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Tuesday, December 27, 2011
Daily News Roundup - Dec 27 2011
The government has decided to regulate natural gas marketing charges levied by companies such as RIL and Gail India to protect domestic consumers. (ET)
TCS is not pursuing the acquisition of Lufthansas IT arm actively anymore on concerns of profitability and hassles of reaching an agreement with the airlines labour union. (ET)
NTPC commissioned the Super Critical Unit 2 of 660MW of NTPC-Sipat Super Thermal Power Project situated in Chhattisgarh, taking its total installed capacity to 36,014MW. (BL)
Bharati Shipyard said its board has approved a Rs28.5bn corporate debt restructuring program. (ET)
Sensex cracks double ton…Ends near 16k
After a breather on Friday, the Indian market resumed its up-trend on Monday, kicking off the last trading week of the year on a positive note. But, trading volumes were light due to year-end Christmas holidays. Both the main stock indices closed near session highs. Another encouraging aspect of today’s trade was that the breadth held up pretty well. The Sensex came within a hair’s breadth of 16,000 while the Nifty was within striking distance from 4800. Also, there was hardly any intraday choppiness that one associates with trading in the F&O expiry week. Markets opened higher and moved further up in the morning trade. The trajectory remained the same throughout the afternoon trade as well before the final flourish that lifted the indices to new day’s high.
India was among the few Asian markets opened for trading today while the rest were closed for the extended Christmas holiday. Most European markets and US markets are shut today as well. Japanese shares managed to close higher, as they resumed trading after Friday’s close. Their Chinese counterparts ended in the red. Stock indices in Taiwan and South Korea also finished lower. Markets in Asia had hardly any news to respond to, except an agreement between Japan and China to strengthen relations in the financial sector. The trading was underpinned by continued hopes of stability in the US economy amid ongoing worries about the European debt crisis.
Weather cool, Politics hot!
It doesn't matter if the water is cold or warm if you're going to have to wade through it anyway - Teilhard de Chardin.
Mercury has dipped across the country, especially in North India, but the political heat is all set to escalate. The showdown between Team Anna and the Government is likely to continue as Anna Hazare begins his three-day agitation in Mumbai. The Parliament will also resume the winter session to debate the New Lokpal Bill.
The Centre could find it tough to pass the Bill given the opposition to several clauses. Also, it doesn’t seem to have the requisite numbers in the Rajya Sabha. A host of Opposition amendments await the Government as it seeks to get the Lokpal Bill passed in Parliament over the next three days.
Flat start on the cards
It is likely to be a flat opening tracking quiet Asian indices. With not much news to trade on, the markets are expected to remain rangebound and volatile.
Headlines for the day:
Bharati Shipyard approves Rs2,854-cr CDR plan
SAIL, Kobe to sign pact for Bengal plant on Dec 28
Suzlon promoters pledge 1.68% stake
Areva board okays name change to 'Alstom T&D India'
RBI to issue Rs500 note with Re symbol
PNB raises NRE deposit rates to 9.25%
Events for the day
Ex-date for dividend of Tricom India
Monday, December 26, 2011
Sensex makes smart gains, closes 232 points higher
The Indian markets stayed higher all throughout the day, with the Sensex closing 232 points higher and the Nifty up by 65 points.
Headlines for the day
Telecom stocks up after TDSAT stayed DoT 3G roaming ban order
Tea stocks surge on higher tea prices
Cairn India jumps on rise in crude oil
Tata Motors to replace starter motor in Nano
Nifty January 2012 futures above 4800
Turnover declines
Nifty January 2012 futures were at 4802, at a premium of 23 points compared to spot closing of 4779. Nifty December 2011 futures were at 4783, near spot closing of 4779. Turnover on NSE's futures & options (F&O) segment declined to Rs 115801.15 crore from Rs 130308.16 crore on Friday, 23 December 2011.
State Bank of India (SBI) December 2011 futures were at 1669.90, at a premium over spot closing of 1664.50.
Sensex, Nifty near 2-week highs
Key benchmark indices reached their highest closing level in nearly two weeks as strong economic data in the US boosted sentiment. US is the world's biggest economy. The barometer index, BSE Sensex, came within striking distance of the psychological 16,000 level in late trade. The Sensex provisionally jumped 232.05 points or 1.47%, up about 210 points from the day's low and off close to 30 points from the day's high. Volumes were thin as major Asian markets viz. Hong Kong and Singapore, and European markets were closed for holidays. Except BSE Healthcare index, all the other 12 sectoral indices on BSE were in the green. The market breadth was strong.
Saturday, December 24, 2011
Markets rise after 2-weeks steep slide
The Indian markets surged this week after falling heavily for the two straight weeks. The Sensex rose by 1.6% and the Nifty up by 1.34%.
Headlines for the week
Food inflation eases to 1.81% vs 4.35%
Kingfisher Airlines drops to No.5 position in market share
Inflation seen easing to 6-7% by March: Pranab
RBI may lower GDP projection this fiscal: Subbarao
Govt introduces the Food Security Bill on cheaper food grains
Cabinet approves anti-corruption bill
Market may remain volatile ahead of F&O expiry
High volatility is expected next week as traders roll over positions in futures & options (F&O) segment from the near-month December 2011 series to January 2012 series. The near-month December 2011 F&O contracts expire on Thursday, 29 December 2011.
Foreign institutional investors (FIIs) have been sellers in domestic equities recently. The slowing domestic economic growth, high fiscal deficit, current account deficit and government's policy inaction remain a cause for concern.
BSE Small-Cap, Mid-Cap indices slide over 1% each
Key benchmark indices managed gains as investors resorted to bargain hunting after recent steep slide in share prices. The latest data showing food inflation easing sharply to a near four-year low also aided sentiment. Easing of inflation may prompt the central bank to cut interest rates to revive sagging economic growth. The market fell in three out of five trading sessions in the week gone by.
The food inflation eased sharply to 1.81% in the year to 10 December 2011, from an annual 4.35% rise in the previous week, government data showed on Thursday, 22 December 2011. The fuel inflation remained unchanged at 15.24% in the latest week compared with the prior week, data showed, while the primary articles price index rose 3.78%, compared with an annual rise of 5.48% in the previous week.
Market snaps two-day winning streak
Key benchmark indices edged lower after hitting one-week highs as data showing selling by foreign funds continuously over the past few days hurt sentiment adversely. The BSE Sensex was down 74.66 points or 0.47%, off 172.53 points from the day's high and up 67.42 points from the day's low. Index heavyweight Reliance Industries (RIL) lost over 1% in choppy trade. IT stocks were mixed after strong economic data in the US, the biggest outsourcing market for IT services exporters.
The market today, 23 December 2011, snapped a two-day advance. The Sensex had jumped 638.28 points or 4.2% in the preceding two trading sessions to one-week closing high of 15,813.36 on Thursday, 22 December 2011, from a 28-month closing low of 15,175.08 on 20 December 2011. The Sensex has fallen 384.76 points or 2.38% so far this month. The Sensex has slumped 4,770.39 points or 23.25% in calendar 2011. From a 52-week high of 20,664.80 on 3 January 2011, the Sensex has lost 4,926.10 points or 23.83%. From a 52-week low of 15,135.86 on Tuesday, 20 December 2011, the Sensex has risen 602.84 points or 3.98%.
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