Post Market Review - Feb 9 2010
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Tuesday, February 09, 2010
Turnover declines, futures at discount
Nifty February 2010 futures at discount
Nifty February 2010 futures were at 4,788, at a discount of 4.65 points as compared to the spot closing of 4,792.65. Turnover in NSE's futures & options (F&O) segment was Rs 67,880.60 crore, sharply lower than Rs 93,132.53 crore on Monday, 8 February 2010.
Reliance Industries February 2010 futures were at premium at 995.35 compared to the spot closing of 992.25.
Hindalco Industries February 2010 futures were near spot price at 134.55 compared to the spot closing of 134.10.
Tata Steel February 2010 futures were near spot price at 533.50 compared to the spot closing of 533.60.
In the cash market, the S&P CNX Nifty rose 32.25 points or 0.68% at 4,792.65.
Sensex crosses 16000
Today's major news
Bharti Airtel joins race to tap mobile applications market; the stock rises 1.78%
Sadbhav Engineering bags Rs1,225-crore order; the stock closes the day 1.14% lower
Larsen & Toubro bags orders worth Rs582 crore; the stock surges 1.21%
Poly Medicure’s board recommends bonus issue; the stock jumps 3.75%
Goodyear India zooms on de-listing plan; the stock shoots up 20%.
Click here for more stories
Post-market summary
Global signals
The European indices were quoting higher in morning trades led by mining stocks. At the time of writing this report FTSE 100 was trading up 0.50%.
All Asian indices except Nikkei (Japan) closed higher. SGX Nifty closed 19 points higher.
US stock futures opened higher on Tuesday after yesterday’s sharp fall.
Indian indices
Mixed cues from overseas markets saw the Sensex open merely 5 points higher at 15940 but soon turn negative to touch the day’s low of 15863. However, continuous buying in Infosys Technologies and Wipro led the Sensex recover past 16000 levels to touch the day’s high of 16094. The Sensex wrapped the session 106 points higher at 16042 and Nifty closed the session 32 points higher at 4793.
Market sentiment
The market breadth, the number of advancing shares to declining shares, was positive. Of the total 2,881 stocks traded on the BSE, 1,500 stocks advanced, whereas 1,302 stocks declined. Seventy nine stocks closed unchanged.
Sectoral & stock screening
On lack of investor interest, realty and oil and gas shares traded down, BSE Realty 1.21% down and BSE Oil & Gas marginally lower. Information technology (IT) stocks drew investor attention with the BSE IT (up 2.52%), BSE TECk (up 2.09%) and BSE PSU (up 1.67%) gaining the most.
The star stock was Hindustan Copper that was up by 10.00% to be followed by NMDC that surged by 9.30% and Lanco Infratech that rose 6.84%. Gujarat NRE Coke slid the most by 5.56%, followed by Petronet LNG that fell 2.92% and Indiabulls Real Estate that shed 2.84%.
Viewing volumes
Realty giant Unitech was the most actively traded share with over 0.76 crore shares changing hands on the BSE followed by Aluminum major Hindalco Industries (0.63 crore shares), Lanco Infratech (0.56 crore shares), Rashtriya Chemicals and Fertilisers (0.49 crore shares) and industrial finance company IFCI (0.45 crore shares).
BSE Bulk Deals to Watch - Feb 9 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
8/2/2010 530901 ACIL Cot Inds TODI SECURITIES PVT LTD S 114600 16.10
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 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 GLOBE CAPITAL MARKET LIMITED B 119034 169.69
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 GANDHI TARUN S 32833 170.05
8/2/2010 505923 Ceekay Daikin VIMESH N ZAVERI(HUF) S 31253 169.12
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 BHARTI YATIN DOSSA S 51065 170.02
8/2/2010 505923 Ceekay Daikin KUNAL VASHU SUMAYA S 23000 170.04
8/2/2010 505923 Ceekay Daikin AJAY PUKHRAJ BAFNA S 21000 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 DIPAK K SHAH S 35000 35.99
8/2/2010 522231 Conart Engr SRIDEVI.MEDABALMI S 15005 35.23
8/2/2010 512199 Core Projects PRABHAT PROPERTIES PRIVATE LIMITED B 454551 215.44
8/2/2010 524276 Dujodwala Paper INDO INVEST VISION LIMITED B 40000 12.89
8/2/2010 524276 Dujodwala Paper SILICON VALLEY INFOTECH LIMITED S 40000 12.89
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 DILIP NATVARLAL DOSHI S 57047 25.96
8/2/2010 504351 Empower Inds JIGNESH CHANDRAKANT SHAH S 137869 22.26
8/2/2010 504351 Empower Inds KAUSHIK GANGARAM RATHOD S 78150 22.31
8/2/2010 504351 Empower Inds SANJAY GOYAL S 156720 22.68
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 TRANSGLOBAL SECURITIES LTD. S 56894 62.26
8/2/2010 590024 Fert & Chem Trv R B K SHARE BROKING LIMITED S 31884 62.12
8/2/2010 590024 Fert & Chem Trv LATIN MANHARLAL SEC.PVT.LTD. S 32366 62.38
8/2/2010 514167 Ganesh Poly HIMADRI COMMODITIES PRIVATE LIMITED B 100000 39.50
8/2/2010 514167 Ganesh Poly ESSEL INDUSTRIES PRIVATE LIMITED S 105000 39.50
8/2/2010 531439 Goldstone Tech HEMANT MADHUSUDAN SHETH S 103000 38.75
8/2/2010 532658 Indo Asian Fuse PKR HITECH INDUSTRIAL COPORATION LLP B 135000 65.70
8/2/2010 532658 Indo Asian Fuse VPM INDUSTRIAL CORPORATION LLP S 135000 65.70
8/2/2010 533155 JUBL FOOD CAPITAL GROUP AC SMALL CAP WORLD FND INC B 750000 201.70
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 MATRIX EQUITRADE PRIVATE LIMITED LIMITED B 684692 209.82
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 R M SHARES TRADING PRIVATE LIMITED B 330863 203.08
8/2/2010 533155 JUBL FOOD RELIANCE CAPITAL TRUSTEE CO LTD B 632000 188.33
8/2/2010 533155 JUBL FOOD JMP SECURITIES PVT LTD B 605969 218.23
8/2/2010 533155 JUBL FOOD ARISAIG INDIA FUND LTD B 560000 209.98
8/2/2010 533155 JUBL FOOD GENUINE STOCK BROKERS PVT. LTD. S 1621616 205.61
8/2/2010 533155 JUBL FOOD SMART EQUITY BROKERS PRIVATE LIMITED S 1689616 208.85
8/2/2010 533155 JUBL FOOD TRANSGLOBAL SECURITIES LTD. S 479037 205.14
8/2/2010 533155 JUBL FOOD MATRIX EQUITRADE PRIVATE LIMITED LIMITED S 684692 210.16
8/2/2010 533155 JUBL FOOD MARWADI SHARES AND FINANCE LTD. S 798279 204.04
8/2/2010 533155 JUBL FOOD EUREKA STOCK & SHARE BROKING SERVICES LTD S 470708 211.00
8/2/2010 533155 JUBL FOOD SANJEEV SINGHAL S 393654 208.75
8/2/2010 533155 JUBL FOOD OPG SECURITIES P LTD S 3236716 207.69
8/2/2010 533155 JUBL FOOD R M SHARES TRADING PRIVATE LIMITED S 330863 202.94
8/2/2010 533155 JUBL FOOD JMP SECURITIES PVT LTD S 518800 217.19
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
8/2/2010 503685 Mediaone Global SHRIPATHEE INVESTMENTS PVT LTD S 83000 92.95
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
8/2/2010 531496 Omkar Overseas NISHITH BABULAL SHAH B 25000 47.59
8/2/2010 512097 Oregon Comm SHIVA INVESTMENT B 5000 193.00
8/2/2010 512097 Oregon Comm HALAN PROPERTIES PRIVATE LTD. B 38624 189.11
8/2/2010 512097 Oregon Comm PREMILA MAHENDRA SHAH B 12500 188.71
8/2/2010 512097 Oregon Comm NEHA VAID B 16777 198.39
8/2/2010 512097 Oregon Comm PRADIPBHAI RAMBHAI PATEL B 20000 180.50
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 512097 Oregon Comm HALAN PROPERTIES PRIVATE LTD. S 28075 188.21
8/2/2010 512097 Oregon Comm RAJENDRA SHAH S 15000 175.02
8/2/2010 512097 Oregon Comm NEHA VAID S 12275 198.35
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
8/2/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA S 46115 33.56
8/2/2010 502587 Rama Pulp JEEVAN FARMS PRIVATE LIMITED S 50000 32.59
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
8/2/2010 531033 Regal Entert UPSURGE INVESTMENT AND FINANCE LTD S 25000 7.37
8/2/2010 530271 Rich Capital SCOPE VYAPAR PRIVATE LIMITED B 75000 62.10
8/2/2010 530271 Rich Capital PR VYAPAAR PRIVATE LIMITED S 75000 62.10
8/2/2010 533143 RMEDIA WRLD SMART EQUITY BROKERS PRIVATE LIMITED B 276577 98.09
8/2/2010 533143 RMEDIA WRLD TRANSGLOBAL SECURITIES LTD. B 373646 96.13
8/2/2010 533143 RMEDIA WRLD OPG SECURITIES P LTD B 288178 97.37
8/2/2010 533143 RMEDIA WRLD SMART EQUITY BROKERS PRIVATE LIMITED S 276577 98.35
8/2/2010 533143 RMEDIA WRLD TRANSGLOBAL SECURITIES LTD. S 373646 96.42
8/2/2010 533143 RMEDIA WRLD OPG SECURITIES P LTD S 288178 97.56
8/2/2010 530025 Samyak Intl SETU SECURITIES PVT LTD B 18013 28.50
8/2/2010 530025 Samyak Intl OMPARKASH GUPTA B 18000 28.50
8/2/2010 530025 Samyak Intl Naman Securities & Finance Pvt. Ltd. B 19475 28.01
8/2/2010 530025 Samyak Intl CHIMANLAL MANEKLAL SECURITIES PVT.LTD B 16788 28.27
8/2/2010 530025 Samyak Intl SETU SECURITIES PVT LTD S 18013 28.50
8/2/2010 530025 Samyak Intl OMPARKASH GUPTA S 18000 28.50
8/2/2010 530025 Samyak Intl Naman Securities & Finance Pvt. Ltd. S 21299 27.85
8/2/2010 530025 Samyak Intl CHIMANLAL MANEKLAL SECURITIES PVT.LTD S 15346 27.89
8/2/2010 531781 Sapan Chem NILESH KRUSHNA PALANDE S 60100 4.60
8/2/2010 531645 Southern Ispat MANHARBHAI B GANDANI B 102638 38.35
8/2/2010 531645 Southern Ispat M/S LAXMI CAP BROKING PVT LTD S 151700 37.32
8/2/2010 531645 Southern Ispat MANHARBHAI B GANDANI S 102638 38.22
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
8/2/2010 526133 Supertex Inds SUPER INFINCON PVT LTD S 1020401 3.34
8/2/2010 512257 Swasti Vinay Gem SAURABH KUMARRASIKLALGANDHI S 193239 4.82
8/2/2010 522229 Taneja Aero DYNAMIC STOCK BROKING INDIA PVT LTD B 162021 49.03
8/2/2010 522229 Taneja Aero BP FINTRADE PRIVATE LIMITED B 135246 49.18
8/2/2010 522229 Taneja Aero DYNAMIC STOCK BROKING INDIA PVT LTD S 162021 48.99
8/2/2010 533121 THINKSOFT A K G STOCK BROKERS PRIVATE LIMITED B 123984 485.26
8/2/2010 533121 THINKSOFT A K G STOCK BROKERS PRIVATE LIMITED S 123984 485.37
8/2/2010 513629 Tulsyan NEC SETU SECURITIES PVT LTD B 26307 99.00
8/2/2010 513629 Tulsyan NEC SMART EQUITY BROKERS PRIVATE LIMITED B 47280 98.36
8/2/2010 513629 Tulsyan NEC TRANSGLOBAL SECURITIES LTD. B 27002 94.25
8/2/2010 513629 Tulsyan NEC BP FINTRADE PRIVATE LIMITED B 119251 98.15
8/2/2010 513629 Tulsyan NEC SMART EQUITY BROKERS PRIVATE LIMITED S 47280 98.27
8/2/2010 513629 Tulsyan NEC TRANSGLOBAL SECURITIES LTD. S 25902 94.99
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
8/2/2010 526879 UT SILICON VALLEY INFOTECH LIMITED S 40000 14.14
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
NSE Bulk Deals to Watch - Feb 9 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
09-FEB-2010,CAROLINFO,Carol Info Services Limit,ASHOKKUMAR PATEL,BUY,375000,57.70,-
09-FEB-2010,FAME,Fame India Limited,RELIANCE CAPITAL PARTNERS,BUY,571544,59.09,-
09-FEB-2010,GATI,GATI LIMITED,DPJ VINIYOG PRIVATE LTD,BUY,362089,60.25,-
09-FEB-2010,ITI,ITI Ltd.,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,110643,55.87,-
09-FEB-2010,ITI,ITI Ltd.,OBEROI DIMPLE,BUY,173333,57.63,-
09-FEB-2010,ITI,ITI Ltd.,OM INVESTMENTS,BUY,103785,55.28,-
09-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,GENUINE STOCK BROKERS PVT LTD,BUY,1195305,234.04,-
09-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,KALASH SHARES & SECURITIES PRIVATE LIMITED,BUY,390801,238.24,-
09-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,MANIPUT INVESTMENTS PVT. LTD.,BUY,424622,236.01,-
09-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,RANDEEP JAIN HUF,BUY,373816,233.36,-
09-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,T. ROWE PRICE INTERNATIONAL INC.,BUY,605023,229.28,-
09-FEB-2010,KINETICMOT,Kinetic Motor Company Ltd,OBEROI DIMPLE,BUY,468689,30.54,-
09-FEB-2010,KINETICMOT,Kinetic Motor Company Ltd,VASANTI SHARE BROKERS LIMITED,BUY,158747,30.32,-
09-FEB-2010,RAMANEWS,Rama Newsprint and Papers,EMAMI PAPER MILLS LTD,BUY,418000,29.00,-
09-FEB-2010,SHREEASHTA,Shree Ashtavinayak Cine V,TRANS FINANCIAL RESOURCES LTD,BUY,1617170,22.29,-
09-FEB-2010,SUBEX,Subex Limited,JMP SECURITIES PVT LTD,BUY,264000,66.17,-
09-FEB-2010,SUBEX,Subex Limited,PAYASH SECURITIES PVT.LTD.,BUY,350000,64.91,-
09-FEB-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,166556,511.10,-
09-FEB-2010,CAROLINFO,Carol Info Services Limit,Bharat Patel,SELL,375000,57.70,-
09-FEB-2010,GATI,GATI LIMITED,DPJ VINIYOG PRIVATE LTD,SELL,598268,60.24,-
09-FEB-2010,ICI,ICI India Ltd.,ABERDEEN ASSET MANAGERS LTD A/C ABERDEEN ASIAN SMALLER COMPA,SELL,234736,601.91,-
09-FEB-2010,ITI,ITI Ltd.,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,94461,55.83,-
09-FEB-2010,ITI,ITI Ltd.,OBEROI DIMPLE,SELL,173333,56.96,-
09-FEB-2010,ITI,ITI Ltd.,OM INVESTMENTS,SELL,103785,55.37,-
09-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,GENUINE STOCK BROKERS PVT LTD,SELL,1195305,234.17,-
09-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,KALASH SHARES & SECURITIES PRIVATE LIMITED,SELL,393801,238.42,-
09-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,MANIPUT INVESTMENTS PVT. LTD.,SELL,424622,236.28,-
09-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,RANDEEP JAIN HUF,SELL,372316,233.48,-
09-FEB-2010,KINETICMOT,Kinetic Motor Company Ltd,OBEROI DIMPLE,SELL,558421,30.33,-
09-FEB-2010,KINETICMOT,Kinetic Motor Company Ltd,VASANTI SHARE BROKERS LIMITED,SELL,158747,30.41,-
09-FEB-2010,RAMANEWS,Rama Newsprint and Papers,T K DUGAR AND CO (PROP: TULSI KUMAR DUG,SELL,418001,29.00,-
09-FEB-2010,SHREEASHTA,Shree Ashtavinayak Cine V,TRANS FINANCIAL RESOURCES LTD,SELL,1617170,22.15,-
09-FEB-2010,SUBEX,Subex Limited,JMP SECURITIES PVT LTD,SELL,264000,66.15,-
09-FEB-2010,SUBEX,Subex Limited,MORGAN STANLEY DEAN WITTER MAURITIUS COMPANY LIMITED,SELL,636538,63.66,-
09-FEB-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,166556,511.85,-
Cement, IT stocks lead 106-points Sensex surge
The key benchmark indices logged decent gains in what was a choppy trading session. After suffering an initial setback, the market staged a comeback as Asian stocks and US index futures rose. The BSE 30-share Sensex jumped 106.57 points or 0.67%, off close to 50 points from the day's high and up close to 180 points from the day's low. The Sensex today, 9 February 2010, regained the psychological 16,000 mark.
The market breadth was positive. PSU, power, telecom and infrastructure stocks gained on fresh buying. Cement stocks surged on reports cement makers have raised prices effective from 1 February 2010. IT stocks gained on bargain hunting after a recent fall. But rate sensitive realty shares declined on fears a hike in interest rate following inflationary pressures in the domestic economy. Auto pivotals also declined. Index heavyweight Reliance Industries (RIL) recovered from day's low
The market was volatile. Equities had a dull start after the US markets suffered a severe setback on Monday with the Dow sliding below the 10,000 mark. Rising fears of possibility that the government may start to unwind its fiscal stimulus in the forthcoming budget and budget deficits in Europe may slow the global economic recovery had also helped triggered the early fall.
The market staged a strong intraday rebound in morning trade as Asian stocks rose. The market erased all its gains and slipped into the red briefly in mid-morning trade. Sustained buying demand in select pivotals triggered a recovery in early afternoon trade. After striking fresh intra-day high in afternoon trade, the market pared gains in mid-afternoon trade.
India VIX, a volatility index based on the S&P CNX Nifty index option prices, shed 1.48% to 29.91. India VIX is a measure of the market's expectation of volatility over the next 30 calendar days.
European shares edged lower in volatile trade. Key benchmark indices in France and Germany were down by between 0.03% and 0.33%. But, UK's FTSE 100 rose 0.23%.
Asian markets ended mostly higher on Tuesday, with a rebound in commodity prices and Swiss banking major UBS's return to profit spurring late buying in Hong Kong. The key benchmark indices in China, South Korea, Hong Kong, Singapore and Taiwan were up by between 0.47% to 2.01%. However, Japan's Nikkei 225 index fell 0.19%.
US markets edged lower on Monday, 8 February 2010, as investors sold financial shares due to heightened concerns about the euro zone's sovereign debt troubles, sending the Dow below the psychological 10,000 mark for the first time since November 2009. The Dow Jones Industrial Average slid 103.84 points, or 1.04%, at 9,908.39. The Standard & Poor's 500 Index dropped 9.45 points, or 0.89%, at 1,056.74. The Nasdaq Composite index declined 15.07 points, or 0.70%, at 2,126.05.
Trading in US index indicated the Dow could rise 38 points at the opening bell on Tuesday, 9 February 2010.
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.
Markets across the globe have been under pressure recently following the recent European fiscal woes, rising US jobless claims and China holding back bank lending
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. Rising fears of possibility that the government may start to unwind its fiscal stimulus in the forthcoming budget also added to woes.
With barely weeks to go before the presentation of the Railway Budget 2010-2011, the Ministry said it has registered earnings of Rs 70,501 crore in the 10 months from 1 April 2009 to 31 January 2010, an 8.5% increase over the Rs 64,943.32 crore it recorded during the same period the previous year. The national transporter booked approximately 600 crore passengers, a 5% increase over last year, the railways said in an emailed press statement.
Government on Monday, 8 February 2010, 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) forecasts a growth of 9.9% in services and 8.9% in manufacturing, the highest among the eight broader economic activities.
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 recently 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.
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.
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 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.
The BSE 30-share Sensex rose 106.57 points or 0.67% to 16,042.18. The index opened 5.12 points higher at 15,940.73. At the day's high of 16,094.13, the Sensex rose 158.52 points in afternoon trade. The Sensex lost 72.71 points at the day's low of 15,862.90 in early trade.
The S&P CNX Nifty rose 32.25 points or 0.68% to 4792.65.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1483 shares advanced as compared with 1301 that declined. A total of 77 shares remained unchanged.
The total turnover on BSE amounted to Rs 4460 crore lower than Rs 4687 crore on Monday, 8 February 2010
From the 30-member Sensex pack, 19 gained while the rest slipped.
The BSE Mid-Cap index rose 0.44% and the BSE Small-Cap index rose 0.44%. Both the indices underperformed the Sensex.
The BSE IT index (up 2.52%), BSE Teck index (up 2.09%), BSE PSU index (up 1.67%), BSE HealthCare index (up 0.95%), BSE Power index (up 0.79%) and BSE Capital Goods index (up 0.71%), outperformed the Sensex.
BSE Realty index (down 1.21%), BSE Oil & Gas index (down 0.23%), BSE FMCG index (up 0.16%), BSE Consumer Durables index (up 0.26%), BSE Auto index (up 0.29%), BSE Metal index (up 0.45) and BSE Bankex (up 0.6%) underperformed the Sensex.
Cement stocks gained on reports prices are again on the boil. Diversified major Grasim, which is about to merge its cement division with UltraTech Cement, jumped 4.81%.
Among other cement stocks, ACC, UltraTech Cement and Ambuja Cements rose by between 2.93% to 3.24%..
After a series of rises since November 2009, a fresh round of price increase, effective from 1 February 2010 by almost all manufacturers has pushed the rate up by Rs 3-5 for a 50 kg bag, pushing the average national price to about Rs 235. In November, the average rate was Rs 210-215 a bag.
Index heavyweight Reliance Industries (RIL) fell 0.26% to Rs 993.75, recovering from day's low of Rs 984.15. 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.
IT stocks rose on a recent steep slide of the rupee against the dollar. India's second largest IT exporter by sales Infosys surged 2.92%. India's third largest software services exporter Wipro rose 2.49%. 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 gained 1.44%. 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.
The Indian rupee recovered on Tuesday from a seven-week trough reached in the previous session, as broadly higher Asian peers lifted sentiment. It was hovering at 46.65/66 a dollar, higher than its close of 46.83/84 on Monday.
A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lion's share of revenue from exports
India's largest private sector steel maker by sales Tata Steel fell 0.07% in volatile trade . 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.
PSU stocks gained on fresh buying after they had underwent correction after recently concluded NTPC FPO saw lukewarm investor response. NMDC (up 9.48%), Hindustan Copper (up 10%), Engineers India (up 1.80%), HMT (up 10.66%), ITI (up 8.31%), and Rural Electrification Corporation (up 1.55%), gained.
Power stocks gained on fresh buying as investors realigned their portfolios post the recently concluded NTPC FPO. India's largest power utility firm by sales NTPC rose 0.64%. 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, Reliance Infrastructure, Torrent Power and Tata Power Company rose by between 0.87% to 2.03%.
India's largest power equipment maker by sales Bharat Heavy Electricals rose 0.07%. The company on Monday secured a contract for the electro-mechanical equipment package for a 1,200 megawatt hydroelectric project in Bhutan valued at Rs 1,016 crore.
India's largest engineering and construction firm by sales Larsen & Toubro rose 1.21% after company said today it won orders worth Rs 582 crore.
Among other capital goods stocks, SKF India, Siemens, BEML, Praj Industries rose by between 0.26% to 1.37%.
Rate sensitive realty shares declined on fears a hike in interest rate following inflationary pressures in the domestic economy. India's largest realty firm by sales DLF lost 1.51%. Among other realty stocks, Indiabulls Real Estate, Unitech and Parsvanath Developers fell by between 0.56% to 2.9%,
Telcom stocks were mixed on reports they will together save at least $1.5 billion this fiscal in capital expenditure thanks to their practice of sharing towers and accompanying infrastructure, giving them some respite from a brutal price war
India's largest cellular services provider by sales Bharti Airtel rose 1.78%. But, India's second largest cellular services provider by sales Reliance Communications fell 0.3%.
Metal stocks gained after LMEX, a gauge of six metals traded on the London Metal Exchange, surged 2.20% on Monday, 8 February 2010. Steel Authority of India, JSW Steel, Jindal Saw, Hindustan Zinc and Sterlite Industries rose by between 0.32% to 1.84%.
But, India's largest private sector steel maker by sales Tata Steel fell 0.07%. 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.
Auto stocks rose on jump in vehicle sales in the month of January 2010. India's largest commercial vehicle maker by sales Tata Motors rose 0.4%. Among two wheeler stocks, Hero Honda Motors, TVS Motor Company and Bajaj Auto rose by between 0.07% to 2.09%.
But, India's top small car manufacturer by sales Maruti Suzuki India fell 0.94%. As per reports the company expects a 20% growth in sales and hopes to double its exports to around 1.6 lakh units this fiscal ended March 2010.
India's biggest tractor maker by sales Mahindra & Mahindra (M&M) fell 1.07%. Reportedly M&M and Britain's BAE Systems plan to inject a total of $21.25 million over a three-year period into their joint venture company Defence Land Systems India. The joint venture firm will roll out high mobility vehicle Axe, armoured and bulletproof Scorpios, Boleros, Rakshak, rapid intervention vehicles and the Marksman light-armoured vehicles.
Lupin rose 3.53%, after the company received final approval from US Food & Drug Administration for Amlodipine/Benazepril capsules in multiple strengths.
Among other healthcare stocks, Sun Pharmaceutical Industries, Cipla, Ranbaxy Laboratories, Pfizer and Sterling Biotech rose by between 0.73% to 2.22%.
Infrastructure stocks rose on recent reports the government is considering new guidelines for private equity investment in infrastructure companies in an attempt to open new sources of equity funding for the sector. The move comes in the backdrop of the poor response from private companies and banks in financing projects, especially those in sectors like highways and urban transport and infrastructure. Gayatri Projects, Nagarjuna Construction Company and Hindustan Construction Company rose by between 0.71% to 4.24%.
Cals Refineries clocked the highest volume of 3.34 crore shares on BSE. Jubilant FoodWorks (1.4 crore shares), Unitech (0.76 crore shares), Shree Ashtavinayak (0.67 crore shares), Hindalco Industries (0.63 crore shares) were among the other volume toppers in that order.
Jubilant FoodWorks clocked the highest turnover of Rs 342.41 crore) on BSE. Tata Steel (Rs 131.22 crore), State Trading Corporation (Rs 124.54 crore), Infinite Computer Solutions (Rs 111.18 crore) and Hindustan Copper (Rs 100.12 crore) were among the other turnover toppers in that order.
Daily Call - Feb 9 2010
Euro zone’s sovereign debt concerns came haunting again as US markets closed with nearly 1% cut after briefly flirting with the positive territory in the first half of trade, led lower by financial shares.
While our markets bounced back smartly in the latter half of the trade, the sustainability of such moves is a big question mark. The gains made merely on the back of short covering are not sustainable, unless followed up by fresh buying. FIIs provisionally sold worth Rs. 935 cr in cash segment and 295 cr in index futures yesterday. Nifty took the resistance at the upward sloping trend line joining bottoms of August and November 2009 which earlier acted as a support. While On the move up, Nifty will encounter various resistances, including yesterday’s high placed at 4799, the upper band of the gap down opening on Friday placed at 4832 and 61.8% retracement level of the fall from 4951 to 4675 placed at 4846, the toughest one is placed at 4950, which happens to be the previous top. We have been advising sell on rallies since Nifty broke 5170 and traders who would have followed our advice would be a happier lot as market has been consistently coming down after brief rallies. Sell on Rallies still remains the advice and only a decisive close above 4950 will only negate the bearish view. Yesterday’s Low of 4675 is the immediate support.
Sensex may open flat
Headlines for the day
Stimulus drawback likely on higher GDP growth - Business Standard
Steel prices to rise on costlier inputs, demand - Business Line
Bulk drug exports hit by govt's 15% value-addition directive - Business Standard
Govt wants ‘back-up' for Chinese power gear - Business Line
Centre mulls domestic sugar ban for bulk users - Business Standard
Events for the day
Major corporate action:
Hathway Cable & Datacom Ltd IPO opens today
Ex-date for Rights issue of Swaraj Mazda in the ratio of 19:50
Ex-date for interim dividend of Amrutanjan, BHEL, Financial Technologies, Geodesic, GMM Pfaudler, Greaves Cotton, Gujarat Ambuja Export, Havells India, Narathon Nextgen, Oriental carbon, Pennar Industries, Sree Sakthi Paper, Sundaram Financial, Sundram Fastners and Suprajit Engineering.
Pre-market report
Global signals
On Monday, The European stocks ends its three-day losing streak and closed higher. FTSE 100 closed 0.62% higher at 5092.
In US markets, Dow Jones closed below 10000 level mark first time since November as Euro zone debt concern continue. Nasdaq closed 0.70% Lower.
In today's trade, Asian indices showing the mixed trend. Indices like Hange Seng, Kospi Straits Times and Shanghai Composite are trading in green, while indices like Nikkei and Jakarta Composite are trading in red zone.
Indian markets
Indian market may open flat and remain volatile on the back of mixed global cues.
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, MTNL surged the most with gains of 2.35%, on other hand Dr. Reddy fell the most with loss of 3.47%.
Commodity cues
In the commodity space, wherein the Crude oil prices recorded marginal loss, with the Nymex light crude oil for March series down by $0.35 to settle at $71.54 a barrel.
In the metals space, Comex Gold for April series rose by $13.20 to settle at $1066.00 to a troy ounce.
In the metals space, Comex Silver for March series rose by $0.27 to settle at $15.10 to a troy ounce.
Daily trend of FII/MF investment in equities
On February 08, 2010, FIIs were the net sellers of the Indian Stocks in the tune of Rs1629.70 crore (with the gross purchase of Rs1517.80 crore and gross sales of Rs3147.50 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).
Daily Grey Market Premiums - Feb 9 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) | Kostak (Rs. 1 Lac Application) |
| Aqua Logistics | 220 | 2.5 to 4 | -- |
| Syncom Healthcare | 75 | 9 to 10 | -- |
| Thangamayil Jewellery | 75 | 3 to 4 | -- |
| Vascon Engg. | 165 | 7 to 8 | -- |
| D. B. Realty | 468 | 9 to 11 | -- |
| Emmbi Polyarns | 40 to 45 | 2 to 2.50 | -- |
| NTPC (FPO) | 201 | 4 to 5 | -- |
| ARSS Infrastructure Projects | 410 to 450 | 45 to 47 | 1900 to 2100 |
| Hathway Cable & Data Comm. | 240 to 265 | 15 to 17 | 1800 to 2000 |
| REC (FPO) | -- | -- | -- |
Daily News Roundup - Feb 9 2010
BHEL has secured Rs10bn contract from Punatsangchhu Hydroelectric Project Authority. (FE)
GMR Infrastructure plans to raise over Rs15bn via private equity route. (ET)
Mahindra & Mahindra and the UK’s BAE Systems to inject US$21.25mn over a three-year period into their joint venture company, Defence Land Systems India. (BS)
Pantaloon Retail plans to spin off at least five of its brands and merge them with Capital Foods. (ET)
Nagarjuna Construction secured five orders aggregating Rs5.8bn. (BL)
Jet Airways plans to raise US$200mn in the coming 3-4 weeks via QIP route. (FE)
Areva T&D India bagged two projects worth Rs2.8bn from Power Grid Corporation of India for installation of sub-stations in Punjab and Haryana. (BL)
Cipla maintained its top position in the domestic market for the 2009, with a market share of 5.38%.(BS)
JSW Steel group has brought forward the date for commencement of work on its steel project at Salboni in West Bengal by about a year. (BS)
Global private investment firm TPG has submitted a proposal to the corporate debt restructuring (CDR) cell to buy stake in the Vishal Retail. (BS)
Turkish Airlines to lease three Boeing 777 from Jet Airways. (BS)
PTC India Financial Services Ltd, an arm of power trading major PTC India, has raised Rs1bn by issuance of secured non-convertible debentures. (BL)
Wadia family of Bombay Dyeing is considering raising its stake through a preferential issue of warrants. (ET)
Lupin has received final approval from the US drug regulator for marketing Amlodipine-Benazepril capsules, used for treating high blood pressure, in America. (ET)
Inox Leisure has acquired a 43.28% stake in Fame India for an all-cash consideration of Rs664mn. (ET)
L&T Finance plans to raise upto Rs5bn through non-convertible debenture. (ET)
Centre mulls domestic sugar ban for bulk users. (BS)
India Infrastructure Finance Company (IIFCL) has kicked off work on a US$1bn medium term note program to raise resources for funding power, road, port and airport projects. (BS)
Central Statistical Organisation (CSO) pegs 2009-10 growth at 7.2% on industrial progress. (BL)
With soaring asset prices, RBI has ruled out one more round of restructuring of real estate loans which may increase non-performing assets of banks. (ET)
The commerce department clarified that SEZs would continue to enjoy tax benefits in their current form even after the proposed Direct Tax Code is implemented. (ET)
The financial ministry officials noted that it has no plan to raise the limit on foreign institutional investment in debt. (FE)
Bull-bear slugfest may continue
A bland smile is like a green light at an intersection, it feels good when you get one, but you forget it the moment you're past it.
We now have statistical evidence to substantiate that the green shoots in India have blossomed further. FY10 GDP is set to grow 7.2%, says the Government. This figure is subject to revision, which hopefully will be on the higher side. In fact, the RBI sees a 7.5% growth in FY10 GDP. Apart from the subdued credit growth and tepid tax receipts (partly owing to fiscal stimulus) most other economic indicators have improved substantially. This suggests that India has weathered the global financial storm well and needs to sustain the momentum.
The ball is now in the Finance Minister’s court. In that context, Feb. 26 will be a crucial day. Pranab Mukherjee is likely to take a calibrated approach to unwinding the fiscal stimulus. He has his task cut out on the fiscal front. So, we expect him to articulate strategy to return to the path of fiscal prudence. Any deviation from this will be disappointing. The key would be to keep expectations low before the Budget.
Today we expect a flat opening due to indecisive global cues. The Dow Jones has closed below 10,000. Stocks in Europe finished higher. Asia is pretty much mixed. Derivative indicators are pointing to further weakness. Technically, 4700 could give near-term support to the Nifty while resistance might kick in at 4800. The 200 DMA of 4640 will continue to be a crucial level to watch. The broad range for the Nifty remains at 4700-4900 for now. Relentless FII selling is a big handicap for the bulls in the near term.
Our sense is that the market will be sideways and choppy amid continued uncertainty over the health of the global economy and prospects for the Indian economy in FY11. Monsoon will be another big variable that could potentially influence the market's direction going forward. There is also some risk as far as Government policy is concerned as it tries to execute an effective 'exit' strategy from the unprecedented fiscal stimulus.
Volatile markets ended with modest gains on Monday. After starting off at day’s low, markets pulled back smartly in the second half led by gains in the index heavyweights Bharti Airtel, Infosys, ONGC and L&T. Sentiment further got a fillip after European markets started off with smart gains.
The BSE Sensex ended up 20 points at 15,935 after touching a high of 16,061 and a low of 15,651. The Nifty ended flat at 4,760.
Equity markets in Asia ended in the red. The Nikkei in Japan was down 1%, while Australia's S&P/ASX ended flat. The Shanghai SE Composite ended flat and Hang Seng index in Hong Kong was down 0.6%.
In Europe, stocks were trading higher. The DAX in Germany was up 0.7% and the CAC 40 index in France was up 0.9%. The FTSE in the UK was up 0.6%.
Coming back to India, among the BSE sectoral indices, the BSE Capital Goods index was the top gainer, adding 0.6%, followed by Teck index that was up 0.5% and BSE Banking index was up 0.4%. The BSE Mid-Cap and BSE Small-Cap index ended almost unchanged.
Among the 30-components of Sensex 16 ended in the positive terrain and 14 ended in the red. Bharti, Infosys, ONGC, L&T and SBI were among the top gainers. On the other hand, major losers were Tata Steel, Hindalco, TCS and Wipro.
Outside the frontline indices, the big losers in the broader market were Gujarat NRE Coke, REC, Spice Comm and REI Agro. On the other hand, gainers included Chambal Fert, LITL, P&G and Dabur India.
Jubilant Foodworks, running the fast food chain under the Dominos pizza brand ended the day with delicious gains registering 66% rise as against its issue price of Rs145.
The price band of IPO, through which the company expects to raise up to Rs3.29bn, was fixed between Rs135 to Rs145 per equity. The issue closed on January 20.
The company had entered the capital market with an issue size of 2.26crore equity shares of Rs10 each. At the upper end of price band, the offer is valued worth Rs3.29bn.
The company had already roped in several anchor investors that includes Reliance MF, SBI MF, Blackrock, Canara Robeco MF and Fidelity for a total investment of Rs443mn under its pre-IPO placement.
The company earlier reported a surge in Oct-Dec net profit to Rs113.7mn, compared with Rs17.7m a year ago. Its total income grew to Rs1.17bnn from Rs780.3m for the quarter.
The firm also plans to open 65-70 new stores in the current fiscal, of which it has opened 55 as of Dec 31, 2009.
Shares of Madhucon Projects surged by over 3% to end at Rs161 after the company announced that it secured 75MW Hydro Power project from Uttarakhand Jal Vidyut Nigam Limited, Government of Uttarakhand. The scrip opened at Rs160 it touched an intra-day high of Rs167 and a low of Rs157 and recorded volumes of over 82,000 shares on BSE.
Shares of Sobha Developers ended lower by 3.5% at Rs256. The company had nearly 4.1% equity shares changed hands in a single transaction. The transaction was at an average price of Rs265 per share on the BSE. The scrip opened at Rs266 it touched an intra-day high of Rs277 and a low of Rs254 and recorded volumes of over 4.6mn shares on BSE.
Shares of Taneja Aerospace shot up by over 16% to end at Rs48 after ~234,030 equity shares, or 0.9% of its equity, changed hands in seven blocks on the BSE. The trading volume surged over 6x the three-month daily average.
The scrip opened at Rs42 it touched an intra-day high of Rs49 and a low of Rs41.7 and recorded volumes of over 2.2mn shares on BSE.
Rolta India
We recommend a sell in the stock of Rolta India from a short-term perspective. It is evident from the charts that the stock's intermediate-term uptrend which started in March 2009 low of Rs 40.7, encountered significant resistance in the band of Rs 200 and Rs 210 in mid-January. Subsequently, the stock reversed direction triggered by the negative divergence displayed in the weekly moving average convergence and divergence, and the long-term resistance. Since then, the stock has been on budding short-term downtrend. While trending down, the stock conclusively penetrated the intermediate-term uptrend-line as well as 50-day moving average by tumbling 5 per cent on February 5. The selling pressure continued and it fell 3 per cent in the last trading session, reinforcing the downtrend. With this, the daily relative strength index lost strength and entered the bearish zone and weekly RSI is slipping towards this zone in the neutral region. The daily MACD has entered the negative territory. Our short-term forecast is bearish for the stock. We expect it to decline until it hits our price target of Rs 161. Traders with short-term perspective can consider selling the stock while maintaining stop-loss at Rs 188.
via BL
Market seen opening marginally lower
The market may see a flat-to-negative start with most Asian markets recovering after faltering in early trade today. The S&P CNX Nifty futures for February 2010 expiry were trading 2.5 points lower in Singapore. Asian markets were trading mixed today while US markets suffered a severe setback on Monday with the Dow sliding below the 10,000 mark.
Asian stocks were trading mixed today, 9 February 2010. The key benchmark indices in China, Hong Kong, South Korea and Taiwan were up by between 0.10% to 1.70%. However, indices in Singapore and Japan were down 0.44% and 0.68% respectively.
US markets edged lower on Monday, 8 February 2010, as investors sold financial shares due to heightened concerns about the euro zone's sovereign debt troubles, sending the Dow below 10,000 for the first time since November 2009.
The Dow Jones Industrial Average slid 103.84 points, or 1.04%, at 9,908.39. The Standard & Poor's 500 Index dropped 9.45 points, or 0.89%, at 1,056.74. The Nasdaq Composite index declined 15.07 points, or 0.70%, at 2,126.05.
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.
Markets across the globe have been under pressure recently following 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. Rising fears of possibility that the government may start to unwind its fiscal stimulus in the forthcoming budget also added to woes.
Government on Monday, 8 February 2010, 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.
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.
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.
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 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.
Key benchmark indices logged marginal gains on Monday, 8 February 2010, 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% to 15,935.61 and the S&P CNX Nifty rose 3.15 points or 0.07% to 4760.40
As per provisional figures on NSE, foreign funds sold shares worth Rs 935.55 crore and domestic funds bought shares worth Rs 381.07 crore on Monday, 8 February 2010.
FIIs remain net sellers in equities on Feb. 08
Foreign Institutional Investors (FIIs) remained net sellers in equities worth Rs 16,297 million on February 08. They bought equities worth Rs 15,178 million and sold equities worth Rs 31,475 million. Till February 08, they have been net buyers in equities worth Rs 12,245 million.
FIIs remained net buyers in the debt segment worth Rs 135 million on February 08. They bought debt worth Rs 2,770 million and they sold debt worth Rs 1,420 million. Till February 08 they have been net sellers in debt worth Rs 3,553 million.
Financials weigh on stocks at Wall Street
Dow closes below 10,000 mark for first time in three months
US stocks stated and ended the day in the red on Monday, 08 February 2010. Though losses were minimal during most part of the day, the same cumulated during the final hour of trading. A sell-off in the financial sector weighed on the broader stock market as concerns about the global economy and U.S. interest-rate policy simmered. Commodities witnessed modest strength today due to weakness in the US Dollar Index.
At the end of the day on Monday, 08 February 2010, the Dow Jones Industrial Average ended lower by 103.84 points at 9908.39. Nasdaq ended lower by 15.07 points at 2126.05. S&P 500 ended lower by 9.54 points at 1056.54. Dow opened 45 points lower earlier during the day. Dow closed below the 10,000 mark for the first time in three months today. Last week, it had slipped below that mark couple of times but had managed to end higher at the end.
All ten economic sectors ended in the red today led by financial, industrials and materials sectors. Overall news flow remained quite slow in the market.
Of the 30 Dow components, Bank of America was the worst performer. American Express, JP Morgan and Travelers were the other Dow laggards.
The financial sector was bogged down today following a Wall Street Journal report that Federal Reserve Chairman Ben Bernanke will begin laying the groundwork for credit tightening later in the year, bringing to a close of historically low rates that have made it easier for ailing banks to book big profits.
Despite choppy, listless action in the broader market, tech stocks were able to trade with steady gains. The sector was up with support from big names like Google, Intel and Texas Instruments.
Retailers were another segment that had managed to trade with strong gain today. Among retailer plays, CVS Caremark was a primary leader, thanks to better-than-expected earnings for its latest quarter. Online retailer Amazon.com and home improvement retailer Home Depot were also strong after analysts upgraded their shares ahead of the opening bell.
In other markets, the dollar weakened against both the euro and the Japanese yen. Crude-oil futures edged higher and gold futures rose.
In the currency market on Monday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell by almost 0.4%. The dollar had risen to seven month high against its counterparts last week.
After four consecutive sessions of drop, crude oil prices finally rose on Monday, 08 February 2010. Prices rose as cold weather is expected to grip parts of North America in the coming days. Prices also rose as the dollar's rally came to a halt and Nigerian militants said they disabled a pipeline operated by Royal Dutch Shell.
On Monday, crude-oil futures for light sweet crude for March delivery closed at $71.84/barrel (higher by $0.65 or 0.9%). During intra day trading, prices rose to a high of $72.39. Last week, crude had witnessed the biggest percentage daily drop in six months. On a year to date basis, crude is lower by 11%.
Among other energy products on Monday, gasoline for March delivery rose 1 cent to end at $1.90 a gallon. Heating oil for March gained 2 cents to $1.89 a gallon. Also on Monday, natural gas for March fell 11 cents to $5.40 per million British thermal units,
Precious metal prices kicked off the new week with a rise on Monday, 08 February 2010. Prices rose as the dollar's rally came to a halt. On Monday, gold for April delivery ended at $1,066.2 an ounce, higher by $13.4 (1.3%) an ounce on the New York Mercantile Exchange. Earlier during intra day trading, it rose to a high of $1,074.3. Year to date, gold has shed 2.6%. On Monday, March Comex silver futures ended higher by 25.5 cents (1.7%) at $15.085 an ounce.
Indian ADRs ended mixed on Monday. Dr Reddys was the main loser shedding 3.5% followed by Rediff.com and Wipro Technologies, which fell 2% and 1.2% respectively. MTNL and Tata Motors were the main gainers soaring 2.3% and 1.3% respectively.
Tomorrow, there are no economic reports scheduled for the day. But earning reports will continue to pour in.
Copper rises for first time in five sessions
Prices rise and dollar slumps
Copper prices ended higher on Monday, 08 February 2010. Prices rose as the dollar weakened thereby increasing the appeal of commodities as an alternate investment. Prices rose for first time in five sessions.
At USA, copper futures for March delivery ended higher by 5.65 cents (2.1%) at $2.913 a pound. This year, till date, copper is lower by 15%. Copper ended FY 2009 higher by 140%.
At LME, copper for delivery in three months ended higher by $170 (2.7%) at $6,450. 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%.
In the currency market on Monday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell by almost 0.4%. The dollar had risen to seven month high against its counterparts last week.
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 higher by Rs 0.95 (0.31%) at Rs 300.9/Kg. Prices rose to a high of Rs 302.35/Kg and fell to a low of Rs 296.6/Kg during the day's trading.
Among other metals traded in the LME on Monday, lead ended 0.4% higher at $1,955 a ton and zinc ended marginally higher to end at $2,013 a ton. Nickel ended 0.7% higher to end at $17,250. Aluminum ended 0.2% higher at $2,007 a ton.
Precious metals climb back
Prices gain ground as dollar's rally comes to halt
Precious metal prices kicked off the new week with a rise on Monday, 08 February 2010. Prices rose as the dollar's rally came to a halt.
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 Monday, gold for April delivery ended at $1,066.2 an ounce, higher by $13.4 (1.3%) an ounce on the New York Mercantile Exchange. Earlier during intra day trading, it rose to a high of $1,074.3. Gold had shed almost 6% in the past three sessions. Today's gain was the largest gain for yellow metal in February till date. Last week, gold lost 2.9%. For January 2010, gold lost 1.2%. Year to date, gold has shed 2.6%.
On Monday, March Comex silver futures ended higher by 25.5 cents (1.7%) at $15.085 an ounce. Last week, silver ended lower by 7.8%. In January 2010, silver shed 3.9%. Year to date in FY 2010, silver has dropped by almost 10%.
In the currency market on Monday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell by almost 0.4%. The dollar had risen to seven month high against its counterparts last week.
Precious metal prices started slipping since past couple of weeks due to impending worries from China front where tightening monetary policies are bothering investors due to shaky demand of metals in coming months.
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.
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. 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.
At the MCX, gold prices for April delivery closed lower by Rs 10 (0.06%) at Rs 16,276 per ten grams. Prices rose to a high of Rs 16,349 per 10 grams and fell to a low of Rs 16,221 per 10 grams during the day's trading.
At the MCX, silver prices for March delivery closed Rs 93 (0.38%) lower at Rs 24,231/Kg. Prices opened at Rs 24,325/kg and fell to a low of Rs 24,010/Kg during the day's trading.
Crude glides up
Prices rise due to cold weather and weak dollar
After four consecutive sessions of drop, crude oil prices finally rose on Monday, 08 February 2010. Prices rose as cold weather is expected to grip parts of North America in the coming days. Prices also rose as the dollar's rally came to a halt and Nigerian militants said they disabled a pipeline operated by Royal Dutch Shell.
On Monday, crude-oil futures for light sweet crude for March delivery closed at $71.84/barrel (higher by $0.65 or 0.9%). During intra day trading, prices rose to a high of $72.39. Last week, crude had witnessed the biggest percentage daily drop in six months. Last week, crude ended lower by 2.3%. In January 2010, crude ended lower by 8.3%. On a year to date basis, crude is lower by 11%.
In the currency market on Monday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell by almost 0.4%. The dollar had risen to seven month high against its counterparts last week.
Among other energy products on Monday, gasoline for March delivery rose 1 cent to end at $1.90 a gallon. Heating oil for March gained 2 cents to $1.89 a gallon.
Also on Monday, natural gas for the same month fell 11 cents (2%) to $5.40 per million British thermal units.
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 53.5% since then. Crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex.
At the MCX, crude oil for February delivery closed Rs 10 (0.3%) lower at Rs 3,364/barrel. Natural gas for February delivery closed lower by Rs 1.5 (0.58%) at Rs 256.7/mmbtu.
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