1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Wednesday, November 30, 2011
Domestic Markets Snapshot Views on markets today
Name of Index Nov 28 Nov 29 Change (%) • Indian markets closed on negative note yesterday as
Sensex 16,167.13 16,008.34 -0.98% investors stay cautious ahead of the GDP data and
CNX Nifty 4,851.30 4,805.10 -0.95% took fright of political opposition to opening up the
BSE Mid-cap 5,696.92 5,665.29 -0.56% retail sector to multinationals, which could further slow
BSE IT 5,504.66 5,463.90 -0.74% down dwindling growth and hit investment. The
BSE Banks 10,104.09 9,911.10 -1.91% markets declined sharply in the afternoon session,
after European markets opened weak, as pressure
FII Activity (`Cr) built on speculation that S&P would downgrade
Date Buy Sell Net outlook on France's AAA sovereign debt and Moody's
28-Nov 1,729 1,950 -221 signal of possible cut for Europe banks dampened the
25-Nov 1,393 2,149 -756 sentiments. Citigroup has cut its growth estimate for
Total Nov 35069 39567 -4498 India to 7.1% for FY12 from its earlier forecast of 7.6%,
2011 YTD 560,325 563,228 -2903
citing domestic factors such as supply-side
bottlenecks in the coal and power sectors and lagged
MF Activity (`Cr) impact of monetary tightening. The downward
Date Buy Sell Net movement was mainly led by selling pressure in real
25-Nov 609 386 222 estate, bank, oil & gas and consumer durables stocks
24-Nov 733 581 152 while FMCG, pharma and auto stocks witnessed some
Total Nov 8489 7673 816 buying activities which gave some support to the
markets. DLF fell 3.3% on uncertainty about the retail
2011 YTD 119,926 114,472 5454
sector reform, after having rallied 7.1% over three
Volume & Advances / Declines sessions on hopes the liberalization would boost
NSE BSE demand for malls. Everonn Education rose 10% after
Trading Volume (`Cr) 9,752 1,896 report that the SEBI has cleared the Varkey group's
Advances 581 1,219 open offer.
Declines 894 1,515 • Market breadth was weak at ~0.81x as investors
Unchanged 56 118 bought large cap stocks. FIIs sold equities worth
Total 1,531 2,852 `3.21bn while domestic institutions bought equities of
`3.61bn.
Global Markets
• Asian stocks retreated on Wednesday as investors sold
Index Latest Values Change (%)
equities for booking profits in miners and bank stocks.
DJIA 11,555.63 0.3%
NASDAQ 2,515.51 -0.5% • We expect a weak opening for the Indian markets
Nikkei * 8,406.56 -0.8% today coinciding the Asian markets. The investors will
Hang Seng * 18,128.89 -0.7% also remain cautious ahead of the GDP data slated to
be announced today morning.
* as of 8.25AM IST
Currencies / Commodities Snapshot Key events today
Latest Previous • Announcement of GDP data for September quarter.
Quote Close
• Announcement of Infrastructure growth data.
Indian Rupee per $ 51.98 52.02
Indian Rupee per € 69.33 69.36 Economic and Corporate Developments
NYMEX Crude Oil($/bbl) 99.57 99.79
• The government said the slowdown in the Europe and
Gold ($/oz) 1,723.00 1,713.40 US may have contributed to the moderation in India's
Silver ($/oz) 31.87 31.85 economic growth rate to 7.7% during the first quarter
of the current fiscal.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • Lenders to the GTL group have sought a personal
Previous Current Change guarantee from the company’s promoter, Manoj
Company Name
Close (`) Price (`) (%) Tirodkar, as part of the negotiations for corporate
Wockhardt 390.15 413.65 6.02 debt restructuring (CDR). According to banking
Dish TV India 65.10 67.85 4.22 sources privy to the discussions, Tirodkar is reluctant
M&M Finance 623.25 647.20 3.84 to agree on the extent of guarantee sought by the
Indiabulls Fin 132.60 136.30 2.79 25-member consortium of lenders, led by IDBI Bank
Gujarat State Pet 86.15 88.45 2.67 and ICICI Bank.
(BSE Mid-Cap) • Astral, Lubrizol JV to set up a chlorinated polyvinyl
Previous Current Change chloride (CPVC) compound industrial unit to be
Company Name
Close(`) Price(`) (%) finalised by March 2012.
D B REALTY 70.90 77.00 8.60
• Apollo Hospitals Enterprises has said that it is
Eros Intl Media 202.45 217.70 7.53 looking for partners to develop projects in Mumbai
D B CORP 205.80 219.90 6.85 and its suburbs. This comes after the fallout of its
Wockhardt 390.15 413.65 6.02 joint venture with One Equity Partners, a subsidiary
Hindustan Oil 117.90 124.55 5.64 of the JP Morgan group recently.
• ConAgra buys 3.67% more in Agro Tech to take its
TOP LOSERS
stake to 51.77%.
(BSE A-Group)
US markets
Previous Current Change
Company Name US stocks rose for a second day as U.S. consumer
Close(`) Price(`) (%)
Pantaloon Retl 223.35 196.80 -11.89 confidence increased by the most since 2003 and
Financial Tech 653.35 616.80 -5.59 European finance ministers discussed efforts to tame
the region’s debt crisis.
Shree Renu Sug 32.25 30.50 -5.43
Alstom Projects 416.05 393.85 -5.34 The Dow Jones Industrial Average ended up 32.62
HDIL 67.55 64.40 -4.66 points, or 0.3%, at 11,555.63. The Standard & Poor’s
500 Index rose 2.64 points, or 0.2%, to 1,195.19. The
(BSE Mid-Cap)
Nasdaq Composite Index fell 11.83 points, or 0.5%, to
Previous Current Change 2,515.51.
Company Name
Close(`) Price(`) (%)
Pantaloon Retl 223.35 196.80 -11.89
Balrampur Chini 46.75 43.60 -6.74
Financial Tech 653.35 616.80 -5.59
Shree Renu Sug 32.25 30.50 -5.43
Alstom Projects 416.05 393.85 -5.34
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