Grey Market Premium - Infinite Computer Solutions

Company Name

Offer Price

(Rs.)

Premium

(Rs.)

Infinite Computer

155 to 165

12 to 15

MBL Infra

180

10 to 12

Sensex may open flat

Headlines for the day
United Spirits mulls bond issue to refinance Rs3,000-crore debt
ONGC exits Trinidad and Tobago block
Pfizer to source 40 off-patent cancer care drugs from Strides
BHEL bags order for solar plant in state
Nalco eyes Rs25,000 crore by 2020
Events for the day
Major corporate action:
Ex-date for Amalgamation of Titagarh Steel Ltd
Weekly Inflation Numbers
Pre-market report
Global signals
On Wednesday European Markets closed flat. FTSE 100 closed 0.14% higher at 5530.
The US markets closes flat on Wednesday after Federal Reserve Official said that they were steel worried about labor market weakness. Nasdaq 100 declined 8 points and closed the day at 2301.
Among the Asian indices, all the Asian indices are trading weak except the Shanghai Composite & Nikkei that rises marginally. At the time of writing of this report, SGX Nifty is trading 1 points higher.
Indian markets
The domestic indices are expected to open flat, remain range-bound volatile, owing to weak global markets.
Among the local indices, the Nifty could test the 5300-5325 range on the up side, while on the down side it could find support at 5250 and 5200. While the Sensex is likely to get support at 17600 and may face resistance at 17850.
Indian ADR's
Among the Indian ADRs trading on the US bourses, Satyam leads the chart of gainers with gain of 3.98%. On other hand ICICI Bank was the worst performer with loss of 1.58%.
Commodity cues
In the commodity space, wherein the Crude oil prices recorded gain, with the Nymex light crude oil for February series rose by $1.05 to settle at $82.82 a barrel.
In the metals space, Comex Gold for February series rise by $18.30 to settle at $1137.00 to a troy ounce.
In the metals space, Comex Silver for March series rise by $0.38 to settle at $18.18 to a troy ounce.
Daily trend of FII/MF investment in equities
On January 06, 2010, FIIs were the net buyers of the Indian Stocks in the tune of Rs1061.90 crore (with the gross purchase of Rs3338.30 crore and gross sales of Rs2276.30 crore).
While the Domestic mutual funds, on January 05, 2010, were the net buyers of the stocks in the tune of Rs43.40 crore (with gross purchase of Rs1030.70 crore and gross sales of Rs987.30 crore).

Stocks at Wall Street end almost flat

Stocks do not react much on a day full of catalysts
US stocks lacked direction for the entire day on Wednesday, 06 January 2010 and ended almost flat. Stocks pared almost all their mid day gains, mainly led by the technology sector. The materials and energy sectors tried to support the market though. Economic reports checked in mixed in nature though did not move market either way. The latest Federal Open Market Committee meeting minutes were released today.
At the end of the day on 06 January, 2010, the Dow Jones Industrial Average ended higher by 1.66 points at 10,573.68. Nasdaq Composite ended lower by 7.62 points at 2301.09. S&P 500 ended higher by 0.62 points at 1137.14. Dow was trading higher by 17 points earlier during the day.
Six of the ten economic sectors ended higher for the day led by materials, energy, and financial sectors. Telecom and technology sectors lagged. Consumer discretionary sector remained almost unchanged.
Blue chips fought the entire day to keep the Dow in positive territory. The broad-based S&P 500 also battled to remain in the green.
Google, Oracle and Microsoft were the main laggards in the technology sector.
According to the latest Federal Open Market Committee meeting minutes, members said that more stimulus might become desirable, but that asset purchases could be scaled back. Officials also expressed a continued concern about a weak labor market.
Among major economic data expected for the day at Wall Street, The ADP employment report in US showed on Wednesday, 06 January, 2010 that private-sector firms in the U.S. eliminated 84,000 jobs in December, the 23rd decline in a row. It was the fewest jobs lost since March 2008. But the figure was more than an estimated 75,000. In November, a revised 145,000 jobs were lost, compared with the 169,000 originally reported.
Separately, The Institute for Supply Management reported in US on Wednesday, 06 January 2010 that the service sectors of the U.S. economy rebounded in December 2009. The ISM non-manufacturing index rose to 50.1% from 48.7% in November. Market was expecting the ISM non-manufacturing index to rise to 51%.
Readings above 50% in the diffusion index indicate that activity at more firms is expanding rather than contracting. The report showed that seven industries reported growth, while nine reported contraction.
Crude prices ended higher at Nymex on Wednesday, 06 January 2010. Prices rose following the cold weather and lower dollar. Price climbed up despite the energy department reporting a build up in crude inventories for last week.
On Wednesday, crude-oil futures for light sweet crude for February delivery closed at $83.18/barrel (higher by $1.41 or 1.7%). During intra day trading it fell to $80.85/barrel. Prices have now risen for ten consecutive sessions and have gained 14.7% in that stretch.
The EIA reported today that U.S. crude inventories rose by 1.3 million barrels in the week ended 1 January, 2010. The report also showed that gasoline inventories increased by 3.7 million barrels. Distillate stockpiles fell 300,000 barrels. The EIA data also showed that net crude imports rose 4.1% to 8.323 million barrels a day. Refiners reduced their production last week, operating at 79.9% of their operable capacity, down from the previous week's 80.3%.
Market was anticipating that weekly inventory report by energy department will show crude and gasoline stockpiles to have dropped by 0.2 million and 0.5 million barrels last week respectively.
In the currency market on Wednesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell by almost 0.2% following mixed economic data.
Indian ADRs ended mixed today. Dr Reddys and Rediff.com were the main gainers soaring 3.4% and 2.9% respectively. ICICI Bank and Infosys Technologies, each lost 1.5%.
For tomorrow, there are a few economic and earning reports expected. The initial and continuing claim reports are the economic ones expected.

Aptech

We recommend buying the stock of Aptech from a short-term perspective. It is evident from the charts of the stock that it encountered key resistance at around Rs 296 in September 2009 and began to decline. The stock's downtrend got accelerated in late October. However, it found support at around Rs 165 in late October, having completed a50 per cent fibonacci retracement of its prior up move. This support was retested during end-November and saw the stock consolidating in the range between Rs 165 and Rs 195 till early January. Recently, the stock moved up to surpass its 21 as well as 50-day moving average and also exceeded the resistance at Rs 195. We notice that there has been an increase in volumes over the past three trading sessions. The daily relative strength index has entered in to the bullish zone from the neutral region and weekly RSI is inching towards this zone in the neutral region. The daily moving average convergence and divergence indicator is on the brink of entering the positive territory that reinforces the bullish momentum. Our short-term outlook on the stock is bullish. We expect it to rally until it hits our price target of Rs 225. Traders with short-term perspective can consider buying the stock with Rs 193 as stop-loss.
via BL

Reliance Industries may hog limelight

Reliance Industries (RIL), which raised Rs 2,675 crore through the sale of treasury shares on Monday, 4 January 2010, is reportedly looking to generate a similar amount over the next few weeks by selling more stock to institutional investors. The stake is likely to be offered at a discount of 2-4% as part of a strategy to beef up its cash reserve.
The fund would be used for its immediate requirement in exploration and production (E&P), debt repayments and acquisition of bankrupt chemical giant LyondellBasell.
Meanwhile RIL which has proposed to invest $1.5 billion more in developing satellite gas finds in the prolific KG—D6 block, will drill six wells this year. RIL has till date made 19 discoveries-18 gas and one oil-in deep-sea block KG-DWN-98/3 or KG-D6. Of these, it developed Dhirubhai-1 and 3 gas fields in the first phase at an investment of $8.836 billion. It has now proposed to invest another $1.5 billion in bringing to production four satellite finds in the block.
Telecom stocks may come in spotlight on reports the nine-member empowered group of ministers (EGoM) headed by finance minister Pranab Mukherjee will meet in Delhi today, 9 January 2009, to take a final call on the payment timeline for the third generation (3G) spectrum auctions, as there is no consensus between finance and telecom ministries on this issue.
Shares of commercial vehicle manufacturers will see action on reports they have either increased or are in the process of hiking prices of trucks on the back of runaway commodity prices.
Prices of key input items like steel, copper, aluminum; rubber and crude are heading north.
Meanwhile, addressing a press conference at the Auto Expo in New Delhi on Wednesday, Mr Ravi Pisharody, President – Commercial Vehicles Business Unit, Tata Motors said he expects the recent buoyancy in demand in the segment to continue for some more time. It anticipates double-digit growth in sales in 2010-11.
ICICI Merchant Services, the newly-formed joint venture (JV) between ICICI Bank and First Data Corporation (FDC), plans to expand its Point-of-sale (PoS) terminal network to 500,000 over the next five years, reports suggested. At present, the bank has a merchant acquiring network of 150,000 terminals. FDC will own 81% stake in the JV with ICICI Bank holding the remaining stake.
As per reports the Bharti Airtel-Warid deal is underway and is nearing completion. The green signal for the deal is likely when Bangladesh Prime Minister Sheikh Hasina visits India next week. The Bangladesh telecom regulator has already approved Bharti's proposal. Bharti Airtel is likely to invest $300 million for a 70% stake in Warid.
Strides Arcolab has entered an agreement with Pfizer Inc. to supply the U.S. company with non-patent injectable and oral drugs. The generic drugs will be produced by two joint ventures between Strides Arcolab and South Africa's Aspen Pharmacare Holdings. The two ventures are called Onco Laboratories and Onco Therapies. The agreement, financial terms of which were not disclosed, is for 40 off-patent products, many of which are for treating cancer.
ABG Shipyard through a unit has acquired 57 lakh shares, or 15.2%, of Great Offshore through an open offer. The open offer for acquiring a 20% stake in Great Offshore was made at Rs 590 a share.

Daily News Roundup - Jan 7 2010

RIL is looking to raise more funds by selling more stock to institutional investor in the next two weeks. (BS)
RIL will drill 6 new wells in KG-D6 block during the current year. (BS)
L&T has bagged Rs23.25bn worth of order during Q3 FY10 for construction of residential towers, hospital, exhibition centre, IT Park and factory building. (BS)
ICICI Bank has cut car loan rates to 9.75-10.5%. (ET)
ONGC has been forced to exit from a gas block in Trinidad and Tobago after its partner Lakshmi Mittal walked out of the project. (BS)
Government can nod to offload 10% in BSNL. (BS)
Reliance Infrastructure, L&T, IVRCL and KMC Constructions have been identified as `preferred bidders' for Rs82bn highway projects, which are to be awarded on negative grant from the private players soon. (FE)
BHEL has bagged Rs420mn contract from Karnataka Power Corporation Ltd. (BS)
Ashok Leyland has unveiled countries first electric plug-in CNG hybrid bus, HYBUS at the auto expo. (BS)
IVRCL Infra has secured orders worth Rs9.6bn. (BL)
ABG Shipyard, through unit, has acquired 5.7mn shares or 15.2% of Great Offshore via open offer. (BS)
Ansal API, is all set to launch a major affordable housing project in Agra. (FE)
Ranbaxy Lab has started discussions to buy a privately-held Bangalore-based vaccine company, deal size could be around Rs500mn. (ET)
Pfizer is planning to source 40 off patient cancer drugs from Strides Arcolab. (BS)
Wockhardt has received a tentative approval from USFDA for sale of its generic memantine HCL, which is used to treat Alzheimer's and dementia. (FE)
United Spirits mulls bond issue to refinance Rs30bn debt. (BS)
PSL has bagged an order worth Rs4.25bn for water supply projects. (BL)
Pradeep Jain, chairman of Parsvnath Developers has pledged 83.66% of the stake he owns in the company with lenders. (BS)
Ruchi Soya Industries has acquired over 50% stake in Andhra Pradesh-based Gemini Edible and Fat for Rs450mn in order to consolidate its presence in the southern markets. (ET)
UCO Bank has recorded 22.1% growth in advances and 19.8% growth in deposits for Q3 FY10. (BS)
SEBI has extended the tenure of contracts in securities lending and borrowing to 12 months from current 1 month. (BS)
Government to announce stimulus package for select exporters soon. (BS)
Finance secretary hinted that the government may be looking at an exit from the stimulus. (ET)
Government to scan Register of Companies data for writing corporate policy. (ET)
Maharashtra Government is planning to invest Rs80bn to set-up 2000Kms of gas infrastructure and transportation grid. (BS)
Petroleum Ministry is seeking Rs310bn either in cash or bonds to compensate oil marketing companies in the current fiscal for there losses on cooking fuels. (BL)
EGoM headed by finance minister Pranab Mukherjee will meet to take a final call on the payment timeline for the 3G spectrum auctions. (ET)
Fertilizers ministry has urged the finance ministry to urgently resolve the liquidity problems faced by the country’s fertilizer industry following no payment of subsidy dues by the government since October 2009. (ET)
State-owned oil companies will present a health report to Prime Minister Manmohan Singh. (ET)
Government plans to slap new entry route restrictions on FDI beyond 49% in eight specified "sensitive" sectors, including airports, seaports, pharma, petroleum refining and gas pipelines. (FE)

Tired Thursday on the Street!

It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong.

Looks like the market can't make up its mind on where to go. After a strong start, the market appears to have slipped back into consolidation zone yet again. Most players are awaiting India Inc. to kick off the earnings season. The bright news on this front has been mostly discounted. What company head honchos say (and do) about the medium term outlook will be crucial.

A lot of hopes are pinned on the Budget (which may be on a Saturday) and corporates and investors will hope it is not just another annual ritual this time. Any government announcement on its ‘exit’ from the fiscal stimulus would be a key element. By the end of this month, we are most likely to hear from the RBI on its plan to reverse the easy monetary policy.

Today we expect a flat opening and another choppy day. With lack of triggers - positive or negative - some shuffling of portfolios could take place. A softening before the results could give more confidence for investors to re-enter.

FIIs were net buyers in the cash segment on Wednesday at Rs6.6bn on a provisional basis. The local funds were net sellers of Rs2.86bn, according to figures published on the NSE's web site. As per the SEBI figures, FIIs were net buyers of Rs10.62bn in the cash segment on Tuesday.

Globally too all seems to be quiet at the moment. Markets continue to drift after the year-opening rally amid lack of fresh impetus. However, commodity prices, including crude oil, have firmed up. US monthly jobs data on Friday could have a temporary bearing on sentiment. Some concerns still remain on sovereign debt default.

A slow recovery is still the most likely scenario for the global economy. So, policymakers cannot afford to withdraw the stimulus measures in a haste. People are still cautious as nobody has a clue on how the economic recovery will unfold and what impact it will have on the markets. Plenty of money is still on standby, and this will find its way into equities if the incremental news turns out to be better than expected.

On Wall Street, the Nasdaq slipped a bit and the broader market was largely volatile on Wednesday as investors considered weakness in technology and telecom along with signs of stabilization in the job market and services sector of the economy.

The Dow Jones Industrial Average ended just above unchanged, at 10,573.68. The S&P 500 index was little changed as well, at 1,137.14. The Nasdaq Composite lost 7 points, or 0.3%, at 2,301.09.

After starting off the new year with a big rally, investors were cautious, with stocks churning in a tight range on Tuesday and on Wednesday. A stronger dollar and some nervousness ahead of Friday's big monthly jobs report kept investors at bay.

Market participants are also likely holding back in the wake of a big 2009, in which the S&P 500 gained 23%, the Dow industrials added 19% and the Nasdaq added 44%.

Two private firms released reports on the December labor market, ahead of Friday's big non-farm payrolls report from the government.

Payroll services firm ADP said employers in the private sector cut 84,000 jobs from their payrolls last month, the smallest monthly decline since March 2008. However, economists were expecting 75,000 cuts, on average. Employers cut 145,000 jobs in November.

Outplacement firm Challenger, Gray & Christmas reported that 45,094 job cuts were announced in December, down from November's 50,349 figure. December 2009's number was the lowest since December 2007.

On Friday, the government is expected to report no change in non-farm payrolls last month, after employers cut 11,000 in the previous month. The unemployment rate, generated by a separate survey, is expected to show that the unemployment rate rose to 10.1% from 10% in November.

The Institute for Supply Management's services sector index rose to 50.1 from 48.7 in the previous month. Economists thought it would rise to 50.5, on average. A reading over 50 indicates expansion in the sector.

The Federal Reserve released the minutes from its December policy meeting. At that meeting, the bankers opted to continue to hold interest rates at historic lows near zero. The minutes showed the bankers thought that the economy was continuing to strengthen and that downside risks were waning.

Ford Motor rallied 3.7% in active New York Stock Exchange trading one day after it reported strong December sales at the end of one of the worst years in memory for the automakers.

On Tuesday, Ford said that US sales jumped 34% in December versus a year ago and rose 50% from November. For the year, sales fell 15%. Ford's December sales were better than expected. Toyota and Honda also reported better-than-expected results.

Dow component 3M gained 1.4% after Goldman Sachs upgraded it to its "Conviction Buy" list from a "Buy" rating.

The dollar fell versus the euro gained against the yen.

COMEX gold for February delivery gained $17.80 to settle at $1,136.50 an ounce. Gold closed at an all-time high of $1,218.30 an ounce last month.

US light crude oil for February delivery rose $1.41 to settle at $83.18 a barrel on the New York Mercantile Exchange, the highest close since October 2008.

Treasury prices fell, raising the yield on the 10-year note to 3.80% from 3.75% late on Tuesday.

Stocks in Europe fluctuated between gains and losses as the market continued to meander after the year-opening rally. The pan-European Dow Jones Stoxx 600 index, moving in a narrow trading range through the day, finished up 0.1% to 257.83.

The UK's FTSE 100 index slipped 0.1% to 5,530.04, while the German DAX index was roughly flat at 6,034.33 and the French CAC 40 index inched 0.1% higher to 4,017.67.

Bulls which seemed to be happy for the past couple of days witnessed a round of profit-booking on Wednesday. The Nifty did manage to pierce the 5,300 milestone today in the early trades but was unable to hold on to the gains as selling in IT, telecom and select metal stocks dragged the benchmark indices to end on a flat note.

Apart from Pharma, Realty and Oil & Gas stocks, even the tea and sugar stocks were in demand; the broader indices also ended with smart gains.

Cues from the international equity markets were not that encouraging, US stocks ended with modest losses whereas Asian markets ended on a flat note.

The BSE Sensex edged higher by 15 points to end at 17,701 after touching a high of 17,790 and a low of 17,636. The Nifty ended flat at 5,282.

Equity markets in Asia were positive. The Nikkei in Japan was up 0.5%, while Australia's S&P/ASX ended flat. However, the Shanghai SE Composite was down 0.8% and Hang Seng index in Hong Kong was up 0.7%.

In Europe, stocks were trading slightly lower. The DAX in Germany was down 0.2% and the CAC 40 index in France was down 0.3%. The FTSE in the UK was down 0.4%.

Coming back to India, among the BSE sectoral indices, the Pharma index was the top gainer, adding 2.2%, followed by the Realty index that was up 1.2% and the BSE Oil & Gas index was up 1%. Even the BSE Mid-Cap index gained 0.7% while the BSE Small-Cap index was up 0.4%.

Among the 30-components of Sensex, 16 stocks ended in the positive terrain and 14 ended in the red. Grasim, Tata Power, M&M, DLF and Reliance Industries were among the top gainers.

On the other hand, among the major losers were Maruti, Reliance Infra, Hindalco, TCS and Tata Steel.

Outside the frontline indices, the big gainers in the broader market were Adani Enterprise, Fin Tech, Pantaloon Retail, REI Agro and Tulip Telecom. On the other hand, losers included Apollo Hosp, Godrej Cons, HCL Tech and Jai Corp.

DB Corp, the media house had a fantastic debut on the Indian bourses, the stock commenced trading at Rs250 per share on BSE as against its issue price of Rs212 per share. And after having a steady day of trade, the stock finally settled at Rs266 translating in to a premium of 25%.

The stock hit an intra-day high of Rs274.60 and a low of Rs235.50. Total volumes on the counter was 10.9mn shares on the BSE.

The company had a big hit with its IPO last month with the issue getting subscribed by nearly 40 times last month. DB Corp, which publishes Dainik Bhaskar, entered the capital markets with its IPO of 1.81 crore equity shares on December 11, 2009 at a price band of Rs.185-Rs 212.

Despite choppy market conditions, the IPO received a record response from investors with even the retail segment getting subscribed by 3.4 times. The HNI portion got subscribed 25.86 times and QIB 68.47 times. Enam Securities Private Limited, Citigroup Global Markets India Private Limited and Kotak Mahindra Capital Company Limited are the Book Running Lead Managers to the issue.

Shares of Gitanjali Gems surged by over 3.5% to end at Rs127 after ~2.4mn equity shares of the company were transacted at an average price of Rs124.95 on BSE. The scrip opened at Rs123.20 it touched an intra-day high of Rs129.80 and a low of Rs123.20 and recorded volumes of over 3.2mn shares on BSE.

Shares of Maruti Suzuki slipped by 3.5% to end at Rs1462 after the Reserve Bank of India on Tuesday announced that foreign investors need to get an approval before acquiring any more shares as holdings approached their limit. The scrip opened at Rs1520 it touched an intra-day high of Rs1520 and a low of Rs1460 and recorded volumes of over 0.36mn shares on BSE.

Hindustan Zinc announced that it plans to raise its metal output capacity to 1mn ton by Mid-2010 and it was looking for consultants for silver recovery. Shares of Hindustan Zinc ended lower by 1% at Rs1229. The scrip opened at Rs1245 it touched an intra-day high of Rs1257 and a low of Rs1222 and recorded volumes of over 28,000 shares on BSE.

Steel Strips Wheels announced that BMW nominated the company for the supply of spare wheel for its prestigious MINI model. Currently BMW is making MINI model at a single location in Oxford UK Only and it is being exported worldwide.

The said Wheel is under development and supply is likely to start in the middle of 2010 after BMW approvals. The annual Quantity of the wheels to be supplied is 48,000 per annum and the Company will supply the same from its Chennai plant.

The stock was locked at 5% upper circuit at Rs111.8, it opened at Rs104 it touched an intra-day high of Rs111 and a low of Rs104.6 and recorded volumes of over 2.3mn shares on BSE.

Shares of Pidilite Industries shot up by over 12.5% to end a Rs220 after the company announced that it is planning to consider bonus issue on January 28, 2010. The scrip opened at Rs193 it touched an intra-day high of Rs229 and a low of Rs191 and volumes of over RS191 shares on NSE.

Crude glides up

Crude inventories rise for last week in contrast to expectations for drop
Crude prices ended higher at Nymex on Wednesday, 06 January 2010. Prices rose following the cold weather and lower dollar. Price climbed up despite the energy department reporting a build up in crude inventories for last week.
On Wednesday, crude-oil futures for light sweet crude for February delivery closed at $83.18/barrel (higher by $1.41 or 1.7%). During intra day trading it fell to $80.85/barrel. Prices have now risen for ten consecutive sessions and have gained 14.7% in that stretch.
Crude ended FY 2009 higher by 78%, the highest yearly gain since 1999. It reached a high of $82 earlier in October 2009 and hit a low of $33.98 on 12 February 2009. Oil prices had reached a high of $147 on 11 July, 2008 but have dropped almost 43% since then.
A year before, crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex.
The EIA reported today that U.S. crude inventories rose by 1.3 million barrels in the week ended 1 January, 2010. The report also showed that gasoline inventories increased by 3.7 million barrels. Distillate stockpiles fell 300,000 barrels.
The EIA data also showed that net crude imports rose 4.1% to 8.323 million barrels a day. Refiners reduced their production last week, operating at 79.9% of their operable capacity, down from the previous week's 80.3%.
Market was anticipating that weekly inventory report by energy department will show crude and gasoline stockpiles to have dropped by 0.2 million and 0.5 million barrels last week respectively.
In the currency market on Wednesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell by almost 0.2% following mixed economic data.
The Institute for Supply Management reported in US on Wednesday, 06 January 2010 that the service sectors of the U.S. economy rebounded in December 2009. The ISM non-manufacturing index rose to 50.1% from 48.7% in November. Market was expecting the ISM non-manufacturing index to rise to 51%.
Among other energy products on Wednesday, February gasoline gained 1.16 cents, or 0.5%, to $2.1366 a gallon, and February heating oil added 0.4% to $2.2032 a gallon.
Also on Wednesday, February natural gas contract surged 37.2 cents, or 6.6%, to $6.009 per million British thermal units on speculations that cold weather will continue push up demand. It's now trading near a one-year high.
At the MCX, crude oil for January delivery closed higher by Rs 14 (0.4%) at Rs 3,783/barrel. Natural gas for January delivery closed higher by Rs 11.1 (4.2%) at Rs 274.7/mmbtu.

Bullion metals shine

Gold and silver rise for fourth straight day
Bullion metal prices shone on Wednesday, 06 January 2010. This was the fourth consecutive rise for precious metals. Chances of economic recovery depressed the dollar today.
Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa.
On Wednesday, gold for February delivery ended at $1,136.5 an ounce, higher by $17.8 (1.6%) an ounce on the New York Mercantile Exchange. During intra day trading, it rose to a high of $1,138.4.
Gold ended FY 2009 higher by 24%. In 2008, gold prices ended higher by 5.5%.
Last year, after hitting a low at $807.30 per ounce on 15 January 2009, gold futures rallied almost 51% to hit an all-time high at $1217.40 per ounce during early December of 2009 but fell from those levels at the end. Gold shed more than 7% in December.
On Wednesday, March Comex silver futures ended higher by 37.5 cents (2.4%) at $18.175 an ounce.
Silver futures had ended 2009 up 50%. Silver futures had hit a low at $10.42 on 15 January, 2009 and hit a high at $19.30 per ounce on 2 December, 2009. Like gold, silver also ended lower than its all time high level.
In the currency market on Wednesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell by almost 0.2% following mixed economic data.
The Institute for Supply Management reported in US on Wednesday, 06 January 2010 that the service sectors of the U.S. economy rebounded in December 2009. The ISM non-manufacturing index rose to 50.1% from 48.7% in November. Market was expecting the ISM non-manufacturing index to rise to 51%.
Readings above 50% in the diffusion index indicate that activity at more firms is expanding rather than contracting. The report showed that seven industries reported growth, while nine reported contraction.
At the MCX, gold prices for February delivery closed higher by Rs 32 (0.2%) at Rs 16,865 per ten grams. Prices rose to a high of Rs 16,906 per 10 grams and fell to a low of Rs 16,755 per 10 grams during the day's trading.
At the MCX, silver prices for March delivery closed Rs 175 (0.63%) higher at Rs 27,813/Kg. Prices opened at Rs 27,678/kg and rose to a high of Rs 27,900/Kg during the day's trading.

Market may open higher on positive Asian stocks; food inflation data eyed

The market may open higher on gains in most of Asian stocks. However, volatility may remain high as investors may look to cash in some profit after recent solid gains in indices. The government will today unveil data on some wholesale price indices for the year through 26 December 2009 viz. the food price index, the primary articles index and the fuel price index.
Commerce and industry minister Anand Sharma has reportedly urged against an immediate rollback of last year's stimulus measures, wading into a debate on the timing of the stimulus exit that has pitted ministries, policymakers and industry on different sides The finance ministry, trying to manage the highest fiscal deficit in 16 years and galloping food price inflation, is keen to do away with the stimulus measures on the grounds that these have helped shepherd India's economy safely out of the worst global economic crisis since the Great Depression.
Finance secretary Ashok Chawla, on Wednesday said continuing stimulus measures wasn't good for the economy, arguing that “too much of stimulus can be injurious to health” and clearly hinting that a rollback of the stimulus measures may be on the cards. However, Mr Sharma urged caution. Mr Sharma said while exports were on the recovery path, a ‘full and sustained' recovery would happen only when demand picks up across the US, Europe and Japan.
The Indian industry on Tuesday urged the government to continue with the fiscal stimulus at least for six months, as withdrawing them could choke faster recovery of the economy.
The government has reportedly decided to come to the aid of select export sectors that are yet to recover from the global meltdown by offering new incentives and expanding the scope of existing packages. Exports broke a 13-month fall in November 2009, growing 18% to touch $ 13.2 billion, but a commerce department study found that sectors such as engineering, handicraft, textile , pharmaceuticals and leather are still under the weather.
Meanwhile, business activity among Indian services companies expanded at its fastest pace in 15 months in December 2009 and helped create more jobs, but the outlook for 2010 is wary, a survey released on Wednesday showed. The HSBC Markit Business Activity Index, based on a survey of 400 firms, rose to 57.41 in December, its highest since September 2008, after slowing to 55.20 in November. The index has been above 50, separates expansion from contraction
Data last month showed that corporate advance tax payments for the October-December 2009 quarter shot up sharply, suggesting a higher profit growth in corporate sector in the third quarter (October-December) of the current fiscal. Corporate advance tax payments for the quarter were up 44% to Rs 48,300 crore against a 3.7% decline in April-June quarter and a 14.7% increase in July-September quarter. The company-wise break-up of advance tax collection suggests a broad-based recovery with automobiles, cement, metals and consumer goods, doing well.
In a move which could infuse more liquidity in the markets and make it more dynamic, the Securities and Exchange Board of India (Sebi) on Wednesday extended the tenure of contracts in securities lending and borrowing (SLB) to 12 months from one month. At the beginning, the tenure was of only seven days, which was later increased to 30 days.
Most Asian stocks rose on Thursday as the improved outlook for the global economy drove up commodity prices. The key benchmark indices in Hong Kong, Japan, South Korea and Indonesia rose by between 0.07% to 0.16%. But the key benchmark indices in China, Singapore and Taiwan fell by between 0.19% to 0.54%.
US markets closed flat on Thursday ahead of the crucial jobs report on Friday. The Dow Jones Industrial Average was up 1.66 points, or less than 0.1%, to 10,573.68. The broader S&P 500 Index was up 0.62, or 0.1%, to 1,137.14. The Nasdaq Composite Index was down 7.62 points, or 0.3%, to 2,301.09.
The Fed released minutes from its last meeting yesterday which indicated that some members think more stimulus measures for the economy may be desirable. They modestly raised their projection for GDP growth for the second half and into 2011 and said they see lower core inflation in the next few years.
In key economic data, ADP Employment Services data showing the private sector lost 84,000 jobs in December. That was fewer than the 145,000 jobs lost in November, but did exceed the 73,000 expected by economists. And the December ISM service index improved to 50.1 from 48.7 that was registered in November.
Closer home, the key benchmark ended slightly higher to hit 22-month closing highs on Wednesday, 6 January 2010 as firm Asian stocks and expectations of strong Q3 December 2009 results, underpinned sentiment. The BSE 30-share Sensex rose 14.89 points or 0.08% at 17,701.13, its highest closing since 28 February 2008 on that day.
As per provisional figures on NSE, foreign funds bought shares worth Rs 660.55 crore and domestic funds sold shares worth Rs 286.10 crore on Wednesday.

Post Market - Jan 6 2010

The Sensex for the fourth straight session settles on a positive note with marginal gains amid choppy session. Healthcare, realty and oil & gas stocks buck the trend, while IT, teck and metal traded lower. It opened with a gain of 33.23 points, at 17,719.47 on Wednesday on mixed global cues and later turned into red due to select buying and selling seen in frontliners. Further the index traded in a narrow range amid volatility on the back of directionless market. Finally, it closed on a flat note after touching a high of 17,790.33 and low of 17,636.71.
BSE Midcap and Smallcap index rose 0.68% at 6,945.94 and 0.44% at 8,601.91 respectively.
The Sensex ended the day with a gain of 14.89 points, or 0.08% at 17,701.13 after touching a high of 17,790.33 and a low of 17,636.71. The broad-based NSE Nifty climbed 3.90 points, or 0.07% at 5,281.80 after hitting a high of 5,310.85 and a low of 5,260.05.
Leaders in the 30-share index were Tata Power Company (4.61%), Grasim Industries (4.28%), Mahindra & Mahindra (2.39%), DLF (2.38%), Reliance Industries (1.80%), and Oil & Natural Gas Corporation (1.10%).
On the other hand, Maruti Suzuki India (3.50%), Hindalco Industries (2.45%), Reliance Infrastructure (2.30%), Tata Consultancy Services (2.28%), Wipro (1.65%), and Infosys Technologies (1.35%) were the major laggards in the Sensex pack.
Overall market breadth was mixed. Out of the total 2,970 stocks traded at BSE, 1,493 advanced, 1,402 declined while 75 remained unchanged.
Among the sectoral indices, BSE HC which went up 2.04%, Realty went up 1.43%, Oil & Gas went up 1.10%, Consumer Durables went up 0.68% and FMCG went up 0.53%, while BSE IT fell 1.41%, TECk fell 1.07%, Metal fell 0.98%, Auto lost 0.34% and Capital Goods lost 0.34%.
On global front, European stocks gained to a 15-month high as higher metals prices boosted the earnings outlook for basic-resource producers and automakers advanced. US index futures slipped.
Asian stocks rose, lifting the MSCI Asia Pacific Index for a fourth day, as higher US sales at Toyota Motor and Nintendo fueled optimism demand in the world`s biggest economy is recovering.
``The market is in uptrend and in the near term the market is expected to move in a range 5,150 to 5,350,`` said Avinash Gupta, assistant vice president Research Equity, Bonanza Portfolio.

DB Corp attracts 25% premium

Settles at Rs 265.90 on BSE
Shares of DB Corp settled at Rs 265.90 on the BSE, a premium of 25.40% over the initial public offer price of Rs 212.
The stock debuted at Rs 250, a 17.90% premium over the initial public offer (IPO) price. The stock hit a high of Rs 274.60 and a low of Rs 235.50. The counter clocked a volume 1.99 crore shares on the BSE.
The current price of Rs 265.90 discounts the company's half-year ended September 2009 annualised consolidated EPS of Rs 10.50 by a PE multiple of 25.32.
DB Corp had fixed the issue price at Rs 212 per share, at the top end of the Rs 185-212 per share price band. Retail investors were given a discount of Rs 2 per equity share over the issue price. The initial public offer (IPO) of DB Corp, which remained open between 11 and 15 December 2009, was subscribed 39.54 times. The IPO received bids for 58.92 crore shares as against 1.49 crore shares on offer.
The qualified institutional buyers (QIBs) category was oversubscribed by a staggering 68.52 times. The non-institutional investors category was oversubscribed 26.17 times and the retail investors category was oversubscribed 3.42 times.
DB Corp came out with an IPO of 1.81 crore shares with the face value Rs 10 each. The firm had placed 32.71 lakh equity shares to nine anchor investors. The anchor investors, FID Funds (Mauritius), FIL Trustee Company, Nomura Funds Ireland- India Equity Funds, ICICI Prudential Life Insurance Company, IDFC Classic Equity Fund, Government of Singapore, Reliance Capital Trustee Company, India Capital Fund, BNP Paribas Arbitrage, all committed at the upper end of the price band of Rs 212
DB Corp is in the business of print media, and publishes 7 newspapers, 48 newspaper editions and 128 sub-editions in three languages (Hindi, Gujarati and English) across 11 states. A chunk of the IPO proceeds will be used to consolidate the company's position in existing markets by upgrading infrastructure. It will also enter some new markets by setting up publishing units.
DB Corp also plans to utilise Rs 110 crore to repay debt and Rs 20 crore to lower working capital loans. The company is focusing on increasing its reach in Tier II and III cities where consumption is growing at a faster pace and is higher than Tier I cities.
The company's consolidated net profit declined 37.14% to Rs 47.70 crore on 11.56% rise in consolidated net sales to Rs 948.99 crore in the year ended March 2009 over the year ended March 2008.

Asian markets edge higher

Nikkei, NZX 50 inch higher while Shanghai, Seoul falls
Stock markets in Asian region extended their winning streak on Wednesday, 6 January 2010, as investors started selective buying as US sales reports boosted expectations demand in the world's biggest economy is recovering.
On Wall Street, stocks finished mixed but flat Tuesday, bouncing back from session lows after a report said pending home sales tumbled in November. The Dow Jones Industrial Average slipped 12 points, or 0.2%, to 10,572. The S&P 500 added 4 points, or 0.3%, at 1137, as the Nasdaq gained less than a point at 2309.
On the economic front there was mixed batch of economic releases. November factory orders rose 1.1% while pending home sales fell 16%. The first decline in nine months came as buyers rushed to close deals before the initial expiration date of a government tax-credit program. Year over year, pending home sales have risen 15.5%.
In the commodity market, crude oil traded near a 14-month high in New York as an industry report showed a decline in U.S. crude stockpiles and cold weather bolstered the outlook for fuel demand in the world’s largest energy-consuming nation.
Crude oil for February delivery was at $81.59 a barrel, down 18 cents, in electronic trading on the New York Mercantile Exchange at 3:40 p.m. Singapore time. Yesterday, the contract rose 26 cents to $81.77, the highest settlement since 9 October 2008.
Brent crude oil for February settlement traded at $80.42 a barrel, down 17 cents, on the London-based ICE Futures Europe exchange at 3:40 p.m. in Singapore. Yesterday, the contract rose 47 cents, or 0.6%, to end the session at $80.59.
Gold advanced in London as last month’s decline, the steepest in more than a year, spurred demand from investors. Platinum rose to the highest price since August 2008. Gold for immediate delivery rose as much as 0.7% to $1,126.13 an ounce and traded at $1,126.05 by 8:49 a.m. in London. Gold futures for delivery in February on the Comex division of the New York Mercantile Exchange gained 0.7% to $1,126.10.
In the currency market, the US dollar recovered overnight as rally in crude oil stalled ahead of $82 while gold retreats ahead of $1130 level. The greenback is regathering some strength in early European session as gold’s recovery lost steam and is back pressing $1120 level. The yen weakened against major currencies amid reports Japanese Finance Minister Hirohisa Fujii wants to step down due to ill health.
The Japanese yen softened against major currencies on speculation gains in Asian stocks will spur demand for riskier investments. Japan’s currency was quoted at 91.98 per US dollar from Tuesday’s quote at Y91.54 per dollar in New York.
The Hong Kong dollar was trading at HK$ 7.7554 against the dollar. Actually the Hong Kong dollar is pegged at HK$ 7.8 to the U.S. dollar but can trade between HK$ 7.75 and HK$7.85 to the U.S. dollar.
In Sydney trade, the Australian dollar was slightly lower against major counterparts on Wednesday’s after a muted reaction to a government report showed home-building approvals rose in November at a faster pace than economists estimated and the release of disappointing US home sales data overnight. The Australian dollar was quoted at 91.20 US cents from yesterday’s quote of 91.43 US cents.
In Wellington trade, the New Zealand dollar traded overnight in a range between US73.20c and US73.90c against the greenback, which was pressured by a steep drop in United States pending home sales. Around 8am the kiwi was buying US73.36c, little changed from its level at 5pm yesterday.
The South Korean won finished the day at 1136.4 won up from yesterday’s 1140.5 won.
The Taiwan dollar strengthened further against the greenback. The Taiwan dollar was trading higher against the US dollar at NT$ 31.8270, 0.0330 up from Tuesday’s close of NT$31.8600.
In equities, Asian stocks ended mostly higher, with Japanese shares advancing for a third straight session as exporters were boosted by weakness in the yen
In Japan, the share market continued rally for third consecutive day, with benchmark Nikkei Average hugs 15-month high in wobbly trade, thanks to positive commodities prices and softer yen, although overall gains were limited due a disappointing showing in US home sales.
At the closing bell, the Nikkei 225 Stock Average index was at 10,731.45, spurted 49.62 points or 0.46% from Tuesday’s close, while the broader Topix of all First Section issues on the Tokyo Stock Exchange added 11.56 points, or 1.26%, to 931.13.
In Mainland China, the China stocks gave up morning gains to finish the session lower, with falls in financials on worries about declining mortgages demand as government plan to crackdown on property speculation. Developers were under pressure on persistent worries the China will step up more measures to curb property speculation and due to inflationary pressure.
At the closing bell, the Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, grew 0.85%, to 3,282.18, while the Shenzhen Component Index on the smaller Shenzhen Stock Exchange slid 0.1% to 13,505.18. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, lost 0.63%, to 3,541.73.
On the economic front, a monthly survey released indicated improvement in China's services sector, with December business activity rising at the fastest pace in three months. HSBC said its China Services Purchasing Manager's Index rose to 57.2 for the month, up from 57.1 in November 2009.
In Australia, the shares market gave back morning gains to finish the session reasonably flat. The initial sharp gains which briefly took the key All Ordinaries to a 15-month intraday high were erased by profit taking in retailers, properties, and financials stocks. Investors stepped back and reassess their position after a mixed reaction to US data. At the closing bell, the benchmark S&P/ASX200 index slipped 2.9 points, or 0.06%, to 4,921.40, meanwhile the broader All Ordinaries added 7.30 points, or 0.15%, to 4,946.80.
On the economic front, the Australian Bureau of Statistics said Australian building approvals rose 5.9% to 13,724 units in November, seasonally adjusted, from an upwardly revised 12,962 units in October. In the year to November, domestic building approvals were up 33.3%. But Australia’s services sector failed to register growth in December; the Australian Industry Group says that is a reflection of the three consecutive official interest rate rises at the end of last year.
In New Zealand, benchmark index continued its upward movement although the impetus was milder than it’s opening on the first trading day of the year 2010 yesterday. New Zealand’s benchmark index gained the highest in over a month by more than 1% on Tuesday, beginning the New Year on a highly optimistic note. The benchmark NZX-50 index inched up 0.10% or 3.39 points to 3271.57. The NZX 15 gained 0.09% or 5.41 points to close at 5947.50.
In South Korea, stocks rose to a three-month high as foreign investors scooped up tech and auto shares, shrugging off the local currency's ascent. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 14.7 points, or 0.87%, to 1,705.32.
In Singapore, sign of global economic recovery and positive offshore lead buoyed up Singapore share market 0.4% higher at the end of trading, with benchmark Strait Times registered gains for third day in row. At the closing bell, the blue chip Straits Times Index was at 2,930.49 grew 10.21 points or 0.35%.
In Taiwan, stock market in Taiwan extended its winning streak on Wednesday, 6 January 2010, crawling towards the twenty month high, led by LCD maker and other DRAM issues, as investors bought into the companies with brighter earnings outlook for 2010. The benchmark Taiex share index neared a new twenty month high, by ending the day higher by 116.22 points or 1.42% at 8327.62 - the highest closing since 11 June 2008 when market finished the day at 8345.59.
On the economic front, Taiwan’s consumer prices fell for an eleventh consecutive month in December on cheaper food, electronics and clothing prices. According to the data released by the Directorate General of Budget, Accounting and Statistics, the December consumer price index fell 0.21% from a year earlier, compared with a seasonally adjusted 1.61% in November. On a monthly basis, the December CPI fell 0.45% from November on lower fruit and vegetable costs and also reductions in consumer electronics prices, it said.
In Philippines, stock market closed marginally higher on the back positive signal from the central bank, which said that it would possibly keep its rates unchanged until later this year, which helped to boost investors’ sentiment. Despite increasing domestic prices, the average annual inflation rate of 3.2% for 2009 was still within the central bank’s official target of 2.5% to 4.5%. However, losses in mining & oil index, which tumbled more than 3%, limited the gains of the composite index. At the concluding bell, the benchmark index PSEi ascended 0.37% or 11.47 points to 3,039.93, while the All Shares index escalated 0.31% or 6.09 points to 1,915.31.
In India, the key benchmark ended slightly higher after moving in narrow ranges during the day. Firm Asian stocks and expectations of strong Q3 December 2009 results, supported domestic bourses. European stocks were weak. IT and metal stocks fell. But FMCG, healthcare and realty stocks rose. The market breadth was marginally positive.
The BSE 30-share Sensex was up 14.89 points or 0.08% at 17,701.13. The Sensex gained 104.09 points at the day's high of 17,790.33 at the onset of the trading session, its highest since 28 February 2008. The S&P CNX Nifty was up 3.90 points or 0.07% at 5281.80. It hit a high of 5310.85 in early trade, its highest since 27 February 2008.
Elsewhere, Malaysia’s Kula Lumpur Composite index finished slightly higher at 1293.17 while stock markets in Indonesia’s Jakarta Composite index fell 1.98 points ending the day lower at 2603.30.
In other regional market, stocks in Europe couldn't hold early gains on Wednesday as the market continued to drift after the year-opening rally. By region, the U.K. FTSE 100 slipped 0.3% or 15.80 points to 5,507, the German DAX fell 0.4% or 21.73 points to 6,010 and the French CAC 40 fell 0.2% or 8.30 points to 4,005.

Infinite Computer sets IPO price band at Rs 155-Rs 165

Issue to remain open between 11 to 13 January 2009
Infinite Computer Solutions (India)'s initial public offer (IPO) of 1.15 crore equity shares opens for subscription on 11 January 2010. The IPO closes on 13 January 2010.
The company will offer shares through a 100% book-building process. The price band for the IPO has been set at Rs 155 to Rs 165. At the top end of the price band, the company will raise about Rs 190 crore.
The IPO includes fresh issue of 57.,33 lakh equity shares and an offer to sell 57.69 lakh equity shares by Whiterock Investments (Mauritius).
The company intends to utilize the IPO proceeds for meeting capital expenditure, making acquisitions and repaying debt.
Infinite Computer Solutions (India) is mainly into software application development and maintenance but has diversified into other areas such as remote infrastructure management and research & development services.

Turnover declines

SBI January 2010 futures at discount
Nifty January 2010 futures were at 5,291.40, at a premium of 9.60 points as compared to the spot closing of 5,281.80. Turnover in NSE's futures & options (F&O) segment was Rs 52,701.84 crore, lower than Rs 59,599.01 crore on Tuesday, 5 January 2010.
State Bank of India (SBI) January 2010 futures were at a slight discount at 2299 compared to the spot closing of 2300.
Tata Steel January 2010 futures were near spot price at 642.55 compared to the spot closing of 643.20.
Unitech January 2010 futures were near spot price at 85.10 compared to the spot closing of 84.70.
In the cash market, the S&P CNX Nifty rose 3.90 points or 0.07% at 5,281.80.

BSE Bulk Deals to Watch - Jan 6 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
6/1/2010 532727 Adhunik Metal MERRILL LYNCH CAPITAL MARKET ESPANA S.A. B 678505 109.00
6/1/2010 504629 Anil Special ASHA JHAVERILAL DEDHIA S 103271 15.36
6/1/2010 531519 Ankush Finstock KRUNAL SAIDAS VANJARE S 36566 3.40
6/1/2010 532981 Anus Lab ALPESH JAYANTILAL PANDIT B 1399813 8.75
6/1/2010 532981 Anus Lab ALPESH JAYANTILAL PANDIT S 1399813 8.57
6/1/2010 531881 Arvind Chem NILESH EKNATH BHOIR B 116620 24.23
6/1/2010 531881 Arvind Chem NILESH EKNATH BHOIR S 113573 23.88
6/1/2010 512109 Aviva Inds ALPESH JAYANTILAL PANDIT B 63178 26.75
6/1/2010 512109 Aviva Inds AJAY PRABHULAL SHAH S 17000 26.75
6/1/2010 512109 Aviva Inds KANHAIYA LAL SALAWAT S 20000 26.75
6/1/2010 512109 Aviva Inds KESHARLAL MAHAVEER PRASAD RUNGTA S 8700 26.75
6/1/2010 512109 Aviva Inds SUJATA PUNEETKUMAR RUNGTA S 10600 26.75
6/1/2010 505506 Axon Infotech AMIT SARAFF B 4000 19.08
6/1/2010 505506 Axon Infotech SANJAY P DAVDA S 4100 19.15
6/1/2010 531733 Bafna Spinning UMA VARDICHAND BAFNA S 239000 2.60
6/1/2010 531591 Bampsl Sec KAUSHALYA GARG B 850000 0.69
6/1/2010 531591 Bampsl Sec VIJAY KUMAR GOYAL S 600000 0.69
6/1/2010 590076 Camson Bio THE INDIAMAN FUND MAURITIUS LIMITED B 150000 105.97
6/1/2010 590076 Camson Bio SANATAN HERBAL AND NATURALS LIMITED S 150000 105.83
6/1/2010 512093 Cranes Soft TRANSGLOBAL SECURITIES LTD. B 1881331 30.42
6/1/2010 512093 Cranes Soft TRANSGLOBAL SECURITIES LTD. S 1881331 30.46
6/1/2010 512093 Cranes Soft DEUTSCHE SECURITIES MAURITIUS LIMITED S 1010000 30.18
6/1/2010 512093 Cranes Soft MACQUARIE BANK LIMITED S 1067974 30.23
6/1/2010 532858 Decolight Cerm D. B. SECURITIES. PVT. LTD. S 191864 10.31
6/1/2010 517973 DMC Intl ATUL MITTAL B 37000 28.35
6/1/2010 517973 DMC Intl BHARAT GUPTA B 73245 28.26
6/1/2010 517973 DMC Intl CENTENARY SOFTWARE PVT LTD B 133971 28.26
6/1/2010 517973 DMC Intl KAPIL GUPTA B 39577 28.35
6/1/2010 517973 DMC Intl ANJANA GUPTA S 52800 28.35
6/1/2010 517973 DMC Intl ATUL MITTAL S 53300 28.35
6/1/2010 517973 DMC Intl CENTENARY SOFTWARE PVT LTD S 136704 28.35
6/1/2010 526473 Elegant Flori PRATIMA BAPI ROY S 30000 5.36
6/1/2010 517477 Elnet Tech VALLA KATI B 22641 72.76
6/1/2010 532984 Enso Secutrack ASHISH BEGWANI B 165000 24.29
6/1/2010 532984 Enso Secutrack GOODNESS TRADING PRIVATE LIMITED S 75000 24.40
6/1/2010 532984 Enso Secutrack ALANKRIT RETAILERS PRIVATE LIMITED S 56500 24.20
6/1/2010 533149 Essar Sec HITESH RAMJI JAVERI S 219044 103.22
6/1/2010 530337 Exelon Infra SWEETY PVT LTD B 40000 53.30
6/1/2010 590094 FARMAX RET K SIVANANDA BABU B 58000 172.39
6/1/2010 590094 FARMAX RET WINNERS SALES PRIVATE LIMITED S 80000 171.98
6/1/2010 532022 Filatex Fash ANGEL INFIN PRIVATE LIMITED B 32500 14.55
6/1/2010 532022 Filatex Fash PRITHVIRAJ S KOTHARI B 99400 14.66
6/1/2010 504697 Galada Power KIRAN GARG B 41710 10.84
6/1/2010 533048 GI ENGINERG SHRI PARASRAMHOLDING PVT LTD S 55100 22.50
6/1/2010 532715 Gitanjali Gems MERRILL LYNCH CAPITAL MARKETS ESPANA SA SV B 2395824 124.75
6/1/2010 532715 Gitanjali Gems SANSAR CAPITAL (MAURITIUS) LTD S 2395824 124.75
6/1/2010 511682 IFL Promoters CENTENARY SOFTWARE PVT LTD B 18754 9.80
6/1/2010 523844 Invicta Meditek CHEMBRA ECONOMIC CONSULTANCY SERVICES LIMITED S 39493 8.32
6/1/2010 523467 Jai Mata Glass GROWMORE PROPERTIES PVT LTD S 168019 2.67
6/1/2010 532283 Kaashyap Tech AYODHYAPATI INVESTMENT PVT LTD B 2860268 0.85
6/1/2010 532283 Kaashyap Tech CHAMPAKLAL JETHALAL SHAH B 5000000 0.85
6/1/2010 532283 Kaashyap Tech AYODHYAPATI INVESTMENT PVT LTD S 2250000 0.86
6/1/2010 532283 Kaashyap Tech TAIB SEC MAURITIUS LTD S 10000000 0.85
6/1/2010 530255 KAY Power KAUSHALYA GARG B 75120 12.81
6/1/2010 530255 KAY Power KAUSHALYA GARG S 100000 13.08
6/1/2010 530255 KAY Power VISHAL PIPES LTD S 66510 12.06
6/1/2010 530357 KBS Capital SWETA MAHESH SHAH B 31581 40.39
6/1/2010 530357 KBS Capital SWETA MAHESH SHAH S 31581 43.40
6/1/2010 531731 Kuvam Intl Bhavesh Mulji Katira B 25000 50.42
6/1/2010 531731 Kuvam Intl PARVEEN KUMAR GOEL S 16600 50.37
6/1/2010 519570 Lakshmi Over COPTHALL MAURITIUS INVESTMENT LIMITED B 1475274 162.50
6/1/2010 519570 Lakshmi Over SANSAR SPECIAL OPPORTUNITIES MAURITIUS LTD S 1475274 162.50
6/1/2010 531528 Maars Software INVESTMENTS SHIVAM S 1400000 3.00
6/1/2010 531515 Mahan Inds SHASHI SINGHVI B 120000 32.55
6/1/2010 531515 Mahan Inds YOGENDRA KUMAR GUPTA S 200000 32.55
6/1/2010 531515 Mahan Inds JASMINS BAJORIYA S 45700 32.55
6/1/2010 516007 Mangalam Timb HITESH SHASHIKANT JHAVERI B 184984 37.95
6/1/2010 516007 Mangalam Timb HITESH SHASHIKANT JHAVERI S 172084 37.92
6/1/2010 532950 Manjushree Techno HITESH SHASHIKANT JHAVERI B 92326 53.35
6/1/2010 532950 Manjushree Techno SECURITIES VSL S 75000 53.80
6/1/2010 590111 MASTER P T N V AMBICA RAMASUDARSAN S 32000 67.60
6/1/2010 590111 MASTER VENKATA BADRINARAYAN AMMA GOLLAPUDI S 27000 64.50
6/1/2010 533080 MOLDTK PLA KUMAR GOEL ANIL S 45000 46.11
6/1/2010 532952 Nahar Capital NAHAR SPINNING MILLS LTD. B 100000 67.90
6/1/2010 532952 Nahar Capital SHIVALIK SECURITIES LTD S 100000 67.90
6/1/2010 531834 Natura Hue Chem CHETAN DOGRA B 31000 35.38
6/1/2010 519560 Neha Intl ADITYA AGGARWAL HUF B 70090 70.93
6/1/2010 519560 Neha Intl Naman Securities & Finance Pvt. Ltd. S 75002 71.26
6/1/2010 523820 Neo Corp SWIFT TIE UP PVT LTD B 46909 70.59
6/1/2010 532045 Nexxoft Info C GEETHA B 50001 23.05
6/1/2010 532045 Nexxoft Info Y RAVI PRASAD S 50000 23.05
6/1/2010 590090 Octant Inter INDIUM HOME CARE PRIVATE LTD S 245226 13.61
6/1/2010 590090 Octant Inter HANDFUL INVESTRADE PVT LTD S 158045 13.10
6/1/2010 531496 Omkar Overseas PINABEN PRAKASHKUMAR SHETH B 40507 48.23
6/1/2010 511702 Parsharti Inv KRUPASANJAY SONI B 29663 36.69
6/1/2010 511702 Parsharti Inv BHAVESH SHANTILAL TRIVEDI B 45673 35.69
6/1/2010 511702 Parsharti Inv SANJAY JETHALAL SONI B 25393 37.00
6/1/2010 511702 Parsharti Inv RAJU KUMAR MAHIPAL HUF B 18000 36.00
6/1/2010 511702 Parsharti Inv KRUPASANJAY SONI S 38663 36.10
6/1/2010 511702 Parsharti Inv BHAVESH SHANTILAL TRIVEDI S 31000 36.02
6/1/2010 531855 Prabhav Inds SHREENATHJI FINSTOCK PVT LTD S 75000 50.50
6/1/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 66745 33.16
6/1/2010 502587 Rama Pulp MUMBAI STK. BROKING PVT. LTD. B 50000 33.10
6/1/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA S 101554 33.19
6/1/2010 590077 Ranklin Sol R O BART B 27662 52.01
6/1/2010 511585 Regency Trust RICHA AGARWAL B 21100 26.66
6/1/2010 530271 Rich Capital SCOPE VYAPAR PRIVATE LIMITED B 40046 89.00
6/1/2010 530271 Rich Capital JHUNJHUNWALA VANASPATI LTD S 40000 89.00
6/1/2010 533083 RISHABHDEV MAHESH MEETAL B 315028 17.54
6/1/2010 533083 RISHABHDEV ARIHANT SEC & INVESTMENT B 299884 17.70
6/1/2010 533083 RISHABHDEV SARSWATI VINCOM LTD B 180380 17.50
6/1/2010 533083 RISHABHDEV MAHESH MEETAL S 314958 17.45
6/1/2010 533083 RISHABHDEV KII LTD S 700000 17.56
6/1/2010 533083 RISHABHDEV ARIHANT SEC & INVESTMENT S 299884 17.61
6/1/2010 533083 RISHABHDEV SARSWATI VINCOM LTD S 115283 17.28
6/1/2010 507315 Sakthi Sugars HITESH SHASHIKANT JHAVERI B 211801 104.85
6/1/2010 507315 Sakthi Sugars HITESH SHASHIKANT JHAVERI S 209646 104.82
6/1/2010 506172 Sampada Chem SURENDRA SOMANI S 30000 59.73
6/1/2010 512499 Shalimar Prod ANANT PRAKASH KABRA S 200200 1.60
6/1/2010 512289 Shirpur Gold C S ORBIT INVESTMENTS LTD S 106101 178.20
6/1/2010 526479 SKY Inds V R M SHARE BROKING PRIVATE LIMITED S 25000 85.02
6/1/2010 531841 Subuthi Finance KALPANA MADHANI SECURITIES PVT. LTD. S 40000 28.50
6/1/2010 531841 Subuthi Finance BALA VENCKAT KUTTI S 80000 28.50
6/1/2010 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. B 76262 353.05
6/1/2010 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. S 76262 353.36
6/1/2010 526139 Transgene Bio TAMMINEEDI PREETI B 90000 71.45
6/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR B 23018 377.87
6/1/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR S 29370 377.11
6/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR S 26393 376.86
6/1/2010 514470 Winsome Tex PREETI SARAF B 2800000 4.43
6/1/2010 514470 Winsome Tex KAILASHPATI VINIMAY PRIVATE LIMITED S 2800000 4.43
* B - Buy, S - Sell

NSE Bulk Deals to Watch - Jan 6 2010

r Pro Ltd,VIJIT SHARES AND COMMODITIES PVT.LTD.,BUY,127201,37.98,-
06-JAN-2010,NAHARCAP,Nahar Capital and Financi,NAHAR SPINNING MILLS LTD,BUY,170000,68.99,-
06-JAN-2010,SASKEN,Sasken Commu Techno Ltd,MORGAN STANLEY MAURITIUS COMPANY LTD,BUY,180900,187.43,-
06-JAN-2010,SELMCL,SEL Manufacturing Company,NIKON FINLEASE PVT. LTD,BUY,112373,87.18,-
06-JAN-2010,SICAGEN,Sicagen India Limited,SAL REAL ESTATES (P) LTD,BUY,216301,16.80,-
06-JAN-2010,SIMBHSUGAR,Simbhaoli Sugars Limited,SUVRIDHI CAPITAL MARKETS LIMITED,BUY,117468,83.65,-
06-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,87895,353.08,-
06-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,TECHNO BROKING & FINANCIAL SERVICES PVT LTD,BUY,4000,350.56,-
06-JAN-2010,TIPSINDLTD,Tips Industries Limited,SHIVIKA COMMUNICATION PRIVATE LIMITED,BUY,117035,60.30,-
06-JAN-2010,WINDSOR,Windsor Machines Limited,KHANDELWAL BROS. [PROP. DILIP KUMAR KHANDELWAL],BUY,73199,32.84,-
06-JAN-2010,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,1153080,20.35,-
06-JAN-2010,CRANESSOFT,Cranes Software Internati,DEUTSCHE SECURITIES MAURITIUS LIMITED,SELL,1090000,30.12,-
06-JAN-2010,CRANESSOFT,Cranes Software Internati,MACQUARIE BANK LIMITED,SELL,1032026,30.33,-
06-JAN-2010,CRANESSOFT,Cranes Software Internati,SWISS FINANCE CORPORATION (MAURITIUS) LIMITED,SELL,1500000,29.67,-
06-JAN-2010,CRANESSOFT,Cranes Software Internati,TRANSGLOBAL SECURITIES LTD.,SELL,2183493,30.35,-
06-JAN-2010,DBCORP,D.B.Corp Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,1032546,263.37,-
06-JAN-2010,DBCORP,D.B.Corp Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,SELL,935388,262.33,-
06-JAN-2010,FCSSOFT,FCS Software Solutions Li,PATEL PRAKASHBHAI NARSINHBHAI,SELL,1618212,14.11,-
06-JAN-2010,FCSSOFT,FCS Software Solutions Li,PUMARTH CREDIT & CAPITAL LTD.,SELL,3150000,14.00,-
06-JAN-2010,FCSSOFT,FCS Software Solutions Li,REGENT FINANCE CORPORATION PVT. LTD.,SELL,1525598,14.61,-
06-JAN-2010,HILTON,Hilton Metal Forging Limi,VAIBHAV DOSHI,SELL,50000,27.10,-
06-JAN-2010,HILTON,Hilton Metal Forging Limi,VIJIT SHARES AND COMMODITIES PVT.LTD.,SELL,171636,27.07,-
06-JAN-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,8420322,23.33,-
06-JAN-2010,KAUSHALYA,Kaushalya Infrastructure,ANGEL INFIN PRIVATE LIMITED,SELL,125971,29.49,-
06-JAN-2010,KLGSYSTEL,KLG Systel Ltd.,PUSHAP LATA GOEL,SELL,103000,215.42,-
06-JAN-2010,MANGTIMBER,Mangalam Timber Pro Ltd,MAHALAXMI BROKRAGE INDIA PRIVATE LIMITED,SELL,99501,36.45,-
06-JAN-2010,MANGTIMBER,Mangalam Timber Pro Ltd,RAHUL DOSHI,SELL,81085,37.98,-
06-JAN-2010,MANGTIMBER,Mangalam Timber Pro Ltd,VIJIT SHARES AND COMMODITIES PVT.LTD.,SELL,118201,37.87,-
06-JAN-2010,NAHARCAP,Nahar Capital and Financi,SHIVALIK SEC. LTD,SELL,170000,68.89,-
06-JAN-2010,SELMCL,SEL Manufacturing Company,NIKON FINLEASE PVT. LTD,SELL,112373,87.19,-
06-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,87892,353.16,-
06-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,TECHNO BROKING & FINANCIAL SERVICES PVT LTD,SELL,70314,349.89,-
06-JAN-2010,TIPSINDLTD,Tips Industries Limited,SHIVIKA COMMUNICATION PRIVATE LIMITED,SELL,117035,60.57,-
06-JAN-2010,WINDSOR,Windsor Machines Limited,KHANDELWAL BROS. [PROP. DILIP KUMAR KHANDELWAL],SELL,30000,33.12,-
06-JAN-2010,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,1153080,20.37,-

Sensex closes marginally higher

Today's major news
Mahindra & Mahindra plans Scorpio’s successor; the stock surged 2.39%
Jaihind Projects bags orders worth Rs25 crore; the stock closed 0.54% higher
Larsen & Toubro wins orders worth Rs2,325 crore; the stock closed 1.04% lower
Raj Television ventured into movie distribution platform; the stock rose 1.20%
KEI in pact with Brugg Kabel AG, Switzerland; the stock jumped 4.03%.
Click here for more stories
Events Update
DB Corp lists on BSE at Rs250, 18% premium on the issue price. The day’s low was Rs235.50 and the day’s high was Rs274.60. The stock closed at Rs265.90, up by 25.42% with volumes of 19,917,826 shares on the BSE.
Post-market summary
Global signals
European stocks opened lower, as energy stocks fell on the back of decline in oil prices. FTSE 100 was trading 19 points lower at 5503 at the time of writing this report.
Among major Asian indices, all the indices closed higher except Jakarta Composite that fell marginally. SGX Nifty closed 13 points higher.
In the US, the investor would be eagerly waiting for data related to Challenger job cuts for December, ADP Employment Report for December, ISM Service data for December and Crude inventories as on December 31, 2009.
Indian indices
Sensex ended the day with marginal gains of 15 points or 0.08%. Owing to mixed performance by global indices, Sensex that opened 33 points higher soon turned negative and swung between red and green throughout the day. The day’s low was 17637 and the high was 17790. At finishing line, Sensex closed marginally higher, by 15 points, at 17686. Nifty ended the session at 5282, up by 4 points.
Market sentiment
The market breadth was almost neutral. Of the 2,970 stocks traded on the BSE, 1,495 stocks advanced, whereas 1,400 stocks declined. Seventy five stocks closed unchanged.
Sectoral & stock screening
Health care and realty stocks witnessed some investor interest with the BSE HC and BSE Realty up by 2.04% and 1.43% respectively. Information technology stocks have been under pressure and the sector index, BSE IT, was down by 1.41% for the day.
On stocks’ front, Adani Enterprises was the star stock of the day posting gains of 10.40% followed by Financial Technologies that surged by 6.45% and Indiabulls Financial Services that rose by 5.66%. Among losers, National Aluminium slid the most by 5.91%, followed by Maruti Suzuki India that fell by 3.50% and Apollo Hospitals that shed 3.44%.
Viewing volumes
Ispat Industries was the most actively traded share with over 1.25 crore shares changing hands on the BSE followed by wind turbine maker Suzlon Energy (0.90 crore shares), industrial finance company IFCI (0.83 crore shares), realty company Unitech (0.74 crore shares), and ADAG group company Reliance Natural Resources (0.70 crore shares).

Sensex, Nifty attain 22-month closing highs

The key benchmark ended slightly higher to hit 22-month closing highs as firm Asian stocks and expectations of strong Q3 December 2009 results, underpinned sentiment. The BSE 30-share Sensex rose 14.89 points or 0.08%, up close to 65 points from the day's low and off close to 90 points from the day's high. European stocks were weak. IT and metal stocks fell. But FMCG, healthcare and realty stocks rose. The market breadth was marginally positive.
The market came off higher level soon after an initial surge that pushed the key benchmark indices to their highest level in 22 month. The market soon came off the lows. However, the intraday recovery proved short lived. The Sensex slipped into the red morning trade. The barometer index regained positive zone only to slip into the red again. The market once again regained positive zone in early afternoon trade after moving between the positive and negative terrain. The market once again slipped into the red in mid-afternoon trade. The market regained positive zone in late trade.
Business activity among Indian services companies expanded at its fastest pace in 15 months in December 2009 and helped create more jobs, but the outlook for 2010 is wary, a survey released on Wednesday showed. The HSBC Markit Business Activity Index, based on a survey of 400 firms, rose to 57.41 in December, its highest since September 2008, after slowing to 55.20 in November. The index has been above 50, separates expansion from contraction
However, the business expectations sub-index slowed for a second straight month to 65.56 in December, to its lowest level in 10 months. It stood at 71.58 in November. The degree of positive sentiment fell sharply since November, as a greater proportion of companies reported that they expect activity in 12 months' time to be broadly similar to current levels, HSBC Markit said in the report.
Meanwhile, the Indian industry on Tuesday urged the government to continue with the fiscal stimulus at least for six months, as withdrawing them could choke faster recovery of the economy. In the customary pre-budget meeting with Finance Minister Pranab Mukherjee, industry representatives also demanded tax reforms through introduction of a Goods and Services Tax and reduction of the fiscal deficit. Leading industry bodies also wanted the easy monetary stance to continue. The Reserve Bank has already turned hawkish after food inflation neared 20% by end of December 2009
An adjustment in policy interest rates is not warranted for now but liquidity tightening may be needed, the prime minister's economic adviser C. Rangarajan said recently. Kaushik Basu, chief economic adviser to the finance ministry, also said on Monday that no monetary policy tightening measures are expected now. Rangarajan said the inflation rate could rise above 6% by the end of the fiscal year in March. The central bank's inflation projection stands at 6.5% with an upward bias for end-March, while some private economists expect it to reach about 8%. Some policymakers have said recently that food prices may drop in coming months and ease the pressure on the central bank to hike rates.
The latest data showed that the rate of growth in manufacturing rose for the first time in three months in December 2009, with activity reaching its highest since May 2009 on sharp rises in new work and output. The HSBC Markit Purchasing Managers' Index (PMI), based on a survey of 500 Indian companies, rose to 55.6 in December from 53.0 in November. The reading was the strongest since May's 55.7, which was the strongest in 2009.
Data last month showed that corporate advance tax payments for the October-December 2009 quarter shot up sharply, suggesting a higher profit growth in corporate sector in the third quarter (October-December) of the current fiscal. Corporate advance tax payments for the quarter were up 44% to Rs 48,300 crore against a 3.7% decline in April-June quarter and a 14.7% increase in July-September quarter. The company-wise break-up of advance tax collection suggests a broad-based recovery with automobiles, cement, metals and consumer goods, doing well.
Corporate tax collections increased 44% in December 2009, suggesting a smart recovery in corporate performance and increasing the possibility of the government exceeding the overall direct tax collections target for the entire year and making up for the shortfall in indirect tax collections. Higher corporate tax collections have boosted overall direct tax collections that rose by 8.5% during April-December 2009 to Rs 2.5 lakh crore.
European shares turned negative after hitting a new 15-month peak earlier in the day, with investors waiting for more macro-economic data later in the session for clearer market direction. The key benchmark indices in France and UK were down by between 0.03% to 0.23%. Germany's DAX rose 0.09%.
Private-sector activity in the 16-nation euro zone accelerated in December 2009, pushing the euro-zone composite purchasing managers index to a 26-month high of 54.2, Markit Economics reported Tuesday. The reading confirmed an earlier estimate and marked a rise from 53.7 in November. A reading of more than 50 means a majority of managers reported a rise in activity, while a reading of less than 50 signals contraction.
Most Asian stocks rose on Wednesday as Toyota Motor Corp.'s and Nintendo Co.'s US sales reports boosted expectations demand in the world's biggest economy is recovering. The key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan rose by between 0.35% to 1.42%. But, key benchmark indices in China and Indonesia fell by between 0.08% to 0.85%.
A monthly survey released Wednesday indicated improvement in China's services sector, with December business activity rising at the fastest pace in three months. HSBC said its China Services Purchasing Manager's Index rose to 57.2 for the month, up from 57.1 in November 2009.
Trading in US index futures indicated Dow could fall 13 points at the opening bell on Wednesday, 6 January 2010.
In US markets action on Tuesday, the S&P 500 and the Nasdaq rose on as better-than-expected factory orders and a surge in vehicle sales at Ford Motor Co provided more evidence of an economic recovery. But a big decline in pending home sales, which fell in November for the first time in nine months, increased concerns about the housing market, capping the broad market's gains and pushing the Dow industrials into the red, a day after all three major US stock indexes finished the first trading day of 2010 at the highest levels in over a year. The Dow Industrials slipped 11.94 points, or 0.1%, to 10,572.02. The Standard & Poor's 500 index rose 3.53 points, or 0.3%, to 1,136.52. The Nasdaq Composite Index was up 0.29 points, or less than 0.1%, to 2,308.71.
In economic data, pending-home sales tumbled 16% in November 2009, much steeper than the 5% drop expected and the 3.7% gain logged in October 2009. But factory orders rose 1.1% in November, more than double of what was expected.
Short-term US interest rate futures prices climbed for a second straight day on Tuesday as traders' sentiment for yields to stay low runs contrary to views evident just before the turn of the year. Federal-funds futures after Tuesday's action see less than even odds for the Federal Open Market Committee (FOMC) to raise the funds rate by mid-year. The July 2010 contract priced in only a 46% chance for the FOMC to lift the Fed funds rate to 0.5% at the late June 2010 policy meeting, down from a 58% chance at Monday's settlement, and a 78% chance as factored in at last Thursday's settlement.
Closer home, the BSE 30-share Sensex rose 14.89 points or 0.08% at 17,701.13, its highest closing since 28 February 2008. The Sensex gained 104.09 points at the day's high of 17,790.33 at the onset of the trading session. The Sensex fell 49.53 points at the day's low of 17636.71 in morning trade.
The S&P CNX Nifty rose 3.90 points or 0.07% at 5281.80, its highest closing since 28 February 2008. It hit a high of 5310.85 in early trade, its highest since 27 February 2008.
BSE clocked a turnover of Rs 6198 crore, lower than Rs 7135.39 crore on Tuesday, 5 January 2010.
The market breadth, indicating the overall health of the market was positive. But the breadth weakened when compared to a strong breadth witnessed in early trade. On BSE, 1488 shares advanced as compared with 1,408 that declined. A total of 73 shares remained unchanged.
The BSE Mid-Cap index rose 0.6% and the BSE Small-Cap index rose 0.44%. Both these indices outperformed the Sensex
Among the sectoral indices on BSE, the BSE HealthCare index (up 2.04%), the BSE Realty index (up 1.43%), the BSE Oil & Gas index (up 1.1%), the BSE Consumer Durables index (up 0.68%), the BSE FMCG index (up 0.53%), banking sector index the Bankex (up 0.43%) and the BSE Power index (up 0.21%), outperformed the Sensex.
The BSE IT index (down 1.41%), the BSE Metal index (down 0.98%), the BSE Auto index (down 0.34%) and the BSE Capital Goods index (down 0.34%), underperformed the Sensex.
Among the 30-member Sensex pack, 15 rose while rest fell.
Index heavyweight Reliance Industries (RIL) rose 1.8% on bargain hunting after the stock declined for two days in a row. RIL, early this week, raised Rs 2,675 crore selling shares held by its treasury to build a war chest probably to buy the bankrupt petrochemical major LyondellBasell.
RIL sold 2.58 crore treasury shares, created eight years ago following the merger of Reliance Petroleum with RIL, to state-owned Life Insurance Corporation, which is the largest institutional shareholder in the company with a 6% stake.
FMCG stocks rose on bargain hunting. ITC, Hindustan Unilever, Dabur India, Tata Tea rose by between 0.14% to 1.78%.
Software pivotals fell on a firm rupee. India's second largest software services exporter Infosys fell 1.35% even as its ADR rose 0.39% on Tuesday. India's third largest software services exporter Wipro fell 1.65% even as its ADR rose 2.92% on Tuesday. India's largest software services exporter TCS fell 2.28%.
The rupee surged to its highest level in 11 weeks against the US dollar boosted by a report calling for a yuan revaluation and following the domestic stock market's rise to a 22-month peak early. At 15:00 IST, the partially convertible rupee was at 45.97/98 per dollar, its strongest since 20 October 2009, and above Tuesday's close of 46.24/25. A firm rupee adversely affects operating profit margin of IT firms as the sector derives a lion's share of revenue from exports.
Rate sensitive realty stocks rose on positive outlook for 2010 after a lackluster 2009. India's largest realty player by market capitalization DLF rose 2.38%. On 16 December 2009, the company's board approved merger of its commercial realty arm DLF Assets (DAL) with itself, a move aimed at repaying some of DAL's debt.
Among other realty stocks, Indiabulls Real Estate, Unitech, Phoenix Mills rose by between 0.72% to 5.02%.
Drug maker Dr. Reddy's Laboratories rose 2.32% extending Tuesday's 2.91% gains after the company said its Balaglitazone diabetes drug has met its primary target in the first of its phase 3 clinical trials. Balaglitazone reduced blood glucose levels over a period of time in the study conducted on 409 patients.
Among other health care stocks. Sun Pharmaceuticals, Ranbaxy Labs, Cipla, Pfizer rose by between 0.96% to 4%.
Metal stocks fell on profit taking. Steel Authority of India (SAIL) fell 1.5%. The company reported a 32% growth in sales at 1.3 million tonne in December 2009 from a year ago
Tata Steel, the world's eighth-largest steelmaker fell 1.09%. The company said on Tuesday sales from its Indian operations rose 73% in December 2009 to 636,000 tonnes from a year earlier. India sales for the December 2009 quarter rose 49% to 16 lakh tonnes, the company said in a statement. The Indian operations account for about a quarter of the group's total annual global capacity of 30 million tonnes, which includes unit Corus, Europe's second-largest steelmaker.
Sales of flat products, used in automobiles and consumer durables, surged 90% in December, while sales of long products, primarily used in construction, rose 56%, Tata Steel said. The company's crude steel production in India rose 21%.
Steel companies are reportedly eyeing higher prices in 2010 as stronger economic growth worldwide drives up demand for the critical building material.
Recently, Tata Steel raised prices by Rs 2,000 a tonne, while state-owned Steel Authority of India (SAIL) withdrew the Rs 750-1,500 per tonne rebate it had started offering in November 2009, following the increase in raw material cost. Other secondary steel makers such as Bhushan Steel and Uttam Galva also raised the prices of their products on 5 January 2010.
Among non ferrous stocks, Sterlite Industries, Hindalco Industries, Hindustan Zinc, fell by between 0.13% to 2.45%.
National Aluminium Company fell 5.91% on profit taking after gaining 14.84% on Tuesday. As per recent reports, the state-run aluminium producer has hiked prices of rolled products by Rs 3,000 a tonne and other product prices by Rs 1,000 a tonne.
India's largest mobile services provider by sales Bharti Airtel fell 0.92% after gaining 1.57% on Tuesday on reports the firm has got approval from Bangladesh's telecoms authority for its proposed $300 million investment in Abu Dhabi Group's Warid Telecom.
India's second largest mobile services provider by sales Reliance Communications rose 0.22% after gaining 3.51% on Tuesday.
India's largest thermal power generator by sales NTPC fell 0.41%. The government plans to divest stake in the firm.
Among other power sector stocks, Reliance Power, Reliance Infrastructure and Torrent Power fell by between 0.81% to 2.36%.
Shipping companies rose, after the Baltic dry index, which tracks rates to ship dry commodities, surged 4.14% in London on Tuesday, 5 January 2010. Shreyas Shipping & Logistics, Shipping Corporation of India, Varun Shipping Company, Mercator Lines and Great Eastern Shipping Company rose by between 0.28% to 2.91%.
Auto stocks fell on profit taking. India's largest motorcycle maker by sales Hero Honda Motors fell 1.15%. Sales jumped 74% to 375,838 units in December 2009 over December 2008.
Bajaj Auto fell 1.35%. Bajaj Auto sold 2,20,429 two-wheelers in December 2009, registering an 85% growth in sales over the same month last year, when it sold 1,19,215 units.
TVS Motors fell 3.68% declining for the second straight day. Sales rose 34% to 119,701 units in December 2009 over December 2008.
India's largest car maker by sales Maruti Suzuki India fell 3.5%, extending previous session's losses as removal of incentives in Europe on car purchases may hit exports next year. Maruti Suzuki's managing director and chief executive officer, Shinzo Nakanishi was quoted by the media as saying on Tuesday that the company will see flat to lower exports next year because of the scrappage of incentives by Europe. He also said there would be lower offtake from Nissan for exports as a result of the removal of incentives.
Nakanishi said the company aims to keep operating margins at 10% in fiscal year 2009/10 but profitability will be impacted by a rise in raw material prices and a rise in the yen.
Maruti Suzuki India reported 50.6% increase in total vehicle sales to 84,804 units in December 2009 over December 2008. Domestic sales rose 36.5% to 71,000 units, while exports surged 223.7% to 13,804 units.
But, India's top truck maker by sales Tata Motors rose 0.14%. Tata Motors has raised prices of some truck and bus models in January 2010 by about 1%. The company expects commercial vehicle sales to remain strong in the next 12 months. The company's chairman Ratan Tata said on Tuesday that the company may consider launching its ultra-cheap Nano car in the United States in three years, following possible sales in Europe by the end of 2011.
Tata Motors registered 105% growth in sales to 51,627 units in December 2009 over December 2008.
India's largest tractor marker by sales Mahindra & Mahindra (M&M) advanced 2.39%. M&M marked its entry on Monday into the heavy commercial vehicle (HCV) segment with its unveiling of 25 and 31 tonne trucks with its US-based joint venture partner Navistar Inc.
Mahindra & Mahindra, reported 122% rise in its domestic sales to 22,754 units in December 2009 over December 2008. The company sold a total of 24,001 vehicles (domestic plus exports) in December 2009 as against 11,172 vehicles sold in December 2008.
India's largest engineering & construction firm by sales Larsen & Toubro fell 1.04% on profit taking after the stock rose for three consecutive days. The company said on Monday it won orders worth Rs 987 crore. The company said on Thursday 31 December 2009 it won two orders totaling Rs 580 crore.
Among other capital goods stocks, ABB, Bharat Heavy Electricals, AIA Engineering and Praj Industries fell by between 0.07% to 2.41%.
Banking stocks extended recent gains on reports credit offtake has picked up. According to the latest Reserve Bank of India (RBI) figures, total loans, including food credit loans to Food Corporation of India for foodgrain procurement and non-food credit (all other loans) amounted to Rs 29,41,293.07 crore as on 19 December 2009. This represents a sequential growth of Rs 34,028 crore since 27 November 2009 compared to a growth of Rs 7,698 crore in the whole of November 2009.
India's largest private sector bank by net profit ICICI Bank rose 0.86% as its ADR rose 1.43% on Tuesday. ICICI Bank has tied up with UK Trade and Investment to help Indian firms explore business opportunities in the British market. Through this tie-up, the bank will be able to provide value-added services such as training events and investment assistance to Indian firms looking at business opportunities in the UK. UK Trade and Investment is a government organisation that helps UK-based companies succeed in international markets.
India's largest bank by net profit and branch network State Bank of India rose 0.57%. The state-run bank paid advance tax of Rs 1795 crore versus Rs 1700 crore.
India's second largest private sector bank by net profit HDFC Bank was flat. Its ADR rose 0.43% on Tuesday.
Shares of DB Corp settled at Rs 265.90, at a premium of 25.42% over the initial public offer price of Rs 212. The stock debuted at Rs 250, a 17.90% premium over the initial public offer (IPO) price.
Cals Refineries clocked highest volume of 3.09 crore shares on BSE. D B Corp (1.99 crore shares), Kaashyap Technologies (1.63 crore shares), Mahindra Satyam (1.29 crore shares) and Ispat Industries (1.25 crore shares) were the other volume toppers in that order.
D B Corp clocked highest turnover of Rs 529.61 crore on BSE. Mahindra Satyam ((Rs 141 crore), Tata Steel (Rs 135.87 crore), JSW Energy (Rs 118.75 crore) and Reliance Industries (Rs 17.23 crore) were the other turnover toppers in that order.

Grey Market Premium - DB Corp, MBL Infrastructure

Company Name

Offer Price

(Rs.)

Premium

(Rs.)

D.B. Corp.

212

(For Retail Investor Rs. 210)

25 to 30

MBL Infra

180

10 to 12