadband enabled homes passed, as on November 30, 2009. As of December 31, 2008, the subscriber base constituted approximately 54% of the total cable broadband market in India (Source: MPA Report).

In addition to its cable television and broadband service offerings, the company also generates advertising and airtime revenue from advertisements aired for and on behalf of channels owned by third parties, such as the Hindi movie channel, "Cine Channel", and the music channel, "iTV".

The issue includes fresh issue of shares as well as offer for sale by existing shareholders. Monet, holding 162.96 lakh shares at an average cost Rs 162.45 per share, is selling 72.10 lakh shares and its post issue share holding would be 90.86 lakh shares (6.36% of post issue share capital). Morgan Stanley Principal Investments Mauritius (MSPI), holding 46.41 lakh shares (on conversion of convertible debentures) at an average cost of Rs 212.80 per share, is selling 5.40 lakh shares and its post issue share holding would be 41.01 lakh shares (2.87% of post issue share capital).

The net proceeds of the issue would be utilized to acquire MSOs and local cable operators (LCO), development of digital cable television infrastructure & services, development of cable broadband services, repayment of debt and general corporate purposes.

Strengths

* As per FICCI KPMG Report 2009, the Media & Entertainment Industry is projected to grow at a CAGR of 12.5% over CY2009–13 to Rs 1052 billion by end CY 2013. The Television industry is expected to grow at CAGR of 14.5% over CY 2009–13 to Rs 472.6 billion. As per Pricewaterhouse Coopers (PWC)'s India Entertainment & Media Outlook 2009 Report, the TV distribution segment grew at CAGR of 18.8% to Rs 150 billion over CY2004-2008, contributing to 60% of the total television industry revenue of Rs 244.7 billion for CY2008. The television industry expected to grow at CAGR of 11.4% over CY2009 – 13 to Rs 420 billion. The distribution pie is expected to grow at CAGR of 10.8% to Rs 250 billion by end CY2013.

* The number of TV owning households would grow to 149 million by end CY2013. The cable households would increase from 72 million in CY2008 to 90 million in CY2013. Of this, the number of digital cable homes would increase from 2 million in CY2008 to 35 million in CY2013. The increased adoption of digitization would mean higher declaration leading to higher revenues.

* There were 623,000 cable broadband internet subscribers, or 11.3% of total Indian broadband internet subscribers, in India in 2008. The MPA Report 2009 predicts that the number of cable broadband internet subscribers will increase to approximately 2.30 million, or 16.5% of all Indian broadband internet subscribers, by CY2013.

Weaknesses

* The television distribution is highly competitive and is often subject to rapid and significant changes in the marketplace, technology and regulatory and legislative environments. The market is very fragmented with approximately 50,000 LCOs and 1,000 MSOs. Also, with increased adoption of Direct to Home (DTH) competition has increased further. The DTH subscriber base is expected to grow from 10 million in CY2008 to 28 million in CY2013.

* The cable distribution industry is prone to under-reporting by LCOs of the number of their subscribers thereby impacting revenues and results of operations.

* LCOs are the "last mile" link that connects the company's cable lines to the homes of the subscribers. The affiliation agreements are typically valid for a period of one year. However, an LCO may terminate the agreement on 30 days' notice. Also, the service quality of LCOs would also impact the subscriber preference.

Valuation

The company has seen good growth in revenues and operating profit over the last four years. Revenue reported a CAGR of 34.5% over FY2005 to FY2009 and operating profit improved from a loss of Rs 6.79 crore to a profit of Rs 93.9 crore, a margin of 14.2%. Though, the revenue for the six months ended September 2009 has been slower, the operating margin improved further to 19.1%. The company has seen a drop in both paid cable subscriber base and cable broadband base in the nine months ended December 2009. As per the management, the dip in cable subscriber base is mainly due to transitioning at a location from non-CAS to CAS. However, this could be taken an indicator of competition intensifying in the sector from competing players and competing platforms like DTH.

At issue price of Rs 240 – Rs 265, EV/sales as of March 31, 2009 comes to 5.3 – 5.5 times. Annualizing six months' financials, the EV/sales drops to 4.6 – 5 times. Den Network, which was listed in November 2009, has an EV/sales of 2.8 times on nine months' annualized basis. Wire & Wireless (India) is trading at EV/sales of 3.8 times on TTM basis.

Among the three companies, Hathway and Den Networks are positive at the operating level. On annualised EV/EBITDA, Hathway is trading at 24.2 – 26.2 times, whereas Den Network is trading at 29.3 times. Den Networks is a three-year old company, whereas Hathway has a long history in the cable business. It is also the leader in cable broadband services, whereas Den Networks is setting up its cable broadband service.

SGX Nifty Pre Market - Feb 8 2010

4,707.00 +3.50

Grey Market Premiums - Feb 8 2010

Company Name	Offer Price (Rs.)	Premium (Rs.)	Kostak (Rs. 1 Lac Application)
Jubilant Food Works	145	18 to 20	--
Aqua Logistics	220	2 to 3	--
Syncom Healthcare	75	8 to 9	--
Thangamayil Jewellery	75	2 to 3	--
Vascon Engg.	165	7 to 8	--
D. B. Realty	468	8 to 10	--
Emmbi Polyarns	40 to 45	2 to 2.50	--
NTPC (FPO)	201	4 to 5	--
ARSS Infrastructure Projects	410 to 450	40 to 45	1900 to 2100
Hathway Cable & Data Comm.	240 to 265	14 to 15	1800 to 2000
REC (FPO)	--	--	--

Sensex to open marginally lower

Headlines for the day

ADAG firm puts spanner in Fame-INOX deal - Business Standard

Kingfisher Airlines hires US firm to revamp operations - Business Standard

NTPC hopes to start on 500-Mw project in Sri Lanka by Feb-end - Business Standard

Pipavav Shipyard to increase headcount to 8,500 in 3 yrs - Business Standard

Inox offer to buy 20% more in Fame from 1 Apr - Business Line

Events for the day

Major corporate action:

ARSS Infrastructure Projects Ltd IPO opens today

Listing of Jubilant Foodworks Ltd

Ex-date for consolidation of shares of Ras Extrusions & Ras Pro Lamipeck

Ex-date for Reduction of capital of Ras Extrusions & Ras Pro Lamipeck

Ex-date foe bonus shares of Super Tannery in the ratio of 1:2

Ex-date foe bonus shares of VST Tillers in the ratio of 1:2

Pre-market report

Global signals

On Friday, The European stocks closed lower on third consecutive day. FTSE 100 closed 1.53% lower at 5061.

The US markets closed higher on Friday, as jobless rate decline. Nasdaq closed 0.74% higher.

In today's trade, All the Asian indices are trading in negative zone except Straits Times that up marginally. At the time of writing this report SGX Nifty trading marginally higher by 8 points.

Indian markets

Indian market may open flat and remain volatile on the back of weak Asian global indices.

Among the local indices, the Nifty could test the 4800-4850 range on the up side, while on the down side it could find support at 4700 and 4750. While the Sensex is likely to get support at 15600 and may face resistance at 16100.

Indian ADR's

Among the Indian ADRs trading on the US bourses, all the ADRs were closed lower, except Infosys and Dr. Reddy. Among laggards Rediff fell the most with loss of 7.27%.

Commodity cues

In the commodity space, wherein the Crude oil prices recorded marginal rise, with the Nymex light crude oil for March series rose by $0.45 to settle at $71.64 a barrel.

In the metals space, Comex Gold for April series decline by $9.50 to settle at $1053.50 to a troy ounce.

In the metals space, Comex Silver for March series down by $0.47 to settle at $14.88 to a troy ounce.

Daily trend of FII/MF investment in equities

On February 05, 2010, FIIs were the net sellers of the Indian Stocks in the tune of Rs42.50 crore (with the gross purchase of Rs1741.60 crore and gross sales of Rs1784.10 crore).

While the Domestic mutual funds, on February 04, 2010, were the net sellers of the stocks in the tune of Rs296.20 crore (with gross purchase of Rs561.70 crore and gross sales of Rs857.90 crore).

Market to open little higher

The market may see a flat-to-positive start, extending Saturday's rise, on follow-up buying. The S&P CNX Nifty futures for February 2010 expiry were trading 11.50 points higher in Singapore. Asian markets were trading mixed today. However, volatility may remain high as investors may remain cautious over sovereign debt problems in the euro zone.

The key benchmark indices jumped during the 90-minutes special trading session held on Saturday, 6 February 2010, tracking a strong intraday rebound of US stocks on Friday, 5 February 2010. The US unemployment rate surprisingly fell to a five-month low in January 2010, data showed on Friday. The BSE 30-share Sensex rose 124.72 points or 0.79%.

US markets had closed slightly higher on Friday, 5 February 2010 as US unemployment rate surprisingly fell to a five-month low. The Dow Jones Industrial Average staged a sharp pullback in late trade to erase a 167-point drop in the final hour of trading on speculation the European Union may propose a solution for Greece's budget deficit. The Dow Jones Industrial Average gained 10.05 points, or 0.1%, to 10012.23. The Nasdaq Composite Index was up 15.69 points, or 0.74%, to 2141.12. The Standard & Poor's 500 Index was up 3.08 points, or 0.29%, to 1066.19.

The US unemployment rate surprisingly fell to a five-month low of 9.7% in January 2010 and factory payrolls grew for the first time since 2007, hinting at a labour market recovery even though the economy lost 20,000 jobs.

Asian stocks fluctuated today as electronics makers fell on lower earnings, while commodity companies climbed after oil and metal prices increased. The key benchmark indices in China, Hong Kong, Japan and South Korea were down by between 0.07% to 0.49%. However indices in Singapore and Taiwan were up 0.29% and 0.15% respectively.

Back home, the Centre of Statistical Organization (CSO) will on Monday 8 February 2010 release the advance estimates of GDP growth for 2009-10. It will be based on the provisional data for the first half of the year and partial data for third quarter and no data on the fourth quarter, which contributes the highest to the annual Gross Domestic Product. The advance estimate will facilitate in the making of the Union Budget, to be presented in Lok Sabha on 26 February 2010.

The government will announce the industrial output data for the month of December 2009 on Friday, 12 February 2010. The industrial output rose 11.7% in November 2009.

Chairman of the prime minister's economic advisory council C. Rangarajan on Friday said the government is no hurry to roll back economic stimulus measures in one go. He also said that efforts will be made in the budget later this month to lower the fiscal deficit. It has been pointed out repeatedly that the process of exit must be gradual, coordinated and must not be sudden, should not disrupt the economy and efforts will be made to bring down the fiscal deficit in the coming budget, Rangarajan said.

Fast food chain operator Jubilant FoodWorks, which raised Rs 329 crore through initial share sale last month, debut on the bourses today, 8 February 2010. The company would list over 6.36 crore shares on the bourses at an issue price of Rs 145 a piece, the upper end of the price band.

The follow on public offer of the government-run power major NTPC, the first mega public offer of 2010, managed to scrape through with the issue getting subscribed 1.2 times. The issue, through which the government is divesting 5% of its stake, at a floor price of Rs 201 a share, opened on 3 February 2010 and closed on 5 February 2010. At the floor price, the follow-on-public offer (FPO) is valued at Rs 8,286 crore.

As regards government's divestment plan, Rural Electrification Corporation (REC) will be the next Government- owned entity to come out with a follow-on public offer (FPO). Its 17.1-crore share FPO will open on 19 February 2010 and will close on 23 February 2010. This will be followed by NMDC's FPO.

As per reports, in the next fiscal, the Government is likely to divest its stake in state-run firms such as Engineers India, Coal India through initial public offers (IPOs) and Power Grid and Sail through FPOs.

India can gradually start raising interest rates as Asia's third-largest economy is among the first to recover after the global financial crisis, the International Monetary Fund (IMF) said in a report published on 4 February 2010 on its website. India's economy is one of the first in the world to recover and the central bank should take a gradual approach to ensure the recovery reaches its full potential, the IMF report said.

As per provisional figures on NSE, foreign funds sold shares worth Rs 28.45 crore and domestic funds bought shares worth Rs 32.48 crore on Saturday, 6 February 2010.

Following rising prices of potato and pulses, food inflation rose to 17.56% in the week ended 23 January 2010 from 17.40% in the previous week, government data released on Thursday showed. The inflation for primary articles, which include food and non-food items, marginally eased to 14.56% in the reporting week from 14.66% in the previous week. The fuel price index rose 5.88%

Pronab Sen, the country's chief statistician, said on Wednesday the government should wait till May to roll back stimulus, as the strength of the demand recovery visible in available data may not be for real, pulling the finance minister, Pranab Mukherjee, away from a policy direction which the Reserve Bank of India (RBI) desires.

The advance estimates on economic growth for the current fiscal ending March 2010 will be released on Monday. It will be based on the provisional data for the first half of the year and partial data for third quarter and no data on the fourth quarter, which contributes the highest to the annual Gross Domestic Product.

Daily News Roundup - Feb 8 2010

Tata Motors may reopen Nano bookings before December. (BS)

Larsen & Toubro is gearing up to enter the general insurance business with no plans of a foray into the life insurance space. (BL)

Reliance Industries gives a US$2bn acquisition proposal to Canadian oil-sand major Value Creation Inc. (BS)

After an uncertain three days of the NTPC's FPO, the issue was subscribed 1.2x on its last day, according to NSE data. (BL)

Tata Steel, Nippon Steel joint venture plans to invest US$400m to set up an automobile venture in India. (BS)

Mahindra Satyam wins two multi-million dollar contracts in South America to deploy enterprise business systems technology. (DNA)

Indiabulls Group plans to develop a 2500 acre SEZ at Sinnar near Nashik in association with the Maharashtra Industrial Development Corporation. (BS)

Maruti looks to export Ritz to SE Asia, Middle East. (BS)

DLF looks to start construction work of Rs10bn Infopark project in the city by April 1 this year. (BS)

Tata Steel says steel sales from its Indian operations rose 9% in January to 0.6mn tons. (DNA)

US FDA has rapped Ranbaxy's US-based subsidiary, Ohm Labs Inc, for manufacturing an old `unapproved drug'. (FE)

NTPC plans to start on 500MW project in Sri Lanka by February end. (BS)

Maruti to produce over 1mn cars in 2009-10, says Suzuki. (FE)

The Goa bench of the Bombay High Court orders a halt on any activity at DLF’s River Valley project in south Goa on February 1. (ET)

HUL may hike prices by mid-year. (TOI)

Shree Renuka plans to put in final bid for Brazil’s Equipav SA Acucar E Alcool. (ET)

McNally Bharat bags Rs 57-cr orders from Hindalco. (BS)

Istithmar PJSC, Dubai sold entire 13.05% stake in SpiceJet. Reliance Mutual, Birla Mutual and DSP BlackRock — and a FII together bought the offloaded stake. (BS)

TPG looks to acquire a majority stake in Vishal Retail for Rs2.5bn. (BS)

Dishman Pharma receives USFDA nod for producing Active Pharmaceutical Ingredients (API) at its Naroda facility. (BS)

ICICI Prudential investment arm set to buy 40% in residential project of the Ansal API group in Ghaziabad. (BS)

BPCL plans to convert 60 ‘In&Out’ outlets into profit making ventures such as food courts and coffee shops by the next fiscal. (ET)

Inox Leisure purchased an additional 7.21% stake in Fame India through a block deal for Rs127.7mn. (ET)

Kingfisher Airlines hires Seabury Aviation & Aerospace, US to advise on its restructure plans. (BS)

Reliance Media objects to Inox’s Fame acquisition at Rs 44 a share. (ET)

Electrotherm India is looking at exporting its Yobykes to developed countries like the US and in Europe. (BS)

Graphite India has lined up investments of Rs4bn over the next one year for capacity expansions and setting up a thermal power plant in Durgapur, West Bengal. (DNA)

Eveready mulls Rs1.5bn acquisition of a FMCG firm. (FE)

BSNL says that it has rolled out 3G services in 318 cities with 0.9mn subscribers. (BL)

Foreign exchange reserves fell US$1.98bn to US$280.95bn during the week ended January 29. (BS)

PM signals further opening of retail trade to curb price rise. (BL)

Government plans to set up an exclusive Rs30bn pharma fund to promote innovation, R&D in drug discovery. (BL)

Cap on FDI needing cabinet nod raised. (TOI)

The long awaited reform of India’s indirect taxes system is set to get a major fillip, with a broad consensus forming within the finance ministry on a rate of 16% for the proposed GST for both Centre and states combined. (TOI)

The government has decided not to take any fresh initiatives to discuss mergers and acquisitions among public sector banks. (BS)

Happy start, take care!

It is only possible to live happily ever after on a day-to-day basis.

The gains made in Saturday’s special session may not hold much significance due to lack of adequate participation. Nevertheless, the bulls did get a chance to claw their way back after being battered and bruised in the previous two days. That snap-back advance may continue today, at least early in the morning. The rest of the day’s proceedings will hinge on how the external situation evolves.

Don’t be surprised if the market recovers some more ground. Use that pull-back as an exit opportunity, as the market may fall further on a combination of local and global worries. On the whole, the market will be volatile with alternate bouts of rallies and declines. We remain cautious and advise you to stay on guard till the turbulence subsides.

The near-term support for the Nifty is around 4700. The crucial level to watch would be 4640, which represents 200 DMA. A sustained and decisive breach of this level could spell more trouble. On the higher side, the market will face resistance at around 4900-5000 levels. The Nifty has to sustain above 4950 to signal resumption of an intermediate uptrend.

FIIs were net sellers in the cash segment on Saturday at Rs284.5mn on a provisional basis while the local funds were net buyers of Rs324.8mn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers to the tune of Rs320.7mn. As per SEBI figures, the FIIs were net buyers of Rs425mn in the cash segment on Thursday. Mutual Funds were net sellers of just Rs2.96bn in the cash segment on the same day.

Wall Street reverses losses to end higher:

US stocks managed modest gains, ending higher on Friday in the wake of a dramatic comeback in the final hour of trade. The advance was led by the technology space, which has bore the brunt of the recent sell-off. Late gains were also seen in the commodity space.

The Dow Jones Industrial Average erased a 167-point drop in the final hour of trading, on speculation that the European Union (EU) may come to the rescue of Greece in resolving its debt crisis. Oil, gold and copper rebounded, and the dollar pared its gain.

Reversing course after a nearly 170-point drop earlier, the Dow added 10.05 points, or 0.1%, to 10,012.23. The Nasdaq Composite Index rose 15.69 points, or 0.7%, to 2,141.12. The S&P 500 Index gained 3.08 points, or 0.3%, at 1,066.19.

All the three major US indexes touched three-month lows before recovering. A three-session rout had sent the US market to its lowest point since last fall.

Stocks fell sharply in the afternoon as worries about a growing debt crisis in Europe exacerbated uncertainty about the US economic outlook. But the market changed direction as the dollar trimmed bigger gains.

The Dow fell 0.6% on a weekly basis while the S&P 500 lost 0.7% and the Nasdaq shed 0.3% from the week-ago close.

The economic picture is still muddy after the government released a conflicting report on US employment in January. The US unemployment rate fell to 9.7% in January from 10% in December. Economists expected unemployment rate to hold steady at 10%.

But the drop in jobless rate coincided with nonfarm payrolls shedding 20,000 jobs on the month.

The Labor Department released the report before the start of trading. Employers had been expected to add about 15,000 jobs. Employers cut a bigger-than-initially reported 150,000 jobs from their payrolls in December.

In its latest report on employment, the government said that job losses in 2009 were worse than previously reported. Though the government's survey of households found a drop in the unemployment rate the new figures raised concern that the recovering economy may be slow to bring relief for workers.

The January report had some positive signs, including an increase in the work week and an increase in temp agency employment - both of which are seen as leading indicators. But the report also showed that the impact of the recession on the labor market was far worse than initially reported.

Worries about the eurozone caused global investors to dump riskier assets and take refuge in safe havens like the US dollar and government debt. The greenback rose to a more than six-month high versus the euro and also gained against the yen. The dollar's strength then dragged on commodity prices, oil and gold stocks.

Because of the flight to safety, assets that have been benefiting from a weak dollar are getting hit. However, the trend could turn out to be temporary and once the panic goes away, buyers would move back into riskier assets.

US investors are focused on whether there will be a default or bailout in Greece, and how this will affect the euro and the dollar.

COMEX gold for April delivery fell US$10.20 to settle at US$1,052.80 an ounce, after slumping US$49 on Thursday.

US light crude oil for March delivery fell US$1.95 to settle at US$71.19 a barrel on the New York Mercantile Exchange.

Treasury prices rose, lowering the yield on the 10-year note to 3.54% from 3.61% late on Thursday.

Goldman Sachs surprised many on Wall Street by announcing that it is paying CEO Lloyd Blankfein US$9 million in company-restricted stock as his bonus. Blankfein was expected to receive a heftier payment.

Earlier, JPMorgan said that its CEO Jamie Dimon was given a US$16 million bonus last year, in restricted stock and options.

The S&P 500 surged 23% in 2009, and 65% after hitting a 12-year low on March 9 of last year. That momentum propelled stocks into the first half of January. But by the second half of the month, the tone had turned more sour and investors had begun to step back.

Between rally highs hit on Jan. 19 and Friday's lows, the S&P 500 lost 9.2%, getting close to the technical definition of a correction - a loss of 10%.

Toyota's CEO apologized Friday for the recall of 8 million cars. However, he did not announce a new recall of the popular Prius Hybrid, despite reports of brake problems. Earlier, the company said it is also examining the brake systems of the Lexus hybrid vehicles since they used the same system as the 2010 Prius.

Toyota shares gained 3.5%.

European stocks declined for a third day, extending the biggest weekly slump in 11 months, on concerns that efforts by Greece, Portugal and Spain to repair their bleeding balance sheets will hurt the region’s economic recovery.

The Dow Jones Stoxx 600 Index decreased 2.2% to 237.46. On Thursday, the pan-European benchmark suffered its worst one-day fall in three months. And over the course of the week it lost 3.9%, its worst performance since the week ended Feb. 13 2009.

Greece's ASE Composite index lost 3.7 % to 1,878.91, while Spain's Ibex 35 index declined 1% to 10,139.4. Portugal's PSI 20 index fell 1.4% to 7,341.56, down after the Portuguese government on Friday voted to lift spending.

The French CAC-40 index closed down 3.4% at 3,563.76, while the German DAX index declined 1.8% to 5,434.34 and the UK's FTSE 100 index shed 1.5% to 5,060.9. Spain’s IBEX 35 slid 1.4 percent, paring an earlier plunge of 3.2%.

Benchmark indices ended near day’s high as bulls dominated the entire 90-minutes of special trading on Saturday. Realty stocks, which were badly battered in the past couple of sessions, turned out to be among the top gainers, metal stocks too rebounded after recent sharp losses. The Mid-Caps and the Small-Cap stocks also were lapped up during the special trading session.

The BSE Sensex rose 124 points to end at 15,915 while the NSE Nifty added 38 points to end at 4,757.

The session was summoned by the National Stock Exchange which is upgrading the capacity of capital market trading system by implementing horizontally scalable architecture.

Among the 30-components of Sensex, 28 ended in the negative terrain and only Hero Honda Bharti Airtel ended in the red. Among the top gainers were Hindalco, JP Associates, Sterlite, DLF, Infosys and Tata Steel.

Outside the frontline indices, the big gainers in the broader market were Spice Comm, Essar Oil, REI Agro, GMR Infra and Century Tex. On the other hand, losers included P&G, Ackruti City, Indian Bank and Tulip Tele.