Indian markets rose on Monday led by gains in software exporters and higher European markets. The BSE Sensex rose 0.76% while the Nifty gained 0.75%. Market breadth was lower with advances outnumbering declines. FIIs were net buyers of stocks worth Rs. 4.79 billion while domestic institutions were net sellers of Rs. 2.46 billion. Asian markets were mostly higher tracking gains on the Wall Street overnight.

1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Wednesday, May 02, 2012
Domestic Markets Snapshot Views on markets today
Name of Index Apr 27 Apr 30 Change (%) • I Indian markets rose to an almost 1-1/2 week high on
Sensex 17,187.34 17,318.81 0.76% Monday, led by gains in software services exporters as
CNX Nifty 5,209.00 5,248.15 0.75% valuations were seen more attractive after recent falls
and on hopes for more monetary easing in the key
BSE Mid-cap 6,272.33 6,315.85 0.69%
U.S. market. Higher European markets also help the
BSE IT 5,572.38 5,704.31 2.37%
markets sentiments amongst the investors. However,
BSE Banks 11,759.88 11,828.63 0.58% volumes were muted ahead of a market holiday on
FII Activity (`Cr) Tuesday, while sentiment remains cautious, given the
country's economic and fiscal challenges and
Date Buy Sell Net
uncertainty about recent government proposals
27-Apr 2,084 2,415 -331
regarding foreign taxation. Except consumer durable
26-Apr 3,352 3,548 -196 and pharma, all sectoral indices closed on positive
Total Apr 34,032 36,439 -2405 note with IT, oil & gas, real estate and metal stocks
2012 YTD 234,266 191,344 42921 were major gainers. Godrej Consumer Products rose
MF Activity (`Cr) 2.50% after the company announced that its
consolidated net profit rose 36% to `193Cr on 31%
Date Buy Sell Net rise in net sales to `1323Cr in Q4 March 2012 over Q4
26-Apr 725 876 -152 March 2011. India's biggest real estate developer DLF
25-Apr 448 558 -110 rose 2.6% after Goldman Sachs upgraded its rating on
Total Apr 8,237 8,892 -654 the stock to "buy" from "neutral", citing optimism
2012 YTD 44,182 50,410 -6228 about profits on the back of improvements in
commercial and residential property. Bhel fell 1.94%
Volume & Advances / Declines on reports Rajasthan state government has scrapped
NSE BSE tenders worth `12000Cr that were bagged by the
Trading Volume (Cr) 53.94 16.38 company without specifying any particular reason.
Turnover (`Cr) 8,861 1,679 • Maruti Suzuki India declined 1.95% after the company
Advances 852 1,174 said that its net profit fell 3.03% to `639.84Cr on
Declines 622 1,091 18.79% rise in total income to `12023.86Cr in Q4
Unchanged 70 593 March 2012 over Q4 March 2011. While adverse
currency movements made a significant impact during
Total 1,544 2,858
Q4, the company was able to largely offset it through
Global Markets localization and internal cost control.
Index Latest Values Change (%) • Market breadth was lower at ~1.08x as investors
DJIA 13,279.32 0.50% bought large cap stocks. On provisional basis, FIIs
NASDAQ 3,050.44 0.13% bought equity of `4.79bn while domestic institutions
Nikkei * 9,351.46 0.01% sold equity of `2.46bn in cash segment.
Hang Seng * 21,260.94 0.79% • Asian markets mostly up today, though volatile
* as of 8.25AM IST tracking the cues from the US markets overnight.
Weak yen helped Japanese markets to stay in positive
Currencies / Commodities Snapshot
territory while China's PMI data helped the Hang
Latest Previous
Seng's sharp rise.
Quote Close
Indian Rupee per $ 52.73 52.63 Economic and Corporate Developments
Indian Rupee per € 69.72 69.66 • The European Union said it was expecting that
NYMEX Crude Oil($/bbl) 105.93 106.16 negotiations for a comprehensive free trade pact with
Gold ($/oz) 1,659.20 1,661.70 India would be completed by year-end though issues
Silver ($/oz) 30.90 30.88 like duty concession on wines and automobiles were
yet to be resolved.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • HCC bagged a contract worth `800Cr from the
Previous Current Change National Highways Authority of India for the six-
Company Name
Close(`) Price(`) (%) laning project of Vadodara-Surat section of NH-8.
Pantaloon Retl 171.85 187.75 9.25
• The ongoing campus recruitment at Mysore’s
Reliance Power 100.60 106.85 6.21
National Institute of Engineering (NIE), if taken as a
Jain Irrigation 82.85 87.90 6.10 cue, indicates that IT companies are perhaps
Pidilite Inds 172.50 180.90 4.87 beginning to hire again. NIE has recorded an all-time
Bank of India 337.35 352.85 4.59 high placement during the recent campus
(BSE Mid-Cap) recruitment season 2011-12. The recruitment is
likely to reach 100% as it is still in progress.
Previous Current Change
Company Name • Gujarat State Petronet Ltd (GSPL) and three public
Close(`) Price(`) (%)
Pantaloon Retl 171.85 187.75 9.25 sector oil companies — Indian Oil Corporation Ltd
BASF India 577.25 617.80 7.02 (IOCL), Bharat Petroleum Corporation Ltd (BPCL) and
Jain Irrigation 82.85 87.90 6.10 Hindustan Petroleum Corporation Ltd (HPCL) — have
TVS Motor 39.05 41.00 4.99 entered into joint venture agreements for setting up
Bank of Maha 51.20 53.75 4.98
three cross-country natural gas transmission
pipelines.
TOP LOSERS • Madhucon Projects Limited (MPL) won a tender for a
mine-mouth, coal-fired steam power plant of 300 Mw
(BSE A-Group)
(2X 150Mw) near its existing coal mine at Dawas
Previous Current Change village in South Sumatra, Indonesia.
Company Name
Close(`) Price(`) (%)
Oriental Bank 241.60 230.25 -4.70 US markets
Hindustan Copp 290.85 280.65 -3.51 U.S. stocks advanced Tuesday, propelling the Dow
GMR Infra 27.70 26.75 -3.43 Jones Industrial Average to its highest close since late
Engineers India 260.30 251.95 -3.21 2007, after a report indicated U.S. manufacturing
Neyveli Lignite 84.80 82.30 -2.95 expanded in April, offsetting concern about the
economic recovery.
(BSE Mid-Cap)
The Dow industrials finished at 13,279.32, up 65.69
Previous Current Change points, or 0.5%. The S&P 500 climbed 7.91 points, or
Company Name
Close(`) Price(`) (%)
0.6%, to 1,405.82. The Nasdaq Composite rose 4.08
Shree Global Trd 101.80 96.75 -4.96
points, or 0.1%, to 3,050.44.
HATHWAY CAB 161.40 155.50 -3.66
MCX 1135.70 1094.75 -3.61
HMT 43.25 41.80 -3.35
S Mobility 67.90 66.00 -2.80
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3. K E Y N O T E
INSTIT UT IONAL R ES EAR C H
India and Global Economic Calendar
Countries / Wednesday Thursday Friday Monday
Regions 2/May 3/May 4/May 7/May
India Forex Reserves Data
Weekly Supplement
of RBI
US Factory order data Continuing Jobless Average Hourly Consumer Credit
Claims Earnings (YoY & Change
MoM) & Average
Weekly Hours
The ISM Non- Nonfarm Payrolls
Manufacturing Index
Unemployment Rate
Global Germany PMI UK The Nationwide
manufacturing & Housing Prices
Service index and
unemployment rate
data
UK consumer credit Eurozone The
& money supply and Producer Price Index
construction PMI & interest rate
decision
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