Weekly Review - Nov 29 2010
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Monday, November 29, 2010
Daily Grey Market Premiums - Nov 29 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| R.P.P. Infra Projects Ltd. | 75 | 2 to 2.50 |
| Claries Life science | 228 to 235 | 18 to 20 |
| Manganese Ore Ltd. | 340 to 375 | 205 to 215 |
| Shipping Corporation | 135 to 140 | -- |
| One 97 Communication | - | -- |
Loan scam worries linger, -ve start likely
Indian markets are likely to start the session on a negative note following the global peers. Real estate and banking stocks would still continue to trade in pressure.
Headlines for the day:
HDFC chalks out a major foray into education
GMR to sell InterGen stake for $1.23 billion
ITC may pick up 60% in JV with Nitesh Estates
Daily News Roundup - Nov 27 2010
Reliance Industries plans to boost gasoline and diesel exports after restarting units shut for maintenance. (ET)
The Income Tax department surveys premises of GlaxoSmithKline, Piramal Healthcare and Wockhardt. (ET)
Environment Ministry has issued show-cause notices to Lavasa Corporation and Jindal Steel and Power for flouting green norms in their projects. (BL)
Sensex survives scam scare...Ends slightly down
Indian markets extended their losing streak to the fourth straight trading session and third consecutive week as investors remained worried about the fallout of the bribes-for-loans scam on the banking system and the real estate market. Today’s fall was led by persistent selling in Realty, Metals and Power stocks. The broader indices were among the worst hit today amid reports that brokers were offloading clients' shares to make up for the shortfall in margins. However, the BSE as well as the NSE clarified that there was no margin default on the part of any broker and that the trades were being settled on time.
Seeking redemption
Stability is not immobility. - Klemens Von Metternich.
After the mayhem of last week, the market will look to find some stability. The bulls will try their best to put the bribes-for-loans scam behind, but whether they are successful remains to be seen. A mix of domestic and global headwinds will continue to cast a shadow on the sentiment.
Market may extend losses on negative global cues
The market is likely to extend a four-day declining trend on weak global cues. Asian markets were trading lower amid rising worries over euro zone debt crisis. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate a flat opening.
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