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Tuesday, July 19, 2011
Sensex makes smart gains, ends 147 points higher
The Indian market staged a smart comeback in the second half of trade and closed higher led by gains in index heavyweights and positive global cues
Major headlines
HDFC Bank Q1 net profit up 34%
Cadila Healthcare Q1 consolidated net profit up 15%
Ashok Leyland Q1 net profit dips 30%
Nifty July 2011 futures above 5600
Turnover jumps
Nifty July 2011 futures were at 5,619, at a premium of 5.45 points over spot closing of 5,613.55. Turnover in NSE's futures & options jumped to Rs 118324.49 crore from Rs 82265.22 crore on Monday, 18 July 2011.
Inventure Growth and Securities IPO Analysis
Inventure Growth and Securities (IGSL) is a financial intermediary company promoted by Nagji K. Rita. The company offers a host of services like trading services in equity cash and derivatives market, debt market, commodities and currency futures segment, financing, wealth management, and distributions of financial products. The company has a diversified clientele base that includes institutional clients, high net worth individuals and retail investors.
Market scales one-week high as strong earnings boost European shares
Key benchmark indices surged to their highest closing level in more than a week as European stocks and US index futures rose on the back of solid financial results from Swiss pharmaceuticals group Novartis AG and an upward revision in full year earnings forecast on Monday, 18 July 2011, from IBM, the world's biggest computer-services company. The market snapped losses in the preceding two trading sessions. The BSE Sensex rose 146.83 points or 0.79%, off about 40 points from the day's high and up close to 170 points from the day's low. The market breadth was positive.
BSE Bulk Deals to Watch - July 19 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
19/7/2011 532475 Aptech CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 382134 123.69
19/7/2011 532475 Aptech A K G SECURITIES AND CONSULTANCY LTD B 441780 126.01
19/7/2011 532475 Aptech A K G SECURITIES AND CONSULTANCY LTD S 441780 126.25
19/7/2011 532475 Aptech CROSSEAS CAPITAL SERVICES PRIVATE LIMITED S 382134 123.62
19/7/2011 505029 Atlas Cycle RKSV SECURITIES INDIA PRIVATE LIMITED B 26121 336.64
NSE Bulk Deals to Watch - July 19 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
19-JUL-2011,ALPHAGEO,Alphageo (India) Limited,KANCHANBEN AJITKUMAR JAIN,BUY,30856,145.58,-
19-JUL-2011,APTECHT,Aptech Limited,AJAY,BUY,266189,124.88,-
19-JUL-2011,APTECHT,Aptech Limited,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,381560,123.55,-
19-JUL-2011,ATLASCYCLE,Atlas Cycles (Haryana) Lt,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,23599,349.18,-
Grey Market Premiums - July 19 2011
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Vaswani Ind. | 49 | 2 to 2.50 |
| Bharatiya Global | 75 to 82 | 1.50 to 2 |
| ONGC (FPO) | -- | -- |
| Inventure Growth | 100 to 117 | 2 to 3 |
Bright day for bullions
Prices rise on the face of a strong dollar
Precious metals ended substantially higher on Monday, 18 July, 2011 at Comex. Gold struck record high. Silver also shone. Concerns about the euro-zone debt crisis and the lack of agreement on raising the U.S. debt ceiling prompted investors to seek a safe haven in the precious metal. Prices rose on the face of a strong dollar.
Crude ends modestly lower
Demand concerns and strong dollar weigh on crude prices
Crude prices ended lower on Monday, 18 July 2011 at Nymex. Concerns about the euro-zone debt crisis and the lack of agreement on raising the U.S. debt ceiling gave rise to demand concerns. A strong dollar further put pressure on crude oil.
On Monday, crude oil futures for light sweet crude for August delivery closed lower by $1.31 (1.4%) at $95.93/barrel. Crude ended June 2011 lower by 7%. Year to date, crude prices are higher by 5.5%.
Market may open lower on weak Asian stocks; HDFC Bank in focus
The market may open lower extending two days losses on weak Asian stocks. Trading of S&P CNX Nifty on the Singapore stock exchange indicates a fall of 9.50 points at the opening bell. FIIs sold shares worth a net Rs 93.01 crore on Monday, 18 July 2011, as per provisional data from the stock exchanges. Domestic institutional investors (DIIs) bought shares worth Rs 163.62 crore on that day.
Key benchmark indices edged lower for the second straight day on Monday, 18 July 2011 and were near one-week closing lows as world stocks fell on Europe's sovereign-debt worries and amid a political standoff in the US over raising the US government's debt limit. The BSE Sensex was down 54.88 points or 0.3% to 18,507.04, its lowest level since 12 July 2011.
Daily News Roundup - July 19 2011
Lupin Ltd is considering selling its unit that markets medicines in India (ET)
JSW Steel is likely to take production cuts at its 10 mtpa steel plant at Toranagal in Bellary district of Karnataka owing to severe shortage of iron ore, the key raw material to make steel. (BS)
Polaris Software Ltd forayed into Bangladesh market by launching a joint venture company along with Bangladesh-based public sector Bank Sonali Bank Ltd. (FE)
Sensex struggles to a muted close
Traders and investors could be forgiven for feeling relieved when the closing bell range today, marking an end to what was a highly boring and anemic trading session.
Although some of the non-index counters saw better price action, the overall mood was subdued. With no major results due today, the focus was on the overseas markets, which continue to reel under the debt issues confronting the US and Eurozone economies.
Tepid Tuesday…rangebound action!
A mind troubled by doubt cannot focus on the course to victory. - Arthur Golden.
Trouble for the market continues amid heightening worries over the debt distress in the US and eurozone. Officials in both these regions seem to be struggling to reach some agreement on how best to tackle the problem. Lingering concerns about the fragile state of the global economy is driving investors to the relative safety of precious metal. Gold futures have crossed $1,600; and in India also the prices of the yellow metal have hit a record high. Silver too has appreciated lately.
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