Dealer’s Diary
The key benchmark indices rebounded from the three-and-half month low hit early in the week, tracking recovery in global stocks. However, it soon pared gains on profit taking. The Sensex surged to a fresh intraday high in mid-afternoon trade and pared gains at the end of the trading session soon after hitting a fresh intraday high. The Sensex and Nifty closed with gains of 1.2% and 1.3%, respectively. BSE mid-cap and small-cap indices also closed with gains of 1.7% and 1.4%, respectively. Among the front-liners, RComm., Sterlite Industries, Jindal Steel, DLF and M&M were up by 3-6%, while Maruti Suzuki, HDFC Bank, L&T and Reliance Infrastructure were down by 0-1%. In the midcap segment, Parsvnath Developers, Shree Renuka Sugar, Fresenius Kabi Oncology, Pipavav Shipyard and Apollo Tyres were up 7-11%, while Hindusthan National Glass, Gee Kay Finance, Shree Global Tradefin, Rajesh Exports and Info Edge India were down 3-6%.
The trend deciding level for the day is 16816/ 5050 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16939 – 17014 / 5094 – 5121 levels. However, if NIFTY trades below 16816/ 5050 levels for the first half-an-hour of trade then it may correct up to 16740 – 16617/ 5022 - 4978 levels.
Economic and Political News
• Centre lines up Rs31,000cr for North-Eastern region infrastructure development
• Core Infrastructure sector growth slows to 5.1% in April 2010
• IMF chief sees faster global growth of 4.3%
Corporate News
• Dewan raises Rs500cr through QIP, preferential allotment
• Amtek Auto buys into Amtek India as a step to merger
• Reliance Power to buy Reliance Infra. power assets for Rs1,095cr
• Shell pays US $4.7bn for strategic natural gas play
Sunday, May 30, 2010
Thursday, May 27, 2010
Market Outlook---May 28, 2010
Dealer’s Diary
The key benchmark indices opened strong as metal, auto, capital goods and IT stocks gained on fresh buying. However, volatility in the market ensued as traders rolled over positions in the derivatives segment from May 2010 series to June 2010 series. The market remained strong in afternoon trade on firm European stocks. Gains extended in late trade as world stocks rose after China signaled support for the euro zone. The Sensex and Nifty closed with gains of 1.7% each. BSE mid-cap and small-cap indices, however, underperformed the benchmark indices, closing with gains of 0.9% and 0.8%, respectively. Among the front-liners, Tata Motors, ONGC, Sterlite, HDFC Bank and Reliance Comm. were up by 3-5%, while ACC, Bharti Airtel, Cipla and Hero Honda were down by 0-2%. In the mid-cap segment, TV18, MVL, REI Agro, Apollo Hospitals and Fortis Healthcare were up by 7-10%, while GSFC, Shree Global Tradefin, Gee Kay Finance, DCHL and Max India were down by 4-7%.
The trend deciding level for the day is 16564/4972 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16797–16927/5047 – 5091 levels. However, if NIFTY trades below 16564/4972 levels for the first half-an-hour of trade then it may correct up to 16433–16201/4928 - 4853 levels.
Economic and Political News
· Liquidity is comfortable, RBI steps pre-emptive say Bankers
· US $40bn private investment needed to bridge road deficit: Kamal Nath
· Three ministries oppose PMO-backed purchase plan from SMEs
Corporate News
· Promoters may invest Rs1,330cr in Tata Steel, hike stake by 3%
· Fortis may have to fight for Parkway control
· Actis to buy GVK’s power business for nearly Rs1,000cr
Tuesday, May 25, 2010
Market Outlook---May 26, 2010
Dealer’s Diary
Key benchmark indices fell to their lowest level in over 3 months as world stocks slumped amid tensions in Korea, anxiety over global debt levels and sovereign default fears. The market opened on a weak note, tracking lower Asian stocks and extended losses with the Sensex dropping to its lowest level in 3 months in mid-morning trade. The market slipped to its fresh 3-month low in early afternoon trade. The market extended losses in mid-afternoon trade to finally close the trade in red. Sensex and Nifty closed down by 2.7% and 2.8%, respectively. BSE mid cap and small cap also ended the trade in red, down 3% and 3.4%, respectively. Among the front-liners, only Cipla was up 0.1%, while Reliance Comm., Hindalco, Tata Motors, Sterlite and Tata Steel were down 4- 6%. In the mid-cap segment, GCPL, IL&FS Transport, IGL, Redington India and Brigade Enterprises were up 2-5%, while Shree Global Tradefin, Rajesh Exports, Hotel Leela Venture, REI Six Ten Retail and IVRCL Infra were down 8-14%.
The trend deciding level for the day is 16142/4847 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16325– 627/4907– 5007 levels. However, if NIFTY trades below 16142/4847 levels for the first half-an-hour of trade then it may correct up to 15840 – 15658/4747 – 4686 levels.
Economic and Political News
• Finmin rejects DOT’s call to draw landline licence fee
• Foreign NBFCs may get back flexibility in setting up arms
• Govt. plans to keep deficit targets off FRBM, wants leeway in times of crisis
Corporate News
• Hotel Leela plans to raise Rs375cr through FCCB
• GMR Infra plans to raise Rs5,000cr to fund its expansion plans
• Lupin gets USFDA nod for high blood pressure tablets
Key benchmark indices fell to their lowest level in over 3 months as world stocks slumped amid tensions in Korea, anxiety over global debt levels and sovereign default fears. The market opened on a weak note, tracking lower Asian stocks and extended losses with the Sensex dropping to its lowest level in 3 months in mid-morning trade. The market slipped to its fresh 3-month low in early afternoon trade. The market extended losses in mid-afternoon trade to finally close the trade in red. Sensex and Nifty closed down by 2.7% and 2.8%, respectively. BSE mid cap and small cap also ended the trade in red, down 3% and 3.4%, respectively. Among the front-liners, only Cipla was up 0.1%, while Reliance Comm., Hindalco, Tata Motors, Sterlite and Tata Steel were down 4- 6%. In the mid-cap segment, GCPL, IL&FS Transport, IGL, Redington India and Brigade Enterprises were up 2-5%, while Shree Global Tradefin, Rajesh Exports, Hotel Leela Venture, REI Six Ten Retail and IVRCL Infra were down 8-14%.
The trend deciding level for the day is 16142/4847 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16325– 627/4907– 5007 levels. However, if NIFTY trades below 16142/4847 levels for the first half-an-hour of trade then it may correct up to 15840 – 15658/4747 – 4686 levels.
Economic and Political News
• Finmin rejects DOT’s call to draw landline licence fee
• Foreign NBFCs may get back flexibility in setting up arms
• Govt. plans to keep deficit targets off FRBM, wants leeway in times of crisis
Corporate News
• Hotel Leela plans to raise Rs375cr through FCCB
• GMR Infra plans to raise Rs5,000cr to fund its expansion plans
• Lupin gets USFDA nod for high blood pressure tablets
Monday, May 24, 2010
Market Outlook---May 25, 2010
Dealer’s Diary
In a total reversal of course, the key benchmark indices turned negative in late trade as European stocks gave away initial gains and as US index futures fell. Banking, metal, auto and realty stocks reversed initial gains. The market surged in morning trade tracking gains in Asian stocks, and it extended gains in early afternoon trade as European stocks rose at the onset of the trading session. However, in the late trade, the market lost early gains as it tracked global indices. The Sensex and Nifty closed in green with gains of 0.2% and 0.3%, respectively. BSE small-cap index also closed up by 0.6%, while BSE mid-cap index ended the trading session flat. Among the front-liners, Reliance Communications, Reliance Infrastructure, Reliance Industries, Hero Honda and L&T were up by 1-11%, while Hindalco, Grasim, DLF, M&M and HDFC were down by 2-4%. In the mid-cap segment, JM Financial, Shree Renuka Sugars, Jai Corp, Balrampur Chini and REI Six Ten Retail were up by 5-9%, while Bajaj Finserv, Bayer CorpScience, Gee Kay Finance, Rajesh Exports and Tata Chemicals were down by 4-6%.
The trend deciding level for the day is 16547/ 4966 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16681 – 16891/5008 – 5072 levels. However, if NIFTY trades below 16547/ 4966 levels for the first half-an-hour of trade then it may correct up to 16336 – 16202/4902 – 4860 levels.
Economic and Political News
· With a 10% growth target, PM signals reforms
· PM sees 5% inflation by December 2010
· Direct Tax Code revised draft expected in June 2010
Corporate News
· Tata Chemicals to raise Rs400cr through preferential allotment
· Madras Cements will spend Rs600cr to raise capacity
· LIC picks a 2% stake in Adani Enterprises
Sunday, May 23, 2010
Market Outlook---May 24, 2010
Dealer’s Diary
The key benchmark indices recovered after striking the lowest levels in nearly three months at the onset of the trading session on weak Asian stocks. The market opened the session in red; however, it recovered in mid-morning trade and made a fresh intraday high. Market weakened a little in the afternoon session before hitting an intraday high in the late trade. The Sensex and Nifty closed down by 0.4% and 0.3%, respectively. BSE Mid-cap and the Small-cap indices also closed down by 1.3% and 1.5%, respectively. Among the front-liners, ITC, M&M, Bharti Airtel, Maruti and ACC were up by 1-3%, while NTPC, Hindalco, Grasim, HUL and Tata Power were down by 3-4%. In the Mid-cap segment, Jain Irrigation, IFCI, Jubiliant Foodworks, Trent and Hindustan National Glass were up by 2- 7%, while Piramal Healthcare, Gujarat NRE Coke, Sun Pharma, OnMobile Global and Shree Cement were down by 7-12%.
Markets Today
The trend deciding level for the day is 16373/4907 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16559 – 16673/4971 – 5011 levels. However, if NIFTY trades below 16373/ 4907levels for the first half-an-hour of trade then it may correct up to 16260 – 16073/ 4867 – 4802 levels.
Economic and Political News
• BWA auctions to kick off on May 24, 11 companies to participate
• FM vows payout boost in renewed GST push
• FM hints at more taxes next year to check fiscal deficit
Corporate News
• Ranbaxy launches Lipitor generic drug in Canada
• Cyclone weakens: ONGC, RIL to resume production
• JK Lakshmi in talks to acquire Egyptian company for Rs800cr
The key benchmark indices recovered after striking the lowest levels in nearly three months at the onset of the trading session on weak Asian stocks. The market opened the session in red; however, it recovered in mid-morning trade and made a fresh intraday high. Market weakened a little in the afternoon session before hitting an intraday high in the late trade. The Sensex and Nifty closed down by 0.4% and 0.3%, respectively. BSE Mid-cap and the Small-cap indices also closed down by 1.3% and 1.5%, respectively. Among the front-liners, ITC, M&M, Bharti Airtel, Maruti and ACC were up by 1-3%, while NTPC, Hindalco, Grasim, HUL and Tata Power were down by 3-4%. In the Mid-cap segment, Jain Irrigation, IFCI, Jubiliant Foodworks, Trent and Hindustan National Glass were up by 2- 7%, while Piramal Healthcare, Gujarat NRE Coke, Sun Pharma, OnMobile Global and Shree Cement were down by 7-12%.
Markets Today
The trend deciding level for the day is 16373/4907 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16559 – 16673/4971 – 5011 levels. However, if NIFTY trades below 16373/ 4907levels for the first half-an-hour of trade then it may correct up to 16260 – 16073/ 4867 – 4802 levels.
Economic and Political News
• BWA auctions to kick off on May 24, 11 companies to participate
• FM vows payout boost in renewed GST push
• FM hints at more taxes next year to check fiscal deficit
Corporate News
• Ranbaxy launches Lipitor generic drug in Canada
• Cyclone weakens: ONGC, RIL to resume production
• JK Lakshmi in talks to acquire Egyptian company for Rs800cr
Thursday, May 20, 2010
Market Outlook---May 21, 2010
Dealer’s Diary
The benchmark indices rebounded after two days of steep losses, but came off its highs in mid-morning trade. Later, the market regained strength and the Sensex hit a fresh intraday high in afternoon trade, as European stocks rose at the onset of the trading session. However, the market came sharply off the higher level in late trade. Intraday volatility was high as traders rolled over positions in the derivatives segment ahead of the expiry of the May 2010 contracts. Oil majors like ONGC and Oil India jumped after the government more than doubled the price of natural gas produced from nomination blocks. Telecom stocks were mixed after the 3G spectrum auctions ended. The Sensex and Nifty closed up by 0.7% and 0.6%, respectively. The BSE Mid-cap and Small-cap indices closed down 0.1% and 0.6%, respectively. Among the frontliners, ONGC, Sterlite, SBI, Reliance Infra and NTPC were up by 2-9%, while Jaiprakash Associates, DLF, Grasim, Maruti and Tata Power were down by 1- 3%.
Markets Today
The trend deciding level for the day is 16519 / 4951 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16619 – 16718 / 4977 – 5007 levels. However, if NIFTY trades below 16519 / 4951 levels for the first half-an-hour of trade then it may correct up to 16420 – 16320 / 4921 - 4895 levels.
Economic and Political News
• Govt. likely to raise power tariff: Power Minister
• India to launch oil block auctions in FY11: Official
• TRAI to complete consultation on 3G-2G price-linking by July 15, 2010
Corporate News
• RIL halts some KG output as cyclone approaches
• Panacea vaccine gets clean chit from WHO
• JSPL to acquire Oman steel firm for US $464mn
• ICICI-BoR deal faces Government hurdle
The benchmark indices rebounded after two days of steep losses, but came off its highs in mid-morning trade. Later, the market regained strength and the Sensex hit a fresh intraday high in afternoon trade, as European stocks rose at the onset of the trading session. However, the market came sharply off the higher level in late trade. Intraday volatility was high as traders rolled over positions in the derivatives segment ahead of the expiry of the May 2010 contracts. Oil majors like ONGC and Oil India jumped after the government more than doubled the price of natural gas produced from nomination blocks. Telecom stocks were mixed after the 3G spectrum auctions ended. The Sensex and Nifty closed up by 0.7% and 0.6%, respectively. The BSE Mid-cap and Small-cap indices closed down 0.1% and 0.6%, respectively. Among the frontliners, ONGC, Sterlite, SBI, Reliance Infra and NTPC were up by 2-9%, while Jaiprakash Associates, DLF, Grasim, Maruti and Tata Power were down by 1- 3%.
Markets Today
The trend deciding level for the day is 16519 / 4951 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16619 – 16718 / 4977 – 5007 levels. However, if NIFTY trades below 16519 / 4951 levels for the first half-an-hour of trade then it may correct up to 16420 – 16320 / 4921 - 4895 levels.
Economic and Political News
• Govt. likely to raise power tariff: Power Minister
• India to launch oil block auctions in FY11: Official
• TRAI to complete consultation on 3G-2G price-linking by July 15, 2010
Corporate News
• RIL halts some KG output as cyclone approaches
• Panacea vaccine gets clean chit from WHO
• JSPL to acquire Oman steel firm for US $464mn
• ICICI-BoR deal faces Government hurdle
Market Outlook---May 20, 2010
Dealer’s Diary
The market recovered in morning trade after an initial slide triggered by weak Asian stocks. However it weakened again later. The Sensex hit a fresh intraday low in early afternoon trade. Bargain hunting in some pivotals helped the key benchmark indices recover from a lower level in choppy afternoon trade. A selloff gripped the bourses in mid-afternoon trade, as European stocks slumped after Germany sharpened financial regulation, as a result of which the Sensex hit a 2.5 month low in late trade. The Sensex and Nifty closed down by 2.8% and 2.9%, respectively. The BSE Mid-cap and the Small-cap indices also closed down by 2.6% and 2.5%, respectively. Among the front-liners, Hero Honda, Cipla and Tata Power were up by 0.3-0.6%, while Tata Motors, Sterlite, ICICI Bank, M&M and RCom were down by 6-7%. In the mid-cap segment, 3MIndia, Berger Paints, South Indian Bank, Parsvnath Developers and Honeywell Auto were up by 2-7%, while Aban Offshore, Essar Ship Ports, Welspun Gujarat, GTL Infrastructure and Gujarat NRE Coke were down by 7-9%.
The trend deciding level for the day is 16528 / 4964 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16683 – 16957 / 5020 – 5121 levels. However, if NIFTY trades below 16528 / 4964levels for the first half-an-hour of trade then it may correct up to 16254 – 16099 / 4864 – 4807 levels.
Economic and Political News
· India's imports jump 43.3% in April
· 24 foreign investment proposals worth Rs1,412cr approved
· India may slap taxes, quotas to limit iron ore exports
Corporate News
· Bombay Dyeing sells Mumbai property to Axis Bank
· Ranbaxy recalls some batches of 3 drugs in Europe
· Reliance April crude imports up 42%
· Tata Power challenges Maharashtra Govt. directive
Tuesday, May 18, 2010
Market Outlook---May 19, 2010
Dealer’s Diary
Volatility was high right from the onset of the trading session. The benchmark indices edged lower in early trade on weak Asian stocks. The market cut losses in morning trade after hitting a fresh intraday low. However, the market weakened once again after turning positive for a brief period in mid-morning trade when it hit a fresh intraday high. Gains in European stocks pushed the market further higher, with the Sensex touching the psychological 17,000 level in afternoon trade. However, the market came off the higher level amid intense volatility in late trade. Consumer durables, capital goods and IT stocks gained. Oil exploration stocks rose as crude oil prices rebounded from 5 month lows. Auto stocks were mixed. Metal stocks fell. The Sensex and Nifty closed higher 0.2% and 0.1%, respectively. The BSE Mid-cap and the Small-cap indices closed up 0.4% and 0.7%, respectively. Among the front-liners, L&T, RCom, ONGC, Wipro and Grasim were up by 2-3%, while Tata Motors, Sterlite, HDFC Bank, ICICI Bank and Tata Power were down by 1-2%.
The trend deciding level for the day is 16873 / 5065 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17003 – 17130 / 5106 – 5146 levels. However, if NIFTY trades below 16873 / 5065 levels for the first half-an-hour of trade then it may correct up to 16746 – 16617 / 5025 – 4984 levels.
Economic and Political News
• Indian Bureau of Mines suspends mining operations in 90 mines
• GERC fixes tariff for biomass plants
• Govt may launch Nelp-IX in July’2010
• 3G: Pan-India bid touches Rs16,531cr
Corporate News
• Shree Renuka Sugar renegotiates Brazilian Equipav deal
• BSNL to invest Rs14,800cr this year and next
• Ansal to invest Rs1,500cr in complexes, Gurgaon township
Volatility was high right from the onset of the trading session. The benchmark indices edged lower in early trade on weak Asian stocks. The market cut losses in morning trade after hitting a fresh intraday low. However, the market weakened once again after turning positive for a brief period in mid-morning trade when it hit a fresh intraday high. Gains in European stocks pushed the market further higher, with the Sensex touching the psychological 17,000 level in afternoon trade. However, the market came off the higher level amid intense volatility in late trade. Consumer durables, capital goods and IT stocks gained. Oil exploration stocks rose as crude oil prices rebounded from 5 month lows. Auto stocks were mixed. Metal stocks fell. The Sensex and Nifty closed higher 0.2% and 0.1%, respectively. The BSE Mid-cap and the Small-cap indices closed up 0.4% and 0.7%, respectively. Among the front-liners, L&T, RCom, ONGC, Wipro and Grasim were up by 2-3%, while Tata Motors, Sterlite, HDFC Bank, ICICI Bank and Tata Power were down by 1-2%.
The trend deciding level for the day is 16873 / 5065 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17003 – 17130 / 5106 – 5146 levels. However, if NIFTY trades below 16873 / 5065 levels for the first half-an-hour of trade then it may correct up to 16746 – 16617 / 5025 – 4984 levels.
Economic and Political News
• Indian Bureau of Mines suspends mining operations in 90 mines
• GERC fixes tariff for biomass plants
• Govt may launch Nelp-IX in July’2010
• 3G: Pan-India bid touches Rs16,531cr
Corporate News
• Shree Renuka Sugar renegotiates Brazilian Equipav deal
• BSNL to invest Rs14,800cr this year and next
• Ansal to invest Rs1,500cr in complexes, Gurgaon township
Monday, May 17, 2010
Market Outlook---May 18, 2010
Dealer’s Diary
Volatility ruled the roost as the key benchmark indices extended losses after a weak opening triggered by lower Asian stocks. Intermittent recovery was witnessed after a steep intraday slide. The market staged a strong intraday rebound in afternoon trade as European stocks recovered from initial fall. The recovery gathered steam in late trade; however the stocks weakened again at the fag end of the trading session. The Sensex and Nifty closed down 0.9% and 0.7%, respectively. The BSE Mid-cap and the Small-cap indices closed lower by 0.2% and 0.7%, respectively. Among the front-liners, L&T, HUL, SBI, Bharti Airtel and Cipla were up by 0-5%, while DLF, ACC, Wipro, Tata Motors and Jaiprakash Associates were down by 3-4%. In the mid-cap segment, Whirlpool, Piramal Health, Dena Bank, Karnataka Bank and Bayer Corp. were up by 5- 20%, while Prakash Industries, Gee Kay Finance, Aban Offshore, Punj Loyd and Jubilant Foodworks were down by 4-8%.
The trend deciding level for the day is 16783 / 5040 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17015 – 17194 / 5114 – 5169 levels. However, if NIFTY trades below 16783 / 5040 levels for the first half-an-hour of trade then it may correct up to 16604 – 16372 / 4986 – 4912 levels.
Economic and Political News
· NHAI board clears Rs6,500cr road projects
· Govt for 74% FDI in defence to overcome obsolescence
· Number of credit card holders slips to 18.3 mn in March’2010
· Bids for one all-India 3G licence hit US $3.54bn
Corporate News
· SAIL talks to Tata on JV; progress on Posco
· Mines ministry says no to Nalco divestment
· Strides gets FDA approval for HIV drug
· L&T Finance, L&T Infotech plan to tap capital market
Sunday, May 16, 2010
Market Outlook---May 17, 2010
Dealer’s Diary
The market remained volatile throughout the day. It moved into the positive zone soon after an initial slide triggered by weak Asian stocks. The market pared its gains later, after hitting a fresh intraday high. A weak opening of European markets dragged the key indices to fresh intraday lows in afternoon trade. The market cut its losses in mid-afternoon trade but slumped again in late trade. The Sensex and Nifty closed down by 1.6% and 1.7%, respectively. The BSE Mid-cap and Small-cap indices closed lower by 1.1% and 1.4%, respectively. Among the front-liners, Bharti Airtel, ITC, Grasim and ACC were up by 0-2%, while Tata Steel, SBI, Sterlite, Hindalco and JP Associates were down by 3-5%. In the mid-cap segment, BF Utlities, Sun Pharma Advanced Research, Godrej Industries, Bajaj Finserv and MRF were up by 4-11%, while Aban Offshore, Hindustan Oil, Jubilant Foodworks, Hindusthan National Glass and Simplex Infrastructure were down by 5-18%.
The trend deciding level for the day is 17083 / 5119 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17241 – 17488 / 5167 – 5241 levels. However, if NIFTY trades below 17083 / 5119 levels for the first half-an-hour of trade then it may correct up to 16836 – 16677 / 5045 – 4997 levels.
Economic and Political News
• Telcos may have to raise Rs50,000cr to fund 3G rollout
• MMRDA needs Rs1.13lakh cr investment for infra development
• Major infra sectors miss output targets in FY'10: Govt. report
• Three firms shortlisted for CIL's US $ 2bn overseas projects
Corporate News
• ONGC, OIL subsidy burden rises 42% in one quarter
• Jindal Power may launch Rs7,200cr IPO by June-July
• RIL signs MoU with Russian firm to make butyl rubber
• SLDC snubs Tata Power, supports R-Infra
The market remained volatile throughout the day. It moved into the positive zone soon after an initial slide triggered by weak Asian stocks. The market pared its gains later, after hitting a fresh intraday high. A weak opening of European markets dragged the key indices to fresh intraday lows in afternoon trade. The market cut its losses in mid-afternoon trade but slumped again in late trade. The Sensex and Nifty closed down by 1.6% and 1.7%, respectively. The BSE Mid-cap and Small-cap indices closed lower by 1.1% and 1.4%, respectively. Among the front-liners, Bharti Airtel, ITC, Grasim and ACC were up by 0-2%, while Tata Steel, SBI, Sterlite, Hindalco and JP Associates were down by 3-5%. In the mid-cap segment, BF Utlities, Sun Pharma Advanced Research, Godrej Industries, Bajaj Finserv and MRF were up by 4-11%, while Aban Offshore, Hindustan Oil, Jubilant Foodworks, Hindusthan National Glass and Simplex Infrastructure were down by 5-18%.
The trend deciding level for the day is 17083 / 5119 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17241 – 17488 / 5167 – 5241 levels. However, if NIFTY trades below 17083 / 5119 levels for the first half-an-hour of trade then it may correct up to 16836 – 16677 / 5045 – 4997 levels.
Economic and Political News
• Telcos may have to raise Rs50,000cr to fund 3G rollout
• MMRDA needs Rs1.13lakh cr investment for infra development
• Major infra sectors miss output targets in FY'10: Govt. report
• Three firms shortlisted for CIL's US $ 2bn overseas projects
Corporate News
• ONGC, OIL subsidy burden rises 42% in one quarter
• Jindal Power may launch Rs7,200cr IPO by June-July
• RIL signs MoU with Russian firm to make butyl rubber
• SLDC snubs Tata Power, supports R-Infra
Thursday, May 13, 2010
Market Outlook---May 14, 2010
Dealer’s Diary
The key benchmark indices opened well in the green, in line with early Asian indices and overnight US markets, which closed with strong gains. Volatility was high, as the markets witnessed a sharp rise and fall, with intermittent swings. After trading in a narrow range in the early session, the markets witnessed strong buying, which took them to the day’s highs. However, a sharp sell-off took the markets to the days’ lows in the end-session. A minor pullback enabled the markets to close above the days’ lows, but way below their highs for the day. The Sensex and Nifty ended the session with gains of 0.4% each. The BSE Mid-cap and Small-cap indices gained 1.2% and 1.0%, respectively. Among the front-liners, Tata Motors, M&M, DLF, Reliance Infra and JP Associates were up by 2-4%, while Tata Steel, Bharti Airtel, RIL, Wipro and Hindalco were down by 0-2%. In the Mid-cap segment, Godrej Consumer, Bajaj Finserv, Coromandel Intl, Hindusthan National Glass and Bajaj Holdings were up by 8-14%, while Gee Kay Finance, Onmobile Global, Allahabad Bank, Texmaco and Dalmia Cement were down by 3-10%.
Markets Today
The trend deciding level for the day is 17294 / 5180 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17348 – 17443 / 5212 – 5245 levels. However, if NIFTY trades below 17294 / 5180 levels for the first half-an-hour of trade then it may correct up to 17199 – 17145 / 5147 – 5115 levels.
Economic and Political News
· Govt. lays ground for US $11bn push to infrastructure
· Oversight body to plug breaches in FDI
· Sino-Indian trade to touch US $60bn by December
Corporate News
· OVL, IOC and OIL sign agreement for Venezuelan oilfield
· Aban Offshore’s gas platform (Pearl), sank off Venezuelan coast
· Gujarat NRE Coke to invest Rs1,000cr in AP plant
Wednesday, May 12, 2010
Market Outlook---May 13, 2010
Dealer’s Diary
The key benchmark indices ended the trading session flat amid high volatility. The market opened firm, but slipped into the red in afternoon trade, weighed by data showing lower-than-expected growth in industrial production in March, 2010. Gains from Reliance Industries and positive cues from the European indices pulled the market into the green in mid-afternoon trade. However, a fall in US index futures saw the market pare its gains in the closing session of trade. The Sensex and Nifty ended the session almost flat, up by a marginal 0.3% and 0.4%, respectively. The BSE Mid-cap index was up by 0.1%, while the Small-cap index was down by 0.3%. Among the front-liners, ITC, Wipro, SBI, Tata Power and RIL were up by 1-2%, while Bharti Airtel, M&M, JP Associates, BHEL and ACC were the down by 1-8%. In the Mid-cap segment, Bajaj Finserv, Zuari Industries, Jubilant Organosys, Blue Star and Berger Paints were up by 4-8%, while Gee Kay Finance, Onmobile Global, Gammon India, Hindusthan Natural Glass and Gujarat NRE Coke were down by 4-6%.
The trend deciding level for the day is 17159/5143 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17290 – 17383/ 5187 – 5217 levels. However, if NIFTY trades below 17159/ 5143 levels for the first half-an-hour of trade then it may correct up to 17065 – 16934/ 5113 – 5069 levels.
Economic and Political News
• FM pegs 2010-11 GDP growth at 8.4%
• Capital flows pose risk, RBI says all options open
• Steel consumption up 9.6% in April
Corporate News
• Cadila Healthcare gets nod for H1N1 vaccine in India
• Educomp bags Rs50cr order from Bihar
• R power may build gas-fired plant in AP
The key benchmark indices ended the trading session flat amid high volatility. The market opened firm, but slipped into the red in afternoon trade, weighed by data showing lower-than-expected growth in industrial production in March, 2010. Gains from Reliance Industries and positive cues from the European indices pulled the market into the green in mid-afternoon trade. However, a fall in US index futures saw the market pare its gains in the closing session of trade. The Sensex and Nifty ended the session almost flat, up by a marginal 0.3% and 0.4%, respectively. The BSE Mid-cap index was up by 0.1%, while the Small-cap index was down by 0.3%. Among the front-liners, ITC, Wipro, SBI, Tata Power and RIL were up by 1-2%, while Bharti Airtel, M&M, JP Associates, BHEL and ACC were the down by 1-8%. In the Mid-cap segment, Bajaj Finserv, Zuari Industries, Jubilant Organosys, Blue Star and Berger Paints were up by 4-8%, while Gee Kay Finance, Onmobile Global, Gammon India, Hindusthan Natural Glass and Gujarat NRE Coke were down by 4-6%.
The trend deciding level for the day is 17159/5143 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17290 – 17383/ 5187 – 5217 levels. However, if NIFTY trades below 17159/ 5143 levels for the first half-an-hour of trade then it may correct up to 17065 – 16934/ 5113 – 5069 levels.
Economic and Political News
• FM pegs 2010-11 GDP growth at 8.4%
• Capital flows pose risk, RBI says all options open
• Steel consumption up 9.6% in April
Corporate News
• Cadila Healthcare gets nod for H1N1 vaccine in India
• Educomp bags Rs50cr order from Bihar
• R power may build gas-fired plant in AP
Tuesday, May 11, 2010
Market Outlook---May 12, 2010
Dealer’s Diary
The markets cooled off after strong run-up in the previous session. The markets opened in green, touching its intra-day high, in line with strong gains of US and few Asian markets. However, the indices slipped within moments of opening and slipped in the red. Except for a minor attempt of pull-back in the
mid-session, markets remained weak for the day. All the sectoral indices on the BSE closed in the red. The Sensex and Nifty closed lower by 1.1% each. The BSE Mid-cap and the Small-cap indices too closed lower by 1.0% each, indicating a market wide weakness. Among the front-liners, M&M, HDFC Bank, and Hero Honda were up by 0-2%, while Reliance Infra, Reliance Comm, Tata Steel, Hindalco and Bharti Airtel were down by 3-5%. In the mid-cap segment, National Fertilizers, Sobha Developers, Essar Ship Ports, RCF and Petronet LNG were up by 4-12%, while Piramal Health, Bajaj Hindustan, Gee Kay Finance,
Shree renuka Sugar and Jindal Saw were down by 4-7%.
The trend deciding level for the day is 17208 / 5156 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17312-17483 / 5186 - 5237 levels. However, if NIFTY trades below 17208 / 515 levels for the first half-an-hour of trade then it may correct
up to 17038 - 16934 / 5106 – 5076 levels.
Economic and Political News
· Growing small cities to keep inflation high in FY11: Goldman
· 3G auction & proposed changes in 2G spectrum pricing to fetch Rs90,000cr
· Punjab & Haryana seek higher MSP for Paddy
Corporate News
· Bajaj Hind to transfer thermal power project to subsidiary
· DLF pulls out of Chennai IT SEZ, seeks Rs700cr refund
· GSPC to merge two of its gas distribution units
Market Outlook---May 11, 2010
Dealer’s Diary
The key benchmark indices recouped a large portion of the previous week’s losses, after the EU announced a rescue package to aid Greece. The market opened the trade on strong sentiments, boosted by the Euro zone’s bailout plan, and continued to trade in a narrow range for the first session. It hit a fresh intraday high in mid-morning trade and extended its gains in afternoon trade. Metal, realty, auto and banking stocks led the rally. The Sensex and Nifty closed up by 3.4% and 3.5%, respectively. The BSE Mid-cap and the Small-cap indices also closed up by 2.4% and 2.8%, respectively. Among the front-liners, Reliance Infra, Tata Steel, Hindalco, Tata Motors and DLF were up by 7-8%, while Cipla and Hero Honda were the only stocks down by 0-6%. In the Mid-cap segment, Bajaj Finserv, Dish TV, IVRCL Infra, IB Real Estate and Tulip Telecom were up by 6-10%, while Dalmia Cement, REI Six Ten Retail, Gillette India, Chambal Fertilizer and GCPL were down by 2-7%.
The trend deciding level for the day is 17162/5141levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17525–17719/5256 – 5318 levels. However, if NIFTY trades below 17162/5141levels for the first half-an-hour of trade then it may correct up to 16698 – 16605/5079 – 4964levels.
Economic and Political News
• Eurozone leaders agree on US $1trn bailout for Greece
• TRAI may waive 3-yr lock-in to ring in consolidation
• FIPB rejects Jaipur IPL’s plan to attract foreign investment
• RBI to sell 35-day cash mgmt bills to raise Rs6,000cr
Corporate News
• Pratibha Industries bags Rs100cr order from Maha. Govt.
• Usha Martin gets board approval for Rs1,200cr capex plans
• Fortis Health sells 6.58% to Singapore’s GIC for Rs380cr
The key benchmark indices recouped a large portion of the previous week’s losses, after the EU announced a rescue package to aid Greece. The market opened the trade on strong sentiments, boosted by the Euro zone’s bailout plan, and continued to trade in a narrow range for the first session. It hit a fresh intraday high in mid-morning trade and extended its gains in afternoon trade. Metal, realty, auto and banking stocks led the rally. The Sensex and Nifty closed up by 3.4% and 3.5%, respectively. The BSE Mid-cap and the Small-cap indices also closed up by 2.4% and 2.8%, respectively. Among the front-liners, Reliance Infra, Tata Steel, Hindalco, Tata Motors and DLF were up by 7-8%, while Cipla and Hero Honda were the only stocks down by 0-6%. In the Mid-cap segment, Bajaj Finserv, Dish TV, IVRCL Infra, IB Real Estate and Tulip Telecom were up by 6-10%, while Dalmia Cement, REI Six Ten Retail, Gillette India, Chambal Fertilizer and GCPL were down by 2-7%.
The trend deciding level for the day is 17162/5141levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17525–17719/5256 – 5318 levels. However, if NIFTY trades below 17162/5141levels for the first half-an-hour of trade then it may correct up to 16698 – 16605/5079 – 4964levels.
Economic and Political News
• Eurozone leaders agree on US $1trn bailout for Greece
• TRAI may waive 3-yr lock-in to ring in consolidation
• FIPB rejects Jaipur IPL’s plan to attract foreign investment
• RBI to sell 35-day cash mgmt bills to raise Rs6,000cr
Corporate News
• Pratibha Industries bags Rs100cr order from Maha. Govt.
• Usha Martin gets board approval for Rs1,200cr capex plans
• Fortis Health sells 6.58% to Singapore’s GIC for Rs380cr
Thursday, May 6, 2010
Market Outlook---May 7, 2010
Dealer’s Diary
The benchmark indices cut losses after an initial slide triggered by weak global stocks which fell on lingering worries about sovereign debt issues in the euro zone. In mid morning trade, the market trimmed losses after hitting fresh intraday low. Later, in afternoon trade, a steep slide took the Sensex to a fresh intraday low. However, as European markets reversed early losses and bargain hunting in few counters helped the indices pare losses. FMCG and Pharma stocks rose on defensive buying. While, Realty and IT stocks were down, Banking and Auto stocks were mixed. Volatility was high. But in late trade, the market weakened once again and ended a choppy trading session lower with the Sensex falling below the psychological 17,000 level after flirting with that level throughout the day. The Sensex and Nifty closed down 0.6% and 0.7%, respectively. The BSE Mid-cap and the Small-cap indices closed lower by 0.5% and 0.1%, respectively. Among the front-liners, Cipla, HUL, Grasim, SBI and ONGC were up by 1-3%, while Tata Motors, Reliance Communication, Bharti Airtel, Wipro and HDFC were down by 2-3%.
The trend deciding level for the day is 16966 / 5085 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17109 – 17230 / 5131 – 5172 levels. However, if NIFTY trades below 16966 / 5085 levels for the first half-an-hour of trade then it may correct up to 16845 – 16702 / 5044 – 4997 levels.
Economic and Political News
· PE transactions in India rise three-fold to US $840 mn in Apr’2010
· India's FY10 exports have dropped by 4.6% yoy to US $176.5bn: trade secy
· The Government announced not to allow FDI in housing projects for urban poor
Corporate News
· NTPC to pump Rs45,000cr in 500 MW clean energy projects
· Glenmark enters into licensing pact with Taro's US arm
· Aurobindo gets Canada nod for pain killer
· PVR targets Rs100cr capex; 60-80 new screens in FY11
Wednesday, May 5, 2010
Market Outlook---May 6, 2010
Dealer’s Diary
Recovery in European stocks helped the domestic bourses wipe out almost the entire losses suffered earlier in the day, in what was a highly volatile trading session. Metal stocks fell as metal prices slumped on the LMEX. Banking stocks declined on fears that the RBI may resort to further monetary tightening to counter soaring inflation. High beta infrastructure stocks dropped. Telecom stocks saw a divergent trend. The Sensex and Nifty closed down 0.3% and 0.5%, respectively. The BSE Mid-cap was up by 0.3%, while the Small-cap index closed lower by 0.2%. Among the front-liners, Bharti Airtel, Wipro, Maruti Suzuki, M&M and NTPC were up by 1-3%, while JP Associates, Sterlite, Reliance Infrastructure, Hero Honda and HUL were down by 1-5%. In the mid-cap segment, Bajaj Fin Serv, Godrej Consumers, Patni Computers, UCO Bank and Indian Bank were up by 6-18%, while REI Agro, Prakash Industries, Gujarat NRE Coke, Aban Offshore and Videocon Industries were down by 3-7%.
The trend deciding level for the day is 17023 / 5110 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17187– 17286 / 5163 – 5202 levels. However, if NIFTY trades below 17023 / 5110 levels for the first half-an-hour of trade then it may correct up to 16924 – 16759 / 5071 – 5018 levels.
Economic and Political News
• Bank loans up 17% on yr as on Apr 23: RBI
• Govt to take up fresh SEZ proposals on June 8
• Petroleum Ministry seeks Rs19,620cr compensation for oil PSUs
Corporate News
• SAIL to set up power plant & greenfield steel mill by 2020
• Hewlett Packard India gets Rs1,450cr tax notice
• L&T on aggressive expansion abroad
Recovery in European stocks helped the domestic bourses wipe out almost the entire losses suffered earlier in the day, in what was a highly volatile trading session. Metal stocks fell as metal prices slumped on the LMEX. Banking stocks declined on fears that the RBI may resort to further monetary tightening to counter soaring inflation. High beta infrastructure stocks dropped. Telecom stocks saw a divergent trend. The Sensex and Nifty closed down 0.3% and 0.5%, respectively. The BSE Mid-cap was up by 0.3%, while the Small-cap index closed lower by 0.2%. Among the front-liners, Bharti Airtel, Wipro, Maruti Suzuki, M&M and NTPC were up by 1-3%, while JP Associates, Sterlite, Reliance Infrastructure, Hero Honda and HUL were down by 1-5%. In the mid-cap segment, Bajaj Fin Serv, Godrej Consumers, Patni Computers, UCO Bank and Indian Bank were up by 6-18%, while REI Agro, Prakash Industries, Gujarat NRE Coke, Aban Offshore and Videocon Industries were down by 3-7%.
The trend deciding level for the day is 17023 / 5110 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17187– 17286 / 5163 – 5202 levels. However, if NIFTY trades below 17023 / 5110 levels for the first half-an-hour of trade then it may correct up to 16924 – 16759 / 5071 – 5018 levels.
Economic and Political News
• Bank loans up 17% on yr as on Apr 23: RBI
• Govt to take up fresh SEZ proposals on June 8
• Petroleum Ministry seeks Rs19,620cr compensation for oil PSUs
Corporate News
• SAIL to set up power plant & greenfield steel mill by 2020
• Hewlett Packard India gets Rs1,450cr tax notice
• L&T on aggressive expansion abroad
Tuesday, May 4, 2010
Market Outlook---May 5, 2010
Dealer’s Diary
The benchmark indices slumped, extending losses for the second straight day, as world stocks fell. Stocks were volatile. The market trimmed gains in early trade as Asian stocks gave away initial gains and came off the lower level in morning trade. However, it regained strength in mid-morning trade but the intraday recovery proved short-lived. The market once again slipped into the red to hit fresh intraday low in afternoon trade. After moving between the positive and negative terrain, the market witnessed a steep slide and extended losses in late trade. The Sensex and Nifty closed down 1.4% each. The BSE Midcap and Small-cap indices closed lower by 1.8% each. Among the front-liners, HDFC and Hero Honda were up by 0-1%, while Hindalco, Tata Steel, Sterlite, Grasim and Jaiprakash Associates were down by 3-6%.
The trend deciding level for the day is 17235 / 5178 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17367 – 17598 / 5221 – 5293 levels. However, if NIFTY trades below 17235 / 5178 levels for the first half-an-hour of trade then it may correct up to 17004 – 16872 / 5106 – 5063 levels.
Economic and Political News
· India attracts US $1.21bn FDI in March
· FM says no to rolling back hike in duties on petrol, diesel
· Government extends emission norms deadline for two-wheelers
· FDI in food processing sector may rise 27% in FY2011
Corporate News
· Glenmark in licensing deal with US co for cholesterol drug
· Welspun to acquire stake in Saudi pipe facility
· L&T Power inks pact with Howden of Britain
Monday, May 3, 2010
Market Outlook---May 4, 2010
Dealer’s Diary
The key benchmark indices ended a choppy trading session lower, halting a two-day advance, as weak global stocks weighed on investors' sentiment. High beta infrastructure stocks declined on selling pressure. Metal stocks declined, as copper prices fell on concerns that monetary tightening in China will crimp demand for the metal. But IT pivotals were off the day's low, on bargain hunting after an initial setback triggered by a fall in ADRs last Friday. Banking and financial shares declined on fears that the RBI may resort to further monetary tightening to counter the soaring inflation. Auto shares, however, survived the broader market decline, on robust sales figures in April 2010. The Sensex and Nifty closed down 1% each. The BSE Mid-cap and Small-cap indices closed lower by 0.4% each. Among the front-liners, Hero Honda, RCom, Maruti Suzuki, Wipro and TCS were up by 0.1-1%, while Reliance Infra, Hindalco, Sterlite, HUL and Tata Motors were down by 2-3%. In the mid-cap segment, HSBC InvestDirect, Tulip Telecom, Dish TV India, UCO Bank and Vijaya Bank were up by 4-15%, while South India Bank, Central Bank, Nagarjuna Constructions, Gujarat NRE Coke and BF Utilities were down by 4-12%.
The trend deciding level for the day is 17423 / 5237 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17500 – 17614 / 5264 – 5306 levels. However, if NIFTY trades below 17423 / 5237 levels for the first half-an-hour of trade then it may correct up to 17309 – 17232 / 5196 – 5169 levels.
Economic and Political News
• Govt. to chart two-year plan for financial inclusion
• Sebi asks rating agencies to disclose methodology, fees
• Tax holiday over, but Himachal investments continue
Corporate News
• Torrent power slashes fuel surcharge by 6 paise
• Glenmark, Sanofi in outlicensing deal
• Jaiprakash Associates' cement sales up 57% in April’2010
The key benchmark indices ended a choppy trading session lower, halting a two-day advance, as weak global stocks weighed on investors' sentiment. High beta infrastructure stocks declined on selling pressure. Metal stocks declined, as copper prices fell on concerns that monetary tightening in China will crimp demand for the metal. But IT pivotals were off the day's low, on bargain hunting after an initial setback triggered by a fall in ADRs last Friday. Banking and financial shares declined on fears that the RBI may resort to further monetary tightening to counter the soaring inflation. Auto shares, however, survived the broader market decline, on robust sales figures in April 2010. The Sensex and Nifty closed down 1% each. The BSE Mid-cap and Small-cap indices closed lower by 0.4% each. Among the front-liners, Hero Honda, RCom, Maruti Suzuki, Wipro and TCS were up by 0.1-1%, while Reliance Infra, Hindalco, Sterlite, HUL and Tata Motors were down by 2-3%. In the mid-cap segment, HSBC InvestDirect, Tulip Telecom, Dish TV India, UCO Bank and Vijaya Bank were up by 4-15%, while South India Bank, Central Bank, Nagarjuna Constructions, Gujarat NRE Coke and BF Utilities were down by 4-12%.
The trend deciding level for the day is 17423 / 5237 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17500 – 17614 / 5264 – 5306 levels. However, if NIFTY trades below 17423 / 5237 levels for the first half-an-hour of trade then it may correct up to 17309 – 17232 / 5196 – 5169 levels.
Economic and Political News
• Govt. to chart two-year plan for financial inclusion
• Sebi asks rating agencies to disclose methodology, fees
• Tax holiday over, but Himachal investments continue
Corporate News
• Torrent power slashes fuel surcharge by 6 paise
• Glenmark, Sanofi in outlicensing deal
• Jaiprakash Associates' cement sales up 57% in April’2010
Subscribe to:
Posts (Atom)