Market Report may 29th 2009

Nifty tests 4350; capital goods, banks, metals gain.
At 14:54 hours IST - the benchmark indices maintained positive upmove on the back of good earnings from L&T, SAIL and M&M and shrugged off negative European cues. The Nifty tested the 4350 level while the Sensex was above the 14300 level, despite selling pressure at higher levels.
Market cues: FIIs net buy $91.7 mn.
Rupee recovers from early fall as markets gain.
Bonds drop on concerns over rising supply.
Govt sells Rs 15,000 cr of bonds, as planned: RBI.
Gold remains subdued on weak global cues.
Oil holds above $63 as Opec discusses output.
Aditya Birla group company to set up 10 mt captive port at Chudamani.
BOC to invest Rs 1000cr in 3 years.
NTPC-Simhadri Unit III to be ready by Nov 2010.
GNET India to introduce low cost cell phones.
Bajaj Auto eyes 40% share of eastern market.
L&T net rises 3.3 per cent.
Tata Power net rises 58%.
Bharti Wal-Mart's first store to open on Saturday.
M&M net surges 89 per cent.
Tata Motors launches new class of trucks.
Sebi plans trading via wireless devices.
Overloaded LIC enlists agents for collections.
India's credit rating under pressure: Moody's.
Religare enters Home Loan Business.
FDA is reviewing Ranbaxy’s corrective plan on US drugs.
Tech Mahindra to start satyam layoff.
SIngapore Nifty is trading at 4365.up by 33 points at 9.20 AM IST.

Market Report- May 28th 2009

FM-speak, US data lift Sensex 520 pts.
Finance Minister Pranab Mukherjee’s statement that he would get bankers committed to a "more benign plan of action", and improving consumer confidence in the US lifted market sentiments today.The Bombay Stock Exchange (BSE) Sensitive Index, or Sensex, rose sharply, led by realty and banking stocks.The Nifty closed near the day’s high on short covering in the futures & options (F&O) segment on account of favourable news from the domestic as well as global front. Realty, metals, banks, infra surge.The Nifty May and June futures ended with a premium to spot, indicating short covering by bear operators. However, these index futures changed hands at the 4,227-4,240 level compared to the closing level of 4,284-4,294, indicating that there has been no fresh buying or short covering at higher level.
Money Market;
Bond yields up on borrowing worries.
Rupee edges up as bullish stocks boost inflow hopes.
Commodity Market.
Oil breaches $63 on demand recovery talk.
Gold lower on overseas cues, strong rupee.
Reports:
FIIs net bought Rs 1,159cr in F&O on Wednesday.
RIL finds two more gas reserves in K-G basin.
ONGC to start appraisal drilling in Mahanadi block.
Corp Bank to raise Rs 1,000 cr in FY10.
MTN's minority shareholders oppose deal with Bharti.
Tata Realty eyes Rs 10k-cr revenue.
MRF lifts lockout at TN factory.
Uco Bank puts follow-on issue on hold.
Pyramid Saimira suffers Rs 100-cr loss.
Maytas Infra approaches government for help.
Asian markets in red.
SIngapore Nifty is trading at 4259 down by 19 points.Markets are expected to open flat and volaility is expected ahead of expiry of derivative contracts today.

Market Report- 27th may 2009

Sensex dives 2.3%, lowest close since post-poll rally.
Markets ended near day’s low on Tuesday, tracking weak European and Asian markets. The Bombay Stock Exchange benchmark Sensex fell by 2.3%, its lowest close since 17% circuit-breaking rally after UPA’s sweeping victory in the 15th LS polls.
Rupee slides most in three months, dips 1.3%.
FIIs net sell Rs 1,250cr in F&O on Tuesday.
US market jump as consumer data fuels hopes.
Dow adds 196pts; Indian ADRs end +ve.
GM: Stage set for largest ever US industrial bankruptcy
Bharti Airtel-MTN deal to test new FDI guidelines.
Bharti may rope in holding co.
Wipro Infotech to invest Rs 200 cr in data centres.
Tata Comm net grows 4-fold.
NIIT Tech's Q4 net down 15 per cent.
Just before the annual general meeting (AGM) of India’s largest IT firm, Tata Consultancy Services (TCS), the board of directors of the company named N Chandrasekharan as the Chief Executive Officer-designate.
State-run banks to cut rates by 100-150 bps.
Indian Markets are set to open with a positive gap taking cues from the US and Asian Peers.
SIngapore Nifty is trading at 4225. up by 117.5 points at 9.20 AM IST

Market Report 22nd May 2009.

Sensex falls over 300 pts on profit-booking, inflation.
The benchmark indices opened on a weak note and extended losses in late trade led by the fall in capital goods and banking stocks. Index heavyweight such as Reliance Industries, ICICI Bank and State Bank of India fell between 2 and 6 per cent on unwinding of long positions in May futures by around 200,000-400,000 shares each. With only five trading days remaining for the expiry of the May series, July futures of these stocks witnessed fresh rollover from bulls and bears.After the massive rally in large stocks, the interest of the markets has shifted to small- and mid-cap stocks. While the Bombay Stock Exchange (BSE) Sensex has corrected by nearly 5 per cent since Monday, mid- and small-cap indices have witnessed 9 per cent and 14.48 per cent gains, respectively.
FII investment crosses $3 billion-mark in 2009.
FIIs net sell of Rs 234 cr in equities on May 20.
MFs net buy of Rs 240 cr in equities on May 20.
Oil falls below $61 after rise to 6-month peak.
OPEC to keep output steady after prices rise.
Rupee heads back to 2009 high on inflow hopes.
Bonds dip as RBI cuts buyback; Re gains 7 p.
Mexican multiplex chain to invest Rs 1,700 cr in India.
Russian govt to infuse $670 mn in Sistema Shyam.
Swine flu spreads in Asia; Japan has first case.
Inflation at 0.61% vs 0.48%; Expert doesn't see rate cuts.
Steel prices have steadied, demand picking up: Jindal Steel.
Ranbaxy acquires skin care, lifestyle range.
MRF to shift work from Arakkonam to Andhra.
Bajaj Auto net up 8% to Rs 130 crore.
Banks give Tata Power a collateral shocker.
LIC makes Rs 2,600 cr in bear mkt.
Mphasis rises 4.39% on results.
Industrial credit picks up, poll result helps.
NIIT witnesses buying interest.
Crompton Greaves up on large volume.
ITC Q4 net profit seen up 13.14% at Rs 832.3 cr.
Jet Airways to expand West Asia service.
Maruti now drives Suzuki's profit.
IT cos may cut variable pay to manage costs.
First-ever insurance IPO soon from Rel Life.
Singapore Nifty seen trading flat at 4219.5

Market Report-21st May 2009

On Wednesday, the BSE Midcap index and the CNX Midcap index rose 6% each while the major indices ended 1-2% lower. The 30-share Sensex closed at 14,060.66, down 241.37 points, and the 50-share Nifty shed 48.15 points to close at 4,270.30. So far this week, the midcap indices have gained over 20%, compared with a 15% rise in the benchmark indices.
Reports:-
Experts see rupee breaching 45/dollar by year end.
U.S. financial system healing; Japan slump deepens.
Japan’s economy shrinks at record 15.2 per cent in Q1.
Dollar loss deepens vs yen, Asian stocks slip.
Nikkei down as yen drags on exporters, techs troubled.The benchmark Nikkei lost 109.49 points to 9,235.15, while the broader Topix fell 1 percent to 877.06.
Wipro fires 300 employees for non-performance: Sources.
Satyam slashes variable pay by 10-30% across levels.
Aban Offshore refinance deal soon.The firm needs to repay Rs2,360 cr debt by 31 Mar, including $160 mn bonds listed in Norway, or face bankruptcy there.
MphasiS quarterly net profit triples.
Singapore says first-quarter GDP shrinks 15 pc.
Corporate GMR Infra plans to raising $500 mn via QIP.
Tata Motors raises $262 mln in bonds - sources.
Indiabulls Real Estate raises $565 mn via QIP.
PowerGrid scouts for local partners to win US orders.
PNB Q4 net profit up 59.2 per cent.
Oil prices hit six-month high of $62 a barrel.
Gold still a hot pick with investors.
SIngapore Nifty seen trading at 4242.5 down by 40.5 points at 9.20 AM IST.
Nifty View:- Nifty may open lower on profit Booking.If nifty trades below 4220,Sell Nifty with a target of 4168.

Market Report 20th may 2009

After a “forced holiday” yesterday due to two circuit breakers, traders rushed back to the market today. The result: Record combined volumes in the market.Markets reported their highest turnover of 157,891 crore. In the cash segment, the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) recorded turnovers of Rs 40, 122 crore and Rs 11,781 crore, respectively. In the futures and options (F&O) segment, the NSE recorded the highest-ever turnover of Rs 105,986 crore.
Indian ADRs: Patni, Satyam dip over 8.5%, Infy down 5.4%.
Asian markets open flat; Hang Seng slips 47pts.
Markets face stiff resistance around 4400 levels and may remain weak..
SIngapore Nifty seen trading at 4270 down by 46.5 points at 9.50 AM IST

Market Report-19th MAy 2009

Sensex greets UPA with 2,111 pt rally.
It was the shortest trading session in the history of Indian stock markets, lasting a little over a minute and generating wealth of Rs 5,66,881 crore for investors.Total futures and options (F&O) turnover was at Rs 2,599 crore, only 5 per cent of the normal day traded volume on the NSE. This means the two upward circuit filters (which lasted just 10 seconds), probably through auto generated stock data, are likely to be unreliable.Stock brokers face a margin pressure of about Rs 3,000-5,000 crore as a result of buying frenzy in the markets today which led to benchmark indices Nifty and Sensex hitting the 20 per cent upper circuit. Moreover, the National Stock Exchange (NSE) today increased its Value at Risk (VaR) and SPAN margin applicable on stock and index futures by nearly 30 per cent and 80 per cent, respectively, adding to the brokers’ woes.
Stock surge irrational, say fund managers.
Indian share valuations meanwhile have gone up sharply in the last two months -- the main index now trades at nearly 16 times its 12-month forward earnings, up from about 9.5 times in early March -- moderating their attraction.
Bond Market:- Yields drop to two-week low on rate cut speculation.
Forex Market:-The rupee on Monday gained 2.98 per cent against the dollar — the biggest single-day rise in 23 years — in anticipation of large foreign capital flows due to the election verdict in favour of a stable government led by the Congress party.
Crude:- Oil prices dip below $59 in Asian trade.
Reports:-
Tata to hike wages despite meltdown.
Madras HC allows TVS to use Bajaj's patented tech.
Top firms add Rs2 trillion in a minute; RIL leads gain.
Geojit Financial to amalgamate unit with Geojit BNP.
FIIs net buy Rs 512cr in F&O on Monday.
Review upper circuit limit, say experts.
Circuit breakers did not kick in after 10 per cent rise.
International Markets:-
Asian markets open up; Tech shares boost Nikkei.
The benchmark Nikkei climbed 254.40 to 9,293.09, after earlier rising as much as 3.2 percent to 9,326.75. The broader Topix gained 2.1 percent to 877.72.Dow zooms 235pts; Tata Comm ADR rallies 28%.
Singapore nifty is trading at 4590 up by 220 points at 9.29 AM IST.

Market Report- 18th may 2009

Indian markets have much to rejoice from the verdict of the 15th Lok Sabha elections. Formation of a strong and stable government at the centre would give a big fillip to the market sentiment given the deteriorating economic environment in the country and elsewhere.The opening on Monday morning on Indian stock exchanges is likely to be euphoric. But this feeling can peter out after a couple of sessions as the government gets down to the brass-tacks to tackle the ongoing crisis; sending a grim reality to the markets regarding the economic reality.
And then, there is no getting away from the fact that this rally from the March lows is already 10 weeks old and both global and local indices are currently showing signs of fatigue. But it may not be a one-way street for all. There are disturbing rumours that many traders and some big operators have been caught on the wrong foot following UPA’s convincing win. These are people, who, last week, went short on the market by writing call options, buying puts, and building naked futures positions. While some of these players are staring at massive losses, they are clearly in a minority. Analysts feel Election results may lift market, but the rally will be short-lived.
Reports:-
China keeps buying US bonds despite concerns.
FIIs net sell Rs 288cr in F&O on Friday.
Fresh stimulus expected in 100 days.
Cairn-IOC crude deal beats analysts' expectations.
BSNL introduces video telephony, surveillance and mobile advertising.
Asian markets in red.

Market Report 15th May 2009.

The Nifty is holding its crucial support level of 3,500, though it has breached the 3,600 level and closed at 3,593 yesterday.The key benchmark indices fell for the second straight day after the exit polls indicated a fractured mandate for the just-concluded parliamentary election.
If the exit polls are correct, forming a government is going to be a tortuous process and the next ruling coalition will be a fragile affair. Yet the benchmark Sensex index on the Bombay Stock Exchange did better than most of the Asian indices on Thursday, staving off the worst of the expected double whammy from the prospect of prolonged political uncertainty and faltering global markets.But how true is the Exit polls?.Read this,In 2004 elections the exit polls predicted Samajwadi party will win 4 seats.But when the actual results were out they have won 27 seats.So we advise traders and investors to not carry forward any positions for monday.
Reports:-
FIIs net sell Rs 489cr in F&O on Thursday.
Indian cos expect economy to be normal only in the second half of '09-10: CII survey.
RBI survey lowers growth projection for next 10 years to 7.5%
CIL may import non-coking coal for first time.
Eveready ties up with French firm for overseas ventures.
UBH gets shareholder nod for Rs 12k crore guarantee for KFAirlines.
Bond yields up on poll outcome worries and rose ahead of $2.4 bn on account of debt sale.
Libor has biggest drop in eight weeks.
RBI urged to enhance credit deposit ratio for co-op banks
NTPC inks Rs 8,500 cr loan pack with SBI
Reliance Big Entertainment's twenty film projects approved.
ONGC to cancel rig deal with Great Offshore
SC stays TDSAT judgment on BSNL's spectrum.
Maruti, Tata hunt for US, European car engineers.
Overall IT spend to dip 3.7 per cent in 2009.
SBI corrects results, says no material change.
Axis Bank again cuts lending rate by 50 basis points.
Bank of Maharashtra Q4 net up 145.24%
Canara puts NPA sale on hold.
DHL Express, BPCL ink MoU for retail alliance.
Nestle restores partial production at Pantnagar
United Phosphorus up on MSCI India inclusion.
Cairn India is open to buying the 30 per cent stake that government-owned Oil and Natural Gas Corporation (ONGC) owns in its oil block in Rajasthan. Cairn India is the operator of the block, with 70 per cent ownership currently.
DLF seeks shareholders nod for hiving-off wind power biz.
Hirco posts loss of 30 mn pounds for H1 2009.
Banking, tech shares boost US markets.
British Telecom swings into Q4 loss; to cut 15,000 jobs.
ArcelorMittal to slash workforce.
India pips US, Russia to be world's third-largest steel maker.
Sony posts first annual loss in 14 yrs.
Rupee falls to 49.79 mark.
IEA cuts oil-demand outlook as recession lingers.Oil demand seen dropping at fastest pace since 1981.
Oil prices up in Asian trade.
Gold prices ease, buyers seek more falls.
Asian markets have today opened on a postive note.The Hang Seng has surged 378 points (2%) to 16,920. The Nikkei has advanced 151 points (1.5%) to 9,245 after the Sony Corp predicted that their annual loss would be smaller than expected.
The Shanghai Composite has added 13 points to 2,654 and the Straits Times has gained 43 points (2%) at 2,165.
The Seoul Composite is up over 14 points (1%) at 1,395 and the Taiwan Weighted has increased 134 points (2%) to 6,499.
Singapore Nifty is trading at 3615.5 at 9.30 AM IST.

View:- Marekts are expected to be extremely Volatile.Traders are not advised to carryforward any positions for the weekend.If nifty falls below 3578 levels, sell Nifty for a target of 3528.And if bank nifty falls below 5406,sell Bank Nifty for a Target of 5328.Trade with Strict Stop Loss.

Market Outlook

Markets are highly volatile ahead of Election results.India could be heading for a weak coalition government , with exit polls from the general election suggesting the ruling Congress-led coalition and its rivals would fall short of an outright majority.Three exit polls on Wednesday showed the ruling Congress-led coalition was slightly ahead of the opposition Hindu-nationalist alliance, but both groups were in need of smaller allies to gain a parliamentary majority.Official results will be released on Saturday.

Asian markets..

Nikkei hits 2-week low after U.S. data, Asian markets opened down this morning following worry over Nikon Corp's first annual loss in more than a decade.

China's Hang Seng and Japan's Nikkei have shed 2.5% each to 16,605 and 9,103, respectively.

The Straits Times plunged 2% to 2,137.

The Seoul Composite and the Taiwan Weighted declined 1.5% each to 1,391 and 6,381, respectively.The Shanghai Composite slipped 1% to 2,637.

Singapore nifty seen trading at 3,560.0 down 79 points..at 9.20 AM IST

News you can use:Bond yields up ahead of auctions, poll results.

Sebi wants cos to provide 100% cover for listing of bonds.

Borrowing costs increase at 91-day Treasury Bill sale.

SBI reduces deposit rates by 25-50 basis points

Banks can reduce lending rates further: Subbarao

Shriram Transport to raise Rs 1,000 cr in NCD issue

Suzlon Energy cancels bond repurchase worth $166 mn

DLF: Cash flows will improve.

DLF exits Dankuni township project.

DLF promoters sell stake to buy out DE Shaw investment in DAL.

NSE buys Kurla property for Rs 120 crore

BPCL Kochi Refinery to get mega reactor

Mahindra Shubhlabh's grape export up 9.25%

Tata Steel plans Rs 3,000 cr non-convertible debenture issue

AppliedMicro targets $200 mn revenue in three years

ICICI Pru Life to hire 3,000 more in two months

TCS gets five-year contract from VW

NRI deposits increase 22 times in fiscal 2009

Lupin net profit up 64% to Rs 157 crore

Tide turns for MFs; April sees net inflow

RIL may repay Rs 15,000 cr debt this fiscal.

Oil rises above $59 to 6-month high.

View:- Markets may open negative.Support is seen at 3600.If it breaks 3578, sell nifty futuresfor a target of 3528.