Thursday, August 11, 2011
After taking a breather, the Indian markets resumed their downward march and closed in the red at the end of a choppy session. The Indian markets showed pretty strong resilience against another big sell-off in the US and European markets.
Sentiment received a boost from moderate losses in other Asian markets and as large institutions turned out to be net buyers on Wednesday. However, a steep jump in food inflation and an intraday reversal in European markets checked gains for the Indian equities.
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
11/8/2011 531160 Arcadia Merc PREMILABEN MAHENDRAKUMAR SHAH B 41249 8.06
11/8/2011 532797 Autoline Inds CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 99544 151.31
11/8/2011 532797 Autoline Inds A K G SECURITIES AND CONSULTANCY LTD B 71847 151.24
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
11-AUG-2011,AUTOIND,Autoline Industries Limit,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,99701,150.80,-
11-AUG-2011,DBCORP,D.B.Corp Ltd,RELIANCE LIFE INSURANCE COMPANY LIMITED,BUY,2000000,237.50,-
11-AUG-2011,DCHL,Deccan Chronicle Hold Ltd,DECCAN CHRONICLE HOLDINGS LTD - BUY BACK ORD-WRONG CODE,BUY,1155738,65.97,-
The Indian markets ended with moderate losses amid extreme volatile trade. The Sensex falls 71 and the Nifty slips 23 points at the close.
Food inflation at 9.9% versus 8.04%
Reliance Power Q1 consolidated net profit at Rs1,961.21 million
Tata Motors Q1 consolidated net profit at Rs2,000 crore
Nifty August 2011 futures were at 5,128, at a discount of 10.30 points compared to spot closing of 5,138.30. Turnover in NSE's futures & options segment declined to Rs 107841.86 crore from Rs 127444.34 crore on Wednesday, 10 August 2011.
Tata Motors August 2011 futures were at 842, at a discount compared to spot closing of 850.
Key benchmark indices edged lower in choppy trade as an increase in food inflation raised concerns the central bank will stick to its tight monetary policy. The BSE Sensex lost 71.11 points or 0.42%, off close to 150 points from the day's high and up close to 45 points from the day's low. Index heavyweight Reliance Industries pared intraday gains. Reliance Infrastructure rose after the company said order book remains strong. Tata Power fell more than 4% despite good Q1 result. The market breadth was negative, having alternately swung between positive and negative terrain during the second half of the trading session.
Prices rise the first time in four days
Crude prices ended their long downward slide and rose on Wednesday, 10 August 2011 at Nymex. Prices rose following latest weekly inventory report from the Energy Department which showed a sudden drop in crude inventories for last week. Prices rose for the first time in four days despite a strong dollar.
Yellow metal strikes all time record high crossing the $1,800 mark during intraday trading
Precious metals scaled to record highs on Wednesday, 10 August 2011 at Comex. 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. News that Standard & Poor's downgraded US debt last weekend once again resumed heavy selling at Wall Street on Wednesday, 10 August 2011
The market may open flat to slightly lower tracking weak Asian stocks after US stocks tanked more than 4% on Wednesday on worries that Europe's debt crisis could engulf French banks and spill onto the world financial sector. Trading of S&P CNX Nifty on the Singapore stock exchange indicates a fall of 13 points at the opening bell. The government will today, 11 August 2011, unveil data on some wholesale price indices viz. the food price index, the primary articles index and the fuel price index for the year through 30 July 2011.
Piramal Healthcare has made its telecom debut by picking up a 5.5% stake in Vodafone Essar for USD640mn.(FE)
Fortis will pick up a 65% stake in Vietnam’s Hoan My Medical Corporation for USD64mn. (BL)
Maruti Suzuki India is working on customer specific marketing strategy to increase its sales among the first time buyers, a company official said. (BS)
After a couple of reckless trading sessions, equity markets across the globe saw some sanity, tracking a rally in US stocks that rose post the Fed’s assurance that it will keep rates at record low till at least the middle of 2013. Asian markets ended with smart gains, while the European markets too were trading with a positive bias.
The Indian markets saw some bottom fishing after 11 straight trading sessions. The interest rate sensitive Auto and Realty stocks led from the front. Index heavyweights like Tata Motors, Maruti, M&M and Bajaj Auto were among the major winners today. Among the other top gainers were in the Consumer Durables, Banking and Capital Goods space.
Power is so characteristically calm, that calmness in itself has the aspect of strength. - Edward G. Bulwer-Lytton.
Notwithstanding a fresh round of selling in the western markets, the start here is likely to be much calmer. Other Asian markets too are showing commendable resilience. Another positive is that both, FIIs and DIIs were net buyers on Wednesday. The local institutions have been steadily buying over the course of the recent correction.
The Indian markets are expected to open lower, triggered by worries that Europe's debt crisis could engulf French banks and spill onto the world financial sector.
Headlines for the day:
Piramal buys 5.5% in Vodafone Essar
Shriram City forays into home financing
Fortis buys hospital chain in Vietnam for Rs289 crore