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Tuesday, January 05, 2010
Sensex ends higher for second day; Hindalco zoom
The Sensex ended on a higher note for the second day supported by index heavyweights Hindalco, Jaiprakash Associates and Sterlite Industries. Metal stocks traded higher during the day followed by realty and teck stocks, which led the upmove, except auto. Comments from Finance Ministry`s Chief Economic Advisor (CEA) Kaushik Basu that the Indian economy can notch up a 10% growth rate in the next few years also enhanced the sentiments.
It opened flat with a loss of 2.96 points, at 17,555.77 on Tuesday and soon moved up into the positive and traded higher touching a 22 month high of 17,729.78 in morning trade. The index later pared some of its gains due to some profit taking seen at higher levels in frontliners and remained positive throughout the session, settling near day`s high.
BSE Midcap and Smallcap index rose 1.20% and 0.85% respectively.
The Sensex ended the day with a gain of 127.51 points, or 0.73% at 17,686.24 after touching a high of 17,729.78 and a low of 17,555.77. The broad-based NSE Nifty gained 45.70 points, or 0.87% at 5,277.90 after hitting a high of 5,288.35 and a low of 5,242.40
Leaders in the 30-share index were Hindalco Industries (7.39%), Jaiprakash Associates (5.79%), Sterlite Industries (India) (4.57%), Reliance Communications (3.51%), Grasim Industries (3.36%), and Sun Pharmaceutical Industries (3.03%).
On the other hand, Maruti Suzuki India (2.27%), Tata Motors (1.99%), ACC (1.37%), NTPC (1.08%), Reliance Industries (0.54%), and Hindustan Unilever (0.38%) were the top laggards in the Sensex pack.
Overall market breadth was positive. Out of the total 2,962 stocks traded at BSE, 1,780 advanced, 1,104 declined while 78 remained unchanged.
Among the sectoral indices, BSE Metal which gained 3.82%, Realty gained 1.14%, TECk climbed 0.94% and PSU gained 0.91%, while BSE Auto fell 0.25%.
On global front, European stocks declined after the Dow Jones Stoxx 600 Index rose to a 15-month high yesterday.
Asian stocks rose, lifting the MSCI Asia Pacific Index to a 16-month high after US manufacturing expanded at the fastest pace in more than three years and commodities gained.
New Listing
Equity shares of Godrej Properties, a part of Godrej Group, got listed on the bourses today. The shares of the company settled at Rs 534.55 a share, a premium of 9.09% against its issue price of Rs 490 a share on the Bombay Stock Exchange (BSE)
The scrip opened at Rs 510 a share and touched a high of Rs 586.70 a share and a low of Rs 500 a share. A total of 5,260,628 shares have exchanged hands. The scrip has been placed in the `B` Group and has been assigned the scrip code of 533150.
On NSE, the shares of the company settled at Rs 534.55 a share, a premium of 9.09% against its issue price of Rs 490 a share. The scrip opened at Rs 511 a share and touched a high of Rs 586.80 a share and a low of Rs 502.15 a share. A total of 8,707,481 shares exchanged hands
Turnover rises
JSW Steel January 2010 futures at discount
Nifty January 2010 futures were near spot price at 5,277, as compared to the spot closing of 5,277.90. Turnover in NSE's futures & options (F&O) segment surged to Rs 59,599.01 crore from Rs 42,559.47 crore on Monday, 4 January 2010.
JSW Steel January 2010 futures were at a slight discount at 1141 compared to the spot closing of 1142.20.
Hindalco Industries January 2010 futures were near spot price at 174.30 compared to the spot closing of 174.
Suzlon Energy January 2010 futures were near spot price at 92.65 compared to the spot closing of 92.40.
In the cash market, the S&P CNX Nifty rose 45.70 points or 0.87% at 5,277.90.
BSE Bulk Deals to Watch - Jan 5 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
5/1/2010 513149 Acrow India AFJALBHAI KASAMBHAI LAKHANI B 5001 140.00
5/1/2010 513149 Acrow India ASARAFBHAI MAJIDBHAI PANCHA B 5000 139.50
5/1/2010 513149 Acrow India AFJALBHAI KASAMBHAI LAKHANI S 5001 139.50
5/1/2010 513149 Acrow India ASARAF BHAI MAJIDBHAI PANCHA S 5000 140.00
5/1/2010 532664 Amar Remedies TRANSGLOBAL SECURITIES LTD. B 184196 61.85
5/1/2010 532664 Amar Remedies TRANSGLOBAL SECURITIES LTD. S 184196 61.94
5/1/2010 504629 Anil Special SAMTUL INVESTMENTS LTD S 200000 15.87
5/1/2010 531881 Arvind Chem NILESH EKNATH BHOIR B 151449 26.33
5/1/2010 531881 Arvind Chem NEHA GYANESHWAR SHARMA B 112108 27.11
5/1/2010 531881 Arvind Chem NEENA GYANESHWAR SHARMA B 106681 26.55
5/1/2010 531881 Arvind Chem NILESH EKNATH BHOIR S 151487 26.33
5/1/2010 531881 Arvind Chem NEHA GYANESHWAR SHARMA S 111746 27.08
5/1/2010 531881 Arvind Chem NEENA GYANESHWAR SHARMA S 106638 26.52
5/1/2010 503940 Asian Elect SHAH INVESTMENTS FINANCIAL DEV & CON PRIVATE LIMIT S 150000 40.78
5/1/2010 533138 ASTEC AANGI SHARES & SERVICES PVT. LTD. B 142102 88.97
5/1/2010 533138 ASTEC MATRIX EQUITRADE PVT. LTD. B 91102 89.28
5/1/2010 533138 ASTEC MATRIX EQUITRADE PVT. LTD. S 91102 89.43
5/1/2010 512149 Avance Tech JIGNESH CHANDRAKANT SHAH S 1269812 3.26
5/1/2010 512109 Aviva Inds AVIVA INDUSTRIES LTD B 43948 25.50
5/1/2010 512109 Aviva Inds SAVITA SHYAMSUNDER GUPTA S 20000 25.50
5/1/2010 512109 Aviva Inds NEETA SHREEPRAKASH GUPTA S 19950 25.50
5/1/2010 517973 DMC Intl SETU SECURITIES PVT LTD B 37517 27.00
5/1/2010 517973 DMC Intl HARISH GUPTA B 74531 26.83
5/1/2010 517973 DMC Intl CENTENARY SOFTWARE PVT LTD B 52098 26.85
5/1/2010 517973 DMC Intl SHARK COMMUNICATION PVT LIMITED B 49000 26.95
5/1/2010 517973 DMC Intl SETU SECURITIES PVT LTD S 37516 26.82
5/1/2010 517973 DMC Intl BHARAT GUPTA S 52870 27.00
5/1/2010 517973 DMC Intl CENTENARY SOFTWARE PVT LTD S 51700 27.00
5/1/2010 526473 Elegant Flori M/S YASH MANAGEMENT AND SATELLITE LTD S 36000 5.11
5/1/2010 500132 Empee Sugars HIREN KIRIT GANDHI B 282799 24.45
5/1/2010 530337 Exelon Infra KAMALA KANTA GUPTA B 55451 55.71
5/1/2010 530337 Exelon Infra ASHLESH GUNVANTBHAI SHAH B 36079 58.90
5/1/2010 530337 Exelon Infra MADHU CHHAPARIA B 24145 57.89
5/1/2010 530337 Exelon Infra BINA BHARAT SHAH B 25000 56.10
5/1/2010 530337 Exelon Infra KAMALA KANTA GUPTA S 55451 56.80
5/1/2010 530337 Exelon Infra ASHLESH GUNVANTBHAI SHAH S 26079 56.23
5/1/2010 530337 Exelon Infra I K PROJECTS PRIVATE LIMITED S 42314 59.00
5/1/2010 526614 Expo Gas VAISHALI M PATEL B 41175 13.49
5/1/2010 526614 Expo Gas BDS SHARE BROKERS PVT LTD B 47114 13.92
5/1/2010 526614 Expo Gas VAISHALI M PATEL S 41175 13.95
5/1/2010 526614 Expo Gas BDS SHARE BROKERS PVT LTD S 52113 14.01
5/1/2010 532666 FCS Software INNOVA ESERVICES PRIVATE LTD S 2400000 14.50
5/1/2010 532768 FIEM Inds ANUBONDH FINANCIAL SERVIC ES PVT LTD S 59835 115.40
5/1/2010 530077 Freshtrop Fruit OMSA CAPITAL ADVISORS PVT LTD S 50481 35.76
5/1/2010 533150 GODREJ PROP OPG SECURITIES P LTD B 450223 550.07
5/1/2010 533150 GODREJ PROP OPG SECURITIES P LTD S 450223 551.17
5/1/2010 511682 IFL Promoters CENTENARY SOFTWARE PVT LTD B 21623 9.35
5/1/2010 511682 IFL Promoters SHARK COMMUNICATION PVT LIMITED B 35000 9.35
5/1/2010 511682 IFL Promoters CENTENARY SOFTWARE PVT LTD S 20000 9.35
5/1/2010 511682 IFL Promoters DMC INTERNATIONAL LIMITED S 30000 9.35
5/1/2010 532894 Indowind Ener APURVA INTERNATIONAL B 280346 60.34
5/1/2010 531398 Inwinex Pharma PRAKASH K.SHAH SHARES & ESCURITIES PVT LTD. B 9279 9.28
5/1/2010 531398 Inwinex Pharma JIMIT JAIKISHAN RATHI S 10000 9.28
5/1/2010 523467 Jai Mata Glass GROWMORE PROPERTIES PVT LTD S 203360 2.69
5/1/2010 524330 Jayant Agro KANCHAN CHHABRA S 81683 117.53
5/1/2010 532283 Kaashyap Tech HITEN MEHTA B B 13978609 0.87
5/1/2010 532283 Kaashyap Tech PRIYESH ARVIND BHATT B 10100000 0.87
5/1/2010 532283 Kaashyap Tech JMP SECURITIES PVT LTD B 13309019 0.88
5/1/2010 532283 Kaashyap Tech HITEN MEHTA B S 10192553 0.88
5/1/2010 532283 Kaashyap Tech PRIYESH ARVIND BHATT S 5000000 0.90
5/1/2010 532283 Kaashyap Tech JMP SECURITIES PVT LTD S 13309019 0.88
5/1/2010 532283 Kaashyap Tech TAIB SEC MAURITIUS LTD S 15387761 0.86
5/1/2010 532925 Kaushalya Infra TRANSGLOBAL SECURITIES LTD. B 116478 27.43
5/1/2010 532925 Kaushalya Infra DB (INTL) OWN TRADING B 156321 26.28
5/1/2010 532925 Kaushalya Infra TRANSGLOBAL SECURITIES LTD. S 116478 27.12
5/1/2010 532925 Kaushalya Infra DB (INTL) OWN TRADING S 156321 26.15
5/1/2010 530255 KAY Power KAUSHALYA GARG B 59970 12.36
5/1/2010 526209 KS Oils TREE LINE ASIA MASTER FUND SINGAPORE PTE LTD B 5000000 68.50
5/1/2010 531731 Kuvam Intl PARVEEN KUMAR GOEL S 17000 50.70
5/1/2010 524000 Magma Fin NAMOKAR COMMERCIAL PVT LTD B 226605 161.92
5/1/2010 524000 Magma Fin CPIM STRUCTURED CREDIT FUND A 1500 LIMITED S 182003 160.19
5/1/2010 524000 Magma Fin CPIM STRUCTURED CREDIT FU:'ID A 20 LIMITED S 317997 160.84
5/1/2010 531515 Mahan Inds JASMIN S BAJORIYA S 34561 31.00
5/1/2010 532950 Manjushree Techno HITESH SHASHIKANT JHAVERI B 70000 51.25
5/1/2010 532950 Manjushree Techno HITESH SHASHIKANT JHAVERI S 70000 51.25
5/1/2010 532950 Manjushree Techno SECURITIES VSL S 75000 51.25
5/1/2010 531680 Mayur Leather NANJAPPA RANGAPPA S 28000 20.57
5/1/2010 526642 Mirza Intl ABHISHEK VIJAYKUMAR SHAH B 553232 16.85
5/1/2010 526642 Mirza Intl ABHISHEK VIJAYKUMAR SHAH S 1151658 16.77
5/1/2010 526642 Mirza Intl CALEDONIA INVESTMENTS PLC S 667166 16.80
5/1/2010 590090 Octant Inter ABSOLUTE LEASING & FINANCE PVT LTD S 132849 13.76
5/1/2010 531496 Omkar Overseas GAGAN OMPRAKASH ARORA B 26264 47.39
5/1/2010 511702 Parsharti Inv BHAVESH SHANTILAL TRIVEDI B 37000 34.58
5/1/2010 511702 Parsharti Inv PALAK AGENCY PVT LTD B 25783 35.54
5/1/2010 511702 Parsharti Inv NAVINBHAI M CHAUDHARY HUF B 18000 34.50
5/1/2010 511702 Parsharti Inv KRUPA SANJAY SONI S 28514 34.24
5/1/2010 511702 Parsharti Inv NAVINBHAI M CHAUDHARY HUF S 18000 35.90
5/1/2010 526588 Photoquip India ABHAY KUMAR MUNOTH B 32000 33.56
5/1/2010 526588 Photoquip India MEET TRADELINK B 88165 37.30
5/1/2010 526588 Photoquip India AMAR MUKESH SHAH S 29452 37.36
5/1/2010 526588 Photoquip India MEET TRADELINK S 110415 34.11
5/1/2010 531855 Prabhav Inds NATURAL EXPO AGRO INDUS LTD S 52000 48.10
5/1/2010 531855 Prabhav Inds ATREYA PETROCHEM LIMITED S 150000 48.10
5/1/2010 530047 Rai Saheb Rekh PARRK PETROCHEM P LTD B 25100 74.00
5/1/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 39020 33.51
5/1/2010 590077 Ranklin Sol R O BART B 27041 51.59
5/1/2010 590077 Ranklin Sol V MANIKYALA RAO B 41813 51.48
5/1/2010 590077 Ranklin Sol SATISH MORTHA B 28000 52.20
5/1/2010 590077 Ranklin Sol EMINENCE CAPITAL SERVICES S 50000 51.59
5/1/2010 507300 Ravalgaon Sugar RAHUL DOSHI B 599 10511.50
5/1/2010 507300 Ravalgaon Sugar RAHUL DOSHI S 949 10076.00
5/1/2010 533083 RISHABHDEV MAHESH MEETAL B 217377 17.85
5/1/2010 533083 RISHABHDEV ARIHANT SEC & INVESTMENT B 184286 17.78
5/1/2010 533083 RISHABHDEV NIRAJ HARSUKH SANGHVI B 150000 17.55
5/1/2010 533083 RISHABHDEV MAHESH MEETAL S 217377 17.64
5/1/2010 533083 RISHABHDEV CREDO INDIA THEMATIC FUND LIMITED S 200000 17.54
5/1/2010 533083 RISHABHDEV ARIHANT SEC & INVESTMENT S 184286 17.64
5/1/2010 533083 RISHABHDEV NIRAJ HARSUKH SANGHVI S 150000 17.68
5/1/2010 506172 Sampada Chem HARSHA BILVE B 27350 61.50
5/1/2010 506172 Sampada Chem KOPRAN LABORATORIES LTD S 44300 61.32
5/1/2010 506172 Sampada Chem SUSHEEL G SOMANI HUF S 29900 61.50
5/1/2010 531312 Sanraa Media JMP SECURITIES PVT LTD B 3651000 0.95
5/1/2010 532886 SEL Mfg Company OPG SECURITIES P LTD B 140269 90.14
5/1/2010 532886 SEL Mfg Company OPG SECURITIES P LTD S 140269 90.20
5/1/2010 512499 Shalimar Prod ANISHA KUMARI B 210000 1.63
5/1/2010 512499 Shalimar Prod ANANT PRAKASH KABRA S 217000 1.62
5/1/2010 531841 Subuthi Finance BALA VENCKAT KUTTI S 100000 27.15
5/1/2010 530595 Telecanor Glob ASHLESH GUNVANTBHAI SHAH S 33000 25.52
5/1/2010 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. B 144764 358.23
5/1/2010 533121 THINKSOFT CHIMANLAL POPATLAL MATALIA B 61321 359.44
5/1/2010 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. S 144764 358.14
5/1/2010 533121 THINKSOFT CHIMANLAL POPATLAL MATALIA S 61321 359.23
5/1/2010 517228 Trend Elect ASHOK KUMAR PARMAR S 42909 30.78
5/1/2010 526921 Twentyfirst Cent Mgt SIDDHARTH SUNDAR IYER B 250000 23.00
5/1/2010 526921 Twentyfirst Cent Mgt SHOBANA CHANDRA MOULI B 250000 23.50
5/1/2010 526921 Twentyfirst Cent Mgt TWENTYFIRST CENTURY MONEY GROWTH FUND LTD S 500000 23.25
5/1/2010 531874 Venus Ventures ANITHA YARLAGADDA S 84479 12.03
5/1/2010 524394 Vimta Labs MAYUR MANGALDAS KOTHARI S 200000 30.05
5/1/2010 531051 Vintage Sec MADHAB PRASAD JHUNJHUNWALA B 50088 6.03
5/1/2010 531051 Vintage Sec SUNIL SARAOGI S 43134 6.03
5/1/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR B 38166 377.18
5/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR B 40432 377.47
5/1/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR S 29508 377.56
5/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR S 43161 376.54
5/1/2010 531396 Women Networks CHAMPION TIE UP SERVICES PVT LTD B 23000 20.55
5/1/2010 505163 ZF Steering AMOLCHANDHIRACHAND MUNOT B 100000 240.00
5/1/2010 505163 ZF Steering MANIK RAMESHCHAND MUNOT B 49782 240.00
5/1/2010 505163 ZF Steering YASH MUNOT B 54445 240.00
5/1/2010 505163 ZF Steering AMITAJI NENDRAKUMAR MUNOT B 54445 240.00
5/1/2010 505163 ZF Steering PIYUSH MUNOT B 54445 240.00
5/1/2010 505163 ZF Steering JINENDRA H MUNOT B 54447 240.00
5/1/2010 505163 ZF Steering UTKARSH DINESHCHAND MUNOT B 150000 240.00
5/1/2010 505163 ZF Steering DINESHCHAN DHIRACHAND MUNOT B 185566 240.00
5/1/2010 505163 ZF Steering JAYASHREE ARUN FIRODIA S 322390 240.00
5/1/2010 505163 ZF Steering ARUN HASTIMAL FIRODIA S 90420 240.00
5/1/2010 505163 ZF Steering KINETIC ENGINEERING LTD S 428700 240.00
* B - Buy, S - Sell
Metals keep spirits up on second day
Today's major news
JSW Energy plans Rs40,000 crore investment; the stock shoots up 11.91%
MIC Electronics secures orders worth Rs14.15 crore; the stock closes 1.26% lower
Sadbhav Engineering bags project worth Rs1,350 crore; the stock rises 1.76%
Mahindra & Mahindra to sell Navistar trucks by March; the stock surges 1.86%
JSW Steel’s Q3 crude steel production grew by 88%; the stock jumps 10.82%
Click here for more mor stories
Events Update
Godrej Properties listed on the BSE at Rs510, at 5% premium on the issue price. The stock touched day’s low of Rs500 and day’s high was Rs586.70. In today’s trade, the stock closed at Rs534.55 up by 9.09% with a volume of 52,56,086 shares on the BSE.
Post-market summary
Global signals
The European indices opened weak. At the time of writing this report FTSE 100 was trading almost flat, only 0.03% higher.
Among major Asian indices, all the indices closed higher, except Kospi that fell marginally by 0.33%. SGX Nifty rose 31 points.
US stock futures opened marginally lower on Tuesday, as investors keep an eye on Auto & Truck Sales number for December and Pending Home sales number of November.
Indian indices
On strong overseas markets and robust buying in metals, Indian indices continued their northbound journey. The Sensex that opened 3 points lower at 17556 and never saw that level again. The day’s high was 17730. At finishing line, Sensex closed at 17686, 127 points higher. Nifty closed 46 points higher at 5278.
Market sentiment
The market breadth, the number of advancing shares to declining shares, was positive. Of the total 2,962 stocks traded on the BSE, 1,780 stocks advanced, whereas 1,104 stocks declined. Seventy eight stocks closed unchanged.
Sectoral & stock screening
Aluminium, copper or steel—it was the day of metals. The sector index, BSE Metal, was up by 3.82%. BSE Realty was up by 1.14%. The remaining indices bar BSE Auto that was down by 0.25% were up marginally.
National Aluminium Ltd (NALCO) was the star stock of the day being up by 14.84% for the day to be followed by JSW Steel that was up by 10.82% and MTNL that rose by 10.30%. On losers list, Videocon Industries topped, down by 2.83% at the closing, followed by Maruti Suzuki that fell by 2.27% and Central Bank of India that shed 2.12%.
Viewing volumes
IFCI, industrial finance company, saw highest trading with over 1.17 crore shares changing hands on the BSE, followed by Reliance Natural Resources (1.10 crore shares), wind turbine maker Suzlon Energy (0.98 crore shares), Ispat Industries (0.97 crore shares) and Essar Oil (0.64 crore shares).
Asian markets ends firm on Wall Street cues, higher commodity prices
Hang Seng, Shanghai, Sensex, Sydney edge higher while Seoul bucks the regional trend
Stock markets in Asian region finished with notable gains on Tuesday, 5 January 2010, following the positive close on Wall Street overnight, higher commodity prices and optimism about global economy prompting investors to step up buying across various sectors.
On Wall Street, stocks started off the New Year broadly higher as the major U.S. stock averages touched 52-week highs behind a spate of deals, soaring commodities and strong manufacturing data. The Dow Jones Industrial Average closed up 156 points, or 1.5%, to 10,584. The S&P 500 gained 18 points, or 1.6%, to 1133, and the Nasdaq added 39 points, or 1.7%, to 2308.
In the commodity market, crude oil traded near a 14-month high in New York as freezing weather in the U.S., the largest energy consumer, and improving global economies bolstered the outlook for fuel demand.
Crude oil for February delivery was at $81.97 a barrel, up 46 cents, in electronic trading on the New York Mercantile Exchange at 3:57 p.m. Singapore time. Yesterday, the contract rose 2.7% to $81.51 a barrel, the highest settlement since 9 October 2008.
Brent crude oil for February settlement was at $80.71 a barrel, up 59 cents, on the London-based ICE Futures Europe exchange at 3:57 p.m. Singapore time. Yesterday, the contract gained 2.8% to $80.12 a barrel, the highest settlement since 9 October 2008.
Gold rose in London, extending its biggest rally in two months, as a weaker dollar boosted the metal's appeal as an alternative investment. Gold for immediate delivery advanced as much as $6.75, or 0.6%, to $1,127.95 an ounce, the highest price since 17 December 2009. The metal traded at $1,126.53 at 9:22 a.m. London time. Gold for February delivery rose 0.8% to $1,127.30 an ounce on the New York Mercantile Exchange's Comex division.
In the currency market, the US dollar remained soft in Asian trading today as equities strengthen broadly following overnight rally in US markets. However, the Japanese yen manages to recovery strongly against dollar and European majors on speculation of large-sized buying on exporters' repatriation.
The Japanese yen strengthened against greenback and pound today on speculation Japanese exporters took advantage of its recent slide to buy their own currency. Japan's currency was quoted at 91.76 per US dollar as of the TSE close today from Monday's quote at Y92.50 per dollar in New York
The Hong Kong dollar was trading at HK$ 7.7558 against the dollar. Actually the Hong Kong dollar is pegged at HK$ 7.8 to the U.S. dollar but can trade between HK$ 7.75 and HK$7.85 to the U.S. dollar.
In Sydney trade, the Australian dollar hit a three-week high on Tuesday after firm commodity and share prices gave it a lift against a soft US dollar. Building on a sharp 1.7% jump in overnight trade - the biggest daily gain in over two months, the Aussie edged up further on Tuesday to a high of $US0.9164, before finishing local trade at $US0.9144, after closing yesterday at $US0.8978.
In Wellington trade, strong equity and commodities markets lifted the New Zealand dollar into 2010, following up on gains made last year. The kiwi closed the local trading session at US73.27c, up from US72.57c on the last day of last year. The kiwi reached a high of US73.60c, before falling back to US73.27c at 5pm.
The South Korean currency rose to the 1,140-won level against the U.S. dollar for the first time in about 15 months on Tuesday due to foreigners' appetite for risky assets. The local currency closed at 1,140.5 won to the greenback, up 1.25 percent or 14.3 won from the previous session, marking the strongest level in about 15 month. It also broke through the 1,150-won mark for the first time since Sept. 23, 2008 when the won hit 1,149 won per the dollar.
The Taiwan dollar strengthened further against the greenback. The Taiwan dollar was trading higher against the US dollar at NT$ 31.8600, 0.0380 up from Monday's close of NT$32.8980.
In equities, Asian stock markets ended mostly higher, bolstered by Wall Street's upbeat start for 2010 and strong commodity prices, while technology shares advanced on optimism for chip sales this year.
In Japan, the share market closed edged higher on bolstered confidence in the global economic recovery, helped by upbeat economic news from China and US manufacturing data for December. However, most of morning gains which briefly took the benchmark Nikkei to 15-month intraday high were trimmed by export related stocks after rapidly strengthening yen against US dollar.
At the closing bell, the Nikkei 225 Stock Average index was at 10,681.83, spurted 27.04 points or 0.25% from Monday's close, while the broader Topix of all First Section issues on the Tokyo Stock Exchange grew 3.82 points, or 0.42%, to 919.57.
On the economic front, the Bank of Japan revealed that the monetary base in the country rose 5.2% year-over-year during December, following an year-over-year rise of 3.8% in the month of November. The central bank further noted that banknotes in circulation were down an annual 0.3%, while coins in circulation fell 0.7% on year. The current account balance was up 53.6%, including a 47.4% annual increase in reserve balances.
In a separate statement, the Japan Automobile Dealers Association said auto sales increased for the fifth consecutive month in December. Domestic sales of new cars, trucks and buses increased 36.5% year-on-year in December. Automobile sales totaled 250,474 units in December, larger than 183,549 recorded in December 2008. However, for the calendar year 2009, automobile sales declined 9.1% to 2.92 million vehicles
In Mainland China, growing confidence about the global economy lifted China share market higher with broad based gains across the sector heavyweights. Commodity metal and energy related stocks led the way, helped by rising commodity prices. Brokerage firms outshine on hopes of China will launch its first stock index futures in the first quarter.
At the closing bell, the Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, grew 1.18%, to 3,282.18, while the Shenzhen Component Index on the smaller Shenzhen Stock Exchange fell 0.12% to 13,517.38. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, has gained 0.82%, to 3,564.06.
In Hong Kong, share spiraled up underpinned by a positive offshore lead and strong gains in financials, properties and commodity metal and oil stocks as investors confidence in the global economic recovery gaining momentum after upbeat manufacturing figures globally.
At the closing bell, the Hang Seng Index spurted 456.30 points, or 2.09%, to 22,279.58, meanwhile the Hang Seng China Enterprise, which tracks the overall performance of 43 mainland Chinese state-owned enterprises on the Hong Kong Stock Exchange, surged 391.48 points, or 3.07%, to 13,142.03.
In Australia, the shares market climbed at the end of trading session with strong gains in the sectors heavyweights, bolstered by signs the global economic recovery is gaining momentum after upbeat manufacturing figures from China, India, and US. At the closing bell, the benchmark S&P/ASX200 index spurted 48 points, or 0.98%, to 4,924.30, meanwhile the broader All Ordinaries surged 49.70 points, or 1.02%, to 4,939.50.
On the economic front, Australia's Housing Industry Association said in survey outcome that new home sale in Australia rose by 0.3% in November from previous month.
In New Zealand, equities commenced the first trading day of the year 2010 on the same positive note that it ended 2009. The benchmark NZX-50 index was up 38.04 points, or 1.16%, to 3268.19. Meanwhile, the NZX 15 gained 1.30% or 77.05 points to close at 5942.09
In South Korea, shares closed lower as the strengthening local currency prompted concerns about exporters' earnings prospects. The benchmark Korea Composite Stock Price Index (KOSPI) declined 5.52 points to 1,690.62, after briefly touching the 1700-mark in early trading.
In Singapore, signs of global economic recovery after upbeat manufacturing reports from the United States, China and India bolstered Singapore share market higher on the second trading day of the year. Soaring commodities and strong global manufacturing data buoyed up manufacturing and multi industries stocks. Financials and properties grew on as signs the global economic recovery is gaining momentum. At the closing bell, the blue chip Straits Times Index was at 2,920.28, grew 25.73 points or 0.89%.
In Taiwan, stocks inched up to a new 19-month closing high as investors bought Powerchip and other chip shares on hopes of rising PC demand. Helped by a Wall Street rally the main TAIEX share index rose as much as 0.9% by midday before ending up 3.55 points, or 0.04%, at 8,211.40, the highest close since 11 June 2008.
In Philippines, stock market closed higher on the back of positive cues from other Asian markets following the gains on Wall Street overnight, which boosted investor confidence. However, investors also took cues from the inflation figures, which accelerated to an eight-month high, limiting the upside move of the composite index. The benchmark index PSEi escalated 0.78% or 23.45 points to 3,028.46, while the All Shares index mounted 0.65% or 12.36 points to 1,909.22.
In India, the key benchmark indices rose for the second straight trading day of 2010, tracking firm Asian stocks. Fears of an immediate hike in interest rates by the central bank receded following comments from government officials. The BSE 30-share Sensex was up 127.51 points or 0.73% to 17,686.24. The Sensex gained 171.05 points at the day's high of 17,729.78; in early trade it's highest since 5 May 2008. The Sensex fell 2.96 points at the day's low of 17555.77 in early trade. The S&P CNX Nifty was up 45.70 points or 0.87% at 5277.90. It hit a high of 5,285.50; it's highest since 2 May 2008.
Elsewhere, Malaysia's Kula Lumpur Composite index finished slightly higher at 1288.24 while stock markets in Indonesia's Jakarta Composite index jumped 29.86 points ending the day lower at 2605.28.
In other regional market, stocks in Europe pulled back after the strong start to the year, with Cadbury dropping after Nestlé formally took itself out of the running for the U.K. chocolate maker by buying Kraft Foods' frozen business instead. The U.K. FTSE 100 gained 0.1% or 5.58 points to 5,506, the German DAX fell 0.1% or 7 points to 6,026.67 and the French CAC 40 lost 0.1% or 5.5 points to 4008.
Eros International plans to raise Rs 350 crore through IPO
To fund acquisition and co-production of Indian film rights
Media firm Eros International reportedly plans to raise Rs 350 crore through an initial public offer (IPO) and has filed a draft red herring prospectus with market regulator Securities & Exchange Board of India (Sebi) for the same. The public offer would be based on 100% book building process.
According to the draft red herring prospectus, Eros International is considering pre-IPO placement of shares worth Rs 20 crore with certain investors.
The company will use the funds to acquire and co-produce Indian film rights, primarily Hindi films, as also Tamil and other regional language films, and for general corporate purposes.
The Mumbai-based company is promoted by Eros International Plc and Eros Worldwide FZ LLC.
Sensex, Nifty at highest level in 22 months
The key benchmark indices rose for the second straight trading day of 2010 tracking firm Asian stocks. Fears of an immediate hike in interest rates by the central bank receded following comments from government officials. The BSE 30-share Sensex rose 127.51 points or 0.73%, off close to 45 points from the day's high. The Sensex and the 50-unit S&P CNX Nifty attained their highest closing level in more than 22 months.
Metal stocks soared as base metal prices surged on the London Metal Exchange on Monday, 4 January 2010. Realty and banking stocks, also rose. But index heavyweight Reliance Industries edged lower. Shares of two auto majors Tata Motors and Maruti Suzuki India fell on concerns competition will intensify in the small car market. The market breadth was strong.
The market surged at the onset of the trading session on firm Asian stocks. The Sensex and the 50-unit S&P CNX Nifty struck their highest level in 20 months. The market remained range bound in morning trade. The market pared gains in early afternoon trade. The market firmed up again later. The market moved in a narrow range in afternoon trade. The market pared gains soon surging at about 13:30 IST. A bout of volatility was witnessed once again in late trade.
Emerging market equity funds posted a record $64.5 billion in inflows in calendar 2009, helped by record flows into BRIC -- Brazil, Russia, India and China funds, global fund tracker EPFR said on Tuesday. The Chinese economy's return to robust growth also boosted Asia ex-Japan equity funds, which posted record inflows of $19.1 billion. Emerging market bond funds attracted record inflows of $8.2 billion.
Direct tax receipts during April-December 2009 rose 8.51% from a year earlier to Rs 250000 crore, the finance ministry said in a statement on Tuesday. The corporate tax receipts were up by 13.47% at Rs 167000 crore, while income tax paid by individuals declined by 0.41% at Rs 83178 crore, it said.
The government does not need to tighten monetary policy now and risk stalling a nascent economic recovery as inflation pressure was mainly caused by high food prices, the chief economic adviser to the finance ministry Kaushik Basu said on Monday. Basu also said Asia's third-largest economy was likely to return to 9% growth in the fiscal year 2010/11, after topping 7.5% in the current year to end-March. "You don't want to have an effect across the board, which increases unemployment, which holds back the growth rate," he said, adding inflation would "peter out" over a few months. "Right now, it is a sector-specific intervention that is needed, which is in food sector and that is what the government is doing," he said.
Basu said the economic rebound seen in the first half of the current year would continue in the December quarter, despite a poor farm output. Basu said India's high savings and investment rates would help sustain the recovery and an annual economic growth rate of 10% is possible within "a couple of years".
While Basu said there was no need to tighten policy at this juncture, the prime minister's economic adviser, C. Rangarajan, told to TV media on Tuesday that liquidity tightening may be needed. Rangarajan, however, said an adjustment in policy interest rates is not warranted at the moment. The Reserve Bank of India is set to hold its quarterly monetary policy review on 29 January 2010 and is widely expected to tighten cash reserve ratio (CRR) requirements for banks, with economists divided on when the central bank will raise policy rates.
The food price inflation was at 19.83% in the 12 months to 19 December 2009 on supply shortages after the weakest monsoon in 37 years, followed by floods in parts of the country that hit crops.
The Reserve Bank of India (RBI) has said it was worried about a spillover of higher food prices to other sectors, raising expectations of monetary tightening by the central bank to dampen inflationary expectations.
RBI deputy governor Shyamal Gopinath said on Monday there have been no concerns on capital inflows.
Meanwhile, the latest data showed that the rate of growth in manufacturing rose for the first time in three months in December 2009, with activity reaching its highest since May 2009 on sharp rises in new work and output. The HSBC Markit Purchasing Managers' Index (PMI), based on a survey of 500 Indian companies, rose to 55.6 in December from 53.0 in November. The reading was the strongest since May's 55.7, which was the strongest in 2009.
India's exports sector has bounced back with outward trade growing by 18% in November 2009, the commerce ministry said. The export figures turned positive after staying in the red for 13 months. The value of exports in November 2009 jumped to $13.19 billion compared to $11.16 billion.
Data last month showed that corporate advance tax payments for the October-December 2009 quarter shot up sharply, suggesting a higher profit growth in corporate sector in the third quarter (October-December) of the current fiscal. Corporate advance tax payments for the quarter were up 44% to Rs 48,300 crore against a 3.7% decline in April-June quarter and a 14.7% increase in July-September quarter. The company-wise break-up of advance tax collection suggests a broad-based recovery with automobiles, cement, metals and consumer goods, doing well.
European shares turned positive extending recent gains led by banks after reports Barclays may raise earnings guidance. The key benchmark indices in France and UK rose by between 0.04% to 0.34%. But Germany's DAX fell 0.15%.
Most Asian stocks rose on Tuesday led by electronics and mining companies, after US manufacturing expanded at the fastest pace in more than three years and commodity prices advanced. The key benchmark indices in China, Taiwan, Hong Kong, Indonesia, Japan, and Singapore rose by between 0.04% to 2.09%. But, South Korea's Seoul Composite fell 0.33%.
China's yuan is facing a new round of appreciation pressure and expectations of a stronger currency will attract speculative capital inflows, complicating liquidity management, a senior official said in comments published on Tuesday. Zhang Xiaoqiang, a vice-chairman of the National Development and Reform Commission, the country's powerful central planner, said quantitative easing in rich countries, a weakening dollar and China's economic recovery were set to create additional pressure on the Yuan .
Trading in US index futures indicated a flat opening of US stocks on Tuesday, 5 January 2010.
US stocks rallied to their highest levels in over a year on the first trading day of 2010 on Monday after a report that showed growth in the manufacturing sector. All the three benchmark indices hit 15 month highs. The Dow Jones Industrial Average gained 155.91 points, or 1.5%, to 10,583.96. The Standard & Poor's 500 index added 17.89 points, or 1.6%, to 1,132.99, while the Nasdaq Composite Index rose 39.27 points, or 1.7%, to 2,308.42.
In key economic data, the ISM's gauge of manufacturing showed growth for a fifth straight month, rising to 55.9 in December 2009 from 53.6 in November. Participants shrugged off the two-month old construction spending data that showed a slightly steeper-than-expected 0.6% monthly decline for November.
Updated International Monetary Fund (IMF) economic forecasts this month are likely to show "somewhat more upbeat expectations" about the world economy, the IMF's First Deputy Managing Director, John Lipsky said on Monday. John Lipsky, wrote in an IMF blog that the improved prospects are evident in economic data and financial markets and will be reflected in the IMF's World Economic Outlook expected later this month. He warned, however, there were many reasons to be cautious about the economic recovery underway.
The US Federal Reserve sees a moderate economic recovery continuing in 2010, but needs to keep interest rates "exceptionally low" for an "extended period" to foster job growth, a Fed policymaker said on Monday. Fed Governor Elizabeth Duke told an economic forum that slack in the economy was likely to remain above historical norms for some time, helping to keep inflation subdued. The Fed cut interest rates to near zero in December 2008 and created a host of emergency lending facilities to fight the worst recession in more than 70 years. It has pledged low rates for an extended period.
Fed watchers have focused on any changes in that language for clues to the timing of a possible tightening of monetary policy as the economy recovers. The FOMC maintained the "extended period" stance in its last statement on 15 December 2009.
Closer home, the BSE 30-share Sensex rose 127.51 points or 0.73% to 17,686.24, its highest closing since 28 February 2008. The Sensex gained 171.05 points at the day's high of 17,729.78, in early trade. The Sensex fell 2.96 points at the day's low of 17555.77 in early trade.
The S&P CNX Nifty rose 45.70 points or 0.87% at 5277.90 its highest closing since 28 February 2008. It hit a high of 5,285.50. Nifty January 2010 futures were near spot price at 5,277, as compared to the spot closing of 5,277.90. Turnover in NSE's futures & options (F&O) segment surged to Rs 59,599.01 crore from Rs 42,559.47 crore on Monday, 4 January 2010
BSE clocked a turnover of Rs 6815 crore, higher than Rs 6591.78 crore on Monday, 4 January 2010.
The market breadth, indicating the overall health of the market was strong. On BSE, 1774 shares advanced as compared with 1108 that declined. A total of 79 shares remained unchanged.
The BSE Mid-Cap index rose 1.2% and the BSE Small-Cap index rose 0.85%. Both the indices outperformed the Sensex.
Among the 30-member Sensex pack, 23 rose while rest declined.
India's largest private sector firm by market capitalisation Reliance Industries (RIL) fell 0.54%. The stock had declined 1.29% on Monday after firm raised Rs 2,675 crore selling shares held by its treasury to build a war chest probably to buy the bankrupt petrochemical major LyondellBasell.
RIL sold 2.58 crore treasury shares, created eight years ago following the merger of Reliance Petroleum with RIL, to state-owned Life Insurance Corporation, which is the largest institutional shareholder in the company with a 6% stake.
Metal stocks spurted after LMEX, a gauge of six metals traded on the London Metal Exchange, rose 1.75% on Monday, 4 January 2010. Steel makers rose as steel companies are reportedly eyeing higher prices in 2010 as stronger economic growth worldwide drives up demand for the critical building material. Tata Steel, Jindal Steel & Power, Bhushan Steel rose by between 2.3% to 2.39%.
Steel Authority of India (SAIL) rose 2.54% after gaining 3.14% on Monday after company reported a 32% growth in sales at 1.3 million tonne in December 2009 from a year ago
JSW Steel jumped 10.82% after the company's crude steel output soared 88% to 14.70 lakh tonnes in Q3 December 2009 over Q3 December 2008.
Recently, Tata Steel raised prices by Rs 2,000 a tonne, while state-owned Steel Authority of India (SAIL) withdrew the Rs 750-1,500 per tonne rebate it had started offering in November 2009, following the increase in raw material cost.
Among non ferrous stocks, Sterlite Industries, Hindustan Zinc, Hindalco Industries rose by between 2.63% to 7.39%.
National Aluminium Company rose 14.84%, on reports the state-run aluminium producer has hiked prices of rolled products by Rs 3,000 a tonne and other product prices by Rs 1,000 a tonne.
Rate sensitive realty stocks rose on reports realty sector holds promise in the year 2010 after a lackluster 2009. India's largest realty player by market capitalization DLF rose 1.36%. On 16 December 2009, the company's board approved merger of its commercial realty arm DLF Assets (DAL) with itself, a move aimed at repaying some of DAL's debt.
Among other realty stocks, Unitech, Housing Development & Infrastructure, Peninsula Land rose by between 1.45% to 5.04%.
Godrej Properties settled at at Rs 534.55, a premium of 9.09% over the initial public offer price of Rs 490. The stock opened at Rs 510, a premium of 4.10% over the initial public offer (IPO) price.
India's largest mobile services provider by sales Bharti Airtel rose 1.57% on reports the firm got an approval from Bangladesh's telecoms authority for its proposed $300 million investment in Abu Dhabi Group's Warid Telecom.
India's second largest mobile services provider by sales Reliance Communications rose 3.51%.
Banking stocks extended recent gains on reports credit offtake has picked up. According to the latest Reserve Bank of India (RBI) figures, total loans, including food credit loans to Food Corporation of India for foodgrain procurement and non-food credit (all other loans) amounted to Rs 29,41,293.07 crore as on 19 December 2009. This represents a sequential growth of Rs 34,028 crore since 27 November 2009 compared to a growth of Rs 7,698 crore in the whole of November 2009.
India's largest private sector bank by net profit ICICI Bank rose 0.98% as its ADR rose 2.78% on Monday. ICICI Bank has tied up with UK Trade and Investment to help Indian firms explore business opportunities in the British market. Through this tie-up, the bank will be able to provide value-added services such as training events and investment assistance to Indian firms looking at business opportunities in the UK. UK Trade and Investment is a government organisation that helps UK-based companies succeed in international markets.
India's largest bank by net profit and branch network State Bank of India was flat. The state-run bank paid advance tax of Rs 1795 crore versus Rs 1700 crore.
India's second largest private sector bank by net profit HDFC Bank rose 0.1% as its ADR rose 2.6% on Monday.
Drug maker Dr. Reddy's Laboratories rose 2.91% after the company said its Balaglitazone diabetes drug has met its primary target in the first of its phase 3 clinical trials. Balaglitazone reduced blood glucose levels over a period of time in the study conducted on 409 patients.
Among other health care stocks. Pfizer, Cadila Healthcare and Novartis India rose by between 0.63% to 2.62%.
Software pivotals rose on encouraging economic data from the United State. US is the biggest market for Indian IT companies. India's second largest software services exporter Infosys rose 0.22% as its ADR rose 2.7% on Monday. India's third largest software services exporter Wipro rose 1.61% as its ADR rose 1.57% on Monday. But, India's largest software services exporter TCS fell 0.11%.
The Indian rupee surged against the dollar on Tuesday boosted by gains in shares and higher Asian currencies. The partially convertible rupee was at 46.13/16 per dollar, above its close of 46.29/30 on Monday. A firm rupee adversely affects operating profit margins of IT firms as the sector derives a lion's share of revenue from exports.
India's largest engineering & construction firm by sales Larsen & Toubro rose 0.44%, gaining for the third straight day. The company said on Monday it won orders worth Rs 987 crore. The company said on Thursday 31 December 2009 it won two orders totaling Rs 580 crore.
Among other capital goods stocks, Bharat Heavy Electricals, BEML, Thermax and Praj Industries rose by between 0.35% to 1.76%.
India's largest thermal power generator by sales NTPC rose 0.5% on government's plan to divest stake in the firm.
Among other prominent power sector stocks, Tata Power Company, Reliance Power, Reliance Infrastructure, Torrent Power rose by between 0.51% to 1.17%.
Auto stocks were mixed. India's top truck maker by sales Tata Motors fell 1.99% on profit taking. Tata Motors registered 105% growth in sales to 51,627 units in December 2009 over December 2008.
India's top small car marker by sales Maruti Suzuki India fell 2.27% after managing director Shinzo Nakanishi said exports will be hit next year by removal of incentives in Europe. Nakanishi said there would be lower offtake from Nissan for exports as a result of the removal of incentives. Nakanishi said the company aims to keep operating margins at 10 percent in fiscal year 2009/10 but profitability will be impacted by a rise in raw material prices and a rise in the yen.
Maruti, posted a 51% rise in total sales in at 84,804 units in December 2009 over December 2008.
India's largest tractor marker by sales Mahindra & Mahindra (M&M) advanced 1.86%. M&M marked its entry on Monday into the heavy commercial vehicle (HCV) segment with its unveiling of 25 and 31 tonne trucks with its US-based joint venture partner Navistar Inc.
Mahindra & Mahindra, reported 122% rise in its domestic sales to 22,754 units in December 2009 over December 2008. The company sold a total of 24,001 vehicles (domestic plus exports) in December 2009 as against 11,172 vehicles sold in December 2008.
India's largest motorcycle maker by sales Hero Honda Motors rose 0.1%. Sales jumped 74% to 375,838 units in December 2009 over December 2008.
Bajaj Auto rose 0.24%. Bajaj Auto sold 2,20,429 two-wheelers in December 2009, registering an 85% growth in sales over the same month last year, when it sold 1,19,215 units.
TVS Motors fell 1.28% on profit taking after gaining 9.49% on Monday. Sales rose 34% to 119,701 units in December 2009 over December 2008.
Auto part makers rose after auto sales zoomed in December 2009 due to a recovering economy and burst of new launches. Bharat Seats, Lumax Industries, Sona Koyo Steering Systems, Steel Strips Wheels, Ahmednagar Forgings, Exide Industries, Munjal Showa, Subros, Bharat Forge, Amtek Auto and Automotive Axles rose by between 0.08% to 5%.
Consumer durables stocks gained on hopes of good earnings on the back of higher sales in Christmas. Rajesh Exports, Titan Industries, Asian Star Company rose by between 0.04% to 3.4%.
Sugar stocks soared as prices of the commodity rose sharply last week. Shree Renuka Sugars, Bajaj Hindusthan Sugar and Industries and Balrampur Chini rose by between 0.87% to 1.47%.
The Union government has allowed duty-free import of raw sugar to tide over the domestic production shortfall. In the 2008-09 season ending October 2009, domestic sugar output fell 42 per cent to 15 million tonne, causing retail sugar prices to more than double. Currently, sugar is selling at Rs 42-43 a kg in retail.
Kashyap Technologies clocked highest volume of 5.64 crore shares on BSE. JSW Energy (3.23 crore shares), Mahindra Satyam (2.18 crore shares), Cals Refineries (2.04 crore shares) and NHPC (1.66 crore shares) were the other volume toppers in that order.
JSW Energy clocked the highest turnover of Rs 364.81 crore on BSE. Godrej Properties (Rs 281.83 crore), Mahindra Satyam (Rs 232.10 crore), National Aluminum Company (Rs 158.38 crore) and Tata Steel (Rs 144.71 crore) were the other turnover toppers in that order.
IPO Grey Market Premium - DB Corp, Godrej Properties
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| D.B. Corp. | 212 (For Retail Investor Rs. 210) | 27 to 28 |
| Godrej Properties | 490 | 25 to 30 |
| MBL Infra | 180 | 10 to 12 |
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