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Monday, June 13, 2011

Markets end flat in choppy trade

Markets close the first day of the week on a flat note. The Sensex down by 3 points and the Nifty down by 3 points.

Major headlines

Titan hits 52-week high on bonus, stock split nod

Max India allots shares to Goldman Sachs arm; stk soars

Atul Auto gains on plans to foray into LCV segment

NSE Bulk Deals to Watch - June 13 2011

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
13-JUN-2011,AANJANEYA,Aanjaneya Lifecare Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,191252,324.31,-
13-JUN-2011,ACROPETAL,Acropetal Tech Ltd,BASMATI SECURITIES PVT LTD,BUY,12008,21.00,-
13-JUN-2011,ACROPETAL,Acropetal Tech Ltd,INDIA MAX INVESTMENT FUND LTD,BUY,950000,21.00,-
13-JUN-2011,ACROPETAL,Acropetal Tech Ltd,INDRAVARUN TRADE IMPEX PVT LTD,BUY,38040,21.00,-
13-JUN-2011,FIRSTLEASE,First Leasing Company ,AJAY,BUY,278699,110.26,-
13-JUN-2011,FIRSTLEASE,First Leasing Company ,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,641997,110.21,-

Nifty June 2011 futures above 5500

Turnover drops

Nifty June 2011 futures were at 5501.90, at a premium of 19.10 points over spot closing of 5482.80. Turnover on NSE's futures & options segment declined to Rs 82244.24 crore from Friday's (10 June 2011) Rs 89453.69 crore.

Market recovers from 2-week trough

The key benchmark indices recovered as bargain hunting emerged after the market hit its lowest level in more than two weeks at the onset of the trading session. The barometer index BSE Sensex ended 2.51 points or 0.01% lower, up close to 145 points from the day's low and off close to 45 points from the day's high. Capital goods, consumer durables and infrastructure stocks gained. Metal stocks declined. Auto stocks rose on bargain hunting. The market breadth turned positive from negative in late trade. Index heavyweight Reliance Industries edged lower.

Daily News Roundup - June 13 2011

GAIL is making a non-binding bid for acquiring 20% interest in shale gas assets owned by a US company; the deal is estimated to cost some US$400-500mn. (TOI)

Reliance Industries to buy Bharti's 74% stake in insurance venture with AXA. (FE)

DGH refuses to accredit three natural gas discoveries made by Reliance Industries at its KG-D6 block. (ET)

PM assures support to set up refinery at Cairn-run oilfields. (ET)

Sensex slips on IIP data...Nifty ends below 5500

The Indian equity markets ended in the red for a third straight trading session on Friday, with the NSE Nifty closing below the crucial 5500 mark, as index heavyweights like L&T, Tata Steel, ICICI Bank and Hero Honda succumbed to fresh round of selling. The market sentiment was hit after the release of disappointing industrial production data.

India's industrial output grew by 6.3% in April 2011 as per the new series. This was lower as compared to the 8.8% expansion in March as per the new series. As far a the old series is concerned, Industrial output grew by a modest 4.4% in April this year versus 7.3% in March 2011.

Getting worse?

Time is that quality of nature which keeps events from happening all at once. Lately it doesn't seem to be working. - Anonymous.

The UPA II regime has really not lived up to expectations so far. The government has its task cut out on multiple battle fronts - be it inflation, corruption or foreign policy. Policy making is in a limbo and India Inc. is not amused, nor is the market. So, it remains to be seen if Manmohan Singh & Co. can still resurrect the situation.

Gap-down opening on the cards

The Indian indices head towards a lower start tracking losses across the globe. The trend on the Dalal Street is likely to remain range bound.

Headlines for the day:

Essar eyes Indonesia, Australia resources to meet domestic demand

Kingfisher may lease more planes, eye PEs for funds

HPCL Mumbai refinery to shut half of capacity for two-month revamp

Market may extend losses on weak Asian stocks; RIL in focus

The market may extend recent losses on weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 21.50 points at the opening bell. Foreign institutional investors (FIIs) sold shares worth Rs 170.05 crore and domestic funds bought shares worth Rs 336.98 crore on Friday, 10 June 2011, as per provisional figures released by the stock exchanges.

The key benchmark indices reached their lowest closing level in nearly two weeks on Friday, 10 May 2011. The BSE Sensex lost 116.36 points or 0.63% to 18,268.54, its lowest level since 30 May 2011 on that day.

Precious metals turn pale

Gold registers modest weekly losses but silver witnesses weekly gains

Precious metals dropped substantially on Friday, 10 June, 2011 at Comex. Prices fell as the dollar strengthened. The dollar found support on Friday following fresh concerns about Greece's debt problems. Prices also dropped in tandem with slipping oil prices.

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.

Weak day for base metals

Chinese data and strong dollar tarnish prices

Red metal price dropped at Comex on Friday, 10 June 2011. Prices dropped in tandem with other commodities on Friday. Strong dollar and weak trade data from China hampered prices.

Copper for July delivery ended lower by 5 cents (1.3%) to end at $4.06 a pound at Comex on Friday. For the week, the red metal lost 1.7%. Copper had ended flat for the month of May.

On Friday, three-month-delivery copper on the London Metal Exchange ended lower by $58 (0.7%) at $8,988 a metric ton.

Crude witnesses steep fall

Strong dollar, Chinese data and monthly outlook from OPEC impact prices

Crude oil prices plunged on Friday, 10 June 2011 at Nymex. Prices dropped following a strong dollar, data from China and latest monthly outlook on crude from OPEC.

On Friday, crude oil futures for light sweet crude for July delivery closed lower by $2.64 (2.6%) at $99.24/barrel. For the week, crude lost 0.9%. Crude had lost 9.9% for the month of May.

SGX Nifty Live Update - June 13 2011

5,465.00 -20.50