1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Wednesday, March 07, 2012
Domestic Markets Snapshot Views on markets today
Name of Index 5-Mar 6-Mar Change • In a volatile trade yesterday, Sensex dropped nearly
Sensex 17,362.87 17,173.29 -1.09% 190 points due to profit booking by investors as poor
CNX Nifty 5,280.35 5,222.40 -1.10% performance by the ruling party raised concerns over
its ability to push reforms to boost the economic
BSE Mid-cap 6,271.17 6,201.47 -1.11%
growth. Market participants grew increasingly worried
BSE IT 6,051.16 6,082.91 0.52%
as the ideal outcome of a Samajwadi Party (SP) -
BSE Banks 11,706.88 11,579.77 -1.09% Congress alliance in Uttar Pradesh assembly elections
FII Activity (`Cr) fell apart since the SP emerged as the single largest
party in the state with a clear majority. The weakening
Date Buy Sell Net
in Indian rupee which depreciated to above `50 per
5-Mar 1,871 1,675 197
dollar along with the spike up in government bond
2-Mar 2,385 1,783 602 yields, too undermined sentiments. Majority of the
Total Mar 6,693 5,619 1075 sectors were on the negative zone barring FMCG,
2012 YTD 147,624 108,057 39567 Consumer Durables and IT. Metal sector being worst at
MF Activity (`Cr) 3.08% down followed by Power down 2.38%, Capital
Goods down by 1.94%, Oil & Gas down by 1.79%.
Date Buy Sell Net Major losers on the sensex were Sterlite Inds 5.44%,
5-Mar 415 559 -144 Tata Steel 5.40%, Tata Power 4.11%, Jindal Steel
2-Mar 398 548 -150 3.76% and the major gainers were DLF 2.97%,
Total Mar 1,278 1,764 -487 Siemens 2.58%, ITC 1.64%, Infosys 1.52%.
2012 YTD 26,639 31,155 -4516 • Market breadth was weak at ~0.59x as investor sold
Volume & Advances / Declines large cap stock. On provisional basis, FIIs sold equity
of `2.41Bn and domestic institutions bought equity of
NSE BSE
`1.80Bn.
Trading Volume (Cr) 88.30 28.06
Turnover (`Cr) 15,012 3,038 • Asia markets dropped on Wednesday led by banks and
resource firms, as fresh fears of Greek default and
Advances 420 1,048
slowing global growth worries hurt investor
Declines 1,062 1,773
confidence.
Unchanged 59 113
• We expect a weak opening for the Indian markets,
Total 1,541 2,934
which took the hit after the performance of Congress
Global Markets in the Uttar Pradesh was disappointing and raised the
Index Latest Values Change (%) fears of slowdown in important policy making
DJIA 12,759.15 -1.57% decisions.
NASDAQ 2,910.32 -1.36% Economic and Corporate Developments
Nikkei * 9,566.07 -0.74%
Hang Seng * 20,672.62 -0.64% • Concerned over the rising public debt, a finance
ministry paper has suggested that government could
* as of 8.25AM IST
aim at a fiscal deficit of 4.3% of GDP during the next
Currencies / Commodities Snapshot financial year beginning April 1, 2012.
Latest Previous
• State-owned oil companies are pushing for raising
Quote Close
petrol price by over Rs 5 per litre but the actual
Indian Rupee per $ 50.36 50.38
increase would depend on the government nod.
Indian Rupee per € 66.22 66.08
NYMEX Crude Oil($/bbl) 105.28 104.70
Gold ($/oz) 1,673.10 1,671.40
Silver ($/oz) 32.92 32.74
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group)
• Seforge Limited, a Suzlon Group subsidiary, said it
Previous Current Change
Company Name made an agreement with an undisclosed wind
Close(`) Price(`) (%)
Titan Inds 223.85 230.40 2.93 turbine manufacturer for the supply of machined
Engineers India 264.80 272.15 2.78 tower flanges, used for wind towers, over a period of
DLF 192.20 197.45 2.73 three years. The Rs 367 crore contract covers supply
Indian Bank 233.30 238.60 2.27 of flanges for wind turbine towers for projects in
India and international markets.
Thermax 518.65 527.50 1.71
• Tata Motors has stepped up research and
(BSE Mid-Cap) development funding on premium brands Jaguar and
Previous Current Change Land Rover, promising over 30 new offerings
Company Name
Close(`) Price(`) (%) including new products, variants and face-lifts over
Glodyne Tech 242.85 257.60 6.07 the next three-five years.
Kwality Dairy 38.80 41.10 5.93 • The Mumbai-based company, which owns the two
Sadbhav Engr 134.35 141.00 4.95 UK-based brands, has doubled the spending on
Gillette India 2226.25 2336.15 4.94 capital expenditure and product development plan
Abbott India 1510.50 1572.40 4.10 to £1.5-6 billion per year from about £800 million per
year spent in the last four-five years.
TOP LOSERS • Tata Steel has increased prices of its long products
by about Rs 1,000 per metric tonne.
(BSE A-Group)
• Ranbaxy Laboratories launched generic versions of
Previous Current Change
Company Name Atorvastatin tablets, used for treating cholesterol, in
Close(`) Price(`) (%)
Unitech 29.65 27.25 -8.09
Italy, Sweden Netherlands and Germany.
Reliance Power 135.35 125.75 -7.09 US markets
Pantaloon Retl 172.60 160.50 -7.01
Chambal Fert 83.55 78.05 -6.58 U.S. stocks on Tuesday made their biggest drop this
JSW Steel 756.75 710.25 -6.14 year, sending the Dow to a triple-digit loss, as fears
about the impact of a disorderly Greek bond default
(BSE Mid-Cap) returned to a market that had recently put Europe-crisis
Previous Current Change concerns on the back burner.
Company Name
Close(`) Price(`) (%)
Unitech 29.65 27.25 -8.09 The Dow Jones Industrial Average closed down 203.66
GVK Power 17.65 16.25 -7.93 points, or 1.6%, to 12,759.15. The S&P 500 Index sank
Bajaj Hind 36.25 33.40 -7.86 20.97 points, or 1.5%, to 1,343.36. The Nasdaq
BGR Energy 346.95 322.00 -7.19 Composite lost 40.16 points, or 1.4%, to 2,910.32.
Pantaloon Retl 172.60 160.50 -7.01
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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 Monday
Regions 7/Mar 8/Mar 9/Mar 12/Mar
India Forex Reserves Data IIP Data
Weekly Supplement
of RBI
Consumer Credit Trade Balance &
US
Unemployment rate
ADP employment Average Weekly
change Hours
Average Hourly
Earnings (YoY & MoM)
Nonfarm Payrolls &
Wholesale Inventories
Germany IIP UK Bank of england UK Producer Price European Union
Global Interest rate Index - Input (YoY & Finance Ministers
MoM) n.s.a meeting
Japan economic index UK Producer Price Bank of Japan Interest
& GDP Index - Output (YoY& rate decision
MoM)) n.s.a
Goods Trade Balance Japan Consumer
& Trade Balance; Confidence Index
non-EU
UK Manufacturing &
IndustrialProduction
(YoY & MoM)
China Consumer Price
Index & Producer
Price Index (YoY)
China Industrial
Production & Retail
Sales (YoY)
UK GDP data
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