Smart Invest and Smart Trade - Oct 25 2010
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Monday, October 25, 2010
Nifty October 2010 futures at premium
Turnover surges
Nifty October 2010 futures were at 6,137.15, at a premium of 31.35 points over spot closing of 6,105.80. Nifty November 2010 futures were at 6,165, at a premium of 59.20 points over spot closing of 6,105.80.
Asian markets joyous after G20
Most indices gain after global finance ministers and central bankers note that a global economic recovery is under way at an uneven pace
Asian markets mostly went up today, cruising higher as the renewed wave of risk appetite pushed up the commodities and traders eyed the latest G20 statement. The much awaited talks of the G20 meet in South Korea ended yesterday and the Group of 20 finance ministers and central bankers noted that a global economic recovery is under way but uneven, and warned of the need to move toward more “market-determined” currency exchange rates. Growth has been strong in many emerging-market economies, but the pace of activity remains modest in many advanced economies, noted the G20 in a joint communiqué. Dollar slipped following this, as traders eyed for a definite turn towards the much anticipated quantitative easing in the next meet of US Fed.
Market drifts higher on firm global stocks
Initial batch of strong Q2 September 2010 results and firm global markets helped Indian stocks score decent gains in a choppy trading session. Stocks were volatile as traders rolled over positions in the derivatives segment from the near-month October 2010 series to November 2010 series ahead of the expiry of the October 2010 contracts on Thursday, 28 October 2010. Shares of IT bellwether Infosys fell and index heavyweight Reliance Industries came off the day's high. Most Asian markets climbed on expectations that further monetary easing by the US Federal Reserve would boost liquidity in the region.
Nifty bounces back, ends above 6100
Major headlines
Hindustan Unilever Q2 net profit jumps 32% yoy; the stock closes 1.36% higher
Rural Electrification Corporation Q2 net profit surges 25% yoy; the stock ends 2.56% lower
Adani Power Q2 net profit at Rs125.84 crore; the stock closes 0.15% higher
BSE Bulk Deals to Watch - Oct 25 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
25/10/2010 500215 Agro Tech Foods SBI MUTUAL FUND B 757000 310.00
25/10/2010 500215 Agro Tech Foods ITC LIMITED S 1000000 310.00
NSE Bulk Deals to Watch - Oct 25 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
25-OCT-2010,BINDALAGRO,Oswal Chem & Fert Ltd.,OSWAL AGRO MILLS LIMITED,BUY,10013394,21.50,-
Grey Market Premiums - Oct 25 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| B.S. Trans | 248 (Lower) | Discount |
| Prestige Estate | 183 (Upper) | 6 to 7 |
| Gyscoal Alloy | 71 (Upper) | 13 to 14 |
| Coal India | 225 to 245 | 37 to 38 |
Swim with the current
We are expecting a sedate start today, in line with the global trend. US stocks barely advanced on Friday. European markets ended in red. Asian benchmarks are mixed. Going ahead, things might get a bit more volatile due to the F&O expiry.
In matters of style, swim with the current; in matters of principle, stand like a rock. - Thomas Jefferson.
World markets seem to be in a state of limbo right now. Corporate earnings are competing with concerns about economic recovery. For India too the story is no different; the September spark is clearly missing. The Sensex and the Nifty are in a sideways consolidation mode. Fresh fireworks ahead of Diwali look less likely for now.
Daily News Roundup - Oct 25 2010
Sterlite Energy revised the outlay for its proposed power project in Punjab upwards by over Rs30bn, taking the total investment commitment to around Rs130bn. (BS)
Reliance Industries says it plans to shut down one of the crude distillation units at its Jamnagar Refinery for maintenance and inspection. (BS)
Toshiba Mitsubishi-Electric Industrial Systems Corporation is in talks with L&T to build a power drive and motor manufacturing unit in the country. (ET)
Weekly: Up down and flat...Nifty fails to hold 6100
The splendid response to the Coal India IPO boosted the morale of the bulls; as did a few strong corporate earnings. However, momentum failed to last as key indices saw accelerated selling on Friday. Sentiment was also nervous after two consecutive weeks of losses, which dragged down the indices from 33-month highs. Finally the Sensex and Nifty closed the week flat at 20166 and 6066 respectively.
Markets set to start strong
Headlines for the day:
Coal India IPO issue price decision today
General Electric gets Rs10,000 crore order from R-Power
RBI wants lock-in period for FDI in hotels, tourism
LIC Housing Finance, Bajaj Auto, Educomp Solutions, Kotak Mahindra Bank, Power Grid, Sesa Goa, Sobha Developers, TCS, South Indian Bank, Info Edge
US stocks end week on a steady note
Most Dow components exceed earning estimates
US stocks registered modest gains for the week that ended on Friday, 22 October 2010. Earning reports poured in full swing this week and there were quite a few big names that reported earnings including twelve major Dow components. Most of the companies exceeded expectations. Other than that, the economic reports too pained a overall steady picture of the economy.
Strike at oil port push up prices
Stocks fail to ward off weekly losses
Crude oil prices ended higher on Friday, 22 October 2010 at Nymex. Prices rose despite the firm dollar. Continuation of a strike at an important oil port in Southern France impacted prices.
Precious metals drop for second straight day
Prices witness weekly losses in a long time
Precious metal prices dropped for second straight day on Friday, 22 October 2010 at Comex. Prices erased earlier gains and fell as the dollar strengthened. With Friday's loss, gold registered first weekly loss in six weeks.
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