1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Monday, January 23, 2012
Domestic Markets Snapshot Views on markets today
Name of Index Jan 19 Jan 20 Change (%) • Indian markets rallied to their highest close in six
Sensex 16,643.74 16,739.01 0.57% weeks on Friday amid high volatility, as risk appetite
CNX Nifty 5,018.40 5,048.60 0.60% was bolstered by strong results from software services
BSE Mid-cap 5,669.99 5,680.07 0.18% exporter Wipro and the country's No. 3 private lender
BSE IT 5,495.90 5,499.91 0.07% Axis Bank. Wipro up as much as 2.4% after it reported
BSE Banks 10,542.14 10,912.15 3.51% December-quarter net profit rose 10.4%, roughly in-
line with estimates while Axis Bank rose 5.65% after
FII Activity (`Cr)
reporting a 24% jump in quarterly net profit. Firm cues
Date Buy Sell Net from other Asian markets also helped the markets to
19-Jan 2,823 2,125 698 close on positive note. The upward movement was
18-Jan 3,002 2,041 961 mainly led by gain in bank, consumer durable, power
Total Jan 30,815 24,721 6094 and oil & gas stocks while FMCG, pharma and metal
2012 YTD 30,815 24,721 6094 stocks witnessed some selling pressure. Interest rate
sensitive banking stocks rose on expectations that the
MF Activity (`Cr)
Reserve Bank of India will start cutting interest rates in
Date Buy Sell Net the coming months to prop up slowing economy. ICICI
19-Jan 575 565 10 Bank rose 5.7% while bigger rival State Bank of India
18-Jan 461 617 -156 gained 2.6%. Diversified ITC, the country's largest
Total Jan 6,308 6,994 -685 cigarette maker, fell 3.8% on concerns about
2012 YTD 6,308 6,994 -685 moderating volume growth despite its December
quarter net profit rising 22%. Energy conglomerate
Volume & Advances / Declines
Reliance Industries fell as much as 1.7% in early trade
NSE BSE but recovered to close up 0.89% ahead of its quarterly
Trading Volume (Cr) 82.39 27.55 earnings report. SKS Microfinance fell 5.8% after the
Turnover (`Cr) 13,694 2,948 lender reported a loss for the third consecutive
Advances 637 1,363 quarter.
Declines 835 1,481 • Market breadth was however weak at ~0.92x as
Unchanged 76 112 investors sold large cap stocks. On provisional basis,
Total 1,548 2,956 FIIs bought equities worth `8.19bn while domestic
Global Markets institutions sold equities of `6.14bn.
Index Latest Values Change (%) • Asian markets traded mixed early Monday, as
DJIA 12,720.48 0.8% encouraging earnings results against concerns over
Greece’s negotiations with its private-sector creditors
NASDAQ 2,786.70 -0.1%
kept investors cautious.
Nikkei * 8,782.16 0.2%
Hang Seng * 20,110.37 0.8% • We expect a cautious opening for the Indian markets
* as of 8.25AM IST today following the cues from the Asian markets and
investors caution ahead of the monetary policy review
Currencies / Commodities Snapshot
by the RBI.
Latest Previous
Quote Close Economic and Corporate Developments
Indian Rupee per $ 50.23 50.24
• India is expected to grow at 6.8% this year, as against
Indian Rupee per € 64.74 64.98
the previous forecast of 8%, but expansion is expected
NYMEX Crude Oil($/bbl) 98.04 98.33 to accelerate strongly in 2013 to touch 9.5%, global
Gold ($/oz) 1,668.10 1,664.00 audit and consulting firm Ernst & Young (E&Y) has
Silver ($/oz) 31.97 31.65 said.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • Larsen and Toubro (L&T) is expecting a 10% growth
Previous Current Change in sales from its electrical and automation business
Company Name
Close(`) Price(`) (%) in the next financial year.
IB Real Est 58.55 63.95 9.22
• After a long wait for government approval, Reliance
Suzlon Energy 22.75 24.60 8.13
Industries (RIL) is to begin work on development of
Pantaloon Retl 166.20 178.15 7.19 four satellite fields—D-2, D-6, D-19 and D-22—in
Indiabulls Fin 171.85 182.60 6.26 India’s largest gas field, block D6 in the Krishna-
Bajaj Auto 1467.10 1557.80 6.18 Godavari basin, or KG-D6.
(BSE Mid-Cap) • JSW Steel is said to be in talks with both NMDC and
Stemcor India for iron ore supply to its upcoming
Previous Current Change
Company Name Bengal steel plant.
Close(`) Price(`) (%)
IB Real Est 58.55 63.95 9.22 • The production target for world's largest coal
Suzlon Energy 22.75 24.60 8.13 producer Coal India (CIL) is likely to be fixed at 464
Pantaloon Retl 166.20 178.15 7.19 million tonnes (MT) for 2012-13.
Indiabulls Fin 171.85 182.60 6.26 • NTPC has protested against the new accounting
Federal Bank 363.50 383.65 5.54 norms that require companies to provide for foreign
exchange risks in their contracts.
TOP LOSERS
US markets
(BSE A-Group)
U.S. stocks closed near a six-month high Friday,
Previous Current Change extending gains into a third week, due to strong
Company Name
Close(`) Price(`) (%)
earnings results from Microsoft Corp. and International
Adani Enter 440.30 405.25 -7.96
Business Machines Corp.
Sun TV Network 296.85 279.65 -5.79
The Dow Jones Industrial Average ended Friday up
Educomp Sol 217.35 205.10 -5.64
96.50 points, or 0.8%, at 12,720.48. The S&P 500 Index
Jet Air India 242.55 231.65 -4.49
closed up 0.9 point, or 0.1%, at 1,315.38. The Nasdaq
HDIL 82.25 78.60 -4.44
Composite Index fell 1.63 point, or 0.1%, to 2,786.70.
(BSE Mid-Cap)
Previous Current Change
Company Name
Close(`) Price(`) (%)
Educomp Sol 217.35 205.10 -5.64
HT Media 131.25 124.30 -5.30
S Mobility-$ 83.80 80.00 -4.53
Jet Air India 242.55 231.65 -4.49
HDIL 82.25 78.60 -4.44
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 / Monday Tuesday Wednesday Thursday
Regions 23/Jan 24/Jan 25/Jan 26/Jan
India RBI Monetory Policy Weekly Inflation Data
Review
US FOMC Meeting Begins FOMC minutes Continuing Jobless
claims
US President Barack Fed interest rates EIA Crude oil Change
Obama Speaks decision
Richmond Fed Pending Home sales
Manufacturing Index
Global European Monetary Japan's BoJ Interest Germany business
Union - Consumer Rate Decision climate, Current
Confidence assessment and
expectation data
China HSBC Flash Germany Purchasing UK GDP data and
China Manufacturing Manager Index Bank of England
Purchasing Managers Manufacturing and minutes
Index Services
UK's Public Sector Net UK CBI Industrial
Borrowing trend survey - orders
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