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Thursday, March 25, 2010
Nifty April 2010 futures at premium
Turnover rises
Nifty April 2010 futures were at 5,277, at a premium of 16.60 points over spot closing of 5,260.40. Turnover in NSE's futures & options (F&O) segment surged to Rs 1,36,971.02 crore from Rs 1,18,690.10 crore on Tuesday, 23 March 2010.
The near-month March 2010 derivatives contracts expired today, 25 March 2010. Rollover in Nifty futures was 52% at the end of Tuesday's (23 March 2010)'s trade. Rollover in Mini Nifty futures was 44% while the market wide Rollover was 55%. Rollover was low in REC, Union Bank of India, GAIL India, Hindalco and Welspun Gujarat Stahl Rohren, till Tuesday. The stock market was closed on Wednesday for a public holiday.
Bharat Heavy Electricals April 2010 futures were at premium at 2388.10 compared to the spot closing of 2385.
Larsen & Toubro April 2010 futures were at premium at 1642.25 compared to the spot closing of 1634.10.
Suzlon Energy April 2010 futures were at a slight premium at 73.35 compared to the spot closing of 72.70.
In the cash market, the S&P CNX Nifty rose 35.10 points or 0.67% at 5,260.40.
Choppy moves in Asian stocks
Stocks punished on Portugal downgrade, late rebound seen in select markets
Asian equities ended mostly lower in a choppy trading session as markets were pushed lower by fading risk appetite amid continuous strength in the US dollar and falling commodity prices. The weak overnight cues from the US markets and worries over the Portugal sovereign ratings downgrade stressed the sentiments on the bearish side throughout the day with mega sell off in China undercutting the fragile attempts by bulls to stage a rebound during the end of the session. Japan and India were the notable exceptions to end in green though.
Economic concerns lingered across the asset markets as the US dollar rose under 1.3300 against Euro as the downgrading of credit rating on Portugal by Fitch and uncertainty over Greece debt problems continued to help the greenback. The Australian market ended in negative territory with minor losses, taking cues from Wall Street where the major averages ended in negative territory with modest losses amid weaker-than-expected economic data related to new home sales and appreciation of the US dollar. The benchmark S&P/ASX200 Index declined 6.10 points, or 0.12% to close at 4,885, while the All-Ordinaries Index ended at 4,896, representing a gain of 6.90 points, or 0.12%.
On the economic front, the Reserve Bank of Australia, releasing the latest semi-annual financial stability review report, opined that conditions in the global financial system have continued to improve in recent months but a range of challenges and uncertainties remain. It further noted that banks' overall loan losses may have peaked and that profits are beginning to grow again, albeit against a backdrop of continued uncertainty in the global financial system.
China's stocks fell the most in two weeks, led by developers on concern that rising trade tensions will hurt the outlook for exports and the government may further tighten policy to curb asset bubbles. The country's Vice Minister of Commerce Zhong Shan said pressuring China to revalue its currency wouldn't succeed. The Shanghai Composite Index lost 37.63, or 1.2%, to 3,019.18 at the close, the biggest decline since March 12. The Shanghai stock gauge has lost 7.9 percent this year, as the government stepped up measures to cool economic growth and contain inflation. China, which has held the renminbi at about 6.83 per dollar for the past 20 months to aid exporters, has been criticized by US. The world's largest economy is looking for the Obama administration to take retaliatory action through import tariffs.
While most of the other indices ended in red, the stock market in Japan ended in positive territory with minor gains. The benchmark Nikkei 225 Index advanced 13.82 points, or 0.13%, to 10,829, while the broader Topix index of all First Section issues gained 0.16 points, or 0.02%, to 952. On the economic front, a report released by the Bank of Japan revealed that an index measuring corporate service prices in the country declined 1.3% year-over-year during February, coming in at 97.4. The report further noted that, on a monthly basis, corporate service prices were up 0.1% after retreating 0.4% in the previous month.
In Mumbai, the key benchmark indices reversed intraday losses and surged to fresh intraday highs in late trade tracking higher European stocks and gains in US index futures. The BSE 30-share Sensex was provisionally up 110.46 points or 0.63%, up close to 180 points from the day's low and off close to 15 points from the day's high. Index heavyweight Reliance Industries reversed early losses. Banking, capital goods, FMCG and realty stocks rose. Some side counters surged even as the market breadth, indicting overall health of the market, was negative.
The Euro broke below 1.3300 in Asia today and plummeted to its fresh low in 10 months ahead of the key EU summit over a financial aid package for Greece as the sentiments grew heavy against the single currency and markets eyed the fragile undertone in the risky assets. The summit could include an unprecedented intervention by the IMF in Euro zone affairs but a lack of such a move may bring even more worries for the Euro as the Greece contagion spread around the entire region. Greece's debt crisis and a credit downgrade for fellow Euro zone member Portugal yesterday helped drag down the value of the euro, which slumped to a low of 1.3283 against the dollars today.
Commodities were punished by the investors following the rise in US dollar. Gold futures fell to nearly a six-week low of around 1090 per ounce while Light sweet crude oil futures for May delivery ended at $80.36 a barrel in electronic trading, down $0.25 per barrel from previous close at $80.61 a barrel in New York on Wednesday.
BSE Bulk Deals to Watch - March 25 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
25/3/2010 530093 Ace India SANGITAKALPESH CHAWALLA B 50000 28.72
25/3/2010 530093 Ace India PRIYANKA MARRIAGE TRUST B 25000 28.72
25/3/2010 530093 Ace India VEDPRAKASHNARULA S 150000 28.72
25/3/2010 513149 Acrow India RAJENDRA KUMAR RATANCHANDOSWAL B 20000 147.50
25/3/2010 513149 Acrow India VIRENDRA NAVNITLAL & CO B 8000 145.70
25/3/2010 513149 Acrow India SHIRISHKUSUMCHANDRASHAH B 5000 141.05
25/3/2010 513149 Acrow India AADHARASHOK SIGTIA B 5000 147.25
25/3/2010 513149 Acrow India ATULHASMUKHLALSHAH B 5000 147.50
25/3/2010 513149 Acrow India FATIMASIMON LOBO B 5000 141.20
25/3/2010 513149 Acrow India SHILPA SAMIRBHAI SHAH B 10000 138.03
25/3/2010 513149 Acrow India SAMIR PRAKASHBHAI SHAH HUF B 9969 138.52
25/3/2010 513149 Acrow India PRAKASHMAHENDRAKUMAR MEHTA B 5000 136.50
25/3/2010 513149 Acrow India RAJENDRA KUMAR RATANCHANDOSWAL S 20000 138.27
25/3/2010 513149 Acrow India VIRENDRA NAVNITLAL & CO S 8000 138.38
25/3/2010 513149 Acrow India SHIRISHKUSUMCHANDRASHAH S 5000 147.25
25/3/2010 513149 Acrow India AADHARASHOK SIGTIA S 5000 141.05
25/3/2010 513149 Acrow India ATULHASMUKHLALSHAH S 5000 141.20
25/3/2010 513149 Acrow India FATIMASIMON LOBO S 5000 147.50
25/3/2010 513149 Acrow India SHILPA SAMIRBHAI SHAH S 10000 147.50
25/3/2010 513149 Acrow India SAMIR PRAKASHBHAI SHAH HUF S 9969 147.49
25/3/2010 513149 Acrow India PRAKASHMAHENDRAKUMAR MEHTA S 5000 145.10
25/3/2010 530135 Akanksha Fin KAMALESHWAR B 19385 15.22
25/3/2010 531400 Almondz Glob HARJIT SINGH SETHI HUF B 125000 56.00
25/3/2010 531400 Almondz Glob PRITPALKAURMANOHERSINGHCHADHA B 125000 49.25
25/3/2010 531400 Almondz Glob HARJIT SINGH SETHI HUF S 125000 49.25
25/3/2010 531400 Almondz Glob JASMEETKAURSETHI S 125000 56.00
25/3/2010 507526 Associated Alco URVI KAGUPTA B 50100 29.57
25/3/2010 507526 Associated Alco CAPTIVE COMMERCE PVT LTD B 50100 31.55
25/3/2010 507526 Associated Alco URVI KAGUPTA S 50100 31.55
25/3/2010 507526 Associated Alco CAPTIVE COMMERCE PVT LTD S 50100 29.55
25/3/2010 507944 Bajaj Steel RAHUL DOSHI B 11120 300.72
25/3/2010 507944 Bajaj Steel NARESHCHAND JAIN B 11352 304.97
25/3/2010 507944 Bajaj Steel SHAILESHMAHENDRALAL PATEL B 17772 307.54
25/3/2010 507944 Bajaj Steel RAHUL DOSHI S 19110 296.02
25/3/2010 507944 Bajaj Steel NARESHCHAND JAIN S 11352 307.51
25/3/2010 507944 Bajaj Steel SHAILESHMAHENDRALAL PATEL S 17772 304.33
25/3/2010 500038 Balrampur Chini DILIP B DESAI S 1420000 91.10
25/3/2010 531591 Bampsl Sec PRAKASH CHAND GUPTA B 937966 1.72
25/3/2010 508664 Best Eastern Hot RAJENDRA KUMAR RATANCHANDOSWAL B 10000 98.50
25/3/2010 508664 Best Eastern Hot SANGHAVI ATUL AMRUITLAL (HUF) B 10000 92.55
25/3/2010 508664 Best Eastern Hot SAMIR PRAKASHBHAI SHAH HUF B 10000 91.55
25/3/2010 508664 Best Eastern Hot RAJENDRA KUMAR RATANCHANDOSWAL S 10000 91.55
25/3/2010 508664 Best Eastern Hot SAMIR PRAKASHBHAI SHAH HUF S 10000 98.50
25/3/2010 533108 BHILWRA TEC SHASHI AGARWAL B 2637576 6.96
25/3/2010 533108 BHILWRA TEC SHUCHI AGARWAL B 1712685 6.96
25/3/2010 533108 BHILWRA TEC PURVI VANIJYA NIYOJAN LTD S 1756378 6.96
25/3/2010 533108 BHILWRA TEC NIVEDAN VANIJYA NIYOJAN LIMITED S 1712685 6.96
25/3/2010 533108 BHILWRA TEC INVESTORS INDIA LIMITED S 881198 6.96
25/3/2010 500083 Century Extr MAHIPAT IWDARMAL MEHTA B 485960 10.34
25/3/2010 500083 Century Extr MAHIPAT IWDARMAL MEHTA S 488883 10.34
25/3/2010 531337 Channel Guide MULTIPLEX CAPITAL LTD. B 30000 13.27
25/3/2010 531337 Channel Guide PARVEEN AGGARWAL S 30000 13.28
25/3/2010 533026 Chemcel Bio ACME FURNITURE PRIVATE LIMITE B 754606 8.36
25/3/2010 533026 Chemcel Bio REKHA BHANDARI S 349603 8.44
25/3/2010 531358 Choice Intl ACHALA ELECTRICALS PRIVATE LIMITED B 44322 119.41
25/3/2010 531358 Choice Intl ACHALA ELECTRICALS PRIVATE LIMITED S 40342 117.31
25/3/2010 526141 Compact Disc VIJIT SHARES AND COMMODITIES PVT LTD B 74100 87.20
25/3/2010 526141 Compact Disc BP FINTRADE PRIVATE LIMITED B 68025 87.20
25/3/2010 526141 Compact Disc VIJIT SHARES AND COMMODITIES PVT LTD S 70004 87.03
25/3/2010 526141 Compact Disc JMP SECURITIES PVT LTD S 66982 86.86
25/3/2010 526141 Compact Disc BP FINTRADE PRIVATE LIMITED S 68035 86.99
25/3/2010 523415 Coventry Coil MANISH N LAVTI B 22520 6.81
25/3/2010 523415 Coventry Coil RAMESH P LAVTI S 22520 6.81
25/3/2010 530393 DB Intl Stock SHASHANKO COMMOTRADE P LTD B 68506 145.02
25/3/2010 532760 Deep Inds ARCADIA SHARE & STOCK BROKERS PVT. LTD B 133141 111.00
25/3/2010 532760 Deep Inds ARCADIA SHARE & STOCK BROKERS PVT. LTD S 145298 110.72
25/3/2010 517973 DMC Intl CNB FINWIZ LIMITED B 120000 17.94
25/3/2010 505242 Dynamatic Tech CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED B 142825 1231.94
25/3/2010 505242 Dynamatic Tech NEW VERNON INDIA LIMITED S 139065 1234.00
25/3/2010 532823 Euro Ceramics REGENCY TRUST LIMITED B 114000 43.97
25/3/2010 532823 Euro Ceramics FAIRDEAL INFIN SERVICES PVT LTD S 114000 43.97
25/3/2010 511668 Fact Enterprise ARVINDNATVARLALMEHTA B 37647 41.64
25/3/2010 511668 Fact Enterprise N K AGARWAL &SONS B 80000 41.65
25/3/2010 511668 Fact Enterprise SURESHRAGHUPOOJARI S 150000 41.65
25/3/2010 511668 Fact Enterprise NEHA KHAN DELIA S 60000 41.65
25/3/2010 511668 Fact Enterprise SURESH MEHTA S 30000 41.65
25/3/2010 511668 Fact Enterprise KALPESHJASUBHAI PATEL S 60000 41.65
25/3/2010 532768 FIEM Inds JANANI VINIMAY PRIVATE LIMITED B 60000 100.40
25/3/2010 532768 FIEM Inds MANMOHAN DAMANI S 60000 100.40
25/3/2010 512219 Finaventure Cap SUDAR GARMENTS PRIVATE LIMITED B 385000 83.98
25/3/2010 512219 Finaventure Cap FINAVENTURE ADVISORY SERVICES INDIA PRIVATE LIMITED S 387644 83.90
25/3/2010 532139 G Tech Info YOGENDRARAJSINGHVI S 500000 5.28
25/3/2010 531904 Globus Corp PRAKASH BI.DHEBAR HUF B 1245506 1.10
25/3/2010 531904 Globus Corp FOUNTAIN VANIJYA PRIVATE LIMITED S 1313599 1.10
25/3/2010 513059 GS Auto NILESH EKNATH BHOIR B 44128 48.04
25/3/2010 513059 GS Auto SONALBHUPENDRABHAIKAMODIA B 70000 48.38
25/3/2010 513059 GS Auto NILESH EKNATH BHOIR S 49422 48.22
25/3/2010 513059 GS Auto SHARDA ISPAT ROLLERS PRIVATE LIMITED S 70949 47.62
25/3/2010 515147 Haldyn Glass SUNITA DUGAR B 311060 18.99
25/3/2010 532216 HB Stock DELHI IRON AND STEEL COMPANY PRIVATE LIMITED B 825000 29.00
25/3/2010 532216 HB Stock VIJAY KUMAR AGGARWAL S 820159 29.00
25/3/2010 509635 Hindustan Compo BHARATJAYANTILALPATEL B 133460 336.00
25/3/2010 509635 Hindustan Compo FIDELITY MULTITRADE PVT. LTD. S 50000 336.00
25/3/2010 509635 Hindustan Compo PRASHANT PATEL S 100000 336.39
25/3/2010 522073 Hitech Gears ANILCHANDANMALSINGHVI B 181526 110.05
25/3/2010 522073 Hitech Gears ANAGHA INVESTMENT PVT LTD. S 183791 110.11
25/3/2010 522064 Honda Siel Power NEELAM LEFIN LTD B 96291 374.25
25/3/2010 522064 Honda Siel Power PAN EMAMI COSMED PVT LTD S 96291 374.25
25/3/2010 511682 IFL Promoters CENTENARY SOFTWARE PVT LTD B 24409 10.93
25/3/2010 511682 IFL Promoters SHIVCHARAN DASSMITTAL B 20000 9.95
25/3/2010 511682 IFL Promoters CENTENARY SOFTWARE PVT LTD S 28109 10.28
25/3/2010 511682 IFL Promoters SHIVCHARAN DASSMITTAL S 20000 11.00
25/3/2010 522059 Indage Vintners SAL REAL ESTATE PRIVATE LIMITED B 150000 33.83
25/3/2010 524400 Ishita Drugs DIPAK K SHAH B 30000 12.34
25/3/2010 523467 Jai Mata Glass KAMALA JAJU B 100000 3.84
25/3/2010 523467 Jai Mata Glass LIFECYCLE INFOTECH PRIVATE LIMITED B 146879 3.84
25/3/2010 523467 Jai Mata Glass NARAYAN SARAWAGI S 111600 3.84
25/3/2010 505840 Jaipan Inds SONU SINGH B 41546 24.72
25/3/2010 507796 Jhaveri Flexo VIKABH SECURITIES PRIVATE LIMITED B 200000 33.75
25/3/2010 507796 Jhaveri Flexo ABHINAV CAPITAL SERVICES LIMITED S 200000 33.75
25/3/2010 532518 JK Agri Genetics TRIMURTHI ADVISORY SERVICES (P) LTD. B 120475 155.37
25/3/2010 532518 JK Agri Genetics KRISHNAGOPAL MOTILAL CHANDAK S 119415 155.33
25/3/2010 511092 JMD Telefilms ASHOKHARGOVINDASSONI B 340000 79.78
25/3/2010 511092 JMD Telefilms DB (INTL) OWN TRADING S 400000 79.75
25/3/2010 530955 Kailash Ficom PRIME DPRIME DYES & CHEMICALS CO.PVT. LTD B 53000 28.00
25/3/2010 530955 Kailash Ficom ASISH KARNANI S 55000 28.00
25/3/2010 523810 Kaleidoscope Films DAULAT JAIN B 350000 6.28
25/3/2010 523810 Kaleidoscope Films PRAKASH BI.DHEBAR HUF S 500000 6.28
25/3/2010 530255 KAY Power BAMPSL SECURITIES LTD B 492225 15.51
25/3/2010 530255 KAY Power ANJU GUPTA B 173100 16.24
25/3/2010 530255 KAY Power BAMPSL SECURITIES LTD S 370108 15.63
25/3/2010 530255 KAY Power ASHOKKUMAR SONI S 84976 15.71
25/3/2010 530255 KAY Power SUNILKUMAR GUPTA S 125000 15.60
25/3/2010 530255 KAY Power SUNDERDASS AGARWAL S 150000 15.31
25/3/2010 530255 KAY Power ANJU GUPTA S 66000 15.30
25/3/2010 507946 Kiduja India SANMITRA COMMERCIAL LTD B 11000 30.00
25/3/2010 507946 Kiduja India R M STOCK TRADE S 11000 30.00
25/3/2010 531602 Koffee Break JASWANT DIPCHAND MEHTA B 380000 1.36
25/3/2010 531602 Koffee Break SURGYAN MAKHANLAL CHIRANIA B 500000 1.39
25/3/2010 531602 Koffee Break BABULAL B JAIN HUF B 632270 1.36
25/3/2010 531602 Koffee Break PARIMALJASWANTRAI MEHTA S 380000 1.36
25/3/2010 531602 Koffee Break BABULALBHURMAL JAIN S 632270 1.36
25/3/2010 500254 Lloyds Steel PNV ENTERPRISES PVT LTD B 4600000 14.40
25/3/2010 500254 Lloyds Steel BAIJNATH MANIRAM S 4600000 14.40
25/3/2010 532796 Lumax Auto Tech PREMJAYANTI INFRASTRUCTURE PRIVATE LIMITED B 92250 97.30
25/3/2010 532796 Lumax Auto Tech INNOVATE SECURITIES PVT L S 100000 97.33
25/3/2010 590111 MASTER VENMKATADURGA NAGESWARARAO ATLURI B 27001 39.45
25/3/2010 590111 MASTER NAVEEN MORTHA S 30800 39.29
25/3/2010 531221 Mayur Floorings VORA CONSTRUCTION LTD B 60000 6.35
25/3/2010 531221 Mayur Floorings SURESH BHOORCHAND SHAH S 60000 6.35
25/3/2010 512267 Media Matrix ANIL BABULAL VEDMEHTA B 453713 5.60
25/3/2010 512267 Media Matrix KUMARHARANSUMEETH S 500000 5.60
25/3/2010 522298 Micro Forge AMITNARENDRAPATEL B 62600 4.23
25/3/2010 522298 Micro Forge NILESH NARSHI VORA S 62100 4.23
25/3/2010 532127 Mobile Telecom MEDIA SAVVY (INDIA) LTD S 1266570 3.01
25/3/2010 531834 Natura Hue Chem AHMED SAYED B 46603 18.86
25/3/2010 531834 Natura Hue Chem AHMED SAYED S 44031 18.05
25/3/2010 523820 Neo Corp PAWANSUT TIE UP PRIVATE LIMITED S 50000 48.50
25/3/2010 511523 Niyati Inds VEENABEN PRAKASHBHAI SHAH S 259979 0.64
25/3/2010 531996 Odyssey Corp RANISATI DEALER PRIVATE LIMITED S 40000 77.16
25/3/2010 531496 Omkar Overseas PINABEN PRAKASHKUMAR SHETH B 30000 67.05
25/3/2010 531496 Omkar Overseas HITESHKANABHAIBHUTIYA B 25700 67.55
25/3/2010 531496 Omkar Overseas PRAKASHKUMAR DEVSHILAL SHETH S 25000 67.55
25/3/2010 512097 Oregon Comm SONI KRUPA SANJAY B 5176 204.61
25/3/2010 512097 Oregon Comm NIRMALA MAHIPAL B 7100 208.47
25/3/2010 512097 Oregon Comm KRUPA SANJAY SONI B 45486 207.36
25/3/2010 512097 Oregon Comm KRUPASANJAYSONI B 22700 207.66
25/3/2010 512097 Oregon Comm SANJAYJETHALALSONI B 21506 208.70
25/3/2010 512097 Oregon Comm KRUPASANJAY SONI B 7611 207.31
25/3/2010 512097 Oregon Comm DYNAMIC STOCK BROKING INDIA PVT LTD B 5356 209.19
25/3/2010 512097 Oregon Comm PATEL SHAILESH JIVANLAL B 7690 210.00
25/3/2010 512097 Oregon Comm SONI KRUPA SANJAY S 5100 205.73
25/3/2010 512097 Oregon Comm KRUPA SANJAY SONI S 17992 209.76
25/3/2010 512097 Oregon Comm PRADEEP NARENDRA BHATT S 5000 206.60
25/3/2010 512097 Oregon Comm NIMAI AGENCIES PRIVATE LIMITED S 5900 184.13
25/3/2010 512097 Oregon Comm USHABENANILKUM ARAGARWAL S 19000 210.01
25/3/2010 512097 Oregon Comm ANILKUMARKAILASHPRASAD AGARWAL S 26000 210.00
25/3/2010 512097 Oregon Comm DYNAMIC STOCK BROKING INDIA PVT LTD S 5356 209.56
25/3/2010 512097 Oregon Comm SHYAM CONSTRUCTION S 7950 210.20
25/3/2010 570002 PANTALBNDVR PANTALOON INDUSTRIES LIMITED B 225000 260.00
25/3/2010 570002 PANTALBNDVR CHASTE INVESTRADE PVT LTD S 225000 260.00
25/3/2010 532979 Piramal Life JMP SECURITIES PVT LTD B 362494 147.53
25/3/2010 532979 Piramal Life JMP SECURITIES PVT LTD S 415208 145.68
25/3/2010 531467 Polypro Fibrils PRITI JAYESH SHAH B 30000 27.35
25/3/2010 530695 Prime Property RUPA PRADIP SHAH B 100000 56.00
25/3/2010 530695 Prime Property PRADIPBHAI NATHALAL SHAH S 100000 56.00
25/3/2010 531688 Prithvi Soft NAKHATMAL TIKAMDAS (HUF) B 53616 16.47
25/3/2010 531688 Prithvi Soft SUGAL & DAMANI PRO ACCOUNT S 46764 16.50
25/3/2010 532689 PVR NEEPAK SHAH B 147300 177.10
25/3/2010 532689 PVR ALPHASHAHSHAH S 147269 177.10
25/3/2010 590077 Ranklin Sol MANIKYALA RAOVURA B 26420 56.77
25/3/2010 590077 Ranklin Sol RAMESH KUMAR TUMMAPALA S 26420 56.77
25/3/2010 531033 Regal Entert VSL SECURITIES PVT LTD B 28251 7.30
25/3/2010 531033 Regal Entert RAJ KUMAR S 27961 7.18
25/3/2010 531646 RFL Intl LAXMI KUMAR TULSHAN HUF B 35000 7.65
25/3/2010 531646 RFL Intl GAUTAM UTTAMCHAND HUF B 40451 7.75
25/3/2010 531646 RFL Intl ABHIJAI INVESTMENT S 145000 7.65
25/3/2010 530271 Rich Capital SCOPE VYAPAR PRIVATE LIMITED B 65000 91.60
25/3/2010 512359 Rotam Comm NIMAI AGENCIES PRIVATE LIMITED B 9000 140.27
25/3/2010 512359 Rotam Comm SHYAM CONSTRUCTION B 11500 133.90
25/3/2010 512359 Rotam Comm S B MALANI SONS S 24111 133.92
25/3/2010 500350 RSWM NIVEDAN VANIJYA NIYOJAN LIMITED B 180000 103.10
25/3/2010 500350 RSWM SHASHI AGARWAL S 277476 103.10
25/3/2010 531099 Rubra Med OMPRAKASHRATANLALBIYANI S 50000 18.35
25/3/2010 500368 Ruchi Soya V S NET LTD B 1400000 97.80
25/3/2010 500368 Ruchi Soya E-SIGHT FINANCE LTD S 1400000 97.80
25/3/2010 531569 Sanjivani Par ASUTOSH PRAMODCHANDRA MEHTA B 35000 49.73
25/3/2010 512529 Sequent Scientific PR VYAPAAR PRIVATE LIMITED B 150000 130.00
25/3/2010 512529 Sequent Scientific ARTISTIC FINANCE PVT LTD S 150702 130.03
25/3/2010 526510 Shakti Metdor SILPA SHELTERS LIMITED B 25000 176.28
25/3/2010 531693 Shri Ganesh Spi CHANDRAKANTBSHAH B 365827 11.83
25/3/2010 531693 Shri Ganesh Spi PAHARIYAPAHARIYA B 600000 11.79
25/3/2010 531693 Shri Ganesh Spi JIGNESHCHANDRAKANTSHAH S 554979 12.72
25/3/2010 531693 Shri Ganesh Spi KAUSHIK SHAH SHARES & SEC. LTD S 350000 11.71
25/3/2010 532961 Sita Shree Food PRAGNESHJAGDISHBHAIPATEL B 240247 11.25
25/3/2010 532961 Sita Shree Food PRAGNESHJAGDISHBHAIPATEL S 231262 11.41
25/3/2010 526479 SKY Inds VIJAYJAMNADASVORA S 57000 101.91
25/3/2010 531645 Southern Ispat MURARI KRISHNARAMUKA B 75000 24.59
25/3/2010 531645 Southern Ispat RAJANBABUVGADDAM B 80000 25.12
25/3/2010 532669 Southern Onlin PNV ENTERPRISES PVT LTD B 1200000 22.60
25/3/2010 532669 Southern Onlin M P RECYCLING CO PVT LTD S 1200000 22.60
25/3/2010 531373 Suave Hotels OMPRAKASH S RUIA B 80000 45.00
25/3/2010 531373 Suave Hotels ALKEN MANAGEMENT & FINANCIAL S S 116051 45.00
25/3/2010 532516 Surya Pharma SMART EQUITY BROKERS PRIVATE LIMITED B 95428 183.28
25/3/2010 532516 Surya Pharma OPG SECURITIES P LTD B 81208 184.83
25/3/2010 532516 Surya Pharma SMART EQUITY BROKERS PRIVATE LIMITED S 95428 183.33
25/3/2010 532516 Surya Pharma OPG SECURITIES P LTD S 81208 184.89
25/3/2010 533157 SYNCOM HEAL GENUINE STOCK BROKERS PVT. LTD. B 587395 141.04
25/3/2010 533157 SYNCOM HEAL SMART EQUITY BROKERS PRIVATE LIMITED B 208663 142.99
25/3/2010 533157 SYNCOM HEAL TRANSGLOBAL SECURITIES LTD. B 322989 139.58
25/3/2010 533157 SYNCOM HEAL VIMALJITENDRABHAIDALAL B 146016 137.40
25/3/2010 533157 SYNCOM HEAL A K G STOCK BROKERS PRIVATE LIMITED B 141178 139.75
25/3/2010 533157 SYNCOM HEAL ZANKARSINHKISHOREBHAI SOLANKI B 89376 142.72
25/3/2010 533157 SYNCOM HEAL HARSHADP PNACHAL B 115268 131.92
25/3/2010 533157 SYNCOM HEAL RAVINDERREDDYNANDI B 150000 139.81
25/3/2010 533157 SYNCOM HEAL MATRIX EQUITRADE PRIVATE LIMITED LIMITED B 185740 141.58
25/3/2010 533157 SYNCOM HEAL AMRAPALI CAPITAL AND FINANCE SERVICES LIMITED B 393280 144.79
25/3/2010 533157 SYNCOM HEAL CHANDARANA INTERMIDIARY BROKERS PVT LTD B 95796 138.41
25/3/2010 533157 SYNCOM HEAL MARWADI SHARES AND FINANCE LTD. B 275415 140.27
25/3/2010 533157 SYNCOM HEAL SANJEEV SINGHAL B 256013 141.97
25/3/2010 533157 SYNCOM HEAL OPG SECURITIES P LTD B 208110 142.19
25/3/2010 533157 SYNCOM HEAL ANITA SINGHAL B 95141 141.18
25/3/2010 533157 SYNCOM HEAL JOLLY ANKITBHAI SHAH B 110000 138.49
25/3/2010 533157 SYNCOM HEAL R M SHARES TRADING PRIVATE LIMITED B 191283 140.69
25/3/2010 533157 SYNCOM HEAL ADITYANITINBHAI PAREKH B 100000 135.30
25/3/2010 533157 SYNCOM HEAL CHD CAPITAL LIMITED B 100292 142.85
25/3/2010 533157 SYNCOM HEAL RAKHIKALPESH BHANDARI B 102772 140.46
25/3/2010 533157 SYNCOM HEAL NAVEEN TAPARIA B 130745 142.40
25/3/2010 533157 SYNCOM HEAL GENUINE STOCK BROKERS PVT. LTD. S 587395 141.03
25/3/2010 533157 SYNCOM HEAL SMART EQUITY BROKERS PRIVATE LIMITED S 208663 143.06
25/3/2010 533157 SYNCOM HEAL TRANSGLOBAL SECURITIES LTD. S 322989 139.44
25/3/2010 533157 SYNCOM HEAL VIMALJITENDRABHAIDALAL S 146016 138.40
25/3/2010 533157 SYNCOM HEAL A K G STOCK BROKERS PRIVATE LIMITED S 141178 139.44
25/3/2010 533157 SYNCOM HEAL ZANKARSINHKISHOREBHAI SOLANKI S 89376 146.85
25/3/2010 533157 SYNCOM HEAL HARSHADP PNACHAL S 115268 138.59
25/3/2010 533157 SYNCOM HEAL RAVINDER REDDYNANDI S 156925 142.15
25/3/2010 533157 SYNCOM HEAL MATRIX EQUITRADE PRIVATE LIMITED LIMITED S 185740 141.67
25/3/2010 533157 SYNCOM HEAL AMRAPALI CAPITAL AND FINANCE SERVICES LIMITED S 393280 136.48
25/3/2010 533157 SYNCOM HEAL CHANDARANA INTERMIDIARY BROKERS PVT LTD S 95796 138.24
25/3/2010 533157 SYNCOM HEAL MARWADI SHARES AND FINANCE LTD. S 275415 140.33
25/3/2010 533157 SYNCOM HEAL SANJEEV SINGHAL S 256013 141.96
25/3/2010 533157 SYNCOM HEAL OPG SECURITIES P LTD S 208110 142.19
25/3/2010 533157 SYNCOM HEAL ANITA SINGHAL S 95141 141.10
25/3/2010 533157 SYNCOM HEAL JOLLY ANKITBHAI SHAH S 110000 137.09
25/3/2010 533157 SYNCOM HEAL R M SHARES TRADING PRIVATE LIMITED S 191283 140.64
25/3/2010 533157 SYNCOM HEAL SAGAR RAJESHBHAI JHAVERI S 88500 145.88
25/3/2010 533157 SYNCOM HEAL ADITYANITINBHAIPAREKH S 99921 141.44
25/3/2010 533157 SYNCOM HEAL CHD CAPITAL LIMITED S 100292 135.55
25/3/2010 533157 SYNCOM HEAL RAKHIKALPESH BHANDARI S 102772 140.55
25/3/2010 533157 SYNCOM HEAL NAVEEN TAPARIA S 130745 142.56
25/3/2010 530595 Telecanor Glob UDAY GHIYA S 42929 27.10
25/3/2010 533164 Texmo Pipes SUNEET LAL B 64294 104.96
25/3/2010 533164 Texmo Pipes ADITYANITINBHAI PAREKH B 75075 103.75
25/3/2010 533164 Texmo Pipes SUNEET LAL S 64294 104.93
25/3/2010 533164 Texmo Pipes ADITYANITINBHAI PAREKH S 75075 106.35
25/3/2010 517228 Trend Elect JOY HOLDINGS PVT LTD B 367500 37.00
25/3/2010 517228 Trend Elect LOTUS GLOBAL INVESTMENTS LTD. B 367500 37.00
25/3/2010 517228 Trend Elect ASHOKKUMARPARMAR S 735000 37.00
25/3/2010 530321 Unimin India JASBIR KAUR BAKSHI S 200000 13.72
25/3/2010 532389 Valecha Engr AASHKA CONSTRUCTION PRIVATE LIMITED B 150000 124.29
25/3/2010 532389 Valecha Engr BHAWARLAL JAJOO B 80000 123.80
25/3/2010 532389 Valecha Engr JUPITER PAF INVESTMENTS LIMITED S 233876 124.57
25/3/2010 531249 Well Pack Papers SUNIL BHANDARI B 624882 28.88
25/3/2010 531396 Women Networks SANJU KABRA B 18000 21.91
* B - Buy, S - Sell
NSE Bulk Deals to Watch - March 25 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
25-MAR-2010,AJANTPHARM,Ajanta Pharma Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,83516,193.48,-
25-MAR-2010,DSKULKARNI,DS Kulkarni Dev. Ltd.,SECOND LEASING PRIVATE LIMITED,BUY,152774,61.46,-
25-MAR-2010,FSL,Firstsource Solutions Lim,JM FINANCIAL SERVICES PRIVATE LIMITED,BUY,921500,28.99,-
25-MAR-2010,INDIACEM,The India Cements Limited,SBI MUTUAL FUND,BUY,1735000,135.93,-
25-MAR-2010,JYOTISTRUC,Jyoti Structures Ltd,VALECHA INFRASTRUCTURE LTD,BUY,781400,172.00,-
25-MAR-2010,MCLEODRUSS,Mcleod Russel India Limit,KALPTARU INVESTMENTS PRIVATE LIMITED,BUY,661884,271.51,-
25-MAR-2010,MSKPROJ,MSK Projects (India) Limi,CLASSIC INNS PRIVATE LTD,BUY,984534,143.75,-
25-MAR-2010,NELCO,Nelco Ltd.,MANSUKH SECURITIES & FINANCE LIMITED,BUY,125041,132.29,-
25-MAR-2010,NELCO,Nelco Ltd.,YES INVESTMENTS VISHAL KISHORE BHATIA,BUY,124439,130.17,-
25-MAR-2010,NOVOPANIND,Novopan Industries Ltd,ZINGER INVESTMENTS PRIVATE LIMITED,BUY,1000000,38.00,-
25-MAR-2010,PIRLIFE,Piramal Life Sciences Lim,BP FINTRADE PRIVATE LIMITED,BUY,157047,146.16,-
25-MAR-2010,PIRLIFE,Piramal Life Sciences Lim,JMP SECURITIES PVT LTD,BUY,680222,147.13,-
25-MAR-2010,PIRLIFE,Piramal Life Sciences Lim,OM INVESTMENTS,BUY,140154,143.85,-
25-MAR-2010,PIRLIFE,Piramal Life Sciences Lim,RAJEEV KUMAR AGARWAL,BUY,100000,146.34,-
25-MAR-2010,PTL,PTL Enterprises Limited,AMAZER INVESTMENT & FINANCE,BUY,538500,18.67,-
25-MAR-2010,RUCHISOYA,Ruchi Soya Inds Ltd.,WELSPUN TRADING LTD,BUY,2975000,97.00,-
25-MAR-2010,SHYAMTEL,Shyam Telecom Limited,AJAY ASSET MANAGEMENT PRIVATE LIMITED,BUY,40617,81.53,-
25-MAR-2010,SITASHREE,Sita Shree Food Products,PATEL PRAGNESH JAGDISHBHAI,BUY,352946,11.14,-
25-MAR-2010,SURYAPHARM,Surya Pharmaceutical Limi,OM INVESTMENTS,BUY,110182,182.30,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,ABHISHEK SHARAN,BUY,144175,138.46,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,145489,139.54,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,AIRAN FINSTOCKS PRIVATE LIMITED,BUY,291973,137.02,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,AMRAPALI CAPITAL AND FINANCE SERVICES LTD.,BUY,451767,144.10,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,BP FINTRADE PRIVATE LIMITED,BUY,240135,142.91,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,120483,138.20,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,CPR CAPITAL SERVICES LTD.,BUY,106208,143.99,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,DINESH MUNJAL(HUF),BUY,153117,140.59,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,G RAMAKRISHNA,BUY,178000,138.95,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,751462,141.60,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,INDRESH VAGHJIBHAI SHAH,BUY,95054,143.30,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,LUMINOUS IMPEX PRIVATE LIMITED,BUY,183094,136.22,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,331126,140.63,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,128214,141.52,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,OM INVESTMENTS,BUY,111466,141.92,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,R APPALA RAJU,BUY,230000,140.79,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,R.M. SHARE TRADING PVT LTD,BUY,205911,140.55,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,RAVINDER REDDY NANDI,BUY,150000,139.75,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,291173,139.71,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,VAIBHAV DOSHI,BUY,137323,141.83,-
25-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SUNEET LAL,BUY,82782,105.04,-
25-MAR-2010,VALECHAENG,Valecha Engineering Limit,AASHKA CONSTRUCTION PVT LTD,BUY,150000,124.35,-
25-MAR-2010,WANBURY,Wanbury Limited,RAMAN KUMAR GULATI,BUY,102852,81.71,-
25-MAR-2010,AJANTPHARM,Ajanta Pharma Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,83016,193.54,-
25-MAR-2010,CRANESSOFT,Cranes Software Internati,K AND J HOLDINGS PVT LIMITED,SELL,736500,16.39,-
25-MAR-2010,DSKULKARNI,DS Kulkarni Dev. Ltd.,AKCAPITAL SERVICES LTD,SELL,152774,61.45,-
25-MAR-2010,FSL,Firstsource Solutions Lim,JM FINANCIAL SERVICES PRIVATE LIMITED,SELL,2280000,28.88,-
25-MAR-2010,IFCI,IFCI Ltd.,MELLON CAPITAL MANAGEMENT CORPORATION A/C WISDOMTREE INDIA ,SELL,4626045,49.66,-
25-MAR-2010,JYOTISTRUC,Jyoti Structures Ltd,VALECHA INVESTMENT PVT LTD.,SELL,781400,172.00,-
25-MAR-2010,KARURVYSYA,Karur Vysya Bank Ltd,BRP STOCK BROKING SERVICES LIMITED,SELL,300000,448.92,-
25-MAR-2010,MCLEODRUSS,Mcleod Russel India Limit,KALPTARU INVESTMENTS PRIVATE LIMITED,SELL,539858,290.28,-
25-MAR-2010,MSKPROJ,MSK Projects (India) Limi,MYRAJ CONSULTANCY LIMITED,SELL,984534,143.75,-
25-MAR-2010,NELCO,Nelco Ltd.,MANSUKH SECURITIES & FINANCE LIMITED,SELL,130041,132.88,-
25-MAR-2010,NELCO,Nelco Ltd.,YES INVESTMENTS VISHAL KISHORE BHATIA,SELL,124439,132.55,-
25-MAR-2010,NOVOPANIND,Novopan Industries Ltd,CASPIAN CAPITAL & FINANCE LTD,SELL,1000000,38.00,-
25-MAR-2010,PIRLIFE,Piramal Life Sciences Lim,BP FINTRADE PRIVATE LIMITED,SELL,157047,146.49,-
25-MAR-2010,PIRLIFE,Piramal Life Sciences Lim,JMP SECURITIES PVT LTD,SELL,667280,146.40,-
25-MAR-2010,PIRLIFE,Piramal Life Sciences Lim,OM INVESTMENTS,SELL,140158,144.01,-
25-MAR-2010,PIRLIFE,Piramal Life Sciences Lim,RAJEEV KUMAR AGARWAL,SELL,145000,145.37,-
25-MAR-2010,PTL,PTL Enterprises Limited,POORAK CONSULTANCY SERVICES PVT LTD,SELL,452327,18.67,-
25-MAR-2010,RUCHISOYA,Ruchi Soya Inds Ltd.,PACIFIC CORPORATE SERVICES LTD,SELL,2963627,97.00,-
25-MAR-2010,RUCHISOYA,Ruchi Soya Inds Ltd.,WELSPUN TRADING LTD,SELL,25000,96.80,-
25-MAR-2010,SHYAMTEL,Shyam Telecom Limited,AJAY ASSET MANAGEMENT PRIVATE LIMITED,SELL,60617,81.25,-
25-MAR-2010,SITASHREE,Sita Shree Food Products,PATEL PRAGNESH JAGDISHBHAI,SELL,115025,11.46,-
25-MAR-2010,SURYAPHARM,Surya Pharmaceutical Limi,OM INVESTMENTS,SELL,110182,182.41,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,ABHISHEK SHARAN,SELL,144175,138.88,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,145489,140.04,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,AIRAN FINSTOCKS PRIVATE LIMITED,SELL,291973,141.17,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,AMRAPALI CAPITAL AND FINANCE SERVICES LTD.,SELL,151767,137.24,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,BP FINTRADE PRIVATE LIMITED,SELL,240135,142.72,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,SELL,120483,138.40,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,CPR CAPITAL SERVICES LTD.,SELL,106208,144.05,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,DINESH MUNJAL(HUF),SELL,153117,140.42,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,G RAMAKRISHNA,SELL,178000,138.83,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,751462,141.72,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,INDRESH VAGHJIBHAI SHAH,SELL,95054,147.19,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,LUMINOUS IMPEX PRIVATE LIMITED,SELL,183094,140.11,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,331126,140.71,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,131805,137.75,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,OM INVESTMENTS,SELL,111466,141.95,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,R APPALA RAJU,SELL,230000,139.44,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,R.M. SHARE TRADING PVT LTD,SELL,205911,140.70,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,RAVINDER REDDY NANDI,SELL,141876,141.63,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,291173,139.99,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,VAIBHAV DOSHI,SELL,137323,143.02,-
25-MAR-2010,SYNCOM,Syncom Healthcare Ltd,VICKY R. JHAVERI,SELL,110000,145.95,-
25-MAR-2010,TATAMOTORS,Tata Motors Limited,CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL CODE,SELL,2522770,724.85,-
25-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SUNEET LAL,SELL,82782,105.21,-
25-MAR-2010,TIDEWATER,Tide Water Oil Co. (India,MADANLAL LIMITED,SELL,13500,4900.12,-
25-MAR-2010,WANBURY,Wanbury Limited,RAMAN KUMAR GULATI,SELL,71564,81.64,-
Market positive on March F&O expiry
Today's major news
Zain's board approves Bharti Airtel deal; the stock rises by 2.27%
Axis Bank may acquire 5% in Max New York Life; the stock closes lower by 0.54%
Food inflation dips to 16.22%
Click here for more stories
Post-market summary
Global signals
European stocks rose to 17-month high on Thursday ahead of key European Union meeting to help Greece, while plans by Dubai to support its debt-laden firms provided relief. At the time of writing this report, FTSE 100 was up by 0.38%.
All the major Asian indices closed higher except Shanghai Composite and Hang Seng that closed lower by over 1% each. SGX Nifty closed 34 points higher.
US stock futures opened marginally higher as investors keep an eye on European Union Summit to aid Greece.
Indian indices
Muted global markets, Fitch Ratings downgrading Portugal's sovereign outlook and expiry of March F&O contracts set the pitch for an unappetizing start. The Sensex opened merely 7 points higher and soon turned negative and lingered in red for most part of the day to touch the day’s low — 68 points lower. However, positive opening in European markets ahead of crucial European Union meeting to help Greece and buying in the Sensex heavyweight Larsen & Toubro and Infosys and capital goods and health care stocks helped the index to turn positive and touch the day’s high of 17575 —134 points higher. The market remained volatile on the eve of expiry to swing 192 points during the session. At closing bell, the Sensex was at 17451, 108 points higher over its yesterday’s close. The Nifty closed 35 points higher at 5260.
Market sentiment
The market breadth was negative as declining stocks (53%) outdid advancing stocks (45%). The remaining 2% traded unchanged. Of the 2,918 stocks traded on the BSE, 1,532 stocks declined, whereas 1,314 stocks advanced. Seventy-two stocks closed unchanged.
Sectoral & stock screening
Public sector unit (PSU) stocks were the worst performers — down by 0.82%. Consumer durable and oil & gas were the other two counters that posted losses. The remaining 10 sectors were up, with capital goods index up by 1.09% — the most for any sector —to be followed by healthcare counter that advanced 0.94%.
On stocks’ front, Gujarat NRE Coke was the star stock of the day, up by 5.68%, followed by Reliance Power that was up by 4.49% and Hero Honda Motors that rose by 4.39%. On losers’ list, NMDC was down by 6.87%, followed by Sterling Biotech that fell 4.49% and Syndicate Bank that shed 3.09%.
Viewing volumes
Industrial finance company IFCI was the most actively traded share with over 0.35 crore shares changing hands on the BSE followed by top gainer of ‘A’ group Gujarat NRE Coke (0.31 crore shares), India’s second largest realty company Unitech (0.31 crore shares), NMDC (0.26 crore shares) and wind turbine maker Suzlon Energy (0.23 crore shares).
Capital goods, banking stocks lead rally
The key benchmark indices reversed intraday losses and surged to fresh intraday highs in late trade tracking higher European stocks and gains in US index futures. Stocks rose for the second straight day. The BSE 30-share Sensex rose 107.83 points or 0.62%, up close to 175 points from the day's low and off close to 15 points from the day's high. Foreign funds today bought equities worth a net Rs 653.22 crore, provisional data released by the stock exchanges showed.
Index heavyweight Reliance Industries (RIL) reversed early losses. Banking, capital goods, FMCG and realty stocks rose. Some side counters surged even as the market breadth, indicting overall health of the market, was negative.
NSE's volatility index -- India VIX -- dropped, extending Tuesday's steep slide. The index lost 5.96% to 17.05. It had tumbled 9.17% on Tuesday. 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.
The market recovered from lower level in early trade. However, the intraday recovery proved short-lived. The market weakened once again in morning trade. The Sensex hit fresh day's low in mid-morning trade. It recovered from lower level later. The market once again came off the day's high later. It trimmed losses in mid-afternoon trade. The market surged in late trade 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 derivatives contracts. The near-month March 2010 derivatives contracts expired today.
Rollover in Nifty futures was 52% at the end of Tuesday's (23 March 2010)'s trade. Rollover in Mini Nifty futures was 44% while the market wide Rollover was 55%. Rollover was low in REC, Union Bank of India, GAIL India, Hindalco and Welspun Gujarat Stahl Rohren, till Tuesday. The stock market was closed on Wednesday, 24 March 2010, for a public holiday.
In global news, credit rating agency Fitch on Wednesday lowered Portugal's sovereign credit rating, citing its growing budget deficit and debt load. Meanwhile, European Union (EU) leaders are meeting today in Brussels to resolve Greece's debt crisis. However, fears that EU members may fail to agree to an aid package for Greece pushed the euro to a fresh 10-month low against the dollar in Asia Thursday. The EU summit ends on Friday, 26 March 2010. People's Bank of China Vice Governor Zhu Min on Thursday said Greece's debt crisis is just the tip of the iceberg.
Meanwhile, the Dubai's government said Thursday it will commit $9.5 billion in new funding to help conglomerate Dubai World restructure its debt. Dubai World, which has interests in transport and logistics, ports, real estate and financial services, has been trying to restructure $23.5 billion in debt.
Closer home, the government today said that the food price index rose 16.22% in the year to 13 March 2010. The rise in the food price index was lower than an annual rise of 16.30% in the previous week. The fuel price index rose 12.68% and primary articles index jumped 13.88% in the year to 13 March 2010. The wholesale price inflation (WPI) jumped 9.89% in February 2010 and Finance Minister Pranab Mukherjee and other policymakers have said it could hit double digits in March 2010.
The demand-side pressure on the economy can build up further and it would be better to take some action now, Reserve Bank of India (RBI) governor D Subbarao said on Wednesday. The RBI, citing intensifying inflationary pressures and a steady economic recovery, caught investors off guard with a 25 basis point tightening in short term lending rates late on Friday 19 March 2010, after local markets had closed.
Prime Minister Manmohan Singh on Tuesday, 23 March 2010, said India could return to 9% growth trajectory by 2011-12, but cautioned that uncertain global environment could still play spoilsport. He said demand creation by expanding investment in infrastructure should act as a counterweight to any weakness in export sector.
The Planning Commission has suggested course correction in various policy measures related to social, agriculture and infrastructure sectors to put the economy back on high growth trajectory, while lowering the growth target for the five years to 2012.
The Planning Commission in its mid-term appraisal (MTA) of the Eleventh Five Year Plan (2007-12) has scaled down the GDP growth target for the period to 8.1% from earlier projection of 9%.The MTA, which was cleared by the full Planning Commission on Tuesday, said the path of fiscal correction is crucial for macro-economic credibility and larger private investment. The MTA document will now be placed before the Cabinet and thereafter before the National Development Council (NDC) for final approval.
India must raise prices of fuel, fertiliser and food sold under welfare schemes to keep its subsidy bill at targeted levels, the deputy chairman of the Planning Commission, Montek Singh Ahluwalia, said on Tuesday. The government has said it would trim subsidies as part of measures to cut its large fiscal deficit.
The economy is expected to grow at 8.5% in this quarter, Kaushik Basu, chief economic adviser in the finance ministry 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 equities over the past few days. 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 12125.81 crore this month, till 25 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. Global credit rating agency Standard & Poor's, last week, revised the outlook on India to stable from negative due to improved government finances.
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 shares rose on Thursday, ahead of a European Union meeting to help heavily indebted Greece as investors focus on sovereign debt concerns. Oil majors gained as commodity prices eased off lows. The key benchmark indices in France, Germany and UK rose by between 0.45% to 0.8%.
Asian stock markets were mixed on Thursday, after US stocks slipped on Wednesday following large gains in recent days. The key benchmark indices in China and Hong Kong fell by between 1.15% to 1.23%. But, the key benchmark indices in Indonesia, Japan, Taiwan, Singapore and South Korea rose by between 0.07% to 0.46%.
Trading in US index futures indicated that the Dow could rise 32 points at opening on Thursday, 25 March 2010.
US stocks snapped a two-day winning streak on Wednesday, 24 March 2010 after Fitch cut its rating on Portugal by one notch and warned that another downgrade could be on the way. The Dow Jones fell 52.68 points or 0.48% to 10,836.15. The Nasdaq declined 16.48 points or 0.68% to 2,398.76 and the S&P 500 fell 6.45 points or 0.55% to 1,167.72.
In economic news, new-home sales fell around 2% to 308,000, the lowest on record, in February. Mortgage applications fell for a second straight week last week as interest rates crept higher. Orders for durable goods rose 0.5% in February as inventories increased by the most since December 2008.
With unemployment high and inflation low, the Federal Reserve is in no hurry to raise interest rates, two Federal Reserve officials suggested on Tuesday.
US Federal Reserve Vice Chairman Donald Kohn said on Wednesday that top policy makers had been "a little complacent" about complex financial instruments that contributed to the global financial crisis.
Close home, the BSE 30-share Sensex rose 107.83 points or 0.62% to 17568.85. The Sensex rose 124.21 points at the day's high of 17,575.23 in late trade. The barometer fell 67.81 points at the day's low of 17,383.21 in mid-morning trade.
The S&P CNX Nifty rose 35.10 points or 0.67% to 5260.40.
The BSE Mid-Cap index rose 0.12%. The BSE Small-Cap index fell 0.21%. Both these indices underperformed the Sensex.
The BSE Capital Goods index (up 1.09%), the BSE HealthCare index (up 0.94%), the BSE Bankex (up 0.9%), the BSE Teck index (up 0.84%), the BSE Realty index (up 0.8%), the BSE FMCG index (up 0.75%), the BSE IT index (up 0.74%), the BSE Metal index (up 0.66%), outperformed the Sensex.
The BSE PSU index (down 0.82%), the BSE Consumer Durables index (down 0.25%), the BSE Oil & Gas index (down 0.12%), the BSE Power index (up 0.22%), the BSE Auto index (up 0.46%), underperformed the Sensex.
The market breadth, indicating overall health of the market, turned negative compared to positive breadth earlier in the day. On BSE, 1311 shares advanced as compared with 1535 that declined. A total of 76 shares remained unchanged.
From the 30 Sensex shares, 18 stocks rose and the rest fell.
BSE clocked a turnover of Rs 4433 crore, higher than Rs 4208.84 crore on Tuesday, 23 March 2010.
Index heavyweight Reliance Industries (RIL) rose 0.22%, reversing early losses 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.
India's largest mobile services provider by sales Bharti Airtel rose 2.27% after Kuwait-based Zain Telecom's board on Wednesday cleared Bharti Airtel's proposal to buy its African assets for $10.7 billion (around Rs 48,600 crore), marking the Indian company's first successful attempt to acquire operations in Africa after two failures. Bharti had expressed its interest in Zain in the second week of February and the deadline for exclusive talks was to lapse today.
FMCG stocks rose on government's thrust on the rural sector and social schemes in the Budget. Hindustan Unilever rose 1.69%, extending recent gains. 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.
Among other FMCG stocks, United Breweries, Nestle India, Dabur India, ITC, Marico, Godrej Consumer products rose by between 0.22% to 1.68%.
IT stocks rose for the second straight day as the passage of the US healthcare reforms Bill, which proposes to create Electronic Health Records (EHRs) for all Americans by 2014, is expected to open up a $20 billion market opportunity for Indian IT services firms.
India's largest software services exporter by sales Tata Consultancy Services (TCS) rose 0.11%, extending gains for the third straight day. The company said recently it signed a five year contract with Malaysia Airlines for providing end-to-end information technology infrastructure services. Meanwhile, TCS has paid Rs 178 crore in advance tax compared with Rs 53 crore a year earlier.
India's second largest software services exporter by sales Infosys rose 1.09%, extending gains for the second straight day. The stock hit a high of Rs Rs 2,821.40 in intraday trade which is a record high for the counter. Its ADR fell 1.44% on Wednesday. Infosys' fourth quarter advance tax payment doubled. India's third largest software services exporter by sales Wipro fell 0.08%. Its ADR fell 2.37% on Wednesday.
Rate sensitive realty shares rose on bargain hunting after recent losses triggered by a rate hike by the central bank late last week. HDIL, DLF, Omaxe, Unitech, Phoenix Mills, Anant Raj Industries rose by between 0.21% to 5.44%.
But, Indiabulls Real Estate dropped 0.45%, after the company said promoters have pledged more than 3.56 crore shares representing 8.87% of the equity capital of the company.
The Union budget last month proposed to impose service tax on the realty sector both on commercial rentals as well as on sale of under-construction housing units. The service tax would come to be about 3.5% of the cost of the apartment that includes the value of the land and also the cost of construction, realty body Credai said recently.
India's largest engineering & construction firm by sales Larsen & Toubro (L&T) rose 1.78% after the company said it has got orders worth Rs 1181 crore for power transmission and distribution projects. The company said on Tuesday, 23 March 2010 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.
Among other capital goods stocks, Bharat Heavy Electricals, Praj Industries, Siemens rose by between 1.02% to 2.79%.
Rate sensitive banking stocks rose on bargain hunting after recent triggered by fears higher interest rates may hamper lending growth. India's largest private sector bank by net profit ICICI Bank rose 0.47%. Its ADR fell 1.38% on Wednesday. The bank's Q3 advance tax payment surged to Rs 350 crore versus Rs 250 crore a year ago.
India's largest private sector bank by net profit HDFC Bank rose 2.8% gaining for the straight third day. It hits all time high of Rs 1930 today. Its ADR fell 1.37% on Wednesday. India's largest bank by net profit and branch network State Bank of India (SBI) rose 0.16%.
Rate sensitive auto stocks were mixed. India's largest commercial vehicle maker by sales Tata Motors fell 1.87%, extending losses for the second straight day 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 on Tuesday. 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) rose 0.57% on bargain hunting after recent sharp losses. The company paid Rs 235 crore in advance tax in Q4 March 2010 versus nil payment a year earlier.
India's largest car maker by sales Maruti Suzuki India fell 1.47%, extending recent slide triggered by fears increase in competition may dent sales. Recently, Ford India entered the small car market with 'Figo'.
Bajaj Auto rose 1.59%. The company said today it is targeting sales of 40 lakh vehicles in the year ending March 2011. The company sold 25.78 lakh vehicles in the first eleven months of the current fiscal year ending March 2010.
India's largest bike maker by sales Hero Honda Motors rose 4.39% after the company said a meeting of company's board of directors will be held on 30 March 2010 to consider the declaration of special interim dividend. The stock hit a high of Rs 2,050 in intraday trade which is a record high for the counter.
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.
Some 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, Dr Reddy's Laboratories, Ipca Laboratories, Cipla, Divi's Laboratories, Sun Pharmaceutical Industries, Pfizer rose by between 0.43% to 3.32%.
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
Infrastructure stocks fell on profit taking after recent gains. Prime minister Manmohan Singh said India needs to double its infrastructure spending to $1 trillion in the five years to 2016/17. The Finance Minister has provided Rs 1.73 lakh crore for infrastructure development in 2010-2011, which accounts for over 46% of the total plan expenditure for the year. IVRCL Infrastructure & Projects, Nagarjuna Construction Company, Hindustan Construction Company fell by between 1.37% to 2.54%.
Metal stocks rose on strong domestic demand. JSW Steel, Jai Corp, NMDC, Hindustan Zinc, Guj NRE Coke, Sesa Goa, Steel Authority of India, Hindalco Industries rose by between 0.03% to 5.68%.
India's largest copper maker by sales Sterlite Industries rose 0.46%. 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.
India's largest steel maker by sales Tata Steel fell 0.23%. Its Q4 advance tax payment rose to Rs 513 crore from Rs 406 crore a year earlier.
National Aluminium Company fell 0.61%. The Union Minister for Mines has ruled out any possibility of disinvestment in the state-run aluminium firm.
Cals Refineries clocked the highest volume of 2.62 crore shares on BSE. Syncom Healthcare (1.07 crore shares), Birla Power Solutions (0.98 crore shares), Lloyd Steel Industries (0.67 crore shares) and Krishna Lifestyle (0.55 crore shares) were the other volume toppers in that order.
Syncom Healthcare clocked the highest turnover of Rs 156.61 crore on BSE. ARSS Infra (Rs 103.95 crore), Jubilant Food Organosys (Rs 87.62 crore), NMDC (Rs 81.85 crore) and Tata Motors (Rs 69.8 crore) were the other turnover toppers in that order.
Daily Grey Market Premiums - March 25 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) | Kostak (Rs. 1 Lac Application) |
| DQ Entertainment (Inter.) | 80 | 48 to 50 | -- |
| Pradip Overseas | 100 to 110 | 15 to 16 | -- |
| ILFS Transportation | 242 to 258 | 32 to 34 | -- |
| Persistent Sys. | 290 to 310 | 132 to 135 (Buyer) | -- |
| Shree Ganesh Jewellery | 260 to 270 | 10 to 12 | -- |
| Infrasoft Technology | 137 to 145 | 58 to 60 | 1700 to 1900 |
| Goenka Diamond & Jewellery | 135 to 145 | 8 to 9 (Seller) | 2000 to 2100 |
Flat start likely; March F&O expiry eyed
Headlines for the day:
Zain okays Bharti bid
RBI hints at further rate rise
Bosch settles wage talks at Bangalore plant
Events for the day:
Major corporate action
F&O expiry for the month of March
Weekly inflation to be announced today
For more events, log on to Sharekhan.com
Results: Henkel India, Kesar Petro, and Wyeth
Pre-market report
Global signals
On Wednesday, March 24, 2010, the European stocks ended flat, with Shire stock leading pharmaceuticals up as it gained from a competitor's problems, and as the market shrugged off a Fitch downgrade of Portugal's sovereign debt.
The US markets closed lower on Wednesday, as Portugal's credit rating downgrade and a weak Treasury note auction stirred concerns about sovereign debt.
In today's trade, the Asian indices are trading mix. At the time of writing this report, SGX Nifty was trading 20.50 point lower.
Indian markets
As the Fitch downgrade of Portugal's sovereign debt hit major of the global indices, the domestic markets are expected to open flat on the back of mixed signals from the global markets. Owing to the March month's F&O expiry ahead today, the markets are expected to be volatile.
Commodity cues
In the commodity space, the Crude oil prices reported loss, with the Nymex light crude oil for the April series down by $14.90 per barrel, whereas in the metals space, the Comex Gold for the April series declined by $0.38 and the Comex Silver for the May series was down by $1.30 to a troy ounce respectively.
Daily trend of FII/MF investment in equities
On March 23, 2010, FIIs were the net buyers of the Indian stocks to the tune of Rs270.50 crore, whereas the domestic mutual funds, on March 22, 2010, were the net sellers of the stocks to the tune of Rs359.50 crore.
Daily News Roundup - March 25 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)
Problematic start on F&O day
It is so much easier to suggest solutions when you don't know too much about the problem – Malcolm Forbes.
As if the Greece issue wasn’t enough, the markets now have to worry about deteriorating fiscal health of other places of historical interest. Fitch has lowered Portugal's sovereign credit rating, citing its growing budget deficit and debt load. The euro fell to new record low versus Swiss franc and fresh 10-month trough against the US dollar.
Increasing worries about the European sovereign debt situation curbed risk appetite even as suspense continues on Greece getting aid from the EU. The commodity complex was down due to a stronger dollar. Markets in Europe came off session highs to end mostly flat while US stocks finished lower. In Asia, markets in Japan and Korea are slightly in the green while the rest are in the red.
We expect a shaky start given the weak global cues. Trading will be volatile and rangebound owing to the F&O expiry. Near-term uncertainties, especially on the external front, could continue to act as a dampener though the overall bias remains positive for India. The Nifty will trade between 5200 and 5300. Bharti will be in focus as Zain board has cleared the multi-billion dollar deal.
FIIs were net buyers in the cash segment on Tuesday at Rs3.59bn on a provisional basis. Local funds were net sellers of Rs733.9mn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers of Rs3.91bn. On Monday, FIIs were net buyers of Rs2.7bn in the cash segment, as per the SEBI web site. Mutual Funds were net sellers of Rs3.59bn on the same day.
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.
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.
Bullion metals turn pale again
Prices end lower as dollar spikes to ten month high against euro
Precious metal prices ended lower on Wednesday, 24 March 2010. Prices slipped as the dollar headed up strongly to its highest level in ten months following the resurface of Greece and Portugal's fiscal problems pressuring the euro.
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 $1,088.8 an ounce, lower by $14.9 (1.4%) an ounce on the New York Mercantile Exchange. For most part of the day, gold remained a little below $1,100 due to strong demand. Last week, gold gained 0.5%. In FY 2010, gold touched a high of $1,154 in January.
On Wednesday, May Comex silver futures ended lower by 38 cents (2.3%) at $16.64 an ounce. Last week, silver ended almost unchanged against last Friday's closing of $17.04.
In the currency market on Wednesday, the dollar index, which measures the strength of the dollar against basket of six other currencies rose by 1.2% earlier in the day and settled for a 0.8% gain.
Portugal became the latest source of concern out of the European Union joining Greece in its fiscal problems. On Wednesday, Fitch Ratings downgraded Portugal one notch to AA- on concerns about its budget, and warned further cuts could happen.
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 May delivery closed lower by Rs 150 (0.91%) at Rs 16,295 per ten grams. Prices rose to a high of Rs 16,461 per 10 grams and fell to a low of Rs 16,275 per 10 grams during the day's trading.
At the MCX, silver prices for May delivery closed Rs 386 (1.45%) lower at Rs 26,230/Kg. Prices opened at Rs 26,563/kg and fell to a low of Rs 26,194/Kg during the day's trading.
Market may remain volatile ahead of F&O expiry; food inflation data eyed
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 near-month March 2010 derivatives contracts today, 25 March 2010. Asian stocks were trading mixed today after Wall street closed in the red on Wednesday, 24 March 2010.
The government will unveil data on some wholesale price indices for the year through 12 March 2010 viz. the food price index, the primary articles index and the fuel price index at about 12:00 IST.
The stock market remained close on Wednesday, 24 March 2010, on account of Ram Navmi.
The demand-side pressure on the economy can build up further and it would be better to take some action now, Reserve Bank governor Duvvuri Subbarao said on Wednesday. The Reserve Bank of India, citing intensifying inflationary pressures and a steady economic recovery, caught investors offguard with a 25 basis point tightening in shorterm lending rates late on Friday 19 March 2010, after local markets had closed.
Prime Minister Manmohan Singh said India could return to 9% growth trajectory by 2011-12, but cautioned that uncertain global environment could still play spoilsport. He said demand creation by expanding investment in infrastructure should act as a counterweight to any weakness in export sector.
The Planning Commission has suggested course correction in various policy measures related to social, agriculture and infrastructure sectors to put the economy back on high growth trajectory, while lowering the growth target for the five years to 2012.
The Planning Commission in its mid-term appraisal (MTA) of the Eleventh Five Year Plan (2007-12) has scaled down the GDP growth target for the period to 8.1% from earlier projection of 9%.The MTA, which was cleared by the full Planning Commission on Tuesday, said the path of fiscal correction is crucial for macro-economic credibility and larger private investment. The MTA document will now be placed before the Cabinet and thereafter before the National Development Council (NDC) for final approval.
India must raise prices of fuel, fertiliser and food sold under welfare schemes to keep its subsidy bill at targeted levels, the deputy chairman of the Planning Commission, Montek Singh Ahluwalia, said on Tuesday. The government has said it would trim subsidies as part of measures to cut its large fiscal deficit.
The economy is expected to grow at 8.5% in this quarter, Kaushik Basu, chief economic adviser in the finance ministrysaid on Wednesday.
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.
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.
In stock specific news, Kuwait-based Zain Telecom's board cleared Bharti Airtel's proposal to buy its African assets for $10.7 billion (around Rs 48,600 crore), marking the Indian company's first successful attempt to acquire operations in Africa after two failures.Bharti had expressed its interest in Zain in the second week of February and the deadline for exclusive talks was to lapse today.
Asian stock markets were mixed on Thursday, after the Dow Jones industrials slipped following large gains in recent days. The key benchmark indices in China, Hong Kong, Singapore and Taiwan fell by between 0.23% to 1.41%. But, the key benchmark indices in Indonesia, Japan and South Korea rose by between 0.09% to 0.58%.
The US stocks snapped a two-day winning streak on Wednesday, 24 March 2010 after Fitch cut its rating on Portugal by one notch and warned that another downgrade could be on the way. The Dow Jones fell 52.68 points or 0.48% to 10,836.15. The Nasdaq declined 16.48 points or 0.68% to 2,398.76 and the S&P 500 fell 6.45 points or 0.55% to 1,167.72.
In economic news, new-home sales fell around 2% to 308,000, the lowest on record, in February. Mortgage applications fell for a second straight week last week as interest rates crept higher. Orders for durable goods rose 0.5% in February as inventories increased by the most since December 2008.
With unemployment high and inflation low, the Federal Reserve is in no hurry to raise interest rates, two Federal Reserve officials suggested on Tuesday.
European Union leaders hold what is likely to be a tense and difficult summit on Thursday, divided over how to help heavily indebted Greece and struggling to maintain confidence in the euro.
Close home, the key benchmark indices swayed between gains and losses on Tuesday, 23 March 2010 ahead of the derivatives expiry later this week. The BSE 30-share Sensex rose 40.45 points or 0.23% to 17,451.02 on that day.
As per provisional figures on NSE, foreign funds bought shares worth Rs 359.75 crore and domestic funds sold shares worth Rs 73.39 crore on Tuesday.
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