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Monday, December 13, 2010
MOIL Listing Date
In pursuance of Regulation 3.1.1 of the National Stock Exchange (Capital Market) Trading Regulations Part A, it is hereby notified that the list of securities further admitted to dealings on the National Stock Exchange (Capital Market segment) with effect from December 15, 2010 and the designated security codes thereof shall be as specified in Annexure.
Brokers' views on Punjab & Sind Bank IPO
Punjab & Sind Bank`s initial public offering (IPO) of 40 million equity shares has opened for subscription today. The issue constitutes 17.93% of post-issue paid-up capital of the bank, at a price band of Rs 113-120 a share. The issue will close on December 15 for qualified institutional investors (QIB) and on December 16 for other investors.
Nifty settles above 5,900; RInfra, HDFC surge
Indian markets continued to gain for the second day on Monday. The Sensex ended the volatile session on a buoyant note. Midcap and Smallcap index outperformed. Realty, metal and power were leading the sectoral space.
BSE Bulk Deals to Watch - Dec 13 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
13/12/2010 530513 Accurate Trans PRADEEP KR AGGARWAL B 43005 93.73
13/12/2010 530513 Accurate Trans HARISH CHERUKURI S 43005 93.73
13/12/2010 517356 ACI Infocom GANDHAR WEAVING PRIVATE LIMITED S 41325 25.19
NSE Bulk Deals to Watch - Dec 13 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
13-DEC-2010,ASHCONIUL,Ashco Niulab Ind Ltd,RAGA SHARES AND SECURITIES PVT LTD,BUY,370513,5.45,-
13-DEC-2010,GRAVITA,Gravita India Limited,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,233996,208.07,-
Volatile session ends on a strong note
The Indian markets closed the volatile session on a strong note owing to heavy buying in realty, metal, power, capital goods and PSU stocks
Major headlines
Emami loses Paras Pharma bid; the stock ends 16.65% higher
Sintex Industries to buy stake in Durha Constructions; the stock closes up by 4.04%
JSW Steel to issue GDRs to JFE Steel; the stock ends 8.22% higher
Rupee drops
At 45.16/17 per dollar
Rupee weakened on Monday (13 December 2010) tracking the euro's losses versus the dollar while a choppy local stock market failed to provide any clear cues on the direction of foreign fund flows.
Strong show for Asian equities
Markets end higher on robust economic data from US and China
The Asian markets edged higher today as the risk appetite stayed firm given strong economic data from the US and an extended up move in the world commodity prices. The US stocks posted strong gains on Friday as the Commerce Department reported that the U.S. trade deficit narrowed to $38.7 billion in October, bolstering hopes of an improving economic activity as exports picked up. The consumer sentiment also surged with the Reuters and the University of Michigan consumer sentiment index for December hitting at 74.2, the highest since coming in at 76.0 in June.
BSE Mid-Cap, Small-Cap indices outshine Sensex
The key benchmark indices started the week on a buoyant note, extending Friday (10 December 2010)'s 1.3% gains, on firm global stocks. World markets rose after Beijing refrained from raising interest rates over the weekend. Index heavyweight Reliance Industries (RIL) edged higher in choppy trade. Capital goods, consumer durables, pharma, metal and realty stocks rose. Banking stocks reversed initial losses. The BSE 30-share Sensex was up 182.89 points or 0.94%, up close to 370 points from the day's low and off close to 20 points from the day's high. The market breadth was strong, as small and mid-cap stocks attracted buyers for the second day in a row after a recent sell-off.
Grey Market Premiums - Punjab and Sind Bank, MOIL
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Claris Life science | 228 (Lower) | Discount |
| Manganese Ore Ltd. | 375 (Upper) | 160 to 165 |
| Shipping Corporation | 140 (Upper) | -- |
| Ravi Kumar Distilleries | 56 to 64 | 1.5 to 2 |
| A 2 Z Maintenance | 400 to 410 | 4 to 5 High : 170 Low : 8 |
| One 97 Communication | - | 3.50 to 4 |
| Punjab & Sind Bank | 113 to 120 | 34 to 35 |
Daily News Roundup - Dec 13 2010
Cipla and Ranbaxy are among those pulled up by the drug price regulator, National Pharmaceuticals Pricing Authority for overcharging. (BS)
NTPC to soon approach the government for reconsideration of the decision to scrap the power producer's 600MW Loharinag Pala hydro-power project in Uttarakhand. (BS)
Sensex springs back to life...ends above 19,500
A day after suffering a heavy loss, the Indian market managed to stage a spirited recovery on the back of sustained strength in pivotal index heavyweights, as investors welcomed a better-than-expected IIP data for October. Also, the market was primed for a technical bounce back after five straight days of losses.
Keep your cool
The world belongs to the enthusiast who keeps cool.-William McFee.
The heat was on the bulls last week till the robust IIP numbers came to the rescue. Since then worries seem to have cooled down. In fact, the otherwise warm cities like Mumbai are beginning to feel the chill.
Market may open flat to slightly lower
The market may open flat to slightly lower if trading of S&P CNX Nifty futures on the Singapore stock exchange is any indication. Trading of Nifty futures on the Singapore stock exchange indicate a fall of 5 points at the opening bell. As per provisional figures on NSE, foreign funds sold shares worth Rs 1239.25 crore while domestic funds bought shares worth Rs 747.65 crore on Friday, 10 December 2010.
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Foreign funds pressed sales of shares worth a net Rs 4744.90 crore last week, as per the provisional data from the stock exchanges. The net outflow totaled Rs 3,263.43 crore so far this month, the stock exchanges data showed. Domestic funds bought shares worth a net Rs 128.95 crore so far this month, as per the data from the stock exchanges.
Asian stocks rose on Monday, 13 December 2010, as investors took in their stride China's latest attempt to cool inflation and fresh vows to tackle price pressure, while upbeat US economic data helped shore up the dollar. The key benchmark indices in Hong Kong, Japan, South Korea and Taiwan rose by between 0.13% to 1%. But, the key benchmark indices in Indonesia and South Korea fell by between 0.03% to 0.43%.
China's key stock index Shanghai Composite rose 1.35% on Monday after data showed Chinese inflation flew past forecasts to a 28-month high and the central bank raised lenders' requirements for the third time in a month.
In New York on Friday, 10 December 2010, an encouraging trade report and signs that a tax cut package would pass the Senate sent US stocks to their highest levels in two years. The market was also heartened by US data showing a rise in consumer sentiment to six-month high and a 3.2% rise in exports, figures that pointed to a firmer economic recovery.
Back home, the next major trigger for the equity market is the advance tax payment of corporates for the third installment, which falls due on 15 December 2010. The advance tax figures will provide a cue on Q3 December 2010 corporate earnings.
The large capital flows into India are not a matter of concern, according to a mid-year review of the Indian economy tabled by Finance Minister Pranab Mukherjee in parliament last week. Even after this month's sell-off, the inflow of foreign funds in Indian stocks remains at record level this year.
According to mid-year review, the economy may grow by 9% during the year ending March 2011 (FY 2011). Average headline inflation is seen at 8.98% for the year, it said. The report indicated that the country's fiscal deficit will not be more than 5.5% of its gross domestic product in FY 2011.
The Indian economy grew a robust 8.9% year-on-year in Q2 September 2010, maintaining the same pace of expansion as the previous quarter, boosted by farm output and manufacturing, government data released Tuesday, 30 November 2010 showed. The manufacturing sector grew an annual 9.8% and farm output grew an annual 4.4% in Q2 September 2010. The government revised upwards the Q1 June 2010 GDP growth to 8.9% from 8.8% earlier.
The recent macro economic data has been strong. Data announced on Friday, 10 December 2010, showed industrial output in October rose a faster-than-expected 10.8% from a year earlier, higher than the previous month's annual growth of 4.4%. Manufacturing output rose an annual 11.3% in October.
Business activity in India's services sector surged to a four-month high in November 2010, driven by robust growth in new orders, a survey showed on 3 December 2010.
The manufacturing activity strengthened further in November 2010 and the strong growth momentum is showing up in rising inflation pressures, according to an HSBC survey released on 1 December 2010. The HSBC Manufacturing Purchasing Managers' Index rose to 58.4 in November from 57.2 in October, the survey said.
Exports rose an annual 26.8% to $18.9 billion in November 2010, while imports for the month grew 11.2% on the year to $27.8 billion, as the provisional data released by Trade Secretary Rahul Khullar showed on Wednesday.
But, high inflation remains the major cause of concern for the policymakers. The food price index rose 8.69%, while the fuel price index climbed 9.99% in the year to 27 November 2010, government data on Thursday showed. In the prior week, annual food and fuel inflation stood at 8.60% and 9.99% respectively. The primary articles price index was up 12.66% in the latest week compared with an annual rise of 12.72% a week earlier.
The government will announce inflation data for the month of November on Tuesday, 14 December 2010. The rate of inflation stood at 8.58% in October 2010, marginally lower than 8.62% in September 2010. The Reserve Bank of India (RBI) undertakes a mid-quarter policy review on Thursday, 16 December 2010. RBI governor D Subbarao recently expressed discomfort with the current levels of inflation. "Inflation is coming down but still above the Reserve Bank's tolerance level; growth on the other hand has been encouraging," Subbarao said.
Flat to positive start likely
Headlines for the day:
Govt to review fund-raising by microfinance institutions
RBI likely to keep key rates unchanged
Coal India, Nuclear Power Corporation mull JV for nuclear power
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