The key Indian stock indices closed slightly higher, recovering from a seven-day losing streak. The Sensex closed up 0.12% and the Nifty closed up 0.14%. Midcap and small cap shares continued declining with lack of buying support. Shares of Jet Airways and SpiceJet fell on concerns of increased competition from a new AirAsia India joint venture. GAIL shares fell on reports of delays to a gas pipeline project in Tamil Nadu. Overall, six sectors closed lower while seven closed higher. FIIs were net buyers of Indian stocks while domestic institutions were net sellers.

1. India Morning Note
Monday, March 28, 2013
Domestic Markets Snapshot Views on markets today
Name of Index Previous Close Current Value Change Key Benchmark indices just about managed to snap a seven-
day losing streak, as a 3%-decline in index heavyweight
Sensex 18,681.42 18,704.53 0.12%
Reliance Industries erased much of the gains. The BSE-
CNX Nifty 5,633.85 5,641.60 0.14% Sensex closed at 18704.53, up 23.11 points and the NSE Nifty
BSE Mid-cap 6,060.15 6,053.50 -0.11% at 5641.60, up 7.75 points. There was no respite for midcap
BSE IT 6,777.45 6,807.80 0.45% and small cap shares, which continued to slide in the absence
of any buying support.
BSE Banks 12,781.91 12,820.89 0.30%
FII Activity (`Cr) Shares in Jet Airways India fall nearly 3% and SpiceJet Ltd
shares drop 3.4% after India's Foreign Investment Promotion
Date Buy Sell Net Board (FIPB) approves AirAsia’s proposal to set up a joint
25-Mar 3,410 2,603 807 venture in India, raising concerns about increased competition.
22-Mar 3,134 2,930 204
Shares also fell after Airports Authority of India says it will form
a joint venture with local airlines and oil companies to supply jet
Total Mar 53255 44230 9025
fuel, expecting to reduce airlines' fuel costs by at least 10%.
2013 YTD 56665 46834 9832
GAIL (India) fell 3.49% to Rs 303 on BSE on media reports that
MF Activity (`Cr) Tamil Nadu government has blocked work on Kochi-Bengaluru
Date Buy Sell Net gas pipeline amid opposition from farmers in Tamil Nadu.
25-Mar 442 616 -174
Mahindra Satyam fell 1.39% to Rs 120.80 on BSE after the
22-Mar 555 544 11 company said its board has extended the proposed merger of
Total Mar 6,303 7,879 -1576 the company with Tech Mahindra by six months till 30
2013 YTD 6746 8495 -1750 September 2013. The announcement was made after market
hours on Monday, 25 March 2013. Shares of Tech Mahindra
Global Markets were down 1.97% at Rs 1,025.20.
Latest Values Change(%)
Index
Among the 13 sectoral indices, six sectors closed in negative
DJIA 14,538.83 0.63% while seven sectors closed in positive Top Gainers: BSE
Nasdaq 3,246.96 0.36% Consumer Durables up by 1.59%, BSE FMCG by 1.13% and
BSE Teck by 0.66%. Top Losers: BSE Oil & Gas down by
Nikkei 12,471.62 -0.60% 2.06%, BSE Realty by 1.95% and BSE Capital goods by
Hang Seng 22,311.08 0.27% 1.85%.
* as of 8.25AM IST Market breadth was negative at ~0.88 as investors sold large
cap stocks. On provisional basis, FII bought equity of Rs5.38bn
and domestic institutions sold equity of Rs1.24bn in cash
Currency Snapshot segment.
Future contract RBI Economic and Corporate Developments
Latest Previous
expire on Reference Capital market regulator SEBI today said new guidelines to
Quote Close curb insider trading and new rules for share buyback would be
27/03/13 Rate announced shortly. "We will shortly come out with new norms
Indian Rupee per $ 54.70 54.79 54.27
to check insider trading and new guidelines for share buyback,"
said SEBI chairman U K Sinha, adding that the existing insider
Indian Rupee per € 70.39 69.85 69.88 trading regulations were old.
Indian Rupee per £ 82.88 82.79 82.49 Fitch Ratings has taken rating actions on the three largest
Indian Rupee per ¥ 57.96 58.26 57.63
Cyprus banks following the agreement the Eurogroup reached
with the Cyprus authorities on Monday morning as a
precondition to provide 10 billion euros ($12.8 billion) in
* NSE Exchange financial assistance to Cyprus
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2. Buzzing Stocks
TOP GAINERS
Close on the heels of raising $1 billion, Index Heavyweight
(BSE A-Group) Bharti Airtel said it has garnered another $500 million
through a bond issue mostly to pay off high interest loans
Previous Current Change and fund capex needs. The company, had on March 11
Company Name
Close Price (%) raised $1 billion through a 10-year bond issue.
AstraZeneca 620.50 641.45 3.38% Rural Electrification Corporation jumped 6.64% to Rs 208.70
Rural Electrific
Pharma I 195.70 202.10 3.27% on BSE on bargain hunting after the stock tumbled 17.77%
Satyam Computer 122.50 126.35 3.14% in the preceding twelve trading sessions to Rs 195.70 on 25
Bharti Airtel 288.45 297.05 2.98% March 2013 from a recent high of Rs 238 on 7 March 2013.
ING Vysya Bank 534.60 550.35 2.95%
Sintex Industries gained 2.45% to Rs 43.90 on BSE on
(BSE Mid-Cap) bargain hunting after sliding 26.18% in prior eight trading
sessions.
Previous Current Change
Company Name
Close Price (%) TCS rose 0.88% to Rs 1,558.70 on BSE after the company
Salora Intl 13.90 16.68 20.00%
said it has bagged a contract from Southern Water to
implement a customer services and revenue transformation
Shardul Sec 28.75 34.50 20.00%
programme for the latter.
KM Sugar 1.20 1.44 20.00%
Innovative Tech 16.32 19.55 19.79% IRB Infrastructure Developers rose 1.75% to Rs 113.45 on
Vindhya Tele 155.30 185.95 19.74% BSE after the company said its wholly-owned unit executed
concession agreement with the National Highways Authority
TOP LOSERS of India for a road project.
(BSE A-Group)
Previous Current Change
Company Name
Close Price (%)
Bil Energy Systems 74.00 7.05 -90.47%
L
SAL Steel 2.46 2.05 -16.67%
Sangam Advisors 24.20 20.25 -16.32%
Advik Laboratori 4.24 3.59 -15.33%
Impex Ferro Tech 3.65 3.12 -14.52%
Ltd
(BSE Mid-Cap)
Previous Current Change
Company Name
Close Price (%)
SAL Steel 2.46 2.05 -16.67%
Advik Lab 4.24 3.59 -15.33%
Impex Ferro 3.65 3.12 -14.52%
Sowbhagya Media 11.08 9.50 -14.26%
Ecoboard Inds 3.69 3.17 -14.09%
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