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Wednesday, April 07, 2010
Daily Market - Apr 7 2010
Markets consolidated for yet another day as the benchmark indices closed marginally in the green after a choppy trade. Sensex crossed the 18000 mark for the first time after 27th Feb, 2008 but finally settled at 17970, gaining 28 points while Nifty finished at 5374, up 8 points. Broader markets continued to outperform with BSE Mid-cap and Small-cap indices gained 0.5% and 0.7% respectively. European markets were trading marginally in the red as concerns over Greece’s finances resurfaced as the troubled nation seek to amend a safety net from the European Union and IMF. US stock indices futures too were down about a fourth of a percent.
Auto and Oil & Gas indices were the top gainers among the sectoral indices, putting on 1.1% and 0.8% respectively while Bankex and Metal index were down the most, shedding 0.4% and 0.1% respectively. Idea surged 5.1%, becoming the top gainer among the Nifty stocks, followed by Powergrid, up 3.4%. PNB and HUL were the top losers, down 1.9% each. BSE advance-decline ratio stood at 1.4:1
Market scouts for triggers; flirts with 18K
Today's major news
Shree Ashtavinayak in limelight on a buy-back plan; the stock jumped 2.11%
BGR Energy secures contract worth Rs99.41 crore; the stock closed lower by 1.14%
Punj Lloyd wins Rs232-crore contract; the stock ends the day 0.58% lower
Click here for more stories
Global signals
European markets were quoting flat ahead of key Euro zone gross domestic product (GDP) data. As of writing, FTSE 100 (UK) was trading 0.06% lower.
All the major Asian indices closed positive except Shanghai Composite that fell marginally. SGX Nifty closed 9 points higher.
US stock futures point to a negative start for the Wall Street as Greece debt crises come to haunt again.
Indian indices
The domestic market continued to be northbound on strong Asian markets combined with buying in automobile stocks.
Sensex started off 25 points lower (at 17915) but few minutes into the trade turned positive and whipsawed range-bound in the first half. In the second half, it inched towards 18000 levels and breached the level first time since February 27, 2008 to touch the day's high of 18048. However soon it pared the early gains to touch the day's low of 17878 before closing at 17970, mere 28 points higher. Nifty missed the 5400 mark by a whisker and wrapped at 5375, nine points down.
Market sentiment
Advancing shares outnumber trailed ones by 1.3. Of the 2,972 stocks traded on the BSE, 1,669 stocks advanced, whereas 1,216 stocks declined. Eighty seven stocks traded unchanged.
Sectoral & stock screening
Most of the counters did not see much change-either up or down by 1%. Automobile was the only exception up by 1.10%. Banking and metal counters occupied the bottom slots.
The top-3 stocks were -Central Bank of India that was up 7.39%, Indiabulls Financials, which ended 6.95% higher and Idea Cellular that was 5.33% up. Of the stocks that were hit the worst were Jain Irrigation that was down 3.30%, Hindustan Unilever that fell 2.07% and Punjab National Bank that shed 1.91%.
Viewing volumes
Steel maker Ispat Industries was the most actively traded share for the third day in a row with over 0.71 crore shares changing hands on the BSE, followed by wind turbine maker Suzlon Energy (0.44 crore shares), Reliance group's Reliance Natural Resources (0.36 crore shares), India's second largest realty major Unitech (0.34 crore shares) and industrial finance company IFCI (0.28 crore shares).
BSE Bulk Deals to Watch - Apr 7 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
7/4/2010 530093 Ace India PATANGI TRADE & HOLDINGS PVT L B 25000 42.30
7/4/2010 530093 Ace India JLB FINVEST PVT LTD B 150000 42.30
7/4/2010 530093 Ace India VEDPRAKASH NARULA S 200000 42.30
7/4/2010 513149 Acrow India JAYPEE CAPITAL SERVICE LTD B 4580 165.70
7/4/2010 513149 Acrow India JAYPEE CAPITAL SERVICE LTD S 4652 163.09
7/4/2010 532335 Ambica Agarb DB (INTL) OWN TRADING B 87551 16.06
7/4/2010 532335 Ambica Agarb DB (INTL) OWN TRADING S 87551 16.04
7/4/2010 532335 Ambica Agarb PRAGNESH JAGDISHBHAI PATEL S 95771 16.07
7/4/2010 590006 Amrutanjan Health OPG SECURITIES P LTD B 19416 1187.02
7/4/2010 590006 Amrutanjan Health OPG SECURITIES P LTD S 19416 1188.16
7/4/2010 533159 AQUA LOGIST OPG SECURITIES P LTD B 180666 291.16
7/4/2010 533159 AQUA LOGIST OPG SECURITIES P LTD S 180666 291.21
7/4/2010 533163 Arss Infra Proj GENUINE STOCK BROKERS PVT. LTD. B 154288 1214.79
7/4/2010 533163 Arss Infra Proj SMART EQUITY BROKERS PRIVATE LIMITED B 205407 1216.71
7/4/2010 533163 Arss Infra Proj OPG SECURITIES P LTD B 274047 1216.38
7/4/2010 533163 Arss Infra Proj GENUINE STOCK BROKERS PVT. LTD. S 154288 1215.83
7/4/2010 533163 Arss Infra Proj SMART EQUITY BROKERS PRIVATE LIMITED S 205407 1217.54
7/4/2010 533163 Arss Infra Proj OPG SECURITIES P LTD S 274047 1217.09
7/4/2010 531591 Bampsl Sec PRAKASHCHAND GUPTA B 1102000 1.55
7/4/2010 531591 Bampsl Sec KAUSHALYA GARG S 1257613 1.55
7/4/2010 531591 Bampsl Sec PRAKASHCHAND GUPTA S 602000 1.55
7/4/2010 517544 Centum Elect SARAH FAISAL HAWA S 40000 102.95
7/4/2010 531337 Channel Guide ANJANA RAMESHCHANDRA BIRLA B 57841 15.12
7/4/2010 531337 Channel Guide DARI TEJAS K S 45361 15.05
7/4/2010 531337 Channel Guide ANJANA RAMESHCHANDRA BIRLA S 42841 15.43
7/4/2010 522163 Diamond Cables CLEARWATER CAPITAL PARTNERS SINGAPORE FUND III PRIVATE LIMITED B 616017 159.95
7/4/2010 522163 Diamond Cables DIAMOND PROJECTS LIMITED S 600000 160.00
7/4/2010 505242 Dynamatic Tech CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED B 127000 1233.02
7/4/2010 505242 Dynamatic Tech SWISS FINANCE CORPORATION (MAURITIUS) LTD S 123607 1234.00
7/4/2010 500132 Empee Sugars SUDHIR KOTHARI SANJU B 500000 35.50
7/4/2010 504351 Empower Inds MANISH SHAHTILAL AJMERA B 50000 4.20
7/4/2010 504351 Empower Inds ANGEL INFIN PRIVATE LIMITED B 99000 4.04
7/4/2010 504351 Empower Inds JMP SECURITIES PVT LTD B 215000 4.06
7/4/2010 504351 Empower Inds BP FINTRADE PRIVATE LIMITED B 50003 4.02
7/4/2010 504351 Empower Inds SHREE TISAI ENTERPRISES S 57138 4.01
7/4/2010 504351 Empower Inds SHASHIKANT RAMGOPAL RATHI S 55464 4.13
7/4/2010 504351 Empower Inds INDU NILKANTH DATE S 250000 4.03
7/4/2010 530945 Gangotri Iron JAGENDRA TRIPATHI B 81281 58.23
7/4/2010 530945 Gangotri Iron AMBAA SECURITIES PRIVATE LIMITED S 41500 57.50
7/4/2010 530945 Gangotri Iron JAGENDRA TRIPATHI S 80032 59.18
7/4/2010 512493 Garnet Intl WELKIN PROJECTS PVT LTD B 23917 116.99
7/4/2010 532318 Gemini Comm SAMPADA CHEMICALS LTD S 500000 29.67
7/4/2010 531904 Globus Corp PRAKASH BI.DHEBAR HUF S 330000 1.33
7/4/2010 532770 Hanung Toys AJMERA SHARES TRADING PRIVATE LIMITED B 173740 235.97
7/4/2010 532770 Hanung Toys AJMERA SHARES TRADING PRIVATE LIMITED S 173740 234.86
7/4/2010 532761 HOV Serv MATRIX EQUITRADE PRIVATE LIMITED LIMITED B 70728 83.15
7/4/2010 532761 HOV Serv MATRIX EQUITRADE PRIVATE LIMITED LIMITED S 70728 83.31
7/4/2010 512185 IOL Netcom EVANS FRASER AND COMPANY (INDIA) LIMITED B 500000 24.42
7/4/2010 512185 IOL Netcom SHREE DHOOT TRADING & AGENCIES LIMITED. S 500000 24.42
7/4/2010 533155 JUBL FOOD SMART EQUITY BROKERS PRIVATE LIMITED B 764575 400.93
7/4/2010 533155 JUBL FOOD OPG SECURITIES P LTD B 699530 402.25
7/4/2010 533155 JUBL FOOD SMART EQUITY BROKERS PRIVATE LIMITED S 764575 401.39
7/4/2010 533155 JUBL FOOD OPG SECURITIES P LTD S 699530 402.66
7/4/2010 590041 Kavveri Telecom PRATIMA M N S 136947 95.10
7/4/2010 530255 KAY Power KAUSHALYA GARG B 179200 16.74
7/4/2010 530255 KAY Power BAMPSL SECURITIES LTD B 195989 16.77
7/4/2010 530255 KAY Power BAMPSL SECURITIES LTD S 173751 16.73
7/4/2010 530255 KAY Power SUNILKUMAR GUPTA S 58500 16.79
7/4/2010 530145 Kisan Mouldings MANSUKH STOCK BROKERS LIMITED B 86005 85.30
7/4/2010 530145 Kisan Mouldings RAHUL DOSHI B 70000 88.93
7/4/2010 530145 Kisan Mouldings NARESHCHAND JAIN B 56093 86.41
7/4/2010 530145 Kisan Mouldings MANSUKH STOCK BROKERS LIMITED S 86005 85.36
7/4/2010 530145 Kisan Mouldings RAHUL DOSHI S 40001 86.90
7/4/2010 530145 Kisan Mouldings NARESHCHAND JAIN S 62093 86.60
7/4/2010 524522 Laffans Petro ANJANEYAASWATHANARAYANA SETTYGOTAPARTHI S 40000 33.22
7/4/2010 509011 Livingroom Life SARITA DEVI MALL B 10000 33.00
7/4/2010 509011 Livingroom Life ASHOK KUMARMOHANLAL RAWAL B 10000 33.06
7/4/2010 509011 Livingroom Life SHAILESHLALMANO JHA B 10000 33.60
7/4/2010 509011 Livingroom Life VIMAL OMPRAKASH AGARWAL B 10000 33.60
7/4/2010 509011 Livingroom Life PERVEZTURABALI NAGREE S 10000 33.00
7/4/2010 509011 Livingroom Life MUNIRAPERVEZ NAGREE S 9000 33.00
7/4/2010 509011 Livingroom Life SHAKERA JEHANGIR NAGREE S 31000 33.60
7/4/2010 590111 MASTER OMPARKASH GUPTA B 31074 40.42
7/4/2010 507522 Mount Shivalik PRAGNESH JAGDISHBHAI PATEL B 173049 51.38
7/4/2010 507522 Mount Shivalik JAI SINGH B 34500 51.05
7/4/2010 507522 Mount Shivalik GAURAV DOSHI B 31320 52.78
7/4/2010 507522 Mount Shivalik PRAGNESH JAGDISHBHAI PATEL S 173049 51.94
7/4/2010 507522 Mount Shivalik RAKESH DASHRATHLAL SUTHAR S 43173 50.55
7/4/2010 532045 Nexxoft Info ASHWIN CHUNIBHAI SHAH B 30000 27.57
7/4/2010 532045 Nexxoft Info PRAGNESH JAGDISHBHAI PATEL B 59589 26.03
7/4/2010 532045 Nexxoft Info PRAGNESH JAGDISHBHAI PATEL S 41523 27.54
7/4/2010 526159 Nikhil Adhsv DIPAKK SHAH S 24348 43.19
7/4/2010 500311 Nuchem APV SHARES SECURITIES PRIVATE LIMITED B 508000 11.27
7/4/2010 500311 Nuchem GAINFUL MULTITRADE PRIVATE LIMITED S 472661 11.25
7/4/2010 531496 Omkar Overseas SANTOSH ABHAYRAJ SHUKLA B 51900 68.36
7/4/2010 531496 Omkar Overseas HIREN KIRIT GANDHI S 49000 68.35
7/4/2010 512097 Oregon Comm JIGESH AMRUTLAL HIRANI B 20000 209.50
7/4/2010 512097 Oregon Comm SANJAY JETHALAL SONI B 5062 210.00
7/4/2010 512097 Oregon Comm SANJAY JETHALAL SONI S 4974 209.66
7/4/2010 523307 Panasonic Home PACIFIC CORPORATE SERVICES LTD B 475000 167.68
7/4/2010 523307 Panasonic Home SANJIB KUMAR MONDAL S 59466 168.00
7/4/2010 523307 Panasonic Home RKP CONSULTANCY SERVICES PVT.L S 389474 167.61
7/4/2010 511702 Parsharti Inv GUNJAN KHETAN B 20000 12.68
7/4/2010 530923 Passari Cellu SOUTHERN CONTAINER LEASING COMPANY S 25098 41.14
7/4/2010 531467 Polypro Fibrils STATUS EQUITY AND FINANCE PVT S 41400 36.26
7/4/2010 503873 Priyadarshini Spn PRADEEP KR AGGARWAL B 78642 23.30
7/4/2010 503873 Priyadarshini Spn ABHI CAPITAL SERVICES LIMITED S 61100 23.32
7/4/2010 502587 Rama Pulp BP FINTRADE PRIVATE LIMITED S 43428 25.96
7/4/2010 531952 Riba Textiles NARESHCHAND JAIN B 46376 17.49
7/4/2010 531952 Riba Textiles NARESHCHAND JAIN S 46376 17.46
7/4/2010 532731 Rohit Ferro TRANSGLOBAL SECURITIES LTD. B 207140 57.56
7/4/2010 532731 Rohit Ferro TRANSGLOBAL SECURITIES LTD. S 207140 57.35
7/4/2010 512359 Rotam Comm SHAMANJWALI PVT LTD S 25001 142.00
7/4/2010 517447 RS Software NIMISH JAIKISHOR MEHTA B 98269 53.86
7/4/2010 517447 RS Software PREFER ABASAN PRIVETE LIMITED B 55128 54.72
7/4/2010 517447 RS Software TRANSGLOBAL SECURITIES LTD. B 74728 54.53
7/4/2010 517447 RS Software KANCHAN CHHABRA B 91033 54.71
7/4/2010 517447 RS Software SHYAMSUNDER BIYANI B 53492 54.96
7/4/2010 517447 RS Software NIMISH JAIKISHOR MEHTA S 98269 53.86
7/4/2010 517447 RS Software PREFER ABASAN PRIVETE LIMITED S 55128 54.52
7/4/2010 517447 RS Software TRANSGLOBAL SECURITIES LTD. S 74728 54.41
7/4/2010 517447 RS Software KANCHAN CHHABRA S 171345 54.83
7/4/2010 517447 RS Software SHYAMSUNDER BIYANI S 53492 54.74
7/4/2010 531569 Sanjivani Par RATNAMANI MARKETING PRIVATE LIMITED B 100000 59.78
7/4/2010 531569 Sanjivani Par PRAVIN HARISHANKR OZA S 36036 58.64
7/4/2010 533056 SARK SYS SWETA TIBREWALA B 100000 25.48
7/4/2010 533056 SARK SYS SANJEETKUMAR CHOURASIA B 56000 25.26
7/4/2010 533056 SARK SYS MVM SECURITIES PVT LTD S 69822 25.50
7/4/2010 533056 SARK SYS SATELLITE EXIM PRIVATE LIMITED S 50900 25.50
7/4/2010 511754 Shalibhadra Fin PRASHANT MAHADEV KAMBLE B 76143 33.89
7/4/2010 511754 Shalibhadra Fin NILESH EKNATH BHOIR B 30256 33.90
7/4/2010 511754 Shalibhadra Fin MUKUND LAJPATRAI PATEL B 25000 32.20
7/4/2010 511754 Shalibhadra Fin HARSHAD BADANI B 25000 32.20
7/4/2010 511754 Shalibhadra Fin PRASHANT MAHADEV KAMBLE S 47919 33.95
7/4/2010 511754 Shalibhadra Fin NILESH EKNATH BHOIR S 26277 33.96
7/4/2010 511754 Shalibhadra Fin KALA HOLDINGS PRIVATE LIMITED S 181889 33.15
7/4/2010 511754 Shalibhadra Fin CHOICE INTERNATIONAL LIMITED S 106232 34.74
7/4/2010 526049 Shri Lakshmi SHALINI DHOOP P. LTD B 83867 165.21
7/4/2010 526049 Shri Lakshmi BLB LIMITED S 125000 164.00
7/4/2010 531645 Southern Ispat DELHI IRON AND STEEL COMPANY PRIVATE LIMITED B 60000 22.54
7/4/2010 532887 Sujana Towers KANCHERLA SRIHARI BABU B 450000 51.00
7/4/2010 532887 Sujana Towers SPARROW INDIA DIVERSIFIED OPPORTUNITIES FUND I GDR S 700000 51.00
7/4/2010 526133 Supertex Inds PINAC STOCK BROKERS PVT LTD B 1366134 3.53
7/4/2010 526133 Supertex Inds PINAC STOCK BROKERS PVT LTD S 1366134 3.61
7/4/2010 526133 Supertex Inds PARAMESHWAR EXPORTS PRIVATE LIMITED S 857500 3.50
7/4/2010 512257 Swasti Vinay Gem ALKEN MANAGEMENT & FINANCIAL S S 255686 4.14
7/4/2010 532338 Valuemart Info GANESHMAL SURESH SHAH B 165000 3.91
7/4/2010 532338 Valuemart Info RAJENDRA KESRIMAL SURANA S 155000 3.90
7/4/2010 526441 Vision Tech RAJENDERA PRASAD S 150000 3.37
7/4/2010 531396 Women Networks MURLIDHAR KANTHER S 25000 26.85
* B - Buy, S - Sell
NSE Bulk Deals to Watch - Apr 7 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
07-APR-2010,AMBICAAGAR,Ambica Agarbathies & Arom,DB (INTERNATIONAL) STOCK BROKERS LTD.,BUY,86506,16.24,-
07-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,C D INTEGRATED SERVICES LTD.,BUY,96246,1214.07,-
07-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,178354,1214.46,-
07-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,139156,1215.63,-
07-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,77982,1216.46,-
07-APR-2010,DCM,DCM Ltd,JAIN ORNA PVT LED,BUY,117779,61.75,-
07-APR-2010,EXCELCROP,Excel Crop Care Limited,INDEA LONG TERM OPPORTUNITIES MASTER FUND,BUY,59088,206.63,-
07-APR-2010,GEMINI,Gemini Communication Limi,MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED,BUY,817952,30.27,-
07-APR-2010,HANUNG,Hanung Toys and Textiles,AJMERA SHARES TRADING PVT LTD,BUY,95871,234.94,-
07-APR-2010,HANUNG,Hanung Toys and Textiles,TCG STOCK BROKING LTD,BUY,150000,235.05,-
07-APR-2010,INFOTECENT,Infotech Enterprises Ltd,IRONWOOD INVESTMENT HOLDINGS,BUY,348000,359.98,-
07-APR-2010,IOLN,IOL Netcom Limited,EVANS FRASER AND COMPANY(INDIA)LTD,BUY,500000,23.92,-
07-APR-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,BUY,8326777,20.91,-
07-APR-2010,JKTYRE,JK Tyre & Industries Ltd,HEENA VORA,BUY,221000,208.17,-
07-APR-2010,JUBLFOOD,Jubilant Foodworks Limite,GENUINE STOCK BROKERS PVT LTD,BUY,417808,403.67,-
07-APR-2010,RSSOFTWARE,R. S. Software (I) Ltd.,KANCHAN CHHABRA,BUY,312170,55.07,-
07-APR-2010,RSSOFTWARE,R. S. Software (I) Ltd.,PREFER ABSAN PRIVATE LIMITED,BUY,50892,54.40,-
07-APR-2010,RSSOFTWARE,R. S. Software (I) Ltd.,SHYAMSUNDER BIYANI,BUY,47484,54.68,-
07-APR-2010,RSSOFTWARE,R. S. Software (I) Ltd.,TRANSGLOBAL SECURITIES LTD.,BUY,68281,54.49,-
07-APR-2010,SHASUNCHEM,Shasun Drug & Chem Ltd,MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED,BUY,394368,60.88,-
07-APR-2010,SHLAKSHMI,Shri Lakshmi Cotsyn Limit,BLB LIMITED,BUY,850,167.00,-
07-APR-2010,SHLAKSHMI,Shri Lakshmi Cotsyn Limit,SRG INFOTECH LTD,BUY,85780,164.45,-
07-APR-2010,SHREEASHTA,Shree Ashtavinayak Cine V,SAFFRON FINANCE LIMITED,BUY,7049865,13.20,-
07-APR-2010,SYNCOM,Syncom Healthcare Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,91698,95.71,-
07-APR-2010,VALECHAENG,Valecha Engineering Limit,AASHKA CONSTRUCTION PVT LTD,BUY,27100,191.58,-
07-APR-2010,VALECHAENG,Valecha Engineering Limit,AJMERA SHARES TRADING PVT LTD,BUY,149810,190.75,-
07-APR-2010,AMBICAAGAR,Ambica Agarbathies & Arom,DB (INTERNATIONAL) STOCK BROKERS LTD.,SELL,86506,16.30,-
07-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,C D INTEGRATED SERVICES LTD.,SELL,96246,1214.67,-
07-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,178354,1214.73,-
07-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MANIPUT INVESTMENTS PVT. LTD.,SELL,139156,1216.69,-
07-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,77982,1215.86,-
07-APR-2010,DCM,DCM Ltd,JAIN ORNA PVT LED,SELL,139609,62.15,-
07-APR-2010,GEMINI,Gemini Communication Limi,MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED,SELL,458988,30.22,-
07-APR-2010,GENUSPOWER,GENUS POWER INFRASTRU LTD,SUNDARAM BNP PARIBAS MUTUAL FUND,SELL,84085,202.64,-
07-APR-2010,HANUNG,Hanung Toys and Textiles,AJMERA SHARES TRADING PVT LTD,SELL,210856,235.26,-
07-APR-2010,IOLN,IOL Netcom Limited,DOMEBELL ELECTRONICS INDIA PVT.LTD,SELL,200000,23.65,-
07-APR-2010,IOLN,IOL Netcom Limited,SHREE DHOOT TREDING AND AGENCIES LTD,SELL,300000,24.08,-
07-APR-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,8375067,20.93,-
07-APR-2010,JHS,JHS Svendgaard Laboratori,JM FINANCIAL SERVICES PRIVATE LIMITED,SELL,147020,58.06,-
07-APR-2010,JKTYRE,JK Tyre & Industries Ltd,HEENA VORA,SELL,133606,206.25,-
07-APR-2010,JUBLFOOD,Jubilant Foodworks Limite,GENUINE STOCK BROKERS PVT LTD,SELL,417808,404.32,-
07-APR-2010,KAVVERITEL,Kavveri Telecom Products,N PRATIMA M,SELL,136290,95.20,-
07-APR-2010,RSSOFTWARE,R. S. Software (I) Ltd.,KANCHAN CHHABRA,SELL,312170,54.49,-
07-APR-2010,RSSOFTWARE,R. S. Software (I) Ltd.,PREFER ABSAN PRIVATE LIMITED,SELL,49542,54.90,-
07-APR-2010,RSSOFTWARE,R. S. Software (I) Ltd.,SHYAMSUNDER BIYANI,SELL,47484,55.09,-
07-APR-2010,RSSOFTWARE,R. S. Software (I) Ltd.,TRANSGLOBAL SECURITIES LTD.,SELL,68281,54.67,-
07-APR-2010,SHASUNCHEM,Shasun Drug & Chem Ltd,MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED,SELL,399663,60.79,-
07-APR-2010,SHLAKSHMI,Shri Lakshmi Cotsyn Limit,BLB LIMITED,SELL,125904,164.01,-
07-APR-2010,SHREEASHTA,Shree Ashtavinayak Cine V,SAFFRON FINANCE LIMITED,SELL,7049865,13.20,-
07-APR-2010,SYNCOM,Syncom Healthcare Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,91698,95.77,-
07-APR-2010,VALECHAENG,Valecha Engineering Limit,AASHKA CONSTRUCTION PVT LTD,SELL,102799,187.45,-
07-APR-2010,VALECHAENG,Valecha Engineering Limit,AJMERA SHARES TRADING PVT LTD,SELL,45382,189.40,-
Small-cap, mid-cap indices outperform Sensex
The key benchmark indices registered small gains in what was a highly volatile trading session. The market attained its highest closing level in more than 25 months. The barometer index BSE Sensex fell below the psychological 18,000 level after racing above that level in early afternoon trade. The Sensex rose 28.65 points or 0.16%, up close to 95 points from the day's low and off close to 75 points from the day's high
Volatility was immense. The Sensex surged past the psychosocial 18,000 mark at the onset of the trading session on firm Asian stocks. It soon fell below that level. The market moved in a narrow range in mid-morning trade. A bout of volatility was witnessed in early afternoon trade as the market came off the higher level soon after hitting a fresh 25-month high. The market slipped into the red in afternoon trade. It regained positive zone later. The market once again slipped into the red in mid-afternoon trade. Fresh selling pulled the market to the day's low in late trade. The market staged a rebound from lower level later with the Sensex regaining positive zone.
NSE's volatility index, India VIX, rose 0.7% to 17.32. The lower level at which the index is currently trading indicates investors' desire to take risk. India VIX is a measure of the market's expectation of volatility over the next 30 calendar days. The index is calculated based on the S&P CNX Nifty options prices.
The market breadth though positive was not as strong as it was earlier in the day. Index heavyweight Reliance industries (RIL) cut early gains. Banking and housing finance firms declined on fears of interest rate hike in the forthcoming Reserve bank of India's review of monetary policy on 20 April 2010. Bharat Heavy Electricals struck a 52-week high of Rs 2559.50 in intra-day trade today, 7 April 2010. Telecom pivotals gained on fresh buying ahead of the auction to provide super fast third generation (3G) service which begins on 9 April 2010. But, FMCG shares declined on profit taking. IT stocks recovered from the day's lows.
Stock-specific action may rule the roost in the near term based on expectations of Q4 March 2010 results. IT bellwether Infosys kickstarts the reporting season on 13 April 2010.
Trends indicate that more Indian companies will be upgraded than downgraded in fiscal year 2010/11, the local unit of a global rating agency said on Wednesday. In a reversal of a three-year trend, the rating agency's upgrades outnumbered downgrades in the second half of 2009/10. However, a global credit event on sovereign debt, impact of inflationary expectations on interest rates, and exchange rate volatility were outlined as the key the risks that could affect credit quality.
While the Greek debt crisis is still sending shivers through the global economy, India's central bank looks set to raise interest rates for the second time in as many months on 20 April 2010, and the speedy recovery of Asia's third-largest economy has raised concerns of a possible surge in capital inflows.
Meanwhile, chief statistician Pronab Sen said on Wednesday that the Reserve Bank of India (RBI) will have to further tighten monetary policy on 20 April 2010 if prices continue to rise, as expected, from 9.89% headline inflation in February 2010. He also said the wholesale price index inflation rate in March 2010 is likely to be higher than in the previous month, partly due to base effect.
Power Minister Sushil Kumar Shinde today said that the country will add only 61,000 megawatts of power generation capacity in the five-year period to March 2012, lower than the target of 78,000 megawatts.
Business activity among Indian services companies grew at a slower pace in March 2010, moving away from 17-month highs touched in February, due to a slowdown in new work and employment and rising costs, a survey showed. The HSBC Markit Business Activity Index, based on a survey of 400 Indian firms, fell to 58.1 in March 2010 from 60.9 in February 2010, which was its highest since September 2008.
Meanwhile, Indian companies continue to raise funds for expansion, future growth and in some cases to lower debt. Market men expect Indian companies to raise large sums of money this year from equity issuance which includes initial public offerings, American Depositary Receipts, Global Depositary Receipts, qualified institutional placements etc. Indian firms have so far raised about $10.5 billion from equity, equity related instruments in calendar 2010 so far. The government has targeted raising Rs 40,000 crore from divestment in the financial year ending March 2011.
European stocks slipped in the red on Wednesday, following strong gains made over the past two sessions, as investors awaited euro zone GDP data for more insight on the region's economic health. The key benchmark indices in France, Germany and UK fell by between 0.1% to 0.32%.
Private-sector activity across the 16-nation euro zone expanded at the fastest rate since August 2007, according to the final Markit composite purchasing managers index for the region released Wednesday. The index rose to 55.9 from 53.7 in February, topping a preliminary estimate of a rise to 55.5. A reading of more than 50 indicates an expansion, while a figure of less than 50 signals contraction.
Asian stocks rose on Wednesday as investors bet the Federal Reserve will keep the benchmark US interest rate at a record low. The key benchmark indices in Hong Kong, Japan, Indonesia, Taiwan, South Korea and Singapore rose by between 0.03% to 1.82%. However, China's Shanghai Composite index slipped 0.33%.
The Bank of Japan's policy board decided Wednesday to keep its policy interest rates unchanged and took no further action to fight deflation, as financial markets have stayed relatively calm and there appear some positive signals for the economy. The bank's policy board voted unanimously at the end of a two-day meeting to leave the unsecured overnight call loan rate unchanged at 0.1%, the level it has been since December 2008. The BOJ said in a statement that it will aim to maintain an extremely accommodative financial environment in the conduct of monetary policy.
The World Bank on Wednesday sharply raised its forecast for economic growth in East Asia to reflect reviving global demand, sustained fiscal and monetary stimulus in the region and a rapid rebound in consumer spending. The developing economies of East Asia will grow by 8.7% in 2010, the bank said in a semi-annual economic update. In November, it had projected 7.8% growth. Stripping out China, growth will spurt to 5.5% in 2010 from 1.3% in 2009, the Washington-based lender said. The World Bank said China's economy may expand 9.5% this year from 8.7% in 2009.
Australia's central bank underlined its determination to reduce monetary stimulus on Tuesday when it lifted its benchmark interest rate from 4 to 4.25%, its fifth such rise since October 2009. In an upbeat assessment of the country's outlook, the Reserve Bank of Australia indicated growth this year would be around a trend of 3.25 to 3.5% and inflation during the same period would be close to its 2 to 3% target range.
In US market action, the S&P 500 and the Nasdaq Composite rose modestly on Tuesday as the banking sector got a lift from positive analysts' comments, while minutes from the Federal Reserve's last meeting eased concern over rising interest rates. The Dow Jones Industrial Average shed 3.56 points, or 0.03%, to 10,969.99. The Standard & Poor's 500 Index gained 2 points, or 0.17%, to 1,189.44 and the Nasdaq Composite index rose 7.28 points, or 0.30%, to 2,436.81
US Treasury Secretary Timothy Geithner said on Wednesday that governments must work to bring more people into the banking system as part of efforts to improve the balance of economic growth. Geithner met a group of Indian financial entrepreneurs and local representatives of major US banks at the University of Mumbai to discuss new technologies and business models to deliver banking services to new populations.
Geithner is on an India tour for economic partnership talks with Indian officials. He said on Tuesday that the United States and India must work together on rebalancing global growth and revamping a battered financial system. Geithner lauded India's handling of its economy through the financial crisis, saying it was emerging stronger and faster than most large economies, adding that prospects for both the United States and Indian economies were encouraging in the face of global recovery.
Emerging market equity funds ended March 2010 with their seventh consecutive week of inflows, bringing net inflows to nearly $7.6 billion in the first quarter. All four of the major fund groups took in modest amounts of fresh money, ranging from a net $6 million for Latin America Equity Funds to $222 million for EMEA Equity Funds. China equity funds, however, recorded inflows for only the third week so far this year as some investors continue to be put off by rich valuations, growing exchange rate and trade frictions with the United States and uncertainty about just how far authorities will go to prevent a property bubble.
The world economy could grow 4.1% this year, 0.2 points more than previously forecast, the International Monetary Fund (IMF) said in the latest draft of its World Economic Outlook. The US economy is now expected to grow 3% this year, instead of the 2.7% forecast in the IMF's January report. The IMF is due to publish its next World Economic Outlook on 21 April 2010.
According to the draft, euro zone growth this year is now forecast to be 0.8%, down 0.1 points from January's estimate. In 2011, the figure is seen at 1.5%, also down 0.1 points from a previous estimate, the report said.
Trading in US index futures indicated that the Dow could fall 19 points at the opening bell on Wednesday, 7 April 2010.
Closer home, market regulator Securities & Exchange Board of India (Sebi) has made it mandatory for companies to list shares within 12 days after the closure of a public issue. On Tuesday, the regulator said that this would be applicable to public issues opening on or after 1 May 2010. With this, the number of days between the closing of a public issue and its listing has been reduced by 10 days, from the existing 22 days.
On the macro front, Reserve Bank of India (RBI) executive director Deepak Mohanty said on Tuesday that the recent surge in inflation has raised concern on whether the supply-driven increase could spill over to the generalised inflation process. Mohanty added that prolonged high inflation even if originating from supply side would give rise to increase inflation expectations and cause general prices to rise. Poorly anchored in inflation expectations makes long-term financial planning more complex with potential adverse effects on investment and growth, Mohanty said
Meanwhile, commercial banks will maintain a status quo on interest rates till such time the Reserve Bank of India (RBI) reviews its monetary policy 20 April 2010, an umbrella organisation of the banks said Monday. In a bid to tame the price rise by sucking excess money out of the system, the RBI hiked two major policy rates by 25 basis points each on 19 March2010 in a move that the industry said could impact growth. The repo rate was revised to 5% and the reverse repo rate to 3.5%, marking an end to the easy money policy regime.
Meanwhile, the Indian government is reportedly planning to raise $2.7 billion by listing 10% of Coal India, the world's largest coal producer. The company plan to offer 63.1 crore shares to investors by the end of July or early August at the latest, reports citing the company's chairman Partha S. Bhattacharyya indicated.
The government has taken the first concrete step towards the introduction of the Goods and Services Tax (GST). Since the introduction of the tax would require amendment to the Constitution, the government has sought the Supreme Court's opinion on the amendments proposed. This will ensure these amendments are not challenged in the court later. This has been done through a Presidential reference to the Supreme Court.
Finance Minister Pranab Mukherjee recently said the economy would soon return to the 9% growth trajectory, helped by various measures announced in the Union Budget 2010-11. He said the economy would post 8.25-8.75% growth in the current fiscal after recording 7.2% growth in 2009-10, which is impressive by global standards.
Prime Minister Manmohan Singh recently said that the economy would get back to 9% growth by the end of the Eleventh Five Year Plan period, and do even better after that. After clocking 9% plus growth for three straight years till 2007-08, the country's GDP grew by a relatively modest rate of 6.7% in 2008-09 on account of the international financial crisis.
India's manufacturing growth slowed down in March 2010, dropping from a 20-month-record in February 2010, as mounting cost pressures took a toll on expansion in output, a survey released on Thursday showed. The HSBC Markit Purchasing Managers' Index , based on a survey of 500 companies, fell to 57.8 in March 2010 from 58.5 in February 2010, which was the strongest since June 2008. A reading above 50 means activity is expanding. The new orders index fell to 62.7 in March from 64 in February
Industrial output in February is expected to have grown 16% year-on-year, Industry Secretary said on Wednesday. The output in January grew an annual 16.7%.
Foreign direct investment rose 15.4% to $1.72 billion in February 2010 over February 2009, government said Wednesday.
Exports in February grew 34.8% on year to $16.09 billion, Trade Minister Anand Sharma said last week. Exports are expected to grow 15-20% in the year that starts on 1 April 2010, Sharma said. Imports, too, maintained momentum growing by 66% to $25 billion underscoring the strong revival in the domestic economy.
Top banking executives on Monday told the Reserve Bank of India (RBI) that credit growth will be over 20% in the year ending March 2011 (FY 2011) and that they don't expect interest rates to go up soon. They don't feel there is any upward pressure on interest rates. Some bank chiefs met RBI Governor D. Subbarao ahead of the annual monetary policy scheduled for 20 April 2010 to discuss on issues including outlook on credit, deposit growth, lending rates, economic growth and inflation.
Global credit rating agency Standard & Poor's, last month, revised the outlook on India to stable from negative due to improved government finances.
The forecast for the southwest monsoon for 2010 is the next major trigger for the market. Good rains this year after last year's drought will boost farm output and rural incomes. But another monsoon failure will add to inflationary pressure which in turn may hamper the current strong economic rebound. The June-September monsoon season is important for India as about 60% of the country's farmlands are rain-fed and more than half of the workforce is employed in the agriculture sector.
Tokyo-based Research Institute for Global Change has predicted normal monsoon rains in India for the current year. Agriculture secretary P K Basu said in a media interview on Monday, 5 April 2010, that early signs indicate normal monsoon rains this year. The Indian Meteorological Department (IMD) issues a monsoon forecast, usually in the second half of April after considering weather observations in different parts of the world and extrapolating statistical data.
A weakening El Nino is a positive sign for the monsoon, Ajit Tyagi, director general at the India Meteorological Department, said on 18 March 2010. The cyclical heating of the Pacific Ocean known as El Nino will continue to fade, US forecasters said last month. The weather event, which occurs every four to seven years, brings more rain to South America and less precipitation to Asia.
The BSE 30-share Sensex rose 28.65 points or 0.16% to 17,970.02, its highest closing level since 19 February 2008. The index rose 106.49 points at the day's high of 18,047.86 in early afternoon trade. The Sensex lost 63.06 points at the day's low of 17,878.31 in mid-afternoon trade.
The S&P CNX Nifty gained 8.65 points or 0.16% to 5,374.65, its highest since 5 February 2008. Nifty hit a high of 5,399.65.
BSE clocked turnover of Rs 5863 crore, higher than Rs 5653.09 crore on Tuesday, 7 March 2010.
The BSE Mid-Cap index rose 0.52% and the BSE Small-Cap index rose 0.7%. Both the indices outperformed the Sensex.
The BSE Auto index (up 1.1%), the BSE Oil & Gas index (up 0.76%). the BSE Realty index (up 0.7%), the BSE Power index (up 0.64%), the BSE PSU index (up 0.42%), the BSE FMCG index (up 0.39%), the BSE Teck index (up 0.24%), outperformed the Sensex.
The BSE Bankex (down 0.4%), the BSE Metal index (down 0.13%), the BSE Consumer Durables index (down 0.11%), the BSE IT index (down 0.07%), the BSE Capital Goods index (down 0.01%), the BSE HealthCare index (up 0.09%), underperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1666 shares advanced as compared with 1219 that declined. A total of 88 shares remained unchanged. The breadth was much stronger in afternoon trade.
Among the 30-member Sensex pack, 19 advanced while the rest of them slipped.
Cement stocks rose on strong shipment figures in the month of March. India's largest cement maker by sales ACC jumped 2.41% on reports the company is planning to ramp up its annual production capacity to 30 million tonnes by the end of this financial year through brownfield projects.
Among other cement stocks, Ambuja Cements, India Cements and Ultratech Cement rose by between 0.12% to 2.27%.
India's largest truck maker by sales Tata Motors gained 2.42%. The company reported a 38% jump in sales in March 2010 from a year earlier.
Index heavyweight Reliance Industries (RIL) rose 0.7% to Rs 1,129. The stock rose in volatile trade after moving in a band of Rs 1123.05 to Rs 1171. RIL is producing 63-64 million standard cubic metres a day (mmscmd) of gas from the D6 block off India's east coast, executive director P.M.S. Prasad said on Tuesday. The company is producing 21,000 barrels per day of oil from the block, he added.
Telecom pivotals gained ahead of the auction which begins on 9 April 2010 to provide super fast third generation (3G) service in the country's booming cellular market. The government is hoping to reap around $8 billion from the sale of 3G airwaves. India's largest listed cellular services provider by users Bharti Airtel rose 1.41%.
India's second listed largest cellular services provider by users Reliance Communications gained 0.31%.
3G allows mobile phone users to surf the Internet, video conference and download music, video and other content at a much faster pace than the current second-generation or 2G service.
India's largest real estate company by sales DLF gained 1.2%. The stock extended two-day gains on recent reports the company has appointed an advisor to find buyers for Aman Resorts, a luxury hotel chain it had acquired in November 2007, for $400 million.
Among other realty stocks, Phoenix Mills, Akruti City and Ansal Properties rose by between 1.37% to 4.23%.
Capital goods pivotals saw divergent trend. India's top power equipment maker by sales Bharat Heavy Electricals (Bhel) rose 0.27% to Rs 2535.50, extending recent gains on reports the company plans to re-enter wind turbine manufacturing space in the next three months. The stock rose to a 52-week high of Rs 2559.50 in intra-day trade today, 7 April 2010.
India's largest engineering and construction firm by sales Larsen & Toubro (L&T) fell 0.58% on profit booking. The company on Monday said it has received an order worth Rs 1,060 crore from Gujarat State Petroleum Corporation (GSPC) to build an offshore oil platform.
FMCG stocks declined on profit taking. India's largest FMCG company by sales Hindustan Unilever dropped 2.07%. Among other FMCG stocks, Nestle India, Marico and United Breweries fell by between 0.15% to 2.02%.
Banking and housing finance shares edged lower on fears of an impending hike in key policy rates by the Reserve Bank of India at its monetary policy review meet scheduled to be held on 20 April 2010.
India's largest bank by net profit and branch network State Bank of India fell 0.55% extending Tuesday's losses. Chairman O.P. Bhatt said on Tuesday the bank may raise its lending and deposit rates in a couple of months. The state-owned bank will wait for the Indian central bank's monetary policy action to take a final call on interest moves, Bhatt said.
India's largest private sector bank by net profit ICICI Bank fell 1.13%. But, India's second largest private sector bank by net profit HDFC Bank rose 0.11%.
India's largest mortgage finance firm by total income Housing Development Finance Corporation fell 0.67%.
IT stocks staged a comeback in late trade after sliding in early trade on the back of a firm rupee. A firm rupee adversely affects operating profit margin of IT firms as the sector derives a lion's share of revenue from exports. The rupee edged lower after hitting a 19-month high against the dollar.
India's third largest software services exporter by sales Wipro rose 0.08% to Rs 715.60, off day's low of Rs 708. India's largest software services exporter by sales Tata Consultancy Services rose 0.48% to Rs 798.55, recovering from day's low of Rs 780
India's second largest software services exporter by sales Infosys slipped 0.21% to Rs 2644.05 after sliding to day's low of Rs 2560.40
India's largest private sector steel maker by sales Tata Steel fell 0.19%. The company said on Tuesday its sales for the fiscal year ended on 31 March 2010 rose 18% from a year ago to 6.17 million tonnes.
India's top power utility firm NTPC rose 0.86% on reports the company plans to add 4,000-4,500 mega watt generation capacity in the fiscal year to March 2011. For the current financial year, the company plans capital expenditure of Rs 28000 - 29000 crore, 70% of which will be met through debt.
India's largest private sector power utility firm by sales Reliance Infrastructure rose 1.92%. The company said on Monday it commissioned a 600 megawatt unit at the Rajiv Gandhi Khedar Thermal Power Plant at Hisar in Haryana.
Cals Refineries clocked the highest volume of 4.27 crore shares on BSE.Shree Ashtavinayak Cine Vision (1.43 crore shares), Birla Power Solutions (1.32 crore shares), NHPC (1.27 crore shares) and Bellarpur Industries (1.23 crore shares) were the other volume toppers in that order.
ARSS Infra clocked the highest turnover of Rs 355.71 crore on BSE. Jubilant Food Organosys (Rs 343.94 crore), Axis Bank (Rs 248.39 crore), Persistent Systems (Rs 102.06 crore) and Reliance Industries (Rs 94.58 crore) were the other turnover toppers in that order.
Daily Call - Apr 7 2010
Dow recouped intraday losses to end flat while S & P 500 and Nasdaq closed with modest gains on the back of assurance emanating from the minutes of the Fed’s latest policy meeting that easy money conditions would continue. Oil, gold and Dollar all rose, though modestly.
Our markets took a breather yesterday after running hard for two days. Mid-cap and Small-cap stocks however continued their upward journey. Massive activity was witnessed in Nifty options where FIIs bought worth almost Rs. 1200 cr compared to buying of Rs. 350 cr. in index futures. Nifty calls added 15 lakh shares in open interest while Puts OI went up by 27 lakh shares. Mid-cap and small-cap stocks continue to hog the limelight and that’s where traders should concentrate as the Nifty consolidates. Meaningful resistance in Nifty comes only around 5470 where trendline adjoining tops of October 2009 and January 2010 is placed. 5235 continues to be key support.
Indian markets to start positive
Headlines for the day:
Godrej Consumer Products buys Indonesian Megasari—Business Standard
Sebi brings down listing time for IPOs to 12 days—DNA Money
Jindal Power raises Rs10,057-cr loan for Chhattisgarh plant—Business Standard
Events for the day:
Major corporate action
Ex-date for stock split from Rs10 to Rs2 of Unity Infraprojects
Ex-date for final dividend of Aventis Pharma
For more events, log on to Sharekhan.com
Results: Allcargo Global Logistics
Pre-market report
Global signals
The European stock market closed firmer on Tuesday, catching-up on solid US economic data and digesting the announcement of a general election for May 6 in Britain after a long Easter holiday weekend.
The US markets ended the session on a flat note. The Dow Jones closed at 10969, lower by three points, Nasdaq ended at 2436, higher by seven points and S&P shut at 1189, up two points.
In today's trade, the Asian markets were trading in the positive territory, except Shanghai Composite. At the time of writing this report, SGX Nifty was trading 16 point higher.
Indian markets
The Indian indices may continue their recent rally, after taking a breather yesterday owing to persisting strong global cues. The markets to open firm and expected to trade in a range-bound through the day in the absence of any fresh triggers. It is also likely to witness a sideway trend and would consolidate before heading for a fresh rally. Profit booking is also expected at higher levels.
Commodity cues
In the commodity space, the crude oil prices posted gains, with the Nymex light crude oil for the May series advanced by $0.22 per barrel, whereas in the metals space, the Comex Gold for the May series rose by $2.20 and the Comex Silver for the May series was down by $0.18 to a troy ounce respectively.
Daily trend of FII/MF investment in equities
The FIIs still continue to be pumping money in the Indian market as on April 06, 2010 and were the net buyers of the Indian stocks to the tune of Rs970.50 crore, whereas the domestic mutual funds, on March 30, 2010, were the net sellers of the stocks to the tune of Rs100.20 crore
Market may extend three-day gains on higher Asian stocks
The market is likely to open on a firm note mirroring positive Asian equities. The S&P CNX Nifty futures for April 2010 expiry were up 14 points in Singapore. However profit booking might emerge during the later half of the day's trading sessions after three sessions of gains for the BSE Sensex.
Stock-specific action may rule the roost in the near term based on expectations of Q4 March 2010 results. IT bellwether Infosys kickstarts the reporting season on 13 April 2010.
Steel stocks may be in demand on reports top steel makers saw up to 15% increase in sales in March 2010 from a year ago owing to robust demand from automobile and infrastructure sectors. The metal prices are likely to move up further due to rise in raw material prices, particularly iron ore, reports indicated.
Asian stocks rose as investors bet the Federal Reserve will keep the benchmark US interest rate at a record low. The key benchmark indices in Hong Kong, Japan, Indonesia, South Korea, Taiwan, and Singapore rose by between 0.05% to 1.15%. However China's Shanghai Composite index slipped 0.19%.
Meanwhile, Australia's central bank underlined its determination to reduce monetary stimulus on Tuesday when it lifted its benchmark interest rate from 4 to 4.25%, its fifth such rise since October 2009. In an upbeat assessment of the country's outlook, the Reserve Bank of Australia indicated growth this year would be around a trend of 3.25 to 3.5% and inflation during the same period would be close to its 2 to 3% target range.
In US market action, the S&P 500 and the Nasdaq Composite rose modestly on Tuesday as the banking sector got a lift from positive analysts' comments, while minutes from the Federal Reserve's last meeting eased concern over rising interest rates. The Dow Jones Industrial Average shed 3.56 points, or 0.03%, to 10,969.99. The Standard & Poor's 500 Index gained 2 points, or 0.17%, to 1,189.44 and the Nasdaq Composite index rose 7.28 points, or 0.30%, to 2,436.81
US Treasury Secretary Timothy Geithner said on Tuesday that the United States and India must work together on rebalancing global growth and revamping a battered financial system. Geithner lauded India's handling of its economy through the financial crisis, saying it was emerging stronger and faster than most large economies, adding that prospects for both the United States and Indian economies were encouraging in the face of global recovery. Geithner is in Delhi to launch economic and financial partnership talks between the United States and India in an effort to elevate the countries' bilateral relationship.
Emerging market equity funds ended March 2010 with their seventh consecutive week of inflows, bringing net inflows to nearly $7.6 billion in the first quarter. All four of the major fund groups took in modest amounts of fresh money, ranging from a net $6 million for Latin America Equity Funds to $222 million for EMEA Equity Funds. China equity funds, however, recorded inflows for only the third week so far this year as some investors continue to be put off by rich valuations, growing exchange rate and trade frictions with the United States and uncertainty about just how far authorities will go to prevent a property bubble.
The world economy could grow 4.1% this year, 0.2 points more than previously forecast, the International Monetary Fund (IMF) said in the latest draft of its World Economic Outlook. The US economy is now expected to grow 3% this year, instead of the 2.7% forecast in the IMF's January report. The IMF is due to publish its next World Economic Outlook on 21 April 2010.
According to the draft, euro zone growth this year is now forecast to be 0.8%, down 0.1 points from January's estimate. In 2011, the figure is seen at 1.5%, also down 0.1 points from a previous estimate, the report said.
Closer home, market regulator Securities & Exchange Board of India (Sebi) has made it mandatory for companies to list shares within 12 days after the closure of a public issue. On Tuesday, the regulator said that this would be applicable to public issues opening on or after 1 May 2010. With this, the number of days between the closing of a public issue and its listing has been reduced by 10 days, from the existing 22 days.
On the macro front, Reserve Bank of India (RBI) executive director Deepak Mohanty said on Tuesday that the recent surge in inflation has raised concern on whether the supply-driven increase could spill over to the generalised inflation process. Mohanty added that prolonged high inflation even if originating from supply side would give rise to increase inflation expectations and cause general prices to rise. Poorly anchored in inflation expectations makes long-term financial planning more complex with potential adverse effects on investment and growth, Mohanty said
Meanwhile, commercial banks will maintain a status quo on interest rates till such time the Reserve Bank of India (RBI) reviews its monetary policy 20 April 2010, an umbrella organisation of the banks said Monday. In a bid to tame the price rise by sucking excess money out of the system, the RBI hiked two major policy rates by 25 basis points each on 19 March2010 in a move that the industry said could impact growth. The repo rate was revised to 5% and the reverse repo rate to 3.5%, marking an end to the easy money policy regime.
The stock market regulator Securities and Exchange Board of India (Sebi) on Monday notified amendments to the equity listing agreement, which were decided at its November 2009 board meeting. According to these amendments, all listed companies are required to disclose their audited annual results on a standalone as well as on a consolidated basis within 60 days from the end of the financial year. Earlier it was 90 days. This in effect, means all listed companies will have to submit the recently-concluded financial year's results by 31 May 2010 itself.
Listed companies have been further asked to publish the turnover, profit before tax and profit after tax on a stand-alone basis. These measures have been taken to streamline the submission of financial results by listed entities and uniformity in reporting, while reducing the timeline for submission of the same with the stock exchanges.
Meanwhile, the finance ministry has suggested easing of the rules for calculating foreign investment in a company. The proposed rules, which take out sundry entries of indirect investment, will make life easier for companies which have high foreign institutional investment and face the risk of breaching sector-specific caps. The ministry has said that portfolio investment by foreign institutional investors (FIIs), purchase of shares and convertible debentures by non-resident Indians (NRIs), and those by persons of Indian origin (PIO) should be excluded when calculating foreign investment in a company.
Under the much-debated Press Notes 2, 3 and 4 announced last year, all kinds of foreign investments are included when calculating foreign investment: Foreign direct investment (FDI), FII holdings, NRI holdings, American Depository Receipts, Global Depository Receipts, foreign currency convertible bonds, convertible preference shares and convertible currency debentures, among others. These rules apply to downstream investments by companies with foreign holding.
The government has taken the first concrete step towards the introduction of the Goods and Services Tax (GST). Since the introduction of the tax would require amendment to the Constitution, the government has sought the Supreme Court's opinion on the amendments proposed. This will ensure these amendments are not challenged in the court later. This has been done through a Presidential reference to the Supreme Court.
Finance Minister Pranab Mukherjee recently said the economy would soon return to the 9% growth trajectory, helped by various measures announced in the Union Budget 2010-11. He said the economy would post 8.25-8.75% growth in the current fiscal after recording 7.2% growth in 2009-10, which is impressive by global standards.
Prime Minister Manmohan Singh recently said that the economy would get back to 9% growth by the end of the Eleventh Five Year Plan period, and do even better after that. After clocking 9% plus growth for three straight years till 2007-08, the country's GDP grew by a relatively modest rate of 6.7% in 2008-09 on account of the international financial crisis.
India's manufacturing growth slowed down in March 2010, dropping from a 20-month-record in February 2010, as mounting cost pressures took a toll on expansion in output, a survey released on Thursday showed. The HSBC Markit Purchasing Managers' Index , based on a survey of 500 companies, fell to 57.8 in March 2010 from 58.5 in February 2010, which was the strongest since June 2008. A reading above 50 means activity is expanding. The new orders index fell to 62.7 in March from 64 in February
Industrial output in February is expected to have grown 16% year-on-year, Industry Secretary said on Wednesday. The output in January grew an annual 16.7%.
Foreign direct investment rose 15.4% to $1.72 billion in February 2010 over February 2009, government said Wednesday.
Exports in February grew 34.8% on year to $16.09 billion, Trade Minister Anand Sharma said last week. Exports are expected to grow 15-20% in the year that starts on 1 April 2010, Sharma said. Imports, too, maintained momentum growing by 66% to $25 billion underscoring the strong revival in the domestic economy.
Top banking executives on Monday told the Reserve Bank of India (RBI) that credit growth will be over 20% in the year ending March 2011 (FY 2011) and that they don't expect interest rates to go up soon. They don't feel there is any upward pressure on interest rates. Some bank chiefs met RBI Governor D. Subbarao ahead of the annual monetary policy scheduled for 20 April 2010 to discuss on issues including outlook on credit, deposit growth, lending rates, economic growth and inflation.
The BSE Sensex vaulted 7,819.27 points or 80.5% in the year ended March 2010 (FY 2010) helped by heavy purchases by foreign institutional investors. As per data from the stock exchanges, foreign institutional investors (FIIs) bought stocks worth a net Rs 14,792.31 crore in March 2010. Indian companied raised over Rs 47,800 crore through public offers during the fiscal 2009-2010, following buoyant secondary market.
Global credit rating agency Standard & Poor's, last month, revised the outlook on India to stable from negative due to improved government finances.
The forecast for the southwest monsoon for 2010 is the next major trigger for the market. Good rains this year after last year's drought will boost farm output and rural incomes. But another monsoon failure will add to inflationary pressure which in turn may hamper the current strong economic rebound. The June-September monsoon season is important for India as about 60% of the country's farmlands are rain-fed and more than half of the workforce is employed in the agriculture sector.
Tokyo-based Research Institute for Global Change has predicted normal monsoon rains in India for the current year. Agriculture secretary P K Basu said in a media interview on Monday, 5 April 2010, that early signs indicate normal monsoon rains this year. The Indian Meteorological Department (IMD) issues a monsoon forecast, usually in the second half of April after considering weather observations in different parts of the world and extrapolating statistical data.
A weakening El Nino is a positive sign for the monsoon, Ajit Tyagi, director general at the India Meteorological Department, said on 18 March 2010. The cyclical heating of the Pacific Ocean known as El Nino will continue to fade, US forecasters said last month. The weather event, which occurs every four to seven years, brings more rain to South America and less precipitation to Asia.
The key benchmark indices were little changed on Tuesday, 6 April 2010, after moving between positive and negative zone in intraday trade. The BSE 30-share Sensex rose 5.89 points or 0.03% to 17,941.37, its highest closing since 19 February 2008. The S&P CNX Nifty fell 2.40 points or 0.04% at 5,366.
Foreign funds bought shares worth Rs 261.70 crore and domestic funds bought shares worth Rs 81.07 crore on Tuesday, 6 April 2010, as per provisional data.
Intrasoft Technologies Grey Market Premiums
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Shree Ganesh Jewellery | 260 | Discount |
| Infrasoft Technology | 145 | 10 to 12 |
| Goenka Diamond & Jewellery | 135 | Discount |
Crude ends marginally higher
Crude oil prices ended marginally higher on Tuesday, 06 April 2010. Prices oscillated in tandem fluctuating US stocks and rising US dollar. Ultimately, prices rose on anticipation of higher demand in coming months, which arose following positive economic reports since the past couple of days at Wall Street.
On Tuesday, crude-oil futures for light sweet crude for May delivery closed at $86.84/barrel (higher by $0.22 or 0.2%). During intra day trading, it dropped quite significantly. For the month of March, crude rose 5.1%. For the first quarter of this year, crude rose by 5.5%. Year to date, crude is higher by 9%.
Prices are still very much lower as compared to 3 July, 2008 settlement of $145.29 a barrel and an intraday high of $147.27 on 11 July, 2008, an all-time high. However, oil has also gained nearly 156% from a December, 2008 nadir. That day prices settled at $33.87 a barrel following an intraday low of $32.40.
In the currency market on Tuesday, the dollar index, which measures the strength of the dollar against basket of six other currencies rose by almost 0.6%. The dollar index gained about 0.7% in March and rallied 4% during the first quarter. The dollar index has gained 4.7% this year till date.
Among economic reports scheduled on Tuesday, minutes from the most recent FOMC meeting were announced. According to those minutes, the Fed's extended period language does not limit ability to tighten policy promptly, but the "extended period" could last longer if economy worsens or inflation declines. To the latter point, the FOMC members stated that consumer spending in the first quarter still seemed constrained and that inflation data has shown a greater-than-expected decline.
Elsewhere, natural gas futures fell the most in more than two weeks in New York on speculation that supplies of the power plant and industrial fuel will be ample to meet U.S. requirements. Natural gas for May delivery declined 18.1 cents (4.2%) to settle at $4.096 per million British thermal units. The contract is down 26% this year.
Crude ended FY 2009 higher by 78%, the highest yearly gain since 1999. It reached a high of $82 earlier in October 2009 and hit a low of $33.98 on 12 February 2009. Crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex.
At the MCX, crude oil for April delivery closed higher by Rs 1 (0.02%) at Rs 3,844/barrel. Natural gas for April delivery closed at Rs 182.8/mmbtu, lower by Rs 8.2 (4.2%).
Daily News Roundup - Apr 7 2010
NTPC's plan to enter nuclear power generation business might take off soon, with the government planning to allocate a site for the development of 2X700mw capacity to the proposed NTPC-NPCIL JV. (FE)
NTPC plans to borrow Rs200bn in financial year 2010-11, 70% of which has already been tied up, as it quadruples generation capacity. (BS)
BHEL along with two of its other JV partners are expected to commence work on the Rs25bn Integrated Coal Gassification Combined Cycle power plant at Vijayawada in Andhra Pradesh in June 2010. (BS)
BHEL’s Tiruchy unit plans to increase the R&D spend by 73% to Rs4bn. (BS)
Tata Steel reported 18% growth in sales to 6.17mt during the fiscal 2010, against 5.23mt in the same period last year. (BL)
IOC refineries have achieved overall capacity utilization of 102% during 2009-10. (BL)
Wipro plans to exit its babycare and vanaspati business. (BS)
Wipro Technologies, the global IT services business of Wipro, announced that it has signed a partnership agreement with Philips to offer Blu-ray middleware and solution development services around Philips' developed Blu-ray technology. (BL)
Malvinder and Shivinder Singh stepped down from the board of Religare Enterprises to focus on the group’s healthcare business, handing over charge of the financial services firm to the family’s trusted aide Sunil Godhwani. (ET)
Godrej Consumer Products acquired the Indonesian household product maker PT Megasari Mamsur, as well as its distribution arm, PT Intrasari Raya for Rs12bn in an all cash deal. (BS)
Jindal Power, an arm of JSPL, raised Rs100.6bn loan for its 2,400MW Tamnar power project in Raigarh, Chhattisgarh. (BS)
Unitech has formed a panel of five board members to push the demerger of its non-core business into a separate entity. (ET)
In a bid to expand its haircare portfolio, Kolkata-based Emami is test-marketing a few products, including a shampoo, in Andhra Pradesh. (BS)
ACC plans to ramp up its annual production capacity to 30mtpa by the end of this financial year through brownfield projects. (BS)
ICRA Online, the wholly-owned subsidiary of ICRA, has partnered with the UK-based IDEAcarbon to offer carbon rating services in India. (BL)
Suzlon secured an order from the Gujarat State Fertilizers & Chemicals to set up, operate and maintain an 18MW wind energy project at Adodar in Porbandar district. (BL)
Punj Lloyd bagged two orders worth Rs2.4bn for a processing unit and setting up offsite facilities at the Mangalore Refinery. (FE)
Simplex Infrastructures secured orders worth Rs21.7bn during fourth quarter of 2009-10 fiscal. (FE)
NMDC will be added to the FTSE All-World Index and FTSE All-Emerging Index effective from the start of trading on April 13, 2010. (FE)
Reliance Power will soon start generating revenues from the sale of electricity as it has started commercial operations of its first unit at Rosa Power Project in Uttar Pradesh. (BS)
Ruchi Group has signed a pact with Japanese conglomerate Mitsui to form a JV company for setting up steel service centers across the country to cater to automotive, white goods and construction sector. (FE)
Coal India plans to invest Rs60bn in foreign acquisitions this financial year and is currently evaluating 10 overseas proposals that include five proposals for equity infusion. (BS)
Coal India’s profit after tax jumped 300% to Rs83bn last year, compared to Rs20bn during 2008-09. (BS)
Coal India plans to step up its focus on value addition and plans to invest US$480mn in setting up 20 washeries with a capacity of 111.1mt over the next two to three years. (BL)
Essar Oil plans to lay a 160-km pipeline from Durgapur to Kolkata to transport gas from its CBM blocks to consumers in West Bengal. (BS)
Dish TV plans to expand its subscriber base to 10mn in one year from 7mn today. (BS)
Temasek Holdings Pte is seeking stakes in Indian power producers, including GMR Group, as they double capacity to meet demand. (BS)
Sponge iron industry in Chhattisgarh plunged into raw material crisis as production in nearly half the units had been suspended after disruption in the supply of iron-ore from Orissa. (BS)
DTH subscribers are likely to double in the next 2 years, up from 20mn at present. (BS)
The online auction system for third generation (3G) and broadband wireless access (BWA) spectrum will prevent firms from placing unrealistic bids. (BS)
Private and cooperative sugar mills have appealed to the Centre to reconsider its decision on extending duty-free import of raw sugar for bulk consumers till April 30, 2011. (BS)
Data released by TRAI, in the quarter ended December 2009, indicated a rapid increase in the subscriber base from rural areas. (BS)
The government is planning to link domestic coal prices to the gross calorific value of the product, a step which may lead to an increase in prices of the fuel. (BS)
The biofuel industry is finding it tough to remain in business, with both government pricing and raw material availability working against them. (BS)
In its endeavour to make the public issue process more efficient, SEBI has proposed to reduce the time between the closure of the issue and listing to 12 days from May 1. (BS)
India and the US on Tuesday set up a Cabinet level economic partnership forum that is expected to encourage massive investment by US companies in Indian infrastructure, while the US will want to be reciprocated by deeper financial sector reforms. (FE)
Not in the best of health!
From the bitterness of disease man learns the sweetness of health. - Catalan Proverb
The world may be observing Health Day but the bourses don’t seem to be in a state of well being; however, there is nothing bitter as yet. Investors need to stick to their prescribed course of maintaining caution at higher levels.
For the day, we expect a flat start and some resistance at even slightly higher levels. On the global front, the S&P and Nasdaq managed to inch higher while the Dow closed in the red. The Asian markets are mostly higher.
The economic recovery may lose steam, despite recent moderate improvements, according to the Fed minutes from their recent policy meeting. Policymakers indicated that they could raise rates as soon as they see continued signs of life in the economy, according to the minutes.
U.S. light crude oil for May delivery rose 22 cents to settle at $82.86 a barrel on the New York Mercantile Exchange, the highest point for crude since October 2008.
The rupee weakened marginally after hitting a 19-month high on Monday. Reports indicate that the central bank may have intervened.
Pipavav Shipyard will consider issue of securities convertible into shares on preferential basis.
SEBI has proposed to reduce the time between the closure of the issue and listing to 12 days from May 1.
In other prominent news in the media:
A 7.8-magnitude earthquake has struck northern Sumatra, Indonesia
Reports suggest that Wipro plans to exit its babycare and vanaspati business while Wipro Technologies has signed a partnership agreement with Philips to offer Blu-ray middleware and solution development services.
Temasek Holdings Pte is seeking stakes in Indian power producers, including GMR Group, as they double capacity to meet demand. (BS)
The online auction system for third generation (3G) and broadband wireless access (BWA) spectrum will prevent firms from placing unrealistic bids. (BS)
Data released by TRAI, in the quarter ended December 2009, indicated a rapid increase in the subscriber base from rural areas. (BS)
India and the US on Tuesday set up a Cabinet level economic partnership forum that is expected to encourage massive investment by US companies in Indian infrastructure, while the US will want to be reciprocated by deeper financial sector reforms. (FE)
After a stellar show on Monday, the Indian markets were flattened out today as bulls took a breather on account of profit booking at higher levels. On a number of occasions during the day, the BSE Sensex flirted with the 18,000 mark, but was unable to breach the psychological level. Realty and Power stocks were among the major gainers, while Auto and IT stocks remained under pressure. "What was encouraging was that the advance-decline ratio was in favor of the bulls. In an interesting turn of events, local institutions have been net buyers of over Rs8bn in the past couple of sessions. Prior to this, they had consistently been net sellers while FIIs had been net buyers", says Amar Ambani VP Research, India Infoline. Advance-decline ratio, out of total 2980 stocks on the BSE, 1745 stocks advanced as against 1166 declining stocks while, 69 remained unchanged. Global markets too were steady, European markets gained following an extended Easter weekend. In Asia, things were pretty much quiet. Market in Australia rose by nearly 1% despite announcement of a fresh rate hike. The Hong Kong market remained shut today as well. Finally, the BSE Sensex ended flat at 17,950 and NSE Nifty shut shop almost unchanged at 5,366. In Asia, the Nikkei in Japan ended lower by 0.5%, Australia's S&P/ASX gained 1%. Shanghai SE Composite rose 0.5% and Hang Seng index in Hong Kong was closed. In Europe, stocks were trading with a positive bias. The DAX in Germany was up 0.6%, the CAC 40 index in France was up 0.6% and the FTSE in the UK was up 0.6%. Coming back to India, among the BSE sectoral indices, the BSE Realty index was top gainer, the index rose 1.5%, followed by BSE Consumer Durables index up 0.8% and Power index up 0.7%. Outside the frontline indices, the big losers in the broader market were BEL, United Spirits, GTL Infra and KSK Energy. On the other hand, gainers included Allahabad Bank, GE Shipping, Federal Bank and Castrol India. Dishman Pharmaceuticals plans to raise Rs750mn by next month via non-convertible bonds, the MD, J.R. Vyas was quoted as saying. The company plans to use the funds to finance Rs1bn investment in four new drug-making plants, he added. The stock erased early gains and ended lower by 0.6% at Rs219. It opened at Rs221 it touched an intra-day high of Rs223 and a low of Rs217 and recorded volumes of over 91,000 shares on BSE. Shares of SpiceJet shot up by over 7% to Rs61 after media reports stated that Religare Voyages Ltd. may buy a majority stake in the low-cost airline. Religare may pay between Rs70 and Rs75 per share for SpiceJet, added reports. The scrip opened at Rs61 it touched an intra-day high of Rs62.9 and a low of Rs59 and recorded volumes of over 11.1mn shares on BSE. Shares of Suzlon advanced by 2.5% to Rs75 after the company announced that it won 18MW repeat order from Gujarat State Fertilizer. The scrip opened at Rs74 it touched an intra-day high of Rs76 and a low of Rs73 and recorded volumes of over 5.4mn shares on BSE. Shares of Shriram EPC rallied by over 6% to end at Rs230 after reports stated that the company won an order worth Rs1.07bn from SAIL. The scrip opened at Rs220 it touched an intra-day high of Rs239 and a low of Rs200 and recorded volumes of over 0.14mn shares on BSE. Shares of Nu Tek India were locked at 10% upper circuit at Rs38.35 after the company announced that it plans to raise funds and set up a European unit to explore new business opportunities. The scrip opened at Rs36.5 it touched an intra-day high of Rs38.35 and a low of Rs35.6 and recorded volumes of over 0.29mn shares on BSE
Aditya Birla Chemicals
We recommend a buy in the stock of Aditya Birla Chemicals (India) from a short-term perspective. After encountering resistance at the long-term resistance around Rs 103 (early 2008 peak) in January 2010, the stock started to decline. However, the stock found support at its significant intermediate-term support level at Rs 70 in late March and bounced upwards. A positive divergence displayed in the daily moving average convergence and divergence triggered the stock's up-move. It has now decisively penetrated its 50- and 200-day moving average around Rs 70. The advance days are backed with above average volume implying strength in the rally. The stock appears to have resumed its longer-term uptrend that has been in place since November 2009 low of Rs 27.
The daily relative strength index is featuring in the bullish zone and weekly RSI is on the brink of entering in to this zone. The daily moving average convergence is about to enter the positive territory while the weekly MACD is already featuring in this territory. Our short-term forecast on the stock is positive. We expect it to trend upwards to our price target of Rs 90 and Rs 93 subsequently. Short-term traders can buy the stock with stop-loss at Rs 80.5.
via BL
Mixed end for precious metals
Gold shines but silver sheds glaze
Precious metal prices dillydallied for the entire day in search of direction on Tuesday, 06 April 2010. Ultimately, gold prices ended higher despite the dollar index surging significantly higher. The yellow metal price rose on anticipation of higher demand in coming months, which arose following bullish economic data since past couple of sessions. However, silver prices slipped.
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 Tuesday, gold for June delivery ended at $1,136 an ounce, higher by $2.2 (0.2%) an ounce on the New York Mercantile Exchange. Last week, gold ended higher by 1.8%. In FY 2010, gold touched a high of $1,154 in January. For the month of March, gold slid 0.4%. For the first quarter of this year, gold rose by 1.7%, its sixth quarterly rise. On a year to date basis, gold is higher by 3.6%.
On Tuesday, May Comex silver futures ended lower by 18.7 cents (1%) at $17.931 an ounce. For the month of March, silver ended higher by 5%. For the first quarter of this year, silver rose by 3%. On a year to date basis, silver is higher by 5.4%.
In the currency market on Tuesday, the dollar index, which measures the strength of the dollar against basket of six other currencies rose by almost 0.6%. The dollar index gained about 0.7% in March and rallied 4% during the first quarter. The dollar index has gained 4.7% this year till date.
Among economic reports scheduled on Tuesday, minutes from the most recent FOMC meeting were announced. According to those minutes, the Fed's extended period language does not limit ability to tighten policy promptly, but the "extended period" could last longer if economy worsens or inflation declines. To the latter point, the FOMC members stated that consumer spending in the first quarter still seemed constrained and that inflation data has shown a greater-than-expected decline.
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 June delivery closed higher by Rs 54 (0.32%) at Rs 16,556 per ten grams. Prices rose to a high of Rs 16,595 per 10 grams and fell to a low of Rs 16,425 per 10 grams during the day's trading.
At the MCX, silver prices for May delivery closed Rs 139 (0.5%) lower at Rs 27,278/Kg. Prices opened at Rs 27,380/kg and fell to a low of Rs 27,230/Kg during the day's trading.
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