1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Wednesday, December 7, 2011
Domestic Markets Snapshot Views on markets today
Name of Index Dec 2 Dec 5 Change (%) • Indian markets closed moderately lower amid a
Sensex 16,846.83 16,805.33 -0.25% choppy session yesterday, as the profit booking takes
CNX Nifty 5,050.15 5,039.15 -0.22% place on growing doubts over the government's ability
BSE Mid-cap 5,763.40 5,760.54 -0.05% to usher in retail-sector reforms amid tough political
BSE IT 5,726.93 5,727.11 0.00% opposition. Renewed optimism in the European
BSE Banks 10,550.45 10,552.04 0.02% markets also couldn't help the index to recover and it
hardly could stay in a positive territory. The markets
FII Activity (`Cr) opened weak amid mixed cues from the Asian
Date Buy Sell Net markets, as Chinese shares dropped after its Services
2-Dec 2,574 1,862 712 PMI dipped and Japanese and Australian markets were
1-Dec 2,436 1,531 905 up on account of weak yen and mining story
Total Dec 5,010 3,393 1617 respectively. Retail stocks fell after the ruling
Congress party put on holds plans to open up the
2011 YTD 573,454 574,782 -1328
country's $450bn retail sector to foreign
MF Activity (`Cr) supermarkets. The downward movement was mainly
Date Buy Sell Net led by selling pressure in metal, consumer durables,
2-Dec 548 386 163 FMCG and real estate stocks while power, capital
1-Dec 551 794 -243
goods and auto stocks witnessed some buying
activities which gave some support to the markets.
Total Dec 1099 1179 -80
Metal stocks led the losses for the Sensex, as investors
2011 YTD 123,324 117,958 5367
booked profits in the stocks. Tata Steel was the top
Volume & Advances / Declines loser and lost 1.7%. Sterlite Industries and Coal India
NSE BSE
declined 1.5% and 0.6%, respectively. Man Industries
jumped as much as 6.8%, after the steel pipes-maker
Trading Volume (`Cr) 8,149 1,823
said it won export orders worth `5.15bn for supply of
Advances 690 1,353
large-diametre pipes for the oil and gas sector. Ashok
Declines 739 1,337
Leyland also closed 5.8% up, after the company said
Unchanged 88 152 on Saturday its November vehicle sales jumped 53%.
Total 1,517 2,842
• Market breadth was however flat at ~1.01x as
Global Markets investors bought large cap stocks. Both FIIs and
Index Latest Values Change (%) domestic institutions bought equities worth `1.46bn
DJIA 12,150.13 0.4% and `0.38bn, respectively.
NASDAQ 2,649.56 -0.2% • Asian markets are positive today after optimism
Nikkei * 8,644.28 0.8% returning ahead of this week’s crucial European
Hang Seng * 19,092.25 0.8% meetings after a report that a second rescue fund may
* as of 8.25AM IST
be available.
Currencies / Commodities Snapshot • We expect a flat to negative opening for the Indian
Latest Previous markets despite positive Asian markets due to catch
Quote Close up trading after a day's holiday.
Indian Rupee per $ 51.42 51.42
Economic and Corporate Developments
Indian Rupee per € 69.01 68.93
NYMEX Crude Oil($/bbl) 101.46 101.28
• Software industry body Nasscom maintained its
growth projection of 16-18% for the sector in this
Gold ($/oz) 1,730.60 1,727.90
fiscal, notwithstanding concerns over economic
Silver ($/oz) 32.53 32.67
uncertainty in global markets.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • Wipro Infrastructure Engineering, the hydraulics
Previous Current Change business arm of Wipro signed a joint venture
Company Name contract with Kawasaki Heavy Industries. According
Close (`) Price (`) (%)
Ashok Leyland 25.05 26.40 5.39 to the new agreement, the company will set up a
Shriram Trans 541.10 570.00 5.34 manufacturing facility for the manufacture of
Aurobindo Phar 92.45 96.50 4.38 hydraulic pumps for excavators.
ADANI POWER 73.25 76.45 4.37 • Meghmani Organics Ltd will invest over `240Cr for
Sun TV Network 281.05 292.35 4.02 setting up a chlorinated polyvinyl chloride (CPVC)
production facility jointly with Japanese firms,
(BSE Mid-Cap)
Kaneka Corporation and Mitsui & Co in Dahej. The
Previous Current Change company is believed to meet funding requirements
Company Name
Close(`) Price(`) (%)
through internal accruals.
Electrosteel 4.40 4.69 6.59
Monnet Ispat 370.95 395.00 6.48 • Hindalco Industries plans to make an additional
investment, equal to the $5bn (`25,700Cr) capex
Hindustan Oil 123.95 131.15 5.81
under way, to more than double its aluminium
GVK Power 10.84 11.46 5.72
production capacity by 2016.
Hindusthan Nat 145.75 153.80 5.52
• Ranbaxy Laboratories launched a generic version of
TOP LOSERS Caduet, used for treating cardio vascular diseases, in
the US market, as part of an agreement with Pfizer
(BSE A-Group)
Inc.
Previous Current Change
Company Name US markets
Close(`) Price(`) (%)
Pantaloon Retl 213.90 186.40 -12.86 U.S. stocks on Tuesday mostly extended the prior day’s
IB Real Estate 65.70 62.95 -4.19 gains with Wall Street on standby ahead of what is
CESC 260.30 249.95 -3.98 viewed as a crucial European Union summit at the end
JSW Steel 636.25 611.30 -3.92
of the week.
United Phos 137.30 132.90 -3.20 The Dow Jones Industrial Average finished with a gain
of 52.30 points, or 0.4%, at 12,150.13. The S&P 500
(BSE Mid-Cap)
rose 1.39 points, or 0.1%, to 1,258.47. The Nasdaq
Previous Current Change Composite fell 6.20 points, or 0.2%, to 2,649.56.
Company Name
Close(`) Price(`) (%)
Pantaloon Retl 213.90 186.40 -12.86
Bombay Rayon 246.10 221.85 -9.85
VIP Inds 124.05 117.85 -5.00
Kwality Dairy 51.50 48.95 -4.95
Sujana Towers 9.71 9.23 -4.94
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 / Wednesday2 Thursday2 Friday2 Monday2
Regions Dec. 7 Dec. 8 Dec. 9 Dec. 12
India Weekly Inflation Data Forex Reserves Data IIP Data
Weekly Supplement
of RBI
US EIA Petroleum Status
Jobless Claims Data International Trade
Report
Reuters/Michigan
Consumer Credit Wholesale Inventories Consumer Sentiment
Index
Quarterly Services
Money Supply
Survey
Global Germany Trade
Australia Gross UK Bank of England
Balance & Consumer
Domestic Product Interest Rate Decision
Price
UK Industrial and
Canada Housing UK Producer Price
Manufacturing
Starts Input and Output
Production
Germany Industrial Japan Gross UK Trade Balance &
Production Domestic Product Goods Trade Balance
Canada International
Japan Economic
Merchandise Trade &
Watchers Survey
Labour Productivity
Australia
Unemployment rate
European interest
rate decision
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