Oil India Limited
Wednesday, June 01, 2011
The key Indian equity indices closed higher for a second day in a row on Wednesday, as mixed economic reports strengthened the belief that the RBI may not take an aggressive stance on monetary policy going forward. The Indian stocks had rallied on Monday after Q4 GDP came in below estimates, stoking speculation that the central bank could turn less hawkish to avert a further drop in economic momentum.
The Indian market seemed to be in a different mood altogether today despite a muted Asian markets and indecisive trend in the European stocks. In fact, the global economic landscape doesn't look all that rosy amid deceleration in the manufacturing sector from Australia to Europe. Still, the Indian market beat the tepidness in the overseas markets to close up for the fourth time in the past five sessions.
It was an extremely volatile session on Dalal Street today. Sensex pullled down the shutters at 18,608.81, up 105.53 points, or 0.57% from the previous close. Nifty shut shop at 5592, up 31.85 points or 0.57%.
Tata Motors May sales up 10%
BEML falls 6% on weak Q4 results
TVS Motor May sales rise 18%
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
1/6/2011 533412 AANJANEYA CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 420881 329.36
1/6/2011 533412 AANJANEYA A K G SECURITIES AND CONSULTANCY LTD B 310335 331.23
1/6/2011 533412 AANJANEYA CHANDARANA INTERMEDIARIES BROKERS PRIVATE LIMITED B 86711 327.80
1/6/2011 533412 AANJANEYA EUREKA STOCK & SHARE BROKING SERVICES LTD B 78787 332.70
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
01-JUN-2011,AANJANEYA,Aanjaneya Lifecare Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,86153,328.19,-
01-JUN-2011,AANJANEYA,Aanjaneya Lifecare Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,420879,329.20,-
01-JUN-2011,AANJANEYA,Aanjaneya Lifecare Ltd,EXCEL MERCANTILE PRIVATE LIMITED,BUY,86380,330.20,-
Chinese economic growth seen moderating further
Asian markets ended mixed with the push provided by the hopes that Germany may drop its call for Greece to restructure its debt keeping stocks supported though worries of a further moderation in Chinese economic activity kept the sentiments strained. In overnight moves, the markets rose for a fourth consecutive session as optimism about financial help ahead for Greece offset earlier pressure from a disappointing reading on consumer confidence and house prices. The Dow ended with gains of 128.21 points, or 1%, to 12,569.79.
The key benchmark indices gained for the second straight day to attain their highest closing level in more than 4 weeks as data showing heavy buying by foreign funds on Tuesday, 31 May 2011, boosted sentiment. The BSE Sensex was up 105.53 points or 0.57%, up close to 95 points from the day's low and off close to 25 points from the day's high. The market breadth was strong.
Capital goods stocks gained. M&M edged higher on strong auto sales in May 2011. Tata Motors declined on reporting weak passenger car sales for May 2011. ACC gained on strong cement dispatches in the month just gone by. Index heavyweight Reliance Industries (RIL) dropped. Telecom stocks were in demand. IT pivotals, too, rose on renewed buying. Realty stocks edged lower. Power generation and distribution firms were in demand. Shares of Reliance Anil Dhirubhai Ambani (ADA) group rose across the board. Sugar stocks recovered from recent losses.
On this first day of new month, the Indian markets are expected to begin on a positive note owing to gains in the global markets.
Headlines for the day:
Maruti set to invest Rs18000 cr in Gujarat
JSW Energy's $418-million CIC Energy deal called off
IL&FS power arm readies plan for 1,500-mw projects
Coal India has shot down the Adani Group’s proposal to form a JV for exploiting the group’s newly acquired coal mines in Australia. (ET)
Oil India plans to spend about US$1bn to acquire oil and gas producing blocks abroad in the next couple of years. (ET)
With global copper prices expected to remain firm at $9,200 per tonne, Hindustan Copper has decided to speed up work on new mine development that aims to raise ore production by almost four times. (ET)
It was an outstanding trading session for the Indian stock market on Tuesday with the NSE Nifty ending above the 5550 levels, while the BSE Sensex shut shop above the 18500 levels.
After Monday’s lackluster session, the benchmark indices posted healthy gains today amid a worldwide rally in equities, and to some extent commodities as well. The Asian markets ended sharply higher and European stocks also surged. US stock futures also pointed to a higher opening later today.
Perhaps all pleasure is only relief - William Burroughs.
After a bad May the Indian market seems to be witnessing a relief rally. GDP data has fanned speculation that the RBI may not be too aggressive when it meets on June 16. The deceleration in investments is a cause for concern even as private demand remains healthy. Inflation could stay elevated on account of firm global commodities. An impending hike in diesel will exacerbate the problem. So, expect the RBI to jack up policy rates even further.