Monday, December 27, 2010
Indian equities dropped on Monday erasing earlier gains. The Sensex shed nearly 45 points as profit booking emerged and also due to weak opening of European market. Finally, it ended the volatile session on a bleak note after touching a low of 20,010.33 and high of 20,190.13.
Thin trading sees reversal of earlier gains as China rate hike effect kicks in
Asian markets witnessed a choppy session today as early gained were given up slight moderation was witnessed in the major markets as the Chinese rate hike finally led to a fall in the country's stocks, pulling the local indices in red and having a trigger effect on the other markets too. The day started off in good spirit as traders digested the Chinese interest rate hike on Christmas Day on optimism about broader global economic recovery.
The Indian markets drifted lower in the second half of trade as weak global cues weigh; the Nifty closed below 6000 levels after struggling around that level
iGate, Apax close to Patni Computer stake buy
BF Utilities soars as board approves Rs500 crore FDI
Ravi Kumar Distilleries spurts on listing
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
27/12/2010 530027 Aadi Inds VIPUL PRAVINCHANDRA DOSHI B 65300 58.75
27/12/2010 530513 Accurate Trans PRADEEP KR AGGARWAL B 17421 107.35
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
27-DEC-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,CNB FINWIZ PRIVATE LIMITED,BUY,32262,254.52,-
27-DEC-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,67853,257.95,-
27-DEC-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,MESH STOCK BROKERS PRIVATE LIMITED,BUY,21533,261.58,-
Settles at Rs 80.05 on BSE
Shares of Ravi Kumar Distilleries settled at Rs 80.05 on BSE, a 25.07% premium over the initial public offer price of Rs 64. The stock debuted at Rs 64, at par to the initial public offer (IPO) price. The scrip hit a high of Rs 90.30 and low of Rs 64. The counter clocked volume of 4.43 crore shares.
The key benchmark indices declined marginally on low volumes, tracking weakness in European and Chinese stocks. Chinese stocks tumbled after a weekend interest rate hike. A surge in crude oil price to 26-month high near $92 a barrel, stoked macroeconomic worries, which also weighed on sentiment. The market reversed direction after hitting a 3-week high in early trade as Reliance Industries, Bharti Airtel and Sterite Industries dropped.
The key to change is to let go of fear. - Rosanne Cash.
Fears of a weak start in the last trading week of the year appear to have been unfounded. The Chinese market has shrugged off the weekend rate hike after premier Wen Jiabao said his government will be able to contain inflation. Stocks in Japan too have gained. Markets in Hong Kong are shut.
Central Bank of India has got the RBI's nod to go ahead with its rights issue; it plans to mop up around Rs25bn to shore up capital adequacy ratio. (BL)
LGS Global, formerly Lanco Global Systems, will raise Rs4bn through FCCBs, QIPs and other instruments. (BL)
After spending most of the week in a tight range the key Indian stock indices finally gave investors something to cheer about ahead of the Christmas weekend. Though the price action wasn't something to write home about but the day's gains were certainly better compared to the lackluster trend seen in the previous few sessions.
Ravi Kumar Distilleries
13 to 15
Punjab & Sind Bank
29 to 30
Shekhawati Poly Yarn
30 (Fixed Price)
8 to 9
C. Mahendra Export
The key benchmark indices may open flat to slightly higher as Asian Markets edged higher shrugging off China's interest rate hike over the weekend. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate a flat opening.