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Monday, August 22, 2011
Crude continues with its downward slide
Prices shed almost 4% on a weekly basis
Crude prices ended little lower on Friday, 19 August 2011 at Nymex. Prices continued to drop as global recession fears resumed. The day at Wall Street did not feature any economic data. Worse than expected economic data in most cases a day earlier exacerbated weakness in the market as investors feared that US will once again enter into another recession and the global economic recovery will be doomed. Thus oil prices dropped in tandem with US equities on fears of future demand concerns.
Sunday, August 21, 2011
India and China continue to fuel gold demand: WGC
Gold’s strong start to the year was reinforced during the second quarter of 2011 where total global gold demand measured 919.8 tonnes (t), worth a near-record US$44.5bn, with broad-based support across all sectors and geographies. Standout markets were India and China, as these two markets accounted for 52% of total bar and coin investment and 55% of global jewellery demand, the World Gold Council announced today.
And, the turmoil continuesin world markets.....
After few days of relief, world equity markets slumped anew amid no sign of a rebound in the US economy and lingering worries over the eurozone debt problems. The market turmoil was sparked by renewed fears of major financial upheavals in Europe, and growing concerns that the US might slipping into another recession. Morgan Stanley slashed its global growth outlook for 2011 and 2012, adding that the US and Europe are hovering dangerously close to a recession. The Wall Street bank estimates expansion of 3.9%, down from a previous forecast of 4.2%. Citigroup cut its 2011 GDP growth forecast for the US economy while Deutsche Bank lowered its outlook on China.
Weekly Newsletter -Aug 21 2011
Another volatile week saw the main indices lose 4.5% apiece, as a global bloodbath dampened the sentiment even as worries prevailed about the moderation in the domestic economy. Morgan Stanley pruned its global growth forecast and warned that the US and Eurozone are close to being in recession. It also cut GDP projection for India as well as China. Talking of economy, India’s Q1 FY12 GDP report will be out on August 31. But before that we will have to contend with the F&O expiry next week.
It will be tough to call the market’s direction from here on given the heightened volatility and worsening global economic conditions. Only a sustained and solid recovery in the overseas markets can lift the pall of gloom. For that to happen, the markets need consistent dose of good news in terms of economic data and decisive policy action. For the time being the outlook appears murky and therefore calls for a measured approach. However, one may look at quality, long-term stories as valuations have come off quite a bit.
Anna Hazare at Ramlila Maidan for a 15-day stir
Anna Hazare walked out of the famous Tihar Jail on Friday morning and landed at the Ramlila Maidan to begin a 15-day fast protest for a stronger Lokpal Bill. The anti-corruption crusader is already on a hunger strike ever since he was sent to the Tihar Jail on Tuesday. Hazare is believed to have lost as much as three kilos in the last three days of his hunger strike. His blood pressure, however, remained under control at 88/160. En route to Ramlila Maidan, he stopped to pray at Mahatma Gandhi's memorial at Rajghat. He bowed his head and spent a few minutes there before making his way to India Gate.
Markets sink 4 % in painful week on global massacre
Tumbling trend continued on the Dalal Street for fourth week due to panic selling among the investors on concerns of global recession and sovereign debt crisis in Europe
Major news for the week
July inflation at 9.22% versus 9.44%
IT shares take heavy beating on US recession fears
RBI expects GDP growth at 8% to tame inflation
Educomp Solutions tumbles on I-T raid
DLF plunges as CCI imposes penalty
Friday, August 19, 2011
BSE Bulk Deals to Watch - Aug 19 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
19/8/2011 523395 3M India HDFC MUTUAL FUND S 75000 4700.00
19/8/2011 530187 Atharv Enter KUSUM DHIRAJ VORA B 39675 18.85
19/8/2011 530187 Atharv Enter PALLAVI PINKESH VORA B 40000 19.08
19/8/2011 530187 Atharv Enter MAPAEX INVESTMENTS PRIVATE LIMITED S 75000 18.85
NSE Bulk Deals to Watch - Aug 19 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
19-AUG-2011,BEDMUTHA,Bedmutha Indust Ltd,INVENTURE GROWTH & SECURITIES LIMITED,BUY,150000,122.98,-
19-AUG-2011,DCHL,Deccan Chronicle Hold Ltd,DECCAN CHRONICLE HOLDINGS LTD - BUY BACK ORD-WRONG CODE,BUY,1467790,65.99,-
19-AUG-2011,ESSDEE,Ess Dee Aluminium Limited,IRONWOOD INVESTMENT HOLDINGS,BUY,469900,239.98,-
19-AUG-2011,INVENTURE,Inventure Gro & Sec Ltd,ALFA FISCAL SERVICES PVT LTD,BUY,268271,194.62,-
19-AUG-2011,INVENTURE,Inventure Gro & Sec Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,235984,192.19,-
Global turmoil drags Sensex 328 points lower
Global recession concerns and financial crisis in Europe led panic selling across the world. The Sensex plunged 328 points and the Nifty lost 99 points
Major headlines
IT shares take heavy beating on US recession fears
ONGC beats RIL to become India's second-most valued firm
FY12 GDP growth seen at over 8%: Ahluwalia
Market may remain volatile ahead of F&O expiry
The market may remain choppy as traders rollover positions in the futures & options (F&O) contracts from the near-month August 2011 series to September 2011 series. The near-month August 2011 derivatives contracts expire on Thursday, 25 August 2011.
The market sentiment remains edgy due to sustained selling by foreign funds. FIIs have sold shares worth Rs 8053.88 crore this month, till 18 August 2011, as per data from the stock exchanges. There was a massive outflow of Rs 5279.30 crore in just three trading sessions between 5 August 2011 and 9 August 2011.
Sensex tumbles 14.4% in 18 trading sessions
A fresh setback in world equities weighed on Indian shares for yet another day as the key benchmark indices reached 14-1/2-month closing lows. Nevertheless, the barometer index the BSE Sensex regained the psychological 16,000 mark after a sharp fall pulled the index below that level in mid-afternoon trade. The Sensex tumbled 328.12 points or 1.99%, up 153.90 points from the day's low and off 146.05 points from the day's high. The market breadth was weak. Twelve out of 13 sectoral indices on BSE declined. Stocks fell across the world on fears over global economic growth and the health of Europe's banking system.
Market skids to 14-1/2-month low on selling by FIIs
Key benchmark indices fell in 3 out of 4 trading sessions in truncated week to hit 14-1/2-month lows weighed by sustained selling by foreign investors. Investors investing in India are worried that higher interest rates will restrict corporate profit growth. Commercial banks have raised lending rates over the past few days after the Reserve Bank of India (RBI) late last month raised its key lending rate by a steeper-than-expected 50 basis points at a policy review. Three top commercial banks, State Bank of India, ICICI Bank and HDFC Bank, last week, raised lending rates by half a percentage point. The sell-off in global equities on worries about the health of the world economy also dampened sentiment. The 50-unit S&P CNX Nifty fell below the psychological 5,000 mark.
Why Young Investors Should Stick With Stocks
The occasional, inevitable stock market crash tends to drive some investors away -- some more permanently than others. Alas, those who stay away will probably wish they hadn't, especially if they head for the exits while they're still young.
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Daily News Roundup - Aug 19 2011
Hotel Leelaventure plans to raise about Rs10bn through a share sale to institutions by December to trim its debt pile. (BS)
ICICI Bank will now offer loans that gives a choice of fixed rate for either one or two years, at differential rates for various slabs. (ET)
Mahindra & Mahindra Ltd will roll out a sub-four metre compact model of Verito which is expected to attract only 10% excise duty instead of the earlier 22%. (BS)
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