Smart Invest and Smart Trade - Sep 29 2010
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Wednesday, September 29, 2010
Indices below key levels
Major headlines
Tata Consultancy Services joins hands with British Airways; the stock closes higher by 0.08%
Lupin's arm acquires stake in Generic Health; the stock closes 1.58% down
Punj Lloyd signs pact with Nuvia India; the stock ends 3.24% lower
BSE Bulk Deals to Watch - Sep 29 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
29/9/2010 530901 ACIL Cot Inds DILIPKUMAR JETHABHAI CHAUDHARY S 65000 30.94
29/9/2010 532114 Alchemist Rlty CLSA (MAURITIUS) LIMITED S 1800000 16.30
NSE Bulk Deals to Watch - Sep 29 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
29-SEP-2010,DCM,DCM Ltd,MBL & COMPANY LTD.,BUY,89795,121.51,-
29-SEP-2010,DHANUS,Dhanus Technologies Limit,DB (INTERNATIONAL) STOCK BROKERS LTD.,BUY,93934,21.98,-
Asian markets end mixed
Select indices record gains, as economic undertone remains positive in region
Asian markets ended mixed today, though select indices added decent gains on the back of positive overnight close in the US markets and a strong set of economic numbers from China and Japan. US dollar plummeted to fresh six-month lows above 1.3600 against the Euro and supported the risk appetite. Commodity prices also remained strong. The economic undertone remains steady in Asia after the Asian Development Bank (ADB) stated yesterday that developing Asia's robust recovery from the global crisis is gaining further momentum. The ADB forecasts healthy growth of 8.2% for the region in 2010, well above 5.4% recorded in 2009 and also above ADB's earlier forecast of 7.5% in ADO 2010, released in April.
Market slides for the second straight day; Sterlite slumps
The key benchmark indices fell for the second straight day as traders resorted to profit taking after this month's strong gains in share prices. Investors sold metal, realty, consumer durables and FMCG stocks. The Sensex fell below the psychological 20,000 mark, after moving above and below that level intraday. The 50-unit S&P CNX Nifty also fell below the psychological 6000 mark. Copper major Sterlite Industries tumbled 8.5% after the Madras High Court on Tuesday, 28 September 2010, ordered closure of Sterlite Industries' copper smelting plant at Tuticorin after noting that the company has failed to comply with environmental issues.
Gold closes above $1,300 mark
Prices register all time new highs once again
Precious metals glittered and ended at record highs on Tuesday, 28 September 2010 at Comex. Yellow metal prices closed above the $1,300 mark for the first time ever. Silver also shone. Prices rose as dollar dropped and economic data checked in weaker than expected.
Crude ends marginally lower
Prices pare most of their early losses as stocks gain
Crude oil prices ended marginally lower on Tuesday, 28 September 2010 at Nymex. Prices started the day in the red but then prices rose in tandem with US stocks. Prices rose due to weak dollar. But weak consumer confidence data pushed crude price back in the red.
Bedmutha Industries Grey Market Premium - Coal India
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Indosolar Ltd. | 29 (Lower Band) | 0.75 (Paise) to 1 (may go in Discount) |
| Tirupati Inks (FPO) | 43 (Upper Band) | 10 to 11 |
| Career Point Infosystems | 310 (Upper Band) | |
| Eros International | 175 (Upper Band) | 42 to 44 |
| Microsec Fin | 118 (Upper Band) | 15 to 17 |
| Ramky Infrastructure Ltd. | 450 | 9 to 11 |
| Orient Green Power | 47 to 55 | 0.50 to 0.60 (Paise) |
| Electro Steel | 10 to 11 | 1.50 to 1.75 |
| Gallantt Ispat | 50 (Fixed Price) | 2 to 2.25 |
| VA Tech Wabag | 1230 to 1310 | 300 to 310 |
| Cantabil Retail | 127 to 135 | 7 to 9 |
| Tecpro Systems | 340 to 355 | 55 to 58 |
| Ashoka Buildcon | 297 to 324 | 21 to 23 |
| Sea TV Network | 90 to 100 | 22 to 23 |
| Bedmutha Ind. | 95 to 102 | 11 to 13 |
| Coal India | 225 to 250 (Approx) | 11.50 to 12.50 |
| Commercial Engg. | 125 to 127 | 7 to 9 |
Market may edge higher on positive economic data in China, Japan
The market may edge higher, tracking firm Asian stocks, which rose after positive economic data in the major Asian economies viz. China and Japan. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could gain 15 points at the opening bell.
Markets may have a flat start
Headlines for the day:
IRDA for even dilution of holdings in IPOs
Bharati Shipyard may sell 15% stake to SCI
BP, RIL to discuss asset sales, Joint ventures
Sensex to rise at start...Mahindra Satyam in focus
The bulls may have been pushed to the wall on Tuesday but looks like they will regain some momentum today. Global indicators are bright with the US market rising despite a drop in consumer confidence. European shares dipped owing to sovereign debt concerns but ended off session lows.
More momentum!
Sometimes being pushed to the wall gives you the momentum necessary to get over it! - Peter de Jager.
The bulls may have been pushed to the wall on Tuesday but looks like they will regain some momentum today. Global indicators are bright with the US market rising despite a drop in consumer confidence. European shares dipped owing to sovereign debt concerns but ended off session lows. Most Asian markets are trading higher, which makes it pretty predictable for Indian indices to gain at the opening bell. Thereafter, the market could turn sideways and the key indices might trade in a narrow band.
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