Wednesday, September 26, 2012
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price ** 26/9/2012 524412 Aarey Drugs AJITKUMAR JOGENDARPRASAD SINGH B 123261 50.50 26/9/2012 530901 ACIL PRAKASHKUMAR DEVSHILAL SHETH S 1410401 0.13 26/9/2012 507852 Addi Inds-$ SEWASTUTI FINANCE P.LTD B 266716 5.37 26/9/2012 507852 Addi Inds-$ YAMUNOTRI FINANCIAL P.LTD. S 266716 5.37 26/9/2012 533163 Arss Infra Proj KHIMRAJ SONAJEE BAGRECHA B 137329 51.12 26/9/2012 533163 Arss Infra Proj CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 271361 50.64
Frontline Indian stock indices managed to claw their back from the intraday lows in late afternoon trade but closed marginally lower, notwithstanding weakness in global markets and concerns about the eurozone debt crisis. Still, market participants used weakness across global markets to pare some of their bullish bets in Large-Cap stocks after the recent rally to 14-month highs. The BSE Sensex and the NSE Nifty closed about a third of a percent down each on a provisional basis. The BSE Sensex ended at 18,632, down 62 points over the previous close. It had earlier touched a day's high of 18,670 and a day's low of 18,573. It opened at 18,644.
The markets remained under pressure for the entire day on account of weak global cues. The Sensex ended 62 points lower while the Nifty fell 10 points in trade today. Major Headlines of the day: Credit Suisse upgrades ACC Cement transportation by railways falls 11.8% SEBI approves govt stake hike; IFCI hits weekly low Govt likely to relax highway bid norms
Key benchmark indices edged lower as global growth jitters, euro-zone debt worries and ongoing territorial dispute between China and Japan hit investor sentiment adversely. Both the BSE Sensex and the 50-unit S&P CNX Nifty reached their lowest closing level in almost one week. The barometer index, BSE Sensex, fell 62.24 points or 0.33%, up about 59 points from the day's low and off about 38 points from the day's high. Metal stocks fell as global growth jitters cast doubt on future demand for commodities. Tata Steel dropped on euro zone debt worries. BSE Small-Cap and Mid-Cap indices both edged higher. The market breadth was even. The Sensex has gained 1,202.61 points or 6.9% in this month so far (till 26 September 2012). The Sensex has jumped 3,177.25 points or 20.56% in calendar 2012 so far (till 26 September 2012). From a 52-week high of 18,866.87 on 21 September 2012, the Sensex has fallen 234.70 points or 1.24%. From a 52-week low of 15,135.86 on 20 December 201, the Sensex has risen 3,496.31 points or 23.10%.
United Spirits and Diageo Plc confirmed that Diageo is in discussion with United Spirits Ltd and United Breweries (Holdings) in respect of a possible transaction for Diageo to acquire an interest in United Spirits. (BL) The partnership between Bajaj Auto Limited and the alliance of global auto giants Renault and Nissan to manufacture and market small cars has been shelved. (BS) Bajaj Electricals Ltd is scouting for acquisition, including brands in electricals and lighting with a corpus of Rs10bn. (BL) According to a wage settlement agreement signed between the Maruti Suzuki and the Gurgaon based Maruti Udyog Kamgar Union, permanent workers at the Gurgaon unit will be given an increment of ~Rs18,000 in their monthly salary spread over a period of three years. The wage agreement is effective retrospectively from April 1. (BS)
"When we are tired, we are attacked by ideas we conquered long ago" - Friedrich Nietzsche. Investors are taking a breather after the recent rally, which means large-cap stocks may remain rangebound before making a decisive move. The broader market seems to be showing more signs of life though this category warrants extra caution. What we have in store is a lower opening. Stick to a stock-centric approach as the main indices may consolidate. Things may turn wee bit volatile ahead of Thursday’s F&O expiry. Global cues are again weak. Asian markets are mostly in the red. US markets closed at a two-week low following a Fed official's hawkish comments. Earlier, US stocks had gained in the wake of encouraging data on consumer confidence and home prices.
What is CRR? Cash reserve Ratio (CRR) is the amount of funds that the banks have to keep with the RBI. If the central bank decides to increase the CRR, the available amount with the banks comes down. The RBI uses the CRR to drain out excessive money from the system. Commercial banks are required to maintain with the RBI an average cash balance, the amount of which shall not be less than 3% of the total of the Net Demand and Time Liabilities (NDTL), on a fortnightly basis and the RBI is empowered to increase the rate of CRR to such higher rate not exceeding 20% of the NDTL. What is Reverse Repo rate? Reverse Repo rate is the rate at which the RBI borrows money from commercial banks. Banks are always happy to lend money to the RBI since their money are in safe hands with a good interest. An increase in reverse repo rate can prompt banks to park more funds with the RBI to earn higher returns on idle cash. It is also a tool which can be used by the RBI to drain excess money out of the banking system. What is a Repo Rate? The rate at which the RBI lends money to commercial banks is called repo rate. It is an instrument of monetary policy. Whenever banks have any shortage of funds they can borrow from the RBI. A reduction in the repo rate helps banks get money at a cheaper rate and vice versa. The repo rate in India is similar to the discount rate in the US.
Indian markets may open in the red zone led by negative Asian cues. SGX Nifty is also trading 19.50 points lower. Events for the day: Ex date for dividend of Rajesh Exports. Ex date for final dividend of Garnet International.
The market may open lower on weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 23 points at the opening bell. The market may remain volatile in the immediate future as traders roll over positions in the futures & options (F&O) segment from the near month September 2012 series to October 2012 series. The September 2012 F&O contracts expire tomorrow, 27 September 2012. Asian markets fell on Wednesday with sharp losses in Japan's Nikkei Average as many firms started to trade without rights to the latest dividend payouts, while global growth fears hit resource shares across the region. Meanwhile, an unexpected resignation by Maharashtra Deputy Chief Minister on Tuesday, 25 September 2012, over allegations of corruption threw the Congress-Nationalist Congress Party (NCP) government in Maharashtra into a fresh crisis as the resignation of the powerful NCP leader in Maharashtra was followed by other NCP ministers in the Maharashtra state government also sending their resignations. NCP chief Sharad Pawar said that there is no threat to the state government in Maharashtra. Maharashtara Chief Minister Prithviraj Chavan has refused to accept Ajit Pawar's resignation right away. Chavan said that he will take a decision on the issue only after consultations with his ministers from both the Congress as well as the NCP. At the Centre, NCP is a part of the Congress led UPA government. NCP has 9 MPs.