1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Thursday, September 15, 2011
Domestic Markets Snapshot Views on markets today
Name of Index Sept 13 Sept 14 Change (%) • Indian markets snapped three day losing streak and
Sensex 16,467.44 16,709.60 1.47% closed on positive note yesterday led by export-driven
CNX Nifty 4,940.95 5,012.55 1.45% technology stocks on hopes a weaker rupee would
BSE Mid-cap 6,319.25 6,332.34 0.21% boost margins and gains in European shares triggered
BSE IT 4,833.13 5,039.74 4.27% by hopes of some moves from European leaders
BSE Banks 10,708.39 10,864.69 1.46% towards easing the euro-zone sovereign debt crisis.
Head of the European Commission had said that it
FII Activity (`Cr) would soon present options for the introduction of
Date Buy Sell Net euro area bonds. However, investors has overlooked
13-Sep 1286 1656 -370 inflation data for the month of August, which climbed
12-Sep 1645 2424 -779 to its highest in more than a year as prices of food and
Total Sept 22090 21096 994 manufactured goods surged, reinforcing the case for
2011 YTD 454796 454601 186
another rate hike despite weakening growth and a
worsening global outlook. Except capital goods, all
MF Activity (`Cr) sectoral indices closed on positive note with IT, metal,
Date Buy Sell Net banks and oil & gas stocks were major gainers. Infosys
13-Sep 365 427 -62 led the gains in index stock and ended 5.8% higher, its
12-Sep 344 438 -94 highest closing level in nearly four weeks, after the
Total Sept 3514 4461 -947 rupee hit a near-two-year low of 48.02 per dollar. As
Indian software services companies get more than half
2011 YTD 96688 91633 5327
their revenue from the United States and a weaker
Volume & Advances / Declines rupees helps their profit margins. Reliance Capital also
NSE BSE gained nearly 4% as the company has received
Trading Volume (`Cr) 10,842 2,623 regulatory approval to sell 26% in its insurance
Advances 825 1,528 business to Japan's Nippon Life Insurance.
Declines 619 1,268 • Market breadth was strong at ~1.21x as investors
Unchanged 78 116 bought large cap stocks. Both FIIs and domestic
Total 1,522 2,912 institutions sold equities worth `45.82Cr and
`182.68Cr, respectively.
Global Markets
• Asian markets are higher today tracking US markets
Index Latest Values Change (%)
overnight and reacting to the news that Greece
DJIA 11,246.73 1.3%
concerns are eased.
NASDAQ 2,572.55 1.6%
Nikkei * 8,660.93 1.7% • We expect a positive opening for the Indian markets
Hang Seng * 19,226.74 1.0% taking the cues from Asian markets. However, weekly
inflation will fuel some volatility.
* as of 8.45AM IST
Currencies / Commodities Snapshot Key events today
Latest Previous • Announcement of food and fuel price inflation data
Quote Close
Indian Rupee per $ 47.70 47.65
Economic and Corporate Developments
Indian Rupee per € 65.24 65.24 • The annual rate of inflation, based on monthly WPI,
NYMEX Crude Oil($/bbl) 88.68 88.91 stood at 9.78% (Provisional) for the month of August,
Gold ($/oz) 1,814.00 1,823.50 2011 (over August, 2010) as compared to 9.22%
Silver ($/oz) 40.56 40.47
(Provisional) for the previous month and 8.87% during
the corresponding month of the previous year.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • The oil ministry will shortly consider Reliance
Previous Current Change Industries' $1.52bn plan to develop satellite fields in
Company Name
Close (`) Price (`) (%) its KG-D6 block, which may deliver about 10 million
JPINFRATEC 41.15 46.15 12.15 metric standard cubic metres a day of natural gas in
Jaiprakash Asso 64.20 68.30 6.39 five years, government officials said.
Educomp Sol 215.70 228.55 5.96
• Oil explorer Cairn India said that it has received
Infosys 2224.40 2353.05 5.78
approval from a majority of its shareholders to
JSW Steel 650.30 683.40 5.09
accept conditions imposed by India to clear Vedanta
(BSE Mid-Cap) Resources' deal to buy 40% stake in the company.
Previous Current Change • BHEL has bagged an order worth `2500-3000Cr from
Company Name
Close(`) Price(`) (%) Singareni Collieries.
Hindusthan Nat- 190.50 205.10 7.66
$ • Ambuja Cements acquired a 60% equity stake in fly
A2Z Maintenanc 211.60 227.70 7.61
ash manufacturer Dirk India for `16.51Cr ($3.5mn).
Deccan Chron 54.30 58.25 7.27
Madras Cements 97.20 103.80 6.79 • National Aluminium Company has placed order to
Hexaware Tech 71.75 76.45 6.55 import two lakh tonnes of coal to tide over the short
supply of coal due to heavy rain and floods in Orissa.
TOP LOSERS The imported coal would start arriving after a week.
(BSE A-Group) • Tata Steel will cut about 1,000 jobs over the next
four years at Ijmuiden plant in the Netherlands as
Previous Current Change
Company Name part of cost cutting measures.
Close(`) Price(`) (%)
Pantaloon Retl 278.30 256.85 -7.71 US markets
Opto Circuits 247.85 240.30 -3.05 US markets extended gains for third consecutive
Jet Air India 278.15 270.85 -2.62 session after German Chancellor Angela Merkel and
Container Corp 925.45 902.60 -2.47 French President Nicolas Sarkozy reaffirmed their
Shipping Corp 87.00 85.05 -2.24 support for Greece, giving some relief to market
(BSE Mid-Cap) participants about an impending euro-zone default.
Previous Current Change The Dow Jones Industrial Average ended up 140.88
Company Name
Close(`) Price(`) (%) points, or 1.3%, at 11,246.73.
GTL 68.75 61.55 -10.47
The French and German leaders said they were
Pantaloon Retl 278.30 256.85 -7.71 confident Greece will remain in the euro zone. The
KGN Inds 25.25 24.00 -4.95 leaders also reaffirmed support for a late July plan
GTL Infra 13.66 13.16 -3.66 that’s designed to prevent a Lehman Bros.-style
Opto Circuits 247.85 240.30 -3.05 financial panic.
The Standard & Poor’s 500 Index ended up 15.81
points, or 1.4%, at 1,188.68. A rally in industrial
stocks led gains for all 10 S&P 500 industry sectors.
The Nasdaq Composite Index rose 40.40 points, or
1.6%, to 2,572.55.
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