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Tuesday, January 11, 2011
Markets end flat amid highly volatile session
The Indian markets witnessed an extremely volatile trade and shut the session on a flat note with a negative bias, with realty, IT among major losers.
Major headlines
iGate’s open offer for Patni to start on March 4
HCL Technologies advances on Credit Suisse upgrade
Bharati Shipyard slips on order cancellation report
BSE Bulk Deals to Watch - Jan 11 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
11/1/2011 530513 Accurate Trans HARISH CHERUKURI B 37000 104.15
11/1/2011 530513 Accurate Trans ABHI CAPITAL SERVICES LIMITED S 15998 103.55
NSE Bulk Deals to Watch - Jan 11 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
11-JAN-2011,BALPHARMA,Bal Pharma Limited,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,59742,37.48,-
Mixed outing for Asian stocks
Overnight cues cap buying, investors seek more cues on European front
Asian markets ended mixed as the US dollar came off its four-month lows and commodities edged marginally upwards. The overnight cues were negative though and the buying enthusiasm was mostly curbed as investors sought out more clarity on the Euro zone debt issues. US stocks continued to turn lower as investors took a wait-and-see approach ahead of the unofficial kickoff of earnings season after the close. Marking its third straight session of declines, the Dow dropped 37.31 points, or 0.3%, to 11,637.45.
RIL, Infy slide in volatile market
Key benchmark indices edged lower in a choppy trade to hit six-week closing lows. The market sentiment was edgy due to recent heavy selling by foreign funds and on continued worries the central bank may hike interest rates to tame inflation. The BSE 30-share Sensex was down 27.78 points or 0.14%, up close to 190 points from the day's low and off close to 240 points from the day's high. The market breadth was weak, having swung between positive and negative zone throughout the day. European stocks rose. Most Asian stocks edged higher.
Grey Market Premiums - Jan 11 2011
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Shekhawati Poly Yarn | 30 (Fixed Price) | +/- 1.50 to 2 |
| C. Mahendra Export | 95 to 110 | 3 to 4 |
| Mid Valley Enter | 64 to 70 | 6 to 7 |
Daily News Roundup - Jan 11 2011
iGate has acquired ~63% stake in Patni Computer Systems for US$1.22bn. (ET)
Tata Steel plans to raise Rs35bn-50bn via follow-on public offer (FPO). (BS)
Tell me why?
Human reason is like a drunken man on horseback; set it up on one side, and it tumbles over on the other - Luther.
Nothing unexpectedly earthshaking has happened in recent times but the bulls are feeling the earth move below their feet. FIIs seem to be increasing their withdrawals after pumping in a record US $29bn last year. The only thing that seems to be adding up is fears of inflation.
Monday Mayhem...Nifty plunges to 3-week low
As if Friday's ferocious slide was not enough, the bulls got yet another jolt at the start of the new week on Monday that too on another heavy volume day. So quite clearly, the bulls continue to be under tremendous pressure as FIIs slowly take some profit off the table after last year's solid gains.
Markets may see a flat opening
The start on the Dalal Street is expected to be flat tracking mixed Asian cues. With the markets being in the oversold territory, it is expected to bounce back a bit
Headlines for the day
Tata Steel set to raise Rs3,500-5,000 crore via FPO
R-Power, NTPC sign solar energy deal
MMTC disinvestment in 2011-12; sets up office in South Africa
Bullion metals end their losing streak
Prices register modest gains as dollar weakens
Precious metals ended their four-day losing streak and ended higher on Monday, 10 January 2011 at Comex. Prices rose as the dollar fell and sovereign problems in Europe re-emerged.
Crude heads up
Prices rise due to concerns over supply disruptions
Crude prices ended higher on Monday, 10 January 2011 at Nymex. Prices rose due to a weak dollar and concerns over supply disruptions due to a leakage discovered at Trans-Alaska pipeline.
Market seen halting five-day decline
The market is likely to open flat to slightly higher if trading of S&P CNX Nifty futures on the Singapore stock exchange is any indication. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate a gain of 13 points at the opening bell. However, fears of hike in interest rates, recent selling by foreign funds and rising worries over Portugal's economic health may dampen sentiment.
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