BSE Bulk Deals to Watch - July 9 2008

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
9/7/2008 590059 BIHAR TUBES ELARA INDIA OPPORTUNITIES FUND LIMITED B 100000 145.00
9/7/2008 532271 CYBERMAT INF PRABHUDAS LILLADHER PVT. LTD. B 340518 5.01
9/7/2008 532271 CYBERMAT INF S V ENTERPRISES B 3278767 5.30
9/7/2008 532271 CYBERMAT INF PRABHUDAS LILLADHER PVT. LTD. S 345518 5.24
9/7/2008 532271 CYBERMAT INF S V ENTERPRISES S 3160003 5.18
9/7/2008 532903 DHANUSTECH G L ENGINEERING IND. P LTD S 158193 167.48
9/7/2008 532022 FILAT FASH MULJIBHAI D PATEL B 38400 26.35
9/7/2008 532022 FILAT FASH AUM TECHNOCAST PVT. LTD S 65000 26.35
9/7/2008 532996 FIRST WIN N D NISSAR B 125299 100.04
9/7/2008 532996 FIRST WIN SHEFALIY V SAMDARIA B 130662 97.22
9/7/2008 532996 FIRST WIN YUVAK SHARE TRADING PVT.LTD. B 268546 105.80
9/7/2008 532996 FIRST WIN N D NISSAR S 125299 99.90
9/7/2008 532996 FIRST WIN SHEFALIY V SAMDARIA S 130662 99.25
9/7/2008 532996 FIRST WIN YUVAK SHARE TRADING PVT.LTD. S 243393 104.40
9/7/2008 532187 INDUS IND BK LOTUS GLOBAL INVESTMENTS LTD B 9850816 52.40
9/7/2008 531602 KOFF BR PICT LAXMI CAP BROKING PVT LTD B 25851 23.66
9/7/2008 512267 MEDIA MATRIX MOHAN NARAYANAN B 175000 4.90
9/7/2008 532387 PRITISHN COM JITENDRA HARIVANSH JOSHI B 82000 47.87
9/7/2008 532387 PRITISHN COM CAPETOWN MERANTILE CO PVT. LTD. S 82000 47.87
9/7/2008 526494 PROMAC PLAST CONSOLIDATED SECURITIES LTD S 85000 2.60
9/7/2008 532690 RAMSARUP IND ASHISH JHUNJHUNWALA B 575400 114.36
9/7/2008 532690 RAMSARUP IND NEERZA JHUNJHUNWALA S 575400 114.14
9/7/2008 532884 REFEX REFRIG ANKIT RAJENDRA SANCHANIYA B 175000 197.64
9/7/2008 532956 SOLECT EMS UBS SECURITIES ASIA LTD AC SWISS FINANCE COR MAURITIUS LTD S 67993 125.17
9/7/2008 532948 TULSI EXTRU YUVAK SHARE TRADING PVT.LTD. B 62623 33.01

Eveninger - July 9 2008

Eveninger - July 9 2008

NSE Bulk Deals to Watch - July 9 2008

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
09-JUL-2008,AHMEDFORGE,Ahmednagar Forgings Ltd,MAVI INVESTMENT FUND LIMITED,BUY,600000,90.00,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,AVANI AMITBHAI KORADIA,BUY,100000,104.22,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,B K SHAH CO KETAN BHAILAL SHAH,BUY,100584,101.08,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,CHOKHANI SECURITIES LTD,BUY,99029,98.79,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,DINESH MUNJAL,BUY,262231,102.26,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,DIPAK RAMANBHAI RATHOD,BUY,97991,104.00,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,G RAMAKRISHNA,BUY,89000,103.81,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,MAHASAGAR SECURITIES PVT LTD,BUY,100000,104.98,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,MANISH VRAJLAL SARVAIYA,BUY,128601,99.86,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,NISSAR BROTHERS,BUY,112225,100.44,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,PRASHANT JAYANTILAL PATEL,BUY,309502,99.62,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,R APPALA RAJU,BUY,155000,104.49,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,R.M. SHARE TRADING PVT LTD,BUY,154610,102.30,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,SS CORPORATE SECURITIES LIMITED,BUY,109324,99.12,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,STANDARD SECURITIES & INVESTMENT INTERMEDIATES LIMITED,BUY,101358,100.48,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,TIRUPATI ONLINE,BUY,294586,97.64,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,TRANSGLOBAL SECURITIES LTD.,BUY,258278,99.93,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,YUVAK SHARE TRADING PVT LTD,BUY,372043,103.52,-
09-JUL-2008,IFCI,IFCI Ltd.,CLEAN FINANCE & INVESTMENT LTD,BUY,4908111,41.18,-
09-JUL-2008,IOLN,IOL Netcom Limited,SHREE DHOOT TRADING & AGENCIES LIMITED,BUY,160000,60.93,-
09-JUL-2008,KHAITANELE,Khaitan Electricals Ltd,CARWIN MERCANTILES PVT LTD,BUY,117092,59.61,-
09-JUL-2008,MVL,MVL Limited,TRANSGLOBAL SECURITIES LTD.,BUY,270311,105.04,-
09-JUL-2008,NAGARFERT,Nagarjuna Fert & Chem,CLEAN FINANCE & INVESTMENT LTD,BUY,2990746,32.67,-
09-JUL-2008,PURVA,Puravankara Projects Limi,HSBC GLOBAL INVESTMENT FUNDS A/C HSBC GLOBAL INVESTMENT FUND,BUY,3101201,191.00,-
09-JUL-2008,RAMSARUP,Ramsarup Industries Limit,ASHISH JHUNJHUNWALA,BUY,500000,114.00,-
09-JUL-2008,SAREGAMA,Saregama India Ltd.,FIDELITY FUNDS - EMERGING MARKETS FUND,BUY,346090,103.00,-
09-JUL-2008,SASKEN,Sasken Commu Techno Ltd,MBL & COMPANY LTD.,BUY,186881,149.68,-
09-JUL-2008,AHMEDFORGE,Ahmednagar Forgings Ltd,ZATCO VYAPAAR PVT LTD,SELL,238495,90.00,-
09-JUL-2008,APOLLOHOSP,Apollo Hospitals Ltd,FIDELITY INVST INTNL A/C FIDE SEL PORTFS:MEDICAL DEL PORTF,SELL,395000,500.00,-
09-JUL-2008,APOLLOHOSP,Apollo Hospitals Ltd,FIDELITY MNGT AND RESEARCH A/C FID SEL PF: HEALTHCARE PORTFO,SELL,333733,500.00,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,AVANI AMITBHAI KORADIA,SELL,100000,101.65,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,B K SHAH CO KETAN BHAILAL SHAH,SELL,100584,101.39,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,CHOKHANI SECURITIES LTD,SELL,99029,99.26,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,DINESH MUNJAL,SELL,262231,102.11,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,DIPAK RAMANBHAI RATHOD,SELL,97991,107.05,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,G RAMAKRISHNA,SELL,89000,102.53,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,MAHASAGAR SECURITIES PVT LTD,SELL,25000,107.00,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,MANISH VRAJLAL SARVAIYA,SELL,128601,100.27,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,NISSAR BROTHERS,SELL,112225,100.45,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,PRASHANT JAYANTILAL PATEL,SELL,309502,99.43,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,R APPALA RAJU,SELL,155000,102.18,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,R.M. SHARE TRADING PVT LTD,SELL,154610,102.56,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,SS CORPORATE SECURITIES LIMITED,SELL,209324,106.17,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,STANDARD SECURITIES & INVESTMENT INTERMEDIATES LIMITED,SELL,101358,100.46,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,TIRUPATI ONLINE,SELL,294586,101.30,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,TRANSGLOBAL SECURITIES LTD.,SELL,259278,100.00,-
09-JUL-2008,FIRSTWIN,First Winner Industries L,YUVAK SHARE TRADING PVT LTD,SELL,364536,103.44,-
09-JUL-2008,IFCI,IFCI Ltd.,CLEAN FINANCE & INVESTMENT LTD,SELL,4908111,41.20,-
09-JUL-2008,KALPATPOWR,Kalpataru Pow Trans Ltd,JM FINANCIAL MUTUAL FUND,SELL,136923,750.00,-
09-JUL-2008,KHAITANELE,Khaitan Electricals Ltd,CARWIN MERCANTILES PVT LTD,SELL,495,61.38,-
09-JUL-2008,KHAITANELE,Khaitan Electricals Ltd,SANTOSH INDUSTRIES LTD,SELL,100000,59.42,-
09-JUL-2008,MVL,MVL Limited,TRANSGLOBAL SECURITIES LTD.,SELL,270311,105.46,-
09-JUL-2008,NAGARFERT,Nagarjuna Fert & Chem,CLEAN FINANCE & INVESTMENT LTD,SELL,2990746,32.67,-
09-JUL-2008,PURVA,Puravankara Projects Limi,MERRILL LYNCH CAPITAL MARKETS ESPANA S.A. SVB,SELL,3101201,191.00,-
09-JUL-2008,RAMSARUP,Ramsarup Industries Limit,NEERZA JHUNJHUNWALA,SELL,500000,114.00,-
09-JUL-2008,SAREGAMA,Saregama India Ltd.,FIDELITY FUNDS - EMERGING MARKETS FUND,SELL,346090,103.00,-
09-JUL-2008,SASKEN,Sasken Commu Techno Ltd,MBL & COMPANY LTD.,SELL,180316,149.92,-

Post Session Commentary - July 9 2008

The domestic markets concluded the day with handsome gains on huge buying across the board. The market opened strongly after a sharp pull back from yesterday on the back of positive cues from the US markets like encouraging statement from Fed Chairman Ben Bernanke that central bank may extend its emergency-loan program for investment banks into next year. Also the drop in crude oil price to $136 per barrel gave a boost to the market. The market maintained its opening gains and continued to trade strongly on the back of sustained buying to close with smart gains. It was a very good day for the market as it had not shown any sign of weakness and BSE Sensex crossed 13,900 mark with increase of 4.60% and NSE Nifty crossed 4,100 mark with gain of 4.23%. From the sectoral front, all indices closed in green and Capital Goods, Metal, Oil & Gas, Reality and Bank stocks were in limelight as strong buying witnessed in these baskets. Reality index closed with gain of more than 6%. Among the sensex30 pack, all indices closed in green. The market breadth was extremely positive as 2130 stocks closed in green while 529 stocks closed in red and 67 stocks remained unchanged.

The BSE Sensex closed higher by 614.61 points at 13,964.26 and NSE Nifty ended up by 168.55 points at 4,157.10. The BSE Mid Caps and Small Cap closed positive with gain of 154.69 points and 227.26 points 5,470.68 and 6,789.88 respectively. The BSE Sensex touched intraday high 13,998.48 of and intraday low of 13,581.41.

Gainers from the BSE are Reliance Infra (10.66%), JP Associates (10.00%), Tata Motors (7.49), ITC Ltd (6.78%), Reliance Com Ltd (6.15%), TCS Ltd (5.92%), HDFC Bank Ltd (5.72%), BHEL (5.14%), Reliance (5.12%) and Bharti Airtel (4.99%).

The Capital Goods index closed up by 510.62 points at 11,364.76. Gainers are Alstom Proje (8.49%), Bharat Elect (7.30%), Suzlon Energy (6.25%), ABB Ltd (6.16%), Lakshmi Ma W (6.16%) and Punj Lloyd (5.70%).

The Oil & Gas index ended higher by 389.74 points at 9,133.10. As Essar Oil Ltd (8.30%), Gail India (7.57%), BPCL (7.40%), Reliance Natural Resources (7.20%) and Reliance (5.12%) closed in positive territory.

The Metal Index went up by 375.84 points to close at 12,642.62. Gainers are Steel Authority (6.20%) along with Ispat Indus (5.88%), Jindal Steel (5.34), SH Precoated (5.34%), Tata Steel (4.07%)and Maharashtra Seamless (3.69%).

The Bank Index closed higher by 287.39 points at 6,183.53. Gainers are Axis Bank (10.08%) along with Kotak Bank (7.63%), Bank of India (6.32%), HDFC Bank Ltd (5.72%), ICICI Bank Ltd (4.72%) and Union Bank (4.48%).

The Reality index ended up by 280.18 points at 4,901.16. Gainers are Purvankara (9.91%), Penland Ltd (8.74%), Anant Raj Indus (8.73%), Housing Development (7.69%), Unitech Ltd (7.28%), Omaxe Ltd (7.24%), and Indiabulls Real (6.87%).

The IT index gained 174.12 points to close at 4,220.07. Major gainers are Aptech Ltd (10.90%), TCS Ltd (5.92%), Tech Mahindra (5.42%), Rolta India (5.30), Infosys Tech (4.90%) and NIIT Ltd (4.62%).

Firm global indices keep market buoyant

The market exhibited strong optimism, as buoyancy in overseas markets triggered a major across-the-board rally. After registering heavy loss on yesterday's trade, the Sensex resumed with a positive gap of 231 points at 13,581. However, lack of new buying in heavyweights kept the Sensex range-bound. But, in the afternoon trades the Sensex scaled up on hectic buying and set another all-time high of 13,998. Firm close in other Asian indices also helped the market rally. The Sensex finally closed the session with gains of 615 points at 13,964. The Nifty closed by adding 169 points at 4,157.

Among the sectoral indices, the BSE Realty led the upsurge with gains of 6.06% at 4,901 followed by the BSE Power (up 5.39% at 2,456), BSE Bankex Index (up 4.87% at 6,183) and BSE CG Index (up 4.70% at 11,365). However, the market breadth was positive. Of the 2,726 stocks traded on the BSE 2,131 stocks advanced, 527 stocks advanced and 68 stocks ended unchanged.

All the 30 Sensex stocks managed to end in the green. Reliance Energy was the leading gainer and soared 10.66% at Rs835.45. Jaiprakash Associates jumped 7.49% at Rs404.55, ITC shot up by 6.78% at Rs171.85, Reliance Communications advanced 6.15% at Rs440.95, Tata Consultancy Services moved up by 5.92% at Rs875.65, HDFC Bank added 5.72% at Rs1,058, BHEL gained 5.14% at Rs1,575.30 and Reliance Industries gained 5.12% at Rs2,079.95. The remaining sensex stocks were up over 1-4% each.

Over 2.58 crore Reliance Natural Resources shares changed hands on the BSE followed by IFCI (1.86 crore shares), Idea Cellular (1.26 crore shares), Indusind Bank (1.04 crore shares) and Ispat Industries (0.94 crore shares).

Sensex vaults 615 points as oil declines sharply

A mix of positive domestic and global news helped bulls conquer the bourses today. The market snapped yesterday’s fall on strong global cues and on sharp fall crude oil prices on Tuesday, 8 July 2008. The market was also boosted on hopes the government may push through some of the economic reforms which Left parties had stalled over the past four years. Today's sharp surge took Sensex within striking distance of 14,000 mark. Reliance Infrastructure and Jaiprakash Associates rose more than 10% each. Index heavyweights Reliance Industries and Infosys spurted.

Over the last four years, Left parities had stalled privatisation of state-run firms, pension reforms, higher foreign limits in insurance and more liberal norms for foreign bank. Left parties on Tuesday said they are withdrawing support to the Congress-led United Progressive Alliance government to protest Indo-US nuclear deal.

The government is expected to face a vote of confidence in parliament in the coming weeks. The government is confident of retaining power due to backing from Samajwadi Party, a regional party in Uttar Pradesh. Samajwadi Party (SP) yesterday, 8 July 2008, said it will vote with the government in support of the nuclear deal with the United States.

All the sectoral indices on BSE were in green. All the Sensex stocks were in positive zone. The market breadth was strong as buying was witnessed across the board. Realty, banking, capital goods and power stocks surged.

The 30-share BSE Sensex surged 614.61 points or 4.6% at 13,964.26. At the day’s high of 13,998.48 hit during late trade Sensex gained 648.83 points.

The broader based S&P CNX Nifty was up 168.55 points or 4.23% at 4,157.10.

Earlier in the day, the market had pared some of earlier strong gains after a report that Iran had test fired missiles, raised fears about a jump in oil prices. European markets which opened after Indian markets were firm. Key benchmark indices in France, Germany and UK were up by between 0.94% to 1.15%. Asian markets which opened before Indian market turned mixed in contrast to a broad-based initial surge after the Iran news.

Oil was up 1.2% today to $137.70 a barrel. Oil had declined sharply on on Tuesday, 8 July 2008, under pressure from a stronger dollar and forecasts that eased worries about Hurricane Bertha. Crude oil for August 2008 delivery slumped 3.8% to $136.04 a barrel on the New York Mercantile Exchange on that day.

BSE clocked a turnover of Rs 5,073 crore today, 9 July 2008 as compared to a turnover of Rs 4,643.50 crore on 8 July 2008.

From a record high of 21,206.77 hit on 10 January 2008, Sensex has lost 7,242.51 points or 34.15%. It is down 6,322.73 points or 31.16% in calendar year 2008 so far.

Back to today's trade, Nifty July 2008 futures were at 4146, at a discount of 11.10 points as compared to spot closing of 4157.10. NSE's futures & options (F&O) segment turnover was Rs 47,907.81 crore, which was higher than Rs 41,117.91 crore on Tuesday, 8 July 2008.

The BSE Mid-Cap index up 2.91% at 5,470.68, while the BSE Small-Cap index up 3.46% to 6,789.88.

BSE Realty index (up 6.06% at 4,901.16), BSE Power (up 5.39% to 2,455.87), BSE Bankex (up 4.87% at 6,183.53), The BSE Capital Goods index (up 4.7% at 11,364.76), BSE FMCG index (up 4.61% to 2,042.32) outperformed Sensex.

BSE Health Care index (up 1.58% at 4,155.12), BSE Metal index (up 3.06% to 12,642.62), BSE Auto (up 3.08% at 3,606.02), BSE Consumer Durables index (up 3.41% to 3,650.89), BSE PSU index (up 4.25% to 5,966.84), BSE IT index (up 4.3% to 4,220.07), BSE TecK index (up 4.4% to 3,149.49), The BSE Oil & Gas index (up 4.46% to 9,133.10) underperformed Sensex.

The market breadth was strong on BSE, with 2,130 gainers outpacing 529 losers. 67 stocks remained unchanged.

India’s largest private sector firm by market capitalization and oil refiner Reliance Industries rose 5.12% to Rs 2,079.95. Reliance Industries (RIL) has reportedly signed an agreement with Peru's Perupetro to jointly explore for oil and gas in the Andean country. The two firms are likely to bid in a Peruvian government auction of 22 oil blocks with hydrocarbon potential. As part of the deal with Pan Andean, Reliance will incur all exploration costs through commercial discovery. Following a commercial find of an agreed size, Pan Andean will reimburse Reliance for its share of the exploration cost.

Realty stocks rose. Lanco Infratech (up 13.6% to Rs 320.75), Indiabulls Real Estate (up 6.87% to Rs 284.70), DLF (up 4.81% to Rs 450.30) and Unitech (up 7.28% to Rs 173.20) edged higher.

Power stocks climbed. Reliance Infrastructure (up 10.66% to Rs 835.45), Reliance Power (up 8.58% to Rs 148.75), NTPC (up 4.34% to Rs 168.20), Tata Power Company (up 3.11% to Rs 1,061.40) edged higher.

Capital goods stocks were firm. Larsen & Toubro (up 4.7% to Rs 2,512.95), Bharat Heavy Electricals (up 5.14% to Rs 1,575.30) and Suzlon Energy (up 6.25% to Rs 209.05) edged higher.

Banking stocks gained. Axis Bank (up 10.08% to Rs 669.75), ICICI Bank (up 4.72% to Rs 6321.90), HDFC Bank (up 5.72% to Rs 1,058.75) and State Bank of India (up 2.83% to Rs 1,238.50) edged higher.

Jaiprakash Associates (up 10% to Rs 173.30), Tata Motors (up 7.49% to Rs 404.55), ITC (up 6.78% to Rs 183.50),Tata Consultancy Services (up 5.92% to Rs 875.65), Bharti Airtel (up 4.99% to Rs 747.40) and Infosys (up 4.9% to Rs 1,821.10) edged higher from Sensex pack.

India’s second largest telecom services provider by sales Reliance Communications rose 6.15% to Rs 440.95. South African mobile phone operator MTN Group said today, 9 July 2008, it had agreed to extend its exclusive talks with India's Reliance Communications until 21 July 2008. MTN and Reliance Communications started talks on 26 May 2008 that could create a $66 billion emerging markets telecoms group with operations in about two dozen countries and around 120 million subscribers.

Reliance Natural Resources clocked the highest volume of 2.58 crore shares on BSE. IFCI (1.86 crore shares), Idea Cellular (1.26 crore shares), IndusInd Bank (1.04 crore shares) and Ispat Industries (94.2 lakh shares) were other volume toppers in that order.

Reliance Capital clocked the highest turnover of Rs 255.22 crore on BSE. Reliance Industries (Rs 254.96 crore), Reliance Infrastructure (Rs 196.29 crore), Reliance Natural Resources (Rs 183.37 crore) and Mundra Port Special Economic Zone (Rs 128.35 crore) were other turnover toppers in that order.

In Asia, key benchmark indices in China, Singapore, Hong Kong, and Japan were up by between 0.15% to 3.75%. Key benchmark indices in Taiwan and South Korea were down by between 0.05% to 0.92%.

US markets had another wild trading day of ups and downs but ended with decent gains on 8 July 2008, after oil prices retreated from record highs, easing concerns on consumer spending. The Dow Jones industrial average gained 152.25 points, or 1.36%, to 11,383.21. The S&P 500 advanced 21.39 points, or 1.71%, to 1,273.70, while the Nasdaq composite index added 51.10 points, or 2.28%, to 2,294.42.

Prime Minister Manmohan Singh on 7 July 2008 said that the government will go through the remaining formalities of the Indo-US nuclear deal. The Prime Minister is likely to discuss the progress of the Indo-US nuclear deal with US President George Bush today, 9 July 2008. He also expressed confidence that UPA government will survive the trust vote and avoid early elections.

Market likely to see gap-up opening

Local shares are likely to be witness a gap-up opening today, 9 July 2008, as political uncertainties come to an end with the Left announcing withdrawal of support to the UPA government yesterday, 8 July 2008. Positive global cues and sharp decline in crude oil prices may propel the sentiment further.

Prime Minister Manmohan Singh on 7 July 2008 said that the government will go through the remaining formalities of the Indo-US nuclear deal. The Prime Minister is likely to discuss the progress of the Indo-US nuclear deal with US President George Bush today, 9 July 2008. He also expressed confidence that UPA government will survive the trust vote and avoid early elections. Samajwadi Party (SP) yesterday, 8 July 2008, said it will vote with the government in support of the nuclear deal with the United States.

US crude oil futures fell sharply on Tuesday, 8 July 2008, under pressure from a stronger dollar and forecasts that eased worries about Hurricane Bertha. Crude oil for August delivery slumped 3.8% to $136.04 a barrel on the New York Mercantile Exchange.

Asian markets were trading higher today, 9 July 2008, tracking Wall Street gains and after crude oil prices retreated. China's Shanghai Composite rose 1.32% or 37.16 points at 2,852.11, Japan's Nikkei surged 1.82% or 237.17 points at 13,270.27, Hong Kong's Hang Seng gained 2.88% or 610.94 points at 21,831.75, Taiwan's Taiwan Weighted added 2.30% or 161.97 points at 7,213.82, Singapore's Straits Times advanced 1.28% or 37.09 points at 2,923.71 and South Korea's Seoul Composite was up 1.60% or 24.58 points at 1,558.05

US markets had another wild trading day of ups and downs but ended with decent gains on 8 July 2008, after oil prices retreated from record highs, easing concerns on consumer spending. The Dow Jones industrial average gained 152.25 points, or 1.36%, to 11,383.21. The S&P 500 advanced 21.39 points, or 1.71%, to 1,273.70, while the Nasdaq composite index added 51.10 points, or 2.28%, to 2,294.42.

Assured of the government's stability, market rebounded from early low as investor sentiment got a lift. The 30-share BSE Sensex lost 176.34 points or 1.3% at 13,349.65 and the broader based S&P CNX Nifty was down 41.45 points or 1.03% at 3,988.55, yesterday, 8 July 2008.

As per the provisional figures on NSE, the foreign institutional investors (FII)'s sold shares worth Rs 326.27 crore, while domestic funds bought shares worth Rs 427.27 crore on 8 July 2008.

Foreign institutional investors (FIIs) were net sellers of Rs 412.02 crore in the futures & options segment on 8 July 2008. They were net sellers of index futures to the tune of Rs 653.68 crore and bought index options worth Rs 122.36 crore. They were net buyers of stock futures to the tune of Rs 94.09 crore and purchased stock options worth Rs 25.21 crore

Daily Technicals - July 9 2008

Daily Technicals - July 9 2008

Market Outlook - July 9 2008

Market Outlook - July 9 2008

Market Outlook - July 9 2008

Market Outlook - July 9 2008

Today's Pick - GSK Pharma

We recommend a buy in GlaxoSmithKline Pharmaceuticals from a short-term horizon. It is clearly visible from the charts of GlaxoSmithKline Pharmaceuticals that it was on a long-term down trend from its April 2006 high of Rs 1,553 to its January 2008 low of Rs 704. However, the stock reversed direction in January and has been on a steady uptrend since then. We notice an inverse complex head and shoulders pattern, spanning over the past nine months with neckline at Rs 1,150. On July 8, the stock decisively broke out of the neckline by surging more than 3 per cent, accompanied with above 2 week average volume. The stock is trading well above its 21 and 50-day moving averages. The daily and weekly momentum indicators are featuring in the bullish zone. The daily moving average convergence and divergence (MACD) is featuring in the positive territory and the weekly MACD has entered this territory. Besides, the up trendline of the stock is intact. Our short-term forecast for the stock is bullish and we expect it to rally until it hits our price target of Rs 1,300 in the forthcoming trading sessions. Traders with short-term perspective can buy the stock while maintaining stop-loss at Rs 1,125.

via BL

Pre Session Commentary - July 9 2008

The Indian Market is expected to have positive opening on the back of strong global cues as the US market ended up and Asian markets are trading higher due to the fall in crude oil prices and reassuring comments from U.S. Federal Reserve chairman Ben Bernanke. Tuesday, Indian market opened on the back foot tracking negative cues from the Asian markets and domestic political worries. Further, it came off sharply from the day’s lows irrespective of the Left parties step to pull out support from the UPA government. It managed to restrict the losses but still closed in negative territory. The BSE Sensex closed below 13,400 mark and NSE Nifty below 4,000. From the sectoral front Oil & Gas and IT stocks were major sufferers due to selling pressure while Capital Goods and Metal stocks were in favor as buying witnessed in these baskets. The BSE Sensex closed lower by 176.34 points at 13,349.65 and NSE Nifty ended down by 41.45 points at 3,988.55. We expect that market may see some bull run during the trading session.

The Left parties had withdrawn support to the UPA government on Tuesday, citing Prime Minister''s announcement in Tokyo about going to the IAEA soon as the provocation. They had planned to meet President Pratibha Patil today to formally withdraw support. Market reacted positively on withdrawal as the SP will lend support and some friendlier policies are expected

US markets closed higher on Tuesday on encouraging comments from Fed Chairman Ben Bernanke and an extended drop in oil prices. Ben Bernanke''s comments raised the possibility of extending the Federal Reserve''s lending facilities to investment banks and flagging a wider role in banking regulation. Crude prices dropped almost $5 per barrel and closed at $136.04 a barrel due to commodity selling among fears of weakening global economy.

The Dow Jones Industrial Average (DJIA) closed higher by 152.25 points at 11,384.21 along with NASDAQ up by 51.12 points to close 2,294.44 and S&P 500 dropped by 21.39 points to close at 1,273.70.

Indian ADRs ended mixed. In technology sector, Patni Computers ended up by (2.89%) along with Infosys by (0.73%). However, Satyam closed lower by (2.36%) and Wipro by (1.54%). In banking sector, HDFC bank and ICICI bank gained (4.56%) and (4.06%) respectively. In telecommunication sector, MTNL ended without any change and Tata Communication advanced by (1.47%). Sterlite industries declined (3.29%).

Today the major stock markets in Asia are trading high due to the Wall Street gains overnight and on speculation that credit-market losses of banks and industrial companies will ease. Hang Seng index is trading up by 610.94 points at 21,831.75 along with Japan’s Nikkei trading higher by 237.17 points at 13,270.27 and Taiwan Weighted trading at 7,213.82 with a surge of 161.97 points.

The FIIs on Tuesday stood as net seller in equity and net buyer in debt. The gross equity purchased was Rs1,782.10 Crore and the gross debt purchased was Rs1,432.70 Crore while the gross equity sold stood at Rs2,102.00 Crore and gross debt sold stood at Rs427.30 Crore. Therefore, the net investment of equity reported was (Rs319.90) Crore and net debt was Rs1,005.40 Crore.

Today, Nifty has support at 3,921 and resistance at 4,163 and BSE Sensex has support at 13,110 and resistance at 13,894.

Firm global indices indicate positive outlook

The market bias may remain positive on strong fund buying into the local market and surging international indices. However, caution should be maintained on account of the prevalence of an intra-day volatility. Among the local indices, the Nifty could test 4030 on the upside and may slip to 3940 on the downside. The Sensex has a likely support at 13230 and may face resistance at 13475.

US indices ended positive on Wednesday. The Dow Jones gained sharply by 152 points to close at 11384 while the Nasdaq ended 51 points higher at 2294.

Among the Indian ADRs trading on the US bourses, HDFC Bank & ICICI Bank were the major gainer by over 4%, followed by Dr Reddy up by 3.63%, Patni Computer 2.89% and VSNL 1.47%, while Infosys was up by 0.73%. However, Rediff led the laggard and lost 5.65%, Satyam, Tata Motors & Wipro slipped into the red.

Crude Oil prices extended a post-July 4th descent Tuesday - falling more than $9 a barrel over two days - as Iran's president downplayed concerns about possible war in the Middle East and investors anticipated falling demand due to high gasoline prices. The Nymex light crude oil for August delivery moving down by $5.33 to close at $136.04 a barrel. In the Commodity segment, the Comex gold for August series lost $5.50 to settle at $923.30 a troy ounce.

Morning Call - July 9 2008

Market Grape Wine :

In House :

Nifty at a support of 3953 and 3905 levels with resistance at 4040 and 4090 levels .

Buy : ABAN above 2603 target 2685 s/l of 2560

Buy : BombayDye above 547 target 570 s/l of 535

Buy : RelCap above 1063 target 1150 s/l of 1035

Buy : NTPC above 156 target 165 s/l of 150

Out House:

Markets at a support of 13133 & 13245 resistance at 13595 & 13786 levels .

Buy : Infy & satyam

Buy : Suzlon 7 Rel

Buy : JSW & Tisco

Buy : Bhel & LT

Buy : Centextile & Adalbs

Buy : Sbin & KotakBank

Dark Horse : Satyam , Bhel , LT , Infy , RIL , Jpasso , Suzlon & Tisco

Rgds

Trading Calls - July 9 2008

Nifty (3989) Sup 3930 Res 4090

Buy Crompton Greaves (244) SL 239 Target 254, 258

Buy BoB (216) SL 211
Target 226, 230

Buy Reliance Infra (754) SL 746 Target 770, 775

Buy NTPC (161) SL 157
Target 168, 170

Sell Essar Oil (176) SL 180 Target 170, 167