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Wednesday, August 24, 2011

Grey Market Premiums - Aug 24 2011

Company Name

Offer Price




Vaswani Ind.



Tree House of Education & Accessories


-1 to 1.50

Brooks Lab.

90 to 100

5 to 6

SRS Ltd.

58 to 65

4 to 4.50

T. D. Power Systems

256 to 261





Shriram City Union Bond



Manappuram Finance



Muthoot Finance



Crude prices continue to end higher

Prices rise in tandem with US equities as Dow witnesses huge gains

Crude prices ended higher on Tuesday, 23 August 2011 at Nymex. Prices rose in tandem with US equities on Tuesday. Stocks rebounded on Wall Street for second straight day and Dow ended with more than 300 points gain. Prices also rose due to the weak dollar and as tension once again mounted at Libya as Libyan rebels gained control of most of Tripoli and as world leaders called for Gadhafi to give up the fight.

Market recoups almost the entire initial losses

Key benchmark indices cut almost entire initial losses triggered by weakness in Asian equities. The BSE Sensex was down 5.44 points or 0.03%, up 87.53 points from the day's low. The market breadth was strong. Index heavyweight Reliance Industries (RIL) was marginally lower. Pharma majors Cipla and Lupin gained on reports Japan's largest pharmaceutical firm, Takeda, has begun talks with these two companies for purchasing of their pharma businesses.

The market may remain volatile in the near term as traders rollover positions in the derivatives segment from the near-month August 2011 series to September 2011 series. The August 2011 derivatives contracts expire on Thursday, 25 August 2011.

Daily News Roundup - Aug 24 2011

Tata Motors launched a new version of its premium hatchback Tata Vista with a starting price of Rs0.4mn (ex-showroom Delhi). (ET)

State Bank of India which has the lowest tier-1 equity among big banks, faces a 'crisis' next fiscal, if the government doesn't invest in a rights share sale, essential to keep lending. (ET)

Titan Industries said it was planning to enter into silver watches by the next year even as it is transitioning itself into a lifestyle retail company. (ET)

Sensex climbs on global rally...IT stocks waltz

Just when one thought that self-belief and conviction were in short supply, comes another good session for the Indian equity markets. The benchmark stock indices seemed to find some momentum today, as bargain hunting was seen in IT stocks which have been beaten down in the recent collapse. Select Telecom, Capital Goods, Banking and Metal stocks were also in demand.The PSU index was the only one that closed in the red.

Finally, the BSE Sensex ended at 16,498 gaining 157 points. It had earlier touched a day's high of 16,549 and a day's low of 16,213. It opened at 16,447. The NSE Nifty closed at 4,946 adding 47 points.

Markets in a bind…Lokpal logjam continues

The penalty that good men pay for not being interested in politics is to be governed by men worse than themselves. – Plato.

Governance (or rather lack of it) has been an issue with UPA II. The tug-of-war on the Lokpal Bill comes in the wake of a series of scams. But, things appear to be moving as far as talks between the Government and Team Anna is concerned. The PM has requested Anna Hazare to end his public fast. Lot more action is expected on this front today, including an all-party meeting. Negotiations will continue to break the gridlock.

Markets may see a soft start on Japan’s credit downgrade

The Indian stock markets expect a soft opening owing to un supportive Asian cues after Moody’s downgraded Japan’s debt rating.

Headlines for the day:

RBI wants changes in law before new bank licences
India Inc raises Rs60,950 crore overseas for infra boost
Realty firms mull legal action against CCI order

Precious metals turn pale

Prices drop from their recent highs as equities rally

Precious metals ended their long winning streak and ended lower on Tuesday, 23 August 2011 at Comex. Prices dropped as investors returned to equities after quite some time. US stocks witnessed good gains at Wall Street as equity markets around the globe also mostly rose on positive reports on manufacturing activity in China and Europe.

Gold for December delivery dropped $30.6 or 1.6%, to end at $1,861.3 an ounce on the Comex division of the New York Mercantile Exchange on Tuesday. During intra day trading, prices rose to a high of $1,899.4 yesterday. Gold had struck record high for five times last week and closed a little shy of $1,900/ounce yesterday.

SGX Nifty Live Update - Aug 24 2011

4,913.50 -31.50