Thursday, June 10, 2010
Nifty June 2010 futures were at 5,090, at a premium of 11.40 points compared to the spot closing of 5078.60. Turnover in NSE's futures & options (F&O) segment was Rs 87,922.32, lower than Rs 93,058.52 crore on Wednesday, 9 June 2010.
Hindalco Industries June 2010 futures were at a slight premium at 139.60 compared to the spot closing of 139.
Tata Steel June 2010 futures were at a slight premium at 473.50 compared to the spot closing of 472.95.
State Bank of India June 2010 futures were at discount at 2323 compared to the spot closing of 2329.60.
In the cash market, the S&P CNX Nifty rose 78.30 points or 1.57% at 5,078.60.
Bearing China, most of the regional benchmarks add decent gains
The Asian stocks recorded decent gains today as strong economic data along with a modest retreat in the US dollar pepped up the sentiments. Positive trade data from China supported the sentiments, notwithstanding the weak closing in Wall Street in the overnight trades. The commodity prices were mostly higher. Markets also eyed an impressive undertone in the Dow futures, which gained more than 100 points in the electronic session, indicating that the US markets might record some smart gains at the open today. However, the dollar rose in the late trades as the central banking action in Europe drew closer.
Indian equities continued to rally for the second day on Thursday. The Sensex wrapped the day on a buoyant note on the back of strong European market. All sectoral indices were in green. Auto and metal stocks rallied followed by realty, teck, healthcare and power. Moreover, Japan`s GDP rose at an annualized 5% rate in the three months ended March 31 faster than the 4.9% reported last month. Further positively trading US index futures aided our markets to remain in green.
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
10/6/2010 532975 Aishwarya Tele APARNA NARAYAN S 115000 28.25
10/6/2010 532166 Alka Securities KAUSHIK S SHAH S 569461 4.09
10/6/2010 531179 Arman Fin Serv KIRITKUMAR VRAJRATAN PARIKH S 30000 27.95
10/6/2010 533163 Arss Infra Proj SMART EQUITY BROKERS PRIVATE LIMITED B 77695 1194.93
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
10-JUN-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,94015,1203.67,-
10-JUN-2010,AUSTRAL,Austral Coke & Projects L,SAAKSHI SHARES PVT.LTD.,BUY,3019678,7.37,-
10-JUN-2010,GLORY,Glory Polyfilms Limited,HANSABEN HASMUKHBHAI AMIN,BUY,399024,16.21,-
10-JUN-2010,INSECTICID,Insecticides (India) Limi,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,121275,182.16,-
A rebound in European stocks aided a rally on the domestic bourses, which extended gains for the second consecutive session. All the sectoral indices on BSE rose, with auto, metals and realty indices at the forefront of the rally. Telecom stocks also rose across the board. The BSE 30-share Sensex jumped 264.19 points or 1.59%.
Cautionary statements from the Fed Chairman affect stocks
US stocks made a strong start earlier during the day on Wednesday, 09 June 2010 but cautionary statements from the Fed Chairman, Ben Bernanke led stocks run out of gas in the second half of trading. What was earlier viewed as a strong day for Wall Street, turned out to another dull day as stocks. The dollar also remained weak today. Higher crude prices also failed to come to Wall Street's rescue.
The pan-India bid license for broadband wireless access (BWA) spectrum touched Rs12,257 crore on Wednesday (June 09, 2010), after two weeks of auction, which translates into a revenue of Rs36,772 crore for the government from the sale of three slots.
You know my appetite is infinite and greed is more: FM Pranab Mukherjee
The Finance Minister's appetite is not for the stock market; his greed lies in looking beyond the set target for income tax collections this fiscal. Phase out of tax exemptions and widening of the tax base are on the agenda. The 3G revenues and likely stake sale in government companies could well help the government contain the fiscal deficit.
Prices rise due to drop in crude stockpiles and weak dollar
Crude oil prices ended substantially higher on Wednesday, 09 June 2010 at Nymex. Prices rose due to the weak dollar and unexpected drop in crude inventories for last week.
The key benchmark indices may extend Wednesday (9 June 2010)'s gains tracking higher Asian stocks. Trading in S&P CNX Nifty index futures on the Singapore stock exchange indicated that the Nifty could rise 3 points at the opening bell. The government will unveil data on some wholesale price indices for the year through 29 May 2010 viz. the food price index, the primary articles index and the fuel price index at about 12:00 IST today.
Prices drop as Chinese data show more exports
Bullion metal prices ended lower on Wednesday, 09 June 2010 at Comex. Prices fell following reports that exports from China were much more than expected in May 2010. The stronger euro also took a toll on precious metal's health.
SBI plans to raise Rs200bn through a rights issue by the end of the fiscal year. (ET)
Reliance Industries is likely to enter the telecom space when the opportunity arises. (ET)
S&P lowers Bharti long-term corporate credit rating to BB+ from BBB-. (BS)
It was yet another day where we danced to the global tune. After a two day decline, the Indian markets managed to end with modest gains on Wednesday amid highly volatile trading session. Markets started off with a slight positive bias and went on to surge hitting day’s high. The early upswing was on account of overnight gains in the US and a smart bounce back in the Hang Seng index in Hong Kong.
"Sentiment however took a hit and the benchmark indices tumbled from day’s high in afternoon session as market players reacted sharply to a fall in European shares", says Amar Ambani Vice President Research IIFL.
DEVELOPMENT CREDIT BANK LIMITED
ANNUAL REPORT 2009-2010
The year 2009 was one of the most difficult years in living memory for most
economies of the world. India, however, continued to remain robust
recording the second highest rate of growth after China. Cautious monetary
management in India helped steer the banking system away from the excesses
witnessed elsewhere and though credit off-take weakened, the system
remained in good shape.
We recommend a ‘buy' in Nahar Industrial Enterprises from a short-term trading perspective. The stock is in a medium-term downtrend since the January peak of Rs 88.7. As this downtrend is already five months old, it could be close to termination. The stock is currently poised at key support zone between Rs 55 and Rs 60 that occurs close to 38.2 per cent retracement of its up-move from the March 2009 low.
That the stock rebounded 5 per cent from this zone on Wednesday implies a positive short-term bias. The 14-day relative strength index reversed higher on Wednesday and is trying to move away from the bearish zone. The 10-day rate of change oscillator moved above the zero line in the last session.
However, as the medium-term trend continues to be down, this call is meant only for those traders who have a greater penchant for risk. The stock can be bought with the stop-loss at Rs 57. Short-term targets for the stock are Rs 62 and then Rs 65