Tuesday, August 17, 2010
Indian equities continued to fall for the second day on Tuesday. The markets ended on a flat note with negative bias amid volatility. On sectoral front, IT, capital goods and power stocks edged lower, while banking, realty and PSU gained. It opened on a quiet note on the back of subdued Asian cues and continued to trade in a sluggish manner the entire day. Finally, the Sensex ended marginally lower after touching a low of 18,026 and high of 18,140.15. In the domestic front, India`s exports in July grew an annual 13.2% to USD 16.24 billion while the imports rose 34.3% to USD 29.17 billion.
Benchmark indices closed absolutely flat after a choppy trading session. Sensex closed at 18048, down 2 points while Nifty lost 4 points to finish at 5414. Broader market however, outperformed, as depicted by BSE Mid-cap and Small-cap indices that gained 0.6% and 0.3% respectively. European markets were up about a percent while US stock indices futures were up about half a percent ahead of reports on housing starts, building permits, industrial production and producer price index.
Weak US economic data continues to keep buying under check
Asian markets were mixed with a modicum of gains emerging in select indices as weak US economic data and lackluster overnight cues kept the movement sluggish. The major indices had opened the week on a bleak note yesterday and failed to generate much of a buying interest as investors waited for some clarity. DOW futures did shoot up in the late Asian trades, following dollar's slide to 1.2900 but by that time it was too late for the regional indices to make way for any synchronized rush upwards. Wall Street indices closed flat on poor housing and manufacturing data though bargain hunting made the stocks end the four-day losing streak.
Today's major news
Mahindra Satyam soars on winning case against Upaid; the stock closes 2.34% higher
Cox and Kings raises $65 million via global depository receipt; the stock ends 3.56% lower
India's July exports up 13.2% yoy
Royal Orchid Hotels rose 2.24% to Rs 82.15 at 11:22 IST after the firm said its board will meet on 19 August 2010, to consider raising funds.
The announcement was made after market hours on Monday, 17 August 2010.
The key benchmark indices ended almost unchanged in range bound trade, with worries over global economic recovery capping gains. Nevertheless, investors' stock-specific approach ensured a decent-to-strong rally in a number of individual scrips. European stocks and US index futures edged higher. Index heavyweight Reliance Industries (RIL) edged lower in volatile trade. FMCG stocks rose. But, IT stocks fell. The market breadth was negative in contrast to a strong breadth earlier in the day. The BSE 30-share Sensex was down 1.93 points or 0.01%, up close to 25 points from the day's low and off close to 85 points from the day's high.
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
17/8/2010 530713 Ajel Info AADESH COMMODITIES PRIVATE LIMITED B 85000 28.80
17/8/2010 530713 Ajel Info ANGEL VENTURES PRIVATE LIMITED S 96000 28.80
17/8/2010 530713 Ajel Info ARIKATLA SRINIVASA REDDY S 150000 28.80
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
17-AUG-2010,BANKRAJAS,Bank Of Rajasthan Ltd,M/S MERRILL LYNCH CAPITAL MARKETS ESPANA SA SV,BUY,1156400,201.00,-
17-AUG-2010,CORDSCABLE,Cords Cable Industries Li,NIKUNJ K SHAH,BUY,59920,51.77,-
17-AUG-2010,FCSSOFT,FCS Software Solutions Li,HI-GROWTH CORPORATE SERVICES PVT. LTD.,BUY,6674012,2.64,-
17-AUG-2010,FCSSOFT,FCS Software Solutions Li,SONAL SHARES INVESTMENT & COMPANY (PROP- MEET SUMANBHAI PAT,BUY,9215475,2.79,-
17-AUG-2010,HINDMOTOR,Hindustan Motors Ltd.,TRANSGLOBAL SECURITIES LTD.,BUY,1038823,27.28,-
17-AUG-2010,SAREGAMA,Saregama India Ltd.,SHARE INDIA SECURITIES LIMITED,BUY,74245,117.19,-
17-AUG-2010,SKSMICRO,SKS Microfinance Ltd,SLOANE ROBINSON LLP,BUY,401196,1131.27,-
17-AUG-2010,TIPSINDLTD,Tips Industries Limited,PASHA FINANCE PVT LTD,BUY,72203,46.65,-
17-AUG-2010,TIPSINDLTD,Tips Industries Limited,TIPS INDUSTRIES LIMITED BUY BACK OF EQUITY SHARES ACCOUNT,BUY,270000,47.68,-
17-AUG-2010,ANKURDRUGS,Ankur Drugs And Pharma Li,HINDUSTAN COMPOSITIES LTD.,SELL,203754,119.35,-
17-AUG-2010,CORDSCABLE,Cords Cable Industries Li,NIKUNJ K SHAH,SELL,59920,51.46,-
17-AUG-2010,FCSSOFT,FCS Software Solutions Li,HI-GROWTH CORPORATE SERVICES PVT. LTD.,SELL,6620012,2.66,-
17-AUG-2010,FCSSOFT,FCS Software Solutions Li,SONAL SHARES INVESTMENT & COMPANY (PROP- MEET SUMANBHAI PAT,SELL,9215475,2.74,-
17-AUG-2010,HINDMOTOR,Hindustan Motors Ltd.,TRANSGLOBAL SECURITIES LTD.,SELL,1038823,27.34,-
17-AUG-2010,SAREGAMA,Saregama India Ltd.,SHARE INDIA SECURITIES LIMITED,SELL,74245,117.11,-
17-AUG-2010,SURANAT&P,Surana Telecom and Pow Lt,CORUM SECURITIES PVT. LTD.,SELL,200000,19.65,-
17-AUG-2010,SURANAT&P,Surana Telecom and Pow Lt,PILOT CONSULTANTS PRIVATE LIMITED,SELL,195778,20.48,-
17-AUG-2010,TIPSINDLTD,Tips Industries Limited,PASHA FINANCE PVT LTD,SELL,241329,47.80,-
Prices drop to five-week low
Crude oil prices dropped once again and ended at its lowest level in five weeks on Monday, 16 August 2010. Prices dropped due to weak economic data that hinted towards the pace of global economic recovery.
The market may open flat to slightly lower on mixed Asian stocks. Trading of the S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could see a flat opening.
India's second-biggest lender ICICI Bank will raise its prime lending rate by 50 basis points from 18 August 2010, it said in a statement. The bank will increase its prime lending rate to 16.25%, the statement said.
Vedanta Resources has agreed to acquire a majority stake in energy explorer Cairn India for up to US$9.6bn in cash. (ET)
A four-member panel appointed by the Union ministry of environment and forests (MoEF) has told MEF it would be illegal to allow Vedanta-owned Sterlite Industries to conduct bauxite mining operations on the Niyamgiri hills at Kalahandi district in Orissa. (BS)