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Tuesday, December 13, 2011
Market may extend three day slide on weak Asian stocks
The market may extend three day 5.96% decline on weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 39.50 points at the opening bell.
Key benchmark indices declined for the third straight day to settle at their lowest level in more than 2 weeks on Monday, 12 December 2011 as data showing decline in industrial production in October 2011 for the first time in more than two years and weak European stocks dampened sentiment. The BSE Sensex lost 343.11 points or 2.12% to settle at 15,870.35, its lowest closing level since 25 November 2011.
Foreign institutional investors (FIIs) sold shares worth Rs 428.30 crore on Monday, 12 December 2011, as per the provisional data from the stock exchanges. FIIs had sold shares worth Rs 248.57 crore on Friday, 9 December 2011.
Sensex sinks 343 points on IIP shocker; IT survives
Concerns over growth slowdown, weak rupee coupled with negative global cues pulled the markets lower, with the Sensex falling 343 points and the Nifty declining 102 points at the close
Headlines for the day
October IIP at -5.1% versus 1.9% in September
Kinetic Engg, Kinetic Motor surge after board approves merger
Emami plunges after AMRI Hospital fire incident
Aviation stocks make smart gains
Sensex, Nifty settle at over two-week lows
Key benchmark indices declined for the third straight day to settle at their lowest level in more than 2 weeks as data showing decline in industrial production in October 2011 for the first time in more than two years and weak European stocks dampened sentiment. The barometer index, BSE Sensex, fell below the psychological 16,000 mark. The BSE Sensex shed 343.11 points or 2.12%, off about 490 points from the day's high and up close to 30 points from the day's low. The market breadth was weak.
From a recent high of 16,877.06 on 7 December 2011, the Sensex has tumbled 1,006.71 points or 5.96% in three trading sessions. The Sensex has fallen 253.11 points or 1.56% so far this month. The Sensex has slumped 4,638.74 points or 22.61% in calendar 2011. From a 52-week high of 20,664.80 on 3 January 2011, the Sensex has lost 4,794.45 points or 23.2%. From a 52-week low of 15,478.69 on 23 November 2011, the Sensex has risen 391.66 points or 2.53%.
Monday, December 12, 2011
Markets set for a positive start; IIP data eyed
Today’s opening is likely to be on a positive note led by gains across the globe after EU deal. Index of industrial production data for October will be out today.
Headlines for the day:
Lupin eyes $300 mn revenue from Japan in next 2 yrs
Central Bank waives pre-payment on housing loans
RIL eyes energy targets in the Americas
Govt may face Rs25K crore direct tax shortfall in 2011-12
GAIL signs pact to buy 3.5 MT per year LNG from US
Events for the day:
IIP data for October
Ex-date for dividend of Kemrock Industries & Exports, IMP Powers
Ex-date for final dividend of Caplin Point Laboratories
Daily News Roundup - Dec 12 2011
Videocon will invest over Rs1bn next year in R & D and in enhancing manufacturing capacities. (ET)
Maruti Suzuki is likely to defer its proposed investments in Gujarat as rising interest rates and fuel prices in a cooling economy force prospective buyers to retreat. (ET)
M&M plans to set up an assembly plant in South-East Asia and is eyeing markets in Thailand, Indonesia and Malaysia. (ET)
Coal India plans to install GPS-based movement tracking system to increase output at its major mines. (ET)
Sensex succumbs to EU jitters, local woes
The Indian market tumbled anew on Friday, extending the previous session’s big losses, as investors continued to shun risk amid growing evidence of a slowdown in the domestic economy. Stiff opposition to the Government’s proposed economic reforms this week has added to the perception of policy paralysis.
On the economic front, the Centre is struggling to control its worsening finances amid ballooning subsidies. It is most likely to overshoot the fiscal deficit target. The situation on the external front too is not encouraging with the current account gap widening. A weak rupee has only added to the bleak scenario.
IIP could play spoilsport!
There exist limitless opportunities in every industry. Where there is an open mind, there will always be a frontier. - Charles F. Kettering.
Markets in the US and Europe rallied on Friday following the end of the much-hyped EU Summit in Brussels. All but four EU nations have agreed to tighter budget rules. New bailout fund will be in place by the middle of 2012. The IMF is likely to be given €200bn in additional bilateral aid to support the debt-laden region. Whether the new pact will resolve the long-running debt crisis in the euro area only time will tell.
Better trades for the day - Dec 12 2011
Global Cues:
The European stocks ended higher on Friday (December 09, 2011). FTSE 100 up by 0.83%, CAC40 up by 2.48% and DAX up by 1.91%.
The US stocks closed in green on Friday. Dow Jones up by 1.55% and Nasdaq up by 1.94%.
The Asian shares were higher on Monday (December 12, 2011). SGX NIFTY was up by 0.52%.
Commodity cues
US crude oil prices rallied on Friday, after a choppy start, as an agreement for a closer euro zone fiscal union and news of a Chinese fund for US and European investment lifted the euro and equities markets.
Stock in news:
Lupin eyes $300 million revenue from Japan in next 2 years.
Central Bank waives pre-payment on housing loans.
Reliance Industries Limited ( RIL) eyes energy targets in the Americas.
Government may face Rs25,000 crore direct tax shortfall in 2011-12.
GAIL signs pact to buy 3.5 million tonne per year LNG from US,
Sunday, December 11, 2011
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