1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Thursday, July 21, 2011
Domestic Markets Snapshot Views on markets today
Name of Index July 19 July 20 Change (%) • Indian markets ended in the negative territory, giving
Sensex 18,653.87 18,502.38 -0.81%
away gains of last session as worries over quarterly
earnings and selling by foreign investor lower the
CNX Nifty 5,613.55 5,567.05 -0.83%
market sentiments. The fall was despite positive
BSE Mid-cap 7,050.79 6,988.77 -0.88% global cues post Barack Obama talks on US debt
BSE IT 5,877.25 5,833.79 -0.74% rating. Comments from Finance Minister Pranab
BSE Banks 12,936.31 12,763.34 -1.34% Mukherjee that inflation is expected to remain high
between August-December 2011 also pulled the
FII Activity (`Cr) market lower. Except FMCG, all sectoral indices closed
Date Buy Sell Net on negative note with power, pharma, capital goods
19-Jul 1981 1564 417 and auto stocks were major loser. Wipro fell nearly
3.9% after the company said that margins in this
18-Jul 1969 2022 -53
quarter would remain under pressure and revenue
Total July 35508 28524 9665
growth may lag industry rates in the financial year
2011 YTD 362257 353951 8306 ending March. Crompton Greaves plunged nearly 30%
MF Activity (`Cr) in the last two sessions after its June quarter net profit
more than halved. Dish TV India dropped more than
Date Buy Sell Net 4% after the direct-to-home service provider posted a
18-Jul 382 302 80 standalone quarterly loss and reported a marginal
15-Jul 282 361 -79 increase in churn rate.
Total July 6099 5698 1602 • Market breadth was weak at ~0.71x as investors sold
2011 YTD 74119 70865 3904
large cap stocks. FIIs sold equities worth `90.44Cr
while domestic institutions bought equities of
Volume & Advances / Declines `20.48Cr.
NSE BSE • Asian markets are trading down today ahead of a key
Trading Volume (`Cr) 11,315 3,165 European meeting on the Greek debt crisis scheduled
Advances 485 1,195 for later in the trading day. The Hong Kong shares
reported a sharp decline after a flat opening as HSBC's
Declines 979 1,696
preliminary China Purchasing Managers' Index fall to a
Unchanged 57 131 28-month low of 48.9 in July, marking the first
Total 1,521 3,022 contraction since July 2010.
Global Markets • We expect a weak opening for the Indian markets
tracking the global cues. Amid lack of enthusiasm of
Index Latest Values Change (%)
investors and trades we may see some volatility in the
DJIA 12,571.91 -0.1% markets. Weekly food inflation data which is set to
NASDAQ 2,814.23 -0.4% release today will add some volatility.
Nikkei * 9,993.63 -0.1% Key events today
Hang Seng * 21,873.88 -0.6% • Announcement of food and fuel price inflation data
* as of 8.45AM IST Economic and Corporate Developments
Currencies / Commodities Snapshot • Amid a likely moderation in industrial output, the govt.
Latest Previous lowered its GDP growth projection for 2011-12 to 8.6%
Quote Close from the earlier estimate of about 9%.
Indian Rupee per $ 44.33 44.46 • The government signed a loan agreement worth
Indian Rupee per € 63.15 63.23 $315mn with multilateral funding agency Asian
NYMEX Crude Oil($/bbl) 98.40 98.40 Development Bank (ADB) for the Karnataka State
highway improvement project.
Gold ($/oz) 1,602.00 1,596.90
Silver ($/oz) 40.03 40.11
• The government has allowed export of one million
tonne of non-basmati rice through private trade and
fixed the export price at $400 per tonne.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • L&T has bagged `1,210Cr order from Qatar General
Previous Current Change Electricity & Water Corp for supply and construction
Company Name
Close (`) Price (`) (%) of thirteen extra high voltage substations.
Petronet LNG 148.30 153.15 3.27
• Apollo Hospitals to issue 66 lakh equity shares to QIB
Gujarat State Pet 93.65 96.35 2.88
at `495 per share
D B REALTY 81.90 83.50 1.95
JSW ENERGY 74.80 76.05 1.67 • Reliance Capital in talks to sell another 23% stake in
DLF 239.85 243.75 1.63 Life Insurance Company
(BSE Mid-Cap) • PVR to exit film making, to focus distribution and
exhibition
Previous Current Change
Company Name • JK Paper plans to raise `246Cr through rights issue to
Close(`) Price(`) (%)
Simplex Infra 287.25 306.40 6.67 part finance the expansion at its unit at Rayagada in
Hotel Leela 45.55 48.25 5.93 Orissa.
Page Inds 1993.35 2085.15 4.61 • Cox & Kings acquired a stake in US-based travel
Radico Khaitan 126.00 131.75 4.56 company Radius for an undisclosed amount.
Petronet LNG 148.30 153.15 3.27 • Coal India misses targeted coal production due to
early rains and inclement weather in the eastern
TOP LOSERS region.
(BSE A-Group)
• Bank of Baroda planning to set up its pan-India call
Previous Current Change centre in Lucknow to cater to various customer
Company Name
Close(`) Price(`) (%)
demand, services and queries from any corner of the
Crompton Greav 207.65 176.95 -14.78
country.
Cadila Health 952.20 872.05 -8.42
• R-Infra set to launch a shopping hub at two stations,
SKS Microfinance 539.95 502.30 -6.97
New Delhi Railway Station and the Shivaji Stadium
Havells India 388.95 365.80 -5.95
station and may come up by October this year.
Dish TV India 93.20 89.05 -4.45
US markets
(BSE Mid-Cap)
US markets finished modestly lower Wednesday,
Previous Current Change
Company Name showing caution on unresolved debt issues in US and
Close(`) Price(`) (%)
SKS Microfinance 539.95 502.30 -6.97
Europe lingered. After posting its best session of the
year Tuesday, the Dow Jones Industrial Average fell
Sujana Towers 33.30 31.20 -6.31
15.51 points, or 0.1%, to close at 12,571.91, with its
Havells India 388.95 365.80 -5.95
30 components equally divided between gains and
Shree Global Trd 312.90 297.30 -4.99
losses. The S&P 500 Index fell 0.89 points, or 0.07%,
Spicejet 37.85 36.00 -4.89
to end at 1,325.84, with financial companies faring
best and consumer discretionary the worst among
its 10 major industry groups.
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