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Thursday, August 05, 2010

Mixed bag for Asian stocks

Markets stay braced up for critical economic data on both sides of the Atlantic

Asian markets had a very mixed outing today as the sentiments were mostly dull ahead of the key European Central Bank (ECB) interest rate decision today and the US non farm payrolls data tomorrow. The US markets had a decent outing in the last session as the ADP Employer Services showed US payrolls, excluding government agencies, climbed by 42,000 last month, recording a rise for the sixth consecutive month. The US dollar lost out in the London trades today, having stayed almost unaltered in the bulk of the Asian session, paving way for a very minute upturn in the US index futures. Select markets went up but the rest of the pack saw uninspiring moves. Yesterday, in the US, the major averages closed firmly in positive territory, after losing out in the previous session. The Dow added 44.05 points or 0.4% the Nasdaq rose 0.9% while the S&P 500 climbed 0.6%.

RIL, ADAG shares slide as Sensex snaps 3-day rally

A likely increase in interest rates by the Reserve Bank of India (RBI) at a mid-quarter policy review on 16 September 2010 triggered profit taking on the bourses after the key benchmark indices struck 2-1/2-year highs at the onset of the trading session. Stock-specific buying continued based on the first quarter result announcements/expectations about first quarter results of individual firms. Two Sensex stocks - TCS and State Bank of India (SBI) scaled record highs.

Market retreating from a 30- month high

Today's major news

Reliance Industries in Marcellus Shale JV with Carrizo Oil & Gas; the stock closes 0.88% lower

Larsen & Toubro bags Rs1,749 crore orders; the stock closed higher by 0.17%

Food inflation eases to 9.53%

Bajaj Corp Final Subscription Figures

Qualified Institutional Buyers (QIBs) 20.19
Non Institutional Investors 53.49
Retail Individual Investors (RIIs) 6.62

BSE Bulk Deals to Watch - Aug 5 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
5/8/2010 511706 Action Fin KRUNAL CHANDRAKANT PARMAR S 62902 20.00
5/8/2010 532975 Aishwarya Tele PARMESHWAR HUGER B 200000 31.08
5/8/2010 530713 Ajel Info HEMANT KISHANGOPAL SANGANERIA S 55000 26.93

NSE Bulk Deals to Watch - Aug 5 2010

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
05-AUG-2010,AHLWEST,Asian Hotels (West) Ltd,AKSHI FINANCE PRIVATE LIMITED,BUY,78129,414.67,-
05-AUG-2010,AHLWEST,Asian Hotels (West) Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,99297,417.41,-

One day before close - Bajaj Corp Grey Market Premium

Company Name

Offer Price




Engineers India (FPO)


40 to 45

SKS Micro Finance

850 to 985

42 to 45

Bajaj Corp. Ltd.

630 to 660

52 to 55

Prakash Steelage

100 to 110

3 to 4

Late day rally helps US stocks to end modestly higher

Earning data keeps the momentum positive across the market

A late day rally helped US stocks end modestly higher on Wednesday, 04 August 2010. Stocks kicked off the day higher but traded with mild gains throughout most part of the day. Better than expected economic data for the day were the main reasons that helped stocks end higher.

Market may extend gains on higher Asian stocks; food inflation data eyed

The market may extend gains for the fourth straight day, tracking higher Asian stocks, which rose after positive economic data in the US. Trading of the S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could gain 9 points at the opening bell. On the macro front, the government will unveil data on some wholesale price indices for the year through 24 July 2010 viz. the food price index, the primary articles index and the fuel price index at about 12:00 IST today.

New highs, time to let go!

Some people think it's holding on that makes one strong- sometimes it's letting go. – Anonymous.

A strong show by IT majors ensured the bulls had a good day in office. But market breadth was neutral and volume once again tepid. Yes, we might just see the Nifty piercing 5500 today. But the big question is can the market sustain the advance?

Morning Notes - Aug 5 2010

Morning Notes - Aug 5 2010

Daily Market Outlook - Aug 5 2010

Daily Market Outlook - Aug 5 2010

Daily Report - Aug 5 2010

Daily Report - Aug 5 2010

Daily Technicals - Aug 5 2010

Daily Technicals - Aug 5 2010

Nifty ends at new 30-month high

The bull-bear slugfest continued today but the bulls emerged triumphant after a fairly volatile session. The Indian market pulled off a late advance after stocks in Hong Kong and China rebounded even as European markets remained in red.

Daily News Roundup - Aug 5 2010

TCS is eyeing two contracts for strategic defense communication systems worth Rs28bn. (BS)

ONGC-led consortium of state-owned energy firms proves viability of 2.7 trillion cubic feet (tcf) Mahanadi block. (ET)

L&T bags orders worth Rs10.25bn for the construction of two hospital, residential projects in Mumbai and a cement plant. (BL)

Andhra Pradesh government awards ~Rs121bn Hyderabad Metro Rail Project to L&T. (BS)

Tamil Nadu government signs three MoUs worth about Rs130bn with major companies for various projects, including setting up of a liquefied gas terminal by IOC. (BS)

Maruti Suzuki may manufacture cars for Volkswagen’s global business on contract basis. (BL)

Maruti Suzuki to advance Manesar plant operations by six months. (ET)

DoT to seek legal view on RCom audit for allegedly under-reporting its revenues to the government. (BL)

M&M is now firming up plans to enter the domestic motorcycle market by the end of this year. (BS)

M&M board is likely to approve the company’s bid for ailing Korean SUV maker Ssangyong at its meeting on Thursday. (ET)

Reliance Power will be able to commission the 4,000MW Krishnapatnam ultra mega power project eight months ahead of schedule. (BS)

Godrej Consumer Products in talks with P&G to give up its license to sell air freshener brand ‘Ambipur’ in India. (BS)

JK Tyres to invest Rs15bn in facility in near Chennai. (BL)

NMDC hikes capex for FY-11 to Rs10bn. (BL)

Mundra Port to invest Rs60bn over the next three to five years for port development. (ET)

Independent News & Media has sold its residual 5.7% stake in Jagran Prakashan for Rs2.01bn to a bunch of domestic and foreign funds. (ET)

IDBI has raised its benchmark prime lending rate by 50 basis points (bps), effective August 5.(BS)

Videocon will invest Rs15bn over the next five years at Manamadurai SIPCOT Industrial Park. (BS)

Piramal Healthcare is looking to grow its healthcare business which consists of CRAM, OTC and critical care segments, through acquisitions as well as normal expansion. (BS)

State government opposes the draft Constitutional Amendment Bill that gives the Union Finance Minister a veto power in matters relating to State GST. (BL)

Union Ministry of Information Technology and Communication wants uniform tax soaps for all IT units. (BL)

FDI declined by about 45% to $1.41bn in June this year. (ET)

Tea exports fell by around 15% to 12.7mn kg in June this year. (ET)

Ministry of heavy industries and public enterprises has sought imposition of up to 14% Customs duty on import of power equipment. (ET)

RBI issues draft proposals for credit protection on infra bonds. (BS)

SGX Nifty Live Update - Aug 5 2010

5,475.00 +11.00

Domestic markets all set for a gap-up start

Headlines for the day:

Decontrol of petrol prices not enough to tame subsidy bill

Bharti Walmart opens third cash-and-carry store in Punjab

R-Power may commission UMPP eight months ahead of schedule

Copper strengthens

Prices rise as economic data surpass expectations

Copper prices ended substantially higher at Comex on Wednesday, 04 August 2010. Prices rose to three-month high figure following better than expected economic data.

Mixed end for bullion metals

Gold stays a little shy of $1,200 mark

Bullion metal prices ended mixed on Wednesday, 04 August 2010 at Comex. Gold prices rose and crossed the $1,200 mark during intra day trading. Silver prices dropped though.

Crude ends winning streak

Prices drop as gasoline inventories rise for last week

Crude oil prices ended their four-day winning streak and ended lower on Wednesday, 04 August 2010. Prices dropped as energy department reported build up in gasoline inventories for last week. A strong dollar also led to drop in prices.

Punj LLoyd, Hindalco, Glaxo, India Technology

Punj LLoyd, Hindalco, Glaxo, India Technology

Visa Steel, Voltamp Transformers

Visa Steel, Voltamp Transformers

JK Cement, Madras Cement, Mercator Lines, Mundra Port and SEZ, Punj LLoyd, PVR Cinemas, SCI, Subros, Tata Chemicals, Unity Infraprojects

JK Cement, Madras Cement, Mercator Lines, Mundra Port and SEZ, Punj LLoyd, PVR Cinemas, SCI, Subros, Tata Chemicals, Unity Infraprojects

Torrent Power

Torrent Power

GSFC, GVK Power and Infrastructure, HUL, Nestle, India Cements, Indian Hotels, IOB, JBF Industries

GSFC, GVK Power and Infrastructure, HUL, Nestle, India Cements, Indian Hotels, IOB, JBF Industries