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Tuesday, December 07, 2010
Markets shut with modest losses
The domestic markets closed the volatile session with modest losses; banking shares worst hit for the second consecutive day
Major headlines
Economy may cross 9% by March
Members nod for buyback boosts Piramal Healthcare
Uflex tanks as CMD sentenced to jail
BSE Bulk Deals to Watch - Dec 7 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
7/12/2010 521131 Anjani Fabrics ROHNIL BORADIA B 56271 56.22
7/12/2010 590059 APL Apollo Tubes SAMIR ARVIND THAKKAR S 121887 120.17
7/12/2010 500035 Balaji Dist GLOBE CAPITAL MARKET LIMITED B 365019 50.53
NSE Bulk Deals to Watch - Dec 7 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
07-DEC-2010,DOLPHINOFF,Dolphin Offshore Enterpri,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,175804,232.61,-
07-DEC-2010,GLORY,Glory Polyfilms Limited,RAJ FINVEST,BUY,325000,7.24,-
RIL, auto stocks edge higher in volatile market
The key benchmark indices edged lower in a volatile trading session, underperforming mostly higher global stocks, with bank stocks losing ground for the second day in a row. The BSE 30-share Sensex was down 46.67 points or 0.23%, up close to 110 points from the day's low and off close to 75 points from the day's high. Index heavyweight Larsen & Toubro reversed initial losses while another index heavyweight Reliance Industries (RIL) pared intraday gains. Metal and auto stocks bucked the weak market.
Grey Market Premium - Ravi Kumar, A2Z Maintenance
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Claris Life science | 228 (Lower) | 4 to 5 |
| Manganese Ore Ltd. | 340 to 375 | 230 to 235 |
| Shipping Corporation | 135 to 140 | -- |
| Ravi Kumar Distilleries | 56 to 64 | 3 to 4 |
| A 2 Z Maintenance | 400 to 410 | 75 to 80 |
Tepid Tuesday in the offing
Trends, like horses, are easier to ride in the direction they are going. - John Naisbitt.
Many market players appear to be taking it easy as the year draws to a close. As a result, the trend for the remainder of December is likely to be largely lackluster. But, there could be a minor-year-end "Santa Clause Rally", provided the overseas markets are supportive. For now though we seem to have hit a speed breaker.
Daily News Roundup - Dec 7 2010
The government has agreed in principle to ensure a minimum 10% return on investment to ONGC in Cairn India’s Rajasthan blocks, boosting the firm’s valuation ahead of its follow-on public offering. (ET)
JSW Steel has received shareholders’ nod to issue ~1mn shares on a preferential basis to Japanese steelmaker JFE Steel. (ET)
Sensex, Nifty end flat...Metal shares shine
The Indian market erased all the day's gains to close virtually flat, as investors remained wary of the murky global backdrop and the overhang of scandals in the domestic market.
Mkts to witness pressure at start on global cues
Domestic markets are expected to resume the day on a cautious note following the unsupportive global markets. Banking shares may remain in focus.
Headlines for the day:
ONGC to ink Kazakh deal in February
Volvo buys partner's stake in Indian JV
Toyota mulls small car in India, on Etios platform
Market may open flat to slightly higher
The markets open flat to slightly higher if trading of S&P CNX Nifty futures on the Singapore stock exchange is of any indication. It indicate a gain of 7 points at the opening bell. Asian markets were mixed.
Monday, December 06, 2010
Markets erase early gains, end flat
The Indian markets erased all its early gains in late trade and closed the session on a flat note owing to sell-off in banking, realty and FMCG space
Major headlines
JSW Steel November production up 6%; the stock closes 4.37% higher
State Bank of India declines after raising deposit rate; the stock ends 3.86% lower
Tata Steel rises as Rio Tinto bids for Riversdale; the stock closes up by 3.38%
Ravi Kumar Distilleries
Ravi Kumar Distilleries, promoted by Mr. R. V. Ravikumar, is engaged in the business of manufacturing Indian Made Foreign Liquor (IMFL) under its own brand portfolio. The IMFL comprises of Whisky, Brandy, Rum, Gin & Vodka. In addition to manufacturing and marketing of its own liquor products, it also has tie-up arrangement with various leading liquor companies of India like .Radico Khatian Ltd., Shashi Distilleries Pvt. Ltd., John Distilleries Ltd., Gemini Distilleries (Pondy) Pvt. Ltd., and Mondovi Distilleries & Breweries Pvt. Ltd for manufacturing and marketing of their popular brands.
Mixed Monday for Asia
Stocks end amid uncertain direction post disappointing non-farm data
Asian markets ended mixed today with the modestly higher closing in the US stocks on Friday despite weaker than expected jobs report for November not helping shape the sentiments either way. The Irish Department of Finance on Saturday confirmed that the 2011 budget deficit would fall to 12.2% of gross domestic product (GDP), before Budget Day adjustments, from 32% in 2010. This turned out to be a slightly positive news from the point of view of easing the Eurozone debt troubles to some extent. Meanwhile, on Friday, in a disappointing piece of data, the US unemployment rate edged up to 9.8% in November, and nonfarm payroll employment gained just 39000, as per the latest report from US Bureau of Labour Statistics. Temporary help services and health care continued to add jobs over the month, while employment fell in retail trade. Employment in most major industries changed little in November.
Market ends flat after hitting 3-week high; bank shares drop
The key benchmark indices ended almost unchanged, giving up initial strong gains as profit taking emerged after the Sensex hit 3-month high. Weak European stocks and lower US index futures triggered profit taking on the domestic bourses. The BSE 30-share Sensex was up 14.38 points or 0.07%, off close to 235 points from the day's high and up close to 35 points from the day's low. The market breadth turned negative when compared with a strong breadth earlier in the day.
Daily Grey Market Premiums - Dec 6 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| R.P.P. Infra Projects Ltd. | 75 | +/- 3 to 5 |
| Claries Life science | 228 to 235 | 3 to 3.5 |
| Manganese Ore Ltd. | 340 to 375 | 195 to 205 |
| Shipping Corporation | 135 to 140 | -- |
| Ravi Kumar Distilleries | 56 to 64 | 3 to 5 |
Labels:
Grey Market,
IPO Grey Market Premium,
Pre Market
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Crude pares early losses
Prices rise despite weak job report
Crude prices pared its earlier losses rose substantially on Friday, 03 December 2010 at Nymex. Prices rose mainly due to the weak dollar. Earlier prices dropped following a disappointing job report at Wall Street.
Daily News Roundup - Dec 6 2010
Dalmia Bharat Enterprises plans to invest Rs25bn to set up two greenfield cement plants in Karnataka and Meghalaya. (BL)
Larsen & Toubro has bagged an Rs7.2bn infrastructure contract from the Department of Transport, Abu Dhabi. (BL)
Sensex dips below 20,000...Broader market slumps
After having a turbulent November, the first week of December began with smart gains. However, the Indian markets ended the week on a slightly sour note with the broader market particularly badly battered.
Don’t Hurry, Be Happy
An unhurried sense of time is in itself a form of wealth. - Bonnie Friedman.
The market is running nowhere as yet. Most Asian markets are up this morning; which means the Indian market will also see a higher start. Stay away from "risky" Small-Caps and Mid-Cap stocks and from sectors facing severe headwinds. Watch out for the latest IIP data to be released on Friday. The upswing may continue with 5900 acting as near term support. Overall, the trading range on the Nifty is expected to be 5800-6200. But don’t be in a hurry to make your purchases.
Market may edge higher on firm Asian stocks
The market may extend last week's strong gains on firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate a gain of 15 points at the opening bell. The market will heave a sigh of relief after the transporters' union -- the All India Motor Transport Congress (AIMTC) called off the proposed strike after the government assured it of some level of reduction in toll charges for trucks with three axles, among other issues. AIMTC had threatened to go on strike from 5 December 2010 if the toll charges were not reduced.
Markets to open on a firm note
Headlines for the day:
Telcos reject Trai's tariff plan
Bhushan Power & Steel eyes London IPO
IRDA likely to set uniform norms for health cover
Sunday, December 05, 2010
IRB Infrastructure Developers
Investors can consider accumulating the stock of IRB Infrastructure Developers (IRB). At the current price of Rs 227, the stock trades at 14 times its expected per share earnings for FY-12.
Applying for IPO via ASBA
It is almost certain these days that you will not get what you asked for in an IPO — two lots for four applied, one lot for five and sometimes nothing at all!
In running the race with lady luck to buy into offers, Shekar ran out of cheque leaves and also saw the balance in his savings account dip below the minimum required.
Ireland finally gets €85bn EU bailout
European leaders approved an €85bn, or US$112.53bn, aid package for the debt-plagued Ireland besides unveiling a permanent system to resolve the region's fiscal problems. The agreement was announced on Sunday at an European Union (EU) finance ministers’ meeting in Brussels. The financial package for Ireland includes €10bn for immediate recapitalization measures, €25bn on a contingency basis for banking system supports and €50bn covering budget-financing needs. "This program is absolutely essential for the country," Irish Prime Minister Brian Cowen said at a press conference in Dublin. "We have carefully considered all available policy options. It’s the best available deal for Ireland." Cowen added that the bailout doesn’t involve any change in Ireland’s ultra-low corporate tax rate of 12.5% and that repayments will be at a 5.8% interest rate. The funding will be available to Ireland at a cheaper interest rate than what is available on the international markets where its borrowing costs have soared to about 9%, he said.
Toyota Etios priced between Rs 5-7 lakhs
The Toyota Etios sedan was launched in Bangalore by Akio Toyoda, President of Toyota Motor Corp. at a price of between Rs 4.96 lakhs and Rs 6.87 lakhs (Ex-showroom Delhi). The standard version of the Etios called "J" will be available at Rs 4.96 lakhs (Ex-Delhi), followed by "G" at Rs 5.46 lakhs, "G+" at Rs 5.96 lakhs, "V" at Rs 6.41 lakhs and "VX" at Rs 6.86 lakhs. Bookings for the Etios sedan started this week while the delivery of the car will start in January. The hatchback version of the Etios called Liva will be launched in April 2011, according to Toyota Kirloskar Motors officials. Toyota Kirloskar Motors aims to sell about 70,000 units of Etios and Liva in CY 2011. The joint venture between Kirloskar group and Toyota Motor Corp. plans to sell a total of 73,000 vehicles in India in 2010 and 145,000 vehicles in 2011. The company is investing Rs 32bn to set up its second manufacturing facility in Bangalore to roll out the Etios and the Liva cars, Toyoda said. About 4,000 engineers have spent five years for developing the cars, he added. Toyota Kirloskar Motor aims to capture 10% of the Indian passenger car market by 2015, mainly on the back of Etios and Liva models.
India's manufacturing PMI jumps in November
India’s manufacturing output accelerated in November from the previous month, with a key private sector gauge touching its highest level since May this year. India's Purchasing Managers’ Index (PMI) for manufacturing stood at 58.4 in November from 57.2 in October, according to HSBC Holdings Plc and Markit Economics. A reading over 50 indicates expansion while anything below it denotes contraction. The previous highest reading in May was 59.0. With this, the widely followed manufacturing gauge has been above the 50 mark for the 20th consecutive month.
Weekly Newsletter - Dec 5 2010
After a fairly strong week, the market gave up some of the gains, with the broader market taking a beating after SEBI banned the promoters of four companies for alleged price manipulation. So, looks like the overhang of scams will continue to haunt the Indian market just as everything seemed to fall in place. Another factor that could affect the sentiment early on Monday is a weaker than expected US jobs data for November. The world's largest economy managed to add just 39,000 non-farm payrolls versus expectations of 150,000. What's worse, the unemployment rate climbed to 9.8% as against expectations of 9.6%. Still, much will hinge on how Wall Street and the European markets react to the jobs report.
Indian economy grows faster than expected
India's economy grew at a much faster pace than anticipated in the second quarter of the current fiscal year, prompting a recovery in the stock market and lifting hopes of meeting the Government's annual target of 8.75%. India's economy expanded by an impressive 8.9% in the July to September quarter as against 8.7% in the same period of the previous fiscal year, the Commerce & Industry Ministry said. Meanwhile, the GDP figure for the April to June 2010-11 period was revised to 8.9% versus a preliminary estimate of 8.8%. The consensus estimate was for a GDP growth of 8.2-8.3% in the second quarter of FY11 with the broad range of 8-8.5%.
Saturday, December 04, 2010
Friday, December 03, 2010
Year-end profit taking may cap upside
With key economic data due in the US, Indian stocks will take cue from global cues at the onset of the trading next week. The US government will release the data on US non-farm payroll for November 2010 on Friday, 3 December 2010. The non-farm payrolls number is forecast to increase by 144,000 in November from October, when it climbed by 151,000. The jobless rate, meanwhile, may stand unchanged at 9.6%, as per economists' expectations. A strong US jobs report may lead investors to expect that the Federal Reserve could scale back its latest quantitative easing measures.
Market snaps three-week losing streak on strong economic data
A slew of positive global and domestic economic data and bargain hunting after recent steep losses, helped the market snap a three-week losing streak. The key benchmark indices posted smart gains in the week ended Friday, 3 December 2010, logging gains in four out of five trading sessions. Mid-cap and small-cap indices on BSE underperformed the Sensex.
Muted response from FIIs to Shipping Corp FPO
Domestic institutions put in bids for 16.60 crore shares
The follow-on public offer (FPO) of state-run Shipping Corporation of India (SCI) was subscribed 4.25 times by 16:00 IST, on the last day of the bidding for the issue today, 3 December 2010, NSE data showed. The IPO got bids for 36 crore shares, compared with 8.46 crore shares on offer. Bidding for the issue by qualified institutional buyers (QIB) had ended on Thursday, 2 December 2010.
BSE Small-Cap index drops 3%
The key benchmark indices registered small losses in as the market took a breather after strong gains in the previous four trading sessions. Intraday volatility was high. A broad-based selling was witnessed in small-cap and mid-cap shares as the market sentiment turned weak after the stock market regulator Securities & Exchange Board of India (Sebi) on Thursday, 2 December 2010, barred founders and related entities of a total of four companies from trading on the stock exchanges as these firms had indulged in "fraudulent and unfair" trade practices".
Grey Market Premiums - Dec 3 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| R.P.P. Infra Projects Ltd. | 75 | 1 to 1.25 |
| Claries Life science | 228 to 235 | 8 to 10 |
| Manganese Ore Ltd. | 340 to 375 | 250 to 255 |
| Shipping Corporation | 135 to 140 | -- |
| Ravi Kumar Distilleries | 56 to 64 | 6 to 8 |
Daily News Roundup - Dec 3 2010
ONGC will bring to production various clusters of its marginal fields on the western offshore in the next two years. (BS)
Australia’s leading mining contractor, Leighton Holdings, won a 22-year contract from India’s NTPC for US$5.5bn. (BS)
Sensex spurts anew...Nifty ends above 6k
The bulls continued their effort to gradually make their way back into the market following the recent reversals, with the two key stock indices piercing key psychological barriers.
Ride the global wave
All that spirits desire, spirits attain. - Kahlil Gibran.
Markets seem to be getting ready for Christmas with the bulls staging a spirited comeback. This week has been a pretty good one after a turbulent November. It looks like the market will close out the week on a positive note with global markets holding firm.
Global rally to lift markets at start
Indian markets are set to start the session on a positive note buoyed by the improved global sentiments. Markets may rally as the global sentiment has improved owing to assurance by ECB.
Headlines for the day:
SEBI bans 4 companies, 3 broking firms
R-Power to double Rosa project capacity
Apollo may offload 49% stake in pharmacy arm
Market may extend gains
Data showing resumption of buying by foreign funds and firm Asian stocks may help Indian stocks extend this week's strong gains. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate a gain of 21.50 points at the opening bell.
Foreign funds bought shares worth a net Rs 386.12 crore on Thursday, 2 December 2010, as per the provisional data from the stock exchanges. The inflow in the first two trading days this month reached Rs 878 crore. Domestic funds sold shares worth a net Rs 225.04 crore on Thursday, as per the provisional figures.
Thursday, December 02, 2010
BSE Bulk Deals to Watch - Dec 2 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
2/12/2010 524412 Aarey Drugs J V STOCK BROKING PRIVATE LIMITED B 26363 28.72
2/12/2010 524412 Aarey Drugs JAGDISH RAMANLAL PATEL B 36678 29.78
2/12/2010 524412 Aarey Drugs J V STOCK BROKING PRIVATE LIMITED S 26363 28.48
NSE Bulk Deals to Watch - Dec 2 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
02-DEC-2010,AMRUTANJAN,Amrutajan Health Ltd,RAHUL DOSHI,BUY,22030,700.83,-
02-DEC-2010,BEDMUTHA,Bedmutha Indust Ltd,RAJ FINVEST,BUY,246545,76.88,-
02-DEC-2010,BEDMUTHA,Bedmutha Indust Ltd,RASHMI DILIP SHAH,BUY,120000,75.01,-
Sensex flirts with 20K, Nifty regains 6K
The domestic indices rallied for the fourth straight day led by buoyant global markets, with the Sensex flirting with 20000 and the Nifty regaining 6000 mark
Major headlines
Food inflation eases to 8.6%
Likely rise in royalty payment drags Hero Honda; the stock closes 7.27% lower
Shipping Corporation of India FPO fully subscribed; the stock ends 1.56% higher
Bulls on a high in Asia
Benchmark indices gain amid across the board surge in global manufacturing activity
Bulls held an upper hand in the Asian markets today with the sharp surge witnessed in the global manufacturing activity yesterday being the primary theme to shape up the sentiments. Commodities continued to hog the limelight as the US dollar slipped from 10-week highs an extremely strong show by the US stocks overnight ensured that most of the Asian indices end with sound gains. The recovery in manufacturing activities across the globe and improvement in US job conditions are spurring expectations for expansion in the global economy. The prospect of quantitative easing in Europe to calm the worries about the debt scenario of the peripheral European nations also acted in bull's favor.
Shipping Corp FPO subscribed 2.32 times
Gets bids for 19.68 crore shares
The follow-on public offer (FPO) of state-run Shipping Corporation of India (SCI) was subscribed 2.32 times on the third day of bidding for the issue today, 2 December 2010. The FPO got bids for 19.68 crore shares compared with 8.46 crore shares on offer. Bidding for the FPO by qualified institutional buyers ended today, 2 December 2010 while that for other category of investors ends on Friday, 3 December 2010.
Sensex jumps 4.47% in four days
The key benchmark indices edged higher in volatile trade as a slew of recent strong economic data, lower inflation and higher global stocks, helped keep sentiments firm. The market extended gained for the fourth straight day. The BSE 30-share Sensex jumped 142.70 points or 0.72%, off close to 90 points from the day's high and up close to 75 points from the day's low. The barometer index BSE Sensex closed below the psychological 20,000 mark after flirting with that level throughout the day. The 50-unit S&P CNX Nifty settled above the psychological 6,000 mark after flirting with that mark throughout the day.
MOIL Grey Market Premium - Dec 2 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 | 5 to 7 |
| Manganese Ore Ltd. | 340 to 375 | 265 to 270 |
Market may extend gains; food inflation data eyed
The key benchmark indices may gain for the fourth straight day this week tracking firm global stocks. The recent slew of strong domestic economic data may further aid investor sentiment. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could advance 46 points at the opening bell
Strong start likely on +ve global cues
Domestic markets are expected to resume the day on a steady note on the back of strong cues from global peers. The weekly inflation numbers are to be released later today
Headlines for the day:
HDFC, ICICI scrap teaser rates
Munjals, Honda close to rejig agreement
L&T Finance IPO may hit markets by January
Daily News Roundup - Dec 2 2010
BHEL has bagged Rs26.7bn order for supply and installation of a 2x600-MW thermal power plant at Raigarh in Chhattisgarh. (BL)
The Government has approved splitting of ONGC shares ahead of the FPO slated for March 2011. (BL)
Cabinet committee on economic affairs (CCEA) has formally accepted for ONGC share split.(ET)
Sensex soars...Nifty hits a ton
The Indian market has overlooked the mixed trend in the Asian markets and the overnight declines in the US market to be smartly up in the mid afternoon trade.
The broader market indices are doing even better than their frontline peers as investors snap up battered shares following last week's reversals.
From agony to ecstasy
Joy is the holy fire that keeps our purpose warm and our intelligence aglow. - Helen Keller.
After a subdued October and a tumultuous November, the bulls have something to cheer about. The Indian market has bounced back and looks like it has enough spirit left in it to go farther. For a change, the daily dose of news on various scams is likely to be buried by the positive global vibes.
MOIL Final Subscription Details
Qualified Institutional Buyers (QIBs) 49.16
Non Institutional Investors 143.30
Retail Individual Investors (RIIs) 32.86
Employee Reservation 0.57
Labels:
Allotment,
MOIL,
Oversubscription,
Subscription
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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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