Monday, April 20, 2009
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
20/4/2009 523207 CAMLIN LIMIT SURYA CORPORATION B 844036 9.98
20/4/2009 523207 CAMLIN LIMIT RAJESH NANDU S 619000 9.98
20/4/2009 531137 GEMSTONE INV ASHA LALIT SHAH B 20000 22.00
20/4/2009 500540 PREMIER LTD SURYA CORPORATION B 398822 46.25
20/4/2009 500540 PREMIER LTD RAJESH NANDU S 275038 46.25
20/4/2009 523523 RAINBOW PAPE RADHESHYAM GOENKA HUF B 83000 48.74
20/4/2009 521034 SOMA TEX IND BASMATI SECURITIES PVT. LTD. B 293164 9.87
20/4/2009 521034 SOMA TEX IND BASMATI SECURITIES PVT. LTD S 205170 9.89
20/4/2009 512048 SPLASH MEDIA AMIT H PATEL HUF B 11851 73.30
20/4/2009 512048 SPLASH MEDIA MARIGOLD INVESTRADE PRIVATE LIMITED S 16594 74.56
20/4/2009 531364 ZENU INFOTEC G K TRADING PVT LTD B 49145 6.47
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
20-APR-2009,ALOKTEXT,Alok Industries Limited,HI GROWTH CORPORATE SERVICES PRIVATE LIMITED,BUY,1060053,15.93,-
20-APR-2009,ALOKTEXT,Alok Industries Limited,MATHRAN SECURITIES PRIVATE LIMITED,BUY,642137,15.99,-
20-APR-2009,EDUCOMP,Educomp Solutions Limited,C D INTEGRATED SERVICES LTD,BUY,132628,2317.73,-
20-APR-2009,GLORY,Glory Polyfilms Limited,SRI SALASAR SUPPLIER PVT LTD,BUY,130000,27.75,-
20-APR-2009,HDIL,Housing Development and I,GENUINE STOCK BROKERS PVT LTD,BUY,2485676,130.38,-
20-APR-2009,IFCI,IFCI Ltd.,CLEAN FINANCE & INVESTMENT LTD,BUY,3891679,24.58,-
20-APR-2009,POLARIS,Polaris Software Lab Ltd,NIRSHILP SECURITIES PVT. LTD.,BUY,603460,65.76,-
20-APR-2009,RIIL,Reliance Indl Infra Ltd,C D INTEGRATED SERVICES LTD,BUY,99506,760.30,-
20-APR-2009,RIIL,Reliance Indl Infra Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,98168,756.08,-
20-APR-2009,SHIV-VANI,Shiv-Vani Oil & Gas Explo,RELIANCE CAPITAL TRUSTEE CO LTD AC REL REGULAR SAV FUND EQ,BUY,450000,127.00,-
20-APR-2009,SHIV-VANI,Shiv-Vani Oil & Gas Explo,RELIANCE CAPITAL TRUSTEE CO LTD AC RELIANCE GROWTH FUND,BUY,673953,127.00,-
20-APR-2009,ALOKTEXT,Alok Industries Limited,HI GROWTH CORPORATE SERVICES PRIVATE LIMITED,SELL,1060053,15.96,-
20-APR-2009,ALOKTEXT,Alok Industries Limited,MATHRAN SECURITIES PRIVATE LIMITED,SELL,1528217,15.86,-
20-APR-2009,BAJAJHIND,Bajaj Hindusthan Ltd,MORGAN STANLEY MAURITIUS COMPANY LTD,SELL,1107238,74.21,-
20-APR-2009,EDUCOMP,Educomp Solutions Limited,C D INTEGRATED SERVICES LTD,SELL,132628,2318.87,-
20-APR-2009,HDIL,Housing Development and I,GENUINE STOCK BROKERS PVT LTD,SELL,2485676,130.41,-
20-APR-2009,IFCI,IFCI Ltd.,CLEAN FINANCE & INVESTMENT LTD,SELL,3891679,24.60,-
20-APR-2009,POLARIS,Polaris Software Lab Ltd,NIRSHILP SECURITIES PVT. LTD.,SELL,457860,65.06,-
20-APR-2009,RIIL,Reliance Indl Infra Ltd,C D INTEGRATED SERVICES LTD,SELL,99506,760.70,-
20-APR-2009,RIIL,Reliance Indl Infra Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,98168,757.08,-
20-APR-2009,SHIV-VANI,Shiv-Vani Oil & Gas Explo,SANSAR SPECIAL OPPORTUNITIES MAURITIUS LTD,SELL,1076819,127.00,-
The Indian market lost all its initial strength and ended below the previous closing due to the sustained selling pressure in key stocks during second half of the trading session. Closely observed corporate earnings along with weak European markets took huge strike on the bourses. Investors were clueless regarding the outcome of RBI’s monetary policy review scheduled on Tuesday (21st April).
The market belled the day with slight gains following mixed cues from the markets all over the world. On Friday, the US stock markets closed flat but reported 6th successive week gain. The domestic benchmark indices rallied sharply in succeeding trade on continuous buying momentum. However, market touched the dotted line soon after start and managed to recover again on some buying support from the foreign funds. Further market came off the day’s high and started losing ground during final trading hours on profit taking over the counters. To conclude, stocks closed marginally lower amid volatility on weak US index futures and lower European markets. BSE Sensex fell below 11,000 level and NSE Nifty below 3,400. From sectoral front, Bank, FMCG, Pharma, IT and Oil & Gas stocks contributed to put pressure on the market. However, Metal, Consumer Durables, Capital Goods, Reality and Power stocks remained in limelight as witnessed most of the buying from these baskets. Mid Cap and Small Cap stocks were also on buyers’ radar.
Among the Sensex pack 19 stocks ended in red territory and 11 in green. The market breadth indicating the overall health of the market remained positive as 1498 stocks closed in green while 1032 stocks closed in red and 85 stocks remained unchanged in BSE.
The BSE Sensex closed lower by 43.59 points at 10,979.50 and NSE Nifty ended down by 7.30 points at 3,377.10. BSE Mid Caps and Small Caps closed with gains of 56.31 and 59.59 points at 3,528.91 and 4,011.15 respectively. The BSE Sensex touched intraday high of 11,209.66 and intraday low of 10,863.28.
Losers from the BSE Sensex pack are ICICI Bank (3.38%), NTPC Ltd (3.37%), Hindalco (2.46%), Grasim Indus (2.42%), Tata Power (2.39%), TCS Ltd (2.21%), HDFC (2.16%) and ITC Ltd (1.94%).
Gainers from the BSE Sensex pack are Reliance Infra (5.83%), JP Associated (5.02%), HDFC (2.25%), Tata Motors (4.15%), Sterlite Indus (2.81%) and L&T Ltd (2.01%).
On the global markets front the Asian markets which opened before the Indian market, ended mostly higher ahead of key earnings reports from leading U.S. companies. Among the hundreds of U.S. companies due to report are Bank of America, Coca-Cola, Microsoft, IBM and McDonald''s. Shanghai Composite, Hang Seng, Nikkei 225 and Seoul Composite ended higher by 53.52, 149.64, 17.17 and 7.39 points at 2,557.45, 15,750.91, 8,924.75 and 1,336.39 respectively. However, Straits Times index lost 21.71 at 1,874.85.
European markets which opened after the Indian market are trading in red. In Frankfurt the DAX index is trading lower by 110.43 points at 4,566.41 and in London FTSE 100 is trading down by 42.92 points at 4,049.88.
The BSE Bank index dropped by (0.96%) or 52.88 points at 5,473.45 on concerns of rising defaults in a weakening economy. Scrips that lost are ICICI Bank (3.38%), Punjab National Bank (1.35%), Oriental Bank (1.28%), Canara Bank (1.14%) and Bank of Baroda (0.81%).
The BSE FMCG index lost (0.75%) or 15.66 points to close at 2,071.83. Losers are ITC Ltd (1.94%), United Brew (1.54%) and HUL (0.08%).
The BSE Pharma index dropped by (0.25%) or 7.56 points to close at 3,011.99. Main losers are Cipla Ltd (2.98%), Wockhardt Ltd (2.72%), Dishman Pharma (2.17%), Sun Pharma (1.90%) and Sunpha Adv (1.51%).
The BSE Metal advanced by (2.53%) or 171.53 points at 6,962.29 as steel industry experienced a smart recovery in 4QFY09 on account of a revival of demand from housing, infrastructure and automobile sectors. Gainers are Jindal Steel (8.50%), Gujarat NRE C (6.98%), Jai Corp Ltd (5%), Sesa Goa Ltd (4.96%) and Sterlite Industries (2.81%).
The BSE Capital Goods index also ended higher by (1.79%) or 140.09 points at 7,982.24. ABB Ltd (8.02%), Siemens Ltd (7.10%), Alstom Proje (5.41%), Areva (4.46%) and Kalpat Power T (4.02%) ended in positive territory.
The BSE Consumer Durable stocks advanced by (1.65%) or 30.28 points to close at 1,863.50. Major gainers are Blue Star L (3.56%), Videocon Ind (1.6%), Titan Ind (1.24%) and Rajesh Export (0.97%).
Bajaj Finserv surged 9.24% on reports the company and German insurer Allianz are expected to announce the formation of a joint venture asset management company today, 20 April 2009.
Tata Communications gained 4.37%. TV5MONDE has selected Tata Communications'' LiveBroadcast service to distribute key events in real-time via the Internet. LiveBroadcast, a high-quality, flash-based streaming service, will provide TV5 with the necessary resources and scalability to support their quickly growing audience and support the constant and dynamic flow of content.
Larsen & Toubro advanced by 2.01% as the company expects its order inflow to grow by 25-35% in the year ending March 2010.
Cipla Ltd lost 2.98% to Rs. 222.65 on reports the US Food and Drug Administration has found nine deviations in manufacturing process during a recent inspection of the company''s Bangalore plant.
Punjab National ended lower by 1.35%. The bank in India launched its online trading services in association with Networth Stock Broking to provide state-of-the-art online trading services to its customers on April 13, 2009.
Indian Bank ended down by 0.61%. The advances book of Indian Bank shot up 30 per cent last year to stand at Rs 39,000 crore at the end of March 2008.
Key benchmark indices edged lower in what was a highly volatile trading session as investors resorted to profit taking after a recent sharp surge in share prices. The barometer index BSE Sensex fell below the psychological 11,000 mark. Volatility in banking stocks and index heavyweight Reliance Industries caused volatility in the key benchmark indices. The Sensex lost 43.59 points or 0.4%, off close to 230 points from the day's high and up close to 115 points from the day's low.
Volatility was high with investor focus on the March 2009 quarterly earnings and the Reserve bank of India's policy meeting on Tuesday, 21 April 2009, to review interest rates. With headline inflation at record low, analysts expect the central bank to cut interest rates further to boost slowing economy. If not tomorrow, rate cuts may come later. Wholesale prices rose 0.18% in the week to 4 April 2009 from a year earlier after rising 0.26% the previous week, government data showed Thursday, 16 April 2009.
After opening on a firm note, the key benchmark indices slipped into the red for a brief period and they instantly bounced back on expectations of a further easing of the monetary policy by the central bank tomorrow, 21 April 2009. Market pared gains after hitting day's high in mid-morning trade. Volatility ruled the roost later. The market weakened in mid-afternoon trade with the Sensex falling below the 11,000 level. The market cut losses in late trade with the Sensex swinging near the 11,000 level.
The central bank has cut its main short-term lending rate or repo rate by 400 basis points to 5% in five moves since October 2008.
>The market sentiment remains firm due to sustained buying by foreign funds after heavy outflows in the first two months of calendar 2009. Foreign institutional investors (FIIs) were net buyers worth Rs 789.10 crore on 17 April 2009. FII inflow in April 2009 totaled Rs 4,277.20 crore (till 17 April 2009).
Meanwhile, a high-powered panel is reportedly thrashing out a mega economic stimulus package with a kitty of Rs 50,000 crore, which may be part of the first Budget of the next government at the centre to be presented before 25 June 2009. The government had earlier announced two fiscal packages in addition to the Indian central bank Reserve Bank of India (RBI)'s monetary interventions to boost the economy. The earlier fiscal measures also liberalised various rules and regulations to increase liquidity and give a boost to spending.
A good news for the economy is forecast of a near normal monsoon by the India Meteorological Department (IMD) on 17 April 2009. The IMD said rainfall in the June-September 2009 monsoon season was expected to be 96% of the long-term average. The outlook is among the nation's most widely watched indicator as monsoon rains are a major influence on output of key crops, economic activity and also affects sentiment in the country's financial markets.
European markets which opened after Indian market fell after six straight weeks of advances. France's CAC 40, UK's FTSE 100 and Germany's DAX fell by between 0.94% to 2.54%.
Angel Gurria, secretary-general of the Organisation for Economic Cooperation and Development (OECD) today, 20 April 2009, said governments around the world may have to do more to pull the world economy out of its worst recession in eight decades. He said that trillions of dollars committed to stimulus packages are starting to work.
Asian stocks edged up today, holding near a six-month peak struck last week and withstanding an early bout of profit-taking as investors eyed a slew of corporate earnings reports around the world this week. Stocks rose in China and Hong Kong after China's Premier Wen Jiabao said over the weekend that the stimulus plan was producing 'better-than-expected' results. Key benchmark indices in China and Hong Kong, Singapore, Taiwan, South Korea, and Japan were up by between 0.19% and 2.14%. But South Korea's Straits Times index fell 1.14%.
Trading in US index futures indicated the Dow could fall 109 points at the opening bell on Monday 20 April 2009. US index futures declined on concern reports this week may indicate that any economic recovery in the US, the world's biggest energy user, will be slow to develop. A US Commerce Department report on 24 April 2009 may show orders for durable goods such as refrigerators and computers fell for the fifth time in six months in March 2009. Bank of America reports earnings on Monday, 20 April 2009.
Meanwhile, a survey on Monday showed capital spending by US firms was improving and at the same time the pace of lay-offs was slowing slightly.
The BSE 30-share Sensex was down 43.59 points or 0.4% to 10,979.50. At the day's high of 11,209.66, the Sensex rose 186.57 points in mid-morning trade. At the day's low of 10,863.28, the Sensex fell 159.81 points in late trade.
The S&P CNX Nifty was down 7.30 points or 0.22% to 3,377.10.
The BSE clocked a turnover of Rs 4,727 crore, lower than Rs 5,569.51 crore on Friday, 17 April 2009.
Nifty April 2009 futures were at 3385.35, at a premium of 8.25 points as compared to the spot closing of 3377.10. Turnover in NSE's futures & options (F&O) segment was Rs 64,896.29 crore, much lower than Rs 75,438.49 crore on Friday, 17 April 2009.
The BSE Mid-Cap index rose 1.62% to 3,528.91. The BSE Small-Cap index rose 1.51% to 4,011.15. Both the indices outperformed the Sensex.
The BSE Mid-cap index has gained 975.42 points or 38.19% from a low of 2,553.49 on 9 March 2009. The BSE Small-Cap index has gained 1,144.47 points or 39.92% from 2,866.68 on 9 March 2009.
The BSE Metal index (up 2.53%), the BSE Capital Goods index (up 1.79%), the BSE Consumer Durables index (up 1.65%), the BSE Realty index (up 1.52%), the BSE Power index (up 1.33%), the BSE Auto index (down 0.68%), the BSE TECk index (up 0.64%), the BSE PSU index (down 0.04%), the BSE Oil & Gas index (down 0.05%), the BSE IT index (down 0.05%), the BSE Healthcare index (down 0.25%) outperfomed the Sensex.
The BSE FMCG index (down 0.75%), the BSE Bankex (down 0.96%), underperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1,509 stocks advanced as compared to 1,059 that declined. A total of 56 shares remained unchanged.
From the 30 share Sensex pack 19 stocks fell while rest gained.
India's largest private sector firm by market capitalisation and oil refiner Reliance Industries (RIL) fell 0.22% to 1,713.70. The stock was volatile. It hit a high of Rs 1,752.90 and a low of Rs 1,687.60 . Reliance Industries has announced the suspension of its export oriented unit (EOU) status for its oil & gas refinery in Jamnagar as the company plans to operate as a non-EOU refinery with effect from 16th April 2009 to cater to the increasing demand of petroleum products in the country.
PSU OMCs rose as crude oil fell on concern inventories will rise as the global recession saps demand for fuels in the US, the world's biggest energy user. BPCL, HPCL and Indian Oil Corporation rose by between 0.06% to 1.01%. Crude oil for May delivery fell as much as $1.03, or 2.1%, to $49.30 a barrel in electronic trading on the New York Mercantile Exchange. Lower oil prices will reduce under-recoveries at the state-run oil firms on domestic sale of petrol, diesel, LPG and kerosene at a controlled price.
Shares of FMCG companies fell as recovering equity market forced investors to dump these so called defensive stocks. United Spirits, United Breweries, ITC, Hindustan Unilever fell by between 0.01% to 1.94%.
Outsourcing focussed IT firms fell in volatile trade on fears a weak global economy would cut the amount firms spent on technology. India's third largest software services exporter, Wipro fell 0.26% to Rs 273.60. It hit a high of Rs 281.45 and a low of Rs 267.50. Its ADR rose 1.8% on Friday.
India's largest software services exporter by sales TCS fell 2.21% to Rs 560.40 ahead of its Q4 March 2009 result today. It hit a high of Rs 582 and a low of Rs 552.60. A total of nine brokerages expect a between 7.6% fall to 13% growth in Tata Consultancy Services (TCS)' net profit at between Rs 1249.60 crore to Rs 1528 crore in Q4 March 2009 over Q3 December 2008. The nine brokerages expect a between a 1.44% fall to a 3.1% rise in sales to between Rs 7171.80 crore to Rs 7502.80 crore in Q4 March 2009 over Q3 December 2008.
India's second largest software services exporter Infosys Technologies was almost unchanged at Rs 1,392.25. It hit a high of Rs 1,409.70 and a low of Rs 1,373.20. Its ADR rose 1.75% on Friday. But India's fifth largest IT firm by sales HCL Technologies rose 6.23%.
Polaris Software rose 12.91% on reporting 78.52% surge in net profit to Rs 130.71 crore in the year ended March 2009 over the year ended March 2008 on a consolidated basis.
The Indian rupee eased for a third consecutive session on Monday, tracking the dollar's strength against some currencies and weak Asian stock markets. The partially convertible rupee was at 50.33 per dollar, below Friday 17 April 2009 close of 49.87/88. A weak rupee boosts revenues of IT firms in rupee terms as IT companies earn a lion's share of revenue from exports.
Banking stocks fell in volatile trade on fears of rising defaults in a weakening economy. India's second largest private sector bank by operating income HDFC Bank fell 0.12% to Rs 1,066.90. It hit a high of Rs 1,098 and a low of Rs 1,049 . Its American depository receipt (ADR) rose 0.32% on Friday 17 April 2009. Its advance tax payment rose 10% to Rs 275 crore in Q4 March 2009 over Q4 March 2008.
India's largest private sector bank by net profit ICICI Bank fell 3.38% to Rs 426.55. It hit a high of Rs 455.60 and a low of Rs 423.15. Its American depository receipts (ADR) rose 0.91% on Friday, 17 April 2009. ICICI Bank's advance tax payment remained unchanged at Rs 250 crore in Q4 March 2009 when compared to Q4 March 2008.
India's biggest dedicated housing finance firm by operating income HDFC fell 2.16% to Rs 1,754.05, off the day's high of Rs 1,811.
India's largest bank in terms of assets and branch network State Bank of India fell 0.8% to Rs 1,295.95. It hit a high of Rs 1,340 and a low of Rs 1,299.25. Its advance tax payment jumped 27.64% to Rs 1810 crore in Q4 March 2009 over Q4 March 2008.
Meanwhile, ten-year bonds rose for a fourth day on Monday, 20 April 2009, on speculation the central bank will lower interest rates tomorrow, when it announces monetary policy for the fiscal year through March 2010. The yield on the 6.05% note due February 2019 dropped two basis points to 6.39% as of 11:37 IST. Bond yields and bond prices are inversely related.
It may be recalled that many banks had reported robust Q3 December 2008 results on the back of treasury gains as bond prices soared. Bond yields and bond prices are inversely related.
Metal shares rose on talks the worst may be over for the global economy. Tata Steel, Steel Authority of India, Sterlite Industries rose by between 1.36% to 2.81%.
India's largest engineering and construction firm by sales Larsen & Toubro extended gains for the second straight day, rising 2.01% to Rs 883.90 as the company expects its order inflow to grow by 25-35% in the year ending March 2010. But the stock came off the day's high of Rs 897.95.
Other capital goods stocks Bharat Heavy Electricals, ABB, Praj Industries, Thermax rose by between 0.19% to 8.02%.
Some healthcare stocks rose triggered by expectations of better Q4 March 2009 results following reports of higher advance tax payment by these firms. Dr Reddy's Laboratories, Pfizer, Lupin, Glenmark Pharmaceuticals rose by between 1.24% to 6.97%.
But Cipla lost 2.98% on reports the US Food and Drug Administration has found nine deviations in manufacturing process during a recent inspection of the company's Bangalore plant.
Rate sensitive real estate shares rose on hopes lower rates will spur housing demand. DLF, Indiabulls Real Estate and Housing Development & Infrastrucuture rose by between 0.11% to 2.68%. Most of the realty deals including sale of commercial property and housing sales is driven by finance.
Unitech rose 2.19% extending gains after its board of directors approved raising upto Rs 5000 crore by way of issue of equity shares to institutional buyers. A television report on 16 April 2009, said United had raised nearly $325 million by selling fresh shares to institutional investors via a qualified institutional placement (QIP). The shares were placed at Rs 38.50 each, the report said.
Meanwhile, Unitech has partly repaid Rs 500 crore loan it owes to mutual fund houses and has rescheduled the remaining part, as per reports.
Unitech clocked the highest volume of 3.49 crore shares on BSE. Cals Refineries (1.7 crore shares), IFCI (1.5 crore shares), Reliance Natural Resources (1.47 crore shares) and Satyam Computer Services (1.13 crore shares) were the other volume toppers in that order.
Reliance Industries clocked the highest turnover of Rs 247.90 crore on BSE. Reliance Capital (Rs 244.31 crore), Reliance Infrastructure (Rs 236.15 crore), Unitech (Rs 191.07 crore) and ICICI Bank (Rs 175.74 crore) were the other turnover toppers in that order.
Today domestic markets are likely to open positive with marginal gap. The sentiments across Asia are mixed and there could be possibility of further deterioration as the markets progresses. The US markets have closed flat due to mixed earnings report from industry giants like Citigroup which reported a loss and on the other hand GE which reported better than expected quarterly results. The corporate earnings expectations will now play a major role in deciding the movements of domestic markets. There could be immense sense of cautiousness amongst investors ahead the corporate results.
On Friday, domestic markets managed to close in green after paring its initial gains. The markets trade with utmost buying sentiments during the trading session however towards the end investors booked profits across the frontline stocks. On the other hand Nikkei was the only index that out performed in the Asian markets. The positive opening of European markets helped investors to keep the buying trend firm. However the weekend trading session prompted investors to take a safer position amidst the murky corporate results season. In the Sectoral indices Realty, Bankex, IT and CG gained by 3.13%, 2.93%, 2.92% and 2.57% respectively. Metal faced the blaze as it closed with a loss of 1.66%. During the session we expect the markets to be trading volatile.
The BSE Sensex closed with gain of 75.69 points at 11,023.09 and NSE Nifty ended with gain of 14.90 points at 3,384.40. BSE Mid Caps and BSE Small Caps ended with gains of 33.87 points and 22.57 points at 3,472.60 and 3,951.56 respectively. The BSE Sensex touched intraday high of 11,339.47 and intraday low of 10,946.25.
On Friday, the US stock markets closed flat. There was phenomenal buying sentiments across financial sector as there were optimistic comments from the regional bank BB&T which had reassured investors that banks can still make profits while building loss provisions. On the other hand the financial major Citigroup was a laggard after the bank reported quarterly loss of $0.18 per share. The industrial giant GE surged phenomenally as the giant recorded better than expected quarterly result of $0.26 per share. US light crude oil futures for May surged 1.4% at $50.70 per barrel on the New York Mercantile Exchange.
The Dow Jones Industrial Average (DJIA) inclined by 5.90 points to close at 8,131.33. The NASDAQ Composite (RIXF) index surged 2.63 points to close at 1,673.07 and the S&P 500 (SPX) inclined by 4.30 points to close at 869.60.
Today major stock markets in Asia are trading mixed. Shanghai composite is high by 33.55 points at 2,537.49. Hang Seng is trading high by 164.67 points at 15,765.94 followed by Japan''s Nikkei which is low by 34.30 points at 8,873.28, Strait Times is low by 14.28 points at 1,882.28. While Taiwan Weighted is up by 18.39 points at 5,773.77 and Seoul Composite points is low by 6.74 points at 1,322.26 respectively.
Indian ADRs ended higher. In technology sector, Infosys ended up by 1.75% along with Wipro by 1.80%. Further, Patni Computers gained 1.48% and Satyam closed higher by 2.08%. In banking sector ICICI Bank gained 0.91% and HDFC Bank advanced by 0.32%. In telecommunication sector Tata Communication and MTNL went up 0.66% and 0.37% respectively. Sterlite Industries increased by 2.45%.
The FIIs on Friday stood as net buyers in equity and net sellers in debt. Gross equity purchased stood at Rs 3,019.30 Crore and gross debt purchased stood at Rs 493.70 Crore, while the gross equity sold stood at Rs 2,623.40 Crore and gross debt sold stood at Rs. 518.90 Crore. Therefore, the net investment of equity and debt reported were Rs 395.80 Crore and Rs (25.20) Crore respectively.
On Friday, the Rupee closed at Rs. 49.87/88, 0.2% weaker than its previous close of Rs. 49.77/88. The local currency closed weaker as green back gained strength against other currencies of the world.
On BSE, total number of shares traded were 51.21 Crore and total turnover stood at Rs 5,569.51 Crore. On NSE, total number of shares traded was 117.37 Crore and total turnover was Rs 17,393.06 Crore.
Top traded volumes on NSE Nifty – Unitech with 165510269 shares, Suzlon Energy with 59798795 shares, SAIL with 21110357 shares, Tata Steel with 19126388 shares followed by DLF with 18289931 shares.
On NSE Future and Options, total number of contracts traded in index futures was 1301274 with a total turnover of Rs 21,541.40 Crore. Along with this total number of contracts traded in stock futures were 553594 with a total turnover of Rs 20,776.41 Crore. Total numbers of contracts for index options were 1781264 with a total turnover of Rs 30,884.04 Crore and total numbers of contracts for stock options were 55306 and notional turnover was Rs 2,236.64 Crore.
Today, Nifty would have a support at 3,311 and resistance at 3,427 and BSE Sensex has support at 10,716 and resistance at 11,130.
Key benchmark indices are likely to see a flat start on mixed global cues. Also profit booking might emerge after a recent solid rally, which saw the BSE 30-share Sensex surging 35.08% or 2862.69 points to 11,023.09 on 17 April 2009 from a 3-year closing low of 8,160.40 on 9 March 2009
Volatility may heighten on the bourses with investor focus likely to be on the March 2009 quarterly earnings and the Reserve bank of India's meeting on 21 April 2009 to review interest rates.
With inflation slowing to around 20- year low in the first week of April 2009, analysts opine the central bank may cut interest rates further to boost slowing economy. the central bank's comments on the economic outlook, direction of interest rates
and credit growth target will be closely watched by the market.
The central bank has cut its main short-term lending rate or repo rate by 400 basis points to 5% in five moves since October 2008.
Wholesale prices rose 0.18% in the week to 4 April 2009 from a year earlier after rising 0.26% the previous week, government data showed Thursday, 16 April 2009.
TCS, Axis Bank, Sesa Goa, Escorts, Merck and Polaris among others will declare their March 2009 quarterly results today, 20 April 2009.
Also political uncertainty, with polling for India's 15th Lok Sabha underway, may lead to volatile swings on the bourses. The month-long parliamentary elections that began on 16 April 2009 will conclude on 13 May 2009 with results due on 16 May 2009. Poll estimates point to a fractured mandate.
Asian markets were trading mixed today, 20 April 2009. Key benchmark indices in China, Hong Kong, and Taiwan were up by between 0.17% and 1.34%. However indices in Singapore, South Korea, and Japan were down by between 0.42% and 0.74%.
US markets ended flat on Friday, 17 April 2009 on better-than-expected results from General Electric and Citigroup. The Dow Jones rose 5.90 points or 0.1% to 8,131.33. The S&P 500 rose 4.30 points, 0.5% to 869.60 while the Nasdaq Composite index added 2.63 points or 0.2% to 1673.07.
Back home, the BSE 30-share Sensex rose 75.69 points or 0.69% to 11,023.09 and the S&P CNX Nifty gained 14.90 points or 0.44% at 3384.40, on Friday, 17 April 2009, on easing concerns about the global economy and reports of near-normal monsoon in India this year.
According to provisional data on NSE, foreign institutional investors (FIIs) were net buyers worth Rs 669.85 crore while domestic institutional investors funds bought shares worth Rs 182.70 crore on Friday, 17 April 2009.
Meanwhile, the India Meteorological Department (IMD) on 17 April 2009 forecast a near normal monsoon this year. The IMD said rainfall in the June-September 2009 monsoon season was expected to be 96% of the long-term average. The outlook is among the nation's most widely watched indicator as monsoon rains are a major influence on output of key crops, economic activity and also affects sentiment in the country's financial markets.
The market is likely to witness volatility as US & European market ended on positive side and major Asian gauges like the Nikkei, the Hang Seng index, the Straits Times Index and the Jakarta index are also moving in mix trend in current trades and may rise the indices in early trades. Although the domestic indices moved up on Friday, intra-day volatility remains the major concern. Among the local indices, the Nifty could test higher levels in the 3430-3470 range and has a support at 3340. The Sensex on the downside may slip to 10900 and may face resistance at 11200.
In the US markets, the broader Dow Jones was marginally up by 6 points at 8131 and the tech-heavy Nasdaq was gained 3 points to close at 1673.
Barring few, rest of the Indian floats had a field day on the US bourses. Rediff gained 2.73%, while Infosys, Wipro, Dr Reddy, MTNL, VSNL and HDFC Bank gained around 1% each. However, Tata Motors slipped over 4% and Satyam, Patni Computers and ICICI Bank fell marginally. Daily trend of FII/MF investment in equities
Crude oil prices in the global market moved up on Friday. The Nymex light crude oil for May series gained by 35 cents at $50.33 per barrel. In the commodity segment, the Comex gold for April delivery moved down by $11.90 to settle at $867.90 an ounce.
Despite gains, prices end substantially lower for the week
Crude oil at US rose on Friday, 17 April, 2009. Prices rose as better than expected earning report from Citigroup and a couple of “positive” economic reports increased hopes that current recession might have bottomed out and energy demand will increase in coming months.
On Friday, crude-oil futures for light sweet crude for May delivery closed at $50.33/barrel (higher by $0.35 or 0.7%) on the New York Mercantile Exchange. For the week, crude ended lower by 3.7%.
Crude ended March trading up 10.9%. It rallied 11.3% in the first quarter. For the month of February, crude prices had ended higher by 1.5%.
Oil prices had reached a high of $147 on 11 July, 2008 but have dropped almost 70% since then. Year to date, in 2009, crude prices are higher by 13.6%. On a yearly basis, crude prices are lower by 53%.
On Friday, Citigroup reported better-than-expected first-quarter results on strength in the institutional-clients group plus tight expense controls. It was the third big bank this week to post better-than-expected earnings.
On the economic data front, U.S. consumer sentiment improved in April, but remained relatively gloomy, as per a survey released Friday by the University of Michigan and Reuters. The consumer sentiment index rose to 61.9 from 57.3 in March, boosted by higher stock prices and hopes that the worst of the recession may be soon past. Market was looking for an increase to 59.
Earlier during the week, the EIA had reported that crude inventories rose 5.6 million barrels in the week ended 10 April, 2009. Market was expecting an increase of 2.5 million barrels. At 366.7 million barrels, U.S. inventories stood at the highest level since September 1990.
EIA also reported that gasoline inventories fell by 900,000 barrels last week, as refineries reduced production, and distillate stockpiles, which include diesel and heating oil, fell by 1.2 million barrels. U.S. refineries operated at 80.4% of their operable capacity, the lowest level since September 2008. Meanwhile, total petroleum demand over the past four weeks fell by 5.2% from a year ago.
Paris based IEA reported earlier during the week that it is cutting its demand projection by 1 million barrels a day. After the latest revision, global oil demand this year is now forecast at 83.4 million barrels a day, which is 2.4 million barrels a day below the 2008 level.
Also at the Nymex on Friday, May reformulated gasoline rose 1.84 cents, or 1.2%, to $1.4927 a gallon and May heating oil gained slightly to $1.4225 a gallon.
Natural gas for May delivery fell 9.4 cents, or 2.5%, to $3.599 per million British thermal units. EIA reported during the week that U.S. natural-gas inventories rose 21 billion cubic feet in the week ended 10 April, 2009. At 1,695 billion cubic feet, stocks were 438 billion cubic feet higher than they were last year at this time and 311 billion cubic feet above the five-year average.
Crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex
We recommend a buy in Ganesh Housing Corporation from a short-term trading perspective. It is evident from the charts of Ganesh Housing that after recording as all-time high of Rs 830 in January 2008, it witnessed a sharp decline. The stock fell 96 per cent from its all-time high and found support at Rs 30 in March 2009.
However, we notice formation of a sloping inverse head and shoulders, bottom reversal pattern spanning between November 2008 and April 2009. The volume in this period supports this pattern formation. The stock is trading well above its 21- and 50-day moving averages. On April 17, the stock gained more than 9 per cent and is currently testing the neck line of the reversal pattern.
We also observe that there is an increase in volume over the past three trading sessions. A prolonged positive divergence in the weekly relative strength index and weekly moving average convergence and divergence triggers the reversal.
We are bullish on the stock from a short-term perspective. We expect it to break through the pattern and rally until it hits our price target of Rs 60. Traders with short-term perspective can buy the stock while maintaining a stop-loss at Rs 49.
Cipla does not support Adcock proposal to buy Cipla Medpro.(BL)
Power Grid may not fully utilize capital expenditure for 11th Plan.(BL)
Jet Airways, Kingfisher and SpiceJet to hike fuel surcharge by as much as Rs300 for long-haul flights and Rs200 on short routes. (BS)
Unitech partially repays Rs5bn loan it owes to mutual funds. (ET)
Tech Mahindra raised Rs6bn from non-convertible debentures for the acquisition of Satyam Computers. (BS)
Maruti Suzuki to invest Rs12bn to replace engines of existing models with a new light-weight fuel-efficient one. (ET)
Suzlon Energy plans to start business operations in the Canadian market in 2010. (ET)
GVK Power & Infra looks to dilute stake in power and road ventures. (BS)
Wipro announces organizational reshuffle, w week before its annual earnings announcement.(TOI)
Cipla plans to terminate its 20-year drug-supply agreement with Cipla Medpro if the South African company Adcock Ingram succeeds in acquiring the latter. (BS)
SBI extends its special home and car loans scheme last week at eight per cent and 10 per cent respectively, for the first one year, till September 30, 2009. (BS)
Unitech plans to raise up to Rs16.2bn by issue of equity shares through private placements to partly pay back the borrowings. (BS)
The government claims Maytas Infra did not have a land bank. (BS)
Tata Motors nets Rs150mn on 500,000 Nano forms. (BS)
DLF has sought denotification of four IT SEZs planned in Sonepat, Gandhinagar, Bhubaneswar and Kolkata. (BS)
ONGC Mittal Energy is talking to other players to come in as a partner for developing its oil and gas exploration project in Trinidad and Tobago.(BL)
Reliance Industries to open closed fuel stations soon. (BS)
Unitech assures investors it won’t buy more land in the near future to expand its business. (BS)
NTPC may place bid to run and maintain a project in Bangladesh.(Mint)
Swedish telecom gear manufacturer Ericsson is set to bag a multi-million dollar deal from Swan Telecom for rolling out its cellular network.(BL)
Government looks at special audit to fix Satyam Computers’ tax liability.(Mint)
BEML sets up assembly unit in Brazil. (BS)
Videocon to launch DTH on April 27, wireless telephone service in Aug’ 09.(Mint)
Bharti Airtel’s direct-to-home arm to launch its mobile DTH units for cars. (BS)
Power Grid Corp plans up to Rs200bn spending in mega-projects by 2012.(Mint)
Kotak Bank opposes merger of Subhiksha, Blue Green. (ET)
Nalco mines may resume operations on April 19. (ET)
Wockhardt expects stake sale in hospital business by May-end. (ET)
Telenor may invest up to US$2.24bn in Unitech Wireless. (ET)
Tatas start work on IT SEZ in Chennai.(BL)
ARCIL has decided to put fertilizer company Spic on the block.(TOI)
Lanco Infratech to invest Rs150bn in power.(BL)
MTNL has postponed the launch of its 3G mobile services in Mumbai to May. (BL)
MTNL’s FY10 capital expenditure likely at Rs17bn.(Mint)
Independent News & Media, may consider selling back its stake in Jagran Prakashan to repay its debts. (BS)
Bhushan Steel approached the West Bengal Industrial Development Corporation for an additional 1,000 acres in West Bengal, in the wake of negotiations with Sumitomo Metal Industries (SMI) for participation in its steel project. (BS)
Tech Mahindra is likely to settle the dispute with the UK's Upaid Inc. out of court. (DNA)
Two-wheeler manufacturer Honda Motorcycle and Scooter India is targeting sales of 1.25mn units during the current fiscal translating to a growth of 18% over the 2008-09.(BL)
Forex reserves fell by US$2.2bn in the week ended April 10.(BL)
The Ministry of Power to come out with detailed guidelines within a month to privatize the power transmission sector for attracting major investments. (BS)
RBI may put cap on reverse repo window.(BL)
DoT has sought the finance ministry’s approval for banning the promoters of new telecom operators from pledging their shares to raise capital during the three-year lock-in period. (ET)
Centre announces extra 0.6mn tonnes as free sale quota for sugar mills.(BL)
WHO lifts vaccine embargo on India.(Mint)
Government mulls banning sugar exports.(BL)
Centre defers NELP VIII auctions as it fails to iron out ambiguity of its own making on tax break for gas finds.(TOI)
Power plants to get more KG gas than LPG plants. (BS)
Refrain from asking what is going to happen tomorrow, and everyday that fortune grants you, count as gain.
The bulls may have found their winning ways for quite some time now. But the bears will hope some profit booking will bring them into focus sooner than later.
The market may open flat to weak and therafter chart its own course depending on what investors expect in tomorrows monetary policy.
On the positive side, bulls will hope some rate cut takes place. The cacophony of the Lok Sabha elections continues with the market more or less pricing in a fractured verdict. These concerns will play up closer to the election results next month. For now the larger market seems to be quite ignoring the corporate results though stock specific activity will continue depending on the results. Though the mood remains positive a much need cooling has evaded the market for some time.
Globally, investors are hoping that companies deliver results which show signs of revival and are hoping that firms, especially in the financial sector are not sitting on any landmines.
In the US, results of Bank of America and IBM will be closely watched. Asian markets declined in the morning trades on the back of worsening earnings.
The MSCI Asia Pacific Index lost nearly 1% to 88.92 as of 10:40 a.m. in Tokyo. The Nikkei index in Japan was down by 1% to 8,822, the Hang Seng index in Hong Kong edged lower by 0.4% to 15,542.
However, the Shanghai SE Composite in China was up by 0.7% to 2,521.
Results today – Axis Bank, Sesa Goa, TCS, Merck Ltd, Escorts, Polaris.
Some attention will be paid to what the RBI does on Tuesday after it has cut repo rate by 400 basis points to 5% in five steps since Oct 20 ’08.
International investors seem to suggest that the downturn may have reached its end with rising flavor for equities. Meanwhile, reports state that the share of mutual fund assets under management (AUM) by foreign and predominantly foreign companies in India has declined drastically over the last fiscal, ended March 2009.
Assets managed by foreign and dominantly foreign asset management companies (AMCs) have fallen to 11.5 per cent of the total AUM of the industry, from 20.6 per cent in March 2008, the report added.
The Indian AMCs accounted for 79.39% of the total asset base of the industry as on March, 2008, while this has come up to 88.5% as on March, 2009.
The Nano continues to do wonders even before making its impact on the road. Tata Motors has sold nearly 500,000 application forms, bringing in Rs150mn.
Tech Mahindra has raised Rs6bn from non-convertible debentures (NCDs). The money has been raised to pay for the acquisition of Satyam Computer Services.
US President Barack Obama said he would soon announce the elimination of dozens of wasteful or ineffective government programs as part of a broad effort to restore fiscal accountability to the federal budget.
Paul Volcker, senior economic adviser to President Barack Obama, said that the US economic recovery will be a long slog but that the rate of decline "is going to slow."
The United States may not be in a Great Depression but it is "in a great recession for sure," following the economy's unprecedented tumble in late 2008, Volcker said at a financial markets conference at Vanderbilt University in Nashville, Tennessee.
Chinese Premier Wen Jiabao called for more surveillance of countries that issue major reserve currencies, according to published.
With a lot of noise being made about Swiss bank accounts, Switzerland says it will have to examine any request it receives for release of data about those having secret accounts in Swiss banks or for revision in the treaty or agreement that India has with Switzerland, the Swiss Ambassador, Mr Philipppe Welti said.
Initial jobless claims plunged to 610,000 in the week ended April 11, reported the U.S. Department of Labor.
In the US, big companies due to report results this week include Bank of America, American Express, Microsoft, Yahoo, IBM and Apple.
Bulls staged a come back after sliding sharply ending the week on a high. The interest rate sensitive stocks led from the front followed by the IT and the Capital Goods stocks. The BSE Sensex advanced 75 points, or 0.7%, to close at 11,023 and the NSE Nifty ended higher by 14 points at 3,384.
Among the 30-components of Sensex, 15 ended in negative terrain and 15 ended in the green. Among the major gainers were, L&T, ICICI Bank, Infosys, SBI, Reliance Infra and HDFC.
Among the major loser were Hindalco, Sun Pharma, Sterlite, Tata Steel and Tata Motors.
Among the BSE Sectoral indices BSE Realty index was the top gainer, the index gained 4%. Among the other major gainers were BSE Bankex index (up 4%), BSE IT index (up 3%) and BSE Capital Goods index (up 3%).
Market breath was positive, 1,404 stocks advanced against 1,156 declines, while, 87 stocks remained unchanged.
Bulls may continue to be on a roll next week, as risk appetite is on the rise amid some tentative signs of recovery in the global economy, particularly in the US. Confidence in the western financial system is improving following positive results from the likes of Wells Fargo, Goldman Sachs and JP Morgan.
Economic reports too do not appear to be as grim as a few months back, though a sustained rebound may still be some way away. Outflows by global funds have turned into relatively strong inflows, including in emerging markets like India.
All these positives have raised optimism that the world economy and financial markets may be turning a corner.
Another good week for the equity market, and the Sensex has now rallied over 32 per cent (2,697 points) at 11,023. The index began the week on a positive note, touched a low of 10,719, and a high of 11,367 amid high volatility. The index finally closed the week with a gain of two per cent.
Among the index stocks — SBI zoomed nearly 15 per cent to Rs 1,306. ICICI Bank, BHEL, Sun Pharma, HDFC, Tata Motors, Larsen & Toubro, ACC, Mahindra & Mahindra, DLF and Maruti rallied 4-11 per cent each. On the other hand, Hindalco plunged nearly 7 per cent to Rs 59. TCS, ONGC, Infosys, Ranbaxy, Jaiprakash Associates, Sterlite and Tata Steel dropped 1-5 per cent each.
The Sensex has cleared all its near-term hurdles and has given a buy signal on monthly and quarterly charts. Hence, any decline or correction henceforth should be looked as an opportunity to enter the market. However, the scenario may change as and when the index drops below the 9,650-9,700 support level.
In the coming week, the index is likely to find support around 10,620-10,500. On the upside, the index may face resistance around 11,270-11,425. The immediate short-term target for the index remains at 12,600, above which the index may rally up to 14,800.
The NSE Nifty moved up 199 points, from a low of 3,312, the index rallied to a high of 3,511, and finally closed with a gain of 42 points at 3,384.
The index cleared the 200-DMA (simple daily moving average), but found it difficult to sustain around the 3,500-mark. For the up move to continue, the index should rally past the 3,500-mark as soon as possible. If it fails to do so, the index may see a small correction towards its short-term (20 days) and medium-term (50 days) moving averages which are placed at 3,100 and 2,900. However, according to Fibonacci calculations, the index is likely to find considerable support around 3,250.
The worrying signs for the index remains, the overbought RSI, MACD and Stochastic Slow - which are all indicating some sort of a correction in the coming days.
The index is likely to face resistance around 3,460-3,485-3,510 next week, while support on the downside will be around 3,310-3,285-3,260.