Tuesday, April 13, 2010
Nifty April 2010 futures were at 5,330.30, at a premium of 7.35 points over spot closing of 5,322.95. Turnover in NSE's futures & options (F&O) segment was Rs 61,875.33 crore, lower than Rs 66,287.59 crore on Monday, 12 April 2010.
Infosys Technologies April 2010 futures were at discount at 2773.90 compared to the spot closing of 2777.
Tata Consultancy Services April 2010 futures were near spot price at 821.30 compared to the spot closing of 820.70.
JSW Steel April 2010 futures were at premium at 1268.10 compared to the spot closing of 1265.
In the cash market, the S&P CNX Nifty fell 16.75 points or 0.41% at 5,322.95.
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
13/4/2010 530093 Ace India PATANGI TRADE & HOLDINGS PRIVATE LIMITED B 25000 34.50
13/4/2010 530093 Ace India SUNIL FINVEST PVT LTD B 97436 36.00
13/4/2010 530093 Ace India VEDPRAKASH NARULA S 100000 36.00
13/4/2010 530901 ACIL Cot Inds ABHIJAI INVESTMENT B 64000 28.65
13/4/2010 531300 Amit Intl MEHTA PRAVIN CHANDRA B 36000 5.73
13/4/2010 519105 AVT Nat Products ASHOK KUMAR BILGAIYAN B 24393 102.46
13/4/2010 519105 AVT Nat Products ASHOK KUMAR BILGAIYAN S 24393 104.76
13/4/2010 532382 Balaji Tele GENUINE STOCK BROKERS PVT. LTD. B 330824 68.31
13/4/2010 532382 Balaji Tele GENUINE STOCK BROKERS PVT. LTD. S 330824 68.30
13/4/2010 531591 Bampsl Sec PRAKASH CHAND GUPTA B 760100 1.43
13/4/2010 590061 Brushman India SICPA INDIA LTD S 90660 9.15
13/4/2010 500083 Century Extr BHARAT SHANKAR PHAPALE B 346658 13.84
13/4/2010 531337 Channel Guide DHARMENDRA HARILAL BHOJAK B 50000 17.40
13/4/2010 531337 Channel Guide RONAK JITENDRAKUMAR SHAH B 33000 17.40
13/4/2010 531337 Channel Guide FALGUNIBEN MAHAVIRBHAI GOHIL S 31457 17.84
13/4/2010 531337 Channel Guide BHUTIYA HITESH KANABHAI S 94991 17.52
13/4/2010 531337 Channel Guide RAJENDRA SHARAD KARNIK S 55000 18.52
13/4/2010 533026 Chemcel Bio REKHA BHANDARI B 177200 10.98
13/4/2010 521220 Damodar Thrd WALLFORT FINANCIAL SERVICES LTD B 50000 44.10
13/4/2010 526703 Ecoplast SANJAY NATVARLAL DESAI B 17305 31.50
13/4/2010 500132 Empee Sugars EMPEE DISTILLERIES LIMITED S 500000 38.50
13/4/2010 530945 Gangotri Iron BALASO VITHAL SHINDE B 73843 59.79
13/4/2010 530945 Gangotri Iron BALASO VITHAL SHINDE S 73843 60.62
13/4/2010 504701 Gontermann Peip DYNAMIC STOCK BROKING INDIA PVT LTD B 249032 52.18
13/4/2010 504701 Gontermann Peip DYNAMIC STOCK BROKING INDIA PVT LTD S 182355 51.86
13/4/2010 532770 Hanung Toys AJMERA SHARES TRADING PRIVATE LIMITED B 195594 246.39
13/4/2010 532770 Hanung Toys AJMERA SHARES TRADING PRIVATE LIMITED S 187755 246.08
13/4/2010 511682 IFL Promoters DMC INTERNATIONAL LTD B 29000 14.75
13/4/2010 511682 IFL Promoters DMC INTERNATIONAL LTD S 20000 14.76
13/4/2010 530259 Inter State Oil KAMAL KISHOR TOSHNIWAL B 32000 9.93
13/4/2010 533181 INTRASOFT GENUINE STOCK BROKERS PVT. LTD. B 154667 155.11
13/4/2010 533181 INTRASOFT SMART EQUITY BROKERS PRIVATE LIMITED B 151468 155.39
13/4/2010 533181 INTRASOFT CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 98627 154.92
13/4/2010 533181 INTRASOFT OPG SECURITIES P LTD B 270534 154.95
13/4/2010 533181 INTRASOFT RKSV SECURITIES INDIA PRIVATE LIMITED B 133848 155.52
13/4/2010 533181 INTRASOFT GENUINE STOCK BROKERS PVT. LTD. S 154667 155.19
13/4/2010 533181 INTRASOFT SMART EQUITY BROKERS PRIVATE LIMITED S 151468 155.38
13/4/2010 533181 INTRASOFT CROSSEAS CAPITAL SERVICES PRIVATE LIMITED S 98627 155.15
13/4/2010 533181 INTRASOFT OPG SECURITIES P LTD S 270534 155.03
13/4/2010 533181 INTRASOFT JMP SECURITIES PVT LTD S 94121 154.83
13/4/2010 533181 INTRASOFT RKSV SECURITIES INDIA PRIVATE LIMITED S 133848 155.38
13/4/2010 530955 Kailash Ficom MANDVI DYES AND CHEMICALS PVT B 75000 38.45
13/4/2010 530255 KAY Power KAUSHALYA GARG B 136200 18.68
13/4/2010 530255 KAY Power BAMPSL SECURITIES LTD B 183065 18.22
13/4/2010 530255 KAY Power KAUSHALYA GARG S 85000 18.17
13/4/2010 530255 KAY Power BAMPSL SECURITIES LTD S 252394 18.33
13/4/2010 530255 KAY Power B.S.KHANDELWAL S 133230 18.01
13/4/2010 513693 KIC Metaliks SHAIL INVESTMENTS PRIVATE LIMITED B 50001 70.88
13/4/2010 532067 Kilpest India ACME FURNITURE PRIVATE LIMITE B 107000 12.51
13/4/2010 532067 Kilpest India JAYSHREE SOMANI S 40700 12.08
13/4/2010 530145 Kisan Mouldings SPREAD FINTRADE LTD S 46082 81.41
13/4/2010 531602 Koffee Break ACHALA ELECTRICALS PRIVATE LIMITED B 450000 1.72
13/4/2010 531602 Koffee Break JITENDRA SHANTARAM BERDE B 435000 1.72
13/4/2010 531602 Koffee Break SANDEEPA MOHANLAL JAIN S 934637 1.72
13/4/2010 531366 Kohinoor Broad VINOD AMRATLAL NAAI B 601536 6.43
13/4/2010 531366 Kohinoor Broad VINOD AMRATLAL NAAI S 555028 6.56
13/4/2010 512559 Kohinoor Foods TRANSGLOBAL SECURITIES LTD. B 309132 65.54
13/4/2010 512559 Kohinoor Foods TRANSGLOBAL SECURITIES LTD. S 309132 65.64
13/4/2010 523550 Krypton Inds EPOCH SYNTHETICS PRIVATE LIMITED B 40000 35.30
13/4/2010 523550 Krypton Inds RAMESH KUMAR KABRA B 49463 32.22
13/4/2010 523550 Krypton Inds GREEN PARK LEASING AND FINANCE P LTD S 29500 30.85
13/4/2010 523550 Krypton Inds RAMESH KUMAR KABRA S 49463 35.33
13/4/2010 509011 Livingroom Life AVISHEK BOSE B 50000 40.75
13/4/2010 509011 Livingroom Life SHAKERA JEHANGIR NAGREE S 114350 40.75
13/4/2010 590111 MASTER RAMATULASI MORTHA B 32800 38.64
13/4/2010 590011 Moving Picture CHANDULAL RANCHHODBHAIRA BADIYA S 72048 5.58
13/4/2010 524816 Natco Pharma OPG SECURITIES P LTD B 194820 160.44
13/4/2010 524816 Natco Pharma OPG SECURITIES P LTD S 194820 160.47
13/4/2010 590090 Octant Inter VIDHATA SECURITIES PVT LTD S 261520 12.27
13/4/2010 531496 Omkar Overseas PRANALI COMMODITIES PVT.LTD B 25000 68.00
13/4/2010 531496 Omkar Overseas S N INVESTMENT B 30505 68.33
13/4/2010 531496 Omkar Overseas PATHIK NAYANBHAI SHAH S 31205 68.00
13/4/2010 532882 Omnitech Info AJMERA SHARES TRADING PRIVATE LIMITED B 327219 199.16
13/4/2010 532882 Omnitech Info BLUE PEACOCK SECURITIES PVT LT B 92118 198.80
13/4/2010 532882 Omnitech Info RKSV SECURITIES INDIA PRIVATE LIMITED B 66104 197.38
13/4/2010 532882 Omnitech Info AASHKA CONSTRUCTION PRIVATE LIMITED B 209047 194.50
13/4/2010 532882 Omnitech Info AJMERA SHARES TRADING PRIVATE LIMITED S 293923 195.65
13/4/2010 532882 Omnitech Info BLUE PEACOCK SECURITIES PVT LT S 92118 198.21
13/4/2010 532882 Omnitech Info RKSV SECURITIES INDIA PRIVATE LIMITED S 66104 197.46
13/4/2010 532882 Omnitech Info AASHKA CONSTRUCTION PRIVATE LIMITED S 209047 200.37
13/4/2010 532607 Ontrack Sys ESCONI ENTERPRISES B 50000 15.86
13/4/2010 532607 Ontrack Sys LAKHSMAN SRINIVASAN S 138430 15.27
13/4/2010 512097 Oregon Comm SHWETA KIRAN POWAR B 15000 218.00
13/4/2010 512097 Oregon Comm ASHLESH GUNVANTBHAI SHAH B 6800 217.15
13/4/2010 507864 Pioneer Invest PRIMUS REAL ESTATES PRIVATE LIMITED B 144301 59.70
13/4/2010 507864 Pioneer Invest MAHALAXMI INNOVATIVE SERVICES LIMITED S 144301 59.70
13/4/2010 524570 Poddar Pigm PLUTO TRADE LINKS LIMITED B 66100 39.91
13/4/2010 524570 Poddar Pigm TRUST LINE CAPITALFINANCE LTD S 66100 39.91
13/4/2010 503873 Priyadarshini Spn PRADEEP KR AGGARWAL B 57706 29.13
13/4/2010 503873 Priyadarshini Spn SEARCH FINVEST PVT LTD S 53016 29.19
13/4/2010 503873 Priyadarshini Spn GUARDIAN PORTFOLIO CONSULTANTS P LTD S 52959 29.18
13/4/2010 503873 Priyadarshini Spn PRADEEP KR AGGARWAL S 149027 29.26
13/4/2010 590077 Ranklin Sol VULASA BABU RAO B 32540 69.58
13/4/2010 532918 Rathi Bars SAINATH HERBAL CARE MARKETING P.LTD B 440100 16.47
13/4/2010 532918 Rathi Bars SRINIVAS LAXMAIAHMA CHERLA S 121925 15.87
13/4/2010 532918 Rathi Bars SUREKHA VIKAS PANDKAR S 100000 16.84
13/4/2010 532918 Rathi Bars NANDA PRAMOD DESAI S 100000 16.50
13/4/2010 533083 RISHABHDEV BHAVISH DHIRAJLAL KHAKHKHAR B 497931 12.99
13/4/2010 533083 RISHABHDEV SAAKSHI SHARES PVT LTD S 150100 12.02
13/4/2010 533083 RISHABHDEV SAAKSHI SHARES PVT LTD S 226450 12.32
13/4/2010 533083 RISHABHDEV BHAVISH DHIRAJLAL KHAKHKHAR S 568231 12.49
13/4/2010 512359 Rotam Comm VENTURE BROKING PVT. LTD B 5000 149.35
13/4/2010 512359 Rotam Comm J M SONI CONSULTANCY B 21102 148.55
13/4/2010 512359 Rotam Comm VIJAYAKUMAR KANTAMNENI B 6000 149.44
13/4/2010 512359 Rotam Comm KRUNAL GOPALDAS RANA S 5704 149.12
13/4/2010 512359 Rotam Comm ASHLESH GUNVANTBHAI SHAH S 7000 148.49
13/4/2010 512359 Rotam Comm SONAL BHUPENDRABHAI KAMODIA S 8177 149.38
13/4/2010 512359 Rotam Comm RAKESH RASIKLAL KHARSANI S 6952 149.50
13/4/2010 512359 Rotam Comm SANJAY JETHALAL SONI S 5804 149.38
13/4/2010 531781 Sapan Chem ABHIJAI INVESTMENT B 40600 8.22
13/4/2010 533056 SARK SYS SWETA TIBREWALA B 170000 30.46
13/4/2010 533056 SARK SYS MVM SECURITIES PRIVATE LIMITED B 75000 30.82
13/4/2010 533056 SARK SYS SANJEET KUMAR CHOURASIA B 50000 30.67
13/4/2010 533056 SARK SYS SATELLITE EXIM PRIVATE LIMITED S 74998 30.69
13/4/2010 519566 Simran Farms MENGHRAJ KHUSHALDAS TEKCHANDANI B 19880 26.20
13/4/2010 531645 Southern Ispat GBK RESOURCES PRIVATE LTD B 100000 24.54
13/4/2010 531645 Southern Ispat JIGNA SANJEEV SHAH S 63639 24.61
13/4/2010 526893 Srinivasa Hatch WALLFORT FINANCIAL SERVICES LTD B 25000 171.45
13/4/2010 531373 Suave Hotels J V STOCK BROKING PRIVATE LIMITED B 182450 30.89
13/4/2010 531373 Suave Hotels GOVIND PATODIA HUF B 89138 32.61
13/4/2010 531373 Suave Hotels ACHALA ELECTRICALS PRIVATE LIMITED B 261051 31.10
13/4/2010 531373 Suave Hotels J V STOCK BROKING PRIVATE LIMITED S 179951 31.22
13/4/2010 531373 Suave Hotels UPTON INFRASTRUCTURE PRIVATE LIMITED S 347188 30.38
13/4/2010 531373 Suave Hotels ACHALA ELECTRICALS PRIVATE LIMITED S 258020 31.16
13/4/2010 500336 Surya Roshni TRANSGLOBAL SECURITIES LTD. B 157005 96.65
13/4/2010 500336 Surya Roshni TRANSGLOBAL SECURITIES LTD. S 157005 96.84
13/4/2010 570001 TATAMOTORS-DVR-A-ORDY HDFC MUTUAL FUND AC HDFC BALANCED FUND B 1050000 485.14
13/4/2010 570001 TATAMOTORS-DVR-A-ORDY TATA SONS LIMITED S 550000 490.00
13/4/2010 570001 TATAMOTORS-DVR-A-ORDY TATA SONS LIMITED S 1040100 485.02
13/4/2010 523301 TCPL Pack ACCURAFORM PVT LTD B 48031 47.00
13/4/2010 523301 TCPL Pack BROMELIA TRADING PRIVATE LIMITED S 49021 47.00
13/4/2010 507205 Tilaknagar Inds SAL REAL ESTATE PRIVATE LIMITED B 154190 169.45
13/4/2010 590093 TRIMURTHI DR FULLBLOOM INVESTMENT PVT LTD B 900000 6.00
13/4/2010 532389 Valecha Engr MAHESH AWATRAIBHOJWANI B 100000 197.40
13/4/2010 530477 Vikram Thermo VINESH C SHAH B 16004 21.02
13/4/2010 532660 Vivimed Labs AMN HOTELS (P) LTD S 99000 152.38
13/4/2010 531396 Women Networks SANJU KABRA B 40000 27.70
13/4/2010 531396 Women Networks SANJU KABRA S 40000 27.70
13/4/2010 531364 Zenu Infotech EMMA AUTO ANCILLARY PRIVATE LTD S 27983 22.58
13/4/2010 506313 Zenzy Technocrats CHIRAGJAYKUMAR SHAH B 4200 4.92
13/4/2010 506313 Zenzy Technocrats ALI HUSSAINI IRANI S 4150 4.92
* B - Buy, S - Sell
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
13-APR-2010,BAGFILMS,B.A.G Films and Media Ltd,EPOCH SYNTHETICS PVT LTD,BUY,37000,23.82,-
13-APR-2010,BAGFILMS,B.A.G Films and Media Ltd,SAFFRON FINANCE LIMITED,BUY,2070387,26.50,-
13-APR-2010,BALAJITELE,Balaji Telefilms Limited,BLUE PEACOCK SECURITIES PVT LT,BUY,581008,67.62,-
13-APR-2010,BALAJITELE,Balaji Telefilms Limited,DINESH MUNJAL(HUF),BUY,356702,68.16,-
13-APR-2010,BALAJITELE,Balaji Telefilms Limited,GENUINE STOCK BROKERS PVT LTD,BUY,351557,68.21,-
13-APR-2010,BALAJITELE,Balaji Telefilms Limited,OM INVESTMENTS,BUY,489962,68.33,-
13-APR-2010,GSSAMERICA,GSS America Infotech Limi,VAIBHAV DOSHI,BUY,112245,334.92,-
13-APR-2010,HANUNG,Hanung Toys and Textiles,AJMERA SHARES TRADING PVT LTD,BUY,199021,246.60,-
13-APR-2010,ISFT,Intrasoft Tech. Ltd,ATHENA COMMERCIAL PVT LTD,BUY,116565,154.91,-
13-APR-2010,ISFT,Intrasoft Tech. Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,98799,154.87,-
13-APR-2010,ISFT,Intrasoft Tech. Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,168841,155.10,-
13-APR-2010,ISFT,Intrasoft Tech. Ltd,JMP SECURITIES PVT LTD,BUY,23206,154.41,-
13-APR-2010,ISFT,Intrasoft Tech. Ltd,R.M. SHARE TRADING PVT LTD,BUY,76223,154.96,-
13-APR-2010,ISFT,Intrasoft Tech. Ltd,SURBHI TRADING CO, PVT LTD,BUY,75000,154.36,-
13-APR-2010,KOHINOOR,Kohinoor Foods Limited,RISHABHKUMAR M JAIN HUF,BUY,162739,66.30,-
13-APR-2010,KOHINOOR,Kohinoor Foods Limited,SAR AUTO PRODUCTS LIMITED,BUY,170000,64.33,-
13-APR-2010,KOHINOOR,Kohinoor Foods Limited,TRANSGLOBAL SECURITIES LTD.,BUY,316701,65.67,-
13-APR-2010,NATCOPHARM,Natco Pharma Limited,MANISH VRAJLAL SARVAIYA,BUY,213731,160.07,-
13-APR-2010,OMNITECH,Omnitech Infosolutions Li,AASHKA CONSTRUCTION PVT LTD,BUY,129612,193.90,-
13-APR-2010,OMNITECH,Omnitech Infosolutions Li,AJMERA SHARES TRADING PVT LTD,BUY,312303,199.24,-
13-APR-2010,OMNITECH,Omnitech Infosolutions Li,BLUE PEACOCK SECURITIES PVT LT,BUY,66606,198.03,-
13-APR-2010,OMNITECH,Omnitech Infosolutions Li,MANSUKH SECURITIES & FINANCE LIMITED,BUY,102165,197.58,-
13-APR-2010,SURYAROSNI,Surya Roshni Ltd,MANISH VRAJLAL SARVAIYA,BUY,515910,96.30,-
13-APR-2010,SURYAROSNI,Surya Roshni Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,143470,96.84,-
13-APR-2010,TATAMTRDVR,Tata Motors DVR 'A' Ord,HDFC MUTUAL FUND AC HDFC BALANCED FUND,BUY,2450000,485.14,-
13-APR-2010,TATAMTRDVR,Tata Motors DVR 'A' Ord,INTERNATIONAL OPPORTUNITIES FUNDASIAN EQUITY FUND,BUY,368859,490.00,-
13-APR-2010,TATAMTRDVR,Tata Motors DVR 'A' Ord,PRULINK ASIAN EQUITY FUND,BUY,444725,490.00,-
13-APR-2010,TELEDATAIT,Teledata Technology Solut,S V ENTERPRISES,BUY,3026254,3.59,-
13-APR-2010,TREADS,Treadsdirect Limited,KANKARIA BROTHERS PVT LTD,BUY,575000,9.25,-
13-APR-2010,AMRUTANJAN,Amrutajan Health Ltd,NILE ENTERPRISES PVT LTD,SELL,31634,980.43,-
13-APR-2010,BAGFILMS,B.A.G Films and Media Ltd,EPOCH SYNTHETICS PVT LTD,SELL,905000,27.21,-
13-APR-2010,BAGFILMS,B.A.G Films and Media Ltd,SAFFRON FINANCE LIMITED,SELL,2090887,25.92,-
13-APR-2010,BALAJITELE,Balaji Telefilms Limited,BLUE PEACOCK SECURITIES PVT LT,SELL,652000,68.49,-
13-APR-2010,BALAJITELE,Balaji Telefilms Limited,DINESH MUNJAL(HUF),SELL,356702,68.24,-
13-APR-2010,BALAJITELE,Balaji Telefilms Limited,GENUINE STOCK BROKERS PVT LTD,SELL,351557,68.27,-
13-APR-2010,BALAJITELE,Balaji Telefilms Limited,OM INVESTMENTS,SELL,489962,68.41,-
13-APR-2010,GSSAMERICA,GSS America Infotech Limi,VAIBHAV DOSHI,SELL,100245,334.95,-
13-APR-2010,HANUNG,Hanung Toys and Textiles,AJMERA SHARES TRADING PVT LTD,SELL,199021,246.11,-
13-APR-2010,ISFT,Intrasoft Tech. Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,SELL,98799,154.91,-
13-APR-2010,ISFT,Intrasoft Tech. Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,168841,155.14,-
13-APR-2010,ISFT,Intrasoft Tech. Ltd,JMP SECURITIES PVT LTD,SELL,107197,154.96,-
13-APR-2010,ISFT,Intrasoft Tech. Ltd,R.M. SHARE TRADING PVT LTD,SELL,76223,154.85,-
13-APR-2010,ISFT,Intrasoft Tech. Ltd,SURBHI TRADING CO, PVT LTD,SELL,75000,155.05,-
13-APR-2010,JUBILANT,Jubilant Organsosys Limit,CITICORP INTL FIN CORP,SELL,1237583,334.77,-
13-APR-2010,KOHINOOR,Kohinoor Foods Limited,RISHABHKUMAR M JAIN HUF,SELL,162739,66.33,-
13-APR-2010,KOHINOOR,Kohinoor Foods Limited,SAR AUTO PRODUCTS LIMITED,SELL,170000,65.06,-
13-APR-2010,KOHINOOR,Kohinoor Foods Limited,TRANSGLOBAL SECURITIES LTD.,SELL,316701,65.64,-
13-APR-2010,NATCOPHARM,Natco Pharma Limited,MANISH VRAJLAL SARVAIYA,SELL,213731,160.15,-
13-APR-2010,OMNITECH,Omnitech Infosolutions Li,AASHKA CONSTRUCTION PVT LTD,SELL,129612,201.21,-
13-APR-2010,OMNITECH,Omnitech Infosolutions Li,AJMERA SHARES TRADING PVT LTD,SELL,292850,195.71,-
13-APR-2010,OMNITECH,Omnitech Infosolutions Li,BLUE PEACOCK SECURITIES PVT LT,SELL,66606,197.57,-
13-APR-2010,OMNITECH,Omnitech Infosolutions Li,MANSUKH SECURITIES & FINANCE LIMITED,SELL,100665,197.83,-
13-APR-2010,SURYAROSNI,Surya Roshni Ltd,MANISH VRAJLAL SARVAIYA,SELL,515910,96.18,-
13-APR-2010,SURYAROSNI,Surya Roshni Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,141470,96.69,-
13-APR-2010,TATAMTRDVR,Tata Motors DVR 'A' Ord,TATA SONS LIMITED,SELL,2459900,485.16,-
13-APR-2010,TATAMTRDVR,Tata Motors DVR 'A' Ord,TATA SONS LTD,SELL,1150000,490.00,-
13-APR-2010,TELEDATAIT,Teledata Technology Solut,S V ENTERPRISES,SELL,3213684,3.66,-
Today's major news
Infosys Technologies Q4FY2010 net income at Rs1,600 crore; the stock jumps 3.69% up
Reserve Bank of India relaxes norms on collaterals for foreign institutional investors
SEBI, IRDA to approach High Court on unit-linked insurance plan row
Click here for more stories
European stocks fell as declining metal prices hurt the earnings outlook for commodity producers and Alcoa posted sales that missed analysts` estimates. At the time of writing of this report, FTSE 100 (London) was trading 0.23% lower.
All the major Asian indices closed in the negative territory on Tuesday, except Shanghai Composite (China) and Kospi (Korea). SGX Nifty closed nine points lower.
US stock futures point to a weak start for the Wall Street on Tuesday ahead of February international trade figures to be announced later on the day.
The domestic market edged lower on a second day in a row on the back of not-so-encouraging global equities. The market slipped despite good FY2010 March quarter numbers posted by information technology (IT) bellwether Infosys Technologies.
The Sensex opened 22 points lower (at 17831) but turned positive soon for few moments to touch the day’s high of 17893 before slipping back into negative. With auto and banking stocks under pressure, the Sensex hit the day’s low of 17736. However, the market pared its losses on robust buying in IT stocks led by Sensex heavyweight— Infosys Technologies. At closing bell, the Sensex quoted at 17822, 31 points lower while Nifty shut at 5323, 17 points down.
Trailing shares outnumbered gaining ones. Of the 2,964 stocks traded on the BSE, 1,527 (51%) stocks declined, whereas 1,359 (46%) stocks advanced. Seventy eight stocks remained unchanged.
Sectoral & stock screening
IT stocks were the top performers — up by 3.09%. BSE TECk and BSE Power were the other two counters that posted gains. The remaining 10 sectors were down, with Auto index down by 1.32% — the most for any sector —to be followed by banking counter that declined 0.87%.
On stocks’ front, IT bellwether Infosys Technology surged the most by 3.69%, followed by Indiabulls Financial that rose 3.54% and Balrampur Chini Mills that jumped 3.47% up. Among losers, Hero Honda slid the most by 5.29%, followed by Procter & Gamble that fell 3.95%
Sugar major Balrampur Chini Mills was the most actively traded share with over 0.30 crore shares changing hands on the BSE, followed by steel maker Ispat Industries (0.26 crore shares), Industrial finance company IFCI (0.26 crore shares), India’s second largest realty major Unitech (0.23 crore shares) and wind turbine major Suzlon Energy (0.22 crore shares).
Stocks mostly end in red as dollar rallies and investors book profits
Asian stocks slipped today after investors booked profits after the recent flurry of gains as the US dollar straightened and the commodity prices slipped sharply. Greece is likely o need up to 75 billion euros in new debt between now and 2013 as it cuts its budget deficit back to 3% from a reported 12.7% of GDP. The Greek economy will contract this year and may be next year too as government spending cuts hit and taxes rise, leading to persistent worries on economic even as the IMF and EU sponsored bailout supports the government finances now. Dollar appreciated from a three week lows today and hurt the sentiments for the risky assets.
Japanese stocks fell for the first time in three days as the yen strengthened, hurting the earnings prospects for exporters. The Nikkei 225 Stock Average fell 0.8 % to 11,161.23 at the close in Tokyo. The broader Topix index sank 0.6 % to 988.44, with about five stocks declining for every two that advanced.
The Australian market also closed negative territory, dragged down by resource stocks as traders resorted to profit taking after the market indices rose to a 18-month high in the previous session. The benchmark S&P/ASX200 Index declined 32.70 points, or 0.66% to close at 4,952, while the All-Ordinaries Index ended at 4,978, representing a loss of 33.20 points, or 0.66%.
On the economic front, results of a new survey conducted by the National Australia Bank revealed that its business confidence index stood at 16 in March, down from 19 reported in the previous month. Despite the fall in confidence, confidence remains at very robust levels and is still moving up in trend terms, the bank noted.
In a separate statement, the Australian Bureau of Statistics revealed that housing finance for owner occupation, excluding alterations & additions, declined a seasonally adjusted 4.4% month-on-month in February to A$14.09 billion. In contrast, personal finance edged up 0.7% to A$6.99 billion, while commercial finance increased 5.6% to A$28.08 billion and lease finance climbed 0.8% to A$365 million, all in seasonally adjusted terms.
However, Chinese stocks rose 1.02 % to its highest close in nearly three months as institutions bought large caps such as banking stocks, ahead of the launch of the country's first index futures on Friday. The Shanghai Composite Index .SSEC finished the day at 3,161.251 points, its highest close since Jan. 19 and reversing a 0.51 % fall on Monday.
New Zealand shares were mixed and the NZX 50 Index fell marginally by 4.2, or 0.1%, to 3309.93. In other markets, Philippine stocks gained 0.2% while markets in Thailand were shut for a public holiday
In Mumbai, the key benchmark indices registered small losses at close tracking weak global stocks. The BSE 30-share Sensex was provisionally down 30.39 points or 0.17%, off close to 60 points from the day's high and up close to 85 points from the day's low. Infosys led a rally in IT pivotals after the IT sector bellwether issued a stronger revenue guidance in dollar terms which indicated robust outsourcing demand.
Crude slipped today in tandem with the rising US dollar as investor's eyed the weekly US inventory data due tomorrow. The US crude oil inventories have gone up for the last 10 weeks and at a seasonally high level, undercutting the prospects of a supply crunch in the peak summer driving season. The commodity broke below $84 per barrel levels and currently trade at $83.77, down 57 cents from the previous close.
The key benchmark indices registered small losses tracking weak global stocks. The market fell for the second straight day. The BSE 30-share Sensex lost 31.04 points or 0.17%, off close to 60 points from the day's high and up close to 85 points from the day's low. Infosys led a rally in IT pivotals after the IT sector bellwether issued a stronger revenue guidance in dollar terms which indicated robust outsourcing demand. The Sensex had declined 80.14 points or 0.45% to 17,853 on Monday, 12 April 2010.
Capital goods, auto, banking and metal stocks edged lower in today's trade. Index heavyweight Reliance Industries (RIL), too, drifted lower. Oil exploration stocks fell whereas PSU OMCs rose as crude oil prices declined. The market breadth was negative.
Stocks were volatile. The market extended initial losses to hit a fresh intraday low in morning trade on weak Asian stocks. Index heavyweight Infosys led recovery in mid-morning trade. But the intraday recovery proved short lived as the market weakened once again in early afternoon trade. The market once again recovered from lower level later.
Infosys edged higher after initial volatility. The stock jumped 3.69% to Rs 2782.35, off the day's low of Rs 2635. Infosys has reported a 2.6% growth in net profit to Rs 1,600 crore on 3.5% rise in revenues to Rs 5,944 crore in Q4 March 2010 over Q3 December 2009 as per International Financial Reporting Standards (IFRS). Infosys expects a between a 1.2% decline to a growth of 2.9% in earnings per share (EPS) on consolidated basis at between Rs 106.82 to Rs 111.28 in the year ending March 2011 (FY 2011) over the year ended March 2010 (FY 2010). But the IT bellwether expects to do better in dollar terms. It has projected a between 5.3% to 9.6% growth in earnings per American depository share (ADS) in FY 2011 over FY 2010.
The IT bellwether has given a stronger guidance in dollar terms, projecting a 16% to 18% growth in revenue at between at between $5.57 billion to $5.67 billion for the current year. In rupee terms, Infosys has given guidance of a between 9% to 11% growth in consolidated revenue at between Rs 24796 crore to Rs 25239 crore in FY 2011 over FY 2010.
Meanwhile, the stock market heaved a sigh of relief as two warring regulators on Monday, 12 April 2010, decided to maintain a status quo on unit linked insurance plans or Ulips, keeping in abeyance the orders issued by both last weekend. Ulips are products similar to mutual funds with an added life cover. A large chunk of funds raised through Ulips are invested in equities.
The finance ministry stepped in to resolve a tussle between the stock market regulator Securities & Exchange Board of India (Sebi) and insurance regulator Insurance Regulatory and Development Authority of India (Irda) on oversight of Ulips. As per reports, the government has asked the two regulators to seek a legal mandate from a court on oversight of Ulips. On Friday 9 April 2010, Sebi barred 14 insurance firms from selling Ulips without its approval, to which Irda reacted the next day by directing insurers to ignore the order.
The fourth quarter earnings of India Inc are major near term trigger for the market. This is because the Q4 March 2010 results and management commentary on outlook could result in revision in earnings estimates of India Inc by analysts for the year ending March 2011 (FY 2011).
Expectations of good fourth quarter result by India Inc and heavy foreign fund inflows boosted the domestic bourses in the past few weeks with the key benchmark indices surging to their highest level in more than 25 months on 7 April 2010.
European shares edged lower on Tuesday, with metal stocks declining after results from US aluminum giant Alcoa missed analyst estimates and as broker downgrades added pressure. The key benchmark indices in UK, France and Germany were down by between 0.11% to 0.39%.
Most Asian stocks fell on Tuesday, with raw-material producers and Japanese exporters drifting lower after Alcoa Inc.'s revenue trailed analyst estimates and the dollar weakened. The key benchmark indices in Japan, Hong Kong, South Korea, Singapore and Taiwan were down by between 0.16% to 1.08%. But, key benchmark indices in Indonesia, China and South Korea rose by between 0.02% to 1.02%.
Japan's corporate goods price index, the main gauge of wholesale prices, fell 1.3% in March from a year earlier, Bank of Japan data showed Tuesday.
Trading in US index futures indicated that the Dow could fall 20 points at the opening bell on Tuesday, 13 April 2010.
US stocks closed in positive territory on Monday, 12 April 2010, helped by a downturn in the dollar and an aid plan for Greece. The gains were, however, modest as investors exercised some caution ahead of the earnings season. The Dow managed to close above 11,000 after some late-session turbulence. It was the Dow's third straight gain and the first time it closed above that level since September 2008. The Dow Jones Industrial Average gained 8.62 points or 0.08% to 11,005.97. The Nasdaq rose 3.82 points or 0.16% to 2457.87 and the S&P 500 gained 2.11 points or 0.16% to 1196.46.
Back home, the chief economic adviser to the finance ministry Kaushik Basu said on Tuesday said that the economy is likely to have expanded 8.5% in the March 2010 quarter. Basu said the estimate was based on his back of the envelope calculation. The latest data showed that industrial output rose 15.1% in February from a year earlier, less than a rise of 16.7% in January.
Rising inflation remains a key cause for concern. A sharp surge in interest rates may adversely impact private investment demand. The government will announce the inflation data for the month of March on Wednesday, 14 April 2010. Investors have already priced a 25-basis point rate rise at the Reserve Bank of India's policy review on 20 April 2010 after it raised rates last month.
The forecast for the southwest monsoon for 2010 is another major trigger for the stock market. Good rains this year after last year's drought will boost farm output and rural incomes. But another monsoon failure will add to inflationary pressure which in turn may hamper the current strong economic rebound. The June-September monsoon season is important for India as about 60% of the country's farmlands are rain-fed and more than half of the workforce is employed in the agriculture sector.
Tokyo-based Research Institute for Global Change has predicted normal monsoon rains in India for the current year. Agriculture secretary P K Basu said in a media interview on Monday, 5 April 2010, that early signs indicate normal monsoon rains this year. The Indian Meteorological Department (IMD) issues a monsoon forecast, usually in the second half of April after considering weather observations in different parts of the world and extrapolating statistical data.
A weakening El Nino is a positive sign for the monsoon, Ajit Tyagi, director general at the India Meteorological Department, had said on 18 March 2010.
Asia and Pacific economies are recovering strongly from last year's slowdown and should coordinate on unwinding easy policy and freeing up exchange rates, the Asian Development Bank (ADB) said on Tuesday. Developing Asia, a diverse group of 45 economies including China, Azerbaijan, India, Singapore and Papua New Guinea, was set to grow 7.5% in 2010 and 7.3% in 2011, picking up from 5.2% in 2009, the ADB said in its Asian Development Outlook 2010.
The BSE 30-share Sensex fell 31.04 points or 0.17% to 17,821.96. The Sensex rose 29.78 points at the day's high of 17,892.78 in early trade. The index fell 116.91 points at the day's low of 17,736.09 in morning trade.
The S&P CNX Nifty declined 16.75 points or 0.31% to 5,322.95.
The BSE Mid-Cap index fell 0.3% and underperformed the Sensex. The BSE Small-Cap index fell 0.06% and outperformed the Sensex.
Most sectoral indices on BSE declined. Auto index (down 1.32%), Bankex (down 0.87%), Oil & Gas index (down 0.58%), Healthcare index (down 0.56%), FMCG index (down 0.45%), Consumer Durables index (down 0.45%), PSU index (down 0.45%), Metal index (down 0.3%), and Realty index (down 0.27%), underperformed the Sensex.
IT index (up 3.09%), Teck index (up 2.04%), Power index (up 0.38%), and Capital Goods index (down 0.11%), outperformed the Sensex.
BSE clocked turnover of Rs 4544 crore, higher than Rs 4275.02 crore on Monday, 12 April 2010.
The market breadth, indicating the overall health of the market, was negative. On BSE, 1355 shares advanced as compared with 1531 that declined. A total of 80 shares remained unchanged.
Among the 30-member Sensex pack, 20 fell while the rest of them gained.
IT pivotals rose after Infosys' strong revenue guidance in dollar terms. India's third largest software services exporter by sales Wipro rose 2.45%. India's largest software services exporter by sales Tata Consultancy Services rose 2.8%.
Reliance Industries (RIL) fell 0.44% on profit taking after recent strong gains. RIL after trading hours on Friday, 9 April 2010, said the company will pay $1.7 billion to form a joint venture at one of the most promising natural gas deposit regions in the US with Atlas Energy, becoming the latest foreign company to invest in shale plays that are expected to be very lucrative. The firm will pick up a 40% stake in Atlas's operations in the booming Marcellus Shale, a gas project that spans parts of Pennsylvania, West Virginia and New York in the United States and which, according to some geologists, could hold enough natural gas to satisfy US demand for a decade.
Meanwhile, RIL has reportedly made four new gas discoveries at Krishna-Godavari D6 block. The company has requested the Directorate General of Hydrocarbons (DGH) for commercial approval, reports suggest.
Oil exploration stocks fell as oil fell for a fifth straight session to below $84 on Tuesday, almost erasing April's gains as a forecast increase in US crude stocks highlighted rising supplies and weak demand in the world's largest energy consumer. US crude oil for May delivery slid 80 cents to $83.54 a barrel, down 4% from an 18-month high of $87.09 hit last week. The fall in crude oil prices would result in lower realizations from crude sales for oil exploration firms. Cairn India and ONGC fell by between 0.96% to 2.89%. But Oil India rose 0.99%.
The correction in crude oil prices, however, lifted PSU OMCs. BPCL and HPCL rose by between 0.82% to 1.67%. But, Indian Oil Corporation fell 0.66%. 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.
FMCG stocks fell on profit taking. United Spirtis, Hindustan Unilever ITC and Dabur India fell by between 0.25% to 0.89%.
India's largest real estate company by sales DLF rose 0.52% after recent strong gains. The stock had gained in the past few days on reports the company has appointed an advisor to find buyers for Aman Resorts, a luxury hotel chain it had acquired in November 2007, for $400 million.
But other realty stocks fell. Indiabulls Real Estate, Unitech, HDIL fell by between 0.64% to 1.84%.
Banking stocks were mixed. India's largest private sector bank by net profit ICICI Bank fell 2.37%, with the stock sliding for the second straight day. Its ADR fell 1.66% on Monday. But, India's second largest private sector bank by net profit HDFC Bank rose 0.11%, reversing early losses.
India's largest bank by net profit and branch network State Bank of India was flat. Chairman O.P. Bhatt said recently that the bank may raise its lending and deposit rates in a couple of months. The state-owned bank will wait for the Indian central bank's monetary policy action to take a final call on interest moves, Bhatt said.
India's largest mortgage finance firm by total income Housing Development Finance Corporation fell 2.65%, with the scrip falling for the second straight day.
The Reserve Bank of India said late last week banks would determine their lending rates with reference to the base rate, effective 1 July 2010. To stabilise the system of base rate calculation, banks are allowed to change the benchmark and methodology anytime during the initial six-month period up to end December, it said.
Auto stocks fell on profit taking after recent strong gains triggered by robust March 2010 sales figures. Vehicle sales in India should grow 10-15% in the fiscal year to March 2011, an industry body said on Friday 9 April 2010. In 2009/10, a total of 1.23 crore vehicles were sold in the country, up 26.4% from the previous fiscal year, data from the Society of Indian Automobile Manufacturers (SIAM) showed.
India's largest commercial vehicle maker by sales Tata Motors fell 1.02% falling for the second straight day. The stock had jumped 4.51% on Friday after the company reported that the Land Rover brand had its best-ever monthly sales in the British market last month.
India's largest tractor maker by sales Mahindra & Mahindra fell 1.8%, with the stock falling for the second straight day. India's top small car maker by sales, Maruti Suzuki India fell 0.37%, with the scrip sliding for the third straight day. The company recently raised prices of its vehicles across different models due to higher input costs and expenses from the introduction of the new Bharat Stage IV emission norms.
India's leading bike maker by sales Hero Honda Motors fell 5.29% on turning ex-dividend for a special dividend Rs 80 per share. The company on 30 March 2010, had declared a Silver Jubilee special dividend of 4000% i.e. Rs. 80 per equity share of Rs. 2 each and fixed 15 April 2010 as the record date for the same.
But, India's second largest bike maker by sales Bajaj Auto rose 0.95%. Bajaj Auto will distance itself from the parent brand Bajaj and focus on just four motorcycle brands - Boxer, Discover, Pulsar and KTM - as well as the rear-engine three-wheeler brand, phasing out the rest, managing director Rajiv Bajaj was quoted by the media as saying last week.
From this month, 13 cities across the country have switched over to Bharat Stage IV emission norms. Following this, many carmakers, have increased the vehicle prices. With newer technology required for upgradation, auto companies had said they would have to pass on the increased cost to customers. Earlier in February 2010, following the 2% increase in excise duty on all non-oil products to 10% in the Budget, auto players had hiked prices of vehicles by up to Rs 70,000.
Automobile firms are seen reporting strong Q4 results on a healthy volume growth. However, the sector is witnessing a headwind of rising input costs. Recently, Maruti Suzuki raised car prices due to a surge in input costs and shift to new emission norms from 1 April 2010. M&M, too, hiked utility vehicles prices recently.
Metal stocks fell after aluminum major Alcoa Inc. posted sales that missed analysts' estimates. Sterlite Industries, Hindalco Industries and Hindustan Zinc fell by between 1.17% to 2.53%.
Steel Authority of India (Sail) fell 2.71%, extending recent losses after the Union Cabinet approved a 20% stake sale in state-run firm in two tranches. The sale is expected to fetch the government Rs 8000 crore ($1.8 billion) in the first sale of 10%.
But, India's largest private sector steel maker by sales Tata Steel rose 1.36%. The company said recently its sales for the fiscal year ended on 31 March 2010 rose 18% from a year ago to 6.17 million tonnes.
Capital goods pivotals were mixed. India's largest engineering and construction firm by sales Larsen & Toubro (L&T) fell 0.46% in volatile trade. The company, last week, received an order worth Rs 1,060 crore from Gujarat State Petroleum Corporation (GSPC) to build an offshore oil platform.
India's top power equipment maker by sales Bharat Heavy Electricals (Bhel) rose 1.14%. The stock had hit a 52-week high of Rs 2,570 on Friday, 9 April 2010.
Cals Refineries clocked the highest volume of 3.5 crore shares on BSE. Birla Power Solutions (1.45 crore shares), FCS Software (0.97 crore shares), City Union Bank (0.69 crore shares) and Balaji Telefilms (0.53 crore shares) were the other volume toppers in that order.
Infosys clocked the highest turnover of Rs 507.70 crore on BSE. Tata Motors (Rs 132.15 crore), Tata Motors-DVR (Rs 82.49 crore), State Bank of India (Rs 77.55 crore) and Tata Consultancy Services (Rs 76.13 crore) were the other turnover toppers in that order.
The stock market remains closed on Wednesday
Headlines for the day:
Hero Honda may face supply problems
Essar Steel may issue $500-million foreign bonds
GAIL to invest Rs15,000 crore in new pipelines by 2013
Events for the day:
Major corporate action
Ex-date for dividend of Areva T&D
Ex-date for interim dividend of Hero Honda
Results: Infosys, Essar Oil
For more events, log on to Sharekhan.com
The European shares ended flat on Monday, with banks gaining after a rescue package for Greece helped soothed some nerves over Athens' debt problems, while miners fell as metals prices retreated from earlier highs.
The US stocks closed flat, the Dow industrials closed above 11,000 for the first time in almost 19 months on Monday as expectations of solid first-quarter earnings spurred buying in financial, energy and industrial sectors.
In today's trade, the Asian markets were trading in the negative territory, except Shanghai Composite. As of writing this report, SGX Nifty was trading 16 point lower.
The most awaited event by the investors i.e. the earning season is going to kick off today, with the IT major, Infosys Technologies announcing its results. Infosys numbers should be out before the market starts. The Indian market is expected to open on a flat to negative note owing to the negative Asian cues. However, going into the session, the March quarter results of the Infosys, will set the tone for the market, while the impact of the result will be felt by the other major IT stocks as well.
In the commodity space, the crude oil prices reported losses for the fifth consecutive day, with the Nymex light crude oil for the May series fell by $0.58 per barrel, whereas in the metals space, the Comex Gold for the May series rose by $0.50 and the Comex Silver for the May series was up by $0.06 to a troy ounce respectively.
Daily trend of FII/MF investment in equities
On April 12, 2010, the FIIs were the net buyers of the Indian stocks to the tune of Rs257.70 crore, whereas the domestic mutual funds, on April 08, 2010, were the net sellers of the stocks to the tune of Rs363.90 crore.
Gail India is in talks with Interoil Corp for a possible stake in the Canadian oil firm’s proposed liquefied natural gas project in Papua New Guinea. (ET)
NTPC may soon get to allocate up to 50% of the output from its new plants to the home state, allowing it to compete with private developers. (ET)
Glenmark Pharmaceuticals has entered into an out of court settlement with GlaxoSmithKline over patent actions on doses of atovaquone and proguanil hydrochloride, the generic version of GSK’s Malarone malaria treatment tablets. (ET)
Essar Steel Holdings (ESHL), the parent company of Essar Steel, plans to raise US$500mn this month through sale of foreign bonds. (BS)
HCC has received an order worth Rs6.08bn from Director General Naval Project, Mumbai, for reconstruction and completion of Dry Dock and Associated North and South Wharves at Naval Dockyard, Mumbai. (ET)
Renault is learnt to give M&M the licensing rights to produce the Logan as part of the restructuring proposal for the joint venture. (BL)
GAIL to invest Rs150bn over the next two-three years in expanding its pipeline network to connect consumption centres. (BS)
Tata Sasol, a joint venture between Tata Steel and Sasol of South Africa, has been allocated coal blocks in Angul region of Orissa to meet the requirement of coal for its proposed coal-to-oil project. (BL)
RBI has given the Aga Khan Fund for Economic Development (Akfed) time till March 2014 to lower its stake in co-operative-turned-commercial lender Development Credit Bank. (BS)
Hydropower generator SJVN plans to invest Rs150-160bn over the next five years to take its total capacity to 6,500MW from the current 1,500MW. (BS)
Emerging as the single largest export zone in the country, RIL Jamnagar SEZ has seen its export nearly touch Rs800bn till March 2010. (BS)
Heavy Engineering Corp., plans to take up manufacturing of electric locomotives as part of its diversification initiative. (BL)
IVRCL Assets & Holdings Limited, formerly IVR Prime Urban Developers, is targeting to have assets worth Rs200bn in three years from the current asset base of Rs75bn. (BS)
The country’s industrial production was up 15.1% in February on the back of expansion in mining, manufacturing and electricity generation. (BS)
The Government has brokered a truce between the two warring financial sector regulators—SEBI and IRDA — over the supervision of ULIPs, signalling a return to normal business for the insurance industry. (ET)
The third day of spectrum auction for 3G telephony saw the all-India licence bid touching Rs43.2bn at the end of 16 rounds, ensuring that the government would get a minimum of Rs176bn. (FE)
The proposed free trade agreement (FTA) between India and Israel would boost trade and economic ties. Post FTA, the trade volume is expected to triple to US$12bn. (ET)
The RBI fixed the limit for issuing bonds under the Market Stabilisation Scheme (MSS) to Rs500bn for 2010-11. (BS)
The mutual fund industry witnessed a net inflow of Rs830bn as against a net outflow of Rs283bn in FY09. (BS)
However beautiful the strategy, you should occasionally look at the results - Sir Winston Churchill.
The occasion is here; its Infosys results after all. Will the market celebrate? We'll know in a few minutes. The market never fails to surprise; just when one thought the NSE Nifty could surpass 5400 with some ease, it changed direction and headed south. Today it could even fall below 5300 unless Infosys manages to turn the tide. A special dividend could be a temporary boost too.
Markets in the US and Europe finished flat. Asian markets are mostly in the red. Eurozone’s emergency loan package for Greece failed to inspire the bulls. What’s worse, the SEBI-IRDA standoff over ULIPs clouded the sentiment. The good news is that status quo has been maintained on ULIPs. The two regulators will now seek a legal verdict.
We expect a flat to lower opening. The key indices are likely to remain sideways and rangebound. Infosys numbers should be out before the market starts. So, there is a possibility that the mood might change once the IT bellwether’s results and guidance are out. Infosys is expected to post 1-2% QoQ growth in Q4 PAT and Revenues. It’s the company's outlook for FY11 that everyone is keenly awaiting. Broadly, the undertone will be cautiously optimistic. Non-index counters may remain abuzz but don’t take undue risks for now.
Inflows from overseas investors have started to taper off a bit. FIIs were net buyers of only Rs144.1mn on Monday on a provisional basis. Local funds were net sellers of Rs1.92bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers of Rs5.06bn. On Friday, FIIs were net buyers of Rs2.58bn in the cash segment, as per the SEBI web site.
Other companies announcing earnings today are: Blue Dart, Essar Oil and Mastek.
US stocks registered moderate gains on Monday, with the Dow Jones Industrial Average closing above 11,000 for the first time in 18 months, after eurozone leaders announced details of the financial aid to Greece, softening fears that the nation might have to default on its debt.
The Dow added 8 points or 0.1%, finishing at 11,005.97, the highest close since Sept. 26, 2008, when it ended at 11,143.13. The S&P 500 index gained 2 points, or 0.2%, ending at 1196.48, an 18-month high. The Nasdaq edged up 4 points, or 0.2%, to 2,457.87, the highest finish since June 19, 2008.
Treasury prices rallied, lowering the yield on the 10-year note to 3.85% from 3.89% late on Friday. The 10-year had risen as high as 4% on Monday, an 18-month high.
The dollar fell versus the euro and gained against the yen.
COMEX gold for June delivery rose $3 to settle at $1,162.20 per ounce.
US light crude oil for May delivery fell 58 cents to settle at $84.34 a barrel on the New York Mercantile Exchange.
US stocks had closed higher on Friday at the end of another up week for stocks. The market has risen in seven of the last eight weeks as economic confidence has replaced jitters about a global slowdown that felled markets in January.
Both the Dow and S&P 500 stand at roughly 18-month highs, while the Nasdaq stands at the highest point in nearly two years.
Over the weekend European leaders agreed to offer loans to Greece, helping to ease worries that rising debt in that nation and other countries in the region might curb the global economic recovery and weaken the euro.
The 16 countries that use the euro agreed to provide a collective $40 billion, while the IMF agreed to kick in $13.5 billion. The loans, should Greece choose to access them, would have interest rates that are lower than what lenders had been requiring in recent days to hold Greek debt.
On April 8, Greece's borrowing costs hit an all-time high as investors worried the country might default.
Greece is seen as a test case and investors are worried that a default there could exacerbate problems in other debt-burdened nations. Greece is one of the so-called PIIGS, along with Portugal, Ireland, Italy and Spain.
Greece has not yet asked for the aid to be delivered amid hopes that it will be able to return to the bond market.
Activity on the corporate M&A front also bolstered sentiment, with Mirant Corp. agreeing to acquire rival power firm Reliant Energy Inc. for $1.61 billion and military contractor DynCorp International getting taken out by private-equity firm Cerberus Capital Management.
After the close, Dow component Alcoa ignited the quarterly reporting period. The aluminum maker posted earnings of 10 cents per share versus a loss of 59 cents a year earlier, meeting the expectations of analysts. Alcoa reported revenue of $4.89 billion versus $4.147 billion a year ago. Analysts expected revenue of $5.238 billion.
First-quarter earnings are expected to have risen 37% versus the prior year, while revenue is expected to have risen 10%, according to Thomson Reuters.
Gains are expected to be driven by financials, materials and consumer discretionary. Intel reports results on Tuesday, while General Electric Co. (GE), Google, JPMorgan Chase and Bank of America are due later in the week.
Stocks in Europe edged slightly lower, as details about the loan package to Greece helped banks rise, while the media and metals sectors lost ground. After having ended higher for a sixth straight week on Friday, the Stoxx Europe 600 index slipped 0.1% to 269.49.
At the regional level, the German DAX index finished flat at 6,250.69 and the French CAC 40 index ended virtually unchanged as well at 4,050.50, while the UK's FTSE 100 index gained 0.1% to 5,777.65.
With credit-default swaps on Greece falling sharply and the euro climbing, shares of Greek banks shot higher.
In Warsaw, the WIG 20 index rose 1% to 2,578.66 and the zloty gained in the aftermath of the weekend deaths of Poland's president and numerous other senior officials.
A volatile trading session ended with losses on Monday, starting off the week with a negative bias, as SEBI and IRDA continued their slugfest over the jurisdiction for ULIPs. Markets opened higher due to firm global cues in the wake of the announcement of details of the rescue package for Greece. However, "the uncertainty surrounding the ULIP controversy coupled with lower than expected industrial production data had their ill-effects on sentiment", says Amar Ambani VP Research IIFL.
The Capital Goods, Auto and the Banking stocks were among the major losers, even the Mid-Cap index ended in the red. On the other hand, the FMCG and Realty stocks were in demand even the Small-Cap stocks attracted buying.
Finally, the BSE Sensex slipped 80 points to end at 17,853 and NSE Nifty lost 22 points to close at 5,339. Among the 30 components of Sensex, 18 ended in the negative terrain and 12 were in the green.
By the close of trade, markets in Asia and Europe had erased some of the initial gains. Asia markets ended in the green, the Nikkei in Japan gained 0.4%, Australia's S&P/ASX edged higher by 0.7%. Shanghai SE Composite ended lower by 0.5% and Hang Seng index in Hong Kong was down 0.3%.
European indices also were flat, the DAX in Germany, the CAC 40 index in France and the FTSE in the UK all were flat.
Coming back to India, among the BSE sectoral indices, the BSE Capital Goods index was top loser, the index lost 1.2%, followed by BSE PSU index down 0.9% and Banking index down 0.8%.
Among the top gainers were, BSE realty index up 0.7% and BSE FMCG index up 0.7%.
Outside the frontline indices, the big losers in the broader market were Balrampur Chini, Zee Ent, Jet Airways and Jai Corp. On the other hand, losers included Allahabad Bank, BOB, Central Bank and Jubilant Org.
IntraSoft Technologies, which operates the website www.123greetings.com, commenced trading at Rs150 per share as against its issue price of Rs145. Towards the end; the stock closed at Rs159 translating into premium of 9.5%.
The IPO of IntraSoft received a remarkable response from investors and was subscribed 18.15 times. The QIB portion was subscribed 21.97 times, while HNI & Retail portion was subscribed 17.47 and 13 times. The issue had constituted 25.12% of the fully diluted post issue paid up equity share capital of the company. The face value of equity shares of Rs10 and the issue price is 14.5 times of the face value.
The proceeds from the IPO will be used fund the company’s requirements for branding & promotion, purchasing a corporate office in Kolkata, investment in technology infrastructure and for general corporate purposes. Collins Stewart Inga Private Limited and Anand Rathi Advisors Limited were the Book Running Lead Managers to the issue.
Shares of Reliance Industries ended flat at Rs1125. The company over the weekend announced that it agreed to buy a US$1.7bn stake in natural-gas properties from Atlas Energy Inc. The Atlas Energy deal would see Reliance paying upfront US$339mn for its 40% stake, which will be followed by US$1.36bn out of Atlas’ share of exploration expenditure over a period of seven-and-a-half years.
IVR Prime announced that the board of directors of the company will meet on April 14 to consider fund raising plans. The stock gained 1.5% to end at Rs179, it opened at Rs179 it touched an intra-day high of Rs182 and a low of Rs175 and recorded volumes of over 47,000 shares on BSE.
Shares of Rana Sugars erased early gains and ended in the red, the stock lost 0.2% to end at Rs13.02. The stock shot up by over 5% to hit an intra-day high of Rs14.09 after the company reported a profit of Rs309.3mn in the second quarter, compared with a loss of Rs37.1mn a year earlier.
Gold manages to touch fresh four month high
Precious metal prices ended higher on Monday, 12 April 2010. Prices rose on anticipation of higher demand and as the dollar weakened.
Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa.
On Monday, gold for June delivery ended at $1,162.2 an ounce, higher by $0.30 (0.3%) an ounce on the New York Mercantile Exchange. During intra day trading, gold reached a high of $1,170.7. This was fresh four-month high level reached by the yellow metal. Last week, gold ended higher by 3.2%. In FY 2010, gold touched a high of $1,154 in January. For the month of March, gold slid 0.4%. For the first quarter of this year, gold rose by 1.7%, its sixth quarterly rise. On a year to date basis, gold is higher by 6.1%.
On Monday, May Comex silver futures ended higher by 6 cents (0.3%) at $18.41 an ounce. Last week, silver gained 2.6%. For the month of March, silver ended higher by 5%. For the first quarter of this year, silver rose by 3%. On a year to date basis, silver is higher by 7.9%.
In the currency market on Monday, the dollar index, which measures the strength of the dollar against basket of six other currencies fell by almost 0.5%. The euro rose against the greenback as the European countries decided to provide a lifeline to Greece over the weekend. The euro rose to three week high against the dollar. The dollar index gained about 0.7% in March and rallied 4% during the first quarter. The dollar index has gained 4.5% this year till date.
Last Friday, Fitch Ratings had downgraded Greece's credit ratings to the lowest ring of investment-grade ratings, BBB minus.
Also on Monday, Goldman Sachs lowered its 2010 forecast for gold prices to $1,165 an ounce and its 2011 forecast to $1,350 an ounce. The investment bank in December had forecast gold at an average price of $1,265 an ounce in 2010 and a 2011 average price forecast of $1,425 an ounce.
Gold had ended FY 2009 higher by 24%. Silver futures had ended 2009 up 50%. The dollar index had lost 4.2% against its counterparts last year.
At the MCX, gold prices for June delivery closed higher by Rs 81 (0.48%) at Rs 16,906 per ten grams. Prices rose to a high of Rs 16,977 per 10 grams and fell to a low of Rs 16,834 per 10 grams during the day's trading.
At the MCX, silver prices for May delivery closed Rs 103 (0.37%) higher at Rs 27,847/Kg. Prices opened at Rs 27,768/kg and rose to a high of Rs 28,230/Kg during the day's trading.
Prices fluctuate due to inventory concerns and weak dollar
Crude oil prices dropped for the fourth straight day on Monday, 12 April 2010. Prices pared all its early gains and ultimately ended lower. Prices fluctuated throughout the day as some traders anticipated that tomorrow's weekly inventory report would show rise in crude inventories. On the other hand, dollar also fell.
On Monday, crude-oil futures for light sweet crude for May delivery closed at $84.34/barrel (lower by $0.58 or 0.7%). During intra day trading, prices rose to a high of $85.71. Last week, crude ended higher by just 0.6%. For the month of March, crude rose 5.1%. For the first quarter of this year, crude rose by 5.5%. Year to date, crude is higher by 6.1%.
Prices are still very much lower as compared to 3 July, 2008 settlement of $145.29 a barrel and an intraday high of $147.27 on 11 July, 2008, an all-time high. However, oil has also gained nearly 155% from a December 2008 nadir. That day prices settled at $33.87 a barrel following an intraday low of $32.40.
In the currency market on Monday, the dollar index, which measures the strength of the dollar against basket of six other currencies fell by almost 0.5%. The euro rose against the greenback as the European countries decided to provide a $60 billion lifeline to Greece over the weekend. The euro rose to three week high against the dollar. The dollar index gained about 0.7% in March and rallied 4% during the first quarter. The dollar index has gained 4.5% this year till date.
Last Friday, Fitch Ratings had downgraded Greece's credit ratings to the lowest ring of investment-grade ratings, BBB minus.
Market is expecting tomorrow's weekly inventory report to show that crude stockpiles will increase by 1.6 million barrels, while gasoline stocks will be down by 1.26 million barrels for last week. Distillates stocks, which include heating oil and diesel, are expected to be up by 1 million barrels.
Among other energy products, gasoline for May delivery added a penny, or 0.3%, to $2.29 a gallon. Heating oil for May delivery declined by a penny, or 0.3%, to $2.21 a gallon.
Elsewhere, natural gas for May delivery declined 6 cents, or 1.5%, to $4.0080 per million British thermal units. The contract hit an intraday high of $4.18 per million Btus. The morning bump for natural gas prices came on the back of updated temperature forecasts that suggest this week's government report on storage levels may come in below average.
Crude ended FY 2009 higher by 78%, the highest yearly gain since 1999. It reached a high of $82 earlier in October 2009 and hit a low of $33.98 on 12 February 2009. Crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex.
At the MCX, crude oil for April delivery closed higher by Rs 6 (0.16%) at Rs 3,758/barrel. Natural gas for April delivery closed at Rs 177.2/mmbtu, lower by Rs 3.9 (2.15%).
Investors with a short-term trading perspective can consider buying the stock of Television Eighteen India. This stock was in a medium-term down-trend since last June. This down-move resulted in the stock giving up most of the gains recorded since the March 2009 trough. The stock however getting strong support in the zone between Rs 69 and Rs 72; it has managed four upward reversal from this area since November last year.
Another such up-move is currently in progress since the trough of Rs 72 formed on March 26. Simple extrapolation of this up-move implies that the stock could move at least 5 per cent higher from these levels. The daily moving average convergence divergence oscillator and the rate of change oscillator have moved well in to the bullish zone. The 14-day relative strength index is however in the overbought region at 72. Short-term investors can buy the stock with stop at Rs 82. Targets for this time-frame are Rs 86 and Rs 88.