Keynote capitals india morning note february 1-'12
1. K E Y N O T E
INSTITUTIONAL RESEARCH
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Domestic Markets Snapshot
Name of Index Jan 30 Jan 31 Change (%)
Sensex 16,863.30 17,193.55 1.96%
CNX Nifty 5,087.30 5,199.25 2.20%
BSE Mid-cap 5,756.98 5,871.70 1.99%
BSE IT 5,689.03 5,777.71 1.56%
BSE Banks 10,969.09 11,390.70 3.84%
FII Activity (`Cr)
Date Buy Sell Net
30-Jan 2,578 2,657 -80
27-Jan 4,096 2,732 1364
Total Jan 49,489 39,045 10444
2012 YTD 49,489 39,045 10444
MF Activity (`Cr)
Date Buy Sell Net
30-Jan 378 709 -331
27-Jan 545 827 -281
Total Jan 9,649 11,547 -1898
2012 YTD 9,649 11,547 -1898
Volume & Advances / Declines
NSE BSE
Trading Volume (Cr) 75.69 26.28
Turnover (`Cr) 13,696 2,807
Advances 1,047 1,804
Declines 438 1,034
Unchanged 67 108
Total 1,552 2,946
Global Markets
Index Latest Values Change (%)
DJIA 12,632.91 -0.16%
NASDAQ 2,813.84 0.07%
Nikkei * 8,826.79 0.28%
Hang Seng * 20,404.24 0.07%
* as of 8.25AM IST
Currencies / Commodities Snapshot
Latest
Quote
Previous
Close
Indian Rupee per $ 49.53 49.70
Indian Rupee per € 64.71 64.83
NYMEX Crude Oil($/bbl) 98.57 98.48
Gold ($/oz) 1,738.30 1,737.80
Silver ($/oz) 33.21 33.23
Views on markets today
• Indian markets rose sharply yesterday to recover
almost all the losses made previous day, as investors
cheer for the efforts of European leaders in resolving
the debt issue and stronger than expected results of
ICICI Bank. Few other developments also triggered the
rally which include opening of the buyback offer of
Reliance Industries, government decision over fund
infusion in State Bank of India and RBI'S assurance
over monetary policy easing by continuing open
market operations. European Union leaders endorsed
a treaty aimed at strengthening accountability and
keeping a closer eye on member nations' efforts to
rein in overspending and resolve the region's debt
crisis. Twenty-five member states, including 17 euro-
zone countries, are expected to sign the fiscal
compact when the leaders next gather in March. The
markets rose 11.3% in January, best January rise for
the markets since a 19.4% rise in 1994. Foreign funds
have been net buyers of about $2bn of Indian shares
in January, after net outflows of about $500mn last
year. All sectoral indices closed on positive note with
bank, real estate, auto and metal stocks were major
gainers. SBI gained ~3.5% cheering the federal
government move to infuse $1.6bn through a share
purchase to shore up the lender's capital base. ICICI
Bank rose to their highest close in three months, after
the lender widely beat market expectations with a
20% rise in its fiscal third-quarter profit. Market
breadth was strong at ~1.74x as investors bought
large cap stocks. On provisional basis, FIIs bought
equities worth `6.24bn while domestic institutions sold
equities of `2.41bn.
• Asian stocks moderately up today, as data showing a
pick-up in Chinese manufacturing work to offset some
disappointing earnings and weak global economic
numbers.
• We expect a flat opening for the Indian markets today,
as Asian stocks point out the directionless trades.
Further, poor fiscal deficit numbers (fiscal deficit at
96% of budgeted till December 2011) may resists
markets to move higher.
Economic and Corporate Developments
• The Centre’s fiscal deficit has already touched 92% of
the Budget estimate. The deficit, the gap between the
government's expenditure and revenue, more than
doubled to `3.81 lakh crore in the first nine months of
2011-12 from `1.71 lakh crore in the corresponding
period of the previous financial year.
India Morning Note
Wednesday, February 1, 2012
2. K E Y N O T E
INSTITUTIONAL RESEARCH
Keynote Capitals Institutional Research (research@keynotecapitals.net) (+9122-30266000)
TOP GAINERS
(BSE A-Group)
Company Name
Previous
Close(`)
Current
Price(`)
Change
(%)
TATAGLOBAL 97.95 107.75 10.01
Havells India 443.50 480.00 8.23
Bata India 640.50 687.55 7.35
Aurobindo Phar 107.20 114.80 7.09
IB Real Est 66.50 71.05 6.84
(BSE Mid-Cap)
Company Name
Previous
Close(`)
Current
Price(`)
Change
(%)
TATAGLOBAL 97.95 107.75 10.01
United Bank 65.35 71.50 9.41
Delta Corp 71.10 77.05 8.37
Havells India 443.50 480.00 8.23
Bata India 640.50 687.55 7.35
TOP LOSERS
(BSE A-Group)
Company Name
Previous
Close(`)
Current
Price(`)
Change
(%)
Glenmark Pharm 312.15 295.80 -5.24
Coal India 335.70 325.65 -2.99
Essar Oil 62.60 61.40 -1.92
JSW ENERGY 54.85 53.95 -1.64
PNB 955.90 940.30 -1.63
(BSE Mid-Cap)
Company Name
Previous
Close(`)
Current
Price(`)
Change
(%)
Glenmark Pharm 312.15 295.80 -5.24
Shree Global Trd 204.00 193.85 -4.98
VAARAD 51.65 49.10 -4.94
3M India 3777.15 3591.05 -4.93
FDC 85.65 81.95 -4.32
Buzzing Stocks
• Taj GVK Hotels and Resorts is looking at opening
hotels in Tier-II and Tier-III cities in Andhra Pradesh.
The company is also looking at opening three-four
Ginger hotels in Hyderabad.
• Essar Oil Limited has received a demand notice from
the tax authorities of the Gujarat government, for
repayment of sales tax deferment benefits utilised
by the company, to the tune of `6,300Cr with
payable interest.
• Infosys signed an MoU with the Madhya Pradesh
government for investing `600Cr in its proposed unit
in Indore, which will generate over 13,000 jobs.
• KEC International, which is engaged in power,
railways and water projects, expects an order book
of `9,500Cr by the end of March, Chief Executive
Ramesh Chandak told Reuters.
• State Bank of India (SBI) is looking to expand its
presence in the Gulf region, a senior bank official
said.
US markets
U.S. stocks on Tuesday closed best January in more
than a decade, with the indexes mostly slipping after
U.S. economic data failed to live up to its billing.
The Dow Jones Industrial Average fell 20.81 points, or
0.2%, to 12,632.91 on Tuesday. The S&P 500 declined
0.6 point, or 0.1%, to 1,312.41. The Nasdaq Composite
rose nearly 2 points, or 0.1%, to 2,813.84.
3. K E Y N O T E
INSTITUTIONAL RESEARCH
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India and Global Economic Calendar
Countries / Wednesday Thursday Friday Monday
Regions 1/Feb 2/Feb 3/Feb 6/Feb
India Trade deficit Weekly Inflation Data Forex Reserves Data
Weekly Supplement
of RBI
US ISM Manufacturing
and ISM prices paid
data
Continuing & Initial
Jobless Claims
Average Hourly
Earnings (YoY & MoM)
Construction
Spending
Average Weekly
Hours (Jan)
Oil Stock change data Unemployment Rate
(Jan)
ISM Non-
Manufacturing (Jan) &
Factory Orders (MoM)
Nonfarm Payrolls
Global UK nationawide
housing data
UK Purchasing
Manager's Index
construction
UK Halifax House
Prices (3M/ MoM/ YoY)
Germany Industrial
Production data
Germany, Eurozone
and UK PMI Index
data
Eurozone producer
price Index
UK Purchasing
Manager Index
Services (Jan)
Euro Consumer price
index
Euro Zone Purchasing
Manager Index
Services (Jan)
Euro Zone Retail
Sales (YoY & MoM)