Tuesday, December 02, 2008
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
02-DEC-2008,ALKALI,Alkali Metals Limited,MBL & COMPANY LTD.,BUY,66002,149.72,-
02-DEC-2008,RJL,Renaissance Jewellery Lim,KALPANA NIRANJAN SHAH,BUY,102060,20.94,-
02-DEC-2008,ALKALI,Alkali Metals Limited,MBL & COMPANY LTD.,SELL,66002,149.32,-
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
2/12/2008 521064 ABHISHEK IND LOTUS GLOBAL INVESTMENTS LTD S 1810000 6.40
2/12/2008 532811 AHLUWALIA CO RITU JAIN B 500000 26.00
2/12/2008 532811 AHLUWALIA CO GOLDMAN SACHS INVESTMENTS MAURITIUS I LTD S 997304 26.51
2/12/2008 532811 AHLUWALIA CO RITU JAIN S 500000 26.99
2/12/2008 533029 ALKALI MANSUKH STOCK BROKERS LTD B 54618 149.32
2/12/2008 533029 ALKALI MANSUKH STOCK BROKERS LTD S 54618 149.59
2/12/2008 532282 AMTEK INDI L COPTHALL MAURITIUS INVESTMENT LIMITED B 2720903 21.00
2/12/2008 532282 AMTEK INDI L CREDIT SUISSE SINGAPORE LIMITED S 1401410 21.00
2/12/2008 532282 AMTEK INDI L MACQUARIE BANK LIMITED S 1095250 21.00
2/12/2008 504000 ELPRO INTERN JUPITER PAF INVESTMENTS LTD S 24962 362.00
2/12/2008 513361 ISW LTD KADAYAM RAMNATHAN BHARAT B 7500000 3.06
2/12/2008 513361 ISW LTD SHAKTIMAN STEEL CASTING PVT LTD S 7500000 3.06
2/12/2008 530955 KAILASH FICO MAXILLA FINANCIAL SERVICES PVT B 100000 22.97
2/12/2008 511551 NETWO ST BRO JUPITER ASSET MANAGEMENT LTD. B 75000 18.75
2/12/2008 511551 NETWO ST BRO PENINSULAR SOUTH ASIA INVT CO LTD B 75000 18.75
2/12/2008 511551 NETWO ST BRO JUPITER PAF INVESTMENTS LTD S 150000 18.75
2/12/2008 526747 P G FOILS LT PREM CABLES PVT LTD B 150000 20.50
2/12/2008 526747 P G FOILS LT TIRUMALA IRONS PVT LTD S 150000 20.50
2/12/2008 500368 RUCHI SOYA SWISS FINANCE CORPORATION MAURITIUS LIMITED B 2391606 21.95
2/12/2008 500368 RUCHI SOYA CREDIT SUISSE SINGAPORE LIMITED S 981311 21.95
2/12/2008 530461 SABOO SOD CH SPJ STOCK B 46524 8.88
2/12/2008 530735 SUPER BAKE I SUNIL JAGDISHCHANDRA AGRAWAL S 20760 4.71
2/12/2008 530735 SUPER BAKE I SUMIT JAGDISHCHANDRA AGRAWAL S 33067 4.72
2/12/2008 532691 TULIP TELE SWISS FINANCE CORPORATION MAURITIUS LIMITED B 313621 388.50
2/12/2008 532691 TULIP TELE COPTHALL MAURITIUS INVESTMENT LIMITED S 233241 388.50
2/12/2008 531249 WELL PACK PA SAMIR SURESHBHAI SHAH HUF B 38402 10.27
2/12/2008 531249 WELL PACK PA DEEPIKA SHARAD NANSI S 22275 10.06
The domestic market ended the day in negative territory due to the selling in key stocks throughout of trading session. The selling pressure was fuelled on weak cues from global stock markets. Though, market tried to recover during mid session on reports that India is not considering military action against Pakistan along with on hopes of rate cut by RBI. Japan''s central bank unveiled corporate financing steps. Bank of Japan will temporarily accept lower rated corporate debt as collateral from commercial banks and would provide unlimited funds collateralized by corporate debt at 0.3% interest. Along with this, Australia''s central bank slashed interest rates by 100 basis points to 4.25%, which is six-year low.
The Indian market opened lower on the back of weak cues from global markets. In the US, the National Bureau of Economic Research, or NBER, officially confirmed that the US recession started in December 2007. The markets weakened further during the trade as selling pressure intensified. Despite trimming losses after its struggle for recovery, market ended lower on account of a downtrend in global indices. The BSE Sensex slipped below 8,800 mark and NSE Nifty closed below 2,700 level. From the sectoral front, heavy selling pressure was seen in the Auto, Oil & Gas, IT, Consumer Durables, Capital Goods, Metal and PSU stocks. While, Reality, FMCG and Power stocks were in limelight as most of the buying was witnessed from these baskets.
Among the Sensex pack 18 stocks ended in red territory and 12 in green. The market breadth was negative as 1297 stocks closed in red while 801 stocks closed in green and 63 stocks remained unchanged.
The BSE Sensex closed lower by 100.63 points at 8,739.24 and NSE Nifty ended down by 25.10 points at 2,657.80. The BSE Mid Caps and BSE Small Caps ended with losses of 41.14 and 45.32 points at 2,805.33 and 3,252.41 respectively. The BSE Sensex touched intraday high of 8,785.04 and intraday low of 8,467.43.
Losers from the BSE Sensex pack are M&M Ltd (8.21%), Maruti Suzuki (5.24%), TCS Ltd (5.21%), L&T Ltd (3.46%), Sterlite Industries (3.29%), HDFC (3.27%), Tata Steel (3.16%), Reliance (3.10%), ONGC Ltd (2.61%), RCom (2.19%), Infosys Tech (1.91%) and HDFC Bank (1.56%).
Gainers from the BSE Sensex pack are Reliance Infra (5.37%), Bharti Airtel (3.05%), JP Associates (2.76%), NTPC (2.46%), ITC Ltd (2.45%), DLF Ltd (1.96%), Ranbaxy Lab (1.76%) and Hindalco (1.07%).
The BSE Auto index dropped by (3.04%) or 67.58 points to close at 2,154.75. Losers are M&M Ltd (8.21%), Amtek Auto (8.10%), Maruti Suzuki (5.24%), Tata Motors (3.28%), Bharat Forge (3.06%) and Ashok Leyland (2.40%).
The BSE Consumer Durables index lost (2.61%) or 44.24 points to close at 1,668.75. Major losers are Blue Star L (5.05%), Titan Ind (4.41%) and Videocon Ind (1.96%).
The BSE Oil & Gas index lost (2.45%) or 135.50 points to close at 5,397.87. Losers are Cairn Ind (4.31%), Reliance (3.10%), Essar Oil Ltd (2.90%), ONGC Ltd (2.61%), IOC Ltd (2.47%) and Gail India (1.35%).
The BSE IT index dropped by (2.27%) or 57.41 points to close at 2,476.28. Losers are HCL Tech (7.29%), Rolta India (5.54%), TCS Ltd (5.21%), Aptech Ltd (5.12%) and Oracle Fin (2.96%).
The BSE Reality index ended up by (2.14%) or 31.62 points at 1,509.27. Major gainers are Unitech Ltd (7.29%), Indiabull Real (2.87%), DLF Ltd (1.96%), Housing Dev (1.15%), Omaxe Ltd (0.96%) and Akruti City (0.92%).
The BSE FMCG index ended higher by (1.04%) or 19.62 points at 1,903.71 as ITC Ltd (2.45%), Britania In (0.91%), Colgate Palm (0.67%), Tata Tea Ltd (0.55%) and HUL (0.30%) ended in positive territory.
Weak global cues today and negative breadth in yesterday's trades led the market open lower today. The Sensex was down 304 points at the open and remained subdued, as investors booked profits after the recent gains. Auto, consumer durables and oil & gas stocks took the major beating. The index faltered under selling pressure by afternoon and slipped to the day's low of 8,467. While the market fluctuated sharply thereafter, the firm bullish sentiment and strong buying in heavyweights and realty stocks in the late trades helped the Sensex erase most of its losses. The Sensex finally ended the session by shedding 1.14% or 101 points at 8,739. Nifty slipped 25 points at 2,658.
The market breadth was negative, Of the 2,161 stocks that traded on the BSE, 1,297 stocks declined whereas 801 stocks advanced. Sixty three stocks ended unchanged. Most of the sectoral indices ended in the red. The BSE Auto dropped 3.04% followed by BSE CD (down 2.61%) and BSE Oil & Gas (down 2.45%). However, BSE Realty gained 2.14%, BSE FMCG advanced 1.04% and BSE Power (up 0.48%).
Heavyweights led the fall in the Sensex. Mahindra & Mahindra slipped by 8.21% at Rs249.80, Maruti Suzuki India slumped by 5.24% at Rs460.05, Tata Consultancy Services shed 5.21% at Rs434.55, Larsen & Toubro lost 3.46% at Rs679.20, Sterlite Industries was down 3.29% at Rs230.85 and Tata Motors tumbled by 3.28% at Rs128.40. Among the gainers Reliance Infrastructure jumped 5.37% at Rs492.70, Bharti Airtel surged 3.05% at Rs671, JP Associates shed 2.76% at Rs57.80, National Thermal Power Corporation fell by 2.46% at Rs160.05 and ITC was down 2.45% at Rs169.55, while DLF and Ranbaxy Laboratories ended with modest gains.
Over 2.68 crore shares of Unitech changed hands on the BSE followed by Suzlon Energy (1.16 crore shares), GVK Power & Infrastructure (1.13 crore shares), India Steel Works (75.02 lakh shares) and Reliance Natural Resources (53.18 lakh shares).
Reliance Industries registered a turnover of Rs260 crore on the BSE followed by State Bank of India (Rs176 crore), Reliance Infrastructure (Rs164 crore), Educomp Solutions (Rs127 crore) and Larsen & Toubro (Rs118 crore).
Television broadcaster Sun TV Network surged 14.32% to Rs 144.10, on reports that the founders bought peace with the family of the Tamil Nadu state chief minister. The scrip was the top gainer in BSE's A group. Sun TV Network, whose founding family has had political differences with the chief minister, gets most of its revenue from its Tamil channels and this move would help the firm, report suggested.
Stock broker India Infoline flared up 8.55% to Rs 40. It was the second biggest gainer in A group. The stock had risen 2.65% yesterday, 1 December 2008 after the company announced that it will buyback shares at a maximum Rs 43.20 per share. The maximum buyback amount of Rs 98.90 crore is 10% of the paid up capital and reserves of the company.
Electronics products maker Bharat Electronics moved up 7.76% to Rs 617. It was the third biggest gainer in A group.
Diversified Aditya Birla Nuvo rose 7.64% at Rs 540, extending gains for the seventh trading session in a row. It was the fourth biggest gainer in A group. The stock is up 21.97% in seven consecutive sessions from Rs 442.70 on 20 November 2008.
Diversified company Century Textiles & Industries rose 7.50% to Rs 129.70. It was the fifth biggest gainer in A group.
Higher US index futures which indicated a recovery in US stocks after Monday's (1 December 2008) sharp slide, reports that India is not contemplating a military action against Pakistan and hopes of a further cut in interest rates by the Reserve Bank of India (RBI) triggered a solid rebound on the domestic bourses in late trade. The BSE 30-share Sensex was down 100.63 points, or 1.14%, recovering close to 270 points from the day's low.
Earlier, concerns about the weakening domestic and global economy had pulled the Sensex down 372.24 points or 4.21% in mid-morning trade.
Volatility was high. After a weak opening triggered by weak global equities, the domestic bourses recovered from lower level after Australia's central bank slashed interest rates by a full percentage point and as higher US index futures indicated that the US markets will recover after Monday's (1 December 2008) sharp slide. But the recovery proved short-lived and the market weakened again in mid-morning trade on weak Asian stocks.
The market cut losses in early afternoon trade following Bank of Japan's (BoJ) plan to ease an acute squeeze in corporate funding in Japan. The market weakened again in afternoon trade on weak opening of European stocks. The market cut losses in mid-afternoon trade soon after Foreign Minister Pranab Mukherjee said the government is not considering military action in response to Islamist militant attacks in Mumbai that killed at least 183 people last week.
Tension between India and Pakistan have mounted after the Mumbai attacks. India has blamed Islamist militants based in Pakistan for the attacks. Meanwhile, Pakistan has proposed a joint investigating mechanism to probe Mumbai terror attacks, Pakistan foreign minister Shah Mahmood Qureshi said. Current situation does not allow blame-game or finger-pointing. Pakistan wants to continue constructive bilateral engagement, he added.
India has said it was awaiting Pakistan's response to a demarche issued in the wake of the Mumbai terror strikes, asking Islamabad to handover fugitives who have taken shelter in the neighbouring country.
There are expectations that the Reserve Bank of India (RBI) will cut rates further to shore up confidence battered by the global financial crisis and the series of attacks around the city. Lower interest rates may hep revive demand over the medium term.
Recent dismal economic data has added to the concerns about the weakening domestic economy. India's exports fell an annual 12.1% in October 2008 to $12.82 billion, the first year-on-year fall in nearly three years, as slowing output at home and weakening economies in key overseas markets slashed demand. The data released by the government during trading hours on Monday, 1 December 2008, showed.
On the same day, a survey showed India's manufacturing output shrank for the first time in 3-1/2 years in November 2008 as credit conditions tightened and the global financial crisis hurt sentiment and reduced demand. The ABN AMRO Bank purchasing managers' index (PMI), based on a survey of 500 companies, fell sharply to a seasonally adjusted 45.8 in November 2008, the first time it has contracted since the survey began in April 2005 and well below October 2008's 52.2.
A reading above 50 signals economic expansion while a figure below 50 suggests contraction.
Meanwhile, trading in US futures indicated the Dow could rise 168 points at the opening bell. The US index futures surged after it moved between positive and negative zone earlier in the day.
European shares turned positive by mid-morning on Tuesday as US stock index futures rose and energy companies gained after crude prices pared losses. The key benchmark indices in France, Germany and UK were up by between 1.35% to 2.48%. Earlier, the key benchmark indices in these three nations were were down by between 1.41% to 1.98%.
The BoJ today unveiled a new lending scheme and other measures to ease an acute squeeze in corporate funding. The central bank, which kept interest rates steady at 0.3% at the emergency meeting where it introduced the new measures, said it would accept a wider range of corporate debt as eligible collateral as the financial crisis cuts the access of Japanese companies to funding over the end of the year.
But the Nikkei 225 average in Japan was down 6,35% and Hong Kong's Hang Seng was down 4.98% as signs of a deepening global economic slump slammed stocks worldwide the previous day. Key benchmark indices in China, South Korea, Singapore and Taiwan were down by between 0.26% to 3.57%.
The Reserve Bank of Australia today cut its cash rate by a full percentage point to 4.25%, a bigger margin than the market had expected, and said the perilous state of the global economy left the door open for yet more cuts. Notwithstanding the rate cut, the All Ordinaries index in Australia was down 4.02%.
The US economy entered a recession a year ago this month, the panel that dates American business expansion said on Monday, 1 December 2008. Federal Reserve Chairman Ben Bernanke on Monday said the central bank is mulling extreme policy measures such as buying more government bonds to revive growth.
An array of reports on Monday, 1 December 2008, showing manufacturing activity around the world contracted at the sharpest pace in a decade or more put focus on the pain the credit crisis has inflicted on companies and households.
The BSE 30-share Sensex was down 100.63 points, or 1.14%, to 8,739.24. At the day's high of 8,785.04 hit in late trade, the Sensex fell 54.83 points. The Sensex sank 372.24 points at the day's low of 8,467.43 hit in mid-morning trade.
The S&P CNX Nifty was down 25.10 points, or 0.94%, to 2,657.80.
The market breadth, indicating the overall health of the market, was negative. On BSE, 957 shares declined as compared with 647 that rose. 57 shares remained unchanged.
The BSE clocked a turnover Rs 2595 crore today, lower than Rs 2,922.03 crore on Monday 1 December 2008.
As per the provisional figures on BSE, foreign institutional investors (FIIs) sold shares worth Rs 323.01 crore today, 2 December 2008 while domestic funds bought shares worth Rs 105.31 crore.
The barometer index BSE Sensex is down 11,547.75 points or 56.92% in the calendar year 2008 so far from its close of 20,286.99 on 31 December 2007. It is 12,467.53 points or 58.79% below its all-time high of 21,206.77 struck on 10 January 2008.
Nifty December 2008 futures were at 2654, at a discount of 3.80 points as compared to the spot closing of 2657.80. Turnover in NSE's futures & options (F&O) segment increased to Rs 33,471.48 crore from Rs 32,155.44 crore on Monday, 1 December 2008.
Sectoral indices on BSE displayed mixed trend. The BSE Realty index (up 2.14% to 1,509.27), the BSE FMCG index (up 1.04% to 1,903.7), the BSE Power index (up 0.48% to 1,577.63), the BSE HealthCare index (down 0.24% to 2,833.37), the BSE Teck index (down 0.64% to 1,961.11), the BSE Bankex (down 0.66% to 4,436.27), the BSE PSU index (down 0.98% to 4,450.06), the BSE Metal index (down 1.08% to 4,304.90) outperformed the Sensex.
The BSE Auto index (down 3.04% to 2,154.75), the BSE Consumer Durables index (down 2.61% to 1,668.75), the BSE Oil & Gas index (down 2.45% to 5,397.87), the BSE IT index (down 2.45% to 2,476.86), the BSE Capital Goods index (down 2.02% to 6,021.49), underperformed the Sensex.
India's largest private sector company by market capitalization and oil refiner Reliance Industries (RIL) slipped 3.1% to Rs 1,074..65 on concerns a global slowdown would hit demand for petrochemicals.
Oil exploration shares fell on slide in crude oil prices. India's largest oil exploration firm by revenue ONGC slipped 2.61% while Cairn India dipped 4.33%. Falling crude oil prices will affect the realization from crude sales.
PSU OMCs were mixed as fall in oil product sales in October 2008 offset lower crude oil prices. BPCL and Indian Oil Corporation fell by between 0.54% to 2.47%. While, HPCL rose 2%. The sale of industrial fuel and diesel declined 1.7% to 10.1 million tonnes in October 2008 over October 2007, government data showed on Monday 1 December 2008.
Crude oil fell to the lowest in more than three years on signs the US, the world's largest energy consumer, may be in the longest slump since World War II. Crude oil for January delivery dropped as much as $1.92, or 3.9%, to $47.36 a barrel on the New York Mercantile Exchange.
Real estate stocks rose on hopes further rate cuts by the Reserve Bank of India would spur demand which is mainly driven by finance. Realty majors, Indiabulls Real Estate, DLF, Omaxe and Unitech rose by between 1.96% to 7.29%.
Banking stocks fell on fears of rising defaults in a weakening economy. India's largest private sector bank by net profit ICICI Bank fell 0.71% as its American depository receipt (ADR) lost 13.48% on Monday, 1 December 2008. India's second largest private sector bank by net profit HDFC Bank slipped 1.56% as ADR skidded 11.15% on Monday. India's largest commercial bank State Bank of India (SBI) slipped 1.49%.
IT stocks slipped on US recession worries and a stronger rupee. India's third largest IT exporter by sales Satyam Computer Services skidded 1.19% as its American depository receipt (ADR) fell 7.23% on Monday 1 December 2008.
India's second largest IT exporter by sales Infosys declined 1.91%, as ADR slipped 6.12%. India's fourth largest IT exporter by sales Wipro shed 0.41% after it said it is seeing a few customers cancel contracts and more delaying or downsizing deals. Its ADR slumped 14.29%. India's largest IT exporter by sales Tata Consultancy Services fell 5.21%.
Indian IT firms derive a large part of revenue from exports to the United States. Meanwhile, the rupee strengthened after hitting a record low on Tuesday as the domestic stock market pared some losses on bargain buying and as positive US stock futures eased selling pressure. The partially convertible rupee was at 50.17/19 per dollar, off a record low of 50.65, and stronger than Monday's close of 50.30/32. A stronger rupee affects IT firms negatively as they earn most of their revenues from exports.
Auto stocks fell on dismal monthly sales figures by most auto firms. India's largest commercial vehicle maker by sales Tata Motors slipped 3.28% after it reported 30% decline in total vehicle sales to 32,696 units in November 2008 over November 2007.
India's largest tractor maker by sales Mahindra & Mahindra slumped 8.23% after total vehicle sales (excluding tractors) down 41% at 10,430 units in November 2008 over November 2007.
India's largest motorbike maker by sales Hero Honda Motors rose 0.11% after two-wheeler sales rose a marginal 0.5% to 2,89,426 units in November 2008 over November 2007.
India's largest scooter maker by sales Bajaj Auto fell 2.26% on 37% fall in two-wheelers sales to 1,32,421 units in November 2008 over November 2007.
India's largest car maker by sales Maruti Suzuki India declined 5.24% on 24.4% fall in sales to 52,711 units in November 2008 over November 2007. The company unveiled the monthly sales data during trading hours on Monday, 1 December 2008.
Capital goods stocks fell on worries a slowing economy will crimp orders. Larsen & Toubro, Thermax, Crompton Greaves, Suzlon Energy fell by between 3.46% to 7.38%. India's largest electric equipment maker by sales Bharat Heavy Electricals rose 0.33%, bucking the weak trend.
Metal stocks declined on worries a weakening domestic and global economy will hit demand. Hindalco Industries, National Aluminum Company, Tata Steel, JSW Steel, Sterlite Industries, Steel Authority of India fell by between 0.09% to 3.3%.
Consumer durables stocks fell on worries of slackening demand in a slowing economy. Videocon Indusries, Blue Star and Titan Industries fell by between 1.96% to 4.41%.
Power stocks fell on recent reports that banks are wary of large exposure to the power sector. Tata Power Company, , Reliance Power, Power Grid Corporation of India fell by between 0.29% to 1.45%. However Reliance Infrastructure rose 1.15%.
India's largest telecom services provider by sales Bharti Airtel gained 3.05% after the global rating agency Fitch upgraded the long-term foreign currency issuer default rating.
Airline stocks slipped on fears of likely cancellation of tickets by travellers in the aftermath of the terror attack in Mumbai. Kingfisher Airlines, Jet Airways and SpiceJet were down by 1.54% to 4.07%.
Four firms in which Citigroup held stake fell on reports the US bank is offloading shares in these companies to raise money to offset its sub-prime related losses. Polaris Software Lab, Northgate Technologies, Tanla Solutions and Havells India fell by between 1.62% to 5.29%.
Hotel shares slipped on fears of likely cancellation of bookings from foreign tourists in the aftermath of the terror attack in Mumbai. Indian Hotels Company, EIH, and Hotel Leela Ventures were down by 1.66% to 7.01%.
Sun TV Network surged 14.32% on reports that the promoters bought peace with the Karunanidhi family of the Tamil Nadu state chief minister and DMK patriarch M Karunanidhi.
Sandesh rose 0.21% on a decision to buy back own shares.
Supreme Industries jumped 2.82% snapping three sessions of losses, after the company said its buyback offer will open on 8 December 2008.
Dr Reddys Laboratories surged 4.35% extending gains for the fourth day in a row, after the company launched GlaxoSmithKline's Imitrex tablets in the US market.
US stocks slumped on Monday, 1 December 2008. The Dow Jones Industrial Average 679.95 points or 7.7% to 8,149.09. The S&P 500 index lost 80.03 points or 8.93% at 816.21. The tech laden Nasdaq Composite index plunged 137.50 points or 8.95% at 1,398.07.
We recommend a sell in HCL Technologies for investors with a short-term horizon. It is apparent from the charts of HCL Technologies that it has been on a medium-term downtrend from its September peak of Rs 261, forming lower peaks and lower troughs. Moreover, the long-term trend also is downwards for the stock from its June 2007 high of Rs 365.
The downtrend has accelerated this September. The stock breached its 21- and 50-day moving averages by tumbling in late September and it is trading well below them now. The daily relative strength index (RSI) has re-entered into the bearish zone and weekly RSI is featuring in this zone.
The weekly moving average convergence and divergence is steadily declining in line with the stock price. Considering that the medium-term down trendline continues to be intact, we are bearish on the stock from a short-term perspective.
We expect the stock to decline further until it hits our price target of Rs 120 in the approaching trading sessions. Traders with short-term perspective can sell the stock while maintaining a stop-loss at Rs 143.
Foreign Institutional Investors (FIIs) turned net buyers in equities worth Rs 4,194 million on November 28. They bought equities worth Rs 21,576 million and sold equities worth Rs 17,382 million.
FIIs turned net buyers in the debt segment worth Rs 2,858 million on November 28. They bought debt worth Rs 2,858 million but did not sell any debt.
FIIs turned net sellers in derivatives worth Rs 3,990.7 million on November 28. They bought derivatives worth Rs 359,311 million and sold derivatives worth Rs 399,218 million.
Asian stocks tumbled, extending a global rout, as signs the global recession is deepening drove down oil prices and heightened concerns over company earnings.
JFE Holdings slumped 8% on declines in US and European manufacturing. Honda Motor lost almost 8% as domestic sales fell.
Japanese benchmark index Nikkei declined 385.04 points, or 4.59%, to trade at 8,012.18.
Hong Kong`s Hang Seng index fell 735.82 points, or 5.22%, to trade at 13,373.02.
China`s Shanghai Composite slipped 25.69 points, or 1.36%, to trade at 1,868.93.
Taiwan`s Taiex index declined 172.82 points, or 3.82%, to trade at 4,345.61.
South Korea`s Kospi index decreased 27.98 points, or 2.64%, to trade at 1,030.64.
Singapore`s Straits Times slid 31.59 points, or 1.87%, to trade at 1,658.64. (7.48 a.m., IST).
Weak European markets, fall in US index futures and dismal economic data which added to the concerns about the weakening domestic and global economy pulled the domestic bourses to intraday low in late trade. The BSE 30-share Sensex lost 252.85 points, or 2.78%, shedding 486.81 points from the day's high. The market reversed earlier strong gains in the second half of the trading session.
Volatility was high. After an initial surge triggered by a reshuffle of key government posts on Sunday, 30 November 2008, the market pared gains in mid-morning trade as a survey showed fall in India's manufacturing output in the month just gone by. The market firmed up again in early afternoon trade but it shortly pared gains. From that low, the market once again firm up in afternoon trade.
Data showing fall in exports in October 2008, weak European markets and a further fall in US index futures pulled the domestic bourses lower in mid-afternoon trade. The Sensex swung 523.34 points between the day's high and low.
Exports fell an annual 12.1% in October 2008 to $12.82 billion, the first year-on-year fall in nearly three years, as slowing output at home and weakening economies in key overseas markets slashed demand. The data hit the market at about 14:20 IST.
Meanwhile, a survey showed India's manufacturing output shrank for the first time in 3-1/2 years in November 2008 as credit conditions tightened and the global financial crisis hurt sentiment and reduced demand. The ABN AMRO Bank purchasing managers' index (PMI), based on a survey of 500 companies, fell sharply to a seasonally adjusted 45.8 in November 2008, the first time it has contracted since the survey began in April 2005 and well below October 2008's 52.2.
A reading above 50 signals economic expansion while a figure below 50 suggests contraction.
Trading in US index futures indicated the Dow could fall 158 points at the opening bell on grim manufacturing figures from China. China's manufacturing industry slumped in November 2008 as new orders, especially from abroad, tumbled in the face of deepening economic gloom and financial uncertainty, two separate surveys on Monday, 1 December 2008, showed.
Asian markets were mixed. Japan's Nikkei average fell 1.35% as global recession fears prompted investors to book profits after last week's rally, with exporters such as Toyota Motor Corp slipping on a firmer yen. Key benchmark indices in South korea and Singapore were down by between 1.58% to 1.62%. But key benchmark indices in China, Hong Kong and Taiwan were up by between 1.25% to 1.59%.
European shares extended losses on Monday, 1 December 2008, after a strong rally last week, with banks and miners falling on lower prices. Key benchmark indices in France, Germany and UK were down by between 2.29% to 2.82%.
Closer home, Prime Minister (PM) Dr Manmohan Singh took charge of the finance portfolio after P Chidambaram was named the home minister on Sunday, 30 November 2008, to replace Shivraj Patil, who resigned over the Mumbai terror attacks. Singh was the architect of India's economic reforms in the 1990s.
The PM, the architect of early 1990s economic reforms, holding additional charge of the finance ministry will also be perceived as a positive sign by the stock markets in terms of ensuring continuity and signaling a pro-reform image even though just a few months are left as parliamentary elections must be held before May 2009.
There are expectations that the Reserve Bank of India (RBI) will cut rates further to shore up confidence battered by the global financial crisis and the series of attacks around the city. There has been criticism in recent weeks that a series of policy measures of the RBI were being driven by the finance ministry with Chidambaram in charge of the ministry. But now with the Prime Minister himself a former RBI governor, holding additional charge of the finance ministry, the prospects of the governor coming into his own are far greater.
Meanwhile, the National Security Guard (NSG) on Saturday, 29 November 2008, took control over Taj Hotel at the Gateway of India, in Mumbai, ending a nearly 60-hour operation to flush out terrorists.
The BSE 30-share Sensex was down 252.85 points, or 2.78%, to 8.839.87. At the day's high of 9,326.68 hit in mid-morning trade, the Sensex gained 233.96 points. The Sensex fell 289.38 points at the day's low of 8,803.34 hit in late trade.
The S&P CNX Nifty was fell 72.20 points, or 2.62%, to 2,682.90.
The BSE clocked a turnover of Rs 2,914 crore today as compared to a turnover of Rs 2,396.44 crore on Friday, 28 November 2008.
Nifty December 2008 futures were at 2680, at a discount of 2.90 points as compared to the spot closing of 2682.90. Turnover in NSE's futures & options (F&O) segment was Rs 32,155.44 crore, lower than Rs 44,951.66 crore on Friday, 28 November 2008.
The barometer index BSE Sensex is down 11,447.12 points or 56.42% in the calendar year 2008 so far from its close of 20,286.99 on 31 December 2007. It is 12,366.90 points or 58.31% below its all-time high of 21,206.77 struck on 10 January 2008.
The market breadth, indicating the overall health of the market, turned negative from the strong breadth earlier in the day. On BSE, 970 shares rose as compared with 1,160 that declined. 65 shares remained unchanged.
Among the 30-member Sensex pack, 24 stocks fell while the rest rose.
As per the provisional figures on BSE, foreign institutional investors (FIIs) bought shares worth Rs 28.64 crore today,1 December 2008 and domestic funds bought shares worth Rs 49.19 crore.
Sectoral indices on BSE displayed mixed trend. The BSE Realty index (down 5.34% to 1,477.65), the BSE Auto index (down 4.64% to 2,222.33), the BSE Consumer Durables index (down 4.47% to 1,713.39), the Bankex (down 3.87% to 4,465.82), the BSE Capital Goods index (down 3.79% to 6,145.41), the BSE Power index (down 3.78% to 1,570.06) underperformed the Sensex.
The BSE Metal index (down 0.72% to 4,351.87), the BSE IT index (down 0.99% to 2,533.69), the BSE Teck index (down 1.4% to 1,973.70), the BSE Oil & Gas index (down 1.51% to 5,533.37), the BSE HealthCare index (down 1.65% to 2,840.24), the BSE PSU index (down 2% to 4,494.24),the BSE FMCG index (down 2.71% to 1,884.09) outperformed the Sensex.
India's largest private sector company by market capitalization and oil refiner Reliance Industries (RIL) fell 1.99% to Rs 1,109.05 on concerns a global slowdown would hit demand for petrochemicals. The stock came off day's high of Rs 1,176.80.
India's largest copper maker by sales Sterlite Industries India rose 0.74% after a block deal of three lakh shares was executed on BSE at Rs 243.70 a share.
Auto stocks fell a weak outlook for the sector. Maruti Suzuki India extended losses falling 9.4% on 24.4% fall in vehicle sales to 52,711 units in November 2008 over November 2007.
India's largest commercial vehicle maker by sales Tata Motors fell 2.64% on plan to raise deposits from public. Tata Motors will pay as much as 11% annual interest on deposits held for three years, the company said today in a newspaper advertisement.
Mahindra & Mahindra, Hero Honda Motor fell by between 3.37% to 5.69%. India's largest scooter maker by sales Bajaj Auto lost 4.33% as the total vehicle sales fell 32% to 1,59,747 units in November 2008 over November 2007.
High interest rates and sluggish consumer spending have dented demand for automobiles, including for trucks, motorcycles and scooters.
Real estate stocks declined on a recent brokerage report that realty prices are set to correct by 30% in the coming months given the general slowdown in the economy. Realty majors, Indiabulls Real Estate, DLF, Omaxe slipped by between 1.99% to 9.96%.
Banking stocks slipped after early gains as worries of rising defaults offset hopes of a further cut in interest rates by the RBI. India's largest commercial bank State Bank of India (SBI) fell 2.84% to Rs 1,055.95 off the day's high of Rs 1,125.85. India's largest private sector bank by net profit ICICI Bank fell 7.21% to Rs 326.05, off the day's high of Rs 364.50. The ICICI Bank American depository receipt (ADR) gained 7.8% on Friday, 28 November 2008.
India's second largest private sector bank by net profit HDFC Bank fell 2.29% even as ADR added 5.54% on Friday.
India Infoline rose 2.65% on a decision to buyback own shares at a price not exceeding Rs 43.20 a share, a 17.23% premium to the ruling market price
IT stocks slipped on US recession worries offset a weaker rupee and rise in ADRs on Friday, 28 November 2008. India's third largest IT exporter by sales Satyam Computer Services fell 2.94% even as its American depository receipt (ADR) rose 0.87% on Friday.
India's second largest IT exporter by sales Infosys slipped 0.59% even as ADR gained 3.46%. India's fourth largest IT exporter by sales Wipro fell 3.9% even as ADR rose 1.2%. However, India's largest IT exporter by sales Tata Consultancy Services rose 1.06%.
The Indian rupee weakened in afternoon trade on Monday as sharp losses in the share market raised concerns of further capital outflows, but likely central bank intervention prevented a further fall. The partially convertible rupee was at 50.33/36 per dollar, 0.5% weaker than Friday's close of 50.09/12. It had hit record low of 50.60 on Nov. 20..A weaker rupee augurs well for the sector as IT firms earn most of their revenues from exports.
Cement stocks were mixed on reports cement manufacturers have urged the government to rationalise the tax structure for the industry to help achieve a strong economic growth. ACC, Ultratech Cement, Birla Corporation of India fell by between 0.15% to 1.24%. Ambuja Cements and Grasim Industries rose by between 0.48% to 175%.
Metal stocks declined on worries a weakening domestic and global economy will hit demand. Hindalco Industries, Steel Authority of India fell by between 1.73% to 4.27%.
But India's largest steel maker by sales Tata Steel rose 1.69% on reports the domestic steel industry is all set to get more help from the government. The centre, which already imposed import restrictions on a number of steel products, has now initiated anti-dumping investigations on imports of a wide range of stainless steel and steel items from countries including China, Japan, South Korea, the US and the EU.
Capital goods stocks fell on worries a slowing economy will crimp orders. Bharat Heavy Electricals, Larsen & Toubro and Suzlon Energy fell by between 3.22% to 6.71%.
Airline stocks were mixed after state-run oil companies on Saturday, 29 November 2008, again cut Aviation Turbine Fuel (ATF) prices by Rs 2,480 per kilolitre, effective 1 December 2008. Jet Airways fell by 1.24%, Kingfisher Airlines was flat at Rs 27.50, and SpiceJet rose by 0.65%. Fall in ATF prices would improve the bottomline of airliners as jet fuel forms more than 50% of the operating cost.
Hospitality shares were mixed after the two main hotels -- Taj Mahal Hotel and Oberoi-Trident in Mumbai were hit by the last week's terror attacks. Indian Hotels Company, which operates the Taj group of hotels, fell 0.62% whereas EIH, which operators the Oberio group of hotels, rose 2.05%.
Unitech clocked the highest volume of 2.51 crore shares on BSE. Suzlon Energy (94.07 lakh shares), GVK Power & Infrastructure (92.55 lakh shares), Reliance Natural Resources (63.96 lakh shares) and ITC (56.21 lakh shares) were the other volume toppers in that order.
Reliance Industries clocked the highest turnover of Rs 265.01 crore on BSE. State Bank of India (Rs 204.92 crore), Educomp Solutions (Rs 165.18 crore), Reliaence Capital (Rs 129.39 crore) and ICICI Bank (Rs 114.98 crore) were the other turnover toppers in that order.
Rajshree Sugars & Chemicals rose 1.21% on reports New York-based Bunge is in talks with the company to pick up a substantial stake.
Zicom Electronic Security Systems was locked at upper limit of 5% at Rs 49.20 on BSE on hopes the recent terror attack in Mumbai may boost demand for security products across India.
Arvind soared 1.65% after its board approved demerging its brands and retail business divisions into separate units.
Astra Microwave Products surged 4.4% on BSE, on bagging an order worth Rs 57.31 crore.