1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Tuesday, December 20, 2011
Domestic Markets Snapshot Views on markets today
Name of Index Dec 16 Dec 19 Change (%) • Indian markets fell 0.72% yesterday to their lowest
Sensex 15,491.35 15,379.34 -0.72% close since August 2009 as worries over slowing
domestic economy weighed on the positive European
CNX Nifty 4,651.60 4,613.10 -0.83%
markets ahead of the conference call of the Eurozone
BSE Mid-cap 5,277.27 5,172.10 -1.99%
finance ministers. Eurozone finance ministers were
BSE IT 5,712.42 5,657.79 -0.96% going to discuss €200bn in additional funding through
BSE Banks 9,420.85 9,130.56 -3.08% the IMF and the mechanics of a so-called fiscal
FII Activity (`Cr) compact that was negotiated at European Union
summit held on 9th Dec. The impending food security
Date Buy Sell Net bill is likely to widen the fiscal deficit and the country's
16-Dec 2,270 2,420 -150 GDP growth will further decrease also hurt the investor
15-Dec 3,001 3,227 -226 sentiments. The downward movement was mainly led
Total Dec 24,034 23,462 571 by selling pressure in capital goods, bank, real estate
2011 YTD 592,478 594,851 -2373 and power stocks while oil & gas, FMCG and auto
stocks witnessed some buying activities which help
MF Activity (`Cr) the markets to recover from day low. Banking stocks
Date Buy Sell Net were the top losers, with many banks hit more than
16-Dec 450 364 86 two-year lows due to lower-than-expected advance tax
payments. The cabinet's approval for food security bill
15-Dec 369 480 -111
to over 63% of population helped the FMCG stocks to
Total Dec 4947 5213 -267
gain.
2011 YTD 127,172 121,992 5180
• Market breadth was week at ~0.35x as investors sold
Volume & Advances / Declines large cap stocks. FIIs sold equities worth `4.5bn while
NSE BSE domestic institutions bought equities of `0.19bn.
Trading Volume (`Cr) 9,869 1,844 • Asian stocks mostly turned higher after a weak
Advances 265 726 opening, as investors recovered their losses made in
previous sessions.
Declines 1,229 2,066
Unchanged 43 91 • We expect Indian markets to open positive today,
following the Asian shares as investors may try to
Total 1,537 2,883
cover their losses. However, worsening domestic
Global Markets growth story and tight liquidity would resist the
Index Latest Values Change (%) markets on the higher levels.
DJIA 11,766.26 -0.8% Economic and Corporate Developments
NASDAQ 2,523.14 -1.3% • The Indian IT market is expected to grow at a lower
Nikkei * 8,350.12 0.7% rate of 13.4% to touch a size of about `1,30,376Cr in
Hang Seng * 18,174.48 0.6% 2012 compared to that in the last year, a report by IT
consultancy company Coeus Age said. The domestic IT
* as of 8.25AM IST
market had grown by approximately 14.5% in 2011
Currencies / Commodities Snapshot having a size of close to `1,15,000Cr, the report said.
Latest Previous • The government has asked cash-rich PSUs to issue
Quote Close
bonus shares to bring about a proper balance between
Indian Rupee per $ 52.89 52.89
paid-up capital and accumulated reserves, a move
Indian Rupee per € 68.75 68.74 aimed at improving market image of state-run firms.
NYMEX Crude Oil($/bbl) 94.29 93.88
• Finance Minister Pranab Mukherjee will review the
Gold ($/oz) 1,599.70 1,594.40 status of eight large projects, including those in the
Silver ($/oz) 28.84 28.82 power sector, which are getting delayed due to
regulatory clearances.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • A consortium of Indian banks has sanctioned Orchid
Previous Current Change Pharmaceuticals $100mn (around `531.5Cr) by way
Company Name of external commercial borrowings (ECBs). This
Close (`) Price (`) (%)
Redington India 73.50 77.95 6.05 amount will help the company to redeem its
Shree Renu Sug 23.95 25.25 5.43 outstanding foreign currency convertible bonds
Tata Motors 172.25 179.90 4.44 (FCCBs) pegged at $117mn (around `621.9Cr) ahead
Cairn India 297.50 309.90 4.17 of their due in February 2012.
Lanco Infra 8.83 9.19 4.08 • Coromandel ups stake in Sabero Organics to 67.75%
from 36.75% after completion of the open offer.
(BSE Mid-Cap)
• United Breweries would make substantial
Previous Current Change
Company Name investments to develop Dutch beer brand Heineken
Close(`) Price(`) (%)
Redington India 73.50 77.95 6.05 in the country.
Monnet Ispat 342.40 363.00 6.02 • Muthoot Finance announced plans to raise up to
Shree Renu Sug 23.95 25.25 5.43 `600Cr debt from public through a debenture issue,
FDC 79.90 84.00 5.13 which will open for subscription on Thursday.
Lanco Infra 8.83 9.19 4.08 • Fortis Healthcare (India) is on course to raise funds
and close a takeover of Singapore-based associate
TOP LOSERS Fortis Healthcare International by the end of
(BSE A-Group) December.
Previous Current Change • Mahindra & Mahindra will showcase its Korean
Company Name subsidiary Ssangyong's vehicles for the first time in
Close(`) Price(`) (%)
Bata India 568.15 504.60 -11.19 India during the upcoming Auto Expo next month,
Wockhardt 335.25 301.85 -9.96 following the acquisition of the firm over a year ago.
Allahabad Bank 141.70 131.40 -7.27 • HCL Technologies selected as a strategic partner to
Biocon 261.25 243.45 -6.81 provide infrastructure outsourcing services to bio-
Jain Irrigation 91.70 85.55 -6.71 pharmaceutical firm AstraZeneca.
(BSE Mid-Cap) US markets
U.S. stocks closed about 1% lower Monday, deepening
Previous Current Change
Company Name losses as separate comments from the head of the
Close(`) Price(`) (%)
Bata India 568.15 504.60 -11.19 European Central Bank and the region’s finance
Anant Raj Inds 44.75 39.95 -10.73 ministers disappointed the investors.
KSK Energy 39.05 35.15 -9.99 The Dow Jones Industrial Average ended down 100.13
Wockhardt 335.25 301.85 -9.96 points, or 0.8%, at 11,766.26. The S&P 500 fell 14.31
Prestige Estates 67.85 61.10 -9.95 points, or 1.2%, at 1,205.35. The Nasdaq Composite
Index dropped 32.19 points, or 1.3%, to 2,523.14.
Keynote Capitals Institutional Research (research@keynoteindia.net) (+9122-30266000)

3. K E Y N O T E
INSTIT UT IONAL R ES EAR C H
India and Global Economic Calendar
Countries / Tuesday Wednesday Thursday Friday
Regions Dec. 20 Dec. 21 Dec. 22 Dec. 23
India Weekly Inflation Forex Reserves Data
Data
Weekly Supplement
of RBI
US Housing Starts Existing Home sales Gross domestic Core Personal
Data purchases price Consumption
index Expenditure - Prices
Index
Building Permits Gross domestic Durable Goods
product annualized Order ex
Transportation
Initial jobless claims Personal
Consumption
Expenditure
Reuters/Michigan Personal Income
consumer sentiment
index
New Home Loans
Global Germany Gfk Japan Interest Rate UK GDP data UK Index of Service
Consumer decision
Confidence Survey
Germany IFO - UK BBA Mortgage
Business Climate Approvals
Canada GDP
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