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Thursday, June 17, 2010
Sensex ends firm; L&T surges
The Sensex ended sensitive session on a strong note for the seventh consecutive day. On sectoral front, capital goods, oil & gas and auto stocks moved up except consumer durable. Both Sensex and Nifty traded above 1-month high.
Sensex on seventh heaven
Today’s major news
Reliance Capital buys 18% in Bloomberg-UTV, the stock closes 0.64% higher
Food inflation softens to 16.12%
Reliance Power starts power generation from Rosa plant, the stock ends 0.69% up
BSE Bulk Deals to Watch - June 17 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
17-JUN-2010,AEGISCHEM,Aegis Logistics Ltd,SUNDEEP CREDITS PVT LTD,BUY,90884,348.31,-
17-JUN-2010,HYDROS&S,Hydro S & S Ind. Ltd,DYNAMIC STOCK BROKING (I) PRIVATE LIMITED,BUY,61091,42.28,-
NSE Bulk Deals to Watch - June 17 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
17-JUN-2010,AEGISCHEM,Aegis Logistics Ltd,SUNDEEP CREDITS PVT LTD,BUY,90884,348.31,-
17-JUN-2010,HYDROS&S,Hydro S & S Ind. Ltd,DYNAMIC STOCK BROKING (I) PRIVATE LIMITED,BUY,61091,42.28,-
Turnover surges
RIL, Tata Steel June 2010 futures at premium
Nifty June 2010 futures were at 5,284.05, at a premium of 9.20 points compared to spot closing of 5,274.85. Turnover in NSE's futures & options (F&O) segment surged to Rs 1,06,228.66 crore from Rs 93,203.13 crore on Wednesday, 16 June 2010.
Reliance Industries (RIL) June 2010 futures were at premium at 1076.90 compared to the spot closing of 1072.15.
Tata Steel June 2010 futures were at premium at 482.75 compared to the spot closing of 480.90.
ICICI Bank June 2010 futures were at discount at 878.10 compared to the spot closing of 879.25.
In the cash market, the S&P CNX Nifty rose 41.50 points or 0.79% at 5,274.85.
Parabolic Drugs IPO fully bid
Receives bids for 2.68 crore shares
The initial public offer of Parabolic Drugs was subscribed 1.01 times on the last day of the issue on Thursday, 17 June 2010. By 16:00 IST, the IPO received bids for 2.68 crore shares as compared to 2.66 crore shares on offer. The price band of the IPO was set at Rs 75-85 per share.
Market settles at 1-1/2 month high; extends gains for seventh day
The key benchmark indices extended gains for the seventh day in a row to settle at one and a half month highs after a largely successful Spanish bond auction eased worries about the euro-zone crisis. Expectations of strong earnings growth underpinned sentiment, with most front line firms paying higher advance tax in Q1 June 2010. The BSE 30-share Sensex jumped 153.82 points or 0.88%, up 221.79 points from the day's low and off 30.73 points from the day's high. The market breadth was positive, though not as strong as it was earlier in the day. European stocks and US index futures rebounded after the Spanish bond auction.
Parabolic Drugs Grey Market Premium slips into discount
Parabolic Drugs Ltd.
75 to 85
Discount
Bullion metals shed little gains
Prices stay low as dollar stays steady
Bullion metal prices ended lower on Wednesday, 16 June 2010 at Comex. Prices fell as the dollar pared early losses and inched up against the basket of other currencies even though the euro remained at its two-week high levels.
Crude prices rise further
Prices rise as crude stockpiles drop for last week
Crude oil prices ended higher on Wednesday, 16 June 2010 at Nymex. Prices went up as energy department reported drop in crude inventories for last week. Crude also moved higher in tandem with higher US equities.
Flat start likely on Asian cues
Headlines for the day:
Tax code blow for India Inc to soften
Mukesh Ambani eyes energy source to power UMPPs
RCap takes 18% in Bloomberg UTV
Daily News Roundup - June 17 2010
Reliance Industries plans to build large power plants in India. (BL)
Reliance Capital picks up 18% stake in Bloomberg UTV. (BL)
RCom looks to selling 26% stake in Globalcom. (BL)
NTPC is scouting for coal fields in Australia. (ET)
IOC, HPCL have signed contracts with RIL for KG gas. (ET)
US distributor sues M&M for delay in launching SUV. (BL)
SBI is planning to introduce wealth management services in a phased manner in 2010-2011. (BL)
Cipla to partner Chinese companies to sell Roche, Amgen drug clones. (ET)
Khazanah set to buy Aman Resorts from DLF. (ET)
Punj Lloyd Singapore arm bags Rs13.9bn project. (ET)
Fortis gets time till July 30th to decide on counter offer for Parkway. (BL)
Government plans to divest 10% stake in Neyveli Lignite. (BL)
Essar Oil raises US$115mn from FCCBs to part-finance its expansion plans. (BL)
TCS has won a multi-year outsourcing deal from Telenor Norway. (BL)
Orient Paper will be re-starting its 1mtpa paper plant in Madhya Pradesh. (BL)
Procter and Gamble (P&G) said increase may provide a boost to sales growth in the next fiscal year. (BL)
Suven Life Sciences has secured two products patents from the ‘Japanese Patent Office’. (BL)
Surana Power is planning to set-up two thermal power plants with an outlay of Rs26.4bn in Raichur. (ET)
Adani Group arm starts drilling in Cambay. (BL)
RBI to buyback government bonds upto Rs200bn. (BS)
Telecom companies to invest US$40bn this year to develop 3G, BWA networks. (ET)
Direct Tax Code (DTC) re-thinks on cut in tax exemptions. (BS)
Government allows sugar exports to European nations. (BS)
Sixth straight gain for Sensex
The rally continued on Dalal-Street with the main stock indices extending the winning streak to a sixth straight session on Wednesday. The NSE Nifty has now managed to close above 5200 for the second straight session, indicating renewed strength in the sentiment.
Testing Thursday!
You can't choose the ways in which you'll be tested. - Robert J. Sawyer.
The Indian stock indices seem to be testing the recent tops and the charts point to faltering momentum after six days of gains, indicating a temporal pause to the uptrend. Indian markets are likely to consolidate in a sideways fashion in the wake of an extremely muted session on Wall Street. Trend in Asia is mixed. The Nikkei is down while Hong Kong and Shanghai stocks are up as they resumed trading after a holiday.
Market seen opening flat
The market is likely to open little changed on mixed global cues. Asian markets were trading mixed while US markets ended almost unchanged on Wednesday. Trading in S&P CNX Nifty index futures on the Singapore stock exchange indicated that the Nifty could rise 6.50 points at the opening bell. The government will unveil data on some wholesale price indices for the year through 5 June 2010 viz. the food price index, the primary articles index and the fuel price index at about 12:00 IST today.
Kalindi Rail Nirman - short term trading
We recommend a buy in the stock of Kalindi Rail Nirman from a short-term trading perspective. It is apparent from the charts of the stock that in December 2009, it encountered a key long-term resistance band between Rs 230 and Rs 240 and resumed its long-term downtrend that has been in place from January 2008 peak of Rs 600. Also since December 2009, the stock has been on a medium-term downtrend. However, the stock's medium-term downtrend got halted with support around Rs 115 in May this year. Triggered by the positive divergence displayed in the daily moving average convergence divergence indicators, the stock reversed direction from Rs 115. The short-term trend is up for the stock. On June 16, it penetrated the immediate resistance as well as 50-day moving average of around Rs 130 by gaining 5.5 per cent, with above-average volumes. The daily relative strength index has entered into the bullish zone from the neutral region and the weekly RSI has entered into the neutral region from the bearish zone. The daily MACD is on the brink of entering in the positive territory. We are bullish on the stock from a short-term perspective. We expect it to move up until it hits our price targets of Rs 139 or Rs 142 in the forthcoming sessions. Short-term traders can buy the stock with stop-loss at Rs 127.
via BL
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