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Tuesday, December 31, 2013
FIIs continue buying
Net inflow of Rs 404 crore on 27 December 2013
Foreign institutional investors (FIIs) bought shares worth a net Rs 404 crore on Friday, 27 December 2013, compared with net inflow of Rs 783.80 crore on Thursday, 26 December 2013.
The net inflow of Rs 404 crore on Friday, 27 December 2013, was a result of gross purchases Rs 1460.60 crore and gross sales Rs 1056.60 crore. There was a net inflow of Rs 295.10 crore into the secondary equity markets on Friday, 27 December 2013, which was a result of gross purchases of Rs 1351.60 crore and gross sales of Rs 1056.50 crore. The S&P BSE Sensex had garnered 118.99 points or 0.56% to settle at 21,193.58 on that day, its highest closing level since 10 December 2013.
There was a net inflow of Rs 108.90 crore into the category 'primary market others' on Friday, 27 December 2013, which was a result of gross purchases of Rs 109 crore and gross sales of Rs 0.10 crore.
FIIs have purchased shares worth a net Rs 15956.90 crore in this month so far (till 27 December 2013). FIIs purchased shares worth a net Rs 8116.10 crore in November 2013.
FIIs have purchased shares worth a net Rs 113006.90 crore in 2013 so far (till 27 December 2013). FIIs bought shares worth a net Rs 128359.80 crore in calendar 2012.
There are a total of 1,740 foreign funds registered with the Securities & Exchange Board of India.
Crude settles below $100
Natural gas gains on cold weather
Crude oil futures settled below $100 a barrel on Monday, 30 December 2013 at Nymex but remained near a two-month high after data at the end of last week showed a further drop in U.S. crude supplies.
February crude oil fell $1.03, or 1%, to settle at $99.29 a barrel on the New York Mercantile Exchange.
Trading is likely to remain thin with many investors still on holiday. Monday's only piece of major economic data did little to shift prices.
Today's economic data at Wall Street was limited to November Pending Home Sales, which ticked up 0.2% while the consensus expected an increase of 1.5%.
Natural gas posted gains on colder weather. At the end of pit trading, February natural gas rose 7 cents to $4.43/MMBtu.
Among other energy products, January gasoline slipped nearly 3 cents, or 1%, to settle at just under $2.79 a gallon.
Monday, December 30, 2013
Nifty January 2014 futures at premium
Turnover rises
Nifty January 2014 futures were at 6334.95, at a premium of 43.85 points over spot closing of 6291.10. Turnover on NSE's futures & options (F&O) segment rose to Rs 66935.20 crore from Rs 58941.05 crore on Friday, 27 December 2013.
Aurobindo Pharma January 2014 futures were at 398.25, at a premium over spot closing of 394.10.
Infosys January 2014 futures were at 3536, at a premium over spot closing of 3502.
State Bank of India January 2014 futures were at 1772.90, at a premium over spot closing of 1765.
In the spot market, the 50-unit CNX Nifty lost 22.70 points or 0.36% to settle at 6,291.10, its lowest closing level since 26 December 2013.
The January 2014 derivatives contracts expire on 30 January 2014.
Friday, December 27, 2013
MCX, FTIL edge lower as MCX board directs FTIL to reduce stake
Shares of Multi Commodity Exchange of India and Financial Technologies (India) were off 2.43% to 3.59% at 10:44 IST on BSE after MCX said its board has advised FTIL to implement FMC's order by reducing its stake in MCX.
Multi Commodity Exchange of India (MCX) made the announcement after market hours on Thursday, 26 December 2013.
MCX (down 3.59% at Rs 455.65) and Financial Technologies (India) (FTIL) (down 2.43% at Rs 168.85) edged lower.
Meanwhile, the S&P BSE Sensex was up 98.69 points or 0.47% at 21,173.28.
MCX had underperformed the market over the past one month till 26 December 2013, advancing 1.57% compared with the Sensex's 3.18% rise. The scrip had, however, outperformed the market in past one quarter, jumping 15.51% as against Sensex's 5.94% rise.
FTIL had underperformed the market over the past one month till 26 December 2013, advancing 2.43% compared with the Sensex's 3.18% rise. The scrip had, however, outperformed the market in past one quarter, jumping 9.63% as against Sensex's 5.94% rise.
MCX's board of directors at a meeting held on Thursday, 26 December 2013, inter alia, decided to advise FTIL to implement the Forward Markets Commission's (FMC) order dated 17 December 2013 by reducing its stake in the company from 26% to 2% or below, within a period of 1 month hereof. The board also advised to withdraw the representation of FTIL -- Mr. Miten Mehta, on MCX Board in view of FMC letter dated 26 December 2013.
FMC in its order dated 17 December 2013 said that FTIL, the promoter and anchor share-holder holding 26% of the paid-up capital of MCX, is not 'fit and proper person' to continue to be a shareholder of 2% or more of the paid-up equity capital of MCX as prescribed under the guidelines issued by the Government of India (GoI) for capital structure of commodity exchanges post 5-years of operation.
The FMC order of 17 December also stated that Mr. Jignesh Shah, Ex- Director, Mr. Joseph Massey, Ex-Director and Mr. Shreekant Javalgekar, Ex-Managing Director & CEO of MCX, are not 'fit and proper person' in terms of the directions issued under the Board Composition Guidelines issued by the Commission and as amended from time to time.
FTIL had on 19 December 2013 said that the company had received FMC's order dated 17 December 2013, on the status of "Fit and Proper Person". FTIL had said that it is examining the order and will take appropriate steps in due course of time.
Jignesh Shah is currently the chairman of FTIL which owns and runs National Spot Exchange (NSEL) where a Rs 5600 crore payment crisis is being probed by multiple agencies.
FTIL's net profit fell 61.2% to Rs 27.02 crore on 12.8% decline in total income to Rs 128.93 crore in Q2 September 2013 over Q2 September 2012.
FTIL is among the global leaders in offering technology IP (Intellectual Property) and domain expertise to create and trade on next generation financial markets.
MCX's net profit fell 66.8% to Rs 27.05 crore on 38% decline in net sales to Rs 81.23 crore in Q2 September 2013 over Q2 September 2012.
MCX is a dominant player in commodity exchanges in India. Its market share stood at 89% in the first half of the fiscal year ending 31 March 2014.
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