1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Monday, November 14, 2011
Domestic Markets Snapshot Views on markets today
Name of Index Nov 9 Nov 11 Change (%) • Indian markets edged lower in volatile trade on catch
Sensex 17,362.10 17,192.82 -0.97% up trading after a holiday and closed on negative on
CNX Nifty 5,221.05 5,168.85 -1.00% Friday as the latest data showed that industrial
BSE Mid-cap 6,232.69 6,162.35 -1.13% production rose a dismal 1.9% in September 2011, the
BSE IT 5,793.17 5,744.13 -0.85% lowest rate of growth in 2 years and that food inflation
BSE Banks 11,020.96 10,686.97 -3.03% remained at elevated level in late October 2011.
However, European markets rose on Friday as
FII Activity (`Cr) investors bought beaten-down riskier assets, with
Date Buy Sell Net markets focused on whether debt-laden Italy could
9-Nov 2,080 1,659 422 implement tough austerity measures crucial to avoid a
8-Nov 1,702 1,199 503 euro zone meltdown. The downward movement was
Total Nov 11,493 10,047 1446 mainly led by selling pressure in bank, metal, capital
2011 YTD 538,475 536,505 1970
goods and real estate stocks while oil & gas, auto and
pharma stocks witnessed some buying activities which
MF Activity (`Cr) gave some support to the markets. Bank stocks
Date Buy Sell Net continued its downward movement as the investors
9-Nov 392 568 -177 sold equities on SBI's poor quarterly results on
8-Nov 240 287 -47 Wednesday and Moody's rate cut for the entire sector.
Total Nov 2473 2789 -316 The stocks even ignored S&P's rating upgrade for the
banking sector. Kingfisher Airlines slumped 9.5% to a
2011 YTD 114,604 110,058 4546
life low as the airline continued to cancel flights and
Volume & Advances / Declines newspapers reported leasing companies were
NSE BSE planning to take planes back and pilots were leaving.
Trading Volume (`Cr) 11,461 2,622 Educomp Solutions fell ~10% after it posted a 78%
Advances 379 937 drop in July-September profit.
Declines 1,108 1,912 • Market breadth was weak at ~0.49x as investors sold
Unchanged 54 112 large cap stocks. Both FIIs and domestic institutions
Total 1,541 2,961 sold equities worth `0.83bn and `1.13bn, respectively.
Global Markets • Asia markets climbed today after Italy takes steps to
appoint a new leader and passes an austerity budget,
Index Latest Values Change (%)
easing fears over Europe's debt crisis.
DJIA 12,153.68 2.2%
NASDAQ 2,678.75 2.0% • We expect a positive opening for the Indian markets
Nikkei * 8,617.27 1.2% tracking the strong cues from the Asian markets.
Hang Seng * 19,621.77 2.5% However, the upside in the early trading session will
be capped ahead of the crucial monthly inflation data.
* as of 8.25AM IST
Currencies / Commodities Snapshot Key events today
Latest Previous • Announcement of monthly inflation data for Sept.,
Quote Close 2011
Indian Rupee per $ 50.13 49.98
Economic and Corporate Developments
Indian Rupee per € 69.01 68.73
• In a toughening of stand on their exposure to the
NYMEX Crude Oil($/bbl) 99.02 98.99
power sector, banks have started refusing to disburse
Gold ($/oz) 1,794.80 1,788.10
sanctioned loans to generation companies unless
Silver ($/oz) 34.78 34.68
these firms are able to convince them about a steady
supply of coal.
Keynote Capitals Institutional Research (research@keynoteindia.net) (+9122-30266000)
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • Mahindra and Mahindra has expanded their
Previous Current Change production capacity from 1800 units to 2500 units
Company Name
Close (`) Price (`) (%) per year.
Tata Comm 187.10 195.80 4.65
• Ranbaxy expects of launching its first “new drug” by
Glenmark Pharm 318.90 333.00 4.42
January 2012 to combat malaria in the country.
Manap Gen Fin 63.80 65.85 3.21
M&M 813.00 838.40 3.12 • NMDC, Russian steel and mining giant OAO Severstal
Apollo Tyres 59.35 61.05 2.86 have signed the implementation protocol in Moscow,
a step further on the memorandum of understanding
(BSE Mid-Cap) they had signed in December 2010 for establishment
Previous Current Change of a steel plant with an initial capacity of 3mn tonnes
Company Name
Close(`) Price(`) (%) in Karnataka.
Hindustan Oil 123.05 133.90 8.82
• Alok Industries has started talks with major
Alok Inds 19.10 20.00 4.71
corporate groups and high net worth individuals
Tata Comm 187.10 195.80 4.65
(HNIs) to sell its property at Peninsula Business Park
Shree Global Trd 200.05 209.00 4.47
in central Mumbai, after a hiatus in talks with global
Glenmark Pharm 318.90 333.00 4.42
real estate funds.
TOP LOSERS • Cairn India stopped operations in two blocks during
the second quarter ended September 30, due to
(BSE A-Group)
"constant intervention" by the Ministry of Defence
Previous Current Change (MoD).
Company Name
Close(`) Price(`) (%)
Educomp Sol 269.65 241.75 -10.35 US markets
United Spirits 914.25 835.25 -8.64 US markets surged on Friday, ending higher for the
Pantaloon Retl 186.65 171.40 -8.17 week after the Italian Senate's approval of economic
Voltas 102.10 95.50 -6.46 reforms gave investors some relief from worries about
Aurobindo Phar 118.85 111.40 -6.27 the euro zone's debt crisis.
(BSE Mid-Cap) The Dow Jones industrial average was up 259.89 points,
or 2.19%, to end at 12,153.68. The Standard & Poor's
Previous Current Change
Company Name 500 Index was up 24.16 points, or 1.95%, to finish at
Close(`) Price(`) (%)
KSK Energy 79.10 69.95 -11.57 1,263.85. The Nasdaq Composite Index was up 53.60
Educomp Sol 269.65 241.75 -10.35
points, or 2.04%, to close at 2,678.75.
Zydus Wellness 591.40 530.60 -10.28
SKS Microfinance 175.55 158.00 -10.00
Network18 60.15 54.95 -8.65
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