- Indian markets closed higher yesterday as concerns over the Eurozone crisis eased following reports of a larger bailout package. Gains in IT, capital goods and FMCG stocks contributed to the increase. - Asian markets are lower today ahead of the EU summit due to doubts over Germany's support for new proposals. The Indian markets may open weak in line with Asian peers. - Weekly inflation data scheduled for release today could increase volatility in the Indian markets.

1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Thursday, December 8, 2011
Domestic Markets Snapshot Views on markets today
• Indian markets closed on positive note yesterday as
Name of Index Dec 5 Dec 7 Change (%)
worries over Eurozone seem to be faded after a media
Sensex 16,805.33 16,877.06 0.43%
report said Eurozone officials are set to agree on a
CNX Nifty 5,039.15 5,062.60 0.47% much bigger bailout package for the region. Investors
BSE Mid-cap 5,760.54 5,771.80 0.20% also became positive on US Treasury Secretary
BSE IT 5,727.11 5,808.75 1.43% Timothy F. Geithner's support to French-German Plan
BSE Banks 10,552.04 10,552.51 0.00% for tighter European Union. Investors also cheered an
end to the parliament logjam, after government
FII Activity (`Cr) suspended its move to open the country's $450bn
Date Buy Sell Net supermarket sector to foreign firms. The upward
5-Dec 1,513 1,301 212 movement was mainly led by gain in IT, capital goods,
2-Dec 2,574 1,862 712 real estate and FMCG stocks while pharma, consumer
durable and power stocks witnessed some selling
Total Dec 6,523 4,694 1829
pressure. Export-driven software firms, which count
2011 YTD 574,967 576,083 -1116
Europe as their second-biggest market, gained on
MF Activity (`Cr) hopes that a stable euro zone will aid deal flow. NTPC
closed 3.2% lower, as Coal India said that it lowered
Date Buy Sell Net
the coal production target for FY12. NTPC is a major
5-Dec 271 186 85
consumer of coal from Coal India. Indiabulls Real
2-Dec 548 386 163 Estate fell 9.8%, a day before the date for determining
Total Dec 1370 1365 5 its shareholders' entitlement in Indiabulls
2011 YTD 123,595 118,144 5452 Infrastructure and Power (IIPL), which was created
following the spin-off of the real estate firm's power
Volume & Advances / Declines
unit. While Future Capital Holdings rose 7.1% after a
NSE BSE newspaper report said that the Deccan Chronicle was
Trading Volume (`Cr) 10,564 3,093 acquiring a controlling stake from Pantaloon Retail in
Advances 778 1,451 the group's financial services firm for `6-7bn.
Declines 692 1,362 • Market breadth was however flat at ~1.07x as
Unchanged 71 113
investors bought large cap stocks. FIIs bought equities
worth `1.35bn while domestic institutions sold equities
Total 1,541 2,926
of `1.91bn.
Global Markets • Asian markets are down today, as investor sentiments
Index Latest Values Change (%) became cautious ahead of the European Union summit
DJIA 12,196.37 0.4%
as news report suggests that Germany may oppose
new proposals to survive European nations.
NASDAQ 2,649.21 0.0%
• Indian markets may open weak today in line with the
Nikkei * 8,629.15 -1.1%
Asian markets. Further weekly inflation that is slated
Hang Seng * 19,028.17 -1.1%
to be announced today may aggravate the volatility.
* as of 8.25AM IST Economic and Corporate Developments
Currencies / Commodities Snapshot • Textiles Ministry held a meeting with the Indian Banks
Latest Previous Association to discuss various issues, including
Quote Close possibility of debt restructuring of the distressed
Indian Rupee per $ 51.72 51.72 textiles sector.
Indian Rupee per € 69.30 69.37 • The Telecom Disputes Settlement & Appellate Tribunal
NYMEX Crude Oil($/bbl) 100.42 100.49 (TDSAT) asked Department of Telecommunications
(DoT) to reply to a contempt petition for not complying
Gold ($/oz) 1,742.00 1,740.90
with its order to decide on the merger of licences of
Silver ($/oz) 32.49 32.57
Allianz Infratech with Etisalat DB Telecom, previously
known as Swan Telecom.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • Petronet LNG will soon finalise an agreement for
Previous Current Change sourcing liquefied natural gas from Russia under a
Company Name pact with energy giant Gazprom.
Close (`) Price (`) (%)
Indiabulls Fin 136.05 152.95 12.42 • IDBI Bank has struck a deal with ICICI Bank to
United Brew 403.85 434.25 7.53 provide credit protection to the country's largest
Pantaloon Retl 186.40 198.15 6.30 private lender for bonds worth `10Cr. IDBI Bank
CESC 249.10 260.85 4.72 would be the first public sector bank to underwrite a
JPPOWER 37.30 39.05 4.69 credit default swap (CDS) transaction in the
domestic market to manage credit risks linked with
(BSE Mid-Cap)
corporate bonds. ICICI Bank has taken CDS cover for
Previous Current Change two portfolios of Regional Electric Corporation and
Company Name
Close(`) Price(`) (%)
Indian Railway Finance Corporation.
Dewan Housing 189.90 217.75 14.67
Indiabulls Fin 136.05 152.95 12.42 • SKS Microfinance decided to cap its return on assets
from micro lending business at three per cent, a
Glodyne Tech 230.95 251.35 8.83
move aimed at regaining the lost confidence of
Anant Raj Inds 45.85 49.05 6.98
regulators and borrowers in the sector.
Pantaloon Retl 186.40 198.15 6.30
• Multi-modal logistics provider Container Corporation
TOP LOSERS of India (Concor) is planning to set up 13 multi-
modal logistics parks across the country in the next
(BSE A-Group)
five years.
Previous Current Change
Company Name • ONGC Videsh Ltd, the foreign arm of state-owned Oil
Close(`) Price(`) (%)
and Natural Gas Corp (ONGC), once again expressed
IB Real Est 62.95 56.55 -10.17
interest in taking at least 20% stake in the Sakhalin-
Idea Cellular 97.25 91.55 -5.86
3 oil and gas fields and importing liquefied natural
Gujarat Fluo 430.85 412.20 -4.33
gas from Russia. OVL has been since 2006 raising
Petronet LNG 167.10 160.15 -4.16
the issue of stake in the Far East Russian oil and gas
Lupin 469.95 451.00 -4.03 fields but Moscow is yet to respond favourably.
(BSE Mid-Cap) • Wipro is planning to invest `800Cr in a project that
Previous Current Change will provide employment to 15,000 people.
Company Name
Close(`) Price(`) (%) • Sugar producer Balrampur Chini Mills today said the
Rallis India 154.15 143.80 -6.71 Luxembourg Stock Exchange (LSE) has delisted the
Sujana Towers 9.23 8.77 -4.98 company's Global Depository Receipts (GDRs) with
Kwality Dairy 48.95 46.55 -4.90 effect from December 5.
Shri Ganesh Spi 1.46 1.39 -4.79 • Sesa Goa, owned by miner Vedanta Resources, said
Fresenius Kabi 103.25 98.55 -4.55 on Wednesday it had bought an additional 1.5%
stake in Cairn India at an average price of `325 a
share through a stock market deal.
US markets
U.S. stocks on Wednesday closed with moderate
upside, as investors kept caution ahead of a European
Union summit.
The Dow Jones Industrial Average gained 46.24 points,
or 0.4%, to end at 12,196.37. The S&P 500 Index added
2.54 points, or 0.2%, to 1,261.01, while the Nasdaq
Composite Index declined fractionally to 2,649.21.
Keynote Capitals Institutional Research (research@keynoteindia.net) (+9122-30266000)

3. K E Y N O T E
INSTIT UT IONAL R ES EAR C H
India and Global Economic Calendar
Countries / Thursday Friday Monday Wednesday
Regions Dec. 8 Dec. 9 Dec. 12 Dec. 14
Weekly Inflation
India Forex Reserves Data IIP Data Monthly Inflation
Data
Weekly Supplement
of RBI
US Jobless Claims Data International Trade
Reuters/Michigan
Wholesale
Consumer Sentiment
Inventories
Index
UK Bank of England Germany Trade Japan Industrial
Global Interest Rate Balance & Consumer Production data and
Decision Price Manufacturing Index
UK Unemployment
Canada Housing UK Producer Price
Rate and Average
Starts Input and Output
Earning growth rate
UK Trade Balance &
Japan Gross
Goods Trade
Domestic Product
Balance
Canada International
Japan Eco Watchers Merchandise Trade
Survey & Labour
Productivity
Australia
Unemployment rate
European interest
rate decision
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