Wall Street rebounded sharply Tuesday after the Federal Reserve and other central banks said they will pump $200 billion into the financial markets to help ease the strain from the credit crisis.
After this news came the Europe market also went up sharply
US Market at 12:25AM IST
Dow 12,057.33 +317.18 +2.70%
Nasdaq 2,231.83 +62.49 +2.88%
S&P 500 1,307.86 +34.49 +2.71%
Europe Markets End in Green
FTSE 100 5,690.40 +61.30 +1.09%
DAX 6,524.57 +76.49 +1.19%
CAC 40 4,627.69 +60.70 +1.33%
Indian Market outlook for 12th
Market will open Gap up. NSE will go more than 100 points up.
Wednesday, March 12, 2008
Nifty View 12th March
After today’s Move the nifty will find next resistances at 5000/5100/5175, all very strong resistances and hence one need to be cautious at these levels. Once these are crossed then we will be back in BULL market but looks bit difficult at this stage. Now we have a strong support at 4800, below which again BEAR market appears. Keep booking profits at upper levels.
Fed Easing Liquidity in Funding Markets - US Market up more than 2%
Fed Easing Liquidity in Funding Markets
The Federal Reserve on Tuesday announced it is ramping up efforts to provide more relief to cash-strapped financial institutions, a coordinated action with other central banks aimed at easing a global credit crises that threatens to push the U.S. economy into its first recession since 2001
Washington – The U.S. Federal Reserve announced that G-10 central banks are continuing to work together to address liquidity pressures, with the Fed expanding its securities lending program by $200 billion.
Under the new Term Securities Lending Facility (TSLF), the Fed will lend up to $200 billion in Treasury securities to primary dealers secured for a term of 28 days (rather than overnight, as in the existing program) by a pledge of other securities, including federal agency debt, federal agency residential mortgage-backed securities (MBS) and non-agency AAA/Aaa-rated private-label residential MBS.
The TSLF is intended to promote liquidity in the financing markets for Treasury and other collateral and to foster the more general functioning of financial markets.
Securities will be made available through an auction process, held on a weekly basis beginning on March 27, 2008.
The FOMC also authorized increases in its existing temporary reciprocal currency arrangements, also known as swap lines, with the European Central Bank and the Swiss National Bank. These arrangements will now provide dollars in amounts of up to $30 billion and $6 billion to the ECB and SNB respectively, representing increases of $10 billion and $2 billion.
The FOMC extended the term of these swap lines through Sept. 30, 2008.
Joining the Fed in the announcement are the Bank of Canada, the Bank of England, the European Central Bank and the Swiss National Bank.
US Markets Surge
@7:20PM IST
Dow 11,986.66 +246.51 +2.10%
Nasdaq 2,215.19 +45.85 +2.11%
S&P 500 1,300.00 +26.63 +2.09%
Europe Markets Surge after US@7:20PM IST
FTSE 100 5,760.10 +131.00 +2.33%
DAX 6,597.64 +149.56 +2.32%
CAC 40 4,677.69 +110.70 +2.42%
The Federal Reserve on Tuesday announced it is ramping up efforts to provide more relief to cash-strapped financial institutions, a coordinated action with other central banks aimed at easing a global credit crises that threatens to push the U.S. economy into its first recession since 2001
Washington – The U.S. Federal Reserve announced that G-10 central banks are continuing to work together to address liquidity pressures, with the Fed expanding its securities lending program by $200 billion.
Under the new Term Securities Lending Facility (TSLF), the Fed will lend up to $200 billion in Treasury securities to primary dealers secured for a term of 28 days (rather than overnight, as in the existing program) by a pledge of other securities, including federal agency debt, federal agency residential mortgage-backed securities (MBS) and non-agency AAA/Aaa-rated private-label residential MBS.
The TSLF is intended to promote liquidity in the financing markets for Treasury and other collateral and to foster the more general functioning of financial markets.
Securities will be made available through an auction process, held on a weekly basis beginning on March 27, 2008.
The FOMC also authorized increases in its existing temporary reciprocal currency arrangements, also known as swap lines, with the European Central Bank and the Swiss National Bank. These arrangements will now provide dollars in amounts of up to $30 billion and $6 billion to the ECB and SNB respectively, representing increases of $10 billion and $2 billion.
The FOMC extended the term of these swap lines through Sept. 30, 2008.
Joining the Fed in the announcement are the Bank of Canada, the Bank of England, the European Central Bank and the Swiss National Bank.
US Markets Surge
@7:20PM IST
Dow 11,986.66 +246.51 +2.10%
Nasdaq 2,215.19 +45.85 +2.11%
S&P 500 1,300.00 +26.63 +2.09%
Europe Markets Surge after US@7:20PM IST
FTSE 100 5,760.10 +131.00 +2.33%
DAX 6,597.64 +149.56 +2.32%
CAC 40 4,677.69 +110.70 +2.42%
Indian Market today
The 30-share BSE Sensex gained 199.43 points or 1.25% at 16,123.15.
It opened slightly lower at 15,778.27 and slipped further to touch
a low of 15,739.05 in early trade. At the day's low, the Sensex
lost 184.67 points. It gained 244.41 points at day's high of
16,168.13 hit in early afternoon trade.
The broader based S&P CNX Nifty advanced 65.50 points or 1.36% at
4,865.90. Nifty March 2008 futures were at 4846.30, a discount of
19.60 points as compared to spot closing
The market breadth was strong: On BSE 2,070 shares advanced as
compared to 634 that declined. 37 shares remained unchanged.
The BSE Mid-Cap index rose 3.32% to 6,992.84 and the BSE Small-Cap
index gained 3.75% to 8,557.72. Both these indices outperformed the
Sensex.
The total turnover amounted to Rs 7253 crore as compared to Rs 6896
crore yesterday, 10 March 2008.
Turnover in NSE's futures & options segment declined to Rs 38176.25
crore as compared to Rs 42402.30 crore yesterday, 10 March 2008.
Most sectoral indices on BSE posted gains. The BSE Consumer
Durables index (up 2.75% to 4,259.52), the BSE Power (up 5.11% to
3,271.52), the BSE Capital Goods index (up 5.39% at 14,060.65), the
BSE Realty index (up 6.76% at 8,226.89), the BSE Metal index (up
1.73% to 16,072.74), the BSE Oil & Gas index (up 3.28% to
10,560.64), and the BSE PSU index (up 3.35% to 7,867.91),
outperformed the Sensex.
The BSE IT index (down 0.62% to 3,548.78), the BSE FMCG index (up
0.65% at 2,204.41), the BSE Health Care index (up 0.95% at
3,833.51), the BSE TecK index (down 0.47% to 3,055.70), the BSE
Bankex (up 0.58% at 8,487.24), the BSE Auto (up 0.33% at 4,669.34),
underperformed the Sensex
Shares from real estate sector surged on fresh buying. India's
largest real estate developer DLF surged 10.53% to Rs 752 on 10.58
lakh shares. It was the top gainer from Sensex pack.
Other gainers from real estate sector were HDIL (up 6.70% to Rs
681), Indiabulls Real Estate (up 6.57% to Rs 516.50) and Unitech
(up 3.81% to Rs 283.30), edged higher.
Heavyweights from capital goods sector staged a smart comeback
after sell-off on previous day. India's largest private sector
engineering & construction company in terms of order book galloped
6.90% to Rs 2916.50. The stock had plunged 8.57% to Rs 2732 on
concerns of losses from commodity hedging for the fiscal year
ending March 2008.
India's largest engineering & construction company in terms of
order book, Bharat Heavy Electricals gained 4.74% to Rs 2001, after
hitting low of Rs 1880. The stock lost 6.20% to Rs 1900 yesterday.
India's second largest two wheeler maker by sales Bajaj Auto eased
from day's high of Rs 2140. It settled 4.80% higher at Rs 2078. The
stock surged ahead of record date of 25 March 2008 for effecting
the scheme of arrangement.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries advanced 3.16%
to Rs 2345.05 on 9.05 lakh shares. The stock recovered sharply
after hitting low of Rs 2215.15 in early trade
ACC (up 5.56% to Rs 809), NPTC (up 4.26% to Rs 193.25), and Ranbaxy
Laboratories (up 4.73% to Rs 453.90), were the other gainers from
Sensex pack.
India's top small car maker in terms of sales, Maruti Suzuki India
lost 3.65% to Rs 860.90 on 2.53 lakh shares. It was the top loser
from the Sensex pack
IT pivotals were subdued. Satyam Computer Services (down 2.94% to
Rs 396), TCS (down 1.16% to Rs 822), and Wipro (down 2.96% to Rs
390.10), also declined
HDFC (down 2.52% to Rs 2505), and Cipla (down 2.91% to Rs 195.05),
were the other losers from Sensex pack.
Tata Motors dropped 2.36% to Rs 658. The company's board approved
raising additional long-term funds of up to Rs 4000 crore.
Shares from sugar sector surged on momentum buying. Shree Renuka
Sugars (up 31.36% to Rs 1160), Bajaj Hindustan (up 12.73% to Rs
236), Balrampur Chini Mills (up 10.51% to Rs 95.65), and Sakthi
Sugars (up 13.60% to Rs 74.35), surged on high volumes.
Reliance Energy was the top traded counter on BSE with turnover of
Rs 596.69 crore followed by RNRL (Rs 319.06 crore), GSS America
Infotech (Rs 311.81 crore), Reliance Petroleum (Rs 280.18 crore)
and Reliance Industries (Rs 208.20 crore) in that order.
Among the side counters, English Indian Clays (up 20% to Rs
1006.55), Shakti Pumps (up 20% to Rs 134.20), Deepak Fertilisers
(up 20% to Rs 105.75), SKY Industries (up 20% to Rs 59.20), and
Noida Toll Bridge (up 20% to Rs 43.55), surged.
However Network 18 Fincap (down 13.20% to Rs 310), Poddar Pigments
(down 10% to Rs 36.50), and Midas Pharma (down 10% to Rs 12.65),
slipped
Kotak Mahindra Bank vaulted 10.68% to Rs 679 after the private
sector bank denied reports of its books in a special audit by
Reserve Bank of India.
Orbit Corporation jumped 11.05% to Rs 534 after the firm sold a
stake in a unit, Orbit Highcity, to Cyprus-based Rodere Holdings
for Rs 200 crore. The investment would be used to develop township
projects in metropolitan region.
GAIL (India) rose 6.25% to Rs 418.50 on reports the company will
consider issuing bonus shares in two to three months. According to
reports, the company has planned a capital expenditure of Rs 4,200
crore for the full year ending March 2009, up from Rs 2,300 crore
this year.
It opened slightly lower at 15,778.27 and slipped further to touch
a low of 15,739.05 in early trade. At the day's low, the Sensex
lost 184.67 points. It gained 244.41 points at day's high of
16,168.13 hit in early afternoon trade.
The broader based S&P CNX Nifty advanced 65.50 points or 1.36% at
4,865.90. Nifty March 2008 futures were at 4846.30, a discount of
19.60 points as compared to spot closing
The market breadth was strong: On BSE 2,070 shares advanced as
compared to 634 that declined. 37 shares remained unchanged.
The BSE Mid-Cap index rose 3.32% to 6,992.84 and the BSE Small-Cap
index gained 3.75% to 8,557.72. Both these indices outperformed the
Sensex.
The total turnover amounted to Rs 7253 crore as compared to Rs 6896
crore yesterday, 10 March 2008.
Turnover in NSE's futures & options segment declined to Rs 38176.25
crore as compared to Rs 42402.30 crore yesterday, 10 March 2008.
Most sectoral indices on BSE posted gains. The BSE Consumer
Durables index (up 2.75% to 4,259.52), the BSE Power (up 5.11% to
3,271.52), the BSE Capital Goods index (up 5.39% at 14,060.65), the
BSE Realty index (up 6.76% at 8,226.89), the BSE Metal index (up
1.73% to 16,072.74), the BSE Oil & Gas index (up 3.28% to
10,560.64), and the BSE PSU index (up 3.35% to 7,867.91),
outperformed the Sensex.
The BSE IT index (down 0.62% to 3,548.78), the BSE FMCG index (up
0.65% at 2,204.41), the BSE Health Care index (up 0.95% at
3,833.51), the BSE TecK index (down 0.47% to 3,055.70), the BSE
Bankex (up 0.58% at 8,487.24), the BSE Auto (up 0.33% at 4,669.34),
underperformed the Sensex
Shares from real estate sector surged on fresh buying. India's
largest real estate developer DLF surged 10.53% to Rs 752 on 10.58
lakh shares. It was the top gainer from Sensex pack.
Other gainers from real estate sector were HDIL (up 6.70% to Rs
681), Indiabulls Real Estate (up 6.57% to Rs 516.50) and Unitech
(up 3.81% to Rs 283.30), edged higher.
Heavyweights from capital goods sector staged a smart comeback
after sell-off on previous day. India's largest private sector
engineering & construction company in terms of order book galloped
6.90% to Rs 2916.50. The stock had plunged 8.57% to Rs 2732 on
concerns of losses from commodity hedging for the fiscal year
ending March 2008.
India's largest engineering & construction company in terms of
order book, Bharat Heavy Electricals gained 4.74% to Rs 2001, after
hitting low of Rs 1880. The stock lost 6.20% to Rs 1900 yesterday.
India's second largest two wheeler maker by sales Bajaj Auto eased
from day's high of Rs 2140. It settled 4.80% higher at Rs 2078. The
stock surged ahead of record date of 25 March 2008 for effecting
the scheme of arrangement.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries advanced 3.16%
to Rs 2345.05 on 9.05 lakh shares. The stock recovered sharply
after hitting low of Rs 2215.15 in early trade
ACC (up 5.56% to Rs 809), NPTC (up 4.26% to Rs 193.25), and Ranbaxy
Laboratories (up 4.73% to Rs 453.90), were the other gainers from
Sensex pack.
India's top small car maker in terms of sales, Maruti Suzuki India
lost 3.65% to Rs 860.90 on 2.53 lakh shares. It was the top loser
from the Sensex pack
IT pivotals were subdued. Satyam Computer Services (down 2.94% to
Rs 396), TCS (down 1.16% to Rs 822), and Wipro (down 2.96% to Rs
390.10), also declined
HDFC (down 2.52% to Rs 2505), and Cipla (down 2.91% to Rs 195.05),
were the other losers from Sensex pack.
Tata Motors dropped 2.36% to Rs 658. The company's board approved
raising additional long-term funds of up to Rs 4000 crore.
Shares from sugar sector surged on momentum buying. Shree Renuka
Sugars (up 31.36% to Rs 1160), Bajaj Hindustan (up 12.73% to Rs
236), Balrampur Chini Mills (up 10.51% to Rs 95.65), and Sakthi
Sugars (up 13.60% to Rs 74.35), surged on high volumes.
Reliance Energy was the top traded counter on BSE with turnover of
Rs 596.69 crore followed by RNRL (Rs 319.06 crore), GSS America
Infotech (Rs 311.81 crore), Reliance Petroleum (Rs 280.18 crore)
and Reliance Industries (Rs 208.20 crore) in that order.
Among the side counters, English Indian Clays (up 20% to Rs
1006.55), Shakti Pumps (up 20% to Rs 134.20), Deepak Fertilisers
(up 20% to Rs 105.75), SKY Industries (up 20% to Rs 59.20), and
Noida Toll Bridge (up 20% to Rs 43.55), surged.
However Network 18 Fincap (down 13.20% to Rs 310), Poddar Pigments
(down 10% to Rs 36.50), and Midas Pharma (down 10% to Rs 12.65),
slipped
Kotak Mahindra Bank vaulted 10.68% to Rs 679 after the private
sector bank denied reports of its books in a special audit by
Reserve Bank of India.
Orbit Corporation jumped 11.05% to Rs 534 after the firm sold a
stake in a unit, Orbit Highcity, to Cyprus-based Rodere Holdings
for Rs 200 crore. The investment would be used to develop township
projects in metropolitan region.
GAIL (India) rose 6.25% to Rs 418.50 on reports the company will
consider issuing bonus shares in two to three months. According to
reports, the company has planned a capital expenditure of Rs 4,200
crore for the full year ending March 2009, up from Rs 2,300 crore
this year.
Tuesday, March 11, 2008
Asian Markets Flat after lower opening
Asian Markets trading flat after recovering from lows except Hangseng which is down by 1.5%. Indian market may open negative but will be flat and range bound
Nikkei 225 12,549.33 +17.20 +0.14%
Hang Seng 22,371.93 -333.12 -1.47%
Straits Times 2,833.45 -3.14 -0.11%
Nikkei 225 12,549.33 +17.20 +0.14%
Hang Seng 22,371.93 -333.12 -1.47%
Straits Times 2,833.45 -3.14 -0.11%
Stocks Slide on Mixed News, Surging Oil - US market Closes in RED
Wall Street sank Monday as oil's surge above $108 a barrel and more worrisome signs for the financial sector led investors to extend last week's losses. The Dow Jones industrial average fell more than 150 points, bringing its three-day loss to nearly 515, while broader indexes showed steeper percentage losses
US market Closes in RED
Dow 11,740.15 -153.54 -1.29%
Nasdaq 2,169.34 -43.15 -1.95%
S&P 500 1,273.37 -20.00 -1.55%
US market Closes in RED
Dow 11,740.15 -153.54 -1.29%
Nasdaq 2,169.34 -43.15 -1.95%
S&P 500 1,273.37 -20.00 -1.55%
IPO Listings and subscription Details
Rural Electrification Corporation Ltd IPO Listing Info:
IPO Listing Date: Wednesday, March 12, 2008
NSE Symbol: RECLTD
ISIN: INE020B01018
Issue Price: Rs 105/-
Face Value: Rs 10/- Per Equity Share
V-Guard Industries Ltd Listing Info:
IPO Listing Date: Thursday, March 13, 2008
BSE Script Code: 532953
NSE Symbol: VGUARD
Listing in: B Group of securities
ISIN: INE951I01019
Issue Price: Rs 82/-
Face Value: Rs 10/- Per Equity Share
Gammon Infra Projects Ltd IPO subscribed 0.64 times (0.0046 times in retail) on its 1st day. Issue closing on March 13, 2008.
IPO Listing Date: Wednesday, March 12, 2008
NSE Symbol: RECLTD
ISIN: INE020B01018
Issue Price: Rs 105/-
Face Value: Rs 10/- Per Equity Share
V-Guard Industries Ltd Listing Info:
IPO Listing Date: Thursday, March 13, 2008
BSE Script Code: 532953
NSE Symbol: VGUARD
Listing in: B Group of securities
ISIN: INE951I01019
Issue Price: Rs 82/-
Face Value: Rs 10/- Per Equity Share
Gammon Infra Projects Ltd IPO subscribed 0.64 times (0.0046 times in retail) on its 1st day. Issue closing on March 13, 2008.
Stock calls for 11th March
Some stocks like AMBUJACEM,SUZLON,JPASSOCIAT,PRAJ IND, RPL,GMRINFRA, CAIRN,ISPATIND, L&T, IDFC,TTML, TITAN, GIPCL, IDEA looking good for Tuesday.. We wil wait global cues for tomorrows exact trend
NIFTY Views for 11 March
todays Market
The two niche indices, BSE Sensex and S&P CNX Nifty, saw divergent
trend with the later posting gains helped by spurt in non-Sensex
constituents viz. Reliance Petroleum and Cairn India. But a key
reason for the divergence of the two indices was a sharp fall in
L&T. L&T has a much higher weightage of 7.18% in Sensex compared to
the stock's 3.16% weightage in Nifty.
Outlook for Tomorrow
NIFTY witnessed a nice short covering rally today, but the short covering could not take it past the 4800 resistance levels ..
If 4800 is broken on the upside , then too am skeptical as we have further resistances at 5150-5175 levels
The two niche indices, BSE Sensex and S&P CNX Nifty, saw divergent
trend with the later posting gains helped by spurt in non-Sensex
constituents viz. Reliance Petroleum and Cairn India. But a key
reason for the divergence of the two indices was a sharp fall in
L&T. L&T has a much higher weightage of 7.18% in Sensex compared to
the stock's 3.16% weightage in Nifty.
Outlook for Tomorrow
NIFTY witnessed a nice short covering rally today, but the short covering could not take it past the 4800 resistance levels ..
If 4800 is broken on the upside , then too am skeptical as we have further resistances at 5150-5175 levels
Performace of 10th Ideas
GMR Infra @ 140-148 Closed 154.20
THOMAS COOK (INDIA) LTD @88-90 Closed 93.00
Gitanjali Gems @ 230-248 Closed 264
REL @ 1000-1150 closed 1,257.30
Buy Central Bank of India Target price : 250 in one year Closed 79.10
Nifty Future (NIFTY) Sell below 4933 with SL 4935 target 4900 / 4850 / lower -- reached 4650
ESSAR Oil- sell SL 240 minor supports at 218 incite short positions below that level it will slide to 206 and 196 below that levels it will slide to 181. reached 205
Omaxe (OMAXE) Sell below 222 SL 223 target 220.50 / 208 reached 200
RENUKA SUGAR- SL 1012 and target is 862 below that it will slide to 755. reached 825
Redington India Ltd. Sell SL 320 Target 280/260/-- Reached 280
Buy RPL @145 target 155/158/160 -- 165.40 close All targets reached
Buy Rpower@310 target 325/330/350 --335.05 close 2nd target reached
Buy RNRL@94 target 99/101/120/140 -- 107.80 close 2nd target reached
Buy RCOM@520 target 535/542/560 -- 559.45 close All targets reached
Buy Voltas@170 target 180/182/184 -- 190.20 close All targets reached
Buy IDBI@90 target 95/98/100 -- 96.15 close 2nd target reached
Buy Hindalco@190 Target 195/198/201 -- 200 high 2nd target reached
Buy Ispat@31 target 32.5/34 -- 34.70 close All targets reached
THOMAS COOK (INDIA) LTD @88-90 Closed 93.00
Gitanjali Gems @ 230-248 Closed 264
REL @ 1000-1150 closed 1,257.30
Buy Central Bank of India Target price : 250 in one year Closed 79.10
Nifty Future (NIFTY) Sell below 4933 with SL 4935 target 4900 / 4850 / lower -- reached 4650
ESSAR Oil- sell SL 240 minor supports at 218 incite short positions below that level it will slide to 206 and 196 below that levels it will slide to 181. reached 205
Omaxe (OMAXE) Sell below 222 SL 223 target 220.50 / 208 reached 200
RENUKA SUGAR- SL 1012 and target is 862 below that it will slide to 755. reached 825
Redington India Ltd. Sell SL 320 Target 280/260/-- Reached 280
Buy RPL @145 target 155/158/160 -- 165.40 close All targets reached
Buy Rpower@310 target 325/330/350 --335.05 close 2nd target reached
Buy RNRL@94 target 99/101/120/140 -- 107.80 close 2nd target reached
Buy RCOM@520 target 535/542/560 -- 559.45 close All targets reached
Buy Voltas@170 target 180/182/184 -- 190.20 close All targets reached
Buy IDBI@90 target 95/98/100 -- 96.15 close 2nd target reached
Buy Hindalco@190 Target 195/198/201 -- 200 high 2nd target reached
Buy Ispat@31 target 32.5/34 -- 34.70 close All targets reached
Monday, March 10, 2008
Buy time - Intraday calls
Market wil bounce back in the afternoon. only intraday. Book profit/loss today only.. Strict SL 2% for all
Buy RPL @145 target 155/158/160
Buy Rpower@310 target 325/330/350
Buy RNRL@94 target 99/101/120/140
Buy RCOM@520 target 535/542/560
Buy Voltas@170 target 180/182/184
Buy IDBI@90 target 95/98/100
Buy Hindalco@190 Target 195/198/201
Buy Ispat@31 target 32.5/34
Buy RPL @145 target 155/158/160
Buy Rpower@310 target 325/330/350
Buy RNRL@94 target 99/101/120/140
Buy RCOM@520 target 535/542/560
Buy Voltas@170 target 180/182/184
Buy IDBI@90 target 95/98/100
Buy Hindalco@190 Target 195/198/201
Buy Ispat@31 target 32.5/34
All calls Bang on Target
see as told market opens gapdown.. at 10AM it is down by 85.45 (1.79%)
Essar oil 1st target crossed.. short given at 218 now trading at 203.40
Omaxe reached both the targets. Sell below 222 SL 223 target 220.50 / 208
now at 202.00 went min 201.35
RENUKA SUGAR- SL 1012 and target is 862 first target reached.. now at 842.35 41
Redington India Ltd. Sell SL 320 Target 280/260/-- First target reached trading at 280, Book partial in all. Move SL to accordingly
Essar oil 1st target crossed.. short given at 218 now trading at 203.40
Omaxe reached both the targets. Sell below 222 SL 223 target 220.50 / 208
now at 202.00 went min 201.35
RENUKA SUGAR- SL 1012 and target is 862 first target reached.. now at 842.35 41
Redington India Ltd. Sell SL 320 Target 280/260/-- First target reached trading at 280, Book partial in all. Move SL to accordingly
Asian Market 07:30AM 10th March
Asian Markets open gap down
Nikkei 225 12,666.07 -116.73 -0.91%
Hang Seng 22,501.33 not open yet
Straits Times 2,816.18 -50.10 -1.75%
Even Indian Market wil open gap down
Nikkei 225 12,666.07 -116.73 -0.91%
Hang Seng 22,501.33 not open yet
Straits Times 2,816.18 -50.10 -1.75%
Even Indian Market wil open gap down
More calls - Medium Term
RCOM, SUZLON, BHARTIARTL, HINDUNILVR, INDIANB, VOLTAS,
GESHIP, NITCO, NICOLASPIR, BRFL, BHARATFORG, DIVISLAB,
JINDALSAW, BOC, MCDOWELL-N, TATATEA, DCHL, STCINDIA looking nice in this market
GMR Infra @ 140-148
THOMAS COOK (INDIA) LTD @88-90
Gitanjali Gems @ 230-248
REL @ 1000-1150
Buy Central Bank of India Target price : 250 in one year
GESHIP, NITCO, NICOLASPIR, BRFL, BHARATFORG, DIVISLAB,
JINDALSAW, BOC, MCDOWELL-N, TATATEA, DCHL, STCINDIA looking nice in this market
GMR Infra @ 140-148
THOMAS COOK (INDIA) LTD @88-90
Gitanjali Gems @ 230-248
REL @ 1000-1150
Buy Central Bank of India Target price : 250 in one year
Sunday, March 9, 2008
Market outlook for Monday 10th march and coming days
Friday's break down from support is leading the market further downside...
Expect a down word selling on Monday
weeks pics
Nifty Future (NIFTY) Sell below 4933 with SL 4935 target 4900 / 4850 / lower
ESSAR Oil- sell SL 240 minor supports at 218 incite short positions below that level it will slide to 206 and 196 below that levels it will slide to 181.
Omaxe (OMAXE) Sell below 222 SL 223 target 220.50 / 208
RENUKA SUGAR- SL 1012 and target is 862 below that it will slide to 755.
Redington India Ltd. Sell SL 320 Target 280/260/--
Expect a down word selling on Monday
weeks pics
Nifty Future (NIFTY) Sell below 4933 with SL 4935 target 4900 / 4850 / lower
ESSAR Oil- sell SL 240 minor supports at 218 incite short positions below that level it will slide to 206 and 196 below that levels it will slide to 181.
Omaxe (OMAXE) Sell below 222 SL 223 target 220.50 / 208
RENUKA SUGAR- SL 1012 and target is 862 below that it will slide to 755.
Redington India Ltd. Sell SL 320 Target 280/260/--
V-Guard Industries Limited IPO Allotment Status
V-Guard Industries Limited IPO Allotment Status
CLICK HERE TO CHECK
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IDFC to buy StanChart India MF biz
Mumbai, March 7 Infrastructure Development Finance Co Ltd (IDFC) has emerged winner for taking over Stan Chart’s mutual fund business in India.
Standard Chartered PLC has agreed to sell Standard Chartered Trustee Company Pvt Ltd and Standard Chartered Asset Management Co, which handles its mutual fund manufacturing business in India, to IDFC for a total cash consideration of $205 million (over Rs 820 crore). The consideration is before deductions for local taxes and deal expenses.
UBS pull out
IDFC will thus be paying about 70 per cent more that what UBS Global Asset Management, a leading international asset management company, had agreed to pay for the acquisition last year. UBS had struck the deal for acquiring Stan Chart’s mutual fund business in India for $120 million in January 2007.
However, the transaction, which was to be wrapped up by the second half of 2007, did not materialise, with UBS pulling out of the proposed acquisition after the sale and purchase agreement expired in December last. The deal did not get the required regulatory approvals.
Sources following the deal with IDFC say that the infrastructure finance company was not the highest bidder, but what tilted the balance in its favour was the company’s network in India and its experience in providing financial services.
Standard Chartered said in a statement that the transaction with IDFC does not include its mutual fund distribution business, which it will continue to pursue.
Wider strategy
Mr Jaspal Bindra, Chief Executive Officer, Asia, Standard Chartered, said: “IDFC is a well-respected financial services company and we are delighted to have reached an agreement with them for the sale of this business. Standard Chartered will remain a distributor of asset management products in India.”
Mr Rajiv Lall, Managing Director and Chief Executive Officer of IDFC, added: “We are pleased to acquire a quality asset management platform. This is in line with our wider strategy of broadening our footprint in the asset management business and diversifying our fee-based revenue streams.”
Mr Deepak Parekh, HDFC Chairman, clarified that he will not be in the IDFC mutual fund board.
Core businesses
IDFC’s existing businesses include project finance, principal investments, asset management (for third party funds), investment banking, institutional broking and advisory services. As on December 31, 2007, IDFC’s shareholders included the Government of India (20 per cent), foreign investors 49 per cent and public/others 31 per cent. IDFC’s market capitalisation is about $5.8 billion.
The transaction, which is subject to certain regulatory approvals, is expected to be completed in the second quarter of 2008.
Standard Chartered PLC has agreed to sell Standard Chartered Trustee Company Pvt Ltd and Standard Chartered Asset Management Co, which handles its mutual fund manufacturing business in India, to IDFC for a total cash consideration of $205 million (over Rs 820 crore). The consideration is before deductions for local taxes and deal expenses.
UBS pull out
IDFC will thus be paying about 70 per cent more that what UBS Global Asset Management, a leading international asset management company, had agreed to pay for the acquisition last year. UBS had struck the deal for acquiring Stan Chart’s mutual fund business in India for $120 million in January 2007.
However, the transaction, which was to be wrapped up by the second half of 2007, did not materialise, with UBS pulling out of the proposed acquisition after the sale and purchase agreement expired in December last. The deal did not get the required regulatory approvals.
Sources following the deal with IDFC say that the infrastructure finance company was not the highest bidder, but what tilted the balance in its favour was the company’s network in India and its experience in providing financial services.
Standard Chartered said in a statement that the transaction with IDFC does not include its mutual fund distribution business, which it will continue to pursue.
Wider strategy
Mr Jaspal Bindra, Chief Executive Officer, Asia, Standard Chartered, said: “IDFC is a well-respected financial services company and we are delighted to have reached an agreement with them for the sale of this business. Standard Chartered will remain a distributor of asset management products in India.”
Mr Rajiv Lall, Managing Director and Chief Executive Officer of IDFC, added: “We are pleased to acquire a quality asset management platform. This is in line with our wider strategy of broadening our footprint in the asset management business and diversifying our fee-based revenue streams.”
Mr Deepak Parekh, HDFC Chairman, clarified that he will not be in the IDFC mutual fund board.
Core businesses
IDFC’s existing businesses include project finance, principal investments, asset management (for third party funds), investment banking, institutional broking and advisory services. As on December 31, 2007, IDFC’s shareholders included the Government of India (20 per cent), foreign investors 49 per cent and public/others 31 per cent. IDFC’s market capitalisation is about $5.8 billion.
The transaction, which is subject to certain regulatory approvals, is expected to be completed in the second quarter of 2008.
Gammon Infrastructure Projects - New IPO Details
Gammon Infrastructure Projects
Issue details
Issue opens : March 10, 2008
Issue closes : March 13, 2008
Issue size : 1.65 crore equity shares
Reservation for employees : 16.55 lakh shares
Fresh issue to public : 1.49 crore shares
Face value : Rs10 each
Break-up of fresh issue
to public:
- QIB's portion : 89.37 lakh shares
- Retail portion : 44.69 lakh shares
- Non-institutional portion : 14.89 lakh shares
Price band : Rs167-200
Issue details
Issue opens : March 10, 2008
Issue closes : March 13, 2008
Issue size : 1.65 crore equity shares
Reservation for employees : 16.55 lakh shares
Fresh issue to public : 1.49 crore shares
Face value : Rs10 each
Break-up of fresh issue
to public:
- QIB's portion : 89.37 lakh shares
- Retail portion : 44.69 lakh shares
- Non-institutional portion : 14.89 lakh shares
Price band : Rs167-200
US Stocks Tumble Following Jobs Report - Further Bad news for indian Markets
Wall Street ended a dreadful week with another big loss Friday after the government surprised investors with a report that employers eliminated 63,000 jobs last month. The news compounded fears that the U.S. economy, already hampered by an unrelenting credit crisis, is succumbing to recession.
US Markets End in RED
Dow 11,893.69 -146.70 -1.22%
Nasdaq 2,212.49 -8.01 -0.36%
S&P 500 1,293.37 -10.97 -0.84%
Europe Markets Too ended in RED
FTSE 100 5,699.90 -66.50 -1.15%
DAX 6,513.99 -77.32 -1.17%
CAC 40 4,618.96 -59.09 -1.26%
US Markets End in RED
Dow 11,893.69 -146.70 -1.22%
Nasdaq 2,212.49 -8.01 -0.36%
S&P 500 1,293.37 -10.97 -0.84%
Europe Markets Too ended in RED
FTSE 100 5,699.90 -66.50 -1.15%
DAX 6,513.99 -77.32 -1.17%
CAC 40 4,618.96 -59.09 -1.26%
Saturday, March 8, 2008
Indian Market outlook
We had a very crucial support at 4800. Now after breaking it yesterday we headed towards more south side. We suspect it to make more lows now. Immediate next support will be 4450 which it made in the Jan 2008
Friday’s Market
A surge in inflation, weak global cues and political concerns dampened the investor sentiments today as share prices declined sharply. All the sectorial indices on BSE were in the red. Reliance Energy was the biggest loser from the Sensex pack. Banking stocks tumbled. European markets, which opened after Indian market, were weak. The 30-share BSE Sensex plunged 566.56 points or 3.42% at
15,975.52, its lowest closing since 18 September 2007. The index had shaved off 852.16 points at the session's low of 15,689.92, hit in afternoon trade.The broader CNX S&P Nifty was down 149.80 points or 3.04% at 4771.60.
Tuesday, March 4, 2008
World Market Watch
World Market Watch @8:20 on 4th March 2008
Exchange Last Change
Dow * 12258.90 -7.48
Nasdaq 2258.60 -12.88
S & P 500 1331.34 0.71
MerVal 2136.79 -25.41
Bovespa 64490.39 1001.09
TSX 13544.38 -38.31
IPC 29526.69 608.18
AEX 441.48 -5.05
FTSE 100 5818.60 -65.70
DAX 6689.95 -58.18
CAC 40 4742.66 -48
Nikkei 13086.66 94.48
Hang Seng 23737.91 152.94
Shanghai 4431.74 -6.52
Straits 2931.89 5.34
Jakarta 2660.90 8.59
NZX 50 3554.36 -29.89
TSEC 8417.75 154.88
Sensex 16677.88 0
Nifty 4953 0
Exchange Last Change
Dow * 12258.90 -7.48
Nasdaq 2258.60 -12.88
S & P 500 1331.34 0.71
MerVal 2136.79 -25.41
Bovespa 64490.39 1001.09
TSX 13544.38 -38.31
IPC 29526.69 608.18
AEX 441.48 -5.05
FTSE 100 5818.60 -65.70
DAX 6689.95 -58.18
CAC 40 4742.66 -48
Nikkei 13086.66 94.48
Hang Seng 23737.91 152.94
Shanghai 4431.74 -6.52
Straits 2931.89 5.34
Jakarta 2660.90 8.59
NZX 50 3554.36 -29.89
TSEC 8417.75 154.88
Sensex 16677.88 0
Nifty 4953 0
Nifty View
Nifty has supports at 4910/4868/4840/4773/4640 and resistances at 4980/5032/5154/5176/5210. Market will open +ve... Dont keep much open positions. Keep Booking profits
Cals for today
Sell IT stocks like infy. Market might be range bound will find support at 4800. In the Lows u can buy GTL for a target of 422+
Global outlook@8:00AM
Us Market ends flat after the volatile trade
Dow 12,258.90 -7.49 -0.06%
Nasdaq 2,258.60 -12.88 -0.57%
S&P 500 1,331.34 +0.71 +0.05%
Asain Market also volatile but trading in +ve
Nikkei 225 13,086.66 +94.48 +0.73%
Hang Seng 23,713.01 +128.04 +0.54%
Straits Times 2,931.95 +5.40 +0.18%
Dow 12,258.90 -7.49 -0.06%
Nasdaq 2,258.60 -12.88 -0.57%
S&P 500 1,331.34 +0.71 +0.05%
Asain Market also volatile but trading in +ve
Nikkei 225 13,086.66 +94.48 +0.73%
Hang Seng 23,713.01 +128.04 +0.54%
Straits Times 2,931.95 +5.40 +0.18%
Us markets Gain from lows
Some good news.. Market recovers from the lows
Dow 12,241.56 -24.83 -0.20%
Nasdaq 2,264.69 -6.79 -0.30%
S&P 500 1,330.89 +0.26 +0.02%
If US markets closes in green then we may see some consolidation and then a upside tomorrow, else one more crash might be there..
Dow 12,241.56 -24.83 -0.20%
Nasdaq 2,264.69 -6.79 -0.30%
S&P 500 1,330.89 +0.26 +0.02%
If US markets closes in green then we may see some consolidation and then a upside tomorrow, else one more crash might be there..
Sensex Crashes 901 points
The BSE Sensex tumbled 900.84 points or 5.12% to 16,677.88registering its second biggest single day point loss on a closingbasis. It was also Sensex's second biggest single day fall inpercentage terms. BSE Sensex's fall of 1,408.35 points or 7.41% to17,605.35 on 21 January 2008 is its biggest ever fall in record
The BSE Mid-Cap index was down 4.11% at 7,364.85, while the BSESmall-Cap was down 4.05% at 9,238.35. Both these indicesoutperformed the Sensex.
The market breadth was poor: on BSE, 396 advanced as compared to2330 that declined. 40 stocks remained unchanged.
BSE clocked a turnover of Rs 5090 crore as against Rs 6,721.65crore on Friday, 29 February 2008.
Nifty March 2008 futures were at 4882, a discount of 71 points ascompared to spot closing of 4953.
India's largest private sector firm by market capitalization andoil refiner Reliance Industries (RIL) fell 6.24% to Rs 2304.75.
The BSE Bankex fell 6.72% to 9,434.44. It underperformed theSensex. ICICI Bank (down 6.10% at Rs 1,024.45), State Bank of India(down 8.83% at Rs 1,923.40), Punjab National Bank (down 9.65% at Rs545.85), Kotak Mahindra Bank (down 9.07% at 728.70), Bank of India(8.48% at Rs 329.05) and Axis Bank (down 7.70% at Rs 940.30),declined.
The BSE Power index fell 6.35% to 3,437.75. It underperformed theSensex. Suzlon Energy (down 10.40% at Rs 252.05), Tata Power (down6.78% at Rs 1,306.05), CESC (down 6.17% at Rs 500.55), RelianceEnergy (down 5.24% at Rs 1,485.55), Torrent Power (down 5.17% at Rs140.35) and Reliance Power (down 4.32% at Rs 412), slipped.
The BSE Realty index fell 6.39% to 8,953.95. It underperformed theSensex. DLF (down 8.44% at Rs 714.70), Parsvnath Developers (down6.27% at Rs 251.85), Ansal Properties & Infrastructure (down 6.22%at Rs 202), Housing Development & Infrastructure (down 5.97% at Rs805.20), Mahindra Lifespace Developers (down 5.92% at Rs 536.70),Indiabulls Real Estate (down 5.78% at Rs 596.25) and Unitech (down5.50% at Rs 339.50), skid.
Auto stocks, which bucked the weak sentiments in early trades, soondipped into red in the later half of trading session. The BSE Autoindex fell 0.80% to 4,848.05. It outperformed the Sensex. Escorts(down 2.63% at Rs 103.55), TVS Motor (down 2.40% at Rs 42.65),Ashok Leyland (down 1.74% at Rs 36.80), Mahindra & Mahindra (down1.23% at Rs 684.25), Bajaj Auto (down 1.08% at Rs 2,255.50) andTata Motors (down 1.01% at Rs 693.15), dipped.
However, Hero Honda Motors (up 1.26% at Rs 774.10) and MarutiSuzuki (up 0.82% at Rs 874.30), rose. The auto stocks were indemand as cut in excise duties in the Union Budget raisedexpectation of pick up in sales in coming months.
Among the side counters, India Infoline (down 10.81% at Rs 996.25),Indiabulls Financial Services (down 10.78% at Rs 548.80), RelianceCapital (down 10.29% at Rs 1,631.10), Adlabs Films (down 9.66% atRs 757.90) and Steel Authority of India (down 9.65% at Rs 230.80),declined.
Essar Oil clocked the highest turnover of Rs 257.71 crore on BSE.Reliance Petroleum (Rs 237.78 crore), Onmobile Global (Rs 234.85crore), Reliance Industries (Rs 230.46 crore) and Reliance Capital(Rs 208.06 crore), were the other turnover toppers on BSE in thatorder.
Reliance Petroleum recorded the highest volume of 1.41 crore shareson BSE. Reliance Natural Resources (1.21 crore shares), IFCI (1.09crore shares), Essar Oil (1.01 crroe shares) and NagarjunaFertilisers and Chemicals (99.69 lakh shares), were the othervolume toppers on BSE in that order.
The key benchmark indices witnessed an unabated selling pressureacross sectors, mirroring weakness in the global stock markets. 26out of 30 stocks from the Sensex pack were in the red. Even themid-and small-cap stocks tumbled, as reflected in the poor marketbreadth.
The BSE Mid-Cap index was down 4.11% at 7,364.85, while the BSESmall-Cap was down 4.05% at 9,238.35. Both these indicesoutperformed the Sensex.
The market breadth was poor: on BSE, 396 advanced as compared to2330 that declined. 40 stocks remained unchanged.
BSE clocked a turnover of Rs 5090 crore as against Rs 6,721.65crore on Friday, 29 February 2008.
Nifty March 2008 futures were at 4882, a discount of 71 points ascompared to spot closing of 4953.
India's largest private sector firm by market capitalization andoil refiner Reliance Industries (RIL) fell 6.24% to Rs 2304.75.
The BSE Bankex fell 6.72% to 9,434.44. It underperformed theSensex. ICICI Bank (down 6.10% at Rs 1,024.45), State Bank of India(down 8.83% at Rs 1,923.40), Punjab National Bank (down 9.65% at Rs545.85), Kotak Mahindra Bank (down 9.07% at 728.70), Bank of India(8.48% at Rs 329.05) and Axis Bank (down 7.70% at Rs 940.30),declined.
The BSE Power index fell 6.35% to 3,437.75. It underperformed theSensex. Suzlon Energy (down 10.40% at Rs 252.05), Tata Power (down6.78% at Rs 1,306.05), CESC (down 6.17% at Rs 500.55), RelianceEnergy (down 5.24% at Rs 1,485.55), Torrent Power (down 5.17% at Rs140.35) and Reliance Power (down 4.32% at Rs 412), slipped.
The BSE Realty index fell 6.39% to 8,953.95. It underperformed theSensex. DLF (down 8.44% at Rs 714.70), Parsvnath Developers (down6.27% at Rs 251.85), Ansal Properties & Infrastructure (down 6.22%at Rs 202), Housing Development & Infrastructure (down 5.97% at Rs805.20), Mahindra Lifespace Developers (down 5.92% at Rs 536.70),Indiabulls Real Estate (down 5.78% at Rs 596.25) and Unitech (down5.50% at Rs 339.50), skid.
Auto stocks, which bucked the weak sentiments in early trades, soondipped into red in the later half of trading session. The BSE Autoindex fell 0.80% to 4,848.05. It outperformed the Sensex. Escorts(down 2.63% at Rs 103.55), TVS Motor (down 2.40% at Rs 42.65),Ashok Leyland (down 1.74% at Rs 36.80), Mahindra & Mahindra (down1.23% at Rs 684.25), Bajaj Auto (down 1.08% at Rs 2,255.50) andTata Motors (down 1.01% at Rs 693.15), dipped.
However, Hero Honda Motors (up 1.26% at Rs 774.10) and MarutiSuzuki (up 0.82% at Rs 874.30), rose. The auto stocks were indemand as cut in excise duties in the Union Budget raisedexpectation of pick up in sales in coming months.
Among the side counters, India Infoline (down 10.81% at Rs 996.25),Indiabulls Financial Services (down 10.78% at Rs 548.80), RelianceCapital (down 10.29% at Rs 1,631.10), Adlabs Films (down 9.66% atRs 757.90) and Steel Authority of India (down 9.65% at Rs 230.80),declined.
Essar Oil clocked the highest turnover of Rs 257.71 crore on BSE.Reliance Petroleum (Rs 237.78 crore), Onmobile Global (Rs 234.85crore), Reliance Industries (Rs 230.46 crore) and Reliance Capital(Rs 208.06 crore), were the other turnover toppers on BSE in thatorder.
Reliance Petroleum recorded the highest volume of 1.41 crore shareson BSE. Reliance Natural Resources (1.21 crore shares), IFCI (1.09crore shares), Essar Oil (1.01 crroe shares) and NagarjunaFertilisers and Chemicals (99.69 lakh shares), were the othervolume toppers on BSE in that order.
The key benchmark indices witnessed an unabated selling pressureacross sectors, mirroring weakness in the global stock markets. 26out of 30 stocks from the Sensex pack were in the red. Even themid-and small-cap stocks tumbled, as reflected in the poor marketbreadth.
US & Europe Markets are in RED
More -ve news.. US Markets open in Red
Dow 12,219.25 -47.14 -0.38%
Nasdaq 2,266.87 -4.61 -0.20%
S&P 500 1,326.68 -3.95 -0.30%
Europe market trading in red
FTSE 100 5,826.00 -58.30 -0.99%
DAX 6,658.33 -89.80 -1.33%
CAC 40 4,722.10 -68.56 -1.43%
Monday, March 3, 2008
Sun Outage - Change in market timings
The Exchange has decided to change the market timings for both cash and derivatives markets during the period, March 04, 2008 to March 18, 2008 due to Sun Outage.
The revised timings will be -
Market Open : 09.55 a.m.
Market will remain close : 11.45 a.m. to 12.25 p.m.
Market re-open : 12.30 p.m.
Market Close : 04.15 p.m.
Market Post Close : 04.35 p.m. to 04.45 p.m.
The revised timings will be -
Market Open : 09.55 a.m.
Market will remain close : 11.45 a.m. to 12.25 p.m.
Market re-open : 12.30 p.m.
Market Close : 04.15 p.m.
Market Post Close : 04.35 p.m. to 04.45 p.m.
Stocks to watch out..
Short March nifty as it opens.. It will open atlease 100+ points to 200 points
Short IT bags like Infosys, Wipro. Infy target 1500--,
Short Capital market and Reality shares like Relience Capital, India bulls
All short with strict SL
Short IT bags like Infosys, Wipro. Infy target 1500--,
Short Capital market and Reality shares like Relience Capital, India bulls
All short with strict SL
Markets to open deep in RED
Both NSE and BSE to open in atleast 2% down. Mainly Auto, It wil get hit. todays strategy is Short at opening.. Market might recover a bit in late trade..
Asian Market update:
After US market to correct more than 2% now its Asian markets term to slip the Radar. All indices are down more than 3%
Nikkei 225
13,062.92 -540.10 -3.97%
Straits Times
2,935.34 -91.11 -3.01%
Hang Seng not yet open.. It wil also open gap down..
Asian Market update:
After US market to correct more than 2% now its Asian markets term to slip the Radar. All indices are down more than 3%
Nikkei 225
13,062.92 -540.10 -3.97%
Straits Times
2,935.34 -91.11 -3.01%
Hang Seng not yet open.. It wil also open gap down..
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