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Tuesday, February 15, 2011
Market ends choppy session with modest gains
Unitech slides 5% on poor Q3 results
Videocon’s net profit rises 23% in the December 2010 quarter
GEI Industrial secures Rs60 crore of orders
Mixed outing for Asia
Lack of major cues from overnight trades, China inflation moderates
The Asian equities had a mixed outing today, not being able to draw a clear path though a slight moderation in the Chinese inflation data helped keep the losses limited. Most developed economies will grow at a steady pace in the months ahead, though growth in Italy and China appears to be slowing, according to a latest economic indicator released from the Organization for Economic Cooperation and Development yesterday.
Market extends gains for the third day
Expectations that the deadlock in parliament may be ended ahead of the Budget session next week helped stocks extend gains for the third day in a row today, 15 February 2011. Interest rate sensitive banking and auto stocks extended recent strong gains on a view that a bulk of the monetary tightening from the Reserve Bank of India (RBI) is over. The market breadth, indicating the health of the market, was positive. Index heavyweights Reliance Industries (RIL) jumped nearly 3%. The BSE 30-share Sensex was up 71.60 points or 0.39%, up close to 220 points from the day's low and off close to 90 points from the day's high. Realty and capital goods stocks fell. Shares of Reliance Anil Dhirubhai Ambani (ADA) group shares edged higher.
DAily News Roundup - Feb 15 2011
Gujarat State Electricity Corporation Ltd has awarded an EPC order of over Rs11bn to L&T for setting up a 1 x 375 MW gas-based power plant at Dhuvaran near Vadodara in Gujarat. (BS)
BHEL has bagged a US$436mn EPC contract to set up a gas turbine-based power plant in the Republic of Yemen. (FE)
BPCL has hired SBI to help it borrow US$200mn. (ET)
V-day on Dalal Street...Nifty ends above 5450
Colour red has a special significance on Valentine's Day. But thankfully, market participants on the Indian bourses saw mostly green on their trading screens today. It was a lovely day for the equity markets in India, as bulls extended the relief rally to a second consecutive trading session on the back of all-round buying.
With this, the NSE Nifty has managed to recover over 5% in just two days, ending above 5450 today. On the other hand, the BSE Sensex managed to recapture the 18,000 levels.
Relief rally may sustain…but pressure stays
However long the night, the dawn will break. - African Proverb.
After a scary fall of last week, the Indian market has bounced back, and how! In just two trading sessions, the Nifty has rallied a whopping 250 points. We expect another positive start but there may be some softening later, as global markets seem to be taking a pause.
Flat start on the cards
The Indian markets are likely to begin the trade on a flat note as the Asian cues do not look supportive.
Headlines for the day:
Tata Tele, RCom trade charges over dual-tech
Hero Motors sells 17.6% in Munjal Kiriu to partner
Tata Motors subsidiaries to merge
Precious metals rise
Gold makes small advances while silver ends modestly higher
Precious metals ended with advances on Monday, 14 February 2011 at Comex. Gold made small advances while silver registered modest gains. Both metals rallied to their best levels in late morning trade but spent the remainder of the session trading sideways below their respective highs.
Crude slips
Trade data from China fails to push prices higher
Crude prices ended lower on Monday, 14 February 2011 at Nymex. Trade data from China failed to perk up prices. Prices also slipped as recent tensions at Egypt eased down following the resignation of President Hosni Mubarak.
Market may open flat to slightly lower; Tata Steel in focus
The market may open flat to slightly lower after last two days of sharp rebound. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 8 points at the opening bell.
As per provisional figures foreign funds bought shares worth Rs 147.64 crore and domestic funds bought shares worth Rs 109.02 crore on Monday when market jumped by 2.75%.
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