Reliance Communications

Reliance Communications

Wipro, BHEL, NTPC, Reliance Communications

Wipro, BHEL, NTPC, Reliance Communications

Punj LLoyd

Punj LLoyd

Another dull day for precious metals

Gold and silver prices slip for third straight day as dollar gains against euro

Bullion metals dropped for the third consecutive day today, Tuesday, 5 February, 2008. Pries fell as dollar gained against its rivals, mainly the euro. Silver prices also ended considerably lower for the day. Traders also speculated that dollar will rally in the coming months.

Gold generally moves in the opposite direction of the U.S. currency. Gold, as a dollar-denominated commodity, suffers from dollar strength.

Comex Gold for April delivery fell $19.1 (2.1%) to close at $890.3 an ounce on the New York Mercantile Exchange after hitting an intraday low of $888.4 earlier in the day. Last Wednesday, 30 January, 2008 prices had hit a high of $941 in the after hours trading. This year, prices have gained 7.2% till date. In Janauary, prices gained 11%, the highest monthly gain since April 2006. Last week, gold prices closed lower by $2.7 (0.3%) against previous close of $916.1.

Comex Silver futures for March today fell by 43.5 cents (2.6%) to $16.345 an ounce. Silver has gained 10.2% in 2008. The metal had climbed 16% in FY 2007. The metal also has gained for seven straight years. In January this year itself, prices climbed 14%.

Gold has traditionally been used as a safe-haven asset against rising inflation. Investor sentiments are boosted by the fact that gold and silver are alternate sources of good investment in the face of declining dollar and rising energy prices. Rising crude increases inflationary pressures and vice versa. On the other hand strong dollar reduces the appeal of the metal as alternate source of investment.

The Institute for Supply Management's non-manufacturing index, a gauge of almost 90% of the U.S. economy, reportedly fell to 41.9 in January, from 54.4 in December. A reading of less than 50 indicates contraction

In the currency markets today, the U.S. dollar rallied against most major currencies, as currency traders appeared to shrug off dismal U.S. nonmanufacturing sector data and focussed on growing signs of an impending slowdown in Europe. The dollar index, which tracks the performance of the greenback against a basket of other major currencies, surged 0.9% at 76.080.

In the energy market today, crude oil rose fell by more than $1.5 to settle at $88/barrel.

On 31 January, 2008, the Federal Reserve lowered interest rates 0.5% point to 3% today. This was on top of the 75 bps rate cut to 3.5% that Fed did earlier this year. The interest rate cuts are to avoid the US economy from plunging into recession.

Gold witnessed the greatest annual gain in twenty eight years by gaining $200/ounce (31%) in FY 2007. In 2006, silver had jumped 46% while gold gained 23%.

Gold had climbed 31% ($200/ounce) in FY 2007 as lower interest rates had sent the dollar tumbling, and crude-oil prices rose to a record. The Fed reduced federal funds rate three times in FY 2007.

At the MCX, gold prices for February delivery closed higher by Rs 34 (0.3%) at Rs 11,612 per 10 grams. Prices rose to a high of Rs 11,533 per 10 grams and fell to a low of Rs 11,321 per 10 grams during the day’s trading.

At the MCX, silver prices for March delivery closed Rs 333 (1.6%) lower at Rs 21,134/Kg. Prices opened at Rs 21,436/kg and fell to a low of Rs 21,010/Kg during the day’s trading.

Crude slips on demand concerns

Prices fall as ISM data ignites recession concerns

Crude prices slipped today, Tuesday, 5 February, 2008 as weak economic data fuelled recession concerns and this led to questioning of the demand for crude in coming months. Prices slipped ore than $1.5/barrel.

Crude-oil futures for light sweet crude for March delivery today closed at $88.81/barrel (lower by $1.66/barrel or 1.8%) on the New York Mercantile Exchange. Prices are 51% higher than a year ago. Earlier it fell to a low of $87.5/barrel.

The Institute for Supply Management's index of non-manufacturing plummeted to 41.9 from 54.4 in December, its largest monthly decline on record. The decline in the index reignited fears that the U.S. economy was in a slowdown.

Crude had ended FY 2007 substantially higher by $35 or 57%. It was crude’s biggest yearly gain in five years.

Brent crude oil for March settlement today fell $1.66 (1.8%) to $88.81 on the London-based ICE Futures Europe exchange. The London benchmark rose 54% in FY 2007, the most since 1999 when prices more than doubled.

Natural gas advanced amid speculation a revised forecast for lower temperatures next week will lift demand in the regions of highest use. Natural gas for March delivery rose 7.3 cents (0.9%) to settle at $7.942 per million British thermal units

Against this backdrop, March reformulated gasoline dropped 4.7 cents to $2.2647 a gallon and March heating oil declined 4.38 cents to $2.4465 a gallon.

Last week, Organization of Petroleum Exporting Countries decided to keep current output levels unchanged.

At the MCX, crude oil for February delivery closed at Rs 3,489/barrel, lower by Rs 66 (1.8%) against previous day’s close. Natural gas for February delivery closed at Rs 313.8/mmtbu, higher by Rs 2.9/mmtbu (0.93%).

Tomorrow, EIA will report the inventory status of crude and fuel products.

REL, NTPC, IFCI February 2008 futures at premium

Turnover in F&O segment declines

Nifty February 2008 futures were at 5495, at a premium of 11.10 points as compared to spot closing of 5483.90.

The NSE's futures & options (F&O) segment turnover was Rs 31,121.35 crore, which was lower than Rs 40,169.33 crore on Monday, 4 February 2008.

Reliance Energy (REL) February 2008 futures were at premium, at 2038, compared to the spot closing of 2026.55.

NTPC February 2008 futures were at premium, at 224.30, compared to the spot closing of 222.90.

IFCI February 2008 futures were at premium, at 67.80, compared to the spot closing of 66.40.

In the cash market, the S&P CNX Nifty gained 20.40 points or 0.37% at 5483.90.

NSE Bulk Deal Watch - Feb 5 2008

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
05-FEB-2008,AZTECSOFT,Aztecsoft Limited,KARE ELECTRONICS AND DEVELOPMENTS (P) LTD,BUY,264452,65.00,-
05-FEB-2008,HTMEDIA,HT Media Limited,REL CAP TRUSTEE CO LTD A/C REL EQ OPP FUND,BUY,2476893,195.00,-
05-FEB-2008,MADHAV,Madhav Marbles and Granit,JAIN ORNA PVT LED,BUY,50000,70.00,-
05-FEB-2008,NORTHGATE,Northgate Technologies Li,CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED,BUY,507063,512.50,-
05-FEB-2008,SUBHASPROJ,Subhash Proj & Mkt Ltd.,NEW VERNON INDIA LIMITED,BUY,331760,447.00,-
05-FEB-2008,AZTECSOFT,Aztecsoft Limited,ICICI PRUDENTIAL LIFE INSURANCE CO.LTD.,SELL,282400,65.01,-
05-FEB-2008,HTMEDIA,HT Media Limited,FID FUNDS MAURITIUS LIMITED ,SELL,2607025,195.00,-
05-FEB-2008,MADHAV,Madhav Marbles and Granit,MEENAKSHI JATIA,SELL,99696,70.00,-
05-FEB-2008,NORTHGATE,Northgate Technologies Li,GEOMATRIC (HK) LTD. A/C MARSHAL ASIA CAPITAL LTD.,SELL,507063,512.50,-
05-FEB-2008,RAJESHEXPO,Rajesh Exports Ltd.,ZUBER INVESTMENTS PVT LTD,SELL,650000,151.40,-
05-FEB-2008,SUBHASPROJ,Subhash Proj & Mkt Ltd.,MACQUARIE BANK LIMITED,SELL,200000,447.00,-

BSE Bulk Deals to Watch - Feb 5 2008

Deal Date Scrip Code Scrip Name Client Name Deal Type * Quantity Price **
5/2/2008 531190 A V COTTEX I SUDHIR JAIN B 68200 20.00
5/2/2008 531247 ALPHA HI-TEC MAGUNTA RAGHAV S 31662 4.00
5/2/2008 500029 AUTOLITE INE JANKI TEXTILE AND INDUSTRIES LTD. S 25611 100.00
5/2/2008 505506 AXON INFOTEC ANMOL FINANCE COMPANY B 10000 60.00
5/2/2008 505506 AXON INFOTEC CHIRAG SECURITIES B 15000 59.86
5/2/2008 505506 AXON INFOTEC RUPAK DEVELOPERS PRIVATE LIMIT B 5000 60.00
5/2/2008 505506 AXON INFOTEC MAHARAJA ADVISORY SERVICES PRIVATE LIMITED S 4200 59.88
5/2/2008 505506 AXON INFOTEC NINCRO INVESTMENTS AND FINANCE PVT LTD S 25000 60.00
5/2/2008 532380 BABA ARTS MONEY MANAGERS B 200000 28.73
5/2/2008 532380 BABA ARTS LAHOTI COMPUTERS PRIVATE LTD S 200000 28.73
5/2/2008 532380 BABA ARTS GORDHAN P TANWANI S 88804 29.25
5/2/2008 511698 BHAGYASHREE MASTER TRUST LTD S 50000 69.45
5/2/2008 512332 BIRLA CAP PARI STOCK TRADING PVT. LTD S 52163 13.03
5/2/2008 531682 CAT TECHNOL SARFARAZKHAN SARVARKHAN PATHAN B 776929 10.00
5/2/2008 531682 CAT TECHNOL SARFARAZKHAN SARVARKHAN PATHAN S 463929 10.05
5/2/2008 532271 CYBERMAT INF JMP SECURITIES PVT. LTD. B 724937 11.44
5/2/2008 532271 CYBERMAT INF SARFARAZKHAN SARVARKHAN PATHAN B 1483587 11.44
5/2/2008 532271 CYBERMAT INF JMP SECUIRITIES PVT. LTD. S 587056 11.49
5/2/2008 532271 CYBERMAT INF SARFARAZKHAN SARVARKHAN PATHAN S 1544212 11.38
5/2/2008 526821 DAI ICH KARK SHERNEZ F VAKIL B 199170 25.15
5/2/2008 505982 ENNORE FOUND SUBKHAM HOLDING PVT LTD B 83863 199.00
5/2/2008 505982 ENNORE FOUND SUBKHAM CAPITAL INVESTMENT PVT LIMITED S 83891 199.00
5/2/2008 530955 KAILASH FICO SHIVANI SURYAKANT SHAH B 60400 48.14
5/2/2008 504269 KHAITAN ELCT PACIFIC CORPORATE SERVICES LIMITED B 475000 98.41
5/2/2008 504269 KHAITAN ELCT WITHAL COMMERCIAL PVT LTD S 100000 97.88
5/2/2008 504269 KHAITAN ELCT SARSWATI VINCOM LTD S 100000 97.59
5/2/2008 504269 KHAITAN ELCT LOTUS CAPITAL FINANCIAL SERVICES LTD S 200000 98.99
5/2/2008 532092 KIRTI FINVES JMP SECURITIES PVT. LTD. B 271019 1.15
5/2/2008 515093 MADHAV MAR G MEENAKSHI JATIA S 100000 70.00
5/2/2008 505523 MAH IND LEAS AYODHYAPATI INVESTMENT PVT. LTD B 46193 33.72
5/2/2008 526169 MULTIBASE 1 BSMA LTD B 94716 42.50
5/2/2008 532649 NECTAR LIFE MERILL LYNCH CAPITAL MARKETS ESPANA B 91972 261.01
5/2/2008 532649 NECTAR LIFE GRANTS INVESTMENTS LTD FCCB S 91000 261.00
5/2/2008 512449 PACE ELEC(P) UNIFLEX CARRYING CO. PVT LTD S 112000 16.12
5/2/2008 532497 RADICO KHAIT GOLDMAN SACHS INVESTMENTS MAURITIUS I LTD S 714662 107.68
5/2/2008 523710 SAYAJ HOTELS TRANS AGRO INDIA PRIVATE LIMITED B 100000 110.35
5/2/2008 502563 SH BHAW PA M SUDHIR TANDON B 80000 11.05
5/2/2008 502563 SH BHAW PA M SUDHIR TANDON HUF S 80000 11.05
5/2/2008 531866 SUBHKAM CAP SUBHKAM CAPITAL INVEST. PVT LTD B 100000 1249.00
5/2/2008 590047 SUNDARAMMUL ACCORD CAPITAL MARKETS LTD B 495353 17.50
5/2/2008 590047 SUNDARAMMUL MICRO MANAGEMENT LTD S 199525 17.50
5/2/2008 531088 TULIP STAR H BHAMRIBAI BHAVARLAL JAIN B 51643 80.00
5/2/2008 511246 WHITE LION A MAHESH RAMANLAL SHAH S 29677 10.98
5/2/2008 521163 ZODIAC CLOTH NOTZ STUCKI ET S A AC ARUNA FUND B 99418 601.65
5/2/2008 521163 ZODIAC CLOTH BSMA LIMITED S 99442 600.02

Post Market Commentary - Feb 5 2008

The market closed with marginal gains after struggling a lot throughout the trading session. The market opened on a negative note backed by unfavoring cues from the global markets but managed to recover from the initial fall but unable to sustain at higher levels due to profit booking across the counters and finally closed with little gains. A lot of volatility was witnessed during the trading session and the investors took calculated steps in booking their positions. However, the Small Caps and Mid Caps out performed the benchmark indices as most buying was seen from these baskets. The metal, realty, and oil & gas reported most buying from the sectoral indices space. The BSE Sensex closed marginally higher by 2.84 points at 18,663.16 while NSE Nifty closed up by 20.4 points at 5,483.90. The BSE Mid Cap and Small Cap indices also closed higher by 66.38 points and 105 points at 8,071.29 and 10,466.78 respectively.

BSE Metal index closed higher by 355.62 points at 16,793.81. Scrips that advanced are Jindal Steel (13.25%), Ispat Inds (6%), Welspun Guj (2.59%), JSW Steel (2.03%) and Tata Steel (1.87%).

BSE Realty index grew by 157.77 points to close at 10,671.23. Gainers are Sobha Dev 8.74%, Phoenix mill 4.87%, Unitech 4.59%, HDIL 4.20%, Parsvnath 3.29%, Purvankara 2.73%.

BSE Oil & Gas index closed up by 122.13 points at 11,415.49. Gainers are RNRL (6.98%), RPL (2.25%), ONGC (1.78%), HPCL (1.57%), IOCL (1.15%) and Reliance Inds (0.90%).

BSE HealthCare index closed up by 62.39 points at 3,769.45 as Orchid Chem 4.41%, Fortis Health 3.41%, Dr Reddy Lab 3.13%, Nicholas Piramal 2.38%, Aurobindo Pharma 2.47% closed in green.

BSE Auto index fell by 83.03 points to close at 5,024.67 as Hero Honda (5.56%), Maruti Suzuki (2.70%), M&M (2.24%), Bajaj Auto (2.24%) and Tata Motors (1.87%) closed in red.

BSE Bankex index closed lower by 173.31 points at 10,937.60. Losers are Axis bank 2.80%, Union bank 2.43%, HDFC bank 2.14%, SBI 1.90%, Kotak bank 1.85% and ICICI bank 1.69%.

Market Close: Wobbling with no clear direction

Volatile session for the India market with nothing big to support. Indian counterparts the Asian Indices traded weak for the day. Indices kept wobbling on both side through the day with no clear direction. Midcaps and small caps continued to keep Investors interest as compared to the heavyweights. Metal, power and realty were among gainers while IT, banking and auto sector witnessed the selling pressure. All power stocks traded strong with the news of Reliance power getting listed in 11 Feb 08. Markets seem to be in the consolidation mood after recovering from recent fall. European indices are trading in red.

Sensex ended up by 4 points at 18663.16. It was helped up by gains in NTPC (223.1,+4 percent), Ranbaxy (387.25,+4 percent), Dr Reddys (544.45,+3 percent), Hindalco (181.95,+2 percent) and TISCO (817.8,+2 percent). Restricting the gains are Hero Honda (726.8,-6 percent), TCS (949.45,-3 percent), Maruti (872.35,-3 percent), Bajaj Auto (2404,-2 percent) and Wipro (454.3,-2 percent).

Tata Consultancy Services (TCS) one of India's leading software company has asked 400 employees, who had an experience of less than 2 years to resign. Just a couple of weeks ago there were reports that TCS had cut salaries. TCS has announced a pay which is EVA linked and it is clear that salary revisions this time will bring in much disappointment to the software employees. Few days back there were reports that IBM had laid off 700 employees. We recall that Zensar had similar talk couple of months ago. We are aware that Infosys has also seen some pink slips. Most of these are attribued as employees / trainees not upto mark. But clearly suggest that life is not as hunky dory as it seems to be. The software employees have been spoilt given the strong demand scenario which prevailed. What has hit them is not only the no hikes but the gains on their stock option which have gone down. Clearly employee satisfaction will be an issue to handle. We believe that with US, the largest geographical client facing serious slowdown. Software stocks are best avoided for now.

Technically Speaking: Markets ended flat after wild swing with no clear direction. Sensex made an intra day high of 18730 and low of 18510. The breadth was in favor of Advances as there were 1907 Advances against 882 Declines. Market turnover still remains low at Rs 5301crs. We maintain our Sensex target of 19200. More stocks are moving into the pullback rally. Sensex support stands at 18500 and 18300 level. Resistance lies at 18750 and 18860.

Indices close flat; PSU, metal outperform

A day after the Sensex gained over 400 points on sustained all-round buying, the market was gloomy amid a range-bound trend during intra-day trades. After shedding 67 points to yesterday's close, the market slipped further in the afternoon, as investors tracked weak Asian indices, with the Sensex tumbling below the 18,550 mark to touch the day's low of 18,510. Along with the selling in heavyweights, the major correction in auto, banking and IT stocks also weighed on the indices. However, select buying in public sector units (PSU) and metal stocks towards the close saw the Sensex enter into the green. The Sensex finally closed the session with a gain of three points at 18,663, while the Nifty moved up by 20 points at 5,484.

However, the broader market was positive. Of the 2,835 stocks traded on the Bombay Stock Exchange (BSE) 1,915 stocks advanced, 869 stocks declined and 51 stocks ended unchanged.

The BSE Metal index led the surge in the sectoral indices on the BSE and rose 2.16% at 16,794. The BSE HC index, the BSE Oil & Gas index, the BSE Power index, the BSE PSU index and the BSE Realty index were the other notable gainers, while the BSE Auto index, the BSE Banking index and the BSE IT index ended weak.

Buying was led by NTPC, which notched up gains of 4.03% at Rs223. Among the other gainers Ranbaxy advanced 3.78% at Rs387, Hindalco added 1.93% at Rs182, Tata Steel moved up 1.87% at Rs818, Cipla jumped by 1.81% at Rs203, HDFC gained 1.78% at Rs3,070 and ONGC was up 1.78% at Rs1,074. However, TCS, Maruti Suzuki, M&M, Bajaj Auto, Wipro and HDFC Bank were down over 2% each.

Over 2.20 crore RNRL shares changed hands on the BSE followed by Ispat Industries (1.91 crore shares), IFCI (1.52 crore shares), Tata Teleservices (1.08 crore shares) and Reliance Petroleum (93.77 lakh shares).

Valuewise, Reliance Communications registered a turnover of Rs414 crore on the BSE followed by RNRL (Rs330 crore), Jindal Steel (Rs187 crore), Future Capital (Rs164 crore) and Reliance Petroleum (Rs163 crore).

Small-cap, mid-cap indices outperform Sensex

The market ended flat after moving between positive and negative zone. The market recovered from weak start caused by weak global cues. Reliance Industries edged higher. Auto, banking and IT stocks fell while power and metal stocks edged higher. The market breadth was strong.

European markets which opened after Indian markets were subdued in early trade. Asian markets, which opened before Indian markets, were mostly lower.

Liquidity may get a boost from huge refunds that investors will get from Reliance Power IPO though it remains to be seen how much money comes to secondary market in the light of immense volatility witnessed on the bourses last month. Reliance Power, which raised a record $3 billion in its initial share sale in January 2008, said on Friday, 1 February 2008, it had begun refunding excess application money to investors. The initial public offer had received bids for $190 billion.

The 30-share BSE Sensex rose a meagre 2.84 points or 0.02% at 18,663.16. Sensex hit a high of 18,729.83 in morning trade. At the day's high, Sensex gained 69.51 points. Sensex touched a low of 18,509.54 in initial trade. At day’s low it shed 150.78 points.

The broader based CNX S&P Nifty was up 20.4 points or 0.37% to 5,483.90.

BSE clocked a turnover of Rs 5301 crore, compared to Rs 5764.15 crore on Monday, 4 February 2008.

Nifty February 2008 futures were at 5495, at a premium of 11.10 points as compared to spot closing of 5483.90.

The NSE's futures & options (F&O) segment turnover was Rs 31,121.35 crore, which was lower than Rs 40,169.33 crore on Monday, 4 February 2008.

The BSE Mid-Cap index was up 0.83% at 8,071.29. BSE Small-Cap was up 1.01% at 10,466.78. Both these indices outperformed Sensex.

The market breadth was strong: on BSE 1,900 advanced as compared to 887 that declined. 35 stocks remained unchanged. 16 out 30 stocks from the Sensex pack were in green.

Metal stocks rose. Jindal Steel & Power (up 13.25% to Rs 2,586.35), Hindalco Industries (up 1.93% to Rs 181.95) edged higher.

Tata Steel, world's sixth largest steel maker, rose 1.87% to Rs 817.80. Tata Steel has reportedly lost its bid to buy the rights to iron ore reserves in Liberia to the Johannesburg-based Delta Mining Consolidated Company.

National Aluminium Company (down 1.58% to Rs 413.85) and Sterlite Industries (down 1.37% to Rs 836.30) edged lower.

Auto stocks declined. India's biggest car maker in terms of sales, Maruti Suzuki India declined 2.7% to Rs 872.35. Maruti Suzuki may reportedly launch a Rs 1.5 lakh car by end of this year or early 2009 to challenge Tata Motors' Nano. According to reports, it will have a Suzuki 660cc engine - as against Nano's 623cc - and wear a tag of around Rs 1.5 lakh on road (excluding insurance). Nano is expected to be Rs 1.25 lakh on road.

Tata Motors, India's top commercial vehicles maker in terms of sales, declined 1.87% to Rs 755.50. Tata Motors is reportedly satisfied with the progress of negotiations with US carmaker Ford Motor Company to buy British marquee brands Jaguar and Land Rover. The deal is expected to cost $2 billion.

Hero Honda Motors declined 5.56% to Rs 726.80, Bajaj Auto fell 2.24% to Rs 2,404 and Mahindra & Mahindra slipped 2.24% to Rs 680.55.

Banking stocks declined. India’s largest private sector bank by assets ICICI Bank fell 1.69% to Rs 1,189.80. The company has reportedly decided to split its home loans business between itself and an unit called ICICI Home Finance Company. The bank will fund home loans of up to Rs 20 lakh, with the unit handling the rest.

HDFC Bank declined 2.14% to Rs 1,515.10 and State Bank of India fell 1.9% to Rs 2,228.35.

Shares in software services exporters took a beating due to a gloomy economic outlook in the United States, which contributes to more than half of their revenue. Tata Consultancy Services (down 2.72% to Rs 949.45), Wipro (down 2.14% to Rs 454.30 and Infosys (down 1.91% to Rs 1,611.25) edged lower. Satyam Computer Services rose 0.22% to Rs 438.20.

Healthcare stocks rose. Ranbaxy Labotatories (up 3.78% to Rs 387.25), Sun Pharmaceuticals (up 1.39% to Rs 1,123.60), Cipla (up 1.81% to Rs 202.95) and Dr. Reddy’s Laboratories (up 3.13% to Rs 544.45) edged higher.

India’s largest private sector firm by market capitalization and oil refiner Reliance Industries rose 0.9% to Rs 2,616. The Bombay High Court will hear petitions on the gas supply dispute between Reliance Industries and Reliance Natural Resources on Tuesday, 5 February 2008.

India’s largest engineering & construction firm by revenue Larsen & Toubro rose 1.28% to Rs 3,855.05.

Among the Sensex gainers, NTPC rose 4.03% to Rs 223.10.

Reliance Communications declined 1.17% to Rs 677 despite Ministry of Communications & Information Technology, Government of India, granting approval to Reliance Telecom (RTL), a wholly owed subsidiary of the company, for providing CDMA services in Assam and North East service areas.

Jindal Steel & Power rose 13.25% to Rs 2,586.35. The scrip topped gainers in BSE's A group shares. Neyveli Lignite surged 12.11% to Rs 167.10. It was the second biggest gainer from A group. Escorts rose 9.63% to Rs 101.90. It was the third biggest gainer from A group. Sobha Developers rose 8.74% to Rs 868.60. It was the fourth biggest gainer from A group. IndusInd Bank rose 7.85% to Rs 110.60. It was the fifth biggest gainer from A group.

Reliance Natural Resources clocked highest turnover of Rs 330.81 crore on BSE. Reliance Communications (Rs 414.41 crore), Reliance Petroleum (Rs 163.91 crore), NTPC (Rs 110.69 crore) and Ispat Industries (Rs 87.33 crore) were other turnover toppers in that order.

Reliance Natural Resources clocked highest volume of 2.2 crore shares on BSE. Ispat Industries (1.91 crore), IFCI (1.52 crore) Tata Teleservices (1.08 crore) and Reliance Petroleum (93.77 lakh) were other volume toppers on BSE in that order.

European markets were weak. France’s CAC 40 (down 0.82% to 4,932.93), Germany’s DAX (down 0.44% to 6,969.43) and UK’s FTSE 100 (down 0.55% to 5,993.10) edged lower.

Asian stocks slipped on Tuesday, 5 February 2008 after a wave of broker downgrades on Wall Street on Monday, 4 February 2008, sparked fresh worries about the health of the US financial sector. In Asia, key benchmark indices in Hong Kong, China, Japan and Singapore were down by 0.82% to 1.55%. However, South Korea's Seoul Composite index was up 0.38%.

US stocks closed lower on Monday on profit taking and analyst downgrades of major financial institutions, including American Express and Wells Fargo. The Dow Jones industrial average lost 108.03 points, or 0.85% at 12,635.16 on Monday, 4 February 2008. The Standard & Poor's 500 Index lost 14.60 points, or 1.05%, at 1,380.82. The Nasdaq Composite Index shed 30.51 points, or 1.26%, at 2,382.85.

Poll Results - I am buying ...

I am buying ..

Largecaps 256 (57%)

Midcaps 218 (48%)

Smallcaps 87 (19%)

TOTAL Votes : 445

Morning Call - Feb 5 2008

Market Grape Wine :

In House :

Nifty at a supp of 5270 and 5405 with resis at 5505 and 5578.Long positions can be held on with a SL of 5050 on Nifty.

Nifty likely to inch up to 5630 and 5949 thereafter

Cash: Buy Indian bank above 213.50 with a TGT of 225 and a SL of 209.40

Sell SAIL below 225 with a TGT of 215 and a SL of 228

F&O: Buy ABB above 1228 with a TGT of 1275 and a SL of 1209

Buy Parsavnath above 292 with a TGT of 305 and a SL of 286



Out House :

Markets at a support of 18118 & 18282 levels with resistance at 18786 & 18976 levels .

Buy : RIL & Satyam

Buy : INFY

Buy : SBIN & Kotak

Buy : JPASSO

Buy : Praj & IBullsReal

Buy : SKumar & Aban

Buy : Geship

Buy : BajaHind & Balrampur

Buy : JSW & Sail at dips

Dark Horse : Sail , IBullreal ,Geship , Prime , IOlBroad , Aban , , RIL , Sbin , & Educomp

Market may remain weak

After witnessing a jump of over 400 points in yesterday's trades, the market is likely to remain shaky on weak global markets. Also FIIs and domestic mutual funds remaining net sellers may keep the sentiment bearish. Among the key domestic indices, the Nifty may get support at 4800 and may test higher levels at 5600. The Sensex has a likely support at 16000 and on the upside could test 18700 levels.

US Indices tumbled on Monday, on weakness in financial sector and the continued threat of a recession. While the Dow Jones tumbling by 108 points to close at 12635. The Nasdaq declined 31 points on weak tech stocks and closed at 2383.

The Indian ADRs had a mixed outing on the US bourses. Patni Computer jumped 6.17% and MTNL surged by 4.88% while, Satyam, Wipro, Tata Motors, VSNL and Rediff gained around 1% each. However, HDFC Bank slipped 2.98%, ICICI Bank dropped 2.92%, Infosys fell 1.86% and Dr Reddy's Lab was down 1.58%.

Crude oil prices gained further, with the Nymex light crude oil for March series moved up by $1.06 to close at $90.02 a barrel. In the commodity segment, the Comex gold for April delivery slumped $4.10 to settle at $909.40 an ounce.