(Upper Price Band)
Aanjaneya Life Care
(Middle Price Band)
54 to 63
36 to 40
Wednesday, May 25, 2011
Prices take a big leap due to a host of factors
Crude oil prices ended substantially higher on Tuesday, 24 May 2011 at Nymex. Prices rose due to a host of factors. Report on China's oil demand for last month, low dollar and upgradation of oil price forecasts pushed prices higher on Tuesday.
On Tuesday, crude oil futures for light sweet crude for July delivery closed higher by $1.89 (1.9%) at $99.59/barrel. Last week, crude lost 0.2%. Crude oil had climbed 6.8% for the month of April.
The Indian markets head towards a negative opening tracking weak Asian indices. Bank of India, Cairn India, Coal India, Tata Steel will declare results today
Headlines for the day:
Infosys gets US court subpoena on visa issue
IOC to look for partner for LNG terminal
Banks eye HDFC Bank's loan to Aditya Birla Chem
Ministry of environment and forests has tied up with RIL to set up a National Centre for Marine Biodiversity in Jamnagar, the first research institute in the PPP mode. (FE)
A district court in Texas, US, has issued a subpoena to Infosys Technologies seeking details of the company’s use of B-1 business visas. (BS)
Punjab National Bank is close to buying as much as 33% stake in MetLife India. (ET)
Wipro, in collaboration with Belgian research institute IMEC is setting up a high-end nanotechnology R&D centre in Bangalore. (ET)
After a steep fall on Monday, the Indian markets ended with modest gains on Tuesday amid some volatility ahead of the F&O expiry. The key stock indices started off with smart gains despite weak cues from the US and European equity markets. However, the Asian indices recovered from the previous session's drubbing and European markets too managed to break the recent sequence of losses. As a result, the sentiment on Indian bourses too improved.
FMCG, Realty and PSU stocks were among the major laggards. On the other hand, Capital Goods, Consumer Durables and Banking stocks were in demand.
"The sharp thorn often produces delicate roses." - Ovid.
We are heading into crucial two-day trading as the expiry of current month’s F&O contracts take centerstage. The market is delicately poised with the Nifty just below 5400. The start today is likely to be down. Asian markets are in the red. US stocks closed lower while European indices managed slim gains.
Weak dollar push prices higher
Precious metals ended higher on Tuesday, 24 May, 2011 at Comex. Prices rose on Tuesday following a weak dollar as ongoing problems of the Eurozone pushed investors towards bullions as a safer investment bet.
Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa. But bullion metals have registered increase in prices despite strong dollar in recent times and vice versa.
The market may fall on weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 39.50 points at the opening bell. Foreign institutional investors (FIIs) bought shares worth Rs 188.16 crore and domestic funds bought shares worth Rs 32.95 crore on Tuesday, 24 May 2011 as per provisional figures released by the stock exchanges.
Volatility may heighten in the near term as traders roll over positions in the derivatives segment from the near-month May 2011 series to June 2011 series, ahead of the expiry of the May 2011 derivatives contracts on Thursday, 26 May 2011.
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
24/5/2011 533330 ACROPET TEC INDIA MAX INVESTMENT FUND LIMITED B 200000 25.00
24/5/2011 523411 Adc India Comm-$ LRSD GLOBAL HOLDINGS PRIVATE LIMITED B 42940 135.40
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
24-MAY-2011,ACROPETAL,Acropetal Tech Ltd,INDIA MAX INVESTMENT FUND LTD,BUY,200000,25.00,-
24-MAY-2011,PARAPRINT,Paramount Printpack Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,253403,24.78,-
24-MAY-2011,SABERORGAN,Sabero Organics Gujarat ,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,199761,89.22,-
The Indian markets closed the volatile trade marginally higher. The Sensex surged 19 points and the Nifty rose 8 points
Power Grid net profit up 32% in FY11
REC FY11 consolidated net profit soars 28%
Bharat Forge net profit up 64% in Q4
Firm global markets helped Indian stocks recover from 9-week lows hit in mid-afternoon trade. Intraday volatility was high as traders rolled over positions in the derivatives segment from the near-month May 2011 series to June 2011 series, ahead of the expiry of the May 2011 derivatives contracts on Thursday, 26 May 2011. The BSE 30-share Sensex was up 18.64 points or 0.1%, up close to 80 points from the day's low and off close to 100 points from the day's high.