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Tuesday, July 31, 2012
Daily News Roundup - July 31 2012
Maruti Suzuki is planning an extensive public relations campaign to reassure potential buyers. Under this, it expects to give some clarity on the situation at Manesar and give a new tentative delivery schedule for cars that have already been booked. (BL) DLF is in advanced stages of negotiation with Lodha Developers to sell its prime land in Mumbai for about Rs.27bn and a deal is expected to be finalised shortly. (BL) Reliance Infrastructure Ltd’s special purpose vehicle, SU Toll Road Pvt Ltd announced that it has completed the Rs.10.61bn 136-km Salem-Ulundurpet road in Tamil Nadu and has commenced collecting toll charges on the road. (BL)
Nifty advances to 5,200…All eyes on RBI policy meet
After a gap up opening, Indian indices continued their rise aided by buying in Power, Capital Goods, Consumer Durables, Banks, and some rate-sensitive sectors such as Realty and Auto. Markets finished near the day’s high levels with the Sensex surging over 300 points and the Nifty crossing the psychological 5,200 mark. The broader 50-stock index also closed at the crucial level. The Nifty has now ended with gains for the second straight trading session and has rebounded by ~170 points after hitting a low of 5032 in previous week. The Mid-Cap and the Small-Cap stocks which were badly beaten down also witnessed some buying momentum. The BSE Small-Cap index closed up 1.3% while the BSE Mid-Cap index ended with gains of 1.5%.
Who will unlock potential?
Continuous effort - not strength or intelligence - is the key to unlocking our potential - Winston Churchill The Reserve Bank of India says the ball is in the Government’s court and wants the centre to provide the impetus and the stimulus to boost investment and revive growth. Calling for aggressive steps, the RBI in its monetary policy review stated that persistent inflation limits the scope for monetary policy to revive growth. We won’t speculate on what the RBI will do in a few hours but there is hardly any room for cheer unless the RBI governor springs a positive surprise for the market. Status quo is the expectation. Monday was a happy day as the Nifty and the Sensex had gained following a widespread rally across sectors including power, realty, capital goods, banks, consumer durables and auto. Outside the market some happiness of course came with the first Olympic medal of the London Games for India.
Bullions end little higher
Prices rise for fourth straight day Yellow metal prices ended little higher on Monday, 30 July 2012 at Comex. Prices rose as traders anticipated that Central banks will take some action in both US and Europe as a step to solve their respective problems. Gold for August delivery ended higher by $0.7 or 0.04%, to end at $1,618 an ounce on the Comex division of the New York Mercantile Exchange on Monday. Prices rose for fourth straight session. On Monday, silver prices for September delivery ended higher by54 cents or 2% at $28.03.
Market may extend recent gains on firm Asian stocks
The market may extend recent gains on firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 18 points at the opening bell. Asian shares were mostly higher on Tuesday ahead of monetary policy meetings by the European Central Bank and the U.S. Federal Reserve, with expectations for more stimulus steps to support fragile global economies. The Reserve Bank of India (RBI) is unlikely to cut its key policy rate viz. the repo rate at first quarter review of the Monetary Policy 2012-13 today, 31 July 2012, to guard against higher inflation as the country faces the possibility of a drought. The RBI unexpectedly left its key lending rate unchanged at its last meeting in June 2012, citing inflationary concerns. RBI has said that fiscal consolidation by the government is critical for interest rates to ease.
Flat start on cards; RBI policy in focus
Indian markets may open on a flat note tracking mixed global cues. SGX Nifty is also trading 11 points higher. Events for the day: First quarter review of monetary policy 2012-13. Results: Bhushan Steel, Cipla, Jaiprakash Associates, Ipca Laboratories, IDBI Bank, Hexaware Technologies, Gujarat Mineral Development Corporation, Gujarat Fluorochemicals, Titan Industries, Petronet LNG.
Monday, July 30, 2012
Daily News Roundup - July 30 2012
Reliance puts on hold investments in exploration as Govt delays approvals. (BL) Cairn India plans to spend over US$600 mn over the next two years to further enhance output from its Rajasthan oilfields. (BL) Ashok Leyland will be sewing up at least three overseas joint ventures in the next two to three months, as it looks to consolidate its presence in new geographies. (BL) Suzlon has redeemed in cash the two June series of foreign currency convertible bonds (FCCBs) totally valued at US$360 mn. (BL)
Sensex ends off day’s high…Broader market, PSBs fall
The Indian stock indices ended with smart gains after slipping late in Thursday's session due to F&O expiry. However, the main Indian stock indices came off their session highs in the afternoon trade due to choppiness in the European markets. Today’s gap-up opening and early rally was triggered by favourable comments from ECB president Mario Draghi, who on Thursday pledged support for the common euro currency amid growing worries about the European credit crisis and its impact on the global economy. Draghi's remarks have set off speculation about fresh monetary easing measures from the ECB, including another round of LTRO. A couple of positive economic data out of the US also helped lift the glum mood across world markets. The NSE Nifty, which had closed below the 200 DMA in the previous trading session, managed to end above the critical technical barrier. After a gap up opening, the Indian markets gained further ground before dropping below the 100-DMA level of 5,150.
Speculation on central bankers
"Speculation is only a word covering the making of money out of the manipulation of prices, instead of supplying goods and services" - Henry Ford It’s speculation time this week on what central bankers will do. The Reserve Bank of India will hold its monetary policy review meeting tomorrow. On Wednesday, the US Fed's open market committee will meet while on Thursday the European Central Bank's rate and monetary policy meeting will take place. High inflation, rising fiscal deficit and monsoon worries could well hold back the RBI from cutting rates. The rainfall from June 1 to July 25 was reportedly 22% below normal. Expectations are the monsoon will strengthen during the first week of August.
Markets to stay in green on global support
Indian markets expect a positive start backed by strong global cues. SGX Nifty is also trading 31 points Events for the day: Major companies reporting results today — Allahabad Bank, Bharat Electronics limited, Bank of Baroda, Corporation Bank, GAIL, Havells India, Indian Overseas Bank, Oriental Bank of Commerce, Syndicate Bank.
Markets to stay in green on global support
Indian markets expect a positive start backed by strong global cues. SGX Nifty is also trading 31 points Events for the day: Major companies reporting results today — Allahabad Bank, Bharat Electronics limited, Bank of Baroda, Corporation Bank, GAIL, Havells India, Indian Overseas Bank, Oriental Bank of Commerce, Syndicate Bank.
Crude gains following comments from European leaders
Prices register weekly losses though Crude oil futures extended gains on Friday, 27 July 2012 at Nymex spurred by optimism about the euro zone as two heads of state pledged to save the single currency. Light and sweet crude for September delivery rose 74 cents, or 0.8%, to settle at $90.13 a barrel on the New York Mercantile Exchange. Prices earlier seesawed between small gains and losses as investors were disappointed with data on the U.S. economy. On the week, however, oil lost 1.3%.
Bullions rise for third straight day
Prices register small weekly gains too Bullion metal prices rose on Friday, 27 July 2012 at Comex extending gains for third straight day after France and Germany pledged to support for the euro, pressuring the U.S. dollar. Prices have incresaed this week boosted by comments from European Central Bank officials. Gold for August delivery rose $2.90, or 0.2%, to settle at $1,618 an ounce on the Comex division of the New York Mercantile Exchange on Friday. For the week, gold gained 2.2%. Prices moved well off highs, however, as the session progressed. Gold earlier traded as high as $1,628.60 an ounce.
Market may edge higher in early trade on firm Asian stocks
The market may edge higher in early trade on firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 31 points at the opening bell. Asian stocks rose for a third day on Monday, 30 July 2012 led by financial firms, on optimism European policy makers will support the euro. Investors will scrutinize the macro economic report to be released by the central bank at 17:00 IST today, 30 July 2012, on the eve of Tuesdays' (31 July 2012) monetary policy review. Among corporate news, Bank of Baroda and GAIL (India) unveil Q1 results today, 30 July 2012.
Sunday, July 29, 2012
Saturday, July 28, 2012
All eyes on RBI's monetary policy review
Next batch of first quarter corporate earnings, the Reserve Bank of India's (RBI) monetary policy review, progress of the monsoon rains and monetary policy review by US Federal Reserve will dictate near term trend on the bourses. Automobile and cement stocks will be focus as companies from these two sector start unveil monthly sales volume data for July 2012 from Wednesday, 1 August 2012. Investors' focus is currently on Q1 June 2012 earnings. Bank of Baroda and GAIL (India) unveil Q1 results on Monday, 30 July 2012. Jaiprakash Associates and Cipla unveil Q1 results on Tuesday, 31 July 2012.
BSE Small-Cap, Mid-Cap indices slump
The market tumbled for the third consecutive week as stocks fell across the globe on renewed concerns over debt problems in Spain and Greece. The domestic market also fell on concerns over deficient monsoon and delay in key economic reforms in India. The BSE Sensex declined 319.25 points or 1.86% to 16,839.19. The 50-unit S&P CNX Nifty fell 105.25 points or 2.02% to settle at 5,099.85. The BSE Mid-Cap index slumped 4.80% and the BSE Small Cap index slumped 4.76%. Both these indices underperformed the Sensex.
Rising bad loans rattle PSU bank stocks
Key benchmark indices snapped two-day losing streak as euro zone debt worries eased after European Central Bank (ECB) President Mario Draghi on Thursday, 26 July 2012, said the ECB will do whatever is necessary to protect the euro zone from collapse, raising hopes for action to ease strains for highly indebted euro zone member states facing pressures to seek a bailout. The barometer index, BSE Sensex, jumped 199.37 points or 1.2%, off about 135 points from the day's high and up close to 80 points from the day's low. But, a number of small-cap and mid-cap stocks fell. The market breadth was weak. BSE Mid-Cap and Small-Cap index were both in red, underperforming the Sensex.
Friday, July 27, 2012
Crude moves up
Positive economic data and ECB's comments fuel prices higher Crude prices ended higher on Thursday, 26 July 2012 at Nymex. Prices rose as the European Central Bank signaled its intention to preserve the euro. Earlier this morning, President Mario Draghi made supportive comments, which resulted in a spike in the euro, commodities and equity markets around the world. Draghi's comments came as the market is also anticipating further stimulus in the U.S. and China. Better than expected economic data at Wall Street also pushed up prices. Light and sweet crude for September delivery rose $0.42 (0.5%) to $8.39 a barrel on the New York Mercantile Exchange on Thursday.
Market opens on a firm note as euro zone debt worries recede
Key benchmark indices surged in early trade as euro zone debt worries eased after European Central Bank (ECB) President Mario Draghi on Thursday, 26 July 2012, said that the ECB will do whatever it takes to preserve the euro. The market breadth was strong. All the 13 sectoral indices on BSE were in the green. The barometer index, BSE Sensex, was up 247.49 points or 1.49%. Index heavyweight and cigarette maker ITC edged higher in early trade after the company reported strong Q1 results during trading hours on Thursday, 26 July 2012. Another index heavyweight Reliance Industries (RIL) also edged higher. Cement major ACC gained after strong Q2 results. Sterlite Industries (India) shrugged off weak Q1 results. India's largest private sector bank by net profit ICICI Bank surged ahead of its Q1 results today, 27 July 2012.
BSE Small-Cap, Mid-Cap indices off over 2% each
Key benchmark indices fell for the second straight day and reached their lowest closing level in more than seven weeks on concerns arising from erratic monsoon rains this year. The market sentiment was also hit adversely after data showed selling of Indian stocks by foreign funds on Wednesday, 25 July 2012. The barometer index, BSE Sensex, was down 206.23 points or 1.22%, up close to 40 points from the day's low and off about 260 points from the day's high. The market breadth was weak. All the 13 sectoral indices on BSE were in the red. A number of small-cap and mid-cap stocks fell. BSE Small-Cap and Mid-Cap indices lost more than 2% each. From a recent high of 16,918.08 on 24 July 212, the Sensex has declined 278.26 points or 1.64% in two trading sessions. The Sensex has lost 790.16 points or 4.53% in this month so far (till 26 July 2012). The Sensex has jumped 1,184.90 points or 7.66% in calendar 2012 so far (till 26 July 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,503.96 points or 9.93%. From a 52-week high of 18,523.78 on 22 February 2012, the Sensex has lost 1,883.96 points or 10.17%.
Thursday, July 26, 2012
PM makes no difference to Economy
Nobody needs to teach Prime Minister Manmohan Singh the importance of numbers in matters related to the economy. He has been an economist for a major part of his life. Definitely, he also knows how important the numbers are in politics. It is an unhealthy combination of both that has put him in a Catch 22. A report in The Economic Times says the Congress may not have the required numbers to push through a diesel price increase in the monsoon session of Parliament.
Wednesday, July 25, 2012
Where have all the retail gone?
Retail investors' participation in the equity cash market is at a seven-year low, with more and more savings finding their way to properties, gold, risk-free avenues like bank deposits and high-yield debt instruments. The daily average volume of retail turnover is down to Rs 6,690 crore in 2012 - the lowest since 2005 and a 51% drop from the peak of Rs 13,709 crore in 2009. The daily average volume generated by retail investors was Rs 10,882 crore in 2010 and Rs 6,690 crore in 2011.
NSE Bulk Deals to Watch - July 25 2012
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks 25-JUL-2012,ADVANTA,Advanta India Limited,ITF MAURITIUS,BUY,676025,475.37,- 25-JUL-2012,AKZOINDIA,Akzo Nobel India Limited,ICICI SECURITIES LIMITED,BUY,870000,919.99,- 25-JUL-2012,HDIL,Housing Development and I,GENUINE STOCK BROKERS PVT LTD,BUY,2124627,72.73,- 25-JUL-2012,HOTELRUGBY,Hotel Rugby Ltd.,SAVITRIDEVI JAIPRAKASH AGARWAL,BUY,113305,14.02,- 25-JUL-2012,IMPAL,India Motor Parts and Acc,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,28961,872.36,- 25-JUL-2012,IMPAL,India Motor Parts and Acc,MULTIPLEX CAPITAL LTD.,BUY,22421,884.45,- 25-JUL-2012,LITL,Lanco Infratech Limited,SUNTECK WEALTHMAX CAPITAL PRIVATE LIMITED,BUY,21588795,13.03,- 25-JUL-2012,SAKSOFT,Saksoft Limited,ASHROJ CREDIT INDIA PRIVATE LIMITED,BUY,140000,69.99,- 25-JUL-2012,SIMBHSUGAR,Simbhaoli Sugars Limited,INDIA MAX INVESTMENT FUND LTD,BUY,200000,33.05,- 25-JUL-2012,VKSPL,VKS Projects Limited,DECENT FIN. SER. (P) LTD,BUY,151000,55.00,- 25-JUL-2012,AANJANEYA,Aanjaneya Lifecare Ltd,FINAVENTURE CAPITAL LIMITED,SELL,77000,522.30,- 25-JUL-2012,ADVANTA,Advanta India Limited,ACACIA BANYAN PARTNERS,SELL,102000,475.00,- 25-JUL-2012,ADVANTA,Advanta India Limited,ACACIA CONSERVATION FUND LP,SELL,169000,475.00,- 25-JUL-2012,ADVANTA,Advanta India Limited,ACACIA INSTITUTIONAL PARTNERS LP,SELL,147000,475.00,- 25-JUL-2012,ADVANTA,Advanta India Limited,ACACIA PARTNERS L.P,SELL,233525,475.00,- 25-JUL-2012,ADVANTA,Advanta India Limited,ACACIA II PARTNERS L.P,SELL,12000,475.00,- 25-JUL-2012,AKZOINDIA,Akzo Nobel India Limited,ICICI PRUDENTIAL LIFE INSURANCE COMPANY LTD.,SELL,600000,920.00,- 25-JUL-2012,HDIL,Housing Development and I,GENUINE STOCK BROKERS PVT LTD,SELL,2124627,72.78,- 25-JUL-2012,HOTELRUGBY,Hotel Rugby Ltd.,SAVITRIDEVI JAIPRAKASH AGARWAL,SELL,88261,13.70,- 25-JUL-2012,IMPAL,India Motor Parts and Acc,CROSSEAS CAPITAL SERVICES PVT. LTD.,SELL,28961,876.24,- 25-JUL-2012,IMPAL,India Motor Parts and Acc,MULTIPLEX CAPITAL LTD.,SELL,22421,885.33,- 25-JUL-2012,LITL,Lanco Infratech Limited,SUNTECK WEALTHMAX CAPITAL PRIVATE LIMITED,SELL,21280698,13.04,- 25-JUL-2012,SIMBHSUGAR,Simbhaoli Sugars Limited,PEARL INNOVATIVE MARKETING PRIVATE LIMITED,SELL,150000,33.05,-
BSE Bulk Deals to Watch - July 25 2012
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price ** 25/7/2012 590116 7SEAS TECH MEENU JAINBHANSHALI S 47405 36.13 25/7/2012 526347 ACCLAIM IND SANTOSH RANGA B 35000 34.00 25/7/2012 526347 ACCLAIM IND KRUSHNAKUMAR GURUVACHAN BRAHMBHATT B 25000 32.83 25/7/2012 526347 ACCLAIM IND CEEPLAST TRADING COMPANY PRIVATE LIMITED B 25000 34.00
Markets end in red ahead of F&O expiry
The Indian markets closed today's trade in the red zone led by selling pressure across the board. The Sensex shut shop 72 points lower and the Nifty fell 19 points. Major Headlines of the Day: HCL Technologies Q4: Beats the street, positive surprise on margins Disappointing Q1 numbers for Torrent Power; stk down 51-stocks to be removed from F&O: NSE Metal index the top loser in sectoral pack Fuel prices may get marginally cheaper in 11 states
Nifty August 2012 futures at premium
Turnover surges Nifty August futures were at 5141.85, at a premium of 32.25 points over spot closing of 5109.60. Nifty July futures were at 5116, at a premium of 6.40 points over spot closing. Turnover on NSE's futures & options (F&O) segment jumped to Rs 181966.47 crore from Rs 151384.66 crore on Tuesday, 24 July 2012. State Bank of India (SBI) July 2012 futures were at 2074.10, at a premium over spot closing of 2067.05. L&T July 2012 futures were at 1343.55, near spot closing of 1341.50. Infosys July 2012 futures were at 2167.25, near spot closing of 2165.25. In the cash market, the S&P CNX Nifty fell 18.60 points or 0.36% to settle at 5,109.60, its lowest closing level since 19 June 2012. The July 2012 derivatives contracts expire tomorrow, 26 July 2012.
Nifty August 2012 futures at premium
Turnover surges Nifty August futures were at 5141.85, at a premium of 32.25 points over spot closing of 5109.60. Nifty July futures were at 5116, at a premium of 6.40 points over spot closing. Turnover on NSE's futures & options (F&O) segment jumped to Rs 181966.47 crore from Rs 151384.66 crore on Tuesday, 24 July 2012. State Bank of India (SBI) July 2012 futures were at 2074.10, at a premium over spot closing of 2067.05. L&T July 2012 futures were at 1343.55, near spot closing of 1341.50. Infosys July 2012 futures were at 2167.25, near spot closing of 2165.25. In the cash market, the S&P CNX Nifty fell 18.60 points or 0.36% to settle at 5,109.60, its lowest closing level since 19 June 2012. The July 2012 derivatives contracts expire tomorrow, 26 July 2012.
PSU OMCs slide on fading fuel price hike hopes
Key benchmark indices edged lower to hit their lowest closing level in more than five weeks after provisional data showed that foreign funds pressed sales of Indian stocks on Tuesday, 24 July 2012. The market breadth was weak. The barometer index, BSE Sensex, was down 72.03 points or 0.43%, up about 110 points from the day's low and off close to 50 points from the day's high. Index heavyweight Reliance Industries (RIL) edged lower in volatile trade. Another index heavyweight and cigarette maker ITC edged higher ahead of its Q1 results tomorrow, 26 July 2012. PSU OMCs declined on reports the government is unlikely to raise prices of diesel, cooking gas and kerosene in the near future for fear of opposition across the political spectrum. The Sensex has lost 583.93 points or 3.35% in this month so far (till 25 July 2012). The Sensex has jumped 1,391.13 points or 9% in calendar 2012 so far (till 25 July 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,710.19 points or 11.29%. From a 52-week high of 18,944.60 on 26 July 2011, the Sensex has lost 2,098.55 points or 11.07%.
BSE Bulk Deals to Watch - July 24 2012
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price ** 24/7/2012 531686 Advik Lab SAMPARK SECURITIES PRIVATE LIMITED B 65234 7.85 24/7/2012 531686 Advik Lab SNEHALATHA SINGHI S 100000 7.92 24/7/2012 531519 Ankush Finstock RAJEEV RAJKUMAR NIROOLA S 40000 14.40 24/7/2012 509011 CHISEL COMFORT INTECH LIMITED S 11087 8.62 24/7/2012 511243 CHOLAFIN MORGAN STANLEY ASIA (SINGAPORE) PTE B 2019915 200.00
Sensex ekes out slim gains…HUL surges, Wipro slips
After witnessing its sharpest decline in the past two months on Monday, the Indian equity markets were back into consolidation mode. The BSE Sensex and the NSE Nifty just about managed to eke out slim gains on the back of sustained strength in index heavyweight Hindustan Unilever, which hit a lifetime high in trade today. However, gains were limited amid lingering worries over the eurozone debt crisis and the Government's ability to push through pending reforms amid stiff opposition to various proposed measures. The Indian markets showed resilience despite weakness in the US and other global markets. Key indices ended with a positive bias despite rupee depreciating to its lowest against the US dollar this month. The euro and other global risk assets remained under pressure after Moody's downgraded Germany's sovereign outlook to negative.
Market pulls down shutters with no major action; listless trade ends
The Indian indices shut shop in trade today marginally higher amid rangebound trade. The Sensex closed near the day's high, rising 42 points to 16918 while the Nifty gained 10 points to settle at 5128. Major Headlines Wipro Q1 results below expectation, guidance disappoints HUL Q1 results ahead of expectations Lupin Q1 cons net profit jumps 33% (QoQ) LIC Housing Q1 net profit declines Petrol price hiked by 70 paise per litre
HUL vaults 7.5% after bumper Q1 results
Key benchmark indices edged higher, with data showing that foreign funds remained buyers of Indian stocks on Monday, 23 July 2012, boosting sentiment. The market snapped two-day losing streak. The barometer index, BSE Sensex, advanced 40.73 points or 0.24%, off close to 45 points from the day's high and up about 80 points from the day's low. The market breadth was negative. The Sensex had declined 401.50 points or 2.32% in two trading sessions to settle at 16,877.35 on Monday, 23 July 2012, from a recent high of 17,278.85 on 19 July 2012. The Sensex has lost 511.90 points or 2.93% in this month so far (till 24 July 2012). The Sensex has jumped 1,463.16 points or 9.46% in calendar 2012 so far (till 24 July 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,782.22 points or 11.77%. From a 52-week high of 18,944.60 on 26 July 2011, the Sensex has lost 2,026.52 points or 10.69%.
Tuesday, July 24, 2012
Daily News Roundup - July 24 2012
Essar Oil has tied up a new credit facility from domestic banks to provide a credit line of up to Rs50bn to meet its sales tax liability of Rs61.69bn to the Gujarat government. (ET) Genpact said its master services agreement with financial services major Wells Fargo, to provide business process management services, has been extended through December 2017. (ET) Construction work at JSPL’s steel and power project in Odisha was partially hit Monday as many workers kept away from work and villagers demanded more compensation for loss of land. (ET)
Sensex sinks on global selloff...Nifty holds 200DMA
The F&O expiry week started off on a very negative note, with the NSE Nifty index closing almost near a day’s low. Today’s decline could be attributed to a sell-off across global equity markets. Markets opened gap down, tracking weakness in the Asian markets amid concern about Spain’s worsening fiscal health and fresh trouble for Greece. All-round selling in scrips across sectors dragged the BSE Sensex below the 17000 mark. However, the Nifty just about managed to end above 5100, which is also the 200DMA for the index. The Sensex ended at 16,877, down by 281 points, or 1.65% from the previous close. It had earlier touched a day’s low of 16,849 after opening at day's low of 17,047.
Tension continues
Tension is who you think you should be. Relaxation is who you are. ~Chinese Proverb. Tension across world markets has escalated in the last couple of sessions amid mounting concerns about the financial health of Spain.Sovereign bond yields in Spain soared to new euro area record while stocks across Europe got pummeled. A ban on short selling saw markets in Spain and Italy recover smartly. US stock indices also closed off session lows. Meanwhile, Moody’s has cut credit outlooks for Germany, the Netherlands and Luxembourg. Greece too is back in the spotlight amid reports it may not get international aid if it doesn’t comply with planned budget reforms.
Market may open flat to slightly higher
Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 8.50 points at the opening bell. The market may remain volatile this week as traders roll over positions from the near-month July 2012 series to August 2012 series. The July 2012 derivatives contracts expire on Thursday, 26 July 2012. Asia stocks markets fell Tuesday, following sizeable losses on Wall Street on Monday as fresh worries about Europe took a fresh slug at investor confidence Among corporate news, Hindustan Unilever announced after market hours on Monday that net profit rose 112.25% to Rs 1331.19 crore on 16.98% rise in total income to Rs 6597.38 crore in Q1 June 2012 over Q1 June 2011.
Mkts to open trade in red continuing yesterdays negative trend
The Indian markets may begin the trade on a lower note led by negative global peers. SGX Nifty is trading 12 points higher. Events for the day: Results: Ashok Leyland, Canara Bank, Container Corporation Of India, Ing Vysya Bank, Jindal Steel & Power, LIC Housing Finance, Lupin, Pidilite Industries, Sesa Goa, Torrent Power, Wipro, Shriram Transport Finance Co.
Sensex ends below 17k on weak rupee, global woes
The Indian markets had a tough ride today owing to Spain woes, sharp fall in rupee and road block to FDI in retail. The Sensex took a 281 points hit while the Nifty fell 87 points in trade today. Major Headlines of the Day: L&T hits weekly low after Q1 numbers Dabur India gains after posting Q1 numbers Crompton Greaves slides over 8% on margin concerns Debate on airwaves' reserve price still a spoilsport for telecom stocks Opposition denies FDI in multi-brand Rcom slips after Singapore IPO put on hold
Market hits 4-week low; breadth weak
Key benchmark indices fell for the second straight trading session to hit their lowest level in four weeks as stocks fell across the globe on renewed concerns over debt problems in Spain and Greece. The market breadth was weak. All the 13 sectoral indices on BSE were in the red. The barometer index, BSE Sensex, shed 281.09 points or 1.64%, off close to 170 points from the day's high and up about 30 points from the day's low. From a recent high of 17,278.85 on 19 July 2012, the Sensex has declined 401.50 points or 2.32% in two trading sessions. The Sensex has lost 552.63 points or 3.17% in this month so far (till 23 July 2012). The Sensex has jumped 1,422.43 points or 9.2% in calendar 2012 so far (till 23 July 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,741.49 points or 11.5%. From a 52-week high of 18,944.60 on 26 July 2011, the Sensex has lost 2,067.25 points or 10.91%.
Friday, July 20, 2012
Modest moments
The undertone is cautious yet a tad optimistic as investors examine corporate results and await announcements on pending reforms. FII flows have stayed positive this month. Be modest! It is the kind of pride least likely to offend. - Jules Renard. Indian markets have managed to rise modestly in the past three sessions amid a drop in volatility. The undertone is cautious yet a tad optimistic as investors examine corporate results and await announcements on pending reforms. FII flows have stayed positive this month. Monsoon deficit, sticky inflation and high twin deficits are among the negatives. The opening is likely to be slightly tepid as Asian markets are mixed this morning.
Market seen opening slightly lower; RIL result eyed
Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 8.50 points at the opening bell. Reliance Industries and Asian Paints unveil Q1 results today, 20 July 2012. The Central Statistics Office (CSO) will announce data on consumer price index (agricultural labourers/rural labourers) for June 2012 tomorrow, 20 July 2012. Asian stocks were mostly lower on Friday as weaker employment data in the US spoiled sentiment. In corporate news, Reliance Exploration and Production DMCC, a wholly owned subsidiary of Reliance Industries (RIL) has completed the transaction for divestment of its 80% working interest and operatorship in the production sharing contracts (PSCs) for the Rovi and Sarta Blocks in the Kurdistan Region to subsidiaries of Chevron Corporation.
Flat opening on cards; RIL nos eyed
Indian markets may open on a flat to negative note tracking mixed Asian cues. SGX Nifty is trading 6 points lower Events for the day: Results: Results: Asian Paints, Crompton Greaves, Hind Zinc, IB Financial Services, JSW Energy, Ultratech Cement, United Phosphorus, Zee Entertainment Enterprises.
Thursday, July 19, 2012
Decontrol of LPG and Diesel
The government is close to taking a decision on capping the number of subsidised LPG cylinders to “economically not weaker” sections to bring down the subsidies by up to Rs 10,000 crore annually, Minister of State for Petroleum and Natural Gas RPN Singh said today. The government is also looking at partial decontrol of diesel, he said. Singh said the government gives Rs 36,000 crore in subsidy on LPG and a lot of people who are “not economically weaker sections” and don’t require them, take benefit, adding, the government is looking at reducing the subsidy on LPG by capping the amount (number) of cylinders given on subsidy.
Why did CLSA upgrade Coal India?
Shares in Coal India rose 1.7 percent to Rs 360.20 after CLSA upgraded the stock to “outperform” from “underperform” and raises its target price to Rs 390 from Rs 340. CLSA said production has improved “substantially” in the April-June quarter and sees a “high” probability that fiscal 2012/13 targets will be met.
Daily News Roundup - July 19 2012
One person was killed and at least 90 were injured in a clash between workers and the managerial staff at Maruti Suzuki India’s Manesar plant, forcing stoppage of work. (BS) ONGC Videsh Ltd will team up with Petronet LNG and Indian Oil Corporation to bid for up to 20% stake in Russia’s Novatek LNG project. (BS) CRH Plc, Irish building materials group, has entered the fray to buy Jaiprakash Associates' cement plants in Gujarat and Andhra Pradesh, after the company's discussions with the AV Birla Group got stuck due to differences over valuation and other issues. (ET)
A little better
The human tendency to regard little things as important has produced very many great things.- Georg Christoph Lichtenberg. A little better morning is in store after the main Indian stock indices snapped a five-day losing streak on Wednesday. Global cues are pretty good and this could bring some gains at least early on in today’s session. Asian markets are mostly higher this morning. US equity benchmarks closed up as well, spurred by encouraging technology results and positive data on the housing sector. US housing starts jumped in June to the highest level in four years.
Markets expect a strong start on global support
Indian markets are set to begin on a positive note led by positive global cues. SGX Nifty is trading 52.50 points higher. Events for the day: Results: Dish TV India, Dr. Reddy's Laboratories, Hero Motocorp, Kotak Mahindra Bank, L&T Finance Holdings. Headlines for the day: TDSAT sets aside Rs50 cr penalty on telcos over SIM card issue. Violence at Maruti's Manesar plant, production affected. MTNL employees plan indefinite protest from Jul 24. Corporation Bank to seek more time to pare bulk deposits.
Market opens firm on positive Asian stocks; Maruti Suzuki slumps
The key benchmark indices open on a firm note on higher Asian stocks. The BSE Sensex was up 112.27 points or 0.65%. The market breadth was strong. Index heavyweights Reliance Industries (RIL) and ITC gained in early trade. India's largest car maker by sales Maruti Suzuki India lost close to 5% after the company stopped production at its Manesar, Haryana factory on Wednesday, 18 July 2012, after workers attacked managers at the plant and set fire to company property. Telecom stocks were mostly higher. Asian stocks rose on Thursday after strong US housing data overnight and after broadly reassuring comments from Federal Reserve Chairman Ben Bernanke in his second day of testimony to Congress on Wednesday, 18 July 2012.
Wednesday, July 18, 2012
BSE Bulk Deals to Watch - July 18 2012
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price ** 18/7/2012 530027 Aadi Inds NADIM AHMAD SIDDIQUE B 67200 4.46 18/7/2012 530027 Aadi Inds MANSI RUSHABH SHAH S 76376 4.46 18/7/2012 524448 Ahlcon Par GLOBE CAPITAL MARKET LIMITED S 51430 435.77 18/7/2012 534535 BIOGRPAPER RAJESH VIJAYVARGIYA B 46293 7.33 18/7/2012 531458 BOSTON BIO MAHENDRA RAMNIKLAL SANGHAVI B 50000 3.90 18/7/2012 531458 BOSTON BIO RUDOLF MAELZER B 64000 3.90 18/7/2012 531458 BOSTON BIO HEMA GOVINDBHAI PATEL S 500000 3.90
Mkts play volatile innings; Sensex closes trade with smart gains!
The Indian markets emerged from a gloomy session of the opening bell and shut shop with smart gains. The Sensex rose 80 points while the Nifty surged 23 points in trade today. Major Headlines of the Day: Reliance MediaWorks plans to raise fund June consumer inflation at 10.02% Y-o-Y Bajaj Auto Q1 FY13 results flash: Disappointed on margins Sanwaria Agro jumps after posting Q1 results Decision on reserved spectrum price deferred
Pantaloon Retail (India) leads gainers in 'A' group
Financial Technologies (India), Tata Communications, Century Textiles & Industries and GMR Infrastructure are among the other gainers. Organised retailer Pantaloon Retail (India) jumped 6.83% to Rs 186.85. The stock topped the gainers in the BSE's 'A' group. The government is planning to persuade the chief ministers of individual states to back the entry of foreign supermarket chains, Commerce and Industry minister Anand Sharma said in an interview to a news agency on Tuesday, 17 July 2012. Mr. Sharma said chief ministers of at least eight out of 28 states had publicly declared their support for the policy. The main opposition Bharatiya Janata Party is staunchly opposed.
Aviation stocks, retailers advance on reform hopes
Key benchmark indices edged higher on expectations that the government will kick-start economic reforms after the upcoming presidential election. The barometer index, BSE Sensex, jumped 79.71 points or 0.47%, up 146.42 points from the day's low and off 20.25 points from the day's high. The market breadth turned positive from negative in late trade. Data showing sustained buying of Indian stocks by foreign funds this month and gains in European shares underpinned sentiment. Auto stocks reversed intraday losses as data released early this week showed the rate of growth in inflation based on the wholesale price index slowed in June 2012. India's second largest motorcycle maker by sales Bajaj Auto surged over 5% after the company said at the time of announcement of Q1 June 2012 results it has undertaken proactive measures like rationalizing the end-user cost of vehicles in Sri Lanka and with these measures the company expects normalcy in exports to resume by end of Q2 September 2012.
Infosys Stock Concerns
Infosys sank to its 52- week low on Monday, raising concerns about not only the company’s performance but the sector as a whole.The stock hit a yearly low of Rs 2,164 on the BSE before pulling back to Rs 2,172.60, a loss of Rs 55.20, at the close. Infosys shares have corrected by almost 10 percent since July 12 after the company announced its first quarter numbers and cut its FY13 dollar revenue guidance growth to five percent from the earlier eight-10 percent
Daily News Roundup - July 18 2012
Reliance Industries and its partner BP said that KGD6 might stop production in 2015 if the government did not approve its long-pending investment proposals and revised capital expenditure plans. (BS) Jindal Steel Bolivia Ltd, a subsidiary of JSPL, terminated the contract signed with the Bolivian government for an investment of US$2.1bn for the El Mutun mines. The company cited "non-fulfilment of contract conditions by the Bolivian government" for the action. (BS) RIL-owned Infotel Broadband, which has so far been focused on data transfer, is likely to bid aggressively in category A circles. (ET) NTPC has proposed to import 16mn tons of coal this fiscal up from 12mn tons last fiscal to meet its requirements. (BL)
Sensex ends static…Broader market falls; VIX slips
The NSE Nifty has now closed in the red for the past five trading sessions. Also, this was the third consecutive occasion when the Nifty opened with a positive gap but closed lower after failing to capitalize on the early gains. Markets erased early morning gains and were on a constant declining trend throughout the day, as investors remained cautious amid cloudy outlook for monsoon and its impact on the sluggish Indian economy. In addition, the enthusiasm over a possible rate cut has been dampened after the RBI Governor said that inflation remains beyond the central bank's comfort levels. Investors seem to be taking a breather of sorts after lifting the Nifty to 5300 recently on optimism about reforms under the stewardship of Dr. Manmohan Singh.
Less suffering, less enjoyment
The happiest is the person who suffers the least pain; the most miserable who enjoys the least pleasure. – Rousseau. There is hardly any pleasure left in the market for the time being as market participants digest the latest quarterly earnings amid persistent worries about the murky macro-economic situation. The opening is likely to be a sedate one amid mixed global cues. Watch out for the consumer price inflation for June and Bajaj Auto results. Asian markets are indecisive, with the Hang Seng among the big losers so far. Japanese indices are trading modestly higher. US markets advanced as encouraging earnings from Coca-Cola and Goldman Sachs offset disappointment over Fed chairman Ben Bernanke’s comments.
Markets may open flat
Indian markets are set to begin on a flat note led by mixed global cues. SGX Nifty is trading 1 point higher. Events for the day: Results: Bajaj Auto, Crisil, Bajaj Holdings & Investment. Headlines for the day: Jyothy Laboratories issues bonus shares. Uttam Sugar promoter to sell nearly 8 lakh shares. RIL, BP warn govt of KG-D6 closure in absence of funds. TRAI open to discussions on ad time limits in TV channels. Two-day bank employees strike from July 25. <1--more--> Indian Indices: Today, the opening on Dalal Street is expected to be on a flat note tracking mixed global cues. SGX Nifty is trading 1 point higher. VKS Projects will list its equity shares on exchanges today. The issue price has fixed at lower end of price band of Rs55-60 a share. The Company is engaged in the business of undertaking EPC contracts of CS/SS/alloy steel turnkey piping, civil land development, industrial / commercial infra projects, structural fabrication and erection of equipments, fire fighting projects and commissioning of chemical plants. Major companies reporting results today — Bajaj Auto, Crisil, Bajaj Holdings & Investment. On Tuesday (July 17, 2012), the Sensex settled at 17105, up by 1.99 points while the Nifty closed at 5192, slipping by 4.40 points. Global Indices: Asian stock markets edged higher on Wednesday (July 18, 2012) on hopes that the US central bank has left the door open for more stimulus measures later in the year, after chairman Ben Bernanke outlined a gloomy view of the US economic recovery. European shares turned negative on Tuesday (July 17, 2012) after the U.S. Federal Reserve Chairman Ben Bernanke offered few new clues about another round of stimulus measures to support the economy. US stocks surged, erasing earlier losses on Tuesday, as Federal Reserve Chairman Ben S. Bernanke told senators the central bank is prepared to act to boost growth if the labor market doesn’t improve. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs355.80 crore on July 16, 2012. The domestic investors bought Indian shares worth a net of Rs10.60 crore on July 16, 2012. The data is as per the SEBI website. Commodity Cues: Oil hovered on Tuesday amid hopes China and the US will take new steps to bolster their economies.
Markets may open flat
Indian markets are set to begin on a flat note led by mixed global cues. SGX Nifty is trading 1 point higher. Events for the day: Results: Bajaj Auto, Crisil, Bajaj Holdings & Investment. Headlines for the day: Jyothy Laboratories issues bonus shares. Uttam Sugar promoter to sell nearly 8 lakh shares. RIL, BP warn govt of KG-D6 closure in absence of funds. TRAI open to discussions on ad time limits in TV channels. Two-day bank employees strike from July 25. <1--more--> Indian Indices: Today, the opening on Dalal Street is expected to be on a flat note tracking mixed global cues. SGX Nifty is trading 1 point higher. VKS Projects will list its equity shares on exchanges today. The issue price has fixed at lower end of price band of Rs55-60 a share. The Company is engaged in the business of undertaking EPC contracts of CS/SS/alloy steel turnkey piping, civil land development, industrial / commercial infra projects, structural fabrication and erection of equipments, fire fighting projects and commissioning of chemical plants. Major companies reporting results today — Bajaj Auto, Crisil, Bajaj Holdings & Investment. On Tuesday (July 17, 2012), the Sensex settled at 17105, up by 1.99 points while the Nifty closed at 5192, slipping by 4.40 points. Global Indices: Asian stock markets edged higher on Wednesday (July 18, 2012) on hopes that the US central bank has left the door open for more stimulus measures later in the year, after chairman Ben Bernanke outlined a gloomy view of the US economic recovery. European shares turned negative on Tuesday (July 17, 2012) after the U.S. Federal Reserve Chairman Ben Bernanke offered few new clues about another round of stimulus measures to support the economy. US stocks surged, erasing earlier losses on Tuesday, as Federal Reserve Chairman Ben S. Bernanke told senators the central bank is prepared to act to boost growth if the labor market doesn’t improve. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs355.80 crore on July 16, 2012. The domestic investors bought Indian shares worth a net of Rs10.60 crore on July 16, 2012. The data is as per the SEBI website. Commodity Cues: Oil hovered on Tuesday amid hopes China and the US will take new steps to bolster their economies.
Market may open flat to slightly higher
Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 4 points at the opening bell. Asian stocks were mostly lower. Bajaj Auto unveils Q1 June 2012 results today, 18 July 2012. Tata Motors turns ex-dividend today, 18 July 2012, for dividend of Rs 4 per share for the year ended 31 March 2012 (FY 2012). Foreign institutional investors (FIIs) bought shares worth a net Rs 474.95 crore on Tuesday, 17 July 2012, as per provisional data from the stock exchanges.
Tuesday, July 17, 2012
Biggest buyback in Indian Stock Market History - Reliance...
Reliance Industries has repurchased shares worth Rs 2,512 crore from its public shareholders—making it the country’s biggest share buyback programme ever while overtaking an earlier exercise by Piramal Healthcare. With this, Mukesh Ambani-led RIL has managed to achieve nearly one-fourth of the targetted amount of Rs 10,440 crore from the buyback programme, which began in February 2012. The company can continue its buyback programme till 19 January, 2013. As per the latest data, RIL has bought back 3.51 crore shares for an aggregate amount of Rs 2,512 crore till 13 July. So far, Piramal Healthcare had conducted the biggest ever share buyback programme, wherein it repurchased 4.18 crore shares for about Rs 2508 crore.
BSE Bulk Deals to Watch - July 16 2012
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price ** 16/7/2012 524412 Aarey Drugs LEADAGE TRADING PRIVATE LIMITED B 98300 28.52 16/7/2012 511589 Almondz Cap VEENA GASES & CHEMICALS PRIVATE LIMITED B 70058 9.15 16/7/2012 511589 Almondz Cap BLUE SQUARE CORPORATE SERVICES PRIVATE LIMITED S 70058 9.15 16/7/2012 511672 Clarus Finance BLUE CIRCLE SERVICES LIMITED B 100000 38.50 16/7/2012 511672 Clarus Finance KINGFISHER PROPERTIES PRIVATE LIMITED B 100351 37.75
Markets end dull trade in red; Sensex loses 110 points
The Indian equities closed the first trading session of the week in red. Sensex shut shop down by 110 points while the Nifty fell 30 points in today's trade. Major Headlines: June Inflation at 7.25% vs 7.55% in May Castrol India Q2 net profit slips by 15% Food Ministry proposes 10% import duty on sugar Lloyds Steel hits 5% uppercircuit on Open Offer Indian Indices The key benchmark indices closed today's trading session in the negative zone backed by weak domestic and global cues. The broader markets too witnessed lacklustre trade. With the release of June monthly Inflation data, the markets did show some strength but failed to maintain it till the end. The Sensex closed 110 points lower while the Nifty slipped 30 points. Movement of the Indian indices for the day: The Indian markets kick started a new week taking the falling trend of the last 4-trading sessions ahead. Markets fell for the fourth consecutive session witnessing dull-trade for the day. Today, the Indian Indices opened the session on a flat note but the pendulum kept swinging between the green and red zone. The key indices hit their intraday low level in the late afternoon session and closed today's trade on a negative note. The sectors like technology, metal, realty, capital goods, power, auto, PSU, FMCG and banking added pressure while the pharma, consumer durables and oil & gas gave some support. The major heavyweight losers for the day were - Infosys, TCS, L&T, Tata Motors, Tata Steel, ITC and ICICI Bank.
Infosys hits 52-week low after cutting FY 2013 guidance in dollar terms
Key benchmark indices fell for the fourth straight trading session to reach their lowest closing level in 2-1/2 weeks on concerns about slow progress of the annual monsoon rains, with sentiment also hurt by remarks over the weekend from Chinese Premier Wen Jiabao that the economic rebound in China isn't yet stable. China is the world's second biggest economy after the US. The barometer index, BSE Sensex, shed 110.39 points or 0.64%, off close to 180 points from the day's high and up about 25 points from the day's low. The market breadth was negative. From a recent high of 17,618.35 on 10 July 2012, the Sensex has declined 515.04 points or 2.92% in four trading sessions. The Sensex has lost 326.67 points or 1.87% in this month so far (till 16 July 2012). The Sensex has jumped 1,648.39 points or 10.66% in calendar 2012 so far (till 16 July 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,967.45 points or 12.99%. From a 52-week high of 18,944.60 on 26 July 2011, the Sensex has lost 1,841.29 points or 9.71%.
Monday, July 16, 2012
Are FIIs back in the Indian market?
The investment by overseas investors into Indian stock market since the beginning of 2012 is set to cross the $10 billion level, out of which more than $1 billion was pumped in the first two weeks of July. The total investment so far in 2012 by Foreign Institutional Investors (FIIs) in to the Indian equity market to U$9.82 billion (Rs 49,349 crore), according to data available with capital market regulator, the Securities and Exchange Board of India (Sebi).
Daily News Roundup - July 16 2012
Tata Motors Ltd is developing a new line of fuel-efficient trucks and buses to fend off competition from bigger global rivals. It is also planning to upgrade its passenger car models and introduce new ones to reverse the company’s sliding market share in this segment, Chairman Ratan Tata has said. (BS) Jindal Steel and Power has set an August 10 deadline for Bolivian government to resolve the issues related to its US$2.1bn venture in Bolivia, or it will pull out of the Latin American country. (BL) Essar Oil has set a roadmap to invest an additional ~Rs20bn at its coal-bed methane block in Ranigunj of West Bengal. (BS)
Sensex ends steady…TCS, HDFC Bank advance
The key Indian equity benchmarks ended with slender losses on Friday, extending its losing steak to a third consecutive trading session. After opening with a positive gap, the equity benchmarks were unable to make much headway and surrendered all the gains in the mid afternoon. Even a positive trend across Asian and European markets failed to lift the sentiment on the Indian bourses. Selling pressure in Realty, Metals, Power and IT stocks dragged the Nifty below the 5250 mark. The Sensex ended at 17,213, down 18 points or 0.1% from the previous close. It had earlier touched a day’s high of 17,342 and a day’s low of 17,182. It opened at 17,269. The NSE Nifty settled at 5227, down 8 points or 0.15%. It touched a day’s low of 5,216 and day’s high of 5,267.
Crossing the Limit?
Every person takes the limits of their own field of vision for the limits of the world. - Schopenhauer. Indian stock indices appeared to have crossed its limit in the near term after snapping a five-week winning streak last week. Meanwhile, US President Barack Obama says there appears to be a growing consensus in India that the time may be right for another wave of economic reforms to make India more competitive in the global economy. Back home, the much-hyped presidential election also takes place this week, with Pranab Mukherjee in the driver’s seat. The period after the presidential polls is likely to be an important one amid growing expectations on the reforms front.
Lesser inclusive growth than Vajpayee
Two buzzphrases associated with the Congress-led UPA are “inclusive growth” and “aam aadmi” policies. As the government nears the end of its useful life after more than eight years in power, it is time to hold up the mirror to its own claims. Has UPA ensured inclusive growth for the aam aadmi and aam aurat? And what exactly have welfarist schemes like the Mahatma Gandhi National Rural Employment Guarantee Act (NREGA, for short) ensured?
Flat to positive start likely
Indian markets are expected to open on a positive note on the back of mixed Asian cues. SGX Nifty is also trading 9 points higher. Events for the day: Inflation for June 2012. Results: Castrol India, Exide Industries.
Market seen opening slightly higher; June inflation data eyed
Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 8 points at the opening bell. The Central Statistical Organization (CSO) will announce data on wholesale price index inflation for June 2012 at 11:30 IST today, 16 July 2012. Asian markets were trading mixed as China's premier on Sunday said weakness in the world's second-biggest economy is not yet over. Tata Steel turns ex-dividend today, 16 July 2012, for dividend of Rs 12 per share for the year ended 31 March 2012 (FY 2012). Tata Motors is developing a new range of fuel-efficient trucks and buses to keep its leadership of the commercial vehicle market in India where it expects the entry of several auto makers to challenge its domination in the coming years, Tata Motors chairman Ratan Tata said in the company's annual report for the year ended 31 March 2012 (FY 2012), which was released on Friday, 13 July 2012. In the coming years, Tata Motors' predominance in commercial vehicles will be challenged by the entry of international brands like Mercedes-Benz, Volvo and Navistar which have all entered, or are in the process of entering India, Mr. Tata said.
Sunday, July 15, 2012
Sell on rise markets ?
The markets tried their best to edge higher in the early part of the trading week, but eventually fell apart following earnings disappointment from Infosys. The BSE benchmark index had managed to close at a fresh three-month high at 17,618 on Tuesday. However, thereafter the index tumbled to a low of 17,181, down 450 points from the week’s high of 17,631. The Sensex eventually ended with a loss of 307 points at 17,214.
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