1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Tuesday, July 11, 2011
Domestic Markets Snapshot Views on markets today
Name of Index July 7 July 8 Change (%) • Indian markets ended in the negative note on Friday,
Sensex 19,078.30 18,858.04 -1.15% paring more than half of the gains of last session, as
CNX Nifty 5,728.95 5,660.65 -1.19% profit booking pull the markets lower after a stellar
rally in last session. Mining and metal stocks tumbled
BSE Mid-cap 7,039.52 6,996.31 -0.61%
on reports a panel of ministers has approved the draft
BSE IT 6,258.16 6,199.18 -0.94%
Mining Bill, which calls for miners to give to local
BSE Banks 13,056.80 12,920.40 -1.04% communities an amount equivalent to royalties so as
FII Activity (`Cr) to compensate people displaced by such projects. Coal
India, the world's largest coal miner, plunged 8%, after
Date Buy Sell Net
a government source said a panel of ministers had
7-Jul 2849 2099 750
approved a new bill calling for coal miners to share up
6-Jul 2116 1835 281 to 26% of their profits with local communities. The
Total July 18469 12715 8435 market is expected to take cues from the quarterly
2011 YTD 345218 338142 7076 results for direction next week. According to experts
the earnings are likely to be lackluster due to
MF Activity (`Cr)
prevailing high interest rates, commodity prices and
Date Buy Sell Net slower growth. Except real estate, all sectoral indices
7-Jul 784 611 173 closed lower with metal, FMCG, oil & gas and banks
6-Jul 440 345 95 stocks were major losers. Reliance Industries fell 1.8%
after Morgan Stanley downgraded the company to
Total July 2754 2501 1454
"equal weight" from "overweight" and slashed its price
2011 YTD 70774 67668 3756
target to `956 from `1,206. Dhanalaxmi Bank fell 5%,
Volume & Advances / Declines after the bank called off a plan to raise `2.9bn by
selling a 19.6% stake.
NSE BSE
Trading Volume (`Cr) 12,269 3,214 • Market breadth was weak at ~0.64x as investors sold
Advances 457 1,127 large cap stocks. FIIs bought equities worth `5.17bn
while domestic institutions sold equities of `3.89bn.
Declines 982 1,757
Unchanged 70 121 • Asia markets declined after a dismal US jobs report
Total 1,509 3,005 and high levels of Chinese inflation. Both the Nikkei
and the Hang Seng are down today.
Global Markets
• We expect a weak opening for the Indian markets as
Index Latest Values Change (%) the investors may book profits ahead of Infosys'
DJIA 12,657.20 -0.5% results tomorrow and on account of weak global cues.
NASDAQ 2,859.81 -0.4%
Key events today
Nikkei * 10,089.56 -0.5%
• Opening of the IPO of Bharatiya Global Infomedia Ltd.
Hang Seng * 22,512.26 -0.9%
(price band `75-82 per share), closes July 14.
* as of 8.45AM IST
Economic and Corporate Developments
Currencies / Commodities Snapshot
• An Empowered Group of Ministers (EGoM) on food is
Latest Previous
Quote Close scheduled to meet today to consider a proposal to
Indian Rupee per $ 44.29 44.33
export 3mn tonne of wheat and rice to ease foodgrain
storage problems.
Indian Rupee per € 62.89 63.20
NYMEX Crude Oil($/bbl) 95.95 96.20 • Prime Minister Manmohan Singh will hold a meeting to
resolve inter-ministerial differences relating to
Gold ($/oz) 1,544.60 1,541.60
environment clearances for coal and power projects
Silver ($/oz) 36.49 36.71
after the Group of Ministers meet on July 14.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group)
• As per the management, the structure of executive
Previous Current Change management is set at Infosys, will see results in 12-
Company Name
Close (`) Price (`) (%)
18 months.
SKS Microfinance 411.00 493.20 20.00
D B REALTY 76.50 85.60 11.90 • Compact Disc plans to delist from the exchanges
Unitech 35.00 36.55 4.43 soon at `75/share to settle dispute with HSBC.
Videocon Inds 193.80 200.10 3.25 • GSPL gets letters of authorisation from PNGRB for
Marico 161.05 166.00 3.07 developing 3 pipelines with investment of `12500Cr.
(BSE Mid-Cap) • Elder Pharma severs ties with Singapore based Haw
Previous Current Change Par Healthcare, will stop marketing of Tiger Balm in
Company Name
Close(`) Price(`) (%) India.
SKS Microfinance 411.00 493.20 20.00
• Nalco to hive out its non aluminium business into
D B REALTY 76.50 85.60 11.90
separate business.
JSL 97.35 104.90 7.76
• NTPC has signed `10,000Cr loan agreement with SBI
Peninsula Land 52.50 54.65 4.10
the largest extended amount to any Indian or foreign
Himadri Chem 43.40 45.00 3.69
corporate for financing its new projects.
TOP LOSERS • McNally Bharat Engineering has received `27.99Cr
(BSE A-Group) order from Hindalco Industries for construction of
civil foundation and structural steel work of pipe rack
Previous Current Change
Company Name for 6X 150 MW captive power plant at Bargawan,
Close(`) Price(`) (%)
Coal India 394.25 362.00 -8.18 Madhya Pradesh.
TATAGLOBAL 104.80 100.00 -4.58 • Bajaj Auto gearing up to add another model, Boxer
Hindustan Zinc 136.85 131.05 -4.24 150 cc by August 2011 targeting the rural market to
Sesa Goa 294.10 281.85 -4.17 furnish their demand.
Sterlite Inds 170.10 163.40 -3.94 US markets
(BSE Mid-Cap) US markets declined on Friday as a weak jobs report
Company Name
Previous Current Change dashed optimism that the economy was emerging
Close(`) Price(`) (%) from a soft patch, making investors cautious ahead
Orchid Chem 272.20 248.55 -8.69 of the quarterly results. The sell-off was broad and
KGN Inds 59.95 57.00 -4.92 halted an eight-day streak for the Nasdaq, though
SPICEMOBIL-$ 115.50 109.90 -4.85 stocks ended off their lows. U.S. employers added
TATAGLOBAL 104.80 100.00 -4.58 only 18,000 workers in June, short of even the lowest
ING Vysya Bank 342.90 328.05 -4.33 forecast. The Dow Jones industrial average slipped
62.29 points, or 0.49%, to 12,657.20 at the close.
The Standard & Poor's 500 Index shed 9.42 points,
or 0.70%, to 1,343.80. The Nasdaq Composite Index
dropped 12.85 points, or 0.45%, to 2,859.81.
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