1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Wednesday, July 20, 2011
Domestic Markets Snapshot Views on markets today
Name of Index July 18 July 19 Change (%) • Indian markets snapped 2-day losing streak and
Sensex 18,507.04 18,653.87 0.79% closed on positive note amid choppy session as
export-focused software services companies
CNX Nifty 5,567.05 5,613.55 0.84%
rebounded on the back of upbeat earnings from peer
BSE Mid-cap 7,022.25 7,050.79 0.41%
IBM. A modest recovery in world markets also
BSE IT 5,809.46 5,877.25 1.17% underpinned the market, though the outlook remained
BSE Banks 12,845.21 12,936.31 0.71% clouded by debt woes in Europe and the United States.
FII Activity (`Cr) European markets and US futures rose on the back of
good financial results from Swiss pharmaceuticals
Date Buy Sell Net group Novartis AG and an upward revision in full year
18-Jul 1969 2022 -53 earnings forecast by IBM. The upward movement was
15-Jul 1657 1512 145 mainly led by gain in consumer durables, IT, real
Total July 33527 26960 9248 estate and metal stocks while auto, power and capital
2011 YTD 360276 352387 7889 goods stocks witnessed some selling pressure. HDFC
Bank hit all-time high after the bank reported a
MF Activity (`Cr) forecast-beating 34% rise in its June quarter net profit.
Date Buy Sell Net However, profit-taking later erased the gains and the
18-Jul 382 302 80 stock closed down 0.8%. Crompton Greaves tumbled
15-Jul 282 361 -79
~14% after the company reported 58.36% fall in its
consolidated net profit compared to last year due to
Total July 6099 5698 1602
34.54% increase in cost of consumption of raw
2011 YTD 74119 70865 3904 materials and 46.40% surge in depreciation
Volume & Advances / Declines • Market breadth was strong at ~1.36x as investors
NSE BSE bought large cap stocks. FIIs bought equities worth
`2.93bn while domestic institutions sold equities of
Trading Volume (`Cr) 9,900 2,863
`2.26bn.
Advances 900 1,652
Declines 545 1,219
• Asian markets rallied today led by technology stocks
after upbeat earnings reports from the U.S. Both the
Unchanged 68 133
Japanese and Hong Kong markets are up today.
Total 1,513 3,004
• We expect a positive opening for the Indian markets
Global Markets today driven by strong Asian markets. Fading
Index Latest Values Change (%) European debt concerns over Europe may help
DJIA 12,587.42 1.6% markets to remain on higher levels.
NASDAQ 2,826.52 2.2% Key events today
Nikkei * 10,022.60 1.3% • Opening of the IPO of Inventure Growth & Securities
Hang Seng * 21,924.51 0.1% Ltd. (price band `100-117 per share), closes July 22.
* as of 8.45AM IST Economic and Corporate Developments
Currencies / Commodities Snapshot • India has imposed anti-dumping duty of up to $1.41
Latest Previous per kg on imports of a gas, used primarily for
Quote Close refrigeration purpose, to protect domestic players
Indian Rupee per $ 44.49 44.50 from cheap Chinese and Japanese shipments.
Indian Rupee per € 62.97 63.09 • India produced a record quantum of wheat and pulses
NYMEX Crude Oil($/bbl) 98.30 97.50 in the 2010-11 crop year, ending June, at 85.93 million
Gold ($/oz) 1,590.50 1,601.10 tonne (MT) and 18.09 MT, respectively, on the back of
Silver ($/oz) 39.13 39.01
a good monsoon and higher support prices for
farmers.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • Chambal Fertilisers intended to demerge India
Previous Current Change Steamship, to provide the wholly-owned shipping
Company Name
Close (`) Price (`) (%) subsidiary more functional freedom. It will also
Zee Entertain 123.05 127.45 3.58 infuse `338Cr fresh capital to India Steamship.
Shre Renuka Sug 69.80 72.25 3.51
• Ashok Leyland would introduce passenger van
Mundra Port 154.90 160.20 3.42
through its joint venture partnership with Japanese
JUBL FOOD 886.35 913.30 3.04
auto maker Nissan Motors.
Bosch 7050.10 7253.95 2.89
• Tata Steel is in the final stages of deciding and
(BSE Mid-Cap) shorting the chrome ore mines in South Africa. The
Previous Current Change company has a ferrochrome plant in South Africa,
Company Name
Close(`) Price(`) (%) under the name, Tata Steel KZN.
Prestige Estates 125.20 133.90 6.95
• GAIL may acquire 50% stake in Andhra Pradesh Gas
COX KINGS 192.90 205.95 6.77
Distribution Corporation (APGDC), a wholly-owned
JM Financial 22.55 23.90 5.99
subsidiary of AP Gas Infrastructure Corporation.
Jyothy Lab 230.15 243.65 5.87
Delta Corp 106.75 112.75 5.62 • South Indian Bank has signed a service agreement
with Times of Money to ensure all NRIs across 22
TOP LOSERS countries get a robust transaction platform along
with better pricing, safety and speedy money
(BSE A-Group)
transfer under the NEFT/RTGS network.
Previous Current Change
Company Name • Cummins India is setting up an integrated
Close(`) Price(`) (%)
Crompton Greav 242.10 207.65 -14.23 manufacturing location called its megasite at
Sun TV Network 348.85 330.50 -5.26 Phaltan and is already looking to expand from its
present 150-acre domestic tariff area and 36-acre
Glen Pharma 326.60 316.05 -3.23
SEZ.
Tata Motors 1016.05 983.95 -3.16
Ashok Leyland 52.10 50.70 -2.69 • Essar Steel's finished steel production went up
35.44% in the first quarter with the company
(BSE Mid-Cap)
producing 1.07 million tonne in the first quarter.
Previous Current Change
Company Name US markets
Close(`) Price(`) (%)
Zydus Wellness 699.50 646.20 -7.62 US stocks rallied Tuesday, pushing the Dow Jones
Himadri Chem 54.45 51.20 -5.97 Industrial Average to its best day this year, after
GTL 86.15 81.10 -5.86 President Barack Obama cited progress in talks to
Shree Global Trd 329.35 312.90 -4.99 hike the US debt ceiling and upbeat results from
SKF India 681.40 650.00 -4.61 International Business Machines Corp. Notching its
best percentage and point gain since Dec. 1, 2010,
the Dow industrials rose 202.26 points, or 1.6%, to
12,587.42. The price-weighted index got a heavy
boost from IBM shares, which rallied $9.93, or 5.7%,
to $185.21 a share to lead advances for 27 of 30
Dow components.
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