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Thursday, September 08, 2011

Grey Market Premiums - Sep 8 2011

Company Name

Offer Price




Vaswani Ind.



SRS Ltd.


2 to 2.50

T. D. Power Systems


4 to 5

P. G. Electroplast

190 to 210


Manappuram Finance


7 to 8

Muthoot Finance


10 to 11

Bullions stay pale

Gold and silver drop as US and global equities rally

Precious metals ended lower once again on Wednesday, 07 September 2011 at Comex. Prices lost their luster after US markets and other global equities rallied for the day. Stocks gained on Wednesday, 07 September 2011 for the first session in four on a report that President Barack Obama will propose a $300 billion package to boost jobs and after Germany's top court ruled it was legal for the country to take part in regional rescue plans.

Market may open flat to slightly higher; food inflation data eyed

The market could open flat to slightly higher tracking mostly higher Asian stocks. Trading of S&P CNX Nifty on the Singapore stock exchange indicates Nifty could see a flat opening. The Indian government will 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 27 August 2011 today, 8 September 2011.

Jaiprakash Associates denied report it was in talks to sell up to 26% stake in its cement business to Mexico's Cemex and South America's Votorantim Group. The company made this announcement after market hours on Wednesday. The stocks had surged near 8% on Wednesday following buzz of strategic stake sale in its cement business.

Daily News Roundup - Sep 7 2011

Coal India is running 191 mines without any environmental clearance, the Comptroller & Auditor General said in a report on the company, which says delays in green clearances has severely hit its output. (ET)

Hero MotoCorp will start dropping the Honda brand from its existing products this fiscal. (BS)

Sensex reclaims 17k…Nifty tops 5100

Indian markets had a rocking session on Wednesday, with the main indices notching strong gains on the back of a global surge in equities and persistent inflows from the overseas investors. The Nifty recaptured the 5100 mark while the BSE Sensex re-conquered the 17,000 level. The rally was not restricted to the Large-Caps only, with the non-index counters also joining the party.

Markets extended the upswing led by sustained strength in Realty, Power, Capital Goods and the Banking space. The BSE Mid-Cap index gained 1.2%, while BSE Small-Cap index added 1.5%.

Blast, quake and life goes on

"To overcome a fear, here's all you have to do: realize the fear is there, and do the action you fear anyway." - Peter McWilliams.

A suspected terrorist strike in the heart of the capital did not dampen the spirits on the local bourses. The markets are unlikely to be shaken by a late night earthquake in New Delhi. The opening is expected to be good, but not spectacular. A few Asian markets are unable to hold on to early gains despite a stellar rally in the US and Europe.

SGX Nifty Live Update - Sep 8 2011

5,122.50 +2.50