Top 2011 Picks
Monday, March 14, 2011
Madras Fertilisers, Axis Bank, Thermax, Power Sector, Power Grid Corporation, Textile Sector, Thinksoft Global, Rolta, Hero Honda, EMCO, Tata Motors
Madras Fertilisers, Axis Bank, Thermax, Power Sector, Power Grid Corporation, Textile Sector, Thinksoft Global, Rolta, Hero Honda, EMCO, Tata Motors, Tata Steel & ICICI Bank
The Indian markets started off a new trading week on a positive note, as bulls put up a stellar show despite nagging concerns on inflation and its impact on monetary policy. Today’s strong rally in India was witnessed despite a 6% cut in Japan’s Nikkei index following the deadly earthquake and tsunami that rattled the nation on March 11.
The Japanese shares nose-dived, notwithstanding the BOJ's move to inject US$86bn to stabilize the financial markets. The central bank also decided to expand its asset purchase programme to shore up the economy. But, other Asian markets managed to avert a steep fall with the Hang Seng index and the Shanghai Composite ending in the green.
India and China record gains, Japan stocks tumble 6% amid quake aftermath
The Asian markets witnessed a mixed outing today though the overall sentiments were hurt after the devastating 8.9 8.9-magnitude earthquake in Japan on Friday. The earthquake and the ensuing tsunamis have lead to a loss of around 10000 lives and the natural calamity is being held as the worst disaster for the second largest economy in Asia since World War II. Today, media reports stated that a hydrogen explosion rocked Japan's stricken Dai-ichi nuclear plant in Fukushima - second such blast in three days. The US stocks had a good outing on Friday, with bargain hunting leading the index linked counters higher after the stocks hit one-month closing on Thursday. The Dow added 59.48 points or 0.5 percent to close at 12,044.09.
A decline in crude oil prices to below the psychological $100 a barrel level aided a rally on the domestic bourses, with the oil's fall offsetting data showing higher headline inflation in February 2011. Reports that the Union Cabinet is likely consider a Constitution Amendment Bill tomorrow, 15 March 2011, to pave the way for implementation of Goods and Services Tax (GST), also boosted sentiments. The GST is a major indirect tax reform. Most Asian markets recovered after a subdued start even as Japanese stocks tumbled as investors continued to assess the financial impact of Friday's (11 March 2011) devastating earthquake that hit Japan.
The Indian markets are set to start the session lower mirroring weak Asian cues; the inflation numbers for February 2011 will be eyed
Headlines for the day:
HDFC Bank hikes FD, lending rates
AV Birla set to join race for $3.2 billion Australian miner
PTC Financial Services IPO to open on March 16
HPCL to merge Prize Petroleum Co Ltd with itself. (ET)
Bharti Airtel drops bid to buy governments 30% in Hexacom. (ET)
Bombay High Court admitted a winding-up plea against Wockhardt in a lawsuit brought by holders of US$74mn worth of FCCB. (ET)
Japan’s Nippon may buy 26% stake in Reliance Life for US$724mn. (ET)
The Indian markets ended another tumultuous week down with the NSE Nifty closing below the 5450 mark. The mood got soured after a devastating earthquake hit northeast Japan that triggered a massive Tsunami and killed dozens of people. The latest bad news from the foreign shores added to the list of concerns that cast a pall of gloom over the markets this week.
Courage, in the final analysis, is nothing but an affirmative answer to the shocks of existence.- Kurt Goldstein.
Japan has been rattled by a natural calamity of monumental proportion. Expectedly, Japanese shares have taken a severe beating despite the BOJ injecting $86bn to stabilize markets. After the double whammy of quake and Tsunami, Japan is now staring at a potential nuclear disaster. But, other Asian markets have managed to avert a steep fall as did the US markets.
The market is likely to open lower tracking weak Asian equities. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 13.50 points at the opening bell. As per provisional figures, foreign funds sold shares worth Rs 243.58 crore and domestic funds bought shares worth Rs 112.24 crore on Friday, 11 March 2011.
Mixed finish for precious metals on a weekly basis
Precious metal prices overcame early weakness and ended higher on Friday, 11 March 2011 at Comex. Prices rose as traders turned their focus to precious metals as tensions continued in Libya and powerful earthquake coupled with Tsunami hit Japan.
Red metals registers strong weekly losses
Copper prices rose marginally at Comex on Friday, 11 March 2011. Prices traded in narrow range as powerful earthquake coupled with Tsunami hit Japan thereby fuelling demand concerns.
Earthquake at Japan push prices lower
Oil prices dropped on Friday, 11 March 2011. Prices dropped as powerful earthquake coupled with Tsunami hit Japan thereby fuelling demand concerns.
On Friday, crude oil futures for light sweet crude for April delivery closed lower by $1.54 (1.4%) at $101.16/barrel. Prices touched a low of $99.01 during intra day trading. For the week, prices closed lower by 3.1%.