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Wednesday, December 01, 2010
Sensex ends buoyant; Cipla, Tata Steel spurt
Indian equities continued to rise for the third day on Wednesday. The Sensex ended on an optimistic note on the back of strong global cues and relentless buying interest across board. Broader markets outperformed. Metal, PSU, realty, banking stocks were in the limelight. Moreover good auto sales November figures also aided the markets to rally. Finally both indices settled over 1% gain.
Local, global worries weigh on markets in Nov
A slew of negatives - euro zone debt woes, the geopolitical tensions in Korea, housing scam and lower IIP data - weigh on the Indian markets in November
Major news for the month:
Reserve Bank of India raises repo, reverse repo rate by 25 bps
IIP for September at 4.4%, lowest in 15 months
Inflation inches down to 8.58% in October
Exports rise by 23% in September
India's growth on track; Q2 GDP at 8.9%
MOIL Retail Subscription Details
MOIL has been subscribed over 27 times in retail at cut off price. People who have applied close to 2L will get firm allotment - rest of the applicants will have to be satisfied with lottery and luck!
Update:
The Final Subscription Figures are here
BSE Bulk Deals to Watch - Dec 1 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
1/12/2010 524412 Aarey Drugs PATEL REKHABEN SANJHAYBHAI B 91964 32.57
1/12/2010 524412 Aarey Drugs PATEL REKHABEN SANJHAYBHAI S 91964 32.40
NSE Bulk Deals to Watch - Dec 1 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
01-DEC-2010,BEDMUTHA,Bedmutha Indust Ltd,BHARAT BIYANI,BUY,110000,74.25,-
01-DEC-2010,BEDMUTHA,Bedmutha Indust Ltd,BP FINTRADE PRIVATE LIMITED,BUY,165661,74.09,-
SBI, ICICI Bank December futures at premium
Turnover drops
Nifty December 2010 futures were at 5982, at a premium of 21.10 points over spot closing of 5960.90. Turnover on NSE's futures & options segment declined to Rs 95419.91 crore from Rs 114969.92 crore on Tuesday, 30 November 2010.
State Bank of India (SBI) December 2010 futures were at 3101.20, at a premium over spot closing of 3088.
ICICI Bank December 2010 futures were at a premium at 1174.95, compared to spot closing of 1165.50.
Tata Motors December 2010 futures were at a discount at 1293.10, compared with spot closing of 1295.
In the spot market, the S&P CNX Nifty jumped 98.20 points or 1.67% to settle at 5,960.90, as the market extended gains for the third day in a row.
Investors make a beeline for MOIL shares in IPO
Issue subscribed more than 50 times
The initial public offer (IPO) of state-run manganese producer MOIL was subscribed a massive 53.84 times by 16:00 IST, on the last of the bidding for the issue today, 1 December 2010. The IPO got bids for 180.9 crore shares, compared with 3.36 crore shares on offer. The subscription amount exceeded Rs 60000 crore.
BSE Mid-Cap, Small-Cap indices outshine Sensex
The key benchmark indices posted strong gains on the first trading session of the month on firm global cues. A slew of recent strong economic data and heavy bidding by foreign funds in the initial public offer of the state-run manganese producer MOIL, boosted investor sentiment. The market gained for the straight third trading session in this week. The BSE 30-share Sensex was up 328.75 points or 1.68%, up close to 325 points from the day's low and off close to 40 points from the day's high. European markets was trading higher while most Asian markets bounced off their earlier lows. US index futures were sharply higher.
MOIL Grey Market Premium - Dec 1 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| R.P.P. Infra Projects Ltd. | 75 | 1.25 to 1.50 |
| Claries Life science | 228 to 235 | 6 to 8 |
| Manganese Ore Ltd. | 340 to 375 | 260 to 265 |
| Shipping Corporation | 135 to 140 | -- |
Market seen opening subdued on negative global cues
The market is poised for a subdued start on weak global cues on lingering concerns about the European sovereign-debt crisis. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could decline 19 points at the opening bell. Auto, cement and steel stocks will be action as they declare their November 2010 monthly sales figures.
Daily News Roundup - Dec 1 2010
RIL prolific D-1 and D-3 gas fields off the east coast have seen a 15% drop in production to about 45-46mn cubic meters per day because of reservoir complexities. (ET)
Siemens Ltd plans to invest US$87mn on the development of wind turbines over the next two years. (ET)
Sensex climbs on Q2 GDP…Nifty tops 5850
After staging a smart pull back in the previous trading session, the benchmark Indian stock indices extended gains after the second quarter GDP data came in ahead of most estimates.
Fragile start; Global factors weigh
Change is inevitable, growth is intentional. - Anonymous.
Strong Q2 GDP growth has sparked hopes of India hitting the 9% mark for FY11. The fiscal deficit seems to be under control too. The core sector growth improved smartly as well in October. Now we will have to wait for the IIP report and monthly inflation data.
Europe woes may drag markets at start
Markets are set to open the session on a weak note taking lead from the negative global markets. The monthly auto sales and cement dispatches numbers are to be released today
Headlines for the day:
Siemens plans Rs1,200 crore capex in Gujarat
Core growth hits 7-month high at 7% in October
Tata unveils electric Indica Vista in Bangkok
Sensex closes above 19,500; DLF, Bharti surge
Indian equities continued to rise for the second day on Tuesday. After a bleak start, the Sensex made a smart recovery in the wake of better than expected GDP numbers which lead the indices to close the volatile session in green, after touching a high of 19,610.46. Realty gained the most followed by consumer durable, power, PSU and FMCG.
BSE Bulk Deals to Watch - Nov 30 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
30/11/2010 530901 ACIL DISHA BHARAT TAKWANI B 94585 20.68
30/11/2010 532975 Aishwarya Tele RAMA MANOHAR REDDY GANGAVARAM B 200000 18.55
NSE Bulk Deals to Watch - Dec 1 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
30-NOV-2010,BEDMUTHA,Bedmutha Indust Ltd,RABADIYA CHANDULAL RANCHHODBHAI,BUY,125520,68.19,-
30-NOV-2010,BEDMUTHA,Bedmutha Indust Ltd,RAJ FINVEST,BUY,373921,69.72,-
30-NOV-2010,BEDMUTHA,Bedmutha Indust Ltd,TOUCHSTONE FINVEST SERVICES PRIVATE LIMITED,BUY,558936,66.70,-
Asian markets succumb to selling pressure
Global risk appetite hit by China rate hikes fears, simmering Euro zone debt troubles
Asian markets mostly slipped today as profit selling ruled high on ideas China will resort to further monetary tightening in the near term. Weak overnight cues from the US markets kept the selling pressure on though the Indian equities recorded smart gains on a robust gross domestic product (GDP) data for the July- September 2010 quarter. Worries on contagion in Euro zone debt crisis also refused to go away in spite of the EUR 85b bailout of Ireland. CDS on Spain and Portugal jumped to records yesterday. Meanwhile, yield on Spanish and Portugal bonds also jumped with spreads over German bunds continuing to rise. EU Economic and Monetary Affairs Commissioner Olli Rehn urged Portugal to assure strong fiscal consolidation continuing in 2012 and beyond and emphasized that if growth proved to be somewhat lower than expected.
Market extends gains for the second day in a row on robust Q2 GDP data
The key benchmark indices reversed initial losses as robust Q2 September 2010 GDP growth data and a pick-in up subscription for the initial public offer of state-run MOIL on the last day of the bidding for the issue by qualified institutional buyers today, 30 November 2010, boosted investor sentiments. The market gained for the second straight day. The BSE 30-share Sensex was up 116.15 points or 0.6%, up close to 300 points from the day's low and off close to 90 points from the day's high. The market breadth was strong, in contrast with a negative breadth at the onset of the trading session.
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