1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Friday, November 11, 2011
Domestic Markets Snapshot Views on markets today
Name of Index Nov 8 Nov 9 Change (%) • Indian markets fall in the second half of the trading
Sensex 17,569.53 17,362.10 -1.18%
session and closed on negative note on Wednesday as
bank stocks decline after ratings agency Moody's
CNX Nifty 5,289.35 5,221.05 -1.29%
lowered its outlook on the country's banking system,
BSE Mid-cap 6,311.51 6,232.69 -1.25% citing slowing growth and concerns about asset
BSE IT 5,769.14 5,793.17 0.42% quality. SBI fell the most in nearly six months, after a
BSE Banks 11,317.93 11,020.96 -2.62% rise in non-performing assets also hit investor
confidence. European worries grew again after
FII Activity (`Cr) clearing house LCH.Clearnet raised the margins that
Date Buy Sell Net traders must provide to trade Italian-government
8-Nov 1,702 1,199 503 bonds. The 10-year Italian-government-bond yield rose
14 basis points to 6.72% following the announcement
4-Nov 2,269 2,053 216
from LCH.Clearnet. After the announcement, the
Total Nov 9,413 8,388 1025
commodity prices globally came down. Gold prices
2011 YTD 536,395 534,846 1549 slumped 0.8% while crude oil came down 1.2%.
MF Activity (`Cr) Except IT and FMCG, all sectoral indices closed on
negative with bank, metal, real estate and oil & gas
Date Buy Sell Net stocks were major losers. Auto stocks were also hit,
8-Nov 240 287 -47 with Maruti Suzuki lost 4.2%, after Indian car sales
4-Nov 568 369 199 suffered their biggest fall in a decade. Car sales fell
Total Nov 2081 2220 -139 23.8% in October, on higher interest rates and vehicle
costs and labour unrest at Maruti.
2011 YTD 114,212 109,489 4723
• Market breadth was weak at ~0.53x as investors sold
Volume & Advances / Declines large cap stocks. FIIs bought equities worth `5.59bn
NSE BSE while domestic institutions sold equities of `5.31bn.
Trading Volume (`Cr) 11,024 2,576 • Asian stocks are mostly up today after some positive
Advances 364 991 signals out of debt-stricken Europe helped improve
Declines 1,124 1,879 sentiment. Japan’s Nikkei which is lower today is
exception amid weakness in financials.
Unchanged 48 104
• We expect a cautious but negative biased opening
Total 1,536 2,974
today in catch up trades after a holiday yesterday.
Global Markets Markets may remain volatile ahead of the weekly food
Index Latest Values Change (%) and fuel inflation and IIP numbers today.
DJIA 11,893.79 1.0% Key events today
NASDAQ 2,625.15 0.1% • Announcement of IIP data for the month of Sept. 2011
Nikkei * 8,487.50 -0.2% Economic and Corporate Developments
Hang Seng * 19,156.22 1.0% • Standard & Poor's has upgraded the Indian banking
* as of 8.25AM IST sector saying its domestic regulations are in line with
Currencies / Commodities Snapshot international standards.
Latest Previous • Credit ratings agency Moody’s, which lowered the
Quote Close outlook for Indian banking system, will hold
Indian Rupee per $ 50.01 49.99 consultations with finance ministry officials next week
as part of the exercise to review the country’s
Indian Rupee per € 68.10 68.02
sovereign rating.
NYMEX Crude Oil($/bbl) 97.86 97.78
• The Planning Commission said 4% growth of the
Gold ($/oz) 1,767.90 1,759.60
agriculture sector is required to keep a check on
Silver ($/oz) 34.03 34.11 inflationary pressure in the 12th Five-Year Plan,
beginning April, 2012.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • Jyothy Laboratories will aggressively push Henkel’s
Previous Current Change fabricare portfolio given the synergy quotient.
Company Name
Close (`) Price (`) (%)
• Tata Motors Jaguar Land Rover announced its plan
United Spirits 871.60 914.25 4.89
add 1,000 new recruits in the coming months to its
Ashok Leyland 27.35 28.30 3.47
Solihull plant where it produces around 150,000
HUL 380.45 391.30 2.85
Land Rovers a year.
Manap Gen Fin 62.40 63.80 2.24
Wipro 368.70 376.60 2.14 • The Directorate General of Civil Aviation has issued
showcause notices to carriers IndiGo and SpiceJet for
(BSE Mid-Cap) having allegedly cancelled flights without informing
Previous Current Change passengers.
Company Name
Close(`) Price(`) (%)
Jyothy Lab 134.90 150.85 11.82
• About 100 pilots have quit Kingfisher Airlines in the
last four months. Kingfisher has 650 pilots on its
Sujana Towers 23.70 25.25 6.54
rolls.
Shree Global Trd 190.55 200.05 4.99
Berger Paints 107.90 111.70 3.52 • The Petroleum Ministry has asked for a two-year
Ashok Leyland 27.35 28.30 3.47 extension of the tax holiday for refineries under the
Income-Tax (I-T) Act so that state-owned Indian Oil
TOP LOSERS Corp's (IOC's) much-delayed, `29,777Cr Paradip
refinery can avail the benefit.
(BSE A-Group)
US markets
Previous Current Change
Company Name
Close(`) Price(`) (%) US stocks recovered some of the prior session’s steep
SBI 1997.55 1862.50 -6.76 losses after the government reported jobless claims fell
Gujarat Gas 418.50 393.05 -6.08 to a seven-month low and worries about Europe’s
Indiabulls Fin 152.15 143.15 -5.92 ability to handle its debt crisis abated.
BPCL 603.20 569.80 -5.54 The Dow Jones Industrial Average ended up 112.92
Voltas 107.75 102.10 -5.24 points, or 1%, at 11,893.86. The S&P 500 Index rose
(BSE Mid-Cap) 10.6 points, or 0.9%, to 1,239.70. The Nasdaq
Composite Index closed up 3.5 points, or 0.1%, at
Previous Current Change
Company Name 2,625.15.
Close(`) Price(`) (%)
KSK Energy 98.70 79.00 -19.96
SKS Microfinance 192.15 175.55 -8.64
Gujarat Gas 418.50 393.05 -6.08
Indiabulls Fin 152.15 143.15 -5.92
Orchid Chem 184.25 173.55 -5.81
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