India Equity Analysis, Reports, Recommendations, Stock Tips and more!
Search Now
Recommendations
Thursday, March 18, 2010
BSE Bulk Deals to WAtch - March 18 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
18/3/2010 511706 Action Fin INTEGRATED FINANCIAL SERVICES LIMITED S 52000 23.01
18/3/2010 520077 Amtek Auto SWISS FINANCE CORPORATION (MAURITIUS) LTD B 1000000 177.90
18/3/2010 533163 ARSS INFRA OPG SECURITIES P LTD B 325714 940.26
18/3/2010 533163 ARSS INFRA ANITA SINGHAL B 81324 932.67
18/3/2010 533163 ARSS INFRA SANJEEV SINGHAL B 329604 939.01
18/3/2010 533163 ARSS INFRA MATRIX EQUITRADE PRIVATE LIMITED LIMITED B 82479 944.75
18/3/2010 533163 ARSS INFRA CHANDARANA INTERMIDIARY BROKERS PVT LTD B 205692 936.37
18/3/2010 533163 ARSS INFRA MARWADI SHARES AND FINANCE LTD. B 165444 933.25
18/3/2010 533163 ARSS INFRA GENUINE STOCK BROKERS PVT. LTD. B 311072 939.73
18/3/2010 533163 ARSS INFRA SMART EQUITY BROKERS PRIVATE LIMITED B 654950 940.67
18/3/2010 533163 ARSS INFRA JMP SECURITIES PVT LTD B 124664 953.68
18/3/2010 533163 ARSS INFRA VARDHAMAN INVESTMENT B 156198 918.64
18/3/2010 533163 ARSS INFRA BLUE PEACOCK SECURITIES PRIVATE LIMITED B 126771 971.45
18/3/2010 533163 ARSS INFRA BLUE PEACOCK SECURITIES PRIVATE LIMITED S 126771 920.31
18/3/2010 533163 ARSS INFRA VARDHAMAN INVESTMENT S 156198 964.14
18/3/2010 533163 ARSS INFRA JMP SECURITIES PVT LTD S 108188 970.76
18/3/2010 533163 ARSS INFRA SMART EQUITY BROKERS PRIVATE LIMITED S 654950 941.31
18/3/2010 533163 ARSS INFRA GENUINE STOCK BROKERS PVT. LTD. S 311072 940.09
18/3/2010 533163 ARSS INFRA MARWADI SHARES AND FINANCE LTD. S 165444 933.18
18/3/2010 533163 ARSS INFRA CHANDARANA INTERMIDIARY BROKERS PVT LTD S 205692 936.11
18/3/2010 533163 ARSS INFRA MATRIX EQUITRADE PRIVATE LIMITED LIMITED S 82529 945.14
18/3/2010 533163 ARSS INFRA OPG SECURITIES P LTD S 325714 941.13
18/3/2010 533163 ARSS INFRA SANJEEV SINGHAL S 329604 940.02
18/3/2010 533163 ARSS INFRA ANITA SINGHAL S 81324 933.52
18/3/2010 530187 Atharv Enter HITESH RAMJI JAVERI B 36087 10.79
18/3/2010 530187 Atharv Enter IQBAL HATIMBHAI SOGIAWALA S 28000 10.86
18/3/2010 512149 Avance Tech CHANDRAKANT B SHAH S 1407341 5.03
18/3/2010 512109 Aviva Inds BHARVINBHAI SURESHBHAI PATEL B 96466 23.75
18/3/2010 512109 Aviva Inds RAJENDRASURI FINANCIAL SERVICES (GUJARAT) PRIVATE LIMITED S 17000 23.50
18/3/2010 512109 Aviva Inds SUBODHSAGAR SHARES & SERVICES PRIVATE LIMITED S 19547 24.00
18/3/2010 512109 Aviva Inds PRAKASHBHAI NARSINHBHAI PATEL S 13050 24.00
18/3/2010 512109 Aviva Inds AMRATLAL AMIN NARENDRA S 29325 23.00
18/3/2010 512109 Aviva Inds AANGI SHARES & SERVICES PVT. LTD. S 19000 23.12
18/3/2010 532989 Bafna Pharma RENEKA M B 83623 34.23
18/3/2010 532989 Bafna Pharma RAJ INVESTMENT B 115225 33.57
18/3/2010 532989 Bafna Pharma ADITICON SERVICES INDIA PRIVATE LIMITED B 95299 34.46
18/3/2010 532989 Bafna Pharma RAJ INVESTMENT S 90225 33.55
18/3/2010 532989 Bafna Pharma MAHESH CHANDAK S 189745 33.88
18/3/2010 500031 Bajaj Elect ANANT BAJAJ B 600000 216.00
18/3/2010 500031 Bajaj Elect SHEKHAR BAJAJ B 2000000 216.00
18/3/2010 500031 Bajaj Elect KIRAN BAJAJ B 1000000 215.00
18/3/2010 500031 Bajaj Elect BAJAJ HOLDINGS AND INVESTMENT LIMITED B 3964000 209.84
18/3/2010 500031 Bajaj Elect SANJIVNAYAN BAJAJ S 742000 208.00
18/3/2010 500031 Bajaj Elect RAHULKUMAR BAJAJ HUF S 942000 213.10
18/3/2010 500031 Bajaj Elect RAHULKUMAR BAJAJ S 3000000 215.67
18/3/2010 500031 Bajaj Elect NIRAJ BAJAJ HUF S 605000 212.00
18/3/2010 500031 Bajaj Elect MADHUR BAJAJ S 760000 208.00
18/3/2010 500031 Bajaj Elect KUMUD BAJAJ S 520000 209.00
18/3/2010 500031 Bajaj Elect NIRAJ BAJAJ S 700000 212.00
18/3/2010 531591 Bampsl Sec PRAKASH CHAND GUPTA B 417685 1.41
18/3/2010 531591 Bampsl Sec KAUSHALYA GARG B 1300000 1.41
18/3/2010 531591 Bampsl Sec SUNIL KUMAR GUPTA S 865000 1.41
18/3/2010 590059 Bihar Tubes NEETA HEMANT ASHAR B 115000 94.99
18/3/2010 500069 BNK Cap Markets VINODKUMAR MOHIT AGRAWAL B 45000 42.26
18/3/2010 500069 BNK Cap Markets VINODKUMAR MOHIT AGRAWAL S 45000 41.48
18/3/2010 500083 Century Extr MAHIPAT IWDARMAL MEHTA B 252144 8.36
18/3/2010 511672 Clarus Finance SANDEEP HISARIA B 102403 16.63
18/3/2010 517973 DMC Intl CNB FINWIZ LIMITED B 150000 20.67
18/3/2010 532491 ECE Inds GANDIV INVESTMENT PVT. LTD. S 63000 170.13
18/3/2010 526614 Expo Gas BHASKARA REDDY KUNAREDDY S 57865 17.57
18/3/2010 590024 Fert & Chem Trv B HIMANSHU DANI B 46828 51.62
18/3/2010 590024 Fert & Chem Trv TRANSGLOBAL SECURITIES LTD. B 65426 51.79
18/3/2010 590024 Fert & Chem Trv AMBIT SECURITIES BROKING PRIVATE LIMITED B 60914 51.69
18/3/2010 590024 Fert & Chem Trv A.A.DOSHI SHARE & STOCK BROKERS LTD B 44331 52.96
18/3/2010 590024 Fert & Chem Trv RAMAN KUMAR GULATI B 151881 52.30
18/3/2010 590024 Fert & Chem Trv RAMAN KUMAR GULATI S 151881 52.28
18/3/2010 590024 Fert & Chem Trv A.A.DOSHI SHARE & STOCK BROKERS LTD S 44331 52.66
18/3/2010 590024 Fert & Chem Trv AMBIT SECURITIES BROKING PRIVATE LIMITED S 60914 51.74
18/3/2010 590024 Fert & Chem Trv TRANSGLOBAL SECURITIES LTD. S 65426 51.95
18/3/2010 590024 Fert & Chem Trv B HIMANSHU DANI S 50051 51.76
18/3/2010 505720 Hercules Hoist SHEKHAR BAJAJ B 370000 219.00
18/3/2010 505720 Hercules Hoist KIRAN BAJAJ B 190000 222.50
18/3/2010 505720 Hercules Hoist RAHULKUMAR BAJAJ HUF S 190000 222.50
18/3/2010 505720 Hercules Hoist RAHULKUMAR BAJAJ S 370000 219.00
18/3/2010 530315 Hindustan Tin GENERAL INSURANCE CORPORATION OF INDIA B 60000 133.98
18/3/2010 511682 IFL Promoters SHIVCHARAN DASS MITTAL B 18000 9.01
18/3/2010 511682 IFL Promoters SHAMSUNDER GUPTA B 24905 9.59
18/3/2010 511682 IFL Promoters SHAMSUNDER GUPTA S 25000 9.01
18/3/2010 511682 IFL Promoters SHIVCHARAN DASS MITTAL S 15805 9.85
18/3/2010 509684 India Foils ESS DEE ALUMINIUM LTD S 596128 5.65
18/3/2010 500204 India Sec SUBODH MASKARA B 1230982 13.63
18/3/2010 530747 Indo Asian Fin MUTHAA MAMTHA ABHILASH S 29381 16.70
18/3/2010 532150 Indraprastha Med APOLLO HOSPITALS ENTERPRISE LTD B 1974183 46.44
18/3/2010 532150 Indraprastha Med UNIQUE HOME HEALTH CARE LTD S 1972433 46.45
18/3/2010 531447 Insutech India ABSOLUTE LEASING & FINANCE PVT LTD S 61167 27.84
18/3/2010 520051 Jamna Auto MUKUND MOTOR PARTS PVT LTD B 130253 73.64
18/3/2010 531784 Kadamb Constr SILVERPEARL TRADING PRIVATE LIMITED S 79700 53.94
18/3/2010 531784 Kadamb Constr BANSAL VINIMAY (P) LTD. S 110000 54.00
18/3/2010 530955 Kailash Ficom VISHAL INFORMATION TECHNOLOGIES LTD B 155000 25.50
18/3/2010 530955 Kailash Ficom BIKASH SUREKA B 79500 25.50
18/3/2010 530955 Kailash Ficom VIJAYPATH TRADECOM PRIVATE LIMITED B 115000 25.67
18/3/2010 530955 Kailash Ficom ANNAPURNA MERCANTILE PVT. LTD. B 85000 25.50
18/3/2010 530955 Kailash Ficom KARAN R BAHL S 140001 25.50
18/3/2010 530955 Kailash Ficom KARAN RAJAN BAHL S 82611 25.54
18/3/2010 523810 Kaleidoscope Films CHEVIOT INTERNATIONAL LTD S 417530 7.47
18/3/2010 502933 Katare Spin VISHAL AGARWAL B 32966 17.93
18/3/2010 530255 KAY Power BAMPSL SECURITIES LTD B 204035 16.78
18/3/2010 530255 KAY Power PRAKASH CHAND GUPTA B 115500 16.30
18/3/2010 530255 KAY Power ANJALI KAUSHIK B 89115 16.37
18/3/2010 530255 KAY Power SUNDER DASS AGARWAL B 135100 17.04
18/3/2010 530255 KAY Power GIRRAJ PRASAD GUPTA B 100500 16.30
18/3/2010 530255 KAY Power GIRRAJ PRASAD GUPTA S 99000 16.85
18/3/2010 530255 KAY Power PRAKASHCHAND GUPTA S 100000 17.09
18/3/2010 530255 KAY Power BAMPSL SECURITIES LTD S 355908 16.32
18/3/2010 530255 KAY Power NAVAL KISHORE GUPTA S 174636 16.30
18/3/2010 530255 KAY Power KAUSHALYA GARG S 172000 16.30
18/3/2010 507946 Kiduja India VIDYA S JAIN B 15424 31.00
18/3/2010 532889 KPR Mill KOTAK MAHINDRA CAPITAL COMPANY LIMITED S 225000 107.00
18/3/2010 514036 Loyal Textile MAYUR M.KOTHARI HUF B 50000 144.25
18/3/2010 514036 Loyal Textile MAYUR MANGALDAS KOTHARI S 50000 144.25
18/3/2010 514450 Mahalaxmi Rub MUKESH KUSHIRAM WADHWANI B 49942 96.82
18/3/2010 590111 MASTER P T N V AMBICA RAMA SUDARSHAN B 51000 38.39
18/3/2010 590111 MASTER P T N V AMBICA RAMASUDARSAN S 56679 38.40
18/3/2010 512267 Media Matrix ANIL BABULAL VEDMEHTA B 505007 6.29
18/3/2010 512267 Media Matrix RAMESH KUMAR HARAN S 498357 6.30
18/3/2010 532724 Mounteverest Trd SUVIGYA JAIN B 38418 157.89
18/3/2010 532724 Mounteverest Trd AAMOD SECURITIES PRIVATE LTD B 13007 157.92
18/3/2010 532724 Mounteverest Trd AAMOD SECURITIES B 19000 157.46
18/3/2010 532724 Mounteverest Trd BP FINTRADE PRIVATE LIMITED B 8001 157.95
18/3/2010 532724 Mounteverest Trd APL INFRASTRUCTURE PRIVATE LIMITED S 120000 157.51
18/3/2010 532724 Mounteverest Trd BHUVNESHKUMAR BANSAL S 8000 157.95
18/3/2010 531834 Natura Hue Chem AHMED SAYED B 31000 16.02
18/3/2010 531834 Natura Hue Chem JMP SECURITIES PVT LTD B 87227 15.38
18/3/2010 531834 Natura Hue Chem JMP SECURITIES PVT LTD S 91441 16.13
18/3/2010 531834 Natura Hue Chem JYOTI PORTFOLIO LIMITED S 31100 15.36
18/3/2010 519560 Neha Intl A3N HOLDINGS S 170000 132.51
18/3/2010 532912 Net 4 India INDIA MAX INVESTMENT FUND LIMITED B 100000 88.30
18/3/2010 532986 Niraj Cement RAJIV GANDHI B 189188 52.20
18/3/2010 532986 Niraj Cement RAJIV GANDHI S 56075 51.29
18/3/2010 523670 Noida Medicare DHEERAJ KUMAR LOHIA B 45366 22.31
18/3/2010 531791 Novagold Petro NILESH KRUSHNA PALANDE S 40000 4.00
18/3/2010 531496 Omkar Overseas S N INVESTMENT B 32404 59.73
18/3/2010 531496 Omkar Overseas ARVIND KASHMIRILAL PUNJABI B 41500 60.26
18/3/2010 531496 Omkar Overseas ROHIT MANSUKHBHAI UNAGAR S 25103 59.95
18/3/2010 531496 Omkar Overseas FALGUNIBEN MAHAVIRBHAI GOHIL S 51500 60.42
18/3/2010 531496 Omkar Overseas PRADIPBHAI RAJNIKANT RAITHATHA S 25000 60.03
18/3/2010 512097 Oregon Comm SANCHETI SURENDRA RIKHABD B 9000 199.00
18/3/2010 512097 Oregon Comm SANJAYJETHALALSONI B 6100 202.30
18/3/2010 512097 Oregon Comm SHYAM CONSTRUCTION S 5000 201.00
18/3/2010 512097 Oregon Comm NIMAI AGENCIES PRIVATE LIMITED S 9000 199.73
18/3/2010 530923 Passari Cellu PRIMEX LTD B 35000 63.36
18/3/2010 530923 Passari Cellu BALWANT SINGH BISHT B 25786 62.32
18/3/2010 530923 Passari Cellu PROMILA JAIN S 25000 63.46
18/3/2010 530923 Passari Cellu TAJINDER SINGH S 34000 62.52
18/3/2010 504288 Polar Inds ANKUR CHOPRA HUF B 100000 4.49
18/3/2010 504288 Polar Inds JYOTI PORTFOLIO LIMITED S 100000 4.49
18/3/2010 509839 Punjab Wool GIRISH GULATI B 102471 6.24
18/3/2010 509839 Punjab Wool DHEERAJ KUMAR LOHIA B 88039 6.63
18/3/2010 509839 Punjab Wool HANSRAJ MALHOTRA S 143176 6.25
18/3/2010 531646 RFL Intl NILESH KRUSHNA PALANDE S 36388 8.00
18/3/2010 531716 Rids Securities ANUP BHAGCHAND AGRAWAL B 25000 24.71
18/3/2010 531781 Sapan Chem NILESH KRUSHNA PALANDE S 100000 5.49
18/3/2010 533056 SARK SYS DATTATRAYLAXMAN RAOPATIL S 50000 16.50
18/3/2010 524540 Secunderabad Health CHERUKURI KUTUMBA RAO B 20000 17.39
18/3/2010 524540 Secunderabad Health CHERUKURI SIRISHA S 18576 17.40
18/3/2010 532886 SEL Mfg Company SAFFRON FINANCE LIMITED B 228834 68.22
18/3/2010 532886 SEL Mfg Company SAFFRON FINANCE LIMITED S 228834 68.22
18/3/2010 532886 SEL Mfg Company CREDO INDIA THEMATIC FUND LIMITED S 152907 67.98
18/3/2010 531645 Southern Ispat RAJANBABU VENKATAMALLU GADDAM B 100000 24.36
18/3/2010 526133 Supertex Inds RAMESH KUMAR MISHRA B 903000 2.43
18/3/2010 526133 Supertex Inds RONAK ASHWIN CHOKSI B 1235000 2.42
18/3/2010 526133 Supertex Inds NILESH SEVENTIBHAI MEHTA S 1200000 2.42
18/3/2010 533164 TEXMO PIPES JINALBEN BHAVIKBHAI VORA B 100000 141.37
18/3/2010 533164 TEXMO PIPES A K G STOCK BROKERS PRIVATE LIMITED B 244959 129.91
18/3/2010 533164 TEXMO PIPES PINAC STOCK BROKERS PVT LTD B 169064 124.42
18/3/2010 533164 TEXMO PIPES SMART EQUITY BROKERS PRIVATE LIMITED B 240287 127.07
18/3/2010 533164 TEXMO PIPES GENUINE STOCK BROKERS PVT. LTD. B 564541 129.30
18/3/2010 533164 TEXMO PIPES PRUDENTIAL STOCK & SECURITIES LTD B 181736 126.85
18/3/2010 533164 TEXMO PIPES TRANSGLOBAL SECURITIES LTD. B 76343 132.26
18/3/2010 533164 TEXMO PIPES MARWADI SHARES AND FINANCE LTD. B 182544 126.32
18/3/2010 533164 TEXMO PIPES CHANDARANA INTERMIDIARY BROKERS PVT LTD B 222754 130.07
18/3/2010 533164 TEXMO PIPES GKN SECURITIES B 67078 127.72
18/3/2010 533164 TEXMO PIPES SANJEEV SINGHAL B 265084 129.36
18/3/2010 533164 TEXMO PIPES OPG SECURITIES P LTD B 182907 129.37
18/3/2010 533164 TEXMO PIPES SUSHILA DAVI BAFNA B 60000 121.21
18/3/2010 533164 TEXMO PIPES NEELAM R DEDHIA B 60000 133.14
18/3/2010 533164 TEXMO PIPES DEEPAK POPATLAL VORA B 151538 125.25
18/3/2010 533164 TEXMO PIPES NAVEEN TAPARIA B 87299 123.00
18/3/2010 533164 TEXMO PIPES DYNAMIC STOCK BROKING INDIA PVT LTD B 83243 125.98
18/3/2010 533164 TEXMO PIPES RKSV SECURITIES INDIA PRIVATE LIMITED B 117910 133.29
18/3/2010 533164 TEXMO PIPES R M SHARES TRADING PRIVATE LIMITED B 128722 125.82
18/3/2010 533164 TEXMO PIPES STANDARD SECURITIES & INVESTMENTS INTERMEDIATE LIMITED B 63161 126.59
18/3/2010 533164 TEXMO PIPES RKSV SECURITIES INDIA PRIVATE LIMITED S 117910 132.96
18/3/2010 533164 TEXMO PIPES STANDARD SECURITIES & INVESTMENTS INTERMEDIATE LIMITED S 63161 123.98
18/3/2010 533164 TEXMO PIPES DYNAMIC STOCK BROKING INDIA PVT LTD S 81243 127.11
18/3/2010 533164 TEXMO PIPES DEEPAK POPATLAL VORA S 151538 126.02
18/3/2010 533164 TEXMO PIPES NAVEEN TAPARIA S 87299 126.46
18/3/2010 533164 TEXMO PIPES SUSHILA DAVI BAFNA S 60000 121.71
18/3/2010 533164 TEXMO PIPES R M SHARES TRADING PRIVATE LIMITED S 128722 125.44
18/3/2010 533164 TEXMO PIPES GKN SECURITIES S 67078 127.27
18/3/2010 533164 TEXMO PIPES OPG SECURITIES P LTD S 182907 129.48
18/3/2010 533164 TEXMO PIPES MARWADI SHARES AND FINANCE LTD. S 182544 126.27
18/3/2010 533164 TEXMO PIPES SANJEEV SINGHAL S 265084 129.09
18/3/2010 533164 TEXMO PIPES CHANDARANA INTERMIDIARY BROKERS PVT LTD S 222754 129.94
18/3/2010 533164 TEXMO PIPES PINAC STOCK BROKERS PVT LTD S 169064 124.80
18/3/2010 533164 TEXMO PIPES TRANSGLOBAL SECURITIES LTD. S 76343 131.51
18/3/2010 533164 TEXMO PIPES PRUDENTIAL STOCK & SECURITIES LTD S 181736 123.49
18/3/2010 533164 TEXMO PIPES GENUINE STOCK BROKERS PVT. LTD. S 564541 129.03
18/3/2010 533164 TEXMO PIPES SMART EQUITY BROKERS PRIVATE LIMITED S 240287 127.17
18/3/2010 533164 TEXMO PIPES A K G STOCK BROKERS PRIVATE LIMITED S 244209 129.63
18/3/2010 533164 TEXMO PIPES JINALBEN BHAVIKBHAI VORA S 100000 132.32
18/3/2010 533171 UNITED BANK GENUINE STOCK BROKERS PVT. LTD. B 2134686 71.49
18/3/2010 533171 UNITED BANK GENUINE STOCK BROKERS PVT. LTD. S 2134686 71.53
18/3/2010 531390 Upsurge Invest SAROJ JUGAL MAHESHWARI S 50000 9.10
18/3/2010 531249 Well Pack Papers PANDYA YAMINIBEN M S 371158 29.13
* B - Buy, S - Sell
NSE Bulk Deals to Watch - March 18 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,A TO Z STOCK TRADE PRIVATE LIMITED,BUY,140018,929.02,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,BP FINTRADE PRIVATE LIMITED,BUY,197700,934.92,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,C D INTEGRATED SERVICES LTD.,BUY,184725,936.60,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,159644,938.67,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,DINESH MUNJAL(HUF),BUY,89968,938.10,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,328418,939.68,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,JMP SECURITIES PVT LTD,BUY,24015,942.60,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,318999,939.34,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,200641,934.77,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,79825,934.26,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,NEPTUNE FINCOT PVT LTD,BUY,87590,947.28,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,PRB SECURITIES PRIVATE LTD.,BUY,97744,933.72,-
18-MAR-2010,IVRCLINFRA,IVRCL Infra & Proj Ltd,GOLDMAN SACHS INVESTMENTS MAURITIUS I LTD,BUY,1220000,169.83,-
18-MAR-2010,JAYSREETEA,Jayashree Tea Ltd.,SWISS FINANCE CORPORATION (MAURITIUS) LIMITED,BUY,58052,340.32,-
18-MAR-2010,RENUKA,Shree Renuka Sugars Limit,BARCLAYS CAPITAL MAURITIUS LIMITED,BUY,1855000,76.27,-
18-MAR-2010,SELMCL,SEL Manufacturing Company,NEELANCHAL MERCANTILE PVT.LTD.,BUY,125000,67.03,-
18-MAR-2010,SELMCL,SEL Manufacturing Company,SAFFRON FINANCE LIMITED,BUY,676620,67.79,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,A TO Z STOCK TRADE PRIVATE LIMITED,BUY,203333,125.40,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,284325,129.38,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,BAFNA RAMESH KUMAR,BUY,95898,126.73,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,BIRMI DEVI,BUY,75000,125.00,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,BP FINTRADE PRIVATE LIMITED,BUY,80530,120.36,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,C D INTEGRATED SERVICES LTD.,BUY,82519,127.33,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,207007,129.94,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,CPR CAPITAL SERVICES LTD.,BUY,84016,130.37,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,DHRUMIL N CHOGANWALA,BUY,105259,122.91,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,DHYAN SECURITIES PVT LTD,BUY,59901,126.51,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,820584,128.62,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,GKN SECURITIES,BUY,99538,127.70,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,INDIA ADVANTAGE SECURITIES LTD.,BUY,74083,125.94,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,148831,127.49,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MANISH RATILAL SHAH,BUY,177281,125.00,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,263997,126.22,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,122098,128.44,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,OM INVESTMENTS,BUY,181186,130.57,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,PINAC STOCK BROKERS PVT LTD,BUY,592316,121.94,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,PRUDENTIAL STOCK & SECURITIES LTD,BUY,184748,124.88,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R S SINDHU,BUY,164887,129.69,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R.M. SHARE TRADING PVT LTD,BUY,133799,126.05,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SETU SECURITIES LTD,BUY,89420,121.28,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SMITA M PATEL,BUY,86686,127.00,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,STANDARD SECURITIES & INVESTMENT INTERMEDIATES LIMITED,BUY,72611,125.17,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,95584,133.40,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,VAIBHAV DOSHI,BUY,164413,124.71,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,VIMALA.S.,BUY,63191,124.59,-
18-MAR-2010,UNITEDBNK,United Bank of India,BIRLA SUN LIFE INSURANCE CO LTD,BUY,2126000,71.93,-
18-MAR-2010,UNITEDBNK,United Bank of India,GENUINE STOCK BROKERS PVT LTD,BUY,2425702,71.23,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,A TO Z STOCK TRADE PRIVATE LIMITED,SELL,140018,929.23,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,BP FINTRADE PRIVATE LIMITED,SELL,197999,935.53,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,C D INTEGRATED SERVICES LTD.,SELL,184725,937.11,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,SELL,159644,939.24,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,DINESH MUNJAL(HUF),SELL,89968,940.10,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,328418,940.11,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,JMP SECURITIES PVT LTD,SELL,93915,948.99,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MANIPUT INVESTMENTS PVT. LTD.,SELL,318999,940.01,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,200641,935.49,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,103048,939.33,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,NEPTUNE FINCOT PVT LTD,SELL,87590,947.91,-
18-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,PRB SECURITIES PRIVATE LTD.,SELL,97744,934.25,-
18-MAR-2010,GEMINI,Gemini Communication Limi,AYODHYAPATI INVESTMENT PVT.LTD,SELL,587787,25.56,-
18-MAR-2010,HANUNG,Hanung Toys and Textiles,TCG STOCK BROKING LTD,SELL,200000,180.25,-
18-MAR-2010,PIRLIFE,Piramal Life Sciences Lim,CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED,SELL,190803,110.47,-
18-MAR-2010,SELMCL,SEL Manufacturing Company,CREDO INDIA THEMATIC FUND LIMITED,SELL,300000,68.00,-
18-MAR-2010,SELMCL,SEL Manufacturing Company,KII LIMITED ,SELL,126907,67.05,-
18-MAR-2010,SELMCL,SEL Manufacturing Company,KUVERA CAPITAL PARTNERS LLP A/C KUVERA FUND LIMITED,SELL,226896,67.10,-
18-MAR-2010,SELMCL,SEL Manufacturing Company,NEELANCHAL MERCANTILE PVT.LTD.,SELL,125000,68.53,-
18-MAR-2010,SELMCL,SEL Manufacturing Company,SAFFRON FINANCE LIMITED,SELL,676620,68.35,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,A TO Z STOCK TRADE PRIVATE LIMITED,SELL,203333,125.39,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,284325,129.78,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,BAFNA RAMESH KUMAR,SELL,95898,129.51,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,BIRMI DEVI,SELL,75000,132.22,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,BP FINTRADE PRIVATE LIMITED,SELL,80531,120.29,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,C D INTEGRATED SERVICES LTD.,SELL,82519,127.45,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,SELL,207007,130.16,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,CPR CAPITAL SERVICES LTD.,SELL,84016,130.40,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,DHRUMIL N CHOGANWALA,SELL,105259,129.61,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,DHYAN SECURITIES PVT LTD,SELL,59901,126.54,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,820584,128.91,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,GKN SECURITIES,SELL,99538,128.03,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,INDIA ADVANTAGE SECURITIES LTD.,SELL,74083,126.08,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MANIPUT INVESTMENTS PVT. LTD.,SELL,148831,127.45,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MANISH RATILAL SHAH,SELL,177281,129.18,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,263997,126.37,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MAVI INVESTMENT FUND LTD.,SELL,496828,125.00,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,148108,129.37,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,OM INVESTMENTS,SELL,181186,130.72,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,PINAC STOCK BROKERS PVT LTD,SELL,592316,121.45,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,PRUDENTIAL STOCK & SECURITIES LTD,SELL,184748,130.02,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R S SINDHU,SELL,164887,129.76,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R.M. SHARE TRADING PVT LTD,SELL,133799,126.55,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SETU SECURITIES LTD,SELL,89420,121.42,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SMITA M PATEL,SELL,86686,126.64,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,STANDARD SECURITIES & INVESTMENT INTERMEDIATES LIMITED,SELL,72611,127.31,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,95583,134.04,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,VAIBHAV DOSHI,SELL,164413,126.49,-
18-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,VIMALA.S.,SELL,63191,124.80,-
18-MAR-2010,UNITEDBNK,United Bank of India,GENUINE STOCK BROKERS PVT LTD,SELL,2425702,71.28,-
Nifty March 2010 futures at premium
Turnover declines
Nifty March 2010 futures were at 5,255.60, at a premium of 9.70 points over spot closing of 5,245.90. Turnover in NSE's futures & options (F&O) segment was Rs 73,500.18 crore, sharply lower than Rs 98,322.93 crore on Wednesday, 16 March 2010.
JSW Steel March 2010 futures were at a slight premium at 1251 compared to the spot closing of 1250.
Tata Steel March 2010 futures were near spot price at 640 compared to the spot closing of 640.50.
ICICI Bank March 2010 futures were at discount at 964.70 compared to the spot closing of 969.
In the cash market, the S&P CNX Nifty rose 14 points or 0.27% at 5,245.90.
Risk aversion glides Asia lower
Continued worries on Greece, stronger dollar hurt sentiments
Risk aversion came back in action as the markets waited for more clarity on the Greece bailout talks. The country may turn for financial help from the International Monetary Fund and the Asian benchmarks slipped today on the continued worries that a sovereign default by Greece may rattle the other European economies as well. Commodities were under pressure and US dollar rallied; prompting investors to lock in some of gains after the US stocks hit two months highs yesterday. The economic data is doing little in the current scenario and even though most of the market participants think that Greece can muddle through this year, it is unlikely to manage to do so in the next year without the support of the EU. The conditionality of such a support is a different thing and right now, the most critical thing for the markets is clarity.
The DOW had ended in green yesterday but it failed to enthuse the Asian stocks. Japanese markets slipped as the exporters were dragged lower. A decline in business confidence also contributed to the weakness. The benchmark Nikkei 225 index declined 1% by the close.
Chinese stocks had a volatile outing. About four stocks rose for every three that dropped on the Shanghai Composite Index, which fell 4.39, or 0.1 percent, to 3,046.09 at the close. The Shanghai index has lost 7.1 percent this year as the government twice increased the proportion of deposits banks need to set aside as reserves and re-imposed a tax on home sales.
In other markets, New Zealand's NZX 50 rose 0.6% and Philippine stocks ended up 0.45.
However, the Australian stocks closed marginally higher on late buying. Defensive stocks such as telecommunications, utilities and consumer staples fared best although mining stocks capped their gains despite higher commodity prices. The benchmark S&P/ASX200 index was up 9.9 points, or 0.2 per cent, to 4863.1 points, while the broader All Ordinaries index added 10.8 points, or 0.22 per cent, to 4,877.7 points.
In Mumbai, the key benchmark indices surged to the day's highs at the fag end of the trade after global rating agency Standard & Poor's revised India's rating outlook to stable from negative. S&P affirmed the 'BBB-' long-term and 'A-3' short-term sovereign credit ratings on India. Banking and metal stocks rose. The BSE 30-share Sensex was up provisionally up 44.46 points or 0.25%, up close to 115 points from the day's low. But the market breadth was negative.
On Wall Street, stocks saw moderate strength on Wednesday amid fairly encouraging economic reports. The major averages ended the day firmly in positive territory, reaching their best closing levels in over a year. The Dow advanced by 47.7 points or 0.5% to 10,733.7, the Nasdaq closed up 11.1 points or 0.5% at 2,389.1 and the S&P 500 ended up 6.8 points or 0.6% at 1,166.2.
The US dollar hovered under 1.3700 mark against the Euro though the currency gave some of the yesterday's gains away, backtracking from a high of 1.3647. Crude oil slipped under $82 for a while and rebounded. The commodity was last seen quoting at $82.39, down 54 cents from the previous close.
United Bank of India logs tepid gains on debut
Settles at Rs 68.80 on BSE, a 3.93% premium over the IPO price
Shares of the state-run United Bank of India (UBI) settled at Rs 68.80 on BSE, a 3.93% premium over the initial public offer price of Rs 66.
The stock debuted at Rs 77, a 16.66% premium over its initial public offer price of Rs 66 per share. The stock hit a high of Rs 77 and low of Rs 68.10
The counter clocked volume of 2.82 crore shares on the BSE.
The state-run lender had priced initial public offer (IPO) at Rs 66 per share, at the upper end of the Rs 60-66 per share price band, raising Rs 324.98 crore. The bank offered the shares to retail investors and employees at 5% discount to the issue price.
The bank's IPO was subscribed 33.38 times and garnered bids for 166.88 crore shares as against 5 crore shares on offer. The bank's IPO remained open for bidding between 23 and 25 February 2010.
The UBI IPO saw high demand from institutional investors. The portion reserved for qualified institutional buyers (QIB) category was subscribed 47.08 times while that of non-institutional investors was subscribed 39.15 times. Retail investor portion was bid 9.80 times. However, employees quota remained undersubscribed and got bids for 13.25 lakh shares as against 25 lakh shares reserved for them
UBI has its presence predominantly in the north and north-east India. Following the IPO, the government's stake in the Kolkata-headquartered bank has declined to 84.20%, from 100%.
The bank would be utilising the IPO proceeds to expand its balance sheet and augment capital base
Bank stocks lead late rebound as S&P raises outlook on sovereign rating
The key benchmark indices surged to the day's highs at the fag end of the trade after global rating agency Standard & Poor's revised India's rating outlook to stable from negative. S&P affirmed the 'BBB-' long-term and 'A-3' short-term sovereign credit ratings on India. Index heavyweight Reliance Industries (RIL) edged higher. But, capital goods, FMCG stocks fell. Auto stocks were mixed. Banking and metal stocks rose. The BSE 30-share Sensex was up provisionally up 44.46 points or 0.25%, up close to 115 points from the day's low. But the market breadth was negative.
The revision in outlook reflects S&P's view that India's fiscal position could now begin to recover and that its economy will remain on a strong growth path. The government budget targets a general government (including central and state governments) deficit of 8.3% in the fiscal year ending 31 March 2011, from 9.8% in the previous fiscal year, S&P said. S&P also estimated that India's gross domestic product will grow 8% in the year ending March 31, 2011, higher than its forecast earlier, adding India's external position was resilient. Even so, India's ratings continue to be constrained by the government's high debt burden and deficit, as well as India's weak fiscal profile, the rating agency said.
Stocks were volatile as traders rolled over positions in the derivatives segment from the March 2010 series to the April 2010 series ahead of the expiry of the near-month March 2010 contracts on Thursday, 25 March 2010. The Sensex slipped into the red soon after initial gains. The market regained positive zone shortly. The market once again slipped into the red, with the Sensex hitting a fresh day's low in mid-morning trade.
The market recouped entire losses later. However, the intraday recovery proved short-lived. The Sensex hit a fresh intraday low in early afternoon trade. The market hit fresh intraday low in afternoon trade as Asian stocks fell. The market cut losses soon after hitting a fresh intraday low in mid-afternoon trade. The market regained positive zone later. The Sensex surged to the day's at the fag end of the trading session following the S&P upgrade.
The stock market remains closed on Wednesday, 24 March 2010, on account of Ram Navmi.
The food price inflation eased in early March 2010 but fuel inflation continued to rise, adding upward pressure on headline inflation and maintaining the case for the Reserve Bank of India (RBI) to raise rates at its April 2010 policy review. Data released on Thursday showed the food price index rose 16.30% in the year to 6 March 2010, lower than an annual rise of 17.81% in the previous week, continuing a downward trend for the second straight week.
However, a decision in late February 2010 to raise retail fuel prices has stoked fuel price inflation. The fuel price index rose 12.68% in the year to 6 March 2010 up from an annual rise of 11.38% in the previous week. The primary articles index was up 14.16% in the year to 6 March 2010.
The headline inflation topped expectations and came within touching distance of double digits in February 2010, making a rate increase by the Reserve Bank all but inevitable at its scheduled April 2010 policy review. Annual wholesale price inflation accelerated to 9.89% in February, the highest since October 2008 and well above the Reserve Bank of India's end-March projection of 8.5% and the 8.56% January reading.
The inflation data comes on the heels of a 16.7% annual jump in industrial output in January, with the unexpectedly strong economic pickup also backing the case for the central bank to raise policy rates by at least 25 basis points.
With growth firmly on track and inflation rising beyond its comfort zone, the Reserve Bank of India (RBI) should consider carefully returning to normal monetary policy, deputy chairman of the Planning Commission Montek Singh Ahluwalia said on Wednesday.
Coming back to stocks, encouraging Q4 March 2010 advance tax figures of top Indian firms, indicating good Q4 March 2010 results, boosted the bourses in the past three days. The Sensex hit a 2-month high on Wednesday, 17 March 2010. The market has also witnessed a strong post-Budget rally driven by sustained buying by foreign funds since the presentation of the Union Budget 2010-2011 on 26 February 2010. As per data from the stock exchanges, foreign institutional investors (FIIs) bought stocks worth a net Rs 10041.13 crore this month, till 17 March 2010.
The stock market has applauded the Union Budget 2010-2011 due to its thrust on infrastructure development, government's pledge to reduce fiscal deficit over the next three years, a smaller-than-expected 2% hike in excise duties, and reduction in taxes for individuals which will boost disposable income. The Finance Minister has assumed a modest GDP of about 8% and inflation of about 4.5% for 2010-2011.
Going ahead, the key triggers for the stock market are structural reforms such as decontrol of petrol and diesel prices, targeting of food subsidies, and financial sector reforms such as increase in foreign direct investment in insurance sector.
Several companies have paid a higher tax this quarter according to the preliminary data, indicating better fourth quarter results. Reliance Industries has paid Rs 770 crore as advance tax for the March quarter compared with Rs 365 crore a year ago. Infosys' tax outgo has doubled to Rs 250 crore from Rs 125 crore. Tata Consultancy Services paid Rs 178 crore, compared from Rs 53 crore earlier. State-run Union Bank of India paid Rs 185 crore compared with Rs 253 crore a year ago. ICICI Bank's Q3 advance tax stood at Rs 350 crore versus Rs 250 crore a year ago. Asian Paints paid Rs 60 crore, versus Rs 43 crore year earlier.
State Bank of India has paid Rs 1857 crore verses Rs 1810. HDFC paid Rs 280 crore, unchanged from a year earlier. Tata Motors paid Rs 115 crore versus Nil a year ago. Bank of Baroda paid Rs 300 crore verses Rs 280. Zee Entertainment Enterprises paid Rs 97 crore versus Rs 109. Tata Steel paid Rs 513 crore versus Rs 406 crore. L&T paid Rs 270 crore versus Rs 275 crore. Bajaj Auto paid Rs 177 crore versus Rs 60 crore. M&M paid Rs 235 crore versus nil a year earlier.
Cement maker ACC paid Rs 330 crore compared to Rs 340 crore a year ago. Ambuja Cement paid Rs 120 crore, compared with Rs 125 crore a year ago. Aditya Birla Group firm Grasim Industries paid Rs 216 crore as advance tax in the period under review, as compared to Rs 65 crore a year ago. Life Insurance Corp of India (LIC) has paid Rs 864 crore as advance tax for the March quarter, compared with Rs 810 crore year ago.
Meanwhile, a core group of central ministers and state chief ministers will reportedly work out a long-term strategy for sustained agricultural growth to strengthen the government's efforts to tame soaring food prices and address concerns over food security. The core group, set up by the prime minister on Monday, comprises finance minister Pranab Mukherjee, agricultural minister Sharad Pawar and chief ministers of 10 key states.
The United States and India signed an agreement on Wednesday to strengthen trade and investment ties following through on a pledge leaders of the two countries made last year.
European shares slipped back from the previous session's 17-month closing highs in early trade on Thursday, with banks and commodity stocks taking the most points off a key index. The key benchmark indices in France, Germany and UK fell by between 0.07% to 0.34%.
Asian stock markets fell on Thursday on reports Greek may seek financial help from the International Monetary Fund over the April 2-4 Easter weekend due to little hope for aid from the European Union. The key benchmark indices in China, Hong Kong, Singapore, Indonesia, Japan, and South Korea fell by between 0.14% to 0.95%. But, Taiwan's Taiwan Weighted rose 0.49%.
Trading in US index futures indicated that the Dow could shed 9 points at the opening bell on Thursday, 18 March 2010.
Investors will look at weekly US jobless claims data, due later in the global day for clues on the strength of the recovery in the world's biggest economy
US markets moved higher for the third straight session & hit afresh 52-week highs on Wednesday, 17 March 2010. Renewed pledge from the Fed for low rates and a drop in inflation at the producer level helped fuel the market's momentum. Producer prices for February fell 0.6%, which was a sharper drop than expected, but core prices climbed a tame 0.1%, as expected.
The Dow Jones Industrial Average closed 47.69 points or 0.45% higher at 10,733.67. The Nasdaq Composite ended at 2,389.09, up 11.08 points or 0.47% and the S&P 500 was at 1,166.21, up 6.75 points or 0.58%.
Closer home, the BSE 30-share Sensex was up 44.46 points or 0.25% to 17,534.54 as per provisional figures. The barometer index rose 58.05 points at the high of 17,548.13 at the fag end of the trading session. The Sensex fell 72.47 points at the day's low of 17,417.61 in mid-afternoon trade.
The S&P CNX Nifty was up 19 points or 0.36% at 5250.90 as per provisional figures.
The BSE Mid-Cap index rose 0.37% and the BSE Small-Cap index rose 0.06%.
BSE clocked at turnover of Rs 5188 crore, slightly higher than Rs 5122.93 crore on Wednesday, 17 March 2010.
The market breadth, indicating overall health of the market was weak. The breadth was positive earlier in the day. On BSE, 1222 shares advanced as compared with 1596 that declined. A total of 101 shares remained unchanged.
Among the 30 Sensex stocks, 15 stocks fell and the rest rose.
Index heavyweight Reliance Industries (RIL) rose 0.65% to Rs 1073.50, extending recent rally triggered by expectations of good Q4 March 2010 results. But the stock was volatile. It moved between positive and negative zone on alternate bouts of buying and selling. It hit a low of Rs 1062.30 and a high Rs 1078.50. As per the market buzz, RIL's Q4 advance tax surged to Rs 770 crore in Q4 March 2010 from Rs Rs 365 crore a year ago. Meanwhile, Reliance Industries is reportedly seeking a joint venture with Atlas Energy to develop the US firm's Marcellus Shale gas operations.
Reliance Industries on Sunday, 14 March 2010 announced a sports and entertainment joint venture with IMG Worldwide, a global leader in sports marketing and management. The equal venture, IMG Reliance, will set up modern infrastructure and coaching facilities for sports and create and operate sports and entertainment assets including celebrity management.
India's second largest software services exporter by sales Infosys rose 1.83% to Rs 2789.40, gaining for the third straight day. It hit an all-time high of Rs 2792.15 today. Its ADR rose 1.7% on Wednesday. Infosys' fourth quarter advance tax payment doubled.
Banking stocks reversed early fall on bargain hunting. India's largest bank by net profit and branch network State Bank of India (SBI) rose 1.03%. The bank has not sought the government's nod for a rights issue or a follow-on share issue, a senior finance ministry official said on Wednesday. R. Gopalan, secretary for financial services, also said there is no plan to bar banks from non-core activities.
SBI's Q4 advance tax payment rose to Rs 1857 crore from Rs 1810 a year earlier. A bill seeking to reduce Centre's shareholding in the SBI from 55% now to 51% and to allow the bank to raise more capital from the market through preference shares, was introduced in the Lok Sabha recently. The amendment bill seeks to provide for enhancement of the capital of SBI by issue of preference shares, to enable it to raise resources from the market by public issue or preferential allotment or private placement. The bill also aims to provide for flexibility in the management of the bank
India's largest private sector bank by net profit HDFC Bank rose 0.04%. Its ADR rose 0.56% on Tuesday.
India's largest private sector bank by net profit ICICI Bank rose 1.36%, gaining for the third straight day. The bank's Q3 advance tax payment surged to Rs 350 crore versus Rs 250 crore a year ago. Its ADR rose 2.55% on Tuesday.
Metal stocks rose after LMEX, a gauge of six metals traded on the London Metal Exchange, rose 1.67% on Wednesday, 17 March 2010. Steel Authority of India, National Aluminum Company, Jindal Saw, Jindal Steel & Power, JSW Steel, Hindalco Industries rose by between 0.17% to 2.36%.
India's largest steel maker by sales Tata Steel rose 1.12%, gaining for the straight fourth day. Its Q4 advance tax payment rose to Rs 513 crore from Rs 406 crore a year earlier.
Auto stocks were mixed. India's largest bike maker by sales Hero Honda Motors rose 0.58%, reversing early fall. Hero Honda has shortlisted Karnataka as one of the states for setting up its fourth manufacturing plant. Hero Honda Motors has reportedly proposed an investment of Rs 2,000 crore for the upcoming plant.
India's largest car maker by sales Maruti Suzuki India fell 1.01%, extending recent losses triggered by fears increase in competition may dent sales. Last week Ford India entered the small car market with 'Figo'.
Maruti Suzuki India, last week said that Japanese auto giant Nissan has placed orders for 35,000 units of its small car A- Star for 2010-11 to sell it in the European market. Nissan sources the A-Star from Maruti's Manesar facility and sells it in the European market as 'Pixo'.
India's largest tractor maker by sales Mahindra & Mahindra (M&M) fell 3.02%, extending Wednesday's 0.9% decline. The company paid Rs 235 crore in advance tax in Q4 March 2010 versus nil payment a year earlier.
India's largest commercial vehicle maker by sales Tata Motors' was flat. Tata group's global sales rose 59% in February from a year earlier, the company said in a statement on Monday.
A rise in raw material prices coupled with costs associated with new emission norms could force them to increase prices further, which may hit volumes. The government raised excise duties on large cars and sport utility vehicles by 2%, which was immediately passed on by vehicles makers, including top carmaker Maruti Suzuki and utility vehicle makers Mahindra & Mahindra and Tata Motors. From 1 April 2010, all vehicles will have to comply with Euro IV emission norms across 13 major cities, adding to costs and setting the stage for another round of price hikes.
India's largest engineering & construction firm by sales Larsen & Toubro (L&T) was flat at Rs 1624. The stock came off the day's low of Rs 1601.10. The company on Wednesday said it got orders worth Rs 1013 crore. The company on Monday said that it won orders worth Rs 2000 crore. L&T's advance tax payment fell marginally to Rs 270 crore in Q4 March 2010 from Rs 275 crore a year earlier.
Among other capital goods stocks, Bharat Hevy Electricals, SKF India, ABB, Siemens, Praj Industries, Crompton Greaves fell by between 0.15% to 2.18%.
ITC, India's top cigarette maker by sales, fell 1.12%. As per recent reports, ITC has increased prices by up to 20% following a duty hike in the Budget. A sharp hike in prices has in the past impacted volumes of the cigarette major negatively.
ITC, which had increased the prices of its flagship brand Gold Flake Kings by 7% prior to the Budget, has raised prices again by 8% to 20% across all brands, reports suggest. Cigarette business generates more than half of ITC's revenue and was the biggest contributor to its profit during the December 2009 quarter.
Among other FMCG stocks, Dabur India, Tata Tea, Britannia Industries and United Spirits fell by between 0.09% to 1.8%.
But, Hindustan Unilever rose 0.36%. According to reports, the company plans to take legal action against striking workers at its Haldia factory, where work has stopped since 2 March 2010 due to a strike by the Hindustan Unilever Shramik Union.
Tyre makers rose on recent reports tyre manufacturers are mulling a price hike following a surge in natural rubber prices. Apollo Tyres, CEAT, J K Tyre and Industries and MRF rose by between 2.85% to 10.88%. While companies such as CEAT and Birla Tyres have reportedly decided to hike prices by 2-5%, others like Apollo Tyres and JK Tyre are closely tracking the market before taking a final call on the quantum of increase.
Triveni Engineering & Industries rose 1.89%, extending gains for the third straight day after the company's board approved demerger of the steam turbine business into a separate company to be named Triveni Turbines.
Persistent Grey Market Premium NMDC
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| United Bank of | 66 | 7 to 10 |
| DQ Entertainment (Inter.) | 75 to 80 | 53 to 55 |
| NMDC (FPO) | 300 | 25 to 30 |
| Pradip Overseas | 100 to 110 | 17 to 18 |
| ILFS Transportation | 242 to 258 | 37 to 38 |
| Persistent Sys. | 290 to 310 | 160 to 162 |
| Shree Ganesh Jewellery | 260 to 270 | 18 to 20 |
| Infrasoft Technology | 137 to 145 | -- |
Daily Call - March 18 2010
US markets continued their northward journey by putting on nearly half a percent in yesterday’s trade. Dow gained for the seventh consecutive day and closed at the highest level since 1st October 2008. European markets too gained and hit a 17 month closing high.
After yesterday’s gain, Nifty is now just 1.5% away from 5310, the high made in January. While the volumes were encouraging, broader market participation, which picked up after many sessions on Tuesday, faltered again in yesterday’s trade. FIIs bought index futures worth 874 cr. and Index options worth Rs. 799 cr. while provisional buying in cash segment stood at Rs. 815 cr. Put-call ratio rose to 1.61 from 1.56 on Tuesday on the back of substantial increase in open interest in 5300 and 5200 strike puts. Immediate support is place around 5158 while possible target on the upside is 5310.
Market may remain volatile on mixed Asian stocks; food inflation data eyed
The market may remain volatile on mixed Asian stocks. Closer home, the government will unveil data on some wholesale price indices for the year through 6 March 2010 viz. the food price index, the primary articles index and the fuel price index at 12:00 IST.
Equities have witnessed a strong post-Budget rally driven by sustained buying by foreign funds since the presentation of the Union Budget 2010-2011 on 26 February 2010. As per data from the stock exchanges, foreign institutional investors (FIIs) bought stocks worth a net Rs 9225.19 crore this month, till 16 March 2010.
The stock market has applauded the Union Budget 2010-2011 due to its thrust on infrastructure development, government's pledge to reduce fiscal deficit over the next three years, a smaller-than-expected 2% hike in excise duties, and reduction in taxes for individuals which will boost disposable income. The Finance Minister has assumed a modest GDP of about 8% and inflation of about 4.5% for 2010-2011.
Going ahead, the key triggers for the stock market are structural reforms such as decontrol of petrol and diesel prices, targeting of food subsidies, and financial sector reforms such as increase in foreign direct investment in insurance sector.
The several companies have paid a higher tax this quarter according to the preliminary data, indicating better fourth quarter results. Reliance Industries has paid Rs 770 crore as advance tax for the March quarter compared with Rs 365 crore a year ago. Infosys' tax outgo has doubled to Rs 250 crore from Rs 125 crore. Tata Consultancy Services paid Rs 178 crore, compared from Rs 53 crore earlier. State-run Union Bank of India paid Rs 185 crore compared with Rs 253 crore a year ago. ICICI Bank's Q3 advance tax stood at Rs 350 crore versus Rs 250 crore a year ago. Asian Paints paid Rs 60 crore, versus Rs 43 crore year earlier.
State Bank of India has paid Rs 1857 crore verses Rs 1810. HDFC paid Rs 280 crore, unchanged from a year earlier. Tata Motors paid Rs 115 crore versus Nil a year ago. Bank of Baroda paid Rs 300 crore verses Rs 280. Zee Entertainment Enterprises paid Rs 97 crore versus Rs 109. Tata Steel paid Rs 513 crore versus Rs 406 crore. L&T paid Rs 270 crore versus Rs 275 crore. Bajaj Auto paid Rs 177 crore versus Rs 60 crore. M&M paid Rs 235 crore versus nil a year earlier.
Cement maker ACC paid Rs 330 crore compared to Rs 340 crore a year ago. Ambuja Cement paid Rs 120 crore, compared with Rs 125 crore a year ago. Aditya Birla Group firm Grasim Industries paid Rs 216 crore as advance tax in the period under review, as compared to Rs 65 crore a year ago. Life Insurance Corp of India (LIC) has paid Rs 864 crore as advance tax for the March quarter, compared with Rs 810 crore year ago.
On the macro front, the headline inflation topped expectations and came within touching distance of double digits in February 2010, making a rate increase by the Reserve Bank all but inevitable at its scheduled April 2010 policy review. Annual wholesale price inflation accelerated to 9.89% in February, the highest since October 2008 and well above the Reserve Bank of India's end-March projection of 8.5% and the 8.56% January reading.
The inflation data comes on the heels of a 16.7% annual jump in industrial output in January, with the unexpectedly strong economic pickup also backing the case for the central bank to raise policy rates by at least 25 basis points.
With growth firmly on track and inflation rising beyond its comfort zone, the Reserve Bank of India (RBI) should consider carefully returning to normal monetary policy, deputy chairman of the Planning Commission Montek Singh Ahluwalia said on Wednesday.
A core group of central ministers and state chief ministers will reportedly work out a long-term strategy for sustained agricultural growth to strengthen the government's efforts to tame soaring food prices and address concerns over food security. The core group, set up by the prime minister on Monday, comprises finance minister Pranab Mukherjee, agricultural minister Sharad Pawar and chief ministers of 10 key states.
Meanwhile, the United States and India signed an agreement on Wednesday to strengthen trade and investment ties, following through on a pledge leaders of the two countries made last year
Asian shares were mixed on Thursday, with shipbuilders trading down in South Korea on news of an order cancellation for Hyundai Heavy. The key benchmark indices in Hong Kong, japan, and Singapore fell by between 0.01% to 0.21%. But, the key benchmark indices in China, Indonesia, South Korea and Taiwan rose by between 0.04% to 0.4%.
The US markets moved higher for the third straight session & hit afresh 52-week high along the way on Wednesday, 17 March 2010. Renewed pledge from the Fed for low rates and a drop in inflation at the producer level helped fuel the market's momentum. Producer prices for February fell 0.6%, which was a sharper drop than expected, but core prices climbed a tame 0.1%, as expected.
The Dow Jones Industrial Average closed 47.69 points or 0.45% higher at 10,733.67. The Nasdaq Composite ended at 2,389.09, up 11.08 points or 0.47% and the S&P 500 was at 1,166.21, up 6.75 points or 0.58%.
Close home, the key benchmark indices attained their highest closing level in two months on Wednesday, 17 March 2010 as world stocks rose after the US Fed held benchmark rates near zero and maintained its pledge to keep them low for an extended period. The BSE 30-share Sensex rose 106.90 points or 0.61% to 17,490.08 its highest since 18 January 2010 on Wednesday.
As per provisional figure on NSE, foreign funds bought shares worth Rs 815.94 crore and domestic funds sold shares worth Rs 297.72 crore on Wednesday.
Bullion metals add little shine
Prices go up despite dollar gaining marginally
Precious metal prices ended little higher on Wednesday, 17 March 2010. Prices rose as the dollar stayed steady following yesterday's comments from Federal Open Market Committee regarding keeping interest rates low for quite some period now.
Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa.
On Wednesday, gold for April delivery ended at $1,124.2 an ounce, higher by $1.7 (0.2%) an ounce on the New York Mercantile Exchange. Last week, gold fell 2.4%. In FY 2010, gold touched a high of $1,154 in January.
On Wednesday, May Comex silver futures ended higher by 16.6 cents (0.9%) at $17.502 an ounce. Last week, silver ended lower by almost 1.9%.
The latest FOMC policy statement that came out yesterday was little changed from previous directives. The Fed has left its target federal funds rate unchanged at a range of 0.00% to 0.25% and the Fed said that it continues to expect an exceptionally low level for an extended period.
In the currency market on Wednesday, the dollar index gained slightly and remained slipped up following Fed's comments.
The latest dose of U.S. data showed a sharper-than-expected decline in overall prices and an in-line increase in core prices. The Labor Department's Producer Price Index declined 0.6% in February, its largest drop in seven months. Taking out food and energy costs, the index gained 0.1%.
On Capitol Hill, Federal Reserve Chairman Ben Bernanke testified on Wednesday about efforts to reform banking regulation, telling Congress the Fed's participation in the oversight of banks improves its ability to carry out its monetary goals.
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 31 (0.18%) at Rs 16,687 per ten grams. Prices rose to a high of Rs 16,803 per 10 grams and fell to a low of Rs 16,655 per 10 grams during the day's trading.
At the MCX, silver prices for May delivery closed Rs 132 (0.48%) higher at Rs 27,169/Kg. Prices opened at Rs 27,082/kg and rose to a high of Rs 27,258/Kg during the day's trading.
Daily News Roundup - March 18 2010
NTPC and IOC plan JV to manufacture bio-diesel and special lubricants for the power plant. (ET)
S&P revises its outlook on Tata Motors to positive from negative. (BS)
TCS to hire 30,000 employees in the next fiscal year.
L&T gets Rs10bn order for ONGC well platforms. (BL)
Gail has set a target of transmitting 114.8mscmd of natural gas from domestic sources and through liquefied natural gas during FY11. (ET)
TCS, Wipro and Spanco have been short-listed for Rs1bn project designed to automate the emigration process in India. (BL)
Lupin gets US FDA approval for anti-depressant drug. (ET)
Rcom has tied up with US based Polycom to provide video conferencing services in India. (ET)
Tata Communication to bid in the forthcoming auction of wireless broadband spectrum. (ET)
Government appointed special auditors have given clean chit to Idea Cellular. (ET)
Dalmia Cement to split into four businesses – Sugar, Power, Cement and Refractory. (ET)
Quippo Telecom agrees to buy the telecom infrastructure company owned by Tata Teleservices (Maharashtra). (BL)
Godrej group is scouting for buyout in developing countries to expand operations. (BS)
Birla Power Solution to invest nearly Rs50bn in three years to set-up thermal and solar power plants. (ET)
Venus Remedies is planning to foray into European drug market with innovative generic injectables and cancer drugs. (BS)
Vishal Retail had overstated profit and under reported losses according to its auditors. (BS)
Yash Birla Group to invest Rs55bn in power and lifestyle. (BS)
Lakshmi Mittal in talks to buy strategic stake in unlisted Bhushan Power and Steel. (ET)
Railways hikes iron ore export freight. (BL)
Government to decide on infusing Rs165bn in public sector banks by the end of next month. (BS)
Railways plans to hike freight rates by 10-15% on bulk commodities. (ET)
Government is planning sovereign wealth fund to help PSU oil companies to acquire oil assets abroad. (ET)
Government of Maharashtra has increased VAT by 1% on 94 products. (ET)
Heading a long way!
You can go a long way with bad legs and a good head - Gavin McDonald.
Call it window dressing, short-covering or anything you like; the indices which struggled for some time post the Budget, is now steadily moving up. The Nifty now looks set to conquer its previous 52-week high of 5311 shortly, unless something untoward takes place in the interim.
FII inflows have been consistently positive but the local funds have been sellers. With the fiscal year drawing to a close, there may be some ‘window dressing’ by the local funds to perk up NAVs. If that does happen, the Nifty could well scale new heights. Even as the markets move, there is a lingering fear that April may be cruel.
Today we expect a positive opening with markets in the US and Europe hitting new 2010 peaks. Asian markets though are mixed and relatively subdued. Hopefully, that shouldn’t deter the bulls here in India.
In the event of a fresh fall, the Nifty may find support near 5200. One big challenge will be to sustain above 5300 amid growing concerns over stubbornly high inflation and an impending rate hike.
FIIs were net buyers in the cash segment on Wednesday at Rs8.16bn on a provisional basis. Local funds were net sellers of Rs2.98bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers of Rs15.31bn.
Shares of public sector lender United Bank of India will be listed on the stock exchanges today. The state-run bank fixed the issue price of its IPO at Rs66 per share - the upper end of its price band - raising Rs3.25bn through the issue. The IPO was subscribed over 33 times.
The Hang Seng Benchmark Exchange Traded Fund (Hang Seng BeES) will be available on the National Stock Exchange (NSE) from today as well. Hang Seng Benchmark Exchange Traded Scheme is an open-ended scheme tracking Hang Seng index, which comprises 42 companies, including HSBC Holdings, China Mobile, Bank of China, Cathay Pacific Airways and China Construction Bank Corp.
The Board of Dalmia Cement (Bharat) Ltd. will meet today to consider a restructuring proposal of the businesses of the company and its subsidiaries. Reports suggest that the company will split into four different units for each of the businesses - cement, sugar, power and refractory.
Indowind Energy Ltd. Board will meet today to consider the Term Loans sanctioned by the banks.
Manappuram General Finance & Leasing Ltd. Board will meet today to consider bonus and stock split.
In global action, US stocks finished higher, propelling the Dow Jones Industrial Average to its longest winning streak since August 2009, as Wall Street rejoiced over the Federal Reserve's decision to hold rates steady.
Investors took comfort from a range of positive economic and corporate factors. The decision by the Fed to keep interest rates low boosted investors’ appetite for risky assets as concerns about regulatory risk in Washington and sovereign debt fears in Greece eased.
European shares rose to a fresh 2010 high, boosted by commodity firms and banks.
The pound sterling rose to a three-week high against the dollar after figures showed a surprise fall in UK unemployment last month. As prices move above $82 a barrel, the OPEC cartel has agreed to keep production at current levels as expected.
US stocks rallied on Wednesday, with the Dow, Nasdaq and S&P 500 all closing at new fresh 2010 highs, after the US and Japanese central banks chose to keep interest rates low and the Senate passed a key jobs bill.
The Dow added 48 points, or 0.6%, closing at 10,733.67. It was the highest close since 10,831.07 on Oct. 1, 2008. The Dow has now risen for seven sessions in a row, its longest winning streak since the 8-day period that ended on August 27 of last year.
The S&P 500 index rose 7 points, or 0.6%, closing at 1,166.21, the highest close since 1,213.01 on Sept. 26, 2008. Energy and financial shares paced sector gains among the index's 10 industry groups.
The Nasdaq was up 10 points, or 0.5%, at 2,389.09, its highest point since 2,411.64 on Aug. 28, 2008.
Stocks were moderately higher in the morning, but picked up the pace in the afternoon after the Senate passed a key jobs bill and the dollar's weakness sparked a rally in commodity prices and stocks.
Advancers beat decliners by a more than a 2-1 ratio on the New York Stock Exchange, where nearly 5.1 billion shares exchanged hands. Year-to-date, daily volume in 2010 has averaged about 4.7 billion, still below last year's daily average of just under 5.5 billion.
Short-term traders are not participating because we don't have the volatility. The CBOE Market Volatility Index is trading under 20 for a third consecutive week.
The dollar gained versus the euro and the yen.
US light crude oil for April delivery roes $1.23 to settle at $82.93 a barrel on the New York Mercantile Exchange.
COMEX gold for April delivery rose $1.70 to settle at $1,124.20 per ounce.
Treasury prices rose, lowering the yield on the 10-year note to 3.64% from 3.65% late on Tuesday.
Stocks gained on Tuesday after the Federal Reserve opted to hold interest rates steady, as expected, and said rates should stay near zero percent for the foreseeable future. News that ratings agency Standard & Poor's decided not to downgrade Greece's debt helped soothe fears that the euro zone nation could default.
Stocks have been moving higher fairly steadily over the last few weeks, with the Dow and S&P 500 rising in 14 of the last 15 sessions and the Nasdaq rising in 13 of the last 15 sessions through Wednesday's close.
Stock gains on Tuesday left the S&P 500 at a fresh near 18-month high, the Nasdaq at an 18-month high and the Dow just short of its 2010 peak.
In the day's economic reports, the Producer Price Index (PPI), a measure of wholesale inflation, fell 0.6% in February for the biggest drop since July of last year after being expected to fall 0.2%, according to a consensus of economists. PPI gained 1.4% in January.
The so-called core PPI, which strips out volatile food and energy prices, rose 0.1% in the month, as expected. Core PPI gained 0.3% in January.
A sustained period of low pricing pressure would enable the Fed to keep interest rates low for a while.
Investors also welcomed Japan's decision to hold interest rates at a low 0.1% and double the amount of money available to banks through a short-term lending program.
The market has found its footing after a selloff in the second half of January and early part of February. However, gains have been modest and trading volume has been low as investors struggle amid a lack of clear catalysts to keep driving the market higher.
Investors are looking for more concrete signs that the US economy is recovering to justify a bigger rally after last year's spectacular advance. In 2009, the Dow gained 19% for the year, and rose 59% from the March 9 lows.
The Senate passed a $17.6 billion jobs bill and sent it to President Obama to sign it into law. The measure, which includes tax breaks and funding for highway projects, has been much debated in both houses of Congress over the last few weeks. It is seen as being the first in a series of bills designed to help bring unemployment down from its current level of 9.7%.
Fed Chairman Ben Bernanke was on Capitol Hill to testify before the House Financial Services Committee about the central bank's supervision of banks. Former Fed Chairman Paul Volcker, an adviser to Obama, also appeared at the hearing.
Across the Atlantic, European shares touched a fresh 2010 high following global central bank decisions to keep interest rates on hold.
The Stoxx Europe 600 index rose 0.9% to finish at 261.34, moving higher for the second time in three sessions and bringing year-to-date gains to 2.9%. The index's previous 2010 closing high was 260.26, set on Jan. 19.
The UK FTSE 100 index rose 0.4% to close at 5,644.63, while Germany's DAX index settled 0.9% higher at 6,024.28 - the first time it has traded over 6,000 since mid January - and the French CAC-40 index advanced 0.5% to finish at 3,957.89.
Bulls managed to hold on to moderate gains, extending Tuesday’s advance, as global sentiment improved after the Fed hinted that it is in no hurry to raise key rates. While festivities kept a lot of people away from the market yesterday, most players appeared to be back in action today. The traded volume was much better today compared to the last few sessions, and crossed Rs1 lakh crore mark. Finally, the BSE Sensex added 107 points to end at 17,490 after touching a high of 17,478 and a low of 17,389. The NSE Nifty surged 34 points to end at 5,232.
The PSU stocks like NMDC, MMTC, STC and Dredging Corp were among the notable gainers. While, Hindustan Copper hit two months high on reports that the government will shortly announce a share sale in the company. On the other hand, the Realty and the Auto stocks faced some offloading.
Reliance Industries which broke above its 200 day DMA yesterday failed to build on to its rally on account of profit booking.
In Asia, the Nikkei in Japan was up 1.1%, while Australia's S&P/ASX gained by 1.1%. Shanghai SE Composite advanced by 1.9% and Hang Seng index in Hong Kong was up 1.7%.
In Europe, stocks were trading with a positive bias. The DAX in Germany was up 0.7%, the CAC 40 index in France was up 0.5% and the FTSE in the UK was up 0.6%.
Coming back to India, among the BSE sectoral indices, the PSU index was the top gainer, adding 2%, followed by the Pharma index that was up 1.7% and the BSE Metal index was up 1.1%. However, the BSE Mid-Cap and BSE Small-Cap index was almost flat.
Outside the frontline indices, the big gainers in the broader market were Hindustan Copper, MMTC, NMDC, Jai Corp and GMDC. On the other hand, losers included Renuka Sugars, Jet Airways, United Spirits and Tulip Tele.
Shares of Reliance Industries ended flat at Rs1066. Reports stated that the company is in talks with Atlas Energy Inc. to invest in the U.S. natural-gas producer’s shale assets.
Reliance plans to buy three Shale gas assets in the US according to reports. The company may acquire a 40% to 50% stake in the US based company and the deal size is likely to be between US$1bn and US$2bn, added reports.
National Aluminium raised prices by Rs2,000 per metric ton to Rs122,200 effective March 15. This is the second time where the company announced a price hike during the month. The company had increased the price by a similar amount on March 2.
The stock erased early gains and ended flat at Rs397. It opened at Rs399 it touched an intra-day high of Rs400 and a low of Rs396 and recorded volumes of over 89,000 shares on BSE.
Dishman Pharmaceuticals announced that Dishman's Bavla Facilities are approved by Therapeutic Goods Administration (TGA), Department of Health and Ageing, Australian Government, Australia, for all Active Pharmaceutical Ingredients (API) production.
Shares of Dishman Pharma gained by 1.5% to end at 219. The scrip opened at Rs220 it touched an intra-day high of Rs224 and a low of Rs215 and recorded volumes of over 61,000 shares on BSE.
Shares of Engineers India shot up by over 5% to end at Rs2330 after the company announced that the board of directors will meet on March 23, 2010 to consider the proposal for Issue of Bonus Shares by capitalizing Free Reserves of the Company.
Further the Company has inform that, the Board in the same meeting shall also consider, inter-alia, the proposal of splitting of shares of the Company.
Shares of MSK project advanced by 1.5% to end at Rs128 after ~15% of its equity changed hands in three blocks on the BSE. The scrip opened at Rs128.8 it touched an intra-day high of Rs133.5 and a low of Rs126 and recorded volumes of over 6.8mn shares on BSE.
Subscribe to:
Posts (Atom)