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Thursday, June 02, 2011

Sintex Industries

Sintex Industries

IT Services

IT Services



ABG Shipyard

ABG Shipyard

Visa Steel

Visa Steel

Market snaps two-day rally as world stocks drop

The key benchmark indices snapped two-day gains as weak global stocks sapped risk appetite. The BSE Sensex was down 114.63 points or 0.62%, up close to 105 points from the day's low and off close to 45 points from the day's high. The market breadth was weak. Reliance Anil Dhirubhai Ambani (ADA) Group stocks reversed intraday gains. Media reports after market hours suggested that the court has dismissed a plea for charging group chairman Anil Ambani in 2G scam. Metal and realty stocks also declined.

Index heavyweight Reliance Industries (RIL) edged higher. FMCG stocks also rose on rumours US-based Procter & Gamble is contemplating a 38 billion pound bid for its European rival Unilever. IT stocks declined on selling pressure. Banking pivotals were mixed.

Weak global cues drag Sensex 115 points lower

The Indian markets drifted lower snapping two-day winning streak as weak global cues weigh. The Sensex closed below 18500 level.

Major headlines

PIL filed against Dayanidhi Maran; Sun TV down 28%

Bank credit grows 22.3% in May

Economy may grow by 8.5% in FY12: Rangarajan

BSE Bulk Deals to Watch - June 2 2011

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
2/6/2011 512535 Asahi Infra NEWGEN INTERNATIONAL PVT LTD B 184802 9.01

NSE Bulk Deals to Watch - June 2 2011

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
02-JUN-2011,AANJANEYA,Aanjaneya Lifecare Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,96776,322.25,-
02-JUN-2011,CLUTCHAUTO,Clutch Auto Limited,AJAY,BUY,110003,65.10,-
02-JUN-2011,CLUTCHAUTO,Clutch Auto Limited,BP FINTRADE PRIVATE LIMITED,BUY,200467,67.46,-

Grey Market Premiums - June 2 2011

Company Name

Offer Price




Vaswani Ind.


(Upper Price Band)

-3 to -5


Timbor Home

54 to 63

4 to 4.50

VMS Industries

36 to 40

2.50 to 3

Daily Market Report - June 2 2011

Daily Market Report - June 2 2011

Weak global cues to drag markets lower at start

The start is expected to be on a weak note on account of un supportive global cues. Weekly inflation numbers will be announced today.

Headlines for the day:

LIC launches new health insurance plan

Cairn Energy may give up non-compete fee on Vedanta deal

Shipping Corp may place orders for 24 ships in FY12

Market may fall on weak Asian stocks; food inflation data eyed

The market may fall, snapping two days gains on weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a slide of 59.50 points at the opening bell. Foreign institutional investors (FIIs) bought shares worth Rs 445.22 crore and domestic funds sold shares worth Rs 141.96 crore on Wednesday, 1 June 2011, as per provisional figures released by the stock exchanges. The BSE Sensex was up 105.53 points or 0.57% to 18,608.81 on Wednesday, its highest closing level since 2 May 2011.

Daily News Roundup - June 2 2011

Maruti May car sales up 1.9% to 104,073 units, Tata Motors May sales dips 9% to 19,401 units. (ET)

TVS Motors May sales up 18% to 181,891 units, Hero Honda May sales up 15% to 500,234 units. (ET)

Bharti Airtel signs contract with Huawei to modernise and expand its 2G and 3G networks in Africa. (ET)

Reliance Communication approaches ATC to sell its controlling stake in Reliance Infratel. (BS)

Sensex cracks a ton...Nifty ends near 5600

The key Indian equity indices closed higher for a second day in a row on Wednesday, as mixed economic reports strengthened the belief that the RBI may not take an aggressive stance on monetary policy going forward. The Indian stocks had rallied on Monday after Q4 GDP came in below estimates, stoking speculation that the central bank could turn less hawkish to avert a further drop in economic momentum.

Global sell-off…lack of conviction

You must stick to your conviction, but be ready to abandon your assumptions. - Denis Waitley.

Mounting evidence of an economic slowdown have resulted in a short supply of confidence and conviction. If the GDP data was not enough, reports now show weakness in the core sector and manufacturing. Auto sales have not been spectacular either. It remains to be seen how the RBI reacts to these data points on June 16. Before that we will have to contend with the EGoM on fuel prices on June 9, unless it gets postponed again. April IIP data will be out on June 10 and May inflation will be announced on June 14.

SGX Nifty Live Update - June 2 2011

5,535.50 -57.00

Coal India - Outperformer

Coal India - Outperformer

Fortis Healthcare

Fortis Healthcare

Strategy, Punj Lloyd, Nagarjuna Construction, ONGC, Hindalco, Zee Entertainment Enterprises, Economy

Strategy, Punj Lloyd, Nagarjuna Construction, ONGC, Hindalco, Zee Entertainment Enterprises, Economy