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Tuesday, February 01, 2011
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Markets hit 5-month low on extreme sell-off
Selling activity again took the lead on the first session of February month dragging the markets to five-month low. Realty down over 4%.
Major headlines
December exports up 36.4% at $22.5 billion
Delta Corp slumps on Goa govt order
Unitech against Morgan Stanley; stock falls
BSE Bulk Deals to Watch - Feb 1 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
1/2/2011 531678 Anand Credit PARMAR BHARATKUMAR B B 44697 9.71
1/2/2011 531448 Arrow Sec PARMAR BHARATKUMAR B B 58603 11.72
1/2/2011 531448 Arrow Sec PCJ FINVEST PVT LTD S 40000 12.00
1/2/2011 532435 Asia HR Tech TELESYS SOFTWARE LTD S 60000 5.92
NSE Bulk Deals to Watch - Feb 1 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
01-FEB-2011,CANFINHOME,Can Fin Homes Ltd,RAJEN CHANDRAKANT SHARE A/C,BUY,130639,117.43,-
01-FEB-2011,CMAHENDRA,C.Mahendra Exports Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,1847556,161.35,-
Bears hammer stocks once again; Sensex, Nifty at 5-month trough
The key benchmark indices fell for the fifth straight day to hit five-month lows on worries corporate profit growth will slow on rising input costs and higher interest charges. Macroeconomic worries arising from higher crude oil prices and selling by foreign funds last month, also weighed on the sentiment as index heavyweight Reliance Industries (RIL), a number of Anil Dhirubhai Ambani group stocks, some realty and construction shares hit 52-week low/lifetime low. Indian stocks underperformed higher global equities. World stocks rose as worries over the unrest in Egypt receded. The BSE 30-share Sensex was down 305.54 points or 1.67%, off close to 430 points from the day's high and up close to 40 points from the day's low. The Sensex settled above the psychological 18,000 mark after falling briefly below that mark in late trade.
Daily News Roundup - Feb 1 2011
Siemens AG is planning to increase its stake in the Indian subsidiary, Siemens Ltd, from the present 55.18% to 75% with an offer of US$1.4bn. (BS)
The Aditya Birla Group has finally agreed to buy out the US firm Columbian Chemicals Company for US$875mn from One Equity Partners, the merchant banking arm of JPMorgan Chase. (BS)
L&T Infotech, the information technology arm of engineering major Larsen & Toubro, has acquired Citigroup’s Canadian IT outsourcing arm, Citigroup Fund Services Canada (CFSC). (BS)
Sensex averts steep fall…Nifty holds above 5500
The Indian markets ended the day with modest losses as the benchmark indices erased most of the early losses that had resulted from the growing political turmoil in Egypt. After opening with a gap down, the key Indian indices recouped early losses gradually amid a volatile session. The NSE Nifty managed to fill up the negative gap led by the ONGC, BHEL, L&T and RIL. Even the broader indices pulled back from the lows of the day in late trades.
After Jan jolt, Feb fear!
The most merciful thing in the world, I think, is the inability of the human mind to correlate all its contents.- HP Lovecraft
Watching global cues and expecting Indian indices to mimic the same has been the usual routine. But the start of the year has seen the main Indian indices plunge 10% making it among the worst performers in Emerging Markets. Meanwhile, it was a different story on Wall Street as the Dow clocked its best January since 1997.
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