Thursday, August 19, 2010
Benchmark indices surged more than a percent for the second consecutive day and closed at a new intermediate high. Sensex closed at 18454, up 198 points while Nifty gained 61 points to settle at 5540, the highest close after 18th January 2008. BSE mid-cap and small-cap indices gained 0.9% and 0.8% respectively. Food inflation for the week ended August 7 came in at 10.35% versus 11.40% for the week ago while Primary Article inflation dipped to 14.85% as against 15.66%. Fuel inflation stood at 12.57% versus 12.66%. Cement stocks were on fire on the back of reports of price hike while Unitech slipped on account of exclusion from the MSCI India index. European markets were up about half a percent while US stock indices future too were higher by similar percentage ahead of initial jobless claims and leading indicator data.
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
19/8/2010 532975 Aishwarya Tele PRUDHVI RAJ KUMAR YADIKI B 142151 29.84
19/8/2010 532975 Aishwarya Tele PARMESHWAR HUGER S 160000 29.38
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
19-AUG-2010,AEGISCHEM,Aegis Logistics Ltd,SAPPHIRE COMMERCIAL PVT.LTD.,BUY,104336,314.49,-
19-AUG-2010,ARCHIES,Archies Limited,FE SECURITIES PVT. LTD.,BUY,66803,131.06,-
Nifty August 2010 futures were at 5,529, at a discount of 11.20 points to the spot closing of 5,540.20. The near-month August 2010 derivatives contracts expire next Thursday, 26 August 2010. Nifty September 2010 futures were at 5,536, at a discount of 4.20 points to the spot closing of 5,540.20.
Bulls were in command as the key benchmark indices achieved highest closing levels in more than 2-1/2-year highs, as the latest data showed easing of food and fuel inflation in early August 2010, which may reduce the pressure on the central bank for further monetary action to rein in inflation. The BSE 30-share Sensex jumped 197.82 points or 1.08%, up close to 180 points from the day's low and off close to 20 points from the day's high. Data showing sustained buying by foreign funds, underpinned sentiments. Firm Asian stocks also supported domestic bourses.
Markets test patience and reward conviction
A choppy session ended on a good note on Wednesday. But conviction seems to be lacking at these levels. A flat start is what we expect. Thereafter, the market will react to the news flow of the day and of course global cues.
Just when we though that it was time for the bears to take charge, bulls were back all of a sudden. Looks like the Indian market are on another planet these days, and today was another classic illustration of that unusual trend that has caught most participants off guard.
Tata Motors may issue more shares under the differential voting rights (DVR) banner for raising funds. (BS)
Alcatel Lucent is in discussions with various service providers, including Reliance Industries and Tikona Digital Networks, to provide infrastructure for mobile broadband services. (BS)
Indices pare most of their intra day gains but manage to end higher
US stocks started the day in the red on Wednesday, 18 August 2010. A modest rally among the technology stocks coupled with strength in the financial sector helped pull the major averages out of their midmorning weakness and stocks started trading with modest gains. Despite their leadership, the rally faded into the close for the second straight session.
Gold shines but silver turns pale
Bullion metal prices ended mixed on Wednesday, 18 August 2010 at Comex. Gold prices ended marginally higher while silver prices slipped. Prices fluctuated due o a steady dollar.
Drop in inventories keep price rise under check
Copper prices ended almost unchanged on Wednesday, 18 August 2010. Stronger dollar and declining LME inventories pushed the appeal of commodities as a hedge against inflation lower.
Prices drop as crude inventories drop less than expected
Crude prices dropped again but managed to pare its losses partly on Wednesday, 18 August 2010. Prices fell after energy department reported less than expected drop in crude inventories for last week. Lower dollar also aided in crude paring losses.