Wednesday, August 25, 2010
Turnover rises as rollover gathers steam
Nifty August 2010 futures were at 5464.95, at a slight premium over spot closing of 5462.35. Nifty September 2010 futures were at 5469.30, at a premium of 6.95 points over spot closing of 5462.35. The near-month August 2010 derivatives contracts expire on Thursday, 26 August 2010.
Gets bids for 79.85 crore shares
The initial public offer (IPO) of Gujarat Pipavav Port was subscribed 7.23 times by 17:00 IST, on the last day of the bidding for the issue by the qualified institutional buyers today, 25 August 2010, NSE data showed. The bidding for the issue by retail investors and non-institutional bidders ends tomorrow, 26 August 2010. Investors put in bids for a total of 79.85 crore shares, compared with 11.04 crore shares on offer.
On the penultimate day of the expiry of the August derivative series, markets ended in the red for the second consecutive day on the back of weak global cues. Sensex lost 132 points to close at 18179 while Nifty finished at 5462, down 42 points. BSE Mid-cap and Small-cap indices lost 1.4% each. European markets were trading lower by half a percent while US stock indices futures were marginally in the read ahead of data on new home sales, durable goods order, mortgage application and house price index.
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
25/8/2010 513513 Aditya Ispat NARESH CHAND JAIN B 26579 9.92
25/8/2010 513513 Aditya Ispat AMIT TOMER B 36680 9.83
25/8/2010 513513 Aditya Ispat NARESH CHAND JAIN S 26579 9.87
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
25-AUG-2010,BIL,Bhartiya Intl Limited,MANSUKH SECURITIES & FINANCE LIMITED,BUY,46939,122.30,-
25-AUG-2010,INDSWFTLAB,Ind-Swift Labs Ltd.,HEENA VORA,BUY,232614,121.14,-
25-AUG-2010,INDSWFTLAB,Ind-Swift Labs Ltd.,MBL & COMPANY LTD.,BUY,156305,121.05,-
The key benchmark indices edged lower, extending Tuesday's slide, in what was a choppy trading session. Volatility surged as traders rolled over positions in the derivatives segment from the near-month August 2010 series to the September 2010 series ahead of the expiry of the August 2010 contracts tomorrow, 26 August 2010. The BSE 30-share Sensex was down 131.95 points or 0.72%, off close to 130 points from the day's high and up close to 25 points from the day's low. Concerns over the pace of the global economic recovery continued to hurt sentiment.
Weak housing data imparts glaze to precious metals
Bullion metal prices ended higher on Tuesday, 24 August 2010 at Comex. Worse than expected housing data pushed US stocks substantially lower on Tuesday thereby increasing the appeal of precious metals as an alternate investment. Prices also rose as dollar erased earlier gains and ended almost flat. Precious metals were the only ones among commodities to end higher today.
Prices drop as housing data disappoints
Crude prices dropped on Tuesday, 24 August 2010. Prices fell in tandem with US stocks after housing data checked in worse than expected and once again hinting the pace of global recovery.
Weakness in global markets may continue to weigh on the domestic bourses. There are fears the global economic recovery may derail following series of poor economic data from the US. Trading of the S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could fall 19.50 points at the opening bell. In the derivatives segment, the near-month August 2010 derivatives contracts expire on Thursday, 26 August 2010
The Sensex slipped 98 points to close at 18,312, the index hit an intra-day high of 18,452 and an intra-day low of 18,261. While, NSE Nifty lost 40 points to close at 5,503.
Among the BSE sectoral indices, the BSE Realty index was the top loser, the index lost 2.7% followed by BSE Metal index down 2% and BSE Power index down 0.8%. Even the BSE Mid-Cap and the Small-Cap index ended lower by 0.7% each. Among the major gainers were, BSE FMCG index up 0.4% and BSE Consumer Durables index up 0.3%.
Vedanta Resources failed to get environmental clearance for its US$1.7bn bauxite mining project in the Niyamgiri hills of Orissa. (BS)
Piramal Healthcare may go in for development of a residential project or business hub on the 40 acres prime land in Thane. (BS)
US stocks declined, sending the Standard & Poor’s 500 Index to a seven-week low, as a record plunge in home sales cast further doubt on the viability of the economic recovery. The NASDAQ, Dow Jones and S&P 500 slipped 1.83%, 1.32% and 1.45%, respectively Boeing Co., Alcoa Inc. and Caterpillar Inc. lost at least 2.7% to lead declines in the Dow Jones Industrial Average. Dell Inc. tumbled 3% amid reports it will increase its offer for 3Par Inc. Pfizer Inc. dropped 1.7% after its cancer treatment Sutent failed to improve overall survival in patients with a form of lung cancer.