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Wednesday, April 13, 2011

Daily News Roundup - Apr 13 2011

Coal India Ltd has been conferred the coveted Maharatna status, giving company autonomy for taking investment decisions. Neyveli Lignite Ltd has also been awarded Navratna status. (BS)

Coal India is planning to invite coal-bed-methane players to capture methane in the five existing underground mines in the Jharia and Bokaro coalfields in Jharkhand. (BL)

Oil ministry has sought security clearance from the home ministry for UK’s BP to buy 30% stake in most of RIL oil and gas blocks, including KG-D6 fields. (ET)

Sensex, Nifty end in the red

BSE Sensex ended at 19,262 losing 188 points.While, NSE Nifty lost 56 points to close at 5,785.

The Indian markets were constantly under pressure today after disappointing February IIP numbers.

The decline was led by Realty, Auto and Consumer Durables. Even the Mid-Cap and the Small-Cap stocks were under pressure.

Relax and be flexible

"Stay committed to your decisions, but stay flexible in your approach." - Tom Robbins

There is no choice but to relax and wait for some clear trend. The indices seem to have lost their winning ways in recent times. The truncated week is only adding to the lack of interest. On Monday, sentiment was dampened to an extent after industrial growth slowed down to 3.6% in February compared with 15.1%expansion in same month last year. Poor performance by manufacturing and mining were the culprits here.

Daily Reports - Apr 13 2011

Daily Reports - Apr 13 2011

Weak global cues may weigh on markets at start

The Indian markets head towards a negative opening and likely to extend its losing momentum for the fifth straight session on account of weak global markets

Headlines for the day:

NTPC, RIL join hands to ease Andhra power woes

Parsvnath promoters revoke 5 crore shares

GMR to raise $150 million for its airports business

Mixed close for precious metals

Gold slips but silver adds a tad

Precious metal ended mixed on Monday, 11 April 2011 at Comex. Yellow metal ended lower while silver ended a tad higher. Prices stopped touching record highs after dollar strengthened following last week's weakness. Investors took profits following the record highs and some discussion in Washington about curbing the U.S. debt also took a toll on gold prices.

Crude drops from recent highs

Demand concerns and strong dollar weigh on prices

Oil prices dropped from their recent highs on Monday, 11 April 2011 at Nymex. Prices dropped as the dollar strengthened and also on demand concerns as aftershocks continued to rattle Japan following last month's sever tsunami and earthquake.

SGX Nifty Live Update - Apr 13 2011

5,736.50 -61.50