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Friday, November 09, 2012
Better trades of the day - Nov 9 2012
Global Cues: The European shares closed lower on Thursday (November 08, 2012), FTSE100 down by 0.27%, CAC40 fell by 0.06% and DAX slipped by 0.39%. The US stocks closed lower on Thursday. Dow Jones down by 0.94% and Nasdaq fell by 1.42%. Events for the day: Results: State Bank of India, Coal India, Tata Steel, PFC, Corporation Bank, CESC, Eicher Motors. Glaxosmithkline Pharmaceuticals, Max India, Tata Chemicals, Apollo Hospitals Enterprises, BPCL, Neyveli Lignite Corporation, HPCL, Pantaloon Retail (India), Videocon Industries, Aurobindo Pharma, Essar Oil, United Spirits, IOC, Suzlon Energy, Sun TV Network, Jindal Steel & Power, Lanco Infratech, Pipavav Defence & Engineering Company, Gitanjali Gems, HDIL. Stock in news: DHFL cuts home loan rates. GTL Infra restructures FCCBs worth $300 mn. DoT starts issuing notices to telcos for false revenue reports. Sun Pharma to buy Dusa for Rs1,250 cr.
Market snaps six-day winning streak
Key benchmark indices edged lower in choppy trade, with investors worried about US and European fiscal health. United States is the world's biggest economy. The barometer index, BSE Sensex, lost 56.15 points or 0.3%, up close to 110 points from the day's low and off about 20 points from the day's high. The market breadth was negative. Index heavyweight Reliance Industries (RIL) cut intraday losses in late trade. Index heavyweight and cigarette major ITC edged lower in choppy trade. Indian stocks today, 8 November 2012, snapped six-day winning streak. The Sensex had jumped 471.56 points or 2.55% in six trading sessions to settle at 18902.41 on Wednesday, 7 November 2012, from a recent low of 18,430.85 on 30 October 2012. The Sensex has surged 3,391.34 points or 21.94% in calendar 2012 so far (till 8 November 2012). The Sensex has gained 340.88 points or 1.84% in first six trading sessions of November month. From a 52-week high of 19,137.29 on 5 October 2012, the Sensex has declined 291.03 points or 1.52%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 3,710.40 points or 24.51%.
Monday, November 05, 2012
Indian markets end with modest gains ahead of US elections
The Indian markets chose to remain subdued on the back global cues ahead of the US Presidential elections. The Sensex and the Nifty rose 7 points each in trade today. Headlines of the day: Reliance Power Q2 consolidated net profit up by 2% Crompton Greaves hits monthly low post Q2 nos CEAT bursts post Q2 nos; stk hits monthly low India's service sector growth for October hits 6 mth low
Market ekes out marginal gains
Key benchmark indices logged marginal gains in a choppy trading session. The barometer index, BSE Sensex, advanced 7.42 points or 0.04%, up 79.62 points from the day's low and off 31.76 points from the day's high. Index heavyweight Reliance Industries (RIL) edged lower in volatile trade. Another index heavyweight and cigarette maker ITC extended gains in late trade. Car major Maruti Suzuki scaled 52-week high. The market breadth was negative. BSE Small-Cap and Mid-Cap indices both edged lower. Indian stocks rose for the fourth straight trading session today, 5 November 2012. From a recent low of 18,430.85 on 30 October 2012, the Sensex has jumped 332.02 points or 1.8% in four trading sessions. The Sensex has surged 3,307.95 points or 21.4% in calendar 2012 so far (till 5 November 2012). The Sensex has gained 257.49 points or 1.39% in first three trading sessions of November month. From a 52-week high of 19,137.29 on 5 October 2012, the Sensex has declined 374.42 points or 1.95%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 3,627.01 points or 23.96%.
Friday, November 02, 2012
Daily News Roundup - Nov 2 2012
L&T Construction has won new orders valued at over Rs10.6bn across various business segments in October. (BL) SAIL expects to expand its production capacity to 18mn tons by the end of current financial year, as it plans to commission two new blast furnaces. (BL) Oil India Ltd has started drilling operations in Gabon, South Africa for hydrocarbon exploration. (BL)
Broadbased recovery…Nifty above 5600 for 2nd day
Finally, the Indian stock market has broken away from the one day up, one day down sequence. The benchmarks have eventually managed to extend its gains for the second consecutive trading session. Markets ended almost near day’s high as participants cheered the PMI data. The HSBC India Manufacturing Purchasing Managers' Index (PMI) a measure of factory production stood at 52.9 in October slightly up from September, when it was 52.8. The upswing was led by a broad based recovery in sectors across the board. The Consumer Durables index, up 5.5% followed by BSE Auto index up 2.2%, BSE Realty index up 1.8%, BSE Power index up 1% and BSE Pharma index up 0.9%.
Markets coming alive
Don’t ask what the world needs. Ask what makes you come alive and go do it. Because what the world needs is more people who have come alive – Howard Thurman. The world seems to be on a gaining spree as far as equity markets are concerned. The Indian indices will continue their winning ways with added momentum today powered by the strong global cues. The HSBC India Manufacturing Purchasing Managers' Index (PMI) stood at 52.9 in October slightly up from September, when it was 52.8. Consumer confidence in US climbed last month to a more than four-year high.
Markets give positive start on strong global cues
The Indian markets ring the opening bell in the green terrain as the global peers look supportive. The Sensex and Nifty are trading with good gains. Buying is visible across the board. Among the 13 sectoral indices, the BSE realty is up 1.5%. Metal, capital goods, bankex, power, auto, FMCG and PSU indices are also up around 1% each. The broader markets are in-line with the benchmark indices. The BSE mid-cap and small-cap indices are up 0.7% each. The overall breadth stands positive. From the earnings front, India's third-largest IT services company, Wipro announces its consolidated net profit of Rs1,610 crore for the quarter ended 30th September 2012. At 10.00 am, the Sensex was trading at 18708.85, 148 points higher and the Nifty was trading at 5689, up by 44 points.
Market surges on upbeat US economic data
Key benchmark indices jumped in early trade on upbeat US economic data released overnight. United States is the world's biggest economy. The market breadth was strong. All the 13 sectoral indices on BSE were in green. The barometer index, BSE Sensex, was up 141.78 points or 0.76%, off about 50 points from the day's high and up close to 10 points from the day's low. Index heavyweight, Reliance Industries (RIL) rose after the Ministry of Petroleum & Natural Gas after trading hours on Thursday, 1 November 2012, issued detailed clarification regarding KG-DWN-98/3 block allotted to RIL led consortium. Another index heavyweight and cigarette maker ITC also edged higher in early trade. Godrej Consumer Products rose after company said it has completed the acquisition of 51% stake in Darling Group in Kenya. IT major Wipro gained on good Q2 results. India's largest commercial vehicle maker by sales Tata Motors rose after reporting October sales after trading hours on Thursday. Realty major DLF rose after company said it has received the entire amount from Lodha Developers on sale of a land parcel in Mumbai.
Wednesday, October 31, 2012
RBI effect: Sensex, Nifty break down
The Indian equity market finally broke down from its trading range. Market had opened on a flat note and remained in a tight range in the earlier part of the day. Post the RBI policy announcement the indices fell sharply. The RBI reduced the cash reserve ratio (CRR) of scheduled banks by 25 basis points from 4.5% to 4.25% of their net demand and time liabilities (NDTL) effective the fortnight beginning November 3, 2012. As result of this reduction in the CRR, around Rs175 bn of primary liquidity will be injected into the banking system. This was however, more on expected lines and the street would have been happy to see a rate cut. Technically, Nifty violated the neckline of Head and shoulder top after breach below 5630 with renewed selling pressure from financial. Nifty has currently retraced 38.2% of the recent up move from 5223 till 5801 which corresponds to 5580 and move below same could drag Nifty well below 5500 in the coming days. The interest rate sensitive stocks were under pressure. The BSE Banking and the Realty index were the top losers shedding ~2.2% each. Among the other major losers were BSE Consumer Durables index down 2.2% and BSE Capital Goods index fell 2%.
Indices set to open flat
Always act like you're wearing an invisible crown. ~Author Unknown The RBI seems to have a mind of its own when it comes to its policy measures. The Finance minister isn’t impressed and has hinted that Government intends to face the challenge of reviving growth on its own. The RBI cut CRR by 25 basis points. Its decision to keep the key interest rate unchanged led to the indices witnessing a drop not seen for the last three weeks. The Bankex shed over 2%. With Tuesday’s fall, the Nifty has broken out of its trading range we have been mentioning for a while violating the key support of 5630 levels. That level may well turn into a new resistance for the time being.
Market may open flat
Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a flat opening on the domestic bourses. Power Grid Corporation of India announces Q2 September 2012 results today, 31 October 2012. PSU OMCs may edge lower on reports that new Petroleum Minister Veerappa Moily is reviewing the cap on subsidized LPG cylinders ahead of assembly polls in Himachal Pradesh and Gujarat. In a bid to rein in its ballooning oil subsidy burden, the Centre last month fixed a cap on supply of subsidised LPG to six cylinders per household in a year. Moily on Monday, 29 October 2012, took charge as the new Minister of Petroleum and Natural Gas following a major reshuffle of the cabinet announced by Prime Minister Dr. Manmohan Singh on Sunday, 28 October 2012. Assembly polls in Himachal Pradesh are scheduled on Sunday, 4 November 2012. Assembly polls in Gujarat will take place in two phases on 13 and 17 December 2012
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