Natco Pharma

Natco Pharma

Jain Irrigation Systems

Jain Irrigation Systems

Sensex ends in green; Tata Motors surges

The Sensex ended the volatile session with modest gains led by IT, teck, metal and auto stocks, while realty, banking and PSU stocks dipped. It opened flat with a loss of 10.21 points, at 16,866.95 on Wednesday following mixed global cues. The index continued to trade in red for the first half, touching a low of 16,777.94. Volatility was witnessed during the next half as the Sensex was gyrating between zone owing to alternative bouts of buying and selling to finally close in the green.

BSE Midcap and Smallcap index rose 0.22% and 0.34% respectively.

The Sensex ended the day with a gain of 35.61 points, or 0.21% at 16,912.77 after touching a high of 16,996.12 and a low of 16,777.94. The broad-based NSE Nifty climbed 9.00 points, or 0.18% at 5,042.05 after hitting a high of 5,067.25 and a low of 5,001.80.

European stocks advanced as the Dow Jones Stoxx 600 Index headed for a fifth day of gains, its longest winning streak since September. US stock-index futures rose. UK`s benchmark index FTSE 100 advanced 31.47 points, or 0.62%, to trade at 5,318.02. French benchmark index CAC 40 gained 35.17 points or 0.92% to trade at 3,869.88. Germany`s benchmark index DAX rose 74.54 points or 1.29% to trade at 5,886.55 (4.30 pm)

Asian stocks end on a negative note but Japanese banks advanced on speculation they`ll have at least a decade to implement stricter capital rules, and Chinese lenders fell after a regulatory official said bad loans pose a long-term risk. Japanese benchmark index Nikkei 225 gained 93.93 points, or 0.93%, to end at 10,177.41. Hong Kong`s Hang Seng fell 202.18 points, or 0.93%, to end at 21,611.74. China`s Shanghai Composite decreased 19.25 points, or 0.59% to end at 3,255.21.

Major gainers in the 30-share index were Tata Motors (3.08%), Mahindra & Mahindra (2.86%), Bharti Airtel (2.83%), Tata Steel (2.13%), Wipro (1.96%), and Tata Consultancy Services (1.84%).

On the other hand, Jaiprakash Associates (2.23%), State Bank Of India(1.29%), ITC (1.01%), Hindustan Unilever (0.66%), Bharat Heavy Electricals (0.61%), and Maruti Suzuki India (0.53%) were the major losers in the Sensex.

Overall market breadth was mixed. Out of the total 2,890 stocks traded at BSE, 1,411 advanced, 1,391 declined while 88 remained unchanged.

Among the sectoral indices, BSE IT which rose 1.64%, TECk climbed 1.59%, Metal rose 0.84%, Auto climbed 0.83% and HC rose 0.66%, while BSE Realty fell 1.21%, Bankex declined 0.56%, PSU declined 0.54%, FMCG fell 0.42%.

``The market looks little better than what it looked yesterday. The long term trend remains up. The market is expected to move in a range of 4,950 to 5,150,`` said Avinash Gupta, vice president, Research Equity, Bonanza Portfolio while commenting on the market outlook.

BSE Bulk Deals to Watch - Dec 16 2009

Scrip Code Company Client Name Deal Type * Quantity Price **
16/12/2009 505029 Atlas Cycle OPG SECURITIES P LTD B 32844 212.49
16/12/2009 505029 Atlas Cycle OPG SECURITIES P LTD S 32844 212.89
16/12/2009 505506 Axon Infotech ABSOLUTE LEASING & FINANCE PVT LTD B 12059 14.29
16/12/2009 505506 Axon Infotech MAMTA BHANDARI S 3450 14.18
16/12/2009 532230 Bengal Tea BINA S VORA S 47300 51.09
16/12/2009 532845 Bhagwati Banq PRIYAL INTERNATIONAL PVT LTD B 700000 47.28
16/12/2009 532845 Bhagwati Banq ADROIT TRADELINK PRIVATE LIMITED S 319816 46.90
16/12/2009 532845 Bhagwati Banq RAJYOG SHARE AND STOCK BROKERS S 266724 47.35
16/12/2009 532760 Deep Inds ARCADIA SHARE & STOCK BROKERS PVT. LTD B 115673 117.06
16/12/2009 532760 Deep Inds ARCADIA SHARE & STOCK BROKERS PVT. LTD S 119183 117.24
16/12/2009 532022 Filatex Fash SAGAR TEX CREATION PRIVATE LIMITED B 50000 15.10
16/12/2009 532022 Filatex Fash TODI SECURITIES PVT LTD S 37500 15.10
16/12/2009 511543 GSB Finance GSB SECURITIES PVT LTD B 50000 9.10
16/12/2009 511543 GSB Finance GSB SHARE CUSTODIAN SERVICES LTD S 50000 9.10
16/12/2009 507981 Jindal Hotels ABHISHEK VIJAYKUMAR SHAH B 165597 54.89
16/12/2009 507981 Jindal Hotels DYNAMIC STOCK BROKING INDIA PVT LTD B 44337 54.48
16/12/2009 507981 Jindal Hotels ABHISHEK VIJAYKUMAR SHAH S 262081 55.06
16/12/2009 507981 Jindal Hotels DYNAMIC STOCK BROKING INDIA PVT LTD S 44337 54.58
16/12/2009 524378 JMDE Pack BHUPENDRA MEHTA S 29908 3.22
16/12/2009 532950 Manjushree Techno CHANDRAPRAKASH RAMSI SARIA S 116211 38.26
16/12/2009 519560 Neha Intl B.K.KHULLAR & CO. B 783991 40.20
16/12/2009 519560 Neha Intl JASHWANT P. MAKWANA HUF B 400000 40.20
16/12/2009 519560 Neha Intl VINOD REDDY GADDAM S 1150000 40.20
16/12/2009 532045 Nexxoft Info VAISHALI M PATEL S 25053 17.38
16/12/2009 530605 Nova Petro REGENT FINANCE CORPORATION PVT. LTD. B 484455 18.02
16/12/2009 530605 Nova Petro JMP SECURITIES PVT LTD B 140051 16.47
16/12/2009 530605 Nova Petro DEEPAK BHAILAL DESAI B 145862 17.79
16/12/2009 530605 Nova Petro REGENT FINANCE CORPORATION PVT. LTD. S 484455 17.53
16/12/2009 530605 Nova Petro DEEPAK BHAILAL DESAI S 145915 17.95
16/12/2009 531496 Omkar Overseas ROHIT MANSUKHBHAI UNAGAR B 50000 39.00
16/12/2009 531496 Omkar Overseas OMPARKASH GUPTA B 29151 39.13
16/12/2009 531496 Omkar Overseas ALLIANCE CONSULTANCY B 100000 40.50
16/12/2009 531496 Omkar Overseas SAMIR DHIRUBHAI PUJARA S 88828 39.06
16/12/2009 531496 Omkar Overseas KRISHNADEVI OMKARMAL AGARWAL S 78256 40.50
16/12/2009 524372 Orchid Chem GENUINE STOCK BROKERS PVT. LTD. B 1000682 203.92
16/12/2009 524372 Orchid Chem SMART EQUITY BROKERS PRIVATE LIMITED B 357290 208.33
16/12/2009 524372 Orchid Chem MARWADI SHARES AND FINANCE LTD. B 415512 207.68
16/12/2009 524372 Orchid Chem OPG SECURITIES P LTD B 888771 206.56
16/12/2009 524372 Orchid Chem GENUINE STOCK BROKERS PVT. LTD. S 1000682 204.10
16/12/2009 524372 Orchid Chem SMART EQUITY BROKERS PRIVATE LIMITED S 357290 208.21
16/12/2009 524372 Orchid Chem MARWADI SHARES AND FINANCE LTD. S 417612 208.33
16/12/2009 524372 Orchid Chem OPG SECURITIES P LTD S 888771 206.71
16/12/2009 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 97002 32.11
16/12/2009 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA S 118012 32.01
16/12/2009 511585 Regency Trust POOJA BHARGAVA B 25000 13.70
16/12/2009 511585 Regency Trust ABHINAV BHARGAVA HUF B 25000 13.70
16/12/2009 511585 Regency Trust SRINJANI KAJARIA S 71600 13.99
16/12/2009 503205 Shree Ram Mills CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED B 325000 130.01
16/12/2009 503205 Shree Ram Mills MAVI INVESTMENT FUND LTD. S 325000 130.00
16/12/2009 512048 Splash Media BHROSEMAND COMMODITIES PVT. LTD. B 36684 485.25
16/12/2009 512048 Splash Media SUVUDHA SECURITIES PVT LTD S 59820 486.81
16/12/2009 533121 THINKSOFT DHARMSHI VASHRAM DESAI B 70493 294.26
16/12/2009 533121 THINKSOFT DHARMSHI VASHRAM DESAI S 70493 292.00
16/12/2009 531249 Well Pack Papers SHOBHNABEN R PARMAR B 32768 352.58
16/12/2009 531249 Well Pack Papers PANDYA YAMINIBEN M B 28155 341.52
16/12/2009 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR B 29697 348.45
16/12/2009 531249 Well Pack Papers SHOBHNABEN R PARMAR S 45546 353.43
16/12/2009 531249 Well Pack Papers PANDYA YAMINIBEN M S 35622 348.58
16/12/2009 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR S 30845 350.58
16/12/2009 530063 Yashraj Cont VASPARR SHELTER LTD B 70624 23.60
16/12/2009 530063 Yashraj Cont LOTUS GLOBAL INVESTMENTS LIMITED S 70000 23.60

NSE Bulk Deals to Watch - Dec 16 2009

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
16-DEC-2009,AHMEDFORGE,Ahmednagar Forgings Ltd,MACQUARIE BANK LIMITED,BUY,783642,66.00,-
16-DEC-2009,ATLASCYCLE,Atlas Cycles (Haryana) Lt,OM INVESTMENTS,BUY,16674,212.06,-
16-DEC-2009,IFCI,IFCI Ltd.,ADROIT SHARE & STOCK BROKER PVT. LTD.,BUY,4049688,50.58,-
16-DEC-2009,ITI,ITI Ltd.,PRAGYA EQUITIES PVT. LTD.,BUY,126827,43.40,-
16-DEC-2009,KERNEX,Kernex Microsystems (Indi,MBL & COMPANY LTD.,BUY,67772,128.82,-
16-DEC-2009,NOVA,Nova Petrochem Ltd,AANGI SHARES & SERVICES PVT. LTD,BUY,779531,17.93,-
16-DEC-2009,NOVA,Nova Petrochem Ltd,CPR CAPITAL SERVICES LTD.,BUY,311303,18.45,-
16-DEC-2009,NOVA,Nova Petrochem Ltd,DEEPAK B DESAI,BUY,167506,17.65,-
16-DEC-2009,NOVA,Nova Petrochem Ltd,JMP SECURITIES PVT LTD,BUY,164016,16.06,-
16-DEC-2009,NOVA,Nova Petrochem Ltd,MEET TRADELINK,BUY,249503,17.60,-
16-DEC-2009,NOVA,Nova Petrochem Ltd,VORA VILPABEN PRANAVBHAI,BUY,588807,17.94,-
16-DEC-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,GENUINE STOCK BROKERS PVT LTD,BUY,1101847,203.58,-
16-DEC-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,MARWADI SHARES AND FINANCE LIMITED,BUY,432825,208.46,-
16-DEC-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,NIRSHILP SECURITIES PVT. LTD.,BUY,388060,200.54,-
16-DEC-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,PRB SECURITIES PRIVATE LTD.,BUY,385066,210.84,-
16-DEC-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,TODI SECURITIES PVT. LTD.,BUY,596020,205.03,-
16-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,MBL & COMPANY LTD.,BUY,51374,291.68,-
16-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,REGENT FINANCE CORPORATION PVT. LTD.,BUY,139006,293.30,-
16-DEC-2009,VALECHAENG,Valecha Engineering Limit,INDIA MAN FUND (MAURITIUS) LTD. DEUTSCHE BANK,BUY,100000,105.50,-
16-DEC-2009,AHMEDFORGE,Ahmednagar Forgings Ltd,RAPID ESTATES PVT. LTD.,SELL,691000,66.04,-
16-DEC-2009,ATLASCYCLE,Atlas Cycles (Haryana) Lt,OM INVESTMENTS,SELL,16674,212.19,-
16-DEC-2009,IFCI,IFCI Ltd.,ADROIT SHARE & STOCK BROKER PVT. LTD.,SELL,4026048,50.68,-
16-DEC-2009,ITI,ITI Ltd.,PRAGYA EQUITIES PVT. LTD.,SELL,126827,43.55,-
16-DEC-2009,KERNEX,Kernex Microsystems (Indi,MBL & COMPANY LTD.,SELL,67772,129.10,-
16-DEC-2009,NOVA,Nova Petrochem Ltd,AANGI SHARES & SERVICES PVT. LTD,SELL,779531,17.09,-
16-DEC-2009,NOVA,Nova Petrochem Ltd,AVIVA INDUSTRIES LTD,SELL,206000,16.01,-
16-DEC-2009,NOVA,Nova Petrochem Ltd,CPR CAPITAL SERVICES LTD.,SELL,281303,18.58,-
16-DEC-2009,NOVA,Nova Petrochem Ltd,DEEPAK B DESAI,SELL,156949,17.76,-
16-DEC-2009,NOVA,Nova Petrochem Ltd,JMP SECURITIES PVT LTD,SELL,156512,16.16,-
16-DEC-2009,NOVA,Nova Petrochem Ltd,MEET TRADELINK,SELL,249503,16.05,-
16-DEC-2009,NOVA,Nova Petrochem Ltd,MILLENNIUM INFOSOFT PVT LTD MILLENNIUM INFOSOFT,SELL,1150000,17.88,-
16-DEC-2009,NOVA,Nova Petrochem Ltd,VORA VILPABEN PRANAVBHAI,SELL,552034,18.06,-
16-DEC-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,GENUINE STOCK BROKERS PVT LTD,SELL,1101847,203.60,-
16-DEC-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,MARWADI SHARES AND FINANCE LIMITED,SELL,434925,207.66,-
16-DEC-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,NIRSHILP SECURITIES PVT. LTD.,SELL,528760,201.28,-
16-DEC-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,PRB SECURITIES PRIVATE LTD.,SELL,389266,211.84,-
16-DEC-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,TODI SECURITIES PVT. LTD.,SELL,596020,205.40,-
16-DEC-2009,SUPREMEINF,Supreme Infrastructure In,UPSURGE INVESTMENT AND FINANCE LIMITED ,SELL,72620,160.12,-
16-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,MBL & COMPANY LTD.,SELL,51379,292.09,-
16-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,REGENT FINANCE CORPORATION PVT. LTD.,SELL,139006,291.00,-
16-DEC-2009,VALECHAENG,Valecha Engineering Limit,MACKERTICH CONSULTANY PVT. LTD.,SELL,100000,105.50,-

Sensex caught in volatility

Today's major news

Tata Steel's Corus gets French rail contract; the stock surged by 2.13%.

Hospira to buy Orchid Chemicals and Pharmaceutical’s unit for $400 million; the stock tumbled 10.35%.

Mahindra & Mahindra acquires stake in two Australian aerospace companies; the stock jumps 2.86%.

Ipca's anti-malarial fixed dose combination pre-qualified by the World Health Organisation; the stock rises 2.70%

Gitanjali Gems acquires 76% stake in Salasar Retail; the stock ends the day 2.12% higher.

Post-market summary

Global signals

European stocks extended their gains in morning trades on Wednesday with banking stocks at forefront; FTSE was trading at 5330, higher by 0.84%, at the time of filing this report.

Among Asian indices, Nikkei, Straits Times and Jakarta Composite closed higher, while Kospi, Hang Seng and Shanghai Composite ended lower. Japan’s Nikkei closed at its 7-week high. SGX Nifty ended the day 39 points higher.

US stock futures opened with marginal gains on Wednesday as all eyes are set on Federal Reserve meet, as investors expect the central bank to stick to its loose monetary policy.

Indian indices

On mixed cues and leads from markets overseas, Sensex opened flat, about 10 points lower, at 16867. Witnessing high it swung by 200 points touching the day’s high of 16996 and the low of 16777. At 1530 hours, the index was 35 points higher at 16877. The NSE benchmark Nifty closed the day only nine points higher at 5042 .

Sensex sentiment

The market breadth was slightly tilled in favour of advancing stocks. Of the 2,890 stocks on the BSE, 1,411 stocks advanced whereas 1,391 stocks fell. Eighty eight stocks closed unchanged.

Sectoral & stock screening

Lacking direction, most of the sector indices ended almost flat. Information technology stocks have been back in the news for some days and the sector index BSE IT was up by 1.64%-- the highest for any index—for the day. BSE TECk was at No 2 slot, rising by 1.59% during the session. BSE Realty was at the bottom of index list posting a loss of 1.21%.

The stocks making news today include Praj Industries that surged by 5.94%, followed by Sterling Biotech that rose by 5.90% and Nagarjuna Construction Company that jumped by 5.43%. Lanco Infrastructure slid 3.81% followed by Indiabulls Real Estate that fell by 3.64% and See Entertainment that shed 3.07%.

Viewing volumes

Wind power company Suzlon Energy was the most traded share with over 1.10 crore shares changing hands on BSE followed by financial institution catering to Industries Industrial Finance Corporation of India (IFCI; 1.10 crore shares), India’s second largest realty company Unitech (0.77 crore shares), leading integrated steel maker Ispat Industries (0.41 crore shares) and world’s sixth largest steel maker Tata Steel (0.32 crore shares).

Asian Markets wrap up Wednesday mixed

Shanghai, Seoul, Taiex, Hang Seng ends lower while Sensex, Strait Times finish higher

Stock markets in Asian region continued to exhibit the mixed trend on Wednesday, 16 December 2009, as investors turns more cautious as they choose to for the outcome of the two-day U.S. Federal Reserve meet. Though stocks rebounded in some parts of the region after trading lower, the undertone remains somewhat cautious.

On Wall Street, stocks finished lower as investors absorbed data showing wholesale inflation and the manufacturing picture muddled. The Dow Jones Industrial Average fell by 49 points, or 0.5%, to 10,452 and the S&P 500 went lower by 6 points, or 0.6%, to 1108. The Nasdaq declined by 11 points, or 0.5%, closing at 2201.

In the commodity market, crude oil rose for a second day before a report forecast to show that U.S. crude inventories declined last week.

Crude oil for January delivery gained as much as 59 cents, or 0.8 percent, to $71.28 a barrel in electronic trading on the New York Mercantile Exchange. It was at $71.14 at 9:02 a.m. London time.

Brent crude oil for January settlement was at $72.64 a barrel on the London-based ICE Futures Europe exchange, up 59 cents, at 8:58 a.m. London time. Yesterday, the contract rose 16 cents to settle at $72.05 a barrel.

Gold gained in Asia, paring earlier losses, as the dollar's rally paused amid investor concern inflation may accelerate, boosting interest in the metal as a store of value. Gold for immediate delivery gained 0.2% to $1,127.13 an ounce by 3:17 p.m. in Singapore, after falling as much as 0.3% earlier. February-delivery bullion on the Comex division of the New York Mercantile Exchange was up 0.4% at $1,127 an ounce.

In the currency market, US dollar remained firm across the board as market awaits FOMC statements today. The stronger-than-expected employment report in November triggered speculations that the Fed will hike its policy rate earlier than previously anticipated, which led to a fight back in the dollar.

The Japanese yen softened against the major currencies today. Japan's currency was quoted at 89.48 yen per dollar, up from Tuesday's quote of 89.12 yen

The Hong Kong dollar was trading at HK$ 7.7538 against the dollar. Actually the Hong Kong dollar is pegged at HK$ 7.8 to the U.S. dollar but can trade between HK$ 7.75 and HK$7.85 to the U.S. dollar.

In Sydney trade, the Australian dollar stumbled after the Reserve Bank said local interest rates might not need to rise as far as earlier thought because of rising loan rates. Striking an unexpectedly dovish note, the Reserve Bank of Australia's Deputy Governor Ric Battellino today said overall monetary policy stance was back in the normal range as interest rates in the economy have outpaced rises in the official cash rate.

The dollar tumbled to $US0.8987 at the local close, breaking a support level at $US0.9000 where option barriers were also seen. It had traded at $US0.9125 here at yesterday's close.

In Wellington trade, the NZ dollar gained against the Australian dollar today after Reserve Bank of Australia (RBA) deputy governor Ric Battellino said the overall stance of Australian monetary policy was back in a normal range. The NZ dollar went for a ride lower as well to US71.76c at 5pm from US72.64c yesterday.

The South Korean won closed at 1,164.9 won to the greenback, down 3.4 won from Tuesday's close, as falls in U.S. stock markets and uncertainty about the U.S. Fed's rate decision increased demand for safer assets.

The Taiwan dollar weakened against the greenback. The Taiwan dollar was trading lower against the US dollar at NT$ 32.3280, 0.04700 down from Tuesday's close of NT$32.2810.

In equities, Asian shares were mostly lower after negative cues from Wall Street and due to some caution ahead of the Federal Reserve's meeting outcome, but banks in Japan surged on the prospect of a more relaxed timetable for the introduction of stricter capital requirements.

In Japan, shares market surged with strong lead from banks and financials after news report that tougher new capital-adequacy rules for banks might be delayed by at least ten years. Buy orders flooded mega banks from the outset on hopes that anticipated tougher capital adequacy rules won't be implemented any time soon. Shares of real estate issues soared on speculation lending capacity will expand on the banking sector's improvement. Weakness in the yen against greenback overnight also helped support the electronics and automakers.

At the closing bell, the Nikkei 225 Stock Average index was at 10,177.41, soared up 93.93 points or 0.93% from its previous close, while the broader Topix of all First Section issues on the Tokyo Stock Exchange surged 13.66 points, or 1.54%, to 898.29.

On the economic front, the ministry of Economy, Trade & Industry reported that the tertiary activity index rose a seasonally adjusted 0.5% month-on-month in October, reversing the downwardly revised 0.6% decrease in the previous month. On a yearly basis, the tertiary industry activity index slid 4.3% in October, slower than the 4.7% decrease in the preceding month.

In Mainland China, share market finished the session lower, weighed down on worries about liquidity tightening due to a slew of heavy new share supplies. Banks and financials declined after regulatory official said bad loans pose a long-term risk and the prospects of China cooling its lending binge. Properties shares were remain under pressure amid persistent fears that China's measures to cool its red-hot real estate market. Beijing said Tuesday it would boost the supply of affordable public housing and redevelop slum areas to rein in an overly rapid increase in property prices in some cities.

At the closing bell, the Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, slid 19.25 points, or 0.59%, to 3,255.21, meanwhile the Shenzhen Component Index on the smaller Shenzhen Stock Exchange dropped 1.16% or 160.87 points, to 13,664.97. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, slumped 0.63%, to 3,560.72.

In Hong Kong, the benchmark index stumbled with steep losses across the board, on tracking weak cues from Wall Street overnight and mainland market. Financials and properties shares suffered huge sell orders amid persistent fears that China's measures to cool its red-hot real estate market and as China Banking Regulatory Commission said bad loans pose a long-term risk. Energy shares were lower amid lingering worries over the economy and the immediate future of energy demand. Materials and industrials shrank as metal prices closed mixed yesterday in London.

At the closing bell, the Hang Seng Index stumbled 202.18 points, or 0.93%, to 21,611.74, meanwhile the Hang Seng China Enterprise, which tracks the overall performance of 43 mainland Chinese state-owned enterprises on the Hong Kong Stock Exchange, shrank 175.56 points, or 1.36%, to 12,691.43.

In Australia, the market finished the session modestly lower, after GDP figures showing economic growth were softer than expected in the third quarter, despite a bright start to the day that saw the market above the line at lunch. Banking stocks finished the day mostly lower, led by Westpac. Mining and industrial stocks weighed the most following consistent declines from the heavyweights. Gold miners slipped after the price of precious metal fell once again.

At the closing bell, the benchmark S&P/ASX200 index slipped 11.6 points, or 0.25%, to 4,661.9, meanwhile the broader All Ordinaries dropped 11.70 points, or 0.25%, to 4,676.1.

On the economic front, the Australian Bureau of Statistics said today that real gross GDP rose seasonally adjusted 0.2% in the September quarter. For non-farming GDP grew 0.3%, while terms of trade rose 1% and real gross domestic income increased 0.4%. Meanwhile, the Westpac-Melbourne Institute leading index of economic activity showed a 6.7% annualised growth rate in October.

In New Zealand, benchmark index ended in the positive region for the second consecutive session. The NZX50 increased 0.48% or 15.19 points to 3132.30. The NZX 15 advanced 0.49% or 27.99 points to close at 5701.31.

In South Korea, stocks closed lower as investors took a breather ahead of a key rate decision from the U.S. Federal Reserve. The benchmark Korea Composite Stock Price Index (KOSPI) inched down 1.61 points to 1,664.24, snapping a five-day winning streak.

In Singapore, the share market defied the weakness on the Wall Street with a rise, with positive performance in commodities producers and financials. Palm oil producers climbed after the crude palm oil for February delivery added 2.2% in Kuala Lumpur today. Properties stocks declined on tracking Chinese peers which fell as the prospects of China cooling its lending binge. At the closing bell, the blue chip Straits Times Index was at 2,813.93.

In Taiwan, stock market resumed its losing streak as technology shares tracking losses on Wall Street as concerns over inflation and technology demand spread. The benchmark Taiex share index broadened losses for the second session on Wednesday, by finishing the day lower by 56.02 points or 0.72% at 7751.60 breaching the 7800 level.

In Philippines, the stock market closed lower, despite the expectations that the central bank is likely to keep its policy rates lower when it meets tomorrow with inflation unlikely to be a problem in the short term. Investors became cautious amid a worsening economic landscape following the disappointing full-year outlook for the Philippines given by ADB. All the sectors failed to record any gain except for the property and industrial index, which limited the losses registered by the composite index. At the final bell, the benchmark index PSEi lost 0.46% or 14.20 points to 3,032.37, while the All Shares index tumbled 0.15% or 2.86 points to 1,893.64.

In India, the key benchmark indices surged in a highly volatile trade as European stocks and US index futures rose. Heavy bidding by foreign funds to the initial public offer of print media firm DB Corp also underpinned sentiment. The BSE Sensex was up 35.61 points or 0.21% to 16912.77. The S&P CNX Nifty was up 9 points or 0.18% to 5,042.05.

Elsewhere, Malaysia's Kula Lumpur Composite index finished slightly lower at 1269.03 while stock markets in Indonesia's Jakarta Composite index inched up 27.81 points ending the day higher at 2522.54.

In other regional market, British builders rallied in a faintly higher Europe stock market, as a broker's belief that a double-digit recession won't materialize drove up the sector. Of the major benchmarks in Europe, the U.K. FTSE 100 rose 0.8% or 40.72 points to 5,326, the German DAX added 1.4% or 79.36 points to 5,890 and the French CAC 40 rose 1.1% or 41.59 points to 3,876.

Turnover jumps

Nifty December 2009 futures at premium

Nifty December 2009 futures were at 5,057.80, at a premium of 15.75 points as compared to the spot closing of 5,042.05. Turnover in NSE's futures & options (F&O) segment surged to Rs 76,131.29 crore, from Rs 69,721.45 crore on Tuesday, 15 December 2009.

Tata Steel December 2009 futures were at premium at 561.40 compared to the spot closing of 560.

Orchid Chemicals & Pharmaceuticals December 2009 futures were near spot price at 196.85 compared to the spot closing of 196.65.

Infosys Technologies December 2009 futures were at discount at 2,535.95 compared to the spot closing of 2,554.

In the cash market, the S&P CNX Nifty rose 9 points or 0.18% at 5,042.05.

IT stocks lead intraday rebound

The key benchmark indices ended a volatile trading session on a firm note as European stocks and US index futures rose. Heavy bidding by foreign funds to the initial public offer of print media firm DB Corp also underpinned sentiment. The BSE Sensex rose 35.61 points or 0.21%, up close to 135 points from the day's low and off close to 85 points from the day's high.

Index heavyweight Reliance Industries cut intraday losses. IT and metal stocks rose. But, banking and realty stocks fell. The market breadth was positive

Intraday volatility was immense. After an initial slide, the market soon moved into positive zone following heavy bidding by foreign funds to the initial public offer of print media firm DB Corp. However, the intraday rebound proved short-lived. The market once again slipped into the red later. The market cut losses after hitting a fresh intraday low in morning trade. The market once again regained positive territory in early afternoon trade. The market slipped into the red after hitting fresh intraday high in early afternoon trade. The market surged in mid-afternoon trade. The market regained strength after falling into the red for a brief period in late trade.

India VIX, a volatility index based on the S&P CNX Nifty index option prices, declined 3.39% at 27.36. India VIX is a measure of the market's expectation of volatility over the next 30 calendar days

The initial public offer (IPO) of DB Corp, India's second largest regional newspaper, was subscribed a massive 39.54 times. The issue closed on Tuesday, 15 December 2009. The institutional investors category was bid 68.5 times with foreign institutional investors (FIIs) making a beeline for the IPO. FIIs bid for 30.67 crore shares, as compared to 76.33 lakh shares reserved for the institutional investors category as a whole. The strong response by foreign funds indicates that global liquidity remains ample.

Trade Minister Anand Sharma said on Wednesday exports growth is sustainable in the coming months. The exports broke their fall in November 2009 after 13 months of decline, adding to the flurry of positive economic data, but the news was greeted with caution by policymakers and exporters. Helped by Christmas buying, exports grew 18.3% to $13.2 billion in November from a small base last year.

On Tuesday, Moody's Investors Services raised its rating outlook on India's local currency to positive from stable, saying the move was prompted by increasing evidence that the Indian economy has demonstrated its resilience to the global crisis and is expected to resume a high growth path with its underlying credit metrics relatively intact.

Many Indian firms have reportedly paid higher advance tax in the third installment. As per media reports, Tata Motors has paid Rs 100 crore in third quarter versus Nil payment in the same period last year. Mahindra & Mahindra paid Rs 195 crore versus Rs 4.5 crore. Tata Steel paid Rs 650 crore versus Rs 260 crore. Hindalco Industries paid Rs 100 crore versus Rs 40 crore. Hindustan Unilever paid Rs 200 crore versus Rs 155 crore, Larsen & Toubro paid Rs 270 crore versus Rs 210 crore, Grasim Industries Q3 advance tax at Rs 150 crore versus Rs 75 crore, UltraTech Cement paid Rs 90 crore versus Rs 65 crore, HDFC's Q3 advance tax was at Rs 320 crore versus Rs 280 crore.

Bajaj Auto paid Rs 320 crore versus Rs 105 crore. The country's largest private sector company Reliance Industries paid Rs 850 crore, versus 450 crore year-ago period. Tata Consultancy Services' Q3 advance tax was at Rs 177 crore versus Rs 129 crore. ACC's Q3 advance tax was at Rs 110 crore versus Rs 125 crore. HDFC Bank's Q3 advance tax jumped to Rs 400 crore from Rs 300 crore. State Bank of India Q3 advance tax was at Rs 1795 crore versus Rs 1700 crore. ICICI Bank's Q3 advance tax fell to Rs 301 crore versus Rs 625 crore.

The Reserve Bank of India (RBI) may tighten monetary policy in this month as inflation could rise to near 7% in March 2010, the prime minister's economic adviser, C. Rangarajan, was quoted as saying by an internet portal. "By the end of December, they can review the situation and take action... it could come by end of December depending how the prices have behaved in December," Rangarajan was quoted as saying. "By the end of March 2010, it (inflation) could be close to seven per cent," he said. "Usually there is a seasonal decline... but certainly it appears that inflation by end of March will be higher than what has been projected earlier by the RBI," he said.

The government will take steps to tame rising prices and enable the economy to recover faster, Finance Minister Pranab Mukherjee said on Tuesday, as concerns about inflationary pressures spilling over to the broader economy mount. Mukherjee also said the government intends to push tax reforms and cut its already-bloated fiscal deficit to 3% of gross domestic product after 2011/12 fiscal year, from 6.8% estimated for the current financial year ending March 2010.

Inflation and high fiscal deficit are major risks to the government's ambitious plan to ratchet up economic growth back to 9% level seen between 2005/06 and 2007/08. Latest government data shows food inflation at 16.7% in November 2009, which have pushed the headline inflation to 4.78%.

Meanwhile, the Bombay Stock Exchange (BSE) on Tuesday said it will advance trading hours by 10 minutes from 18 December 2009. Trading in the equity and equity derivatives segment will commence from 9:45 IST onwards, instead of the present timing of 9:55 IST, the BSE said.

Abu Dhabi's $10 billion financial aid to fellow United Arab Emirates member Dubai to meet debt obligations was in the form of bonds, the UAE foreign minister Sheikh Abdullah bin Zayed al-Nahayan said in remarks to the Jordanian state news agency. "They are debt instruments that would be paid back and carry interest just like loans."

European shares rose on Wednesday, with banks among the strongest performers, ahead of the Federal Reserve's interest rate decision and statement. The key benchmark indices in France, Germany and UK rose by between 0.5% to 1.2%.

The Markit flash euro-zone manufacturing purchasing managers index rose to a 21-month high of 51.6 in December 2009, up from 51.2 in November, while the services purchasing managers index rose to a 25-month high of 53.7 in December from 53 in November 2009.

Euro-area annual inflation was 0.5% in November, compared to the 0.1% drop in consumer prices in October, according to data released by Eurostat on Wednesday. The 0.1% monthly rise was smaller than the 0.2% advance economists expected. Rising alcohol and tobacco prices offset declines from food and housing.

Asian shares were mostly lower on Wednesday after negative cues from Wall Street and due to some caution ahead of the Federal Reserve's meeting outcome. The key benchmark indices in China, Hong Kong Singapore and South Korea were down by between 0.1% to 0.93%. But, the key benchmark indices in Indonesia and Japan were up by between 0.54% to 1.11%.

New global capital-adequacy rules for large banks may be delayed by at least a decade during a transition period, according to a Japanese news report Wednesday. The Nikkei business daily said in an unsourced report that the Swiss-based Basel Committee on Banking Supervision will stick to its plan to gradually introduce the new, stricter capital standards starting in 2012, but will establish a transition period of 10-20 years. The proposed changes include raising the current 8% minimum capital ratio and focusing on a narrower definition of core capital, the report said.

Trading in US index futures indicated Dow could gain 50 points at the opening bell on Wednesday, 16 December 2009.

US markets snapped a four-day winning streak on Tuesday as an inflation report stoked interest rate fears. General Electric delivered a weak outlook. GE told investors that it expects revenue to be flat next year. The Dow was down 49.05 points, or 0.5%, to 10,452. The S&P 500 index was down 6.18 points, or 0.6%, to 1,107.93, and the Nasdaq Composite Index was down 11.05 points, or 0.5%, to 2,201.05.

In important macro data from the US, inflation at the wholesale level surged 1.8% in November 2009, reflecting price jumps in energy and other products. The jump in inflation comes as the Federal Reserve kicked off a two-day monetary-policy meeting. Production climbed 0.8% in November 2009 in the US, the fourth gain in the past five months, the Federal Reserve said yesterday in Washington.

Federal Reserve Chairman Ben Bernanke, in a response to a lawmaker's questions made public on Tuesday, said the US economy currently has a high degree of slack, which should help keep inflation contained. The bulk of the evidence indicates that resource slack is now substantial, Bernanke said in written responses to questions from Senator Jim Bunning of Kentucky that were posted on the senator's website. "I continue to expect slack resources, together with the stability of inflation expectations, to contribute to the maintenance of low inflation in the period ahead," Bernanke said

Investors are increasingly wondering when Bernanke will signal any changes to the exceptionally loose US monetary policies and liquidity conditions that have propelled asset markets higher this year. Meanwhile, Bernanke's re-appointment as chairman of the Federal Reserve by the Senate banking committee is expected on Thursday.

The BSE Sensex rose 35.61 points or 0.21% to 16912.77. The Sensex rose 118.96 points at the day's high of 16996.12 in mid-afternoon trade. The Sensex fell 99.22 points at the day's low of 16774.94 in morning trade.

The S&P CNX Nifty rose 9 points or 0.18% to 5,042.05. Nifty December 2009 futures were at 5,057.80, at a premium of 15.75 points as compared to the spot closing of 5,042.05. Turnover in NSE's futures & options (F&O) segment surged to Rs 76,131.29 crore from Rs 69,721.45 crore on Tuesday, 15 December 2009.

The market breadth, indicating the overall health of the market was positive. On BSE, 1410 shares advanced as compared with 1390 that declined. A total of 90 shares remained unchanged. The breadth was weak in early trade.

Among the 30-member Sensex pack, 16 fell while rest rose.

A deluge of global liquidity has boosted stocks across the globe this year. Governments and central banks around the world have injected trillions of dollars in the past one year to pull the world out of a most severe recession since the 1930s Great Depression. The Sensex is up 7265.46 points or 75.31% in calendar year 2009, as on 16 December 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex is up 8752.37 points or 107.25% as on 16 December 2009.

Coming back to today's trade, the BSE Mid-Cap index rose 0.22% and the BSE Small-cap index rose 0.34% Both the indices outperformed the Sensex.

The sectoral indices on BSE showed a mixed trend. The BSE IT index (up 1.64%), the BSE Teck index (up 1.59%), the BSE Metal index (up 0.84%), the BSE Auto index (up 0.83%), the BSE Healthcare index (up 0.66%) outperformed the Sensex.

The BSE Realty index (down 1.21%), the BSE Bankex (down 0.56%), the BSE PSU index (down 0.54 %), the BSE FMCG index (down 0.42%), the BSE Oil & Gas index (down 0.3%), the BSE Consumer Durables index (down 0.28%), the BSE Power index (down 0.08%), the BSE Capital Goods index (up 0.17%), underperformed the Sensex.

India's largest private sector firm by market capitalisation Reliance Industries (RIL) fell 0.42% to Rs 1046.95. The stock came off the day's low of Rs 1038.10. Reliance Industries' efforts to buy a controlling stake in bankrupt petrochemical maker LyondellBasell has reportedly got a bit complicated, as the Netherlands-based company submitted a new reorganisation plan to a court in the US, even as the Indian company evaluates a binding bid.

The new plan of Lyondell to emerge from bankruptcy through a rights issue and payment of its huge debt does not preclude Reliance from proceeding with its plans.

Metal stocks rose, reversing intraday losses. JSW Steel, National Aluminum Company, Sterlite Industries, rose by between 0.41% to 2.81%.

India's largest aluminum maker by sales Hindalco Industries rose 1.02% after gaining 1.07% on Tuesday. The company paid Rs 100 crore as advance tax in third quarter versus Rs 40 crore same quarter last year.

India's largest steel maker by sales Tata Steel rose 2.13% as the company's European unit Corus secured a 350 million euro contract to supply rails tracks to French railway operator SNCF. The company paid Rs 650 crore as advance tax in third quarter versus Rs 260 crore same quarter last year.

IT stocks rose for the third straight day after stronger-than-expected retail sales and consumer sentiment data in the US reinforced investor confidence in a steady economic recovery. US is the biggest market for Indian IT companies. India's third largest software services exporter Wipro rose 1.96%. Its ADR rose 0.25% on Tuesday. India's largest IT exporter by sales Tata Consultancy Services rose 1.84% as company's Q3 advance tax surged to Rs 177 crore from Rs 129 crore.

India's second largest software services exporter Infosys Technologies rose 1.53% Infosys Technologies expects revenue growth in the fiscal year starting in April to be better than 2009/10 as a recovery in the global economy spurs investments by its clients, Subhash Dhar, senior vice-president and head of global sales and marketing said. Its ADR fell 0.17% on Tuesday.

India's top truck maker by sales Tata Motors rose 3.08% as company paid Rs 100 crore as advance tax in third quarter versus Nil same quarter last year.

India's top tractor marker by sales Mahindra & Mahindra (M&M) rose 2.86% after company paid Rs 195 crore as advance tax in third quarter versus Rs 4.5 crore same quarter last year. M&M said. M&M has forayed into the aerospace business by acquiring majority stakes in two Australian companies, Aerostaff Australia and Gippsland Aeronautics. Mahindra Aerospace (MAPL), in which Kotak Private Equity has also invested Rs 150 crore, will hold 75 % stake in each of the two Aussie companies. The remaining will be held by the existing managements. The payments will be made in installments.

Realty stocks fell on profit taking. India's largest realty player by market capitalization DLF fell 0.42%. The DLF board on Tuesday approved the integration of DLF Cyber City, DLF's subsidiary engaged in rental businesses, with Caraf Builders & Constructions. DLF will own 60% of the integrated entity while promoters will hold the remaining 40%. Caraf is the holding company of DLF Assets (DAL) and has 96% economic interest in the company. DLF Assets owns 4 SEZ properties with total leased area of 6.4 million square feet.

Among other realty stocks, Indiabulls Real Estate, Unitech and Ackruti City fell by between 0.5% to 3.64%.

Banking shares fell on a likely monetary tightening by the RBI. India's second largest private sector bank by net profit HDFC Bank was down 0.36%. The bank's Q3 advance tax jumped to Rs 400 crore versus Rs 300 crore.

India's largest bank by net profit and branch network State Bank of India was down 1.29%. The state-run bank paid advance tax of Rs 1795 crore versus Rs 1700 crore.

India's largest private sector bank by net profit ICICI Bank fell 0.25% as bank's Q3 advance tax fell to Rs 301 crore from Rs 625 crore. Its ADR fell 4.13% on Tuesday. ICICI Bank has launched a home-loan scheme under which 8.25% interest rate will be fixed for the first two years. The floating rates will apply after 2 years. These rates will be applicable to loans sanctioned between December 2009 and January 2010.

India's largest FMCG maker by sales Hindustan Unilever fell 0.66% even after company paid Rs 200 crore as advance tax in third quarter versus Rs 155 crore same quarter last year.

Among other FMCG stocks, Nestle India, Dabur India and ITC fell by between 0.12% to 1.53%.

India's largest mobile services provider by sales Bharti Airtel gained 2.83% on reports the company is set to buy a 70% stake for $900 million in Bangladesh's fourth-biggest telecom company Warid Telecom. The stock was the major gainer from the Sensex pack.

Among other telecom stocks, Reliance Communications, Idea Cellular and Spice Communications rose by between 0.14% to 3.17%.

India's largest thermal power generator by sales NTPC fell 0.12%, As per reports the government plans to mop up around Rs 11,000 crore from the disinvestment of 5% stake in the utility giant.

Among other power stocks, Reliance Power, Reliance Infrastructure and Torrent Power fell by between 0.14% to 0.89%.

Shares of state-run oil-marketing companies declined, after crude oil prices rose nearly 2% on the New York Mercantile Exchange on Tuesday, 15 December 2009. Bharat Petroleum Corporation (BPCL) (down 0.95%), Hindustan Petroleum Corporation (HPCL) (down 1.45%) and Indian Oil Corporation (IOC) (down 2.05%) edged lower. Light, sweet crude oil rose $1.18, or 1.7%, to $70.69 a barrel on the New York Mercantile Exchange, on Tuesday, 15 December 2009 after the Organization of the Petroleum Exporting Countries (OPEC) raised its forecast for global oil demand for next year. Rise in crude oil prices will increase under-recoveries of state-run oil firms on domestic sale of petrol, diesel, LPG and kerosene at a controlled price.

Auto stocks were trading mixed. India's largest small car maker by sales Maruti Suzuki India fell 0.53%. Suzuki Motor Corp and Volkswagen AG will start detailed discussions over joint projects after 10 January 2010, Suzuki CEO Osamu Suzuki said on Wednesday. Japan's Suzuki Motor said on 9 December 2009 it will sell a 19.9% stake to Volkswagen (VW) for $2.5 billion and use half the proceeds to buy shares in the German automaker, as the two firms form a formidable force in the auto industry. Japan's Suzuki has a 54.2% stake in Maruti Suzuki India.

Maruti's total vehicle sales spurted 66.60% to 87,807 units in November 2009 over November 2008. Domestic sales spurted 60.10% to 76,359 units, while exports surged 128.60% to 11,448 units in November 2009 over November 2008.

India's largest motorcycle maker by sales Hero Honda Motors fell 0.45%. The company's total vehicle sales jumped 32% to 3.81 lakh units in November 2009 over November 2008.

India's second largest bike maker by sales Bajaj Auto fell 0.74%. Bajaj Auto will reportedly stop producing scooters by March 2010 to focus on motorcycles.

Bajaj Auto on 9 December 2009 launched a 135 cc Pulsar, pushing the Pulsar brand into the mass segment. Bajaj expects a sell a minimum 30,000 units per month of the new Pulsar model. The automaker had recently refreshed the entire Pulsar lineup and expects total Pulsar sales to cross 80,000 units per month.

The company's total vehicle sales rose 73% to 2.76 lakh units in November 2009 over November 2008. Motorcycles sales jumped 84% to 2.42 lakh units.

Car sales in India rose an annual 61% to 1,33,687 in November 2009 over November 2008, boosted by improved consumer sentiment, easier availability of loans and a low sales base a year earlier, an industry body said on Tuesday. Sales of trucks and buses, a gauge of economic activity, doubled to 40,847 units in November from 20,631 a year earlier, data from the Society of Indian Automobile Manufacturers showed.

India's largest engineering and construction firm by sales Larsen & Toubro fell 0.1% extending Tuesday's fall even as the company paid Rs 270 crore as advance tax in third quarter versus Rs 210 crore same quarter last year.

Among other capital goods stocks, Bharat Heavy Electricals, SKF India, BEML fell by between 0.12% to 0.81%.

India's largest cement maker by sales ACC rose 1.16% even as company's Q3 advance tax was at Rs 110 crore, lower than Rs 125 crore in the same period last year.

Among other cement stocks, UltraTech Cement, Ambuja Cements rose by between 0.98% to 2.06%.

Cement prices are reportedly seen hardening in the January-March 2010 quarter as demand from state projects picks up and rural housing drives volume growth. Prices went up by Rs 8-10 for a 50 kg bag southern India late November to Rs 155-175, while a similar hike in Mumbai on 2 December 2009 raised prices to Rs 240-245 per bag.

Airline stocks rose on reports domestic carriers have reported a 29.8% increase in traffic for the month of November, compared to the same period last year. King Fisher Airline, SpiceJet and Jet Airways rose by between 0.82% to 7.2%.

Cals Refineries clocked highest volume of 1.2 crore shares on BSE. Suzlon Energy (1.1 crore shares), IFCI (1.1 crore shares), Orchid Chemicals & Fertilisers (0.95 crore shares) and Austral Coke & Projects (0.81 crore shares) were the other volume toppers in that order.

Orchid Chemicals & Fertilisers clocked the highest turnover of Rs 188.46 crore on BSE. Tata Steel (Rs 180.28 crore), State Bank of India (Rs 147.04 crore), ICICI Bank (Rs 117.80 crore) and Suzlon Energy (Rs 89.58 crore) were the other turnover toppers in that order.

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Daily Technicals - Dec 16 2009

Daily Technicals - Dec 16 2009

Morning Research - Dec 16 2009

Morning Research - Dec 16 2009

Morning Notes - Dec 16 2009

Morning Notes - Dec 16 2009

Grey Market Premium - DB Corp, Godrej Properties

Company Name	Offer Price (Rs.)	Premium (Rs.)
MBL Infra	165 to 180	3 to 5
JSW Energy Ltd.	100	2 to 3
Godrej Properties	490	4 to 5
D. B. Corp.	185 to 212	6 to 8

SGX Nifty continues to be flat

5,022.00 +1.00