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Wednesday, June 29, 2011
Asia-pacific stockmarket ends modest higher on improve risk appetites
Hopes of positive news from Greece front plays role
Most of Asia-pacific market ended modest higher on Wednesday, June 29, 2011, as risk hunger investors chased for bargain, thanks to positive rally on the European and United State equity market overnight, stronger commodity prices, and amid optimism over the Greece vote later in the day as well as China Premier Wen's speech on a possible increase of investment in European debt
Buying appetite continued for riskier equities on growing expectations that the Greek lawmaker will approve the austerity measures aimed as preventing a default as well as news that German banks have agreed in principle to roll over about $10 billion in Greek government debt. A vote on the package is scheduled for Wednesday and a vote on the implementation legislation for Thursday.
BSE Bulk Deals to Watch - June 29 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
29/6/2011 522150 Aditya Forge NITIN RASIKLAL PAREKH (HUF) B 25000 9.72
29/6/2011 530499 AK Capital DERIVE TRADING PRIVATE LIMITED B 58000 315.00
29/6/2011 530499 AK Capital MAULIK BIPIN BAGADIA B 80000 315.00
29/6/2011 530499 AK Capital DERIVE INVESTMENTS S 138000 315.00
29/6/2011 590114 Arunjyoti Enterprises SHASHIKANT KESHAVLAL SHAH B 31000 50.65
NSE Bulk Deals to Watch - June 29 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
29-JUN-2011,DELTACORP,Delta Corp Limited,MANISH VRAJLAL SARVAIYA,BUY,1368647,101.00,-
29-JUN-2011,ECEIND,ECE Industries Limited,MUDRIKA GOODS PRIVATE LIMITED,BUY,384246,107.55,-
29-JUN-2011,EXCELINFO,Excel Infoways Limited,JHAVERI TRADING AND INVESTMENT PVT LTD,BUY,116116,29.93,-
Sensex ended at 18,694 adding 201 points. Nifty closed at 5,600.4 adding 55 points.
It was another splendid day on the Indian bourses, with the main equity indices ending with smart gains on the back of healthy global cues and improved FII inflows. With this, the Indian market has extended the recent upswing to five straight trading sessions.
The benchmark indices registered their longest winning streak in almost three months. The Nifty closed above the 5600 mark for the first time since May 2.
The indices opened with a gap and from there on there was no looking back. The Nifty rose steadily throughout the day, led by FMCG, Metals and Banking stocks. The Mid-Cap and the Small-Cap index gained 0.8% each.
Firm global cues boost markets for 5th day; Sensex up 201 pts
The Indian markets extended rally and closed the trade on a buoyant note with the support coming in from global equities and improved FII inflows
Major headlines
Bharat Electronics FY11 consolidated net profit up 19%
Supreme Court grants interim relief to Tata Motors
Apollo to Invest up to Rs2,250 crore in Welspun Group
Nifty July 2011 futures above 5600
Turnover rises
Nifty June 2011 futures were at 5,608, at premium of 7.55 points over spot closing of 5,600.45. Nifty July 2011 futures were at 5,629.95, at a premium of 29.50 points over spot closing of 5,600.45.
Turnover in NSE's futures & options segment rose to Rs 165385.58 crore from Rs 153997.90 crore on Tuesday, 28 June 2011. The near-month June 2011 futures derivatives contracts expire tomorrow, 30 June 2011.
Sensex vaults 6.5% in five days as FIIs resume buying
Key benchmark indices extended their winning streak to the fifth day to attain their highest closing level in more than eight weeks as world stocks rose, buoyed by hopes that the Greek parliament will vote in favor of additional austerity measures. The BSE Sensex jumped 201.41 points or 1.09%, up about 140 points from the day's low and off close to 20 points from the day's high. The market breadth was strong. Recent aggressive buying by foreign funds underpinned sentiment.
FMCG stocks rose with ITC, Hindustan Unilever (HUL), Colgate and Marico hitting record highs. Consumer durables stocks also gained. Index heavyweight Reliance Industries (RIL) extended intraday gains in late trade. Metals stocks rose as prices of base metals rose on the London Metal Exchange. Steel giant Tata Steel rose more than 2% after the company's managing director Hemant Nerurkar said operating profit at the company's European unit will rise by two-thirds of its current level to $100 a metric tonne over the next three years. Bank stocks extended recent gains.
Grey Market Premiums - June 29 2011
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Vaswani Ind. | 49 | 5 to 7 |
| Birla Pacific Medspa | 10 to 11 | Discount |
| Rushil Decor | 63 to 72 | 3 to 3.50 |
| Ready Made Steel | 90 to 108 | 7 to 8 |
Markets may start strong on positive global cues
The markets may see a strong opening on account of gains across the globe and are likely to remain choppy ahead of June series F&O expiry.
Headlines for the day:
LIC acquires 10% stake in Andhra Bank
CCEA may decide on Cairn-Vedanta deal tomorrow
Lanco Infratech faces threat of export licence review in Australia
Daily News Roundup - June 29 2011
NTPC has started operations of the first super critical 660 MW unit at Sipat plant in Chattisgarh. (ET)
SAIL, BHEL and RINL have decided on a joint venture for building an integrated manufacturing unit for electrical and silicon grade steel. (BL)
ITC Ltd is planning to foray into dairy and beverage. It is also looking to take its various food and personal product brands global in the next five years. (BS)
Sensex up for 4th day…Nifty above 50, 100DMA
The Indian stock indices eked out modest gains on Tuesday, rising for a fourth consecutive trading session. The BSE Sensex closed within shouting distance of 18,500 and the NSE Nifty ended near 5,550.
Firm cues from the international equity markets coupled with encouraging FII inflows in the past few days enabled the benchmark indices to end in the positive terrain.
The Government's bold steps on fuel prices last week and optimism about Greece getting a fresh rescue package soon also played a role in the advance today.
Bright to begin with…
Hope is some extraordinary spiritual grace that God gives us to control our fears, not to oust them. ~Vincent McNabb.
The fuel price hike has suddenly fueled hopes of more reforms from UPA II. A cabinet reshuffle is on the cards shortly while the PM has decided to speak more frequently to the media. But, problems remain - largely in the form of high inflation, spiraling interest rates and drop in investments.
The Indian market has rallied for the past four sessions – the longest winning streak in three months. Hopefully, the rally may just have enough steam to last a bit longer.
Market may extend recent rally on firm Asian stocks
The market may extend four days gains on firm Asian stocks. The latest data showing that foreign institutional investors (FIIs) had stepped up buying of Indian stocks may also help sentiment. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 39 points at the opening bell. Foreign institutional investors (FIIs) bought shares worth Rs 819.41 crore and domestic funds sold shares worth Rs 575.06 crore on Tuesday, 28 June 2011, as per provisional figures released by the stock exchanges.
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