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Wednesday, September 21, 2011

Markets end see-saw trade in red

After a spectacular rally in the previous session, the Indian markets were directionless today and closed on a negative note. The Sensex fell 34 points and the Nifty slid 7 points.

Major headlines

Global economy facing slowdown: PM

Idea Cellular, Bharti Airtel gain on strong user addition in August

KS Oils sale may face obstacle; stock falls

Everonn Education rallies 5% on stake sale to Dubai-based Co

BSE Mid-Cap, Small-Cap indices nudge higher

Key benchmark indices edged lower amid intraday volatility on euro-zone debt worries. A rally in a number of side counters was the highlight of the day's trading session. The barometer index BSE Sensex lost 34.13 points or 0.2%, up about 65 points from the day's low and off close to 125 points from the day's high. BSE Small-Cap and Mid-Cap indices both edged higher. Index heavyweight Reliance Industries (RIL) declined. Auto stocks fell on worries higher interest rates and the latest petrol price hike may adversely impact sales of cars and two-wheelers during the festive season.



Bajaj Auto

Bajaj Auto

Latest Grey Market Premiums - Sep 21 2011

Company Name

Offer Price




Vaswani Ind.



SRS Ltd.


2 to 3

P. G. Electroplast

190 to 210

3 to 3.50

Prakash Constrowell

130 to 138

3 to 5

RDB Rasayan

72 to 79


Tijaria Polypiles



Takshell Solutions



Daily News Roundup - Sep 21 2011

The promoters of KS Oils may face obstacles in their plans to sell the company as accounting issues and a possible loss of around Rs4bn deters buyers. (ET)

Everonn Education will sell a 12% stake for Rs1.38bn to GEMS Education via a preferential allotment of shares. (ET)

Subex is selling part of its business to Netcracker to pay back nearly US$54.8mn to foreign currency bond holders in March. (ET)

Sensex scores triple ton…Nifty tops 5100

After two days of declines, bulls were back with a bang as the NSE Nifty surged over 100 points while the BSE Sensex shot up by more than 300 points on Tuesday. Just when one thought that we are in for another down day, markets did exactly the opposite. The key indices flourished despite weak cues from the US and select Asian markets. Sentiment got a boost after European markets rebounded after a soft start.

Slow and steady!

Focus on learning at various venues before you settle down for a steady position. - Rocco DiSpirito.

It is difficult to really settle down as uncertainty prevails over a whole host of issues – domestic and global. The start is likely to be soft to steady as Asian markets appear to be clueless.

Markets expect a negative opening

The Indian markets may open in red as the Asian stocks appear to be unsupportive. Caution prevails ahead of the outcome of the Federal Reserve's two-day policy meeting.

Headlines for the day

L&T set to partner Hindustan Shipyard

BoI seeks Rs4,000 crore from Centre

Maruti Suzuki workers refuse to hold talks with management

Green ministry softens stand on coal mining

Market may open lower

The market may open lower if trading of S&P CNX Nifty futures on the Singapore stock exchange is of any indication. It indicates a fall of 31 points at the opening bell. Asian stocks were mostly higher.

Key benchmark indices spurted to 1-1/2 week closing highs on Tuesday, 20 September 2011 as European stocks rose and as US index futures jumped, buoyed by expectations that Greece will receive the next aid tranche from international creditors as well as hopes that the Federal Reserve may announce fresh measures to stimulate the economy. The BSE Sensex jumped 353.93 points or 2.11% to settle at 17,099.28, its highest closing level since 8 September 2011.

SGX Nifty Live Update - Sep 21 2011

5,149.00 -18.00