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Saturday, December 03, 2011
NSE BSE Trading Holidays 2012
| Holiday | Date | Day |
| Republic Day | 26-Jan-12 | Thursday |
| Mahashivratri | 20-Feb-12 | Monday |
| Holi | 8-Mar-12 | Thursday |
| Mahavir Jayanti | 5-Apr-12 | Thursday |
| Good Friday | 6-Apr-12 | Friday |
| Maharashtra Day | 1-May-12 | Tuesday |
| Independence Day | 15-Aug-12 | Wednesday |
| Ramzan Id | 20-Aug-12 | Monday |
| Ganesh Chaturthi | 19-Sep-12 | Wednesday |
| Mahatma Gandhi Jayanti | 2-Oct-12 | Tuesday |
| Dussera – Vijaya Dashmi | 24-Oct-12 | Wednesday |
| Bakri Id | 26-Oct-12 | Friday |
| Diwali Amavasya (Laxmi Pujan)* | 13-Nov-12 | Tuesday |
| Diwali Balipratipada | 14-Nov-12 | Wednesday |
| Gurunanak Jayanti | 28-Nov-12 | Wednesday |
| Christmas | 25-Dec-12 | Tuesday |
* Muhurat Trading shall be held on Tuesday, November 13, 2012 (Diwali Amavasya – Laxmi Pujan)
Tata Steel partly shuts Wales strip mill, cuts 115 jobs
Tata Steel said it has temporarily shut down its hot strip mill partly in South Wales and has cut 115 jobs at the plant due to poor demand from within Britain.
'Tata Steel is temporarily to mothball the hot strip mill at its Llanwern site in Newport, South Wales, with immediate effect,' the company said in a statement.
The facility is expected to remain mothballed until the UK economy and steel demand justify a restart, it said.
Market soars on firm global cues
The market surged last week as global stocks climbed on renewed optimism that European officials were poised to take action to alleviate debt crisis wreaking havoc in the euro zone. Investors shrugged off India's weak GDP data amid expectation that the Reserve Bank of India (RBI) may pause its aggressive monetary stance to prop up growth.
The BSE Sensex surged 1,151.40 points or 7.34% to 16,846.83 in the week ended Friday, 2 December 2011. The 50-share S&P CNX Nifty surged 340.10 points or 7.22% to 5,050.15.
The BSE Mid-Cap index jumped 2.69% while the BSE Small-Cap index rose 2.32%. Both these indices underperformed the Sensex.
Market volatility likely to continue in forthcoming week
The market is likely to exhibit high degree of volatility in the forthcoming week. Lacking a clear direction, the market will dance to the tunes of pace of reforms, foreign fund flows and global cues.
The week ahead is a truncated one as the stock market remains closed on Tuesday, 6 December 2011 on account of Moharum.
Market gains for the third straight day; Nifty above 5000
Key benchmark indices gained for the third straight day to hit more than 2-week highs on firm European stocks and higher US index futures. The 50-unit S&P CNX Nifty index regained psychological 5,000 mark. The BSE Sensex was up 363.38 points or 2.2%, up about 410 points from the day's low and off about 40 points from the day's high. The market breadth was strong. Index heavyweight Reliance Industries (RIL) edged higher.
From the recent low of 16,008.34 on 29 November 2011, the Sensex gained 838.49 points or 5.23% in three trading sessions. The Sensex has slumped 3,662.26 points or 17.85% in calendar 2011. From a 52-week high of 20,664.80 on 3 January 2011, the Sensex has lost 3,817.97 points or 18.47%. From a 52-week low of 15,478.69 on 23 November 2011, the Sensex has risen 1,368.14 points or 8.83%.
Friday, December 02, 2011
Daily News Roundup - Dec 2 2011
Reliance Industries has told the government that already declining production at it’s the D6 block in offshore Andhra Pradesh, could plummet drastically if its investment plans are not approved forthwith. (ET)
Maruti Suzuki India said it had not indulged in any unfair labour practice by asking its workers to sign good conduct bonds, countering a statement made by labour and employment minister. (BS)
Mumbai International Airport Limited is from this Saturday putting Kingfisher Airline on a cash-and-carry mode, as it has not paid Rs900mn towards landing, parking and other charges. (ET)
BHEL has bagged a Rs400mn contract to supply equipment for a captive power plant being set up at global steel giant Arcelor Mittals plant in Ukraine. (BS)
Putting things in order!
Set all things in their own peculiar place, and know that order is the greatest grace.- John Dryden.
It appears to be consolidation time for the markets after coordinated central bank action lifted the sagging spirits briefly. The opening is likely to be tepid. Asian markets are mostly down following the overnight declines in Europe. US indices finished nearly flat. All eyes will be on the US monthly jobs report, to be released before the US market opens.
The good news is that FIIs have been net buyers in the last couple of sessions. Another encouraging tiding is that food inflation has softened lately. Hopefully, this trend will continue, giving much-needed elbow room to the RBI for keeping status quo on rates. Reduction in rates is still some time away though.
Market may start lower on weak Asian stocks
The market may open lower tracking weak Asian stocks, the day after a strong rally helped by a coordinated central bank action to cut the cost of funds in money markets. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 9.50 points at the opening bell.
IT stocks will be watched as the rupee surged 1.4% on Thursday and posted its largest single-session rise since May 2009, powered by hopes of dollar inflows, a day after the world's six major central banks announced co-ordinated action to help ease the euro zone crisis. The partially convertible rupee ended at 51.46/47 per dollar, after gaining as much as 51.40 -- a level last seen on November 18 -- in early trade. It had closed at 52.20/21 on Wednesday. A firm rupee adversely affects operating profit margins of IT firms as the sector derives a lion's share of revenue from exports.
Flat to negative start likely on global cues
The markets may see a flat to negative start in today's session. European officials agreed to strengthen a bailout fund and seek more aid from the IMF to lend to troubled economies.
Headlines for the day
ONGC investing Rs25,000 cr in 11 projects
Axis Bank to raise Rs1,500 crore from bonds
FDI to improve efficiency of retailers: Fitch
IRDA notifies IPO norms for life insurers
Unitech moves CLB seeking observer for Uninor's AGM
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