The market may extend last two days' fall with Sebi taking no decision on participatory notes (PNs) at its board meeting on Wednesday, 13 August 2008. But traders may refrain from taking large positions ahead of a long weekend. The market remains closed on Friday, 15 August 2008, on account of Independence Day.
Some expectations were that Sebi may extend the period for unwinding PNs, on underlying derivatives from 18 months to 24 months. PNs are issued by foreign institutional investors registered in India to unregistered overseas investors. In October 2007, Sebi had also restricted issuance of PNs in the spot segment to 40% of assets under custody and expectation was that it might raise the cap to 45% from 40%.
The government will today, 14 August 2008, release inflation data for the year through 2 August 2008, after trading hours. Inflation based on the wholesale price index rose 12.01% in 12 months to 26 July 2008, slightly above the previous week's annual rise of 11.98%. It was the highest reading in 13 years.
US stocks fell on Wednesday, 13 August 2008, as persistent concerns about the credit crisis hurt bank shares while a rebound in oil prices and weak outlooks at some retailers raised anxieties about consumer spending. The Dow Jones industrial average fell 109.51 points, or 0.94%, to 11,532.96, while the Standard & Poor's 500 Index slipped 3.76 points, or 0.29%, to 1,285.83. The Nasdaq Composite Index was down 1.99 points, or 0.08%, at 2,428.62.
Asian stocks were mixed today, 14 August 2008. Key benchmark indices in Hong Kong, South Korea and Taiwan were up by between 0.02% to0.1%. Key benchmark indices in China, Japan and Singapore were down by between 0.03% to 0.8%.
US crude oil for September 2008 delivery gained $2.99 to settle at $116 a barrel on Wednesday, 13 August 2008, after the latest US inventory report showed declines in oil and gasoline stockpiles.
Sebi on Wednesday, 13 August 2008, slashed the time period of rights issues to 43 days from current 109 days. Sebi has also changed the pricing rules with issue of shares by companies to qualified institutional buyers (QIB) in light of volatile markets. A QIB issue will now be based on the average share price of the previous two weeks, rather than a choice of an average of two weeks or six months, whichever is higher.
The market regulator has also extended the deadline for companies reporting consolidated results to two months from the quarter-end from one month now
Profit taking after a recent solid surge pulled the barometer index BSE Sensex down 410.80 points or 2.64% to 15,093.12 on Wednesday, 13 August 2008, from a recent high of 15503.92 hit on 11 August 2008.
As per provisional data released by the stock exchanges, foreign funds on Wednesday, 13 August 2008, sold shares worth a net Rs 915.58 crore. Domestic funds bought shares worth a net Rs 226.12 crore.
Thursday, August 14, 2008
Final subscription detail - Austral Coke / Resurgere Mines
Austral Coke & Projects Limited IPO oversubscribed by 1.65 times. Non Institutional category oversubscribed around 7.3197 times while Qualified Institutional Buyers (QIBs) quota subscribed 0.6230 times. Retail Individual Investors (RIIs) category oversubscribed 0.6866 times.
Resurgere Mines & Minerals India Limited IPO oversubscribed by 1.16 times. Non Institutional category oversubscribed around 2.4129 times while Qualified Institutional Buyers (QIBs) quota subscribed 1.3401 times. Retail Individual Investors (RIIs) category oversubscribed 0.3967 times and Employees category oversubscribed 1.0004 times.
Resurgere Mines & Minerals India Limited IPO oversubscribed by 1.16 times. Non Institutional category oversubscribed around 2.4129 times while Qualified Institutional Buyers (QIBs) quota subscribed 1.3401 times. Retail Individual Investors (RIIs) category oversubscribed 0.3967 times and Employees category oversubscribed 1.0004 times.
Post Market 13/08/2008
The market slipped for the second session in a row on weak global
cues. The key benchmark indices were highly volatile throughout the
session ahead of the outcome of the Securities and Exchange Board
of India's board meet to review the rules regarding the issuance of
participatory notes.
Banking and realty shares witnessed selling pressure, while IT
stocks flared up on weak domestic currency. Index pivotal ICICI
Bank was the biggest loser in the Sensex pack.
In Europe, key indices in UK, France and Germany were down 0.65% to
0.79%. Asian markets were weak. Key benchmark indices in Hong Kong,
Japan, South Korea, Singapore, China and Taiwan were down by
between 0.02% to 2.11%.
As per provisional closing, the BSE 30-share Sensex was down 101.10
points or 0.66% to 15,111.03. Sensex rose 60.43 points at the day's
high of 15,272.56 hit in early afternoon deals. At the day's low of
15,013.06, the Sensex lost 199.07 at the onset of trading session.
The S&P CNX Nifty provisionally ended 15.65 points or 0.34% lower
at 4536.60.
The BSE Mid-Cap index fell 0.14% at 5,927.39 and the BSE Small-Cap
index rose 0.14% at 7,230.40.
The market breadth, which was strong earlier, turned negative by
mid-afternoon trade. On BSE, 1246 shares advanced as compared to
1413 that declined. 88 shares remained unchanged.
BSE clocked a turnover of Rs 5052 crore as against Rs 5,874.74
crore on Tuesday, 12 August 2008
India's largest private sector bank by market capitalisation ICICI
Bank slipped 3.60% at Rs 711.80.
HDFC Bank (down 3.55% at Rs 1219), DLF (down 3.22% at Rs 549),
Reliance Infrastructure (down 2.78% at Rs 1064.25), and HDFC (down
2.05% at Rs 2416), were the other prominent losers from the Sensex
pack.
Major Sensex gainers were, Sterlite Industries (up 2.84% at Rs
614), TCS (up 1.43% at Rs 829.90), Bharti Airtel (up 0.86% at Rs
830), Grasim Industries (up 0.86% at Rs 2090.90), and Satyam
Computer (up 0.83% at Rs 406.10).
India's second largest software exporter by sales Infosys
Technologies rose 1.32% at Rs 1624.90.
India's largest private sector firm by market capitalisation and
oil refiner Reliance Industries rose 0.11% at Rs 2344.80. As per
reports, the Bombay High Court on Tuesday, 12 August 2008, once
again adjourned the hearing of a dispute between the company and
Reliance Natural Resources (RNRL) till 21 Aug 2008. The dispute is
about, which firm has the rights over gas supplies and at what
price. Reliance Natural Resources rose 1.47% at Rs 103.60.
Worlds sixth largest steel maker Tata Steel rose 0.64% at Rs 611.85
after the company said its Singapore unit signed a joint venture
agreement with Vietnam Steel Corp and Vietnam Cement Industries to
build a steel complex in the Southeast Asian country.
India's largest aluminium manufacturer in terms of sales Hindalco
Industries was down 2.04% to Rs 139.50. The company said its board
will meet on 14 August 2008 to determine the price and other terms
and conditions of the proposed rights offering. As per reports,
Hindalco will set rights issue price at Rs 96 per share.
Infrastructure developer BSEL Infrastructure Realty surged 5.12% to
Rs 39 after the company said its board will meet on 20 August 2008
to consider the funding of $100 million for ongoing and future
projects of the company.
Cable TV network distributor Wire & Wireless India gained 2.68% to
Rs 26.85 after the company said its board will meet on 20 August
2008 to consider issue of equity shares on a rights basis.
Real estate firm Puravankara Projects rose 1.03% at Rs 200.70 after
the company said it will set up a unit for low-cost housing and
invest Rs 8000 crore over five years to develop 60 million square
feet of land.
Auto parts maker JBM Auto rose 4.08% to Rs 35.70 after the company
said it will invest Rs 245 crore in a plant in Pune to supply skin
panels for the joint venture between Tata Motors and Fiat.
US stocks fell on Tuesday, 12 August 2008, as bank shares tumbled
on fresh worries about the economy and further losses stemming from
the mortgage crisis. The Dow Jones industrial average fell 139.88
points, or 1.19%, to 11,642.47, while the Standard & Poor's 500
Index slid 15.73 points, or 1.21%, to 1,289.59. The Nasdaq
Composite Index dropped 9.34 points, or 0.38%, to 2,430.61.
Oil extended its sharp decline witnessed over the past few days. US
crude oil for September delivery fell $1.44 to settle at $113.01 a
barrel on Tuesday, 12 August 2008, on the New York Mercantile
Exchange on concerns about a slowing economy and a drop in demand.
India's industrial output rose 5.4% in June 2008 from a year
earlier, above the previous month's upwardly revised 4.1%, data
released by the government on Tuesday, 12 August 2008, showed. The
growth was much lower than double-digit growth seen in 2006 and
early 2007.
The board of market regulator Securities & Exchange Board of India
will review the regulatory framework governing participatory notes
(PNs), at its meeting today, 13 August 2008. As per reports, Sebi
may extend the period for unwinding participatory notes, or
P-notes, on underlying derivatives from 18 months to 24 months.
P-notes are issued by foreign institutional investors registered in
India to unregistered overseas investors.
The market regulator put curbs on PNs last year to help the
government keep track of foreign flows into the country. Sebi had
restricted issuance of P-notes in the spot segment to 40% of assets
under custody and reports sugest it might raise the cap to 45% from
40%.
cues. The key benchmark indices were highly volatile throughout the
session ahead of the outcome of the Securities and Exchange Board
of India's board meet to review the rules regarding the issuance of
participatory notes.
Banking and realty shares witnessed selling pressure, while IT
stocks flared up on weak domestic currency. Index pivotal ICICI
Bank was the biggest loser in the Sensex pack.
In Europe, key indices in UK, France and Germany were down 0.65% to
0.79%. Asian markets were weak. Key benchmark indices in Hong Kong,
Japan, South Korea, Singapore, China and Taiwan were down by
between 0.02% to 2.11%.
As per provisional closing, the BSE 30-share Sensex was down 101.10
points or 0.66% to 15,111.03. Sensex rose 60.43 points at the day's
high of 15,272.56 hit in early afternoon deals. At the day's low of
15,013.06, the Sensex lost 199.07 at the onset of trading session.
The S&P CNX Nifty provisionally ended 15.65 points or 0.34% lower
at 4536.60.
The BSE Mid-Cap index fell 0.14% at 5,927.39 and the BSE Small-Cap
index rose 0.14% at 7,230.40.
The market breadth, which was strong earlier, turned negative by
mid-afternoon trade. On BSE, 1246 shares advanced as compared to
1413 that declined. 88 shares remained unchanged.
BSE clocked a turnover of Rs 5052 crore as against Rs 5,874.74
crore on Tuesday, 12 August 2008
India's largest private sector bank by market capitalisation ICICI
Bank slipped 3.60% at Rs 711.80.
HDFC Bank (down 3.55% at Rs 1219), DLF (down 3.22% at Rs 549),
Reliance Infrastructure (down 2.78% at Rs 1064.25), and HDFC (down
2.05% at Rs 2416), were the other prominent losers from the Sensex
pack.
Major Sensex gainers were, Sterlite Industries (up 2.84% at Rs
614), TCS (up 1.43% at Rs 829.90), Bharti Airtel (up 0.86% at Rs
830), Grasim Industries (up 0.86% at Rs 2090.90), and Satyam
Computer (up 0.83% at Rs 406.10).
India's second largest software exporter by sales Infosys
Technologies rose 1.32% at Rs 1624.90.
India's largest private sector firm by market capitalisation and
oil refiner Reliance Industries rose 0.11% at Rs 2344.80. As per
reports, the Bombay High Court on Tuesday, 12 August 2008, once
again adjourned the hearing of a dispute between the company and
Reliance Natural Resources (RNRL) till 21 Aug 2008. The dispute is
about, which firm has the rights over gas supplies and at what
price. Reliance Natural Resources rose 1.47% at Rs 103.60.
Worlds sixth largest steel maker Tata Steel rose 0.64% at Rs 611.85
after the company said its Singapore unit signed a joint venture
agreement with Vietnam Steel Corp and Vietnam Cement Industries to
build a steel complex in the Southeast Asian country.
India's largest aluminium manufacturer in terms of sales Hindalco
Industries was down 2.04% to Rs 139.50. The company said its board
will meet on 14 August 2008 to determine the price and other terms
and conditions of the proposed rights offering. As per reports,
Hindalco will set rights issue price at Rs 96 per share.
Infrastructure developer BSEL Infrastructure Realty surged 5.12% to
Rs 39 after the company said its board will meet on 20 August 2008
to consider the funding of $100 million for ongoing and future
projects of the company.
Cable TV network distributor Wire & Wireless India gained 2.68% to
Rs 26.85 after the company said its board will meet on 20 August
2008 to consider issue of equity shares on a rights basis.
Real estate firm Puravankara Projects rose 1.03% at Rs 200.70 after
the company said it will set up a unit for low-cost housing and
invest Rs 8000 crore over five years to develop 60 million square
feet of land.
Auto parts maker JBM Auto rose 4.08% to Rs 35.70 after the company
said it will invest Rs 245 crore in a plant in Pune to supply skin
panels for the joint venture between Tata Motors and Fiat.
US stocks fell on Tuesday, 12 August 2008, as bank shares tumbled
on fresh worries about the economy and further losses stemming from
the mortgage crisis. The Dow Jones industrial average fell 139.88
points, or 1.19%, to 11,642.47, while the Standard & Poor's 500
Index slid 15.73 points, or 1.21%, to 1,289.59. The Nasdaq
Composite Index dropped 9.34 points, or 0.38%, to 2,430.61.
Oil extended its sharp decline witnessed over the past few days. US
crude oil for September delivery fell $1.44 to settle at $113.01 a
barrel on Tuesday, 12 August 2008, on the New York Mercantile
Exchange on concerns about a slowing economy and a drop in demand.
India's industrial output rose 5.4% in June 2008 from a year
earlier, above the previous month's upwardly revised 4.1%, data
released by the government on Tuesday, 12 August 2008, showed. The
growth was much lower than double-digit growth seen in 2006 and
early 2007.
The board of market regulator Securities & Exchange Board of India
will review the regulatory framework governing participatory notes
(PNs), at its meeting today, 13 August 2008. As per reports, Sebi
may extend the period for unwinding participatory notes, or
P-notes, on underlying derivatives from 18 months to 24 months.
P-notes are issued by foreign institutional investors registered in
India to unregistered overseas investors.
The market regulator put curbs on PNs last year to help the
government keep track of foreign flows into the country. Sebi had
restricted issuance of P-notes in the spot segment to 40% of assets
under custody and reports sugest it might raise the cap to 45% from
40%.
Tuesday, August 12, 2008
12th August 2008 - Tips
Sell ANSALINFRA below 100 stoploss 101 target 99/97
Buy Gujrat Alkali Buy above 179, Target : 190 - 192 Stop Loss : 172
Buy Educomp Soluions Buy above 3535 , Target : 3596-3636, Stop Loss : 3510
Buy AUROBINDO PHARMA Target : 321 - 324
Buy Gujrat Alkali Buy above 179, Target : 190 - 192 Stop Loss : 172
Buy Educomp Soluions Buy above 3535 , Target : 3596-3636, Stop Loss : 3510
Buy AUROBINDO PHARMA Target : 321 - 324
Monday, August 11, 2008
Indices surge in opening trade
he market opened higher as investors rejoiced further decline in
crude oil prices. All the sectoral indces on BSE were in green led
by banking shares. Mid-caps and small-caps, too, witnessed demand.
US front-month crude oil settled on Friday, 8 August 2008, at
$115.20 a barrel, down $4.82 for the day on the New York Mercantile
Exchange. In post-settlement trading, crude tumbled more than $5 to
$114.62 a barrel -- more than 20% below its NYMEX record high above
$147 set in July 2008.
The slide in oil prices to their lowest level in three months
powered a rally in US stocks on Friday, 8 August 2008. The Dow
Jones industrial average rose 302.89 points, or 2.65%, to
11,734.32, while the Standard & Poor's 500 Index jumped 30.25
points, or 2.39%, to 1,296.32. The Nasdaq Composite Index gained
58.37 points, or 2.48%, to 2,414.10.
Asian market, which opened before Indian market, were in green. The
key benchmark indices in Hong Kong, Japan, Singapore, South Korea
and Taiwan were up by between 1.09% to 2.15%.
At 10:25 IST, the BSE 30-share Sensex was up 280.36 points or 1.85%
to 15,448.18. The index rose 314.33 points at day's high of
15,482.15 at the onset of trading session. At the day's low of
15,418.18, the Sensex rose 250.36 in early trade.
The S&P CNX Nifty was up 70 points or 1.55% to 4599.50.
The BSE Mid-Cap index was up 1.43% to 5,971.44 and the BSE
Small-Cap index was up 1.39% to 7,281.60.
The market breadth was strong on BSE with 1417 shares advancing as
compared to 328 that declined. 26 shares remained unchanged.
Top gainers from the Sensex pack were, State Bank of India (up
3.49% at Rs 1,575), Jaiprakash Associates (up 3.19% at Rs 189.35),
Maruti Suzuki (up 2.40% at Rs 695.95), Bharat Heavy Electricals (up
2.38% at Rs 1,825.65), and Reliance Communication (up 2.29% at Rs
448.50).
India's largest private sector bank by market capitalisation ICICI
Bank rose 3.17% at Rs 752.
India's largest private sector firm by market capitalisation and
oil refiner Reliance Industries rose 1.93% at Rs 2,293.80.
India's second largest software exporter by sales Infosys
Technologies rose 2.03% at Rs 1,714.
Natural gas distributor Reliance Natural Resources was the top
traded counter on BSE. The stock rose 1.88% at Rs 105.65 on a
turnover of Rs 29.76 crore on BSE.
The Securities & Exchange Board of India (Sebi) will hold a board
meeting on Wednesday, 13 August 2008 to review FII regulations,
where it may revisit the norms relating to participatory notes and
securities lending and borrowing mechanism.
crude oil prices. All the sectoral indces on BSE were in green led
by banking shares. Mid-caps and small-caps, too, witnessed demand.
US front-month crude oil settled on Friday, 8 August 2008, at
$115.20 a barrel, down $4.82 for the day on the New York Mercantile
Exchange. In post-settlement trading, crude tumbled more than $5 to
$114.62 a barrel -- more than 20% below its NYMEX record high above
$147 set in July 2008.
The slide in oil prices to their lowest level in three months
powered a rally in US stocks on Friday, 8 August 2008. The Dow
Jones industrial average rose 302.89 points, or 2.65%, to
11,734.32, while the Standard & Poor's 500 Index jumped 30.25
points, or 2.39%, to 1,296.32. The Nasdaq Composite Index gained
58.37 points, or 2.48%, to 2,414.10.
Asian market, which opened before Indian market, were in green. The
key benchmark indices in Hong Kong, Japan, Singapore, South Korea
and Taiwan were up by between 1.09% to 2.15%.
At 10:25 IST, the BSE 30-share Sensex was up 280.36 points or 1.85%
to 15,448.18. The index rose 314.33 points at day's high of
15,482.15 at the onset of trading session. At the day's low of
15,418.18, the Sensex rose 250.36 in early trade.
The S&P CNX Nifty was up 70 points or 1.55% to 4599.50.
The BSE Mid-Cap index was up 1.43% to 5,971.44 and the BSE
Small-Cap index was up 1.39% to 7,281.60.
The market breadth was strong on BSE with 1417 shares advancing as
compared to 328 that declined. 26 shares remained unchanged.
Top gainers from the Sensex pack were, State Bank of India (up
3.49% at Rs 1,575), Jaiprakash Associates (up 3.19% at Rs 189.35),
Maruti Suzuki (up 2.40% at Rs 695.95), Bharat Heavy Electricals (up
2.38% at Rs 1,825.65), and Reliance Communication (up 2.29% at Rs
448.50).
India's largest private sector bank by market capitalisation ICICI
Bank rose 3.17% at Rs 752.
India's largest private sector firm by market capitalisation and
oil refiner Reliance Industries rose 1.93% at Rs 2,293.80.
India's second largest software exporter by sales Infosys
Technologies rose 2.03% at Rs 1,714.
Natural gas distributor Reliance Natural Resources was the top
traded counter on BSE. The stock rose 1.88% at Rs 105.65 on a
turnover of Rs 29.76 crore on BSE.
The Securities & Exchange Board of India (Sebi) will hold a board
meeting on Wednesday, 13 August 2008 to review FII regulations,
where it may revisit the norms relating to participatory notes and
securities lending and borrowing mechanism.
Pre Market Report 11/08/2008
A rally in global equities triggered by a further fall in oil prices will extend gains on the domestic bourses. Concerns about slowing European and Asian economies boosted the dollar and fed worries about lower demand for oil. US front-month crude dropped more than $5 in post-settlement trading to $114.62 a barrel on Friday, 8 August 2008 -- more than 20% below its July 2008 record high.
The slide in oil prices to their lowest level in three months powered a rally in US stocks on Friday, 8 August 2008. The Dow Jones industrial average rose 302.89 points, or 2.65%, to 11,734.32, while the Standard & Poor's 500 Index jumped 30.25 points, or 2.39%, to 1,296.32. The Nasdaq Composite Index gained 58.37 points, or 2.48%, to 2,414.10.
In Asia, key benchmark indices in Hong Kong, Japan, Singapore, South Korea and Taiwan were up by between 0.17% to 1.5%.
The Indian stock market has staged solid rebound from lower level tracking recovery in global markets triggered by a sharp fall in commodity prices led by oil price which had struck a record high above $147 a barrel on 11 July 2008. From a low of 12,575.80 on 16 July 2008, the barometer index BSE Sensex jumped 2,592.02 points or 20.6% to 15,167.82 on 8 August 2008.
Inflation which hit a fresh 13-year high of 12.01% in the year through 26 July 2008, remains a concern. High inflation will mean that tight monetary policy stance by the central bank may continue. The Reserve Bank of India, at its quarterly policy review late month raised repo rate by 50 basis points to a seven-year high of 9% to curb inflation and dampen inflationary expectations. RBI also raised the cash reserve ratio (CRR), the proportion of funds that banks must keep on deposit with it, by 25 basis points to 9%.
The government will tomorrow, 12 August 2008, release industrial production data for June 2008. Industrial production grew at the slowest pace in more than six years in May 2008, at 3.8%, as against 10.6% in the same month of 2007, with manufacturing showing signs of acute deceleration.
As per provisional data released by the stock exchanges, foreign funds on Friday, 8 August 2008, sold shares worth a net Rs 142.22 crore. Domestic funds bought shares worth a net Rs 16.29 crore.
The slide in oil prices to their lowest level in three months powered a rally in US stocks on Friday, 8 August 2008. The Dow Jones industrial average rose 302.89 points, or 2.65%, to 11,734.32, while the Standard & Poor's 500 Index jumped 30.25 points, or 2.39%, to 1,296.32. The Nasdaq Composite Index gained 58.37 points, or 2.48%, to 2,414.10.
In Asia, key benchmark indices in Hong Kong, Japan, Singapore, South Korea and Taiwan were up by between 0.17% to 1.5%.
The Indian stock market has staged solid rebound from lower level tracking recovery in global markets triggered by a sharp fall in commodity prices led by oil price which had struck a record high above $147 a barrel on 11 July 2008. From a low of 12,575.80 on 16 July 2008, the barometer index BSE Sensex jumped 2,592.02 points or 20.6% to 15,167.82 on 8 August 2008.
Inflation which hit a fresh 13-year high of 12.01% in the year through 26 July 2008, remains a concern. High inflation will mean that tight monetary policy stance by the central bank may continue. The Reserve Bank of India, at its quarterly policy review late month raised repo rate by 50 basis points to a seven-year high of 9% to curb inflation and dampen inflationary expectations. RBI also raised the cash reserve ratio (CRR), the proportion of funds that banks must keep on deposit with it, by 25 basis points to 9%.
The government will tomorrow, 12 August 2008, release industrial production data for June 2008. Industrial production grew at the slowest pace in more than six years in May 2008, at 3.8%, as against 10.6% in the same month of 2007, with manufacturing showing signs of acute deceleration.
As per provisional data released by the stock exchanges, foreign funds on Friday, 8 August 2008, sold shares worth a net Rs 142.22 crore. Domestic funds bought shares worth a net Rs 16.29 crore.
Tips for 11th Aug
DLF CMP: 549.75 TARGET:749 in 1 month STOP: 502
Jai Hind Projects CMP:103.55 target: 119 Stop:98
Jai Hind Projects CMP:103.55 target: 119 Stop:98
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