1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Wednesday, February 29, 2012
Domestic Markets Snapshot Views on markets today
Name of Index Feb 28 Feb 27 Change (%) • After witnessing a brutal laceration of over 2.5% in the
Sensex 17,731.12 17,445.75 1.64% previous trading session, barometer gauges made a
CNX Nifty 5,375.50 5,281.20 1.79% strong recovery. However, the pullback that came
BSE Mid-cap 6,317.42 6,109.52 3.40% after the previous session’s dramatic sell off was long
BSE IT 6,143.50 6,177.89 -0.56% overdue. Sensex gained 285 points in yesterday’s
trading session, which took the barometer index
BSE Banks 12,045.11 11,589.28 3.93%
higher above the crucial psychological level of 17600
FII Activity (`Cr) level. Similarly, fresh buying by funds and retailers at
Date Buy Sell Net attractive lower levels also took the NSE 50-share Nifty
27-Feb 3,079 3,622 -542 higher above the psychological 5350 mark. Betrothed
in bottom fishing, underpinned by ease in oil prices,
24-Feb 9,676 2,078 7598
which offset concerns over rising energy costs
Total Feb 73,484 49,773 23711
undermining efforts to curb inflation and lower interest
2012 YTD 134,295 97,310 36985 rates. Gains of yesterday’s trading session were
MF Activity (`Cr) mainly on the back of buying in high beta Realty and
Metal counters, while consumer durables stocks also
Date Buy Sell Net
saw strong gains. Reliance Infra was the top gainer
24-Feb 1,660 960 700
followed by Reliance Communications, Reliance Power
23-Feb 752 975 -223 also extended gains. Other infra stocks like JP
Total Feb 11,783 13,864 -2080 Associates and IDFC saw buying interest.
2012 YTD 22,205 26,143 -3938
• Market breadth was strong at ~2.80x as investors
Volume & Advances / Declines bought large cap stocks. On provisional basis, FIIs
NSE BSE bought equity of `7.28Bn while domestic institutions
Trading Volume (Cr) 86.33 28.37
sold equity of `5.87Bn.
Turnover (`Cr) 13,991 2,817 • Asian markets rose sharply today, following the US
Advances 1,267 2,139 markets as Japanese industrial production numbers
Declines 246 765 beat the forecasts.
Unchanged 84 116 • We expect a positive opening for the Indian markets
Total 1,597 3,020 today, tracking the cues from the Asian markets while
resistance remain on higher crude oil prices front.
Global Markets
Index Latest Values Change (%)
Economic and Corporate Developments
DJIA 13,005.12 0.18% • The eight core industries grew by 0.5% in January
NASDAQ 2,986.76 0.69% mainly due to slackening output of crude oil, steel,
Nikkei * 9,846.46 1.27% natural gas and petroleum refinery products. During
Hang Seng * 21,687.06 0.55% December 2011, the core sectors recorded a growth of
3.1%.
* as of 8.25AM IST
Currencies / Commodities Snapshot Buzzing Stocks
Latest Previous • The Tamil Nadu Electricity Board (TNEB) has decided
Quote Close to break its ties with public-sector company Bharat
Indian Rupee per $ 49.07 49.08 Heavy Electricals Ltd (BHEL) for implement the Rs
Indian Rupee per € 66.02 66.07 8,000 crore Udangudi Power Project in Tamil Nadu.
NYMEX Crude Oil($/bbl) 106.92 106.55 The state government alleged that the project was
Gold ($/oz) 1,788.00 1,787.00 delayed for four years and one of the main reasons
Silver ($/oz) 35.38 35.56 was BHEL.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group)
• Shasun Pharmaceuticals is planning to invest around
Previous Current Change Rs 250 crore in the next fiscal year, towards setting
Company Name
Close(`) Price(`) (%) up its greenfield facility in Vizag and other regular
Indiabulls Fin 194.20 222.95 14.80 capital expenditure. The company is raising around
HDIL 99.10 112.75 13.77 Rs 50 crore from Mauritius-based Caduceus Asia
IFCI 39.70 44.45 11.96 Mauritius Ltd, a part of healthcare private equity
IRB Infra 168.85 188.25 11.49 fund OrbiMed Advisors LLC.
Reliance Infra 540.80 602.75 11.46 • An expected drop in sales may prompt Mahindra &
Mahindra to cut scheduled capacity expansion plans,
(BSE Mid-Cap) if the government goes ahead with the imposition of
Previous Current Change additional tax on diesel vehicles, according to
Company Name
Close(`) Price(`) (%) Mahindra and Mahindra.
Responsive Inds 97.15 113.00 16.31 • Essar Oil has received another setback after the
Indiabulls Fin 194.20 222.95 14.80 Supreme Court rejected the company’s 125 per cent
BGR Energy 293.25 336.50 14.75 sales tax deferment benefit claim on its investment
HDIL 99.10 112.75 13.77 in the Vadinar refinery project in Gujarat. A tribunal
IFCI 39.70 44.45 11.96 has ruled against the city-based entity in a case
relating to its around Rs 3,013-crore insurance claim
TOP LOSERS for damages sustained by its refinery during a
cyclone in 1998.
(BSE A-Group)
• NTPC is planning to set up a 800-Mega watt (Mw)
Previous Current Change advanced ultra super critical plant, which will be first
Company Name
Close(`) Price(`) (%)
in the country. The plan is part of the newly-
Cairn India 376.65 367.20 -2.51
launched 9th Mission of the National Action Plan for
TCS 1250.20 1227.70 -1.80 Climate Change.
Container Corp 995.50 981.95 -1.36
• The Union government will raise at least Rs 12,400
ABB 830.20 822.35 -0.95
crore through the sale of five per cent stake in Oil
Wipro 424.25 420.30 -0.93
and Natural Gas Corporation (ONGC), giving it a
(BSE Mid-Cap) much-needed cushion in the run-up to the Budget.
The government would sell 427.77 million shares at
Previous Current Change
Company Name a floor price of Rs 290 through the recently
Close(`) Price(`) (%)
Shree Global Trd 157.75 149.90 -4.98 introduced auction mechanism, the company said in
Glodyne Tech 214.95 210.10 -2.26 a notice to the stock exchanges. The auction will be
Mindtree 450.00 443.00 -1.56 held during trading hours on March 1.
Amara Raja 276.65 273.00 -1.32 US markets
KSK Energy 68.35 67.50 -1.24 U.S. stocks rose Tuesday, sending the Dow Jones
Industrial Average to its first close above 13,000 since
May 2008, as consumer confidence hit a 12-month high
and oil prices fell. The Dow Jones Industrial Average
added 23.61 points, or 0.2%, to 13,005.12. The S&P
500 climbed 4.59 points, or 0.3%, to 1,372.18. The
Nasdaq Composite rose 20.60 points, or 0.7%, to
2,986.76.
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 / Wednesday Thursday Friday
Regions 29/Feb 1/Mar 2/Mar
India GDP & Fiscal Deficit Trade deficit Government Forex Reserves Data
Infrastructure Output Weekly Supplement of
RBI
GDP & Real consumption Initial & continuing jobless
US
Expenditure claims
ISM manufacturing
Global Eurozone CPI EU economic summit EU Economic Summit
Japan's housing stats & HSBC & NBS Manufacturing UK Halifax House
Capital Spending PMI Prices (3M/YoY & MoM)
Germany unemployment rate Eurozone unemployment rate UK PMI Construction
UK cosumer confidence & Euro Zone Producer
credit Price Index (YoY &
MoM)
Eurozone CPI EU economic summit EU Economic Summit
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