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Tuesday, September 25, 2012
Sensex struggles to a flat close…Metals fall, FMCG gain
The main Indian equity benchmarks ended with slender gains on Tuesday at the end of another rangebound session, as market participants continued to be cautious after pushing the BSE Sensex to 14-month high recently. Earlier, the main Indian indices had opened with a slightly positive gap, outperforming other Asian peers as the Government continued to take important policy measures aimed at restoring business confidence in a slowing economy. Shares of select power-related companies gained after the Cabinet on Monday unveiled steps to address the power sector's long-standing problems.
BSE Bulk Deals to Watch - Sep 25 2012
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price ** 25/9/2012 524412 Aarey Drugs DEEPIKA JASMIN SHAH B 161668 48.99 25/9/2012 524412 Aarey Drugs DEEPIKA JASMIN SHAH S 186200 48.36 25/9/2012 524412 Aarey Drugs AJITKUMAR JOGENDARPRASAD SINGH S 90301 49.87 25/9/2012 531568 Ashutosh Paper NIKHIL BANSAL S 60000 42.50 25/9/2012 506285 Bayer Crop BILAG INDUSTRIES PRIVATE LIMITED B 5982948 1002.85 25/9/2012 506285 Bayer Crop BAYER CROPSCIENCE AKTIENGESELLSCHAFT S 4082948 1002.85
Markets end with modest gains
Indian stocks rose marginally higher with no major action on the D street owing to profit booking and selling pressure backed by subdued global cues Sensex rose 21 points and the Nifty gained 4 points in today's trade. Major Headlines of the day: 3 oil cos’ bid $5 billion for ConocoPhillips oil assets IFCI sells shares of Ansal Properties Banks to meet KFA on Sept 27 to discuss plan of action FDI up 60% to $1.76 bn in July United Spirits confirms in talks with Diageo; stk up over 4%
Market ekes out small gains
Key benchmark indices eked out small gains as index heavyweights ITC and Reliance Industries (RIL) edged higher. The barometer index, BSE Sensex, advanced 21.07 points or 0.11%, up about 58 points from the day's low and off close to 96 points from the day's high. Data showing that foreign funds remained net buyers of Indian stocks on Monday, 24 September 2012, underpinned sentiment. The market breadth was positive. BSE Small-Cap and Mid-Cap indices both outperformed the Sensex. The Sensex has gained 1,264.85 points or 7.26% in this month so far (till 25 September 2012). The Sensex has jumped 3,239.49 points or 20.96% in calendar 2012 so far (till 25 September 2012). From a 52-week high of 18,866.87 on 21 September 2012, the Sensex has fallen 172.46 points or 0.91%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 3,558.55 points or 23.51%.
Monday, September 24, 2012
Daily News Roundup - Sep 24 2012
BPCL which is setting up its first propylene unit in Kochi, said it is ready to offer 51% stake in the Rs60bn project to its Korean joint venture partner LG Chemicals. (ET) After cutting its base rate by 25 basis points, State Bank of India reduced its benchmark prime lending rate (BPLR) by a similar margin. The public sector bank’s BPLR now stands at 14.5%. (BS) Diageo Plc is in advanced talks to buy a stake in United Spirits. (BS) Reliance Industries and its partner BP plan to surrender two more exploration blocks, reducing their tally to 14 from 21 a year ago. (ET)
Changing times
Sometimes, the times we can’t change end up changing us. – Anonymous. UPA, which had promised plenty but had delivered little until recently, finally decided to shun inertia and restore some credibility by unleashing a slew of ‘reforms’. The question now is whether these are the real reforms our economy badly needs? Brace for a few capital market-friendly steps to keep FIIs interested in India. Insurance, IT, Telecom and NBFCs could see some action amid reports that the Centre might ease certain rules to boost these sectors. The opening is not likely to be good though, with global cues not being supportive. Asian stock benchmark has retreated from a four-month high. US stock indices on Friday broke a two-week winning streak. European stock markets moved higher on reports Spain may be preparing the ground for a bailout request.
Market may open lower on weak Asian stocks
The market may open lower on weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 25 points at the opening bell. Volatility may remain high this week as traders roll over positions in the futures & options (F&O) segment from the near month September 2012 series to October 2012 series. The September 2012 F&O contracts expire on Thursday, 27 September 2012. Asian shares edged lower on Monday, with metal-related firms weak, while some Japanese stocks suffered from a rising yen and growing tension between China and Japan. State Bank of India (SBI) Saturday, 22 September 2012, said it has cut its benchmark prime lending rate by 25 basis points to 14.5% per annum with effect from 27 September 2012. The announcement comes close on the heels of the bank cutting its base rate by 25 basis points to 9.75% with effect from 20 September 2012.
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