Smart Invest and Smart Trade -Sep 6 2010
Monday, September 06, 2010
Nifty September 2010 futures at discount
Nifty September 2010 futures were at 5,575.70, at a discount of 1.25 points compared to spot closing of 5,576.95. Turnover in NSE's futures & options (F&O) segment jumped to Rs 114398.70 crore from Rs 65255.26 crore on Friday, 3 September 2010.
Risk appetite remains strong following softer than forecast drop in US non farm payrolls
Asian markets mostly gained today followed upbeat cues from the US markets on Friday as the risk appetite remained strong following softer than forecast drop in US non farm payrolls. The markets steadily built upon the last week's gains but the movement was quiet as trading interest was thin ahead of the US Labor Day Holiday today. The US stocks rallied to their best closing levels in three weeks ahead of a long weekend on Friday. The major averages ended the day near their highs for the session. The Dow jumped by 127.83 points or 1.2 percent to end at 10,447.93. The index rose by nearly 3% for the week.
Dalal Street closed at day`s high today, as Indian equities witnessed a magnificent rally aided by strong global cues, persistent buying seen in heavyweights like Reliance Industries, ICICI Bank and Infosys. On sectoral front, metals gained the most followed by banking, realty, oil & gas and IT stocks. Broader markets too led the upsurge. Both Sensex and Nifty at 31 month high.
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
6/9/2010 512344 Aravali Sec ANITA RAKESHKUMAR RANKA S 90432 16.06
6/9/2010 524760 Arvind Intl PADAMRAM KARNAJI CHAUDHARY B 35500 14.13
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
06-SEP-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,ARCHITA C GADA,BUY,25236,293.49,-
06-SEP-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,BP FINTRADE PRIVATE LIMITED,BUY,16692,295.49,-
The key indices scaled 31-month highs on signs the global economic recovery is on track. Stocks rose across the globe as better-than-expected US payrolls data late last week eased market anxiety over chances of a double-dip recession in the world's biggest economy. Besides strong global cues, a good monsoon this season and sustained buying by foreign funds, boosted domestic investor sentiment. The BSE Sensex crossed 18,500 mark and Nifty crossed 5,550 level.
| || |
9.25 to 10
110 to 120 (Approx)
35.50 to 36
100 to 110 (Approx)
18.50 to 19
280 to 300 (Approx)
39 to 40
VA Tech Wabag
1200 to 1300 (Approx)
220 to 230
Job data checks in better than expected at Wall Street
US stocks registered substantial gains for the week that ended on Friday, 03 September 2010. Better than expected economic data, mainly on the last day of the week sent stocks surging on that day. Other than that, there were major news in the merger and acquisition area. Corporate earnings continued to trickle in and did not disappoint in most cases. The week ended on a positive note following a better-than-expected U.S. employment report.
Prices register weekly loss of 0.8%
Despite a better than expected job report, crude prices ended lower on Friday, 03 September 2010 at Nymex. Prices ended lower even though dollar weakened and economic reports checked in better than expected.
Silver rises to two-year high but gold slips
Precious metals ended mixed on Friday, 03 September 2010 at Comex. Silver prices rose to two-year highs and gold prices fell from its two month highs. Gold prices fell as the job report at Wall Street checked in better than expected thereby decreasing the appeal of precious metals as an alternate investment.
Strong economic data raises hopes for demand of the metal
Copper prices posted a fresh four-month high on Friday, 03 September as investors hoped the recovery will translate in more demand for the metal, used in construction and industry applications.
The market may extend last week's gain on firm Asian stocks, which rose after an encouraging economic data in the US. Trading of the S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could gain 27 points at the opening bell.
Wipro and Leica Geosystems bags Rs1.2bn project that involves setting up operator-independent truck dispatch systems at Coal India’s 11 large mines. (ET)
SBI is considering the merger of all five of its remaining associate banks with itself, having amalgamated with two of them in the last two years. (BS)
During the week, caution and optimism went hand in hand. A rare error in Q1 GDP numbers was sorted out after a credible explanation from the Government. Overall, the GDP data only reinforced a growing view that economic fundamentals remain fairly robust. Having said that, PMI data on manufacturing and service sector activity and trade figures indicated that some softening could be underway and that growth may have peaked out. Also, inflation continues to hover near double digits, putting relentless pressure on the RBI to raise rates. The BSE Sensex and the NSE Nifty gained 1% each this week ending at 18,221 and 5,479 respectively but the broader market indices clearly outpaced the gains in the main indexes.
Investors with medium-term perspective can consider buying the stock of Usha Martin (Rs 88.5). The stock has been on a steady long-term uptrend since its March 2009 low of Rs 18.6, shaping rising peaks and troughs.