Crude Oil

 Crude Oil 

Market drifts lower amid initial volatility

A bout of volatility was witnessed in early trade as key benchmark alternately swung between gains and losses. The barometer index, BSE Sensex, was down 24.54 points or 0.15%, up about 10 points from the day's low and off close to 35 points from the day's high. The market breadth was positive. Cement stocks extended recent gains triggered by Prime Minister's thrust on infrastructure sector. Index heavyweight Reliance Industries (RIL) edged higher in early trade. At 09:30 IST, the BSE Sensex was down 24.54 points or 0.15% to 16,838.26. The index fell 34.49 points at the day's low of 16,828.31 in early trade. The index rose 12.23 points at the day's high of 16,875.03 in early trade. The S&P CNX Nifty was down 3.75 points or 0.07% to 5,112.15. The index hit a low of 5,106.20 and a high of 5,122.45 in intraday trade.

Daily News Roundup - June 13 2012

Maruti Suzuki India Ltd approved a proposal to merge group unit Suzuki Powertrain India Ltd with itself. (BS) Mahindra Satyam will soon finalise its legal course of action on the Rs12.3bn claims by IL&FS Engineering and Construction Company. (BS) The first phase of the proposed 6mt greenfield steel project of Tata Steel at Kalinga Nagar in Jajpur district will be ready by March 2014. (BS) Ashok Leyland is targeting 5 country clusters — West Asia, Africa, CIS, Asean and Latin America — to either export to or start local operations. (BL)

Sensex ignores IIP as rate cut hopes soar

The main Indian equity benchmarks recovered from a slow start and downbeat IIP data to post solid gains, with the NSE Nifty ending above 5,100. Things went completely opposite today on Indian bourses as compared to Monday when a bright start was marred by the S&P bombshell. Today, the main indices started lower but recovered soon after the release of the IIP data for April on hope that the RBI will announce further policy easing in order to revive the faltering Indian economy. Rate sensitive sectors such as Banks, Real Estate, Auto and Capital Goods led from the front. Pharma index was the only sector that closed in the red. The INDIA VIX was down more than 3%. Surprisingly, the market breadth was only slightly positive as the broader indices didn’t do quite as well as their Large-Cap peers. The BSE Sensex ended at 16,862, up nearly 200 points, or 1.2% from the previous close after being as high as 16,897 and as low as 16,553. It had opened at 16,570.

Flat opening…Tight band continues

A leader is one who knows the way, goes the way, and shows the way. - John C. Maxwell. Industry voices are getting louder against the lack of political leadership in our country. Forget about reforms, even normal decision-making appears to have come to a standstill under UPA II. This needs to change, and change fast before it is too late. The Nifty has been trading in a tight band of 5000 - 5150 and a move above 5150 should confirm the end to the near term downtrend. The start is likely to be subdued as Asian markets are trading mixed owing to lingering worries about the ongoing debt crisis in the eurozone. Markets in Europe managed modest gains though while the US indices notched strong gains.

Flat start on the cards

Today’s start is expected to be on a positive note tracking supportive Global cues. SGX Nifty is trading 2.50 points lower. Events for the day: Ex-date for stock split of Alpha Graphic India. Ex-date for final dividend of Birla Corporation. Headlines for the day: RIL warns of further output drop if govt disapproves budget. Ashok Leyland to raise Rs750 cr via private placement. Finance Ministry pitches for cut in CRR by Reserve Bank. SBI expects Reserve Bank to cut CRR by 1%.

Nifty hits 5-1/2-week high

Key benchmark indices continued uptrend to hit fresh intraday highs in late trade on expectations the Reserve Bank of India (RBI) will cut interest rates at mid-quarter monetary policy review on 18 June 2012 to prop up slowing economy after the latest data showed industrial production grew just 0.1% in April 2012. The 50-unit S&P CNX Nifty hit 5-1/2-week high. The barometer index, BSE Sensex, hit five-week high. The Sensex was provisionally up 182.97 points or 1.1%, up about 295 points from the day's low and off close to 45 points from the day's high. The market breadth turned positive from negative in late trade. Interest rate sensitive banking, realty and auto stocks extended recent gains on expectations the Reserve Bank of India (RBI) will cut interest rates at mid-quarter monetary policy review on 18 June 2012 to prop up slowing economy after the latest data showed industrial output grew just 0.1% in April 2012. Index heavyweight Reliance Industries (RIL) edged higher in volatile trade. Shares of power generation firms rose for the fourth straight day as Prime Minister Manmohan Singh on Wednesday, 6 June 2012, laid out ambitious infrastructure development plans for the current fiscal year which includes plans to add a record 18,000 megawatts (MW) of power capacity this year.

Infoedge, Mindtree

 Infoedge, Mindtree 

BSE Bulk Deals to Watch - June 11 2012

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price ** 11/6/2012 530027 Aadi Inds RUSHABH SHAH S 75000 9.17 11/6/2012 530713 AJEL TILOTTAMA HOLDINGS PVT.LTD B 100000 5.13 11/6/2012 530713 AJEL KANODIA INVESTMENT ADVISORY PVT. LTD. S 100000 5.13 11/6/2012 507525 Amrit Corp-$ USHA BHUPENDRA SANGHAVI B 60000 306.00 11/6/2012 507525 Amrit Corp-$ BHUPENDRA GOKALDAS SANGHAVI B 60000 306.00 11/6/2012 507525 Amrit Corp-$ DECENT FIN SER (P) LTD S 77336 306.01 11/6/2012 507525 Amrit Corp-$ SHUB LABH INDIA MARKETING AND CONSTULTANTS PRIVATE LIMITED S 46357 306.00

NSE Bulk Deals to Watch - June 11 2012

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks 11-JUN-2012,CEBBCO,Commercial Eng & Co. Ltd,RP COMPUTER FORMS PVT LTD,BUY,285000,71.00,- 11-JUN-2012,CEBBCO,Commercial Eng & Co. Ltd,SS CORPORATE SECURITIES LIMITED,BUY,300000,71.00,- 11-JUN-2012,HDIL,Housing Development and I,GENUINE STOCK BROKERS PVT LTD,BUY,2515126,74.87,- 11-JUN-2012,LAKPRE,Lakshmi Precision Screws,SHIVSWAROOP GUPTA,BUY,165000,40.00,- 11-JUN-2012,LITL,Lanco Infratech Limited,SUNTECK WEALTHMAX CAPITAL PRIVATE LIMITED,BUY,18979224,14.00,- 11-JUN-2012,NIPPOBATRY,Nippo Batteries Co. Limit,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,49444,443.06,- 11-JUN-2012,PEARLPOLY,Pearl Polymers Ltd,CHAND SETH,BUY,574840,10.15,- 11-JUN-2012,PEARLPOLY,Pearl Polymers Ltd,PACIFIC PEARL FINANCE & LEASING LTD,BUY,662500,10.15,- 11-JUN-2012,PEARLPOLY,Pearl Polymers Ltd,PEARL TELEFONICS LIMITED,BUY,662500,10.15,- 11-JUN-2012,ARSSINFRA,ARSS Infra Proj. Ltd,IFCI LTD.,SELL,207103,55.83,- 11-JUN-2012,CEBBCO,Commercial Eng & Co. Ltd,NEW YORK LIFE INVESTMENT MANAGEMENT INDIA FUND FVCI II LLC,SELL,1200520,71.00,- 11-JUN-2012,HDIL,Housing Development and I,GENUINE STOCK BROKERS PVT LTD,SELL,2515126,74.89,- 11-JUN-2012,LAKPRE,Lakshmi Precision Screws,RELIANCE MUTUAL FUND,SELL,249345,40.00,- 11-JUN-2012,LITL,Lanco Infratech Limited,SUNTECK WEALTHMAX CAPITAL PRIVATE LIMITED,SELL,19045614,14.01,- 11-JUN-2012,NIPPOBATRY,Nippo Batteries Co. Limit,CROSSEAS CAPITAL SERVICES PVT. LTD.,SELL,49444,445.68,- 11-JUN-2012,PEARLPOLY,Pearl Polymers Ltd,BETA FINANCE & TRADING PRIVATE LTD.,SELL,1325000,10.15,- 11-JUN-2012,PEARLPOLY,Pearl Polymers Ltd,HARISH SETH,SELL,574840,10.15,- 11-JUN-2012,SB&TINTL,SB&T International Ltd,THE FEDERAL BANK LTD,SELL,99950,5.01,- 11-JUN-2012,TWL,Titagarh Wagons Limited,GOYA LIMITED,SELL,141040,302.14,-

A good day ends with a bad mood; S&P threat cracks mkts

It was a complete turn around during the last few minutes of trade as S&P threatened to give India a non-investment grade rating. Markets slipped and ended in red with Sensex falling 51 points and Nifty down by 14 points. Major Headlines Will India be the first BRIC fallen angel? Car sales in India up just 2.8% in May Govt to introduce DTC Bill in next Parliament session BPCL, Videocon gain on reports of higher reserves in Rovuma basin

Market snaps five-day winning streak after S&P warning

Key benchmark indices snapped five-day winning streak after global rating agency Standard & Poor's warned that India could become the first BRIC nation to lose its investment-grade rating if the South Asian country doesn't revive its growth and push the pedal on reforms. The barometer index, BSE Sensex, was down 50.86 points or 0.3%, up close to 40 points from the day's low and off close to 225 points from the day's high. The market breadth was positive. The Sensex had risen 753.71 points or 4.72% in five trading sessions to settle at 4-1/2-week closing high of 16,718.87 on Friday, 8 June 2012, from a recent low of 15,965.16 on 1 June 2012. The Sensex has risen 449.48 points or 2.77% so far in this month (till 11 June 2012). The barometer index has gained 1,213.09 points or 7.84% in calendar 2012 so far (till 11 June 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,532.15 points or 10.12%. From a 52-week high of 19,131.70 on 8 July 2011, the Sensex has lost 2,463.69 points or 12.87%.

Market may extend five-day winning streak on firm Asian stocks

The market may extend nearly 5% gains clocked in previous five trading sessions on strong Asian markets. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 42.50 points at the opening bell. Asian stock markets surged today, 11 June 2012 after euro zone finance ministers agreed to lend the Spain up to $125 billion to shore up its struggling banks. Dr Reddy's Laboratories will replace DLF in the benchmark 30-share Sensex with effect from today, 11 June 2012. Key benchmark indices rose for the fifth straight trading session and attained their highest closing level in 4-1/2 weeks on Friday, 8 June 2012 on hopes the Reserve Bank of India (RBI) will cut interest rates at mid-quarter monetary policy review on 18 June 2012 to prop up slowing economy. The BSE Sensex advanced 69.82 points or 0.42% to 16,718.87, its highest closing level since 7 May 2012.

Daily News Roundup - June 11 2012

BHEL may not join hands with RINL and MECON Ltd for the proposed Rs20bn JV that plans to set up a factory at Vizag for manufacturing steel for core sectors. (BS) Sahara Infrastructure and Housing announced 10 lifestyle township projects, including nine self-sufficient integrated townships under the brand name of ‘Sahara City Homes’ and ‘Sahara Grace’ in Lucknow. (BS) Arvind Ltd's management threatened strict legal action if the workers fail to turn up for work. (BS) Bank of India and Exim Bank plan to establish presence in Myanmar through branches and representative offices, to push Indian investments and support growth in bilateral trade. (BS)

Less pain in Spain

Numbing the pain for a while will make it worse when you finally feel it. - JK Rowling. Suddenly, Spain now rhymes better with gain than pain. World markets had a good week after a long time amid optimism of emergency policy action from policymakers in the face of deteriorating growth prospects. Some of that optimism faded a wee bit after the ECB and the Federal Reserve refrained from announcing any fresh stimulus. However, mounting expectations of a bailout for struggling Spanish banks managed to keep the tempo going. Over the weekend, the eurozone finance ministers agreed to lend Spain up to US$125bn to shore up its ailing lenders, giving further fillip to the global ‘risk-on’ trade. China’s exports in May topped analysts’ estimates while industrial output and retail sales trailed forecasts. China’s market is rather subdued this morning in the wake of weekend release of important economic data while other Asian markets have posted decent gains. The euro and crude oil are also up.