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Thursday, September 24, 2009
Market may extend Wednesday's fall on weak Asia
The key benchmark indices may extend Wednesday's (23 September 2009) fall tracking weak Asia. Investors will keenly watch inflation data for the year to 12 September 2009 due to be announced by government today. India's headline inflation came in positive zone with 0.12% growth during the week ended 5 September 2009 after past 13 week fall. Volatility will be the order of the day as traders rolled over derivatives contracts from September 2009 series to October 2009 series ahead of the expiry of September 2009 contracts today, 24 September 2009.
Indian companies and individuals are now borrowing from banks to build factories, buy cars and homes, taking advantage of low interest rates, a sign that economic growth may accelerate report said. The uptick is reflected in the latest data unveiled by the Reserve Bank of India. Bank loans aggregated Rs 56,303 crore more in Q2 (July- 11 September 2009) compared to a drop of Rs 7456 crore in Q1 (April-June 2009).
Meanwhile, Finance Minister Pranab Mukherjee said on Wednesday India's economic growth in the September 2009 quarter will be better than in the June 2009 quarter. The economy grew an annual 6.1% in the April-June quarter, the first of 2009/10 fiscal year.
Mukherjee had said on Saturday, 19 September 2009, that the Centre will not roll back the stimulus package given to the industry in wake of the global economic meltdown till signs of clear recovery are visible across recession-hit US and Europe. The Finance Minister also said on that day that the nation's equities index is moving steadily and authorities will avoid disturbing the pattern.
There is optimism about Q2 September 2009 results after advance tax collections registered a positive growth in the second quarter after witnessing a negative growth in the first quarter. Corporate advance tax and advance personal income-tax were up by 14.7% and 1.7%, respectively in the September 2009 quarter. Higher advance tax payment indicates good Q2 September 2009 results from India Inc. next month.
Meanwhile, the world economy is likely to be the focus of a two-day G20 financial summit in Pittsburgh on 24-25 September 2009. The G20 leaders will discuss overhauling global financial regulation and fixing long-term imbalances in the world economy. The G20 leaders are also considering ways to rein in bank bonuses that many say contributed to the global financial crisis by encouraging excessive risk-taking. Bank bonuses are part of the G20 agenda to consider ways to reshape global financial rules after the 2008-2009 crisis.
Most Asian stock markets fell today led by commodity companies, after raw-material prices declined. The key benchmark indices in China, Hong Kong, South Korea, Singapore and Taiwan fell by between 0.45% to 2.45%.
Japan stocks which opened today after a long holiday rose 1.72% as brokerages upgraded Toshiba Corp. and Fast Retailing Co.
US market fell on Wednesday as investors worried the Federal Reserve might be closer to reducing vast efforts that have shored up the economy and supported big gains in asset markets.
The Dow Jones industrial average fell 80.79 points, or 0.82 % to 9,749.08. The Standard & Poor's 500 Index lost 10.77 points, or 1% to 1,060.89. The Nasdaq Composite Index gave up 14.88 points, or 0.69 % at 2,131.42.
The Federal Reserve's policy-setters met and kept interest rates unchanged, as expected, but they also said the U.S. central bank would slow purchases of mortgage debt to extend that program's life until the end of March 2010. That was seen as a step toward a measured withdrawal of its extraordinary support for the economy during the downturn.
Back home, the key benchmark indices snapped last five days' gains on Wednesday, 23 September 2009 on fears a glut in share sales may suck liquidity from the secondary market. Profit taking emerged after a strong rally this month that took the market to a 16-month high on Tuesday, 22 September 2009. The BSE 30-share Sensex fell 166.93 points or 0.99% to 16719.50 on that day.
Foreign funds continued their buying spree, pumping in a net Rs 1748.99 crore in equities on 23 September 2009, provisional data released by the stock exchanges showed. Domestic funds bought stocks worth a net Rs 500.47 crore.
Alembic
We recommend a buy in the stock of Alembic from a short-term perspective. It is apparent from the charts that the stock has been on an intermediate-term uptrend since October 2008 low of Rs 24.7, which is a multi-year low. In early July, the stock found twin support at Rs 35, from the intermediate-term up trendline as well as key support level. Subsequently, the counter resumed its uptrend and has been on a medium-term uptrend too. On August 27, the stock broke through a significant resistance at Rs 45 by surging 8 per cent accompanied with high volume. Besides, it gained 7 per cent with high volume on September 23. The stock is trading well above its 21- and 50-day moving averages. The daily relative strength index (RSI) has entered the bullish zone and weekly RSI is featuring in this zone. The weekly moving average convergence and divergence indicator is steadily rising in the positive territory. We are bullish on the stock from a short-term horizon. We anticipate it to move up until it hits our price target of Rs 56. Traders with a short-term perspective can buy the stock while maintaining a stop-loss at Rs 47.5.
via BL
Copper slips
Rising LME inventories hammer copper prices
Copper prices dropped for first time in three weeks on Wednesday, 23 September, 2009 at Comex and LME. Prices fell today as inventories soared at LME.
At USA, copper futures for December delivery slid 5.65 cents (2%) to 2.808 a pound. Copper fell 2.6% last week. Copper ended August, 2009, higher by 7%.
On the London Metal Exchange, copper for delivery in three months ended lower by $142 (2.3%) at $6,128 a metric ton. On 3 July, 2008, prices had touched an all time intra day high of $8,940.
After August, it was the eighth straight monthly gain for copper. Prices gained 23% in the second quarter. On a year to date basis, prices are higher by 92.7%.
The U.S. buys about 13% of the 17 million metric tons of copper sold annually and China buys about 20%.
As per latest reports, copper stockpiles in warehouses monitored by the London Metal Exchange increased 175 metric tons to 331,950 metric tons. LME supplies gained for 17 straight sessions before slipping yesterday.
In the currency market on Wednesday, the dollar erased early gains. The dollar index, which measures the strength of dollar against a basket of other currencies, fell by almost 0.2%.
In a statement released after a two-day policy meeting, the Fed kept its target for its federal funds rate set at a range of zero to 0.25%. It also announced that it has extended its purchase of mortgage-backed securities and agency debt into the first quarter of 2010 from December. In the statement, Fed officials said that economic activity has picked up with improved conditions in financial markets. Lower interest rates tend to hurt the dollar and boost gold's value as a hedge against a weak currency and inflation.
At the MCX, copper for November delivery closed at Rs 299.2/Kg. The closing price was Rs 4.9/Kg (1.61%) lower than previous closing price. Prices rose to a high of Rs 304.1/ Kg and fell to a low of Rs 294.65/Kg during the day's trading.
In FY 2008, copper prices dropped by 54%. Prior to 2008, copper prices ended FY 2007 with a gain of mere 5.5% after a whopping 44% gain in FY 2006. The price of copper gained every year since 2002 as global economic growth boosted demand for the metal used in pipes and wires.
Among other metals traded in the LME on Wednesday, lead fell 0.2% to $2,285 a ton and zinc fell 0.9% to end at $1,928 a ton. Nickel rose 0.3% to end at $17,800. Aluminium added 0.6% to $1,900 a ton.
Precious metals slip again
Gold and silver drop again after Federal Reserve's decision
Precious metal prices slipped once again on Wednesday, 23 September, 2009. Prices fell today after Federal Reserve decided to keep interest rates unchanged.
Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa.
On Wednesday, gold for December delivery ended at $1014.4, lower by $1.1 (0.1%) an ounce on the New York Mercantile Exchange. Last week, gold ended higher by 0.4%. Year to date, gold prices are higher by 15%.
Gold ended August, 2009 higher by 0.2%. Before this, for the second quarter, gold ended higher by 0.5%. The metal had gained 4.3% in the first quarter of this year.
On 17 March, 2008 prices had skyrocketed to a high of $1,034/ounce. But prices have dropped somewhat (2.8%) since then.
On Wednesday, Comex silver futures for December delivery fell 20.5 cents (1.2%) to $16.91 an ounce. Last week, silver ended higher by 2.2%.
Silver ended 7.1% higher for August, 2009. For second quarter, silver rose 4.5%. Year to date, silver has climbed 48.8% this year. For 2008, silver had lost 24%.
In the currency market on Wednesday, the dollar index, which measures the strength of dollar against a basket of other currencies, fell by almost 0.2%.
In a statement released after a two-day policy meeting, the Fed kept its target for its federal funds rate set at a range of zero to 0.25%. It also announced that it has extended its purchase of mortgage-backed securities and agency debt into the first quarter of 2010 from December. In the statement, Fed officials said that economic activity has picked up with improved conditions in financial markets. Lower interest rates tend to hurt the dollar and boost gold's value as a hedge against a weak currency and inflation.
In 2008, gold prices ended higher by 5.5%. The dollar index had gained 12% that year.
At the MCX, gold prices for October delivery closed higher by Rs 21 (0.13%) at Rs 15,837 per 10 grams. Prices rose to a high of Rs 15,885 per 10 grams and fell to a low of Rs 15,746 per 10 grams during the day's trading.
At the MCX, silver prices for December delivery closed Rs 73 (0.3%) lower at Rs 27,137/Kg. Prices opened at Rs 27,299/kg and fell to a low of Rs 26,752/Kg during the day's trading.
Crude plunges
Prices drop as inventories rise
Crude prices plunged at Nymex on Wednesday, 23 September, 2009. Prices fell as energy department's weekly inventory report showed that crude stockpiles rose last week.
On Wednesday, crude-oil futures for light sweet crude for November delivery closed at $68.97/barrel (lower by $2.79 or 3.9%). Earlier during the day, it fell to a low of $68.57/barrel. Last week, crude ended higher by 4%.
For the month of August, 2009, crude ended higher by a marginal 0.7%. For the second quarter, crude ended higher by 40%. Crude prices had rallied 11.3% in the first quarter of 2009.
Oil prices had reached a high of $147 on 11 July, 2008 but have dropped almost 58% since then. Year to date, in 2009, crude prices are higher by 46.8%.
In the latest weekly inventory report, EIA announced today that crude supplies rose 2.8 million barrels in the week ended 18 September, 2009. Gasoline inventories gained 5.4 million barrels, and distillate stockpiles, which include diesel and heating oil, rose 3 million barrels..
In the currency market on Wednesday, the dollar erased early gains. The dollar index, which measures the strength of dollar against a basket of other currencies, fell by almost 0.2%.
In a statement released after a two-day policy meeting, the Fed kept its target for its federal funds rate set at a range of zero to 0.25%. It also announced that it has extended its purchase of mortgage-backed securities and agency debt into the first quarter of 2010 from December. In the statement, Fed officials said that economic activity has picked up with improved conditions in financial markets. Lower interest rates tend to hurt the dollar and boost gold's value as a hedge against a weak currency and inflation.
Among other energy products on Wednesday, October-reformulated gasoline fell 7.67 cents, or 4.3%, to $1.7049 a gallon, and October heating oil lost 5.27 cents, or 2.9%, to $1.7594 a gallon.
Also on Wednesday, October natural gas soared 25.1 cents, or 7%, to $3.86 per million British thermal units.
Crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex.
At the MCX, crude oil for October delivery closed lower by Rs 110 (3.2%) at Rs 3,335/barrel. Natural gas for September delivery closed higher by Rs 17.7 (10.4%) at Rs 187.4/mmbtu.
Wednesday, September 23, 2009
Turnover surges
Nifty September 2009 futures below 5000
Nifty September 2009 futures were at 4966.60 at a discount of 3.35 points as compared to the spot closing of 4969.95. Turnover in NSE's futures & options (F&O) segment jumped to Rs 91,178.35 crore from Rs 82,944.72 crore on Tuesday, 22 September 2009.
The near month September 2009 futures contract will expire on Thursday, 24 September 2009. Rollover in Nifty futures improved to 36% at end of Tuesday's (22 September 2009) trading from a mere 20% at the end of Friday's (18 September 2009) trading.
DLF September 2009 futures were at a slight premium at 423 compared to the spot closing of 422.50.
Reliance Industries September 2009 futures were near spot price at 2100.65 compared to the spot closing of 2100.
Unitech September 2009 futures were near spot price at 109.35 compared to the spot closing of 109.30.
In the cash market, the S&P CNX Nifty lost 50.25 points or 1% at 4969.95.
Turnover surges
Nifty September 2009 futures below 5000
Nifty September 2009 futures were at 4966.60 at a discount of 3.35 points as compared to the spot closing of 4969.95. Turnover in NSE's futures & options (F&O) segment jumped to Rs 91,178.35 crore from Rs 82,944.72 crore on Tuesday, 22 September 2009.
The near month September 2009 futures contract will expire on Thursday, 24 September 2009. Rollover in Nifty futures improved to 36% at end of Tuesday's (22 September 2009) trading from a mere 20% at the end of Friday's (18 September 2009) trading.
DLF September 2009 futures were at a slight premium at 423 compared to the spot closing of 422.50.
Reliance Industries September 2009 futures were near spot price at 2100.65 compared to the spot closing of 2100.
Unitech September 2009 futures were near spot price at 109.35 compared to the spot closing of 109.30.
In the cash market, the S&P CNX Nifty lost 50.25 points or 1% at 4969.95.
BSE Bulk Deals to Watch - Sep 23 2009
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
23/9/2009 524348 AARTI DRUGS MATRIX EQUITRADE PVT. LTD. B 75825 100.70
23/9/2009 524348 AARTI DRUGS OPG SECURITIES P LTD B 61814 101.81
23/9/2009 524348 AARTI DRUGS MATRIX EQUITRADE PVT. LTD. S 75825 100.74
23/9/2009 524348 AARTI DRUGS OPG SECURITIES P LTD S 61814 101.84
23/9/2009 509475 BOMBAY PAINT NARESH GOVINDPRASAD JAIN B 9500 65.45
23/9/2009 509475 BOMBAY PAINT HITESH SHASHIKANT JHAVERI S 17508 67.23
23/9/2009 522163 DIAMON CABLE RELIANCE INFRASTRUCTURE FUND B 288000 205.01
23/9/2009 522163 DIAMON CABLE DIAMOND PROJECTS LTD S 430000 205.22
23/9/2009 517973 DMC INTER RAJESHKUMAR AGRAWAL B 52500 18.77
23/9/2009 517973 DMC INTER J A FINANCIAL AND MANAGEMENT CONSULTANTS PVT LTD B 50100 18.99
23/9/2009 532666 FCS SOFTWARE MANOJ KASLIWAL B 92400 81.10
23/9/2009 532022 FILAT FASH PRAKASHKUMAR DEVSHILAL SHETH B 38000 36.20
23/9/2009 532022 FILAT FASH PARI STOCK TRADING PVT LTD B 188879 34.96
23/9/2009 532022 FILAT FASH AYODHYAPATI INVESTMENT PVT LTD B 168742 35.74
23/9/2009 532022 FILAT FASH OMPARKASH GUPTA B 42533 36.20
23/9/2009 532022 FILAT FASH NARESHCHAND JAIN B 65806 36.13
23/9/2009 532022 FILAT FASH AADESH COMMODITIES PRIVATE LTD B 62000 32.25
23/9/2009 532022 FILAT FASH ROSHAN SHASHIKANT JHA S 62000 32.25
23/9/2009 532022 FILAT FASH PARI STOCK TRADING PVT LTD S 180909 36.10
23/9/2009 532022 FILAT FASH AYODHYAPATI INVESTMENT PVT LTD S 168742 36.16
23/9/2009 532022 FILAT FASH OMPARKASH GUPTA S 42533 35.24
23/9/2009 532022 FILAT FASH NARESHCHAND JAIN S 65807 35.55
23/9/2009 532022 FILAT FASH CHANDRA SHEKHAR SUNIL BHATT S 34032 35.77
23/9/2009 531486 FILMCIT MEDI WELLNESS COMMUNICATION (P) LTD S 2100000 1.02
23/9/2009 533104 GLOBUS SPR VIJETA BROKING INDIA PRIVATE LIMITED B 99983 100.48
23/9/2009 533104 GLOBUS SPR KANUDIA CAPITAL AND MANAGEMENT SERVICES PVT LTD B 200000 109.72
23/9/2009 533104 GLOBUS SPR GENUINE STOCK BROKERS PVT. LTD. B 194937 100.96
23/9/2009 533104 GLOBUS SPR TRANSGLOBAL SECURITIES LTD. B 575538 100.80
23/9/2009 533104 GLOBUS SPR DKG SECURITIES PVT. LTD. B 441425 96.71
23/9/2009 533104 GLOBUS SPR MATRIX EQUITRADE PVT. LTD. B 112231 105.36
23/9/2009 533104 GLOBUS SPR MARWADI SHARES AND FINANCE LTD. B 140083 100.73
23/9/2009 533104 GLOBUS SPR EUREKA STOCK & SHARE BROKING SERVICES LTD B 185296 97.97
23/9/2009 533104 GLOBUS SPR SANJEEV SINGHAL B 107854 100.11
23/9/2009 533104 GLOBUS SPR OPG SECURITIES P LTD B 1043709 100.13
23/9/2009 533104 GLOBUS SPR R.M.SHARES TRADING PVT.LTD B 363405 100.93
23/9/2009 533104 GLOBUS SPR RAKHI KALPESH BHANDARI B 133514 98.58
23/9/2009 533104 GLOBUS SPR VIJETA BROKING INDIA PRIVATE LIMITED S 99983 100.17
23/9/2009 533104 GLOBUS SPR KANUDIA CAPITAL AND MANAGEMENT SERVICES PVT LTD S 200000 99.20
23/9/2009 533104 GLOBUS SPR GENUINE STOCK BROKERS PVT. LTD. S 194937 100.39
23/9/2009 533104 GLOBUS SPR TRANSGLOBAL SECURITIES LTD. S 575070 100.80
23/9/2009 533104 GLOBUS SPR DKG SECURITIES PVT. LTD. S 441425 98.69
23/9/2009 533104 GLOBUS SPR MATRIX EQUITRADE PVT. LTD. S 112231 105.09
23/9/2009 533104 GLOBUS SPR MARWADI SHARES AND FINANCE LTD. S 140083 100.18
23/9/2009 533104 GLOBUS SPR EUREKA STOCK & SHARE BROKING SERVICES LTD S 185296 98.00
23/9/2009 533104 GLOBUS SPR SANJEEV SINGHAL S 107854 100.24
23/9/2009 533104 GLOBUS SPR OPG SECURITIES P LTD S 1043709 100.17
23/9/2009 533104 GLOBUS SPR R.M.SHARES TRADING PVT.LTD S 363405 100.34
23/9/2009 533104 GLOBUS SPR VINIYOGA COMMERCIAL PVT.LTD. S 233403 95.73
23/9/2009 533104 GLOBUS SPR RAKHI KALPESH BHANDARI S 133514 99.35
23/9/2009 533104 GLOBUS SPR SANGHAI COMMERCIAL & CREDITS PVT. LTD. S 145941 108.58
23/9/2009 533104 GLOBUS SPR MARYTIME TRIMPEX P LTD S 303800 103.21
23/9/2009 533104 GLOBUS SPR CONCEPT COMMUNICATIONS LTD S 235631 108.79
23/9/2009 531439 GOLDSTON TEC HEMANT MADHUSUDAN SHETH B 150000 28.50
23/9/2009 531439 GOLDSTON TEC PREM MOHANLAL PARIKH S 112000 28.50
23/9/2009 500467 HARRISON MAL OPG SECURITIES P LTD B 147125 128.26
23/9/2009 500467 HARRISON MAL OPG SECURITIES P LTD S 147125 128.39
23/9/2009 523467 JAI MATA GLA SUNITA SHUKLA B 27000 6.17
23/9/2009 523467 JAI MATA GLA DYNAMIC STOCK BROKING INDIA PVT LTD B 15000 6.17
23/9/2009 523467 JAI MATA GLA MOTI LAL BHASIN S 150000 6.17
23/9/2009 532532 JAIPRAK ASSO MERRILL LYNCH CAPITAL MARKETS ESPANA SA SV B 8719625 237.97
23/9/2009 532532 JAIPRAK ASSO GACL TRUST S 10000000 239.11
23/9/2009 532532 JAIPRAK ASSO JEL TRUST S 10000000 238.04
23/9/2009 509715 JAYSHRE TEA OPG SECURITIES P LTD B 140382 295.62
23/9/2009 509715 JAYSHRE TEA OPG SECURITIES P LTD S 140382 295.77
23/9/2009 533103 JINDALCOTEX DEEPAK SHANTILAL CHHEDA B 178022 90.65
23/9/2009 533103 JINDALCOTEX TRANSGLOBAL SECURITIES LTD. B 577346 91.02
23/9/2009 533103 JINDALCOTEX HEMANSHU RAMNIKLAL SHAH B 191892 90.80
23/9/2009 533103 JINDALCOTEX OPG SECURITIES P LTD B 616202 91.95
23/9/2009 533103 JINDALCOTEX MANSUKH STOCKS BROKERS LTD. B 147837 91.15
23/9/2009 533103 JINDALCOTEX DEEPAK SHANTILAL CHHEDA S 178022 90.86
23/9/2009 533103 JINDALCOTEX TRANSGLOBAL SECURITIES LTD. S 577346 90.94
23/9/2009 533103 JINDALCOTEX HEMANSHU RAMNIKLAL SHAH S 191892 90.77
23/9/2009 533103 JINDALCOTEX OPG SECURITIES P LTD S 616202 91.95
23/9/2009 533103 JINDALCOTEX MANSUKH STOCKS BROKERS LTD. S 147837 91.08
23/9/2009 524826 JUPITER BIOS MANISH VRAJLAL SARVAIYA B 268218 86.67
23/9/2009 524826 JUPITER BIOS MANISH VRAJLAL SARVAIYA S 268218 86.00
23/9/2009 505283 KIRLOSAR PN KIRLOSKAR SYSTEMS LIMITED S 138000 399.00
23/9/2009 531528 MAARS SOFTWR BASMATI SECURITIES PVT LTD B 999843 4.57
23/9/2009 531528 MAARS SOFTWR MEGHA SAMIR JHAVERI B 950753 4.60
23/9/2009 531528 MAARS SOFTWR BASMATI SECURITIES PVT LTD S 799056 4.52
23/9/2009 531528 MAARS SOFTWR MEGHA SAMIR JHAVERI S 897728 4.59
23/9/2009 512167 MATRA REALT SIGRUN REALTIES LTD. B 200000 8.43
23/9/2009 512167 MATRA REALT GOPALA PILLAI VIJAYAKUMAR S 100000 8.43
23/9/2009 512167 MATRA REALT RAJESH C R NAIR S 125000 8.44
23/9/2009 502893 NEEMTEK ORG DUKE ADVISORS (P) LTD S 10000 111.40
23/9/2009 530377 NILA INFRAST MANOJBHAI BHUPATBHAI VADODARIA B 2000000 2.10
23/9/2009 530377 NILA INFRAST SHAILESHBHAI BHUPATBHAI VADODARIA S 2000000 2.10
23/9/2009 532837 ORBITCO OPG SECURITIES P LTD B 270544 232.91
23/9/2009 532837 ORBITCO OPG SECURITIES P LTD S 270544 233.12
23/9/2009 513121 ORICON ENT DILIP INDRAVADAN SHAH B 125000 152.69
23/9/2009 513121 ORICON ENT NINA SUNIL DALAL S 137870 152.48
23/9/2009 523483 PACIFIC INDU YOGENDRAKUMAR BOHRA B 10000 178.55
23/9/2009 523483 PACIFIC INDU YOGENDRAKUMAR BOHRA S 10000 175.80
23/9/2009 511702 PARSHART INV ASHLESH GUNVANTBHAI SHAH S 19000 18.24
23/9/2009 511652 RAM KAASHYAP PUNJABI JYOTIBEN B 37500 14.99
23/9/2009 511652 RAM KAASHYAP SUBHKARAN TILOKCHAND AGARWAL S 32000 14.71
23/9/2009 530461 SABOO SOD CH NEHA UMESH DHRUVA B 129508 10.39
23/9/2009 506172 SAMPADA CHEM THE PREMIER COMMERCIAL COPVT LTD S 42400 24.90
23/9/2009 526885 SARLA PER F VINOD RAHEJA P B 49516 69.81
23/9/2009 526885 SARLA PER F VINOD RAHEJA P S 49516 72.77
23/9/2009 526885 SARLA PER F MADANLAL DALMIA S 39000 69.97
23/9/2009 524540 SECUN HEALTH SAMEER N SHAH B 37874 29.73
23/9/2009 524540 SECUN HEALTH SUNEETHA MALYAVANTHAM S 32000 29.75
23/9/2009 524540 SECUN HEALTH SAMEER N SHAH S 36167 30.18
23/9/2009 526137 SHETRON LIMI COPTHALL MAURITIUS INVESTMENT LIMITED B 899650 29.70
23/9/2009 526137 SHETRON LIMI CITICORP FINANCE (INDIA) LTD S 899650 29.70
23/9/2009 531373 SUAVE HOTEL DEEPIKA CHURIWALA B 100000 31.65
23/9/2009 531373 SUAVE HOTEL ALKEN MANAGEMENT & FINANCIAL S S 150000 31.65
23/9/2009 532667 SUZLONENERGY CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED B 39685415 96.85
23/9/2009 532667 SUZLONENERGY TANTI GIRISHBHAI RANCHODBHAI S 39500000 96.86
23/9/2009 532667 SUZLONENERGY NIDHI TULSIBHAI TANTI S 12000000 96.86
23/9/2009 532790 TANLA KUWAIT INVESTMENT AUTHORITY KUWAIT INVESTMENT FUND B 1370000 73.47
23/9/2009 570001 TATAMOTORS-DVR-A-ORDY PRU INDIA EQUITY OPEN LIMITED B 486383 439.41
23/9/2009 570001 TATAMOTORS-DVR-A-ORDY TATA SONS LTD S 848057 439.41
23/9/2009 503657 VEER ENERGY YOGESH JAISUKHLAL SANGHVI S 456000 22.95
23/9/2009 531874 VENUS VENT ARVIND BABULALJI GOYAL B 34500 67.80
23/9/2009 513713 WHITE DIAM I VSL SECURITIES PVT LTD B 40180 5.00
23/9/2009 532795 WIRE& WIRLES TRANSGLOBAL SECURITIES LTD. B 1160045 21.75
23/9/2009 532795 WIRE& WIRLES TRANSGLOBAL SECURITIES LTD. S 1160045 21.81
23/9/2009 511601 YASH MANA SA EXPLICIT FINANCE LIMITED S 60845 10.04
NSE Bulk Deals to Watch - Sep 23 2009
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
23-SEP-2009,CORDSCABLE,Cords Cable Industries Li,JHAWAR DEO KISHAN,BUY,60000,47.19,-
23-SEP-2009,DHANBANK,The Dhanalakshmi Bank Ltd,SATYEN KANORIA,BUY,347646,166.03,-
23-SEP-2009,FCSSOFT,FCS Software Solutions Li,PUMARTH INFRASTRUCTURE PVT. LTD.,BUY,75000,82.01,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,BP FINTRADE PRIVATE LIMITED,BUY,214223,99.66,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,CPR CAPITAL SERVICES LTD.,BUY,160100,99.67,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,DINESH MUNJAL(HUF),BUY,182654,97.65,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,DKG SECURITIES PVT. LTD.,BUY,350000,108.07,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,G K SHARES AND SECURITIES PRIVATE LIMITED,BUY,123224,98.17,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,GENUINE STOCK BROKERS PVT LTD,BUY,211286,98.61,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,HARBUX SINGH SIDHU,BUY,136774,94.06,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,IDFC MUTUAL FUND,BUY,200000,99.03,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,KALASH SHARES & SECURITIES PRIVATE LIMITED,BUY,436350,99.34,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,KANUDIA CAPITAL & MANAGEMENT SERVICES PVT. LTD.,BUY,388592,94.98,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,MANIPUT INVESTMENTS PVT. LTD.,BUY,111281,103.20,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,MANSUKH SECURITIES & FINANCE LIMITED,BUY,227577,102.92,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,MARWADI SHARES AND FINANCE LIMITED,BUY,175556,100.32,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,OM INVESTMENTS,BUY,105829,105.25,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,R APPALA RAJU,BUY,110000,99.92,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,R.M. SHARE TRADING PVT LTD,BUY,419379,99.63,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,SANJAY BHANWARLAL JAIN,BUY,167787,95.69,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,SMITA M PATEL,BUY,103851,97.53,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,TOUCHSTONE FINVEST SERVICES PRIVATE LIMITED,BUY,237111,104.83,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,TRANSGLOBAL SECURITIES LTD.,BUY,535078,100.83,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,VAIBHAV DOSHI,BUY,90012,97.88,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,VIJETA BROKING INDIA PRIVATE LIMITED,BUY,117237,102.46,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,YES INVESTMENTS VISHAL KISHORE BHATIA,BUY,100200,96.44,-
23-SEP-2009,HARRMALAYA,Harrisons Malayalam Ltd,JAIN SONAL RAHUL,BUY,103000,120.67,-
23-SEP-2009,HARRMALAYA,Harrisons Malayalam Ltd,NIKON FINLEASE PVT. LTD,BUY,100573,127.48,-
23-SEP-2009,HARRMALAYA,Harrisons Malayalam Ltd,OM INVESTMENTS,BUY,206288,129.31,-
23-SEP-2009,HARRMALAYA,Harrisons Malayalam Ltd,SMART EQUITY BROKERS PRIVATE LIMITED,BUY,107665,129.97,-
23-SEP-2009,JAYSREETEA,Jayashree Tea Ltd.,MBL & COMPANY LTD.,BUY,99100,293.90,-
23-SEP-2009,JAYSREETEA,Jayashree Tea Ltd.,NIKON FINLEASE PVT. LTD,BUY,78936,293.15,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,AANGI SHARES & SERVICES PVT. LTD,BUY,195665,90.04,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,DINESH KISHORCHAND MEHTA HUF,BUY,160504,88.81,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,125857,91.21,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,JAMEELA AMEER ABDULKHADER,BUY,224930,90.17,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,BUY,243804,92.53,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,MANSUKH SECURITIES & FINANCE LIMITED,BUY,146601,90.96,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,OM INVESTMENTS,BUY,199363,91.23,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,RAMESHCHNADRA DALI CHAND VASANI - HUF,BUY,192305,88.29,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,SHAH HEMANSHU RAMNIKLAL,BUY,175464,92.59,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,525445,91.03,-
23-SEP-2009,JPASSOCIAT,Jaiprakash Associates Lim,HSBC GLOBAL EMERGING MARKETS EQUITY FUND,BUY,11200510,238.00,-
23-SEP-2009,ORBITCORP,Orbit Corporation Limited,KUWAIT INV AUTHORITY- KUWAIT INV -FUND 205,BUY,617920,232.64,-
23-SEP-2009,TANLA,Tanla Solutions Limited,KUWAIT INV AUTHORITY-KUWAIT INV -FUND 205,BUY,2536022,73.01,-
23-SEP-2009,TATAMTRDVR,Tata Motors DVR 'A' Ord,PRU INDIA EQUITY OPEN LTD,BUY,513617,439.02,-
23-SEP-2009,WWIL,Wire and Wireless (India),TRANSGLOBAL SECURITIES LTD.,BUY,1216828,21.86,-
23-SEP-2009,ASAHIINDIA,Asahi India Glass Limited,CREDIT SUISSE (SINGAPORE) LIMITED A/C CREDIT SUISSE (SINGAP,SELL,1184953,59.39,-
23-SEP-2009,CORDSCABLE,Cords Cable Industries Li,JHAWAR DEO KISHAN,SELL,60000,48.96,-
23-SEP-2009,DHANBANK,The Dhanalakshmi Bank Ltd,SATYEN KANORIA,SELL,347940,166.34,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,BP FINTRADE PRIVATE LIMITED,SELL,214223,99.44,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,CENTRAL BANK OF INDIA,SELL,199990,105.27,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,CONCEPT COMMUNICATION LTD,SELL,188588,91.78,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,CPR CAPITAL SERVICES LTD.,SELL,160100,99.74,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,DINESH MUNJAL(HUF),SELL,182654,97.32,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,DKG SECURITIES PVT. LTD.,SELL,350000,101.93,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,G K SHARES AND SECURITIES PRIVATE LIMITED,SELL,123224,98.37,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,GENUINE STOCK BROKERS PVT LTD,SELL,211286,99.19,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,HARBUX SINGH SIDHU,SELL,131774,93.93,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,INDIA MAX INVESTMENT FUND LTD,SELL,742607,103.53,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,KALASH SHARES & SECURITIES PRIVATE LIMITED,SELL,436350,99.54,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,KANUDIA CAPITAL & MANAGEMENT SERVICES PVT. LTD.,SELL,388592,94.91,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,MANIPUT INVESTMENTS PVT. LTD.,SELL,111281,103.30,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,MANSUKH SECURITIES & FINANCE LIMITED,SELL,227577,103.25,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,MARWADI SHARES AND FINANCE LIMITED,SELL,175556,101.09,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,OM INVESTMENTS,SELL,105829,105.38,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,R APPALA RAJU,SELL,110000,101.32,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,R.M. SHARE TRADING PVT LTD,SELL,419379,100.17,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,SANJAY BHANWARLAL JAIN,SELL,167787,95.46,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,SMITA M PATEL,SELL,103851,98.09,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,TOUCHSTONE FINVEST SERVICES PRIVATE LIMITED,SELL,237111,101.48,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,TRANSGLOBAL SECURITIES LTD.,SELL,532772,100.97,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,VAIBHAV DOSHI,SELL,109321,100.15,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,VIJETA BROKING INDIA PRIVATE LIMITED,SELL,117237,103.09,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,VINIYOGA COMMERCIAL PVT.LTD.,SELL,297296,100.49,-
23-SEP-2009,GLOBUSSPR,Globus Spirits Limited,YES INVESTMENTS VISHAL KISHORE BHATIA,SELL,100200,101.53,-
23-SEP-2009,HARRMALAYA,Harrisons Malayalam Ltd,JAIN SONAL RAHUL,SELL,6117,130.19,-
23-SEP-2009,HARRMALAYA,Harrisons Malayalam Ltd,NIKON FINLEASE PVT. LTD,SELL,100573,127.56,-
23-SEP-2009,HARRMALAYA,Harrisons Malayalam Ltd,OM INVESTMENTS,SELL,206288,129.45,-
23-SEP-2009,HARRMALAYA,Harrisons Malayalam Ltd,SMART EQUITY BROKERS PRIVATE LIMITED,SELL,106165,130.28,-
23-SEP-2009,JAYSREETEA,Jayashree Tea Ltd.,MBL & COMPANY LTD.,SELL,99100,294.21,-
23-SEP-2009,JAYSREETEA,Jayashree Tea Ltd.,NIKON FINLEASE PVT. LTD,SELL,78936,293.44,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,AANGI SHARES & SERVICES PVT. LTD,SELL,225665,90.76,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,DINESH KISHORCHAND MEHTA HUF,SELL,160504,89.66,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,125857,91.25,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,JAMEELA AMEER ABDULKHADER,SELL,224930,88.12,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,SELL,243804,92.50,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,MANSUKH SECURITIES & FINANCE LIMITED,SELL,146601,91.27,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,OM INVESTMENTS,SELL,199363,91.32,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,RAMESHCHNADRA DALI CHAND VASANI - HUF,SELL,192305,88.66,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,SHAH HEMANSHU RAMNIKLAL,SELL,175464,93.49,-
23-SEP-2009,JINDCOT,Jindal Cotex Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,525445,91.23,-
23-SEP-2009,JPASSOCIAT,Jaiprakash Associates Lim,JCL TRUST,SELL,10000000,238.51,-
23-SEP-2009,JPASSOCIAT,Jaiprakash Associates Lim,JEL TRUST,SELL,10000000,238.40,-
23-SEP-2009,JPASSOCIAT,Jaiprakash Associates Lim,JHL TRUST,SELL,10000000,238.07,-
23-SEP-2009,SUZLON,Suzlon Energy Limited,BRIJ JITENDRA TANTI,SELL,18500000,96.86,-
23-SEP-2009,TATAMTRDVR,Tata Motors DVR 'A' Ord,Tata Sons Ltd,SELL,910284,439.45,-
23-SEP-2009,WWIL,Wire and Wireless (India),TRANSGLOBAL SECURITIES LTD.,SELL,1216828,21.83,-
Post Session Commentary - Sep 23 2009
Indian market slumped sharply during final trading to close lower after exhibiting volatility during the trading as investors booked profit in key stocks following recent gains. Benchmark indices were not able to stick on a particular direction on continuous bouts of buying and selling ahead of the F&O expiry scheduled on Thursday, 24th September 2009. Investors were cautious, though tried to recover during early afternoon trade on some buying in key stocks. However, the upturn was short-lived and domestic bourses once again slipped into red. The BSE Sensex ended below 16,750 level and NSE Nifty closed below 5,000 mark.
The domestic market opened on flat note backed by the mixed cues from the markets all over the world. The Asian markets were lower in early trade whereas, the US stock market closed higher on Tuesday after the two-year treasury auction results met with strong demand. In addition, the sharp retreat in dollar encouraged buying in commodities and commodity allied stocks. Further, lack of positive news restricted benchmark indices to gather momentum and volatility ruled the domestic bourses. Meanwhile, during afternoon trade stocks slashed losses after positive opening of European markets. However, market was unable to carry same impetus and slipped again. Market lost more ground during final trading to end the day with losses after huge selling pressure emerged across the board. From the sectoral front, investors off-loaded positions across the sectors barring Oil & Gas stocks. Among those most of the selling was witnessed in Realty, Teck, IT, Capital Goods, FMCG, Power and Auto stocks. BSE Mid Caps and Small Caps stocks remained under selling pressure.
Among the Sensex pack 25 stocks ended in red territory and 5 in green territory. The market breadth indicating the overall health of the market remained negative as 1785 stocks closed in red while 1001 stocks closed in green and 79 stocks remained unchanged in BSE.
The BSE Sensex closed lower by 166.93 or (0.99%) points at 16,719.50 and NSE Nifty ended down by 50.25 points or (1%) at 4,969.95. BSE Mid Caps and Small Caps closed with losses of 76.16 and 101.99 points at 6,140.83 and 7,349.03 respectively. The BSE Sensex touched intraday high of 16,905.58 and intraday low of 16,683.78.
Losers from the BSE Sensex pack are JP Associates (6.34%), Bharti Airtel (3.54%), RCom (3.01%), M&M Ltd (2.62%), Reliance Infra (2.34%), Hincalco (2.12%), L&T Ltd (2%), HUL (1.98%), ACC Ltd (1.8%), Infosys Tech (1.66%), TCS Ltd (1.60%), Wipro Ltd (1.57%), ITC Ltd (1.33%), DLF Ltd (1.30%) and SBI (1.27%).
Gainers from the BSE Sensex pack are HDFC Bank (1.45%), Sterlite Indsutries (1.09%), ONGC Ltd (0.65%), Sun Pharma (0.58%) and Reliance (0.24%).
On the global markets front, the Asian markets that opened before the Indian market, ended mostly lower. Investors waited for clues from the US Federal Reserve about the global recovery''s strength. Shanghai Composite, Hang Seng, Nikkei 225 and Seoul Composite closed down by 54.83, 105.62, 73.26 and 7.41 points at 2,842.72, 21,595.52, 10,370.54 and 1,711.47 respectively. However, Singapore''s Straits Times ended with marginal gain of 0.31 points at 2,685.94.
European markets, which opened after the Indian market, are trading up. In Paris the CAC 40 is higher 8.92 points at 3,832.44, in Frankfurt DAX index is trading up 13.59 points at 5,722.97 and in London FTSE 100 is trading higher 16.91 points at 5,159.51.
The BSE REALTY index was at 4,414.64 down by 104.26 points or by (2.31%). The main losers were Sobha Dev down by (5.7%) at Rs.258, Housing Dev down by (4.49%) at Rs.321.2, Anant Raj In down by (3.57%) at Rs.140.35, Ansal Infras down by (3.5%) at Rs.75.9 and Unitech Ltd down by (3.19%) at Rs.109.1.
The BSE TECk index was at 3,237.04 down by 65.52 points or by (1.98%). The main losers were Ht Media down by (6.4%) at Rs.125.05, Aptech Ltd down by (4.84%) at Rs.278.35, Rolta Ind down by (3.73%) at Rs.174.2, Ibn18 down by (3.61%) at Rs.112.15 and Bharti Artl down by (3.43%) at Rs.413.4.
The BSE IT index was at 4,562.98 down by 80.03 points or by (1.72%). The main losers were Aptech Ltd down by (4.84%) at Rs.278.35, Rolta Ind down by (3.73%) at Rs.174.2, Mphasis Ltd down by (2.85%) at Rs.639.75, Moser Baer down by (2.72%) at Rs.96.6 and CL Tech down by (2.59%) at Rs.333.
The BSE CAPITAL GOODS index was at 13,500.92 down by 212.45 points or by (1.55%). The main losers were Suzlon Energy lower by (6.10%) at Rs.94.65, Jyoti Struct down by (4.83%) at Rs.158.45, Alstom Proje (4.07%) at Rs.546.85, Lakshmi Machine Works (3.49%) at Rs.1,378 and Usha Martin down by (3.42%) at Rs.70.55.
The BSE FMCG index was at 2,543.75 down by 33.25 points or by (1.29%) The main losers were Godrej Cons down by (2.5%) at Rs.241.95, HUL down by (2.38%) at Rs.258.2, United Brew down by (2.32%) at Rs.145.5, Colgate Palm down by (1.54%) at Rs.621.9 and I T C Ltd down by (1.33%) at Rs.230.2.
The BSE POWER index was at 3,032.29 down by 34.24 points or by (1.12%). The main losers were Suzlonenergy down by (6.1%) at Rs.94.65, Lanco Infra down by (4.29%) at Rs.460.45, Rpower down by (2.85%) at Rs.167.3, Neyveli Lig down by (2.64%) at Rs.132.95 and Rel Infra down by (2.34%) at Rs.1216.3.
The BSE OIL&GAS index was at 10,139.86 up by 16.67 points or by (0.16%). The main gainers were Gail India up by (1.42%) at Rs.353.85, Indian Oil C up by (0.74%) at Rs.661.9, Ong Corp Ltd up by (0.5%) at Rs.1161.25 and Reliance up by (0.24%) at Rs.2101.4.
Opto Circuits (I) Ltd. lost 0.97%. The company has signed a strategic long-term agreement with a European manufacturer and distributor of medical equipment.
Tata Communications Ltd dropped by 0.25%. The company has launched its "Internet Clean Pipe Solution" for the small and medium business segments.
Patni Computer System ended down by 1.79%. The company in India has deployed VMware visualization platform to arrest rising IT management costs resulting from supporting strong business growth worldwide.
TCS Ltd decreased by 1.60%. Andhra Pradesh government awards country''s largest SWAN project to Tata Consultancy Services on five year Build, Own, Operate and Transfer (BOOT) model.
ONGC Ltd gained 0.50%. ONGC retains its position as the company with highest dividend payout. AGM approves Dividend for FY ''09 at Rs 32 per share, at par with last year.
Kale Consultants Ltd. advanced by 4.99%. The company announced that it has been awarded the "Emerging IT Solutions Provider in the Logistics Industry" at the Express, Logistics & Supply Chain (ELSC) Conclave 2009.
Asian markets manages mix closing
Shanghai, Sensex, Hang Seng, Taiex finish lower while Sydney, Strait times close higher
Stock market in Asian region closed mixed on Wednesday, 23 September 2009, with Wall Street's rise and buoyant commodity prices supporting some markets though others were weighed by a lackluster performance by China shares.
On Wall Street, commodities staged a comeback and stocks tread softly higher, as Wall Street guessed at what news may come out of the Federal Reserve's two-day policy-making meeting. Led by industrials and financials, the Dow Jones Industrial Average climbed 51.01 points, or 0.5%, to 9829.87. The S&P 500 advanced 7 points, or 0.7%, to 1071.66, and the Nasdaq Composite added 8.26 points, or 0.4%, to 2146.30.
In the commodity market, crude oil was little changed in New York before a report forecast to show that U.S. inventories of heating oil and other distillate fuels rose from their highest in 26 years.
Crude oil for November delivery traded at $71.40 a barrel, down 36 cents, in electronic trading on the New York Mercantile Exchange at 11:08 a.m. London time, after falling as low as $71.13 a barrel. The contract for October expired yesterday, settling at $71.55 a barrel, up $1.84.
Brent crude oil for November settlement dropped as much as 63 cents, or 0.9%, to $69.90 a barrel on the London-based ICE Futures Europe exchange. The contract traded at $70.24, down 29 cents, at 10:50 a.m. London time.
Gold advanced as a weakness in the dollar bolstered the precious metal’s appeal as an alternative investment. Gold for immediate delivery gained as much as 0.5% to $1,019.03 an ounce and traded at $1,014.90 at 2:45 a.m. in Singapore.
In the currency market, the U.S. dollar tumbled across the board in Asia on Wednesday, hitting fresh annual lows against the euro, the New Zealand dollar and the Australian dollar ahead of the latest update on monetary policy by the U.S. Federal Reserve expected later in the day.
After a shaky start to the day, the greenback regained lost ground as Asian stocks went into negative territory, but remains weaker overall. This has been sustained by the widely held view that U.S. rates will remain at ultra-low levels for a sustained period, minimizing the appeal of U.S.-dollar holdings.
The Japanese yen weakened against US Dollar. The Japanese yen was quoted at 91.2200 against the US dollar.
The Hong Kong dollar was trading at HK$ 7.7505 against the dollar. Actually The Hong Kong dollar is pegged at HK$ 7.8 to the U.S. dollar but can trade between HK$ 7.75 and HK$7.85 to the U.S. dollar.
In Sydney trade, the Australian dollar thrusted to a 13-month high against a slumping US dollar, riding on the coat-tails of positive sentiment across the Tasman where new data showed the New Zealand economy grew unexpectedly in the second quarter. At the local close, the dollar was trading at $US0.8740, after having climbed as high as $US0.8790, up nearly a cent from yesterday’s close of $US0.8719.
In Wellington trade, the New Zealand dollar reached multi-month highs against major currencies overnight as the greenback weakened further. Basking in good economic news, the kiwi went above US72c for the first time in 13 months, peaking at US72.43c overnight.
The South Korean currency rose to the 1,100-won level against the U.S. dollar for the first time in about a year on Wednesday as foreign investors bought Seoul shares amid recovery hopes. The local currency closed at 1,194.4 won to the greenback, up 9.4 won or 0.79 percent from the previous session. It was the first time that the Korean unit has broken through the 1,200-won level to the dollar since 1 October 2008.
The Taiwan dollar strengthened against the greenback. The Taiwan dollar was trading higher against the US dollar at NT$ 32.3430, 0.0440 up from Tuesday’s close of NT$32.3860.
Coming back in equities, Asian share markets were mixed with Wall Street's rise and buoyant commodity prices supporting some markets though others were weighed by a lackluster performance by China shares.
Stock markets in Japan were closed for Autumnal Equinox Day, while those in Indonesia and Pakistan remain shut for religious holidays.
In Mainland China, share market tanked, as heavy selling pressure in the afternoon trading on persistent worries about liquidity squeeze in a market following dozen of IPO approval by Chinese regulator. Significant selling pressures in Energy stocks weighed down the energy sector most, meanwhile materials also dragged the market with steel makers leading declines on concerns over inventory levels and stock overvaluation.
The Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, stumbled 54.83 points, or 1.89%, to 2,842.72, while the CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, stumbled 2.27%, to 3,060.07.
In Hong Kong, the stock market weighed down by financials and properties on a report Standard Chartered stopped offering discounts to mortgage customers. Meanwhile, lackluster performance by China shares fueling the declines. The Hang Seng Index stumbled 105.62 points, or 0.49%, to 21,595.52, while the Hang Seng China Enterprise slid 79.74 points, or 0.64%, to 12,431.81.
In Australia, the shares market raised first time in four sessions, boosted by Strong Wall Street overnight with higher metals and oil prices and on signs New Zealand is emerging from recession territory. Stronger metals prices lifted shares of Anglo-Australian miners BHP Billiton and Rio Tinto, while sharp rebound in crude oil prices buoyed up Woodside Petroleum and Origin Energy. Banks and retailers were benefited amid optimism that an economic recovery would spur demand.
At the closing bell, the benchmark S&P/ASX200 index surged 70.4 points, or 1.51%, to 4,734.1, meanwhile the broader All Ordinaries spurted 69.9 points, or 1.5%, to 4,741.
On the economic front, the Department of Employment and Workforce Relations said that Job vacancies for skilled workers in Australia climbed 1.2% in September compared to the previous month. On an annual basis, skilled vacancies remain down 50.4%.
In New Zealand, stock market gained after sliding for two days in a row. The shares were mostly optimistic after the country’s GDP registered growth, putting an end to its 15-month recession. The NZX50 moved forward 0.16% or 5.04 points to 3147.91. The NZX 15 however, was up 0.27% or 15.54 points to close at 5764.22.
On the economic front, New Zealand's gross domestic produce increased by 0.1 percent during the three months through June 2009. The economy grew slightly in the second quarter of 2009, ending a 15-month recession, statistics New Zealand reported on Wednesday. Although the economy grew by the barest of margins, up just 0.1% in the June quarter according to official figures, the figures were better than expected with most expecting another quarter of contraction.
In South Korea, stocks closed lower as institutions indulged in profit taking following the previous session's strong gains. The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.41 points to 1,711.47. Institutional investors continued their net selling for a fifth session while foreigners snapped up local shares for a 14th day.
In Singapore, stock market finished the subdued session flat, as gains from commodities and palm oil related stocks offset by losses among financials and properties after Singapore’s consumer prices fell for a fifth straight month in August. Chinese origin stocks tumbled on worries about stocks valuation and market liquidity. The blue chip Straits Times Index was ended at 2,685.94, added 0.31 point, or 0.01%.
On the economic front, the Department of Statistics said in a statement today the consumer price index declined 0.3% in August from a year earlier, after falling 0.5% in July.
In Taiwan, stock market woe losses on Wednesday, ending the day at a one-week closing low, as investors stayed cautious ahead of the central bank's board meeting scheduled to be held on Thursday, with financial shares leading losses after a recent rally.
Taiwan’s central bank will hold a rate-setting meeting on tomorrow. It’s benchmark discount rate at a record low of 1.25% and expected to the same for near future. Investors generally hold an optimistic view about the economy, but a rising jobless rate tells a different story. Taiwan’s seasonally adjusted jobless rate rose to a record of 6.07% in August from 6.01% in July.
The benchmark Taiex share index continued shift lower in the third session of the third week of September as it finishing lour by 92.27 points or 1.24% in a day, closing the day at 7376.76, weakest closing since 15 September 2009. The daily change was worst since 18 August 2009 when market gave up 142.03 points.
In Philippines, the stock market closed higher, as investor’s sentiment were propped up by the positive economic projection, which in turn boosted the investors to buy the key heavy weight stocks. Economic activity in the Philippines will pick up in the second half of 2009, and reach modest growth rates in 2010, supported by the Government's fiscal stimulus measures and the gradual global recovery, the Asian Development Bank (ADB) said in a report yesterday. The benchmark index PSEi escalated 2.07% or 57.73 points to 2,842.51, while the All Shares index rose 34.25 points or 1.91% to 1,823.83.
In India, the key benchmark indices slumped in the last one-hour of trade on fears a glut in share sales may suck liquidity from the secondary market. Profit taking emerged after a strong rally this month took the market to a 16-month high on yesterday. Volatility was the order of the day as traders rolled over derivatives contracts from September 2009 series to October 2009 series ahead of the expiry of September 2009 contracts on Thursday, 24 September 2009.
The BSE 30-share Sensex was down 166.93 points or 0.99% to 16719.50. The Sensex rose 19.07 points at the day's high of 16,905.58 in early trade. The barometer index fell 202.65 points at the day's low of 16,683.78 in late trade. The S&P CNX Nifty was down 50.25 points or 1% to 4969.25.
Elsewhere, Malaysia's Kula Lumpur Composite index went down 0.17% or 2.13 points to 1219.07.
In other regional markets, Europe stocks rose on Wednesday as a bevy of companies hit shareholders for cash to rebuild recession-battered balance sheets. The German DAX rose 0.26% or 14.63 points to 5,724, the U.K. FTSE 100 added 0.36% or 18.46 points to 5,161 and the French CAC 40 rose 0.22% or 8.27 points to 3,832.
Market snaps 5-day winning streak
The key benchmark indices snapped last five days' gains on fears a glut in share sales may suck liquidity from the secondary market. Profit taking emerged after a strong rally this month that took the market to a 16-month high on Tuesday, 22 September 2009. Volatility was the order of the day as traders rolled over derivatives contracts from September 2009 series to October 2009 series ahead of the expiry of September 2009 contracts on Thursday, 24 September 2009. The BSE 30-share Sensex fell 166.93 points or 0.99%, off close to 190 points from the day's high and up about 30 points from the day's low.
IT, realty, telecom and capital goods stocks led the losses. The S&P CNX Nifty closed below the psychological 5,000 mark after holding above that level for most part of the day. Nifty had settled above 5,000 mark for the first time in 16-months on Tuesday. The market breadth was weak.
Foreign funds continued their buying spree, pumping in a net Rs 1748.99 crore in equities today, 23 September 2009, provisional data released by the stock exchanges showed. Domestic funds bought stocks worth a net Rs 500.47 crore
Amid a bout of volatility the market hovered between positive and negative zone in early trade. It weakened later on lower Asian stocks. The market recovered from lower level in mid-morning trade after hitting a fresh intraday low. Volatility was witnessed again in early afternoon trade as the Sensex cut losses after hitting a fresh intraday low. The market moved into the positive zone for a short while before slipping into the red again in afternoon trade. The market hit positive zone for a brief period again before slipping into the red in mid-afternoon trade. The market slumped in the last one hour of trade.
Rollover in Nifty futures improved to 36% at end of Tuesday's (22 September 2009) trading from a mere 20% at the end of Friday's (18 September 2009)'s trading. The market was closed on Monday, 21 September 2009, for a public holiday. Rollover in Mini Nifty futures was about 35%.
Among individual stocks, L&T, Hero Honda, India Cements, Power Grid Corporation, and M&M, have seen substantial rollover. Stocks with low rollover include Welspun-Gujarat Stahl Rohren, Dish TV, Steel Authority of India, Indiabulls Real Estate and Shree Renuka Sugars.
There was a substantial fund raising by Indian firms and in one case by promoters on Wednesday, 23 September 2009. Construction and engineering firm Jaiprakash Associates has reportedly raised nearly $250 million through the sale of a large number of treasury shares. Promoters of wind turbine maker Suzlon Energy sold 7 crore shares to raise about $142 million. The proceeds would be infused into the company. Meanwhile, drug maker Cipla has reportedly raised about $140 million by selling shares to institutional investors at Rs 263.75 each.
The corporate sector has raised large sums of money through equity and equity related instruments in the past six months or so to either to retire high cost debt or to fund expansion. The supply of paper by Indian firms appear limitless, raising concerns that additional share sales will suck liquidity from the secondary market.
As per one report, companies plan to raise at least Rs 40,000 crore through initial public offers (IPOs)/follow on public offers (FPOs) in the second half of the current financial year. Power companies such as GMR Energy, Indiabulls Power and JSW Energy and state-run Bharat Heavy Electricals and NTPC are likely to tap the primary market. Reliance Infratel also announced on Tuesday its intention to raise Rs 5,000 crore from the primary market. A number of companies are also in the fray to raise funds by way of qualified institutional placement (QIP), reports suggest.
Meanwhile, Finance Minister Pranab Mukherjee today said India's economic growth in the September 2009 quarter will be better than in the June 2009 quarter. The economy grew an annual 6.1% in the April-June quarter, the first of 2009/10 fiscal year.
Mukherjee had said on Saturday, 19 September 2009, that the Centre will not roll back the stimulus package given to the industry in wake of the global economic meltdown till signs of clear recovery are visible across recession-hit US and Europe. The Finance Minister also said on that day that the nation's equities index is moving steadily and authorities will avoid disturbing the pattern.
The Prime Minister today said the global economy and financial markets have shown an improvement since G20 summits earlier this year, but the world economy was still not out of woods.
The world economy is likely to be the focus of a two-day G20 financial summit in Pittsburgh on 24-25 September 2009. The G20 leaders will discuss overhauling global financial regulation and fixing long-term imbalances in the world economy. The G20 leaders are also considering ways to rein in bank bonuses that many say contributed to the global financial crisis by encouraging excessive risk-taking. Bank bonuses are part of the G20 agenda to consider ways to reshape global financial rules after the 2008-2009 crisis.
Leaders from some of the largest Western powers rallied support Tuesday behind a US plan to build a more balanced global economy and warned against returning to business as usual once recovery takes hold.
Closer home, there is optimism about Q2 September 2009 results after advance tax collections registered a positive growth in the second quarter after witnessing a negative growth in the first quarter. Corporate advance tax and advance personal income-tax were up by 14.7% and 1.7%, respectively in the September 2009 quarter. Higher advance tax payment indicates good Q2 September 2009 results from India Inc. next month.
Among top Indian firms, State Bank of India (SBI) paid advance tax of Rs 1,832 crore in the September 2009 installment, 17.4% higher than Rs 1,560 crore it paid in same period last year. But oil major ONGC's tax outgo dipped by 25.5% to Rs 1,796 crore in the second tranche this fiscal compared with last year's Rs 2,412 crore.
Bharti Airtel's advance tax outgo rose by a whopping 220% to Rs 484 crore in second installment while Infosys registered a 100% increase in its advance tax payment to Rs 300 crore. Similarly, Mukesh Ambani-led Reliance Industries registered a 69% jump in its tax payment to Rs 1,157 crore and Maruti Suzuki paid 97.76% higher tax at Rs 265 crore in the second installment.
Earlier, market expectations of strong Q2 results were tempered after a news agency quoted an unnamed government official as saying on 17 September 2009 that the government expects only a marginal improvement in corporate advance tax in second quarter.
The Prime Minister today said steps taken by the G20 to augment the resources of multilateral development banks have led to substantial stepping up of World Bank lending to India. The World Bank on Tuesday approved $4.3 billion in loans for India to help finance infrastructure building and to shore up the capital of some state banks.
Meanwhile, the Securities Exchange Board of India (SEBI) on Tuesday, 22 September 2009, revised takeover norms. Sebi Chairman C B Bhave said on Tuesday the board has approved two changes in the Indian Depository Receipts (IDR) norms and has allowed the concept of anchor investors for IDRs. He added that the takeover regulation were applicable for American Depositary Receipt (ADR) as well as Global Depositary Receipt (GDR) holders with voting rights. He said that GDR/ADR holders with voting right would now be on par with domestic shareholders but added that there would be no retrospective effect to the amendment on takeover norms.
Changes in the takeover code also made it compulsory for holders of depositary receipts to make an open offer once their holding crossed the 15% threshold limit in an Indian firm. Earlier, an open offer was triggered only on conversion of depositary receipts into shares with voting rights.
European stocks inched higher on Wednesday, led by banks ahead of the US Federal Reserve's rate decision. Key benchmark indices in France, Germany and UK were up by between 0.37% to 0.57%.
Asian stocks reversed initial gains on Wednesday as caution prevailed ahead of the US Federal Reserve policy meeting on interest rates. Key benchmark indices in Hong Kong, South Korea, and Taiwan were down by between 0.43% to 1.24%.
China's Shanghai Composite fell 1.89% after a regulator approved more listings on the planned trading board for smaller companies. Investors are worried that stock prices could be dampened by more initial public offerings.
Japanese stock markets have been shut since Monday, 21 September 2009, for national holiday. Trading will begin on Thursday, 24 September 2009.
US index futures reversed early losses. Trading in US index futures indicated the Dow could rise 18 points at the opening bell today, 23 September 2009.
US markets closed at fresh 2009 highs on Tuesday as the two-year treasury auction met with strong demand and the dollar retreated. The falling dollar drove buying in commodities and commodity-related stocks. The Dow Jones industrial average gained 51.01 points, or 0.5%, to 9,829.87. The S&P 500 index gained 7 points or 0.7%, to 1,071.66, while the Nasdaq Composite Index rose 8.26 points, or 0.4%, to 2,146.30.
At the end of the two-day policy meeting of the Federal Open Market Committee on Wednesday, 23 September 2009, the Fed policy makers may reportedly take note of an improving economy, while cautioning that high unemployment puts the recovery at risk. The Fed is expected to hold rates steady but markets will be interested to know when its ultra-loose policy will start to be tightened.
The BSE 30-share Sensex fell 166.93 points or 0.99% to 16719.50. The Sensex rose 19.07 points at the day's high of 16,905.58 in early trade. The barometer index fell 202.65 points at the day's low of 16,683.78 in late trade.
The S&P CNX Nifty fell 50.25 points or 1% to 4969.95. Nifty September 2009 futures were at 4966.60, at a discount of 3.35 points as compared to the spot closing of 4969.95. Turnover in NSE's futures & options (F&O) segment jumped to Rs 91,178.35 crore from Rs 82,944.72 crore on Tuesday, 22 September 2009.
BSE clocked turnover of Rs 6626 crore, higher than Rs 5679.29 crore on Tuesday, 22 September 2009.
The Sensex had jumped 672.24 points or 4.14% in five trading sessions to 16886.43 on Tuesday 22 September 2009 from a recent low of 16,214.19 on 14 September 2009 to 16886.43 on Tuesday 22 September 2009. The Sensex is up 7,072.19 points or 73.3% in calendar year 2009 as on 23 September 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex is up 8,559.10 points or 104.88% as on 23 September 2009. FII inflow in the calendar year 2009 totaled Rs 49554.60 crore (till 18 September 2009).
Coming back to today's trade, the BSE Mid-Cap index fell 1.23% and the BSE Small-Cap index fell 1.37%. Both the indices underperformed Sensex.
The BSE Realty index (down 2.31%), the BSE Teck index (down 1.98%), the BSE IT index (down 1.72%), the BSE Capital Goods index (down 1.55%), the BSE FMCG index (down 1.29%), the BSE Power index (down 1.12%), the BSE Auto index (down 1.07%), underperformed the Sensex.
The BSE Oil & Gas index (up 0.16%), the BSE Bankex (down 0.11%), the BSE Healthcare index (down 0.17%), the BSE PSU index (down 0.26%), the BSE Metal index (down 0.64%), the BSE Consumer Durables index (down 0.93%), outperformed the Sensex.
The market breadth, indicating the overall health of the market was weak. The breadth turned negative from strong breadth in early trade. On BSE, 996 shares rose as compared with 1,784 that declined. A total of 80 shares remained unchanged.
Among the 30-member Sensex pack, 25 fell and rest rose.
Index heavyweight Reliance Industries (RIL) was up 0.24% to Rs 2,101.40 on reports the outlook for Asian oil refiners, previously hit by a sharp fall in margins, is now improving on a likely ramp-up in demand and slowing capacity expansion. The stock also got support from higher advance tax payment in second installment. But the stock was off the day's high of Rs 2,115.
The stock was under pressure late last week following a large treasury share sale by the company in the secondary market. Petroleum Trust on Thursday sold 1.5 crore equity shares of RIL through block deals on the bourses at Rs 2125 per share. The financial impact of the transaction will be reflected in the consolidated statements, RIL said.
Reliance Industries on Tuesday said that it has fixed 29 September 2009 as the record date for shareholders of Reliance Petroleum (RPL) to receive equity shares of Reliance Industries under a merger scheme.
IT stocks fell on a rally in rupee against dollar. India's largest IT exporter by sales Tata Consultancy Services fell 1.6%. The company's unit last week secured overseas contracts worth around $25 million from different players for implementing its financial software products in the Asia-Pacific and the US.
India's second largest software services exporter by sales Infosys fell 1.66% even as its ADR rose 0.65 % on Tuesday, 22 September 2009. Infosys still finds the business situation quite challenging and decision making by clients continues to be slow, Chief Operating officer S.D. Shibulal said on Tuesday. He also said last month' s outsourcing contract from oil and gas major British Petroleum Plc was worth $116 million over five years.
India's third largest software services exporter by sales Wipro fell 1.57% even as its ADR rose 1.9% on Tuesday. The company recently won a three-year outsourcing contract from All Nippon Airways, Japan's No.2 carrier.
The rupee pared gains after rising to a six-week high on Wednesday. The partially convertible rupee was at 48.07/09 per dollar, weaker than Tuesday's close of 47.9550/9650. A firm rupee adversely affects operating profit margins of IT firms as the sector derives a lion's share of revenue from exports.
India's largest power equipment maker by sales Bharat Heavy Electricals fell 0.44%. As per recent reports, the company has won an order worth Rs 1300 crore for an upcoming Vallur Thermal Power project at Ennore in Tamil Nadu. The power project is being set up by a joint venture between NTPC and the Tamil Nadu Electricity Board (TNEB).
Among other capital goods stocks, Siemens, Larsen & Toubro, ABB, Thermax, fell by between 0.31% to 2.58%.
Realty stocks fell on profit taking. DLF, Omaxe, Sobha Developers, Indiabulls Real Estate and Unitech fell by between 1.3% to 5.7%.
Realty stocks have risen in the past few days on reports demand for residential projects in major cities is picking up on lower home loan rates, property price cuts by developers and a recovery in the job market. Realty market had slumped last year amid a global credit crunch and buyers fearing job losses.
India's largest telecom player by sales Bharti Airtel fell 3.43%. Bharti Airtel on Tuesday said that the merger talks with South African major MTN will be compliant with the laws in both countries. The company said that it will approach relevant authorities for approvals or exemptions, if required, at the appropriate time. Sebi's amendment in takeover norms on Tuesday whereby the applicability of takeover norms has been extended to GDRs/ADRs may make fructification of the Bharti-MTN merger deal difficult.
Bharti and MTN have been in negotiations since 25 May 2009 on a $23 billion cash and share-swap deal aimed at an eventual full merger. The deadline for the talks has been extended twice, most recently the deadline was put back another month to 30 September 2009.
India's second largest telecom player by sales Reliance Communications fell 2.94%. The company's chairman Anil Ambani at the annual general meeting held on Tuesday, 22 September 2009 said company hopes to achieve 100 million subscribers by March 2010 from the current 85 million subscribers.
Anil Ambani also said that the company will consider a qualified institutional placement at an appropriate time. He added that Reliance Communication (RCom)'s capital expenditure may decline significantly this year following the rollout of its GSM network in 2008/09. Meanwhile, the company on 22 September 2009, announced that its board approved a proposed listing of its telecom tower unit Reliance Infratel. The net issue will constitute 10% of the post-issue paid-up equity capital of the company.
Banking stocks fell on profit taking. Bank stocks have rallied recently after higher advance tax payment by some top banks in the second installment this fiscal.
India's largest private sector bank by net profit ICICI Bank fell 0.71% even as its ADR rose 2.22% on Tuesday. The bank has reportedly finalised sale of Point Of Sale (PoS) terminals to First Data Corporation for $ 80 million.
India's largest bank by net profit and branch network State Bank of India fell 1.38% on profit taking after recent surge. Chairman O.P. Bhatt on 8 September 2009 said the bank's earnings are likely to grow 30-35% in Q2 September 2009 over Q2 September 2008.
But, India's second largest private sector bank by net profit HDFC Bank rose 1.45% as its ADR rose 2.49% on Tuesday.
Shares of public sector banks rose on reports the World Bank is likely to provide $2 billion, or nearly Rs 10000 crore, to the government to recapitalise public sector banks. Union Bank of India, Bank of Baroda, Indian Overseas Bank, rose by between 0.12% to 7.43%.
Metal stocks fell on profit taking after recent strong gains. Tata Steel, Steel Authority of India, Jindal Saw, Hindalco Industries, Hindustan Zinc rose by between 0.19% to 2.39%.
But, India's largest copper maker by sales Sterlite Industries rose 1.09%. The company said on Monday that it would release Grupo Mexico from a potential legal liability of nearly $8 billion if the Indian miner can win control of bankrupt US copper miner Asarco LLC.
In a court document filed on Monday, Sterlite said that if a federal court approves its plan to acquire Asarco over rival bidder Grupo Mexico's offer, it would not hold Grupo Mexico liable for more than about $900 million of liability related to the 2003 transfer of a Peruvian mine. Sterlite, a unit of India-focused mining company Vedanta Resources, has been facing off with Mexican miner Grupo Mexico for acquiring control Asarco, which has been under bankruptcy protection since 2005.
India's largest thermal power generator by sales NTPC fell 0.38% . The company will reportedly sign an agreement to buy natural gas from Reliance Industries in two days to increase fuel supplies to plants other than those facing lawsuits.
Among other power stocks, Reliance Power, CESC, Torrent Power, Reliance Infrastructure, Tata Power Company fell by between 0.8% to 2.85%.
Auto stocks fell on profit taking after recent sharp gains. Auto stocks have rallied in the past few days on hopes of strong sales in the upcoming festive season. India's top small car maker by sales Maruti Suzuki fell 0.41%. India's largest tractor maker by sales Mahindra & Mahindra fell 2.61%.
As per reports, the government will release pay arrears to government employees under the second and final installment ahead of big festivals in October 2009. The payout would boost demand for cars and motorcycles.
India's largest truck maker by sales Tata Motors fell 1.09%. Commercial vehicle makers reportedly plan to raise prices in the range of 1-3% on pick up demand.
Car sales rose 26% to 120,669 units in August 2009 over August 2008 boosted by new launches and availability of cheaper loans, data released by the industry body Society of Indian Automobile Manufacturers on 8 September 2009, showed. Sales of trucks and buses rose 18.5% to 40,624 units and motorcycle sales rose 26% to 611,173 units.
FMCG pivotals fell on concerns over scanty rains so far this year. FMCG firms derive substantial revenue from the rural sector. Nestle India, Hindustan Unilever, United Spirits, ITC, Britannia Industries fell by between 0.09% to 2.38%
Cement stocks fell on profit taking. ACC, Ambuja Cements, Ultratech Cement fell by between 0.59% to 1.59%. A thrust on the infrastructure sector in the Union Budget 2009-2010 may keep cement demand strong. Cement makers recently cut prices by Rs 3 per 50 kilogram bag in Mumbai.
Construction shares fell on profit taking. Punj Lloyd, Valecha Engineering, Gammon India, IVRCL Infrastructure & Projects fell by between 2.58% to 5.03%. Higher government spending on infrastructure sector in the Union Budget 2009-2010 to provide a stimulus to the economy, may result in increase order flow for construction.
The government has set a target of spending $20 billion a year on road construction.
Jaiprakash Associates fell 6.34% after company sold treasury shares at an average price of Rs 238.50.
Sugar stocks fell after Union Cabinet late last week extended limits on stocks that can be held by traders of sugar until September 2010. The move is aimed at keeping a lid on prices of commodity. Shree Renuka Sugars, Dhampur Sugars, Bajaj Hindustan and Balrampur Chini fell by between 2.01% to 2.94%.
Suzlon Energy clocked highest volume of 6.82 crore shares on BSE. Cals Refineries (3.69 crore shares), Jaiprakash Associates (3.22 crore shares), Wire & Wireless (1.52 crore shares) and Ispat Industries (1.06 crore shares) were the other volume toppers in that order.
Jaiprakash Associates clocked highest turnover of Rs 756.18 crore on BSE. Suzlon Energy (Rs 646.01 crore), Reliance Industries (Rs 256.26 crore), Larsen & Toubro (Rs 127.87 crore) and DLF (Rs 120.62 crore) were the other turnover toppers in that order.
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