IT stocks reboot on expectations of Fed stimulus for US economy

Key benchmark indices eked out marginal gains in volatile trade as world stocks rose amid hope weak Chinese manufacturing data could lead to fresh monetary easing from Beijing. Expectations of a possible further monetary policy easing from the US central bank aided gains on the bourses as minutes from the US Federal Reserve meeting on July 31-Aug. 1 showed that the central bank's policy committee discussed a third round of quantitative easing. US is the world's biggest economy and China is the second biggest. The Indian government's announcement on Wednesday of easing of rules regarding overseas borrowing by local companies also aided gains on the domestic bourses. The barometer index, BSE Sensex, advanced 3.38 points or 0.02%, off about 120 points from the day's high and up close to 60 points from the day's low. The market breadth was negative.

Reliance Industries

 Reliance Industries

Infosys Technologies

 Infosys Technologies

Sensex consolidates as global stocks cool off

After Tuesday’s smart rally, the Indian equity markets ended with modest losses amid weakness in global markets and due to concern about the fate of pending reforms. It was a listless session, as market participants looked for fresh catalysts to push the main indices higher from here on. The NSE Nifty did manage to surge past the previous day’s high though. However, the Nifty was stuck in a ~30-point trading band throughout the session. The index held on to the 5400 mark after opening below the crucial level, but was unable to surge past 5440. The Sensex ended at 17,846, down by 38 points or 0.2% over the previous close. It had earlier touched a day’s high of 17,912 and a day’s low of 17,800. It opened at 17,827.

BSE Bulk Deals to Watch - Aug 22 2012

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price ** 22/8/2012 512161 8K Miles Software VEDAWALA SANGITABEN PARESHKUMAR S 98434 22.40 22/8/2012 524412 Aarey Drugs DEEPIKA JASMIN SHAH B 158569 33.27 22/8/2012 504629 Anil Special-$ MAHALAXMI SAWS PRIVATE LIMITED S 111609 4.83 22/8/2012 514332 Anuvin Inds HEMANT B DESAI S 50000 10.79 22/8/2012 530233 Auro Lab SNEHALATHA SINGHI S 41322 6.55 22/8/2012 532797 Autoline Inds CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 131757 188.99 22/8/2012 532797 Autoline Inds V N G IMPEX PVT LTD B 83265 185.39 22/8/2012 532797 Autoline Inds AARKEN ADVISORS PRIVATE LIMITED S 70000 185.40

Mkts end flat with no major action; Bharti Airtel hogs the limelight

The Indian market closed today's trading session in the negative zone backed by weak domestic and global cues. The Sensex closed 38.40 points lower while the Nifty fell 8.15 points. Major Headlines of the Day: Bharti Airtel gets 2nd downgrade Just Dial files for IPO; plans to sell 9.55 million shares AGC Networks rallies 41% in past 1-month NSE removes NCC, SCI, South Indian Bank, Central Bank from F&O

Market snaps two day winning streak

Key benchmark indices snapped two day winning streak as global shares slipped on Wednesday as investors weighed up whether signs of progress in the euro zone debt crisis warranted the recent surge and as Japan's wider-than-expected trade deficit in July provided a reminder of the problems facing top economies. The barometer index, BSE Sensex, was down 38.40 points or 0.21%, up close to 45 points from the day's low and off about 65 points from the day's high. The market breadth turned negative form positive in late trade. Index heavyweight and cigarette maker ITC edged higher in volatile trade. Another index heavyweight Reliance Industries (RIL) edged lower in volatile trade. From a recent low of 17,657.21 on 16 August 2012, the Sensex rose 228.05 points or 1.29% in two trading sessions to settle at 17,885.26 on 21 August 2012. The Sensex has gained 610.68 points or 3.54% in this month so far (till 22 August 2012). The Sensex has jumped 2,391.94 points or 15.47% in calendar 2012 so far (till 22 August 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 2,711 points or 17.91%. From a 52-week high of 18,523.78 on 22 February 2012, the Sensex has lost 676.92 points or 3.65%.

Hattrick of marginal gains for Indian markets

The Indian markets registered marginal gains in a truncated week with the Sensex rising 0.76% and the Nifty up by 0.86% for the week ended August 17, 2012. Major Headlines of the week Inflation for July at 6.87% vs 7.25% in June India’s export slips 14.8% in July this year PMEAC lowers 2012-13 GDP forecast to 6.7% Jet fuel price up 3.2%; 3rd straight hike since July RBI should pay 7% interest on CRR deposits: Fin Ministry

Market may consolidate

The market may consolidate in a truncated week ahead amid lack of major triggers in the near term. The stock markets remains closed on Monday, 20 August 2012, on account of Ramzan Id. The progress of monsoon rains will be closely watched. The monsoon rains--which make up around 70% of India's annual rainfall--are crucial to the nation's agriculture sector and broader economy. More than 60% of the country's farmland is rain-fed. The India Meteorological Department (IMD) expects normal rains in August -- a critical month for summer crops. It expects rainfall to be 5-6% below average in September due to the possibility of El Nino. The weather office expects rainfall during August-September to be 91% of the long-term average.

IT, FMCG stocks advance

Key benchmark indices eked out small gains in choppy trade as euro zone debt worries eased after German Chancellor Angela Merkel on Thursday, 16 August 2012, said Germany will do whatever it can to keep the euro. The market sentiment was also boosted by data showing that foreign funds remained buyers of Indian stocks on Thursday, 16 August 2012. The barometer index, BSE Sensex, advanced 33.87 points or 0.19%, off 110.31 points from the day's high and up 68.46 points from the day's low. FMCG stocks rose on renewed buying, with Hindustan Unilever (HUL) and Bajaj Corp scaling record high and Tata Global Beverages hitting 52-week high. Index heavyweight and cigarette maker ITC recovered from Thursday's slide. IT stocks rose after tech-heavy Nasdaq Composite index rose 1% on Thursday, 16 August 2012. The Sensex has gained 454.90 points or 2.63% in this month so far (till 17 August 2012). The Sensex has jumped 2,236.16 points or 14.46% in calendar 2012 so far (till 17 August 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 2,555.22 points or 16.88%. From a 52-week high of 18,523.78 on 22 February 2012, the Sensex has lost 832.70 points or 4.49%.

Dish TV, Den Networks, Telecom, Hathway

Dish TV, Den Networks, Telecom, Hathway

Daily News Roundup - Aug 16 2012

Reliance Industries has proposed to drill the first exploration in almost five years in the flagging gas fields at its own cost. (BL) Reliance Industries is in talks with BP to buy its petrochemicals plant in Malaysia as it seeks to replicate its domestic success in building fully integrated operations in all its businesses. (ET) The US drug regulator is expected to inspect Aurobindo Pharma Ltd’s two manufacturing facilities in Andhra Pradesh during September-December. (BS) Cipla has launched ‘Qvir’, a four-drug kit priced at ~158 to be used for treating HIV/AIDS. (BS)

Overcoming challenges

Having a dream is what keeps you alive. Overcoming the challenges make life worth living. - Mary Tyler Moore Another Independence Day has come and gone. The Prime Minister has promised that the Government will work hard for India's rapid economic growth and for shielding the country from the effects of the global economic slowdown. Blaming lack of political consensus for the logjam in many issues the PM says the time has now come to view the issues which affect our development process as matters of national security. The opposition has termed the PM’s speech as lackluster and uninspiring.

Flat start on the cards

The Indian markets may open on a flat note led by mixed global peers. SGX Nifty is trading 0.50 points higher. Events for the day: Ex date for stock split of VTM. Ex date for final dividend of Bharti Airtel and Gail India. Headlines for the day: RIL proposes to drill KG-D6 probe well at own cost. GAIL eyes stake in Russia's planned LNG plant. CCI allows merger of India Securities with Essar Capital. Indian Indices: The Indian markets may begin the trade on a flat note tracking mixed global cues. SGX Nifty is trading 0.50 points higher. Jupiter Infomedia, a web infomedia company with online publications on business, encyclopedia and yellowpages, will list its equity shares on BSE SME platform today. On Tuesday (August 14, 2012), the Sensex settled at 17728, up by 94 points while the Nifty closed at 5380, rising by 32 points. Global Indices: Asian stock markets steadied on Thursday (August 16, 2012) as the investors took the sidelines, waiting for more clues over the timing and extent of any further stimulus to tackle the euro zone's debt crisis and support global growth. European shares ended flat on Wednesday (August 15, 2012), consolidating after a recent strong rally and held back by weaker mining stocks after downbeat results from Eurasian Natural Resources. US stocks finished the day roughly flat as investors juggled an unexpected contraction in domestic manufacturing activity and a mixed batch of corporate earnings. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs361.60 crore on August 13, 2012. The domestic investors sold Indian shares worth a net of Rs66.00 crore on August 13, 2012. The data is as per the SEBI website. Commodity Cues: Oil prices surged to their highest level in three months on Wednesday following a report of a steep drop in US oil stockpiles and fresh tensions in the Middle East.

Market seen extending recent gains on positive Asian stocks

The market is likely to open higher on positive Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 11 points at the opening bell. Asian stocks rose on Thursday as investors await further cues from the central banks of any further stimulus to revive global economic growth. India's largest private sector aluminum producer by capacity Hindalco Industries' US unit Novelis Inc on Tuesday, 14 August 2012 posted lower quarterly revenue as shipments fell and aluminum prices remained weak. The Atlanta-based aluminum product maker's revenue fell 18 percent in the first quarter to $2.6 billion. Net income rose to $91 million from $62 million a year earlier as the company set aside less money for income tax during the quarter. Shipments of aluminum-rolled products dipped 6 percent to 722 kilotonnes during the latest concluding quarter. Average aluminum prices declined $626 per tonne in the first quarter compared to the same period last year.