The key points from the document are: 1) Indian markets snapped a three day winning streak, closing lower on Friday due to profit taking and lack of clarity on new US stimulus measures. Key indices were down around 1.5-2.3%. 2) Asian markets also dropped sharply in line with the US markets on Friday. The Dow and Nasdaq fell around 2.5-2.7% due to concerns over the Greek debt crisis and uncertainty around US economic growth. 3) The document provides analysis of movements in various Indian and global stock market indices and sectors, and highlights some buzzing stocks in corporate news.

1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Monday, September 12, 2011
Domestic Markets Snapshot Views on markets today
Name of Index Sept 8 Sept 9 Change (%)
• Indian markets snapped three day winning streak and
Sensex 17,165.54 16,866.97 -1.74%
closed on negative note on Friday as profit booking
CNX Nifty 5,153.25 5,059.45 -1.82%
emerged and a lack of clarity on new stimulus
BSE Mid-cap 6,490.25 6,435.48 -0.84%
measures re-ignited concerns over the health of the
BSE IT 5,065.96 4,950.11 -2.29% U.S. economy and drove investors away from equities.
BSE Banks 11,364.97 11,097.84 -2.35% Disappointment further grew after a speech by the US
FII Activity (`Cr) Federal Reserve chief lacked details on plans to spur
Date Buy Sell Net economic growth after a $447 billion jobs package
8-Sep 2225 2196 29 plan by U.S. President Barack Obama. Except
7-Sep 3087 2713 374 consumer durable, all sectoral indices closed negative
Total Sept 16699 14337 2362 with metal, banks, oil & gas and IT stocks were major
2011 YTD 449405 447842 1554
losers. IT stocks led the losses as US is one of the
biggest markets for India's $76bn information
MF Activity (`Cr)
technology sector. Infosys was down by 2.74% while
Date Buy Sell Net TCS ended 1.93% lower. Reliance Industries lost
8-Sep 404 466 -62 3.13%, a day after India's federal auditor criticised the
7-Sep 562 523 39 company and the government over development of
Total Sept 2252 3014 -762 the country's key natural gas field in the Krishna
2011 YTD 95426 90186 5512 Godavari (KG) basin and called for revamping profit
Volume & Advances / Declines sharing arrangements from oil and gas blocks.
Hindalco Ind. was also down by 5.72% after Morgan
NSE BSE
Stanley downgraded it to underweight from
Trading Volume (`Cr) 12,129 3,134
overweight and slashed its price target by nearly half.
Advances 521 1,203
GTL Ltd has jumped ~33% and GTL Infra rose 9.5%
Declines 949 1,663
after the news that the lenders have approved a debt
Unchanged 58 104
restructuring proposal by the two companies.
Total 1,528 2,970
• Market breadth was weak at ~0.72x as investors sold
Global Markets
large cap stocks. FIIs sold equities worth `427.76Cr
Index Latest Values Change (%)
while domestic institutions bought equities of
DJIA 10,992.13 -2.7%
`85.07Cr.
NASDAQ 2,467.99 -2.4%
Nikkei * 8,562.47 -2.0% • Asian markets dropped sharply today in line with the
Hang Seng * 19,220.59 -3.3% US markets Friday. Both, Nikkei and the Hang Seng
are trading with a sharp decline.
* as of 8.45AM IST
Currencies / Commodities Snapshot • We expect a weak opening for the Indian markets as
Latest Previous the heightened worries about the global economies.
Quote Close
Key events today
Indian Rupee per $ 46.34 46.39
Indian Rupee per € 62.93 63.77 • Closing of IPO of PG Electroplast Ltd. (subscribed 0.61x
NYMEX Crude Oil($/bbl) 86.12 87.24 as of September 9, 5PM).
Gold ($/oz) 1,856.10 1,856.40
Economic and Corporate Developments
Silver ($/oz) 41.34 41.57
• Car exports grow 22% between Apr-Aug of FY12.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group)
• Reliance Industries bagged British Safety Council
Previous Current Change award for its AP plant.
Company Name
Close (`) Price (`) (%)
SKS Microfinance 253.05 265.70 5.00 • Tata Motors launches Vista variant at `3.88lakh.
PIPAVAVSHIP 78.65 81.75 3.94 • Zandu Realty entered into agreement with realty
Hindustan Copp 232.70 238.65 2.56 developer Sheth Corporation.
Hindustan 325.05 333.25 2.52
Unilever • Power companies like Power Finance, REC, Essar,
HEROMOTOCO 2170.60 2215.10 2.05
Tata Power and Reliance Power may default on
(BSE Mid-Cap) `135,000Cr of loans according to news sources.
Previous Current Change
Company Name • Oil ministry is expected to approve Cairn India's
Close(`) Price(`) (%)
GTL 52.70 70.00 32.83 proposal to start pumping crude oil from the
GTL Infra 12.57 13.76 9.47 Bhagyam field according to media.
Arvind 85.20 91.90 7.86 US markets
JUBILANT 210.20 222.40 5.80
US stock indexes tumbled Friday on heightened
Berger Paints 101.90 107.70 5.69
worry about Greece’s debt crisis, pushing the dollar
to a six-month high against the euro and 10-year
TOP LOSERS
yields to a record low. The distress came along with
(BSE A-Group)
news that the European Central Bank’s top
Previous Current Change
Company Name economist had quit and that Germany was
Close(`) Price(`) (%)
Reliance Comm 89.40 83.75 -6.32
reportedly preparing to safeguard its banks against a
possible Greek default.
Jindal Saw 130.50 123.15 -5.63
Lanco Infra 18.80 17.75 -5.59 The Dow Jones Industrial Average lost 303.68 points,
Sterlite Inds 138.45 130.85 -5.49 or 2.7%, to 10,992.13, down 2.2% from the week-
Hindalco Inds 158.95 150.25 -5.47 ago close. The Nasdaq Composite Index shed 61.15
(BSE Mid-Cap) points, or 2.4%, to 2,467.99.
Previous Current Change
Company Name
Close(`) Price(`) (%)
Jindal Saw 130.50 123.15 -5.63
SREI Infra 40.85 38.65 -5.39
Hexaware Tech 80.95 76.80 -5.13
India Cements 73.45 69.80 -4.97
KGN Inds 28.85 27.45 -4.85
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