- The Indian markets snapped a three-day winning streak and closed lower due to weak global markets and concerns over Greece's bailout. - Key indices like the Sensex and Nifty closed slightly down. Buying was seen in real estate, power and IT stocks while metals and oil & gas stocks declined. - Asian markets traded higher on Friday taking cues from strong US economic data and earnings. The report provides analysis on various domestic and global stock market indices and economic indicators.

1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Friday, February 17, 2012
Domestic Markets Snapshot Views on markets today
Name of Index Feb 15 Feb 16 Change (%) • Indian markets snapped a three-day winning streak
Sensex 18,202.41 18,153.99 -0.27% and closed on negative note yesterday as weak global
markets with another delay in sealing a crucial bailout
CNX Nifty 5,531.95 5,521.95 -0.18%
for Greece weighed on markets sentiment. Worries
BSE Mid-cap 6,480.68 6,548.02 1.04%
over a bailout for Greece prevailed after the eurozone
BSE IT 6,149.12 6,179.08 0.49% leaders reportedly postponed the decision on granting
BSE Banks 12,558.11 12,559.43 0.01% Greece a second bailout despite repeated assurances
FII Activity (`Cr) from Greek leaders on budget reforms. However, the
markets pared some of its initial losses, which enabled
Date Buy Sell Net
the BSE Sensex and the NSE Nifty to close above the
14-Feb 2,972 1,825 1147 key levels of 18,000 and 5,500, respectively. The
13-Feb 2,592 1,944 648 downward movement was led by selling pressure in
Total Feb 36,572 25,535 11037 metal, oil & gas, consumer durables and FMCG stocks
2012 YTD 89,511 67,393 22118 while buying activities in real estate, power, capital
goods and IT stocks help the markets to pare some of
MF Activity (`Cr)
its initial losses. Airline stocks rose after state-run oil
Date Buy Sell Net marketing companies cut jet fuel prices for the second
14-Feb 536 484 52 time in a month, a move that will provide some relief
13-Feb 313 574 -261 to cash-strapped carriers who have been hit by rising
Total Feb 6,107 7,220 -1113 fuel costs. Jet Airways rose 2.4%. Kingfisher closed
0.6% higher even after reporting its net loss for
2012 YTD 16,528 19,496 -2968
December quarter widened 75% from a year earlier
Volume & Advances / Declines while Spicejet gained 1.6%. Coal India slumped 5.8%,
NSE BSE its biggest fall in more than seven months, on
Trading Volume (Cr) 120.43 37.93 concerns that a government order to sign a 20-year
guaranteed coal supply contract with power producers
Turnover (`Cr) 16,904 3,620
may hurt its earnings. Brokerage CLSA also
Advances 855 1,640
downgraded it to "sell" from "outperform" and cut its
Declines 648 1,292 target price to `315 from `350. Reliance Industries lost
Unchanged 62 112 ~3% on concern that gas output from its Krishna-
Total 1,565 3,044 Godavari D6 block, off India's east coast, may be 66%
lower than initial estimate from April. Sun
Global Markets
Pharmaceutical Industries shed 2.8% after it said that
Index Latest Values Change (%) Wyeth had claimed $960mn in damages from the
DJIA 12,904.08 0.96% company in a lawsuit.
NASDAQ 2,959.85 1.51% • Market breadth was however strong at ~1.27x as
Nikkei * 9,400.18 1.75% investors bought large cap stocks. On provisional
Hang Seng * 21,533.76 1.21% basis, FIIs bought equity of `1.84bn while domestic
* as of 8.25AM IST institutions sold equity of `3.91bn.
• Asian shares traded solidly higher Friday, bolstered by
Currencies / Commodities Snapshot
US economic data and earnings, and with Japanese
Latest Previous exporters getting a boost as the yen falls further.
Quote Close
Indian Rupee per $ 49.32 49.29 • We expect a positive opening for the Indian markets,
Indian Rupee per € 64.72 64.74 as Asian markets indicating encouraging cues.
NYMEX Crude Oil($/bbl) 102.40 102.31 Economic and Corporate Developments
Gold ($/oz) 1,732.30 1,726.80 • Govt plans to make 30% sourcing from MSEs
Silver ($/oz) 33.57 33.37 mandatory.
Keynote Capitals Institutional Research (research@keynotecapitals.net) (+9122-30266000)
Keynote Capitals Institutional Research is also available on
Bloomberg KNTE <GO>, Thomson One Analytics, Reuters Knowledge, Capital IQ, TheMarkets.com and securities.com
Keynote Capitals Institutional Research - winner of “India’s Best IPO Analyst Award 2009” by MCX-Zee Business
To unsubscribe from this mailing list, please reply to unsubscribe@keynotecapitals.net

2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group)
• Unitech would contest the compensation claim by
Previous Current Change Telenor, the Norwegian majority partner of its
Company Name
Close(`) Price(`) (%) telecom arm, Unitech Wireless. Unitech is already
IFCI 41.95 46.85 11.68
under stress due to dropping profits, slow pace of
HDIL 110.85 119.80 8.07
delivery, high interest rates, the overall gloom in the
Aditya Birla Nuv 858.60 916.20 6.71 realty sector, and the long-drawn 2G spectrum case
IRB Infra 189.10 201.45 6.53 that its telecom arm has been linked to.
Lanco Infra 19.10 20.30 6.28
• ITC buys 4.62% in Hotel Leela from Russell Credit.
(BSE Mid-Cap)
• Global coal prices may zoom as CIL needs to go on
Previous Current Change buying spree.
Company Name
Close(`) Price(`) (%)
D B REALTY 82.65 95.10 15.06 • Magma Fincorp plans to start gold finance biz in H1
TV18 Broadcast 31.15 35.60 14.29 of FY13.
INDIAB POWER 16.55 18.66 12.75 • Kingfisher needs more funds to remain going
IFCI 41.95 46.85 11.68 concern.
Shipping Corp 69.95 77.85 11.29
• ONGC may invoke force majeure clause for 2 KG
TOP LOSERS blocks.
(BSE A-Group) • LIC to pick up to 5% stake in Punjab & Sind Bank.
Previous Current Change US markets
Company Name
Close(`) Price(`) (%)
U.S. stocks surged Thursday, with the Dow industrials
Voltas 118.25 111.70 -5.54
less than 100 points from the 13,000 level, as the
Coal India 339.45 321.00 -5.44
outlook for Greece’s bailout improved and American
Indusind Bank 331.90 315.95 -4.81
jobless claims slid to a nearly four-year low.
Hindalco Inds 162.30 154.65 -4.71
Sterlite Inds 134.75 129.15 -4.16 The Dow Jones industrial average was up 32.62 points,
or 0.28%, at 11,555.63. The Standard & Poor's 500
(BSE Mid-Cap) Index was up 2.64 points, or 0.22%, at 1,195.19. The
Previous Current Change Nasdaq composite index was down 11.83 points, or
Company Name
Close(`) Price(`) (%) 0.47%, at 2,515.51.
S Mobility 78.45 74.00 -5.67
Voltas 118.25 111.70 -5.54
Shree Global Trd 183.75 174.60 -4.98
VAARAD 38.90 37.00 -4.88
Sunteck Realty 417.35 400.60 -4.01
Keynote Capitals Institutional Research (research@keynotecapitals.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 / Friday Monday Tuesday Thursday
Regions 17/Feb 20/Feb 21/Feb 23/Feb
India Forex Reserves Data
Weekly Supplement
of RBI
US Consumer Price Index Chicago Fed national 4-Week Bill Jobless claims
(YoY & MoM) activity index Announcement
Consumer Price Index 3-Month Bill Auction Housing Price Index
Ex Food & Energy
(YoY & MoM)
Leading Indicators
(MoM)
Global UK Nationwide Japan's All Industry UK BBA (British
Housing Prices (YoY & Activity Index (MoM) bankers association
MoM) )Mortgage Approvals
UK Retail Sales (YoY UK's Public Sector Net
& MoM) Borrowing
UK Retail Sales ex- Eurozone Consumer
Fuel (YoY & MoM) Confidence
Euro Zone Purchasing
Manager Index
Services (Feb)
Euro Zone
Construction Output
(YoY & MoM)
KEYNOTE CAPITALS LTD.
4th Floor, Balmer Lawrie Building, 5, J. N. Heredia Marg, Ballard Estate, Mumbai 400 001. INDIA
Tel. : 9122-2269 4322 / 24 / 25 • www.keynotecapitals.com
Disclaimer: This report is purely for information purpose and is based on public information. News content is attributable to
various media, unless specified otherwise. All market related statistical data pertains to the immediately preceding trading day,
unless stated otherwise. Neither the information nor any opinion expressed in this report constitutes an offer, or an invitation to
make an offer, to buy or sell the securities mentioned herein. We or any of our directors, officers or employees shall not in any
way be responsible for any loss arising from the use of this report. Investors are advised to apply their own judgment before
acting on the contents of this report. The report has not been edited due to time constraints.