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Premarket: Markets may extend rally on good global cues

2012-02-06T09:11:00.000+05:30

February 06, 2012 | 8.30 AM

Markets may extend rally on good global cues
The improving US jobs data has lifted global sentiment. The start is likely to be on a strong note, extending previous sessions' rally.

Headlines for the day

Govt to loan Rs3,000 cr to financially strained railways

Piramal Healthcare buys 5.5% more stake in Vodafone India

Kingfisher puts plans to join oneworld alliance on hold

NMDC looks to acquire mineral assets overseas

Banks ask borrowers to cover their personal loans, overdraft facilities

Events for the day

Results: GSK Consumer Healthcare, HUL, NALCO

STOCK TO WATCH

n HUL

n GSKCONS

n NALCO

n MOIL

n ADANI

n BGRENER

FOREX

Currency

Level

USD to INR

48.61

GBP to INR

76.72

Euro to INR

63.61

JPY to INR

0.63

INDIAN INDICES

Indices

Support

Resistance

Sensex

17428

17719

Nifty

5284

5350

The US economy showing further improvement with forecast-beating jobs data bolstered investor risk appetite. Tracking bullish world stocks, the Indian markets may follow the global counterparts and start the first session of the week on a strong note.

Earnings may also dictate the near-term trend. Other earnings scheduled to release today - Adani Ports and Special Economic Zone, Adani Power, MOIL, India Cement, BGR Energy, Merck and Hanung.

FII/MF ACTIVITIES

As on 02-02-2012

FII
(Rs cr)

MF*
(Rs cr)

Gross purchase

5124.80

802.70

Gross sale

2989.90

915.50

Net investment

2134.90

(112.80)

*As on 02-02-2012

Daily trend of FII/MF investment in equities
The FIIs have been net buyers of the Indian stocks to the tune of Rs2,134.90 crore on February 02, 2012. The domestic investors have sold Indian stocks worth a net of Rs112.80 crore on February 02, 2012. The data is as per SEBI website.

GLOBAL INDICES

The European stocks rose on Friday (February 03, 2012), as manufacturing increased globally and the US jobless rate fell to the lowest in three years.

The US stocks rose on Friday after the US economy added more jobs than expected last month, driving the Nasdaq Composite to an 11-year high and pushing the Dow to its highest close in nearly four years.

The Asian stocks were trading higher on Monday (February 6, 2012) supported by robust US jobs data. SGX Nifty was trading 50 points higher, suggesting a positive opening for the Indian markets.

Commodity cues
US Crude Oil prices rose on Friday after a report showed the US economy in January created jobs at the fastest pace in nine months, fueling hopes of stronger demand in the top petroleum-consuming nation.

COMMODITIES

Commodity

Level ($)

Chg ($)

Gold

1740.30

(14.30)

Silver

33.75

(0.43)

Crude

97.84

1.48

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Weekly-market: Market up 3%, registers fourth straight weekly rise

2012-01-27T23:28:00.000+05:30

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January 27, 2012

Market Commentary

Market up 3%, registers fourth straight weekly rise

The Indian markets stood positive for the fourth consecutive week. The Sensex rose 2.96% and the Nifty up 3.09%

Major news for the week:

Indian indices
The Indian markets closed higher for the fourth straight week. The biggest surprise this week was a cut in CRR by the RBI in its Third Quarter Monetary Policy. The RBI's move boosted investor confidence in the market and also better-than-expected earnings back home, appreciation in rupee added to the positive tone. Heavy inflow of foreign money provided major support this week. Stabilisation in the Europe and gradual improvement in the US economic data further helped markets.

The Sensex swung 600 points between a weekly high of 17259 and a low of 16659 and closed the week higher by 495 points or 2.96% at 17234. The Nifty swung 196 points between a weekly high of 5217 and a low of 5021 and closed the week higher by 156 points or 3.09% at 5205.

Global indices
All the global indices closed the week higher. The Sensex was the best performer of the week surging by 2.96%, followed by DAX up by 2.12%, Hang Seng advanced by 1.95% and CAC40 up by 1.26%. Shanghai Composite remained shut for the whole week.

Sectoral and stock screening
All the sectoral indices closed the week on a positive note except BSE Realty down by 0.28%. Top gainers of the week - BSE CG advanced by 5.64%, BSE TECk rose by 5.18% and BSE Auto surged by 4.29%.

Coming to 'A' group stocks, top three gainers of the week - JSW Energy jumped by 22.15%, Essar Oil advanced by 20.21% and Sintex Industries rose by 16.50%. Top three losers of the week - Alstom Projects India slipped by 6.74%, Hero MotoCorp declined by 6.61% and United Breweries down by 6%.

FII/MF activity
The foreign institutional investors (FIIs) were the net buyers of the Indian stocks this week to the tune of Rs3066 crore. The domestic investors sold Indian shares worth a net of Rs268 crore during the week till January 25, 2012.

TOP MOVERS (GROUP A)

Company

Price (Rs)

% chg

Gainers

JSW Energy

52.95

22.15

Essar Oil

62.45

20.21

Sintex Industries

83.30

16.50

Losers

Alstom Projects India

354.05

-6.74

Hero MotoCorp

1821.85

-6.61

United Breweries

415.10

6.00

FII/MF ACTIVITIES

Rs (cr)

FII

MF*

Gross purchase

12,000

1,845

Gross sale

8,934

2,114

Net investment

3,066

-268

*As on January 25, 2012

Outlook
The quarterly earnings will continue to pour in and may provide future course of direction for the markets. Auto and cement stocks will be focus as the companies from these two sectors will start releasing monthly sales data for January 2012 from Wednesday (February 01, 2012). The share buyback programme of Reliance Industries (RIL) will begin on February 01, 2012 and close on January 19, 2013. Changes in the external environment, mainly in the Europe and US may have some bearing on the markets.

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Pre-market: Markets may open in green

2012-01-27T08:49:00.000+05:30

January 27, 2012 | 8.30 AM

Markets may open in green
The start is likely to be on a higher note inline with the positive Asian cues.

Headlines for the day

Dr Reddy's Laboratories in spot with US health regulator again

NTPC power project in Karnataka gets MoEF nod

JSPL to spend $600 mn on new unit in Bolivia

Finance Ministry for higher excise duty on diesel cars

Government may introduce Micro-finance Bill in Budget Session

Events for the day

Release of weekly inflation data

Results: Bank of India, BHEL, Canara Bank, NHPC, NTPC, Petronet LNG

STOCK TO WATCH

n BOI

n NTPC

n BHEL

n CANARA

n PETRONET

nNHPC

FOREX

Currency

Level

USD to INR

50.04

GBP to INR

78.41

Euro to INR

65.54

JPY to INR

0.65

INDIAN INDICES

Indices

Support

Resistance

Sensex

16900

17200

Nifty

5100

5196

The Indian markets may begin the last session of the week in the green zone led by positive Asian cues. The global markets are positive on risky assets, with the Fed, as well as other major central banks, willing to provide support through their policy actions.

Back home, weekly inflation data will be released today. Earnings will also continue to pour in. Other companies results today - GSFC, Karur Vysya Bank, Sundaram Finance, Pfizer, Gujarat Alkalies & Chemicals, Wyeth, Redington, Savita Oil Technologies, Jyoti Structures, Tata Sponge Iron and Bharat Electronics.

FII/MF ACTIVITIES

As on 25-01-2012

FII
(Rs cr)

MF*
(Rs cr)

Gross purchase

2997.70

485.10

Gross sale

2088.50

642.40

Net investment

909.10

(157.30)

*As on 23-01-2012

Daily trend of FII/MF investment in equities
The FIIs have been net buyers of the Indian stocks to the tune of Rs909.10 crore on January 25, 2012. The domestic investors have sold Indian stocks worth a net of Rs157.30 crore on January 23, 2012. The data is as per SEBI website.

GLOBAL INDICES

The European shares hit a six-month high on Thursday (January 26, 2012), boosted by cyclical stocks such as miners and banks, as strong data from the United States and the overnight US Federal Reserve commitment to an easy monetary policy boosted market sentiment.

A month-long rally on Wall Street appears to be sputtering as stocks slipped on Thursday in what investors called a possible warning of weakness ahead

The Asian markets were trading in the green on Friday (January 27, 2012). However, SGX Nifty was trading 15 points down. Shanghai Composite remained shut.

Commodity cues
US Crude Oil rose on Thursday a day after the Federal Reserve said interest rates should remain low well into 2014 and data showed an increase in orders for U. manufactured goods. That news sparked buying interest in riskier assets such as oil and other commodities.

COMMODITIES

Commodity

Level ($)

Chg ($)

Gold

1726.70

26.60

Silver

33.74

0.62

Crude

99.70

0.30

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Daring Derivatives: Bulls rejoice

2011-12-27T01:15:00.000+05:30

Daring Derivatives

[For December 27, 2011]

Sharekhan
www.sharekhan.com

Summary of Contents

DARING DERIVATIVES

Derivatives Summary

Nifty (December) futures' premium over spot Nifty has increased to 8.70 points from 6.60 points.

Total open interest in the market was Rs134,653 crore and Rs2,219 crore was added in open interest.

Nifty call options underwent a reduction by 21.44 lakh shares in open interest whereas put options added 23.51 lakh shares in open interest.

Click here to read report: Daring Derivatives

Regards, The Sharekhan Research Team	myaccount@sharekhan.com
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Rollover Stat's

2011-12-26T23:42:00.000+05:30

Derivatives Info Kit

[For December 27, 2011]

Sharekhan
www.sharekhan.com

Summary of Contents

DERIVATIVES INFO KIT

Click here to read report: Derivatives Info Kit

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Derivatives Info Kit

2011-12-26T22:07:00.000+05:30

Derivatives Info Kit

[For December 27, 2011]

Sharekhan
www.sharekhan.com

Summary of Contents

DERIVATIVES INFO KIT

Click here to read report: Derivatives Info Kit

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NHAI Tax-free Bond Issue - Opening on 28 Dec 2011

2011-12-24T19:28:00.000+05:30

Investment Opportunity:

Interest rates are at peak level; best time to invest in fixed income tax free instruments.

Interest rate cycle has peaked out
Given the sharp slowdown in the industrial activity and softening of the food inflation, the interest rate cycle has peaked out. Reserve Bank of India has restrained from increasing the interest rates in the last policy review meet and is expected to begin reducing rates in March or April 2012.

Bond yields correct sharply
The bond yields which had increased close to 9% levels have corrected significantly to around 8.3% which shows easing of pressure on rates. The banks have also kept their demand deposit rates stable since past couple of months despite the increasing policy rates.

High post tax yield for triple A rated product
Tax free bond with yield of 8.2-8.3% is comparable with yields offered on government bonds and offer extremely attractive pre-tax yield close to 12% for a long period of time. The bond issue has got AAA (stable) rating from the three agencies -- Crisil, CARE and Fitch. The bonds would also be listed and tradable on NSE/BSE.

About NHAI:
National Highways Authority of India (Authority) is an autonomous organization of Government of India and was constituted mainly to survey, develop, maintain and manage the National Highways, to construct offices or workshops, to establish and maintain hotels, restaurants and rest rooms at or near the highways vested in or entrusted to it, to regulate and control the plying of vehicles, to develop and provide consultancy and construction services and to collect fees for services or benefits rendered in accordance with Section 16 of the NHAI Act. As per NHAI Act, 1988, certain stretches of National Highways have been entrusted to NHAI by the Government for development, maintenance and management.

Tranche

Series-I

Series-II

Tenor

10 Years

15 Years

Face Value

Rs1,000/- per bond

Issue Price

At par i.e. Rs1,000/- per bond

Coupon Rate

8.20% p.a.

8.30% p.a.

Interest Payment

Annual

Put & Call Option

None

Redemption Amount (Rs./ Bond)

Repayment of the Face Value plus any interest that may have accrued at the Redemption Date

Credit Rating

"CRISIL AAA/Stable" by CRISIL, "CARE AAA" by CARE and "Fitch AAA(ind)" by FITCH

Mode of Holding

Dematerialized as well as in physical form

Minimum Application

50 bonds (Rs50,000/-) and in multiples of 1 bonds (Rs1,000/-) thereafter

Listing

Proposed on BSE/ NSE

Who can apply	Category-I	Category II	Category III
Reservation for Categories	40% of overall issue size	30% of overall issue size	30% of overall issue size
Basis of allocation in case of over-subscription	On first-come-first-serve basis	On first-come-first-serve basis	On prorata / proportionate basis

* For more details, please refer to the Terms and Conditions.

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Daring Derivatives: Choppy session

2011-12-24T02:42:00.000+05:30

Daring Derivatives

[For December 26, 2011]

Sharekhan
www.sharekhan.com

Summary of Contents

DARING DERIVATIVES

Derivatives Summary

Nifty (December) futures' premium over spot Nifty has decreased to 6.60 points from 15.05 points.

Total open interest in the market was Rs132,434 crore and Rs1,469 crore was added in open interest.

Nifty call options added 13.97 lakh shares in open interest whereas put options added 7.25 lakh shares in open interest.

Click here to read report: Daring Derivatives

Regards, The Sharekhan Research Team	myaccount@sharekhan.com
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Weekly-market: Markets rise after 2-weeks steep slide

2011-12-24T00:25:00.000+05:30

Sharekhan's weekly newsletter

Visit us at www.sharekhan.com

December 23, 2011

Market Commentary

Markets rise after 2-weeks steep slide

The Indian markets surged this week after falling heavily for the two straight weeks. The Sensex rose by 1.6% and the Nifty up by 1.34%

Major news for the week:

Other stories:

Indian indices:
After two weeks of steep slide, the Indian markets rose this week as investors bought stocks available at lower levels. Strong US Housing Starts and Jobless Claims data, unexpected improvement in the German business sentiment index and better-than-expected Spanish bond auctions boosted global sentiments.

Signs that the US economy is improving further provided some respite. However, persistent gloom hanging over the euro zone capped some gains this week.

On the domestic front, food inflation falling sharply to a near four-year low of 1.81% buoyed investor mood. This is the lowest rate of food inflation since the week ended February 9, 2008, when it stood at 2.26%. The Indian markets fell in three out of five sessions of the week.

The Sensex swung 775 points between a weekly high of 15911 and a low of 15136 to close the week 1.6% or 247 points higher at 15739. The Nifty swung 232 points between a weekly high of 4763 and a low of 4531 to 1.34% or 62 points higher at 4714.

Global indices:
All the global indices closed the week higher except Nikkei down by 0.08% and Shanghai Composite down by 0.90%. CAC40 was the best performer of the week surging by 3.35%, followed by DAX up by 2.64%, Dow Jones up by 2.56%, and Hang Seng up by 1.84%.

Sectoral and stock screening:
Among the 13 sectoral indices, seven closed the week on a negative note. Top Gainers - BSE Oil & Gas rose by 3.26%, BSE FMCG surged by 3.20% and BSE Auto up by 2.15%. Major Losers - BSE CG fell by 3.18%, BSE Metal down by 1.56% and BSE Realty declined by 1.36%.

Coming to 'A' group stocks, top three gainers of the week - Lanco Infratech gained by 11.44%, Gujarat Fluorochemicals jumped by 10.33% and Sun TV Network surged by 9.50%. Top three losers of the week - Syndicate Bank tumbled by 16.79%, Allahabad Bank fell by 15.67% and REC declined by 14.78%.

FII/MF activity
The foreign institutional investors (FIIs) were the net sellers of the Indian stocks this week to the tune of Rs1105 crore. The domestic investors bought Indian shares worth a net of Rs162 crore during the week till December 21, 2011.

TOP MOVERS (GROUP A)

Company

Price (Rs)

% chg

Gainers

Lanco Infratech

9.84

11.44

Gujarat Fluorochemicals

385.70

10.33

Sun TV

291.70

9.50

Losers

Syndicate Bank

74.10

16.79

Allahabad Bank

119.50

15.67

REC

147.85

14.78

FII/MF ACTIVITIES

Rs (cr)

FII

MF*

Gross purchase

10,539

1,560

Gross sale

11,644

1,399

Net investment

-1,105

162

*As on December 21, 2011

Outlook
The markets are expected to remain highly volatile next week as traders roll over positions in futures & options (F&O) segment from the near-month December 2011 series to January 2012 series. The near-month December 2011 F&O contracts expire on Thursday (December 29, 2011).

Automobile and cement companies' stocks will be in focus ahead of the release of sales data for December 2011, which will start flowing in from January 01, 2012. Concerns over slowing domestic economic growth, high fiscal deficit, current account deficit and government's policy inaction may continue to weigh on sentiments. Further, FII recent selling activity is also a cause of worry.

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Derivatives Info Kit

2011-12-23T22:41:00.000+05:30

Derivatives Info Kit

[For December 26, 2011]

Sharekhan
www.sharekhan.com

Summary of Contents

DERIVATIVES INFO KIT

Click here to read report: Derivatives Info Kit

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Post-market: Markets close with modest losses amid volatile trade

2011-12-23T20:10:00.000+05:30

December 23, 2011 | 5:30 PM

Markets close with modest losses amid volatile trade
The Indian markets ended lower after two-day gains. The Sensex fell by 75 points and the Nifty declined by 20 points.

Major headlines

Other stories

Indian indices
The Indian markets erased all morning gains in the second half and closed a highly volatile trade with modest losses. Profit booking in oil & gas, banking, consumer durables, metal, power and technology stocks weighed on the sentiments. Index heavyweight draggers were RIL, HDFC Bank, Infosys, NTPC, Tata Steel, Bharti Airtel, ONGC and SBI.

The markets shrugged off positive global cues and ended the trade with modest losses after two-day gains.

Sensex movements: The Sensex started the trade 50 points higher at 15863 as against the previous close of 15813. After few minutes, the index touched the day's high of 15911 and then turned volatile. While entering into the second part of trade, the index slipped in the red zone on profit booking and touched the day's low of 15671 in late trade. The Sensex fell by 75 points to close at 15739 and the Nifty settled 20 points lower at 4714.

INDEX PERFORMANCE

Index

Close

% chg

Sensex

15,738.70

-0.47

Nifty

4,714.00

-0.42

MARKET INDICATORS

Top Movers (Group A)

Company

Price (Rs)

% chg

Gainers

Apollo Hospitals

563.00

7.74

Manappuram Finance

47.85

6.33

RCF

47.20

6.19

Losers

Syndicate Bank

74.10

-6.73

Cadila Healthcare

667.00

-5.68

Power Finance

133.10

-5.13

Market Statistics

BSE

NSE

Advances

1,553

937

Declines

1,198

746

Volumes (Rs crore)

Cash (BSE+NSE)

11,876

F&O (NSE)

127,545

Market Outlook: In the US, Durable Goods Orders, Personal Income & Outlays and New Home Sales data will be eyed on Friday.

Market sentiment
The market breadth stood in favour of advances. Of the 2891 stocks traded on the BSE, 1553 (53.72%) rose, 1198 (41.44%) fell and 140 (4.84%) remained unchanged.

Viewing volumes
Wind turbine major - Suzlon Energy was traded the most, with over 0.34 crore shares changing hands on the BSE. Following that, industrial finance company - IFCI (0.29 crore shares), an integrated infrastructure development company - Lanco Infratech (0.29 crore shares), India's second largest developer - Unitech (0.28 crore shares) and a Jaypee Group firm - Jaiprakash Associates (0.27 crore shares).

Sectoral & stock screening
Among the 13 sectoral indices, nine closed in the negative terrain. Top Gainers - BSE CG surged by 0.66%, BSE Auto rose by 0.23%, and BSE Realty up by 0.12%. Top Losers - BSE CD declined by 1.15%, BSE Oil & Gas fell by 1.05%, and BSE Bankex down by 1.04%.

Among 'A' group stocks, top three gainers - Apollo Hospitals Enterprise surged by 7.74%, Manappuram Finance up by 6.33% and RCF rose by 6.19%. Top three losers - Syndicate Bank declined by 6.73%, Cadila Healthcare fell by 5.68% and PFC down by 5.13%.

Global signals
The European shares surged on Friday (December 23, 2011), extending the week's thin-volume, pre-holiday rally after reassuring US economic data in the previous session gave a short-term fillip to a market still overshadowed by the euro zone debt crisis.

The Asian stock markets closed higher on Friday in thin holiday trading on signs the US economy is improving. Nikkei index was closed.

The US stock index futures point to a positive start on the Wall Street on Friday.

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Eagle Eye: Resistance @ 4770

2011-12-23T19:03:00.000+05:30

Eagle Eye (equities)

[For December 26, 2011]

Sharekhan
www.sharekhan.com

Summary of Contents

PUNTER'S CALL

Resistance @ 4770
The Nifty has closed in the negative today and is now expected to trade lower till 4600...

SMART CHART CALLS

MOMENTUM CALLS

Cick here to read report: EagleEye

Regards, The Sharekhan Research Team	myaccount@sharekhan.com
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Investor's Eye: Update - Telecommunications (End of 3G roaming pact among the players- Raises question on 3G revenue model); Viewpoint - Gujarat State Fertiliser Corp (In expansion mode); MF - Sharekhan's top equity mutual fund picks

2011-12-23T02:09:00.000+05:30

Investor's Eye
[December 22, 2011]

Sharekhan
www.sharekhan.com

Summary of Contents

SECTOR UPDATE

Telecommunications

End of 3G roaming pact among the players- Raises question on 3G revenue model

The Department of Telecom (DoT) has asked the telecom operators to terminate the 3G intra circle roaming arrangements entered amongst them, with immediate effect. The show cause notices in this respect would be issued to the players today or latest by Friday morning.

We believe that if the 3G roaming pact/ arrangements are not permissible, as stated by the government, then it would be sentimentally negative and would also have a potential revenue impact. Further the entire 3G model would come under question with players having to work their business economics again in the light of changed policy environment.

VIEWPOINT

Gujarat State Fertiliser Corp

In expansion mode

Extensive expansion plans: Gujarat State Fertiliser Corporation (GSFC) has plans to expand its product portfolio across segments especially the chemical segment with a total investment of about Rs1,400 crore. The projects that shall contribute significantly to the total revenue include a methanol plant (at a cost of about Rs350 crore), a TIFERT unit (at a cost of about Rs1,200 crore) and a nylon 6 plant (at a cost of about Rs275 crore). These three proposed plants will contribute nearly Rs1,825 crore at full capacity utilisation. The methanol plant will be operational by Q4FY2012 whereas the TIFERT unit would start production by Q1FY2013 and the nylon-6 project will commence production in Q3FY2013.
Cash rich with almost no debts on books: The planned capital expenditure of about Rs1,400 crore for the debottlenecking and brownfield projects will be fully funded through internal accruals. This will help the company to remain debt-free and utilise the huge cash at its disposal for growing in future through investing in projects related to its core competence. The company's management has clarified that it will invest only in projects related to the company's product portfolio and will not diversify in non-core areas. At the end of the Q3FY2012 GSFC has cash balance of Rs850 crore, which is enough to fund its future projects.
Outlook and stock view: Though we believe the company should be able to report a 9.0-9.5% compounded annual growth rate (CAGR) in its revenues over FY2011-13, its earnings could at best remain flat, if not decline, due to the margin pressure in both the fertiliser and the chemical business. On the positive side, its valuations are supportive and the company has a strong balance sheet with a huge cash of Rs850 crore (30% of its market capitalisation) at the end of Q3FY2012. Its return on equity was healthy at over 25% in FY2011. At the current market price the stock is trading 3.5x and 4.0x its FY2012E and FY2013E earnings respectively and has a dividend yield of 2%. We do not have a rating on the stock. .

MUTUAL GAINS

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Large-cap funds	Mid-cap funds	Multi-cap funds
ICICI Prudential Focused Bluechip Equity Fund - Ret	SBI Magnum Sector Funds Umbrella - Emerg Buss Fund	ICICI Prudential Discovery Fund
Principal Large Cap Fund	IDFC Premier Equity Fund - Plan A	Reliance Equity Opportunities Fund
Franklin India Bluechip	Religare Mid Cap Fund - Growth	Mirae Asset India Opportunities Fund - Reg
Birla Sun Life Frontline Equity Fund - Plan A	HDFC Mid-Cap Opportunities Fund	Tata Dividend Yield Fund
Tata Pure Equity Fund	Sundaram Select Small Cap Fund	UTI Opportunities Fund
Indices	Indices	Indices
BSE Sensex	BSE MID CAP	BSE 500
Tax saving funds	Thematic funds	Balanced funds
ICICI Prudential Taxplan	UTI India Lifestyle Fund	HDFC Prudence Fund
HDFC Taxsaver	Birla Sun Life India GenNext Fund	HDFC Balanced Fund
Religare Tax Plan	Fidelity India Special Situations Fund	Birla Sun Life 95
Fidelity Tax Advantage Fund	Canara Robeco Infrastructure Fund	Canara Robeco Balance
Franklin India Taxshield	DSP BlackRock Natural Resources & New Energy Fund - Ret	ICICI Prudential Balanced
Indices	Indices	Indices
CNX500	S&P Nifty	Crisil Balanced Fund Index

Fund focus

SBI Magnum Sector Funds Umbrella - Emerging Bussiness Fund

Sharekhan Limited, its analyst or dependant(s) of the analyst might be holding or having a postition in the companies mentioned in the article.

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Daring Derivatives: Optimism prevails

2011-12-23T01:10:00.000+05:30

Daring Derivatives

[For December 23, 2011]

Sharekhan
www.sharekhan.com

Summary of Contents

DARING DERIVATIVES

Derivatives Summary

Nifty (December) futures' premium over spot Nifty has decreased to 15.05 points from 18.35 points.

Total open interest in the market was Rs130,965 crore and Rs3,424 crore was added in open interest.

Nifty call options added 9.96 lakh shares in open interest whereas put options added 8.74 lakh shares in open interest.

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Derivatives Info Kit

2011-12-22T23:40:00.000+05:30

Derivatives Info Kit

[For December 23, 2011]

Sharekhan
www.sharekhan.com

Summary of Contents

DERIVATIVES INFO KIT

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Post-market: Firm Europe pushes Sensex 128 points higher

2011-12-22T20:20:00.000+05:30

December 22, 2011 | 5:30 PM

Firm Europe pushes Sensex 128 points higher
Gains in the European equities lifted sentiments, with the Indian markets reversing early losses and closing higher for the second straight day

Major headlines

Indian indices
The Indian markets reversed direction and traded in the green in the last hour of trade tracking positive European cues. Major upmove in realty, banking, power, consumer durables, auto and FMCG stocks pushed the markets higher. Recovery was also led by gains in RIL, ICICI Bank, HDFC Bank, DLF, Tata Motors, SBI, ITC and HUL.

Also, food inflation fell sharply to a near four-year low of 1.81%. This is the lowest rate of food inflation since the week ended February 9, 2008, when it stood at 2.26%.

The Nifty reclaimed above the 4700-mark for the first time in the last five sessions on closing basis. The markets closed higher for the second straight day.

Sensex movements: Mirroring weak global cues, the Sensex opened the trade 139 points lower at 15547. Further, the index extended losses on selling pressure and touched the day's low of 15473 in the afternoon session. Later after the opening of the European markets, the index showed smooth recovery and hit the day's high of 15835 in the late trade. The Sensex rose 128 points to shut shop at 15813 and the Nifty settled 41 points higher at 4734.

INDEX PERFORMANCE

Index

Close

% chg

Sensex

15,813.36

0.82

Nifty

4,733.85

0.87

MARKET INDICATORS

Top Movers (Group A)

Company

Price (Rs)

% chg

Gainers

Hindustan Copper

172.20

15.69

Jaypee Infratech

38.00

11.44

Ashok Leyland

23.35

11.19

Losers

Mphasis

312.75

-4.92

REC

154.35

-3.89

Aditya Birla Nuvo

745.55

-3.69

Market Statistics

BSE

NSE

Advances

1,572

965

Declines

1,150

675

Volumes (Rs crore)

Cash (BSE+NSE)

13,628

F&O (NSE)

152,135

Market Outlook: Data released in the US on Thursday - GDP, Jobless Claims and Consumer Sentiment.

Market sentiment
The market breadth stood strong. Of the 2841 stocks traded on the BSE, 1572 (55.33%) gained, 1150 (40.48%) fell and 119 (4.19%) were unchanged.

Viewing volumes
Wind turbine major - Suzlon Energy was traded the most, with over 0.50 crore shares changing hands on the BSE. Following that, India's second largest developer - Unitech (0.39 crore shares), a Jaypee Group firm - Jaiprakash Associates (0.27 crore shares), a sugar making company - Shree Renuka Sugars (0.23 crore shares) and India's largest automobile company - Tata Motors (0.22 crore shares).

Sectoral & stock screening
Among the 13 Sectoral indices, only two were in red. Losers - BSE IT down by 1.20% and BSE TECk down by 1.10%. Top Gainers - BSE Realty up by 2.91%, BSE Bankex up by 2.27% and BSE Power up by 1.97%.

Among 'A' group stocks, top three gainers - Hindustan Copper gained by 16%, Jaypee Infratech up by 11% and Ashok Leyland jumped by 11%. Top three losers - Mphasis dipped by 5%, Rural Electrification Corporation slipped by 4% and Aditya Birla Nuvo fell by 4%.

Global signals
The European stocks rose on Thursday (December 22, 2011), reversing all of the previous session's losses, but nagging worries over the euro zone debt crisis after the European Central Bank's 3-year tender were seen capping the rebound ahead of the holiday break.

The Asian stock markets ended mostly lower on Thursday, as doubts emerged on whether banks would use cheap emergency ECB loans to buy Italian and Spanish debt to solve the continent's spiraling debt crisis. The only gainer was Jakarta Composite.

The US Stock index futures pointed to a higher open on the Wall Street on Thursday.

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Muthoot Finance Ltd NCD - Issue Opens on 22 Dec 2011 on First-come-first-serve basis

2011-12-22T04:19:00.000+05:30

Issue of secured non-convertible debentures (NCDs) on first-come-first-serve basis

Issuer	Muthoot Finance Ltd
Issue	Public issue of NCDs aggregating up to Rs300 crore with an option to retain over-subscription up to Rs300 crore.
Issue opens	December 22, 2011
Issue closes	January 7, 2012
Stock exchange proposed for listing of the NCDs	BSE
Issuance and trading	Compulsorily in dematerialised form
Trading lot	1 (one) NCD
Depositories	NSDL and CDSL
Rating	AA-/Stable by CRISIL and ICRA
Pay-in date	3 (Three) business days from the date of receipt of application or the date of realisation of the cheques/demand drafts, whichever is later.
Deemed date of allotment	Shall be the date as decided by the duly authorised committee of the board constituted by resolution of the board dated July 25, 2011.
Day count basis	Actual/Actual
Security	First pari passu charge on the identified immovable property and a first pari passu charge on current assets, book debts, loans and advances, and receivables including gold loan receivables.
Who can apply	Please refer to the terms and conditions.

Specific terms of the issue

Options	I	II	III	IV
Frequency of interest payment	Annual	Annual	Annual	Cumulative
Minimum application	Rs5,000 (5 NCDs; for all options of NCDs, namely Options I, Option II, Option III, and Option IV either taken individually or collectively)
In multiples of (in Rs)	1,000 (1 NCD)	1,000 (1 NCD)	1,000 (1 NCD)	1,000 (1 NCD)
Mode of interest payment	Through various options available
Face value of NCDs (in Rs)	1,000	1,000	1,000	1,000
Issue price (per NCD - in Rs)	1,000	1,000	1,000	1,000
Coupon rate (%) for NCD	13.00	13.25	13.25	NA
Effective yield (% per annum)	13.00	13.25	13.25	13.43
Tenor (in months)	24	36	60	66
Redemption date (in months from the deemed date of allotment)	24	36	60	66
Redemption amount (in Rs; per NCD)	Repayment of the face value plus any interest that may have accrued on the redemption date.			2000

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Derivatives Info Kit

2011-12-21T23:35:00.000+05:30

Derivatives Info Kit

[For December 22, 2011]

Sharekhan
www.sharekhan.com

Summary of Contents

DERIVATIVES INFO KIT

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Eagle Eye: Bounce

2011-12-21T20:48:00.000+05:30

Eagle Eye (equities)

[For December 22, 2011]

Sharekhan
www.sharekhan.com

Summary of Contents

PUNTER'S CALL

Bounce
The Nifty has closed in the positive today and is now expected to trade higher till 4807...

SMART CHART CALLS

MOMENTUM CALLS

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Post-market: A pullback rally; Sensex zooms 510 points on global support

2011-12-21T18:39:00.000+05:30

December 21, 2011 | 5:30 PM

A pullback rally; Sensex zooms 510 points on global support
It was a strong pullback rally after five consecutive days of losses. The Sensex advanced by 510 points and the Nifty surged by 149 points

Major headlines

Indian indices
Today's big rally was led by healthy global cues after strong US housing starts data, unexpected improvement in the German business sentiment index and better-than-expected Spanish bond auctions.

Investors cheered encouraging data, with buying interest seen across the board. Banks, oil & gas, consumer durables, technology and metal stocks led the upmove. Strong gains in RIL, ICICI Bank, HDFC, HDFC Bank, Bharti Airtel, M&M and TCS contributed majorly in today's rally. During the day, the Nifty touched the 4700 mark.

Sensex movements: Buoyant global equities led the Sensex to open the trade 313 points higher at 15488 and remained in the positive territory for the rest of the day. The index maintained its uptrend on good buying interest and positive global cues. In the late trade, buying intensified across the board and strong gains in the European stocks led the index to touch the day's high of 15727. The The Sensex shot up by 510 points to settle at 15685 and the Nifty rose 149 points to close at 4693.

INDEX PERFORMANCE

Index

Close

% chg

Sensex

15,685.21

3.36

Nifty

4,693.15

3.28

MARKET INDICATORS

Top Movers (Group A)

Company

Price (Rs)

% chg

Gainers

Indiabulls Real Estate

46.95

10.86

Reliance Comm

67.65

8.76

JSW Steel

509.30

8.35

Losers

Pantaloon Retail

129.85

-4.84

Indian Hotels

52.35

-3.86

IRB Infra

138.35

-3.49

Market Statistics

BSE

NSE

Advances

1,658

1,027

Declines

1,097

702

Volumes (Rs crore)

Cash (BSE+NSE)

13,976

F&O (NSE)

144,641

Market Outlook: In the US, Existing Home Sales and EIA Petroleum Status Report will be out on Wednesday

Market sentiment
The market breadth stood healthy. Of the 2867 stocks traded on the BSE, 1658 (57.83%) gained, 1097 (38.26%) fell and 112 (3.91%) were unchanged.

Viewing volumes
Wind turbine major - Suzlon Energy was traded the most, with over 0.47 crore shares changing hands on the BSE. Following that, a Jaypee Group firm - Jaiprakash Associates (0.41 crore shares), an India-based agri-business company - Jain Irrigation Systems (0.34 crore shares), one of the largest listed real estate companies in India - Indiabulls Real Estate (0.30 crore shares) and an India-based tyre manufacturer - Apollo Tyres (0.29 crore shares).

Sectoral & stock screening
All the 13 sectors closed strong. The top most gainers - BSE Bankex up by 4.92%, BSE CD up by 4.10%, BSE Oil & Gas up by 3.72%, BSE TECk up by 2.84% and BSE Metal up by 2.65%.

Among 'A' group stocks, top three gainers - Indiabulls Real Estate gained by 10.86%, Reliance Communications advanced by 8.76% JSW Steel shot up by 8.35%. Top three losers - Pantaloon Retail down by 4.84%, Indian Hotels Company dipped by 3.86% and IRB Infrastructure slipped by 3.49%.

Global signals
The European stocks rallied on Wednesday (December 21, 2011) as investors priced in an improvement in the economic outlook and looked forward to a big take up by banks of the European Central Bank's first-ever offer of three-year loans.

The Asian stocks ended higher on Wednesday encouraged by smooth debt sales in Spain and positive housing data in the United States. However, Shanghai Composite was the only loser.

The US stock index futures pointed to a higher open on the Wall Street on Wednesday.

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