1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Tuesday, October 4, 2011
Domestic Markets Snapshot Views on markets today
Name of Index Sept 30 Oct 3 Change (%) • Indian markets continued its downward trends and
Sensex 16,453.76 16,151.45 -1.84% closed on negative note yesterday mirroring global
CNX Nifty 4,943.25 4,849.50 -1.90% markets as investors became wary after increase in
BSE Mid-cap 6,129.59 6,013.42 -1.90%
concerns of a Greek sovereign default and worries
over China's financial health. European markets also
BSE IT 5,275.23 5,195.75 -1.51%
opened lower on weekend reports that Greece will
BSE Banks 10,850.73 10,544.72 -2.82%
miss this year's deficit targets. The Greek government
FII Activity (`Cr) said on Sunday that it won't meet its deficit target this
Date Buy Sell Net year, while it pushed ahead with a plan to cut
29-Sep 6194 6504 -310
thousands of public-sector jobs as demanded by
European lenders, according to reports. The markets
28-Sep 2745 2493 252
also reacted to the weak domestic manufacturing
Total Sept 50952 52098 -1146
data. The HSBC Markit India Manufacturing PMI fell
2011 YTD 483658 485603 -1954
more than two points to 50.4 September 2011 from
MF Activity (`Cr) 52.6 in the last month, which is very close to the 50
Date Buy Sell Net mark which divides growth and contraction. It was the
weakest spot since March 2009. All sectoral indices
28-Sep 319 476 -157
closed on negative note with real estate, metal, bank
27-Sep 495 301 194
and capital goods stocks were major losers. Auto
Total Sept 8393 9170 -777
stocks were mixed after good vehicle sales in
2011 YTD 101567 96342 5497 September 2011 while metal shares fell across the
Volume & Advances / Declines board as global commodity prices fell on global
economic worries. Reliance Power gained as much as
NSE BSE
1.7% after the company received approval for carbon
Trading Volume (`Cr) 8,678 2,150
credits worth `20bn for its 3,960MW Tilaiya ultra mega
Advances 343 876
power project in eastern India. While Edserv
Declines 1,123 1,910 Softsystems fell 4.12% after it bought e-learning
Unchanged 48 108 online content of Prosel Ventures for `350mn in an all
Total 1,514 2,894 stock deal.
Global Markets • Market breadth was weak at ~0.46x as investors sold
Index Latest Values Change (%) large cap stocks. FIIs sold equities worth `8.25bn while
domestic institutions bought equities of `2.95bn.
DJIA 10,655.30 -2.4%
NASDAQ 2,335.83 -3.3% • Asian markets are down today taking the cues from
Nikkei * 8,406.33 -1.6% weak US markets overnight. Both the Nikkei and the
Hang Seng are down today.
Hang Seng * 16,784.99 -0.2%
* as of 8.45AM IST
• We expect a weak opening for the Indian markets
today following the Asian markets.
Currencies / Commodities Snapshot
Economic and Corporate Developments
Latest Previous
Quote Close • India’s exports grew 44.2% in August y-o-y to $24.3bn
Indian Rupee per $ 49.47 49.10 while imports expanded by 41.8% to $38.4bn in
Indian Rupee per € 65.20 65.20 August, translating into a trade deficit of $14bn in
NYMEX Crude Oil($/bbl) 76.75 77.61 August.
Gold ($/oz) 1,661.00 1,656.00 • India received foreign direct investment (FDI) worth
Silver ($/oz) 30.60 30.75 $2.83bn in August, an over two-fold jump compared to
that in the same month last year.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • SpiceJet plans to set up five more regional hubs in an
Previous Current Change effort to connect all major towns through its 70-
Company Name
Close (`) Price (`) (%) seater Bombardier aircraft.
BPCL 646.85 681.10 5.29
• Alstom India has launched a comprehensive plan to
HPCL 365.40 378.55 3.60
consolidate its position in the country, especially
Educomp Sol 238.40 245.80 3.10
after the 12th Five-Year Plan has projected an
JPPOWER 34.10 35.05 2.79
investment requirement of $1tn in the infrastructure
Glaxosmithkl 2329.20 2394.00 2.78
sector alone.
(BSE Mid-Cap) • Premium spirits maker Diageo is looking to acquire
Previous Current Change half the stake of its Indian partner Radico Khaitan in
Company Name
Close(`) Price(`) (%) its five-year-old joint venture (JV) Diageo Radico
Kansai Nerolac 838.75 875.00 4.32
Distilleries.
Educomp Sol 238.40 245.80 3.10
• Reliance Power said it would earn `2,000Cr by
Glaxosmithkl 2329.20 2394.00 2.78
trading carbon credits from its ultra mega power
Rallis India 172.30 176.55 2.47
plant (UMPP) in Tilaiya, Jharkhand, during the first 10
Zuari Inds 542.75 555.45 2.34
years of its operations.
TOP LOSERS • The Central Bureau of Investigation (CBI) on Monday
searched the premises of JSW Steel’s plant in Bellary
(BSE A-Group)
district and raided the properties of several mining
Previous Current Change companies in northeast Karnataka, besides offices of
Company Name
Close(`) Price(`) (%)
G Janardhana Reddy and some associates of the
Sintex Inds 127.45 111.70 -12.36
arrested magnate-politician. Several documents
Shipping Corp 83.20 75.20 -9.62
were seized in connection with the alleged multi-
DLF 218.65 201.55 -7.82 crore mining scam, official sources said.
JSW Steel 591.30 549.50 -7.07
US markets
Mundra Port 164.25 153.55 -6.51
U.S. markets declined sharply overnight as worries
(BSE Mid-Cap)
over Greece’s debt crisis overwhelmed a report
Previous Current Change showing slightly stronger U.S. manufacturing
Company Name
Close(`) Price(`) (%)
activity.
Sintex Inds 127.45 111.70 -12.36
Shipping Corp 83.20 75.20 -9.62
The Dow Jones Industrial Average dropped 258.08
points, or 2.4%, to close at 10,655.30. The S&P 500
Anant Raj Inds 57.85 53.75 -7.09
closed down 32.19 points, or 2.9%, at 1,099.23, led
Dewan Housing 235.10 218.80 -6.93
by a 4.5% drop in financial stocks. The Nasdaq
JSL 100.05 93.65 -6.40
Composite declined 79.57 points, or 3.3%, to
2,335.83, after reaching an intraday high of
2,430.88.
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