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Tuesday, June 22, 2010

Nifty July 2010 futures at premium

Turnover declines

Nifty June 2010 futures were at 5324.90, at a premium of 8.35 points over spot closing of 5316.55. Nifty July 2010 futures were at 5331.90, at a premium of 15.35 points over spot closing.

Asian stocks fade after magical Monday

Sentiments was nervous as traders eye US Fed meet amid lack of major data

Asian stocks slipped after yesterday's gains as wary investors sold their holdings following firm undertone in the US dollar and selling pressure in commodities. The sentiments was nervous as traders eyed the US Fed meet, which is starting later on today and lack of major economic data on the global front kept the downside pressure on throughout the session. This made stocks gave up yesterday's gains when the buying spree in the Asian markets as China signaled an end to the yuan's fixed rate to the dollar, boosting confidence in the global economic recovery and lifting the outlook for world exports.

BSE Bulk Deals to Watch - June 22 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
22/6/2010 513401 Ashiana Ispat SATYA NARAYANA YADAV M S 38545 13.83
22/6/2010 522005 Austin Engr ALFA FISCAL SERVICES PVT LTD B 18303 100.56
22/6/2010 522005 Austin Engr ALFA FISCAL SERVICES PVT LTD S 18303 100.66

NSE Bulk Deals to Watch - June 22 2010

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
22-JUN-2010,EMMBI,Emmbi Polyarns Ltd,INVENTURE GROWTH & SECURITIES LIMITED,BUY,86716,18.75,-
22-JUN-2010,GLOBUSSPR,Globus Spirits Limited,WASATCH GLOBAL OPPORTUNI TIES FUND,BUY,197135,158.40,-

Nifty holds 5300

Today's major news

Larsen & Toubro arm bags Rs827-crore orders; the stock closes 0.83% down

Bharti Airtel to invest $100 million in Uganda; the stock ends 1.04% lower

Sun Pharmaceuticals gets USFDA nod for generic Optivar; the stock closes 0.28% higher

IT, metal shares lead decline

Weakness in global stocks triggered profit taking on the domestic bourses, with metal and IT stocks leading the decline. Bank stocks also fell. Index heavyweight Reliance Industries (RIL) edged lower in volatile trade. The BSE 30-share Sensex fell 126.86 points or 0.71%. The Sensex had jumped 1,259.45 points or 7.5% in nine trading sessions to settle at 2-1/2 month closing high of 17,876.55 on Monday, 21 June 2010, from a recent low of 16,617.10 on 8 June 2010.

Not all is well on the Wall street

Dow's triple digit gains are completely wiped out as yuan dominates everybody's mind

US stocks erased triple digit gains at Wall Street on Monday, 21 June 2010 and ultimately ended little lower. Traders continued to mull over the fact of unleashed yuan's effect on world trade though the same has been considered good till now. Stocks started the day higher riding on the back of strong Asian stocks across the world but the rally fizzled out due to the lack of any support on any major front. Corporate news and data flow was not there today to dictate market momentum.

Base metals shine

China's yuan movement boost metals

Red metal prices rose the most in a week at Comex on Monday, 21 June 2010. Prices rose today as China's step to free its currency against the dollar has been viewed as a positive for commodities.

Market Strategy - June 22 2010

Market Strategy - June 22 2010

Tech Watch - June 22 2010

Tech Watch - June 22 2010

Annual Report - Garware Offshore Services - 2009-2010





Your Directors are pleased to present their report as under:

Annual Report - TTK Prestige - 2009-2010



Your Directors have pleasure in presenting their Fifty Fourth Annual
Report, together with the Audited Accounts of the Company, for the year
ended 31st March 2010 as follows:

Aster Silicates, Parabolic Drugs Grey Market Premiums

Parabolic Drugs Ltd.

75 to 85


Aster Silicates Ltd.

112 to 118

2 to 2.50

Daily Trading Calls - June 22 2010

Daily Trading Calls - June 22 2010

Running out of luck!

Good luck seldom comes in pairs but bad things never walk alone.

What a difference a day makes! On Monday, the world markets cheered China’s proposed currency reform, firing up the risk trade. But, some of that euphoria seems to be fading already with US stocks closing in the red. In fact, the Dow Jones was up over 100 points at one point. A downgrade of BNP Paribas by Fitch and loan loss projections for Spanish banks by S&P reminded investors of Europe's debt troubles. The euro retreated from a one-month high against the dollar. The US currency is actually up against the yuan today.

Morning Trading Report - June 22 2010

Morning Trading Report - June 22 2010

Market may move down

The market may snap recent sharp gains which saw the key benchmark indices scale 2-1/2 month highs on Monday, 21 June 2010. Asian stocks were in the red. Trading of the S&P CNX Nifty on the Singapore stock exchange indicated that the Nifty could fall 16.50 points at the opening bell.

SGX Nifty drops a little

5,335.00 -19.00

Daily News Roundup - June 22 2010

Reliance Industries has become the second refinery to receive crude oil supply through Cairn India and its joint venture partner ONGC's pipeline network. (BL)

Oil India has secured an extension for petroleum exploration licences for 10 of its 16 independently held blocks in Assam and Arunachal Pradesh. (BS)

BEML plans to invest Rs6.8bn in the next two to three years for expansion and diversification.(BS)

Tata Teleservices has suggested that the price of each MHz of excess spectrum beyond 6.2MHz in the 1800 Mhz band should be 1.67 times the 3G price set through the recent auction. (BS)

The Bajaj-Renault-Nissan alliance’s small car project continues to get sidelined as plans of production and branding is yet to take shape. (BS)

Bharti Airtel has appointed Ogilvy Africa BV as its marketing services partner for its African operations. (ET)

HCL Technologies denied any plans to merge with the group’s computer hardware subsidiary HCL Infosystems. (ET)

Dewan Housing Finance Corporation stated that IFC has agreed to invest up to Rs200mn by subscribing up to 2mn shares in Aadhar Housing Finance Pvt Ltd. (FE)

Tata Steel won the environmental ministry approval to expand capacity at its Jamshedpur unit. (ET)

Reliance Industries several attempts to take over LyondellBasell may not be the final one. The Netherlands-based major expects the bid to come again in the coming years. (BS)

Cox & Kings (India) plans to raise Rs20bn of equity and debt to fund expansion plans. (ET)

Nagarjuna Construction is planning to dilute ~49% stake by roping in a foreign partner in the special purpose vehicle executing the 1320-MW coal-fired plant in Srikakulam, Andhra Pradesh. (BL)

JSW Steel has demanded a stake in the controversial Obulapuram Mining Company or a definite deal to supply iron ore as talks with Karnataka’s Reddy brothers for taking over their steel company reach a crucial stage. (ET)

GMR Group is willing to buy stakes held by minority partners in all the three airports it operates if there is any such offer. (ET)

The department of public enterprises has proposed that the finance ministry classify loans to sick state-owned companies as priority sector lending, entitling them to lower interest rates and hastening their recovery. (ET)

The government is set to simplify Shops and Establishments Act, some of the provisions in the law may be amended or dispensed with. (BS)

The Union government proposes to switch over to specific rates for value added tax on petrol and diesel instead of the current ad-valorem (percentage) structure. (BS)

Insurance regulator, IRDA is set to frame new guidelines for ULIP products, to make them more attractive for policy holders. (FE)

Sensex cracks triple ton…Metals, Realty soar

After taking a small breather on Friday, the Indian markets resumed their northward journey today. Market sentiment got a fillip after the Government announced that IRDA will continue to oversee ULIPs, reviving the sales of the popular hybrid products.

Markets likely to get a soft start

Headlines for the day:

Bajaj-Renault-Nissan small car plan continues to languish

Murli Deora hints at fuel price increase

JSW Infra invites PE investments, discussions on

Oil India gets extension for most exploration licences


Investors with a short-term trading perspective can buy the stock of Provogue India. This stock is in a strong uptrend since the low of Rs 41.4 recorded on May 26. It has recorded only three negative daily closes since this trough.