Sensex extends 3-day rise, ends 172 points higher

PSU oil & gas stocks were the top stars for the day after rise in fuel prices, which led the Indian markets to close the session on an optimistic note

Major news

Alstom-HCC JV wins Rs1,843 crore project

GTL clarifies on rise in volumes, share speculation

Hike in diesel price negative for cement companies

Fuel Price Hike

Fuel Price Hike

BSE Bulk Deals to Watch - June 27 2011

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
27/6/2011 533412 AANJANEYA CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 100193 392.67
27/6/2011 533412 AANJANEYA A K G SECURITIES AND CONSULTANCY LTD B 89763 393.10
27/6/2011 533412 AANJANEYA A K G SECURITIES AND CONSULTANCY LTD S 89763 393.35

NSE Bulk Deals to Watch - June 27 2011

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
27-JUN-2011,AANJANEYA,Aanjaneya Lifecare Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,100260,392.55,-
27-JUN-2011,GTL,GTL Limited,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,599887,108.39,-
27-JUN-2011,LOVABLE,Lovable Lingerie Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,240786,388.31,-
27-JUN-2011,MUKANDLTD,Mukand Limited,PACE STOCK BROKING SERVICES PRIVATE LIMITED,BUY,3500000,40.70,-

Nifty June 2011 futures above 5500

Turnover declines

Nifty June 2011 futures were at 5,536.60, at a premium of 10 points over spot closing of 5,526.60. Nifty July 2011 futures were at 5,550.90, at a premium of 24.30 points over spot closing of 5,526.60.

Turnover in NSE's futures & options segment declined to Rs 163359.54 crore from Rs 197862.56 crore on Friday, 24 June 2011. The near-month June 2011 futures derivatives contracts expire on Thursday, 30 June 2011.

PSU oil shares lead rally

Trading for the week began on an upbeat note as the key benchmark indices surged today, 27 June 2011, extending their rally into the third straight day, as a slide in global crude oil prices outweighed concerns that an increase in domestic fuel prices will stoke inflation. The BSE Sensex jumped 171.73 points or 0.94%, off close to 82 points from the day's high and up close to 280 points from the day's low. The market breadth was positive. The Sensex attained its highest closing level in nearly three weeks. The 50-unit S&P CNX Nifty achieved its highest closing level in 2-1/2 weeks.

Shares of state-run oil marketing companies rallied as government after market hours on Friday, 24 June 2011, announced a hike in the prices of diesel and cooking fuel. Upstream oil companies ONGC and Oil India surged after the government removed the 5% customs duty on crude oil.

Hike in fuel price lifts OMCs

The government hiked the price of diesel by Rs3 a litre, kerosene - Rs2 a litre and cooking gas by a steep Rs50 a cylinder. This followed the hike of over Rs5 per litre on petrol announced by oil marketing companies ( OMCs) in mid-May.

The decision to raise fuel prices was inevitable in view of the rising crude prices in the global market and its impact on the fiscal deficit

The impact on inflation is inevitable as the government did not have any other option but to hike the prices in light of huge under-recoveries.

The price hike would help the oil companies limit their revenue loss by Rs21,000 crore, but they would still end the fiscal with about Rs121,704 crore of revenue loss.

State-run oil marketing companies Indian Oil Corporation ( IOC), Bharat Petroleum Corporation Ltd ( BPCL) and Hindustan Petroleum Corporation Ltd ( HPCL) would benefit from increase in fuel prices. The shares of OMCs witness good buying interest.

At 9.26 am, BSE Oil & Gas was the leading index, up 1.23% at 9154.

HPCL was trading at Rs410.05, up by 4.47%, with a volume of 1.41 lakh shares on the BSE.

BPCL was trading at Rs663.65, up by 4.61%, with a volume of 1.14 lakh shares on the BSE.

IOC was trading at Rs349.55, up by 3.69%, with a volume of 0.92 lakh shares on the BSE.

Hike in fuel price lifts OMCs

The government hiked the price of diesel by Rs3 a litre, kerosene - Rs2 a litre and cooking gas by a steep Rs50 a cylinder. This followed the hike of over Rs5 per litre on petrol announced by oil marketing companies ( OMCs) in mid-May.

The decision to raise fuel prices was inevitable in view of the rising crude prices in the global market and its impact on the fiscal deficit

The impact on inflation is inevitable as the government did not have any other option but to hike the prices in light of huge under-recoveries.

The price hike would help the oil companies limit their revenue loss by Rs21,000 crore, but they would still end the fiscal with about Rs121,704 crore of revenue loss.

State-run oil marketing companies Indian Oil Corporation ( IOC), Bharat Petroleum Corporation Ltd ( BPCL) and Hindustan Petroleum Corporation Ltd ( HPCL) would benefit from increase in fuel prices. The shares of OMCs witness good buying interest.

At 9.26 am, BSE Oil & Gas was the leading index, up 1.23% at 9154.

HPCL was trading at Rs410.05, up by 4.47%, with a volume of 1.41 lakh shares on the BSE.

BPCL was trading at Rs663.65, up by 4.61%, with a volume of 1.14 lakh shares on the BSE.

IOC was trading at Rs349.55, up by 3.69%, with a volume of 0.92 lakh shares on the BSE.

Daily News Roundup - June 27 2011

Emami is getting ready for making a foray into food and beverage segment by testing waters with a glucose-based drink, thereby joining the league of GlaxoSmithKline and Rasna to energise the Rs6bn glucose drink market. (ET)

Emami is in talks with Reckitt Benckiser to buy the personal care business of Paras Healthcare for an estimated deal size of up to Rs 9bn. (FE)

Looking to diversify into power generation, REC plans to set up renewable energy projects entailing an investment of about Rs28bn crore in the next five years. (ET)

Sensex shoots past 18k...Nifty ends above 5400

The Indian equities galloped on Friday, with the BSE Sensex surging by over 500 points and the NSE Nifty cracking a solid century. The Sensex closed above 18,000, while the Nifty is within striking distance of 5500.

Although the Large-Cap shares paced the rise today, the non-index stocks too joined the party after being subdued over the past few sessions. As a result, the market breadth was very strong.

Another heartening aspect of the rally was that the traded volumes and turnover both improved substantially compared to the lackluster trading seen in the recent history.

Tolerance and courage!

The test of courage comes when we are in the minority. The test of tolerance comes when we are in the majority. - Ralph W. Sockman.

After 12 long months, the Government has finally mustered up some courage and hiked fuel prices. It also announced a recast of duties to mitigate the impact on consumers. While state-run oil companies will get some relief in the short term, the Centre’s revenues will be hit owing to the duty rejig. The overall picture on subsidies is still gloomy. Inflation will spike over the next few weeks. That, in turn will prompt the RBI to jack up rates further in maybe in July. Keep an eye on crude, which has corrected a bit lately.