Indian markets fell slightly on Monday with financial stocks leading the losses, while fertilizer companies rose on news of potential government support. Overall market breadth was strong and Asian shares also declined due to concerns about the euro hovering near 2010 lows and slowing growth in the Indian economy. FIIs and domestic institutions were net sellers of equities on Monday.

1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Monday, January 9, 2012
Domestic Markets Snapshot Views on markets today
Name of Index Jan 6 Jan 7 Change (%) • Indian markets fell 0.12%, with financial stocks leading
Sensex 15,867.73 15,848.80 -0.12% the losses, in choppy trade during a special trading
CNX Nifty 4,754.10 4,746.90 -0.15% session on Saturday that saw low institutional
BSE Mid-cap 5,259.24 5,297.62 0.73% participation. The stock markets were open for one-
BSE IT 5,878.21 5,887.62 0.16% and-a-half hours on Saturday because the National
BSE Banks 9,736.04 9,704.22 -0.33% Stock Exchange was upgrading its futures and options
trading system infrastructure to improve processing
FII Activity (`Cr)
capability and handle increased activities. Fertiliser
Date Buy Sell Net stocks got a boost after news channel ET NOW cited
5-Jan 2,248 1,699 549 the junior minister for fertiliser as saying that the
4-Jan 1,840 1,583 257 government would unveil a plan to help urea
Total Jan 5,917 4,824 1093 manufacturers and boost investment in the urea
2012 YTD 5,917 4,824 1093 industry. State-run Rashtriya Chemicals & Fertilisers
MF Activity (`Cr) jumped 16% after the minister's comments. Chambal
Fertilisers and Tata Chemicals also rose 6.4% and 3%.
Date Buy Sell Net
Airlines rose after the Economic Times reported the
5-Jan 411 469 -58
civil aviation ministry is likely to drop its opposition to
4-Jan 395 527 -132
higher investment by foreign airlines in domestic
Total Jan 1531 1461 70 carriers, a move that would come as a lifeline to
2012 YTD 1,531 1,461 70 India's struggling airlines. The downward movement
Volume & Advances / Declines was mainly led by selling pressure in bank, FMCG, oil
NSE BSE & gas and auto stocks while real estate, consumer
durables, capital goods and power stocks witnessed
Trading Volume (Cr) 9.05 4.64
some buying activities which help the markets to
Turnover (`Cr) 1095 366
recover from day low. Engineering conglomerate
Advances 930 1,570
Jaiprakash Associates fell about 2.5% after the Indian
Declines 380 652
capital market regulator fined top executives,
Unchanged 52 84
including its chairman, for insider trading in the
Total 1,362 2,306
company's stocks in 2008.
Global Markets • Market breadth was however strong at ~2.41x as
Index Latest Values Change (%) investors bought large cap stocks Both FIIs and
DJIA 12,359.92 -0.4% domestic institutions sold equities worth `0.28bn and
NASDAQ 2,674.22 0.2% `0.07bn, respectively.
Nikkei * 8,390.35 -1.2% • Asian shares declined on Monday, as concerns about
Hang Seng * 18,471.79 -0.7% Europe rose after the euro hovered around 2010 lows.
* as of 8.25AM IST
• We expect a weak opening for the Indian markets,
Currencies / Commodities Snapshot following the cues from the Asian markets. Concerns
Latest Previous that Indian prime minister expressed about slow
Quote Close growth of Indian economy may dampen the
Indian Rupee per $ 52.72 52.73
sentiments.
Indian Rupee per € 66.91 67.08
Economic and Corporate Developments
NYMEX Crude Oil($/bbl) 101.03 101.56
Gold ($/oz) 1,611.00 1,616.10 • India's Prime Minister Dr. Manmohan Singh expressed
Silver ($/oz) 28.85 28.67 concerns about India's slowing economy which he
expects will rose by around 7%.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • National Thermal Power Corposration (NTPC) plans
Previous Current Change to foray into power distribution across the country in
Company Name
Close(`) Price(`) (%) a big way.
Rashtriya Chem 56.45 65.55 16.12
• Kingfisher Airlines is downsizing. Over the next few
MMTC 826.70 895.65 8.34
months, the airline may cut its fleet from the
Hindustan Copp 270.90 291.70 7.68 existing 64 planes as it struggles to stay afloat.
Engineers India 224.30 240.95 7.42
• AV Birla Group eyes Lafarge's S-Africa biz. Shree
Chambal Fert 79.00 84.05 6.39
Cement may join race; units in 3 more African
(BSE Mid-Cap) countries may be sold.
Previous Current Change • Apollo Pharmacy, the retail pharmacy chain under
Company Name
Close(`) Price(`) (%) Apollo Hospitals Enterprise Ltd, is looking to grow its
National Fert 67.65 81.15 19.96 private label business by expanding its product
Rashtriya Chem 56.45 65.55 16.12 portfolio with 35 more health and wellness products
HMT 37.10 41.60 12.13 soon. The company also plans to add generic
Gujarat Narm Val 78.30 84.35 7.73 medicine portfolio to the product basket in the near
Shoppers Stop 278.60 297.80 6.89 future.
• Jaiprakash Associates chairman Manoj Gaur will
TOP LOSERS move the Securities Appellate Tribunal (SAT)
(BSE A-Group) challenging market regulator Securities and
Exchange Board of India's (Sebi's) order, penalising
Previous Current Change
Company Name him and his family for insider trading.
Close(`) Price(`) (%)
Jaiprakash Asso 53.15 51.90 -2.35 US markets
CRISIL 862.70 851.10 -1.34 U.S. stocks mostly declined Friday, cutting into weekly
Motherson Sumi 137.70 136.00 -1.23 gains, as investors measured further evidence of an
Syndicate Bank 77.00 76.10 -1.17 improving labor market against Europe’s troubles,
EIH 86.10 85.30 -0.93 illustrated by the euro’s decline.
(BSE Mid-Cap) The Dow Jones Industrial Average closed down 55.78
points, or 0.5%, to 12,359.92. The S&P 500 Index fell
Previous Current Change
Company Name 3.25 points, or 0.3%, to 1,277.81. The Nasdaq
Close(`) Price(`) (%)
Shri Ganesh Spi 0.53 0.51 -3.77 Composite bucked the trend, closing up 4.36 points, or
Kwality Dairy 38.60 37.40 -3.11 0.2%, to 2,674.22.
Tube Invest 115.60 113.00 -2.25
Mindtree 429.00 421.00 -1.86
S Mobility 82.00 80.60 -1.71
Keynote Capitals Institutional Research (research@keynotecapitals.com) (+9122-
30266000)

3. K E Y N O T E
INSTIT UT IONAL R ES EAR C H
India and Global Economic Calendar
Countries / Monday Tuesday Wednesday Thursday
Regions 9/Jan 10/Jan 11/Jan 12/Jan
India Weekly Inflation
Data
US Consumer Credit Job Openings MBA mortgage Retail sales
data for November Applications
Wholesale Beige Book Initial jobless claims
Inventories
IBD/TIPP Economic
Optimism for Jan
Global Germany Trade UK BRC Retail Sales Japan Economic UK industrial
Balance (Nov) Monitor - All (YoY) Index production
(Dec)
Germany Industrial UK RICS Housing Germany's GDP data UK Manufacturing
Production (Nov) Price Balance (Dec) Production
UK trade balance ECB and BoE
data non EU Interest Rate
Decision
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