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Thursday, February 03, 2011
Sensex scores 358...Nifty ends above 5500
After failing to drive home the advantage in the previous session, the bulls managed to dominate the proceedings on Indian bourses in today’s session. Although a five-day losing sequence was broken on Wednesday, it lacked the punch and strength. But, today was different, with the BSE Sensex cracking a triple ton and the NSE Nifty nearly clocking a triple-digit gain.
Sensex showcases stunning session, ends 359 pts up
Major headlines
Food inflation rises to 17.05%
BF Utilities up 20% as SC removes arm’s roadblock
Oracle Financial slips as Irish client files lawsuit
BSE Bulk Deals to Watch - Feb 3 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
3/2/2011 530901 ACIL SONAL INTERNATIONAL LTD B 613874 4.58
3/2/2011 508869 Apollo Hosp BNY MELLON ASIAN EQUITY FUND B 1500000 455.00
3/2/2011 508869 Apollo Hosp BNY MEL INV FD NEW ORIENTAL FUND B 3000000 455.00
NSE Bulk Deals to Watch - Feb 3 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
03-FEB-2011,BIRLAPOWER,Birla Power Solutions Ltd,INDRAVARUN TRADE IMPEX PVT LTD,BUY,22582243,1.28,-
03-FEB-2011,CMAHENDRA,C.Mahendra Exports Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,426438,167.27,-
03-FEB-2011,JUPITER,Jupiter Bioscience Ltd,KRIKA SPICE INTERNATIONAL PVT LTD,BUY,957042,27.64,-
Market extends gains for the second straight day
The key benchmark indices edged higher for the second straight day as investors resorted to bargain hunting in beaten down stocks. The BSE 30-share Sensex was up 358.69 points or 1.98%, up close to 385 points from the day's low and off close to 15 points from the day's high. The Sensex had dropped more than 11% by Wednesday's (2 February 2011) close since the beginning of 2011. The market breadth was strong. European stocks were mixed. Most Asian markets were closed for the Chinese Lunar New Year holidays.
Relief rally short-lived!
Enjoy present pleasures in such a way as not to injure future ones. - Seneca.
The relief rally would have been a pleasure but another afternoon shocker made it short-lived. A late selloff deprived the Sensex and the Nifty of a much-needed rebound after a five-day slide.
The big question is what led to the sudden and swift downturn? The arrest of former telecom minister should have been seen as positive. The net FII sale figure is negligible while the local funds were net buyers of nearly Rs 7bn. We could witness a positive opening today, and if all goes well a much better finish as well.
Daily News Roundup - Feb 3 2011
Hindustan Unilever (HUL) has set a target to more than double its turnover in just 4 years to Rs500bn.(ET)
Mercator Lines will invest Rs2.5bn to develop coal mines in Indonesia.(ET)
Tata Steel plans to raise US$500mn by issuing bonds, preferably perpetual bonds. (BS)
Sensex pares gains amid late sell-off
After a solid start and a promising day, the close was highly disappointing with the key stock indices ending just a tad higher owing to a sudden decline in the last half an hour or so. The Indian markets ended the day with modest gains, snapping a five-day losing streak. The benchmark indices took an ugly turn in late trading led by weakness in select index heavyweights like L&T, Hero Honda, Bajaj Auto, Cipla and SBI.
Precious metals turn pale
Prices drop as dollar heads up
Precious metals ended with losses on Wednesday, 02 February 2011 at Comex. Prices dropped as the dollar shed all of its prior day's losses and had a strong rally thereby reducing the appeal of precious metals as an alternate investment.
Crude ends marginally higher
Tensions at Cairo lift crude prices
Crude prices ended marginally higher on Wednesday, 02 February 2011 at Nymex. Prices rose after clashes continued at Cairo even after news that Egyptian President Hosni Mubarak will not be running for President next time. The higher dollar and weekly inventory report on energy put a check on price rise.
Market seen opening sideways on mixed global cues
The market is likely to open on a flat to positive note with little direction from Asian and US markets. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 2.50 points at the opening bell. On the macro front, the government will unveil data on some wholesale price indices for the year through 22 January 2011 viz. the food price index, the primary articles index and the fuel price index at about 12:00 IST.
Markets expect a flat start
Indian markets are heading for a subdued start following unsupportive global cues. Weekly inflation readings will be announced
Headlines for the day:
IIFCL to raise Rs1,200 crore through infra bonds
Tata Steel to raise $500 million
DoT unlikely to cancel telcos' licences
NSE Bulk Deals to Watch - Feb 2 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
02-FEB-2011,ASTRAMICRO,Astra Microwave Products,SKANDA AEROSPACE PRIVATE LIMITED,BUY,4200000,50.76,-
02-FEB-2011,BEDMUTHA,Bedmutha Indust Ltd,MAHESH MEETAL,BUY,108270,88.94,-
Market snaps five-day losing streak; Hero Honda skids after weak Q3 results
Bargain hunting after a recent steep slide helped the key benchmark indices register small gains in choppy trading sessions. Firm global stocks helped Indian stocks snap last five days' losses. But, the market came sharply off the day's highs in late trade after reports filtered in that the Central Bureau of Investigation (CBI) has arrested former telecom minister A Raja over an alleged telecom scam. Anil Dhirubhai Ambani group telecom firm Reliance Communications hit record low and another group firm Reliance Infrastructure hit 52 week low. Hero Honda Motors lost more than 5% after poor Q3 results. Other auto stocks, too, fell.
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