Friday, May 14, 2010
सेन्सेक्स (16994.60) -271.27 अंक गिरकर, नीफ़्टी (5093.50) -85.40 अंक गिरकर, बंद.
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European markets update: FTSE Index down 1%, CAC Index down 1.9% and DAX Index down 0.7%
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FIIs were net sellers of Rs155.7mn in the cash segment on Thursday on a provisional basis, according to NSE web site. Local institutions were net buyers of Rs2.22bn. In the F&O segment, the foreign funds were net buyers of Rs18.63bn. FIIs were net sellers of Rs1.66bn in the cash segment on Wednesday, as per the SEBI data. Mutual Funds were net sellers of Rs1.28bn in the cash segment on the same day.
Results Today:
Adani Enterprises, Asahi India, Bhushan Steel, Deccan Chronicle, DLF, Federal Bank, Gulf Oil, Hindustan Copper, ICI India, Kirloskar Oil, McNally Bharat, NALCO, SBI, Tanla and Videocon Industries.
Corporate Snippets
RIL may join ONGC consortium in Venezuela, which could bag a hydrocarbon block. (ET)
Standard Chartered is likely to raise around US$600mn through an India listing. (ET)
Huawei offers to share source code for its telecommunication systems in a move to establish that its telecom gear does not pose security threat. (ET)
RJ Corp will dilute 10-12% in one of its subsidiaries to fund expansion plans. (ER)
Kingfisher to restructure around Rs7bn of debt. (ET)
Coal India about US$555mn in employee cost over the next 10years as it increases the use of machines. (ET)
Standard Chartered is likely to raise around US$600mn through an India listing. (ET)
Huawei offers to share source code for its telecommunication systems in a move to establish that its telecom gear does not pose security threat. (ET)
RJ Corp will dilute 10-12% in one of its subsidiaries to fund expansion plans. (ER)
Kingfisher to restructure around Rs7bn of debt. (ET)
Coal India about US$555mn in employee cost over the next 10years as it increases the use of machines. (ET)
Pre Market Commentary ...
There may be no prosperity at start on the Street as global cues are not supportive. After Spain, now Portugal has announced tough austerity steps to qualify for funds from the massive safety net provided by the EU and IMF. Optimism that the eurozone debt crisis is abating got a lift from a successful bond auction in Italy. Still, the euro fell close to 14-month lows against the dollar. Risk aversion remains elevated with the dollar index climbing above 85. Commodities are under pressure though Gold continues to attract safe haven buying. US stocks erased Wednesday’s big gains amid reports of a widening probe of large Wall Street banks. Asian markets are mostly in red this morning.
It’s a no-brainer that Indian stocks too would fall in sync with the global trend. However, the fall may not be too severe and sentiment could change for the better provided there is no further bad news from the external front. Key indices might also benefit if inflation for April turns out to be lower than anticipated. Consensus is for a drop to ~9.5% from 9.9% in March. On the whole, the market is likely to remain sideways and rangebound. The NSE Nifty will continue to find resistance at 5200 and beyond while support is expected at 5000 in case it drops below 5100. A major break-down in sentiment is not on the cards unless we get some fresh dose of bad news from the overseas markets.
It’s a no-brainer that Indian stocks too would fall in sync with the global trend. However, the fall may not be too severe and sentiment could change for the better provided there is no further bad news from the external front. Key indices might also benefit if inflation for April turns out to be lower than anticipated. Consensus is for a drop to ~9.5% from 9.9% in March. On the whole, the market is likely to remain sideways and rangebound. The NSE Nifty will continue to find resistance at 5200 and beyond while support is expected at 5000 in case it drops below 5100. A major break-down in sentiment is not on the cards unless we get some fresh dose of bad news from the overseas markets.
Thursday, May 13, 2010
सेन्सेक्स (17265.87) 70.06 अंक चढ्कर, नीफ़्टी (5178.90) 22.85 अंक चढ्कर, बंद..
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DELIVARY CALL,
BUY and HOLD
GESHIP
Target at 350 in 30 Days,
Target at 350 in 30 Days,
BUY and HOLD
PIRAMALHELTHTarget at 550++
FIIs were net sellers of Rs2.97bn in the cash segment on Wednesday on a provisional basis, according to NSE web site. Local institutions were net buyers of Rs1.8bn. In the F&O segment, the foreign funds were net buyers of Rs12.89bn. FIIs were net buyers of Rs1.43bn in the cash segment on Tuesday, as per the SEBI data. Mutual Funds were net sellers of Rs1.97bn in the cash segment on the same day.
Results Today:
Crompton Greaves, Educomp, Gammon India, Graphite India, Kewal Kiran, Koutons Retail, Lok Housing, MTNL, Plethico Pharma and Tata Coffee.
Corporate Snippets
Ranbaxy plans to divest its investments made by the previous promoter in the group companies. (ET)
Reliance Power may build gas-fired plant in Andhra Pradesh instead of Dadri after the Supreme Court verdict. (ET)
M&M to consolidate presence in utility vehicles segment. (BL)
Tata Steel wants prices for automobiles sector to be negotiated every quarter. (BL)
Godrej Consumer to buy out Sara Lee stake in their JV for a consideration of US$234mn. (ET)
Glodyne Technoserve has acquired DecisionOne, a US based IT firm for US$104mn. (ET)
HCC spins off IT unit into a fully-owned subsidiary. (ET)
Reliance Power may build gas-fired plant in Andhra Pradesh instead of Dadri after the Supreme Court verdict. (ET)
M&M to consolidate presence in utility vehicles segment. (BL)
Tata Steel wants prices for automobiles sector to be negotiated every quarter. (BL)
Godrej Consumer to buy out Sara Lee stake in their JV for a consideration of US$234mn. (ET)
Glodyne Technoserve has acquired DecisionOne, a US based IT firm for US$104mn. (ET)
HCC spins off IT unit into a fully-owned subsidiary. (ET)
Pre Market Commentary ...
Wild swings are here to stay though the outlook for the day appears slightly brighter. Risk aversion is still high with investors across the globe flocking to the safety of gold and the dollar. At the same time, stocks and commodities are showing some signs of staging a comeback. British shares rose as David Cameron took charge of the first coalition government in London since World War II. Spain’s announcement of a new austerity plan also helped boost confidence in equities.
Stocks in Europe as well as in the US posted smart gains. Asian markets are up this morning, led by Japan and South Korea though Shanghai continues to struggle amid tightening concerns. We expect a higher opening on Indian bourses. The NSE Nifty may take a shot at 5200 but will find it tough to get past 5300. Fund flows from overseas investors have tapered off lately and valuations remain quite rich. We are going through a volatile consolidation phase. It’s better to stay at a safe range and invest lesser than your means.
Stocks in Europe as well as in the US posted smart gains. Asian markets are up this morning, led by Japan and South Korea though Shanghai continues to struggle amid tightening concerns. We expect a higher opening on Indian bourses. The NSE Nifty may take a shot at 5200 but will find it tough to get past 5300. Fund flows from overseas investors have tapered off lately and valuations remain quite rich. We are going through a volatile consolidation phase. It’s better to stay at a safe range and invest lesser than your means.
Wednesday, May 12, 2010
सेन्सेक्स (17195.81) 54.28 अंक चढ्कर, नीफ़्टी (5156.65) 20.50 अंक चढ्कर, बंद..
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European markets update: FTSE Index 0.7%, CAC Index down 1.2% and DAX Index down 0.3%
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FIIs were net buyers of Rs201.9mn in the cash segment on Tuesday on a provisional basis, according to NSE web site. Local institutions were net buyers of Rs224.9mn. In the F&O segment, the foreign funds were net buyers of Rs19.74bn. FIIs were net buyers of Rs6.97bn in the cash segment on Monday, as per the SEBI data. Mutual Funds were net buyers of Rs1.23bn in the cash segment on the same day.
Results Today:
Bajaj Auto, Bajaj Holdings, Blue Star, DB Realty, Dewan Housing, Hathway Cable, Infinite Computers, MRPL, Thermax and Welspun India.
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