India Strategy - Apr 2010
India Equity Analysis, Reports, Recommendations, Stock Tips and more!
Search Now
Recommendations
Thursday, April 15, 2010
Daily Market Review - Apr 15 2010
Markets could not sustain morning gains and closed deep in the red after a sustained downward drift throughout the trading session. Sensex lost 182 points to close at 17639 while Nifty ended at 5273, down 49 points. Our markets were down the most among all the Asian markets. BSE Mid-cap and Small-cap indices lost 0.2% and 0.6% respectively. Oil & Gas index lost nearly 2%, dragged down by the heavyweight Reliance. Realty stocks however bucked the trend and closed with smart gains. Inflation for the month of March came in at 9.90% versus 9.89% in February. European markets were trading flat while US stock indices futures were down about a fourth of a percent ahead of jobless claims, Industrial production and housing data.
Oil & Gas index and Bankex were the top losers among the sectoral indices, shedding 1.8% and 1.4% respectively while Realty and Consumer Durable indices gained 1.6% and 0.7% respectively. Unitech and Cairn gained the most among the Nifty stocks, up 3.6% and 1.6% respectively while Kotak Bank and Reliance were down the most, losing 3% and 2.6% respectively. BSE advance-decline ratio stood at 1:1.4.
BSE Bulk Deals to Watch - Apr 15 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
15/4/2010 590006 Amrutanjan Health MARWADI SHARES AND FINANCE LTD. B 20138 892.93
15/4/2010 590006 Amrutanjan Health RAMKRISHNA AGARWAL S 38770 880.55
15/4/2010 590006 Amrutanjan Health MARWADI SHARES AND FINANCE LTD. S 20138 892.20
15/4/2010 533163 Arss Infra Proj GENUINE STOCK BROKERS PVT. LTD. B 87949 1240.66
15/4/2010 533163 Arss Infra Proj SMART EQUITY BROKERS PRIVATE LIMITED B 190340 1247.50
15/4/2010 533163 Arss Infra Proj OPG SECURITIES P LTD B 321133 1251.58
15/4/2010 533163 Arss Infra Proj GENUINE STOCK BROKERS PVT. LTD. S 87949 1241.34
15/4/2010 533163 Arss Infra Proj SMART EQUITY BROKERS PRIVATE LIMITED S 190340 1247.75
15/4/2010 533163 Arss Infra Proj OPG SECURITIES P LTD S 321133 1252.18
15/4/2010 517565 Ashco Niulab ALPESH JANTILAL PANDIT S 1835409 1.23
15/4/2010 533138 ASTEC BHATT ENTERPRISES B 100000 56.73
15/4/2010 532507 BAG Films SAFFRON FINANCE LIMITED B 1257711 21.06
15/4/2010 532507 BAG Films SAFFRON FINANCE LIMITED S 1247448 20.64
15/4/2010 531591 Bampsl Sec PRAKASHCHAND GUPTA S 405350 1.39
15/4/2010 512253 Bio Green Inds KALPANA ASHOK DELIWALA S 50000 18.16
15/4/2010 511628 Brescon Corp TIRATH PRADYUMAN PARIKH S 18198 134.82
15/4/2010 590061 Brushman India HITESH RAMJI JAVERI B 75000 8.97
15/4/2010 590061 Brushman India SICPA INDIA LTD S 162588 8.94
15/4/2010 500083 Century Extr BHARAT SHANKAR PHAPALE B 613565 13.98
15/4/2010 500083 Century Extr BHARAT SHANKAR PHAPALE S 654713 14.03
15/4/2010 500083 Century Extr MUMBAI STOCK BROKERS PVT LTD S 252639 14.00
15/4/2010 531337 Channel Guide KAUSHAL INDRAVADAN MEHTA B 30000 16.65
15/4/2010 531337 Channel Guide KAUSHAL INDRAVADAN MEHTA S 30000 16.54
15/4/2010 531337 Channel Guide BAKLIWAL FINANCIAL SERVICES INDIA PVT. LTD. S 48500 16.65
15/4/2010 531171 Devika Prot MRUNAL AGENCY & FINANCE PVT. LTD. S 58025 28.65
15/4/2010 526703 Ecoplast MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED B 36006 34.65
15/4/2010 526703 Ecoplast SANJAY NATVARLAL DESAI B 29000 34.50
15/4/2010 526703 Ecoplast MAVERICK INVESTMENT SOLUTION PVT LTD B 80000 34.61
15/4/2010 526703 Ecoplast KALPANA MADHANI SECURITIES PRIVATE LIMITED B 25000 34.65
15/4/2010 526703 Ecoplast BP FINTRADE PRIVATE LIMITED B 17676 34.27
15/4/2010 526703 Ecoplast MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED S 36006 34.65
15/4/2010 526703 Ecoplast SANJAY NATVARLAL DESAI S 29000 34.65
15/4/2010 526703 Ecoplast KALPANA MADHANI SECURITIES PRIVATE LIMITED S 25000 34.52
15/4/2010 526703 Ecoplast BP FINTRADE PRIVATE LIMITED S 47535 34.65
15/4/2010 500132 Empee Sugars HIREN KIRIT GANDHI B 300000 40.00
15/4/2010 500132 Empee Sugars SUDHIR KOTHARI SANJU B 500000 39.00
15/4/2010 500132 Empee Sugars EMPEE DISTILLERIES LIMITED S 1000000 40.00
15/4/2010 530945 Gangotri Iron BALASO VITHAL SHINDE B 47003 57.32
15/4/2010 530945 Gangotri Iron BALASO VITHAL SHINDE S 47442 57.59
15/4/2010 531744 Gini Silk GARNET INTERNATIONAL LTD B 300000 36.00
15/4/2010 531744 Gini Silk VISHWANATH SEWARAM HARLALKA S 167200 36.00
15/4/2010 531744 Gini Silk GINI TEX LTD S 132800 36.00
15/4/2010 504701 Gontermann Peip MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED B 75506 53.45
15/4/2010 504701 Gontermann Peip DYNAMIC STOCK BROKING INDIA PVT LTD S 97088 52.96
15/4/2010 507981 Jindal Hotels NALANDA MERCANTILES P.LTD B 20000 56.03
15/4/2010 530955 Kailash Ficom MAXILLA FINANCIAL SERVICES PVT B 64500 38.50
15/4/2010 526668 Kamat Hotels STANDARD CHARTERED BANK (MAURITIUS) LIMITED A/C EMERGING IND B 75000 107.70
15/4/2010 530255 KAY Power BAMPSL SECURITIES LTD B 179000 17.85
15/4/2010 530255 KAY Power KAILASHCHAND GUPTA B 73470 17.71
15/4/2010 530255 KAY Power B.S.KHANDELWAL B 77300 17.18
15/4/2010 530255 KAY Power KAUSHALYA GARG S 70000 18.10
15/4/2010 530255 KAY Power BAMPSL SECURITIES LTD S 141501 17.27
15/4/2010 513693 KIC Metaliks ARONI COMMERCIALS LIMITED S 29225 74.55
15/4/2010 532067 Kilpest India POONAM AJMERA B 50000 15.69
15/4/2010 532067 Kilpest India ACME FURNITURE PRIVATE LIMITED B 90028 15.69
15/4/2010 532067 Kilpest India SUBHASH CHAND BANSAL S 160000 15.69
15/4/2010 532067 Kilpest India POONAM AJMERA S 50000 15.69
15/4/2010 531602 Koffee Break ACHALA ELECTRICALS PRIVATE LIMITED B 745009 1.78
15/4/2010 531602 Koffee Break NAVIN GROVER S 582000 1.80
15/4/2010 531366 Kohinoor Broad VINOD AMRATLAL NAAI B 666000 7.26
15/4/2010 523550 Krypton Inds EPOCH SYNTHETICS PRIVATE LIMITED B 30000 42.38
15/4/2010 502250 Marathwada Refrac SUSHMA RANI GUPTA B 3900 293.06
15/4/2010 502250 Marathwada Refrac SANJAY SINGAL B 5000 295.00
15/4/2010 502250 Marathwada Refrac SANJAY SINGAL(HUF) B 5000 295.00
15/4/2010 502250 Marathwada Refrac AARTI SINGHAL B 5000 295.00
15/4/2010 502250 Marathwada Refrac VIKAS RASTOGI S 6200 319.45
15/4/2010 502250 Marathwada Refrac SATYABRATA MISRA S 21850 294.65
15/4/2010 590111 MASTER JAYAVEERA PRAKASH MADDULA B 26400 39.00
15/4/2010 590111 MASTER KRISHNAKANT H MODANI B 33700 39.06
15/4/2010 590111 MASTER SREE LAKSHMI MIKKILINENI B 30020 38.98
15/4/2010 590111 MASTER VIJAY KUMAR TUMMALA S 37700 39.03
15/4/2010 523792 Mazda SHRI PARASRAM HOLDING PVT LTD B 24964 116.63
15/4/2010 531272 Nikki Global SOMPRAKASH GOENKA S 17100 100.00
15/4/2010 531496 Omkar Overseas BHUTIYA HITESH KANABHAI B 50000 68.50
15/4/2010 531496 Omkar Overseas RADHESHYAM RAJNI PUNJABI B 29000 69.04
15/4/2010 532882 Omnitech Info RAJYOG SHARE AND STOCK BROKERS S 79500 193.41
15/4/2010 532607 Ontrack Sys S LAKSHMAN S 44716 15.25
15/4/2010 512097 Oregon Comm MAHESH NARENDRA KATE B 5000 218.00
15/4/2010 512097 Oregon Comm PARESH RAMJIBHAI CHAUHAN S 6000 219.50
15/4/2010 531280 Pankaj Poly EVERGREEN INFOTECH AND DATACOM PRIVATE LIMITED B 32400 20.53
15/4/2010 532606 Parekh Alum AJANTA MERCHANDISE PRIVATE LIMITED B 75000 156.01
15/4/2010 532606 Parekh Alum RELIANCE MUTUAL FUND S 75000 156.00
15/4/2010 532803 Pochiraju Inds ASHOK CHINUBHAI SHAH B 109163 24.73
15/4/2010 531467 Polypro Fibrils PRITI JAYESH SHAH B 50000 40.44
15/4/2010 531467 Polypro Fibrils GEETA AJAY SHAH B 40700 40.50
15/4/2010 531467 Polypro Fibrils NAMRATAKUNJ ANDELIWALA S 45000 40.50
15/4/2010 531467 Polypro Fibrils AMISHA DEVLOPERS LIMITED S 32000 40.50
15/4/2010 500337 Prime Sec MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED B 196829 43.93
15/4/2010 503873 Priyadarshini Spn PRADEEP K AGGARWAL B 214689 30.34
15/4/2010 503873 Priyadarshini Spn PRADEEP K AGGARWAL S 133555 30.34
15/4/2010 532918 Rathi Bars JAGANNATH CHANDRAKANT VALLAKATI B 156410 17.72
15/4/2010 532918 Rathi Bars TECKNOPOINT MERCANTILE COMPANY PVT LTD B 200000 17.56
15/4/2010 532918 Rathi Bars SAINATH HERBAL CARE MARKETING P.LTD B 168208 17.49
15/4/2010 532918 Rathi Bars BP FINTRADE PRIVATE LIMITED B 182397 17.76
15/4/2010 532918 Rathi Bars TECKNOPOINT MERCANTILE COMPANY PVT LTD S 200000 17.76
15/4/2010 532918 Rathi Bars SAINATH HERBAL CARE MARKETING P.LTD S 368639 17.52
15/4/2010 532918 Rathi Bars BP FINTRADE PRIVATE LIMITED S 180293 17.76
15/4/2010 503162 Reliance Chem MEENA BANDI B 20956 34.09
15/4/2010 503162 Reliance Chem MEENA BANDI S 20956 34.98
15/4/2010 526927 Religare Technova LOGOS HOLDING COMPANY PRIVATE LIMITED B 4839538 85.20
15/4/2010 526927 Religare Technova GURKIRAT SINGH DHILLON S 2419769 86.08
15/4/2010 526927 Religare Technova GURPREET SINGH DHILLON S 2419769 84.31
15/4/2010 533083 RISHABHDEV CHIRAG SHASHIKANT TANNA B 297959 11.97
15/4/2010 533083 RISHABHDEV SAAKSHI SHARES PVT LTD B 440000 12.19
15/4/2010 533083 RISHABHDEV BHAVISH DHIRAJLAL KHAKHKHAR B 506430 12.20
15/4/2010 533083 RISHABHDEV CHIRAG SHASHIKANT TANNA S 297959 11.94
15/4/2010 533083 RISHABHDEV SAAKSHI SHARES PVT LTD S 225000 12.12
15/4/2010 533083 RISHABHDEV BHAVISH DHIRAJLAL KHAKHKHAR S 613759 11.89
15/4/2010 502448 Rollatainers W.LD. INVESTMENT PVT. LTD. S 199248 344.46
15/4/2010 533056 SARK SYS SWETA TIBREWALA S 50000 32.40
15/4/2010 533056 SARK SYS MVM SECURITIES PRIVATE LIMITED S 50000 32.28
15/4/2010 526510 Shakti Metdor VANITHA YERRAM B 21100 180.00
15/4/2010 531149 Shree Rang Mark NIMESH SANGHAVI B 25000 9.00
15/4/2010 531149 Shree Rang Mark WALL STREET CAPITAL MARKETS PVT LTD B 49900 9.00
15/4/2010 531149 Shree Rang Mark PUNNI SANGHAVI B 25000 9.00
15/4/2010 531149 Shree Rang Mark YOGESH S GAIKWAD S 50000 9.00
15/4/2010 531149 Shree Rang Mark BHAUSAHEB SUKDEO MOREY S 50000 9.00
15/4/2010 531645 Southern Ispat SANJEEV VINOD SHAH B 55650 23.85
15/4/2010 531645 Southern Ispat NEENA JAIN S 70000 23.45
15/4/2010 531645 Southern Ispat SANJEEV VINOD SHAH S 67952 23.63
15/4/2010 531373 Suave Hotels J V STOCK BROKING PRIVATE LIMITED B 100816 28.73
15/4/2010 531373 Suave Hotels J V STOCK BROKING PRIVATE LIMITED S 89339 28.80
15/4/2010 531373 Suave Hotels GOVIND PATODIA HUF S 89138 28.84
15/4/2010 526133 Supertex Inds HASMUKH NANDLAL DESAI B 611400 3.80
15/4/2010 533157 SYNCOM HEAL GENUINE STOCK BROKERS PVT. LTD. B 119683 83.10
15/4/2010 533157 SYNCOM HEAL GENUINE STOCK BROKERS PVT. LTD. S 119683 83.15
15/4/2010 532677 Vikash Metal ARCADIA SHARE & STOCK BROKERS PVT. LTD B 286310 21.42
15/4/2010 532677 Vikash Metal ARCADIA SHARE & STOCK BROKERS PVT. LTD S 190167 21.17
15/4/2010 531396 Women Networks RADIANT FINANCIAL SERVICES LIMITED B 16000 29.09
15/4/2010 532794 Zee News GENUINE STOCK BROKERS PVT. LTD. B 3061927 18.12
15/4/2010 532794 Zee News SMART EQUITY BROKERS PRIVATE LIMITED B 2607557 18.69
15/4/2010 532794 Zee News TRANSGLOBAL SECURITIES LTD. B 4674964 18.38
15/4/2010 532794 Zee News BLUE PEACOCK SECURITIES PVT LT B 2157130 19.10
15/4/2010 532794 Zee News OPG SECURITIES P LTD B 4081389 18.60
15/4/2010 532794 Zee News GENUINE STOCK BROKERS PVT. LTD. S 3061927 18.14
15/4/2010 532794 Zee News SMART EQUITY BROKERS PRIVATE LIMITED S 2607557 18.72
15/4/2010 532794 Zee News TRANSGLOBAL SECURITIES LTD. S 4668964 18.36
15/4/2010 532794 Zee News BLUE PEACOCK SECURITIES PVT LTD S 2007130 18.01
15/4/2010 532794 Zee News OPG SECURITIES P LTD S 4081389 18.65
* B - Buy, S - Sell
NSE Bulk Deals to Watch - Apr 15 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
15-APR-2010,AMAR,Amar Remedies Limited,MANISH VRAJLAL SARVAIYA,BUY,136183,68.47,-
15-APR-2010,AMRUTANJAN,Amrutajan Health Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,26085,891.23,-
15-APR-2010,AMRUTANJAN,Amrutajan Health Ltd,RANJIT KUMAR JAIN,BUY,28547,880.76,-
15-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,C D INTEGRATED SERVICES LTD.,BUY,120240,1245.86,-
15-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,CPR CAPITAL SERVICES LTD.,BUY,98566,1246.79,-
15-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,DINESH MUNJAL(HUF),BUY,87867,1253.08,-
15-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,102607,1239.94,-
15-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,BUY,85528,1248.94,-
15-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,141884,1248.75,-
15-APR-2010,ASHCO,Ashco Niulab Ind Ltd,PANDIT.ALPESH.JAYANTILAL,BUY,50000,1.30,-
15-APR-2010,BAGFILMS,B.A.G Films and Media Ltd,SAFFRON FINANCE LIMITED,BUY,3540459,21.52,-
15-APR-2010,EMMBI,Emmbi Polyarns Ltd,ANKITA VISHAL SHAH,BUY,120731,21.90,-
15-APR-2010,EMMBI,Emmbi Polyarns Ltd,JYOTI PORTFOLIO LIMITED,BUY,100411,21.52,-
15-APR-2010,EVINIX,Evinix Accessories Limite,HI-GROWTH CORPORATE SERVICES PVT. LTD.,BUY,648244,4.17,-
15-APR-2010,EVINIX,Evinix Accessories Limite,PINAC STOCK BROKERS PVT LTD,BUY,654520,4.00,-
15-APR-2010,EXCELINFO,Excel Infoways Limited,RAMAN KUMAR GULATI,BUY,149199,45.53,-
15-APR-2010,KAMATHOTEL,Kamat Hotels (I) Ltd,EMERGING INDIA FOCUS FUNDS,BUY,122387,109.06,-
15-APR-2010,KAMATHOTEL,Kamat Hotels (I) Ltd,RAHUL DOSHI,BUY,82783,110.37,-
15-APR-2010,LANCOIN,Lanco Industries Ltd,RAJEN CHANDRAKANT SHARE A/C,BUY,221137,74.37,-
15-APR-2010,NUCLEUS,Nucleus Software Exports,FIDELITY FUNDS TECHNOLOGY FUND,BUY,167325,169.36,-
15-APR-2010,NUCLEUS,Nucleus Software Exports,MANISH VRAJLAL SARVAIYA,BUY,174673,165.10,-
15-APR-2010,POCHIRAJU,Pochiraju Industries Limi,SHAH ASHOK CHINUBHAI,BUY,119276,23.76,-
15-APR-2010,PRIMESECU,Prime Securities Limited,MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED,BUY,158413,43.77,-
15-APR-2010,SYNCOM,Syncom Healthcare Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,105796,81.66,-
15-APR-2010,SYNCOM,Syncom Healthcare Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,111343,83.11,-
15-APR-2010,SYNCOM,Syncom Healthcare Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,96358,83.04,-
15-APR-2010,TELEDATAIT,Teledata Technology Solut,S V ENTERPRISES,BUY,4549279,3.36,-
15-APR-2010,ZEENEWS,Zee News Limited,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,1751558,18.55,-
15-APR-2010,ZEENEWS,Zee News Limited,BLUE PEACOCK SECURITIES PVT LT,BUY,2699092,19.04,-
15-APR-2010,ZEENEWS,Zee News Limited,CNB FINWIZ LIMITED,BUY,1329106,18.69,-
15-APR-2010,ZEENEWS,Zee News Limited,DEEPAK SHANTILAL CHHEDA,BUY,1213875,17.98,-
15-APR-2010,ZEENEWS,Zee News Limited,GENUINE STOCK BROKERS PVT LTD,BUY,2891505,18.13,-
15-APR-2010,ZEENEWS,Zee News Limited,GHALLA BHANSALI STOCK BROKERS PRIVATE LIMITED,BUY,1289318,18.43,-
15-APR-2010,ZEENEWS,Zee News Limited,HI-GROWTH CORPORATE SERVICES PVT. LTD.,BUY,3019500,18.45,-
15-APR-2010,ZEENEWS,Zee News Limited,KHANDWALA TRADELINK CO,BUY,1203890,18.38,-
15-APR-2010,ZEENEWS,Zee News Limited,LAXMI GOVIND KULKARNI,BUY,2031829,18.63,-
15-APR-2010,ZEENEWS,Zee News Limited,MADHAV STOCK VISION (P) LTD.,BUY,1237958,18.41,-
15-APR-2010,ZEENEWS,Zee News Limited,MANIPUT INVESTMENTS PVT. LTD.,BUY,1428112,18.56,-
15-APR-2010,ZEENEWS,Zee News Limited,OM INVESTMENTS,BUY,1220904,18.63,-
15-APR-2010,ZEENEWS,Zee News Limited,RISHABHKUMAR M JAIN HUF,BUY,1342136,18.14,-
15-APR-2010,ZEENEWS,Zee News Limited,SUSHIL FINANCIAL SERVICES PRIVATE LIMITED,BUY,1351862,17.88,-
15-APR-2010,ZEENEWS,Zee News Limited,TRANSGLOBAL SECURITIES LTD.,BUY,5560527,18.34,-
15-APR-2010,ZEENEWS,Zee News Limited,VASANTI SHARE BROKERS LIMITED,BUY,1566588,18.41,-
15-APR-2010,ZEENEWS,Zee News Limited,VRG SECURITIES PVT LTD,BUY,2340000,18.74,-
15-APR-2010,AMAR,Amar Remedies Limited,MANISH VRAJLAL SARVAIYA,SELL,136183,68.82,-
15-APR-2010,AMRUTANJAN,Amrutajan Health Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,26085,893.40,-
15-APR-2010,AMRUTANJAN,Amrutajan Health Ltd,RAMKRISHNA AGARWAL,SELL,103230,881.82,-
15-APR-2010,AMRUTANJAN,Amrutajan Health Ltd,RANJIT KUMAR JAIN,SELL,28547,885.84,-
15-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,C D INTEGRATED SERVICES LTD.,SELL,120240,1246.25,-
15-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,CPR CAPITAL SERVICES LTD.,SELL,98566,1246.18,-
15-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,DINESH MUNJAL(HUF),SELL,87867,1254.62,-
15-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,102607,1239.81,-
15-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,SELL,85528,1250.03,-
15-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MANIPUT INVESTMENTS PVT. LTD.,SELL,141884,1249.56,-
15-APR-2010,ASHCO,Ashco Niulab Ind Ltd,PANDIT.ALPESH.JAYANTILAL,SELL,1600000,1.27,-
15-APR-2010,BAGFILMS,B.A.G Films and Media Ltd,SAFFRON FINANCE LIMITED,SELL,3540459,22.05,-
15-APR-2010,EMMBI,Emmbi Polyarns Ltd,ANKITA VISHAL SHAH,SELL,120731,21.62,-
15-APR-2010,EMMBI,Emmbi Polyarns Ltd,JYOTI PORTFOLIO LIMITED,SELL,100411,21.95,-
15-APR-2010,EVINIX,Evinix Accessories Limite,HI-GROWTH CORPORATE SERVICES PVT. LTD.,SELL,611500,4.18,-
15-APR-2010,EVINIX,Evinix Accessories Limite,PINAC STOCK BROKERS PVT LTD,SELL,654520,4.14,-
15-APR-2010,EXCELINFO,Excel Infoways Limited,RAMAN KUMAR GULATI,SELL,14066,46.68,-
15-APR-2010,KAMATHOTEL,Kamat Hotels (I) Ltd,EQUITY INTELLIGENCE INDIA PRIVATE LIMITED,SELL,72000,110.80,-
15-APR-2010,KAMATHOTEL,Kamat Hotels (I) Ltd,RAHUL DOSHI,SELL,72450,110.80,-
15-APR-2010,LANCOIN,Lanco Industries Ltd,RAJEN CHANDRAKANT SHARE A/C,SELL,156409,74.09,-
15-APR-2010,MANGLMCEM,Mangalam Cement Ltd,BIRLA SUN LIFE INSURANCE COMPANY LIMITED,SELL,151000,205.41,-
15-APR-2010,NUCLEUS,Nucleus Software Exports,MANISH VRAJLAL SARVAIYA,SELL,174673,166.97,-
15-APR-2010,POCHIRAJU,Pochiraju Industries Limi,SHAH ASHOK CHINUBHAI,SELL,46017,24.32,-
15-APR-2010,PRIMESECU,Prime Securities Limited,MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED,SELL,86426,45.30,-
15-APR-2010,RAMANEWS,Rama Newsprint and Papers,PRISM IMPEX PVT LTD,SELL,547646,22.59,-
15-APR-2010,SRHHLINDST,SRHHL Industries Limited,HANSABEN HASMUKHBHAI AMIN,SELL,110100,4.15,-
15-APR-2010,SYNCOM,Syncom Healthcare Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,105796,82.04,-
15-APR-2010,SYNCOM,Syncom Healthcare Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,111343,83.20,-
15-APR-2010,SYNCOM,Syncom Healthcare Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,96358,83.16,-
15-APR-2010,TELEDATAIT,Teledata Technology Solut,S V ENTERPRISES,SELL,4242700,3.40,-
15-APR-2010,ZEENEWS,Zee News Limited,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,1741058,18.57,-
15-APR-2010,ZEENEWS,Zee News Limited,BLUE PEACOCK SECURITIES PVT LT,SELL,2699092,17.83,-
15-APR-2010,ZEENEWS,Zee News Limited,CNB FINWIZ LIMITED,SELL,1329106,18.70,-
15-APR-2010,ZEENEWS,Zee News Limited,DEEPAK SHANTILAL CHHEDA,SELL,1213875,18.00,-
15-APR-2010,ZEENEWS,Zee News Limited,DEUTSCHE SECURITIES MAURITIUS LTD.,SELL,1750000,18.32,-
15-APR-2010,ZEENEWS,Zee News Limited,GENUINE STOCK BROKERS PVT LTD,SELL,2891505,18.16,-
15-APR-2010,ZEENEWS,Zee News Limited,GHALLA BHANSALI STOCK BROKERS PRIVATE LIMITED,SELL,1289318,18.45,-
15-APR-2010,ZEENEWS,Zee News Limited,HI-GROWTH CORPORATE SERVICES PVT. LTD.,SELL,3015000,18.45,-
15-APR-2010,ZEENEWS,Zee News Limited,KHANDWALA TRADELINK CO,SELL,1193890,18.36,-
15-APR-2010,ZEENEWS,Zee News Limited,LAXMI GOVIND KULKARNI,SELL,2031829,18.31,-
15-APR-2010,ZEENEWS,Zee News Limited,MADHAV STOCK VISION (P) LTD.,SELL,1237958,18.45,-
15-APR-2010,ZEENEWS,Zee News Limited,MANIPUT INVESTMENTS PVT. LTD.,SELL,1428112,18.62,-
15-APR-2010,ZEENEWS,Zee News Limited,OM INVESTMENTS,SELL,1220904,18.66,-
15-APR-2010,ZEENEWS,Zee News Limited,RBS FINANCIAL SERVICES (INDIA) PRIVATE LIMITED,SELL,1414800,19.41,-
15-APR-2010,ZEENEWS,Zee News Limited,RISHABHKUMAR M JAIN HUF,SELL,1342136,18.15,-
15-APR-2010,ZEENEWS,Zee News Limited,SUSHIL FINANCIAL SERVICES PRIVATE LIMITED,SELL,1351862,17.89,-
15-APR-2010,ZEENEWS,Zee News Limited,TRANSGLOBAL SECURITIES LTD.,SELL,5560527,18.38,-
15-APR-2010,ZEENEWS,Zee News Limited,VASANTI SHARE BROKERS LIMITED,SELL,1566808,18.46,-
15-APR-2010,ZEENEWS,Zee News Limited,VRG SECURITIES PVT LTD,SELL,2340000,18.19,-
Bears get overbearing
Today's major news
IPO norms for insurers finalised by IRDA
Food inflation softens to 17.22%
Inflation rises to 9.9% in March
Click here for more stories
Global signals
European stocks were trading marginally lower on Thursday as mining shares fell after copper price fall. At the time writing of this report, FTSE 100 (London) was trading 0.08% lower.
All the major Asian indices closed in the positive territory on Thursday, except Shanghai Composite (China) and Straits Times (Singapore) that closed marginally lower. SGX Nifty closed 48 points lower.
US stock futures point to a weak start for the Wall Street on Thursday as investors keep an eye on UPS after the company said that its first-quarter earnings per share would be much higher than it had expected and raising its outlook for the year.
Indian indices
Shrugging aside buoyant global equities, robust economic growth readings out of China and easing inflation back home, Indian indices slipped for the third straight day. The dip was on the back of fresh skirmishes on turf battle between the securities and exchange board of India (SEBI) and insurance regulatory and development authority (IRDA), fall in financial stocks ahead of the Reserve Bank of India (RBI)’s quarterly monetary policy review scheduled on April 20, 2010 and continued selling in Sensex heavyweights Reliance Industries and ICICI Bank.
The Sensex that opened 17 points lower (at 17804) but soon turned positive to touch the day’s high of 17975 and traded in the positive territory till the noon trade. However, at noon the Sensex made an about turn to negative as selling intensified in Sensex heavyweight Reliance Industries that dragged the Sensex lower to hit the day’s low of 17619, before closing at 17639, 183 points lower while Nifty shut at 5274, 49 points down.
India's food price index rose to 17.22% in the 12 months to April 3, 2010 while the fuel index was up 12.43%. The rise in the food price index was slightly lower than an annual rise of 17.70% in the previous week. The wholesale price index (WPI), on the other hand rose an annual 9.90% in March, the fastest pace in 17 months, driven by higher food and fuel prices.
Market sentiment
Declining shares outnumbered gaining ones for the second straight session. Of the 2,999 stocks traded on the BSE, 1,708 (57%) stocks declined, whereas 1,222 (41%) stocks advanced. Sixty nine stocks remained unchanged.
Sectoral & stock screening
Of the 13 sectoral indices in the BSE, eight were battered. Among the major losers, BSE Oil & Gas lost 1.83%, the BSE Bankex dropped 1.42%, BSE Capital Goods shed 1.40%, BSE FMCG declined by 1.15%. Bucking the downtrend, BSE Realty gained 1.59%, BSE Consumer Durables advanced 0.69% and BSE Health Care up 0.68%.
On the gainers’ list, Apollo Hospital surged the most by 5.78%, followed by JP Hydro power, which rose 4.31%, and Unitech that jumped 3.41%. On the losers’ list, Max India topped the losers’ chart, with a loss of 9.39%, followed by Aditya Birla Nuvo, which slid by 4.67%, and LIC Housing Finance, which fell by 4.49%.
Viewing volumes
India’s second largest realty major Unitech was the most actively traded share with over 1.17 crore shares changing hands on the BSE, followed by Industrial finance company IFCI (0.37 crore shares), steel maker Ispat Industries (0.36 crore shares), wind turbine major Suzlon Energy (0.34 crore shares) and Reliance Natural Resources (0.29 crore shares).
Sensex slides to two-week low
Profit booking in some large-cap stocks dragged the key indices to the lowest level in two weeks. The market fell for the third consecutive session as European stocks turned negative and US index futures edged lower. Front line stocks bore the major brunt of selling with mid and small-cap indices on BSE falling to a smaller extent.
The BSE 30-share Sensex fell 182.70 points or 1.03%, off close to 336 points from the day's high. Banking, capital goods and FMCG stocks declined. Index heavyweight Reliance Industries slipped more than 2%. But realty and healthcare stocks rose. The market breadth turned weak from strong breadth earlier in the day.
The market trimmed gains in morning trade after a strong start triggered by firm Asian equities. The market further pared gains in mid-morning trade. The market was range bound later. Profit booking in index heavyweights dragged the market in negative territory in afternoon trade. The market extended losses to hit fresh intraday lows in mid-afternoon trade. The market slumped in late trade.
The fourth quarter earnings of India Inc are major near term trigger for the market. This is because the Q4 March 2010 results and management commentary on outlook could result in revision in earnings estimates of India Inc by analysts for the year ending March 2011 (FY 2011).
Expectations of good fourth quarter result by India Inc and heavy foreign fund inflows boosted the domestic bourses in the past few weeks with the key benchmark indices surging to their highest level in more than 25 months on 7 April 2010.
It remains to be seen if and to what extent the recent controversy with regard to unit linked insurance plans (Ulips) negatively impacts inflows into Ulips which are a major source of inflows into equities. The stock market regulator Securities & Exchange (Sebi) has clarified that 14 private insurance companies will be required to take Sebi's prior approval for launch of new (Ulips). It has said that insurers can continue selling existing Ulip schemes which were in force as on 9 April 2010. Ulips are products similar to mutual funds with an added life cover. A large chunk of funds raised through Ulips are invested in equities.
It may be recalled that the finance ministry had to intervene, early this week, to resolve a tussle between Sebi and insurance regulator Insurance Regulatory and Development Authority of India (Irda) on oversight of Ulips after Sebi late last week barred 14 insurance firms from selling Ulips without its approval. Soon after the Sebi order Irda directed the 14 insurers to ignore the Sebi order saying that the implementation of the Sebi directive will bring the insurance industry to a standstill which would not be in public interest and would be detrimental to the interests of the policyholders and prejudicial to the interests of the insurers.
Following intervention from the government the two regulators had, early this week, decided to maintain a status quo on unit linked insurance plans or Ulips, keeping in abeyance the orders issued by both recently. The government had also reportedly asked the two regulators to seek a legal mandate from a court on oversight of Ulips.
According to IRDA, a total of 16.7 lakh Ulip policies, with a premium of Rs 44611 crore, were sold from 1 April 2009 to 28 February 2010. A total of 7.03 crore Ulip polices involving a total premium of Rs 90645 crore were in force in 2008-09.
Meanwhile, Sebi has tightened disclosure norms for foreign institutional investors (FIIs) and sub-accounts with regard to the investment structure in India. The norms are applicable for new registrations from 7 April 2010. Existing FIIs and sub-accounts can provide the additional information by 30 September 2010.
These foreign investors will now have to disclose to the regulator whether they are a multi class vehicle (MCVs), segregated portfolio company (SPC) or a protected cell company (PCCs) and whether they maintain segregated or a common portfolio.
On the macro front, the latest data showed that inflation rose less-than-expected in March 2010. The wholesale price inflation (WPI) rose 9.9% in March 2010, a tad higher than a 9.89% rise in February 2010, the latest government data showed. The headline inflation for January 2010 was revised upwards to 9.44% from 8.56%
The government also announced that the primary articles price index rose 13.88% in the year to 3 April 2010. The fuel price index rose 12.43% and the food price index rose 17.22% in the year to 3 April 2010.
Rising inflation remains a key cause for concern. A sharp surge in interest rates may adversely impact private investment demand as well as the proposed large scale investment in infrastructure sector. Investors have already priced a 25-basis point rate rise at the Reserve Bank of India's policy review on 20 April 2010. Last month, the RBI raised the repo rate and the reverse repo rate, at which it absorbs excess cash from the banking system, by 25 basis points each.
Data on Monday, 12 April 2010, showed the industrial output rose 15.1% in February from a year earlier, less than a rise of 16.7% in January.
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, had said on 18 March 2010.
European shares moved between positive and negative zone. The key indices in France and UK rose by 0.05% and 0.14% respectively. Germany's Dax was down 0.02%.
Meanwhile, ash clouds from Iceland's spewing volcano have disrupted air traffic across Northern Europe as airports including Europe's busiest terminal at Heathrow shut down and airlines canceled hundreds of flights.
Asian stocks rose on Thursday as China's economic growth accelerated and bellwether US tech and financial firms reported strong results, boosting appetite for riskier assets. The key benchmark indices in South Korea, Hong Kong, Indonesia, Japan and Taiwan were up by between 0.16% to 0.92%.
But China's Shanghai Composite fell 0.04% and Singapore's Straits Times fell 0.09%. The latest data showed that China's economic growth accelerated to the fastest pace in almost three years in the first quarter. Gross domestic product rose 11.9% in Q1 March 2010, data showed today. The data also showed that China's consumer prices rose a less-than-estimated 2.4% in March from a year earlier.
Trading in US index futures indicated that the Dow could fall 18 points at the opening bell on Thursday, 15 April 2010.
US stocks rallied for a fifth straight session to a new 18 month high on Wednesday, 14 April 2010, after some strong earnings from major industry players and encouraging consumer spending data. The S&P 500 crossed 1,200 for the first time since September 2008. Intel and JP Morgan were the key Dow gainers after both beat earnings expectations. The Dow Jones Industrial Average rose 103.69 points or 0.94% to 11,123.11. The Nasdaq rose 38.87 points or 1.58% to 2504.86 and the S&P 500 rose 13.35 points or 1.12% to 1210.65.
A moderate US economic recovery is likely to warrant very low interest rates for a long time, Federal Reserve Chairman Ben Bernanke said on Wednesday.
Back home, the BSE 30-share Sensex fell 182.70 points or 1.03% to 17,639.26. The index fell 202.94 points at the day's low of 17,619.02 in late trade. The Sensex rose 153.61 points at the day's high of 17,975.57 in early trade.
The Sensex has declined 293.88 points or 1.63% in three sessions from a recent high of 17,933.14 on 9 April 2010.
The S&P CNX Nifty was down 49.35 points or 0.93% to 5273.60.
BSE clocked turnover of 4815 crore, higher than Rs 4568.52 crore on Tuesday, 13 April 2010.
The BSE Mid-Cap index fell 0.21% and the BSE Small-Cap index fell 0.58%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, turned weak. The breadth was strong earlier in the day. On BSE, 1,222 shares advanced as compared with 1,708 that declined. A total of 69 shares remained unchanged.
Most sectoral indices on BSE declined. The BSE Oil & Gas index (down 1.83%), Bankex (down 1.42%), Capital Goods index (down 1.40%) and FMCG index (down 1.15%), underperformed the Sensex,
Realty index (up 1.59%), Consumer Durables index (up 0.69%), Healthcare index (up 0.68%), IT index (up 0.40%), Teck index (up 0.20%), Auto index (down 0.25%), Metal index (down 0.27%), PSU index (down 0.62%) and Power index (down 0.69%), outperformed the Sensex.
Among the 30-member Sensex pack, 19 fell while rest rose.
Index heavyweight Reliance Industries (RIL) fell 2.72% to Rs 1090.25 on profit taking. The stock came off the day's high of Rs 1132.50. Global agency Standard & Poor's Ratings Services said on Tuesday that it had revised its outlook on Reliance Industries to stable from negative. The stable outlook reflects RIL's strong competitive position and S&P's expectation that the company will maintain its financial risk profile.
RIL on Friday, 9 April 2010, said the company will pay $1.7 billion to form a joint venture at one of the most promising natural gas deposit regions in the US with Atlas Energy, becoming the latest foreign company to invest in shale plays that are expected to be very lucrative. The firm will pick up a 40% stake in Atlas's operations in the booming Marcellus Shale, a gas project that spans parts of Pennsylvania, West Virginia and New York in the United States and which, according to some geologists, could hold enough natural gas to satisfy US demand for a decade.
India's largest commercial vehicle maker by sales Tata Motors rose 0.14% after company said on Thursday its global vehicle sales rose 39% to 101,712 units in March 2010 over March 2009. This includes sales of UK-based Jaguar and land Rover brands that rose 43% to 23,538 vehicles in March 2010 over March 2009
India's second largest software exporter by sales Infosys Technologies hit a record high of Rs 2,823.80 on BSE. The stock closed 0.69% higher at Rs 2,801.55, extending Tuesday's rally triggered by a strong revenue guidance in dollar terms for financial year ending March 2011 (FY 2011). The stock had jumped 3.69% on Tuesday, 13 April 2010, after the IT bellwether issued a stronger guidance in dollar terms, projecting a 16% to 18% growth in revenue at between at between $5.57 billion to $5.67 billion for the current year.
Realty stocks rose on renewed buying. Parsvnath Developers, Sobha Developers, Unitech, Phoenix Mills, Anant Raj Industries, Omaxe, Orbit Corporation, Ackruti City and DLF rose by 0.82% to 6.55%.
Healthcare stocks rose on expectations of good Q4 March 2010 results. Dr Reddy's Laboratories, Piramal Healthcare, Divi's Laboratories, Glaxosmithkline Pharmaceuticals, Lupin, Pfizer, Sun Pharmaceutical Industries and Glenmark Pharmaceuticals rose by 0.35% to 3.35%.
FMCG stocks fell on profit taking. United Spirtis, ITC, Tata Tea, Britannia Industries, and United Breweries fell by 0.25% to 3.93%
Capital goods pivotals also fell on profit taking. India's largest engineering and construction firm by sales Larsen & Toubro (L&T) fell 1.87%, with the scrip sliding for the second straight day. The company, last week, received an order worth Rs 1,060 crore from Gujarat State Petroleum Corporation (GSPC) to build an offshore oil platform.
India's top power equipment maker by sales Bharat Heavy Electricals (Bhel) lost 1.15%, reversing early gains. The stock had hit a 52-week high of Rs 2,585 on Monday, 12 April 2010.
Among other capital goods stocks, Havells India, Crompton Greaves, Bharat Electronics, Punj Lloyd, Alstom Projects Elecon Engineering Company, ABB, Siemens and Suzlon Energy, fell by 0.62% to 2.88%
Areva T&D rose 0.28% after company won orders worth Rs 63 crore.
Banking stocks fell on an impending rate hike by the central bank at its monetary policy review on 20 April 2010. India's largest private sector bank by net profit ICICI Bank fell 2.55%, with the stock sliding for the third straight day.
India's largest bank by net profit and branch network State Bank of India fell 1.84%. Chairman O.P. Bhatt said recently that 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 second largest private sector bank by net profit HDFC Bank rose 0.27%, with the stock gaining for the second straight day.
India's largest mortgage finance firm by total income Housing Development Finance Corporation fell 1.83%, with the scrip falling for the third straight day.
The Reserve Bank of India said late last week banks would determine their lending rates with reference to the base rate, effective 1 July 2010. To stabilise the system of base rate calculation, banks are allowed to change the benchmark and methodology anytime
Firstsource Solutions jumped 2.87% on reports US private-equity firm Kohlberg Kravis Roberts & Company is looking to buy a controlling stake in the Mumbai-based business process outsourcing firm.
ARSS Infrastructure Projects clocked a highest turnover of Rs 325.18 crore on BSE. Reliance Industries (Rs 139.67 crore), Zee News (Rs 123.11 crore), Infosys Technologies (Rs 116.97 crore) and Unitech (Rs 94.98 crore), were the other turnover toppers on BSE.
Zee News reported a highest volume of 6.70 crore shares on BSE. Cals Refineries (3.88 crore shares), Unitech (1.17 crore shares), Birla Power Solutions (98.94 lakh shares) and BAG Films & Media (86.73 lakh shares), were the other volume toppers on BSE.
Earning reports pull US stocks higher
Intel and JP Morgan Chase give good lift to the Dow
Strong earning reports from a couple of key industry players and some strong economic data helped US stocks move up and end higher for the fifth straight session to a new 18-month high on Wednesday, 14 April, 2010. The earning reports mainly came from the technology and banking industry.
At the end of the day on Wednesday, the Dow Jones Industrial Average ended higher by 103.69 points at 11123.39. Nasdaq ended higher by 38.87 points at 2504.86. S&P 500 ended higher by 13.35 points at 1210.65.
Seven of ten economic sectors ended higher for the day led by technology, financial and consumer discretionary sectors. Healthcare and telecom sectors ended in the red. Intel and JP Morgan Chase were the main Dow winners.
Among the widely anticipated earning reports, Intel announced that it brought in $0.43 per share on $10.3 billion in revenue to exceed Wall Street's consensus estimate. Intel even issued a strong forecast for its second fiscal quarter. On the other hand, in the financial sector, shares of JPM Chase were propelled to their best single-session percentage gain in six months after the company beat the consensus forecast with first quarter earnings of $0.74 per share and revenue of $28.2 billion. Bank of America is next in line as the company will report its earning on Friday morning.
Among economic data for the day, the Commerce Department in US reported on Wednesday, 14 April 2010 that U.S. retail sales rose a better-than-expected 1.6% in March, spurred by fresh demand for autos, building materials and new spring clothes. Sales totaled $363.2 billion - the fifth gain in six months. Excluding autos and trucks, sales climbed 0.6% to $300.5 billion.
Also, the Labor Department in US reported on Wednesday, 14 April 2010 that U.S. consumer prices rose 0.1% on a seasonally adjusted basis due mainly to increased costs for fresh fruits and vegetables. The government's core consumer price index, measuring the rate of retail-level inflation after excluding food and energy, was unchanged in March. Separately, February business inventories increased a slightly stronger-than-expected 0.5%.
Crude oil prices ended its losing streak and ended higher on Wednesday, 14 April 2010. Prices went up as energy department reported unexpected drop in crude inventories for last week. Market had anticipated that the weekly inventory report would show substantial rise in crude inventories. The lower dollar also aided in rising crude price.
On Wednesday, crude-oil futures for light sweet crude for May delivery closed at $86.73/barrel (higher by $1.62 or 1.9%). Prices had dropped in last five sessions. Last week, crude ended higher by just 0.6%. 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 7.7%.
The EIA reported today an unexpected decrease in crude stockpiles for week ended 9 April. The EIA data showed supplies decreased by 2.2 million barrels in the week. The EIA's latest weekly data also showed total motor gasoline inventories decreased by 1.1 million barrels, while distillates, which include heating oil and diesel, increased by 1.1 million barrels.
Market was expecting weekly inventory report to show that crude stockpiles will increase by 1.6 million barrels, while gasoline stocks will be down by 1.26 million barrels for last week. Distillates stocks, which include heating oil and diesel, were expected to be up by 1 million barrels.
In the latest monthly report, the Organization of the Petroleum Exporting Countries on Wednesday left unchanged its forecast for global oil demand in 2010. Consumption is projected to increase by 900,000 barrels a day this year, the oil cartel said in its monthly report.
Fed Chairman Bernanke offered a testimony to the Joint Economic Committee today. Bernanke said he is particularly concerned about the fact that in March 44% of the unemployed had been without a job for six months or more, but offered no new position on Fed thinking.
For every stock declining, more than three posted gains on the New York Stock Exchange, where more than 1.1 billion shares changed hands. Composite volume topped 5.9 billion.
Barring Infosys, all Indian ADRs ended with strong gains on Wednesday. Tata Motors and Wipro Tech were the main winners soaring 2.6% each.
Tomorrow morning, three economic reports are scheduled to be released before the open. They are initial claims, continuing claims and empire manufacturing index. Other than that, earning reports will continue to dominate.
Crude ends losing streak
Prices rise as report shows unexpected drop in crude inventories
Crude oil prices ended its losing streak and ended higher on Wednesday, 14 April 2010. Prices went up as energy department reported unexpected drop in crude inventories for last week. Market had anticipated that the weekly inventory report would show substantial rise in crude inventories. The lower dollar also aided in rising crude price.
On Wednesday, crude-oil futures for light sweet crude for May delivery closed at $86.73/barrel (higher by $1.62 or 1.9%). Prices had dropped in last five sessions. Last week, crude ended higher by just 0.6%. 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 7.7%.
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 155% from a December 2008 nadir. That day prices settled at $33.87 a barrel following an intraday low of $32.40.
The EIA reported today an unexpected decrease in crude stockpiles for week ended 9 April. The EIA data showed supplies decreased by 2.2 million barrels in the week. The EIA's latest weekly data also showed total motor gasoline inventories decreased by 1.1 million barrels, while distillates, which include heating oil and diesel, increased by 1.1 million barrels.
Market was expecting weekly inventory report to show that crude stockpiles will increase by 1.6 million barrels, while gasoline stocks will be down by 1.26 million barrels for last week. Distillates stocks, which include heating oil and diesel, were expected to be up by 1 million barrels.
In the latest monthly report, the Organization of the Petroleum Exporting Countries on Wednesday left unchanged its forecast for global oil demand in 2010. Consumption is projected to increase by 900,000 barrels a day this year, the oil cartel said in its monthly report.
In the currency market on Wednesday, the dollar index, which measures the strength of the dollar against basket of six other currencies fell by 0.4%. The dollar index gained about 0.7% in March and rallied 4% during the first quarter. The dollar index has gained 4.1% this year till date. The U.S. currency gave ground, as investors were eager to embrace risk again, helped by upbeat earnings reports from Intel and J.P. Morgan Chase that boosted sentiment on Wall Street.
Among economic reports for the day, the Commerce Department in US reported on Wednesday, 14 April 2010 that U.S. retail sales rose a better-than-expected 1.6% in March, spurred by fresh demand for autos, building materials and new spring clothes. Sales totaled $363.2 billion - the fifth gain in six months. Excluding autos and trucks, sales climbed 0.6% to $300.5 billion.
Also, the Labor Department in US reported on Wednesday, 14 April 2010 that U.S. consumer prices rose 0.1% on a seasonally adjusted basis due mainly to increased costs for fresh fruits and vegetables. The government's core consumer price index, measuring the rate of retail-level inflation after excluding food and energy, was unchanged in March.
Elsewhere, natural gas for May delivery rose 3.9 cents, or 0.9%, to settle at $4.199 per million British thermal units on the New York Mercantile Exchange. Prices have risen 14% from a year ago.
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 71 (1.9%) at Rs 3,809/barrel. Natural gas for April delivery closed at Rs 187.7/mmbtu, higher by Rs 4.1 (2.23%).
Market may snap last two days losses on firm global stocks
The market may snap last two days' losses on firm global stocks which rose on the back of strong first quarter Chinese GDP growth and good earnings reports from US firms. Expectations of a normal monsoon this year may also support domestic bourses. The government will announce the inflation data for the month of March 2010 today, 15 April 2010. Inflation is expected to have risen more than 10% for the month. The headline inflation rose 9.89% in February 2010.
Asian stocks rose on Thursday driving the MSCI Asia Pacific Index to a 20-month high on China's strong first quarter GDP figures and as better than expected US earnings reports from JPMorgan Chase & Co. to United Parcel Service Inc. bolstered confidence in the global economy. The key benchmark indices in Hong Kong, Indonesia, Japan, South Korea, Singapore and Taiwan were up by between 0.3% to 0.89%.
China's Shanghai Composite rose 0.36% after China's economic growth accelerated to the fastest pace in almost three years in the first quarter. Gross domestic product rose 11.9% in Q1 March 2010, data showed today. The data also showed that China's consumer prices rose a less-than-estimated 2.4% in March from a year earlier.
US stocks rallied for a fifth straight session to a new 18 month high on Wednesday, 14 April 2010, after some strong earnings from major industry players and encouraging consumer spending data. The S&P 500 crossed 1,200 for the first time since September 2008. Intel and JP Morgan were the key Dow gainers after both beat earnings expectations. The Dow Jones Industrial Average rose 103.69 points or 0.94% to 11,123.11. The Nasdaq rose 38.87 points or 1.58% to 2504.86 and the S&P 500 rose 13.35 points or 1.12% to 1210.65.
A moderate US economic recovery is likely to warrant very low interest rates for a long time, Federal Reserve Chairman Ben Bernanke said on Wednesday.
Back home, the fourth quarter earnings of India Inc are major near term trigger for the market. This is because the Q4 March 2010 results and management commentary on outlook could result in revision in earnings estimates of India Inc by analysts for the year ending March 2011 (FY 2011).
Expectations of good fourth quarter result by India Inc and heavy foreign fund inflows boosted the domestic bourses in the past few weeks with the key benchmark indices surging to their highest level in more than 25 months on 7 April 2010.
The data on Monday, 12 April 2010 showed that industrial output rose 15.1% in February from a year earlier, less than a rise of 16.7% in January.
The changes in the proposed food security bill will not lead to India breaching its 2010/11 fiscal deficit of 5.5% Montek Singh Ahluwalia, the deputy chairman of the Planning Commission, said on Tuesday. The headline inflation will be in the 5-6% range by the end of this fiscal year, he said.
Investors have already priced a 25-basis point rate rise at the Reserve Bank of India's policy review on 20 April 2010. Last month, the RBI raised the repo rate and the reverse repo rate, at which it absorbs excess cash from the banking system, by 25 basis points each.
It remains to be seen if and to what extent the recent controversy with regard to unit linked insurance plans (Ulips) negatively impacts inflows into Ulips which are a major source of inflows into equities. The stock market regulator Securities & Exchange (Sebi) has clarified that 14 private insurance companies will be required to take Sebi's prior approval for launch of new (Ulips). It has said that insurers can continue selling existing Ulip schemes which were in force as on 9 April 2010. Ulips are products similar to mutual funds with an added life cover. A large chunk of funds raised through Ulips are invested in equities.
It may be recalled that the finance ministry had to intervene, early this week, to resolve a tussle between Sebi and insurance regulator Insurance Regulatory and Development Authority of India (Irda) on oversight of Ulips after Sebi late last week barred 14 insurance firms from selling Ulips without its approval. Soon after the Sebi order Irda directed the 14 insurers to ignore the Sebi order saying that the implementation of the Sebi directive will bring the insurance industry to a standstill which would not be in public interest and would be detrimental to the interests of the policyholders and prejudicial to the interests of the insurers.
Following intervention from the government the two regulators had, early this week, decided to maintain a status quo on unit linkedinsurance plans or Ulips, keeping in abeyance the orders issued by both recently. The government had also reportedly asked the two regulators to seek a legal mandate from a court on oversight of Ulips.
According to IRDA, a total of 16.7 lakh Ulip policies, with a premium of Rs 44611 crore, were sold from 1 April 2009 to 28 February 2010. A total of 7.03 crore Ulip polices involving a total premium of Rs 90645 crore were in force in 2008-09.
The forecast for the southwest monsoon for 2010 is another major trigger for the stock 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, had said on 18 March 2010.
The key benchmark indices registered small losses on Tuesday, 13 April 2010 tracking weak global stocks as the market fell for the second straight day. The BSE 30-share Sensex fell 31.04 points or 0.17% to 17,821.96 on that day.
As per provisional figures on NSE, foreign funds bought shares worth Rs 128.52 crore and domestic funds bought shares worth Rs 252.87 crore on Tuesday.
The stock market was closed on Wednesday, 14 April 2010, on account of Dr Babasaheb Ambedkar Jayanti.
Grey Market Premiums - Apr 15 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Goenka Diamond & Jewellery | 135 | Discount |
Puravankara Projects
Puravankara Projects has not done much over the last five months and has meandered sideways in the range between Rs 82 and Rs 126. This band would however have provided ample opportunity for swing traders to make money. The series of higher troughs recorded in this period is also heartening. Key short-term resistance for this stock was at Rs 112 and the stock managed to record a close beyond this mark on Tuesday. It is also currently trading firmly above both 200 and 50-day moving averages. Oscillators in the daily chart are all positioned in the bullish zone. The 14-day relative strength index is at 66, that indicates a positive outlook for the near-term. Daily moving average convergence divergence oscillator as well as the 10-day rate of change oscillator is also signalling a buy. Medium-term trend in this stock is also positive and contracting price range seen over the last two months implies that a break-out is imminent.
Investors with a short-term trading perspective can buy this stock with the price target of Rs 125 and the stop-loss of Rs 108.
via BL
Stocks to open higher
Headlines for the day:
Solar power scheme draws Rs2.29-lakh crore proposals
Mahindra bets big on US
Patni bags US air transport body deal
Events for the day:
Major corporate action
Monthly and weekly inflation to be announced today
Ex-date for dividend of Pfizer, KSB Pumps, Ineos Abs
Results: Castrol India, CMC
For more events, log on to Sharekhan.com
Pre-market report
Global signals
The European stocks hit an 18-month closing high on Wednesday, as forecast-beating results from JPMorgan and Intel and solid US retail sales brightened the prospect for economic recovery.
The US stocks notched a fifth straight day of gains on Wednesday as stronger-than-expected corporate results and March retail sales pushed the S&P 500 past 1,200 for the first time in 18 months.
In today's trade, the Asian markets were trading on a positive note, except Shanghai Compostie. At the time of writing this report, SGX Nifty was trading 49.5 points higher.
Indian markets
After having a holiday yesterday (April 14, 2010) due to Dr. B.R. Ambedkar Jayanti, the market is likely to open strong following the strong and positive global cues that are coming from the global markets. However, we could see profit bookings at the higher levels as the case we have seen in the last one-month, which may result in volatility. The rupee is still appreciating, which may have a negative impact on the IT stocks. An interesting fact is that, since the post budget the foreign institutional investors (FIIs) have been the net buyers in the Indian stocks, while the domestic institutional investors (DIIs) have been the net sellers, which shows the confidence of the FIIs in the Indian markets. The RBI will be closely watching the announcement of monthly and weekly inflation data, which may decide the RBI's action on the interest rate hike on the upcoming monetary policy to be held on April 20, 2010.
Commodity cues
In the commodity space, the crude oil prices reported gains after the five consecutive session of losses, with the Nymex light crude oil for the May series rose by $1.79 per barrel, whereas in the metals space, the Comex Gold for the May series rose by $6.20 and the Comex Silver for the May series was up by $0.16 to a troy ounce respectively.
Daily trend of FII/MF investment in equities
On April 13, 2010, the FIIs were the net buyers of the Indian stocks to the tune of Rs244.50 crore, whereas the domestic mutual funds, on April 09, 2010, were the net sellers of the stocks to the tune of Rs257.90 crore.
Daily News Roundup - Apr 15 2010
Infosys will offer up to 17% salary hikes for over 100,000 employees this year, as the company seeks to retain staff and also attract new recruits in the year. (ET)
Tata Steel asked a member of British Parliament not to be "over-critical" about the company’s strategy in dealing with problems in Corus. (BS)
ONGC to challenge the government’s decision to withdraw the seven year tax holiday on production of natural gas. (ET)
Infosys has bagged an order worth US$150mn order from Microsoft. (BS)
Tata Sons is taking a book building to sell its Tata Motors DVR shares. (ET)
Cairn Mangala field to hit peak output in 2010. (BS)
Ranbaxy to recall two consignments of one of its antibiotics from the US market. (ET)
The province of Moselle in France said Tata Motors should explore setting up a manufacturing unit for Nano in the region as it could facilitate the company’s plans to launch the world’s cheapest car in Europe by 2011. (BS)
Bajaj Auto, which is planning launch four-wheelers in both passenger and commercial vehicle segment in 2012, will use the Renault platform for their production. (ET)
Bajaj Auto’s four-wheeler project, a JV with Nissan and Renault, at Chakan in Pune seems to have hit a roadblock, as the company has not been able to acquire enough land. (BS)
ACC said prices of the building material need to rise by at least 20%, if the company has to complete its expansion plans for the next two years. (ET)
Four out of the five subsidiaries of ACC incurred losses in operations in 2009. (BS)
M&M group may foray into banking through its NBFC arm Mahindra Finance. (FE)
HDFC plans to raise up to Rs250bn through non-convertible debentures in the current financial year through private placements. (BS)
DLF group has bagged carbon credits worth Rs400mn for reducing emission of greenhouse gasses. (ET)
RBI may relax exposure norms for state-run power sector lenders such as REC and PFC to ensure healthy flow of funds to cash-starved projects. (ET)
ABB bags an order worth Rs630bn from Haryana Vidyut Prasaran Nigam Limited. (BS)
Strides Arcolab gets USFDA approval for anti-nausea drug. (BS)
HCC bagged a contract worth Rs6.1bn from the Director General of Naval Projects to develop a dry dock and associated north and south wharves at the Naval Dockyard in Mumbai. (BL)
Punjab National Bank ruled out any increase in interest rates in the near future saying there is enough liquidity in the system. (ET)
The Environment Minister indicated to Adani Power that it would not approve the company’s proposal for drawing water from the Pench Tiger reserve for its project in Madhya Pradesh. (BS)
United Spirits is looking at various options to continue its bulk supply of scotch from the stables of Whyte & Mackay, which USL acquired during mid-2007 in a US$1.7bn deal. (BS)
Dewan Housing Finance plans to raise up to Rs500bn in the current fiscal to support its expansion plans besides meeting the capital adequacy needs. (ET)
Dewan Housing Finance plans to launch a finance JV focused on low-income housing in partnership with International Finance Corporation. (BS)
Elder Pharma to hire 1,000 sales and marketing professional for rural sales. (BS)
Godrej Consumer may introduce some of its international brands in India. (BS)
Shree Ganesh Jewellery secured contracts worth Rs5.1bn for gold jewellery from overseas buyer. (ET)
Subhash Projects won two orders worth Rs632mn from PGCIL. (FE)
State-owned Gujarat State Petroleum Corporation, which has lined up its Rs30.7bn IPO, says development of its Deen Dayal West field may be delayed by a year. (BS)
Andrew Yule may defer its Tide Water Oil stake sale plan. (ET)
Both the US and the EU are discussing additional taxes on carbon-emitting products from advanced developing countries, such as India and China, which could render products from the region uncompetitive. (ET)
SEBI asks 14 firms to register before launching new plans; Irda rejects proposal. (BS)
After failing to convince states to keep petroleum products within the ambit of the proposed GST, the Centre has finally agreed to keep petroleum products like crude, motor spirit, ATF and high-speed diesel out of GST. (BS)
Actual FDI by the Indian business declined by 34.1% in April-December 2009 to US$8.4bn from US$12.7bn a year ago. (BS)
After coking coal and iron ore, thermal coal supply contracts have now been signed at about 40% higher than last year. (BS)
The government imposed an export duty of Rs2,500/ton on raw cotton and 3% of the FOB value of cotton waste with effect from April 9. (BL)
Life insurance companies that have completed five years of operations can apply for permission to go public, according to the norms for IPO finalized by the IRDA. (BL)
The telecom operators may get free 2G airwaves. (ET)
Oil marketing companies to get rest of dues next month. (ET)
Petroleum and Natural Gas Regulatory Board feels the need to take a re-look at the gas transmission tariff. (BL)
Bulls set to take off!
Careers, like rockets, don't always take off on time. The trick is to always keep the engine running - Gary Sinise.
Be it careers, market or rockets, the trick remains the same. The first Indian rocket to be powered by a totally indigenous cryogenic engine will blast off today. Hopefully, it will be mark another major milestone for ISRO and India. Talking of milestones, the S&P 500 and Nasdaq crossed 1200 and 2500, respectively. US shares had their best performance in nearly six weeks after Intel and JP Morgan outperformed.
The domestic market engine is set to chug along well, powered by global cues. The positive undertone on Wall Street also rubbed off on Europe. Asian markets are mostly up. Markets in Shanghai are up marginally despite China clocking a better-than-anticipated 11.9% GDP growth in Q1. May be, investors fear a fresh monetary tightening response from the Chinese central bank!
Another hike in CRR and short-term rates is also on the cards by the RBI later this month. Inflation for March will be out today and is most likely to have crossed 10%. This may lead to a temporary blip in sentiment but on the whole things should be fine.
FIIs were net buyers of Rs1.28bn on Tuesday on a provisional basis. Local funds were also net buyers at Rs2.53bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers of Rs1.86bn. On Monday, FIIs were net buyers of Rs2.44bn in the cash segment, as per the SEBI web site.
Investor sentiment in India continues to be the highest amongst the pan-Asia (ex-Japan) markets, according to survey from ING. Climbing further in the ‘very optimistic’ zone, the India Investor Sentiment Index rose to 174 in Q1 2010 from 169 in Q4 2009.
Results Today: Castrol India, CMC and Sanwaria Agro.
Crude oil futures in New York are trading above $86 per barrel following an unexpected decrease in US inventories. In fact, the entire commodity space rallied across the board on a weaker dollar and rising stocks.
The US economy will continue to recover at a moderate pace in coming quarters, bolstered by a return of business and consumer spending, Fed chairman Ben Bernanke told lawmakers. Overall economic activity in the US has increased since mid-March, according to the latest Beige Book survey by the Fed.
US stocks advanced on Wednesday, as investors welcomed quarterly results from JPMorgan Chase and Intel. An encouraging report on retail sales also bolstered the sentiment.
The Dow Jones Industrial Average surged 104 points, or 0.9%, to end at 11,123.11, the highest level since September 2008. Financial and tech shares led the advance.
The S&P 500 index gained 13 points, or 1.1%, to close at 1,210.65, marking the first time the index has closed above the 1,200 mark in almost 19 months.
The Nasdaq added 39 points, or 1.6%, to end at 2,504.86. It was the first time since June 2008 that the index has ended above 2,500.
The dollar fell against its major rivals: the euro, pound and yen.
Oil prices snapped a 5-day losing streak, settling up $1.79 to $85.84 a barrel. The government's weekly report on U.S. crude inventories showed oil supplies fell by 2.2 million barrels last week.
COMEX gold for June delivery settled up $6.20 to $1,159.60 an ounce.
Prices for US Treasurys fell, with the yield on the benchmark 10-year note rising to 3.83%.
Year-to-date, the Dow is up 6.7%, the S&P has gained 8.6% and the Nasdaq has soared 10.4% as of Wednesday's close. The S&P is up 77% from its March 9, 2009 low. However, the index remains 23.5% below the record high set Oct. 9, 2007.
The blue-chip Dow and Nasdaq touched fresh 18-month highs on Tuesday after slight gains.
JPMorgan Chase reported a $3.3 billion profit for the first quarter, though the bank continued to suffer losses in its consumer loan portfolio.
The New York City-based bank said it earned 74 cents a share during the quarter, up 55% from a year earlier. Analysts were expecting earnings of 64 cents a share. Shares of JPMorgan ended more than 4% higher.
After US markets closed on Tuesday, chipmaker Intel reported earnings and revenue that topped Wall Street's estimates. Shares closed 3.3% higher on Wednesday.
The government's monthly retail sales report and a report on consumer inflation were released before the market opened.
Retail sales jumped 1.6% in March, beating estimates from economists. Sales excluding autos rose 0.6%, also topping predictions.
The Consumer Price Index (CPI), a measure of consumer inflation, rose 0.1% in March, in line with predictions. Core CPI, which excludes volatile food and energy prices, was unchanged. Economists had forecast a 0.1% jump.
A separate report showed business inventories rose 0.5% in March, slightly higher than the 0.4% jump that was forecast.
Federal Reserve chairman Ben Bernanke testified before a joint session of Congress on the economic outlook, saying private-sector demand will be sufficient to spur moderate recovery in coming months, but more time is needed to recover job losses.
Separately, the Fed released its Beige Book report, which said economic activity expanded "somewhat" in 11 of the central bank's 12 districts.
European shares closed higher, led by gains in the technology and banking sectors following strong earnings from Intel and JP Morgan Chase.
The Stoxx Europe 600 index rose 1.75 points, or 0.7% to finish at 270.44, its first gain of the week.
The UK FTSE 100 index was up 0.6% at 5,796.25, the German DAX index settled 0.8% higher at 6,278.40 and the French CAC-40 index rose 0.6% to close at 4,057.70.
The Indian market extended losses into the second straight trading session on Tuesday as global markets turned jittery and investors chose to remain cautious ahead of the earnings deluge. The BSE Sensex has lost over 100 points and the NSE Nifty nearly 40 points in two days. "IT bellwether Infosys came out with Q4 results and guidance that beat street estimates, but failed to bring any cheer to the broader market", says Amar Ambani VP Research IIFL.
The stock didn’t react much in opening trades but as the day progressed, it managed to stage a smart come back. Other IT heavyweights like Wipro, TCS and HCL Tech too did well in anticipation of strong earnings. Finally, the BSE Sensex slipped 31 points to end at 17,822 and NSE Nifty lost 17 points to close at 5,323. Among the 30 components of Sensex, 20 ended in the negative terrain and 10 were in the green.
Markets in Asia also ended in the red; the Nikkei in Japan lost 0.8%, Australia's S&P/ASX edged lower by 0.7%. Shanghai SE Composite ended lower by 0.5% and Hang Seng index in Hong Kong was down 0.2%.
European indices also were in the red, the DAX in Germany was down 0.4, the CAC 40 index in France was down 0.3and the FTSE in the UK was down 0.4%.
Coming back to India, among the BSE sectoral indices, the BSE Auto index was top loser, the index lost 1.3%, followed by BSE Banking index down 0.9% and Oil & Gas index down 0.6%.
Among the top gainers were, BSE IT index up 3% and BSE Teck index up 2%.
Outside the frontline indices, the big losers in the broader market were P&G, IDFC, India Cement and Jai Corp. On the other hand, gainers included Balrampur Chini, HCL Tech, Rolta and REI Agro.
Shares of Infosys ended surged 3.7% to end at Rs2782 after the company beat street estimates reporting a consolidated net profit after tax of Rs16.17bn for the fiscal fourth quarter ended March 31, 2010 as against Rs15.82bn reported in the third quarter. This translates into a sequential quarter-on-quarter growth of 2.2%.
Shares of SAIL slipped by 3% to end at Rs229 after reports stated that the company may sell shares at 5% less than the market price to small investors and employees, Steel secretary Atul Chaturvedi was quoted as saying. The scrip opened at Rs236 it touched an intra-day high of Rs236 and a low of Rs228 and recorded volumes of over 1.3mn shares on BSE.
Shares of Rolta gained by 3% to end at Rs197 after the company announced the acquisition of OneGIS, Inc. It is an exceptional consulting, development and system integration firm with an excellent track record of implementing geospatial and IT solutions.
Subhash Projects & Marketing announced that it has received two awards for Ex-Works Supply and Service Contract towards entrusting the work of 'Substation Package-A for 132 KV (New / Extn) Substations for transmission System associated with Consultancy services to Orissa Power Transmission Corporporation Limited' from Power Grid Corporation of India Limited, New Delhi for an amount aggregating to Rs631.9mn.
Shares of Subhash Project gained by 1% to end at Rs154. The scrip opened at Rs151 it touched an intra-day high of Rs155 and a low of Rs150 and recorded volumes of over 61,000 shares on BSE.
Shares of Shiva Fertilizers were locked at 10% upper circuit at Rs53.90 after the board of directors announced that they will meet on April 19, 2010, to consider and discuss to raise funds by way of Preferential Issue of Shares, Right Issue, QIP Placement, Issue of warrant. The scrip opened at Rs53.9 it touched an intra-day high of Rs53.9 and a low of Rs53.9 and has recorded volumes of over 5,000 shares on BSE.
Shares of Rana Sugars further gained by 4.4% to end at Rs13.60 after the company reported a profit of Rs309.3mn in the second quarter, compared with a loss of Rs37.1mn a year earlier. The scrip opened at Rs13.2 it touched an intra-day high of Rs13.99and a low of Rs13.20 and recorded volumes of over 1.9mn shares on BSE.
Precious metals end higher
Prices go up as dollar slips
Precious metal prices ended higher on Wednesday, 14 April 2010. Prices rose as dollar fell as traders anticipated strong earning reports from Intel and JP Morgan Chase.
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 June delivery ended at $1,159.6 an ounce, higher by $6.2 (0.5%) an ounce on the New York Mercantile Exchange. Last week, gold ended higher by 3.2%. 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 5.8%.
On Wednesday, May Comex silver futures ended higher by 23 cents (1.2%) at $18.47 an ounce. Last week, silver gained 2.6%. 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 8.2%.
In the currency market on Wednesday, the dollar index, which measures the strength of the dollar against basket of six other currencies fell by 0.4%. The dollar index gained about 0.7% in March and rallied 4% during the first quarter. The dollar index has gained 4.1% this year till date. The U.S. currency gave ground, as investors were eager to embrace risk again, helped by upbeat earnings reports from Intel and J.P. Morgan Chase that boosted sentiment on Wall Street.
Among economic reports for the day, the Commerce Department in US reported on Wednesday, 14 April 2010 that U.S. retail sales rose a better-than-expected 1.6% in March, spurred by fresh demand for autos, building materials and new spring clothes. Sales totaled $363.2 billion - the fifth gain in six months. Excluding autos and trucks, sales climbed 0.6% to $300.5 billion.
Also, the Labor Department in US reported on Wednesday, 14 April 2010 that U.S. consumer prices rose 0.1% on a seasonally adjusted basis due mainly to increased costs for fresh fruits and vegetables. The government's core consumer price index, measuring the rate of retail-level inflation after excluding food and energy, was unchanged in March.
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 lower by Rs 5 (0.02%) at Rs 16,796 per ten grams. Prices rose to a high of Rs 16,877 per 10 grams and fell to a low of Rs 16,755 per 10 grams during the day's trading.
At the MCX, silver prices for May delivery closed Rs 142 (0.51%) higher at Rs 27,831/Kg. Prices opened at Rs 27,712/kg and rose to a high of Rs 27,948/Kg during the day's trading.
Subscribe to:
Posts (Atom)