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Monday, October 10, 2011
Why did Sun TV bounce back ?
Sun TV Network made a smart turnaround on the bourses during the latter part of the day due to low public float. The Sun TV stock closed the day with a gain of over 10 per cent to end at Rs 288.15. During intra-day, the stock had hit a high of Rs 305.25 and a low of Rs 235.05.
Sun TV tanked about 10 per cent on the BSE in early trade on news of raids by the Central Bureau of Investigation across homes and offices of the Maran brothers.
BSE Bulk Deals to Watch - Oct 10 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
10/10/2011 590006 Amrutanjan Health-$ Quadeye Securities Pvt Ltd B 17003 747.04
10/10/2011 590006 Amrutanjan Health-$ CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 19108 752.31
NSE Bulk Deals to Watch - Oct 10 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
10-OCT-2011,AMRUTANJAN,Amrutajan Health Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,19108,752.97,-
10-OCT-2011,EONELECT,Eon Electric Limited,HEG LTD,BUY,182886,65.00,-
10-OCT-2011,GEINDSYS,GEI Ind Systems Ltd,CREDO INDIA THEMATIC FUND LIMITED,BUY,500000,144.95,-
10-OCT-2011,PRAKASHCON,Prakash Constrowell Ltd,CHAMPAKLAL NARSHIBHAI PUJARA,BUY,168592,177.83,-
10-OCT-2011,PRAKASHCON,Prakash Constrowell Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,204410,175.15,-
Nifty October 2011 futures hit 5000
Turnover rises
Nifty October 2011 futures were at 5000, at a premium of 20.40 points over spot closing of 4979.60. Turnover in NSE's futures & options segment rose to Rs 101314.58 crore, from Rs 100109.90 crore on Friday, 7 October 2011.
State Bank of India (SBI) October 2011 futures were at 1763.20, at a premium over spot closing of 1755.
Sensex vaults 4.8% in 2 trading sessions as euro-zone debt worries ease
Key benchmark indices rose for the second straight day to settle at their highest level in 1-1/2-week as euro-zone debt worries eased after assurances from French and German leaders that they will do everything necessary to support Europe's banks. The BSE Sensex jumped 324.69 points or 2%, up close to 325 points from the day's low and off about 40 points from the day's high. The market breadth was strong. All the 13 sectoral indices on BSE were in the green. Telecom stocks rose as telecom minister Kapil Sibal unveiled a draft of the government's new national telecommunications policy today, 10 October 2011.
Daily News Roundup - Oct 10 2011
Maruti Suzuki India dismissed 10 workers, terminated five trainees and suspended 10 employees in connection "with the strike and violence at the Manesar factory premises. (ET)
With an aim to first satisfy the domestic demand for its newly- launched sports utility vehicle XUV500 model, Mahindra and Mahindra proposes postponing its export plans. (ET)
Ahead of a GoM meeting to finalise Air India's financial restructuring plan, the US Exim Bank has decided to give loan guarantees of US$1.3 bn to support the airline's fleet acquisition from aerospace company Boeing. (ET)
PFC is hoping to raise nearly Rs168bn crore in the coming months through issue of securities, including tax-free bonds. (ET)
HPCL is likely to acquire a oil and gas block in Africa through its subsidiary, Prize Petroleum. (BS)
The Videocon group has urged the Mamata Banerjee-led Trinamool Congress government to facilitate the acquisition process for speedy implementation of its Rs200bn steel and power plants in Burdwan district. (BS)
South Africa Coal Mining Holdings (SACMH), the mining company owned by JSW Energy has increased the production of coal by six –fold. (BS)
DLF Ltd has appealed to the Competition Appellate Tribunal (Compat), challenging an order by competition watchdog CCI to pay a Rs6.3bnre penalty for "abuse" of its dominant market position in the country’s real estate business. (BS)
Irked by delays in the divestment of sick state-run company Scooters India, Rajkot-based three- wheeler maker Atul Auto says if no headway is made in the next month, it will start to look at other options, including an entry into the four-wheeler commercial vehicle segment. (BS)
Tilaknagar Industries Ltd announced that it has acquired the Punjab-based bottling unit, Punjab Expo for Rs 55 million. (BS)
Skoda Auto is betting big on India as one of its key growth drivers in the future. (BL)
Bolivia is threatening to end the government's contract with India's Jindal Steel & Power Ltd over its alleged failure to meet investment commitments in a huge iron ore mine. (ET)
Leading iron ore exporter Pisces Exim India has drawn up a Rs 10bn expansion plan that involves buying mines in the country as well as outside. (ET)
Economy Snippets
Spices exports in value terms rose by 26 % to Rs 33.65bn in April-August this fiscal on the back of increased realisation from cardamom (small and large) and ginger. (ET)
Slowdown in demand, short-supply of raw materials, volatile commodity prices, overleveraged balance sheets, and rising interest rates, among others, are increasingly driving Indian companies to seek debt restructuring. (BL)
The infrastructure sectors, including coal, fertiliser, natural gas, highways and railways, could not meet the set performance targets for April-July period this fiscal, says a government report. (FE)
The airports regulator is on a collision course with the Ministry of Civil Aviation (MoCA) over the issue of tariff determination at airports — the charges private operators can levy on airlines and passengers, which in turn will determine profits they can make. (FE)
Finance Minister Pranab Mukherjee expressed concern over costlier vegetables, fruits and milk pushing up food inflation to 9.41 % for the week ended September 24, and said he has been in constant touch with the RBI on how to rein in the rate of price rise. (FE)
Unfazed by Chinese threats, Vietnam President Truong Tan Sang said India and other foreign nations were welcome to explore hydrocarbons in areas within his country's jurisdiction, as he sought to deepen strategic and defence ties with New Delhi. (ET)
The Prime Minister, is scheduled to meet the Union Ministers of Health, Commerce and Finance, to underline the growing concern over "health security" and the "strategic" importance of the pharmaceutical sector in keeping medicines affordable in the country. (BL)
Weak start to October...Sensex loses 1%
It was a weak start to October, as a truncated week ended in the negative terrain. The NSE Nifty and the BSE Sensex closed lower by 1% each, if it was not for Friday’s ~135 points pull back; markets would have been further more in the red. The week was full of negative days as out of four trading sessions, bears were in control for three days. The BSE Banking, Realty and the Metals index were among the major losers. On the other hand, only BSE Capital Goods index gained 0.7%.
IIP data for August will be closely watched next week. The quarterly results season will also kick off in right earnest with Infosys due to report on October 12. Earnings of non-IT companies will also be examined closely, especially in the backdrop of series of weak economic statistics of late. Inflation data will be out on October 14 and will have some bearing on sentiment as well.
Stay calm, rough ride ahead!
Anyone can hold the helm when the sea is calm. – Publilius Syrus.
An indifferent start is in the offing owing to mixed global markets and nervousness ahead of the earnings season. We expect the undercurrent to be cautious given the global headline risks. Any material fall in volatility could auger well for the markets. FII flows will also be important. IIP, Infosys results and Inflation will be the three big events for the week apart from all the daily dose of news flow from the offshore markets.
Market may open flat to slightly higher
Trading of S&P CNX Nifty on the Singapore stock exchange indicates a gain of 18 points at the opening bell. Asian stocks were mixed.
Key benchmark indices surged on Friday, 7 October 2011 snapping a four-day losing streak, as Indian shares played a catch up with a rally in world stocks on Thursday, 6 October 2011, when Indian market was closed on account of Dassera. World stocks had surged on Thursday, 6 October 2011, driven by continued hopes Europe will recapitalize its banks to tame euro-zone debt crisis.
Modest weekly gains for US stocks
Job report checks in better than expected
US stocks ended higher for the week that ended on Friday, 07 October 2011. Though stocks kicked off the week on a slow note, middle of the week saw stocks climb sharply for the broad market's best back-to-back performance in more than a month. A better tan expected job report gave a nice final push to stocks at the end of the week and the same ended with modest gains.
For the week, that ended on Friday, 07 October 2011, Dow ended higher by 189.74 points or 1.7% to 11,103.12. The Nasdaq gained 63.95 points or 2.6% to 2,479.35 and the S&P 500 gained 24.04 points or 2.1% to 1,155.46.
Bullion metals snap two day winning streak
Prices drop amid lack of any major catalyst
Precious metals ended lower on Friday, 07 October 2011 at Comex. Prices snapped a two-day winning streak as investors shied away from the metal amid a lack of catalysts to spur flight-to-safety buying. Commodities and stocks got an early a boost from a better-than-expected report on the U.S. job market, but that lift was short-lived as traders looked closer at the numbers.
Gold for December delivery fell $17.4 or 1.1%, to end at $1,635.8 an ounce on the Comex division of the New York Mercantile Exchange on Friday. Unable to catch a defensive-buying boost after debt downgrades for Italy and Spain, prices had fluctuated between small gains and losses earlier in the session. For the week, gold gained 0.8%.
Crude ends marginally higher
Prices rise following better than expected job data
Crude prices ended marginally higher at Nymex on Friday, 07 October 011. A better than expected job data helped prices end higher even though sovereign downgrades of Italy and Spain by Fitch rating weighed on the same earlier during the day.
Light and sweet crude for November delivery rose $0.39 (0.5%) to $82.98 a barrel on the New York Mercantile Exchange on Friday. Prices closed 4.8% higher for the week. 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.
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