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Daily Newsletter: 11th April, 2011


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Daily Newsletter: 11th April, 2011

  1. 1. April 11, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET 8-Apr 7-Apr % Change COMMENTARYBSE Sensex 19,451 19,591 (0.71) INDIANSE Nifty 5,845 5,886 (0.69) The Indian market extended its losing streak to the third straight trading session on Friday, ending the weekBSE Midcap 7,174 7,264 (1.25) with marginal gains. Friday’s fall was gradual with the key indices constantly under pressure after openingBSE Smallcap 8,773 8,897 (1.40) at day’s high. The decline was led by Realty, Auto, Consumer Durables and PSU stocks. Even the Mid-CapNifty Junior 11,547 11,715 (1.43) and the Small-Cap stocks were under pressure after outperforming the benchmark indices for the pastCNX Midcap 8,284 8,419 (1.60) three days. Technically, the NSE Nifty has shown some signs of reversal, which implies that the market might drift lower in the near term. The 5800 level would act as a strong support. If the Nifty closes below this level we could see the index drop further.GLOBAL MARKETS 8-Apr 7-Apr % Change The Sensex ended down 140 points at 19,451, and the Nifty dropped 44 points at 5,842. The market breadthDow Jones Ind (USA) 12,380 12,409 (0.23) was negative. Of the total 3038 stocks traded on the BSE, 1947 stocks have declined while 1002 haveNasdaq Composite(USA) 2,780 2,796 (0.56) advanced.S&P 500 (USA) 1,328 1,334 (0.44)FTSE 100 (UK) 6,056 6,007 0.81 GLOBAL MARKETSDAX (Germany) 7,217 7,179 0.53 US stocks fell late on Friday as a spike in oil prices revived worries that inflation would derail theNikkei 225 (Tokyo) 9,768 9,591 1.85 recovery, jolting a market that had been treading water ahead of corporate earnings. The uncertainHang Seng (Hong Kong) 24,396 24,282 0.47 outcome of budget talks in Washington and the prospect of a US government shutdown as a midnightShanghai Comp (China) 3,030 3,008 0.74 deadline spurred investors to buy protection ahead of the weekend. The Dow Jones industrial average wasKOSPI (South Korea) 2,128 2,122 0.27 down 0.23%, at 12,380. The Standard & Poors 500 Index was down 0.4%, at 1,328.17. The NasdaqSTI (Singapore) 3,187 3,172 0.49 Composite Index was down 0.56% at 2,780.MSCI Emerging Market 462 458 0.87 Asian markets have opened trade on negative note as Nikkei is down by 0.33% at 9,736.Taiwan WeightedMSCI Frontier Market 576 574 0.37 Index is down by 0.37% at 8,869, Singapore Strait Times Index also opened up in red, down by 0.32% at 3,177, whereas Hang Seng is trading slightly positive at 24,436 up by 0.12%. SGXNifty is down by 15 pointsBOND MARKETS 8-Apr 7-Apr Change CORPORATE/ ECONOMY NEWS10yr G-Sec Yield 8.12 8.04 0.08 Continuing its gaining spree for the second straight session, courier and logistics firm Blue Dart Express1yr G-Sec Yield 7.55 7.55 0.00 rose by over 3% to hit a record high on BSE amid reports that its parent DHL Worldwide Express mayLIBOR (6m) 0.46 0.46 0.00 buyout the company and delist it from the bourses.LIBOR (1m) 0.24 0.24 0.00Interbank Call rate 5.9 5.9 (0.01) Indian-focused miner Vedanta Plc said it remained committed to sealing its long-delayed $9.6 billion acquisition of Cairn India, despite delays this week that could set it back at least another month. Tata Steel has not changed its position regarding its stake in Riversdale Mining, a senior official of the BSE Turnover Rs Cr(000) Sensex steelmaker said on Friday, as global miner Rio Tinto won control over Riversdale with a $4 billion offer. 19750 4.0 19700 3.5 Tata Steel Ltd, the Indian operations of the Tata Steel Group, reported a 4.4% growth in FY11 crude steel 19650 3.0 production to 6.85 million tonne, exceeding installed capacity at its Jamshedpur facility. 19600 2.5 19550 2.0 19500 Construction and power firm Gayatri Projects Ltd is looking at raising $250 million from private equity 19450 1.5 players for its power projects by June-August and may launch its rights issue by June, a top official said on 19400 1.0 Friday. 19350 0.5 19300 0.0 Auto major Mahindra & Mahindra has raised prices of its entire range of vehicles by up to Rs 15,000 from 4-Apr 5-Apr 6-Apr 7-Apr 8-Apr last week. Suzlon Energy said the total issue size of its foreign currency convertible bonds has been raised to $175 million from $150 million. NSE Turnover Rs Cr(000) Nifty 5920 16 ARSS Infrastructure Projects Ltd. won a work order from Madhya Pradesh Road Development 5900 14 Corporation Ltd for construction of a road on a build-operate-transfer basis. 12 5880 10 Private equity (PE) investment in infrastructure companies stood at $600 million worldwide in the 88.38 #DIV/0! 5860 8 January-March period, a decline of 73% vis-a-vis the previous quarter on account of a lack of long-term 5840 6 debt availability and refinancing issues. 4 5820 2 Global miner Rio Tinto has acquired majority control of Riversdale Mining after more than 50% of the 5800 0 targets shareholders accepted its $4 billion takeover offer. 4-Apr 5-Apr 6-Apr 7-Apr 8-Apr `