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Tuesday, May 31, 2011

Market may gain on firm Asian stocks;Q4 GDP data in focus

The market may edge higher tracking firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 16 points at the opening bell. Foreign institutional investors (FIIs) bought shares worth Rs 253.48 crore and domestic funds sold shares worth Rs 50.39 crore on Monday, 30 May 2011, as per provisional figures released by the stock exchanges.

The government unveils Q4 March 2011 GDP data today, 31 May 2011. The data could provide cues on the likely monetary policy stance of the central bank at the mid-June 2011 review. The recent data showing gain in food prices in mid-May 2011 will increase pressure on the Reserve Bank of India (RBI) to raise policy rates when it undertakes mid-quarter monetary policy review on 16 June 2011.

Gap-up opening likely; Quarterly GDP data eyed

Markets may begin the last session of the month in the green following positive Asian indices. India’s fourth quarterly gross domestic product (GDP) numbers will be released today.

Headlines for the day:

ONGC to move court on Rajasthan block royalty

Hindalco to start Utkal project before June 2012

HPL to invest Rs4,000 cr on eight projects in WB

Daily News Roundup - May 31 2011

Japan’s Kokuyo will buy 50.3% stake in office stationary maker Camlin for over Rs3.65bn in three tranches, after which the Indian firm will be converted into a joint venture. (ET)

ONGC is heading for a legal battle over royalty payments for India’s biggest oilfield in Rajasthan irrespective of the outcome of Vedanta Resources’ US$9.6bn bid to buy Cairn India that operates the field. (ET)

Infosys said its brand value climbed 12% during FY11 to become nearly US$8.87bn, despite ongoing allegations of visa misuse in the US and its founder chairman NR Narayanamurthy set to step down this August. (ET)

Sensex ends flat amid lackluster session

The Indian stock markets started off the week on a quite note. It was another day of lackluster trading; the NSE Nifty was stuck in a 20 points narrow trading range and was unable to find any specific direction throughout the day ahead of the quarterly GDP numbers to be announced tomorrow.

Market sentiment got a boost after reports stated that monsoon hit Kerala two days ahead of schedule. Besides the GDP data, monthly auto sales, manufacturing PMI and exports figures during the course of the week also would play important market determinants.

GDP report to show direction

The great thing in the world is not so much where we stand, as in what direction we are moving. - Oliver Wendell Holmes.

Earnings season has come and gone. The less said the better. Market players will now focus on economic data and its impact on the RBI’s policy stance. In that context, the Q4 and FY11 GDP report due out today will be an important event. Consensus expectation is for 8.2% expansion in Q4 GDP. The Government has estimated a GDP growth of 8.6% for FY11.



Tata Motors

Tata Motors

Jagran Prakashan

Jagran Prakashan



VA Tech Wabag

VA Tech Wabag

BSE Bulk Deals to Watch - May 30 2011

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
30/5/2011 533412 AANJANEYA DEEPAK SHATILAL CHHEDA B 68922 310.91

NSE Bulk Deals to Watch - May 30 2011

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
30-MAY-2011,AANJANEYA,Aanjaneya Lifecare Ltd,ALEX PUTHENCHIRA JOHNSON,BUY,65000,312.96,-
30-MAY-2011,AANJANEYA,Aanjaneya Lifecare Ltd,ALIVE CONSULTANTS ALIVE,BUY,78807,308.16,-
30-MAY-2011,AANJANEYA,Aanjaneya Lifecare Ltd,AMIT SWARUPCHAND KORADIA,BUY,80000,308.23,-