Ranbaxy Labs
India Equity Analysis, Reports, Recommendations, Stock Tips and more!
Search Now
Recommendations
Monday, August 29, 2011
Nifty September 2011 futures above 4900
Turnover declines
Nifty September 2011 futures were at 4,939.55, at a premium of 19.95 points over spot closing of 4,919.60. Turnover in NSE's futures & options segment declined to Rs 90130.66 crore from Rs 101375.59 crore on Friday, 26 August 2011.
Reliance Industries September 2011 futures were at 757.25, at a premium over spot closing of 754.35.
Markets zoom
Indian equity indices rallied on Monday, with the BSE Sensex jumping by nearly 600 points and the NSE Nifty ending above the 4,900 mark. The Sensex and the Nifty closed near their intraday highs on the back of short covering and some bargain hunting following the recent drubbing.
Finally, the BSE Sensex ended at 16,416, adding 567 points. It had earlier touched a day's high of 16,462 and a day's low of 15,068. It opened at 16,080. The NSE Nifty closed at 4,919, adding ~171 points.
Bounce back Monday; Sensex zooms 568 points
Technology shares were under buyers’ radar, which provided the major support today alongwith rally in the global stocks. The Sensex surged 568 pts and the Nifty rose 172 pts.
Major headlines
RBI issues guidelines for new bank licences
Govt may raise export duty on iron ore
RIL regains top position
RBI proposes new rules for NBFCs
Sensex strikes back with a vengeance as world stocks rise
An optimistic assessment of the US economy from Federal Reserve Chairman Ben Bernanke on Friday, 26 August 2011, boosted stocks across the globe and Indian shares were no exception. The US is the world's biggest economy. The end of a standoff between the government and anti-corruption activist Anna Hazare during the weekend over anti-corruption bill, also aided the rally on the domestic bourses as the barometer index BSE Sensex regained the psychological 16,000 mark. The BSE Sensex jumped 567.50 points or 3.58%, off close to 45 points from the day's high and up close to 350 points from the day's low. The market snapped a three-day losing streak.
The Sensex had tanked 3,022.46 points or 16.01% during a period of a little over one month to 18-1/2-month closing low of 15,848.83 on Friday, 26 August 2011, from a high of 18,871.29 on 25 July 2011.
Grey Market Premiums - Aug 29 2011
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Vaswani Ind. | 49 | Discount |
| Brooks Lab. | 100 | 4 to 5 |
| SRS Ltd. | 58 to 65 | 3 to 3.50 |
| T. D. Power Systems | 256 to 261 | 7 to 7.50 |
| Manappuram Finance | 1000 | 9.50 to 10 |
| Muthoot Finance | 1000 | 15 to 16 |
Daily News Roundup - Aug 29 2011
Wockhardt plans to launch 12-15 products in the US market this financial year and also increase its reach in the European market.(BS)
ONGC is likely to start oil and gas production from Krishna-Godavari basin field GS-15 next month.(BS)
Maruti is gearing up for a major product onslaught with the launch of 15-20 new vehicles in the next five years.(ET)
Weathering the storm!
Human misery must somewhere have a stop; there is no wind that always blows a storm. - Euripides.
The political class has finally managed to temporarily weather the Anna Hazare storm over the Lokpal Bill. There is a sense of relief. Also, the parliament’s resolution on Saturday after a constructive discussion has fueled expectations that a few key reform bills may get cleared soon.
The start today is likely to be a good one, spurred by healthy gains across global markets. US stocks rallied on Friday, despite Fed chairman Ben Bernanke refraining from announcing another stimulus. The FOMC may consider the same at its September meeting, he said.
Markets rise at start; Sensex soars 300 points
The Indian indices bounced back and started the session on a strong note following the healthy gains across global markets. The much awaited speech by Ben Bernanke evoked a positive response from investors on Wall Street and lifted the US markets. Buying activity was seen across the board. IT, TECk and Banking shares were in gaining spree, while FMCG shares traded negative. The adanvance to decline ratio, stood very strong.
Among the 30 Sensex stocks – only ITC was trading down by 0.13%. Infosys surged by 3.34%, followed by TCS that gained by 2.99% and Jaiprakash Associates rose by 2.82%.
At 9.28 am, the Sensex was trading at 16160, 311 points higher and the Nifty was trading at 4835, up by 88 points.
Sensex reclaims 16,000
Firm Asian shares triggered a recovery in battered Indian shares in early trade. The end of the standoff between the government and anti-corruption activist Anna Hazare during the week-end aided initial rally as the barometer index BSE regained the psychological 16,000 mark. The Sensex was up 289.97 points or 1.83%. The market breadth was strong. Most Asian stock markets gained after Federal Reserve Chairman Ben Bernanke on Friday, 26 August 2011, said that the the US economic recovery will accelerate and the central bank has more means to prop up growth if appropriate.
Subscribe to:
Posts (Atom)