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Thursday, September 09, 2010
Post Market Review - Sep 9 2010
After yesterday’s consolidation, markets resumed the upward journey in today’s trade as benchmark indices gained more than half a percent on the last trading session of the truncated week. Sensex gained 133 points to close at 18800 while Nifty finished at 5640, up 32 points. BSE Mid-cap and Small-cap indices gained 07% and 0.3% respectively. On weekly basis, Sensex and Nifty have gained 3.2% and 2.9% respectively. All the sectoral indices finished in green for the week with Metal index and Bankex gaining the most, up 5.1% and 4.1% respectively. European markets, after flattish opening, edged up and were trading higher by about two third of a percent. US stock indices future were higher by nearly a third of a percent ahead of reports on jobless claims and trade balance.
Bulls stand strong
Major headlines
Gujarat Pipavav makes a strong debut
Food inflation rises to 11.47%
August car sales up 33%
Indian indices
Sensex outperforms its peers
Major news for the week:
Food inflation rises to 11.47%
Reliance Industries plans to raise its stake in EIH
Israel Supreme Court rules in favour of Sun Pharma
Vodafone loses tax case against income tax department
Direct tax mop-up rises 13.9% in April-August
Advance tax numbers, RBI policy review in focus
Data on advance tax payment for the second installment of 15 September and macro economic data will be in focus next week. Another major event is a mid-term monetary policy review by the central bank on Thursday, 16 September 2010.
Market spurts on FII buying
Stocks surged last week as a better-than-expected US job data for August 2010 eased concerns about global economy. Sustained buying by foreign funds and good monsoon rains also boosted sentiments. Good rains in the current monsoon season will raise farm output, boost rural incomes and lower food inflation.
Sensex vaults 4.6% in seven trading sessions
The key benchmark indices attained their highest closing levels in more than 31 months on higher European stocks and on gains in US index futures. Data showing sustained buying of Indian stocks by foreign funds and good monsoon rains, underpinned sentiments. The BSE 30-share Sensex jumped 132.95 points or 0.71%, up about 130 from the day's low and off close to 25 points from the day's high. Banking, realty, tea, consumer durables and capital goods stocks rose.
BSE Bulk Deals to Watch - Sep 9 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
9/9/2010 511706 Action Fin SHRISH L KENIYA B 50000 24.22
9/9/2010 524598 Aksharchem USHADEVI RAJENDRAKUMAR AGARWAL B 19532 25.06
9/9/2010 531761 Amulya Leas MANOJ GUPTA B 71400 37.51
NSE Bulk Deals to Watch - Sep 9 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
09-SEP-2010,BAJAUTOFIN,Bajaj Auto Finance Ltd,SHINHAN BNP PARIBAS INVESTMENT TRUST MANAGEMENT CO LTD AC SH,BUY,253000,755.00,-
09-SEP-2010,BAJAUTOFIN,Bajaj Auto Finance Ltd,SUNDARAM BNP PARIBAS MUTUAL FUND A/C SUNDARAM BNP PARIBAS SE,BUY,481660,755.00,-
Massive volumes in Gujarat Pipavav Port counter on debut
The stock settles at Rs 54.05 on BSE
Gujarat Pipavav Port (GPPL) settled at Rs 54.05 on BSE, a premium of 17.5% over the initial public offer (IPO) price of Rs 46. The stock debuted at Rs 56.25, a 22.28% premium over the initial public offer (IPO) price. The stock hit a high of Rs 58.40 and a low of Rs 51.90.
Bullion metals trade in narrow band
Gold turns pale but silver shines
Precious metals ended mixed once again on Wednesday, 08 September 2010 at Comex. Gold prices dropped but silver rose. Prices traded within narrow band as banking worries once again faded in the European region. Prices ended mixed despite a weak dollar.
Crude ends marginally higher
Prices pare part of its intra day gains
Crude oil prices ended marginally higher on Wednesday, 08 September 2010 at Nymex. Prices pared some of its gains following the release of Fed's Beige Book. Prices also ended higher as the dollar weakened.
All the Latest Grey Market Premiums
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Gujarat Pipavav Port | 46 | 8 to 10 |
| Indo Solar Ltd. | 29 to 32 | 5 to 6 |
| Eros International | -- | -- |
| Microsec Fin | 110 to 120 (Approx) | 34 to 35 |
| SEA Network | 100 to 110 (Approx) | 18 to 19 |
| Ashok Buildcon | 280 to 300 (Approx) | 53 to 55 |
| VA Tech Wabag | 1200 to 1300 (Approx) | 285 to 288 |
Market may extend three-day gains; food inflation data eyed
The market may extend last three days' gains if trading of the S&P CNX Nifty futures on the Singapore stock exchange is any indication. It indicated that the Nifty could gain 18 points at the opening bell. On macro front, the government will unveil data on some wholesale price indices for the year through 28 August 2010 viz. the food price index, the primary articles index and the fuel price index at about 12:00 IST today.
Sensex to start positive...Gujarat Pipavav to list
At the moment it looks like India is out-performing the world. This week’s movement presents ample evidence of that trend. Whether this pattern continues or not only time will tell. We expect a positive start and the same could be extended, provided there are no further hiccups in world markets. Small-caps have been buzzing, but make sure your allocation is also small on these counters given the heightened risk associated with such counters.
Bulls may continue journey
We don't receive wisdom; we must discover it for ourselves after a journey that no one can take for us or spare us - Marcel Proust.
Markets expect a positive start
Headlines for the day:
Banks face higher capital norms for PE, VC funds
REC wants RBI okay to raise FII stake from 24% to 35%
NMDC eyes 10% stake in Australian firm
Gujarat Pipavav port to list today
The issue, which opened for subscription between August 23-26, was subscribed 19.94 times. Qualified institutional investors' portion got subscribed 13.2 times.
Shares of Gujarat Pipavav port Ltd. will list on the exchanges today. The Company has fixed the issue price for its Rs 5bn public issue at Rs 46 a share while price band was at Rs 42-48.
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