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Tuesday, November 09, 2010

India Strategy - QE2, SBI, IDFC, Aban Offshore

India Strategy - QE2, SBI, IDFC, Aban Offshore

Daily Market Outlook - Nov 10 2010

Daily Market Outlook - Nov 10 2010

Daily Technical Report - Nov 9 2010

Daily Technical Report - Nov 9 2010

Daily Fundamental Report - Nov 9 2010

Daily Fundamental Report - Nov 9 2010

Nifty settles above 6,300 mark; HUL surges

Indian markets made a smart recovery at close helped by good response to Power Grid FPO. It once again managed to to close above 6,300 recording a modest gain. FMCG, Realty and IT sector were in the limelight, while Oil & Gas and PSU indices were the sole losers.

Nifty above 6300 in choppy trade

The Nifty shuts the choppy session in green and settles above 6300 mark as strong European indices lifted the sentiments along with buying in FMCG, IT and realty stocks

Major headlines

State Bank of India declines on disappointing Q2 results; the stock closes 4.40% lower

Thermax buys European boiler maker; the stock ends 1.70% down

Ramco Systems wins order from Gulf Petroleum; the stock closes 4.98% higher

Going gets tough for Asia

Markets end mostly lower as the weak cues from the US markets and continued worries over the world economic conditions take their toll

Asian markets ended mostly lower today as the weak cues from the US markets and continued worries over the world economic conditions kept the buyers aside and investors booked profits after the latest gains. Dollar rallied in the Asian session, adding to the recent gains before giving up in late trades. Gold also struck fresh highs above $1400 an ounce as traders eyed resurfacing worries over the Eurozone PIIGS. The world's largest economies should consider gold as an indicator to help set foreign exchange rates, the head of the World Bank said on Monday, indicating that the world could be leaning towards a serious currency crisis. US stocks ended lower yesterday amid lack of major news. Dow closed down by 37.24 points or 0.3% to 11,406.84.

BSE Bulk Deals to Watch - Nov 9 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
9/11/2010 530513 Accurate Trans PRADEEP KR AGGARWAL B 30825 120.84
9/11/2010 532351 Aksh Optifibre DEUTSCHE BANK AG S 1040000 25.18

NSE Bulk Deals to Watch - Nov 9 2010

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
09-NOV-2010,BSTRANSCOM,BS TransComm Limited,NITIN BABAJI PALANDE,BUY,806492,247.01,-
09-NOV-2010,BSTRANSCOM,BS TransComm Limited,RAJ FINVEST,BUY,376881,248.16,-
09-NOV-2010,BSTRANSCOM,BS TransComm Limited,SAFFRON FINANCE LIMITED,BUY,427821,228.58,-

Power Grid Corporation of India FPO Analysis

Powering India

Due to jump in commissioning of projects, there will be accelerated growth in the short term and steady growth thereafter

Power Grid Corporation of India (PGCIL), a mini ratna public sector undertaking under the ministry of Power, is the country's central transmission utility (CTU). The company owns and operates more than 95% of India's interstate and interregional electric power transmission systems (ISTS). As principal electric power transmission company of the country, it owns and operates 79,556 circuit kilometers of electrical transmission lines and 132 electrical substations as end of Sep 30, 2010.

Market edges higher on firm global stocks; SBI slumps

The key benchmark indices eked out decent gains in a choppy trading session on Tuesday tracking firm European stocks and as US index rose. The storng response to Power Grid Corporation of India's FPO which was fully subscribed on the very first day of its bidding also aided sentiment. Consumer durables, realty, FMCG and IT stocks rose. But, index heavyweight Reliance Industries edged lower in volatile trade. The market breadth was strong. State Bank of India slumped more than 4% after weak Q2 result. Capital goods stocks fell. The BSE 30-share Sensex was up 80.10 points or 0.38%, off close to 50 points from the day's high and up close to 170 points from the day's low. Tata Motors hit record high ahead of its Q2 result today.

Precious metals strike historic highs

Prices show no sign of easing despite a strong dollar

Precious metal prices finished at historic highs on Monday, 08 November 2010. Despite a strengthening dollar, precious metals trended higher on momentum following last week's confirmation of a new round of quantitative easing.

Market may fall for the second straight day on weak Asian stocks

The market may extend losses for the second straight day tracking weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could fall 3 points at the opening bell.

Daily Newsletters - Nov 9 2010

Daily Newsletters - Nov 9 2010

Investors may exit SBI on weak results

On a consolidated basis, State Bank of India's net profit fell 22.52% to Rs Rs 2363.95 crore on 14.57% increase in total income to Rs Rs 37925.44 crore in Q2 September 2010 over Q2 September 2009. State Bank of Indore merged with State Bank of India with effect from 26 August 2010. Hence, the results for the quarter ended 30 September 2010 is not comparable with the corresponding period of the previous year.

Daily Market Outlook - Nov 9 2010

Daily Market Outlook - Nov 9 2010

Daily Calls - Nov 9 2010

Daily Calls - Nov 9 2010

Daily News Roundup - Nov 9 2010

Reliance Industries telecom arm, Infotel is in talks to borrow an additional US$1.5bn to fund roll out of operations and buying equipment. (ET)

Glenmark Pharmaceuticals is close to becoming the first Indian company to develop an original novel chemical entity (NCE) to treat diseases. (BS)

Sensex drifts lower...Nifty ends below 6300

After closing at news highs in the Diwali week, the bulls decided to take a breather, with the Indian indices ending in the red at the start of the week. PSU, IT and the Consumer Durables were among the major laggards. Even the broader indices were under pressure. On the other hand, Pharma and Realty stocks bucked the negative trend.

Gold glows, stocks slow

The war of words continues over currency and trade imbalances ahead of the G-20 summit. US president Obama joined the chorus even as China expressed its displeasure on the latest Fed move. The principle downward trend of the dollar has not changed.

Strength is just an accident arising from the weakness of others.- Joseph Conrad.

SGX Nifty Live Update - Nov 9 2010

6,297.50 -3.00

Markets set for a cautious start

The Indian equities may have a cautious start mirroring the mixed Asian markets and decline in US markets. The FPO offer of Power Grid Corporation opens for bidding today

Headlines for the day:

Oil PSUs raise petrol price by 31 paise

India, US to set up $10-billion infra debt fund

3i India, partners invest Rs1,200 crore in GVK Energy