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Thursday, October 13, 2011
Gold demand may explode
Demand for gold exchange traded funds (ETF) in India is likely to "explode" as investors get accustomed to "click-and-park" mode of investing, shying away from sagging stock markets and as high inflation eats into bank savings, a trade body head said on Thursday.
"Clearly people are seeing convenience in the form of ETF, going through the same broker which he has for equities," said Ajay Mitra, managing director - India and the Middle East, World Gold Council (WGC).
Nifty October 2011 futures at discount
Turnover declines
Nifty October 2011 futures were at 5068.90, at a discount of 8.95 points compared to spot closing of 5077.85. Turnover in NSE's futures & options segment declined to Rs 122068.76 crore from Rs 139168.12 crore on Wednesday, 12 October 2011.
State Bank of India (SBI) October 2011 futures were at 1869, at a discount compared to spot closing of 1875.35.
BSE Bulk Deals to Watch - Oct 13 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
13/10/2011 590006 Amrutanjan Health-$ A K G SECURITIES AND CONSULTANCY LTD B 18471 792.29
13/10/2011 590006 Amrutanjan Health-$ A K G SECURITIES AND CONSULTANCY LTD S 17121 791.53
13/10/2011 531560 Aroma Enterprises SURMAN SECURITIES PRIVATE LIMITED B 48000 75.00
NSE Bulk Deals to Watch - Oct 13 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
13-OCT-2011,BLUESTARCO,Blue Star Ltd.,SBI MF A/C. MAGNUM SECTOR FUND UMBRELLA-CONTRA.,BUY,1058781,200.00,-
13-OCT-2011,DCB,Development Credit Bank L,PRAKASH K SHAH SHARES & SECURITIES PVT. LTD,BUY,859246,43.77,-
13-OCT-2011,INDOWIND,Indowind Energy Limited,ALFA FISCAL SERVICES PVT LTD,BUY,214115,11.71,-
13-OCT-2011,INDOWIND,Indowind Energy Limited,SHREE BHUVANAKARAM TRADINVEST PRIVATE LIMITED,BUY,165596,11.51,-
Sensex, Nifty retract from 3-week highs
Key benchmark indices edged lower amid intraday volatility as weak European shares triggered profit taking on the domestic bourses after recent strong gains in share prices. The barometer index BSE Sensex fell below the psychological 17,000 mark, having alternately moved above and below that mark in intraday trade. The Sensex shed 74.47 points or 0.44%, off about 200 points from the day's high and up close to 30 points from the day's low. The market breadth turned negative from positive in late trade.
Latest Grey Market Premiums - Oct 13 2011
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Vaswani Ind. | 39.20 (XB Rate) | 1 to 1.25 |
| Swajas Air. | 90 | -- |
| Tijaria Polypiles | 60 | 2 to 2.50 |
| M & B Switch | 186 | 6.50 to 7 |
| One Life Capital | 110 | 3.50 to 3.75 |
| Takshell Solutions | 150 | 4 to 4.25 |
| Flexi tuff | 145 to 155 | 2.50 to 3 |
| Indo Thai Securities | 74 | 2.50 to 2.75 |
Markets head towards a higher opening
Hopes that Europe will come up with actual measures to support Greece and shore up European banks have strengthened investor confidence. The markets are expected to extend gains at start.
Headlines for the day:
Kingfisher may use money with lessors to repay debt
Moser Baer to inaugurate 30 Mw solar parks in Gujarat
Bharti Walmart ties up with farmers in Maha
Festival season hiring on rise amid hopes of increase in sales
Red metal gathers strength
Weak dollar boosts prices
Copper prices at Comex ended substantially higher on Wednesday, 12 October 2011. Red metal prices rose sharply higher following a weak dollar and also as copper traders reported continued buying in copper from China and other Asian markets.
Copper for December delivery ended higher by 10 cents (3.1%) at $3.4 a pound at Comex on Wednesday. In the third quarter, copper tumbled 26%, the most since 2008. The metal touched a 14-month low of $2.994 on 3 October, 2011.
Market may extend recent gains; food inflation data eyed
The market may extend Wednesday's 2.55% gains on firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 12.50 points at the opening bell. The government will today, 13 October 2011, 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 1 October 2011.
Good Q2 results from IT bellwether Infosys, which also revised upwards its full year earnings guidance, firm global stocks and data showing buying by the foreign funds recently, helped key benchmark indices scale 3-week closing highs on Wednesday, 12 October 2011. The BSE Sensex was up 421.92 points or 2.55% to settle at 16,958.39, its highest closing level since 21 September 2011.
Daily News Roundup - Oct 13 2011
L&T General Insurance will see a capital infusion around Rs5bn from its parent over next three to four years.(ET)
Maruti Suzuki will halt production of some of its popular models, including the best-selling Swift hatchback, with the ongoing strike at one of its plants disrupting supply of critical components.(ET)
ONGC Videsh has acquired 25% stake in the highly prospective Satpayev exploration block in Kazakhstan, which can produce close to 300,000 barrels per day. (ET)
Sensex soars despite sour IIP...Infy lifts IT pack
A highly eventful day ended with splendid gains amid all round buying in scrips across the board. The rally was led by IT stocks after Infosys announced strong Q2 earnings on the back of comprehensive margin improvement and also came out with better than expected guidance. The rupee guidance of the company was 6-7% higher than street estimates.
Finally, the BSE Sensex ended at 16,958, up 422 points. It had earlier touched a day's high of 16,987 and a day's low of 16,608. It opened at 16,660. The NSE Nifty closed at 5,099, up 125 points.
Happiness is the result!
The moments of happiness we enjoy take us by surprise. It is not that we seize them, but that they seize us. - Ashley Montagu.
After a long time, investors had something to cheer about Infosys results. The IT titan came out with strong Q2 earnings and improved guidance. The stock surged. Other IT shares also joined the party. Reports talk of a ‘cartel’ active on the counter and that the ‘cartel’ may look at pushing other heavyweights too depending on the results.
Intraday Calls - Oct 13 2011
Today’s Intraday calls:
Neeraj Bajpai says, BUY Gail (India) @ Rs419.7 with a target of Rs.432 and stop loss of Rs.416, on CNBC Awaaz.
Rohit says, SELL MTNL @ Rs30.55 with a target of Rs.29.90 and stop loss of Rs.30.9, on CNBC Awaaz.
Neeraj Bajpai says, BUY Jet Airways (India) @ Rs239.8 with a target of Rs.250 and stop loss of Rs.237, on CNBC Awaaz.
Rohit says, SELL Sun TV Network @ Rs275.75 with a target of Rs.271 and stop loss of Rs.278.5, on CNBC Awaaz.
Neeraj Bajpai says, BUY VIP Industries @ Rs967.65 with a target of Rs.1000 and stop loss of Rs.950, on CNBC Awaaz.
Precious metals zoom up
Prices shine following some hopes for a resolution of European debt crisis
Precious metals ended substantially higher on Wednesday, 12 October 2011 at Comex. A depressed dollar pushed up prices of bullions, which also shone following some hopes for a resolution of European debt crisis.
Gold for December delivery rose $21.6 or 1.3%, to end at $1,682.6 an ounce on the Comex division of the New York Mercantile Exchange on Wednesday. Prices rose to a high of $1,693.9 and fell to a low of $1,662 during intra day trading. For the month of September, gold shed 11%. It registered a rise of 8% for the third quarter ending September.
Volatile crude ends marginally lower
Crude ends lower for first time in six days
Crude prices ended its five day winning streak and ended marginally lower on Wednesday, 12 October at Nymex. Prices fluctuated between small gains and small losses throughout the day and dropped at the end despite a weak dollar. Prices closed lower as latest minutes from Federal Reserve failed to provide any new clue regarding economic recovery.
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