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Tuesday, March 23, 2010
Fractured mandate for Asian stocks
Synchronized rally missing even as sentiments remain well supported on strong overnight US cues
Asian markets ended mixed today though the sentiments were mostly upbeat after the US stocks advanced last night on the much awaited health-care legislation in the House of Representatives. Asian stocks tried to push the worries posed by the surprise rate hike by the Indian central bank last week and the persistent support emerging for the Euro at levels under 1.3500 augured well for the investors.
The Australian market ended in positive territory, taking cues from Wall Street. Banks led the gains followed by mining and metal stocks on increasing optimism about the global economy. An overnight rebound in crude-oil prices helped support energy-sector stocks. The benchmark S&P/ASX200 Index advanced 44.60 points, or 0.92% to close at 4,875, while the All-Ordinaries Index ended at 4,888, representing a gain of 40.40 points, or 0.83%.
South Korean stocks also ended on a firm note with investors displaying renewed vigor after Monday's losses. Shipping, technology and banking stocks are among the notable gainers. The benchmark KOSPI index added 0.6%.
Japanese stocks slipped though as traders preferred to lock in profit from the recent gains and move to the sidelines awaiting more cues on global economy. Strengthening of the Japanese yen against the US dollar impacted market sentiment more than offset the gains on Wall Street in the previous session and increasing optimism about economic recovery. The benchmark Nikkei 225 Index fell 50.57 points, or 0.5%, to 10,774, while the broader Topix index of all First Section issues slipped 1.56 points, or 0.2%, to 947.
Profit selling was witnessed in some other indices as well. The most notable of them al was China, where the worries on rising interest rates continued to hamper the banking and reality stocks. China's Shanghai Composite gave up 0.7%. In other markets, Taiwan's Taiex slipped 0.3% and New Zealand's NZX 50 dipped 0.2% on the day.
In Mumbai, the key benchmark indices regained positive zone in the closing hours as European stocks rose in early trade. The BSE 30-share Sensex was closed up 40 points or 0.20%, as Metal and Pharma stocks rose. Index heavyweight Reliance Industries edged higher.
Yesterday, the U.S., stocks rallied by steadily, as the markets saw a largely positive reaction to the passage of landmark healthcare reform. Nonetheless, the day's upside may have been limited by a number of overseas financial concerns. The major averages all finished comfortably in positive territory, building on last week's gains. The Dow advanced by 43.91 points or 0.4% to 10,786, the Nasdaq gained 20.99 points or 0.9% to end at 2,394 and the S&P 500 rose by 5.91 points or 0.5% to 1,166.
Crude oil futures witnessed a sideways session. The commodity slipped in the early Asian trades, rebounding from a low of $81.14 per barrel and was last seen hovering at $81.67, up 7 cents on the day. The prices rebounded and moved past US$81 a barrel on Monday as the U.S. currency weakened against the Euro.
Market edgy on expiry jitters, pharma gains
Today's major news
Cadila Healthcare hits its 52-week high; the stock surges 4.60%
ICICI Bank gets full license for Singapore operations; the stock closes 1.05% lower
Larsen & Toubro secures orders worth Rs1,500 crore; the stock finishes 0.36% down
Click here for more stories
Post-market summary
Global signals
European stocks were trading modestly higher taking cue from an upbeat session on the Wall Street. At the time of writing this report, FTSE 100 (UK) was trading 0.67% higher.
Of the major Asian indices, only Shanghai Composite (China) and Nikkei (Japan) ended lower—by 0.70% and 0.47% respectively. SGX Nifty closed 13 points higher.
US stock futures opened higher pointing to a higher opening on the Wall Street, with housing in the spotlight ahead of data on prices, existing-home sales and results from builder KB Home. However, the investors would be eagerly waiting for the existing home sales readings for February and FHFA home price index for January. On March 24, 2010, the investors would be eagerly waiting for Durable Orders ex Auto and New Home Sales for February.
Indian indices
With the expiry of March F&O contracts round the corner—on Thrusday (March 25, 2010)—stocks fluctuated as investors unwound positions. The passing of the US Healthcare Reform Bill, touted to be historic in nature, yesterday, which could benefit Indian drug makers saw pharmaceutical stocks (BSE Healthcare) open higher and stay higher.
Starting off merely 22 points over its yesterday’s close the Sensex was its day’s high (120 up its yesterday’s close) within minutes of trade. However it failed to hold on this early lead on expiry jitters. With little over two hours to the closing it was at its day’s low (54 points lower than its yesterday’s closing), but rebounded towards the end on buying in blue chips like Reliance Industries, Torrent Power and HDFC Bank to post gains of 40 points. The Nifty closed 20 points higher with F&O volumes spiking by over 20% over its yesterday's reading.
Market sentiment
The advance/decline ratio tilled in favour of bears at 0.84. Of the 2,879 stocks traded on the BSE, 1,504 (52.24%) stocks declined, whereas 1,266 (43.97%) stocks advanced. Hundred and nine stocks closed unchanged.
Sectoral & stock screening
Passage of US Healthcare Reforms Bill spiked BSE Health Care (up 1.54%) on news that it would benefit Indian drug companies. BSE Oil & Gas was at second position—up 1.13%. The rest of the sectors were either up or down by less than a percent.
On stocks’ front, the top three gainers were Areva T&D India (up 10.33%), Lanco Infratech (up 6.84%) and Cadila Healthcare (up 4.60%). The top three losers were NMDC (down 5.47%), Idea Cellular (down 3.70%) and Shree Renuka Sugars (down 4.66%).
Viewing volumes
On a day before the expiry of March F&O contracts, F&O volumes spurted to over 1.15 lakh. However, the cash segment did not see much change from average volumes. Steel maker, Ispat Industries was the most actively traded share with over 0.34 crore shares changing hands on the BSE, followed by India’s second largest realty company Unitech (0.34 crore shares), Industrial finance company IFCI (0.28 crore shares), wind turbine major Suzlon Energy (0.27 crore shares) and the Housing Development & infrastructure Ltd (HDIL; 0.23 crore shares).
BSE Bulk Deals to Watch - March 23 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
23/3/2010 520123 ABC India MADHURI MADHUSUDAN KELA B 170000 90.00
23/3/2010 520123 ABC India SIDDHARTH KUMAR PODDAR S 50000 90.00
23/3/2010 520123 ABC India MANISHA KAJARIA S 31867 90.00
23/3/2010 530093 Ace India SADHU RAM AGGARWAL B 38588 25.16
23/3/2010 530093 Ace India NEELKANTH STOCK BROKERS PRIVATE LIMITED B 25000 24.85
23/3/2010 530093 Ace India VEDPRAKASH NARULA S 150270 25.60
23/3/2010 511589 Almondz Cap VISHVDEVA LEASING & INV PVT LT S 54000 21.46
23/3/2010 517096 Aplab VEENA JAIN B 25000 38.50
23/3/2010 517096 Aplab RAMESH KUMAR JAIN B 25000 40.50
23/3/2010 517096 Aplab VEENA JAIN S 25000 40.50
23/3/2010 517096 Aplab RAMESH KUMAR JAIN S 25000 38.50
23/3/2010 533163 Arss Infra Proj OPG SECURITIES P LTD B 123605 936.96
23/3/2010 533163 Arss Infra Proj OPG SECURITIES P LTD S 123605 936.81
23/3/2010 513401 Ashiana Ispat RAJESH KUMAR GOYAL B 50000 13.65
23/3/2010 513401 Ashiana Ispat DEEPAK KUMAR AGGARWAL S 50000 13.65
23/3/2010 507526 Associated Alco HARSHIT GUPTA B 50000 28.65
23/3/2010 507526 Associated Alco CAPTIVE COMMERCE PVT LTD B 50000 31.80
23/3/2010 507526 Associated Alco HARSHIT GUPTA S 50000 31.80
23/3/2010 507526 Associated Alco CAPTIVE COMMERCE PVT LTD S 50000 28.65
23/3/2010 512109 Aviva Inds ASHWIN C JAIN (HUF) B 10000 24.90
23/3/2010 512109 Aviva Inds RAJNIKANT MEHTA B 10000 24.45
23/3/2010 512109 Aviva Inds KISHORE CHINUBHAI SHAH S 10000 24.90
23/3/2010 512109 Aviva Inds KANAKBHAI BAKULCHANDRA SHAH S 10000 24.45
23/3/2010 500034 Bajaj Auto Fin BAJAJ FINSERV LTD B 513423 309.75
23/3/2010 507944 Bajaj Steel RAHUL DOSHI B 14000 269.19
23/3/2010 531591 Bampsl Sec PRAKASH CHAND GUPTA S 494500 1.61
23/3/2010 532674 Bannari Amman Spg HARSHA RAJESHBHAI JHAVERI S 100000 98.00
23/3/2010 531530 Betala Global RAJSHREE CHOWDHARY B 15000 6.06
23/3/2010 531530 Betala Global ARIHANT STOCK BROKERS LTD S 15000 6.06
23/3/2010 590059 Bihar Tubes NEETA HEMANT ASHAR B 105000 105.38
23/3/2010 590059 Bihar Tubes TAPARIA HOLDINGS PRIVATE LIMITED S 117240 105.39
23/3/2010 523054 Binayak Tex PRADIP BINODILAL PACHERIWALA B 24400 195.50
23/3/2010 523054 Binayak Tex PREMLATA ROSHANLAL AGARWAL S 11000 195.50
23/3/2010 523054 Binayak Tex SHANKARLAL KEJRIWAL S 7000 195.50
23/3/2010 523054 Binayak Tex LALITA KEJRIWAL S 7000 195.50
23/3/2010 511607 Birla Shloka BHAVISH DHIRAJLAL KHAKHKHAR B 113021 67.78
23/3/2010 511607 Birla Shloka DEVKANT SYNTHETICS INDIA PVT. B 100000 68.97
23/3/2010 511607 Birla Shloka BHAVISH DHIRAJLAL KHAKHKHAR S 80056 68.04
23/3/2010 500083 Century Extr MAHIPAT IWDARMAL MEHTA B 657783 10.11
23/3/2010 500083 Century Extr MAHIPAT IWDARMAL MEHTA S 367216 10.10
23/3/2010 500083 Century Extr GOKUL PRIVATE LIMITED S 325000 10.09
23/3/2010 532413 Cerebra Integ VALUE SOURCE IT PRIVATE LIMITED S 80000 15.06
23/3/2010 533026 Chemcel Bio RAJENDRA BHAIYA B 200000 8.26
23/3/2010 526141 Compact Disc JMP SECURITIES PVT LTD B 369457 77.47
23/3/2010 526141 Compact Disc PRAGYA EQUITIES PRIVATE LIMITED B 61149 70.39
23/3/2010 526141 Compact Disc JMP SECURITIES PVT LTD S 52475 73.35
23/3/2010 526141 Compact Disc PRAGYA EQUITIES PRIVATE LIMITED S 60155 73.01
23/3/2010 532363 Compulearn RAPIDCREDITS AND MERCANTILES PRIVATE LIMITED B 100000 22.18
23/3/2010 517514 D&H Welding MILAN PRAVINCHANDRA SHAH S 50000 19.50
23/3/2010 521220 Damodar Thrd VITTHALDAS PATEL S 50000 33.60
23/3/2010 532760 Deep Inds ARCADIA SHARE & STOCK BROKERS PVT. LTD B 131696 108.73
23/3/2010 532760 Deep Inds ARCADIA SHARE & STOCK BROKERS PVT. LTD S 119217 108.91
23/3/2010 517973 DMC Intl SHALINI DHOOP P. LTD S 183093 17.08
23/3/2010 526783 Dr Agarwals LATA PRKASH SANGHVI B 25000 51.50
23/3/2010 526783 Dr Agarwals VINITAL BALIYA B 25000 57.95
23/3/2010 526783 Dr Agarwals LATA PRKASH SANGHVI S 25000 57.95
23/3/2010 526783 Dr Agarwals VINITAL BALIYA S 25000 51.50
23/3/2010 532737 Emkay Glob Fin RELIANCE CAPITAL ASSET MANAGEMENT LTD B 707410 75.11
23/3/2010 532737 Emkay Glob Fin Capital Growth Investments Ltd S 912236 75.04
23/3/2010 532139 G Tech Info PUNARVASU ENTERPRISES PRIVATE LIMITED S 700000 5.36
23/3/2010 531904 Globus Corp PRAKASH BI.DHEBAR HUF B 970000 1.15
23/3/2010 531904 Globus Corp FOUNTAIN VANIJYA PRIVATE LIMITED S 1007472 1.15
23/3/2010 513059 GS Auto PRASHANT MAHADEV KAMBLE S 44746 48.01
23/3/2010 511543 GSB Finance SUSHMA GIRDHARI BIYANI B 100000 9.50
23/3/2010 511543 GSB Finance NEELAM RAMAKANT BIYANI B 150000 9.50
23/3/2010 511543 GSB Finance GSB SHARE CUSTODIAN SERVICES LTD S 250000 9.50
23/3/2010 532770 Hanung Toys FINBAY CONSULTANTS B 167626 198.44
23/3/2010 532770 Hanung Toys AASHKA CONSTRUCTION PRIVATE LIMITED B 172785 201.41
23/3/2010 532770 Hanung Toys ATUL U REGE HUF S 180686 198.45
23/3/2010 532770 Hanung Toys AASHKA CONSTRUCTION PRIVATE LIMITED S 187538 200.67
23/3/2010 511682 IFL Promoters OMPARKASH GUPTA B 26014 9.93
23/3/2010 511682 IFL Promoters CENTENARY SOFTWARE PVT LTD B 24383 10.49
23/3/2010 511682 IFL Promoters SHIVCHARAN DASSMITTAL B 22000 10.23
23/3/2010 511682 IFL Promoters OMPARKASH GUPTA S 24850 10.68
23/3/2010 511682 IFL Promoters CENTENARY SOFTWARE PVT LTD S 38001 10.36
23/3/2010 511682 IFL Promoters SHIVCHARAN DASSMITTAL S 22000 10.47
23/3/2010 511682 IFL Promoters DMC INTERNATIONAL LTD S 23600 9.93
23/3/2010 522059 Indage Vintners MERRILL LYNCH CAPITAL MARKETS ESPANA SA SV S 200000 42.70
23/3/2010 505840 Jaipan Inds RASHEL AGROTECH S 66000 25.71
23/3/2010 511092 JMD Telefilms ASHOK HARGOVINDAS SONI B 350000 83.80
23/3/2010 531784 Kadamb Constr NEWGEN INTERNATIONAL PRIVATE LIMITED S 100000 48.00
23/3/2010 531784 Kadamb Constr SHEELA MEHTA S 122545 48.01
23/3/2010 530955 Kailash Ficom SCOPE VYAPAR PRIVATE LIMITED B 55000 26.24
23/3/2010 530955 Kailash Ficom VISHAL INFORMATION TECHNOLOGIES LTD B 150000 27.00
23/3/2010 530955 Kailash Ficom VISHAL INFORMATION TECHNOLOGIES LTD B 100000 26.95
23/3/2010 523810 Kaleidoscope Films PRAKASH BI.DHEBAR HUF S 1500000 6.57
23/3/2010 530255 KAY Power BAMPSL SECURITIES LTD B 370108 15.73
23/3/2010 530255 KAY Power BAMPSL SECURITIES LTD S 97559 15.15
23/3/2010 530255 KAY Power PRAKASH CHAND GUPTA S 66068 14.72
23/3/2010 530255 KAY Power NARENDER GUPTA S 80000 14.68
23/3/2010 530255 KAY Power ANJU GUPTA S 62718 15.95
23/3/2010 531731 Kuvam Intl KAPIL SHROFF B 50000 56.14
23/3/2010 512349 Linkhouse Inds NANDKUMAR KHATTUMAL HARCHANDANI B 617927 3.73
23/3/2010 532998 Lotus Eye Care SUBODHSAGAR SHARES & SERVICES PRIVATE LIMITED S 122150 25.25
23/3/2010 531515 Mahan Inds PUNARVASU ENTERPRISES PRIVATE LIMITED B 625000 5.95
23/3/2010 590111 MASTER DEEPAK KUMAR VYAS S 27725 38.97
23/3/2010 532724 Mounteverest Trd SHRI ARYAVRAT TRADING CO LTD S 7574 153.97
23/3/2010 513179 National Steel DHARAMPAL PREMCHAND LTD B 200000 23.11
23/3/2010 513179 National Steel DHARAMPAL SATYAPAL LIMITED S 200000 23.11
23/3/2010 512047 Natraj Fin HITESH RAMJI JAVERI B 80000 29.60
23/3/2010 502893 Neemtek Org KANNU DEVI B 10000 134.20
23/3/2010 502893 Neemtek Org JIWA RAM GOYAL B 10000 122.10
23/3/2010 502893 Neemtek Org KANNU DEVI S 10000 122.10
23/3/2010 502893 Neemtek Org JIWA RAM GOYAL S 10000 134.20
23/3/2010 504112 NELCO TRANSGLOBAL SECURITIES LTD. B 147260 125.82
23/3/2010 504112 NELCO JMP SECURITIES PVT LTD B 225166 128.37
23/3/2010 504112 NELCO TRANSGLOBAL SECURITIES LTD. S 147260 126.03
23/3/2010 504112 NELCO JMP SECURITIES PVT LTD S 172805 127.84
23/3/2010 531083 Nihar Info VENNELAKANTI VS S 31000 4.13
23/3/2010 526159 Nikhil Adhsv REKHA TARAK SANGHAVI B 57040 30.00
23/3/2010 526159 Nikhil Adhsv NIKHIL UMESH SANGHAVI B 30770 30.00
23/3/2010 526159 Nikhil Adhsv MRULNALINI RAJENDRA SANGHAVI B 48240 30.00
23/3/2010 526159 Nikhil Adhsv ASHOK JAYANTILAL SANGHAVI B 49140 30.00
23/3/2010 526159 Nikhil Adhsv HARSHAD J SHAH S 96630 30.00
23/3/2010 526159 Nikhil Adhsv CHANDRAKANT J SHAH S 96630 30.00
23/3/2010 511523 Niyati Inds VEENABEN PRAKASHBHAI SHAH S 370433 0.64
23/3/2010 531496 Omkar Overseas FALGUNIBEN MAHAVIRBHAI GOHIL B 29843 65.85
23/3/2010 531496 Omkar Overseas MEENA MANOJ SHAH B 30000 64.93
23/3/2010 531496 Omkar Overseas HITESH KANABHAI BHUTIYA B 30900 65.96
23/3/2010 531496 Omkar Overseas AMBIKA SHYAM SHUKLA S 30000 65.32
23/3/2010 531496 Omkar Overseas BHARATIBEN N MAKWANA S 40000 66.10
23/3/2010 531496 Omkar Overseas CHAMPALAL GOPIRAM AGARWAL S 25000 66.15
23/3/2010 512097 Oregon Comm SANJAY JETHALAL SONI B 5023 194.15
23/3/2010 512097 Oregon Comm NIMAI AGENCIES PRIVATE LIMITED B 25775 195.44
23/3/2010 512097 Oregon Comm USHABEN ANIL KUMAR AGARWAL B 26000 190.00
23/3/2010 512097 Oregon Comm ANILKUMAR KAILASHPRASAD AGARWAL B 26000 190.00
23/3/2010 512097 Oregon Comm KRUPA SANJAY SONI S 11156 193.23
23/3/2010 512097 Oregon Comm SANJAY JETHALAL SONI S 4823 192.94
23/3/2010 512097 Oregon Comm NIMAI AGENCIES PRIVATE LIMITED S 19875 190.73
23/3/2010 512097 Oregon Comm PATEL SHAILESH JIVANLAL S 5600 190.00
23/3/2010 512097 Oregon Comm SANCHETI SURENDRA RIKHABD S 6000 199.00
23/3/2010 532742 Paushak RAMESH KUMAR JAIN B 20000 63.50
23/3/2010 532742 Paushak SHYAM JAIN B 20000 60.50
23/3/2010 532742 Paushak RAMESH KUMAR JAIN S 20000 60.50
23/3/2010 532742 Paushak SHYAM JAIN S 20000 63.50
23/3/2010 532979 Piramal Life SMART EQUITY BROKERS PRIVATE LIMITED B 174830 125.91
23/3/2010 532979 Piramal Life JMP SECURITIES PVT LTD B 140416 132.16
23/3/2010 532979 Piramal Life SMART EQUITY BROKERS PRIVATE LIMITED S 174830 126.26
23/3/2010 504288 Polar Inds ANKUR CHOPRA B 76041 4.60
23/3/2010 504288 Polar Inds JYOTI PORTFOLIO LIMITED S 76041 4.60
23/3/2010 531688 Prithvi Soft SUGAL & DAMANI PRO ACCOUNT S 30000 15.64
23/3/2010 530253 Rajasthan Tube SUNILMAL CHAND JAIN S 22821 8.08
23/3/2010 522257 Rajoo Engineers GIRISHBHAI C PANDYA S 192000 9.97
23/3/2010 532665 Rajvir Inds KARANG MEHTA B 27000 90.09
23/3/2010 532665 Rajvir Inds ANJANA PROJECTS LIMITED S 27000 90.09
23/3/2010 590077 Ranklin Sol VENKATA BADRI NARAYANAMMA GOLL S 61748 56.42
23/3/2010 532124 Reliable Vent RITU TIE UP PRIVATE LIMITED B 60000 24.10
23/3/2010 532124 Reliable Vent GARNET INTERNATIONAL LIMITED S 60000 24.10
23/3/2010 531646 RFL Intl UNIGLORY PROJECTS PVT. LTD. S 30423 7.60
23/3/2010 531646 RFL Intl AGARSON TRADING PVT. LTD. S 38690 7.60
23/3/2010 512359 Rotam Comm NIMAI AGENCIES PRIVATE LIMITED S 11000 138.00
23/3/2010 531901 SAARC Net MANISH DEVENDRA RATHI B 300000 1.29
23/3/2010 531781 Sapan Chem ABHIJAI INVESTMENT S 200000 6.33
23/3/2010 533056 SARK SYS SARITA RATHI B 50000 19.18
23/3/2010 533056 SARK SYS TANMOY GANGULY B 207493 19.18
23/3/2010 533056 SARK SYS MVM SECURITIES PVT LTD B 120903 19.14
23/3/2010 533056 SARK SYS DINDAYAL SHARMA S 50000 19.18
23/3/2010 533056 SARK SYS SWETA TIBREWALA S 154050 19.18
23/3/2010 517411 Shyam Telecom BP FINTRADE PRIVATE LIMITED B 104475 83.72
23/3/2010 517411 Shyam Telecom BP FINTRADE PRIVATE LIMITED S 97713 83.81
23/3/2010 526479 SKY Inds MANJU KANWAR RATHORE B 40000 101.11
23/3/2010 526479 SKY Inds KAN SINGH RATHORE B 40000 101.19
23/3/2010 526479 SKY Inds JASHWANT P. MAKWANA HUF B 150000 101.09
23/3/2010 526479 SKY Inds VIJAY JAMNADAS VORA S 60660 101.08
23/3/2010 526479 SKY Inds VIJAY JAMNADAS VORA S 86000 101.15
23/3/2010 522042 SM Energy NILESH CHUNILAL SHAH S 48769 6.00
23/3/2010 531645 Southern Ispat SAROJ GARG S 63001 24.08
23/3/2010 532833 Sparsh BPO KAPIL PURI B 914445 43.53
23/3/2010 532833 Sparsh BPO SUBHKAM CAPITAL LTD S 425000 43.55
23/3/2010 532833 Sparsh BPO SUBHKAM CAPITAL LIMITED S 597629 43.54
23/3/2010 512413 Spectacle Inds KISHORE B CHAUHAN S 466823 104.59
23/3/2010 532887 Sujana Towers PRIMUS REALESTATES PVT. LTD B 564493 49.35
23/3/2010 532887 Sujana Towers V N G IMPEX PVT LTD S 564493 49.35
23/3/2010 526133 Supertex Inds SUPER INFINCON PVT LTD B 955706 2.42
23/3/2010 533157 SYNCOM HEAL GENUINE STOCK BROKERS PVT. LTD. B 365005 130.36
23/3/2010 533157 SYNCOM HEAL SMART EQUITY BROKERS PRIVATE LIMITED B 127680 129.91
23/3/2010 533157 SYNCOM HEAL TRANSGLOBAL SECURITIES LTD. B 406412 130.23
23/3/2010 533157 SYNCOM HEAL A K G STOCK BROKERS PRIVATE LIMITED B 124035 130.30
23/3/2010 533157 SYNCOM HEAL MATRIX EQUITRADE PRIVATE LIMITED LIMITED B 95481 130.82
23/3/2010 533157 SYNCOM HEAL AMRAPALI CAPITAL AND FINANCE SERVICES LIMITED B 180000 131.57
23/3/2010 533157 SYNCOM HEAL CHANDARANA INTERMIDIARY BROKERS PVT LTD B 119640 130.21
23/3/2010 533157 SYNCOM HEAL MARWADI SHARES AND FINANCE LTD. B 182084 130.34
23/3/2010 533157 SYNCOM HEAL SANJEEV SINGHAL B 101159 130.31
23/3/2010 533157 SYNCOM HEAL OPG SECURITIES P LTD B 173289 130.47
23/3/2010 533157 SYNCOM HEAL M/S ARV ENTERPRISES B 100000 132.91
23/3/2010 533157 SYNCOM HEAL R M SHARES TRADING PRIVATE LIMITED B 90241 131.85
23/3/2010 533157 SYNCOM HEAL RKSV SECURITIES INDIA PRIVATE LIMITED B 90077 126.80
23/3/2010 533157 SYNCOM HEAL FRONTIER TRADERS PRIVATE LIMITED B 175000 129.00
23/3/2010 533157 SYNCOM HEAL NAVEEN TAPARIA B 111725 131.58
23/3/2010 533157 SYNCOM HEAL GENUINE STOCK BROKERS PVT. LTD. S 365005 130.43
23/3/2010 533157 SYNCOM HEAL SMART EQUITY BROKERS PRIVATE LIMITED S 127680 130.01
23/3/2010 533157 SYNCOM HEAL TRANSGLOBAL SECURITIES LTD. S 406412 130.21
23/3/2010 533157 SYNCOM HEAL A K G STOCK BROKERS PRIVATE LIMITED S 124035 130.30
23/3/2010 533157 SYNCOM HEAL MATRIX EQUITRADE PRIVATE LIMITED LIMITED S 95481 130.95
23/3/2010 533157 SYNCOM HEAL AMRAPALI CAPITAL AND FINANCE SERVICES LIMITED S 180000 129.01
23/3/2010 533157 SYNCOM HEAL CHANDARANA INTERMIDIARY BROKERS PVT LTD S 119640 130.19
23/3/2010 533157 SYNCOM HEAL MARWADI SHARES AND FINANCE LTD. S 182084 130.40
23/3/2010 533157 SYNCOM HEAL SANJEEV SINGHAL S 101159 130.36
23/3/2010 533157 SYNCOM HEAL OPG SECURITIES P LTD S 173289 130.36
23/3/2010 533157 SYNCOM HEAL R M SHARES TRADING PRIVATE LIMITED S 90241 132.01
23/3/2010 533157 SYNCOM HEAL RKSV SECURITIES INDIA PRIVATE LIMITED S 90077 126.69
23/3/2010 533157 SYNCOM HEAL FRONTIER TRADERS PRIVATE LIMITED S 175000 133.30
23/3/2010 533157 SYNCOM HEAL NAVEEN TAPARIA S 111725 130.60
23/3/2010 533164 Texmo Pipes GENUINE STOCK BROKERS PVT. LTD. B 65900 109.25
23/3/2010 533164 Texmo Pipes RASHMI RAJNIKANT SHAH B 65000 111.39
23/3/2010 533164 Texmo Pipes GENUINE STOCK BROKERS PVT. LTD. S 65900 109.16
23/3/2010 533164 Texmo Pipes LATIN MANHARLAL SEC.PVT.LTD. S 58346 110.91
23/3/2010 533164 Texmo Pipes RASHMI RAJNIKANT SHAH S 65000 107.53
23/3/2010 504605 Uni Abex Alloy RUPESH RAMESH DOSHI S 12660 157.68
23/3/2010 511431 Vakrangee Soft SMART EQUITY BROKERS PRIVATE LIMITED B 194100 103.99
23/3/2010 511431 Vakrangee Soft MATRIX EQUITRADE PRIVATE LIMITED LIMITED B 113097 104.67
23/3/2010 511431 Vakrangee Soft SMART EQUITY BROKERS PRIVATE LIMITED S 194100 104.04
23/3/2010 511431 Vakrangee Soft MATRIX EQUITRADE PRIVATE LIMITED LIMITED S 113097 104.80
23/3/2010 532116 XO Infotech SHANKHESHWAR METALS PVT.LTD S 450000 4.40
* B - Buy, S - Sell
NSE Bulk Deals to Watch - March 23 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
23-MAR-2010,ALPHAGEO,Alphageo (India) Limited,Minal Patel,BUY,50000,166.15,-
23-MAR-2010,ALPHAGEO,Alphageo (India) Limited,RUCHIT B. PATEL,BUY,50200,166.15,-
23-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,83769,936.57,-
23-MAR-2010,BASML,Bannari Amman Spinning Mi,MAYANK JASWANTLAL SHAH,BUY,100000,98.00,-
23-MAR-2010,HANUNG,Hanung Toys and Textiles,AASHKA CONSTRUCTION PVT LTD,BUY,165935,200.66,-
23-MAR-2010,HANUNG,Hanung Toys and Textiles,TCG STOCK BROKING LTD,BUY,53055,199.42,-
23-MAR-2010,JINDCOT,Jindal Cotex Ltd,ELDORADO BIOTECH PVT LTD,BUY,150000,85.69,-
23-MAR-2010,NELCO,Nelco Ltd.,JMP SECURITIES PVT LTD,BUY,193423,130.67,-
23-MAR-2010,NELCO,Nelco Ltd.,TRANSGLOBAL SECURITIES LTD.,BUY,158025,126.36,-
23-MAR-2010,PIRLIFE,Piramal Life Sciences Lim,JMP SECURITIES PVT LTD,BUY,180837,132.46,-
23-MAR-2010,SELMCL,SEL Manufacturing Company,SAFFRON FINANCE LIMITED,BUY,282040,65.18,-
23-MAR-2010,SHYAMTEL,Shyam Telecom Limited,AJAY ASSET MANAGEMENT PRIVATE LIMITED,BUY,120711,84.45,-
23-MAR-2010,SHYAMTEL,Shyam Telecom Limited,BP FINTRADE PRIVATE LIMITED,BUY,116309,83.13,-
23-MAR-2010,SHYAMTEL,Shyam Telecom Limited,JINESH AJITKUMAR JAIN,BUY,98840,83.47,-
23-MAR-2010,SHYAMTEL,Shyam Telecom Limited,RAHUL DOSHI,BUY,119564,84.49,-
23-MAR-2010,SHYAMTEL,Shyam Telecom Limited,VIJIT SHARES AND COMMODITIES PVT.LTD.,BUY,241926,84.46,-
23-MAR-2010,SITASHREE,Sita Shree Food Products,PATEL PRAGNESH JAGDISHBHAI,BUY,110563,11.04,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,ABHISHEK SHARAN,BUY,168734,130.62,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,138124,130.36,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,AMRAPALI CAPITAL AND FINANCE SERVICES LTD.,BUY,180000,131.23,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,BP FINTRADE PRIVATE LIMITED,BUY,98958,131.26,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,130636,130.23,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,DEEPAK SHANTILAL CHHEDA,BUY,115905,130.02,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,FRONTIER TRADERS PRIVATE LIMITED,BUY,200000,129.00,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,G RAMAKRISHNA,BUY,124000,130.49,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,411530,130.44,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,HARSHAD PURUSOTTAMDAS PANCHAL,BUY,117500,125.11,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,202142,130.53,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,135445,133.05,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,OM INVESTMENTS,BUY,163600,130.51,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,R S SINDHU,BUY,97833,130.42,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,R.M. SHARE TRADING PVT LTD,BUY,97182,131.91,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,367631,129.79,-
23-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,100788,109.22,-
23-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,58973,109.75,-
23-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,OM INVESTMENTS,BUY,60282,109.22,-
23-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R.M. SHARE TRADING PVT LTD,BUY,63798,109.85,-
23-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SACHDEVA STOCKS PVT LTD,BUY,88000,108.46,-
23-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SUNEET LAL,BUY,97719,108.93,-
23-MAR-2010,ALPHAGEO,Alphageo (India) Limited,Bharat Patel,SELL,103000,167.34,-
23-MAR-2010,ALPHAGEO,Alphageo (India) Limited,Gandiv Investment Pvt Ltd,SELL,75000,166.15,-
23-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,83769,936.80,-
23-MAR-2010,BASML,Bannari Amman Spinning Mi,HARSHA RAJESHBHAI JHAVERI,SELL,100000,98.00,-
23-MAR-2010,HANUNG,Hanung Toys and Textiles,AASHKA CONSTRUCTION PVT LTD,SELL,198548,201.06,-
23-MAR-2010,HANUNG,Hanung Toys and Textiles,TCG STOCK BROKING LTD,SELL,130000,199.99,-
23-MAR-2010,JINDCOT,Jindal Cotex Ltd,FORTUNE GILTS PVT. LTD.,SELL,150000,85.69,-
23-MAR-2010,KARURVYSYA,Karur Vysya Bank Ltd,BRP STOCK BROKING SERVICES LIMITED,SELL,275000,446.83,-
23-MAR-2010,LOTUSEYE,Lotus Eye Care Hospital L,SUBODHSAGAR SHARES & SERVICES PRIVATE LIMITED,SELL,112665,25.27,-
23-MAR-2010,NELCO,Nelco Ltd.,JMP SECURITIES PVT LTD,SELL,67511,128.10,-
23-MAR-2010,NELCO,Nelco Ltd.,TRANSGLOBAL SECURITIES LTD.,SELL,158050,126.36,-
23-MAR-2010,PIRLIFE,Piramal Life Sciences Lim,JMP SECURITIES PVT LTD,SELL,27001,129.60,-
23-MAR-2010,SELMCL,SEL Manufacturing Company,EMERGING INDIA FOCUS FUNDS,SELL,300000,65.00,-
23-MAR-2010,SELMCL,SEL Manufacturing Company,SAFFRON FINANCE LIMITED,SELL,282040,65.14,-
23-MAR-2010,SHYAMTEL,Shyam Telecom Limited,AJAY ASSET MANAGEMENT PRIVATE LIMITED,SELL,93711,84.27,-
23-MAR-2010,SHYAMTEL,Shyam Telecom Limited,BP FINTRADE PRIVATE LIMITED,SELL,116309,83.17,-
23-MAR-2010,SHYAMTEL,Shyam Telecom Limited,JINESH AJITKUMAR JAIN,SELL,98340,83.52,-
23-MAR-2010,SHYAMTEL,Shyam Telecom Limited,RAHUL DOSHI,SELL,109564,84.22,-
23-MAR-2010,SHYAMTEL,Shyam Telecom Limited,VIJIT SHARES AND COMMODITIES PVT.LTD.,SELL,223926,84.26,-
23-MAR-2010,SITASHREE,Sita Shree Food Products,PATEL PRAGNESH JAGDISHBHAI,SELL,213553,10.85,-
23-MAR-2010,STEELTUBES,Steel Tubes of India Ltd,RAJA RAJESWARAN.K.G,SELL,65758,2.01,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,ABHISHEK SHARAN,SELL,168734,130.91,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,138124,130.52,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,AMRAPALI CAPITAL AND FINANCE SERVICES LTD.,SELL,180000,129.02,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,BP FINTRADE PRIVATE LIMITED,SELL,98958,131.36,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,SELL,130636,130.32,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,DEEPAK SHANTILAL CHHEDA,SELL,115905,129.99,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,FRONTIER TRADERS PRIVATE LIMITED,SELL,200000,132.78,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,G RAMAKRISHNA,SELL,124000,129.83,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,411530,130.49,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,HARSHAD PURUSOTTAMDAS PANCHAL,SELL,117500,132.07,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,202142,130.64,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,74079,130.33,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,OM INVESTMENTS,SELL,163600,130.55,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,R S SINDHU,SELL,97833,130.50,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,R.M. SHARE TRADING PVT LTD,SELL,97182,131.92,-
23-MAR-2010,SYNCOM,Syncom Healthcare Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,367631,129.93,-
23-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,100788,109.37,-
23-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,58973,109.80,-
23-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,OM INVESTMENTS,SELL,60282,109.27,-
23-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R.M. SHARE TRADING PVT LTD,SELL,63798,110.22,-
23-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SACHDEVA STOCKS PVT LTD,SELL,88000,107.52,-
23-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SUNEET LAL,SELL,97719,109.04,-
Pharma stocks edge higher in volatile market
The key benchmark indices swayed between gains and losses ahead of the derivatives expiry later this week. Pharma stocks rose even as realty shares witnessed selling pressure. The BSE 30-share Sensex rose 40.45 points or 0.23%, up close to 94 points from the day's low and off close to 80 points from the day's high.
Investor sentiment appeared to positive with just four out of 13 sectoral indices on the BSE closing in the red. But, the market breadth, indicating the overall health of the market, was negative compared with a strong breadth in early trades today. World stocks rose.
The market was volatile as traders rolled over positions in derivatives segment from the March 2010 series to the April 2010 series ahead of the expiry of the near-month March 2010 derivatives contracts on Thursday, 25 March 2010. The market surged in early trade. The Sensex had lost nearly 1% on Monday, 22 March 2010, after a surprise hike in short term interest rates by the Reserve Bank of India (RBI) which it announced after trading hours on Friday, 19 March 2010.
The market pared gains soon after an initial rally. The market further trimmed gains in morning trade, after moving a in a narrow range in morning trade. The market once again moved in a narrow range in mid-morning trade. The key benchmark indices recovered from lower level after erasing almost the entire intraday gains. However, the intraday recovery proved short-lived. The market slipped into the red in afternoon trade. The key benchmark indices regained positive zone in mid-afternoon trade.
Rollover of Nifty futures from March 2010 series to April 2010 series was about 40% at the end of Monday's trade. Rollover in Mini Nifty futures was about 31% and the market wide rollover stood at about 36%. In individual stocks, GTL, National Aluminum Company, Reliance Power, GTL Infrastructure, and Bharti Airtel, have witnessed high rollover. But rollover was low in REC, Dish TV, Essar Oil, ITC and Welspun-Gujarat Stahl Rohren till Monday.
A day after a sharp surge, NSE's volatility index, India VIX, witnessed a steep slide. The index tumbled 9.17% to 18.13. India VIX is a measure of the market's expectation of volatility over the next 30 calendar days. The lower the index, which is based the S&P CNX Nifty option prices, the higher the market's desire to take risk. On Monday, 22 March 2010, the volatility index had surged 12.45% to 19.96 following a surprise hike in key policy rates by the Reserve Bank of India (RBI).
The stock market remains closed on Wednesday, 24 March 2010, on account of Ram Navmi.
The government will allow private-sector firms to issue infrastructure bonds to raise funds for projects, Finance Minister Pranab Mukherjee said on Tuesday. Prime minister Manmohan Singh today said there is a need to spend $1 trillion in infrastructure in the five years to 2016/17.
Mukherjee said the capacity of banks to fund infrastructure projects is stretched and new sources had to be tapped, including allowing private firms to issue infrastructure bonds. The availability of equity, both domestic and FDI (foreign direct investment) continue to remain an area of concern, he said. " We have still not completely succeeded in exploiting the full potential of insurance and pension funds for deployment in the infrastructure projects," Mukherjee said.
India plans to spend $514 billion in the five years to 2011/12, and Mukherjee said this goal was proceeding as per schedule.
The Reserve Bank of India (RBI) after trading hours on Friday 19 March 2010, unexpectedly raised interest rates from record-low levels, citing intensifying inflationary pressures and a steady economic recovery. The market had widely expected the RBI to raise rates soon, but the timing of its 25 basis-point hike for its key lending and borrowing rates, before the April 2010 policy review caught market men by surprise.
The RBI raised the repo rate, the rate at which it lends to banks to 5% from 4.75% and reverse repo rate, the rate which it absorbs funds from the system to 3.50% from 3.25% with immediate effect. India is the second major economy after Australia to start raising interest rates with signs of global recovery emerging and local price pressures picking up. China has raised its banks' reserve requirements but has left its rates unchanged.
The wholesale price index in Asia's third-largest economy accelerated to 9.89% in February, the highest since October 2008 and well above the central bank's end-March 2010 projection of 8.5% and the 8.56% reading for January 2010.
In the emergent scenario, low policy rates can complicate the inflation outlook and impair inflationary expectations, particularly given the recent escalation in the prices of non-food manufactured goods, the RBI said in a statement. While the recovery in growth has proceeded broadly along expected lines, the inflationary pressures have intensified beyond the central bank's baseline projection, the RBI said.
The government may have to sacrifice a little bit of short-term economic growth after the rate increase, which was aimed at consolidating long-term growth, the Reserve Bank of India (RBI) governor D Subbarao said on Monday.
The country's apex planning body has reportedly called for wide-ranging reforms in agriculture, while criticising the strategy employed by the government to increase farm output and tame soaring food prices.
The Planning Commission said the agriculture pricing system should be made more market-oriented by delinking support prices from procurement prices. It has also suggested measures such as abolition of levies and stocking limits, encouraging free movement of goods across the country and doing away with bans on exports and futures trading.
In its mid-term appraisal of the Eleventh Plan (2007-12) to be ratified by the full Planning Commission under Prime Minister Manmohan Singh on Tuesday, the panel pointed out that while the farm sector did well between 2005-06 and 2007-08 growing at 4%, the performance in the past two years showed that the government's strategy was not effective and more needed to be done on the supply side to maintain growth.
Meanwhile, poor performance in the power, road and port sectors has resulted in actual investment in infrastructure falling below the level envisaged in the Eleventh Plan period despite a robust growth in telecom sector.
Coming back to stocks, encouraging Q4 March 2010 advance tax figures of top Indian firms, indicating good Q4 March 2010 results, had boosted the bourses last week. The market 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 11112.83 crore this month, till 22 March 2010. Finance secretary Ashok Chawla said on Tuesday, 23 March 2010, that foreign capital flows into India are currently not posing any concern.
The stock market gave a thumbs up to 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 growth 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.
European stocks were moderately higher Tuesday, following a strong session in the US on Monday. The key benchmark indices in France, Germany and UK rose by between 0.53% to 0.82%.
European leaders recently tried to allay concerns that they were unprepared to aid Greece easing pressure on higher-yielding assets. The ECB president said the central bank is prepared to reassess its collateral rules if necessary, softening its stance as Greece struggles to cut the region's largest budget shortfall.
Most Asian shares rose on Tuesday, supported by investor expectations of an ongoing recovery in the world economy, and as tech stocks drew support from gains in their US peers. Sentiment was also lifted by the passage of the US healthcare legislation in the House of Representatives late Sunday. The key benchmark indices in Hong Kong, Indonesia, South Korea, Singapore rose by between 0.26% to 0.68%.
But the key benchmark indices in China, Taiwan and Japan fell by between 0.31% to 0.70%. Shares in China reversed earlier gains as financial stocks and property developers weakened on concerns about weaker dividends from the upcoming earnings reports.
Trading in US index futures indicated Dow could gain 9 points at the opening bell on Tuesday, 23 March 2010.
After a weak opening US stocks finally closed higher on Monday led by healthcare stocks as the passage of the health-care bill lifted uncertainty surrounding the legislation that was hanging over the market. The Dow Jones Industrial Average rose 43.91 points or 0.41% to 10784.89. The Nasdaq rose 20.99 points or 0.88% to 2395.40 and S&P 500 gained 5.91 points or 0.51% to 1,165.81.
The BSE 30-share Sensex rose 40.45 points or 0.23% to 17,451.02. The Sensex fell 53.93 points at the day's low of 17,356.64 in afternoon trade. The barometer rose 120.22 points at the day's high of 17,530.79 in early trade.
The S&P CNX Nifty was up 20.10 points or 0.39% at 5225.30.
The BSE Mid-Cap index rose 0.21% and the BSE Small-Cap index rose 0.30%.
The market breadth, indicating overall health of the market, was negative. That was in contrast to a strong breadth earlier in the day. On BSE, 1266 shares advanced as compared with 1504 that declined. A total of 109 shares remained unchanged.
BSE clocked a turnover of Rs 4175 crore, lower than Rs 4618.91 crore on Monday, 22 March 2010.
The BSE HealthCare index (up 1.54%), the BSE Oil & Gas index (up 1.13%), the BSE Power index (up 0.88%), the BSE Metal index (up 0.83%), the BSE Bankex (up 0.32%), the BSE IT index (up 0.31%), the BSE Capital Goods index (up 0.29%), outperformed the Sensex.
The BSE Consumer Durables index (up 0.15%), the BSE FMCG index (up 0.08%), the BSE Teck index (down 0.25%), the BSE PSU index (down 0.28%), the BSE Auto index (down 0.52%), and the BSE Realty index (down 0.71%), underperformed the Sensex.
From the 30 Sensex shares, 15 stocks fell, 14 stocks rose and one stock was unchanged.
Index heavyweight Reliance Industries (RIL) rose 1.43%, extending recent gains on expectations of good Q4 March 2010 results. As per the market buzz, RIL's Q4 advance tax surged to Rs 770 crore in Q4 March 2010 from 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 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.
Cairn India rose 3.76% after parent Cairn Energy of UK lifted its estimates for reserves at its Indian operation and said the unit's Rajasthan fields could produce more oil than previously thought. Cairn raised its estimates of oil and gas in place in Rajasthan to 4 billion barrels of oil equivalent (boe) from 3.7 billion boe and said there could be another 2.5 billion boe yet to be discovered. The Edinburgh-based company said the fields had the potential to pump 240,000 boe per day. Previously the company said it hoped to exceed its target of 175,000 boe per day but did not specify by how much.
India's largest engineering & construction firm by sales Larsen & Toubro (L&T) fell 0.36% in a volatile trade. The company said today it got orders worth Rs 1500 crore. L&T's advance tax payment fell marginally to Rs 270 crore in Q4 March 2010 from Rs 275 crore a year earlier.
But, other capital goods stocks rose. Areva T&D, Alstom Projects, Siemens, Crompton Greaves, Thermax, Bharat Heavy Electricals and Punj Lloyd rose by between 0.42% to 10.33%.
India's largest mobile services provider by sales Bharti Airtel fell 3% and was the top loser form the Sensex pack. The company has tied up the entire financing requirement of $8.3 billion for its planned buy of Kuwaiti telecom Zain's African assets, in a sign of progress as the deadline for the firms' talks expire this week. Bharti and Zain are in exclusive talks until 25 March 2010, marking the third time Bharti has tried to get its hands on a meaningful African business after two failed bids for South Africa's MTN.
Rate sensitive auto stocks extended Monday's fall triggered by a rate hike by the central bank. India's largest commercial vehicle maker by sales Tata Motors fell 2.76%, extending Monday's 3.02% fall after company said it is offering an early conversion of notes into stock through an auction to help reduce the debt on its balance sheet. The company, whose products range from the premium Jaguar and Land Rover to the ultra-cheap Nano car, on Tuesday invited holders of its foreign currency convertible notes to submit applications to convert them into shares.
Bondholders will get an enhanced conversion ratio in the offer, which runs through 29 March 2010, the truckmaker said in a statement today. The plan covers 11.8 billion yen ($131 million) of zero-coupon notes due March 2011 and $300 million of 1% bonds due in April 2011.
India's largest tractor maker by sales Mahindra & Mahindra (M&M) fell 0.02%, with the stock sliding for the fifth day. The company paid Rs 235 crore in advance tax in Q4 March 2010 versus nil payment a year earlier.
India's largest bike maker by sales Hero Honda Motors fell 0.45%. Hero Honda has short-listed 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 0.34%, extending recent slide triggered by fears increase in competition may dent sales. Recently, Ford India entered the small car market with 'Figo'.
Bajaj Auto fell 0.05%. As per recent report a joint venture between Nissan Motor, Renault S.A. and Bajaj Auto is working to make a car that will match the price of Tata Motors' Nano.
Increase in raw material prices coupled with costs associated with new emission norms could force auto makers 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.
Pharma stocks rose on hopes of a surge in US exports after the US Congress passed the heavily-contested healthcare bill on Sunday, 21 March 2010. Biocon, Ipca Laboratories, Dr Reddy's Laboratories, Ranbaxy Laboratories, Cipla, Divi's Laboratories, Lupin, Pfizer rose by between 0.09% to 3.34%.
Piramal Healthcare surged 3.38%, after the company signed a pact with Cipla for acquiring i-pill, an emergency contraceptive pill, for a consideration of Rs 95 crore.
Following the passage of the landmark healthcare bill, multinational firms may now be willing to put more money to buy into India's formulations companies. The healthcare bill is the US government's attempt to reduce healthcare costs. The Obama administration would make a nearly $1-trillion commitment in taxpayer money over the next decade to help an estimated 32 million uninsured Americans get health coverage. The bill also promotes use of generic drugs that are often one-tenth the price of the original version, but has the same impact.
Analysts opine that this would translate into huge opportunities to Indian companies as India has the largest number of US Food and Drug Administration approved pharma plants outside the US. India was among the 14 countries named in the Congress discussion that can offer low-cost drugs to achieve lower healthcare costs
Metal stocks rose on strong domestic demand. JSW Steel, Jai Corp, Guj NRE Coke, Sesa Goa, Hindalco Industries and Jindal Saw rose by between 0.34% to 3.02%.
India's largest steel maker by sales Tata Steel rose 1.20%. Its Q4 advance tax payment rose to Rs 513 crore from Rs 406 crore a year earlier.
India's largest copper maker by sales Sterlite Industries rose 0.47%. As per recent reports, a legal fight seems likely between Sterlite Industries and US copper miner Asarco LLC. The American company has filed a lawsuit against Sterlite for going back on a two-year old deal to acquire Asarco. This prompted Sterlite to also file a lawsuit against Asarco to claim recovery of about $50 million (about Rs 230 crore) that was deposited earlier.
But, National Aluminium Company fell 1.51%. The Union Minister for Mines has ruled out any possibility of disinvestment in the state-run aluminium firm.
Jindal Steel & Power advanced 2.47% on reports the company will invest $10 billion to set up a coal-to-liquid plant and a 2,000 megawatt thermal power plant in Orissa.
Compact Disc India was locked at 20% upper limit at Rs 79.30, after the company secured a large animation contract worth $82 million.
Sonata Software galloped 6.89%, after the company partnered with an independent non-profit organization dedicated to improving testing processes and software quality on a global scale.
ARSS Infrastructure Projects reported a highest turnover of Rs 206.02 crore on the BSE. Man Infraconstruction (Rs 115.78 crore), Syncom Healthcare (Rs 109.04 crore), Tata Motors (Rs 78.95 crore) and State Bank of India (Rs 71.75 crore), were the other turnover toppers on the BSE.
Cals Refineries clocked a highest volume of 2.53 crore shares. Syncom Healthcare (83.58 lakh shares), Suven Life Sciences (71.76 lakh shares), Facor Alloys (61.74 lakh) and Krishna Lifestyle Technologies (55.66 lakh shares), were the other volume toppers on the BSE.
Market likely to get a flat-to-positive start
Headlines for the day:
GAIL in talks with Interoil for stake in Papua New Guinea project
L&T bags Rs 977-crore defence order
Biocon arm in pact with Endo Pharma
Events for the day:
Major corporate action
Shree Ganesh Jewellery House IPO closes today
Goenka Diamond & Jewels IPO opens today
Intrasoft Technologies IPO opens today
Engineers India to consider bonus and stock split today
Ex-date for rights issue of Adani Enterprises in the ratio of 1:16
Ex-date for bonus issue of Empower Industries India in the ratio of 23:2
Ex-date for final dividend of ACC
Ex-date for dividend of Foods & Inns
Pre-market report
Global signals
The European markets ended marginally higher on Monday, March 22, 2010, except FTSE 100, with banks and oil majors offsetting gains as investors reassess worries over debt problems in Greece.
The US markets gained on Monday, boosted by gains in the healthcare sector as passage of a bill to overhaul the system eased uncertainty for investors.
In today's trade, all the Asian indices are trading in the green zone, except Nikkei, as fall in the euro on a report saying, Greece may seek aid from the International Monetary Fund in April. At the time of writing this report, SGX Nifty was trading 34.50 point higher.
Indian markets
The Indian indices are likely to open flat to positive note on the back of mixed signals from the Asian markets. The Sensex snapped a four-day winning streak and dropped nearly 1% on Monday, owing to the global market scenario on Reserve Bank of India (RBI) increasing benchmark interest rates and Greece debt crisis. The Indian markets are expected to remain volatile throughout the session.
Commodity cues
In the commodity space, the Crude oil prices reported gains after the two consecutive session of losses, with the Nymex light crude oil for the April series up by $0.57 per barrel, whereas in the metals space, the Comex Gold for the April series declined by $8.10 and the Comex Silver for the May series was down by $0.09 to a troy ounce respectively.
Daily trend of FII/MF investment in equities
On March 22, 2010, FIIs were the net buyers of the Indian stocks to the tune of Rs393.50 crore, whereas the domestic mutual funds, on March 19, 2010, were also the net buyers of the stocks to the tune of Rs101.80 crore.
Grey Market Premiums - March 23 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| DQ Entertainment (Inter.) | 80 | 52 to 53 |
| Pradip Overseas | 100 to 110 | 15 to 17 |
| ILFS Transportation | 242 to 258 | 34 to 35 |
| Persistent Sys. | 290 to 310 | 135 to 140 |
| Shree Ganesh Jewellery | 260 to 270 | 16 to 18 |
| Infrasoft Technology | 137 to 145 | 62 to 65 |
| Goenka Diamond & Jewellery | 135 to 145 | 13 to 15 |
Market may recover on higher Asian stocks
The market may recover after Monday's (22 March 2010)'s slide triggered by a surprise hike in short term interest rates by the Reserve Bank of India (RBI). Most Asian stocks rose on the back of overnight rebound on the Wall Street.
Volatility may remain high as traders rollover positions in derivatives segment from the March 2010 series to the April 2010 series ahead of the expiry of the expiry of the near-month March 2010 derivatives contracts on Thursday, 25 March 2010. The market remains closed on Wednesday, 24 March 2010, on account of Ram Navmi.
The Reserve Bank of India (RBI) after trading hours on Friday 19 March 2010, unexpectedly raised interest rates from record-low levels, citing intensifying inflationary pressures and a steady economic recovery. The market had widely expected the RBI to raise rates soon, but the timing of its 25 basis-point hike for its key lending and borrowing rates, before the April 2010 policy review caught markets by surprise.
The RBI raised the repo rate, the rate at which it lends to banks to 5% from 4.75% and reverse repo rate, the rate which it absorbs funds from the system to 3.50% from 3.25% with immediate effect. India is the second major economy after Australia to start raising interest rates with signs of global recovery emerging and local price pressures picking up. China has raised its banks' reserve requirements but has left its rates unchanged.
The wholesale price index in Asia's third-largest economy accelerated to 9.89% in February, the highest since October 2008 and well above the central bank's end-March 2010 projection of 8.5% and the 8.56% reading for January 2010.
In the emergent scenario, low policy rates can complicate the inflation outlook and impair inflationary expectations, particularly given the recent escalation in the prices of non-food manufactured goods, the RBI said in a statement. While the recovery in growth has proceeded broadly along expected lines, the inflationary pressures have intensified beyond the central bank's baseline projection, the RBI said.
Encouraging Q4 March 2010 advance tax figures of top Indian firms, indicating good Q4 March 2010 results, had boosted the bourses last week. The market 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. The stock market gave a thumbs up to 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 growth 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.
Asian share markets were mostly higher Tuesday after gains on Wall Street Monday, with banks and materials stocks supporting the Australian market. Sentiment was also lifted by the passage of the US healthcare legislation in the House of Representatives late Sunday. The key benchmark indices in Hong Kong, Indonesia, South Korea, Singapore and Taiwan rose by between 0.3% to 1.4%. But the key benchmark indices in China and Japan fell by between 0.25% to 0.3%.
After a weak opening US stocks finally closed higher on Monday led by healthcare stocks as the passage of the health-care bill lifted uncertainty surrounding the legislation that was hanging over the market. The Dow Jones Industrial Average rose 43.91 points or 0.41% to 10784.89. The Nasdaq rose 20.99 points or 0.88% to 2395.40 and S&P 500 gained 5.91 points or 0.51% to 1,165.81.
Meanwhile, European leaders tried to allay concerns that they were unprepared to aid Greece easing pressure on higher-yielding assets. The ECB president said the central bank is prepared to reassess its collateral rules if necessary, softening its stance as Greece struggles to cut the region's largest budget shortfall.
Close home, the key benchmarks ended lower on Monday, 22 March 2010, snapping gains in the previous four trading sessions following an unexpected rate hike by the central bank. Weak global markets due to worries over Greece's debt crisis also weighed on investor sentiment. The BSE 30-share Sensex was down 167.66 points or 0.95% to 17,410.57
As per provisional figures on NSE, foreign funds bought shares worth Rs 302.78 crore and domestic funds sold shares worth Rs 33.14 crore on Monday.
Bullion metals turn pale for second straight day
Prices end lower as dollar stays strong for most part of the day
Precious metal prices ended lower for second straight day on Monday, 22 March 2010. Prices ended little lower as the dollar stayed strong for most part of the day. At the end, nevertheless, the dollar coughed up its gains.
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 $1,099.5 an ounce, lower by $8.1 (0.7%) an ounce on the New York Mercantile Exchange. This comes after last Friday's loss of 2%. Last week, gold gained 0.5%. In FY 2010, gold touched a high of $1,154 in January.
On Monday, May Comex silver futures ended lower by 10 cents (0.5%) at $16.93 an ounce. Last week, silver ended almost unchanged against last Friday's closing of $17.04.
In the currency market on Monday, the dollar index, which measures the strength of the dollar against basket of six other currencies fell by 0.2% at the end of the day after staying strong earlier.
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 90 (0.54%) at Rs 16,416 per ten grams. Prices rose to a high of Rs 16,515 per 10 grams and fell to a low of Rs 16,345 per 10 grams during the day's trading.
At the MCX, silver prices for May delivery closed Rs 51 (0.19%) lower at Rs 26,538/Kg. Prices opened at Rs 26,540/kg and fell to a low of Rs 26,180/Kg during the day's trading.
Daily News Roundup - March 23 2010
ONGC is in talks with three Russian companies for acquiring oil properties in Russia and CIS region. (ET)
The US Healthcare Bill, which proposes to create Electronic Health Records for all Americans by 2014, is expected to open up a US$20bn market opportunity for Indian IT services firms like Infosys, Wipro, TCS, Firstsource and MindTree. (BS)
GAIL is in talks with Canadian oil company Interoil Corp for a possible stake in its proposed LNG project in Papua New Guinea. (BS)
The Monetary Authority of Singapore granted ICICI Bank a qualified full banking status and allowed it to offer retail banking services. (ET)
Tata Motors signed an agreement with the Myanmarese government for setting up a heavy truck plant in the South-East Asian nation with an installed capacity of up to 5,000 units annually. (BS)
Having already launched two of its 'World Truck' variants, Tata Motors plans to launch 20 new variants in coming two years. (BS)
Tata Motors is investigating the latest incident in Mumbai of a new Nano catching fire, less than an hour after it was driven out of the showroom. (BL)
Bharat PetroResources, a wholly-owned subsidiary of BPCL, along with its partner Anadarko Petroleum Corporation of the US, has encountered more than 145 net meters of natural gas in reservoir sands with a gross column of more than 365 meters. (BS)
Zain board will meet on Wednesday to consider Bharti Airtel’s offer to buy out its African assets. (ET)
DLF has decided to resolve what appeared to be a conflict of business interest between itself and its erstwhile group company, DLF Assets, by merging the latter with a fully owned subsidiary. (BL)
NTPC plans to produce 500MW from renewable energy projects and proposes to set up a 1,000MW coal-based thermal power station at Khambhat, Gujarat. (BL)
Concerned over inordinate delay in implementation of NTPC projects, the CAG will look into contractual agreements entered into by the company with various suppliers and contractors to find out the reasons for delays. (ET)
L&T won Rs9.8bn contract from the Ministry of Defence for design and construction of 36 high-speed interceptor boats for the Indian Coast Guard. (BS)
Cipla is in talks with Piramal Healthcare to sell its emergency contraceptive drug brand, i-pill. (ET)
JSPL will sign a MoU with the Orissa government for setting up a Coal to Liquid project in Orissa. (BS)
MRPL plans to expand its presence in the petroleum retail business as soon as the government allows linking petrol and diesel sales to market prices. (BS)
Tata Chemicals is considering an entry into the staples segment. (BL)
Syngene International, the custom research subsidiary of Bangalore-based biopharmaceutical company Biocon, has entered into a discovery and development collaboration with Endo Pharmaceuticals of the United States to develop biological therapeutic molecules against cancer. (BS)
Exide Industries launched eco-friendly batteries for UPS applications that come with a three-year warranty. (BL)
Shree Renuka Sugars has completed the acquisition of Vale Do Ivai S/A Acucar E Alcool (VDI) a Brazilian sugar and ethanol production company and VDI has become a wholly owned subsidiary. (BL)
Crompton Greaves, in partnership with ZTR of Ukraine, bagged Rs6bn contract for the supply and commissioning of 765kV shunt reactors for PGCIL’s various projects across the country. (BL)
Offshore lenders to Wockhardt’s Swiss subsidiary may move court to lay claim to some of the parent’s assets in India, complicating matters for the debt-laden drug maker and its creditors. (ET)
Nagarjuna Construction expects Paschal Form Work (India) Pvt Ltd, its new JV with Paschal Werk G Maier GmbH, to post a turnover of Rs1bn in the first year of its operations. (BS)
Neyveli Lignite plans to generate 1,700MW under green technologies of the company’s total installed capacity of 10,000MW by the end of the 12th Five-Year Plan in 2017. (BS)
Great Eastern Shipping said it had taken board approval to bring an initial public offer for its subsidiary, Great Ship. (BS)
United Breweries Group is exiting its holding in Aventis Pharma by selling a 10.3% stake in the company, in a deal worth Rs4.1bn. (BS)
Jay Shree Tea is in the process of acquiring 100% stake in M. P. Chini Industries Ltd. (BL)
Dhanlaxmi Bank said it would raise Rs2bn in the last week of March from bonds to funds its business growth. (ET)
Petrol and diesel prices in 13 major cities are set to go up, the second hike in less than two months, with the petroleum ministry considering a higher price for Euro-IV complaint fuels. (BS)
The Planning Commission is likely to scale down the average growth rate for the eleventh plan period to 8% from the earlier 9%. (BS)
The Deputy Chairman, Planning Commission said, investment in the infrastructure sector during the XIth Plan will be close to the target of US$500bn, largely due to the telecom sector. (BL)
Indian Railways may have to rework sections of the route alignment of its Rs508bn dedicated freight corridor project to avoid acquiring land from those who are not ready to part with it. (BL)
The Minister for Petroleum and Natural Gas said that the domestic capacity to handle imported LNG is likely to rise by about 7mtpa to reach 20mtpa by 2011-12. (BL)
The government has directed public and private telecom players to get security clearance for procuring telecom equipment/software from foreign vendors. (ET)
The direct tax receipts are seen growing around 10% yoy and touch Rs3.6trn. (ET)
The government approved Rs6.5bn for a scheme that aims at improving compilation of statistical data for socio economic parameters for helping states better formulate their plans. (ET)
The final draft for GST could be out by May this year, after the empowered committee of state finance ministers meet next month. (FE)
Blink on the Street!
There can be as much value in the blink of an eye as in months of rational analysis - Malcolm Gladwell.
It is one of those days when you can’t get too much into rational analysis. After showing remarkable resilience in the wake of the RBI rate hike, the bulls gave up their fight post noon. The fall came on lower volume, which usually is the case on a Monday.
As for today we expect a slightly higher start and yet another choppy session. With the stock market shut on Wednesday and the F&O expiry on Thursday, we might see heightened volatility today. On the whole, the Nifty will remain rangebound between 5100 and 5300. Given that we will have quarterly results soon one should be cautious and wait for a clear trend to emerge.
US stocks resumed their advance following Friday’s fall. European benchmarks too recovered some of the lost ground despite the scare of Greece not securing funding this week from the EU. One needs to keep a watch on Europe in the next few days amid lack of cohesive European support for Greece. Asian markets are mixed. The Nikkei in Japan is down marginally, while the Hang Seng and others are mostly up.
FIIs were net buyers in the cash segment on Monday at Rs3.03bn on a provisional basis. Local funds were net sellers of Rs331.4mn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers of Rs3.51bn. On Friday, FIIs were net buyers of Rs3.94bn in the cash segment, as per the SEBI web site. Mutual Funds were net sellers of Rs1.01bn on the same day.
Engineers India could hog the limelight as its Board considers interim dividend, stock split and bonus.
US stocks closed up on Monday, with health care shares leading the way after the Congress approved a long overdue reform bill. A retreating dollar bolstered commodities, with natural-resource companies joining a broad-based rally.
The Dow Jones Industrial Average rose 44 points, or 0.4%, at 10,785.89, closing at a fresh 18-month high. The S&P 500 index gained 6 points, or 0.5%, to shut shop at 1,165.81. It closed just shy of the 18-month high hit last week. The Nasdaq Composite rose 21 points, or 0.9%, to 2,395.40, finishing at a more than 18-month high.
European shares trimmed losses to end fractionally lower, losing ground for the third straight session as investors fretted about India's rate hike and the lingering uncertainty surrounding Greece's fiscal issues.
The Stoxx Europe 600 index finished nearly flat at 259.93. European stocks edged back toward unchanged as Wall Street rebounded from Friday's losses.
The Greek ASE Composite Index lost 1.9% to 2,010.22, pulled down as National Bank of Greece's shares fell 2.1% and Piraeus Bank shares lost 2.5%.
Of the major European regional share indexes, the UK FTSE 100 index declined 0.1% to close at 5,644.54, the German DAX index rose 0.1% to settle at 5,987.50 and the French CAC-40 index ended 0.1% higher at 3,928.
The BSE Sensex snapped a four day winning streak on Monday after the RBI in a surprising move increased interest rates for first time in almost two years after inflation rate rose to 16-months high. The benchmark indices did show some resilience after a gap down opening, however as the day progressed, markets were unable to carry its upswing and finally lost ground. Realty, Auto and banking stocks were among the top losers.
Index heavyweight Reliance Industries was the major laggards, the stock single handedly dragged the BSE Sensex 34 points followed by ICICI Bank 28 points and HDFC 22 points.
Market breadth was weak as well, out of total 2919 stocks, 1,853 declined against 988 advances while 78 stocks remained unchanged.
Finally, the BSE Sensex slipped 168 points to end at 17,411 and NSE Nifty fell 58 points to close at 5,205.
In Asia, the Nikkei in Japan was closed, while Australia's S&P/ASX slipped by 0.9%. Shanghai SE Composite fell by 0.2% and Hang Seng index in Hong Kong was down 2%.
In Europe, stocks were trading with a negative bias. The DAX in Germany was down 0.7%, the CAC 40 index in France was down 0.9% and the FTSE in the UK was down 0.8%.
Coming back to India, among the BSE sectoral indices, the BSE Pharma index was only gainer, the index marginally added 0.2%. Among the top losers were, BSE Realty index was down 4% and the BSE Metal index was down 2.2%. The BSE Mid-Cap index ended lower by 1.2% while BSE Small-Cap index declined 0.8%.
Outside the frontline indices, the big losers in the broader market were Indiabulls Real Estate, GMDC, Jai Corp and Bharat Forge. On the other hand, gainers included M&M Finance, Max India, India Cement and Voltas.
The BSE announced that it will include Cipla in the Sensitive index from May 3 replacing Sun Pharmaceutical on the index. Shares of Cipla ended flat at Rs333, while Shares of Sun Pharma ended flat at Rs1702.
Shares of Bharti Airtel gained by 1.5% to end at Rs316 after reports stated that the company has finalised US$8.5bn of funding for its acquisition of the African assets of Kuwait’s Zain. In addition, the company is also likely to foray into 3G, telecom services in India. A consortium of banks led by Standard Chartered and Barclays would lend it US$7.5bn and SBI another US$1bn, reports added.
Shares of Lupin have new 52-week high of Rs1643 gaining 2% after the company announced that its US subsidiary, Lupin Pharmaceuticals, Inc received approval for the company's Abbreviated New Drug Application for Eszopiclone tablets, 1mg, 2mg and 3mg from the US Food and Drug Administration. Lupin's Eszopiclone tablets are the AB-rated generic equivalent of Sepracor's LUNESTA tablets,indicated for the treatment of insomnia.
L&T received a contract by the Ministry of Defence for the design and construction of 36 High Speed Interceptor Boats for the Indian Coast Guard. The contract is valued at Rs9.77bn, and is among one of the main initiatives being taken by the government to strengthen coastal security.
Shares of L&T edged lower by 0.2% to end at Rs1617. The scrip opened at Rs1621 it touched an intra-day high of Rs1623 and a low of Rs1581 and recorded volumes of over 0.19mn shares on BSE.
India Cements and United Breweries Holdings were in demand after an auction of the Indian Premier League (IPL) yesterday boosted the value of their cricket teams. In the latest addition to the IPL team, Sahara Adventure Sports of the Sahara Group won the Pune franchise with a record bid of US$370mn while, the second bid was for RsUS$333mn from a consortium of investors under Rendezvous Sports who opted for Kochi as their base camp.
| Company | CMP | % Change |
| India Cement | 129.0 | 1.5 |
| United Brew | 280.0 | 3.2 |
Shares of Bata India gained by 1.5% to end at Rs242 after reports stated that the company was planning to sell a piece of land to buy the shops it’s renting. The property is located in the eastern Indian city of Kolkata and is worth as much as Rs3bn, reports added.
Shares of Indage Vintners fell over 7% to Rs47.8 after the company announced that a petition filed by certain lenders came up for hearing before the High Court of Judicature at Bombay and the Hon'ble Court passed an order directing that the Company be wound up based on the petition filed by lenders.
It is the Company's contention that notwithstanding the order passed by the Hon'ble Court, it is not expedient to wind up the business at this stage and therefore the Board of Directors in its meeting held on March 19, 2010, has decided to challenge the said order by filing an appeal in the competent Court.
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