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Tuesday, July 24, 2012
Mkts to open trade in red continuing yesterdays negative trend
The Indian markets may begin the trade on a lower note led by negative global peers. SGX Nifty is trading 12 points higher. Events for the day: Results: Ashok Leyland, Canara Bank, Container Corporation Of India, Ing Vysya Bank, Jindal Steel & Power, LIC Housing Finance, Lupin, Pidilite Industries, Sesa Goa, Torrent Power, Wipro, Shriram Transport Finance Co.
Sensex ends below 17k on weak rupee, global woes
The Indian markets had a tough ride today owing to Spain woes, sharp fall in rupee and road block to FDI in retail. The Sensex took a 281 points hit while the Nifty fell 87 points in trade today. Major Headlines of the Day: L&T hits weekly low after Q1 numbers Dabur India gains after posting Q1 numbers Crompton Greaves slides over 8% on margin concerns Debate on airwaves' reserve price still a spoilsport for telecom stocks Opposition denies FDI in multi-brand Rcom slips after Singapore IPO put on hold
Market hits 4-week low; breadth weak
Key benchmark indices fell for the second straight trading session to hit their lowest level in four weeks as stocks fell across the globe on renewed concerns over debt problems in Spain and Greece. The market breadth was weak. All the 13 sectoral indices on BSE were in the red. The barometer index, BSE Sensex, shed 281.09 points or 1.64%, off close to 170 points from the day's high and up about 30 points from the day's low. From a recent high of 17,278.85 on 19 July 2012, the Sensex has declined 401.50 points or 2.32% in two trading sessions. The Sensex has lost 552.63 points or 3.17% in this month so far (till 23 July 2012). The Sensex has jumped 1,422.43 points or 9.2% in calendar 2012 so far (till 23 July 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,741.49 points or 11.5%. From a 52-week high of 18,944.60 on 26 July 2011, the Sensex has lost 2,067.25 points or 10.91%.
Friday, July 20, 2012
Modest moments
The undertone is cautious yet a tad optimistic as investors examine corporate results and await announcements on pending reforms. FII flows have stayed positive this month. Be modest! It is the kind of pride least likely to offend. - Jules Renard. Indian markets have managed to rise modestly in the past three sessions amid a drop in volatility. The undertone is cautious yet a tad optimistic as investors examine corporate results and await announcements on pending reforms. FII flows have stayed positive this month. Monsoon deficit, sticky inflation and high twin deficits are among the negatives. The opening is likely to be slightly tepid as Asian markets are mixed this morning.
Market seen opening slightly lower; RIL result eyed
Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 8.50 points at the opening bell. Reliance Industries and Asian Paints unveil Q1 results today, 20 July 2012. The Central Statistics Office (CSO) will announce data on consumer price index (agricultural labourers/rural labourers) for June 2012 tomorrow, 20 July 2012. Asian stocks were mostly lower on Friday as weaker employment data in the US spoiled sentiment. In corporate news, Reliance Exploration and Production DMCC, a wholly owned subsidiary of Reliance Industries (RIL) has completed the transaction for divestment of its 80% working interest and operatorship in the production sharing contracts (PSCs) for the Rovi and Sarta Blocks in the Kurdistan Region to subsidiaries of Chevron Corporation.
Flat opening on cards; RIL nos eyed
Indian markets may open on a flat to negative note tracking mixed Asian cues. SGX Nifty is trading 6 points lower Events for the day: Results: Results: Asian Paints, Crompton Greaves, Hind Zinc, IB Financial Services, JSW Energy, Ultratech Cement, United Phosphorus, Zee Entertainment Enterprises.
Thursday, July 19, 2012
Decontrol of LPG and Diesel
The government is close to taking a decision on capping the number of subsidised LPG cylinders to “economically not weaker” sections to bring down the subsidies by up to Rs 10,000 crore annually, Minister of State for Petroleum and Natural Gas RPN Singh said today. The government is also looking at partial decontrol of diesel, he said. Singh said the government gives Rs 36,000 crore in subsidy on LPG and a lot of people who are “not economically weaker sections” and don’t require them, take benefit, adding, the government is looking at reducing the subsidy on LPG by capping the amount (number) of cylinders given on subsidy.
Why did CLSA upgrade Coal India?
Shares in Coal India rose 1.7 percent to Rs 360.20 after CLSA upgraded the stock to “outperform” from “underperform” and raises its target price to Rs 390 from Rs 340. CLSA said production has improved “substantially” in the April-June quarter and sees a “high” probability that fiscal 2012/13 targets will be met.
Daily News Roundup - July 19 2012
One person was killed and at least 90 were injured in a clash between workers and the managerial staff at Maruti Suzuki India’s Manesar plant, forcing stoppage of work. (BS) ONGC Videsh Ltd will team up with Petronet LNG and Indian Oil Corporation to bid for up to 20% stake in Russia’s Novatek LNG project. (BS) CRH Plc, Irish building materials group, has entered the fray to buy Jaiprakash Associates' cement plants in Gujarat and Andhra Pradesh, after the company's discussions with the AV Birla Group got stuck due to differences over valuation and other issues. (ET)
A little better
The human tendency to regard little things as important has produced very many great things.- Georg Christoph Lichtenberg. A little better morning is in store after the main Indian stock indices snapped a five-day losing streak on Wednesday. Global cues are pretty good and this could bring some gains at least early on in today’s session. Asian markets are mostly higher this morning. US equity benchmarks closed up as well, spurred by encouraging technology results and positive data on the housing sector. US housing starts jumped in June to the highest level in four years.
Markets expect a strong start on global support
Indian markets are set to begin on a positive note led by positive global cues. SGX Nifty is trading 52.50 points higher. Events for the day: Results: Dish TV India, Dr. Reddy's Laboratories, Hero Motocorp, Kotak Mahindra Bank, L&T Finance Holdings. Headlines for the day: TDSAT sets aside Rs50 cr penalty on telcos over SIM card issue. Violence at Maruti's Manesar plant, production affected. MTNL employees plan indefinite protest from Jul 24. Corporation Bank to seek more time to pare bulk deposits.
Market opens firm on positive Asian stocks; Maruti Suzuki slumps
The key benchmark indices open on a firm note on higher Asian stocks. The BSE Sensex was up 112.27 points or 0.65%. The market breadth was strong. Index heavyweights Reliance Industries (RIL) and ITC gained in early trade. India's largest car maker by sales Maruti Suzuki India lost close to 5% after the company stopped production at its Manesar, Haryana factory on Wednesday, 18 July 2012, after workers attacked managers at the plant and set fire to company property. Telecom stocks were mostly higher. Asian stocks rose on Thursday after strong US housing data overnight and after broadly reassuring comments from Federal Reserve Chairman Ben Bernanke in his second day of testimony to Congress on Wednesday, 18 July 2012.
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