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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.
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| Manganese Ore Ltd. | 340 to 375 | 230 to 235 |
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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.
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