FIRM TADE

Indian equities  continued firm trade in green in the late morning session. While, Asian markets were trading in the green after Japan's cabinet approved a second economic stimulus package, while at the same time nation's industrial production unexpectedly increased since December. Industrial production in October increased 1.8 percent from the previous month, signaling a contraction in the world's third-largest economy may be short lived. Back home, India's gross domestic product (GDP) growth further slowed down to 5.3% in the second quarter (June-September) of 2012-13 compared with three year's low of 5.5 per cent in the first quarter, just in line with expectation. Further, quarterly GDP at factor cost at constant (2004-05) prices for Q2 of 2012-13 is estimated at Rs 12, 93,922 crore as against Rs 12,28,982 crore in Q2 of 2011-12. The traders were seen piling up position in Metal, Power and PSU sector while selling was witnessed in FMCG, Auto and Realty sector. In the scrip specific development, Venus Power surged on getting approval for land acquisition. Unity Infraprojects edged higher on bagging project worth Rs 138.00 crore. BHEL gained on executing orders for two 500 units of Anpara thermal power station. Indoco Remedies jumped on acquiring 60.04% stake in Indoco Industrial Designers & Engineers. PVR soared on inking pact to acquire 69.27% stake in Cinemax. The NSE Nifty and BSE Sensex were managing to hold their psychological 5,800 and 19000 levels. The market breadth on BSE was positive, in the ratio of 1336:876.
The BSE Sensex is currently trading at 19198.76 up by 27.85 points or 0.15% after trading in a range of 19323.52 and 19197.25. There were 17 stocks advancing against 13 declines on the index.
The broader indices were trading in green; the BSE Mid cap index was up by 0.68% and Small cap index was up by 0.53%.
The top gaining sectoral indices on the BSE were, Metal up by 1.38%, Power up by 0.87%, PSU up by 0.70%, IT up by 0.54% and CD up by 0.46% while, FMCG down by 1.03%, Auto down by 0.69% and Realty down by 0.28%  were only losers on the index.
The top gainers on the Sensex were HDFC up by 3.07%, Jindal Steel up by 3.03%, Sterlite Industries up by 2.85%, BHEL up by 2.38%, and ONGC up by 2.19%.
On the flip side, Tata Motors was down by 1.71%, Hindustan Unilever was down by 1.39%, HDFC Bank was down by 1.16% , Bajaj Auto was down by 1.10%, and Bharti Airtel was down by 1.01% were the top losers on the Sensex.
Meanwhile, Prime Minister-appointed Rangarajan Committee is expected to submit the report on changes in the present regime governing oil and gas exploration contracts as well as gas pricing by the first week of December. The committee is also likely to recommend a pricing formula, though it may refrain from a specific recommendation on the controversial issue of gas produced by Reliance Industries (RIL).

Chaired by C Rangarajan, chairman of the Prime Minister's Economic Advisory Council, the panel was set up in May, to suggest changes in existing oil & gas exploration contracts with energy firms to minimize monitoring of expenditure, fix system to determine domestically produced natural gas price and modify existing profit-sharing mechanism, which, according to the national auditor, favoured private energy firms. However, the six-member Committee was previously to submit report by October 31 but was granted a month's extension.

Moreover, the panel in its draft report suggested for sweeping changes in the present format of Production Sharing Contract (PSC), demanding the government to move to a production-linked payment regime where explorers bid for a percentage of output they would share with the government.  And also the committee will suggest on the structure and basis for pricing of natural gas.  
The S&P CNX Nifty is currently trading at 5,834.80, up by 9.80 points or 0.17% after trading in a range of 5,865.85 and 5,831.85. There were 28 stocks advancing against 21 declines while 1 stock remains unchanged on the index.
The top gainers of the Nifty were Jindal Steel up by 12.50%, HDFC up by 2.97%,BHEL up by 2.84%, HCL Tech up by 2.55%, Hero Moto up by 2.15% and.
On the flip side, Ranbaxy was down by 2.18%, Tata Motors was down by 1.98%, Hindustan Unilever was down by 1.72%, Bharti Airtel was down by 1.36% and  Ultratech Cement was down by 1.29% were the top losers on the Nifty.
The Asian markets were trading in green; Shanghai Composite was up by 10.94 points or 056% to 1,974.43, KLSE Composite up by 4.03 points or 0.25% to 1,611.35, Taiwan Weighted was up by 67.20 points or 0.90% to 7,570.59, Seoul Composite gained 0.62 points or 0.03% to 1,935.26, Nikkei 225 gained 66.01 points or 0.70% to 9,465.92, Straits Times gained 35.73 points or 1.19% to 3,081.51, and Hang Seng was up by 119.31 points or 0.54% to 119.31.
On the other hand, Jakarta Composite was down by 28.21 points or 0.65% to 4,290.88.

MARKETS HOLD ON THE GAINS

Indian equities continued to trade in fine fettle on back of strong buying in frontline counters in the late morning session. While, most of the Asian markets were trading in the green after Euro zone finance ministers and the International Monetary Fund clinched agreement on reducing Greece's debt. Traders were seen piling up position in Realty, Bankex and CD sector. In the scrip specific development, Jet Airways was trading in red after the company denied media reports that it may sell its stake to Etihad Airways. Further, Symphony rose on plan to increase its cooler range. Biocon soared on entering into academic partnership with Trinity College of Dublin. Tata Steel surged on plan to commission first phase of the Kalinganagar project. IndusInd Bank jumped on plans to raise up to $360 million by share sale. Aptech gained on offering IT career courses in Nepal. Muthoot Finance edged higher on the buzz of applying for white label ATMs license.
The NSE Nifty and BSE Sensex were managing to hold their psychological 5,700 and 18700 levels. The market breadth on BSE was positive, in the ratio of 1436:702.
The BSE Sensex is currently trading at 18766.68 up by 229.67 points or 1.24% after trading in a range of 18767.79 and 18616.55. All 30 stocks of the index were trading in green.
The broader indices were trading in green; the BSE Mid cap index was up by 0.89% and Small cap index was up by 0.69%.
The top gaining sectoral indices on the BSE were, Realty up by 1.27%, Bankex up by 1.51%, CD up by 1.18%, FMCG up by 1.17% and CG up by 1.15%.
The top gainers on the Sensex were HDFC up by 2.73%, HDFC Bank up by 2.65%, Jindal Steel up by 2.46%, Bajaj Auto up by 1.70% and Sterlite Industries up by 1.63%. While, there were no losers on the index.
Meanwhile, the ailing Indian Capital Goods industry has got a voice, as the Minister of Heavy Industry and Public Enterprises Praful Patel has pitched for incentivizing capital goods, particularly for exports. The minister said that strengthening of manufacturing sector, particularly the capital goods sector would bring down the heavy dependence on imports.

Praful Patel cited the example of China which provide support to its capital goods sector and said that 'we certainly have a case for incentivizing exports of capital goods what we produce in the country. Other countries are doing it.' He further stated 'Look at the defence industry, where we have to import almost everything, which entail a huge outgo of resources. We have to develop such facilities domestically and it is possible given our raw material base and talented pool of technocrats.'

The statement came in wake of engineering exports declining by about 10 per cent to $27.81 billion in the first half of the current fiscal due to slowdown in major western economies. The minister also called for support to the domestic manufacturing industry and said that there is a need for India to emerge as a manufacturing hub for capital goods industry not only for meeting domestic demand but also for exports. Though, the minister also emphasized that for the capital goods industry to grow it is important to have uninterrupted power supply and quality inputs like steel.
The S&P CNX Nifty is currently trading at 5,701.25, up by 65.35 points or 1.16% after trading in a range of 5,703.75 and 5,658.00. There were 48 stocks advancing against 2 declines on the index.
The top gainers of the Nifty were JP Associate up by 3.59%, HDFC Bank up by 2.82%, HDFC Bank up by 2.70%, Jindal Steel up by 2.54% and BPCL up by 2.35%.On the flip side, Power Grid down by 0.58% and Sun Pharma down by 0.01%, were only the losers on the index.
Most of the Asian equity indices were trading in the green; Kospi Composite up by 0.17%, Straits Times up by 0.20%, Nikkei 225 up by 0.55%, Taiwan Weighted up by 0.18%, and Hang Seng up by 0.16% While, Jakarta Composite  down by 0.29%, KLSE Composite down by 0.51% and Shanghai Composite was down by 0.94% were the losers.

STRONG START

Indian equity markets have made a good start and the major indices are trading up by about a percent in early trade tracking positive Asian markets. Though on the domestic front there is still no way out of the logjam in Parliament on the controversial issue of FDI in multi-brand retail, as the all party meet ended inconclusive yesterday. There were some hopes alive as the UPA allies will meet today to discuss how the logjam in Parliament can be resolved, however the government has reiterated that giving in to the oppositions demand for a vote in Parliament on an executive decision will set a bad precedent. Back on the street, there is all green on the sectoral front with banking stocks taking the lead, closely followed by FMCG and realty, IT sector too was trading high despite rupee gaining some strength against dollar after Euro zone finance ministers and the IMF clinched agreement on reducing Greece's debt. The telecom stocks too are buzzing after the RBI relaxed ECB norms for the successful bidders of the 2G auction held recently.
The market breadth on the BSE was positive; there were 1,172 shares on the gaining side against 402 shares on the losing side while 62 shares remain unchanged.
The BSE Sensex opened at 18,616.55; about 80 points higher compared to its previous closing of 18,537.01, and has touched a high and a low of 18,735.96 and 18,616.55 respectively. The index is currently trading at 18,725.62, up by 188.61 or 1.02%. All 30 stocks of the index were trading in green.
The overall market breadth has made a positive start with 71.64% stocks advancing against 24.57% declines. The broader indices were outperforming benchmarks; the BSE Mid cap and Small cap indices rose 0.71% and 0.78% respectively.
The top gaining sectoral indices on the BSE were, BANKEX up by 1.27%, CG up by 0.97%, FMCG up by 0.97%, Realty up by 0.94% and Metal up by 0.85%.
The top gainers on the Sensex were HDFC Bank up by 2.28%, HDFC up by 2.19%, Sterlite Inds up by 1.88%, ONGC up by 1.18% and ICICI Bank up by 1.17%. While, there were no losers on the index.
Meanwhile, ahead of the release of GDP figures for second quarter on November 30, by the Central Statistical Organisation (CSO), the Finance Minister P Chidambaram has indicated that growth of the economy slowed to 5.5 percent in July-September quarter of the current fiscal from 6.9 percent during the same period last year.
The growth remained 5.5 percent in first quarter too and the FM stated that 'When our growth declined to 5.5 percent in the first quarter of this financial year, and when growth is likely to be around 5.5 percent in the second quarter of this financial year, it goes without saying that we face a difficult situation.'
Lots of international and local agencies have scaled down the growth target of the Indian GDP; even the Reserve Bank has scaled down India's economic growth prospects for the fiscal to 5.8 percent from 6.5 percent. Chidambaram has called upon the banks to play an active role in reviving the economy and has said that there is a need to find innovative ways to increase output of goods and services to overcome the difficult economic situation.
However, regarding fiscal deficit he said that the government would stick to the borrowing programme announced in the Union Budget for the current financial year and will remain in the limit of the budgeted Rs 5.7 lakh crore for the entire financial year.
The S&P CNX Nifty opened at 5,658.50; about 23 points higher as compared to its previous closing of 5,635.90, and has touched a high and a low of 5,695.10 and 5,658.00 respectively.
The index is currently trading at 5,690.80, up by 54.90 points or 0.97%. All 50 stocks were advancing on the index.

The top gainers of the Nifty were JP Associate up by 2.64%, HDFC Bank up by 2.28%, HDFC up by 2.26%, BPCL up by 1.65% and Sesa Goa up by 1.55%.

The Asian markets were trading mixed; Shanghai Composite was down by 19.26 points or 0.95% to 1,998.20, KLSE Composite down by 8.15 points or 0.51% to 1,599.73, Jakarta Composite was down by 11.55 points or 0.21% to 4,365.12 and Taiwan Weighted was down by 0.44 points or 0.01% to 7,406.67.
On the other hand, Seoul Composite gained 17.21 points or 0.90% to 1,925.26, Nikkei 225 gained 28.47 points or 0.30% to 9,417.77, Straits Times gained 4.78 points or 0.14% to 3,008.58, and Hang Seng was up by 28.90 points or 0.13% to 21,890.71.

MARKETS CONTINUE TO TRADE IN GREEN

Indian equities pared gains but continued firm trade in green in the late morning session. While, most of the Asian markets were trading in the green on hope that Greece can avoid a near-term bankruptcy, with euro-zone finance ministers meeting later in the day. Back home, traders were seen piling up position in Metal, TECk and CD sector while selling was witnessed in PSU, Realty, Bankex sector. In the scrip specific development, Jet Airways edged higher on reports of a stake sale to Etihad Airways. Metal stocks were trading in green as LMEX, a gauge of six metals traded on the London Metal Exchange gained 1.18% on Friday, 23 November 2012. GlaxoSmithKline Consumer Healthcare locked at upper circuit on reporting that company's foreign parent GlaxoSmithKline Plc plans to raise its stake in the Indian firm to 75% from 43.16% through an open offer.
Further, SBI rose on inking pact with Sohan Lal Commodity Management. Tata Steel gained on plans to improve competitiveness of its UK operations. VA Tech Wabag soared on bagging order worth Rs 217 crore. Vascon Engineers surged on securing contract worth Rs 313.87 crore. Sesa Goa gained on plans to start importing iron ore for feeding pig iron plant in Goa. RIL rose on plans of entering Venezuela's oil and gas upstream space.
The NSE Nifty and BSE Sensex were managing to hold their psychological 5,600 and 18500 levels. The market breadth on BSE was positive, advances: declines in the ratio of 1352:929.
The index is currently trading at 18548.70, up by 42.13 points. There were 20 stocks advancing against 10 declines on the index.
The broader indices were outperforming benchmarks; the BSE Mid cap and Small cap indices rose 0.54% and 0.68% respectively.
The top gaining sectoral indices on the BSE were, Metal up by 1.02%, TECk up by 0.96%, CD up by 0.92%, HC up by 0.88% and IT up by 0.83%. While, PSU down by 0.45%, Realty down by 0.16% and Bankex down by 0.11% were the only losers on the index.
The top gainers on the Sensex were Sterlite Inds up by 2.39%, Tata Steel up by 2.06%, Dr Reddys Lab up by 1.63%, Hindalco up by 1.48%, and Hindustan Unilever up by1.37%.
On the flip side, Mahindra & Mahindra was down by 2.11%, NTPC was down by 0.82%, Sun Pharma  was down by 0.66%, BHEL was down by 0.62% and HDFC was down by 0.44% were the top losers on the Sensex.
Meanwhile, ahead of the release of GDP figures for second quarter on November 30, by the Central Statistical Organisation (CSO), the Finance Minister P Chidambaram has indicated that growth of the economy slowed to 5.5 percent in July-September quarter of the current fiscal from 6.9 percent during the same period last year.
The growth remained 5.5 percent in first quarter too and the FM stated that 'When our growth declined to 5.5 percent in the first quarter of this financial year, and when growth is likely to be around 5.5 percent in the second quarter of this financial year, it goes without saying that we face a difficult situation.'
Lots of international and local agencies have scaled down the growth target of the Indian GDP; even the Reserve Bank has scaled down India's economic growth prospects for the fiscal to 5.8 percent from 6.5 percent. Chidambaram has called upon the banks to play an active role in reviving the economy and has said that there is a need to find innovative ways to increase output of goods and services to overcome the difficult economic situation.

However, regarding fiscal deficit he said that the government would stick to the borrowing programme announced in the Union Budget for the current financial year and will remain in the limit of the budgeted Rs 5.7 lakh crore for the entire financial year.

The S&P CNX Nifty is currently trading at 5,635.20, up by 8.60 points or 0.15%. There were 32 stocks advancing against 18 declines on the index.
The top gainers of the Nifty were Tata Steel up by 1.89%, Sesa Goa up by 1.69%, Hindalco up by 1.53%, Asian paint up by 1.43% and Dr Reddys Lab up by 1.37%.
On the flip side, Mahindra & Mahindra down by 1.93%, Ultratech cement down by 1.58%, Ambuja cement down by 1.25% BPCL down by 0.95%, and BHEL down by 0.76%, were the major losers on the index.
Most of Asian markets were trading in green; Seoul Composite gained 0.01%, Jakarta Composite was up by 0.15%, Nikkei 225 gained 0.77%, Straits Times gained 0.60%, and Taiwan Weighted surged by 1.00%.
On the other hand, Shanghai Composite was down 0.11%, Hang Seng up by 0.02%, KLSE Composite down by 0.14%.

CAUTIOUS TRADE

Indian equity markets have got a positive start of the F&O expiry week, though the trade turned choppy after the good opening with some drag coming from the PSU and realty sector. However, the overall market mood remains firm and the broader markets are showing greater enthusiasm than the benchmarks. Metal pack led by gain in Hindalco and Tata Steel has adequately supported the markets from slipping down. Though, rupee has stabilized in early trade but IT and Tech sector stocks were still showing upmove. The major buzz is in non sectoral gauge 'Aviation' where all the companies are flying high. Jet Airways has surged by another 12% on a possible deal with Middle-Eastern carrier Etihad Airways, while the other major carrier Spice Jet too has gained over 10% on report of promoter stake reduction, the beleaguered Kingfisher airlines too was trading high after giving a debt reduction plan to the lenders. Though, the marketmen are still cautious ahead of an all-party meet to break logjam in Parliament over the government's decision to allow foreign investment (FDI) in retail.
The market breadth on the BSE was positive; there were 1,121 shares on the gaining side against 661 shares on the losing side while 88 shares remain unchanged.
The BSE Sensex opened at 18,574.36; about 67.79 points higher compared to its previous closing of 18,506.57, and has touched a high and a low of 18,590.33 and 18,535.63 respectively. The index is currently trading at 18,557.84, up by 51.27 or 0.28%. There were 20 stocks advancing against 10 declines on the index.
The overall market breadth has made a positive start with 60.06% stocks advancing against 35.19% declines. The broader indices were outperforming benchmarks; the BSE Mid cap and Small cap indices rose 0.51% and 0.54% respectively.
The top gaining sectoral indices on the BSE were, Metal up by 1.01%, TECK up by 0.83%, IT up by 0.69%, HC up by 0.68% and FMCG up by 0.56%. While, PSU down by 0.28%, Realty down by 0.09% and Bankex down by 0.06% were the only losers on the index.
The top gainers on the Sensex were Tata Steel up by 2.10%, Sterlite Inds up by 1.71%, Hindalco up by 1.62%, Tata Power up by 1.37% and Bharti Airtel up by1.36%.
On the flip side, Mahindra & Mahindra was down by 1.54%, Sun Pharma was down by 0.92%, Maruti Suzuki was down by 0.48%, ICICI Bank was down by 0.42% and BHEL was down by 0.24% were the top losers on the Sensex.
Meanwhile, amid the talks of rising fiscal deficit, C Rangarajan, Chairman of the Prime Minister's Economic Advisory Council has given some comfort to the concerns and has said that India's current account deficit should come down to around 3.5 per cent of the gross domestic product (GDP) by the end of this fiscal, aided by factors such as lower gold imports, better capital inflows and no major increase in oil prices. In 2011-12, India's current account deficit rose to 4.2 per cent of the GDP. He has also said that efforts were also on to keep the current account deficit around the manageable level of 2.5 per cent of the GDP in the medium term.
Earlier, he had reiterated that the government will make all efforts to restrict fiscal deficit to 5.3 per cent of GDP for the current financial year, he said that "I think our attempt will be to see that we remain as close as possible to revised fiscal deficit that has been indicated by the finance ministry."

Rangarajan also said that the rupee will continue to remain around its current levels as capital inflows, which are likely to pick up in the second half of the current fiscal, will prevent the rupee from depreciating further. He expressed his hopes that the government will use all policy instruments, including managing the food grain market, and fiscal and monetary measures to tame inflation. He further said that "We can see an improved performance for the manufacturing sector in the second half of the year. Some recent decisions relating to FDI as well as pricing of petroleum products should help change the investment sentiment. One the whole, the growth in the current year may stay between 5.5 and 6 per cent."

The S&P CNX Nifty opened at 5,648.65; about 22.05 points higher as compared to its previous closing of 5,626.60, and has touched a high and a low of 5,649.20 and 5,630.90 respectively.
The index is currently trading at 5,638.00, up by 11.40 points or 0.20%. There were 30 stocks advancing against 20 declines on the index.
The top gainers of the Nifty were Tata Steel up by 1.97%, Hindalco up by 1.62%, Asian Paint up by 1.59%, Bharti Airtel up by 1.33% and Tata Power up by 1.32%.
On the flip side, Mahindra & Mahindra down by 1.48%, Ultratech Cement down by 1.23%, Sun Pharma down by 0.91%, Ambuja Cement down by 0.79% and Ranbaxy down by 0.54%, were the major losers on the index.
Most of the Asian markets were trading in green; Shanghai Composite was down by 0.82 points or 0.04% to 2026.57, Hang Seng declined by 1.60 points or 0.01% to 21,912.38, KLSE Composite down by 2.34 points or 0.14% to 1,611.98.
On the other hand, Seoul Composite gained 1.50 points or 0.08% to 1,913.17, Jakarta Composite was up by 6.53 points or 0.15% to 4,355.34, Nikkei 225 gained 61.08 points or 0.65% to 9,428.18, Straits Times gained 13.96 points or 0.46% to 3,002.70, and Taiwan Weighted surged by 55.95 points or 0.75% to 7,382.49.

TIGHT BAND

After a firm start, Indian equity markets erased some early gains and currently trading in a tight range in the late morning session, despite of positive global cues. Markets remained cautious about, whether the government will be able to get lawmakers' approval for policy changes announced this quarter in the winter session of parliament, which begun today. In currency markets, Indian rupee erased all early gains and currently trading lower against dollar amid increasing demand for US currency by importers. On sectoral front, oil, consumer durables, FMCG, power and automobile stocks were a bit subdued. Select bank, capital goods, PSU and information technology stocks were trading higher. In global markets, mostly Asian shares climbed on positive Chinese manufacturing data, which fed optimism that the global growth slowdown may have turned a corner. Back home, the market breadth favoring positive trend; there were 1,240 shares on the gaining side against 1,073 shares on the losing side while 126 shares remain unchanged.
The BSE Sensex is currently trading at 18,499.89, up by 39.51 points or 0.21%%, after touching a high and a low of 18,544.08 and 18,466.69 respectively. There were 17 stocks advancing against 13 declines on the index.
The broader indices were in green; the BSE Mid cap and Small cap indices rose by 0.21% and 0.44% respectively.
The top gaining sectoral indices on the BSE were, Bankex up by 0.75%, CG up by 0.62%, TECk up by 0.55%, PSU up by 0.51% and HC up by 0.19% while, CD down 0.46%, OIL & Gas down by 0.33%, FMCG down 0.19%, Power down 0.08% and Auto down 0.02% were top losers on the sectoral space.
The top gainers on the Sensex were SBI up by 1.76%, Infosys up by 1.05%, Bharti Airtel up by 0.08%, L&T up by 0.87% and HDFC Bank up by 0.81%.
On the flip side, Tata Motors was down by 1.49%, Sun Pharma was down by 1.35%, Coal India was down by 0.68%, Tata Power and Hindalco was down by 0.65%  were the top losers on the Sensex.
Meanwhile, a week after flop 2G spectrum auction, Planning Commission Deputy Chairman Montek Singh Ahluwalia accepted that it was a mistake to fix such a high reserve price for the 2G spectrum auction, which kept leading telecom companies away from the bidding.
Ahluwalia, who was part of an empowered group of ministers (EGoM) that fixed Rs 14,000 crore as the base price, also has urged the government to relook at the reserve price for the upcoming auction of unsold spectrum during the current financial year. However, deputy commission underscored, that EGoM had lowered the reserve price from Rs 18,000 crore as pegged by the Telecom Regulatory Authority of India (TRAI) to Rs 14,000 crore, which by the end of it yet again turned out to be higher.
Sure that eventually the right price will be discovered, Ahluwalia said that "A healthy auction is key to price discovery," adding that since the Supreme Court has observed that an auction is not necessarily the only option, the Telecom Ministry could propose an alternative, which could be considered on merit.

In a bid to prune fiscal deficit, government which was banking on raising over Rs 40,000 crore from the 2G spectrum auction met with disappointment. India's telecommunications-spectrum auction for the 1,800-megahertz frequency band, used for basic mobile-telephone services under the global system for mobile communications technology, received a subdued response from participants, as this garnered mere Rs 9,407 crore.

S&P CNX Nifty is currently trading at 5,620.70, up by 5.90 points or 0.11%, after touching a high and a low of 5,638.25 and 5,611.55 respectively. There were 27 stocks advancing against 23 declines on the index.
The major gainers of the Nifty were Axis Bank up by 2.00%, SBI up by 1.79%, Asian Paint up by 1.28%, PNB up by 1.13% and Ambuja Cement up by 1.08%. On the flip side, Ultratech Cement down by 1.68%, Sun Pharma down by 1.47%, Tata Motors down by 1.37%, Siemens down by 1.22% and IDFC down by 1.20%, were the major losers on the index.
Most of the Asian equity indices were trading in the green; Hang Seng gained 0.67%, Jakarta Composite was up by 0.31%, Nikkei 225 surged by 1.56%, Straits Times gained 0.77%, Seoul Composite was up by 0.82% and Taiwan Weighted was higher by 0.24%.

On the other hand, Shanghai Composite was down by 0.87% and KLSE Composite declined by 0.17%.

COMMODITIES TODAY

USDINR	5522.704	-----	5493.296
SILVER	62400.26	---	61747.74
LONG	61853.64	TARGET	62209.74	ST.LOSS	61688.05
SHORT	62000.87	TARGET	61835.97	ST.LOSS	62077.55
GOLD	31884.59	---	31749.41
LONG	31774.32	TARGET	31846.16	ST.LOSS	31740.92
SHORT	31805.03	TARGET	31768.79	ST.LOSS	31821.88
CRUDE	4869	----	4793
LONG	4822.336	TARGET	4852.736	ST.LOSS	4808.2
SHORT	4839.664	TARGET	4809.264	ST.LOSS	4853.8
NICKEL	926.3703	----	910.0297
LONG	911.5297	TARGET	921.1979	ST.LOSS	907.0341
SHORT	915.1691	TARGET	911.8209	ST.LOSS	916.7259
COPPER	428.329	----	423.971
LONG	425.1798	TARGET	427.2314	ST.LOSS	424.2258
SHORT	426.1685	TARGET	424.7369	ST.LOSS	426.8342
N. GAS	218.5445		211.4555
LONG	212.5614	T	216.4592	ST.LOSS	210.7489
SHORT	214.123		212.3852	ST.LOSS	214.9311
ALUM	106.8205	------	105.2795
LEAD	119.8531	-------	117.7469
ZINC	105.3517	-----	104.3483

MARKETS PARE GAINS

After making a positive opening, Indian equities pared gains but continued firm trade in green in the late morning session. While, most of the Asian equity indices were trading in the green at this point of time. Japanese market has taken the lead as weaker yen boosted the outlook for country's exporters. Back home, traders were seen piling up position in PSU, Bankex and Tech sector while selling was witnessed in Oil & Gas sector. State Bank of India, NTPC, Bharat Heavy Electricals, Gail (India), Punjab National Bank and Rural Electrification Corporation, from PSU pack were seen trading in green. Infosys, Bharti Airtel, Wipro, HCL Tech and Zee Entertainment Enterprises from Tech pack were seen trading in green. However Oil & Gas stocks - RIL, ONGC, Cairn India, BPCL and HPCL were capping the markets' gains.
In the scrip specific development, Ashok Leyland rose on unveiling new fuel efficient engine technology. Crompton Greaves edged higher on inaugurating JIT manufacturing line. SpiceJet gained on plan to raise capital through preferential allotment. Maruti Suzuki soared on plan to set up new manufacturing unit in Gujarat.
The NSE Nifty and BSE Sensex were managing to hold their psychological 5,600 and 18500 levels. The market breadth on BSE was positive, advances: declines in the ratio of 1197:1036.
The index is currently trading at 18504.12, up by 43.74 points or 0.24%. There were 19 stocks advancing against 11 declines on the index.
The broader indices were in green; the BSE Mid cap and Small cap indices rose 0.30% and 0.55% respectively.
The top gaining sectoral indices on the BSE were, PSU up by 0.65%, Bankex up by 0.61%, Tech up by 0.53%, Realty up by 0.40% and HC up by 0.39% while, OIL and gas down by 0.33%, remained the lone loser on the index.
The top gainers on the Sensex were SBI up by 1.05%, Infosys up by 0.80%, Bharti Airtel up by 0.78%, HDFC bank up by 0.70% and Maruti Suzuki up by 0.67%.
On the flip side, Sun Pharma was down by 1.34%, Tata Motors was down by 1.17%, RIL was down by 0.60%, TCS and Coal India was down by 0.55%  were the top losers on the Sensex.

Meanwhile, stressing the need to shift focus on growth from the current inflation-fighting mode, Economist Jagdish Bhagwati, demanded for realignment in the monetary policy stance adopted by the Reserve Bank.  In the October policy, RBI for the second time this year revised upwards its inflation forecast to 7.5 percent by March-end.RBI has been blaming the high fiscal deficit driven by subsidies for the sticky inflation and asked the government to offer a clear fiscal road map. Amidst March 2010 and October 2011, RBI had been solely focusing on inflation fighting through 13 rate hikes. But over three years of inflation fighting has not yielded the desired results as it come down from double-digits primarily due to seasonal factors, especially growth. Further, Bhagwati added that 1991 reforms have helped in boosting growth which has given the resources that can now be allocated towards social welfare.

Moreover, amid the debate over organic versus genetically modified crops, he stressed on the need to adopt the latter, in spite of the concerns voiced by environmentalists and also a case for bringing down tariffs, citing the highly elevated tariffs of around 12 percent in the manufacturing sector which makes Indian goods uncompetitive in the international market.
The index is currently trading at 5,622.85, up by 8.05 points or 0.14%. There were 29 stocks advancing against 21 declines on the index.
The top gainers of the Nifty were Ambuja Cement up by 1.86%, Axis Bank up by 1.79%, Asian Paint up by 1.56%, SBI up by 1.06% and ACC up by 0.95%. On the flip side, Ultratech Cement down by 1.37%, Sun Pharma down by 1.36%, Tata Motors down by 1.15%, BPCL down by 0.96% and TATA Power down by 0.75%, were the major losers on the index.
Most of the Asian equity indices were trading in the green; Hang Seng gained 0.74%, Jakarta Composite was up by 0.31%, Nikkei 225 surged by 1.23%, Straits Times gained 0.81%, Seoul Composite was up by 0.95% and Taiwan Weighted was higher by 0.29%.
On the other hand, Shanghai Composite was down by 0.53% and KLSE Composite declined by 0.17%.

MARKETS CONTINUE TO TRADE IN GREEN

After making a flat-to-positive opening, Indian equities continued to trade in fine fettle on back of strong buying in frontline counters in the late morning session. The Asian equity indices were trading in the red at this point of time as investors refocused on the risk of a US fiscal crisis following Federal Reserve Chairman Ben Bernanke's remarks that the budget impasse was already damaging growth. Back home, traders were seen piling up position in Realty, CD and Bankex sector while selling was witnessed in Oil & Gas and Auto sector. DLF, Unitech, HDIL, Oberoi Realty, Godrej Properties and Indiabulls Real Estate, from Realty pack were seen trading in green. Titan Industries, Videocon Industries, Rajesh Exports, TTK Prestige and Blue Star from CD pack were seen trading in green. However Oil & Gas stocks - RIL, ONGC, Cairn India, BPCL and HPCL were capping the markets' gains. Auto majors Infosys, Tata Motors, Maruti Suzuki and Hero MotoCorp were pressurizing the markets.
In the scrip specific development, Aviation stocks such as Jet Airways, Spice jet, Kingfisher Airlines were edged higher after the Ministry of Civil Aviation stated that total domestic passengers carried by the scheduled domestic airlines rose to 45.55 lakh in October 2012 from 40.18 lakh in September 2012. Biocon was trading in red after the Bangalore-based biotech firm protested against the drug price regulator National Pharma Pricing Authority's (NPPA) insulin price fixation methodology.
Further, Jyoti rose on bagging order worth Rs 7.48 crore for Irrigation Schemes. NDTV surged on introducing three channels in Malaysian market. Indraprastha Gas soared on commissioning country's first of its kind CNG station. Pennar Industries edged higher on bagging order worth Rs 50 crore. Surya Roshni zoomed on bagging order worth Rs 84 crore in October.
The NSE Nifty and BSE Sensex were managing to hold their psychological 5,550 and 18300 levels. The market breadth on BSE was positive, advances: declines in the ratio of 1279:983.
The BSE Sensex is currently trading at 18389.87, up by 60.55 points or 0.33%. There were 19 stocks advancing against 11 declines on the index.
The broader indices were trading in green; both BSE Mid cap up & Small cap index were up by 0.27% each.
The top gaining sectoral indices on the BSE were, Realty up by 1.12%, CD up by 1.09%, Bankex up by 0.83%, FMCG up by 0.58% and IT up by 0.49%. While, Oil and Gas down by 0.11% and Auto down by 0.09% were the top losers on the index.
The top gainers on the Sensex were ICICI Bank up by 1.78%, Tata Power up by 1.63%, Cipla up by 1.45%, Sun Pharma up by 1.34% and Jindal Steel up by 1.33%
On the flip side, Coal india was down by 0.96%, NTPC was down by 0.86%, HDFC was down by 0.72%, Bharti Airtel down by 0.70% and BHEL was down by 0.68% were the top losers on the Sensex.
Meanwhile, global steel production for the month of October surged by 1.3% to 126 million tonne (MT) against 124.55 MT recorded in the same month last year, mainly on the back of six percent rise seen in production in China, as per the data of World Steel Association.
China's crude steel production for October 2012 was 59.1 MT, up by 6.0% compared to October 2011. In Asia, Japan produced 8.8 MT of crude steel in October 2012, a decrease of 6.7% compared to 2011, India's production grew by 5.7% to 6.5 MT from 6.1 MT the same month last year.
In the EU, Germany produced 3.7 MT, a slight increase of 0.3% over October 2011. Italy's production was 2.4 MT, down by 10.4%, France produced 1.3 MT and Spain 1.1 MT. The US produced 6.9 MT steel in October 2012, a 3.3% dip against the same month last year. Brazil's production was 3.2 MT, an increase of 7.7% against October 2011.

The crude steel capacity utilization ratio in October 2012 declined to 76.5 percent from 77.7 percent in September.

S&P CNX Nifty is currently trading at 5,589.70, up by 18.15 points or 0.33%, after touching a high and a low of 5,596.25and 5,561.40 respectively. There were 31 stocks advancing against 19 declining one's on the index.
The top gainers of the Nifty were Tata power up by 1.73%, ICICI bank up by 1.69%, Sun Pharma up by 1.45%, Bank of Baroda up by 1.38% and Hindalco up by 1.33%.
On the flip side, NTPC down by 1.19%, Cairn down by 1.06%, HDFC down by 0.98%, Coal India down by 0.79% and BHEL down by 0.70%, were the major losers on the index.
Most of the Asian equity indices were trading in the red; Shanghai Composite was down by 0.65%, Jakarta Composite was down by 0.25%, KLSE Composite was down by 0.22%, Straits Times was down by 0.12%, Seoul Composite was down by 0.49% and Taiwan Weighted was down by 0.92%. On the flip side, Hang Seng up by 0.35% and Nikkei 225 up by 0.34% were the only gainers amongst Asian pack.

COMMODITIES TODAY

USDINR	5532.676	-----	5496.324
SILVER	61874.58	---	61329.42
LONG	61598.54	TARGET	61778.37	ST.LOSS	61514.92
SHORT	61723.35	TARGET	61466.72	ST.LOSS	61842.68
GOLD	31843.43	---	31666.57
LONG	31750.45	TARGET	31811.02	ST.LOSS	31722.29
SHORT	31790.86	TARGET	31709.89	ST.LOSS	31828.51
CRUDE	4885.684	----	4730.316
LONG	4820.794	TARGET	4863.068	ST.LOSS	4801.137
SHORT	4857.22	TARGET	4774.546	ST.LOSS	4895.663
NICKEL	919.2129	----	899.5871
LONG	906.4338	TARGET	914.759	ST.LOSS	902.5626
SHORT	910.8926	TARGET	903.5274	ST.LOSS	914.3174
COPPER	429.172	----	425.028
LONG	427.0095	TARGET	428.4183	ST.LOSS	426.3544
SHORT	427.958	TARGET	426.0492	ST.LOSS	428.8456
N. GAS	212.372		207.628
LONG	208.2754	T	210.9442	ST.LOSS	207.0344
SHORT	209.33		208.2212	ST.LOSS	209.8456
ALUM	107.9955	------	106.5045
LEAD	120.145	-------	118.655
ZINC	105.4474	-----	104.3526

POSITIVE

Domestic equity indices, after flat-to-positive opening, were trading near its pre-close level ahead of the winter session of Parliament that will begin tomorrow. Global cues too remained un-supportive as overnight, US stocks fell following a two-day rally, after Federal Reserve Chairman Ben Bernanke said the central bank lacks tools to cushion the US economy from the impact of the fiscal cliff. While, most of the Asian equity indices, after a positive opening, were trading in the red at this point of time as investors refocused on the risk of a US fiscal crisis following Federal Reserve Chairman Ben Bernanke's remarks that the budget impasse was already damaging growth.
Back home, investors remained on the sidelines on political uncertainty on talks of a no-confidence motion or a vote on the FDI issue in the forthcoming winter session of Parliament that begins on Nov 22. However, sentiments were supported by Aviation stocks as scrips like Jet Air India, Spicejet, and Kingfisher Airlines all edged higher as the number of passengers carried by air carriers rose 13.36% in October 2012 over September 2012. On the sectoral front, consumer durables witnessed the maximum gain in trade followed by realty and software while, auto, public sector undertaking and power remained the top losers on the BSE sectoral space. The broader indices too were struggling to get some traction and trading mixed while the market breadth on the BSE was positive; there were 784 shares on the gaining side against 734 shares on the losing side while 69 shares remain unchanged.
The BSE Sensex opened at 18,379.90; about 50 points higher compared to its previous closing of 18,329.32, and has touched a high and a low of 18,395.06 and 18,309.81 respectively.
The index is currently trading at 18,331.60, up by 2.28 points or 0.01%. There were 14 stocks advancing against 16 declines on the index.
The overall market breadth has made a positive start with 49.40% stocks advancing against 46.25% declines. The broader indices too were trading mixed; the BSE Mid cap declined 0.07% while, Small cap index rose marginally by 0.02%.
The top gaining sectoral indices on the BSE were, CD up by 0.89%, Realty up by 0.43%, IT up by 0.30%, Bankex up by 0.19% and FMCG up by 0.17%. While, Auto down by 0.35%, PSU down by 0.25%, Power down by 0.25%, Oil and Gas down by 0.16% and Metal down by 0.12% were the top losers on the index.
The top gainers on the Sensex were Cipla up by 1.03%, Tata Power up by 1.02%, TCS up by 0.92%, GAIL up by 0.76% and ICICI Bank up by 0.67%.
On the flip side, Bharti Airtel was down by 1.46%, BHEL was down by 1.07%, Maruti Suzuki was down by 1.04%, Hero MotoCorp was down by 0.92% and SBI was down by 0.77% were the top losers on the Sensex.
Meanwhile, India is all set to conclude the Free Trade Agreement (FTA) in services and investment with Association of South East Asian Nations (ASEAN) by next month, which will send a strong signal of deepening economic engagement and further allow for rapid expansion in trade and investment flows in both directions. Prime Minister Manmohan Singh while addressing India-ASEAN summit, invited investments from the 10-nation ASEAN into India and also highlighted the steps taken by India to improve investment environment.
The FTA in services and investment were delayed due to strong differences between the two sides. However, Singh is optimistic on the conclusion of the agreement on trade in services and investments, together with existing agreement on trade in goods, which will be a launch pad for rapid expansion in economic relations with the ASEAN. By adding further he said, India's relationship with the ASEAN continues to expand in all magnitude, with commerce and connectivity being crucial areas of this relationship in which good progress has been made.

Further, referring to the India-ASEAN FTA on trade in goods signed in 2009, Singh said that it has served well, with the two-way commerce increasing to nearly $80 billion in the Indian financial year ending March 2012, exceeding the target of $70 billion. However, India would offer its own resources, expertise and experience to support growth and development in ASEAN countries, where such needs exist.

The S&P CNX Nifty opened at 5,582.50; about 11 points higher compared to its previous closing of 5,571.55, and has touched a high and a low of 5,588.25 and 5,561.40 respectively.
The index is currently trading at 5,568.80, down by 2.75 points or 0.05%. There were 21 stocks advancing against 29 declines on the index.
The top gainers of the Nifty were Cipla up by 1.09%, TCS up by 1.07%, RInfra up by 0.93%, Hindalco up by 0.90% and Axis Bank up by 0.74%.
On the flip side, Bharti Airtel down by 1.33%, Maruti Suzuki down by 0.99%, Hero MotoCorp down by 0.89%, NTPC down by 0.89% and Power Grid down by 0.86%, were the major losers on the index.
Most of the Asian equity indices were trading in the red; Shanghai Composite was down by 7.17 points or 0.36% to 2,001.76, Jakarta Composite was down by 6.82 points or 0.16% to 4,305.55, KLSE Composite was down by 4.25 points or 0.26% to 1,619.95, Straits Times was down by 1.99 points or 0.07% to 2,956.83, Seoul Composite was down by 7.57 points or 0.40% to 1,882.61 and Taiwan Weighted was down by 52.31 points or 0.73% to 7,093.46. On the flip side, Hang Seng surged by 44.20 points or 0.21% to 21,272.48 and Nikkei 225 added 32.14 points or 0.35% to 9,174.78.

COMMODITIES TODAY

USDINR	5539.933	-----	5509.067
SILVER	61377.89	---	60662.11
LONG	60845.62	TARGET	61192.38	ST.LOSS	60684.38
SHORT	61007.72	TARGET	60782.57	ST.LOSS	61112.42
GOLD	31783.92	---	31548.08
LONG	31569.68	TARGET	31709.25	ST.LOSS	31504.78
SHORT	31622.94	TARGET	31574.17	ST.LOSS	31645.62
CRUDE	4909.677	----	4790.323
LONG	4803.039	TARGET	4872.51	ST.LOSS	4770.735
SHORT	4829.421	TARGET	4803.95	ST.LOSS	4841.265
NICKEL	893.0211	----	876.7789
LONG	881.6491	TARGET	889.0576	ST.LOSS	878.2042
SHORT	885.3265	TARGET	879.758	ST.LOSS	887.9158
COPPER	423.7544	----	420.2456
LONG	420.958	TARGET	422.7797	ST.LOSS	420.1109
SHORT	421.7526	TARGET	420.7709	ST.LOSS	422.2091
N. GAS	213.0042		206.5958
LONG	206.923	T	210.8847	ST.LOSS	205.0808
SHORT	208.3176		207.1959	ST.LOSS	208.8392
ALUM	107.5	------	106.5
LEAD	121.2991	-------	119.1009
ZINC	106.0213	-----	104.3787

LISTLESS TRADE

Indian benchmarks have made a muted start on Monday's morning trade as market participants adopted cautious approach ahead of next resumption of parliament. Globally, the US markets climbed on Friday, trimming weekly slump as optimistic words followed the opening round of negotiations on averting automatic spending cuts and tax increases, which is set to begin on January 1. Moreover, the Asian counters were trading mixed at this point of time. The Chinese market was marginally in red as Southeast Asian leaders have sought to ease tensions with China over maritime disputes before a regional summit involving US President Barack Obama, as concerns persist over weaker demand in the global economy.
Back home, the downside remain capped on finance minister P Chidambaram's statement that amendments to General Anti-Avoidance Rules (GAAR), the controversial law against tax avoidance through foreign investments, have been finalized. 'Finance minister said that the final amendments to GAAR would come in 7-10 days. He said that the drafting work is complete. So, GAAR is under control. I have taken the decisions, subject to Prime Minister's approval and then Cabinet.' Moreover, software and technology stocks edged higher as Indian rupee depreciated to two months low and settled past psychological '55/$' level on Friday.
On the sectoral front, technology witnessed the maximum gain in trade followed by software and auto while, fast moving consumer goods, oil and gas and capital goods remained the top losers on the BSE sectoral space. The broader indices too were struggling to get some traction while, the market breadth on the BSE was negative; there were 786 shares on the gaining side against 881 shares on the losing side while 80 shares remain unchanged.
The BSE Sensex opened at 18,349.53; about 40 points higher compared to its previous closing of 18,309.37, and has touched a high and a low of 18,386.78 and 18,281.33 respectively.
The index is currently trading at 18,282.50, down by 26.87 points or 0.15%. There were 17 stocks advancing against 13 declines on the index.
The overall market breadth has made a negative start with 44.99% stocks advancing against 50.43% declines. The broader indices too were struggling to get some traction; the BSE Mid cap and Small cap indices declined 0.48% and 0.23% respectively.
The few gaining sectoral indices on the BSE were, TECk up by 0.46%, IT up by 0.28%, Auto up by 0.25% and Power up by 0.05%. While, FMCG down by 0.57%, Oil and Gas down by 0.52%, CG down by 0.48%, Realty down by 0.47% and Bankex down by 0.39% were the top losers on the index.
The top gainers on the Sensex were Maruti Suzuki up by 2.39%, Bharti Airtel up by 2.04%, M&M up by 0.81%, NTPC up by 0.73% and BHEL up by 0.56%.
On the flip side, HUL was down by 1.51%, RIL was down by 1.23%, Hindalco was down by 1.10%, Sterlite Industries was down by 0.87% and L&T was down by 0.83% were the top losers on the Sensex.
Meanwhile, market regulator Securities and Exchanges Board of India (SEBI) has allowed mutual funds to participate in Credit Default Swap (CDS) transactions, which allow business entities to hedge risks associated with the bonds market. This follows the RBI notification issued in May 2011 stating the guidelines on CDS for corporate bonds.
Importantly, SEBI has allowed mutual funds to participate in CDS transactions only as users (protection buyer). Thus, mutual funds are permitted to buy credit protection only to hedge their credit risk on corporate bonds they hold. The funds shall not be allowed to sell protection and hence are not permitted to enter into short positions in the CDS contracts. However, they shall be permitted to exit an existing 'bought position'. This too can be done only if the fund house's total exposure through CDS in corporate bonds along with equity, debt and derivative positions exceeds 100 per cent of the scheme's net assets.
Further, the total exposure related to premium paid for all derivative positions, including CDS, shall not exceed 20 per cent of the net assets of the scheme. In addition to this, the SEBI has prescribed that MFs can buy CDS for the eligible securities as reference obligations (underlying) only for fixed maturity plans exceeding one-year tenor.

Furthermore, before undertaking CDS transactions, mutual funds shall frame a written policy on participation in CDS approved by the Board of the Asset Management Company and the Trustees as per the guidelines specified by RBI and SEBI. This policy shall be reviewed by mutual funds, at least once a year.

Meanwhile, SEBI, in order to encourage growth of the corporate bond market, has also decided that the base of eligible securities may be expanded for mutual funds to participate in repo in corporate debt securities, from 'AAA' rated to 'AA 'and above rated corporate debt securities.
The S&P CNX Nifty opened at 5,577.30; about 2 points lower compared to its previous closing of 5,574.05, and has touched a high and a low of 5,592.75 and 5,559.30 respectively.
The index is currently trading at 5,565.95, down by 8.10 points or 0.15%. There were 24 stocks advancing against 26 declines on the index.
The top gainers of the Nifty were Maruti Suzuki up by 2.54%, Bharti Airtel up by 2.01%, Infosys up by 1.03%, M&M up by 0.96% and NTPC up by 0.78%.
On the flip side, Ambuja Cement down by 1.45%, Axis Bank down by 1.39%, HUL down by 1.25%, RIL down by 1.23% and IDFC down by 1.19%, were the major losers on the index.
Asian equity indices were trading mixed; Shanghai Composite was down by 3.76 points or 0.19% to 2,010.96, Jakarta Composite was down by 12.70 points or 0.26% to 4334.54 and KLSE Composite was down by 8.50 points or 0.52% to 1,620.78.
On the other hand, Hang Seng was up by 98.27 points or 0.46% to 21,257.28, Nikkei 225 surged by 120.31 points or 1.34% to 9,145.10, Straits Times was up by 5.54% to 0.19% to 2,951.17, Seoul Composite gained 16.98 points or 0.91% to 1,877.81 and Taiwan Weighted gained 1.20 points or 0.02% to 7,131.27.

COMMODITIES TODAY

SILVER	61474.1	---	60325.9
LONG	60569	TARGET	61158.64	ST.LOSS	60294.82
SHORT	60826.98	TARGET	60500.54	ST.LOSS	60978.78
GOLD	31826.99	---	31477.01
LONG	31557.45	TARGET	31733.05	ST.LOSS	31475.8
SHORT	31636.64	TARGET	31532.64	ST.LOSS	31685
CRUDE	4772.88	----	4647.12
LONG	4678.398	TARGET	4739.95	ST.LOSS	4649.776
SHORT	4706.604	TARGET	4667.852	ST.LOSS	4724.624
NICKEL	883.4424	----	872.7576
LONG	877.6448	TARGET	881.4217	ST.LOSS	875.8885
SHORT	880.0902	TARGET	875.3133	ST.LOSS	882.3115
COPPER	419.474	----	412.526
LONG	415.284	TARGET	418.0136	ST.LOSS	414.0148
SHORT	416.8695	TARGET	414.0399	ST.LOSS	418.1852
N. GAS	195.0214		189.3786
LONG	192.7365	T	194.225	ST.LOSS	192.0443
SHORT	194.0581		191.0096	ST.LOSS	195.4757
ALUM	105.1261	------	104.0739
LEAD	120.4058	-------	116.6942
ZINC	103.7222	-----	101.9778

DECENT START

Indian equity benchmarks have made a decent start with gain of over quarter a percent on Monday ahead of announcement of industrial output data for the month of September later today. However, global cues remained unsupportive as the US markets closed flat with a positive bias on Friday, while, most of the Asian markets were trading in the red after Japan's economy shrank at the fastest pace since last year's earthquake; however Chinese market was marginally in green as overseas shipments increased 11.6 percent from a year earlier.
Back home, sustained buying in most of the key heavyweights along with broader indices supported BSE's -- Sensex -- and NSE's -- Nifty -- to regain their crucial 18,700 and 5,700 mark respectively. Some amount of support also came from telecom space where Idea Cellular, Bharti Airtel and MTNL all edged higher ahead of the start of 2G auction, the government has pushed through the proposal to re-farm spectrum in the 900-MHz band to 1,800 MHz, allowing incumbent operators to keep only 2.5 MHz and has imposed a one-time spectrum charge on incumbent GSM operators for spectrum they hold beyond 4.4 MHz and 2.5 MHz for CDMA players. An auction base price has been fixed at Rs 14,000 crore for five MHz in the 1,800-MHz band.
On the sectoral front, consumer durables witnessed the maximum gain in trade followed by fast moving consumer goods and technology while, metal remained the lone loser 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 971 shares on the gaining side against 602 shares on the losing side while 52 shares remain unchanged.
The BSE Sensex opened at 18,691.02; about 8 points higher compared to its previous closing of 18,683.68, and has touched a high and a low of 18,750.92 and 18,687.08 respectively.
The index is currently trading at 18,737.91, up by 54.23 points or 0.29%. There were 21 stocks advancing against 9 declines on the index.
The overall market breadth has made a positive start with 59.75% stocks advancing against 37.05% declines. The broader indices too were trading in-line with benchmarks; the BSE Mid cap and Small cap indices rose 0.40% and 0.41% respectively.
The top gaining sectoral indices on the BSE were CD up by 0.80%, FMCG up by 0.72%, TECk up by 0.71%, Bankex up by 0.61% and IT up by 0.55%. While, Metal down by 0.07% was the lone loser on the index.
The top gainers on the Sensex were Bharti Airtel up by 1.93%, ICICI Bank up by 0.93%, HDFC Bank up by 0.66%, GAIL up by 0.66% and Infosys up by 0.62%.
On the flip side, Tata Steel was down by 1.29%, Coal India was down by 0.51%, Maruti Suzuki was down by 0.47%, Dr Reddy was down by 0.38% and Hero MotoCorp was down by 0.37% were the top losers on the Sensex.

Meanwhile, in an attempt to trigger investment growth, the centre has affirmed that the decision on setting up the National Investment Board (NIB) for single window clearance for large infrastructure projects is likely in next two to three weeks. The proposal was mooted by Finance Minister P Chidambaram at the full meeting of the Planning Commission recently, amid concerns on long delays in the implementation of large infrastructure projects.

The NIB is being set up to ensure that the clearances required for major projects, mainly projects above Rs 1,000 crore investment, would be granted by the relevant ministries without unnecessary delays. The blueprint for the NIB was already put forth in the Cabinet meeting in late September, provides the board the power to overrule other ministries.
As per the proposal, if clearances were not given by the concerned ministries within a specified time-frame, the projects would be sent to the NIB, which will be chaired by the Prime Minister and the members will constitute the ministers of finance and law. The decision taken by the board on whether the project can proceed will be considered final after that and no ministry will have the power to raise objections.
NIB plan is part of the government's aggressive reforms agenda to stimulate financial growth and it also aims to address a looming industrial complaint that ministerial clearances delay crucial mega projects.
The S&P CNX Nifty opened at 5,688.45; about 2 points higher compared to its previous closing of 5,686.25, and has touched a high and a low of 5,718.90 and 5,688.15 respectively.
The index is currently trading at 5,707.35, up by 21.10 points or 0.37%. There were 39 stocks advancing against 11 declines on the index.
The top gainers of the Nifty were Bharti Airtel up by 2.25%, IDFC up by 1.51%, GAIL up by 1.34%, RInfra up by 0.98% and ICICI Bank up by 0.98%.
On the flip side, Tata Steel down by 1.23%, DLF down by 1.16%, Coal India down by 0.52%, Maruti Suzuki down by 0.48% and Hero MotoCorp down by 0.37%, were the major losers on the index.
Most of the Asian equity indices were trading in red; Jakarta Composite lost 3.89 points or 0.09% to 4,329.61, KLSE Composite was down by 1.92 points or 0.12% to 1,639.16, Nikkei 225 lost 64.31 points or 0.73% to 8,693.29, Straits Times lost 5.54 points or 0.18% to 3,004.00, Kospi Composite declined by 6.79 points or 0.36% to 1,897.59 and Taiwan Weighted was down by 5.01 points or 0.07% to 7,288.02.
On the other hand, Shanghai Composite was up by 5.14 points or 0.25% to 2,074.21 and Hang Seng gained 23.37 points or 0.11% to 21,407.75.

COMMODITIES CALL

USDINR	5430.673	-----	5399.827
SILVER	58898.83	---	56677.17
LONG	57978.55	TARGET	58578.08	ST.LOSS	57699.77
SHORT	58502.49	TARGET	57313.35	ST.LOSS	59055.43
GOLD	30800.28	---	30235.72
LONG	30533.63	TARGET	30707.35	ST.LOSS	30452.86
SHORT	30663.85	TARGET	30384.94	ST.LOSS	30793.54
CRUDE	4668.627	----	4567.373
LONG	4627.104	TARGET	4654.155	ST.LOSS	4614.525
SHORT	4650.648	TARGET	4596.397	ST.LOSS	4675.875
NICKEL	875.2655	----	857.7345
LONG	869.5765	TARGET	873.2827	ST.LOSS	867.8531
SHORT	873.6773	TARGET	863.2911	ST.LOSS	878.5069
COPPER	420.7027	----	413.1973
LONG	417.6004	TARGET	419.6214	ST.LOSS	416.6605
SHORT	419.3389	TARGET	415.3379	ST.LOSS	421.1995
N. GAS	196.6954		189.3046
LONG	193.8738	T	195.712	ST.LOSS	193.0191
SHORT	195.626		191.5078	ST.LOSS	197.5409
ALUM	105.2952	------	102.8048
LEAD	114.6114	-------	111.9886
ZINC	100.8698	-----	99.33019