Market opened flat but could not sustained in positive.Nifty ended at 5417.40 with 34.70 points down whereas Sensex ended at 18038.39 with 128.64 points down.
Among BSE Sectoral Indices, FMCG index rose the most by 0.78% while Metal Index was the top loser by 1.42%.
In the Nifty50 stocks, Powergid Corporation gained the most by 3.53% and ended at 105.50 while Suzlon was the top loser ended at 52.40 with 7.17%.
Today's listed stock SKS Micro was the turnover topper in terms of traded value whereas Volatile stocks Cairn India was the turnover topper with highest traded quantity.
Market breadth was negative today as 852 stocks declined and 493 stocks gained on NSE.
16 August 2010 Morning Market Updates: Stocks that are in news today: Listing today: SKS Microfinance Cairn India
Cairn India writes to DGH on oil & gas discovery in KG Basin Cairn India may have made major oil &gas discovery in onshore KG Block Cairn India informs DGH that gas reserves could be upwards of 10 Tcf KG onshore block will require further drilling to substantiate resource Vedanta-Cairn deal - Sources Vedanta-Cairn Energy Plc conclude negotiations Vedanta to acquire 51% stake in Cairn India Cairn Plc to sell part stake in Cairn India Petronas unlikely to sell Cairn India stake to Vedanta ONGC concerned about Vedanta's lack of oil & gas experience May take up issue of Vedanta's inexperience with oil ministry: Sources RBI introduced minimum capital adequacy norms and limits by holding companies The move will crimp borrowings by several large companies and force them to revamp their ownership structures Stocks to watch: McDowell Holdings, Network 18, Jindal South West Holding, UB holding, Bajaj Holding Other stocks and sectors that are in news today: Kamath front-runner to succeed Murthy as Infosys chairman – ET Suzlon may sell around 25% stake RePower stake to PE Players for USD 500 million – ET Mahanagar Gas plans IPO – BS (It’s a JV between Gail and British Gas) Eli Lilly loses patent case in US over its hyperactivity disorder drug, Sun Pharma and Aurobindo to benefit – BS Raymond to revisit package for Thane mill workers, civic authority, union and management to meet tomorrow to discuss new package for employees – BS Pipavav Shipyard: To Issue of 2.52 crore warrants to promoters for investment of Rs 250 crore, Signed MOU with Transocean Offshore for repairs of its off-shore drilling Units NMDC acquired 1948 acres of land for setting up 3.MTPA steel plant Power Firms plans 5-7% tariff hike – DNA Tata Steel gets approval to explore Ankua mine – DNA Tata Power Ex-Dividend @ Rs 12/share Wockhardt increased Authorized capital from Rs 925 crore to Rs 1125 crore (Issued 40 crore prefrence shares of Rs.5 each) Ramsarup Inds: Issuance of 35 lakh warrants to Promoter & Stratergic Investor (not more than 10% of company) - also Issuance of FCCB to extend of Rs 1150 crore (Market Cap Rs 300 crore) Shilpa Medicare board meet on 16 Aug to consider the issue of equity on preferential basis House of Pearl Fashions: Board has approved for Scheme of Arrangement for merger of Pearl Global with House of Pearl Fashions Powergrid to lease out towers to telecos – ET Gangotri Iron & Steel: Stock Split in ratio of 2:1 F&O cues: Futures Open Int was up by Rs 1213 crore Options Open Int was up by Rs 2600 crore Nifty Fut add 1.17 lakh shares in Open Int in Aug Nifty Fut add 3.14 lakh shares in Open Int in Sep Nifty Futures unchanged at 4 pts prem Nifty Open Int PCR at 1.49 versus 1.45 Nifty Puts add 31 lakh shares in Open Int Nifty Calls add 4 lakh shares in Open Int Nifty Aug 5500 Put adds 10 lakh shares in Open Int Nifty Aug 5400 Put adds 7.9 lakh shares in Open Int Nifty Sep 5400 Put adds 4.4 lakh shares in Open Int Nifty Aug 5500 Call adds 4 lakh shares in Open Int Nifty Aug 5600 Call sheds 8.4 lk shrs in Open Int Stock Futures add 2.4 cr shares in Open Int FIIs in F&O on August 13 Net buy Rs 486 crore in Nifty Futures Net buy Rs 833 crore in Nifty Options Net sell Rs 76 crore in Stock Futures US Markets: US stocks closed out their worst week in six with a whimper on Friday, slumping toward the close as economic data gave little reason to reverse a string of sell-offs.
In a thinly traded session, indexes posted their fourth day of losses though selling pressure was limited in the Dow by strength in Bank of America Corp. US retail sales rebounded last month, as did the overall July Consumer Price Index, but the data was consistent with an economy that has slowed in recent months.
Positive corporate earnings and improved technicals helped the market rally through July and early August, but sentiment soured this week and stocks turned negative for the year after a darker assessment of the economy by the Federal Reserve and renewed concerns about China's economic growth rate. For the week, the Dow fell 3.3%, while the S&P slid 3.8% and the Nasdaq lost 5%. "We've seen a succession of bad news this week that was punctuated by the Fed's comments, so while we have some semblance of self-sufficiency, it's clear we'll be in a slow-growth period for a long time," said Steven Baffico, senior managing director at Claymore Securities in Lisle, Illinois. The S&P 500 relinquished its hold on the 200-day moving average that had generated some positive momentum and was trading below its 50-day moving average on Friday. The Dow Jones industrial average dropped 16.80 points, or 0.16%, to 10,303.15. The Standard & Poor's 500 Index dropped 4.36 points, or 0.40%, to 1,079.25. The Nasdaq Composite Index dropped 16.79 points, or 0.77%, to 2,173.48. Consumer sentiment stabilized this month after a sharp drop in July, the Thomson Reuters/University of Michigan Surveys' preliminary August reading showed. Meanwhile, the Commerce Department said business inventories rose slightly more than expected in June. Alan Gayle, the senior investment strategist at the Richmond, Virginia-based RidgeWorth Investment, said that even though sentiment was better than expected in the month, it was coming off of a low level, which "suggests that consumers remain very uncertain in this environment." Bank of America was the Dow's top percentage gainer, rising 1.3% to USD 13.23. The S&P Consumer Discretionary index fell 1.1% after the data and disappointing outlooks from both Nordstrom Inc and J.C. Penney Co Inc. Nordstrom tumbled 7.2% to USD 31.05 and Penney lost 4.7% to USD 19.82. The S&P Retail index slid 1.4% while the S&P Department store sub-industry index slumped 3.2%. Retailers will remain in focus next week, as a number of sector bellwethers, including Wal-Mart Stores Inc, Gap Inc and Target Corp are scheduled to report their quarterly results. Apollo Group Inc was the top percentage loser in the Nasdaq 100, falling 3.8% to USD 38.94 alongside other education companies. The sector was hit as brokerages cut price targets on the stocks and the government said it would hire more investigators to prevent fraud by for-profit colleges. Eli Lilly and Co fell 2.5% to USD 35.70 after the drugmaker lost a patent case that cleared the way for generic competition for Strattera, its attention deficit disorder drug. On the upside, shares of both Nvidia Corp and Rambus Inc rallied after Rambus granted patent licenses to Nvidia, raising hopes for an end to a lengthy legal battle. Nvidia shot up 4.8% to USD 9.39 while Rambus gained 3.8% to USD 18.71. Volume was extremely light, with only 5.98 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, well below last year's estimated daily average of 9.65 billion. Decliners slightly outnumbered advancers on the New York Stock Exchange by a ratio of about 8-to-7, while on the Nasdaq, about nine stocks fell for every four that rose.
Market will continue Friday's rally and will open positive but for holding the strength, expecting support from Global markets.Immediate Nifty resistance is at 5470 and support is at 5430.
Today's Recommendations :
FYI:
Follow Buy calls in Pisitive markett bias & v.v.
Buy
Axisbank Abv 1335 sl 1324 T 1348
Gai Abv 456 sl 450 T 465
ITC sl 155 T 159
LT Abv 1820 sl 1810 T 1848
Bajaj-auto Abv 2670 s 2657 T 2714
Hindpetro Abv 496 sl 489 T 520
IFCI Abv 61.25 sl 60.5 T 62.5
Indhotel sl 101 T 106
Sell:
Aban Bel 815 sl 824 T 798 Stocks in News :
Cairn India - CNBC exclusive -Cairn India writes to DGH on oil & gas discovery in KG Basin
-Cairn India may have made major oil & gas discovery in onshore KG Block
-Cairn India informs DGH that gas reserves could be upwards of 10 Tcf
-KG onshore block will require further drilling to substantiate resource
Vedanta-Cairn deal - Sources
-Vedanta-Cairn Energy Plc conclude negotiations
-Vedanta to acquire 51% stake in Cairn India
-Cairn Plc to sell part stake in Cairn India
-Petronas unlikely to sell Cairn India stake to Vedanta
ONGC concerned about Vedanta's lack of oil & gas experience-May take up issue of Vedanta's inexperience with oil ministry: Sources
RBI introduced minimum capital adequacy norms and limits by holding companies
-The move will crimp borrowings by several large companies and force them to revamp their ownership structures
-Stocks to watch: McDowell Holdings, Network 18, Jindal South West Holding, UB holding, Bajaj Holding
-Kamath front-runner to succeed Murthy as Infosys chairman
-Suzlon may sell around 25% stake RePower stake to PE Players for USD 500 million.
-Mahanagar Gas plans IPO.(It’s a JV between Gail and British Gas)
-Eli Lilly loses patent case in US over its hyperactivity disorder drug, Sun Pharma and Aurobindo to benefit.
-Raymond to revisit package for Thane mill workers, civic authority, union and management to meet tomorrow to discuss new package for employees.
-Pipavav Shipyard: To Issue of 2.52 crore warrants to promoters for investment of Rs 250 crore, Signed MOU with Transocean Offshore for repairs of its off-shore drilling Units
-NMDC acquired 1948 acres of land for setting up 3.MTPA steel plant
-Power Firms plans 5-7% tariff hike.
-Tata Steel gets approval to explore Ankua mine.
-Tata Power Ex-Dividend @ Rs 12/share
-Wockhardt increased Authorized capital from Rs 925 crore to Rs 1125 crore (Issued 40 crore prefrence shares of Rs.5 each)
-Ramsarup Inds: Issuance of 35 lakh warrants to Promoter & Stratergic Investor (not more than 10% of company) - also Issuance of FCCB to extend of Rs 1150 crore (Market Cap Rs 300 crore)
-Shilpa Medicare board meet on 16 Aug to consider the issue of equity on preferential basis
-House of Pearl Fashions: Board has approved for Scheme of Arrangement for merger of Pearl Global with House of Pearl Fashions
-Powergrid to lease out towers to telecos.
-Gangotri Iron & Steel: Stock Split in ratio of 2:1
Suzlon Q1 consolidated (cr - crore, vs - versus)-Sales at Rs 2404 cr vs Rs 4175cr (Down 42% YoY)
-Loss at Rs 912 cr vs Rs 452 cr (YoY)
Reliance Communications Q1-Sales at Rs 6977 cr vs Rs 7082 cr (down 1.5% QoQ)
-PAT at Rs 250 cr vs Rs 1219 cr (down 79% QoQ)
Unitech Q1-Revenues: Rs 828 cr vs Rs 1132.9 cr (QoQ) (expectation of Rs 810 cr)
-Net Profit: Rs 180 cr vs Rs 163 cr (QoQ) (expectation of Rs 170 cr)
Wockhardt Q1-Net Loss at Rs 116 cr vs loss of Rs 190 cr
-Net sales at Rs 922 cr vs Rs 954 cr
BEML Q1-Net profit at Rs 14.4 cr vs Rs 5.3 cr
-Net sales at Rs 527 cr vs Rs 465 cr
Cipla Q1-Net profit at Rs 257.4 cr vs Rs 241.7 cr (YoY)
-Net sales at Rs 1,427.4 cr vs Rs 1,325.3 cr (YoY)
Mcnally Bharat Engineering Q1-Sales at Rs 1458 cr vs Rs 967 cr (YoY)
-PAT at Rs 34.6 cr vs Rs 34 cr (YoY)
Nitin Fire Protection Q1-Sales at Rs 89.7 cr vs Rs 53.6 cr ((YoY))
-PAT at Rs 9.63 cr vs Rs 8.6 cr ((YoY))
Sayaji Hotel Q1-Sales at Rs 46.6 cr vs Rs 34 cr ((YoY))
-PAT at Rs 0.6 cr vs loss of Rs 1.13 cr ((YoY))
HMT Q1-Sales at Rs 42 cr vs Rs 39.8 cr ((YoY))
-Loss at Rs 17.5 cr vs Rs 17.7 cr ((YoY))
Akruti City Q1-Sales at Rs 178 cr vs Rs 40.9 cr ((YoY))
-PAT at Rs.42cr vs Rs.10.0cr ((YoY))
Allcargo Log Q1-Sales at Rs.639.4cr vs Rs.523cr ((YoY))
-PAT at Rs.37.8cr vs Rs.46.6cr ((YoY))
Lanco Infratech Q1-Sales at Rs.2125cr vs Rs.2194.9cr ((YoY))
-PAT at Rs.194cr vs Rs.115cr ((YoY))
JK Tyre Q1-Sales at Rs.1167cr vs Rs.900cr ((YoY))
-PAT at Rs.19.5cr vs Rs.40.7cr ((YoY))
Vishal Retail Q1-Sales at Rs.334cr vs Rs.265cr ((YoY))
-Loss at Rs.29.3cr vs Rs.63.24cr ((YoY))
Simplex Infra Q1-Sales at Rs.1174cr vs Rs.1108cr ((YoY))
-PAT at Rs.36.2cr vs Rs.25.6cr ((YoY))
Shree Cement Q1-Sales at Rs.944.5cr vs Rs.922.4cr ((YoY))
-PAT at Rs.105.9cr vs Rs.291.1cr ((YoY))
Bartronics Q1-Sales at Rs.162.7cr vs Rs.162cr ((YoY))
-PAT at Rs.22.5cr vs Rs.23.8cr ((YoY))
ABG Shipyard Q1-Sales at Rs.449cr vs Rs.393cr ((YoY))
-PAT at Rs.38cr vs Rs.47cr ((YoY))
Pipavav Q1 ((Standalone))-Sales at Rs.176cr vs Rs.141.17cr ((YoY))
-Loss of Rs.9.78cr vs PAT of Rs.1.6cr ((YoY))
Bilcare Q1 ((Consolidated))-Sales at Rs.308cr vs Rs.238cr ((YoY))
-PAT at Rs.30.6cr vs Rs.22.8cr ((YoY))
NALCO Q1-Sales at Rs.1397.8cr vs Rs.1036.5cr ((YoY))
-PAT at Rs.284cr vs Rs.126cr ((YoY))
Koutons Retail Q1-Sales at Rs.161.5cr vs Rs.201cr ((YoY))
US stocks closed out their worst week in six with a whimper on Friday, slumping toward the close as economic data gave little reason to reverse a string of sell-offs.
The Dow Jones industrial average dropped 16.80 points, or 0.16%, to 10,303.15. The Standard & Poor's 500 Index dropped 4.36 points, or 0.40%, to 1,079.25. The Nasdaq Composite Index dropped 16.79 points, or 0.77%, to 2,173.48.
Discalimer: This document has been prepared by the Research Division of Integrity Financial Consultants Pvt. Ltd.(IFCL),Pune, India and is meant for use by the recipient only as an informative. This document is not to be reported or copied or made available to others without prior permission of (IFCL). It should not be considered or taken as an offer to Buy or Sell or a solicitation to Buy or Sell any security. These views alone are not sufficient and should not be used for
the development or implementation of an investment strategy. It should not be construed as an investment advice to any party. All opinions and estimates included here constitute our view as of this date and are subject to change without notice. The information contained in this report other than the recommendations has been obtained from sources that are considered to be reliable. However, (IFCL) has not independently verified the accuracy or completeness of the same. Neither (IFCL) nor any of its affiliates, business associates, its directors or its employees accept any responsibility of whatsoever nature for the information, statements and opinion given, made available or expressed herein or for any omission therein. Recipients of this report should be aware that past performance is not necessarily a guide to future performance and value of investments can go down as well as the market related investments are subject to market risk and volatility. The suitability or otherwise of any investments will depend upon the recipient's particular circumstances and, in case of doubt, advice should be sought from an independent expert/advisor. Either (IFCL) and / or its affiliates and / or its business associates and / or its directors and / or its employees and / or its representatives and / or its clients and / or their relatives may have position(s), make market, act as principal or engage in transactions of securities of companies referred to in this report and they may have used the research material prior and / or after to publication. The information shared in this blog may be and or may not be 100% perfect as it is being shared from many sources. It is recommended for the recipients to take their decisions according to re-verification of the shared information. No arguments and / or claims and / or objections will be entertained.
13th August 2010 Intraday Recommendation 08:53 Note : Follow Buy Calls in Positive Market Bias and v.v.
Buy Axisbank sl 1308 T 1336
Buy Gail sl 444 T 453
Buy Biocon sl 326 T 352 P
Buy Cumminsind sl 652 T 680 P
Buy Drreddy sl 1337 T 1368
Buy Glenmark Abv 272 sl 268 T 278
Buy MRPL sl 78.5 T 81
Buy Patni sl 471 T 490 P
Sell Aban sl 840 T 819
Sell TCS sl 860 T 844
Sell Adanient Bel 598 sl 607 T 588/577
Sell McDowell-n sl 1418 T 1401
Sell Zeel sl 303 T 295
Tata Steel :(Results Update)
India’s biggest producer, turned to first-quarter group profit after demand from automobile and engineering companies gained.
Net income, including that of U.K. unit Corus, was 18.3 billion rupees ($391 million) in the three months ended June 30, compared with a 22.1 billion rupee loss a year earlier, the Mumbai-based company said today in a statement. The median profit estimate of 10 analysts in a Bloomberg survey was 19.1 billion rupees. Sales rose 16 percent to 270.1 billion rupees.
Rising income levels lifted India’s car sales by more than 30 percent each month in the April-to-June period. The price of hot-rolled coils in India rose 29 percent in the quarter, Bloomberg data showed, while average three-month Mediterranean steel futures on the London Metal Exchange rose 42 percent.
Rising Prices
Tata Steel Europe’s average selling price in the quarter was $1,000 a ton, the highest in almost two years, Chief Executive Officer Kirby Adams said today at a media conference in Mumbai. Steel consumption in Europe increased 33 percent in the quarter, he said.
Corus, which provides more than two-thirds of Tata Steel’s output, increased production after orders picked up from automobile and engineering companies in Europe. While automotive demand was better than expected, demand from construction companies in Europe remained weak, said Karl-Ulrich Kohler, who will replace Adams on Oct. 1.
Capacity use in the current quarter in Europe is 80 percent to 90 percent and may continue at 90 percent in the third quarter, he said, without giving first-quarter figures.
Raw material contract prices have continued to rise in the current quarter and while the spot prices are below contract prices, the future remains “uncertain,” Kohler said.
Iron ore and coking coal prices in April surged after Vale SA, the world’s largest iron ore producer, and BHP Billiton Ltd. ended a 40-year system of setting annual prices by signing short-term contracts with Asian steelmakers. The Brazilian company won a 90 percent increase for iron ore.
Debt Risk
Tepid demand in the summer months, coupled with European sovereign debt risks and fiscal cuts, pose additional threats to demand revival, Adams said.
First-quarter profit fell 25 percent from the previous quarter because of lower prices following a surge in imports. India imported 2.76 million metric tons of steel in the three months ended June 30, compared with 1.52 million tons a year earlier, A. Sai Prathap, junior steel minister said on Aug. 6.
Tata Steel sold 1.4 million tons in the first quarter, unchanged from a year earlier, while production gained 8.25 percent to 1.63 million tons, the company said on July 6.
Tata Steel’s net debt as on June 30 was 457.1 billion rupees, Chief Financial Officer Koushik Chatterjee said at the conference. The company plans to refinance as much as $6.5 billion of long-term debt, he said, without giving a timeframe.
The company began talks with lenders including Citigroup Inc. to refinance as much as 3.5 billion pounds ($5.4 billion) in loans for its U.K. unit, six people with knowledge of the matter said on July 19.
Corus, which has plants in the U.K., the Netherlands, Germany, France and Belgium, is still in talks with potential buyers for its mothballed Teesside operations, Adams said. The company hired Citigroup to assist the sale of the plant in northern England, it said in May.
Market ignored more than expected growth in Industrial Output growth.Nifty ended at 5415.60 with 5 points negative and Sensex ended at 18075.91 with 5.72 points of gain.
Industrial production for the month of June grew 7.1% as against 11.3% in May 2010, expected growth was 8.2%.
Among BSE Sectoral Indices, Bankex gained the most by 1.68 % whereas IT Index was the top loser with 0.72%
SBI was the top gainer in Nifty50 stocks with 6.82% gain and ended at 2776.95.Ambujacem was the top loser with 2.61% and ended at 117.40.
SBI was the turnover topper stock while Untech was the top traded stock on NSE today.
Market breadth was negative as 755 stocks declined and 580 stocks gained today on NSE.
12 August Morning Market Updates 09:09
Recommendation :
Note:Follow Buy Calls in Positive Market Bias and v.v.
Buy Gail sl 444 T 453
Buy LT Abv 1837 sl 1827 T 1864
Buy Maruti Abv 1235 sl 1226 T 1251
Buy Relcapital Abv 785 sl 781 T 794
Hold Short Nifty Fut sl 5437 T 5370
Sell BankNifty Fut sl 10420 T 10343
Sell Aban sl 867 T 835
Sell Bhartiartl Bel 318 sl 323 T 314
Sell Bhel Bel 2476 sl 2487 T 2461
Sell HDFC sl 3012 T 2963
Sell Infosystch sl 2821 T 2792
Sell ITC Bel 154 sl 156 T 151.5
Sell TCS Bel 854 sl 864 T 842
Sell Wipro sl 424 T 412
Results Today: SBI, Tata Steel, Tata Motors, Ranbaxy, Divis Labs, Shree Renuka, MTNL, Ansal Propperties, Apollo Hospital, Cummins India, Indraprastha Gas, Indo Rama Syn, Indiabulls Real Estate, HPCL, Hindustan Copper, Hathway Cable, Dishman Pharma, Moser Baer, PTC India, Talwalkar RIL- Sources
-RIL treasury stake sales to resume
-Tranche 4 likely soon; to be upwards of USD 1 billion
-Deal likely at slight discount to CMP
-LIC likely to participate in tranche 4 M&M
-Selected as preferred bidder to acquire controlling stake in Ssangyong Motors
-Ruia group has been picked up as secondary preferred bidder
-Ssangyong to wrap up sale proceeds by October this year Board Meets
-Essar Shipping: Restructuring
-Greaves Cotton: Stock Split
-Indowind Energy: FCCB
-Kalindee Rail: Issue of Security Aksh Optic Fibre
-QIP to open on August 16
-Issue price fixed at Rs 19.20/sh Ex-Dates
-Adani Enterprise: Ex-Dividend @ Rs.1/shr
Balaji Tele: Ex-Dividend @ 0.3/shr
Globsyn Info: Ex-Reduction of Capital ((Reduction of Capital of by 50%))
Indo Gulf Inds : Ex-Scheme of Arrangement (( Reduction of Capital by 90% , approved by BIFR)) Other stocks and sectors that are in news today:
-L&T’s Deosthalee to retire next year, may head L&T Finance – ET
-Vishal Retail plumps for TPG over Future group, even the lenders seen favouring TPG – BS
-Solrex Pharma, a firm owned by Singh brothers sells part of its stake in Orchid Chem, sells 8.5 lakh shares @ Rs 196/sh
-Prakash Industries in talks to buy Nova Iron and Steel – DNA (Nova is BSE listed, CMP Rs 18.7/sh)
-Engineers India: 3.36 crore shares of FPO allotted to shareholders in DP ((Eligible for trading in 2 days))
-Sterling Holiday: Board Meeting on August 18, 2010
-SCI: Board approved FPO upto 20% ((Including fresh shares))
-Punjab Alkalies: Approved constitution of Committee for opening & short-listing of EOI for disinvestment
-Pioneer Embroideries: Allotment and issue of Preference shares amounting up to Rs 30 crore Videocon Industries Q3
-Sales at Rs 2893 crore versus Rs 2461 crore (YoY)
-PAT at Rs 153 crore versus Rs 124 crore (YoY)
Dunlop India Q1
-Sales at Rs 48 crore versus Rs 50.5 crore (YoY)
-PAT at Rs 0.8 crore versus loss of Rs 0.28 crore (YoY)
Parsvnath Developers Q1FY11(QoQ)
-Revenues: Rs 257.07 crore versus Rs 358.49 crore
-Net Profit: Rs 31.82 crore versus Rs 34.72 crore Sterling Holidays Q1
-Sales at Rs 10.1 crore versus Rs 9.07 crore (YoY)
-Loss of Rs 1.8 crore versus PAT of Rs 0.54 crore (YoY)
US Markets :
U.S. stocks fell Thursday as weaker-than-expected weekly jobs data added to investors' jitters a day ahead of the federal government's monthly payrolls report. The Dow Jones Industrial Average tumbled 265.42 points, or 2.49%, to 10378.83, in its biggest one-day point drop since June 29. Wednesday marked the 11th time the Dow fell more than 200 points in a day this year, and the decline put it into negative territory for the year. The Nasdaq Composite slid 68.54, or 3.01%, to 2208.63. The Standard & Poor's 500 index fell 31.59, or 2.82%, to 1089.47. For both measures, Wednesday marked the biggest one-day drop since July 16.All 30 of the Dow's components fell, with Alcoa, Boeing and Caterpillar hit the hardest. Alcoa dropped 69 cents, or 6.1%, to 10.66, while Boeing fell 3.02, or 4.4%, to 65.60, and Caterpillar declined 2.71, or 3.8%, to 68.71.
Indian market tumbled on weak global cues.European markets were trading nearly 2% down and the Dow Future was trading with 123 points negative at the time when Indian markets were closing.Hangseng closed 179 points down while Nikkei closed down with 258 points.Nifty ended near its day's low at 5412.95 with 47.75 points lower while Sensex ended at 18045.64 with 174.35 points in negative.
All BSE Sectoral Indices ended in negative.Realty Index was the top loser with 1.73%.
Tatamotors was the top gainer in Nifty50 stocks, gained 5.11% and ended at 1006.20 while Tatasteel was the top loser with 3.23% and ended at 519.
Tatamotors was the top traded stocks in terms of turnover while IFCI was the most traded stocks on NSE.
Overall market breadth was negative as 862 stocks declined and 482 stocks gained today on NSE.
Results today: Bharti Airtel, Bajaj Hindusthan, Videocon Industries, Parsvnath, Bharati Shipyard, Bosch, Everonn, Financial Tech, Man Aluminium, Marg, Sundram Fast
Bombay HC Says
SEBI to take decision on equity trading on MCX-SX by September 30
SEBI to take decision on licence renewal in 6 weeks
SEBI to expedite process as MCX-SX suffering losses
MCX-SX to issue board resolution on not exceeding 5% limit
Novelis Q1FY11
Net Sales at USD 2.5 billion versus USD 2.4 billion (up 5% QoQ)
Adjusted EBITDA at USD 263 million versus USD 233 million (up 13% QoQ)
EBITDA at USD 235 million versus USD 168 million (up 40% QoQ)
PAT at USD 50 million versus loss of USD 1 million
Other stocks and sectors that are in news today:-ONGC says: Govt likely to raise more than Rs 13,000 crore from 5% stake sale Asian Hotel (East) to list today
DoCoMo to invest USD 1 billion in Tata Teleservices, expected to get 10-15% more in the company (Tata Teleservices is unlisted)
Canadian firm offer to buy out GMR’s stake in Intergen for USD 1 billion – BS (GMR had bought the stake for USD 1.1 billion)
Board Meet - SCI board meet today on FPO HCC bags contract worth Rs 121.2 crore Vadilal Ind board approves fund raising up to Rs 80 crore via equity linked instruments Rohit Ferro-Tech started commercial production of the company's new 100% EOU at Haldia
Piramal Healthcare Q1 (cr - crore, vs - versus)
Cons net profit at Rs 80.7 cr Vs Rs 85 cr
Cons net sales at Rs 842 cr
F&O cues:
Futures Open Int was up by Rs 637 crore
Bazaar
Excerpts from Bazaar on CNBC-TV18 Watch the full show »
Options Open Int was up by Rs 4286 crore
Nifty Futures add 4.8 lakh shares in Open Int
Nifty Futures flat versus at 6 pts discount
Nifty Open Int PCR at 1.43 versus 1.39
Nifty Puts add 51.5 lakh shares in Open Int
Nifty Calls add 16 lakh shares in Open Int
Nifty 5300 Put adds 11.1 lakh shares in Open Int
Nifty Sep 5200 Put adds 10 lakh shares in Open Int
Nifty 5500 Call adds 5.3 lakh shares in Open Int
Nifty 5600 Call adds 4.6 lakh shares in Open Int
Nifty Sep 4900 Put add 5.5 lakh shares in Open Int
Stock futures add 86 lakh shares in Open Int FIIs in F&O on August 10
Net sell Rs 330 crore in Nifty Futures
Net buy Rs 489 crore in Nifty Options
Net buy Rs 47 crore in Stock Futures Market cues:
US markets Off days low post FOMC announcement
Shrug negative data
Results today:
Bharti Airtel, Bajaj Hind, Everonn, Financial Tech, Parsvnath Dev, Videocon Ind
NSE F&O Open Int was up by Rs 4923 crore at Rs 1.55 lakh crore
As per provisional data of August 10, FIIs were net buyers of Rs 600 crore; DIIs were net sellers of Rs 541 crore in cash markets. FIIs were net buyers of Rs 150 crore in F&O. US Markets:
US markets ended lower but pared losses from day's lows after the Federal Reserve said it would reinvest proceeds from maturing mortgage securities into the treasury market.
The Dow closed more than 50 points down; the Nasdaq ended more than a percent down while the S&P 500 closed at 1,121.
In economic data, wholesale inventories rose 0.1% in July, while sales fell 0.7%.
Ira Jersey, Credit Suisse said that, “When you look at what the Fed Reserve owns already they are limited to 35% of each treasury bond out there and really where they have the most capacity is something in 7-8 yr bucket and that is where we think you would invest from a total invest perspective. I agree that it will be a new policy and this is just another thing that shows that the Fed won’t be raising rates anytime soon and there is something else they have to unwind in order to start hiking.”
In the forex market, the dollar fell against the yen and the euro after the Federal Reserve announced plans to boost a flagging economy.
In commodities, crude is trading near a 1 week low after the labor department reported the productivity of Us workers fell in the second quarter.
Copper prices fell to a one-week low on concern that cooling economies in the US and China will erode demand for the metal.
Negative global indices made our market to end negative.Nifty ended at 5462.05 with 24.10 points negative and Sensex ended with 64.43 points down at 18223.07.
Among BSE Sectoral Indices,Realty gained the most by 0.46% whereas IT Index lost the most by 1.40%.
Tatamotors was the top gainer in Nifty50 stocks with 4.43% gain to end at 966 and Abb was the top loser with 2.17% and ended at 783.20.
Tatamotors was the top traded stock in the form of Traded Value and Unitech was the top traded stock in the form of Quantity traded on NSE.
Market breadth was negative as 836 stocks declined and 492 stocks gained today on NSE.
