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Saturday, June 04, 2011
EGoM meeting on diesel prices in focus
A meeting of the ministerial panel on diesel prices, progress of the monsoon rains and data on industrial production will be on investors' radar next week. A decision on raising diesel price is likely to be taken by the Empowered Group of Minister (EGoM) headed by finance minister Pranab Mukherjee on Thursday, 9 June 2011. If the government hikes diesel prices it will lead to increase in inflationary pressures -- diesel is a key transportation fuel in India.
Market drifts lower on slowdown in services sector in May
The key benchmark indices extended losses for the second straight day as index heavyweight Reliance Industries (RIL) declined after chairman Mukesh Ambani at the company's 37th AGM (annual general meeting) said that RIL has to confront challenges arising out of higher commodity and input prices and inflationary trends. Data showing slowdown in growth in the services sector in May 2011 weighed on the sentiment. The BSE Sensex was down 117.70 points or 0.54%, off about 295 points from the day's high and up close to 30 points from the day's low.
Thursday, June 02, 2011
Market snaps two-day rally as world stocks drop
The key benchmark indices snapped two-day gains as weak global stocks sapped risk appetite. The BSE Sensex was down 114.63 points or 0.62%, up close to 105 points from the day's low and off close to 45 points from the day's high. The market breadth was weak. Reliance Anil Dhirubhai Ambani (ADA) Group stocks reversed intraday gains. Media reports after market hours suggested that the court has dismissed a plea for charging group chairman Anil Ambani in 2G scam. Metal and realty stocks also declined.
Index heavyweight Reliance Industries (RIL) edged higher. FMCG stocks also rose on rumours US-based Procter & Gamble is contemplating a 38 billion pound bid for its European rival Unilever. IT stocks declined on selling pressure. Banking pivotals were mixed.
Weak global cues drag Sensex 115 points lower
The Indian markets drifted lower snapping two-day winning streak as weak global cues weigh. The Sensex closed below 18500 level.
Major headlines
PIL filed against Dayanidhi Maran; Sun TV down 28%
Bank credit grows 22.3% in May
Economy may grow by 8.5% in FY12: Rangarajan
BSE Bulk Deals to Watch - June 2 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
2/6/2011 533412 AANJANEYA CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 97146 322.50
2/6/2011 533412 AANJANEYA CROSSEAS CAPITAL SERVICES PRIVATE LIMITED S 97146 322.45
2/6/2011 512535 Asahi Infra NEWGEN INTERNATIONAL PVT LTD B 184802 9.01
NSE Bulk Deals to Watch - June 2 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
02-JUN-2011,AANJANEYA,Aanjaneya Lifecare Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,96776,322.25,-
02-JUN-2011,CLUTCHAUTO,Clutch Auto Limited,AJAY,BUY,110003,65.10,-
02-JUN-2011,CLUTCHAUTO,Clutch Auto Limited,BP FINTRADE PRIVATE LIMITED,BUY,200467,67.46,-
Grey Market Premiums - June 2 2011
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Vaswani Ind. | 49 (Upper Price Band) | -3 to -5 (Discount) |
| Timbor Home | 54 to 63 | 4 to 4.50 |
| VMS Industries | 36 to 40 | 2.50 to 3 |
Weak global cues to drag markets lower at start
The start is expected to be on a weak note on account of un supportive global cues. Weekly inflation numbers will be announced today.
Headlines for the day:
LIC launches new health insurance plan
Cairn Energy may give up non-compete fee on Vedanta deal
Shipping Corp may place orders for 24 ships in FY12
Market may fall on weak Asian stocks; food inflation data eyed
The market may fall, snapping two days gains on weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a slide of 59.50 points at the opening bell. Foreign institutional investors (FIIs) bought shares worth Rs 445.22 crore and domestic funds sold shares worth Rs 141.96 crore on Wednesday, 1 June 2011, as per provisional figures released by the stock exchanges. The BSE Sensex was up 105.53 points or 0.57% to 18,608.81 on Wednesday, its highest closing level since 2 May 2011.
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