Tuesday, January 31, 2012
Don’t give up
It's hard to beat somebody when they don't give up - Babe Ruth.
After Monday’s fizzle, the indices may look at recouping some of their losses. The big question likely to be going through the minds of most market players after Monday’s sharp selloff is: "Was January a flash in the pan?". The answer is a tricky one given the fact that a lot of the headwinds are yet to be conquered. Today’s opening will be a touch better though as Asian markets are showing some resilience. US stocks managed to recover from intraday lows while the European markets closed in the red. Tuesdays have been good in January. So, whether that trend holds up today as well. Results will continue to be examined following nasty surprises like BHEL.
Meanwhile, core sector growth fell in December after a strong November. Watch out for the IIP numbers for the same month. FII flows have been robust but may taper off. Outcome of the state elections and the run up to the Union Budget are going to be crucial.
Bullions end mildly lower
Higher dollar index takes some shine away
Precious metal prices ended little lower on Monday, 30 January 2012 at Comex. Comex February gold futures prices ended the U.S. day session slightly lower on a mild corrective and profit-taking pressure after prices last Friday hit a seven-week high. The higher U.S. dollar index and weaker crude oil prices also affected prices. Support for the metals came amid tensions in the euro zone.
Gold for April delivery ended lower by $1 or 0.1%, to end at $1,734.4 an ounce on the Comex division of the New York Mercantile Exchange on Monday. It fell to a low of $1,718.8 and rose to a high of $1,742.8 during intra day trading. Last week, gold gained 4.2%. For the year 2011, gold rose 10%.
Monday, January 30, 2012
BSE Bulk Deals to Watch - Jan 30 2012
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
30/1/2012 531560 Aroma Enterprises AASHISH DEVELOPER B 320000 13.95
30/1/2012 531560 Aroma Enterprises KANCHANBHAI BALDEVBHAI PATEL S 145000 13.95
30/1/2012 531560 Aroma Enterprises KANDARP KANCHANBHAI PATEL S 83000 13.95
30/1/2012 531560 Aroma Enterprises NISHITH BABULAL SHAH S 83800 13.95
30/1/2012 590114 Arunjyoti Enterprises ANUPAM NARAIN GUPTA B 30000 27.08
30/1/2012 590114 Arunjyoti Enterprises PURAN CHAND CHOUDHARY B 30000 26.98
NSE Bulk Deals to Watch - Jan 30 2012
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
30-JAN-2012,BARTRONICS,Bartronics India Limited,VAIBHAV DOSHI STOCKS AND COMMODITES PRIVATE LIMITED,BUY,185664,39.99,-
30-JAN-2012,CREWBOS,Crew B.O.S. Products Limi,AJAY ASSET MANAGEMENT PRIVATE LIMITED,BUY,83623,34.39,-
Sensex ends 371 points lower on profit booking
It was a weak session for the Indian markets, with the Sensex closing 371 points lower and the Nifty down 117 points.
Headlines for the day
BHEL tanks on fall in orderflow
New order boosts RPP Infra Projects
Indiabulls Financial Services Q3 consolidated net profit up 22%
OBC Q3 net profit down by 13%
Profit taking dent Asia Pacific markets
Risk appetite retreats ahead of EU Summit in Brussels
Asia Pacific stock markets ended first day of new trading week in deep red, with the MSCI Asia Pacific Index retreated 0.9%, as investors succumbed to profit taking amidst uninspired gross domestic product figures from the United States and lingering debt concerns from Europe. Meanwhile steep fall in Chinese market after returning from weeklong Lunar New Year holidays and lower opening of European bourses intensified profit booking across the regional bourses.
Investors dumped riskier positions across the regional markets on growing uncertainty about the European debt after Fitch Ratings downgraded the sovereign credit ratings for Belgium, Cyprus, Italy, Slovenia and Spain and potential disorderly Greece default as Greek government and its private creditors failed to come up with an agreement on debt swap talks before the start of a European summit which is going to begin later today.
Market slides to one-week low on weak global cues
Weakness in global equity markets pulled Indian stocks lower today, 30 January 2012. The barometer index, BSE Sensex, snapped a 6-day rally to end below the psychological 17,000 mark. The Sensex lost 370.68 points or 2.15%, off about 275 points from the day's high and up close to 35 points from the day's low. The Sensex and the 50-unit S&P CNX Nifty reached one-week closing lows. The market breadth was weak. All the 13 sectoral indices on BSE declined.
The market had surged recently. The Sensex had jumped 782.51 points or 4.75% in six trading sessions to settle at 17,233.98 on Friday, 27 January 2012, from a recent low of 16,451.47 on 18 January 2012. The Sensex has jumped 1408.38 points or 9.11% so far in this month. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 2947.84 points or 14.88%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1727.44 points or 11.41%.
Daily News Roundup - Jan 30 2012
Dr Reddy's Laboratories Ltd said the issue pertaining to its promotional material for fondaparinux sodium for injection, with the US Food and Drug Administration has been closed. (BL)
Domestic coal shortage has prompted NTPC to buy coal through e-auction, at rates lower than the market prices. (BS)
DLF has decided to outsource a large portion of its construction work to companies like L&T and Shapoorji Pallonji instead of doing on its own. (ET)
Mahindra & Mahindra is looking to increase production of its sports utility vehicle XUV500 to about 3,000 units per month in the next two-three months because of strong demand. (BS)
Down to start with
"It is easier to pull down than to build up" - Latin Proverb.
Equities have done exceedingly well this month amid growing optimism about the health of the US economy. Fears of a hard landing in China have also been addressed to an extent. Falling borrowing costs for the debt-stricken euro nations have also helped.
But, the euro region is still not out of the woods yet. Greece is still struggling to secure more aid from international creditors to avert a default. Fitch Ratings has lowered the grades of Italy, Spain and three others. All eyes will be on today's EU leaders’ summit.
Markets may fall at start
It is likely to be a lower opening on the back of negative global cues. Earnings will continue to pour in and may drive the sentiments.
Headlines for the day:
NMDC may acquire property in Australia.
Neyveli Lignite plans Rs5,000 crore power plant.
Honda expects normal output by March as parts supplies resume.
Four companies drop IPO plans despite strong markets
Market may open lower on weak Asian stocks
The market may open lower on weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 42 points at the opening bell. LIC Housing Finance and Indian Bank unveil Q3 results today, 30 January 2012.
Power equipment major Bharat Heavy Electricals (Bhel) announced after market hours on Friday that net profit rose 2.09% to Rs 1432.61 crore on 19.21% growth in total income to Rs 10939.10 crore in Q3 December 2011 over Q3 December 2010.
Bhel's order backlog stood at Rs 146500 crore as on 31 December 2011. The company said order backlog was reduced to the extent of Rs 5847 crore in Q3 December 2011 as the company has seen one order cancelled during the quarter and few other small orders underwent change in scope. There is no such thing as slow moving orders in the order backlog, the company's management said in a post-result conference call with analyst. Bhel said provision (contractual obligation, LD and bad and doubtful debts) for the quarter has gone up to the extent of Rs 218 crore.
Saturday, January 28, 2012
BSE Bulk Deals to Watch - Jan 27 2012
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
27/1/2012 590006 Amrutanjan Health-$ CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 23726 793.36
27/1/2012 590006 Amrutanjan Health-$ CROSSEAS CAPITAL SERVICES PRIVATE LIMITED S 23596 788.30
27/1/2012 531448 ARROW SECURI SUNITA RAMESHCHANDRA SHAH B 55100 16.60
27/1/2012 531448 ARROW SECURI MORNING VANIJYA PVT LTD B 62500 16.61
27/1/2012 531448 ARROW SECURI AANIR SHARES SERVICES S 62500 16.61
NSE Bulk Deals to Watch - Jan 27 2012
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
27-JAN-2012,AMRUTANJAN,Amrutajan Health Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,23676,789.36,-
27-JAN-2012,GALLISPAT,Gallantt Ispat Ltd,VIJAYKUMAR SUSHILKUMAR SARAFF,BUY,193800,43.20,-
27-JAN-2012,GVKPIL,GVK Power & Infrastructur,SUNTECK WEALTHMAX CAPITAL PRIVATE LIMITED,BUY,8461910,15.32,-
27-JAN-2012,RANKLIN,Ranklin Solutions Limited,PANAKALA RAO SODISETTY,BUY,50000,11.02,-
27-JAN-2012,ZEELEARN,Zee Learn Limited,ESSEL MEDIA VENTURES PRIVATE LIMITED,BUY,3073552,14.50,-
Market up 3%, registers fourth straight weekly rise
The Indian markets stood positive for the fourth consecutive week. The Sensex rose 2.96% and the Nifty up 3.09%
Headlines for the week
RBI cuts CRR by 50 bps, leaves policy rates unchanged
Supreme Court rules in favour of Vodafone in tax case
Food inflation at -1.03% vs -0.42%
Cabinet gives final approval to Cairn-Vedanta deal
Wipro Q3 consolidated net profit up by 10%
RIL Q3 net profit falls by 14%
L&T Q3 net profit up by 18%
Nifty February 2012 futures above 5200
SBI February 2012 futures at discount
Nifty February 2012 futures were at 5212.80, at a premium of 8.10 points compared to spot closing of 5204.70. Turnover on NSE's futures & options (F&O) segment declined to Rs 69958.68 crore from Rs 191776.53 crore on Wednesday, 25 January 2012.
Tata Motors February 2012 futures were at 238.80, near pot closing of 240.10.
Next batch of Q3 earnings to dictate trend
The 3rd quarter earnings season is its peak and next batch of Q3 December 2011 results will dictate the near-term trend on the bourses. Auto and cement stocks will be focus as companies from these two sector start unveiling monthly sales volume data for January 2012 from Wednesday, 1 February 2012.
LIC Housing Finance and Indian Bank unveil Q3 results on Monday, 30 January 2012. ICICI Bank, Punjab National Bank, IDBI Bank, Dabur India, TVS Motor, NMDC and Siemens unveil quarterly results on Tuesday, 31 January 2012. Mahindra Satyam unveils Q3 results on Wednesday, 1 February 2012. ONGC, Marico, RCF and Corporation Bank announce Q3 results on Thursday, 2 February 2012. Dr. Reddy's Laboratories, Power Finance Corporation, Hindustan Copper and HPCL report Q3 results on Friday, 3 February 2012.
Sensex vaults 4.75% in 6 trading sessions
Indian stocks today, 27 January 2012, played a catch up with rally in Asian stocks on Thursday, 26 January 2012, triggered by Federal Reserve's pledge at the end of a two-day policy meeting on Wednesday, 25 January 2012, to keep US interest rates at ultra-low levels until late 2014. India's stock market was closed on Thursday, 26 January 2012, on account of Republic Day. Key benchmark indices surged to attain their highest closing level in more than 11 weeks. The barometer index, BSE Sensex, jumped 156.80 points or 0.92%, up close to 125 points from the day's low and off about 25 points from the day's high. Data showing stepping up of buying of Indian stocks by foreign funds underpinned sentiment. The market breadth was strong.
Thursday, January 26, 2012
Market ends F&O expiry day with modest gains
The Indian markets carried previous session’s gains in today’s trade and closed the session with modest gains. The Sensex up 81 points and the Nifty up 31 points.
Headlines for the day
Kale Consultants soars on buyback plan
Biocon Q3 consolidated net profit falls 16%
Patni Computer hits 52-week high after Q4 numbers
Union Bank declines on drop in Q3 net profit
BSE Mid-Cap, Small-Cap indices advance over 1% each
Key benchmark indices edged higher for the second straight day as data showing resumption of buying by foreign funds on Tuesday, 24 January 2012, boosted investor sentiment. The barometer index, BSE Sensex, settled above the psychological 17,000 level for the first time in more than 10 weeks. The 50-unit S&P CNX reached its highest closing level in more than 10-1/2 weeks. The Sensex advanced 81.41 points or 0.48%, up close to 60 points from the day's low and off about 55 points from the day's high. The market breadth, indicating the overall health of the market, was strong. BSE Mid-Cap and Small-Cap indices rose more than 1% each, outperforming the Sensex.
The Sensex advanced for the fifth day in a row today, 25 January 2012. From a recent low of 16,451.47 on 18 January 2012, the Sensex has jumped 625.71 points or 3.8% in five trading sessions. The Sensex has jumped 1,622.26 points or 10.49% so far in this month. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 2,733.96 points or 13.8%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,941.32 points or 12.82%.
Wednesday, January 25, 2012
REC jumps on encouraging Q3 numbers
Rural Electrification Corporation jumped 7.35% at Rs 203 at 15:30 IST on BSE after net profit rose 15.87% to Rs 769.51 crore on 24.07% increase in total income to Rs 2699.12 crore in Q3 December 2011 over Q3 December 2010.
The result was announced during trading hours today, 25 January 2012.
Meanwhile, the BSE Sensex was up 70.88 points, or 0.42%, to 17,066.65.
On BSE, 8.12 lakh shares were traded in the counter as against an average daily volume of 3.83 lakh shares in the past one quarter.
Markets set for positive opening
The Indian markets may extend previous session’s rally in today’s trade led by gains in the Asian region. F&O expiry may lead to a volatile session
Headlines for the day
Power Grid board okays two projects worth Rs1,682 cr
Jaypee to launch open offer for Andhra Cements shares today
Cabinet gives final nod to Cairn-Vedanta deal
GMR withdraws Croatia airport bid, looks to Brazil
SBI may soften lending rates in select sectors
RBI asks govt to free diesel prices
Market may extend recent gains on firm Asian stocks
The market may extend recent strong gains on firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 37 points at the opening bell. High volatility is expected on the bourses today as traders roll over positions in futures & options (F&O) segment from the near-month January 2012 series to February 2012 series. The near-month January 2012 F&O contracts expire today, 25 January 2012. The stock market remains closed tomorrow, 26 January 2012, on account of Republic Day.
Cairn India announced after market hours on Tuesday, 24 January 2012 that consolidated net profit rose 12.52% to Rs 2261.93 crore on 12.13% growth in total income to Rs 3510.58 crore in Q3 December 2011 over Q3 December 2010.
Tuesday, January 24, 2012
BSE Bulk Deals to Watch - Jan 24 2012
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
24/1/2012 522275 Areva T&D GRID EQUIPMENTS LIMITED B 90376365 179.00
24/1/2012 522275 Areva T&D ALSTOM GRID SAS S 90376365 179.00
24/1/2012 531560 Aroma Enterprises ADROIT TRADE LINK PVT LTD B 44000 16.20
24/1/2012 531560 Aroma Enterprises RAJYOG SHARE AND STOCK BROKERS B 25000 16.20
24/1/2012 531560 Aroma Enterprises ADROIT TRADELINK PRIVATE LIMITED B 25000 16.20
NSE Bulk Deals to Watch - Jan 24 2012
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
24-JAN-2012,DCB,Development Credit Bank L,PACE STOCK BROKING SERVICES PRIVATE LIMITED,BUY,1225355,42.67,-
24-JAN-2012,IFCI,IFCI Ltd.,ADROIT SHARE & STOCK BROKER PVT. LTD.,BUY,4515819,26.60,-
24-JAN-2012,IVRCLINFRA,IVRCL Limited,ARCADIA SHARE & STOCK BROKERS PRIVATE LIMITED,BUY,1702741,48.46,-
24-JAN-2012,PRAKASHCON,Prakash Constrowell Ltd,NITIN BABAJI PALANDE,BUY,50258,167.38,-
Market plays well on RBI’s move; Sensex up 244 points
The Indian markets cheered the RBI’s move and closed the trade at more than 2-month high on heavy volumes. The Sensex advanced 244 points and the Nifty up 81 points.
Headlines for the day
RBI cuts CRR by 50 bps, leaves policy rates unchanged
Strides Arcolab hits 52-week high on stake sale in unit
Yes Bank Q3 net profit up by 33%
Lupin Q3 consolidated net profit marginally up
Nifty February 2012 futures above 5100
Turnover surges
Nifty January 2012 futures were at 5108, at a discount of 19.35 points compared to spot closing of 5127.35. Nifty February 2012 futures were at 5133, at a premium of 5.65 points compared to spot closing. Turnover on NSE's futures & options (F&O) segment surged to Rs 205305.78 crore from Rs 111827.75 crore on Monday, 23 January 2012.
State Bank of India (SBI) January 2012 futures were at 2045.10, near spot closing of 2043.90.
Axis Bank January 2012 futures were at 1022.55, near spot closing of 1020.90.
Sensex, Nifty scale 10-week highs
Key benchmark indices reached their highest closing level in more than 10 weeks as the Reserve Bank of India (RBI)'s latest move to cut the cash reserve ratio (CRR) requirement for banks by 50 basis points to 5.5% from 6% at a quarterly policy review today, 24 January 2012, boosted investor sentiment. The barometer index, BSE Sensex, settled a tad below the psychological 17,000 mark, having alternately moved above and below that mark in intraday trade. The Sensex jumped 244.04 points or 1.46%, off about 55 points from the day's high and up about 225 points from the day's low. Also boosting the sentiment was a statement from the central bank that the reduction in CRR can be viewed as a reinforcement of the guidance that future rate actions will be towards lowering interest rates.
Markets trade higher amid volatility
The Indian markets are trading with gains amid volatility ahead of credit policy to be declared today. The major heavyweights supporting the markets are RIL, L&T, HDFC, Bharti Airtel, HUL, TCS and Cipla. The market breadth was in favour of advances, with 56% shares rising and 40% shares falling. The broader indices — BSE Smallcap up by 0.07% and BSE Midcap up by 0.39%.
Asian shares are marginally higher, after the European Union announced it’s planning an embargo of Iranian oil exports.
Among the 13 sectoral indices, eight stocks were trading higher. Gainers - BSE CG up by 1.01%, BSE CD up by 0.93% and BSE Oil & Gas up by 0.80%. Losers - BSE Realty down by 0.83%, BSE Metal down by 0.40% and BSE Auto down by 0.36%.
Daily News Roundup - Jan 24 2012
Jet Airways said that it will rebrand its low-fare subsidiary JetLite as Jet-Konnect Airways by May this year.(ET)
Suzlon, Bharat Light and Power Pvt Ltd, and another company called Greenshore Energy, have shown interest in putting up large-scale wind farms in the seas near Tamil Nadu.(BL)
Reliance Industries Ltd (RIL) gave an assurance to the Supreme Court that it would pay from the beginning of next month value-added tax (VAT) on gas sale in Uttar Pradesh during the period of pendency of the case on double taxation – Central Sales Tax (CST) and VAT – in the Allahabad High Court.(BL)
Doors wide open!
"The doors we open and close each day decide the lives we live." - Flora Whittemore.
A cautious start and muted morning trade is in the offing as investors remain on tenterhooks before the RBI’s latest policy announcement. The doors remain wide open even though markets have resigned to the fact that there won’t be any rate cuts today.
The rupee and the Government’s fiscal profligacy are among the other factors playing on the RBI’s minds. While the rupee has strengthened a wee bit, lack of comfort on the fiscal front is a cause for concern.
Meanwhile, the probability of a CRR cut has gone up due to persistently tight liquidity. Still, it will be better to adopt a wait and watch approach.
Crude prices crawl up
Prices break three-day losing streak as the European Union imposes an import ban on Iranian oil
Crude prices ended higher on Monday, 23 January 2012 at Nymex. Prices rose due to a low dollar and as European Union put an import ban on oil from Iran. Supply concerns took prices up.
Light and sweet crude for March delivery rose $1.25 (1.3%) to $99.58 a barrel on the New York Mercantile Exchange on Monday. Prices dropped 0.2% last week.
Market may open higher on firm Asian stocks; RBI's policy review eyed
The market may open higher on firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 18.50 points at the opening bell. High volatility is expected this week as traders roll over positions in futures & options (F&O) segment from the near-month January 2012 series to February 2012 series. The near-month January 2012 F&O contracts expire tomorrow, 25 January 2012. The stock market remains closed on Thursday, 26 January 2012, on account of Republic Day.
The Reserve Bank of India (RBI) is widely expected to keep its key lending rate viz. the repo rate steady at the Third Quarter Review of Monetary Policy 2011-12 today, 24 January 2012, as headline inflation remains high. At its mid-quarterly monetary policy review meet on 16 December 2011, the RBI left its main lending rate unchanged in order to support faltering economic growth as inflation shows signs of cooling.
Interest rate sensitive sectors could be in focus ahead of RBI meet
Shares in interest rate sensitive sectors such as real estate, banking and automobiles may see action ahead of the Reserve Bank of India (RBI)'s meeting today, 24 January 2012. The RBI is widely expected to keep its key lending rate viz. the repo rate steady at the Third Quarter Review of Monetary Policy 2011-12 today, as headline inflation remains high.
Gas output from Reliance Industries (RIL)-operated D6 block could reportedly fall below the current 38-39 million cubic metres a day (mmscmd), under half of the estimated peak rate of 80 mmscmd. All oil, gas fields undergo some decline. So this (output from D6's producing fields) can also decline, S.K. Srivastava, director at the Directorate General of Hydrocarbons, told the media on Monday, 23 January 2012.
Monday, January 23, 2012
BSE Bulk Deals to Watch - Jan 23 2012
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
23/1/2012 511706 Action Fin Kedia Consultants Pvt Ltd B 99007 28.25
23/1/2012 531560 Aroma Enterprises BIPIN HARILAL GANDHI B 28900 17.00
23/1/2012 531448 ARROW SECURI GAUTAM RESOURCES LTD B 50000 17.31
23/1/2012 531448 ARROW SECURI AANIR SHARES SERVICES B 51500 17.35
23/1/2012 531448 ARROW SECURI PREMALSINH PUNJAJI GOL S 61500 17.35
23/1/2012 509053 Banas Finance PONDURAI BALASELVI S 516948 54.64
23/1/2012 511720 Capman Fin SLOGAN INFOTECH PRIVATE LIMITED B 29000 9.35
NSE Bulk Deals to Watch - Jan 23 2012
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
23-JAN-2012,ELFORGE,EL Forge Limited,CSA HOLDINGS PVT LTD,BUY,401800,9.25,-
23-JAN-2012,IVRCLINFRA,IVRCL Limited,ARCADIA SHARE & STOCK BROKERS PRIVATE LIMITED,BUY,1587736,45.06,-
23-JAN-2012,IVRCLINFRA,IVRCL Limited,INDUS PORTFOLIO (P) LTD,BUY,1340523,45.13,-
23-JAN-2012,JKPAPER,JK Paper Limited,KAHAN INVESTMENTS PRIVATE LIMITED,BUY,715000,36.00,-
23-JAN-2012,MINDTREE,MindTree Limited,COFFEE DAY RESORTS PVT LTD,BUY,1360000,474.98,-
23-JAN-2012,ELFORGE,EL Forge Limited,TEAM INDIA MANAGERS LIMITED,SELL,400000,9.25,-
23-JAN-2012,INDOWIND,Indowind Energy Limited,PASSAGE TO INDIA MASTER FUND LIMITED,SELL,450000,5.27,-
23-JAN-2012,IVRCLINFRA,IVRCL Limited,ARCADIA SHARE & STOCK BROKERS PRIVATE LIMITED,SELL,1587569,45.07,-
23-JAN-2012,IVRCLINFRA,IVRCL Limited,INDUS PORTFOLIO (P) LTD,SELL,1044559,45.30,-
23-JAN-2012,JISLDVREQS,Jain DVR Equity Shares,JANUS INVESTMENT FUND-JANUS ORIENT FUND,SELL,167003,36.89,-
23-JAN-2012,KOUTONS,Koutons Retail India Limi,IFCI LTD.,SELL,460621,16.15,-
23-JAN-2012,MINDTREE,MindTree Limited,ASHOK SOOTA,SELL,1354130,475.00,-
23-JAN-2012,RUCHISOYA,Ruchi Soya Inds Ltd.,MERRILL LYNCH CAPITAL MARKETS ESPANA S.A. SVB,SELL,2438000,89.46,-
Maruti Suzuki vaults in range bound market
Key benchmark indices closed flat after swinging between gains and losses in a narrow range. The barometer index, BSE Sensex, rose 12.72 points or 0.08%, up close to 80 points from the day's low and off about 30 points from the day's high. The Sensex attained its highest closing level in more than 6-1/2 weeks. Cellular services major Idea Cellular jumped after reporting strong sequential growth in earnings in Q3 December 2011. India's largest engineering and construction firm by order book L&T edged higher after good Q3 results. Kotak Mahindra Bank fell on profit taking after strong Q3 results.
The Sensex has jumped 1,296.01 points or 8.39% so far in this month. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 3,059.41 points or 15.44%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,615.87 points or 10.67%.
Daily News Roundup - Jan 23 2012
SAIL has decided not to develop and operate the proposed 14 mn tonnes per annum Rowghat iron ore mine project in Chhattisgarh; instead it would assign a private outsider for the job on entire mineral off-take contract at a prescribed price.(BL)
Srei Infrastructure Finance Ltd is hopeful of raising the first tranche of its proposed US$1-bn infrastructure fund by October or November this year. The company plans to raise about US$500 mn in the first tranche.(BL)
Ramky Infrastructure Ltd., through a step down subsidiary, has signed a concession agreement with the National Highways Authority of India for a Rs 10.3bn road project (a tollway) in Karnataka.(BL)
Swinging Sensex turns around in late trade
What a recovery! It looked like a certain negative finish for the Indian indices until things suddenly turned around in the dying minutes of trade. The two main Indian indices ended with decent gains at the end of a choppy session, thanks largely to the late upsurge. The non-index counters closed mostly subdued though, dragging down the market breadth for the day.
Finally, the Sensex ended at 16,739, up 95 points or ~0.6% from the last close. It earlier touched a day's high of 16,788 and a day's low of 16,611. It opened at 16,745.
The Nifty settled at 5,049, up 30 points. It hit a day’s high of 5,064 and day’s low of 5,004. It had opened at 5,044.
Testing times ahead!
There can be no happiness if the things we believe in are different from the things we do. - Freya M Stark.
After a surprisingly solid start to 2012, markets will face their first real test this month. RIL will be in focus after its Q3 results left a lot to be desired. It remains to be seen if the share buyback manages to support the stock.
Weakness in RIL may spell some trouble for the main indices. The start today will be sedate at best. Quite a few important Asian markets are shut today on account of the Chinese New Year. Japanese shares are subdued.
Markets expect subdued start
The Indian markets may begin the first session of the week on a quiet note. RIL’s disappointing numbers may weigh on sentiments.
Headlines for the day
RBI may go for rate cut in February: Moody's
L&T eyes 10% growth in sales from electrical division
Essar makes foray into Indonesia's coal sector
Wipro to expand in male grooming segment
RIL to develop 4 satellite fields in KG block
Events for the day
Results: GAIL, Idea, L&T, Maruti, Sterlite, Colgate
Market may open flat; RIL in focus
Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a flat opening. High volatility is expected this week as traders roll over positions in futures & options (F&O) segment from the near-month January 2012 series to February 2012 series. The near-month January 2012 F&O contracts expire on Wednesday, 25 January 2012. The stock market remains closed on Thursday, 26 January 2012, on account of Republic Day.
Reliance, India's biggest company by market value, said after market hours on Friday, 20 January 2012 that net profit fell 13.6% to Rs 4440 crore on 42.4% rise in sales to Rs 85135 crore in Q3 December 2011 over Q3 December 2010. The company said it would buy back up to 12 crore shares at a maximum price of Rs 870 and payable in cash upto an aggregate amount not exceeding Rs. 10,440 crore from the open market through stock exchanges.
Saturday, January 21, 2012
Markets close week with 4% gain
Markets posted gains for the third consecutive week and rose 4% on positive global cues and strong foreign fund inflows
Headlines for the week
December inflation at 7.47 % vs 9.1% in November
Supreme Court rules in favour of Vodafone in tax case
RIL Q3 net profit falls by 14%
HDFC Bank Q3 net profit up 31%
Wipro Q3 consolidated net profit up by 10%
TCS Q3 consolidated net profit up by 18%
Hero MotoCorp Q3 net profit jumps by 43%
HCL Tech Q2 net profit up by 43%
ITC Q3 net profit jumps 22%
Market may remain volatile ahead of F&O expiry
High volatility is expected in a truncated week ahead as traders roll over positions in futures & options (F&O) segment from the near-month January 2012 series to February 2012 series. The near-month January 2012 F&O contracts expire on Wednesday, 25 January 2012. The stock market remains closed on Thursday, 26 January 2012, on account of Republic Day.
The Reserve Bank of India (RBI) is widely expected to keep its key lending rate viz. the repo rate steady at the Third Quarter Review of Monetary Policy 2011-12 on Tuesday, 24 January 2012, as headline inflation remains high. Data released early this week showed headline inflation eased to two-year low of 7.47% in December 2011 from 9.11% in November 2011. But prices of manufactured products -- a key gauge of core inflationary pressures -- remained elevated.
Sensex, Nifty scale over 6-week highs as bank stocks rally
Key benchmark indices reached their highest closing level in more than six weeks on data showing heavy buying of Indian stocks over the past few days by foreign funds. Intraday volatility was high. The barometer index, BSE Sensex, rose 95.27 points or 0.57%, up 127.30 points from the day's low and off 49.47 points from the day's high. The market breadth was negative. Cigarette major ITC dropped on profit taking after reporting strong Q3 results. IT major Wipro rose after strong Q3 results.
The Sensex has jumped 1,284.09 points or 8.3% so far in this month. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 3,072.13 points or 15.50%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,603.15 points or 10.59%.
Friday, January 20, 2012
Thursday, January 19, 2012
BSE Bulk Deals to Watch - Jan 19 2012
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
19/1/2012 590006 Amrutanjan Health-$ CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 27388 810.51
19/1/2012 590006 Amrutanjan Health-$ CROSSEAS CAPITAL SERVICES PRIVATE LIMITED S 27338 805.67
19/1/2012 520121 Arcee Inds EURO GOLD JEWELLERY LIMITED B 42125 2.90
19/1/2012 520121 Arcee Inds SUNIL MAHLA S 42125 2.90
19/1/2012 531560 Aroma Enterprises RAJYOG SHARE AND STOCK BROKERS B 45000 18.75
NSE Bulk Deals to Watch - Jan 19 2012
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
19-JAN-2012,AARTIIND,Aarti Industries Ltd.,RASHESH C. GOGRI,BUY,400000,48.65,-
19-JAN-2012,AMRUTANJAN,Amrutajan Health Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,27418,806.46,-
19-JAN-2012,ELFORGE,EL Forge Limited,KANNAN VISHWANATH,BUY,303029,9.00,-
19-JAN-2012,GTL,GTL Limited,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,814782,46.20,-
19-JAN-2012,GTL,GTL Limited,GENUINE STOCK BROKERS PVT LTD,BUY,627309,46.28,-
Global cues lift Sensex 192 points higher
The Indian markets closed the trade on a strong note led by positive global cues. The Sensex rose 192 points and the Nifty surged by 63 points
Headlines for the day
Food inflation at -0.42% vs -2.9%
Reliance Capital spurts on plans of stake sale in arm
HDFC Bank Q3 net profit up 31%
Bajaj Auto Q3 net profit up by 19%
Dish TV Q3 net loss at Rs42.96 crore
Nifty January 2012 futures above 5000
Turnover rises
Nifty January 2012 futures were at 5020.35, near spot closing of 5018.40. Turnover on NSE's futures & options (F&O) segment rose to Rs 114230.17 crore from Rs 108930.23 crore on Wednesday, 18 January 2012.
State Bank of India January 2012 futures were at 1884.90, at a premium compared to spot closing of 1880.20.
Reliance Industries January 2012 futures were at 784.30, near spot closing of 784.40.
ICICI Bank January 2012 futures were at 800, same as spot closing of 800.
Market scales six-week closing high; Nifty reclaims 5,000
Key benchmark indices reached their highest closing level in more than six weeks as private sector bank HDFC Bank and two-wheeler makers -- Hero MotoCorp and Bajaj Auto reported strong Q3 results. The 50-unit S&P CNX Nifty regained the psychological 5,000 level. The barometer index, BSE Sensex, jumped 192.27 points or 1.17%, up close to 70 points from the day's low and off about 20 points from the day's high. Data showing substantial purchases of Indian stocks by foreign funds over the past few days boosted investor sentiment. The market breadth was strong. BSE Mid-Cap and Small-Cap indices outperformed the Sensex.
The Sensex has jumped 1,188.82 points or 7.69% so far in this month. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 3,167.40 points or 15.98%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,507.88 points or 9.96%.
Wednesday, January 18, 2012
BSE Bulk Deals to Watch - Jan 18 2012
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
18/1/2012 526707 Alchemist BP FINTRADE PRIVATE LIMITED B 61632 59.65
18/1/2012 526707 Alchemist BP FINTRADE PRIVATE LIMITED S 67500 59.80
18/1/2012 590006 Amrutanjan Health-$ Quadeye Securities Pvt Ltd B 16376 835.95
18/1/2012 590006 Amrutanjan Health-$ CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 20938 834.12
18/1/2012 590006 Amrutanjan Health-$ A K G STOCK BROKERS PRIVATE LIMITED B 16061 834.64
NSE Bulk Deals to Watch - Jan 18 2012
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
18-JAN-2012,AMRUTANJAN,Amrutajan Health Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,52504,838.97,-
18-JAN-2012,AMRUTANJAN,Amrutajan Health Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,21288,831.60,-
18-JAN-2012,AMRUTANJAN,Amrutajan Health Ltd,DINESH MUNJAL,BUY,20419,837.44,-
18-JAN-2012,AMRUTANJAN,Amrutajan Health Ltd,EXCEL MERCANTILE PRIVATE LIMITED,BUY,20411,839.24,-
18-JAN-2012,AMRUTANJAN,Amrutajan Health Ltd,MOHIT GUJRAL,BUY,16455,842.71,-
18-JAN-2012,AMRUTANJAN,Amrutajan Health Ltd,NIKON FINLEASE PVT. LTD,BUY,34257,840.84,-
18-JAN-2012,BEDMUTHA,Bedmutha Indust Ltd,NITIN BABAJI PALANDE,BUY,116668,33.69,-
Markets end volatile session in red; RIL rallies 5%
The Indian markets closed the volatile session in the negative terrain, with the Sensex down by 15 points and the Nifty down by 12 points.
Major headlines
RIL Board to mull Buy back on Jan 20
Aviation rise on govt nod for 49% FDI
Bajaj Finance gains after posting Q3 results
Zee News gains on Q3 results
KEC Intel gains on securing order worth Rs340 cr
Market snaps three-day winning streak
Key benchmark indices edged lower in choppy trade on caution ahead of a key meeting between Greece and its creditors today, 18 January 2012. The market snapped a three-day winning streak. The market breadth was weak. The barometer index, BSE Sensex,was down 14.58 points or 0.09%, off close to 65 points from the day's high and up about equal points from the day's low. Index heavyweight Reliance Industries (RIL) surged nearly 5% after the company said its board will consider and approve on 20 January 2012 a proposal for buyback of the company's equity shares.
The Sensex had risen 428.54 points or 2.67% in three trading sessions to 5-1/2-week closing high of 16,466.05 on Tuesday, 18 January 2012, from a recent low of 16,037.51 on 12 January 2012. The barometer index has jumped 996.55 points or 6.44% so far in this month. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 3,359.67 points or 16.95%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,315.61 points or 8.69%.
Daily News Roundup - Jan 18 2012
Kingfisher operations may be hit as 50 pilots ‘report sick'. (BL)
Essar Oil is facing a sales tax liability of about Rs63bn following a Supreme Court order. (BL)
Reliance Communications has tied up with a clutch of banks for a loan to redeem its outstanding foreign currency convertible bonds worth Rs61.25bn. (BL)
Maruti Suzuki and General Motors (GM) have both announced a price increase on their cars for the third time this fiscal. (BL)
Take your time!
Peace is when time doesn't matter as it passes by. - Maria Schell.
A quiet opening is on the cards as most Asian peers seem to be taking a breather after a two-day bounce. Indian equities are likely to consolidate following Tuesday’s phenomenal rally. The current upswing may sustain for a few more days if FII inflows persist and overseas markets are supportive. Don’t lower your guard as yet; considerable risks prevail for both Indian and overseas markets.
Europe appears to be on the brink of a recession due to the long-running debt crisis. The US is steady at the moment but the jury’s still out on whether it can maintain the current tempo. China may avoid a hard landing despite a marked slowdown.
Precious metals climb up
Gold settles at five-week highs
Precious metal prices ended higher on Tuesday, 17 January 2012 at Comex. Yellow metal prices ended the U.S. day session with solid gains, but down from the session high, and hit a fresh five-week high on Tuesday. A lower U.S. dollar index and higher crude oil prices helped boost bullions on Tuesday. U.S. markets were closed for a holiday on Monday, 16 January 2012 and most assets traded sharply higher in the first business day of the week.
Gold for February delivery ended higher by $24.8 or 1.5%, to end at $1,655.6 an ounce on the Comex division of the New York Mercantile Exchange on Tuesday. It was highest settlement for gold in almost five weeks. Last week, gold gained 0.9%. For the year 2011, gold rose 10%.
Crude prices end considerably higher
Natural gas prices drop to lowest levels in more than nine years
Crude prices ended substantially higher on Tuesday, 17 January 2012 at Nymex. Prices got a good support from the weak dollar. Continuing problems in Iran and Nigeria also boosted prices together with better than expected economic data from Wall Street and China. U.S. markets were closed for a holiday on Monday, 16 January 2012 and most assets traded sharply higher in the first business day of the week.
Some better-than-expected economic news from China and the European Union Tuesday helped to boost stock and commodity markets. The Euro currency made some short-covering gains on the EU data, which in turn put some downside price pressure on the U.S. dollar index.
Market seen halting three-day gains on subdued Asian equities
The market is likely to open slightly lower on Wednesday after logging gains in prior three trading sessions. Asian markets were trading mixed. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 11 points at the opening bell. Jindal Steel & Power's Q3 December 2011 quarterly results due today, 18 January 2012 will be closely watched.
India's largest software services exporter by revenue TCS after market hours on Tuesday, 17 January 2012, on a consolidated basis, reported 21.8% rise in net profit to Rs 2,803 crore on 13.5% rise in revenue to Rs 13,204 crore in Q3 December 2011 over Q2 September 2011.
Tuesday, January 17, 2012
Sensex zooms 277 points on global optimism
Bulls stood strong all throughout the day, with the Indian markets keeping its head high on account of all-round buying and positive global cues.
Major headlines
Maruti Suzuki hikes vehicle prices
RCom to refinance outstanding bonds worth $1.18 bn
Tata Motors rises on strong global sales
Chambal Fertilisers tumbles on net loss in Q3
HCL Tech zooms after good Q2 numbers
Nifty January 2012 futures near spot price
Turnover surges
Nifty January 2012 futures were at 4972.50, near spot closing of 4967.30. Turnover on NSE's futures & options (F&O) segment surged to Rs 122915.63 crore from Rs 86999.25 crore on Monday, 16 January 2012.
Tata Motors January 2012 futures were at 216.70, near spot closing of 216.60.
State Bank of India January 2012 futures were at 1840, near spot closing of 1838.85.
RCom gains on tying up funds for FCCB redemption
Reliance Communications rose 3.12% at Rs 89.15 at 15:04 IST on BSE after the company said it tied up refinancing for outstanding foreign currency convertible bonds worth Rs 6125 crore.
The announcement was made during trading hours today, 17 January 2012.
Meanwhile, the BSE Sensex was up 274.07 points, or 1.69%, to 16,463.43.
On BSE, 32.28 lakh shares were traded in the counter as against an average daily volume of 19.75 lakh shares in the past one quarter.
Market scales 5-1/2-week high on strong Chinese Q4 GDP data
Gains in world stocks triggered by stronger-than-expected GDP growth in China, the world's second biggest economy, in the fourth quarter of 2011, strong Q2 December 2011 results from IT major HCL Technologies and data showing buying of Indian stocks by foreign funds over the past few days, triggered a rally on the domestic bourses today, 17 January 2012. The 50-unit S&P CNX Nifty reached its highest closing level in nearly 6 weeks. The barometer index, BSE Sensex, scaled its highest closing level in more than 5-1/2 weeks. The Sensex jumped 276.69 points or 1.71%, off about 35 points from the day's high and up close to 195 points from the day's low. The market breadth was strong. All the 13 sectoral indices on BSE were in green.
Indian shares advanced for the third day in a row today, 17 January 2012. The Sensex has risen 428.54 points or 2.67% in the last three trading sessions from a recent low of 16,037.51 on 12 January 2012. The barometer index has jumped 1,011.13 points or 6.54% so far in this month. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 3,345.09 points or 16.88%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,330.19 points or 8.78%.
Daily News Roundup - Jan 17 2012
Reliance Infrastructure Ltd transferred Rs5.2bn into its subsidiary BSES’s account for equity infusion. (BS)
PFC may partner Edelweiss Financial Services for the US$1bn PE fund it plans to establish. (BS)
The government has agreed to infuse fresh capital of Rs7.75bn in Bank of Baroda by the end of March 2012, CMD M D Mallya said. (BS)
SBI has said the Government has approved a capital infusion of Rs60-80bn by March 31. (BS)
Bank of Baroda plans to open about 13 overseas branches in the next 6 months. (BL)
Sensex ekes out slim gains on inflation relief
The Indian equity market coped quite well with Standard & Poor's mass sovereign downgrades in Europe as inflation fell to a two-year low in December, giving elbow room to the RBI to adjust its monetary policy and support economic growth. Trade Secretary said today that India's exports surged by ~26% during April-December 2011 and could hit US$300bn for the full fiscal year.
It was a cautious start to the week for the Indian stocks, as the benchmark indices ended almost unchanged. The equity benchmarks managed to recover smartly from session lows. Earlier, they had got stuck in a tight trading range due to weakness across the Asian markets.
Downgrades ignored, flat start in sight!
What we anticipate seldom occurs; what we least expected generally happens.- Benjamin Disraeli.
The much-dreaded mass downgrades of struggling eurozone members by S&P hardly caused any ripples across world markets. In fact, Moody’s affirmed its "AAA" rating of France. S&P delivered another knock though by cutting the top rating of the eurozone bailout fund, EFSF.
European Central Bank (ECB) President Mario Draghi has downplayed the S&P downgrades but warns that the eurozone situation remains grave. Meanwhile, talks over how writedowns of Greek debt should be handled will resume on Wednesday after a brief pause last week.
Monday, January 16, 2012
Market scales 5-1/2-week closing high
Key benchmark indices registered small gains to reach 5-1/2-week closing highs as the headline inflation hit 2-year low, which reinforced expectations that the central bank will start cutting interest rates in the coming months to revive slowing economic growth. The barometer index, BSE Sensex, advanced 34.74 points or 0.22%, up about 150 points from the day's low and off close to 25 points from the day's high. The market breadth turned positive from negative late trade.
Data showing buying by foreign funds recently underpinned sentiment. Foreign institutional investors (FIIs) bought shares worth Rs 293.51 crore on Friday, 13 January 2012, as per provisional data from the stock exchanges. FII inflow totaled Rs 1555.94 crore in four trading sessions from 10 to 13 January 2012, as per provisional data from the stock exchanges. FIIs have bought shares worth a net Rs 2183.19 crore so far in January 2012, as per provisional data from the stock exchanges.
Market seen opening lower on weak global cues; inflation data eyed
The market is likely to open lower on weak global cues on renewed worries of the euro zone debt crisis. US markets edged lower on Friday, 13 January 2012 while Asian markets were trading lower today, 16 January 2012 after Standard & Poor's on Friday, 13 January 2012 cut the rating of nine European nations. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 42.50 points at the opening bell.
Reliance Industries (RIL) may see action on reports the company is planning to pick up a minimum 26% stake in leading cable operators, including multi-system operators. The move is a part of the group's strategy to rope in cable operators as well as multi-system operators (MSOs) as partners to provide last-mile connectivity to consumer homes for 4G broadband services, which would include data, voice and television.
Daily News Roundup - Jan 16 2012
Reliance Industries is planning to pick up a minimum 26% stake in leading cable operators, including multi-system operators. (BS)
Funds belonging to the IL&FS group have picked up 9.36% stake in a subsidiary of Indiabulls Real Estate for Rs2bn. (BS)
ASK Group is on the road to raise as much as Rs30bn for two funds it is advising. (BS)
Shree Cement has placed equipment orders of nearly Rs7bn for its kiln unit in Rajasthan, even as projects amounting to more than Rs130bn are running behind schedule. (BS)
Less hope, just cope!
Everything that is done in the world is done by hope. - Martin Luther.
We hoped to share some brighter backdrop before the open. But alas, Friday the 13th hit the debt-stricken eurozone hard. Standard & Poor’s lowered the debt ratings of as many as nine nations. S&P stripped France and Austria of their coveted "AAA" ratings and reduced Portugal’s debt status to junk.
Separately, talks aimed at finalizing voluntary writedowns for holders of Greek sovereign debt fell through, raising concerns about a default. Greece, France and the rest of the eurozone will continue to be in focus this week as well.
Markets may fall at start on euro zone downgrades
The markets are expected to face pressure from the worsening eurozone crisis after a series of national ratings downgrades by Standard & Poor's that could further delay a European recovery.
Headlines for the day:
RIL plans to pick 26% stake in leading cable operators
DCB defers Rs150 crore QIP plan to June
Government owes Rs110 crore to Air India for VVIP flights
SBI trims housing loan processing fee
FIIs invest Rs15,000 crore in debt, equities this month
Copper ends marginally lower
Prices register healthy weekly gains
Copper prices ended lower on Friday, 13 January 2012 at Comex. Copper prices fell on Friday as speculation ratings agency Standard & Poor's could downgrade a number of euro zone countries prompted a pull back in assets perceived as risky. A strong dollar also hammered prices.
Copper for March delivery ended lower by 1 cent (0.3%) at $3.64 a pound at Comex on Friday. Prices rallied 5.8% for the week. For the year 2011, copper shed 23% following a 30% increase in 2010 and a 140% jump in 2009, boosted by surging demand from China's manufacturers. China accounts for 40% of the world's refined copper consumption.
Precious metals end lower
Prices register weekly gains though
Precious metal prices ended lower on Friday, 13 January 2012 at Comex. Prices fell as dollar headed up for the day on Friday. Prices also fell due to profit booking. Nevertheless, prices gained for the week.
Gold for February delivery ended lower by $16.9 or 1%, to end at $1,630.8 an ounce on the Comex division of the New York Mercantile Exchange on Friday. It fell to a low of $1,625.7 during intra day trading. For the week, gold gained 0.9%. For the year 2011, gold rose 10%.
Crude prices end marginally lower
Geo political tensions in Iran and Nigeria coupled with a strong dollar keep prices steady
Crude prices ended lower on Friday, 13 January 2012 at Nymex. Prices traded with a narrow range due to continuing geo political tensions in Iran and Nigeria coupled with a strong dollar.
Light and sweet crude for February delivery fell $0.40 (0.4%) to $98.7 a barrel on the New York Mercantile Exchange on Friday. Prices fell 2.8% for the week erasing all of last week's gain. For the year 2011, crude futures gained 8.2%.
Sunday, January 15, 2012
Saturday, January 14, 2012
Markets rise for 2nd week
The Indian markets advanced for the second consecutive week, with the Sensex up by 1.89% and the Nifty up by 2.44%.
Headlines for the week
Moody's upgrades India's rating to investment grade
Car sales rise 8.5% in December
RBI says no to CRR cut for now
IIP turns positive in November
Food inflation at -2.9 vs -3.36%
Infosys cuts FY12 dollar revenue guidance
HDFC Q3 net profit up by 10%
Morgan Stanley downgrades India's energy sector
Friday, January 13, 2012
Market gains on hopes of rate cut, easing euro-zone debt worries
The market edged higher last week on receding euro-zone debt worries. Positive sentiment was also supported by a steep decline in food inflation in late December 2011, which underpinned hopes that the Reserve Bank of India (RBI) will start cutting interest rates in the coming months to prop up slowing economy. A stronger-than-expected growth in industrial production in November 2011 also strengthened investors' sentiment.
The BSE Sensex rose 286.89 points or 1.81% to 16,154.62 in the week ended Friday, 13 January 2012. The S&P CNX Nifty rose 111.90 points or 2.35% to 4,866.
The BSE Mid-Cap index rose 6.14% and the BSE Small-Cap index rose 8.19%. Both these indices outperformed the Sensex.
Key Q3 results in focus
The results season has begun on a weak note, with IT bellwether Infosys cutting its earnings and revenue growth guidance in dollar terms for the year ending March 2012 (FY 2012). Analysts expect weak Q3 December 2011 results due to lower volume growth in a slowing economy, higher raw material costs and higher interest charges. The focus will be on guidance from the company managements on outlook for the remaining part of the year and for the next year.
TCS and HCL Tech unveil quarterly results on Tuesday, 17 January 2012. Jindal Steel & Power announces Q3 results on Wednesday, 18 January 2012. HDFC Bank, Hero MotoCorp and Bajaj Auto unveil Q3 results on Thursday, 19 January 2012. Reliance Industries, Wipro, ITC, Axis Bank, Jet Airways (India) and Hindustan Zinc unveil Q3 results on Friday 20 January 2012. JSW Steel reports its Q3 standalone results on Friday, 20 January 2012. UltraTech Cement, Asian Paints, Zee Entertainment Enterprises and Godrej Consumer Products unveil Q3 results on Saturday, 21 January 2012.
Coal India spurts as 25% wage hike within expectation
Coal India jumped 5.50% to Rs 343.40 at 13:56 IST on BSE on reports the company has agreed in-principle to increase the wages of its three lakh-odd mine workers by 25%, as against a 100% hike that the unions had demanded last year.
Meanwhile, the BSE Sensex was up 203.43 points, or 1.27%, to 16,240.94.
On BSE, 9.32 lakh shares were traded in the counter compared with average volume of 5.15 lakh shares over the past two weeks.
Nifty settles at 5-week high as euro-zone debt worries ease
Key benchmark indices edged higher as stocks rose across the globe on receding euro-zone debt worries. The 50-unit S&P CNX Nifty attained its highest closing level in five weeks. The barometer index, BSE Sensex, jumped 117.11 points or 0.73%, up about 105 points from the day's low and off about 100 points from the day's high. The market breadth was strong. BSE Mid-Cap and Small-Cap indices rose more than 1% each, with both these indices outperforming the Sensex. Index heavyweight Reliance Industries (RIL) edged lower in volatile trade. Reliance Anil Dhirubhai Ambani (ADA) group shares surged. World stocks rose as successful European bond auctions on Thursday, 12 January 2012, helped alleviate some of the worst concerns about the euro-zone's debt woes.
The Sensex has jumped 699.70 points or 4.52% so far in this month. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 3,656.52 points or 18.45%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,018.76 points or 6.73%.
Daily News Roundup - Jan 13 2012
Coal India Ltd has reached at a broad consensus with the labour unions to enhance workers' salaries by 25% in the forthcoming National Coal Wage Agreement (NCWA)-IX. (BL)
The Bombay High Court has dismissed the public interest litigation filed against Reliance Industries on the ground that the company has still time to submit its reply to the government. (ET)
Unitech and Telenor have agreed to set up two committees to manage expenses and projects undertaken by Uninor. (BL)
Friday the 13th….flying high at start!
The optimist pleasantly ponders how high his kite will fly; the pessimist woefully wonders how soon his kite will fall." - William Arthur Ward
It’s a period of enlightenment, peace, prosperity and happiness as Sankranti is celebrated with some regional variations across the country. The indices have not really been behaving like kites soaring against contrary wind. Despite decent results, the damage on Thursday was done by a weak Infosys guidance which sent the stock tumbling. The fact that clients were tightening their discretionary spending on technology sent IT stocks into a tailspin.
On the bright side, India’s industrial production grew by 5.9 per cent in November, with robust 6.6% growth in manufacturing output. Finance Minister Pranab Mukherjee said some ‘pro-active measures’ would now be needed to push the growth momentum, without specifying what he would do.
Better trades for the day - Jan 13 2011
Commodity cues
US Crude Oil prices fell on Thursday in a late sell-off sparked by a report that a proposed European Union ban on imports of Iranian crude would be phased in over six months.
Stock in news:
RINL board okays setting up of Rs5,000 crore new units.
GMR, Andhra sign pacts for Rs33,000-crore projects.
Oil India in talks to buy asset in Africa.
LIC readies Rs10,000-crore war chest to lap up SUUTI stake.
RBI sold $2.9 billion in November, most in 30 months.
IDFC unveils round two of tax-saving bonds.
Yellow metal closes at a month high
Precious metal prices go up due to low dollar and firm crude prices
Precious metal prices ended moderately higher on Thursday, 12 January 2012 at Comex. Comex February gold futures prices on Thursday ended the U.S. day session firmer but down from the early-session high. Prices did hit another fresh four-week high earlier on. A lower U.S. dollar index and firmer crude oil prices earlier helped prices go up.
Gold for February delivery ended higher by $8.1 or 0.5%, to end at $1,647.7 an ounce on the Comex division of the New York Mercantile Exchange on Thursday. It was highest close for gold in a month. Last week, gold gained 3.2%. For the year 2011, gold rose 10%.
Thursday, January 12, 2012
Setback in Infosys weighs on key indices
Key benchmark indices edged lower in choppy trade, with IT stocks leading the decline after IT bellwether Infosys issued a muted outlook for Q4 March 2012 at the time of reporting Q3 December 2011 results before trading hours today, 12 January 2012. Nonetheless, the market staged intraday recovery with the barometer index, BSE Sensex, regaining the psychological 16,000 level after falling below that level in intraday trade. Gains in European stocks, stronger-than-expected growth in industrial production in November 2011 and food inflation remaining in negative terrain for the second week in a row, aided intraday recovery on the domestic bourses. The Sensex lost 138.35 points or 0.86%, up about 75 points from the day's low and off close to 140 points from the day's high. IT bellwether Infosys tumbled more than 8%.
Infosys spooks markets; Sensex ends 138 points lower
It was Infosys’ day as continuous weakness was seen in the technology shares after the IT bellwether announced weak guidance. The Sensex fell 138 points and the Nifty down 30 points
Headlines for the day
IIP turns positive in November
Food inflation at -2.9 vs -3.36%
Infosys cuts FY12 dollar revenue guidance; stock tumbles
HDFC Q3 net profit up by 10%
TTK Prestige plunges after Q3 results
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Indian indices
Infosys was a major culprit today and disappointed the Street as the company reduced its revenue guidance in dollar terms for FY12. Relentless profit booking was seen in the technology shares after Infosys Q3 results, which led the Indian markets to close in the negative zone.
Though industrial output improved significantly in November, it proved to be an non-event for the market.
Sensex Movement: The Sensex opened the trade 59 points lower at 16117 led by losses in Infosys. In the mid-morning session after the release of IIP data, the Sensex recovered and hit an intraday high at 16179. However, weakness in the technology pack pushed the index lower to hit an intraday low of 15963 in the late morning trade. The Sensex closed 138 points lower at 16038 and the Nifty stood at 4831, down by 30 points.
Market sentiment
The market breadth was in favour of advances. Of the 2875 stocks traded on the BSE, 1422 (49.46%) rose, 1310 (45.57%) fell and 143 (4.97%) were unchanged.
Viewing volumes
Integrated infrastructure development company — Lanco Infratech was traded the most, with over 0.69 crore shares changing hands on the BSE. Following that, Wind turbine major - Suzlon Energy (0.53 crore shares), India's second largest developer - Unitech (0.45 crore shares), industrial finance company – IFCI (0.43 crore shares) and India's largest real estate company - HDIL (0.41 crore shares).
Sectoral & stock screening
Among the 13 sectoral indices, four closed lower. Top Gainers - BSE Power up by 1.32%, while BSE Metal and BSE Bankex up by 1.08% each and BSE Auto up by 0.84%. Losers – BSE IT down by 5.96%, BSE TECk down by 4.41% and BSE Oil & Gas down by 0.81%.
Among 'A' group stocks, top three gainers - United Breweries surged by 12.86%, Shree Renuka Sugars advanced by 7.48% and Manappuram Finance up by 7.32%. Top three losers - Infosys dropped by 8.40%, TTK Prestige declined by 7.58% and Coromandel International slipped by 4.54%.
Global Indices:
The European shares were flat on Thursday (January 12, 2012), pausing ahead of a Spanish debt auction that is the first test in the new year of demand for peripheral euro zone debt, the latest stage of a crisis that remains a key drag for equity market sentiment.
The Asian stock markets closed lower on Thursday, amid inflation data in China that failed to meet expectations and fears of a possible recession in Europe. Market participants fretted over key debt auctions in Europe and a European Central Bank meeting this week.
The US stock index futures pointed to a flat to slightly lower open on the Wall Street on Thursday.
Market Outlook
Data releases in the US on Thursday — Jobless Claims, Retail Sales, Business Inventories and Treasury Budget.
Daily News Roundup - Jan 12 2012
State Bank of India has cut the processing fee by half on loans when competitors were contemplating to raise it to offset losses on waiver of pre-payment penalty. (ET)
Reliance Communications, which has a US$925mn convertible bond maturing in March, is in talks with China Development Bank for a loan to redeem the bond. (BS)
Coal India’s new pricing system faces strong opposition from consumers across the country as it has pushed fuel costs up by up to 70% for the small and medium steel and cement industries. (ET)
Parliaments Public Accounts Committee is likely to meet on Thursday on the CAG report on production sharing of contracts with private oil companies, including the one with Reliance Industries Ltd for KG-D6. (BS)
Infosys, IIP and inflation– let the action begin!
Don't tell me how hard you work. Tell me how much you get done. - James Ling.
Markets took a breather after Tuesday’s stellar rally as investors appeared reluctant to commit ahead of the IIP data and Infosys results. The IT major is likely to deliver strong Q3 numbers, partly helped by the Rupee’s steep fall. Investors and analysts will tune into commentary from Infosys honchos for better understanding of the outlook for the coming few quarters. Watch out for Infosys’ revised FY12 guidance.
The start is likely to be quiet at best due to indecisive global cues. While the morning may belong to Infosys, the afternoon will see the markets react to IIP for November. It is expected to rebound from a disastrous October reading. One has to see if there is any upward revision of the October print of -5.1%. Weekly food inflation is also due today. It is likely to stay in the negative zone, mostly owing to the statistical phenomenon called ‘base effect’. more important will be the inflation report for December, which is due on Monday.
Infosys' Q3 results to set the tone; IIP data in focus
IT bellwether Infosys's Q3 results due today, 12 January 2012 will set the tone for the market. IT major is likely to deliver strong Q3 numbers, partly helped by the Rupee's steep fall. Finance major HDFC will also announce Q3 results today. Data on industrial production for November 2011 will also be closely watched. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicated a flat opening. Mostly higher Asian stocks may support domestic markets.
The government will today, 12 January 2012, 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 31 December 2011.
Wednesday, January 11, 2012
BSE Bulk Deals to Watch - Jan 11 2012
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
11/1/2012 511706 Action Fin SHRISH L KENIYA S 50000 25.00
11/1/2012 531560 Aroma Enterprises AASHISH DEVELOPER B 167300 25.30
11/1/2012 531560 Aroma Enterprises SHREE MALLIKARJUN TRAD INVEST PRIVATE LIMITED S 166300 25.30
11/1/2012 509053 Banas Finance NEHA MUNDHRA S 646750 54.93
11/1/2012 501430 Bombay Cycle CHANDULAL VELJI PATEL B 3400 72.90
NSE Bulk Deals to Watch - Jan 11 2012
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
11-JAN-2012,BEDMUTHA,Bedmutha Indust Ltd,PUNAMRAJ CONSTRUWELL PRIVATE LIMITED,BUY,123437,29.68,-
11-JAN-2012,EVERONN,Everonn Education Limited,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,121408,451.25,-
11-JAN-2012,HDIL,Housing Development and I,GENUINE STOCK BROKERS PVT LTD,BUY,2254666,69.46,-
11-JAN-2012,ISFT,Intrasoft Tech. Ltd,GOVERDHAN EXPORTS Ltd.,BUY,100943,53.50,-
Sensex ends flat with +ve bias ahead of Infy results
Markets did not show any major movements on the either side and remained directionless in today's trade, as Investors remained on the sidelines ahead of Infy results
Major Headlines:
Suzlon wins second order in Brazil
Retail cos surge after govt notifies 100% FDI
RBI says no to CRR cut for now
Infosys January 2012 futures at premium
F&O turnover declines
Nifty January 2012 futures were at 4873.40, at a premium of 12.45 points compared to spot closing of 4860.95. Turnover on NSE's futures & options (F&O) segment declined to Rs 86203.25 crore from Rs 107862.87 crore on Tuesday, 10 January 2012.
Infosys January 2012 futures were at 2838.10, at a premium over spot closing of 2818
State Bank of India (SBI) January 2012 futures were at 1726.10, near spot closing of 1724.70
DLF January 2012 futures were at 191.65, near spot closing of 190.55
BSE Small-Cap, Mid-Cap indices outshine Sensex
Key benchmark indices registered small gains to attain their highest level in more than 4-1/2 weeks. The market breadth was strong. The barometer index, BSE Sensex, rose 10.77 points or 0.07%, off close to 70 points from the day's high and up close to 45 points from the day's low. BSE Mid-Cap index and Small-Cap index outperformed the Sensex.
The Sensex has jumped 720.94 points or 4.66% so far in this month. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 3,635.28 points or 18.34%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,040 points or 6.87%.
Daily News Roundup - Jan 11 2012
Maruti Suzuki sees buyers shifting to larger cars, but still lesser than four metres in length. (BL)
Consortium of 26 banks led by SBI, have rejected the debt restructuring proposal of Air India on the ground that plan would hurt profitability and erode capital. (BS)
Novelis Inc, the Canadian subsidiary of Hindalco Industries, has bagged a multi-year aluminum can sheet supply order from Coca-Cola Bottlers' Sales and Services. (BL)
Sensex soars past 16k…Nifty ends @ 4850
Indian markets repeated last Tuesday’s stellar performance today as well with another spectacular rally. After five straight sessions of lackluster show, investors suddenly swung into action with full force. The result was a secular surge in stocks, spurred by a combination of local and external factors. There was no stopping the risk rally today. If anything, the advance only got better and better as the session wore on. The icing on the cake was that the two main indices closed near their session highs with a full flourish.
What was heartening about today’s spurt was that not for a minute did the markets look like losing any steam. As a result, the Indian equity benchmarks managed to blow past important psychological levels. While the NSE Nifty comfortably breached the 4,800 mark the BSE Sensex surpassed 16,100. But, for a second successive session, the broader indices stole the thunder from their Large-Cap peers. The market breadth was extremely favourable today.
Appropriate value!
The excellence of a gift lies in its appropriateness rather than in its value. - CD Warner.
Blindly looking at valuations is no longer valid in choosing stocks. Earnings estimates have already seen deep cuts with the bias remaining on the downside. There appears some hope though that the early January rally may sustain if crucial upcoming events are supportive.
The opening is likely to be more sedate as Asian markets are not exactly firing on all cylinders. US stocks lost some momentum after a gap-up start. European markets did exceedingly well though after Fitch said it is not planning downgrade of French "AAA" rating. China’s better-than-expected trade surplus was also in the play yesterday.
Markets may see a flat start on mixed global cues
The Indian markets are expected to open on a flat note owing to mixed global cues. Investors may trade on a cautious note.
Headlines for the day
Jet Airways says complies with all safety norms.
Kingfisher Airlines ( KFA) seeks government help to avoid disruption.
TVS to introduce three products in 2012.
Indian Oil Corporation ( IOC) launches Rural Mobile Healthcare programme.
Moody's upgrades short-term ceiling on foreign currency.
Bullions shine
Higher crude price and weak dollar help prices go up
Precious metal prices ended higher on Tuesday, 10 January 2012 at Comex. Bullion futures prices ended the U.S. day session stronger and the same was aided by higher crude prices and weak dollar.
Gold for February delivery ended higher by $23.4 or 1.5%, to end at $1,631.5 an ounce on the Comex division of the New York Mercantile Exchange on Tuesday. It traded between a high of $1,641.4 and a low of $1,609.2 earlier during the day. Last week, gold gained 3.2%. For the year 2011, gold rose 10%.
Market may open flat to slightly higher; retail stocks in focus
The market may open flat to slightly higher as most Asian stocks edged higher. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 4 points at the opening bell. The Indian government notifying 100% foreign direct investment (FDI) in single-brand retail may further boost sentiment.
Key benchmark indices surged to attain their highest level in 4-1/2 weeks on Tuesday, 10 January 2012 as firm global stocks boosted sentiment. The market sentiment was also boosted by media reports that state governments in India have given their in-principle approval to a proposed national goods and service tax (GST), raising hopes that the ambitious tax reform could be included in the upcoming budget. The BSE Sensex jumped 350.37 points or 2.22% to settle at 16,165.09, its highest closing level since 9 December 2011.
Tuesday, January 10, 2012
BSE Bulk Deals to Watch - Jan 10 2012
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
10/1/2012 533330 Acropetal Tech INDIA MAX INVESTMENT FUND LIMITED B 1329140 13.50
10/1/2012 533330 Acropetal Tech ORANGE MAURITIUS INVESTMENTS LIMITED S 1329140 13.50
10/1/2012 511706 Action Fin JAYESHA VIKAS PATWA B 50100 25.00
10/1/2012 511706 Action Fin SHRISH L KENIYA S 50000 25.00
10/1/2012 590122 Ashika Credit Cap KHANIJ METAL PRIVATE LIMITED B 36000 57.50
NSE Bulk Deals to Watch - Jan 10 2012
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
10-JAN-2012,AARTIIND,Aarti Industries Ltd.,JAYA CHANDRAKANT GOGRI,BUY,435494,49.00,-
10-JAN-2012,APTECHT,Aptech Limited,BHAVANI PORTFOLIO PRIVATE LTD,BUY,250000,89.98,-
10-JAN-2012,BEDMUTHA,Bedmutha Indust Ltd,MUKESH KHIMCHAND GANDHI,BUY,25000,28.00,-
10-JAN-2012,BEDMUTHA,Bedmutha Indust Ltd,NITIN BABAJI PALANDE,BUY,183195,27.69,-
10-JAN-2012,EVERONN,Everonn Education Limited,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,237166,441.86,-
Sensex soars past 16k …Nifty ends @ 4850
Indian markets repeated last Tuesday’s stellar performance today as well with another spectacular rally. After five straight sessions of lackluster show, investors suddenly swung into action with full force. The result was a secular surge in stocks, spurred by a combination of local and external factors. There was no stopping the risk rally today. If anything, the advance only got better and better as the session wore on. The icing on the cake was that the two main indices closed near their session highs with a full flourish.
What was heartening about today’s spurt was that not for a minute did the markets look like losing any steam. As a result, the Indian equity benchmarks managed to blow past important psychological levels. While the NSE Nifty comfortably breached the 4,800 mark the BSE Sensex surpassed 16,100. But, for a second successive session, the broader indices stole the thunder from their Large-Cap peers. The market breadth was extremely favourable today.
Global rally pushes Sensex 350 points higher
Strong buying across the board amid good global cues took the Sensex and the Nifty above the levels of 16000 and 4800 respectively.
Headlines for the day
Moody's upgrades India's rating to investment grade
Car sales rise 8.5% in December
Indusind Bank gains after Q3 results
Kingfisher Airlines asks aviation minister for financial help
Kiri Industries hits 5% upper circuit on fund raising
Nifty January 2012 futures at premium
Turnover surges
Nifty January 2012 futures were at 4871.65, at a premium of 22.10 points compared to spot closing of 4849.55. Turnover on NSE's futures & options (F&O) segment surged to Rs 107862.87 crore from Rs 83704.76 crore on Monday, 9 January 2012.
State Bank of India (SBI) January 2012 futures were at 1706.30, near spot closing of 1703.50.
Market scales 4-1/2-week high in broad-based rally
Key benchmark indices surged to attain their highest level in 4-1/2 weeks as firm global stocks boosted sentiment. The market sentiment was also boosted by media reports that state governments in India have given their in-principle approval to a proposed national goods and service tax (GST), raising hopes that the ambitious tax reform could be included in the upcoming budget. The barometer index BSE Sensex reclaimed the psychological 16,000 mark. The Sensex jumped 350.37 points or 2.22%, up close to 265 points from the day's low and off about 15 points from the day's high.
The Sensex has jumped 710.17 points or 4.59% so far in this month. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 3,646.05 points or 18.4%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,029.23 points or 6.79%.
Monday, January 09, 2012
Volatile markets end in red
The Indian markets closed the volatile session in the negative terrain, with the Sensex down by 34 points and the Nifty down by 4 points.
Headlines for the day
Sugar companies surge as govt to allow more exports
Fertiliser stocks soar on buzz of subsidy reduction
GMR Infra to collect airport development fees in Maldives; stock soars
Pratibha gains after receiving order worth Rs772 crore
Coal India falls as PIL filed against new pricing in WB
BSE Small-Cap, Mid-Cap indices edge higher
Key benchmark indices registered small losses to reach one-week closing lows on expectations of weak Q3 results. Nonetheless, the market came off intraday lows. The barometer index, BSE Sensex, lost 34.08 points or 0.22%, up about 135 points from the day's low and off close to 55 points from the day's high. Index heavyweight Reliance Industries (RIL) edged lower. Pharma stocks extended recent gains. IT stocks were mixed. Capital goods and realty stocks reversed initial losses. Power stocks gained. The market breadth was strong. The BSE Small-Cap index rose for the eighth day in a row. The BSE Mid-Cap index rose for the second day in a row.
The Sensex has jumped 359.80 points or 2.32% so far in this month. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 3,996.42 points or 20.17%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 678.86 points or 4.48%.
Daily News Roundup - Jan 9 2012
State-run Northern Coalfields has agreed to surrender land required to mine two blocks attached to the Sasan ultra mega power plant to Reliance Power giving company the benefit of over Rs60bn over the life of the venture. (ET)
Sterlite Industries will offer to buy the government’s 49% equity share in group company Balco at a mutually-agreed price outside an earlier call option agreement. (ET)
Finance Ministry may infuse Rs14bn into Indian Overseas Bank to help it maintain Tier-I capital of 8% by March-end 2012. (BL)
Weak trend across Asia; stick to your goals
In the absence of clearly-defined goals, we become strangely loyal to performing daily trivia until ultimately we become enslaved by it. - Robert Heinlein.
It’s just another usual Monday. The weak trend across Asia is set to subdue the opening. Japanese markets are shut today. We may have managed to sail through the first week of 2012 reasonably well but the year itself is likely to be a challenging one especially the first half.
Indian indices were more or less unchanged in Saturday’s special one-and-a-half-hour session. This week is crucial as the Government will announce the latest IIP and inflation data. Also, the Q3 earnings season will kick off in the right earnest. Infosys and HDFC will release their numbers on Thursday.
Markets may open lower on Europe debt concerns
The Indian markets may begin a new week on a negative note led by losses in the Asian region as Europe debt jitters overshadowed signs of vigor in the US economy.
Headlines for the day:
Mundra UMPP's first 800MW unit starts production.
FIIs invest Rs6,500 crore in first week of New Year.
Kingfisher Airlines (KFA) may trim fleet size in difficult times.
NTPC plans to foray into power distribution.
Real estate firms drop overseas plans, to stay grounded in India.
Punjab National Bank (PNB) to rope in Boston Consulting Group for revamping operations.
Gail to replace JP Associates in Sensex from today
Events for the day
Goodwill Hospital & Research Centre IPO closes today
Crude prices end little lower
Better than expected job data keep losses under check
Crude prices ended lower once again on Friday, 06 January 2012 at Nymex. Strong dollar and lingering European debt crisis pushed prices lower. But losses were kept under check following a better than expected job report from the Labor Department on Friday. But prices registered weekly gains.
Light and sweet crude for February delivery fell $0.25 (0.3%) to $101.56 a barrel on the New York Mercantile Exchange on Friday. It rose to a high of $102.8 during intra day trading. For the week, crude gained 2.8%. For the year 2011, crude futures gained 8.2%.
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