DB Corp - 250 Price Target , HT Media- 145 Price Target
Thursday, December 29, 2011
Year 2011 was not so good for the Indian Markets with lot of negative news creating pressure and dragging stocks lower. Investors completely lost interest and as a result of the same, major stocks witnessed selling pressure.
Here take a look at major stocks that remained in the limelight throughout the year due to news-specific actions.
Prices drop for fifth straight day
Precious metals ended lower for fifth straight session on Wednesday, 28 December 2011 at Comex. Prices dropped amid a strong dollar and thin level of trading. Prices also responded to bearish news from Europe, China and India, which produced fears of weakening demand for the precious metal
Gold for February delivery ended lower by $31.4 or 2%, to end at $1,564.1 an ounce on the Comex division of the New York Mercantile Exchange on Wednesday. Prices have shed 3.3% in past five sessions. Last week, the yellow metal rose 0.5%.
RIL is in advanced talks with American defence giant Raytheon to create a joint venture that will pursue opportunities in homeland security in India and abroad (ET)
The coal ministry has turned down Coal India’s request to cut its production target for the year (ET)
Government to ask Sterlite for formal plan for buying 49% residual stake in Balco (BL)
M&M South Korean subsidiary Ssangyong is likely to fall short of its sales target for 2011 as debt woes continue to plague one of its largest markets Europe (ET)
The topsy-turvy ride of the Indian market continued even as MPs traded barbs in Parliament on the New Lokpal Bill and Anna Hazare kicked off his three-day stir. Traded volumes remained light, notwithstanding the fact that the F&O expiry is just two days away. Essentially, the main indices never got going like they did on Monday amid lack of broad-based participation. The BSE Sensex and the NSE Nifty lacked sense of direction. The broader market too was more or less subdued.
The undercurrent was cautious as a strong report on the infrastructure output was countered by concerns about the Government’s fiscal profligacy and tight liquidity. The fact that most global markets are in festival mood hasn’t helped matters either. Most market participants are on ‘wait-and-watch’ mode right now amid lingering worries about the worsening domestic economic situation and problems plaguing the world economy.
Everything is connected... no one thing can change by itself. - Paul Hawken.
Domestic politics and world markets seem to be connected in playing spoilsport. There is nothing much to change the mood for the last two trading sessions of 2011. F&O expiry will only add to the volatility. The weekly food inflation numbers will be tracked closely after having come off sharply in the past few weeks. Contrary to the usual norm at the end of a year, FIIs have been modest buyers of Indian equities lately. However, the overseas capital flows are not strong enough to make any impression on the market's direction. Volumes may pick up due to the derivative settlement.
The market may extend two-day losses on weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 23 points at the opening bell. Stocks may remain volatile today, 29 December 2011, as traders rolled over positions in futures & options (F&O) segment from the near-month December 2011 series to January 2012 series. The near-month December 2011 F&O contracts expire today, 29 December 2011.
On macro front, the government will today, 29 December 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 17 December 2011.
Renewed concerns about the euro zone's financial health may weigh on the Indian markets in the opening trade.
Headlines for the day:
GMR completes 30% stake sale in Singapore arm to Petronas
Mahindra raises XUV500 prices by up to Rs55K
RIL slips below Infy in market-weight game, again
DLF, partner sell Pune IT SEZ to Blackstone for Rs810 cr
TVS to launch automatic transmission 2-wheelers in 2013
ICICI, IDBI Bank up NRE deposit rates