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Tuesday, July 20, 2010
BSE Bulk Deals to Watch - July 20 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
20/7/2010 533022 20 Microns SAR AUTO PRODUCTS LIMITED S 92592 59.64
20/7/2010 517356 ACI Infocom ABHAY KUMAR MEHTA B 55000 30.50
20/7/2010 523120 Ador Multi CHANDER MOHAN BHATIA B 16202 26.71
NSE Bulk Deals to Watch - July 20 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
20-JUL-2010,20MICRONS,20 Microns Limited,JINESH AJITKUMAR JAIN,BUY,144951,59.40,-
20-JUL-2010,20MICRONS,20 Microns Limited,SAR AUTO PRODUCTS LIMITED,BUY,1045,59.02,-
Asian buyers back in business
Stocks stage steady gains; crude tops $77 before easing
The Asian markets were mostly higher today as the despite positive closing on Wall Street in the previous session. Some buying emerged in the resources as crude oil topped $77 per barrel mark and steady earnings news from the US made investors buy the Asian stocks. Dollar also stayed near 1.3000 mark before paring the losses in late trading. However, bulk of the action in Asia was over by that time and even as DOW futures slid lower by 88 points, the Asian markets were mostly cushioned from it.
Sensex registers its fourth decline in five days
The key benchmark indices reversed the initial gains as European stocks fell and as US index futures tumbled. The BSE Sensex fell below the psychological 18,000 mark after crossing that level in early trade. The BSE shed 50.28 points or 0.28%, off close to 160 points from the day's high and up close to 30 points from the day's low. Auto and banking stocks reversed initial gains on rate hike worries. Healthcare stocks also fell. But, realty stocks gained. Index heavyweight Reliance Industries (RIL) turned negative.
Midfield Grey Market, SKS Microfinance Grey Market
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Aster Silicates Ltd. | 118 | 6.5 to 7 |
| | 166 | 3.50 to 4 |
| Midfield Industries Ltd. | 126 to 133 | 15.50 to 16 |
| SKS Micro Finance | -- | 47 to 48 |
Market may open higher on firm Asian stocks
The market may open higher on firm Asian stocks which rose after US stocks settled higher on Monday, 19 July 2010. On the domestic front, good corporate earnings reported by India Inc so far, revival in monsoon and foreign fund buying may further support sentiment. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could gain 22 points at the opening bell.
Flat start on the cards
Headlines for the day:
Shriram Group may take over Vishal's retail arm
NHDC's 100MW wind power plant in MP
Gas EGoM likely to okay supply for Lanco, GMR, Sravanthi power units
Some strength at start
Dwell not upon thy weariness, thy strength shall be according to the measure of thy desire. - Arab Proverb.
Daily News Roundup - July 20 2010
Emirates Telecommunications (Etisalat) is close to buying 26% in telecom firm Reliance Communications. (BS)
BHEL has won an order from Dainik Bhaskar Power worth Rs26.7bn (US$567mn) for setting up a 1,200 megawatts thermal power plant. (ET)
US stocks manage to hold on to gains
Weaker than expected housing data push stocks lower during mid day trading
US stocks managed to end modestly higher on Monday, 19 July 2010. After making a strong start, stocks slipped after a couple of hours of trading due to a weaker thane expected housing sector report. Then, stocks once again picked up momentum as traders anticipated that companies will report better than expected earning report in the current quarter.
Red metal stays steady
Prices fluctuate following a weaker than expected housing data
Copper prices ended marginally higher at Comex on Monday, 19 July 2010. Prices oscillated following a weaker than expected housing data at Wall Street.
Bullion metals turn pale
Precious metals add more losses to their last week's loss
Bullion metal prices ended lower on Monday, 19 July 2010 at Comex. Prices continued with their last week's losses after inflation issues continued to grip the market thereby reducing the appeal of precious metals. The strong dollar also aided in slipping bullion metal prices.
Crude crawls up
Prices end off their intra day session highs
Crude oil prices ended higher on Monday, 19 July 2010 at Nymex but were off their session highs. Prices rose as traders anticipated that companies will report better than expected earning report in the current quarter.
Insipid markets…Sensex, Nifty drift lower
The Indian markets ended with marginal losses on Monday, the NSE Nifty consolidated for the fourth straight trading session. After opening near days low, markets remained in a narrow range.
ETC Networks
We recommend a buy in the stock of ETC Networks from a short-term perspective. It is evident from the charts of the stock that it has been on a steady intermediate-term uptrend shaping rising peaks and troughs, from its March 2009 low of Rs 50. The stock's medium as well as short-term trend is also up. After consolidating sideways between Rs 240 and Rs 270 since late April 2010, the stock decisively broke out of this range by gaining 3.7 per cent with above-average volume on July 19. The stock is trading well above its 21- and 50-day moving averages. The daily relative strength index has entered in to the bullish zone and weekly RSI is already featuring in this zone. Both daily and weekly moving average convergence divergence indicators are hovering in the positive territory signalling upward momentum. Considering that the stock's medium-term uptrend line is in tact, we are bullish on the stock. We anticipate the stock to rally until it hits our price target of Rs 296 or Rs 300 in the approaching trading sessions. Short-term traders can buy the stock while maintaining stop-loss at Rs 277.
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