Search Now

Recommendations

Tuesday, September 18, 2012

Flat start on the cards


The opening on the Dalal Street is expected to be on a flat note tracking mixed global cues. SGX Nifty is trading 12.50 points higher. Events for the day: Ex date for final dividend of Bhushan Steel, Hindustan Copper. Headlines for the day: Unitech to reply to Telenor's plea of Rs6,400 cr indemnity. Foreign telcos will get 3 months to form Indian venture. Tata Motors launches six commercial vehicles. Welspun Corp raises Rs252 cr through debentures. Indian Indices: Today, the opening on the Dalal Street will be on a flat note led by mixed global peers. SGX Nifty is also trading 12.50 points higher. Yesterday (September 17, 2012), the Reserve Bank of India (RBI) slashed the cash reserve ratio (CRR) by 25 basis points to 4.50% from 4.75%. The policy repo rate and the reverse repo rate were kept unchanged at 8% and 7% respectively. Thejo Engineering is the first company that will list its equity shares on the National Stock Exchange (NSE) EMERGE SME platform today. The issue price is fixed at lower end of price band of Rs402-430 a share. On Monday (September 17, 2012), the Sensex settled at 18542, up by 78 points while the Nifty closed at 5610, rising by 32 points. Global Indices: Asian stock markets retreated from four-month highs on Tuesday (September 18, 2012) as markets paused from last week's rally, calculating the impact on growth from the Federal Reserve's aggressive stimulus and eyeing whether Spain will request a bailout to ease its fiscal strains. European stocks slipped from 14-month highs on Monday (September 17, 2012) as the traders cashed their gains awaiting clarification on whether Spain will seek financial aid to tackle its debt crisis. US stocks snapped a four-day streak of gains as concerns about steel demand weighed on material shares and a late sell off in crude oil dented the energy sector. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs2857.10 crore on September 14, 2012. The domestic investors sold Indian shares worth a net of Rs202.00 crore on September 14, 2012. The data is as per the SEBI website. Commodity Cues: Oil prices plunged more on Monday afternoon as volumes spiked in a rapid sell-off, sending Brent crude crashing through technical support as markets sought an explanation for the plunge.