Dealer’s Diary
The benchmark indices edged higher after moving between the positive and negative terrain in late trade, as the Finance Ministry's Economic Survey for 2009-2010 predicted that India would bounce back to a high 9% growth in 2011-12. In morning trade, the Sensex pared its gains, after a firm start on weak global cues and lower US index futures capped the recovery. Auto stocks were mixed, while capital goods and realty stocks rose. The intraday recovery gathered steam in late trade. Both the BSE Sensex and the NSE Nifty closed flat. The BSE Mid-cap and Small-cap indices closed in the red, down by 0.4% and 0.2%, respectively.
The trend deciding level for the day is 16250/4859 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16333–16412/4881–4903 levels. However, if NIFTY trades below 16250/4859 levels for the first half-an-hour of trade then it may correct up to 167171–16088/4837–4814 levels.
Economic and Political News
Core industries grow 9.4%; all 6 sectors shine
Food inflation at 17.6% yoy on Feb 13
Government okays Rs10Kcr highway projects in J&K and Karnataka
Corporate News
Sterlite Industries starts takeover tussle for Asarco
ICICI hikes long-term deposit rates by 25-50bp
Reliance Cap raises stake in Fame by 1.7%
Thursday, February 25, 2010
Wednesday, February 24, 2010
Market Outlook---February 25, 2010
Dealer’s Diary
The benchmark indices edged lower in choppy trade, as Rail Minister Mamata Banerjee announced a populist rail budget for 2010-2011. Weak global equities and lower US index futures also weighed on investor sentiment. Auto stocks declined on fears of a hike in excise duty in the upcoming Union Budget 2010-2011. Realty stocks edged higher, but consumer durables stocks fell. The market cut losses after an initial slide. The market pared its gains after hitting a fresh intraday high in morning trade, and moved between the positive and negative terrain in mid-morning trade. It drifted lower in afternoon trade, after the presentation of the Rail budget in parliament. The market recovered from the lower level in mid-afternoon trade. Both the BSE Sensex and the NSE Nifty closed down by 0.2% each. The BSE Mid-cap and Small-cap indices also closed in the red, down by 0.4% and 0.6%, respectively.
The trend deciding level for the day is 16257/4858 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16327–16398/4881–4904 levels. However, if NIFTY trades below 16257/4858 levels for the first half-an-hour of trade then it may correct up to 16186–16116/4835–4812 levels.
Economic and Political News
Indian Railways to invest Rs41,426cr in 2010-11
Indian Railways suffered an estimated Rs13,675cr loss in FY2010E, due to social service obligations
Government expected to hold 3G auction on April 9, 2010
Corporate News
Wipro sets up internal team to probe fraud
KPCL, L&T sign JV for 1,600mw power plant in Chhattisgarh
Gammon India bags order worth Rs137cr
Tuesday, February 23, 2010
Market Outlook----February 24, 2010
Dealer’s Diary
The benchmark indices provisionally closed with marginal gains, after moving in a tight range throughout the day. The market dropped in early trade, tracking weak Asian stocks. Later, as some Asian stocks rebounded, the market recovered and moved in a narrow range in mid-morning trade. However, the market pared its gains after hitting a fresh intraday high in early afternoon trade, but finally regained strength in late trade. The BSE Sensex and NSE Nifty closed in the green, up by 0.3% each. However, the BSE Mid-cap and Smallcap indices closed in the red, down by 0.6% and 0.9%, respectively.
The trend deciding level for the day is 16263/4862 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16348–16409/4892-4913 levels. However, if NIFTY trades below 16263/4862 levels for the first half-an-hour of trade then it may correct up to 16202–16117/4841–4811 levels.
Economic and Political News
India Inc's Jan overseas borrowing down 16% to US $1.31bn
Gems and jewellery exports surge 62% in Jan’10
National Pharmaceuticals Pricing Authority (NPPA) to revise pricing norms
Corporate News
Satyam takes Upaid to court over tax matter
S. Africa coal mine off NTPC agenda
JK Tyre to invest Rs1,600cr in Tamil Nadu
The benchmark indices provisionally closed with marginal gains, after moving in a tight range throughout the day. The market dropped in early trade, tracking weak Asian stocks. Later, as some Asian stocks rebounded, the market recovered and moved in a narrow range in mid-morning trade. However, the market pared its gains after hitting a fresh intraday high in early afternoon trade, but finally regained strength in late trade. The BSE Sensex and NSE Nifty closed in the green, up by 0.3% each. However, the BSE Mid-cap and Smallcap indices closed in the red, down by 0.6% and 0.9%, respectively.
The trend deciding level for the day is 16263/4862 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16348–16409/4892-4913 levels. However, if NIFTY trades below 16263/4862 levels for the first half-an-hour of trade then it may correct up to 16202–16117/4841–4811 levels.
Economic and Political News
India Inc's Jan overseas borrowing down 16% to US $1.31bn
Gems and jewellery exports surge 62% in Jan’10
National Pharmaceuticals Pricing Authority (NPPA) to revise pricing norms
Corporate News
Satyam takes Upaid to court over tax matter
S. Africa coal mine off NTPC agenda
JK Tyre to invest Rs1,600cr in Tamil Nadu
Monday, February 22, 2010
Market Outlook---February 23, 2010
Dealer’s Diary
The benchmark indices erased almost all their gains after an early rally, as investors turned cautious ahead of the Union Budget 2010-2011, later this week. Consumer durables and realty stocks fell, but rising metal prices on the LMEX boosted local metal shares. After a firm start triggered by higher Asian stocks, the market pared gains in morning trade and regained strength in midmorning trade. The Sensex moved in a narrow range in early afternoon trade. The market once again pared gains in mid-afternoon trade. The market cut almost all the intraday gains in late trade. The BSE Sensex and NSE Nifty closed up by 0.3% and 0.2%, respectively. However, the BSE Mid-cap and Small-cap indices closed in the red, down by 0.6% and 1.0%, respectively.
The trend deciding level for the day is 16284/4871 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16376–16516/4897–4938 levels. However, if NIFTY trades below 16284/4871 levels for the first half-an-hour of trade then it may correct up to 16145–16052/4831–4805 levels.
Economic and Political News
RBI to reduce 80% risk weight on loans to government-backed power projects
UIDAI extends bidding deadline for IT projects
Indian personal computer (PC) market grew 25.7% yoy during 3QFY2010
Corporate News
Power Grid to raise Rs3,500cr
Apollo Tyres to make Chennai its R&D hub by setting up Rs2,000cr facility
Inox’s stake purchase in Fame violates takeover norms alleges Reliance Media
Sunday, February 21, 2010
Market Outlook---February 22, 2010
Dealer’s Diary
The benchmark indices dropped in choppy trade, after the US Federal Reserve raised its discount rate from 0.5% to 0.75%, effective from February 19, 2010, for the first time since the financial crisis. Weakness prevailed on the bourses in morning trade. A bout of volatility was witnessed in the second half of the trading session. The market staged a strong intraday rebound in mid-afternoon trade after a sharp slide in afternoon trade. The BSE Sensex recouped nearly all the intraday losses in late trade. However, the intraday rebound proved short-lived. The market once again lost ground towards the close of the trading session. The BSE Sensex and NSE Nifty closed down by 0.8% and 0.9%, respectively. The BSE Mid-cap and Small-cap indices also closed in the red, down by 1.4% and 1.6%, respectively.
The trend deciding level for the day is 16189/4846 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16304–16417/4886–4928 levels. However, if NIFTY trades below 16189/4846 levels for the first half-an-hour of trade then it may correct up to 16077–15962/4805–4764 levels.
Economic and Political News
RBI cuts ceiling rate on export credit
Iron ore exports decline 11% in December, 2009
Telecom MNP expected to be launched by May first week
Corporate News
Renuka Sugars buys Brazil’s Equipav SA for Rs1,530cr
Sun Pharma's cancer drug application gets EMA backing
Great Offshore gets board's nod for raising Rs 1,750cr
The benchmark indices dropped in choppy trade, after the US Federal Reserve raised its discount rate from 0.5% to 0.75%, effective from February 19, 2010, for the first time since the financial crisis. Weakness prevailed on the bourses in morning trade. A bout of volatility was witnessed in the second half of the trading session. The market staged a strong intraday rebound in mid-afternoon trade after a sharp slide in afternoon trade. The BSE Sensex recouped nearly all the intraday losses in late trade. However, the intraday rebound proved short-lived. The market once again lost ground towards the close of the trading session. The BSE Sensex and NSE Nifty closed down by 0.8% and 0.9%, respectively. The BSE Mid-cap and Small-cap indices also closed in the red, down by 1.4% and 1.6%, respectively.
The trend deciding level for the day is 16189/4846 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16304–16417/4886–4928 levels. However, if NIFTY trades below 16189/4846 levels for the first half-an-hour of trade then it may correct up to 16077–15962/4805–4764 levels.
Economic and Political News
RBI cuts ceiling rate on export credit
Iron ore exports decline 11% in December, 2009
Telecom MNP expected to be launched by May first week
Corporate News
Renuka Sugars buys Brazil’s Equipav SA for Rs1,530cr
Sun Pharma's cancer drug application gets EMA backing
Great Offshore gets board's nod for raising Rs 1,750cr
Sunday, February 14, 2010
Market Outlook—February 15, 2010
Dealer’s Diary
The benchmark indices jumped in early trade on firm Asian stocks. However, the market pared gains in early afternoon trade but buying at lower levels once again propelled stocks higher in afternoon trade. Metal, realty, auto and banking stocks rose. The Sensex hit a fresh intraday high in late trade. The BSE Sensex and NSE Nifty were up by 1.5% each. The BSE Mid-cap and Small-cap indices were up by 0.8% each. Among the front-liners, Hero Honda, Jaiprakash Associates, ICICI Bank, M&M and RIL were up by 3-4%, while Tata Power was down 1%. In the Mid-cap segment Hindustan Oil, Texmaco, Shree Renuka Sugar, Fortis Healthcare and Thomas Cook were up by 6-18%, while Andrew Yule, AIA Engineering, Patni, Apollo Tyres and Alfa Laval were down by 3-4%.
The trend deciding level for the day is 16095/4809 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16261–16369/4861–4896 levels. However, if NIFTY trades below 16095/4809 levels for the first half-an-hour of trade then it may correct up to 15986–15820/4775–4723 levels.
Economic and Political News
Domestic air traffic flies high in Jan; grows 23%
Centre planning to develop 25,000MW of gas fired plants
Environment ministry seeks Rs2,200cr, a 17% hike yoy in forthcoming budget
Corporate News
Tata Motors promoters cut DVR shareholding to 57%
BHEL, L&T among 5 cos eyeing bulk orders from NTPC worth Rs30,000cr
HPCL to invest Rs25,000cr for new refinery in Maharashtra
Wednesday, February 10, 2010
Market Outlook—February 10, 2010
Dealer’s Diary
The market pared gains soon after a firm start triggered by higher Asian stocks. The market slipped into the red in early trade as US index futures fell. It moved between the positive and negative terrain after recovering sharply from the intraday lows in mid-morning trade. The market re-gained positive zone in afternoon trade. It reversed gains to hit fresh intraday low in late trade. Banking, capital goods, FMCG, healthcare and power stocks fell. The BSE Sensex was down by 0.8%, while NSE Nifty was down 0.7%. The BSE Mid-cap remained almost flat, while Small-cap indices were up by 0.1%. Among the front-liners, Hindalco Industries, HDFC Bank, Sterlite Industries, Grasim Industries and Hero Honda were up by 0.8-1.7%, while Mahindra & Mahindra, SBI, Tata Steel, Sun Pharma and L&T were down by 1.8-3.4%. In the Mid-cap segment HMT, Apollo Tyres, Glaxosmithkline Consumers, REI Agro and Emami were up by 6-11%, while Monsanto India, Chambal Fertilizers, IBN18 Broadcast, Nagarjuna Fertilizers and Patni Computers were down by 3-7%.
The trend deciding level for the day is 15985/4777 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16078–16234/4807–4856 levels. However, if NIFTY trades below 15985/4777 levels for the first half-an-hour of trade then it may correct up to 15829–15736/4728–4699 levels.
Economic and Political News
India Inc to pay Rs21,000cr more if excise goes up 2%
RBI to replace BPLR with Base rate from April’10
Government developing infrastructure projects worth Rs2.24 lakh cr
Corporate News
NIIT Tech bagged Rs228cr government project
Hero Honda eyes Rs800cr facility in Gujarat
ArcelorMittal will hike its stake in Uttam Galva to 33.7% by Feb’10
The market pared gains soon after a firm start triggered by higher Asian stocks. The market slipped into the red in early trade as US index futures fell. It moved between the positive and negative terrain after recovering sharply from the intraday lows in mid-morning trade. The market re-gained positive zone in afternoon trade. It reversed gains to hit fresh intraday low in late trade. Banking, capital goods, FMCG, healthcare and power stocks fell. The BSE Sensex was down by 0.8%, while NSE Nifty was down 0.7%. The BSE Mid-cap remained almost flat, while Small-cap indices were up by 0.1%. Among the front-liners, Hindalco Industries, HDFC Bank, Sterlite Industries, Grasim Industries and Hero Honda were up by 0.8-1.7%, while Mahindra & Mahindra, SBI, Tata Steel, Sun Pharma and L&T were down by 1.8-3.4%. In the Mid-cap segment HMT, Apollo Tyres, Glaxosmithkline Consumers, REI Agro and Emami were up by 6-11%, while Monsanto India, Chambal Fertilizers, IBN18 Broadcast, Nagarjuna Fertilizers and Patni Computers were down by 3-7%.
The trend deciding level for the day is 15985/4777 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16078–16234/4807–4856 levels. However, if NIFTY trades below 15985/4777 levels for the first half-an-hour of trade then it may correct up to 15829–15736/4728–4699 levels.
Economic and Political News
India Inc to pay Rs21,000cr more if excise goes up 2%
RBI to replace BPLR with Base rate from April’10
Government developing infrastructure projects worth Rs2.24 lakh cr
Corporate News
NIIT Tech bagged Rs228cr government project
Hero Honda eyes Rs800cr facility in Gujarat
ArcelorMittal will hike its stake in Uttam Galva to 33.7% by Feb’10
Tuesday, February 9, 2010
Market Outlook—February 10, 2010
Dealer’s Diary
The benchmark indices had a dull start after the US market suffered a severe setback yesterday, with the Dow sliding below the 10,000 mark. However, after a strong intraday rebound in morning trade, the market erased all its gains and slipped into the red briefly in mid-morning trade. Sustained buying demand in select pivotals and a rebound in Asian indices triggered a recovery in early afternoon trade. The BSE Sensex and NSE Nifty were up by 0.7% each. The BSE Mid-cap and Small-cap indices were up by 0.4% each. Among the front-liners, Grasim, ACC, Infosys, Wipro and Sun Pharma were up by 2-5%, while DLF, Hindalco, M&M, HUL and Maruti Suzuki were down by 1-2%. In the mid-cap segment HMT, STC, Patni Computers, National Fertilizers and BGR Energy were up by 6-11%, while Gujarat NRE Coke, Info Edge India, Petronet LNG, Parsvnath Developers and Indiabulls Real Estate were down by 3-6%.
The trend deciding level for the day is 16000/4781 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16137–16231/4822–4852 levels. However, if NIFTY trades below 16000/4781 levels for the first half-an-hour of trade then it may correct up to 15905–15769/4751–4710 levels.
Economic and Political News
Oil below $72 in Asian trade
Auto sales cross record 11 lakh units in January
Government mulls Rs50,000cr debt fund for infrastructure projects
Corporate News
ADAG firm hikes stake in Fame India by 2% through open market purchase
SAIL Bhilai unit set to return to normal production
L&T bags Rs582cr orders for execution of Electrical Projects
Monday, February 8, 2010
Market Outlook—February 9, 2010
Dealer’s Diary
The benchmark indices logged marginal gains after swinging sharply in highly volatile trade. IT stocks played the lead role in the recovery; however, metal pivotals remained subdued, as metal prices fell on the LMEX. Telecom stocks advanced on bargain hunting. Rate-sensitive banking shares recovered from the day's low, while auto stocks were mixed. The BSE Sensex and the NSE Nifty rose by a marginal 0.1% each. The BSE Mid-cap and Small-cap indices were down by 0.1% each. Among the front-liners, Bharti Airtel, RCOM, ONGC, HLL and M&M were up by 2-3%, while Tata Steel, Hindalco, Wipro, Jaiprakash Associates and NTPC were down by 1-4%. In the mid-cap segment Chambal Fertilisers, Nagarjuna Fertilisers, Core Projects, Kansai Nerolac, Procter & Gamble were up by 5-7%, while Indraprashtha Gas, Gujarat NRE Coke, Torrent Pharma, Spice Communications and REI Agro, were down by 4-9%.
The trend deciding level for the day is 15883/4745 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16114–16292/4815–4869 levels. However, if NIFTY trades below 15883/4745 levels for the first half-an-hour of trade then it may correct up to 15705–15474/4691–4621 levels.
Economic and Political News
Finance Ministry allows IRFC to issue Rs5,000cr tax free bonds
Bulk drug exports hit by government’s 15% value-addition directive
April’09-Jan’10 Steel consumption up 7.9% yoy
Corporate News
Sadbhav Engineering Bags Order worth Rs137cr
Bajaj Electricals to take controlling stake in Starlite Lighting
GMR plans to raise Rs1,500cr from PE companies
The benchmark indices logged marginal gains after swinging sharply in highly volatile trade. IT stocks played the lead role in the recovery; however, metal pivotals remained subdued, as metal prices fell on the LMEX. Telecom stocks advanced on bargain hunting. Rate-sensitive banking shares recovered from the day's low, while auto stocks were mixed. The BSE Sensex and the NSE Nifty rose by a marginal 0.1% each. The BSE Mid-cap and Small-cap indices were down by 0.1% each. Among the front-liners, Bharti Airtel, RCOM, ONGC, HLL and M&M were up by 2-3%, while Tata Steel, Hindalco, Wipro, Jaiprakash Associates and NTPC were down by 1-4%. In the mid-cap segment Chambal Fertilisers, Nagarjuna Fertilisers, Core Projects, Kansai Nerolac, Procter & Gamble were up by 5-7%, while Indraprashtha Gas, Gujarat NRE Coke, Torrent Pharma, Spice Communications and REI Agro, were down by 4-9%.
The trend deciding level for the day is 15883/4745 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16114–16292/4815–4869 levels. However, if NIFTY trades below 15883/4745 levels for the first half-an-hour of trade then it may correct up to 15705–15474/4691–4621 levels.
Economic and Political News
Finance Ministry allows IRFC to issue Rs5,000cr tax free bonds
Bulk drug exports hit by government’s 15% value-addition directive
April’09-Jan’10 Steel consumption up 7.9% yoy
Corporate News
Sadbhav Engineering Bags Order worth Rs137cr
Bajaj Electricals to take controlling stake in Starlite Lighting
GMR plans to raise Rs1,500cr from PE companies
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Sunday, February 7, 2010
Market Outlook—February 8, 2010
Dealer’s Diary
The NSE and the BSE held a special, 90-minute trading session on February 6, 2010, to enable the NSE to test an upgraded trading system. The benchmark indices jumped during this session, tracking a strong intraday rebound of US stocks on the 5th of February. Metal, realty, infrastructure, IT, auto and banking stocks gained. All the sectoral indices on the BSE were in the green. The BSE Sensex and the NSE Nifty surged by 0.8% each. The BSE Mid-cap and Smallcap indices were up by 1.4% and 1.5%, respectively. Among the front-liners, Hindalco, JP Associates, Sterlite, DLF and Infosys were up by 2-2.4%, while Hero Honda and Bharti Airtel were down by 0-0.2%. In the mid cap segment, Asian Star, United Breweries, Info Edge India, Ipca Labs and Infotech Enterprises were down by 2-4%, while Indraprashtha Gas, Gujarat Gas, Spice Comm., Monsanto India, and Eicher Motors were up by 7-12%.
The trend deciding level for the day is 15891/4746 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 15975-16035/4779-4801 levels. However, if NIFTY trades below 15891/4746 levels for the first half-an-hour of trade then it may correct up to 15832–15748/4724–4691 levels.
Economic and Political News
• Railway infrastructure projects go off track
• Infra investment doubles to 8% in 5 years: Plan Panel
• Govt. to set up Rs4,000cr international shipyard
Corporate News
• NTPC's Tapovan Vishnugad project hits roadblock
• Pipavav to ramp up headcount by 8,500 in 3 yrs
• Kingfisher Airlines hires US firm to revamp ops
The NSE and the BSE held a special, 90-minute trading session on February 6, 2010, to enable the NSE to test an upgraded trading system. The benchmark indices jumped during this session, tracking a strong intraday rebound of US stocks on the 5th of February. Metal, realty, infrastructure, IT, auto and banking stocks gained. All the sectoral indices on the BSE were in the green. The BSE Sensex and the NSE Nifty surged by 0.8% each. The BSE Mid-cap and Smallcap indices were up by 1.4% and 1.5%, respectively. Among the front-liners, Hindalco, JP Associates, Sterlite, DLF and Infosys were up by 2-2.4%, while Hero Honda and Bharti Airtel were down by 0-0.2%. In the mid cap segment, Asian Star, United Breweries, Info Edge India, Ipca Labs and Infotech Enterprises were down by 2-4%, while Indraprashtha Gas, Gujarat Gas, Spice Comm., Monsanto India, and Eicher Motors were up by 7-12%.
The trend deciding level for the day is 15891/4746 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 15975-16035/4779-4801 levels. However, if NIFTY trades below 15891/4746 levels for the first half-an-hour of trade then it may correct up to 15832–15748/4724–4691 levels.
Economic and Political News
• Railway infrastructure projects go off track
• Infra investment doubles to 8% in 5 years: Plan Panel
• Govt. to set up Rs4,000cr international shipyard
Corporate News
• NTPC's Tapovan Vishnugad project hits roadblock
• Pipavav to ramp up headcount by 8,500 in 3 yrs
• Kingfisher Airlines hires US firm to revamp ops
Market Outlook—February 6, 2010
Dealer’s Diary
The benchmark indices opened gap down, following the global meltdown triggered by mounting concerns over European debt crisis, indications of weak US job data and a crash in commodity and energy prices. However, the market recovered from lower levels in mid-morning trade but fresh selling at every small rise pulled the market near day's low in early afternoon trade. A weak start from European markets triggered a sell-off on the bourses in mid-afternoon trade. Sustained selling pressure in pivotals kept the market depressed in late trade. The market breadth was extremely weak. The BSE Sensex and NSE Nifty fell by 2.7% and 2.6% respectively. The BSE Mid-cap and Small-cap indices were down 2.6% and 3.2% respectively. Among the frontliners, Tata Power was up by 1%, while Hindalco Industries, Tata Steel, ONGC, Jaiprakash Associates and M&M were down by 4-6%. In the Mid-cap segment Torrent Pharma, United Breweries, KGN Industries, Godrej Consumer and Kirloskar Oil were up by 3-5%, while Jai Corp, National Fertilizer, Bombay Dyeing, Jagran Prakashan and Shriram Transport were down by 7-9%.
The trend deciding level for the day is 15913/4746 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16101–16410/4800–4881 levels. However, if NIFTY trades below 15913/4746 levels for the first half-an-hour of trade then it may correct up to15603-15416/4665–4611 levels.
Economic and Political News
RBI says interest rates for short-term loans may go up
FIPB will be empowered to clear Rs 1,200-cr proposals
Corporate News
Renuka Sugars to submit final bid for Brazilian co next week
SpiceJet looks to rope in new investor as Istithmar exits
M&M in global tie-up talks for premium bikes for Indian market
Tata Steel India sales up 9 pct in January
EIIL looking to acquire Rs 200-crore firm in FMCG market
Thursday, February 4, 2010
Market Outlook—February 5, 2010
Dealer’s Diary
A late sell-off in the index pivotals pulled the key benchmark indices to the day's low. The market drifted lower in early trade, tracking weak Asian stocks. However, after a strong intraday rebound in mid-morning trade, the market once again lost ground in early afternoon trade. Fresh selling in mid-afternoon trade pulled the benchmark indices to the day's low. The BSE Sensex and the NSE Nifty fell by 1.6% and 1.8%, respectively. The BSE Mid-cap and Small-cap indices lost 1.9% and 1.6%, respectively. Among the front-liners, ONGC, ITC and Hero Honda were up by 0-1%, while Hindalco, Jaiprakash Associates, Tata Motors, DLF and Tata Steel were down by 4-6%. In the mid cap segment, United Breweries, P&G, KGN, Info Edge India and Mcleod Russel were up by 4- 6%, while CMC, JP Hydro, Prakash Industries, Polaris Software and Kingfisher Airlines were down by 6-7%.
Markets Today
The trend deciding level for the day is 16307/4870 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16426–16627/4907–4969 levels. However, if NIFTY trades below 16307/4870 levels for the first half-an-hour of trade then it may correct up to16106–15988/4808–4771 levels.
Economic and Political News
FDI inflows rise 10% to $1.5bn in December
Central Registry on cards to prevent home loan frauds
DoT raises entry fee for ISP licence
Decision on Parikh Panel report likely before Budget: Government
Corporate News
Israel court bars Sun from hiking stake in Taro
DB Realty fixes issue price at Rs468
Dalmia Cement raises stake in OCL India to 45.4%
Kiri Dyes and Chemicals acquire Germany-based Dystar Group
A late sell-off in the index pivotals pulled the key benchmark indices to the day's low. The market drifted lower in early trade, tracking weak Asian stocks. However, after a strong intraday rebound in mid-morning trade, the market once again lost ground in early afternoon trade. Fresh selling in mid-afternoon trade pulled the benchmark indices to the day's low. The BSE Sensex and the NSE Nifty fell by 1.6% and 1.8%, respectively. The BSE Mid-cap and Small-cap indices lost 1.9% and 1.6%, respectively. Among the front-liners, ONGC, ITC and Hero Honda were up by 0-1%, while Hindalco, Jaiprakash Associates, Tata Motors, DLF and Tata Steel were down by 4-6%. In the mid cap segment, United Breweries, P&G, KGN, Info Edge India and Mcleod Russel were up by 4- 6%, while CMC, JP Hydro, Prakash Industries, Polaris Software and Kingfisher Airlines were down by 6-7%.
Markets Today
The trend deciding level for the day is 16307/4870 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16426–16627/4907–4969 levels. However, if NIFTY trades below 16307/4870 levels for the first half-an-hour of trade then it may correct up to16106–15988/4808–4771 levels.
Economic and Political News
FDI inflows rise 10% to $1.5bn in December
Central Registry on cards to prevent home loan frauds
DoT raises entry fee for ISP licence
Decision on Parikh Panel report likely before Budget: Government
Corporate News
Israel court bars Sun from hiking stake in Taro
DB Realty fixes issue price at Rs468
Dalmia Cement raises stake in OCL India to 45.4%
Kiri Dyes and Chemicals acquire Germany-based Dystar Group
Wednesday, February 3, 2010
Market Outlook—February 3, 2010
Dealer’s Diary
The Indian markets recouped the losses of the previous trading session, as they traded with strong gains throughout the day, without any major volatility. The indices witnessed a gap-up opening, along expected lines, as global indices traded with gains in excess of 1%. The BSE Sensex and the NSE Nifty soared by 2.1% each. The BSE Mid-cap and Small-cap indices underperformed the benchmark indices and gained 1.5% and 1.1%, respectively. Among the frontliners, Sterlite, Tata Steel, L&T, HDFC and Hindalco were up by 3-6%, while Sun Pharma was down by 1%. In the Mid cap segment, Prakash Ind., Blue Dart, Core Projects, Rajesh Exports and BGR Energy were up by 6-11%, while Spice Communications, CRISIL, HT Media, Andrew Yule and Simplex Infra were down by 3-6%
The trend deciding level for the day is 16420/4904 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16629–16763/4977–5022 levels. However, if NIFTY trades below 16420/4904 levels for the first half-an-hour of trade then it may correct up to 16287–16077/4859–4786 levels.
Economic and Political News
Govt awaits May GDP data to decide on stimulus exit
US admin appreciates India's efforts to improve regional ties
India hands over $5 million in aid to Haiti
JAC to wait for terms of reference of Telangana committee
Corporate News
ETA Star to launch $250mn phase I of India housing project
Supreme Infra bags three orders worth Rs364cr
NTPC FPO subscribed 61% within hours
L&T bags Rs1,100cr infra orders
Tuesday, February 2, 2010
Market Outlook—February 3, 2010
Dealer’s Diary
Key benchmark indices extended losses to fresh intraday lows in late trade as investors turned cautious ahead of the opening of the large follow-on public offer (FPO) of state-run power generation firm NTPC. The market pared gains as some Asian stocks reversed gains and US index futures fell. Attempts at a recovery proved futile as heightened volatility pushed the markets to close near the day’s lows. The BSE Sensex and NSE Nifty closed in the red losing 1.2% and 1.4% each. The BSE Mid-cap and Small-cap indices outperformed the benchmark indices with losses of 1.2% and 0.8% respectively. Among the frontliners, HDFC, Hindalco Industries, Sun Pharma and ONGC were up by 0-2%, while Jaiprakash Associates, Grasim Industries, Reliance Communications, M&M and NTPC were down by 3-4%. In the Mid-cap segment, Spice Communications, Emami, National Fertilisers, HT Media and KGN Industries were up by 5-17%, while Tulip Telecom, Anant Raj Industries, Bajaj Hindusthan, Thomas Cook and Andrew Yule were down by 5-6%.
The trend deciding level for the day is 16273/4865 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16,417–16,670/4,916–5,002 levels. However, if NIFTY trades below 16,273/4,865 levels for the first half-an-hour of trade then it may correct up to 16,020–15,876/4,779-4,728 levels.
Economic and Political News
Air India to hive off cargo business by April 1
Govt extends stock limit for sugar till September
Private equity firms set to raise $2 bn till June
FinMin not keen to allow banks to issue tax-free infrastructure bonds
MSME Min seeks Rs 5,500 cr
Corporate News
Siemens to invest Rs 1,600 cr in India
NTPC may miss FY2010 capacity addition target
ITC to open nine more Fortune hotels this year
Zylog acquires Canada-based Brainhunter for Rs 150 cr
BEL to get Rs 4,279 cr IAF order for Akash missiles
Monday, February 1, 2010
Market Outlook—February 2, 2010
Dealer’s Diary
The benchmark indices closed with marginal gains after a strong intraday rebound that was triggered by upbeat economic data and higher monthly sales from auto majors. The markets recovered with reports that India's exports rose by 9.3% for the second consecutive month, after 13 straight months of decline. Additionally, India's manufacturing sector grew at its fastest pace in almost one to one-and-a-half years in January 2010. The BSE Sensex closed flat, losing a mere 0.01%, while the NSE Nifty was up by 0.4%. The BSE Mid-cap and Smallcap indices outperformed the benchmark indices, with gains of 1.8% and 2.7%, respectively. Among the front-liners, Tata Motors, Wipro, Grasim, M&M and Sun Pharma were up by 3-4%, while HUL, SBI, HDFC Bank, ITC and NTPC were down by 1-3%. In the mid cap segment, REI Six Ten Retail, Titan, Kalpataru Power, Lupin and Bhushan Steel were up by 10-16%, while Simplex Infra, KGN Inds, Future Capital, Infotech Enterprises and Birla Corp were down by 4-8%.
The trend deciding level for the day is 16313/4882 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16465–16575/4937-4974 levels. However, if NIFTY trades below 16313/4882 levels for the first half-an-hour of trade then it may correct up to 16204-16051/4845-4790 levels.
Economic and Political News
Imports turn positive after 11 months in Dec
Govt. trying not to raise petroleum prices: Deora
DoT meets telcos today on MNP dilemma
Obama sends Congress $ 3.8 trillion budget plan
Plan panel okays Rs 300 cr Rukura irrigation project
Corporate News
Parsvnath Developers to raise Rs 300 cr
Toshiba JSW to invest Rs 800 cr in Chennai plant
RBI says policy change unlikely till April
Citi to plan sale of $ 10 billion private equity unit
The benchmark indices closed with marginal gains after a strong intraday rebound that was triggered by upbeat economic data and higher monthly sales from auto majors. The markets recovered with reports that India's exports rose by 9.3% for the second consecutive month, after 13 straight months of decline. Additionally, India's manufacturing sector grew at its fastest pace in almost one to one-and-a-half years in January 2010. The BSE Sensex closed flat, losing a mere 0.01%, while the NSE Nifty was up by 0.4%. The BSE Mid-cap and Smallcap indices outperformed the benchmark indices, with gains of 1.8% and 2.7%, respectively. Among the front-liners, Tata Motors, Wipro, Grasim, M&M and Sun Pharma were up by 3-4%, while HUL, SBI, HDFC Bank, ITC and NTPC were down by 1-3%. In the mid cap segment, REI Six Ten Retail, Titan, Kalpataru Power, Lupin and Bhushan Steel were up by 10-16%, while Simplex Infra, KGN Inds, Future Capital, Infotech Enterprises and Birla Corp were down by 4-8%.
The trend deciding level for the day is 16313/4882 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16465–16575/4937-4974 levels. However, if NIFTY trades below 16313/4882 levels for the first half-an-hour of trade then it may correct up to 16204-16051/4845-4790 levels.
Economic and Political News
Imports turn positive after 11 months in Dec
Govt. trying not to raise petroleum prices: Deora
DoT meets telcos today on MNP dilemma
Obama sends Congress $ 3.8 trillion budget plan
Plan panel okays Rs 300 cr Rukura irrigation project
Corporate News
Parsvnath Developers to raise Rs 300 cr
Toshiba JSW to invest Rs 800 cr in Chennai plant
RBI says policy change unlikely till April
Citi to plan sale of $ 10 billion private equity unit
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