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Thursday, November 11, 2010
Sensex closes 286.62 points lower; DLF, JP Associates plunge
Indian markets continued to fall for the second day on Thursday. The Indian stock market witnessed a sharp decline today led by heavyweights Reliance Industries, ICICI Bank and Housing Development Finance Corporation. Aggressive selling pressure dragged Nifty below 6,200 mark. Realty, oil & gas, teck and PSU was badly hit in the sectoral space.
BSE Bulk Deals to Watch - Nov 11 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
11/11/2010 530513 Accurate Trans HARISH CHERUKURI B 45520 116.85
11/11/2010 530513 Accurate Trans PRADEEP KR AGGARWAL S 45270 116.85
11/11/2010 505216 Alfred Herbert RAGHVENDRA MOHTA B 5106 217.61
NSE Bulk Deals to Watch - Nov 11 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
11-NOV-2010,3IINFOTECH,3i Infotech Limited,BNP PARIBAS ARBITRAGE,BUY,1500000,71.31,-
11-NOV-2010,ALOKTEXT,Alok Industries Limited,ADROIT SHARE & STOCK BROKER PVT. LTD.,BUY,4834615,34.11,-
11-NOV-2010,ALPSINDUS,Alps Industries Ltd.,MULTIPLIER S AND S ADV PVT LTD,BUY,245065,10.95,-
Sensex slumps on sudden sell-off
The Indian indices close the session on a weak note on the back of sudden sell-off in the index heavyweights and negative global markets
Major headlines
DLF Q2 consolidated net profit dips marginally; the stock closes 4.41% lower
Ranbaxy Laboratories Q3 consolidated net profit surges 169% yoy; the stock closes lower by 3.16%
Food inflation eases to 12.3%
Turnover jumps
Nifty November 2010 futures below 6,300
Nifty November 2010 futures were at 6,237, at a premium of 42.75 points over spot closing of 6,194.25. Turnover in NSE's futures & options (F&O) segment jumped to Rs 125099.27 crore from Rs 85326.81 crore on Wednesday, 10 November 2010.
Power Grid - retail response still poor
Qualified Institutional Buyers (QIBs) 18.52
Non Institutional Investors 1.63
Retail Individual Investors (RIIs) 0.72
DLF tumbles in a weak market
A broad based sell off was witnessed in key benchmark indices on Thursday as investors remained cautious ahead of the outcome of meetings of G-20 world leaders in South Korea on Thursday and Friday. The market fell for the second straight day. US index futures edged lower. Index heavyweight Reliance Industries declined. Telecom, banking, IT FMCG and capital goods stocks fell. DLF slumped more than 4% on poor Q2 result. The market breadth turned weak from strong breadth seen earlier in the day. All the sectoral indices on BSE fell. The BSE 30-share Sensex was down 286.62 points or 1.37%, off close to 345 points from the day's high up close to 45 points from the day's low.
Precious metals turn pale
Sheds most of its prior day's gains as margin requirements tighten
Precious metal prices dropped from their recent historic highs on Wednesday, 10 November 2010. Strong dollar and reports of tighter margin requirement for silver pricing acted as the dampener for the recent upsurge in bullion metal prices. Precious metals have been striking new records since past few days trended following last week's confirmation of a new round of quantitative easing.
Grey Market Premiums - Power Grid, Gravita
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Gravita India Ltd. | 120 to 125 | 29 to 30 |
| Power Grid Corporation | 85 to 90 | --- |
Market may open flat to marginally lower; food inflation data eyed
The market may open flat to marginally lower. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could fall 5 points at the opening bell. Most Asian stocks rose.
Cipla and Ranbaxy Laboratories will announce their quarter ended September 2010 results today.
Flat start on cards
The domestic markets are expected to begin the session on a flat note, tracking the mixed Asian markets. The weekly inflation numbers are to be released later today
Headlines for the day:
Infosys seeks $500 million acquisition in Japan
GMR Infrastructure to sell InterGen stake by March
Aditya Birla group eyes overseas mines
Daily News Roundup - Nov 11 2010
Indiabulls Real Estate has paid the first tranche of Rs9.9bn to NTC for a 10.5acre plot in Worli, Mumbai. (ET)
An increased production from Cairn India’s Mangala oilfield in Barmer is set to increase royalty burden payment for ONGC. (BS)
Tata Motors to give its 70,000-plus Nano customers the option of having additional protection in the car's exhaust and electrical systems free of cost. (BL)
Sensex drifts lower in listless session
The Indian market ended another insipid day with modest losses on Wednesday as weak Asian and European markets weighed on the sentiment. US stocks had also closed in the red on Tuesday.
"The benchmark stock indices continued to remain rangebound and are unable to find any specific direction after last week’s strong rally. Globally too, equities have struggled this week as the dollar has strengthened against major rivals", says Amar Ambani, Head of Research (India Private Clients) - IIFL.
Measured movement
That said, the intermediate trend remains up and the Sensex and the Nifty will take out previous record peaks sooner than later. The Nifty is expected to trade in a range of 6200-6400 in the near term. A break in the current pattern is likely if the Nifty breaches the range on either side.
A strong conviction that something must be done is the parent of many bad measures. - Daniel Webster.
Power Grid FPO Subscription Details - Nov 10 2010
Qualified Institutional Buyers (QIBs) 7.03
Non Institutional Investors 0.16
Retail Individual Investors (RIIs) 0.24
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