Thursday, February 28, 2013

MARKET SLIPS IN RED

Giving up all the gains, barometer gauges have suddenly ran out of their breath after the announcement of Union Budget 2013-14, lacking any big-bang announcements the budget failed to enthuse investor which had hoped big from the Finance Minister, P Chidambaram. The markets apparently had already factored in the good news of the economy being able to contain the fiscal deficit at 5.2% of the Gross Domestic Production (GDP) or 2012-13 and failed to find any further cues to hinge on. Thus sliding to intra-day's low. Benchmark 30 share index, Sensex, declined over 3/4 of a percent,to trade below the 19100 level. Likewise, Nifty too enticing losses was trading sub 5800 mark.
Budget brought some good news for textile stocks and Arvind and  Alok Industries,gained momentum after FM proposed Rs 2,400 crore for textile technology up-gradation. Additionally, Education stocks too hogged limie light after Chidambaram proposed to allocated Rs 65,877 crore to Education sector; representing 17% hike from 2013. The overall market breadth on BSE still remains in the favour of declines which have thumped advances in the ratio of 1160:1281, while 99 shares remained unchanged.
The BSE Sensex is currently trading at 19069.20, down by 83.21 points or 0.43% after trading in a range of 19322.28 and 19028.03. There were 16 stocks advancing against 14 declines on the index.
The broader indices were trading mixed; the BSE Mid cap index was down by 0.23% and Small cap index was up by 0.06%.
The top gaining sectoral indices on the BSE were, Realty up by 0.57%, TECk up by 0.24%, IT up by 0.17%, Consumer Durables up 0.15% and Capital Goods up by 0.07%, while Bankex down by 0.96%, Auto down by 0.74%, Oil & Gas down by 0.63%, Metal down by 0.48% and PSU down by 0.36% were the few losers on the BSE.
The top gainers on the Sensex were Coal India up by 2.62%, HDFC Bank up by 1.42%, Wipro up by 1.17%, Bharti Airtel up by 1.14% and Sun Pharma up by 0.79%.
On the flip side, ICICI Bank was down by 2.56%, Maruti Suzuki was down by 2.42%, SBI was down by 1.84%, Jindal Steel was down by 1.09% and Tata Steel was down by 1.07%  were the top losers on the Sensex.
Meanwhile, with the level of bilateral trade and investment between India and Russia remaining below its potential, President Pranab Mukherjee has called upon the two countries to make concerted efforts to take their two-way trade to $20 billion by 2015. 
Mukherjee, who met a parliamentary delegation from the Russian Federation on February 25, said that India-Russia ties were strong in diverse areas such as energy, defence, space, trade and economics, science and technology, culture and people-to-people ties, but the level of bilateral trade and investment, however, remained below potential.
He stated that Russia is a key partner and friend of India for many decades and that the India-Russia privileged strategic partnership was a unique and multi-dimensional relationship, characterized by stability and warmth. By adding further he said, that Russia remains a key priority for India's foreign policy and the India-Russia Strategic Partnership reflects its remarkable convergence of interests in bilateral spheres as well as on the global stage.
He said, 'India would like to see greater parliamentary exchanges between our parliaments at all levels. Frequent exchanges between the federal legislatures of both the countries can add another dimension to our vibrant and dynamic relationship.' Frequent exchanges between the federal legislatures of both the countries can add another dimension to our vibrant and dynamic relationship.
Even, the leader of the Russian parliamentary delegation, Matvienko said that India would remain a reliable and true friend of Russia, and the bilateral relations between these two countries had stood the test of time.
The CNX Nifty is currently trading at 5,784.70 down by 12.20 points or 0.21% after trading in a range of 5,849.90 and 5,756.40. There were 25 stocks advancing against 25 declines on the index.
The top gainers of the Nifty were Coal India up by 2.73%, DLF up by 1.93%, HDFC Bank up by 1.65%, Wipro up by 1.25% and Asian Paint up by 1.19%.
On the flip side, Maruti Suzuki down by 2.84%, ICICI Bank down by 2.51%, Punjab National Bank down by 2.39%, BPCL down by 2.24% and Lupin down by 1.97% were the major losers on the index.
All of the Asian equity indices were trading in the green; Shanghai Composite surged 2.14%, Hang Seng soared 1.57%, Jakarta Composite strengthened 1.31%, KLSE Composite rose 0.38%, Nikkei 225 zoomed 2.71%, Straits Times added 0.31%, KOSPI Composite increased 1.12% and Taiwan Weighted was up by 0.22%.

POSITIVE ON BUDGET DAY

Buoyed by firm global cues and positive outlook from the Economic Survey, Indian equity markets have made a gap-up start, prolonging their previous session's rally. Both the key gauges recaptured their crucial 19,250 (Sensex) and 5,800 (Nifty) levels ahead of Union Budget which will be presented by the Finance Minister P Chidambaram later in the day. Investors' have lots of expectations from the governments' last budget before going for election next year. While, every industry after putting their demand is awaiting for some positive outcome from the budget, the finance minister is likely to spell out plans to narrow fiscal and current account deficits as a major priority. Moreover, volumes would remain on the higher side as today is the expiry of February F&O series.
Global cues too supported the sentiments as all the Asian counters were trading higher at this point of time tracking overnight cues from the Wall Street. US stocks had ended higher on Wednesday on upbeat economic data and the Federal Reserve chief's commitment to lose the monetary policy. Back home, on the sectoral front, capital goods witnessed the maximum gain in trade followed by realty and public sector undertaking while, consumer durables, healthcare and fast moving consumer goods remained the few losers on the BSE sectoral space. The broader indices were going neck-to-neck with benchmarks while, the market breadth on the BSE was positive; there were 1,151 shares on the gaining side against 713 shares on the losing side while 77 shares remain unchanged.
The BSE Sensex opened at 19,264.80; about 112 points higher compared to its previous closing of 19,152.41, and has touched a high and a low of 19,322.28 and 19,244.76 respectively.
The index is currently trading at 19,261.77, up by 109.36 points or 0.57%. There were 25 stocks advancing against 5 declines on the index.
The overall market breadth has made a strong start with 58.74% stocks advancing against 36.92% declines. The broader indices were trading in-line with benchmarks; the BSE Mid cap and Small cap indices rose by 0.38% and 0.45% respectively. 
The top gaining sectoral indices on the BSE were, Capital Goods up by 1.41%, Realty up by 1.34%, PSU up by 0.82%, TECk up by 0.80% and IT up by 0.73% while, Consumer Durables down by 0.22%, Health Care down by 0.17% and FMCG down by 0.04% were the losers on the index.
The top gainers on the Sensex were Coal India up by 2.23%, L&T up by 1.79%, Tata Motors up by 1.57%, ONGC up by 1.38% and Wipro up by 1.16%.
On the flip side, Maruti Suzuki was down by 0.98%, Dr Reddys Lab was down by 0.52%, ITC was down by 0.37%, Gail India was down by 0.37% and Tata Steel was down by 0.06% were the top losers on the Sensex.
Meanwhile, in a report, the Finance Ministry has revealed that private banks operating in the country have detected and processed the maximum number of fake currency notes in banking channels surpassing both public sector and foreign banks by a huge margin.
For detecting fake currency notes and send such information to the Financial Intelligence Unit (FIU), all banks (private, public and foreign banks) in the country and similar financial intermediaries are mandated, under anti-money laundering laws and other rules related to national security. FIU is the premier intelligence gathering agency for such instances in the country, under the control of the finance Ministry.
The private banks contributed the maximum number of Counterfeit Currency Reports (CCRs) at 3,10,714, to the FIU during 2011-12, while, the public sector banks detected and sent only 2,649 such reports in the same period. Even foreign banks operating in the country sent 9,273 CCR reports, while the other banking intermediaries sent in 4,746 such reports in 2011-12, surpassing the public banks total volume of CCRs by few thousands.  
The public sector banks, which have the largest base of customers and investors in the country, have become a matter of concerns for the agency prompting immediate remedial measures because of their slow pace and low volume of compliance in this regard. In this regard, the FIU has approached the Reserve Bank of India (RBI) to get better results from public banks in this area of utmost concern. 
The CNX Nifty opened at 5,834.35; about 37 points higher as compared to its previous closing of 5,796.90, and has touched a high and a low of 5,849.90 and 5,820.60 respectively.
The index is currently trading at 5,823.55, up by 26.65 points or 0.46%. There were 37 stocks advancing against 13 declines on the index.
The top gainers of the Nifty were Coal India up by 2.17%, L&T up by 1.86%, ONGC up by 1.51%, Wipro up by 1.29% and Tata Motors up by 1.28%.
On the flip side, Ranbaxy down by 1.38%, BPCL down by 1.34%, Maruti Suzuki down by 0.93%, Dr Reddys Lab down by 0.56% and Lupin down by 0.49%, were the major losers on the index.
All of the Asian equity indices were trading in the green; Shanghai Composite surged 14.21 points or 0.61% to 2,327.43, Hang Seng soared 273.84 points or 1.21% to 22,850.85, Jakarta Composite strengthened 46.15 points or 0.98% to 4,762.56, KLSE Composite rose 2.98 points or 0.18% to 1,627.12, Nikkei 225 zoomed 244.83 points or 2.18% to 11,498.80, Straits Times added 1.88 points or 0.06% to 3,263.00, KOSPI Composite increased 19.54 points or 0.98% to 2,023.58 and Taiwan Weighted was up by 17.08 points or 0.22% to 7,897.98.
 

Tuesday, February 26, 2013

WEAKNESS PERSISTS

Indian equity markets continue trading weak, amid the presentation of the railway budget for 2013-14 in parliament. Investors continued selling at  several blue chip counters, amid lingering worries about the near term economic outlook. The Sensex fell 0.67%, while the Nifty was also down by 39.25 points. In currency markets, rupee depreciated on Tuesday on account of month-end dollar demand from importers. On sectoral front, key railway stocks remain laggard in a listless market amid railways budget announcement. Automobile, capital goods and banking stocks were trading in red, while information technology, fast moving consumer goods and media, entertainment and technology stocks rallied. On global front, Asian markets were trading in red and the euro hit its lowest in nearly seven weeks against the dollar as an apparently deadlocked election in Italy raised the spectre of a resurgent euro zone debt crisis. Back home, the market breadth favoring negative trend; there were 1,698 shares on the losing side against 644 shares on the gaining side while 115 shares remain unchanged.
The BSE Sensex is currently trading at 19,201.90, down by 129.79 points or 0.67% after trading in a range of 19,293.49 and 19,179.55. There were 8 stocks advancing against 22 declines on the index.
The broader indices were trading in red; the BSE Mid cap index was down by 1.23% and Small cap index down by 1.49%.
The top gaining sectoral indices on the BSE were, FMCG up by 1.26%, TECk up by 0.76% and IT up by 0.60%, while Auto down by 1.83%, Oil & Gas down by 1.71%, Capital Goods down by 1.58%, Metal down by 1.40% and PSU down by 1.24% were the top losers on the BSE.
The top gainers on the Sensex were Bharti Airtel up by 2.95%, ITC up by 1.92%, Hindustan Unilever up by 1.74%, Infosys up by 0.87% and TCS up by 0.70%.
On the flip side, Tata Motors down by 2.71%, ICICI Bank down by 2.42%, Hindalco down by 2.39%, ONGC down by 2.39% and Bajaj Auto down by 2.14% were the top losers on the Sensex.
Meanwhile, global rating agency, Standard & Poor's (S&P) sees Indian economic growth improving to 6.4% in FY14, which had earlier threatened to downgrade the country's sovereign rating to junk. As per the rating agency, 'the increased government welfare spending because of the next general elections, improvement in private consumption, lower interest rates and a better show by agriculture will lead to the growth number going up to 6.4% in FY14.'
Further, according to S&P, the growth number is also expected to go up further to 7.2% in FY15 as mining and power sectors will also start showing improvement. Moreover, it also retained its growth forecast for the current fiscal at 5.5%, half-a-percentage-point above the readings by the Central Statistical Organization (CSO).
However, as per rating agency's credit analyst Geeta Chugh, the relative uptick in growth has already been factored in the sovereign rating, which is the lowest investment grade rating and the worst amongst the BRIC. The recent measures taken by the government has boosted the investor's confidence and will lead to a gradual economic recovery, but cautioned that the agency would look for progress on the implementation front. 
Referring to specifics measures like the set-up of the Cabinet Committee on Investments (CCI) and a new land acquisition Bill, which are likely to be passed in the Budget session, Geeta said that the real effect of these measures, which have boosted investor confidence, will be visible only starting the second half of 2013. Further, economic recovery will take at least six to nine months and it will not be a V-shaped sharp recovery but a gradual one.
The CNX Nifty is currently trading at 5,815.50 down by 39.25 points or 0.67% after trading in a range of 5,838.85 and 5,807.10. There were 12 stocks advancing against 38 declines on the index.
The top gainers of the Nifty were Bharti Airtel up by 2.77%, HUL up by 1.90%, ITC up by 1.79%, DLF up by 1.27% and JP Associates up by 1.25%.
On the flip side, IDFC down by 2.80%, Tata Motors down by 2.74%, Hindalco down by 2.39%, ICICI Bank down by 2.35%, and Bajaj-Auto down by 2.22%, were the major losers on the index.
Asian equity indices were trading in red; Shanghai Composite was down by 0.26%. Hang Seng declined 0.80%, Jakarta Composite dropped 0.91%, KLSE Composite dipped 0.17%, Nikkei 225 tumbled 2.13%, Straits Times contracted 0.72%, KOSPI Composite decreased 0.47% and Taiwan Weighted was down by 0.84%

COMMODITIES TODAY

USDINR 5405.935      ----- 5368.065







SILVER 54341.95        --- 53662.05

LONG 53832.36 TARGET 54164.34 ST.LOSS 53677.99
SHORT 53986.21 TARGET 53775.03 ST.LOSS 54084.41






GOLD 29780.33       --- 29595.67

LONG 29602.68 TARGET 29718.41 ST.LOSS 29548.87
SHORT 29644.38 TARGET 29612.65 ST.LOSS 29659.13






CRUDE 5057.646      ---- 4980.354

LONG 5038.215 TARGET 5050.874 ST.LOSS 5032.329
SHORT 5056.273 TARGET 5006.814 ST.LOSS 5079.271






NICKEL 909.5916    ---- 891.6084

LONG 902.106 TARGET 906.9826 ST.LOSS 899.8383
SHORT 906.2778 TARGET 896.7212 ST.LOSS 910.7217






COPPER 425.5539     ---- 421.6461

LONG 422.635 TARGET 424.5366 ST.LOSS 421.7508
SHORT 423.5212 TARGET 422.2996 ST.LOSS 424.0892






N. GAS 191.3969
185.4031

LONG 185.9342       T 189.493 ST.LOSS 184.2794
SHORT 187.2432
186.0444 ST.LOSS 187.8006






ALUM 108.8752     ------ 107.4248







LEAD 125.05   ------- 123.35







ZINC 112.9277     ----- 111.6723

WEAK TRADE

Indian equities continued to trade weak in the late morning session as funds and retail investors booked profits ahead of the railway budget. On the global front, most of the Asian equity markets were trading lower at this point of time after signs of an inconclusive general election in Italy sparked worries that another chapter in Europe's debt crisis could be opening. The Japanese market was suffering a cut of over two percent as the companies that do business in Europe dropped. Back home, the traders were seen piling up position in TECk, IT and FMCG, while selling was seen in Auto, Capital Goods, and Oil & Gas sectors. In scrip specific development, Railways related stocks like Kernex Microsystems, Zicom Electronic, Titagarh Wagons, Kalindee Rail, Stone India were trading sharply lower ahead of the Rail Budget 2013-14.
In scrip specific actions, Kingfisher Airlines was locked at 5% lower circuit after the Ministry of Civil Aviation decided to withdraw all International Bilateral Traffic Rights allocated to the airline with immediate effect. BHEL was trading in red despite signing MOU with Indian Railways for a multiple unit coach factory at Bhilwara in Rajasthan. Meanwhile, the NSE Nifty and BSE Sensex were trading near their psychological 5800 and 19,200 levels respectively.
The market breadth on BSE was showing negative trend with advances to declines in ratio of 645:1334.
The BSE Sensex is currently trading at 19223.08, down by 108.61 points or 0.56% after trading in a range of 19293.49 and 19186.02. There were just 5 stocks advancing against 25 declines on the index.
The broader indices were trading in red; the BSE Mid cap index was down by 0.90% and Small cap index has lost 0.83%.
The top gaining sectoral indices on the BSE were, TECk up by 0.64%, IT up by 0.18% and FMCG up by 0.05%while Auto down by 1.36%, Capital Goods down by 1.16%, Oil & Gas down by 1.05%, Bankex down by 0.98% and Metal down by 0.94%were the losers on the BSE.
The top gainers on the Sensex were Bharti Airtel up by 3.60%, Hindustan Unilever up by 1.17%, ITC up by 0.98%, TCS up by 0.87% and Infosys up by 0.84%.
On the flip side, ICICI Bank was down by 2.18%, Tata Motors was down by 2.07%,  Maruti Suzuki was down by 1.93%, Hindalco Industries was down by 1.87%, and Bajaj Auto was down by 1.87% were the top losers on the Sensex.
Meanwhile, The second round of the 2G spectrum auction sale is expected to set up a flop show as there is no applicant for GSM band of radiowaves. While, for CDMA band, Russian Sistema's Indian joint venture, Sistema Shyam Teleservices (SSTL) is the only firm at close of deadline on Monday for applying to take part in the auction. 
The government has planned to conduct auction for spectrum unsold in November auction along with spectrum that is held by operators whose licences are due for renewal in 2014. It will auction 15 MHz of radio waves each in Delhi and Mumbai in the 1800 Mhz band, currently used for 2G GSM services, as against 4.4 Mhz and 13.2 Mhz respectively released in these circles through quashed permits.
However, in the second round of auctions in March, the government is expected to get around Rs 25,316 crore from the auction in the premium 900 Mhz band, and Rs 14,579 crore from auction of unsold spectrum in the 1800 Mhz band, while for CDMA, it is expected to get over Rs 6463 crore.
The CNX Nifty is currently trading at 5,818.60 down by 36.15 points or 0.62% after trading in a range of 5,838.85 and 5,810.45. There were 10 stocks advancing against 39 declines while 1stock remains unchanged on the index.
The top gainers of the Nifty were Bharti Airtel up by 3.63%, HUL up by 1.14%, JP Associates up by 0.96%, Infosys up by 0.93% and TCS up by 0.77%.
On the flip side, IDFC down by 2.51%, Tata Motors down by 2.19%, ICICI Bank down by 2.14%, Bajaj-Auto down by 2.12%, and Maruti down by 2.02%, were the major losers on the index.
Most of the Asian equity indices were trading in the red; Hang Seng declined 196.07points or 0.86% to 22,624.01, Jakarta Composite dropped 42.56 points or 0.91% to 4,652.54, KLSE Composite dipped 2.74 points or 0.17% to 1,624.61, Nikkei 225 tumbled 252.04 points or 2.16% to 11,410.48, Straits Times contracted 16.23 points or 0.54% to 3,270.87 KOSPI Composite decreased 10.82 points or 0.54% to 1,998.70 and Taiwan Weighted was down by 61.86 points or 0.78% to 7,885.82.
On the flip side, Shanghai Composite was up by 8.08 points or 0.35% to 2,333.90.

Monday, February 25, 2013

COMMODITIES TODAY


USDINR 5436.942      ----- 5399.058







SILVER 54231.62        --- 53168.38

LONG 53571.19 TARGET 54001.44 ST.LOSS 53371.12
SHORT 53813.46 TARGET 53393.21 ST.LOSS 54008.88






GOLD 29762.27       --- 29395.73

LONG 29560.1 TARGET 29691.8 ST.LOSS 29498.85
SHORT 29643.95 TARGET 29482.25 ST.LOSS 29719.15






CRUDE 5081.917      ---- 5026.083

LONG 5056.794 TARGET 5073.161 ST.LOSS 5049.183
SHORT 5069.626 TARGET 5041.259 ST.LOSS 5082.817






NICKEL 927.8777    ---- 903.1223

LONG 911.4362 TARGET 922.1473 ST.LOSS 906.4555
SHORT 917.0464 TARGET 907.9753 ST.LOSS 921.2645






COPPER 427.3577     ---- 418.8423

LONG 424.6821 TARGET 426.4252 ST.LOSS 423.8715
SHORT 426.6755 TARGET 421.5724 ST.LOSS 429.0485






N. GAS 182.7316
180.0684

LONG 178.4756       T 181.2482 ST.LOSS 177.1863
SHORT 179.044
179.7114 ST.LOSS 178.7337






ALUM 110.2777     ------ 107.4223







LEAD 125.9844   ------- 123.2156







ZINC 114.0047     ----- 110.7953

FLAT START

Indian equity benchmarks have made a flat start and are hovering near their pre-close mark as market participants' trade cautiously on account of February month derivative expiry and the Union Budget 2013-14. The global cues remained supportive as the US markets bounced back and ended higher on Friday, reducing their weekly losses on some supportive European cues. Asian markets too traded firmly in the early trade on Monday with investors still picking up shares battered by last week's steep plunge.
Back home, sentiments got some support as select non-banking finance companies (NBFC) shares like Mahindra & Mahindra Financial Services, L&T Finance Holdings, Bajaj Finserv, Bajaj Finance and Reliance Capital all edged higher in early morning deals after the Reserve Bank of India (RBI) issued guidelines for the new bank licences, which will pave the way for both corporate entities and NBFC to begin banking operations. The most important thing is that RBI has not excluded companies or entities from any specific industry from applying for a new bank licence. In other development, the government has exempted merger and takeover plans for loss-making and failing banks from the purview of fair trade regulator Competition Commission for a period of five years.
On the sectoral front, software witnessed the maximum gain in trade followed by technology and auto while, oil and gas, realty and fast moving consumer goods remained the top losers on the BSE sectoral space. The broader indices were outperforming benchmarks while, the market breadth on the BSE was positive; there were 1,044 shares on the gaining side against 798 shares on the losing side while 97 shares remain unchanged.
The broader indices were outperforming benchmarks while, the market breadth on the BSE was positive; there were 1,005 shares on the gaining side against 739 shares on the losing side while 89 shares remain unchanged.
The BSE Sensex opened at 19,365.33; about 48 points higher compared to its previous closing of 19,317.01, and has touched a high and a low of 19,382.89 and 19,280.46 respectively. The index is currently trading at 19,323.23, up by 6.22 points or 0.03%. There were 17 stocks advancing against 13 declines on the index.
The overall market breadth has made a positive start with 55.31% stocks advancing against 39.69% declines. The broader indices too were outperforming with benchmarks; the BSE Mid cap and Small cap indices rose 0.38% and 0.28% respectively.
The top gaining sectoral indices on the BSE were, IT up by 1.44%, TECk up by 1.20%, Auto up by 0.64%, Power up by 0.63% and Health Care up by 0.11%. While, Oil & Gas down by 0.91%, Realty down by 0.36%, FMCG down by 0.31%, Capital Goods down by 0.17% and PSU down by 0.12%  were the only losers on the index.
The top gainers on the Sensex were Infosys up by 1.84%, Wipro up by 1.74%, Tata Motors up by 1.57%, Maruti Suzuki up by 0.87% and TCS up by 0.78%.
On the flip side, ONGC was down by 1.40%, Hero MotoCorp was down by 1.25%, Coal India was down by 1.13%, Cipla was down by 1.12% and RIL down by 1.00% were the top losers on the Sensex.
Meanwhile, concerned over the industrial unrest witnessed during the two-day nation-wide strike, Planning Commission Deputy Chairman Montek Singh Ahluwalia said, revival in economic growth will help combat industrial tension. As per Ahluwalia, when the industry is back into a normal state, many other tensions like strikes and spiraling prices will go down. 
Around 11 trade unions have called a strike on February 20 and 21 against strict enforcement of labour laws, spiraling prices, creation of social security net for workers in unorganized sector as well as raising minimum wages to Rs 10,000 per month, among others. Industry body Assocham said that the GDP may lose about Rs 26,000 crore due to the strike which has impacted industrial activity and services such as banking and finance.
While addressing an event on leveraging employment generation in the 12th Five Year Plan, Ahluwalia stated the need of public private partnership (PPP) for employment generation and skill development as the number of people in India is not skilled.
Earlier also Ahluwalia emphasized on the fact that the government need to make sure that the young generation are educated and equipped with both the educational and skill weapons in order to deal with rapidly changing and increasingly globalizing world, which is a huge challenge for the country.
The S&P CNX Nifty opened at 5,870.55; about 20 points higher as compared to its previous closing of 5,850.30 and has touched a high and a low of 5,874.25 and 5,837.30 respectively. The index is currently trading at 5,848.75, down by 0.03 points or 0.01%. There were 26 stocks advancing against 24 declines on the index.
The top gainers of the Nifty were Ranbaxy up by 4.10%, Power Grid up by 1.88%, Infosys up by 1.71%, Wipro up by 1.71% and Tata Motors up by 1.66%.
On the flip side, BPCL down by 1.63%, DLF down by 1.55%, UltraTech Cement down by 1.51%, ONGC down by 1.45% and CIPLA down by 1.29%, were the major losers on the index.
Most of the Asian equity indices were trading in the green; Shanghai Composite rose 6.96 points or 0.30% to 2,321.12, Hang Seng increased marginally by 1.27 points or 0.01% to 22,783.71, Jakarta Composite jumped 22.54 points or 0.48% to 4,673.66, KLSE Composite added 3.38 points or 0.21% to 1,625.46, Nikkei 225 surged 194.20 points or 1.71% to 11,580.14 and Straits Times was up by 1.54 points or 0.05% to 3,289.67.
On the flip side, KOSPI Composite dipped 3.15 points or 0.16% to 2,015.74 and Taiwan Weighted was up by 12.08 points or 0.15% to 7,974.81.

Friday, February 22, 2013

COMMODITIES

USDINR 5474.066      ----- 5420.934







SILVER 54708.22        --- 53491.78

LONG 53706.65 TARGET 54359.14 ST.LOSS 53403.24
SHORT 53978.2 TARGET 53661.32 ST.LOSS 54125.56






GOLD 29947.46       --- 29428.54

LONG 29527.2 TARGET 29800.99 ST.LOSS 29399.89
SHORT 29643.72 TARGET 29503.54 ST.LOSS 29708.91






CRUDE 5140.543      ---- 5039.457

LONG 5106.44 TARGET 5128.657 ST.LOSS 5096.109
SHORT 5130.048 TARGET 5071.031 ST.LOSS 5157.491






NICKEL 927.5045    ---- 908.0955

LONG 912.4587 TARGET 922.2605 ST.LOSS 907.9009
SHORT 916.8171 TARGET 911.1353 ST.LOSS 919.4591






COPPER 433.0319     ---- 427.7681

LONG 429.1134 TARGET 431.6662 ST.LOSS 427.9264
SHORT 430.3051 TARGET 428.6523 ST.LOSS 431.0736






N. GAS 180.4578
173.3422

LONG 177.3523       T 179.3754 ST.LOSS 176.4116
SHORT 179.0265
175.3234 ST.LOSS 180.7484






ALUM 112.1497     ------ 110.9503







LEAD 127.4286   ------- 125.2714







ZINC 115.5296     ----- 114.0704

FLAT OPENING

After witnessing biggest selloff since July 2012 in previous session, Indian equity benchmarks have made a flat opening with 50-share Nifty index holding key 5,850 levels in morning trades supported buying in software and technology counters. Investors kept themselves busy in piling up positions in Infosys, TCS, Wipro, HCL Technologies and Tech Mahindra on the back of Gartners' report that healthcare providers' spending on IT will increase by seven percent this year. Sentiments also got some boost from rise in state-owned oil marketing companies like BPCL, HPCL and IOC on the back of plunge in crude oil prices on getting some weak economic data and as the Energy Information Administration (EIA) showed oil stockpile in the US increased more than expected.
However, investors shrugged off sluggish global cues as the US markets extended their declining trend on Thursday, though there was some recovery in the late trade but traders continued cashing in on the recent strength in the markets and were concerned after Labor Department's report showing that initial jobless claims climbed to 362,000 in the week ended February 16. While, Asian counters exhibited mixed trend in early trade on Friday.
Back home, on the sectoral front, software witnessed the maximum gain in trade followed by technology and realty while, auto, consumer durables and fast moving consumer goods remained the top losers on the BSE sectoral space. The broader indices were going neck-to-neck with benchmarks while, the market breadth on the BSE was positive; there were 895 shares on the gaining side against 904 shares on the losing side while 97 shares remain unchanged.
The BSE Sensex opened at 19,341.90; about 16 points higher compared to its previous closing of 19,325.36, and has touched a high and a low of 19,366.64 and 19,299.53 respectively.
The index is currently trading at 19,339.94, up by 14.58 points or 0.08%. There were 13 stocks advancing against 17 declines and one stock remains unchanged on the index.
The overall market breadth has made a strong start with 49.22% stocks advancing against 42.48% declines. The broader indices were trading in-line with benchmarks. The BSE Mid-cap index was up by 0.08% while Small-cap index was down by 0.11%.
The top gaining sectoral indices on the BSE were, IT up by 1.14%, TECk up by 1.06%, Realty up by 0.95% Oil & Gas up by 0.77% and Health Care up by 0.31%, while Auto down by 1.01%, Consumer Durables down by 0.41%, FMCG down by 0.30%, Metal down by 0.28% and Capital Goods down by 0.11% were the losers on the index.
The top gainers on the Sensex were Sun Pharma up by 1.66%, ONGC up by 1.52%, Bharti Airtel up by 1.52%, Infosys up by 1.27% and Wipro up by 1.18%.
On the flip side, HDFC was down by 2.45%, Tata Motors was down by 2.35%, Hindustan Unilever was down by 1.11%, Mahindra & Mahindra was down by 0.94% and Maruti Suzuki down by 0.75% were the top losers on the Sensex.
Meanwhile, as per Planning Commission Deputy Chairman Montek Singh Ahluwalia, 12th Five Year Plan (2012-17) emphasis not merely on economic development but on inclusive growth to bring more poor and marginal people under its ambit. While addressing an event, Ahluwalia said in the 12th plan, we have actually set out a different objective for inclusive growth also.
Regarding the inclusive growth, he said that regionally balanced inclusive growth rate makes every state able to do better than the past, which narrows the gap between different communities and also brings gender equality, upliftment of women, improving their educational condition and social status.
By adding further, he said a number of policies and implementation by the state governments is required to achieve a high inclusive growth in 12th five year plan. Ahluwalia said 'in the 12th plan the most interesting things we find is that the states which were earlier viewed as being backward have now begun to improve their growth quite substantially.'
Expressing view on the economic growth, Ahluwalia said that presently the economy is growing at the low rate of 5 percent or little bit more than that and we are concerned for it because lower growth means less jobs. He added that for the next five years, we can expect an average of about 8 percent economic growth.
Further, to achieve high economic growth in future, the government need to make sure that the young generation are educated and equipped with both the educational and skill weapons in order to deal with rapidly changing and increasingly globalizing world, which is a huge challenge for the country.
The CNX Nifty opened at 5,837.95; about 14 points lower as compared to its previous closing of 5,852.25, and has touched a high and a low of 5,862.30 and 5,837.75 respectively.
The index is currently trading at 5,852.05, down by 0.20 point. There were 25 stocks advancing against 25 declines and one stock remains unchanged on the index.
The top gainers of the Nifty were Bharti Airtel up by 1.70%, DLF up by 1.58%, Sun Pharma up by 1.45%, ONGC up by 1.44% and Wipro up by 1.43%.
On the flip side, HDFC down by 2.36%, Tata Motors down by 2.25%, JP Associate down by 1.74%, Hindustan Unilever down by 1.27% and M&M down by 0.98%, were the major losers on the index.
Asian equity indices were trading mixed; Shanghai Composite slipped 0.42 points or 0.02% to 2,325.53, Hang Seng decreased 62.01 points or 0.27% to 22,844.66, Jakarta Composite dipped 4.59 points or 0.10% to 4,627.81 and Straits Times was down by 6.15 points or 0.19% to 3,281.45.
On the flip side, KLSE Composite rose 1.89 points or 0.12% to 1,615.94, Nikkei 225 added 35.50 points or 0.31% to 11,344.63, KOSPI Composite surged 10.25 points or 0.51% to 2,025.47 and Taiwan Weighted was up by 6.03 points or 0.08% to 7,963.49.

Thursday, February 21, 2013

WEAKNESS

Indian benchmarks have extended their losses in the late morning session. Sentiments got dampened on weak trend in the Asian trade. Trade is expected to remain range-bound until the 2013/14 Budget is unveiled on February 28, in a critical test of whether the Government will announce a plan to contain the fiscal and current account deficits .On the global front, most of the Asian markets were trading in the red with Japanese Nikkei tumbling by over a percent as exporters and construction equipment makers dropped, tugging the market slightly below a 52-month high tapped the previous day. Back home, the traders were seen piling up position in Metal, Capital Goods and FMCG, while selling was seen in Consumer Durables sector. In scrip specific development, Metal stocks like Hindalco, JSW Steel, Jindal Steel, Sesa Goa and Sterlite Industries edged lower as LMEX, a gauge of six metals traded on the London Metal Exchange, fell 0.92% to 3,482.10 on February 20, 2013. NTPC was trading in red despite the Cabinet Committee on Investment giving approval to the company to set up the 1,980 megawatts North Karanpura Super Thermal Power Plant in Jharkhand. Shriram Transport Finance' shares dropped after US private equity firm TPG Capital planned to sell part of its stake in the company to raise about $300 million. Meanwhile, the NSE Nifty and BSE Sensex were managing to trade near their psychological 5850 and 19,400 levels respectively.
The market breadth on BSE was showing negative trend with advances to declines ratio of 635:1321.
The BSE Sensex is currently trading at 19478.18, down by 164.57 points or 0.84% after trading in a range of 19554.65 and 19447.64. There were 5 stocks advancing against 25 declines on the index.
The broader indices were trading in green; the BSE Mid cap index was up by 0.53% and Small cap index was up by 0.61%.
The top losing sectoral indices on the BSE were, Metal down by 1.91%, Capital Goods down by 1.51%, FMCG down by 1.10%, Bankex down by 0.92% and Realty down by 0.89% while, Consumer Durables up by 0.35% was the only gainer on the index.
The top gainers on the Sensex were Wipro up by 0.49%, Bajaj Auto up by 0.37%, Tata Power up by 0.31%, Cipla up by 0.21% and Gail India up by 0.04%.
On the flip side, Sterlite Industries was down by 2.84%,  Hindalco Industries was down by 2.42%, Jindal Steel was down by 2.23%,  Tata Steel was down by 1.86% and L&T was down by 1.84% were the top losers on the Sensex.
Meanwhile, with a view to contain the surging current account deficit, the Reserve Bank of India (RBI) has tightened norms for import of precious and semi-precious stones by imposing a limit of 90 days towards letter of credit.
The RBI, in its notification, said 'suppliers and buyers, credit (trade credit) including the usance period of Letters of Credit opened for import of precious stones and semi-precious stones should not exceed 90 days from the date of shipment'. The revised directions will come to force with immediate effect.
A letter of credit is issued by a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.
As per this norm, banks are permitted to approve the Suppliers' and Buyers' credit through the letter of credit opened for import of precious stones in any form for a period not exceeding 90 days from the date of shipment. It is also applicable for jewellery made of gold, precious metal, semi-precious, any studded with diamond and precious stone. The S&P CNX Nifty is currently trading at 5,893.65 down by 49.40 points or 0.83% after trading in a range of 5,921.15 and 5,886.55. There were 9 stocks advancing against 50 declines while 1 stock remains unchanged on the index.
The top gainers of the Nifty were HCL Tech up by 0.91%, Wipro up by 0.50%, Bajaj-Auto up by 0.47%, Cipla up by 0.21% and Grasim up by 0.16%.
On the flip side, Sesa Goa down by 2.59%, Jaiprakash Associates down by 2.55%, Hindalco down by 2.29%, Jindal Steel down by 2.24% and IDFC down by 2.00%, were the major losers on the index.
Most of the Asian equity indices were trading in the red; Shanghai Composite tumbled 65.57 points or 2.74% to 2,331.61, Hang Seng declined 395.91 points or 1.70% to 22,911.50, KLSE Composite dipped 9.14 points or 0.57% to 1,604.19, Nikkei 225 dropped 156.77 points or 1.36% to 11,312.21, Straits Times contracted 18.06 points or 0.52% to 3,291.29, KOSPI Composite decreased 9.36 points or 0.46% to 2,016.00 and Taiwan Weighted was down by 57.61 points or 0.76% to 7,967.80.
On the flip side, Jakarta Composite was up by 8.91 points or 0.19% to 4,643.37. 

COMMODITIES TODAY

SILVER 54665.86        --- 52676.14

LONG 53806.35 TARGET 54366.29 ST.LOSS 53545.97
SHORT 54273.68 TARGET 53232.94 ST.LOSS 54757.63






GOLD 29633.88       --- 29106.12

LONG 29554.75 TARGET 29606.3 ST.LOSS 29530.78
SHORT 29679.52 TARGET 29305.97 ST.LOSS 29853.22






CRUDE 5229.619      ---- 5074.381

LONG 5169.681 TARGET 5208.728 ST.LOSS 5151.524
SHORT 5206.157 TARGET 5120.31 ST.LOSS 5246.076






NICKEL 936.5322    ---- 907.8678

LONG 925.4604 TARGET 932.6733 ST.LOSS 922.1064
SHORT 932.202 TARGET 916.3491 ST.LOSS 939.5736






COPPER 434.9215     ---- 428.0785

LONG 432.9128 TARGET 434.2214 ST.LOSS 432.3043
SHORT 434.508 TARGET 430.3194 ST.LOSS 436.4557






N. GAS 179.4992
176.5008

LONG 177.7191       T 178.8787 ST.LOSS 177.1798
SHORT 178.4037
177.1641 ST.LOSS 178.9802






ALUM 113.0461     ------ 110.8539







LEAD 127.5401   ------- 125.4599







ZINC 115.3454     ----- 113.8546

GAP DOWN

Pressurized by feeble global cues, Indian equity benchmarks made a gap-down start with Sensex and Nifty declining below their crucial 19,500 and 5,900 levels. Overnight Wall Street ended lower as traders grew concerned that the US Federal Reserve could bring an early end to its huge stimulus programme. Minutes from the Fed's most recent policy board meeting showed some members in favour of cutting short the $85 billion-a-month bond-buying introduced last year to support the economy and which has helped lift global shares. While, most of the Asian markets too were trading in the red with Japanese Nikkei tumbling by over a percent in early deals as exporters and construction equipment makers dropped, tugging the market slightly below a 52-month high tapped the previous day.
Back home, cautious approach adopted by investors ahead of first day of Budget Session of Parliament also influenced the trading sentiment. Some pressure also came in after metal stocks like Hindalco, JSW Steel, Jindal Steel, Sesa Goa and Sterlite Industries all declined as LMEX, a gauge of six metals traded on the London Metal Exchange, fell 0.92% to 3,482.10 on February 20, 2013. On the sectoral front, metal witnessed the maximum loss in trade followed by capital goods and fast moving consumer goods while there were no gainers on the BSE sectoral space. The broader indices too were feeling the selling pressure while, the market breadth on the BSE was negative; there were 589 shares on the gaining side against 1,276 shares on the losing side while 82 shares remain unchanged.
The BSE Sensex opened at 19,549.05; about 93 points lower compared to its previous closing of 19,642.75, and has touched a high and a low of 19,554.65 and 19,463.86 respectively.
The index is currently trading at 19,475.13, down by 167.62 points or 0.85%. There were 3 stocks advancing against 26 declines on the index.
The overall market breadth has made a week start with 32.36% stocks advancing against 63.91% declines. The broader indices were trading in-line with benchmarks; the BSE Mid cap and Small cap indices decline 0.89% and 0.69% respectively.
The top losing sectoral indices on the BSE were, Metal down by 1.81%, Capital Goods down by 1.41%, FMCG down by 1.20%, Realty down by 1.04% and Auto down by 0.92% while, there were no gainers on the index.
The top gainers on the Sensex were Wipro up by 0.63%, Cipla up by 0.34% and Bajaj Auto up by 0.18%.
On the flip side, Sterlite Industries was down by 2.89%,  Hindalco Industries was down by 2.10%, Tata Motors was down by 2.06%,  Tata Steel was down by 1.89% and L&T was down by 1.83% were the top losers on the Sensex.
Meanwhile, the government is likely to push key economic reform bills in areas such as insurance, pension and corporate law in the Budget Session of Parliament beginning on February 21. The budget for FY14, which will be preceded by economic survey, is scheduled to be announced on February 28 by Finance Minister P Chidambaram, will also address key issues like declining industrial output, widening fiscal deficit and decelerating economic growth.
The government's economic agenda includes passage and consideration of bills on insurance, pension and Food Security Law, which has been pending from long time. The insurance and pension bills is seeking to raise foreign direct investment (FDI) cap in the sector from 26 percent to 49 percent, while the Food Security Bill seeks to provide subsidized food grain to people below poverty line.
However, more than 70 items, including 16 new Bills, are part of the government's business for the budget session of parliament. The session, which will have 34 sittings in two laps, will begin on Feb 21. Other important economic reforms bills on the economic agenda includes Forward Contracts (Regulation) Amendment Bill, Agricultural Bio Security Bill, the Biotechnology Regulatory Authority of India Bill and the Companies Bill, which is yet to be vetted by the Rajya Sabha.
The S&P CNX Nifty opened at 5,909.65; about 33 points lower as compared to its previous closing of 5,943.05, and has touched a high and a low of 5,921.15 and 5,901.15 respectively.
The index is currently trading at 5,901.25, lower by 41.80 points or 0.70%. There were 6 stocks advancing against 44 declines on the index.
The top gainers of the Nifty were Wipro up by 0.72%, HCL Tech up by 0.70%, Grasim up by 0.51%, Cipla up by 0.48% and Bajaj-Auto up by 0.28%.
On the flip side, Jaiprakash Associates down by 2.75%, Sesa Goa down by 2.38%, Hindalco down by 1.97%, IDFC down by 1.97% and Tata Motors down by 1.96%, were the major losers on the index.
Most of the Asian equity indices were trading in the red; Shanghai Composite tumbled 65.57 points or 2.74% to 2,331.61, Hang Seng declined 409.78 points or 1.76% to 22,897.63, KLSE Composite dipped 8.73 points or 0.54% to 1,604.60, Nikkei 225 dropped 150.67 points or 1.31% to 11,317.61, Straits Times contracted 18.28 points or 0.55% to 3,290.61, KOSPI Composite decreased 10.98 points or 0.54% to 2,013.66 and Taiwan Weighted was down by 65.26 points or 0.81% to 7,963.84.
On the flip side, Jakarta Composite was up by 6.84 points or 0.15% to 4,641.29.

Wednesday, February 20, 2013

JUST IN GREEN

Indian equity markets relinquishing all their gains, are languishing at their lower levels of the day, with benchmark 30 share index Sensex, having slipped into red territory and 50 share index Nifty sticking out its neck just in green, above its 5900 level. Sustained selling pressure by wary investor's ahead of budget session of Parliament that will begin on February 21 with President Pranab Mukherjee's first address to the joint sitting of the Lok Sabha and the Rajya Sabha, mainly have worn out bourses' gains. On the global front, Asian shares continued to trade upbeat, buoyed by rising global equities overnight on an improving global economic outlook, while the yen resumed its decline. Closer home, besides rally of Realty, Oil & Gas and Information Technology, PSU OMCs edged higher on renewed buying. On the flip side, besides profit-booking in Consumer Durable, Fast Moving Consumer Goods and Capital Goods counters along with telecom stocks were trading lower after Department of Telecom (DoT) decided to auction 900 mhz spectrum as planned earlier. The overall market breadth on BSE is in the favour of advances which have thumped declines in the ratio of 1357:1054, while 139 shares remained unchanged.
The BSE Sensex is currently trading at 19632.39, down by 3.33 points or 0.02% after trading in a range of 19742.42 and 19629.66. There were 9 stocks advancing against 20 declines on the index, while 1 stock remained unchanged.
The broader indices continued to outperform frontline equity indices for fourth consecutive session; BSE Midcap and Small cap indices were trading higher by 0.10% and 0.53% respectively.
The top gaining sectoral indices on the BSE were, Realty up by 1.59%, Oil & Gas up by 1.21%, IT up by 0.34%, TECk up by 0.22% and PSU up by 0.07%. While, CD down by 0.99%, FMCG down by 0.47%, CG down by 0.33% Metal down by 0.28% and Auto down by 0.18% were the top losers on the index.
The top gainers on the Sensex were RIL up by 2.04%, Wipro up by 0.94%, Hero MotoCorp up by 0.82%, Coal India up by 0.77% and GAIL India up by 0.70%.
On the flip side, Cipla down by 1.14%, Hindustan Unilever down by 0.96%, Tata Motors down by 0.91%, Sterlite Industries down by 0.88% and Hindalco Industries down by 0.71% were the top losers on the Sensex.
Meanwhile, the government is likely to push key economic reform bills in areas such as insurance, pension and corporate law in the Budget Session of Parliament beginning on February 21. The budget for FY14, which will be preceded by economic survey, is scheduled to be announced on February 28 by Finance Minister P Chidambaram, will also address key issues like declining industrial output, widening fiscal deficit and decelerating economic growth.
The government's economic agenda includes passage and consideration of bills on insurance, pension and Food Security Law, which has been pending from long time. The insurance and pension bills is seeking to raise foreign direct investment (FDI) cap in the sector from 26 percent to 49 percent, while the Food Security Bill seeks to provide subsidized food grain to people below poverty line.
However, more than 70 items, including 16 new Bills, are part of the government's business for the budget session of parliament. The session, which will have 34 sittings in two laps, will begin on Feb 21. Other important economic reforms bills on the economic agenda includes Forward Contracts (Regulation) Amendment Bill, Agricultural Bio Security Bill, the Biotechnology Regulatory Authority of India Bill and the Companies Bill, which is yet to be vetted by the Rajya Sabha.
The S&P CNX Nifty is currently trading at 5,941.80, up by 2.10 points or 0.04% after trading in a range of 5,971.00 and 5,940.80. There were 24 stocks advancing against 26 declines on the index.
The top gainers of the Nifty were DLF up by 2.94%, Reliance up by 2.12%, BPCL up by 2.06%, Ambuja Cements up by 1.71% and HCL Tech up by 1.20%.
On the flip side, CIPLA down by 1.44%, HUL down by 0.67%, NTPC down by 0.65%, Maruti down by 0.65% and Tata Motors down by 0.57% were the major losers on the index.
 Most of the Asian equity indices were trading in the green; Shanghai Composite up by 0.53%, Hang Seng rose 0.11%, Jakarta Composite strengthened 0.51%, Nikkei 225 increased 0.84%, Straits Times added 0.21%, KOSPI Composite surged 1.95% and Taiwan Weighted was up by 0.86%.  On the flip side, KLSE Composite was down by 0.26% was the lone loser amongst the Asian pack.