Crude inches up

Crude ekes out quarterly gains but incurs monthly losses Crude-oil futures at Nymex inched higher on Friday, 30 March 2012. With Friday's gains, prices managed to recoup at least some of their recent steep losses. Light and sweet crude oil for May delivery rose 24 cents, or 0.2%, to settle at $103.02 a barrel on the New York Mercantile Exchange on Friday. It managed to end the quarter with gains of 4.2%. The quarterly advance follows a 25% increase in the fourth quarter of 2011, and gains of 8.2% for 2011. On the month, oil lost 3.8%, the worst result since September. Disappointing U.S. data, reverberations from a massive weekly increase in supplies, and talk of a release from emergency oil supplies of several developed countries also contributed to the bearish tone that had gripped the oil market most of the week.

Grey Market Premiums - NBCC, MT Educare

ompany Name	Offer Price (Rs.)	Premium (Rs.)	Kostak (Rs. 1 Lac Application)	Kostak (Rs. 2 Lac Application)	Kostak (Rs. 5 Lac Application)
REC	1000	-12 to -15 (Discount)	--	--	--
NBCC	106	3 to 3.50	--	--	--
MT Educare Ltd	74 to 80	5 to 6

Market may open slightly lower

Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 13 points at the opening bell. Tata Motors reported a 20% jump in total vehicle sales at 1,00,414 units in March 2012 over March 2011. Mahindra & Mahindra (M&M) posted a 25% increase in sales at 47,001 units in March 2012 over March 2011. Airline stocks and shares of PSU OMCs will be in action as state-owned oil companies on Saturday hiked jet fuel price by about 3%, the third time they have increased rates in March month. The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was hiked by Rs 1,850.96 per kilolitre (kl), or 2.8%, to Rs 67,800.30 per kl from 31 March 2012. Key benchmark indices surged on the last trading session of Q4 March 2012 and the year ended March 2012 (FY 2012) on Friday, 30 March 2012 after Finance Minister Pranab Mukherjee said holders of participatory notes, or P-notes, will have no tax liability in India on the investments they make in the local equity market. The BSE Sensex jumped 345.59 points or 2.03% to settle at 17,404.20, its highest closing level since 21 March 2012.

Daily News Roundup - Apr 2 2012

Reliance Power proposes to take its solar capacity to 300 MW by 2015, with an investment of Rs 60bn. (BL) Syndicate Bank plans to open 200 branches during the 2012-13 fiscal.(BL) Seven years after entering into a 50:50 partnership, Zee group is close to buying out Dainik Bhaskar (DB) Corp from Diligent Media Corporation, which publishes DNA, the daily English language newspaper.(BS) Parsvnath Developers may soon be able to reduce a significant chunk of its debt, thanks to certain corporate giants showing interest in buying a prime piece of property it owns in the national capital.(BS) Oil and Natural Gas Corporation (ONGC) is to shortly sell stake in its four coal-bed methane (CBM) blocks to companies which have bid for this.(BS)

All is well, at start

The ability to concentrate and to use time well is everything - Lee Iacocca Everything appears fine at start for the day thanks to the overseas cues and positive push last week. Markets broke a five week declining trend post FM announcement that the government does not intend to levy any tax on the holders of participatory notes. However will the respite for bulls continue in this truncated week? The overhang of the GAAR issue continues to persist. Rising crude oil prices and expanding current account deficit also remains a major dampener for the investors. In the coming week watch out for the FII flows, which have tapered off due to confusion over GAAR. Results will be important as well, and so will be the data on IIP and inflation. The RBI meet on April 17 will be the biggest event for our market. The talk of a fuel price hike continues to loom over the investors and traders mind for quite sometime now. The remaining Budget session will be a stormy affair if indeed there is a fuel price hike. Global markets might remain choppy and rangebound in the absence of big-ticket catalysts.

Markets to see green on the first trading day of FY13

Headlines for the day M&M March sales up 25% R-Power plans over Rs6K cr investment in Rajasthan Aviation sector contributes 0.5% of GDP Govt allows Titan to import gold directly Oil cos may lose Rs2 lakh cr in fuel sales this fiscal FII inflows into Indian stocks touch $9 bn this year Events for the day Monthly auto sales and cement dispatches Release of import and export data

SGX Nifty Live Update Apr 2 2012

5315.75 -13.00 (-0.24%)

NBCC, MT Educare

Company Name	Offer Price (Rs.)	Premium (Rs.)	Kostak (Rs. 1 Lac Application)	Kostak (Rs. 2 Lac Application)	Kostak (Rs. 5 Lac Application)
REC	1000	-12 to -15 (Seller)	--	--	--
NBCC	106	3 to 3.50	--	--	--
MT Educare Ltd	74 to 80	5 to 6

MT Educare IPO subscribed 4.44 times

Gets bids for 4.88 crore shares The initial public offer (IPO) of MT Educare, an education support and coaching services provider, was subscribed 4.44 times by 16:00 IST on the last day of bidding for the issue today, 29 March 2012. The IPO received bids for 4.88 crore shares. The price band for the issue was fixed at Rs 74-80 a share. The IPO comprised of fresh issue of Rs 35 crore and an offer for sale of up to 80 lakh equity shares by Helix Investments Company which is a private equity (PE) fund. Helix had pumped in Rs 32.80 crore in MT Educare in 2007.

Daily News Roundup - March 30 2012

Independent directors oppose Coal India's fuel supply pacts. (BL) Essar Oil Ltd has completed the Rs83bn capacity expansion of its Vadinar refinery. (BL) Engineers India Ltd has signed an MoU with Nalco Water India Ltd, a subsidiary of Nalco. (BL) Ashok Leyland has said that it will form a separate subsidiary as it explores expansion into the aerospace business with global partners. (BL) Tata Motors has raised prices of its commercial vehicles (CV) by upto Rs0.06mn effective March 17. (BL)

Sensex, Nifty survive 200-DMA test

In the end, it was a fairly subdued F&O expiry session for the Indian markets. The good thing is that the key stock indices managed to claw their way back towards the close of trade to end near day's peak. They still closed with marginal losses. There was some intraday volatility but not a great deal with the Bank Nifty witnessing short rollovers. After a gap down opening, the Indian equity benchmarks turned choppy and remained in a narrow range in the first half. However, the bulls turned the tide in late afternoon trade, with the main indices almost erasing all of the losses thanks to selective buying in Pharma and Auto stocks. The BSE Sensex ended at 17,058, down 63 points or ~0.4% over the previous close. It had earlier touched a day’s low of 16,920 and a day’s high of 17,109. It opened at 17,039. The NSE Nifty settled at 5,179, down 16 points or 0.3% over the previous close. It earlier touched a day’s low of 5,136 and day’s high of 5,194. The INDIA VIX on the NSE ended lower by 2.2% to close at 24.33. It hit day's high of 25.86. It hit a day's low of 24.19.

The Good, the bad and the ugly

"Bad news travels fast." - American Proverb. While the start may be higher the ratio of good news to bad news is skewed towards the latter. Risky assets are still maintaining some of this year’s gains, but market players are looking for incremental good news. The Budget hasn’t been able to perk up the mood. If anything, some of the ugly proposals such as the GAAR provisions have spooked the markets. Mind you, we haven't heard or read the last word on this controversial issue as yet. The FM’s attempt at fiscal consolidation has not evoked a favourable response either. Bond yields have actually climbed and a rate cut on April 17 is not a certainty now. The rupee is once again feeling the heat from rising twin deficits, moderating FII inflows and high crude oil prices.

Mixed finish for Bullions

Silver shines but gold drops for third straight day Bullion metal prices mixed on Thursday, 29 March 2012 at Comex. Gold prices ended lower for third straight day while silver prices rose. Comex gold futures ended the U.S. day session modestly lower on some follow-through selling pressure from solid losses posted on Wednesday. There was downside pressure on most raw commodity futures markets, including the precious metals. The key “outside markets” were also bearish for the precious metals on Thursday, as the U.S. dollar index was steady and crude oil prices were sharply lower. Gold for June delivery ended lower by $5.6 or 0.3%, to end at $1,654.9 an ounce on the Comex division of the New York Mercantile Exchange on Thursday. The metal had struggled for direction earlier, veering between small gains and losses. Prices shed 1.7% on the month of February 2012.

Market seen firm in opening trade; Tata Motors watched

The market is likely to see a firm start on Friday, 30 March 2012. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 14 points at the opening bell. Asian markets were trading mixed. Tata Motors on Thursday reportedly hiked prices by up to Rs.60,000 per unit on its entire range of commercial vehicles following hike in excise duty in the Union Budget 2012-13. The company hiked the prices of its commercial vehicles by 2-5% considering hikes in excise duty on vehicles and chassis. The hike was with effect from 17 March 2012. The board of Coal India (CIL) on Thursday, 29 March 2012, failed to finalise the fuel supply agreements a (FSA) due to production constraints. Key benchmark indices edged lower for the second straight day on Thursday, 29 March 2012 as weak global stocks weighed on sentiment. The BSE Sensex lost 63.01 points or 0.37% to settle at 17,058.61, its lowest closing level since 26 March 2012. Volatility was high as traders rolled over positions in the futures & options (F&O) segment from the near-month March 2012 series to April 2012 series ahead of to the expiry of March 2012 contracts. The March 2012 derivatives contracts expired on Thursday, 29 March 2012.

Markets to witness a subdued start

The Indian markets may open on a flat to positive note on account of SGX Nifty trading 16 points higher and positive global cues. Headlines for the day Petrol pump operators threaten strike. Unitech defends it right to seek arbitration. Muthoot Estate can't accept public deposits: RBI.