1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Tuesday, September 27, 2011
Domestic Markets Snapshot Views on markets today
Name of Index Sept 23 Sept 26 Change (%) • Indian markets continued their losing streak for fourth
Sensex 16,162.06 16,051.10 -0.69% consecutive day and closed on negative note amid a
choppy trade yesterday as renewed concerns over
CNX Nifty 4,867.75 4,835.40 -0.66%
Europe's debt woes and fears of recession in the US
BSE Mid-cap 6,222.80 6,131.37 -1.47%
continued to weigh on investor sentiment. Investors
BSE IT 4,985.55 5,006.37 0.42% reacted cautiously to the latest efforts by European
BSE Banks 10,760.73 10,738.86 -0.20% policymakers to stop the fallout from the region's debt
FII Activity (`Cr) crisis. Selloff in the global commodity markets hit
shares in Indian metals and mining companies.
Date Buy Sell Net However, with the recovery in the European markets,
23-Sep 1648 2838 -1190 which was led by bank stocks as hopes for an
22-Sep 1353 2588 -1235 extension of the euro-zone bailout program, Indian
Total Sept 38609 38779 -170 markets pared some of the intraday losses. Except IT,
2011 YTD 471315 472284 -978 all sectoral indices closed on negative with consumer
durable, metal, oil & gas and capital goods stocks
MF Activity (`Cr) were major losers. Metal and mining stocks were
Date Buy Sell Net among the worst hit after copper futures in Shanghai
23-Sep 467 458 9 and London crashed as fears of a Greek default
22-Sep 413 454 -41 caused panic about a possible sharp slowdown in
global demand for industrial metals. Ind-Swift
Total Sept 7122 7973 -851
Laboratories rose 1.1% after a top official with the
2011 YTD 100296 95145 5423
pharmaceutical ingredient-maker said it had received
Volume & Advances / Declines approval to sell seven products in Australia. Titan
Industries fell 7.3% after gold fell 3% on the day,
NSE BSE
taking losses to 10% over the last three days.
Trading Volume (`Cr) 10,774 2,922
Advances 321 786 • Market breadth was weak at ~0.40x as investors sold
large cap stocks. FIIs sold equities worth `10.83bn
Declines 1,163 1,966
while domestic institutions bought equities of `5.75bn.
Unchanged 44 109
• Asian markets are up today following their US
Total 1,528 2,861
counterparts which gained after renewed hopes about
Global Markets resolution of the European financial problems.
Index Latest Values Change (%) • We expect a positive opening for the Indian markets
DJIA 11,043.86 2.5% as Asian markets provide strong cues.
NASDAQ 2,516.69 1.3% Economic and Corporate Developments
Nikkei * 8,524.56 1.8% • India has allowed four firms to raise `300bn via tax-
Hang Seng * 17,885.15 2.7% free bonds in the current financial year that began
* as of 8.45AM IST April 1. National Highways Authority of India (NHAI)
and Indian Railway Finance Corp (IRFC) can each raise
Currencies / Commodities Snapshot
`100bn, while Housing and Urban Development Corp.
Latest Previous (HUDCO) and Power Finance Corp can each raise
Quote Close
`50bn.
Indian Rupee per $ 49.19 49.36
Indian Rupee per € 66.88 66.88
• The capital markets division of the finance ministry
has mooted a proposal to abolish or substantially
NYMEX Crude Oil($/bbl) 82.08 80.24
dilute the securities transaction tax (STT), a levy that
Gold ($/oz) 1,642.70 1,592.70 fetches the government around `7,500Cr a year but is
Silver ($/oz) 30.38 29.92 disliked by investors as it adds to the cost of buying
and selling shares in the country.
Keynote Capitals Institutional Research (research@keynoteindia.net) (+9122-30266000)
Keynote Capitals Institutional Research is also available on
Bloomberg KNTE <GO>, Thomson One Analytics, Reuters Knowledge, Capital IQ, TheMarkets.com and securities.com
Keynote Capitals Institutional Research - winner of “India’s Best IPO Analyst Award 2009” by MCX-Zee Business
To unsubscribe from this mailing list, please reply to unsubscribe@keynotecapitals.net

2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • GMR Infrastructure agreed to sell a 30% stake in
Previous Current Change GMR Energy (Singapore) to Petronas International
Company Name
Close (`) Price (`) (%) Corporation, an arm of Malaysian state-run oil firm
BOB 774.50 802.75 3.65 Petronas, subject to approval of lenders.
Indiabulls Fin 153.45 158.90 3.55
• DB Realty is in talks with major real estate
Indian Bank 200.40 206.90 3.24
companies for joint developments in two of its prime
Central Bank 100.40 102.85 2.44
properties in the city which are valued around
Jaiprakash Asso 67.50 69.10 2.37
`3,000Cr.
(BSE Mid-Cap) • Orient Green Power Company synchronised a wind
Previous Current Change farm of 40.80MW capacity with the state grid of
Company Name
Close(`) Price(`) (%) Tamil Nadu through its subsidiary Beta Wind Farms
HATHWAY CAB 82.55 89.50 8.42
Ltd. The farm is located at Kazugumalai in the
Kirloskar Oil 135.00 145.40 7.70 Tirunelveli / Thuthukudi districts.
KGN Inds 24.65 25.85 4.87
• JSW Steel has scaled down steel production at its key
ABG Shipyard 379.90 396.30 4.32
plant to 30% of its capacity from Saturday, after
Himadri Chem 47.20 49.20 4.24
state-run NMDC stopped supplying iron ore.
TOP LOSERS US markets
(BSE A-Group) U.S. stocks surged to finish near the session’s highs
Monday as optimism that European leaders will
Previous Current Change
Company Name reach an agreement to contain the region’s debt
Close(`) Price(`) (%)
Titan Inds 223.65 207.40 -7.27 crisis led investors to snap up beaten-down equities
Hindustan Zinc 126.30 118.85 -5.90 before the end of the September quarter.
Jain Irrigation 152.25 143.30 -5.88 The benchmark Dow Jones Industrial Average rose
Rajesh Exports 122.05 115.25 -5.57 272.38 points, or 2.5%, to end at 11,043.86. The
Coal India 366.20 346.20 -5.46 S&P 500 index jumped 26.52 points, or 2.3%, to
1,162.95. The Nasdaq Composite overcame volatility
(BSE Mid-Cap)
that pulled the index into the red for a substantial
Previous Current Change part of the day to finish up 33.46 points, or 1.4%, at
Company Name
Close(`) Price(`) (%)
2,516.69.
Shree Global Trd 387.30 348.60 -9.99
Hindustan Oil 117.00 107.15 -8.42
NCC 65.80 61.05 -7.22
CHOLAFIN 159.80 150.40 -5.88
Jain Irrigation 152.25 143.30 -5.88
KEYNOTE CAPITALS LTD.
4th Floor, Balmer Lawrie Building, 5, J. N. Heredia Marg, Ballard Estate, Mumbai 400 001. INDIA
Tel. : 9122-2269 4322 / 24 / 25 • www.keynoteindia.net
Disclaimer: This report is purely for information purpose and is based on public information. News content is attributable to
various media, unless specified otherwise. All market related statistical data pertains to the immediately preceding trading day,
unless stated otherwise. Neither the information nor any opinion expressed in this report constitutes an offer, or an invitation to
make an offer, to buy or sell the securities mentioned herein. We or any of our directors, officers or employees shall not in any
way be responsible for any loss arising from the use of this report. Investors are advised to apply their own judgment before
acting on the contents of this report. The report has not been edited due to time constraints.