1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Tuesday, November 22, 2011
Domestic Markets Snapshot Views on markets today
Name of Index Nov 18 Nov 21 Change (%) • Indian markets continued losing streak for eight
Sensex 16,371.51 15,946.10 -2.60%
straight days, down ~2.6 percent yesterday, to their
lowest close in more than six weeks as global markets
CNX Nifty 4,905.80 4,778.35 -2.60%
tumbled on as negative news flows continued to hurt
BSE Mid-cap 5,716.45 5,610.31 -1.86% investor sentiments. Asian, European and US stock
BSE IT 5,614.13 5,478.33 -2.42% futures, all registered steep losses, after investors
BSE Banks 10,161.29 9,831.83 -3.24% worried that the crisis is not limited to Eurozone and
may spread to US and China. News reports that the US
FII Activity (`Cr) congressional committee assigned to draft a plan for
Date Buy Sell Net cutting $1.2tn from the nation's deficit over 10 years
18-Nov 1,798 2,554 -756 is expected to announce that it has failed along with
Moody's warned France that it may change its "stable"
17-Nov 1,933 2,094 -161
outlook on the rating to "negative" in the coming
Total Nov 24,461 24,342 120
months and sharply weaker rupee led the global
2011 YTD 551,443 550,800 644 market fall. All sectoral indices closed on negative with
MF Activity (`Cr) metal, bank, real estate and power stocks were major
losers. Metal stocks hurt most on sell as commodity
Date Buy Sell Net prices all over the world fall sharply. Gold and crude
18-Nov 381 374 7 oil were down 1% and 1.9%, respectively. India's
17-Nov 441 344 98 miners and metal companies followed the weakness in
Total Nov 5020 5488 -468 the global mining stocks. Bharti Airtel fell 2.3 percent
after the federal police searched its office along with
2011 YTD 117,151 112,756 4394
that of Vodafone's Indian unit over the weekend, seek
Volume & Advances / Declines details on spectrum allocation by the government to
operators between 2001 and 2002. Rural
NSE BSE
Electrification Corp, a lender to TNEB, gained ~2% on
Trading Volume (`Cr) 9,097 2,079
media reports that Tamil Nadu Electricity Board
Advances 356 786 (TNEB) has sought the power regulator's approval to
Declines 1,138 1,974 increase tariffs by 38%.
Unchanged 45 135 • Market breadth was weak at ~0.4x as investors sold
Total 1,539 2,895 large cap stocks. FIIs sold equities worth `7.43bn while
domestic institutions bought equities of `5.95bn.
Global Markets
• Asian stocks traded off their worst levels Tuesday, as
Index Latest Values Change (%) investors appeared to temporarily look past the debt
DJIA 11,547.31 -2.1% worries that have recently gripped markets to pick up
NASDAQ 2,523.14 -1.9% shares in selected firms.
Nikkei * 8,337.52 -0.1% • We expect a weak start for the Indian markets
Hang Seng * 18,228.88 0.0% tracking the global cues. However, a bounce back is
possible as Asian markets are off their day's lows.
* as of 8.25AM IST
Currencies / Commodities Snapshot Economic and Corporate Developments
Latest Previous • According to research firm Gartner, Indian companies
Quote Close are expected to continue investing in IT infrastructure
Indian Rupee per $ 52.07 52.07 despite global economic challenges and the country's
IT spending is projected to grow 9.1% to $79.8bn in
Indian Rupee per € 70.28 70.24
2012 against an IT spending of $73.1bn in 2011.
NYMEX Crude Oil($/bbl) 97.29 96.92
• Amid sustained fall in rupee's value, the Plan panel
Gold ($/oz) 1,675.40 1,678.30
attributed the decline to volatility in the global
Silver ($/oz) 31.53 31.12 currency market, but expressed the hope that the
Indian currency would stabilise soon.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • Suzlon Energy announced its fourth consecutive
Previous Current Change order from GAIL - a gas utility company, and the
Company Name
Close (`) Price (`) (%) Navratna public sector undertakings (PSU) of the
Amtek Auto 95.30 101.30 6.30 Government of India. The order consists of 11 units
Dabur India 96.80 99.10 2.38 of Suzlon's S88 - 2.1 MW wind turbines, to be
ADANI POWER 74.20 75.75 2.09 commissioned in the states of Tamil Nadu and
REC 178.05 181.65 2.02 Karnataka by the end of the financial year 2011-12.
Apollo Hosp 533.55 543.90 1.94
• Atlanta received in principle approval from the state
(BSE Mid-Cap) government to set up a $2bn (`10,412Cr) theme
Previous Current Change park in Surat.
Company Name
Close(`) Price(`) (%) • Infosys plans to expand in Northern region. The
Edelweiss Capital 23.75 26.25 10.53
company hired 5700 employees at its Chandigarh
Amtek Auto 95.30 101.30 6.30 facility.
MVL 19.70 20.60 4.57
• Infosys said further deterioration of economic
Peninsula Land 35.10 36.55 4.13
conditions in US and Europe could hit the domestic
Nava Bharat Ven 180.00 186.00 3.33
IT sector, though at present the impact was not as
bad as it was in 2008.
TOP LOSERS
• Reliance Broadcast Network tied up with the US-
(BSE A-Group)
based wrestling show producer Lucha Libre for
Previous Current Change content sharing and is eyeing more partners for such
Company Name
Close(`) Price(`) (%)
tie-ups for its TV channels in India.
Pantaloon Retl 198.25 173.70 -12.38
Suzlon Energy 23.80 21.40 -10.08 US markets
Rashtriya Chem 60.50 55.20 -8.76 U.S. stocks sank Monday, pulling the Dow Jones
Educomp Sol 188.70 173.95 -7.82 Industrial Average into negative territory for 2011, as
IFCI 23.25 21.55 -7.31 the lack of progress by American lawmakers in
reaching a deficit-cutting agreement magnified worry
(BSE Mid-Cap)
that Europe’s debt crisis would spur a global downturn.
Previous Current Change
Company Name After falling as much as 342 points, the Dow Jones
Close(`) Price(`) (%)
VIP Inds 134.60 117.05 -13.04 Industrial Average finished at 11,547.31, losing 248.85
Pantaloon Retl 198.25 173.70 -12.38
points, or 2.1%. The S&P 500 Index fell 22.67 points, or
1.9%, to 1,192.98. The Nasdaq Composite Index
Delta Corp 82.55 73.80 -10.60
declined 49.36 points, or 1.9%, to 2,523.14.
Aban Offshore 394.70 355.10 -10.03
Kwality Dairy 90.50 81.50 -9.94
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