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Thursday, July 22, 2010
Sensex above 18K as European stocks rebound
Today's major news
Deepak Fertilizers zooms on good Q1 nos; the stock ends 9.20% higher
Food inflation softens to 12.47%
Bajaj Auto gears up on robust Q1 nos; the stock closes up 3.15%
BSE Bulk Deals to Watch - July 22 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
22/7/2010 530093 Ace India GREEN OPEN TECHNOLOGIES PRIVATE LIMITED G O T P L B 50906 42.01
22/7/2010 500003 Aegis Logistics SUNDEEP CREDITS PVT LTD S 100092 444.58
NSE Bulk Deals to Watch - July 22 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
22-JUL-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,AKSHI FINANCE PRIVATE LIMITED,BUY,24063,237.04,-
22-JUL-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,BLUE PEACOCK SECURITIES PVT LT,BUY,30000,240.26,-
Select markets eke out small gains in Asia
Some bounce back in risk appetite after Ben Bernanke says that the outlook for the US economy is "unusually uncertain"
Sensex, Nifty scale 29-month closing highs
Rally in European stocks and US index futures triggered a strong rally on the domestic bourses during the later part of the trading session. The BSE Sensex and the 50-unit S&P CNX Nifty both attained their highest closing level in nearly 2-1/2 years. The market surged for the second straight day today, 22 July 2010, with recovery of monsoon rains, decent Q1 June 2010 corporate earning so far and sustained foreign fund buying, boosting investor sentiment. The barometer index BSE Sensex crossed the psychological 18,000 mark, with auto, metal and banking stocks leading the rally.
Midfield Industries IPO Subscription
Qualified Institutional Buyers (QIBs) 1.86 times
Non Institutional Investors 48.41 times
Retail Individual Investors (RIIs) 13.51 times
Market seen opening lower on weak global cues
The market is likely to open lower on weak global cues. Asian stocks fell after the US Federal Reserve Chairman Ben Bernanke said the US economic outlook was unusually uncertain. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could fall 21.50 points at the opening bell. Volatility may rise as traders rollover positions in the derivatives segment from July 2010 series to August 2010 series ahead of the expiry of the near-month July 2010 contracts next Thursday, 29 July 2010.
SKS Microfinance - Offer Price - Grey Market Premium
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Aster Silicates Ltd. | 118 | 5 to 6 |
| Midfield Industries Ltd. | 126 to 133 | 17 to 18 |
| SKS Micro Finance | 455 to 515 | 45 to 46 |
Nothing unusual here
"If you are not willing to risk the unusual, you will have to settle for the ordinary." – Jim Rohn.
Sensex, Nifty manage moderate gains
It was a day of modest gains for the Indian stock indices as the bulls managed to make a come back of sorts after two lackluster trading sessions. The Metal stocks were clearly the biggest winners in today's session after being battered in the recent past. Keeping them company in the upswing were the Realty and select Auto stocks.
Daily News Roundup - July 22 2010
DoT to issue show-cause notices to Idea over six overlapping licences. (ET)
HDFC and Kotak Bank to rework profit forecast for insurance arms. (ET)
Markets may weaken at start
Headlines for the day:
Govt pegs GST at 20% in year one, single rate at 16% by 2014
DLF plans to sell majority stake in DLF Brands
Adani Enterprises' QIP draws Rs4,000 crore
Fed Chairman Ben Bernanke disappoints Wall Street
Stocks shed all their gains following Bernanke's comments
US stocks made a modestly steady start earlier in the day rising on the back of a couple of earning reports on Wednesday, 21 July 2010. But stocks ran out of gas following Federal chairman Ben Bernanke's semi annual testimony to the Senate Banking committee. A strong finish to the prior session and a barrage of better-than-expected earnings reports benefited stocks in the early going, but the major averages lost their way since mid session hours
Crude sinks
Prices drop as crude inventories show unexpected rise for last week
Crude oil prices ended lower on Wednesday, 21 July 2010 at Nymex. Prices fell as energy department reported a sudden buildup in crude stockpiles for last week while traders had anticipated the report to show a drop. Prices also fell following Fed chairman Ben Bernanke's semi annual comments on the US economy.
Bullion metals end higher
Gold stays steady while silver sparkles
Bullion metal prices ended mostly higher on Wednesday, 21 July 2010 at Comex. Gold prices remained almost unchanged while silver prices rose. Prices rose and closed for the day just minutes ahead of Fed chairman Ben Bernanke's semi annual comments on the US economy. Gold investors were also waiting to hear the results of European banks' stress tests to be released on Friday.
Copper prices rise the most in five weeks
Red metal rises for third straight day
Copper prices ended higher for third straight day at Comex on Wednesday, 21 July 2010. Prices rose the most in five weeks after Freeport-McMoRan Copper & Gold Inc., the world's biggest publicly traded producer, said the metal's outlook is “positive.” Prices also rose due to continuous drop in LME inventories in recent months.
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