Saturday, July 31, 2010
Today's major news
Reliance Natural Resources Q1 net profit dips 42% yoy; the stock closes 1.54% down
Bharat Petroleum Corporation Q1 net loss at Rs1,718.10 crore; the stock closes 0.53% higher
Hindustan Construction Company spurts on good Q1 results, bonus issue; the stock closes 3.80% higher
Stock-specific activity is likely to continue in the near term based on first quarter result announcement or expectations about first quarter results of individual firms. Many front line companies such as State Bank of India, Bharti Airtel, Tata Motors and Tata Steel, are still to announce their results.
Stocks lost ground during the last week of July 2010 as the central bank increased interest rates to control inflation. Sustained buying by foreign funds, revival of monsoon rains and latest data showing easing of food inflation, however, prevented a sharp decline.
Foreign funds continue to mop up Indian stocks. Foreign funds have bought shares worth a net Rs 8109.64 crore this month (till 29 July 2010), absorbing selling by domestic institutional investors. Domestic funds have sold shares worth a net Rs 6193.15 crore this month (till 29 July 2010), as per data from the stock exchanges.
The key benchmark indices edged lower as global stocks fell on weak economic data. The BSE 30-share Sensex fell 123.71 points or 0.69%, off close to 130 points from the day's high and up close to 30 points from the day's low. Realty, FMCG, capital goods and IT stocks fell. Index heavyweight Reliance Industries (RIL) gave up initial gains. The market breadth turned negative in contrast to a strong breadth earlier in the day.
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
30/7/2010 514274 Aarvee Denims ANUJASHISHSHAH B 120000 64.25
30/7/2010 514274 Aarvee Denims VIRENDRA BHOGILAL HUF S 120000 64.25
30/7/2010 500003 Aegis Logistics WELL MGT CO LLPA/C THE WTC NAM COLL INVST FDS TR OPPORTUNISTIC EQ B 600000 470.00