Daily News Roundup - Jan 8 2010

Reliance Industries announces 1:1 bonus issue and Rs13 per share as dividend. (ET)

Reliance Industries to invest US$8.8bn in developing KG-D6 field. (ET)

Government looks to sell 5% in NTPC. (ET)

HDFC expects 20-25% growth in loan disbursements in 2010. (BS)

Tata Steel has reported 19% increase in sales volumes in Q2 FY10. (ET)

Tata Steel to start importing coal from its Mozambique mines in 1.5 years. (BS)

BHEL is looking at Africa for setting up its first manufacturing facility abroad. (BS)

TCS to tweak currency strategy on Rupee swings. (ET)

Tata Motors is expected to produce around 40,000 Nanos this fiscal and increase it four-fold to over 170,000 units during FY11. (BL)

BHEL is set to begin the process of due diligence for picking up a majority stake in a Hungarian engineering company, Transelektro Ganz Rock Boiler and Power Equipment Company. (BL)

Essar Group and JSPL are competing to take over a coal mining company in Australia. (BS)

JSW Energy to set up 10 power plants with a capacity of 1,350MW in Rajasthan. (BS)

Bajaj Auto has launched the Kawasaki Ninja 250R. (BL)

Ranbaxy’s French units raided in EU drug probe. (BS)

Dr Reddy’s Laboratories has launched Strea C10 (pure topical Vitamin C 10%) and Strea A15 (pure topical Retinol 0.15%) in the domestic market. (BL)

SAIL will import about 11mn tons of coking coal this fiscal, lower than the imports in 2008-09. (BL)

NMDC has lined up a capital expenditure programme of Rs25bn to increase the capacity of its ore production from 30mn tons to 50mn tons by 2014. (BL)

JSPL has been asked to stop work on its Orissa steel unit by the Divisional Forest Officer. (BS)

Mahindra Satyam has tied up with the US-based Vision Solutions, to strengthen its high availability and disaster recovery offerings. (BL)

Ansal Properties and Infrastructure in talks with PE players to raise US$100mn. (ET)

PTC’s financial services arm raises Rs1bn through non convertible bonds. (ET)

Parsvanath Developers has decided to raise Rs1.68bn by allotting shares to QIPs. (ET)

The board of Uniphos Enterprises approves Rs1bn fund raising. (ET)

Era Infra bags 2 orders worth Rs1.47bn for construction related works. (FE)

Kingfisher has returned 19 leased aircrafts in the past 10 months. (FE)

Finance Minister to nudge government banks to keep hold interest rates. (ET)

GDP to grow over 6.3%, as per the planning commission. (ET)

Bank credit expanded by Rs1,089bn in Q2 FY10. (ET)

RBI has rejected a government proposal to auction ECBs to Indian companies. (FE)

Multiplex operators across the country have hiked ticket prices by 15–20%. (BL)

A bonus in sentiment!

Every man is free to rise as far as he's able or willing, but the degree to which he thinks determines the degree to which he'll rise.

After 12 years, RIL has decided to reward its shareholders with a generous 1:1 bonus. The recent treasury stock sale by RIL had raised some concerns on valuations. It’s a no-brainer that the stock will open higher. The key indices will naturally benefit from a firm RIL as the stock is an index heavyweight. According to Prayesh Jain, Research Analyst at India Infoline "the market would be positively surprised by the announcement of 1:1 bonus issue by Reliance Industries after 12 years". Last time around, the stock reacted by rising 3%. We expect the stock to open strong and sustain at higher levels in the near term. The move is to boost up investor confidence, which had slackened on back of pending litigations with RNRL and NTPC. The stock underperformed Sensex by 8% over the last three months and by about 5% YTD.

While the market will open higher, the overall mood will be determined by the trend in global markets. Most players are keenly awaiting the latest batch of quarterly numbers to take a broader call. Since valuations are not cheap, exercise some restraint. Even if earnings season turns out to be a strong one, spend some time weighing the risk-reward ratio. Expect volatility with a positive bias.

IT stocks will remain in the spotlight due to a 12% gain in the Indian Rupee since March. Infosys will come out with its Q2 earnings tomorrow. What the Infy management says on the IT business environment will be eagerly followed. The market will also look for an update on the company’s annual guidance.

NTPC is likely to attract attention as the Government might go for a stake sale in the public sector power utility through the follow-on offer route in January.

Inflation will be announced today and is expected to gain further ground as prices are set to firm up across segments. To make the matters worse, the high base effect of last year has started ebbing. A higher than expected spike in inflation could force the hands of the RBI. The central bank could at least signal a change in its stance later this month.

Meanwhile, bank credit growth remains sluggish at 13% year-on-year as against the RBI’s annual target of 20%.

FIIs turned net buyers in the cash segment on Wednesday at Rs6.34bn on a provisional basis. The local funds were also net buyers of Rs3.02bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs8.02bn. On Tuesday, FIIs were net buyers of Rs314mn in the cash segment. The net FII investments in Indian stocks this year have crossed $12.6bn.

The Bank of England (BOE) and the European Central Bank (ECB) will review their monetary policy later today.

US stocks closed nearly unchanged on Wednesday after a choppy session, with blue chips weaker and technology a bit higher as a two-day advance petered out amid a mixed dollar, lower oil prices and some jitters at the start of the quarterly financial reporting period.

The Dow Jones Industrial Average fell 6 points, or 0.1%, to 9,725.58. The S&P 500 index rose 3 points, or 0.3%, to 1,057.58 and the Nasdaq Composite index gained 7 points, or 0.7%, to 2,110.33.

Banks climbed on an analyst upgrade of Bank of America and Wells Fargo’s plan to boost credit-card rates. Goldman Sachs upgraded the biggest US banks to "attractive" from "neutral" on Oct. 5, saying that share prices don’t reflect prospects for earnings growth.

US stocks had risen on Monday and Tuesday, with the broad S&P 500 gaining just short of 3%, recovering most of what it had lost in the previous two weeks. But the rally ran into some resistance on Wednesday as the dollar turned mixed and investors looked to the start of the third-quarter financial reporting period.

Analysts expect third-quarter profits to have fallen around 24% versus a year ago, with the heaviest percentage losses expected in the materials, energy and industrials' sectors.

Dow component Alcoa kicked off the quarterly earnings season after the close, reporting quarterly earnings and revenue that fell from a year ago but surpassed analysts' estimates. While it was a positive omen, investors are likely going to remain on edge until the end of the month.

Alcoa shares had jumped before beginning the third-quarter earnings season.

Financials are expected to post the best results of any sector, as they had suffered heavily in the third quarter of 2008. The sector is expected to see earnings growth of 59%. The broad S&P 500 is expected to see a drop in profits for the ninth quarter in a row.

Any small selloff will be greeted with renewed buying interest. Also, as the end of the year draws nearer, hedge funds and portfolio managers will have to turn more cash into investments. That could give the market a year-end boost.

Since bottoming at a 12-year low on March 9, the S&P 500 has gained 56%, and the Dow has gained 49% as of Tuesday's close. After hitting a six-year low, the Nasdaq has gained nearly 68%.

Gold prices extended their record-breaking run for a second session as the dollar remained under pressure while crude oil prices rose ahead of the latest US weekly inventories data. COMEX gold for December delivery rose $4.70 to settle at $1,044.40 an ounce after ending the previous session at a record $1,039.70. The previous record close of $1,020.20 was set two weeks ago.

The dollar gained versus the euro and fell against the yen, reversing its recent slide against a basket of currencies.

US light crude oil for November delivery fell $1.31 to settle at $69.57 a barrel on the New York Mercantile Exchange.

Treasury prices rallied, lowering the yield on the 10-year note to 3.19% from 3.25% late on Tuesday.

European shares struggled to build on sharp gains made in the previous session. After shooting up 2.2% on Tuesday, the pan-European Dow Jones Stoxx 600 index closed 0.3% lower at 240.35. The UK's FTSE 100 index fell 0.6% to 5,108.90, while Germany's DAX index slipped 0.3% to 5,640.75 and the French CAC-40 index slipped 0.4% to 3,756.41.

After enjoying a classic turnaround on Tuesday, Indian markets yet again lost ground with the BSE Sensex closing below the 17,000 and the NSE Nifty ending below the 5,000 levels. As expected, markets started off on a promising note on Wednesday tracking overnight gains in the US and the Asian markets.

However, a sudden bout of selling in IT and the telecom stocks dragged the markets lower. Technically, an important aspect which comes to notice is that the NSE Nifty has closed below the 13DMA for the first time since September 3, 2009. However, unless the index closes above the 4960-70 levels long position would not be a problem.

On Wednesday, the BSE Sensex slipped 151 points at 16,806 after touching a high of 17,120 and a low of 16,764. The index opened at 17,069 against the previous close of 17,958. The NSE Nifty lost 41 points to shut shop at 4,985.

Post market hours on Wednesday, Reliance Industries announced issue of Bonus shares in the ratio of one equity share of Rs. 10/- each fully paid up for every one equity share of Rs. 10/- each of the Company.

In Asia, the Nikkei in Japan was up 1.1%, while Australia's S&P/ASX ended higher by 2.2% at 4,695. Shanghai SE Composite in China gained 1% and Hang Seng index in Hong Kong was up 2.1%.

In Europe, stocks were in the positive terrain. The FTSE in the UK was up 0.2%, The DAX in Germany was up 0.3% and the CAC 40 index in France was up 0.3%.

Coming back to India, among the BSE sectoral indices, the IT index was the top loser, shedding 2.6%, followed by the Teck index that was down 2% and the BSE Oil & gas index was down 2%.

Among the major gainers were, BSE Consumer Durable index gained 4.5%, BSE Metal index up 2.3% and BSE Pharma index gained 1.4%.

The BSE Mid-Cap index gained 1.5% and the BSE Small-Cap index was up 0.4%.

Among the 30-components of Sensex, 20 stocks ended in the red and 10 ended in the positive terrain. Among the major laggards were Wipro, Maruti, TCS, SBI and Infosys.

On the other hand, Sterlite, JP Associates, Hindalco, BHEL and Tata Steel were among the major gainers.

Outside the frontline indices, the big losers in the broader market were Mphasis, Rolta, HCL Tech, Sun TV and Godrej Industries. On the other hand, gainers included Piramal Healthcare, Yes Bank, Titan and Canara Bank.

Shares of Aban Offshore ended lower by 0.5% to Rs1610. The stock rose to hit an intra-day high of Rs1659 after media reports stated that the company is looking to raise Rs20-25bn through a QIP which is reportedly to open in the month of November.

Reports also stated that the promoters are willing to dilute 20-22% equity stake at Rs1900-1950 per share.

The stock opened at Rs1645 and made an intra-day low of Rs1594. Total traded volumes stood at 0.5mn shares.

Shares of ABG Shipyard fell by 3.5% to Rs212 after reports stated that the IT department has raided the company on possibility of tax evasions. The Income Tax dept began raiding ABG Shipyard in Mumbai and Surat.

The stock opened at Rs229 and made an intra-day high of Rs229 and a low of Rs201. Total traded volumes stood at 0.44mn shares.

Shares of Omnitech Solutions shot up by over 3% to Rs143 after media reports stated that the company is exploring various options for fund raising. Further, the Omnitech is also looking for acquiring a company in the US and UK.

The stock opened at Rs144 and made an intra-day high of Rs154 and a low of Rs140. Total traded volumes stood at 1.2mn shares.

Shares of KS Oils edged higher by 0.2% to Rs68 after the company announced that it has acquired an additional 53,000 acres of land for development of Palm Oil Plantations in Indonesia through its Wholly owned Subsidiary at Singapore K S Natural Resources Pte. Ltd.

The Funding will be through internal accruals and debt at subsidiary level. The total funds required for the new project would be around Rs3.8bn over the next three years.

Shares Raymond gained by 0.4% to Rs196 after the company plans to spend Rs1bn on 300 new retail stores along with its franchise partners.

The company plans to increase the number of outlets to 800 by March 2011 from 500 by tapping smaller towns and cities, Chairman Gautam Singhania was quoted as saying.

"Instead of people coming to cities to buy our products, we aim to get closer to our consumers," he said.

Shares of Jindal Saw erased early gains and ended up by only 2% at Rs715. The stock rose to an intra-day high of Rs733 after the company announced that the board of directors would meet on October 15, 2009 to consider stock split.

The stock opened at Rs709 and made an intra-day high of Rs734 and a low of Rs706. Total traded volumes stood at 0.4mn shares.

Shares of Zenotech Labs were locked at 20% upper circuit to Rs125.90 after Securities Appellate Tribunal (SAT) asked Daiichi to make Zenotech offer at Rs160 per share, media reports stated.

The open offer was delayed after the SAT requested Daiichi Sankyo to put the offer on hold because of a petition by one or more minority shareholders of Zenotech about the price of the offer. The initial Daiichi Sankyo offer was to buy each Zenotech shares for Rs113.62.

The purpose of Daiichi Sankyo's tender offer for Zenotech shares is mainly to meet the regulatory law which requires Daiichi Sankyo to hold an open offer for Zenotech shares after buying the controlling stake in Ranbaxy.

Market may recover on higher Asian stocks

The market may edge higher tracking gains in Asian stocks. US stocks closed higher on Thursday on better than expected weekly jobs data. Closer home, the food price inflation eased slightly in late December 2009, data released by the government during trading hours on Thursday, 7 January 2010, showed. The food price index rose 18.22% in the 12 months to 26 December 2009, lower than an annual rise of 19.83% in the previous week.

The Reserve Bank of India (RBI) has said interest rate policy cannot address inflation caused by supply problems, but has also said it is worried about a spillover to other prices. Senior government officials have said it is too early to raise interest rates. C. Rangarajan, the prime minister's economic adviser, said on Tuesday some liquidity tightening might be needed to moderate price expectations

Last week, RBI Deputy Governor Shyamala Gopinath said the focus of monetary policy was shifting to managing recovery and containing inflation from fostering growth after the global downturn. Some policymakers have said that food prices may drop in coming months and ease the pressure on the central bank to hike rates.

The December exports data should be "encouraging", Trade Minister Anand Sharma said on Thursday. India's exports rose an annual 18.2% in November 2009 to $13.2 billion, the first rise after 13 straight months of decline.

The Government may reportedly introduce a legislation in the budget session of Parliament to make necessary constitutional amendments and facilitate the launch of the Goods and Services Tax (GST) although the rollout of this comprehensive indirect tax reform from the scheduled date of 1 April 2010, seems unlikely.

Meanwhile, the government will reportedly allow companies to adjust the fringe benefit tax (FBT) paid by them against the advance tax due in the March 2010 quarter, reducing the hazard of claiming a refund and slightly improving profits at a time of rising costs.

Asian stocks rose on Friday after gains in US retail sales boosted confidence in the global economic recovery. The key benchmark indices in Hong Kong, Indonesia, Japan, Singapore and Taiwan rose by between 0.07% to 0.67%. But, the key benchmark indices in China and South Korea fell by between 0.35% to 0.85%.

South Korea's central bank on Friday kept its interest rate unchanged at a record-low 2% for an 11th month amid a growing conflict with a government opposed to early monetary tightening.

US stocks struggled on Thursday as the dollar rose and investors remained skittish ahead of the jobs report. The Dow Jones Industrial Average rose 33.18 points, or 0.3%, to 10,606.86. The S&P 500 index added 4.55 points, or 0.4%, to 1,141.69. The Nasdaq was down 1.04 points, or 0.1%, to 2,300.05.

In economic news, the labor department reported jobless claims last week rose by just 1,000 to 434,000, which is less than expected. Continuing claims came in at 4.80 million, lesser than expectations of 4.98 million.

Closer home, the key indices snapped four-day winning streak on profit booking in frontline stocks on Thursday, 7 January 2010. Weak global markets also dampened sentiment. The BSE 30-share Sensex fell 85.41 points or 0.48% to settle 17,615.72 on that day.

As per provisional figures on NSE, foreign funds bought shares worth Rs 92.21 crore and domestic funds sold shares worth Rs 127.41 crore on Thursday.

Market Review - Jan 7 2010

Market Review - Jan 7 2010

Futures and Options - Jan 7 2010

Futures and Options - Jan 7 2010

Post Market Commentary - Jan 7 2010

Indian equity ended the day on a weak note. The markets which belled the day on a flat note and immediately slipped into the negative terrain. Intense profit booking was seen in some of the frontline stocks of IT, Auto and FMCG stocks.

However, significant buying which was witnessed in Oil&Gas, Consumer Durables and Banking stocks provided support to the markets.

Stocks retreated in Asia, snapping four days of gains, while oil declined after China, the engine in the global recovery, curbed lending growth. The rate on Chinese three-month bills rose for the first time in 19 weeks. The MSCI Asia Pacific Index fell 0.3% to 123.68 at 5:20 p.m. in Tokyo.

European stocks fell from the highest levels in more than 15 months after China, the driver of the global recovery, took steps to curb lending growth. US index futures dropped.

The Sensex ended the day with a loss of 85.41 points, or 0.48% at 17,615.72 after touching a high of 17,733.34 and a low of 17,566.54. The broad-based NSE Nifty fell 18.70 points, or 0.35% at 5,263.10 after hitting a high of 5,302.55 and a low of 5,244.75.

BSE Midcap ended the day on a negative note down by 0.02%. On the other hand, BSE Smallcap ended on a positive note up by 0.67%.

Major gainers in the 30-share index were Hindalco Industries (2.40%), Reliance Industries (1.51%), Tata Steel (1.16%), Reliance Communications (0.96%), Bharti Airtel (0.64%), and ACC (0.61%).

On the other hand, Tata Motors (3.37%), Tata Consultancy Services (2.61%), Grasim Industries (2.53%), Hero Honda Motors (2.51%), Infosys Technologies (2.30%), and Wipro (2.25%) were the major losers in the Sensex.

Overall market breadth was positive. Out of the total 2,969 shares traded at BSE, 1,638 advanced, 1,237 declined while 94 remained unchanged.

Major gainers in the sectoral indices were BSE Oil & Gas which climbed 1.24%, Consumer Durables gained 1.11%, Metal gained 0.07%, Power rose 0.17%.

Among major losers in the sectoral indices - BSE IT fell 2.22%, Auto dropped 1.72%, TECk went down 1.48%, HC fell 0.95% and Realty dropped 0.63%.

``The trend remains up but the undercurrent is soft. The market is expected to remain range bnound with boundaries being 5,150 and 5,350,`` said Avinash Gupta, AVP Research Equity, Bonanza Portfolio while opining on the trends of the equity market for tomorrow.

Inflation:

Food price inflation witnessed a marginal decline for the week ended December 26 to stand at 18.22% as against 19.83% in the previous week due to lower prices of fruits & vegetables (6%), gram (3%) and tea (1%).

Inflation for primary articles stood at 14.39% (y-o-y) for the week ended Dec. 26, 2009 as compared to 15.49% (y-o-y) for the previous week.

Asian Equities Pare Latest Gains

Most of the indices end lower on concerns China may tighten monetary policy soon

Asian equities slipped as the fears over monetary tightening in China came to the fore to haunt the sentiments and made the early 2010 gains fizzle out. Negative cues from the US stock futures also played their role as most Asian equities dropped. Chinese shares lost heavily as the domestic central bank moved to tighten liquidity in the money markets, stocking fears interest rate increases could come sooner than expected.

Other regional markets also finished mostly lower after an uninspiring performance on Wall Street left investors unwilling to chase stocks higher after their recent gains.

Japan's Nikkei 225 Average fell 0.5% to 10681.66 after flirting with gains a few times during a choppy session. Hong Kong's Hang Seng Index shed 0.7%, Australia's S&P/ASX 200 lost 0.5%, South Korea's Kospi fell 1.3% and Taiwan's Taiex gave up 1.1%.

China's Shanghai Composite lost 1.9% to finish at 3192.78, extending losses after the People's Bank of China sold 60 billion yuan ($8.78 billion) worth of three-month bills at 1.3684%, increasing the yield on such bills for the first time since August, from 1.3280%. The Shenzhen Composite index also dropped 1.9%, to 1,179.99.

China's central bank said Wednesday it aimed to keep inflation in check in 2010 while maintaining its pro-growth monetary policy as the world's third-largest economy recovers from the financial crisis. In a statement outlining its tasks for this year, the People's Bank of China said it would adjust its policies "at appropriate times and by appropriate levels" based on economic and financial market changes in China and overseas. The central bank said it would seek to ensure "stable prices" and to "effectively manage inflation expectations" as well as keep the yuan exchange rate "basically stable", according to the statement posted on its website.

The Indian markets took a breather after strong gains in the past four trading sessions that sent the key benchmark indices to 22-month closing highs on Wednesday. The BSE 30-share Sensex was provisionally down 111.87 points or 0.63%.

US Stocks finished on opposite sides of the unchanged mark Wednesday, as traders largely shrugged off another mixed batch of economic data. The major averages saw another choppy outing, lingering near the fifteen-month highs posted at the end of Monday's strong rally.

On the economic front, the Federal Open Market Committee released the minutes for its December meeting, indicating some debate among members regarding inflation risk following the government's massive stimulus measures.

Meanwhile, private payroll processor ADP reported that private sector employment decreased by 84,000 in December, slightly better than the 90,000 decline expected by economists.

The Dow gained 1.66 points, or less than a tenth of a percent, to end at 10,573.68 and the S&P 500 rose by 0.62 points, or 0.1 percent, to close at 1,137.14, while the Nasdaq lost 7.62 points, or 0.3 percent, to finish at 2,301.09.

The US stock futures are down 33 points in screen trade. In the commodity market, benchmark crude for February delivery was down 69 cents to $82.49 a barrel in electronic trading

BSE Bulk Deals to Watch - Jan 7 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
7/1/2010 513149 Acrow India PRATIMA BAPI ROY B 3573 150.32
7/1/2010 513149 Acrow India SURESHCHANDRA RANCHHODLAL SHAH B 3501 142.14
7/1/2010 513149 Acrow India NEELABEN SURESHCHANDRA SHAH B 3500 147.35
7/1/2010 513149 Acrow India SURESHCHANDRA RANCHHODLAL SHAH S 3501 147.38
7/1/2010 513149 Acrow India NEELABEN SURESHCHANDRA SHAH S 3500 142.14
7/1/2010 531400 Almondz Glob LMR MARKETING PRIVATE LIMITED S 115000 49.32
7/1/2010 531519 Ankush Finstock RAJENDRA CHIMANLAL TRIVEDI S 60000 3.29
7/1/2010 531881 Arvind Chem BHAVESH SHANTILAL TRIVEDI B 119500 24.26
7/1/2010 531881 Arvind Chem OMPARKASH GUPTA B 101097 23.86
7/1/2010 531881 Arvind Chem BHAVESH SHANTILAL TRIVEDI S 119500 23.74
7/1/2010 531881 Arvind Chem OMPARKASH GUPTA S 102096 23.86
7/1/2010 503940 Asian Elect SHAH INVESTMENTS FINANCIAL DEV & CON PRIVATE LIMIT S 220000 41.77
7/1/2010 505506 Axon Infotech JALAN FINVEST PVT LTD B 4370 19.91
7/1/2010 531591 Bampsl Sec KAUSHALYA GARG B 400000 0.71
7/1/2010 531337 Channel Guide Naman Securities & Finance Pvt. Ltd. B 118146 22.53
7/1/2010 531337 Channel Guide JMP SECURITIES PVT LTD B 162653 21.83
7/1/2010 531337 Channel Guide PRITESH PRAVINCHANDRA VORA B 40000 23.05
7/1/2010 531337 Channel Guide VICKY RAJESHBHAI JHAVERI B 30000 22.09
7/1/2010 531337 Channel Guide RAJESH MAMANIA B 50000 21.80
7/1/2010 531337 Channel Guide JHAVERI TRADING & INVESTMART PVT LTD B 55000 22.56
7/1/2010 531337 Channel Guide JHAVERI TRADING AND B 105000 22.21
7/1/2010 531337 Channel Guide CHIMANLAL MANEKLAL SECURITIES PVT.LTD B 50006 22.25
7/1/2010 531337 Channel Guide AMIT MANILAL GALA B 42510 22.61
7/1/2010 531337 Channel Guide MECHNO SALES AGENCIES (P) LTD. B 50000 22.10
7/1/2010 531337 Channel Guide CHARMI SANDEEP KAMDAR B 50000 21.80
7/1/2010 531337 Channel Guide ANGEL INFIN PRIVATE LIMITED B 481984 22.31
7/1/2010 531337 Channel Guide NARESH CHAND JAIN B 68834 22.22
7/1/2010 531337 Channel Guide CHETAN DOGRA S 36500 22.43
7/1/2010 531337 Channel Guide AMIT MANILAL GALA S 42510 22.66
7/1/2010 531337 Channel Guide MANOJ HIRACHAND MOTTA S 38000 22.17
7/1/2010 531337 Channel Guide PREMLATA RAMESH SARAOGI S 80349 22.10
7/1/2010 531337 Channel Guide HARISH TARSEM MITTAL S 76973 21.82
7/1/2010 531337 Channel Guide CHETAN DOGRA HUF S 47900 23.02
7/1/2010 531337 Channel Guide HARISH TARSEM MITTAL S 47500 21.80
7/1/2010 531337 Channel Guide MECHNO SALES AGENCIES (P) LTD. S 50000 22.12
7/1/2010 531337 Channel Guide CHARMI SANDEEP KAMDAR S 50000 22.49
7/1/2010 531337 Channel Guide ANGEL INFIN PRIVATE LIMITED S 476188 22.33
7/1/2010 531337 Channel Guide SAMIR HARINDRA PATEL S 50000 22.28
7/1/2010 531337 Channel Guide NARESH CHAND JAIN S 62834 22.03
7/1/2010 531337 Channel Guide Naman Securities & Finance Pvt. Ltd. S 90586 22.28
7/1/2010 531337 Channel Guide JMP SECURITIES PVT LTD S 162653 22.43
7/1/2010 531337 Channel Guide JIGAR DIPAKKUMAR SHAH S 40000 22.29
7/1/2010 531337 Channel Guide PRITESH PRAVINCHANDRA VORA S 40000 22.89
7/1/2010 531337 Channel Guide CHETAN DOGRA S 59750 22.41
7/1/2010 531337 Channel Guide CHIMANLAL MANEKLAL SECURITIES PVT.LTD S 50506 22.12
7/1/2010 512093 Cranes Soft TRANSGLOBAL SECURITIES LTD. B 1116181 30.70
7/1/2010 512093 Cranes Soft TRANSGLOBAL SECURITIES LTD. S 1118181 30.70
7/1/2010 517973 DMC Intl J A FINANCIAL AND MANAGEMENT CONSULTANTS PVT LTD B 63982 28.13
7/1/2010 517973 DMC Intl ATUL MITTAL B 94600 28.22
7/1/2010 517973 DMC Intl CENTENARY SOFTWARE PVT LTD B 73761 28.85
7/1/2010 517973 DMC Intl CENTENARY SOFTWARE PVT LTD S 62801 28.25
7/1/2010 507528 Eastern Sugar AMREX MARKETING PVT. LTD. S 75000 12.15
7/1/2010 530337 Exelon Infra KAMALA KANTA GUPTA B 96000 54.42
7/1/2010 530337 Exelon Infra KAMALA KANTA GUPTA B 46000 54.38
7/1/2010 530337 Exelon Infra I K PROJECTS PRIVATE LIMITED S 50000 54.42
7/1/2010 530337 Exelon Infra GANESH KUMAR DHANUKA S 33519 54.37
7/1/2010 511676 GIC Housing CALEDONIA INVESTMENTS PLC S 1243697 92.85
7/1/2010 532857 Glory Polyfilms JYOTI PORTFOLIO LIMITED S 95000 28.29
7/1/2010 532439 Goldstone Infra RAJASTHAN GLOBAL SEC LTD S 185000 33.16
7/1/2010 500174 Gujarat Lease GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD S 210300 6.02
7/1/2010 511682 IFL Promoters VEENA GUPTA B 61600 10.12
7/1/2010 511682 IFL Promoters CENTENARY SOFTWARE PVT LTD B 58341 10.12
7/1/2010 511682 IFL Promoters DMC INTERNATIONAL LIMITED B 60000 10.12
7/1/2010 511682 IFL Promoters VEENA GUPTA S 60600 10.12
7/1/2010 511682 IFL Promoters CENTENARY SOFTWARE PVT LTD S 66268 10.12
7/1/2010 511682 IFL Promoters DMC INTERNATIONAL LTD S 18025 10.12
7/1/2010 511682 IFL Promoters SHARK COMMUNICATION PVT LIMITED S 27000 10.12
7/1/2010 531447 Insutech India LAKHOTIYA SANTOSH B 40000 5.79
7/1/2010 531447 Insutech India SUSHMA LAKHOTIYA B 40000 5.78
7/1/2010 531447 Insutech India PUSHPADEVI LAKHOTIYA B 40000 5.78
7/1/2010 531447 Insutech India MANJU LAKHOTIYA B 40000 5.80
7/1/2010 531447 Insutech India KAUSHALYABAI LAKHOTIA B 40000 5.79
7/1/2010 531447 Insutech India ANITHA LAKHOTIYA B 40000 5.80
7/1/2010 531447 Insutech India ADITYA DHARMENDRA GOYAL B 102863 5.80
7/1/2010 531447 Insutech India LATA DHARMENDRA GOYAL B 200000 5.79
7/1/2010 531447 Insutech India ANJALI ADITYA GOYAL B 200000 5.79
7/1/2010 531447 Insutech India YOGEETA KASHIRAM KADAM S 142200 5.78
7/1/2010 531447 Insutech India CHIRAG SECURITIES S 163280 5.79
7/1/2010 531447 Insutech India VRPFINANCIALSERVICES PVTLTD S 187873 5.80
7/1/2010 531447 Insutech India HANDFUL INVESTRADE PVT LTD S 300000 5.79
7/1/2010 523467 Jai Mata Glass GROWMORE PROPERTIES PVT LTD S 119336 2.64
7/1/2010 532283 Kaashyap Tech HITEN MEHTA B S 4865174 0.81
7/1/2010 532283 Kaashyap Tech PRIYESH ARVIND BHATT S 5000000 0.82
7/1/2010 532283 Kaashyap Tech TAIB SEC MAURITIUS LTD S 10000000 0.83
7/1/2010 530255 KAY Power KAUSHALYA GARG B 60000 13.32
7/1/2010 530255 KAY Power SUNDER DASS AGARWAL B 102229 13.44
7/1/2010 530255 KAY Power KAUSHALYA GARG S 177546 13.45
7/1/2010 524000 Magma Fin NAMOKAR COMMERCIAL PVT LTD S 93361 165.06
7/1/2010 531515 Mahan Inds YOGENDRA KUMAR GUPTA S 150000 32.68
7/1/2010 516007 Mangalam Timb TRANSGLOBAL SECURITIES LTD. B 249942 42.57
7/1/2010 516007 Mangalam Timb TRANSGLOBAL SECURITIES LTD. S 249942 42.68
7/1/2010 531834 Natura Hue Chem CHETAN DOGRA B 35000 35.57
7/1/2010 531834 Natura Hue Chem CHETAN DOGRA B 38745 34.72
7/1/2010 531834 Natura Hue Chem CHETAN DOGRA S 35436 34.34
7/1/2010 511551 Networth Stock NETESOFT INDIA LTD B 375000 53.66
7/1/2010 511551 Networth Stock INDIA TECHNOLOGY INVESTMENTS PVT. LTD B 100000 50.68
7/1/2010 511551 Networth Stock ALBULA INVESTMENT FUND LTD S 550000 54.45
7/1/2010 511551 Networth Stock GANESH KUMAR SINGHANIA S 100000 50.50
7/1/2010 590090 Octant Inter INDIUM HOME CARE PRIVATE LTD S 396763 12.48
7/1/2010 531496 Omkar Overseas RONIT SATYANARAIN AGARWAL S 25000 50.25
7/1/2010 524628 Parker Agro KAIZEN STOKTRADE PRIVATE LIMITED B 68600 17.44
7/1/2010 524628 Parker Agro JYOTHI CHOKKARAPU S 83500 17.33
7/1/2010 511702 Parsharti Inv KRUPA SANJAY SONI B 33311 38.03
7/1/2010 511702 Parsharti Inv PALAK AGENCY PVT LTD B 52140 37.97
7/1/2010 511702 Parsharti Inv KRUPA SANJAY SONI S 26712 38.06
7/1/2010 511702 Parsharti Inv BHAVESH SHANTILAL TRIVEDI S 39673 37.25
7/1/2010 511702 Parsharti Inv SANJAY JETHALAL SONI S 25000 37.15
7/1/2010 532803 Pochiraju Inds BP FINTRADE PRIVATE LIMITED B 121640 23.06
7/1/2010 532803 Pochiraju Inds BP FINTRADE PRIVATE LIMITED S 121633 23.10
7/1/2010 531855 Prabhav Inds SHREENATHJI FINSTOCK PVT LTD S 84000 51.17
7/1/2010 509839 Punjab Wool NEERAJ KUMAR AGGAWRAL S 100000 5.31
7/1/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 117242 34.31
7/1/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA S 51475 34.03
7/1/2010 502587 Rama Pulp PRABHA FARMS PVT LTD S 60000 34.75
7/1/2010 533083 RISHABHDEV MAHESH MEETAL B 193614 17.70
7/1/2010 533083 RISHABHDEV MAHESH MEETAL S 193614 17.26
7/1/2010 531898 Sanguine Media MAHESHKUMAR KAPILDEV SINGH S 74000 3.52
7/1/2010 532663 Sasken Comm NORTEL NETWORKS MAURITIUS LTD S 235000 186.82
7/1/2010 505590 Scenario Media SANTOSH DEVI AGGARWAL B 4000 153.95
7/1/2010 505590 Scenario Media PREMLAL ROY S 6850 153.95
7/1/2010 526981 Shri Bajrang ANANT PRAKASH KABRA B 45000 33.37
7/1/2010 526479 SKY Inds V R M SHARE BROKING PRIVATE LIMITED S 45000 84.98
7/1/2010 590072 Sundaram Brake BINIT RAMESHCHANDRA SHAH B 20000 214.91
7/1/2010 590072 Sundaram Brake BP FINTRADE PRIVATE LIMITED B 15092 228.08
7/1/2010 524156 TCM MURALIDHARAN TP B 30000 23.10
7/1/2010 531917 Twinstar Soft SANDEEP AGARWAL B 108000 4.17
7/1/2010 500464 UCAL Fuel MATRIX EQUITRADE PVT. LTD. B 145960 97.43
7/1/2010 500464 UCAL Fuel OPG SECURITIES P LTD B 311926 98.57
7/1/2010 500464 UCAL Fuel Naman Securities & Finance Pvt. Ltd. B 117166 101.78
7/1/2010 500464 UCAL Fuel TRANSGLOBAL SECURITIES LTD. B 114345 98.12
7/1/2010 500464 UCAL Fuel TRANSGLOBAL SECURITIES LTD. S 112680 98.92
7/1/2010 500464 UCAL Fuel MATRIX EQUITRADE PVT. LTD. S 145960 97.84
7/1/2010 500464 UCAL Fuel OPG SECURITIES P LTD S 308976 98.70
7/1/2010 526987 Urja Glob UMA GOEL S 18283 62.15
7/1/2010 531874 Venus Ventures AYODHYAPATI INVESTMENT PVT LTD S 41474 12.16
7/1/2010 532360 Vintage Cards DHARMENDRA CHAMPAKLAL SHAH S 3173 20.00
7/1/2010 511147 Wall Street Fin RAJASTHAN GLOBAL SEC LTD B 58350 63.16
7/1/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR B 29288 378.58
7/1/2010 531249 Well Pack Papers PANDYA YAMINIBEN M B 24985 378.60
7/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR B 41861 380.79
7/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR S 35598 380.62
7/1/2010 514470 Winsome Tex PRIYANKA PATWARI B 1000000 4.43
7/1/2010 514470 Winsome Tex BHAGWATIDEVI PATWARI B 1000000 4.43
7/1/2010 514470 Winsome Tex BABITA AGRAWAL B 500000 4.43
7/1/2010 514470 Winsome Tex KAILASHPATI VINIMAY PRIVATE LIMITED S 2500000 4.43
* B - Buy, S - Sell

NSE Bulk Deals to Watch - Jan 7 2010

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
07-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,BLUE PEACOCK SECURITIES PVT LT,BUY,17503,240.05,-
07-JAN-2010,CRANESSOFT,Cranes Software Internati,TRANSGLOBAL SECURITIES LTD.,BUY,1351634,30.69,-
07-JAN-2010,GLORY,Glory Polyfilms Limited,ANIL KUMAR GOEL,BUY,100000,26.38,-
07-JAN-2010,GOLDTECH,Goldstone Tech Ltd.,HEMANT MADHUSUDAN SHETH,BUY,110136,36.35,-
07-JAN-2010,GOLDTECH,Goldstone Tech Ltd.,SETU SECURITIES LTD,BUY,104156,36.48,-
07-JAN-2010,GOLDTECH,Goldstone Tech Ltd.,VIJIT SHARES AND COMMODITIES PVT.LTD.,BUY,173660,36.50,-
07-JAN-2010,HILTON,Hilton Metal Forging Limi,BHAVIN Y MEHTA,BUY,97692,32.07,-
07-JAN-2010,HILTON,Hilton Metal Forging Limi,VIJIT ASSET MANAGEMENT PRIVATE LIMITED,BUY,63220,32.53,-
07-JAN-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,BUY,9777409,22.97,-
07-JAN-2010,JKTYRE,JK Tyre & Industries Ltd,BLACKSTONE ASIA ADVISORS L L C A/C THE INDIA FUND INC,BUY,227460,157.45,-
07-JAN-2010,KALINDEE,Kalindee Rail Nirman (Eng,MBL & COMPANY LTD.,BUY,70168,218.86,-
07-JAN-2010,MANGTIMBER,Mangalam Timber Pro Ltd,BLUE PEACOCK SECURITIES PVT LT,BUY,153393,43.07,-
07-JAN-2010,MANGTIMBER,Mangalam Timber Pro Ltd,OM INVESTMENTS,BUY,231425,42.12,-
07-JAN-2010,MANGTIMBER,Mangalam Timber Pro Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,250445,42.64,-
07-JAN-2010,MICROTECH,Micro Technologies (India,NAVANTUC TREXIM PVT LTD,BUY,72000,208.60,-
07-JAN-2010,OMNITECH,Omnitech Infosolutions Li,WALL STREET CAPITAL MARKETS PVT LTD,BUY,75000,170.53,-
07-JAN-2010,RADAAN,Radaan Mediaworks (I) Ltd,VIJIT SHARES AND COMMODITIES PVT.LTD.,BUY,277887,5.66,-
07-JAN-2010,SAKHTISUG,Sakthi Sugars Ltd.,J P M S L A/c Copthall Mauritius Investment Ltd,BUY,1335795,106.00,-
07-JAN-2010,SELMCL,SEL Manufacturing Company,NIKON FINLEASE PVT. LTD,BUY,89724,86.73,-
07-JAN-2010,SUNDRMBRAK,Sundaram Brake Lin Ltd.,MODEX INTERNATIONAL SECURITIES LTD.,BUY,23771,213.81,-
07-JAN-2010,UCALFUEL,Ucal Fuel Systems Ltd,JMP SECURITIES PVT LTD,BUY,180437,102.83,-
07-JAN-2010,UCALFUEL,Ucal Fuel Systems Ltd,OM INVESTMENTS,BUY,131288,98.30,-
07-JAN-2010,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,1240958,20.15,-
07-JAN-2010,ZENSARTECH,Zensar Technologies -Depo,RPG CELLULAR INVESTMENTS & HOL.P.LTD,BUY,430000,343.67,-
07-JAN-2010,ASIANELEC,Asian Electronics Ltd,SHAH INVESTMENTS FINANCIAL DEV & CON PRIVATE LIMIT,SELL,230000,41.83,-
07-JAN-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,BLUE PEACOCK SECURITIES PVT LT,SELL,17503,245.15,-
07-JAN-2010,BLUEBIRD,Blue Bird (India) Limited,PAM PHARMACEUTICAL& ALLIED MACHINERYCO PVTLTD,SELL,188000,29.71,-
07-JAN-2010,BRANDHOUSE,Brandhouse Retails Limite,GKK CAPITAL MARKETS PRIVATE LI,SELL,301000,29.10,-
07-JAN-2010,CRANESSOFT,Cranes Software Internati,TRANSGLOBAL SECURITIES LTD.,SELL,1351634,30.72,-
07-JAN-2010,EASUNREYRL,Easun Reyrolle Relays,CREDIT SUISSE (SINGAPORE) LIMITED A/C CREDIT SUISSE (SINGAP,SELL,198392,108.13,-
07-JAN-2010,GICHSGFIN,Gic Housing Finance Ltd,CALEDONIA INVESTMENTS PLC,SELL,1307682,92.82,-
07-JAN-2010,GLFL,Gujarat Lease Fin Ltd,GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD,SELL,206833,6.02,-
07-JAN-2010,GLORY,Glory Polyfilms Limited,ANIL KUMAR GOEL,SELL,100000,28.73,-
07-JAN-2010,GLORY,Glory Polyfilms Limited,KSHITIJ-PORTFOLIO-PVT.-LTD.,SELL,197001,27.38,-
07-JAN-2010,GOLDTECH,Goldstone Tech Ltd.,SETU SECURITIES LTD,SELL,89150,36.44,-
07-JAN-2010,GOLDTECH,Goldstone Tech Ltd.,VIJIT SHARES AND COMMODITIES PVT.LTD.,SELL,155660,36.48,-
07-JAN-2010,GPIL,Godawari Power And Ispat,INDIA INFRA EQUITY FUND,SELL,150923,235.24,-
07-JAN-2010,HILTON,Hilton Metal Forging Limi,BHAVIN Y MEHTA,SELL,97692,32.55,-
07-JAN-2010,HILTON,Hilton Metal Forging Limi,VIJIT ASSET MANAGEMENT PRIVATE LIMITED,SELL,81220,31.12,-
07-JAN-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,9724389,22.95,-
07-JAN-2010,JKTYRE,JK Tyre & Industries Ltd,BLACKSTONE ASIA ADVISORS L L C A/C THE INDIA FUND INC,SELL,1,157.00,-
07-JAN-2010,KALINDEE,Kalindee Rail Nirman (Eng,MBL & COMPANY LTD.,SELL,70168,219.06,-
07-JAN-2010,KINETICMOT,Kinetic Motor Company Ltd,KINETIC ENGINEERING LTD,SELL,115000,23.52,-
07-JAN-2010,MANGTIMBER,Mangalam Timber Pro Ltd,BLUE PEACOCK SECURITIES PVT LT,SELL,120929,42.24,-
07-JAN-2010,MANGTIMBER,Mangalam Timber Pro Ltd,OM INVESTMENTS,SELL,231425,42.19,-
07-JAN-2010,MANGTIMBER,Mangalam Timber Pro Ltd,RAHUL DOSHI,SELL,100000,41.50,-
07-JAN-2010,MANGTIMBER,Mangalam Timber Pro Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,250445,42.61,-
07-JAN-2010,RADAAN,Radaan Mediaworks (I) Ltd,VIJIT SHARES AND COMMODITIES PVT.LTD.,SELL,268887,5.56,-
07-JAN-2010,SAKHTISUG,Sakthi Sugars Ltd.,JPMORGAN MAURITIUS HOLDINGS LIMITED,SELL,1335795,106.00,-
07-JAN-2010,SAKHTISUG,Sakthi Sugars Ltd.,MORGAN STANLEY MAURITIUS COMPANY LTD,SELL,440720,107.06,-
07-JAN-2010,SASKEN,Sasken Commu Techno Ltd,NORTEL NETWORKS MAURITIUS LTD,SELL,365000,187.06,-
07-JAN-2010,SELMCL,SEL Manufacturing Company,NIKON FINLEASE PVT. LTD,SELL,91824,86.77,-
07-JAN-2010,SIMBHSUGAR,Simbhaoli Sugars Limited,MATTERHORN VENTURES,SELL,137421,87.85,-
07-JAN-2010,SUNDRMBRAK,Sundaram Brake Lin Ltd.,MODEX INTERNATIONAL SECURITIES LTD.,SELL,23771,211.67,-
07-JAN-2010,SUNILHITEC,SUNIL HITECH ENGR. LTD,INDIA INFRA EQUITY FUND,SELL,85000,240.25,-
07-JAN-2010,UCALFUEL,Ucal Fuel Systems Ltd,OM INVESTMENTS,SELL,131302,98.40,-
07-JAN-2010,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,1222066,20.16,-
07-JAN-2010,ZENSARTECH,Zensar Technologies -Depo,PEDRIANO INVESTMENTS LTD,SELL,430000,343.67,-

Market takes a breather

Today's major news

Reliance Industries to drill six new wells in KG-D6 block in 2010; the stock rises 1.51%.

Thermax bags order worth Rs240 crore; the stock closes 0.52% lower.

Four Soft wins contract from Mondial Logistics, the stock jumps 4.97%.

Subhash Projects bags two orders worth Rs62 crore; the stock surged 3.94%.

IRB Infrastructure bags order worth Rs800 crore, the stock ends the day 1.53% higher.

Click here for more stories

Events Update

Food Inflation for the week ended December 26, 2009 softened to 18.22% against 19.83% in the previous week.

Post-market summary

Global signals

European indices traded lower in morning trades, as banking stocks fell ahead of Bank of England’s decision on interest rates. At the time of writing this report FTSE 100 was trading 0.32% lower.

All the major Asian indices except Shanghai Composite that rose marginally by 0.45% ended lower. SGX Nifty was down 32 points.

US stock futures opened marginally lower, as investors look forward to the Labor Department’s release of first-time claims numbers for jobless benefits for the week ended January 02, 2010.

Indian indices

Domestic markets declined for the first time in the year 2010 owing to weak overseas markets and selling in information technology stocks. The Sensex that opened flat, touched the day’s high of 17,733 and soon turned negative for the day’s low of 17566. At closing bell, Sensex closed at 17616, 85 points lower. Nifty closed 19 points lower at 5263.

Market sentiment

The market breadth, the number of advancing shares to declining shares, was negative. Of the total 2,969 stocks traded on the BSE, 1,638 stocks declined, whereas 1,237 stocks advanced. Ninety four stocks closed unchanged.

Sectoral & stock screening

Oil & Gas stocks did well for the day with the index (BSE Oil & Gas) up by 1.24%. The other two sectors that were up for the day were consumer durable and metal. Rest of the 10 sectors were down, with the information technology sector down by 2.22%--the most for any sector--followed by BSE Auto that fell 1.72%.

On stocks’ front, GMDC surged the most by 10.22% followed by Hindustan Copper that rose 10.00% and Aban Offshore that jumped 7.45%. Among losers, Sintex Industries slid the most by 6.10% followed by Adani Enterprises that fell 4.20%.

Viewing volumes

IFCI, the industrial finance company, saw highest trading with over 1.02 crore shares changing hands on the BSE to be followed by Essar Oil (0.86 crore shares), Ispat Industries (0.68 crore shares), wind turbine maker Suzlon Energy (0.62 crore shares) and India’s second biggest realty company, Unitech (0.54 crore shares).

Back with a bang!

A year ago, the scene on the Dalal Street was strikingly contrary. Where the start of 2009 was quite grim with all the signals on the domestic and global front staying negative, the year 2010 started on a positive note with the BSE Sensex trading at its 52-week high. Whereas in 2009 the prime concern was economic recovery and that happened mainly because of the concerted efforts of the major central banks that infused trillions of dollars in their respective economies, year 2010 will be more of sustaining the recovery that we have witnessed over the last few quarters. With favourable conditions for the markets and the economy turning around (reversing of the interest rate cycle, rising inflation, withdrawal of stimulus etc), all depends on how good are the financials posted by the India Inc. And this will decide the fate of investors in 2010.

In 2009, the BSE Sensex index rose by 80% and the NSE index, Nifty, surged by 75%—the best yearly performance since 1999. The BSE small cap index (BSE SML CAP) rose by 126% beating the 30-stocks benchmark index (BSE Sensex) by huge margins. The economic recovery helped commodity stocks shine the most, with the BSE Metal Index rising by 233%—the highest among the 13 sector indices on the BSE. Pump priming (fiscal stimulus by the government) helped automobile sales and the BSE Auto Index surged by 201%—the second highest among sector indices. The IT Index jumped by 131%, Capital Goods Index rose by 102%. The savior of 2008, the FMCG Index, was the worst performer in 2009 surging the least with 41% yearly appreciation.

Among index stocks, Tata Motors surged by 395%, followed by Jindal Steel and Power that was up by 368%, Mahindra & Mahindra that rose 287% and Sterlite Industries that advanced 229%. Information technology stocks like HCL Technologies and Tata Consultancy Services up by 222% and 210% respectively. The index losers include telecom players like Reliance Communications that was down 24% and Bharti Airtel that slumped 9%. The mid cap gainers include Aurobindo Pharma (up 444%), Mcleod Russel (up 439%), Bhushan Steel (up 363%), HOEC (up 352%), Havells (up 328%), and Shree Cement (up 316%). The non-index gainers include Oracle Financial Services Software (up 400%), Sesa Goa (up 380%), Mphasis (up 360%), Torrent Power (up 320%) and Tech Mahindra (up 300%). Such surge was possible on rise in liquidity levels post March 2009. As per Times of India report, the foreign institutional investors (FII) inflow to Indian equity markets in 2009 stood at Rs80,500 crore—the highest ever in a year and comes a year after they pulled out over Rs50,000 crore. FII inflow so far this year has broken the previous high of Rs71,486 crore parked by foreign fund houses in domestic equities in 2007.

The Sensex made a brisk turnaround from March wherein it surged by over 120% after making a low of 8047. At that point, the index traded at a nominal price/earnings (P/E) and price/book value (P/BV) of 12.68x and 2.47x respectively, while currently it is trading at 17701 with its P/E and P/BV at 22.63x and 4.25x respectively. Thus just like 2009, year 2010 may turn to be a very difficult for investors. The stock pick in 2009 was quite easy, as lower valuations across the board presented the best investment opportunities wherever one laid his hand.

Currently, the domestic indices trade higher to its mean P/E of 17x its earnings. Thus in 2010, stock investing may come with a pinch of salt.

One has to be very selective in considering the right and fundamentally good stocks that are part of the right theme and also are available at attractive valuations. The FII fund flows will also decide the direction of markets in 2010.

Market snaps four-day rally; RIL holds firm

The key indices snapped four-day winning streak on profit booking in frontline stocks. Weak global markets also dampened sentiment. Auto, IT and realty stocks led the fall. But Index heavyweight Reliance Industries held firm. Consumer durable stocks rose. The BSE 30-share Sensex fell 85.41 points or 0.48%, up close to 49.18 points from the day's low and off close to 117.62 points from the day's high.

The market was volatile. The market drifted lower in early trade as investors cashed in on some of the recent strong gains in share prices. The market recovered from lower level in morning trade. However, the intraday recovery proved short-lived. The market extended losses in early afternoon trade. A bout of volatility was witnessed in afternoon trade as the Sensex cut losses soon after hitting a fresh intraday low. The market weakened again with the Sensex hitting a fresh intraday low in mid-afternoon trade. After a strong rebound, the market lost ground once again in late trade

India VIX, a volatility index based on the S&P CNX Nifty index option prices, rose 1.72% to 22.50. India VIX is a measure of the market's expectation of volatility over the next 30 calendar days

The market lost ground today after a recent strong showing. The BSE Sensex had jumped 357.31 points or 2.06% to a 22-month closing high of 17,701.13 on Wednesday, 6 January 2010 from a recent low of 17,343.82 on 30 December 2009.

The labour market in the United States is improving and the economy is close to the point when the unemployment rate will start to fall, a top US Federal Reserve official said on Thursday. James Bullard, president of the St. Louis Federal Reserve Bank, also said that US housing prices were stabilising, and that housing starts were also likely to steady and cease to be a drag on growth. Bullard, who votes on the US central bank's policy-setting Federal Open Market Committee (FOMC) this year, was speaking to an audience of university students in Shanghai.

Closer home, the finance ministry is reportedly in talks with other ministries for selling stakes in around 60 state-run firms in coming years, including miner Hindustan Copper. In November 2009, the Indian cabinet approved a proposal to sell at least 10% government holding in state-run firms and use the proceeds for social schemes until March 2012, to cut its fiscal deficit.

The food price index rose 18.22% in the year to 26 December 2009. While fuel price index was up 4.85 %, the primary articles price index jumped 14.39 % in the year to 26 December 2009, data released by the government today showed.

Commerce and industry minister Anand Sharma has reportedly urged against an immediate rollback of last year's stimulus measures, wading into a debate on the timing of the stimulus exit that has pitted ministries, policymakers and industry on different sides. The finance ministry, trying to manage the highest fiscal deficit in 16 years and galloping food price inflation, is keen to do away with the stimulus measures on the grounds that these have helped shepherd India's economy safely out of the worst global economic crisis since the Great Depression.

Finance secretary Ashok Chawla, on Wednesday said continuing stimulus measures wasn't good for the economy, arguing that 'too much of stimulus can be injurious to health' and clearly hinting that a rollback of the stimulus measures may be on the cards. However, Mr Sharma urged caution. Mr Sharma said while exports were on the recovery path, a 'full and sustained' recovery would happen only when demand picks up across the US, Europe and Japan.

The Indian industry on Tuesday urged the government to continue with the fiscal stimulus at least for six months, as withdrawing them could choke faster recovery of the economy.

The government has reportedly decided to come to the aid of select export sectors that are yet to recover from the global meltdown by offering new incentives and expanding the scope of existing packages. Exports broke a 13-month fall in November 2009, growing 18% to touch $ 13.2 billion, but a commerce department study found that sectors such as engineering, handicraft, textile , pharmaceuticals and leather are still under the weather.

Meanwhile, business activity among Indian services companies expanded at its fastest pace in 15 months in December 2009 and helped create more jobs, but the outlook for 2010 is wary, a survey released on Wednesday showed. The HSBC Markit Business Activity Index, based on a survey of 400 firms, rose to 57.41 in December, its highest since September 2008, after slowing to 55.20 in November. The index has been above 50, separates expansion from contraction

Data last month showed that corporate advance tax payments for the October-December 2009 quarter shot up sharply, suggesting a higher profit growth in corporate sector in the third quarter (October-December) of the current fiscal. Corporate advance tax payments for the quarter were up 44% to Rs 48,300 crore against a 3.7% decline in April-June quarter and a 14.7% increase in July-September quarter. The company-wise break-up of advance tax collection suggests a broad-based recovery with automobiles, cement, metals and consumer goods, doing well.

In a move which could infuse more liquidity in the markets and make it more dynamic, the Securities and Exchange Board of India (Sebi) on Wednesday extended the tenure of contracts in securities lending and borrowing (SLB) to 12 months from one month. At the beginning, the tenure was of only seven days, which was later increased to 30 days.

European shares fell back from a closing 15-month high on Thursday, with banks taking most points off the index, and ahead of the Bank of England's decision on interest rates. The key benchmark indices in France, Germany and UK fell by between 0.03% to 1.06%.

The Bank of England is likely to keep interest rates on hold at a record low of 0.5 %, and maintain the quantitative easing programme at 200 billion pounds of asset purchases.

Most Asian stocks declined Thursday, with Chinese shares dropping sharply as a central bank move to tighten liquidity in the money markets raised fears interest rate increases could come sooner than expected. China's Shanghai Composite lost 1.9% to finish at 3192.78, extending losses after the People's Bank of China sold 60 billion yuan ($8.78 billion) worth of three-month bills at 1.3684%, increasing the yield on such bills for the first time since August 2009, from 1.3280%. The Shenzhen Composite index also dropped 1.9%, to 1,179.99.

On Wednesday, China's central bank said that it would pay particularly close attention to the property market in 2010 while managing inflationary expectations

In other Asian markets, the key benchmark in South Korea, Japan, Singapore, Hong Kong, Taiwan and Indonesia fell by between 0.59% to 1.28%.

Trading in US index futures indicated Dow could fall 34 points at the opening bell on Thursday, 7 January 2010.

US markets closed flat on Wednesday, 6 January 2010 ahead of the crucial jobs report on Friday, 8 January 2010. The Dow Jones Industrial Average was up 1.66 points, or less than 0.1%, to 10,573.68. The broader S&P 500 Index was up 0.62, or 0.1%, to 1,137.14. The Nasdaq Composite Index was down 7.62 points, or 0.3%, to 2,301.09.

The Federal Reserve released minutes from its last meeting yesterday which indicated that some members think more stimulus measures for the economy may be desirable. They modestly raised their projection for GDP growth for growth forecast upward for 2010 and 2011 and said they see lower core inflation in the next few years.

In key economic data, ADP Employment Services data showed the private sector lost 84,000 jobs in December. That was fewer than the 145,000 jobs lost in November, but did exceed the 73,000 expected by economists. And the December ISM service index improved to 50.1 from 48.7 that was registered in November.

The July fed-funds futures contract, at Wednesday's settlement, priced in a 36% chance for the Federal Open Market Committee (FOMC) to lift the Fed funds rate to 0.5% at the late June 2010 policy meeting. That's down from a 46% chance at Tuesday's settlement, a 58% chance at Monday's settlement, and a 78% chance after the New Year's Eve-shortened session last Thursday.

The Fed cut interest rates to near zero in December 2008 and created a host of emergency lending facilities to fight the worst recession in more than 70 years. It has pledged low rates for an extended period. Fed watchers have focused on clues to the timing of a possible tightening of monetary policy as the economy recovers. The FOMC maintained the "extended period" stance in its last statement on 15 December 2009.

Closer home, the BSE 30-share Sensex fell 85.41 points or 0.48% to settle 17,615.72. The Sensex fell 134.49 points at the day's low of 17,566.64 in mid-afternoon trade. It gained 32.21 points at the day's high of 17,733.34 in early trade.

The S&P CNX Nifty declined 18.70 points or 0.35% at 5263.10.

BSE clocked a turnover of Rs 6159 crore, lower than Rs 6784.89 crore on Wednesday, 6 January 2010.

The market breadth, indicating the overall health of the market was strong. On BSE, 1638 shares advanced as compared with 1237 that declined. A total of 94 shares remained unchanged.

The BSE Mid-Cap index fell 0.02%. The BSE Small-Cap index rose 0.67%. Both the indices outperformed the Sensex.

Among sectoral indices on the BSE, the BSE Oil & Gas index (up 1.24%), the BSE Consumer Durables index (up 1.11%), the BSE Metal index (up 0.07%), the BSE Power (up 0.17%), the Capital Goods index (up 0.20%), the BSE Bankex (up 0.42%), and the BSE PSU index (up 0.43%), outperformed the Sensex.

The BSE FMCG index (down 0.49%), the BSE Realty index (down 0.63%), the BSE Healthcare (down 0.95%), the BSE Auto index (down 1.72%), and the BSE IT index (up 2.22%), underperformed the Sensex.

Among the 30-member Sensex pack, 18 fell while rest held firm.

Index heavyweight Reliance Industries (RIL) rose 1.51% on talks of more fund raising by the company through sale of treasury shares. RIL, which raised Rs 2,675 crore through the sale of treasury shares on Monday, 4 January 2010, is reportedly looking to generate a similar amount over the next few weeks by selling more stock to institutional investors.

The stake is likely to be offered at a discount of 2% to 4% as part of a strategy to beef up its cash reserve. The funds would be used for its immediate requirement in exploration and production (E&P), debt repayments and acquisition of bankrupt chemical giant LyondellBasell.

RIL, early this week, sold 2.58 crore treasury shares, created eight years ago following the merger of Reliance Petroleum with RIL, to state-owned Life Insurance Corporation, which is the largest institutional shareholder in the company with a 6% stake.

Software pivotals fell for the second day in a row on a firm rupee. India's second largest software services exporter Infosys fell 2.30% as its ADR fell 1.53% on Wednesday. India's third largest software services exporter Wipro fell 2.25% as its ADR fell 1.2% on Wednesday. India's largest software services exporter TCS fell 2.61%.

A firm rupee adversely affects operating profit margin of IT firms as the sector derives a lion's share of revenue from exports.

The rupee extended its rally on Thursday afternoon soaring to new 15-month highs backed by large dollar sales by foreign banks, but buying of the US unit by importers and a weak sharemarket prevented a sharper rise. The partially convertible rupee was trading at 45.70/71 per dollar after hitting 45.55 earlier, its strongest since 23 September 2008 and above its previous close of 45.85/86.

Auto stocks fell on profit taking. India's largest motorcycle maker by sales Hero Honda Motors fell 2.51%. Hero Honda will comfortably exceed its fiscal 2009/10 sales target of 40 lakh units, its managing director Pawan Munjal said to media on Thursday. Sales jumped 74% to 375,838 units in December 2009 over December 2008.

Bajaj Auto fell 1.72%. Bajaj Auto sold 2,20,429 two-wheelers in December 2009, registering an 85% growth in sales over the same month last year, when it sold 1,19,215 units.

TVS Motors fell 0.81% falling for the third straight day. Sales rose 34% to 119,701 units in December 2009 over December 2008.

India's top truck maker by sales Tata Motors fell 3.37%. Tata Motors has raised prices of some truck and bus models in January 2010 by about 1%. The company expects commercial vehicle sales to remain strong in the next 12 months. The company's chairman Ratan Tata said on Tuesday that the company may consider launching its ultra-cheap Nano car in the United States in three years, following possible sales in Europe by the end of 2011.

Tata Motors registered 105% growth in sales to 51,627 units in December 2009 over December 2008.

India's largest tractor marker by sales Mahindra & Mahindra (M&M) fell 2.14%. M&M marked its entry on Monday into the heavy commercial vehicle (HCV) segment with its unveiling of 25 and 31 tonne trucks with its US-based joint venture partner Navistar Inc.

Mahindra & Mahindra, reported 122% rise in its domestic sales to 22,754 units in December 2009 over December 2008. The company sold a total of 24,001 vehicles (domestic plus exports) in December 2009 as against 11,172 vehicles sold in December 2008.

India's largest car maker by sales Maruti Suzuki India fell 0.60%. The company said on Thursday it had priced newly launched five-seater multipurpose car Eeco at 259,000 rupees ($5,640), as competition for low-cost vehicles heats up.Maruti Suzuki's managing director and chief executive officer, Shinzo Nakanishi was quoted by the media as saying on Tuesday that the company will see flat to lower exports next year because of the scrappage of incentives by Europe. He also said there would be lower offtake from Nissan for exports as a result of the removal of incentives.

Nakanishi said the company aims to keep operating margins at 10% in fiscal year 2009/10 but profitability will be impacted by a rise in raw material prices and a rise in the yen.

Maruti Suzuki India reported 50.6% increase in total vehicle sales to 84,804 units in December 2009 over December 2008. Domestic sales rose 36.5% to 71,000 units, while exports surged 223.7% to 13,804 units.

Rate sensitive realty stocks also fell on profit taking. India's largest realty player by market capitalization DLF fell 1.12%. On 16 December 2009, the company's board approved merger of its commercial realty arm DLF Assets (DAL) with itself, a move aimed at repaying some of DAL's debt.

Among other realty stocks, Ackruti City, Unitech, Indiabulls Real Estate fell by between 0.77% to 1.41%.

Consumer durables stocks gained on hopes of good earnings on the back of higher sales in Christmas. Lloyd Electric, Blue Star, Titan Industries and Rajesh Exports rose by between 0.70% to 11.04%.

Non banking finance companies gained after Securities and Exchange Board of India said regulated finance companies no longer need to show 100% asset cover while selling unsecured debt instruments. SREI Infrastructure Finance, Shriram Transport Finance, Sundram Finance, Shriram City Union Finance rose by between 0.25% to 8.45%.

DB Corp lost 3.69% on profit booking after a decent debut on Wednesday, 6 January 2010.

Steel Strips Wheels was locked at 5% upper limit at Rs 117.40, extending gains for the seventh consecutive day, after the company secured an overseas contract for supplying spare wheels.

Cals Refineries reported a highest volume of 3.34 crore shares on the BSE. Kaashyap Technologies (2.62 crore shares), Alok Industries (1.07 crore shares), IFCI (1.02 crore shares), and Satyam Computer Services (93.17 lakh shares), were the other volume toppers on the BSE.

Aban Offshore clocked the highest turnover of Rs 167.97 crore on the BSE. Reliance Industries (Rs 164.35 crore), Essar Oil (Rs 136.02 crore), Tata Steel (Rs 120.43 crore), and Bombay Dyeing & Manufacturing Company (Rs 109.74 crore), were the other turnover toppers on the BSE.

Stocks at Wall Street end almost flat

Stocks do not react much on a day full of catalysts

US stocks lacked direction for the entire day on Wednesday, 06 January 2010 and ended almost flat. Stocks pared almost all their mid day gains, mainly led by the technology sector. The materials and energy sectors tried to support the market though. Economic reports checked in mixed in nature though did not move market either way. The latest Federal Open Market Committee meeting minutes were released today.

At the end of the day on 06 January, 2010, the Dow Jones Industrial Average ended higher by 1.66 points at 10,573.68. Nasdaq Composite ended lower by 7.62 points at 2301.09. S&P 500 ended higher by 0.62 points at 1137.14. Dow was trading higher by 17 points earlier during the day.

Six of the ten economic sectors ended higher for the day led by materials, energy, and financial sectors. Telecom and technology sectors lagged. Consumer discretionary sector remained almost unchanged.

Blue chips fought the entire day to keep the Dow in positive territory. The broad-based S&P 500 also battled to remain in the green.

Google, Oracle and Microsoft were the main laggards in the technology sector.

According to the latest Federal Open Market Committee meeting minutes, members said that more stimulus might become desirable, but that asset purchases could be scaled back. Officials also expressed a continued concern about a weak labor market.

Among major economic data expected for the day at Wall Street, The ADP employment report in US showed on Wednesday, 06 January, 2010 that private-sector firms in the U.S. eliminated 84,000 jobs in December, the 23rd decline in a row. It was the fewest jobs lost since March 2008. But the figure was more than an estimated 75,000. In November, a revised 145,000 jobs were lost, compared with the 169,000 originally reported.

Separately, The Institute for Supply Management reported in US on Wednesday, 06 January 2010 that the service sectors of the U.S. economy rebounded in December 2009. The ISM non-manufacturing index rose to 50.1% from 48.7% in November. Market was expecting the ISM non-manufacturing index to rise to 51%.

Readings above 50% in the diffusion index indicate that activity at more firms is expanding rather than contracting. The report showed that seven industries reported growth, while nine reported contraction.

Crude prices ended higher at Nymex on Wednesday, 06 January 2010. Prices rose following the cold weather and lower dollar. Price climbed up despite the energy department reporting a build up in crude inventories for last week.

On Wednesday, crude-oil futures for light sweet crude for February delivery closed at $83.18/barrel (higher by $1.41 or 1.7%). During intra day trading it fell to $80.85/barrel. Prices have now risen for ten consecutive sessions and have gained 14.7% in that stretch.

The EIA reported today that U.S. crude inventories rose by 1.3 million barrels in the week ended 1 January, 2010. The report also showed that gasoline inventories increased by 3.7 million barrels. Distillate stockpiles fell 300,000 barrels. The EIA data also showed that net crude imports rose 4.1% to 8.323 million barrels a day. Refiners reduced their production last week, operating at 79.9% of their operable capacity, down from the previous week's 80.3%.

Market was anticipating that weekly inventory report by energy department will show crude and gasoline stockpiles to have dropped by 0.2 million and 0.5 million barrels last week respectively.

In the currency market on Wednesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell by almost 0.2% following mixed economic data.

Indian ADRs ended mixed today. Dr Reddys and Rediff.com were the main gainers soaring 3.4% and 2.9% respectively. ICICI Bank and Infosys Technologies, each lost 1.5%.

For tomorrow, there are a few economic and earning reports expected. The initial and continuing claim reports are the economic ones expected.

Sensex may open flat

Headlines for the day

United Spirits mulls bond issue to refinance Rs3,000-crore debt

ONGC exits Trinidad and Tobago block

Pfizer to source 40 off-patent cancer care drugs from Strides

BHEL bags order for solar plant in state

Nalco eyes Rs25,000 crore by 2020

Events for the day

Major corporate action:

Ex-date for Amalgamation of Titagarh Steel Ltd

Weekly Inflation Numbers

Pre-market report

Global signals

On Wednesday European Markets closed flat. FTSE 100 closed 0.14% higher at 5530.

The US markets closes flat on Wednesday after Federal Reserve Official said that they were steel worried about labor market weakness. Nasdaq 100 declined 8 points and closed the day at 2301.

Among the Asian indices, all the Asian indices are trading weak except the Shanghai Composite & Nikkei that rises marginally. At the time of writing of this report, SGX Nifty is trading 1 points higher.

Indian markets

The domestic indices are expected to open flat, remain range-bound volatile, owing to weak global markets.

Among the local indices, the Nifty could test the 5300-5325 range on the up side, while on the down side it could find support at 5250 and 5200. While the Sensex is likely to get support at 17600 and may face resistance at 17850.

Indian ADR's

Among the Indian ADRs trading on the US bourses, Satyam leads the chart of gainers with gain of 3.98%. On other hand ICICI Bank was the worst performer with loss of 1.58%.

Commodity cues

In the commodity space, wherein the Crude oil prices recorded gain, with the Nymex light crude oil for February series rose by $1.05 to settle at $82.82 a barrel.

In the metals space, Comex Gold for February series rise by $18.30 to settle at $1137.00 to a troy ounce.

In the metals space, Comex Silver for March series rise by $0.38 to settle at $18.18 to a troy ounce.

Daily trend of FII/MF investment in equities

On January 06, 2010, FIIs were the net buyers of the Indian Stocks in the tune of Rs1061.90 crore (with the gross purchase of Rs3338.30 crore and gross sales of Rs2276.30 crore).

While the Domestic mutual funds, on January 05, 2010, were the net buyers of the stocks in the tune of Rs43.40 crore (with gross purchase of Rs1030.70 crore and gross sales of Rs987.30 crore).

Grey Market Premium - Infinite Computer Solutions

Company Name	Offer Price (Rs.)	Premium (Rs.)
Infinite Computer	155 to 165	12 to 15
MBL Infra	180	10 to 12