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Tuesday, August 09, 2011
Sensex escapes major slide...Nifty ends above 5000
Sensex ended at 16,858 losing 132 points. Nifty closed at 5,072 losing 46 points.
It was yet another day of agony for equity markets not just in India but across the globe, as jittery investors continued to dump risky assets amid fear that the fiscal stress in the US and Eurozone will hurt the global economy. Just when we thought that the markets are in oversold zone and therefore could bounce back came another wave of sell-off across the world markets after the S&P downgraded the US top rating. In addition, the sentiment remained low as the FIIs continued their off loading on Dalal Street.
BSE Bulk Deals to Watch - Aug 9 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
9/8/2011 590006 Amrutanjan Health-$ CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 24386 827.93
9/8/2011 590006 Amrutanjan Health-$ A K G SECURITIES AND CONSULTANCY LTD B 19033 829.20
9/8/2011 590006 Amrutanjan Health-$ A K G SECURITIES AND CONSULTANCY LTD S 19033 829.40
NSE Bulk Deals to Watch - Aug 9 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
09-AUG-2011,AMRUTANJAN,Amrutajan Health Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,24386,828.04,-
09-AUG-2011,CREWBOS,Crew B.O.S. Products Limi,MULTIPLIER S AND S ADV PVT LTD,BUY,90038,39.00,-
09-AUG-2011,ESSELPACK,Essel Propack Ltd.,GANJAM TRADING CO PVT LTD,BUY,2500000,38.43,-
09-AUG-2011,IFBAGRO,IFB Agro Industries Ltd,INDIA EQUITY GROWTH FUND LIMITED,BUY,70995,142.97,-
Sensex extends 6-day fall, ends 132 points lower
Markets close a highly volatile session with losses as nervous investors continued to dump risky assets
Major headlines
ABB Q2 net profit marginally up by 1%
RIL gets govt nod for BP deal
Markets to bounce back in few days: C Rangarajan
Nifty August 2011 futures below 5100
Turnover surges
Nifty August 2011 futures were at 5,095.60, at a premium of 14.75 points over spot closing of 5,072.85. Turnover in NSE's futures & options segment surged to Rs 197832.06 crore from Rs 168902 crore on Monday, 8 August 2011.
Infosys August 2011 futures were at 2391.20, at a premium over spot closing of 2374.55.
Asian stocks off their lows after DOW drops 600
A gut-wrenching drop in the US markets in overnight trades hurt the sentiments for the Asian stocks though an intraday recovery caps the losses
A gut-wrenching drop in the US markets in overnight trades hurt the sentiments for the Asian stocks today, though the investors nibbled select stocks at attractive valuations after the latest spate of losses. The markets were off their lows but global growth worries rule the roost. The US markets took a massive beating yesterday with S&P 500, the index that measures broad US stock market activity, slumping down 7%, witnessing its largest drop since December 2008. DOW slumped by a whopping 635 points, or 5.5% to close at 10,855.87.
Sensex, Nifty at 14-month closing lows as FIIs press heavy sales
Data showing recent heavy selling by foreign institutional investors (FIIs) and growing fears of another recession in the US, the world's biggest economy, pushed Indian shares lower for the sixth day in a row. The barometer index BSE Sensex and the 50-unit S&P CNX Nifty reached 14-month closing lows. High intraday volatility was witnessed for the second day in a row. NSE's volatility index, India VIX, surged to 34.88% from its close of 28.78% on Monday, 8 August 2011.
The Nifty regained the psychological 5,000 level after falling below that mark at the onset of the trading session. The Sensex fell below the psychological 17,000 mark after regaining that level for a brief period in afternoon trade. The Sensex shed 132.27 points or 0.78%, up 425.91 points from the day's low and off 277.13 points from the day's high.
Grey Market Premiums - Aug 9 2011
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Vaswani Ind. | 49 | 1.50 to 2 |
| L & T Finance | 52 | 2 to 2.50 |
| IIFL Bond | 1000 | 3 to 3.25 |
| Tree House of Education & Accessories | 135 to 153 |
|
| Shriram City Union Bond | 1000 | 12 to 13 |
Market seen extending five-day sell-off on global carnage
The market is geared for a dismal start on weak global cues amid growing alarm the US, the world's biggest economy, is sliding back into recession. Trading of S&P CNX Nifty on the Singapore stock exchange indicates a slump of 201 points at the opening bell.
Key benchmark indices fell for the fifth straight day on Monday, 8 August 2011 to hit 14-month closing lows as an unprecedented downgrade of the US credit rating by Standard & Poor's on Friday, 5 August 2011, led investors to reduce exposure to assets perceived as risky and escalated worries about global economic outlook. The BSE Sensex lost 315.69 points or 1.82% to settle at 16,990.18, its lowest closing level since 10 June 2010 and the S&P CNX Nifty declined 92.75 points or 1.78% to 5,118.50, its lowest closing level since 10 June 2010.
Markets may see a terrible start on global meltdown
Today’s start is excepted to be scary looking at a drastic fall across the globe. Panic selling will led to a terrible trade.
Headlines for the day:
Pranab promises fast-track reforms
AI's defaults may hit Indian banks, warns Moody's
Economists hopeful of pause in rate rise cycle in September
Major corporate action
Results: ABB, GMR Infrastructure, Gujarat State Petronet Ltd., Tata Communications, United Breweries
Ex-date for final dividend of Cipla
Ex-date for interim dividend of MRF
Bullions shine following downgrade of US's debt by S&P
Yellow metal strikes all time record high crossing the $1,700 mark
Precious metals scaled to record highs on Monday, 08 August 2011 at Comex. News that Standard & Poor's downgraded US debt last weekend kept stocks under heavy pressure on Monday, 08 August 2011. In turn, the investors tried to escape from equities and flock to bullions, which are seen as much safer and better bets in times of turbulence. Prices rose despite a strong dollar.
Crude plunges on economic concerns
Prices witness lowest settlement since last November
Crude prices ended substantially lower on Monday, 08 August 2011 at Nymex. Prices plunged as recent economic conditions questioned the demand and outlook for crude in the coming months to come. News that Standard & Poor's downgraded US debt last weekend kept stocks under heavy pressure on Monday, 08 August 2011. Prices also slipped following a strong dollar.
Daily News Roundup - Aug 9 2011
The price benchmarks set by Indonesia for export of coal may create hurdles for the power sector, including group outfit Adani Power Ltd, in the "immediate future".(BL)
With the Supreme Court permitting NMDC to mine iron ore from its two sites at Bellary, Karnataka, JSW Steel said that it will run its plants at Vijayanagar and Salem, Tamil Nadu at 80% capacity(BS)
Rating agency Moody’s on Monday said recurring payment defaults by the ailing carrier Air India can adversely impact the asset quality and capital base of Indian banks.(FE)
Sensex slammed again as global rout continues
The Indian equity markets continued to suffer badly from the aftershocks of turmoil in the US and European markets. The S&P's downgrade of the US top rating spooked global markets, sending investors scurrying for cover. The trading was also volatile with the indices recovering in the afternoon before turning lower again.
The NSE Nifty fell by almost 100 points, kicking off the week on a sour note after last week's ~5% drop. Although there was a pull-back, which saw the Nifty bounce back to 5200 levels, the recovery could not be sustained as the the Dow Jones stock futures and European markets tumbled anew. Several reassuring statements from the Government and the RBI were of no help.
Savage garden…Truly, Madly, Deeply!
The rational mind of man is a shallow thing…wherein thin colonies of reason have settled amid a savage world. - Wilford O. Cross.
If you thought the Monday mayhem was something, wait, there is yet another bloodbath waiting to happen at start today. The tremors of the S&P’s bold but debatable US downgrade continue to deeply cut world markets. Predicting when the current tsunami will subside is like catching a falling knife. Avoid needless bravado and wait for the financial storm to pass.
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