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Sunday, November 07, 2010
Power Grid FPO priced at 85-90
The government today fixed price band at Rs 85-90 per share for about Rs 7,600 crore follow-on public offer (FPO) of state-run transmission company Power Grid Corporation of India.
Sensex, Nifty dazzle...Rise 4% in the week
It was fireworks on the eve of Diwali as bulls took the indices to a new closing high. For the week, the BSE Sensex and NSE Nifty zoomed over 4% each to close at new all time highs of 20,894 and 6288 respectively. Market players seemed to have digested the rate hike in key interest rates by the RBI. In addition, the latest dose of liquidity injection from the Federal Reserve in an attempt to lift the US economy out of a deep slumber was cheered by world markets. And of course, Coal India's listing turned out to be the icing on the cake for the local bourses.
Coal India is Gold India, stay with it: Govt to investors
The government on Sunday advised investors to stay put with Coal India (CIL) to multiply their fortunes and compared the strengths of the company with gold, which is considered the best long-term bet to create wealth.
Fireworks likely to continue
The markets are likely to continue the upward march in the coming week given the positive breakout on the daily charts. The Nifty has immediate support at 6,300, which should be seen a key level for the markets to trade higher.
Reliance Communications - BUY
Broking firm PINC Money has recommended Reliance Communications as stock of the week with target price of Rs 215 - 220 in 2-3 months as against current market price (CMP) of Rs 182.
35 Diwali Picks
Following are Diwali Mahurat picks from different brokers:
Anagram
Anagram Stock Broking, in its Diwali Mahurat trading note, has recommended 7 fundamental stocks where it remains positive over the next 6-12 months and also gives a technical perspective of 5 stocks where it expects good upside potential in the short term.
Allied Digital Services
Investors with a two-year horizon can buy the shares of Allied Digital Services, a provider of IT infrastructure management and technical support outsourcing services.
Strong growth in its high-margin services business, a healthy domestic presence in the solutions segment and deal-wins from the US that continue to accrue from its acquisition of En Pointe Global, are key positives.
Power Grid FPO
PowerGrid is the only transmission player that may enjoy a scarcity premium in this business. However, returns may be moderate, given the defensive nature of the stock.
Investors with a three-four year horizon can consider subscribing to the follow-on public offer of Power Grid Corporation. PowerGrid, the central transmission utility, wheels more than half the total power generated by power utilities in India.
Labels:
FPO,
Power Grid Corporation,
Research Report
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Maruti Suzuki Ltd
Investors can continue to hold the Maruti Suzuki stock. At the current market price of Rs 1,514, it trades at a PE of 18 times its trailing 12-month earnings. Fresh exposures need not be considered at this point in time, as buoyant automobile sales and capacity de-bottlenecking notwithstanding, Maruti has found it difficult to transfer the topline growth to the bottomline in the first and second quarters.
Maharashtra Seamless Ltd
Investors could consider picking up shares in pipe-maker Maharashtra Seamless whose valuation relative to peers looks attractive thanks to relatively higher margins, superior product mix and low debt. The stock trades at Rs 424, which discounts the trailing 12-month earnings by about nine times. It trades at a discount to peers such Jindal SAW and Welspun Corp.
Saturday, November 06, 2010
U.S. market continues rally for the fifth day after payrolls report
U.S. equity markets closed slightly higher after trading in a tight range on Friday, 5 November 2010, extending gains for fifth day in row, supported by pleasant employment number, although gains were limited as many of the investors taking breather a day after surging to two-year highs even as better than expected U.S. jobs report.
Rakesh Jhunjhunwala Interview
This is Samavat 2067. Udayan Mukherjee, Managing Editor of CNBC-TV18 caught lucky mascot of the Indian bull markets Rakesh Jhunjhunwala reminiscing about the past year. Jhunjhunwala also shared his thoughts on what he expects the next year to be like.
Key Q2 results, economic data in focus
Some key September 2010 results and economic data are in focus next week. The market will also eye announcements during US President Barack Obama's three-day India visit from Saturday, 6 November 2010 to Monday, 8 November 2010.
Market surges on robust FII inflows
Street witnessed a festive boost last week. The market surged on US Federal Reserve's decision to buy $600 billion in government bonds to stimulate the US economy, robust corporate earnings and on sustained buying by foreign funds.
Friday, November 05, 2010
Samvat 2067 begins on an upbeat note as market scales record closing high
It was a Diwali bonanza for stock market investors as the key benchmark indices scaled record closing highs during the special 45-minute Muhurat trading session held today, 5 November 2010, to mark the begging of the Samvat Year 2067. After a strong start, the market pared gains. Index heavyweight Reliance Industries (RIL) and Larsen & Toubro reversed initial gains. Another indecx heavyweight ICICI Bank also pared gains. The BSE 30-share Sensex jumped 111.39 points or 0.53% to 21,004.96, off close to 100 points from the day's high. All the sectoral indices on BSE were in green. The market breadth was strong.
Food and fuel inflation softens
India's food inflation, based on the annual Wholesale Price Index (WPI), eased in the penultimate week of October, Government data showed. However, food inflation is still pretty high, justifying the RBI's decision this week to hike policy rates for the sixth time this year. Inflation for the Food Articles group stood at 12.85% in the week ended October 23, lower that the previous week's annual rise of 13.75%, the Commerce & Industry Ministry said today. Inflation in Food Articles group was at 12.87% in the year-ago period. The index for Food Articles group declined by 0.2% to 179.1.
Samvat 2067…New highs await Dalal Street
The main indices flirted close to their highs in Oct ’10 but sudden tapering of FII flows coupled with continuous selling by local funds put the brakes on the bulls. The earlier years have been more dramatic from the indices movement point of view. If you recall in Oct ’08 the BSE Sensex was hovering around 9,000 levels. This was the time the global markets were hit by the collapse of Lehman Brothers. The worldwide financial meltdown was followed by one of the worst recessions in several decades. A year later the Sensex staged a turnaround and rose to a 17-month high around 17,500. At present the Sensex is around the 20,800 levels, near a 33-month high. The rise from Samvat 2066 till this Diwali has seen some swings but in terms of gains the Sensex has added ~18%. From 17,000 levels last Diwali, the Sensex fell to a low of 15,330 in Nov ‘09 and hit a high of over 20,850 in Oct ’10.
Weekly Newsletter - Nov 5 2010
It was Diwali Dhamaka on the street as investors seem to have shrugged off the latest rate hike by the RBI and at the same time cheered fresh monetary stimulus from the US Federal Reserve. Coal India's phenomenal listing was the icing on the cake, coming as it did on the eve of Diwali. A premium listing was always expected but a close at Rs 342 was not really anticipated. With Thursday's stunning rally, the key indices are once again within striking distance of the all-time highs. So, naturally all eyes will be glued on the trading screens to see if they can advance further and touch new historic highs. If world markets are supportive the Sensex and the Nifty may well scale new peaks. That's the happy thought we would like to leave you with.
Wish you a happy and prosperous New Year.
Fed unveils new US$600bn bond purchase program
The Federal Reserve announced plans to pump hundreds of billions of dollars into the US financial system in yet another unconventional effort to try and jolt the US economy out of a deep slumber. The Fed will, in effect, print money to buy Treasury bonds worth an additional US$600bn by June 2011 in a bid to lower long-term interest rates and avoid deflation. The action should make it cheaper for Americans to borrow money, take out mortgages or refinance their houses, and for businesses to borrow funds in order to expand. But the big question remains whether they will take the bait or not.
RBI ups rates again...But hints at a pause
The Reserve Bank of India (RBI) hiked the repurchase rate (repo rate) and the reverse repurchase rate (reverse repo rate) by 25 basis points (bps) each as part of its efforts to rein in spiraling inflation in a fast-growing Indian economy. The repo rate now stands at 6.25% while the reverse repo rate has increased to 5.25%. The bank rate and the cash reserve ratio (CRR) have been left unchanged at 6% each. The RBI left the FY11 GDP growth forecast unchanged at 8.5% while inflation target (based on new WPI series) for the current year has also been kept unchanged at 5.5%. Inflation target as per the old WPI series has been left untouched at 6%.
Thursday, November 04, 2010
BSE Bulk Deals to Watch - Nov 4 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
4/11/2010 590116 7SEAS TECH JMP SECURITIES PVT LTD B 32500 70.10
4/11/2010 590116 7SEAS TECH JMP SECURITIES PVT LTD S 32510 70.32
4/11/2010 590116 7SEAS TECH MEENU JAINBHANSHALI S 71612 70.38
4/11/2010 531897 Accentia Tech HERBERT JAY CANE S 100000 286.86
NSE Bulk Deals to Watch - Nov 4 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
04-NOV-2010,ARCHIES,Archies Limited,RAHUL DOSHI,BUY,302254,46.46,-
04-NOV-2010,DWARKESH,Dwarikesh Sugar Industrie,RELIANCE MUTUAL FUND,BUY,198700,101.51,-
Adieu Samvat 2067: Markets at all-time high
The domestic markets sign off the Samvat 2067 on a sensational note, touching an all-time high owing to buoyant world markets and stellar listing of Coal India
Major headlines
Coal India enters stock markets with a big-bang; the stock ends 39.73% higher
Food inflation eases to 12.85%
Engineers India Q2 profit up 14% yoy; the stock closes 0.01% lower
Fed Boost Buoys Asia
Regional benchmarks take heart from the Federal Reserve's plan to buy $600 billion in government bonds
Asian markets edged higher today, rallying in tune with the optimism spurred in the risky assets from the US Federal Reserve's plan to buy $600 billion in government bonds in an effort to inject life into the faltering U.S. economy. US dollar depreciated and the commodity prices rallied on ideas that continued flow of liquidity on the global front would help keep momentum well supported for the risky assets. US stocks rose yesterday after the Fed said it would buy $75 billion in Treasury bonds per month through the middle of next year. The Dow Jones industrial average rose 26.41 points, or 0.2 percent, to 11,215.13, the highest close in two years following the Fed statement.
Key Q2 results, economic data in focus
Some key September 2010 results and economic data are in focus next week. The market will also eye announcements during US President Barack Obama's three-day India visit from Saturday, 6 November 2010 to Monday, 8 November 2010.
Market surges on robust FII inflows
Dalal Street witnessed a festive boost last week. The market surged on US Federal Reserve's decision to buy $600 billion in government bonds to stimulate the US economy, robust corporate earnings and on sustained buying by foreign funds.
Coal India closes up nearly 40% on debut
It becomes the fourth largest firm in terms of market capitalization
A large pent up demand in its initial public offer (IPO) sent shares of Coal India (CIL) surging on its debut on the secondary equity market today, 4 November 2010. The stock settled at Rs 342.35 on BSE, a 39.73% premium over the IPO price of Rs 245. The stock settled close to the day's high of Rs 344.75. Retail investors have more to cheer as they got shares in the Coal India IPO at 5% discount to the IPO price.
Diwali bonanza for investors as Sensex strikes record closing high, Coal India soars on debut
It was a double dhamaka for stock market investors on Diwali eve. The barometer index BSE Sensex struck a record closing high and shares of state-run Coal India jumped on debut as stocks rose across the globe after the US Federal Reserve's decision to buy $600 billion in government bonds to stimulate the US economy. Good Q2 September 2010 results, sustained buying by foreign funds, and data showing easing food inflation in late October 2010, underpinned sentiment. Index heavyweight Reliance Industries (RIL) surged.
Daily News Roundup - Nov 4 2010
GAIL and Petronet LNG are looking to pick up stake in LNG projects in Nigeria to secure supplies for the country’s rising energy needs. (BS)
GAIL plans to invest Rs80bn during 2011-12, a 30% increase over the current year’s spending of Rs62bn. (BS)
IDBI Bank has raised it deposit rates by 10-50bps across maturities. (BS)
Sensex advances on all round buying
The Indian markets managed to garner smart gains on Wednesday on the auspicious occasion of ‘Dhanteras’, which is synonymous with wealth and prosperity. The benchmark India stock indices opened with a positive bias following the overnight gains on Wall Street and European markets. Firm trend across other Asian markets at start also helped support the positive sentiment.
Brightness on the bourses!
Money is like a sixth sense and you can't make use of the other five without it - William Somerset Maugham.
Overall, the trend for the day appears bright. Investors are likely to get wealthier and prosperous on the eve of Diwali. We expect 6130 to be the near-term support while resistance is seen around 6230.
Markets expect a strong start; Coal India eyed
The Indian indices are set to open the session on a higher note mirroring the buoyed Asian markets. The listing of Coal India shares will remain in focus
Headlines for the day:
CESC seeks Rs1,000 crore PE infusion
GAIL, Petronet eye stake in Nigerian LNG projects
Bharti's JV firm opens processed food R&D, manufacturing unit
Market may jump on Fed's stimulus plan; food inflation data eyed
The market may extend Wednesday (3 November 2010)'s gains on firm Asian stocks following the Fed's move to buy $600 billion in bonds to stimulate the economy. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could gain 40 points at the opening bell.
Wednesday, November 03, 2010
BSE Bulk Deals to Watch - Nov 3 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
3/11/2010 523120 Ador Multi RAHUL DOSHI B 56266 43.64
3/11/2010 523120 Ador Multi RAHUL DOSHI S 67832 42.72
3/11/2010 523120 Ador Multi SUSHMA AGRAWAL S 14806 41.30
NSE Bulk Deals to Watch - Nov 3 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
03-NOV-2010,ABGSHIP,ABG Shipyard Limited,ABG INTERNATIONAL PVT.LTD,BUY,350000,472.78,-
03-NOV-2010,ANTGRAPHIC,Antarctica Graphics Ltd,SHIBU ABRAHAM,BUY,940000,0.45,-
03-NOV-2010,ARCHIES,Archies Limited,RAHUL DOSHI,BUY,265021,46.25,-
03-NOV-2010,ASIANELEC,Asian Electronics Ltd,SETU SECURITIES LTD,BUY,1045566,27.76,-
03-NOV-2010,ASIANELEC,Asian Electronics Ltd,SETU SECURITIES PVT LTD,BUY,700000,27.05,-
Markets resume uptrend on ‘Dhanteras’
Major headlines
JSW Steel Oct crude steel output up 23% yoy; the stock closes 0.05% lower
GAIL Q2 net profit jumps 29.5% yoy; the stock ends 0.13% higher
Fortis Healthcare surges on strong Q2 results; the stock closes higher by 1.43%
Gravita India IPO Subscription Details
Qualified Institutional Buyers (QIBs) 6.04
Non Institutional Investors 182.52
Retail Individual Investors (RIIs) 37.34
Gravita India IPO subscribed 41 times
Gets bids for 14.86 crore shares
The initial public offering (IPO) Gravita India, a manufacturer of lead metal, received a strong investor response. The IPO was subscribed 41.28 times by 17:00 IST on the last day of the issue today, 3 November 2010, data on NSE showed. The IPO got bids for 14.86 crore shares compared with 36 lakh shares on offer.
Market drifts higher ahead of Fed meet
Banking, metal and PSU shares led modest gains on the domestic bourses today, 3 November 2010, a day after the central bank on Tuesday, 2 November 2010, signaled a pause in its policy tightening drive that began in October 2009. The BSE 30-share Sensex jumped 120.05 points or 0.59%, up close to 40 points from the day's low and off close to 70 points from the day's high. Good Q2 September 2010 results and sustained buying by foreign funds underpinned sentiments.
Grey Market Premiums - Nov 3 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Coal India | 245.00 | 38 to 40 |
| Gravita India Ltd. | 120 to 125 | 20 to 22 |
Market seen opening firm on positive global cues
The market may edge higher on positive global cues. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could advance 36 points at the opening bell.
Daily News Roundup - Nov 3 2010
A consortium of India’s top state owned energy firms led by ONGC, is in talks to acquire a 25% stake in Australia’s Advent Energy for around US$1bn. (ET)
ONGC plans to invest over US$10bn to develop its new gas field in the KG basin for production. (FE)
Power ministry has favoured allocation of gas from Reliance Industries' KG-basin block to NTPC and will push for the same in the inter-ministerial meeting next week. (ET)
Swinging Sensex ends flat
The key Indian stock indices ended almost unchanged at the end of a choppy session. The market opened with a positive bias and managed to recover for a brief period post the RBI rate hike which was on expected lines. However, the indices retreated from day's high and turned volatile before closing flat.
Strong start likely for markets
The Indian markets are expected to begin the session on a positive note tracking the worldwide rally
Headlines for the day:
SpiceJet to buy aircraft for $900 million
Banks likely to hike home loan rates by January
Vedanta gives Rs10 crore bank guarantee to state pollution board
Prosperity on the Street
Prosperity is a way of living and thinking, and not just having money or things. - Eric Butterworth.
Prosperity and well being is the theme of the day on the occasion of Dhanteras. We expect a higher start following a positive finish on Wall Street and in Europe.Asian markets are mixed. Markets in Japan are shut. Whether early gains will be held remains to be seen. The market could turn up again, provided there are no nasty surprises on the external front.
US stocks secure gains ahead of Fed's decision
Depot leads the gains among Dow components
Bulls voted for US stocks on the second trading day of November 2010 and stocks ended the day with good gains on Tuesday, 02 November 2010. Though indices pared some of their intra day gains, commodities led by materials took stocks higher as the dollar eased today. There was no economic report expected today but market participants waited eagerly for the result of the mid term elections that were scheduled to be published later in the day. Other than that, traders mulled over Federal Reserve's latest meeting that began today and looked forward to any steps that will be announced tomorrow regarding quantitative easing.
Copper rises for second straight day
Weak dollar pushes up prices
Copper prices ended higher for second straight day on Tuesday, 02 November at Comex. Weak dollar pushed prices higher.
Precious metals shine
Dollar weakness props up precious metals
Weakness in the dollar propped up precious metals on Tuesday, 02 November 2010. Anticipation among traders regarding Fed's moves on quantitative easing this week also took precious metals higher.
Crude at six-month highs
Prices rise as dollar plunges
Crude prices jumped to six-month highs on Tuesday, 02 November 2010 at Nymex. Weakness in the dollar propped up crude prices. Positive global data also pushed up prices.
Tuesday, November 02, 2010
Coal India Grey Market Premium before Listing!
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Coal India | 245.00 | 36 to 37 |
| Gravita India Ltd. | 120 to 125 | 21 to 22.50 |
Labels:
Coal India,
Grey Market,
IPO Grey Market Premium
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Coal India Listing Date - November 4 2010
| Symbol | COALINDIA |
| Name of the Company | Coal India Limited |
| Series | EQ |
| ISIN | INE522F01014 |
| Face Value | Rs.10/- |
| Paid-up Value | Rs.10/- |
| Issue Price for the current public issue | Rs. 245/- (a discount of 5% has been given to retail category and eligible employees) |
| Security Description | Equity shares of Rs.10/- each fully paid up |
| No. of securities | 6316364400 |
| Distinctive number range | 1 To 6316364400 |
| Market lot | 1 |
| Pari Passu | Yes |
Sensex falls marginally ignoring RBI policy; Realty hit most
A benchmark index for Indian equities on Tuesday closed the choppy session on a flat note as traders consolidated their portfolios after a two-day rally. D Subbarao governor of the Reserve Bank of India (RBI) announced a hike of 25 basis points in the repo and reverse repo rates in the mid-year review of its credit policy. The CRR however has been left untouched at 6%.
RBI’s move in sync; Markets end flat
Major headlines
Reserve Bank of India raises repo, reverse repo rate by 25 bps
Bajaj Auto sales up 31% in October; the stock ends 1.07% up
ABG Shipyard bags export order; the stock closes 0.45% higher
BSE Bulk Deals to Watch - Nov 2 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
2/11/2010 530901 ACIL Cot Inds CHANDRAKANT R SANGLIKAR S 101940 27.67
2/11/2010 523120 Ador Multi RAHUL DOSHI B 25000 37.73
NSE Bulk Deals to Watch - Nov 2 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
02-NOV-2010,ABGSHIP,ABG Shipyard Limited,ABG INTERNATIONAL PVT.LTD,BUY,400000,480.05,-
02-NOV-2010,ABGSHIP,ABG Shipyard Limited,GLOBAL VISION SECURITIES PRIVATE LIMITED,BUY,267038,478.89,-
Realty shares slide as RBI tightens norms on housing loans
The key benchmark indices were little changed at close after undergoing intraday volatility. With the Reserve Bank of India (RBI) today, 2 November 2010, signaling a pause in its policy tightening drive that began in October 2009, the focus has now shifted to the two-day US Federal Reserve policy meeting that concludes on Wednesday, 3 November 2010. The BSE 30-share Sensex was down 9.94 points or 0.05%, off close to 70 points from the day's high and up close to 65 points from the day's low. European markets and US index futures were trading firm and most Asian stocks edged higher.
Daily News Roundup - Nov 2 2010
RIL raises polyester yarn prices by Rs3 from Nov1, 2010. (FE)
Religare Enterprises is in advance talks to buy 60% stake in Ajay Piramal’s private equity and fund management venture - Indiareit Fund Advisors for Rs1.8bn. (BS)
HCL Tech and multinational distributor of IT products, Ingram Micro are in talks to buy a controlling stake in Sonata Software. (BS)
Sensex snaps 4-day losing streak…Nifty reclaims 6100
Bulls were back on Dalal-Street starting off the Diwali week on an optimistic note. The benchmark indices started off with a gap up opening, on the back of overnight gains in the US. As the day progressed, key indices gradually climbed higher. The Banking and the realty stocks were among the major gainers. Even the broader indices participated in today’s rally.
Events begin, caution sets in
The RBI is likely to hike policy rates for the sixth time in a bid to contain high inflation. But, since the markets are prepared for the move, it may not have a material impact. What the RBI officials say will be followed closely.
Monday, November 01, 2010
Muhurat Trading Session - Samvat 2067 - Nov 5 2010
| Session | Start Time | End Time |
| Call Auction | 06 : 00 p.m. | 06 : 15 p.m. |
| Continuous Trading | 06 : 15 p.m. | 07 : 00 p.m. |
| Closing | 07 : 00 p.m. | 07 : 10 p.m. |
China effect pushes Asia higher
Dollar slides, commodity prices soar on the first session of the week
Asian markets ended mostly higher today as the global risk appetite stayed strong amid falling US dollar and strong commodity prices. Investors eyed the strong pick up in China's purchasing managers' index and looked ahead for possible new monetary stimulus from the U.S. Federal Reserve, which would keep the global liquidity conditions easy. The Fed is expected to unveil a new round of bond purchases, also known as quantitative easing, at this week's policy-setting meeting on November 2-3 to bolster the economy. The US Stocks were little changed in the last session. Dow rose 4.54 points to 11,118.49 After the US Commerce Department said that gross domestic product increased at an anemic annual rate of 2.0% in the third quarter following the 1.7% growth that was seen in the second quarter.
Banking stocks on a roll ahead of RBI policy meet
The key benchmark indices started the week and the month on a buoyant note logging strong gains as latest data showing surge in manufacturing activity in October 2010, good Q2 September 2010 results, and firm global stocks boosted investor sentiments. The BSE 30-share Sensex jumped 323.29 points or 1.51%.
Pre Market Commentary - Nov 1 2010
In the last trading session, Nifty rebounded smartly on the back of better than expected earnings report by ICICI bank and BHEL and closed above 6,000 level. Now, immediate resistance for Nifty comes at 6,080 and moving and sustaining above will recheck 6,125 level while immediate bigger support comes at 5,980 and break below 5,980 levels could drag Nifty to 5,920-5,950 on the downside. Further, on derivative front, aggressive buying in OTM call and writing in OTM put is indicating an upward trend in market.
Market set for upbeat start on firm Asian stocks
The market is geared for a strong start on a rally in Asian stocks triggered by strong Chinese manufacturing data. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could advance 60 points at the opening bell. Cement, auto and steel companies will be in focus as firms in these sector announce their sales figures for the month of October 2010. Quarterly earnings from index heavyweight Reliance Industries unveiled on 30 October 2010 were in line with market expectations.
Precious metals witness strong weekly and monthly gains
Silver registers third consecutive healthy monthly gains
Precious metal prices registered strong gains for the month of October 2010. Prices ended with modest gains on the last trading day of October, Friday, 29 October 2010 at Comex. Anticipation among traders regarding Fed's moves on quantitative easing next week took precious metals higher. The dollar also softened on Friday.
Crude ends marginally lower
Natural gas vaults substantially during the week
Crude oil prices ended lower on Friday, 29 October 2010 at Nymex. Somber economic data and steady dollar pushed prices lower.
Gravitas India Grey Market Premiums
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Coal India | 245.00 | 38 to 40 |
| Gravita India Ltd. | 120 to 125 | 20 to 22 |
Sensex head towards a strong start
The domestic indices are likely to start the session on a strong note on the back of positive Asian markets
Headlines for the day:
Government sees 3G auction as model for other sectors
Mahindra likely to bag Ssangyong by March
RIL to invest $5 billion in US shale assets in next 5 years
Daily News Roundup - Nov 1 2010
Norwegian government has offered ONGC a stake in a US$1bn carbon capture storage project at Statoil’s Mongstad oil refinery in Norway. (BS)
Reliance Industries plans to invest around US$15bn in the next five years in its petrochemical business and to develop shale gas assets in the US. (BS)
A consortium led by GSPC and also comprising Indian Oil, HPCL and BPCL, is set to get authorization for three major gas line projects worth 180bn. (BS)
Nice November start!
I guess we all like to be recognized not for one piece of fireworks, but for the ledger of our daily work. - Neil Armstrong.
The fireworks may be missing for now but looks like we are set to start the event-packed Diwali week on a positive note. Most Asian markets are up after China’s official manufacturing PMI expanded at the fastest pace in six months in October. But shares in Japan are down owing to a few disappointing earnings. US and European markets closed flat on Friday.
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