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Friday, October 07, 2011
Daily News Roundup - Oct 7 2011
Videocon Industries have made a natural gas discovery in Mozambique. The discovery may hold at least 10 trillion cubic feet of reserves. (BS)
Godrej Properties, the real estate development arm of the Godrej Group, has entered into a joint development agreement with Godrej & Boyce for the latter’s land parcels at Vikhroli suburb of Mumbai. (ET)
After threatening to cut supplies, Reliance Industries withdrew the notice for suspension of natural gas supplies to four fertiliser plants in Uttar Pradesh, saying it will work with urea manufacturers to resolve outstanding issues. (BS)
Nifty falls for 4th straight day
Indian markets extended its declining streak to fourth straight trading session as banking stocks were once again mercilessly hammered on Wednesday. Moody’s Investor Service had yesterday downgraded SBI, shares of the public sector banking major slumped another 4%. The Banking index on the BSE and NSE were each down more than 2.5%.
Markets had opened with a positive bias tracking a sharp rally in the last hour of the US trading session, the benchmark indices did manage to remain in the green for first half of the day however eventually gave away all its gains led by selling seen in the Banking, Metals, Oil & Gas and Consumer Durables stocks. Even the Mid-Cap and the Small-Cap index lost 1% each.
Recovery on the Street!
Business and life are like a bank account – you can’t take out more than you put in. – William Feather.
Its déjà vu time for central banks in the developed world, as they ramp up efforts to calm nervous financial markets amid mounting fears of double-dip recession. The Bank of England surprised markets with a fresh round of monetary stimulus despite inflation running high. ECB’s outgoing president Jean Claude Trichet unleashed a couple of liquidity boosting programs to relieve tension in the European credit markets. Eurozone authorities have shown readiness to recapitalise banks as the region's sovereign debt crisis threatens to spiral out of control.
Bullion metals add luster
Prices rise as investors return to bullions due to ongoing comparative lower prices
Precious metals ended higher on Wednesday, 05 October 2011 at Comex. Prices gained as recent low prices lured investors back to precious metals. A day earlier, both gold and silver sold off throughout the session to finish near session lows.
Gold for December delivery rose $25.6 or 1.6%, to end at $1,641.6 an ounce on the Comex division of the New York Mercantile Exchange on Wednesday. For the month of September, gold shed 11%. It registered a rise of 8% for the third quarter ending September.
Crude shoots up
Prices rise as crude stockpiles show unexpected decline
Crude prices jumped substantially at Nymex on Wednesday, 05 October 011. A better than expected private sector job report coupled with latest weekly inventory of crude and crude stockpiles showing surprise decline for last week pushed up prices.
Light and sweet crude for November delivery rose $4.01 (5.3%) to $79.68 a barrel on the New York Mercantile Exchange on Wednesday. For the month of September, oil futures lost 11%, and for the quarter, crude incurred losses of 17%. It was the worst quarterly performance for crude in almost two years.
Market may open higher on firm Asian stocks
The market may open higher tracking firm Asian stocks. Trading of S&P CNX Nifty on the Singapore stock exchange indicates a gain of 48 points at the opening bell.
Key benchmark index fell for the fourth straight day amidst high volatility on Wednesday, 5 October 2011 as data showing a decline in service sector activity in September 2011, data showing resumption of selling by foreign funds at the beginning of this month, and likely muted-to-weak Q2 earnings weighed on sentiment. The BSE Sensex lost 72.45 points or 0.46% to settle at 15,792.41, its lowest closing level since 5 February 2010.
Markets may rise at start
The steps have been taken by the European Central Bank to ease some of the pressure on European banks. Tracking gains across the globe, the Indian markets are set to begin on a positive note.
Headlines for the day:
Bosch workers to decide on intensifying strike
NMDC lines up Rs 2,450-crore capex
SAIL seeks gas for Jagdishpur power plant.
Muthoot Fincorp to set up 50 branches in Rajasthan
Thursday, October 06, 2011
BSE Bulk Deals to Watch - Oct 4 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
5/10/2011 511664 BGIL Films INDER PAL B 32399 6.17
5/10/2011 506027 Bhoruka Alum CHETAN LAXMIKANT DAVE B 146547 9.79
5/10/2011 506027 Bhoruka Alum CHETAN LAXMIKANT DAVE S 146547 9.68
5/10/2011 522292 CHANDNI TE AARAV FINANCIAL SERVICES PRIVATE LIMITED B 2400000 1.10
NSE Bulk Deals to Watch - Oct 5 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
05-OCT-2011,ARSSINFRA,ARSS Infra Proj. Ltd,GARNET INTERNATIONAL LTD,BUY,88759,349.52,-
05-OCT-2011,CANTABIL,Cantabil Retail Ltd,SATISH SH D D SINGHAL SINGHAL,BUY,350000,25.15,-
05-OCT-2011,GAL,Gyscoal Alloys Ltd,JITENDRA RATILAL PRAJAPATI,BUY,93242,17.72,-
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You have till October 10 2011 to claim your gifts, voucher validity is till Oct 15 2011
Markets close volatile trade in red
The Indian markets ended a volatile session lower for the fourth straight day. The Sensex fell 72 points and the Nifty slid by 21 points
Major headlines
September Services PMI shrinks, signals broader economic slowdown
SBI overseas borrowing costs to surge 1-2 bps after downgrade
Rolta India hits 52-week low
Suzlon receives 25.5 MW order from GAIL
Godrej Properties enters into agreement with Godrej & Boyce
Wednesday, October 05, 2011
Sensex settles at 20-month low as FIIs resume selling
Key benchmark index fell for the fourth straight day amidst high volatility as data showing a decline in service sector activity in September 2011, data showing resumption of selling by foreign funds at the beginning of this month, and likely muted-to-weak Q2 earnings weighed on sentiment. The market breadth was weak. The barometer index BSE Sensex hit 20-month closing low. The S&P CNX Nifty hit 5-1/2-week closing low. The Sensex lost 72.45 points or 0.46%, off close to 250 points from the day's high and up about 30 points from the day's low.
Tuesday, October 04, 2011
Europe woes, SBI downgrade drag Sensex 287 points lower
A steep fall in major banks post Moody's SBI downgrade and weak global trend weighed on the sentiments today. The Sensex tumbled 287 points and the Nifty slid 77 points.
Major headlines
SBI hits 52-week low after Moody’s downgrade
Prakash Constrowell makes smart gains on listing day
Maruti survives in the weak market
Cairn India slips as crude oil prices fall
Avantel advances on buyback plan
SBI October 2011 futures at discount
Turnover surges
Nifty October 2011 futures were at 4779, at a premium of 6.85 points over spot closing of 4772.15. Turnover in NSE's futures & options segment surged to Rs 111863.83 crore from Rs 81146.33 crore on Monday, 3 October 2011.
State Bank of India (SBI) October 2011 futures were at 1780.40, at a discount compared to spot closing of 1794.05.
Investors withdraw from bank stocks as Moody's downgrades SBI
Key benchmark indices fell for the third straight day as weak global shares, data showing stepping up of selling by foreign funds on Monday, 3 October 2011, and likely muted-to-weak Q2 earnings hit sentiment adversely. The market breadth was weak. The barometer index Sensex hit 20-month low below the psychological 16,000 level. The 50-unit S&P CNX Nifty hit 5-1/2-week low. Except the BSE Capital Goods index, all the other 12 sectoral indices on BSE dropped. The Sensex slumped 286.59 points or 1.77%, up close to 120 points from the day's low and off close to 335 points from the day's high.
Monday, October 03, 2011
BSE Bulk Deals to Watch - Oct 3 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
3/10/2011 531686 Advik Lab VINEET SINHA S 67969 4.35
3/10/2011 531560 Aroma Enterprises AASHISH DEVELOPER B 30000 70.00
3/10/2011 524606 Beryl Drugs UTTAMCHAND VARDICHAND JAIN B 40000 17.23
3/10/2011 524606 Beryl Drugs GLOBALWORTH SECURITIES LIMITED S 98389 17.33
NSE Bulk Deals to Watch - Oct 3 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
03-OCT-2011,ARSSINFRA,ARSS Infra Proj. Ltd,JAYANTILAL B JAIN,BUY,75000,335.46,-
03-OCT-2011,KOUTONS,Koutons Retail India Limi,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,156628,25.88,-
03-OCT-2011,PGEL,PG Electroplast Ltd,CHAMPAKLAL NARSHIBHAI PUJARA,BUY,35000,258.63,-
03-OCT-2011,RUSHIL,Rushil Decor Limited,SHASWAT STOCK BROKERS LIMITED,BUY,101383,185.91,-
03-OCT-2011,ARSSINFRA,ARSS Infra Proj. Ltd,DECENT FINANCIAL SERVICES PVT LTD,SELL,123514,336.06,-
03-OCT-2011,KOUTONS,Koutons Retail India Limi,CROSSEAS CAPITAL SERVICES PVT. LTD.,SELL,149675,26.20,-
03-OCT-2011,PGEL,PG Electroplast Ltd,CHAMPAKLAL NARSHIBHAI PUJARA,SELL,139000,265.47,-
03-OCT-2011,RUSHIL,Rushil Decor Limited,SHASWAT STOCK BROKERS LIMITED,SELL,101383,185.51,-
Markets suffer fresh panic over Greece fears; Sensex falls 302 pts
The sentiments turned bearish on renewed fears of Greece default. The Sensex fell by 302 points and the Nifty slipped by 94 points
Major headlines
Exports surge 44% in August
Sintex hits 52-week low on FCCB conversion concerns
Bajaj Auto reports highest ever volumes in September
India's factory PMI growth falls to 30-month low
CBI gives clean chit to Anil Ambani; ADAG stocks gain
Metal, banking stocks lead decline
Key benchmark indices made a weak start to the new week, month and quarter as world stocks fell on Greece default fears. Data showing slowdown in manufacturing sector in September 2011, data showing continuation of selling by foreign funds last month and likely muted-to-weak Q2 earnings weighed on sentiment. The barometer index BSE Sensex and the 50-unit S&P CNX Nifty hit one-week lows. The market fell for the second straight day today, 3 October 2011. The Sensex tumbled 302.21 points or 1.84%, up close to 95 points from the day's low and off close to 105 points from the day's high. The market breadth was weak. All the 13 sectoral indices on BSE were in the red. Index heavyweight Reliance Industries (RIL) edged lower.
Grey Market Premium - Oct 3 2011
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Vaswani Ind. | 39.20 (XB Rate) | 1 to 1.25 |
| Prakash Constrowell | 138 | 3.50 to 4 |
| RDB Rasayans | 79 | 2 to 2.50 |
| Swajas Air. | 84 to 90 | -- |
| Tijaria Polypiles | 60 | 0.75 to 1 |
| M & B Switch | 180 to 186 | 4 to 4.50 |
| One Life Capital | 100 to 110 | -- |
| Takshell Solutions | 130 to 150 | 1.50 to 1.75 |
| Flexituff | 145 to 155 | -- |
| Indo Thai Securities | 70 to 84 | 1.25 to 1.50 |
Daily News Roundup - Oct 3 2011
Reliance Power will replace three-fourth of the debt raised for the Rs194bn Sasan ultra mega power project with cheaper Chinese and American loans as it has secured an RBI approval to raise US$2.2bn external borrowing. (ET)
Power Grid Corporation of India Ltd has commissioned the transmission system for evacuation of power from UMPP at Mundra in Gujarat. (BL)
Weak start to October!
Whether you think you can or think you can't - you are right. ~Henry Ford.
World markets had their worst quarter since the height of the 2008 financial meltdown, as a chronic credit crisis in the eurozone rattled investors. Anemic growth in the US economy is another factor that dented investor confidence. What’s worse, there are still no signs of hope as national leaders and policymakers continue to grapple with evolving macro-economic problems.
Market may slide on weak Asian stocks
The market may open on a weak note, tracking losses in Asian stocks. Trading of S&P CNX Nifty on the Singapore stock exchange indicates a fall of 85 points at the opening bell. Foreign institutional investors (FIIs) sold shares worth Rs 459.47 crore on Friday, 30 September 2011, as per provisional data from the stock exchanges. FIIs sold shares worth Rs 3088.88 crore in September 2011, as per data from stock exchanges. Domestic institutions absorbed part of the selling by FIIs, with an inflow of Rs 1747.07 crore during the month just gone by.
Copper stays extremely weak post global data
Prices incur huge monthly and weekly losses
Copper prices at Comex ended substantially lower on Friday, 30 September 2011. A strong dollar and mixed economic data globally and on the home front pushed prices lower lower. Copper has been having a weak run this year and with Friday's losses, prices ended at July 2010 low levels. Copper also had its worst monthly performances since the October 2008.
Strong monthly losses for bullions
On a quarterly basis, gold rises but silver slumps
Precious metals ended mixed once again on Friday, 30 September 2011 at Comex. Yellow metal prices ended higher while silver turned pale. Comparatively lower price of gold in recent times once again attracted buyers. The relatively strong dollar also played its role.
Gold for December delivery rose $5 or 0.3%, to end at $1,622.3 an ounce on the Comex division of the New York Mercantile Exchange on Friday. Prices dropped to a low of $1,607.8 and rose to a high of $1,642.5 during intra day trading. For the month of September, gold shed 11%. It registered a rise of 8% for the third quarter ending September.
Crude witnesses big drop
Crude's worst quarterly performance in two years
Mixed economic data at home and globally coupled with strong dollar strongly pressured crude prices and the same ended substantially lower on Friday, 30 September, 2011 at Nymex. Prices slipped in tandem with US equities at Wall Street.
Sunday, October 02, 2011
Saturday, October 01, 2011
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Time for sexiest anchors ?
To pull out all you people and the markets from depression - We ask you - who is the sexiest business/news channel anchor ?
Please provide the name, where they appear, why they are sexy and preferably link to the picture :-) - Rating is allowed for both women and men!
Go ahead folks, leave a comment !
Markets end rollercoaster week with 2% rise
After a massive fall in the previous week, the Indian markets closed this week on a higher note. The Sensex rose 1.8% and the Nifty gained 1.55%
Major news for the week
Food inflation at 9.13% versus 8.84%
Cabinet approves new Mining Bill
CBI probes Anil Ambani in 2G scam
German parliament passes expanded euro fund
ONGC approves Cairn-Vedanta deal
Finance Ministry considers trimming STT
Govt may put divestment plans on hold
Indian court rules against Tata in Singur land case
Indian economy will continue to grow: Pratibha Patil
ADAG stocks slip on fresh concern about 2G scam fallout
Shares of ADAG companies have taken a severe beating amid media reports that the CBI has offered the three executives of the Anil Ambani group companies to turn approvers in the ongoing 2G trial. Reports also said that the CBI continues to probe Anil Ambani's alleged role in the controversial Swan Telecom deal.
Reliance Capital was down nearly 12% at Rs. 315, while Reliance Infrastructure was down 7% at Rs. 373. RCOM was down 7.6% at Rs. 71 while Reliance Power was down ~4% at Rs. 76.80. Reliance Broadcast Network was down ~13% at Rs. 69while Reliance MediaWorks was down ~6% at Rs. 90.95.
Weekly Newsletter - Oct 1 2011
Indian stock indices gained modestly in a fairly choppy week. The 2G scam hit the headlines again. There was some relief in the form of Germany’s lawmakers voting in favour of boosting the eurozone rescue fund. However, markets are still skeptical about Europe’s various plans to prevent Greece from defaulting and contain the credit crisis. The US economy is not exactly pulling away either. Data also showed stagnation in China’s manufacturing output.
UPA under stress again over controversial 2G note
The 2G scam resurfaced to haunt the Government, this time through a Finance Ministry note that seemed to indicate that P. Chidambaram, who was the Finance Minister during 2008 could have prevented the shenanigans of disgraced Ex-Telecom Minister A. Raja. The top brass of the Government went into a tizzy and took a lot of pain to dismiss the relevance and importance of the note. The controversial note came to light while the Prime Minister and the Finance Minister were away in the US for the annual meetings of the World Bank and IMF.
Chanda Kochhar - nominated for sexiest CEO
Business Insider has nominated Chanda Kochhar to be one of the sexiest CEOs alive.
Go and vote for her if you like her ;-)
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