Company Name
Offer Price
(Rs.)
Premium
(Rs.)
Jubilant Food Works Ltd.
135 to 145
33 to 35
Aqua Logistics
220 to 230
18 to 20
Syncom Healthcare
65 to 75
5 to 6
Thanga Mayil
70 to 75
7 to 8
NTPC
--
--
Infinite Computer
155 to 165
37 to 40
Birla Shloka (FPO)
45 to 50
Discount
Bank stocks try to support the financial sector
US stocks ended deep drowned in the red on Wednesday, 20 January 2010. This was despite a batch of better than expected earning reports from companies in the financial sector. The economic data also did little to help pull up stocks. The financial and healthcare sectors tried to garner support.
At the end of the day on Wednesday, 20 January, 2010, the Dow Jones Industrial Average ended lower by 122.28 points at 10,603.15. Nasdaq ended lower by 29.15 points at 2291.25. S&P 500 ended lower by 12.19 points at 1138.07. Earlier in the day, Dow was down by 195 points.
All ten economic sectors ended in the red led by energy, materials, and technology sectors. Kraft was a major Dow laggard while Bank of America was a Dow winner.
In the currency market on Wednesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies rose by almost 1.1%. The dollar strengthened on fears that China will curb bank lending. The China Banking Regulatory Commission said it hasn't "specifically" told banks to suspend lending in January, but a report said that it had asked several banks to stop issuing loans.
This week is quite heavy on earning reports. Among earning reports expected for the day, Bank of America and Wells Fargo both reported improved fourth-quarter results. Bank of America came closer to the black and Wells swung to a profit. Both banks join peers that have also posted better results a year after the depths of the financial crisis. Morgan Stanley also posted a fourth-quarter profit of $617 million, though its revenue of $6.85 billion was below expectations. With the help of these bank shares, the financial sector was able to limit its losses.
In the technology sector, IBM topped expectations. But Microsoft, Yahoo, Apple, RIMM, Cisco all weighed on the Nasdaq.
Among economic data expected for the day, The Labor Department in US reported on Wednesday, 20 January 2010 that prices at the wholesale level in US increased a seasonally adjusted 0.2% in December 2009 largely due to a sharp increase in food costs.
Core producer prices, excluding volatile food and energy inputs, were unchanged. Market was expecting a 0.1% decline in overall produce prices and a 0.1% increase in the core rate. A month back in November 2009, higher energy costs sent the U.S. producer-price index surging 1.8%, its biggest one-month gain since last summer. Energy costs retreated in December, however.
Separately, the Commerce Department in US reported on Wednesday, 20 January 2010 that housing starts fell 4% to a seasonally adjusted annual rate of 557,000 in December 2009. Starts are down about 75% from the peak in 2006. The December estimate of 557,000 was however better than the 540,000 unit rate expected.
For all of 2009, an estimated 554,000 homes were started, which is down 39% from 2008's total and the lowest on record. Starts of single-family homes dropped 29% to a record-low 444,000 in 2009. Housing starts of single-family homes, condominiums, and apartments have been essentially flat over the past year. Compared with December 2008, starts are up 0.2%, the first year-over-year gain since early in 2006.
Crude oil prices ended lower once again on Wednesday, 20 January 2010. Prices fell as the dollar headed up strongly. Yesterday, prices had closed higher for the first time in six sessions. On Wednesday, crude-oil futures for light sweet crude for February delivery closed at $77.62/barrel (lower by $1.4 or 1.8%). The February contract ended today. Crude ended last week lower by 5.7%. On a year to date basis till date, crude is lower by 3.9%.
All Indian ADRs ended in the red today. Dr Reddys, MTNL and VSNL were the largest losers shedding 6.5%, 6.3% and 3.9% respectively. HDFC Bank and ICICI Bank shed 1.5% and 1.4% respectively.
Tomorrow, the day will feature economic reports including initial claims and continuing claims. Other than that, earning reports will continue to dominate.
Indian equities are likely to open flat with negative bias on Thursday, January 21, 2010. SGX Nifty is trading at 5,196.50 (7.48 am), 18 points lower than Wednesday`s closing of 5,214.5.
In the spot market, the Dollar Index increased 0.011% to 78.37. It touched a high of 78.53 and a low of 78.22 after opening at 78.28. (21:05 ET)
Most Asian stocks was trading mixed on Thursday amid drop in shipping companies, while precision-equipment makers gained.
US stocks slumped on Wednesday amid mixed earnings results from key banks and credit tightening by global economic growth driver China. Among Indian ADRs, Satyam Computer Services (2.11%) were major gainers. MTNL (3.24) On the other hand, ICICI Bank (1.42%), HDFC Bank (1.56%), Wipro (1.77%) were major losers.
European stocks declined for the first time in three days, as mining companies tumbled by the most in almost two months amid speculation China may rein in stimulus measures.
Oil prices tumbled Wednesday, weighed down by a drop on Wall Street, a stronger dollar and signs that China`s energy needs might not be as robust as previously thought.
The Market is seen extending its two-day decline following weak global cues. The S&P CNX Nifty futures for January 2010 expiry were trading 33.5 points lower in Singapore. However upgrade of growth forecast in major economies may cushion sharp fall.
The government will today unveil data on some wholesale price indices for the year through 9 January 2009 viz. the food price index, the primary articles index and the fuel price index.
Finance minister Pranab Mukherjee said on Wednesday the government was taking steps to contain inflation. The situation is constantly under review, he said. He also promised more measures to check the rise in the prices of essential commodities.
Food prices will cool off in 1-2 months and inflation will turn around, finance ministry's chief economic advisor Kaushik Basu said in a newspaper interview published on Wednesday. The Reserve Bank of India will hold its quarterly monetary policy review on 29 January 2010 and is widely expected to increase the cash reserve ratio (CRR) requirements for banks, but economists are divided on when it will raise interest rates. CRR is the level of cash that banks must keep in deposit with the central bank. Food prices rose near 20% in December from a year earlier, their highest in 11 years.
Monthly inflation may touch double digits by March 2010, Chief Statistician Pronab Sen told Television media on Tuesday. The wholesale price index rose to 7.31% in December 2009 from a year earlier, driven by higher food prices.
Economic growth will accelerate this year, Commerce and Industry Minister Anand Sharma said on Tuesday as he demanded better access to China's markets to help exports. Sharma's call for greater access for goods comes amid a widening trade gap between the two countries. Trade between the two grew rapidly to $50 billion in 2008, making China India's second-largest trading partner, but fell back to $43 billion in 2009 as global trade declined. Sharma called for more Chinese direct investment in India, especially in infrastructure, while noting that Indian firms are already present in China.
Reliance Industries may see action on reports it is unlikely to raise its offer price to take a controlling stake in LyondellBasell Industries.
Asian markets were trading lower today following a setback in US markets on Wednesday. Key benchmark indices in China, Hong Kong, South Korea, Singapore and Taiwan were down by between 0.11% and 1.27%. However Japan's Nikkei 225 index rose 0.37%.
US markets ended sharply lower on Wednesday, 20 January 2010, as earnings and the dollar's gains clipped the market's momentum. In earnings, Bank of America disappointed investors with a loss of $5.2 billion, which was worse than expected. Among others, Morgan Stanley's earnings fell short of analysts' expectations, but Wells Fargo posted an unexpected profit.
The Dow Jones industrial average lost 122.28 points, or 1.1%, to 10,603.15. The S&P 500 index fell 12.19 points, or 1.1%, to 1,138.04, and the Nasdaq Composite Index fell 29.15 points, or 1.3%, to 2,291.25.
The World Bank raised its forecast for global growth in 2010 and warned that the recovery may lose momentum in the second half of the year as government stimulus programs wind down and unemployment persists.
The world economy will expand 2.7% this year after the worst recession since the end of World War II, compared with an estimate in June of a 2% expansion, the Washington- based poverty-reduction agency said today in an annual report. Growth may reach 3.2% in 2011, the bank said.
The World Bank report also includes figures on last year's downturn, with an estimate that the global economy declined 2.2%, compared with the 2.9% decrease projected in June.
Growth in emerging nations is expected to reach 5.2% this year, compared with a June estimate of 4.4%, the bank said today. China will expand 9% this year and India 7.5%, it said.
The World Bank also raised its forecast for U.S. growth in 2010 to 2.5% growth, after predicting 1.8% in June. Japan's gross domestic product will expand 1.3% this year, more than the 1% predicted in June. The euro area's economy is forecasted to grow 1%, compared with the earlier estimate of 0.5% expansion.
Back home, key benchmark indices ended a choppy trading session marginally lower on Wednesday, extending losses for the second straight day as weak global stocks weighed on investor sentiment. The BSE 30-share Sensex fell 11.57 points or 0.07%. The Sensex had lost 155.02 points or 0.88% to 17,486.06 on Tuesday, 19 January 2010.
As per provisional figures on NSE, the foreign funds sold shares worth Rs 271.33 crore and domestic funds bought shares worth Rs 344.41 crore on Wednesday, 20 January 2010.
ONGC to shell out Rs35bn as fuel subsidy for Q3 FY10. (BL)
OIL India to shell out Rs4.67bn as fuel subsidy for Q3 FY10. (BL)
Lyondell Chemical's creditors' committee failed to end the company's control of its bankruptcy case after a lawyer said a rival bid from Reliance Industries may be more attractive. (FE)
LIC objects L&T’s plans to enter life insurance business. (ET)
Bharti Walmart, JV between Bharti Enterprises and Walmart Stores Inc for wholesale cash and carry and backend supply chain management operations, has opened its first agricultural cooperative centre in Sirhind, Punjab. (FE)
CAG has sought government’s intervention to access financial records of Cairn India operated Rajasthan oil fields. (ET)
RCom has asked communications ministry to reject Parakh audit report and alleged that the report was issued for malafide purpose, based on uncorroborated facts and done without any discussions with the company. (ET)
Credit growth seen at 20% next year, says SBI. (BS)
NTPC to get into LNG chain by leveraging the upcoming Dabhol LNG terminal. (BL)
Reliance ADAG group is all set to fork out US$250-300mn for its Hollywood venture. (BS)
JSW Steel to set-up 1600MW power plant in West Bengal with an investment of Rs96.8bn. (BS)
Ashok Leyland to invest Rs1.2bn to raise its aluminum high-pressure die cast annual capacity to 10,000tons. (BL)
The Supreme Court has sought reply from IOC in a dispute related to a US$29.75mn contract for laying 19.5km long submersible pipeline in the sea off Paradip port. (FE)
Tata Communication to invest Rs5bn in Pune data centre. (ET)
Lupin has received USFDA approval for its plant in Madhya Pradesh. (ET)
HDIL has raised additional debt of Rs4.25bn. (ET)
Alok Industries plans to exit real estate business and offload stakes in international retail subsidiaries. (ET)
Mercator Lines has bagged an order worth Rs10bn for a seven year period for chartering a mobile offshore production unit. (ET)
Mastek has announced the acquisition of Kognitio's data migration offering comprising its data factory tool kit (DFTK) and data migration methodology. (FE)
T Rowe Price has bought a 26% stake in UTI Asset Mangement Company and UTI Trustee Company for Rs6.5bn. (ET)
Bharti Biotech starts phase one trials of H1N1 vaccine. (BL)
Godfrey Philips to launch chewing products with an investment of Rs1.2bn. (BL)
Government has proposed to ease FDI approval norms by raising the ceiling of automatic approval to R10bn from Rs6bn currently. (BS)
India issues demarche to China on trade barriers. (FE)
The government plans to allow major ports to fix tariff on their own in order to give them a level-playing field with minor ports. (FE)
Peak power demand deficit to widen to 12.6% in 2010. (BL)
Finance minister raises concern over high inflation. (BL)
Government is likely to issue guidelines for 3G auction today. (BS)
We can let circumstances rule us, or we can take charge and rule our lives from within.
Possibilities of further monetary tightening by China spooked world markets even as investors mulled results from top US banks. Tightening fears may not be misplaced after all, China’s Q4 GDP accelerated to 10.7% from 8.9% in Q3.
The dollar and the yen rose and commodity-linked currencies dropped. Lingering worries over possible debt troubles pressured the euro. The Dow fell 122 points in the steepest fall since mid-December. Meanwhile, the World Bank says the global economy is set for a tepid rebound and may run out of steam later this year.
We expect a shaky start as most Asian markets are in red or flat. The outlook remains murky. The key indices will continue to consolidate at least till the RBI policy meet. Budget will be another major event as it will indicate the Government’s views on ‘stimulus exit’.
India Infoline Q3 Consolidated Income was up 39% yoy and Net Profit rose 100% yoy. Income stood at Rs3.19bn, up 1.9 % QoQ and 38.7% yoy. PBT was at Rs968.5mn, up 113.5% yoy.
We expect ONGC to report 21% YoY growth in revenues and 107.6% YoY jump in PAT. ICICI Bank is expected to post 7.2% YoY gain in its net interest income while net profit is forecast to grow 15.1% YoY.
Results Today: Abhishek Ind, ACE, Adhunik Metaliks, Amara Raja Batteries, Apar Ind, Asahi India, BHEL, Biocon, Brigade, GSFC, ICICI Bank, Idea, IBull Power, IBull Realty, Indotech Transformers, Indraprastha Gas, ING Vysya Bank, Ipca Labs, JSW Energy, Jubilant Organosys, Kirloskar Oil, Kotak Bank, L&T, M&M Financial, Ngarjuna Fertilizers, NDTV, Network 18, ONGC, Petronet LNG, Piramal Healthcare, Rolta, Sasken, Shree Cement, United Spirits, Welspun Gujarat, WWIL and Zensar Tech.
FIIs were net sellers in the cash segment on Wednesday at Rs2.71bn on a provisional basis. The local funds were net buyers of Rs3.44bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs54.2mn. As per the SEBI figures, FIIs were net sellers of Rs4.51bn in the cash segment on Tuesday.
US stocks slumped as a strong dollar and speculation about China's lending curbs slammed commodities, one of the leaders of the recent rally. IBM dragged on the technology sector as investors picked apart the company's outlook one day after sending the stock higher.
The Dow Jones industrial average fell 122 points, or 1.1%, after having fallen as much as 207 points in the morning. The S&P 500 index lost 12 points, or 1%. The Nasdaq composite gave back 29 points, or 1.3%.
A stronger dollar pressured dollar-traded commodity prices and stocks. The sector was also hit by reports that China intends to slow the pace of lending this year in an attempt to get ahead of inflation.
China's efforts to get their banks to lend less really hit commodities hard, because China is the marginal buyer of commodities.
Commodities and commodity stocks were among the big leaders of the rally over the last year and the weakness in the sector dragged on the broader market on Wednesday.
Commodities were also under pressure in reaction to the dollar, which firmed up in comparison to a weak euro and in response to the surprise Republican senatorial victory in Massachusetts.
Investors were assessing the surprise Republican election to the Massachusetts Senate seat previously held by the late Ted Kennedy. The upset victor could kill health care reform by ending the Democrats' majority in the Senate. Additionally, House Democrats are opposed to the idea of passing the Senate health care bill.
IBM and the techs led stocks higher on Tuesday and IBM and the techs were among the biggest drags Wednesday, as investors backtracked one day after the Dow, S&P 500 and Nasdaq ended at the highest levels since Sept. 2008.
IBM reported higher quarterly sales and earnings late Tuesday that topped estimates. But investors took a "sell the news" approach and sent shares almost 3% lower on Wednesday.
IBM said it earned $3.59 per share versus $3.28 a year earlier. Analysts surveyed by Thomson Reuters thought it would earn $3.47 per share. Sales inched up to $27.23 billion from $27 billion in the prior year versus forecasts for a drop to $26.96 billion.
Looking forward, IBM said it expects earnings per share of at least $11 for 2010.
Starbucks reported higher quarterly sales and earnings that topped estimates thanks largely to growth at stores open a year or more, a retail metric known as same-store sales.
Dow component Bank of America said losses widened to $5.2 billion in the fourth quarter of last year, partly due to the bank paying back government bailout funds. BofA said the repayments shaved $4 billion off its bottom line.
The company was expected to post a loss of $3.9 billion, according to forecasts. On a per-share basis, BofA lost 60 cents versus forecasts for a loss of 52 cents. Shares were barely changed.
Morgan Stanley reported its second-straight quarterly profit, one year after posting a massive loss. The financial firm said it earned $617 million for the quarter versus a loss of $11 billion a year ago. The stock fell around 1.7%.
Wells Fargo reported a surprise profit of $2.82 billion, or 8 cents a share, versus forecasts for a small loss. The bank benefited from stronger fee income, even as it repaid $25 billion in bailout money. Shares fell 1.6%.
Building permits, a measure of builder confidence, rose to a 653,000 unit annual rate in December from a 589,000 rate in November, the government reported. Permits were expected to rise to a 590,000 rate, according to a consensus of economists.
But housing starts fell to a 557,000 unit annual rate from a 580,000 unit rate in November. Economists thought starts would fall to a 572,000 unit rate.
The Producer Price Index (PPI), a measure of wholesale inflation, rose 0.2% in December after climbing 1.8% in the previous month. Economists thought it would hold steady. The so-called core PPI, which strips out volatile food and energy prices, was flat versus forecasts for a gain of 0.1%. Core PPI rose 0.5% in the prior month.
The dollar gained versus the euro and the yen.
COMEX gold for February delivery fell $27.40 to settle at $1,112.60 an ounce. Gold closed at an all-time high of $1,218.30 an ounce last month.
US light crude oil for February delivery fell $1.87 to settle at $77.62 a barrel on the New York Mercantile Exchange.
Treasury prices rose in a classic flight-to-quality, lowering the yield on the 10-year note to 3.65% from 3.69% late on Tuesday.
European shares fell with miners leading decliners amid speculation China has ordered a curb on bank lending. Backing off Tuesday's 15-month closing high, the pan-European Dow Jones Stoxx 600 index lost 1.5% to 256.46.
The euro hit a five-month low in the session against the dollar. Worries about Greece's budget problems also hurt sentiment.
The Greek ASE Composite index fell 3.4% to 2,030.28, while the German DAX index lost 2.1% to 5,851.53, the French CAC-40 index declined 2% to 3,928.95 and the U.K. FTSE 100 index shed 1.7% to 5,420.80.
The Indian market ended on a flat note but off the day’s low amid continued volatility as investors mulled a spate of results. A healthy start was marred by selling pressure around noon when equity markets across Asia lost ground led by China on reports that Chinese regulators have asked some banks to limit their lending.
Chinese stocks slid, dragging the region’s benchmark to its third straight decline, after the news. The dollar gained against 14 of 16 of the most-traded currencies while the euro tumbled to a four-month low against the dollar.
The Shanghai Composite Index lost 2.9% and Hang Seng Index slipped 1.9%, leading declines in Asia. The Morgan Stanley Asia Pacific Index fell 0.7% to 124.44 at 5 p.m. in Tokyo. US stock futures were negative. The Dow Jones Stoxx 600 Index fell 0.3% to 259.59 at 8 a.m. in London.
Back home, among the BSE sectoral indices, Realty, Oil & Gas and FMCG led the decline today. Even the PSU stocks, which have been on fire lately on disinvestment trigger, saw profit booking. The Mid-Cap and Small-Cap stocks too failed to do an encore.
The BSE Sensex ended flat at 17,474 after touching a high of 17,590 and a low of 17,425. The Nifty ended flat at 5,221.
Equity markets in Asia ended mixed. The Nikkei in Japan was down 0.3%, while Australia's S&P/ASX ended flat. The Shanghai SE Composite was down 2.5% and Hang Seng index in Hong Kong ended lower by 1.8%.
In Europe, stocks were trading in the red. The DAX in Germany was down 0.5% and the CAC 40 index in France was down 0.5%. The FTSE in the UK fell 0.6%.
Coming back to India, among the BSE sectoral indices, the Realty index was the top loser, shedding 2%, followed by the Oil & Gas index that was down 1.3% and the BSE PSU index was down 1.2%. The BSE Mid-Cap index ended lower by 0.2% while BSE Small-Cap index was down 0.3%.
Among the 30-components of Sensex, 17 stocks ended in the negative terrain and 12 ended in the green. JP Associates, ONGC, Sterlite, DLF and Wipro were among the top losers.
Bucking the negative trend were, Bharti Airtel, Maruti, Tata Steel and Hindalco were among the top gainers.
Wipro posted a net profit of Rs12.1bn for the quarter ended December 31, 2009 as compared to Rs10.03bn for the quarter ended December 31, 2008. Total Income has increased from Rs67.73bn for the quarter ended December 31, 2008 to Rs70.55bn for the quarter ended December 31, 2009.
The scrip ended lower by 1.8% to end at Rs725, it opened at Rs740 it touched an intra-day high of Rs753 and a low of Rs722 and recorded volumes of over 0.3mn shares on BSE.
Dr Reddys Laboratories posted a net loss attributable to the shareholders of the parent of (Rs2.33)bn for the quarter ended December 31, 2009 as compared to Net Profit Rs1.59bn for the quarter ended December 31, 2008.
Total Income has decreased from Rs18.55bn for the quarter ended December 31, 2008 to Rs17.67bn for the quarter ended December 31, 2009.
The scrip gained 2% to end at Rs1202, it opened at Rs1194 it touched an intra-day high of Rs1219 and a low of Rs1141 and recorded volumes of over 0.13mn shares on BSE.
HDFC posted a net profit after tax of Rs6.7bn up 24% for the quarter ended December 31, 2009 as compared to Rs5.4bn for the quarter ended December 31, 2008. Total Income has decreased from Rs29.24bn for the quarter ended December 31, 2008 to Rs27.62bn for the quarter ended December 31, 2009.
Shares of HDFC gained by 0.5% to end at Rs2524. The scrip opened at Rs2534 it touched an intra-day high of Rs2553 and a low of Rs2495 and recorded volumes of over 0.13mn shares on BSE.
Lupin announced that its U.S. subsidiary, Lupin Pharmaceuticals, Inc (LPI) has received the tentative approval for the Company's Abbreviated New Drug Application (ANDA) for its Memantine Hydrochloride tablets, 5mg and 10mg from the US Food and Drug Administration (USFDA)
Lupin's Memantine HC1 tablets are AB-rated to Namenda® tablets indicated for the treatment of moderate to severe dementia of the Alzheime's type Namenda had annual sales of approximately $1.1 billion for the twelve months ended September 2009, based on IMS health sales data.
The scrip gained 0.5% to end at Rs1420, it opened at Rs1420 it touched an intra-day high of Rs1455 and a low of Rs1418 and recorded volumes of over 40,000 shares on BSE.
HDIL announced that it has posted a decline of 12% in net profit which stood at Rs1.62bn for the quarter ended December 31, 2009 as compared to Rs1.84bn for the quarter ended December 31, 2008. While total income has increased from Rs3.4bn for the quarter ended December 31, 2008 to Rs4.35bn for the quarter ended December 31, 2009.
Shares of HDIL ended lower by 4% to end at Rs371. The scrip opened at Rs388 it touched an intra-day high of Rs388 and a low of Rs369 and recorded volumes of over 2.5mn shares on BSE.
Shares of Siemens gained by 3.5% to end at Rs668 after the Company’s consortium and Siemens AG, Germany has won an order from Qatar General Electricity & Water Corporation (Kahramaa), Qatar worth Rs29.56bn.
The contract value for the Company is approx Rs24.91 bn.
The scope of work for this turnkey project includes complete design, engineering, supply, erection, civil, testing and commissioning of 14 new substation, 5 modification substation and 5 cable diversions. The commissioning of the project is scheduled to be completed in April 2013.
Yes Bank Q3 net profit rose 18% at Rs1.26bn as against Rs1.06bn in the same period previous year. Shares of Yes Bank slipped 4% to end at Rs272. The scrip opened at Rs286 it touched an intra-day high of Rs288 and a low of Rs271 and recorded volumes of over 1mn shares on BSE.
Sun TV posted a net profit after taxes of Rs1.5bn for the quarter ended December 31, 2009 as compared to Rs1.1bn for the quarter ended December 31, 2008. Total Income has increased from Rs2.8bn for the quarter ended December 31, 2008 to Rs4.03bn for the quarter ended December 31, 2009.
The scrip shot up by over 10% to end at Rs408, it opened at Rs375 it touched an intra-day high of Rs421 and a low of Rs367 and recorded volumes of over 0.76mn shares on BSE.
Demand concerns from China hit metal prices
Base metal prices ended lower on Wednesday, 20 January 2010. Prices fell as the dollar headed up strongly and on demand concerns from China.
At USA, copper futures for March delivery ended lower by 8.7 cents (2.5%) to 3.36 a pound. Last week, copper ended lower by 3.5%. This year, till date, copper is lower by 3.2%. Copper ended FY 2009 higher by 140%.
At LME, copper for delivery in three months ended lower by $170 (2.3%) at $7,375. On 3 July, 2008, prices had touched an all time intra day high of $8,940.
Copper ended substantially higher last year on expectations of revived global economic growth along with a decline in the dollar. The dollar index had dropped almost 4.2% last year. The metal was also pushed higher by record first-half imports to China, the world's largest user.
The U.S. buys about 13% of the 17 million metric tons of copper sold annually and China buys about 20%.
In the currency market on Wednesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies rose by almost 1.1%. The dollar strengthened on fears that China will curb bank lending. The China Banking Regulatory Commission said it hasn't "specifically" told banks to suspend lending in January, but a report said that it had asked several banks to stop issuing loans.
In FY 2008, copper prices dropped by 54%. Prior to 2008, copper prices ended FY 2007 with a gain of mere 5.5% after a whopping 44% gain in FY 2006. The price of copper gained every year since 2002 as global economic growth boosted demand for the metal used in pipes and wires.
At the MCX, copper for February delivery closed lower by Rs 6.4 (1.8%) at Rs 341.35/Kg. Prices rose to a high of Rs 348/Kg and fell to a low of Rs 340.2/Kg during the day's trading.
Among other metals traded in the LME on Wednesday, lead ended little lower at $2,42145 a ton and zinc dropped marginally to end at $2,490 a ton. Nickel dropped 1.2% to end at $19,060. Aluminium shed 0.4% to end at $2,284 a ton.
Turnover rises
Nifty January 2010 futures were at 5214.55, at a discount of 7.15 points as compared to the spot closing of 5221.70. Turnover in NSE's futures & options (F&O) segment increased to Rs 65,565.50 crore from Rs 63,441.87 crore on Tuesday, 19 January 2010.
Tata Steel January 2010 futures were at discount at 650.30 compared to the spot closing of 652.
ICICI Bank January 2010 futures were near spot price at 874.40 compared to the spot closing of 874.80.
Housing Development & Infrastructure January 2010 futures were near spot price at 371 compared to the spot closing of 370.40.
In the cash market, the S&P CNX Nifty fell 3.95 points or 0.08% at 5,221.70.
Strong dollar hits crude oil prices
Crude oil prices ended lower once again on Wednesday, 20 January 2010. Prices fell as the dollar headed up strongly. Yesterday, prices had closed higher for the first time in six sessions.
On Wednesday, crude-oil futures for light sweet crude for February delivery closed at $77.62/barrel (lower by $1.4 or 1.8%). The February contract ended today. Crude ended last week lower by 5.7%. On a year to date basis till date, crude is lower by 3.9%.
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 48% since then. Crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex.
In the currency market on Wednesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies rose by almost 1.1%. The dollar strengthened on fears that China will curb bank lending. The China Banking Regulatory Commission said it hasn't "specifically" told banks to suspend lending in January, but a report said that it had asked several banks to stop issuing loans.
The Energy Department will report its weekly inventory report on crude and crude products tomorrow, a day later than normal, due to the Martin Luther King holiday on Monday. Market is expecting the report to show a build up of 2 million and 2.4 million barrels of crude and gasoline inventories respectively.
Yesterday, in the latest report, the Organization of the Petroleum Exporting Countries said that world oil demand is forecast to grow by 800,000 barrels a day this year to average 85.1 million barrels a day, representing no major change from last month's forecast.
Paris based, IEA, left its forecasts for global oil demand for 2010 virtually unchanged in its latest monthly report last week. It forecasts demand of 86.3 million barrels a day in 2010, up 1.7%, or 1.4 million barrels a day higher than 2009.
Among other energy products on Wednesday, February gasoline ended lower by 0.9% at $2.039 a gallon. Heating oil for February delivery closed lower by 1.2% at $2.021.
Also on Wednesday, natural gas for February delivery sank 3.8 cents, or 0.7%, to $5.519 per million British thermal units.
At the MCX, crude oil for February delivery closed Rs 18 (0.5%) lower at Rs 3,592/barrel. Natural gas for January delivery closed lower by Rs 5.3 (2.04%) at Rs 254.1/mmbtu.
Prices fall the most in a month
Precious metal prices turned extremely dull on Wednesday, 20 January 2010. Prices fell as the dollar headed up strongly. Prices also fell in tandem with the slipping crude price.
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 $1,112.6 an ounce, lower by $27.4 (2.4%) an ounce on the New York Mercantile Exchange. It was the biggest drop for the yellow metal in more than a month. Last week, it ended higher by 0.4%. Year to date in FY 2010, gold has risen by almost 1.7%.
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.
On Wednesday, March Comex silver futures ended lower by 92 cents (4.9%) at $17.88 an ounce. Last week, silver ended higher by 0.5%. Year to date in FY 2010, silver has risen by almost 7.2%.
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 rose by almost 1.1%. The dollar strengthened on fears that China will curb bank lending. The China Banking Regulatory Commission said it hasn't "specifically" told banks to suspend lending in January, but a report said that it had asked several banks to stop issuing loans.
Gold had ended FY 2009 higher by 24%. Silver futures had ended 2009 up 50%. The dollar index had lost 4.2% against its counterparts last year.
At the MCX, gold prices for February delivery closed lower by Rs 253 (1.5%) at Rs 16,680 per ten grams. Prices rose to a high of Rs 16,925 per 10 grams and fell to a low of Rs 16,642 per 10 grams during the day's trading.
At the MCX, silver prices for March delivery closed Rs 896 (3.1%) lower at Rs 27,769/Kg. Prices opened at Rs 28,636/kg and fell to a low of Rs 27,683/Kg during the day's trading.
Qualified Institutional Buyers (QIBs) 59.3882 times
Non Institutional Investors 51.9517 times
Retail Individual Investors (RIIs) 3.7854 times
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
20/1/2010 524412 Aarey Drugs NITA BANKESH BHAVSAR B 28156 51.14
20/1/2010 524412 Aarey Drugs PATEL APEXA JAGDISHBHAI B 36883 51.05
20/1/2010 524412 Aarey Drugs VARSHABEN NAVINBHAI SONI B 25931 51.07
20/1/2010 524412 Aarey Drugs PATEL APEXA JAGDISHBHAI S 41050 50.94
20/1/2010 532331 Ajanta Pharma SETU SECURITIES PVT LTD B 92727 141.45
20/1/2010 532331 Ajanta Pharma HITESH SHASHIKANT JHAVERI B 140035 141.75
20/1/2010 532331 Ajanta Pharma SETU SECURITIES PVT LTD S 85724 140.37
20/1/2010 532331 Ajanta Pharma HITESH SHASHIKANT JHAVERI S 139435 141.68
20/1/2010 505216 Alfred Herbert SURESH TARACHAND JAIN HUF B 4930 176.30
20/1/2010 505216 Alfred Herbert JAYESH MEHTA B 5355 186.34
20/1/2010 505216 Alfred Herbert SURESH TARACHAND JAIN HUF S 4930 186.57
20/1/2010 505216 Alfred Herbert JAYESH MEHTA S 5355 178.55
20/1/2010 512642 Artillegence Bio DHARMICHAND TOSHNIWAL S 22650 2.77
20/1/2010 513401 Ashiana Ispat VISHAL AGARWAL B 27947 15.91
20/1/2010 512109 Aviva Inds SHREYANSHNATH SHARES& FINANCIAL SERVICES PVT LTD B 18500 37.60
20/1/2010 512109 Aviva Inds AANGI SHARES & SERVICES PVT. LTD. B 19000 37.60
20/1/2010 512109 Aviva Inds PRAKASHBHAI NARSINHBHAI PATEL B 13050 37.56
20/1/2010 512109 Aviva Inds NARENDRABHAI AMTRATLAL AMIN B 19500 37.60
20/1/2010 512109 Aviva Inds SUBODHSAGAR SHARES & SERVICES PRIVATE LIMITED B 19250 37.60
20/1/2010 512109 Aviva Inds MEET TRADELINK B 17033 37.60
20/1/2010 512109 Aviva Inds RAJENDRASURI FINANCIAL SERVICES (GUJARAT) PRIVATE LIMITED B 17000 37.60
20/1/2010 512109 Aviva Inds KUNAL KANHAIYALAL SALAWAT S 13000 37.60
20/1/2010 532995 Avon Corp VINOD AMRATLAL NAAI B 361187 8.08
20/1/2010 505506 Axon Infotech PRAMILA NAVIN CHHEDA B 12500 31.00
20/1/2010 505506 Axon Infotech ASHARATAN SHIVCHAND PACHISIA B 4796 30.52
20/1/2010 505506 Axon Infotech PARESH DHIRAJLAL SHAH B 3910 31.00
20/1/2010 505506 Axon Infotech ABSOLUTE LEASING & FINANCE PVT LTD B 47035 30.57
20/1/2010 505506 Axon Infotech CHIMANLAL MANEKLAL SECURITIES PVT.LTD B 9950 31.00
20/1/2010 505506 Axon Infotech GHANSHYAM KAMLESH KACHHAWA S 3318 30.75
20/1/2010 505506 Axon Infotech YOGEETA KASHIRAM KADAM S 32520 30.50
20/1/2010 505506 Axon Infotech ANMOL FINANCE COMPANY S 10000 30.75
20/1/2010 505506 Axon Infotech ABSOLUTE LEASING & FINANCE PVT LTD S 34791 30.86
20/1/2010 505506 Axon Infotech CHIMANLAL MANEKLAL SECURITIES PVT.LTD S 9950 31.00
20/1/2010 531591 Bampsl Sec GIRRAJ PRASAD GUPTA B 367661 0.91
20/1/2010 531591 Bampsl Sec KAUSHALYA GARG S 750000 0.90
20/1/2010 532674 Bannari Amman Spg NAND KISHORE & CO S 200000 115.25
20/1/2010 532443 Cera Sanitary HITESH SHASHIKANT JHAVERI B 44792 246.06
20/1/2010 532443 Cera Sanitary HITESH SHASHIKANT JHAVERI S 37107 245.06
20/1/2010 532363 Compulearn SRECKO INDHAN LIMITED S 79834 25.89
20/1/2010 517973 DMC Intl CENTENARY SOFTWARE PVT LTD B 124968 26.46
20/1/2010 517973 DMC Intl CENTENARY SOFTWARE PVT LTD S 127302 26.50
20/1/2010 530337 Exelon Infra VIPUL VIRENDRAKUMAR PATEL B 45000 51.60
20/1/2010 530337 Exelon Infra ASHLESH GUNVANTBHAI SHAH B 45241 51.33
20/1/2010 530337 Exelon Infra PARESH RAMJIBHAI CHAUHAN B 60000 51.30
20/1/2010 530337 Exelon Infra OMPARKASH GUPTA B 30692 51.14
20/1/2010 530337 Exelon Infra KAMALA KANTA GUPTA S 40000 51.60
20/1/2010 530337 Exelon Infra OTMAL VAGLINGJI PUROHIT S 87856 52.15
20/1/2010 530337 Exelon Infra SRINIVASA RAO MARUPUDI S 100000 51.30
20/1/2010 530337 Exelon Infra OMPARKASH GUPTA S 39675 50.64
20/1/2010 530337 Exelon Infra GANESH KUMAR DHANUKA S 34822 49.00
20/1/2010 590024 Fert & Chem Trv TRANSGLOBAL SECURITIES LTD. B 133350 69.73
20/1/2010 590024 Fert & Chem Trv KHANDWALA TRADE LINK CO B 52383 68.76
20/1/2010 590024 Fert & Chem Trv MUKESH KUMAR BACHHAWAT B 38824 68.28
20/1/2010 590024 Fert & Chem Trv OPG SECURITIES P LTD B 56930 70.30
20/1/2010 590024 Fert & Chem Trv R B K SHARE BROKING LIMITED B 79181 69.13
20/1/2010 590024 Fert & Chem Trv BHARAT SECURITIES PVT LTD B 32077 69.02
20/1/2010 590024 Fert & Chem Trv MACY SECURITIES PRIVATE LIMITED B 31460 69.29
20/1/2010 590024 Fert & Chem Trv KAMAL KUMAR JALAN SEC. PVT. LTD B 31755 70.94
20/1/2010 590024 Fert & Chem Trv INVENTURE GROWTH & SECURITIES LTD. B 37608 69.67
20/1/2010 590024 Fert & Chem Trv TRANSGLOBAL SECURITIES LTD. S 123350 70.09
20/1/2010 590024 Fert & Chem Trv KHANDWALA TRADE LINK CO S 52393 68.17
20/1/2010 590024 Fert & Chem Trv MUKESH KUMAR BACHHAWAT S 38824 68.73
20/1/2010 590024 Fert & Chem Trv OPG SECURITIES P LTD S 56930 70.12
20/1/2010 590024 Fert & Chem Trv R B K SHARE BROKING LIMITED S 78481 68.13
20/1/2010 590024 Fert & Chem Trv HITESH SHASHIKANT JHAVERI S 97341 70.99
20/1/2010 590024 Fert & Chem Trv BHARAT SECURITIES PVT LTD S 32077 68.72
20/1/2010 590024 Fert & Chem Trv MACY SECURITIES PRIVATE LIMITED S 31460 69.93
20/1/2010 590024 Fert & Chem Trv KAMAL KUMAR JALAN SEC. PVT. LTD S 31755 70.55
20/1/2010 590024 Fert & Chem Trv INVENTURE GROWTH & SECURITIES LTD. S 37608 69.47
20/1/2010 590024 Fert & Chem Trv BP FINTRADE PRIVATE LIMITED S 35979 70.91
20/1/2010 514167 Ganesh Poly DEVPRAKASH YADAVA B 50000 42.05
20/1/2010 526951 Golden Lam NIKU MERCANTILE PVT.LTD B 37000 37.33
20/1/2010 504036 Hind Rectifiers SETU SECURITIES PVT LTD B 39586 82.17
20/1/2010 504036 Hind Rectifiers HITESH SHASHIKANT JHAVERI B 70035 82.20
20/1/2010 504036 Hind Rectifiers Naman Securities & Finance Pvt. Ltd. B 43692 80.10
20/1/2010 504036 Hind Rectifiers JMP SECURITIES PVT LTD B 70014 82.00
20/1/2010 504036 Hind Rectifiers BP FINTRADE PRIVATE LIMITED B 138763 80.60
20/1/2010 504036 Hind Rectifiers SETU SECURITIES PVT LTD S 38066 81.18
20/1/2010 504036 Hind Rectifiers Naman Securities & Finance Pvt. Ltd. S 61502 80.11
20/1/2010 504036 Hind Rectifiers JMP SECURITIES PVT LTD S 70014 81.42
20/1/2010 504036 Hind Rectifiers BP FINTRADE PRIVATE LIMITED S 138047 81.68
20/1/2010 500449 Hindustan Org TRANSGLOBAL SECURITIES LTD. B 459731 57.80
20/1/2010 500449 Hindustan Org TRANSGLOBAL SECURITIES LTD. S 457239 57.79
20/1/2010 511682 IFL Promoters CENTENARY SOFTWARE PVT LTD B 17200 12.30
20/1/2010 511682 IFL Promoters DMC INTERNATIONAL LTD B 15500 12.31
20/1/2010 511682 IFL Promoters CENTENARY SOFTWARE PVT LTD S 16250 12.31
20/1/2010 532658 Indo Asian Fuse PKR HITECH INDUSTRIAL COPORATION LLP B 230000 69.82
20/1/2010 532658 Indo Asian Fuse VPM INDUSTRIAL CORPORATION LLP S 230000 69.82
20/1/2010 523467 Jai Mata Glass GROWMORE PROPERTIES PVT LTD S 452403 2.70
20/1/2010 519248 JVL Agro Inds HITESH SHASHIKANT JHAVERI B 45011 137.50
20/1/2010 519248 JVL Agro Inds BP FINTRADE PRIVATE LIMITED B 41761 134.31
20/1/2010 519248 JVL Agro Inds BP FINTRADE PRIVATE LIMITED S 40761 136.34
20/1/2010 530255 KAY Power BAMPSL SECURITIES LTD. B 111910 15.51
20/1/2010 531602 Koffee Break SUNIL SHAH B 908911 3.11
20/1/2010 500264 Mafatlal Inds ELARA INDIA OPPORTUNITIES FUND LIMITED B 30190 155.80
20/1/2010 500264 Mafatlal Inds ANGEL INFIN PRIVATE LIMITED B 72479 145.95
20/1/2010 500264 Mafatlal Inds JMP SECURITIES PVT LTD B 25278 149.20
20/1/2010 500264 Mafatlal Inds ANGEL INFIN PRIVATE LIMITED S 66270 154.09
20/1/2010 500264 Mafatlal Inds JMP SECURITIES PVT LTD S 25278 153.60
20/1/2010 524138 Mahindra Compo Naman Securities & Finance Pvt. Ltd. B 27037 72.64
20/1/2010 530011 Mangalore Chem TRANSGLOBAL SECURITIES LTD. B 790833 27.20
20/1/2010 530011 Mangalore Chem TRANSGLOBAL SECURITIES LTD. S 790833 27.21
20/1/2010 517467 Marsons RATNAMANI MARKETING PRIVATE LIMITED B 125000 25.03
20/1/2010 517467 Marsons A T INVOFIN INDIA PVT LTD B 126499 25.32
20/1/2010 590111 MASTER N V R SURYA NARAYANA B 44000 58.12
20/1/2010 590111 MASTER P T N V AMBICA RAMASUDARSAN S 68700 58.15
20/1/2010 531453 Mohit Inds KALPESHBHAI VASUDEVBHAI PADHYA B 25000 26.42
20/1/2010 531096 Mount Everest Min JMP SECURITIES PVT LTD B 238770 96.38
20/1/2010 531096 Mount Everest Min JMP SECURITIES PVT LTD S 282274 93.08
20/1/2010 531996 Odyssey Corp REETA GUPTA B 29230 40.02
20/1/2010 531996 Odyssey Corp MOON ENTERPRISES PVT LTD S 26000 40.04
20/1/2010 531496 Omkar Overseas SAURABH KUMAR RASIKLAL GANDHI B 26000 52.80
20/1/2010 531496 Omkar Overseas SAMIR ROHITKUMAR SHAH S 26845 52.80
20/1/2010 531496 Omkar Overseas ALLIANCE CONSULTANCY S 40172 52.50
20/1/2010 532882 Omnitech Info PRIMORE SOLUTIONS PVT.LTD B 144918 190.22
20/1/2010 532882 Omnitech Info PRIMORE SOLUTIONS PVT.LTD S 102727 188.50
20/1/2010 511702 Parsharti Inv KRUPA SANJAY SONI B 16637 42.64
20/1/2010 517417 Patels Airtmp SUNIL SHAH B 50000 114.61
20/1/2010 517417 Patels Airtmp PARASMAL SURESHKUMAR B 30000 103.68
20/1/2010 517417 Patels Airtmp SUNIL SHAH S 30000 118.50
20/1/2010 517417 Patels Airtmp PARASMAL SURESHKUMAR S 30000 118.50
20/1/2010 517417 Patels Airtmp MEGHRAJ TECKCHANDANI S 30000 113.63
20/1/2010 517417 Patels Airtmp BULBUL AHMED S 131263 118.08
20/1/2010 517417 Patels Airtmp BISHAL JAIN S 25675 118.50
20/1/2010 517417 Patels Airtmp KIRAN RAVINDRA KUMAR CHOUDHARY S 30169 118.40
20/1/2010 531769 PFL Infotech KARISHMA DEELIPKUMAR KOTECHA B 45000 20.25
20/1/2010 531769 PFL Infotech ANKITA DEELIPKUMAR KOTECHA B 34915 20.25
20/1/2010 530047 Rai Saheb Rekh SHASHI DEVI BANGUR S 28608 101.15
20/1/2010 523523 Rainbow Papers ISHWAR MITTAL S 45314 121.26
20/1/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 51855 35.21
20/1/2010 590077 Ranklin Sol R O BART B 28020 60.67
20/1/2010 533083 RISHABHDEV MOHAN LAL AGARWAL B 244108 15.86
20/1/2010 533083 RISHABHDEV BHAVISH DHIRAJLAL KHAKHKHAR B 255483 15.66
20/1/2010 533083 RISHABHDEV MOHAN LAL AGARWAL S 244108 15.61
20/1/2010 533083 RISHABHDEV BHAVISH DHIRAJLAL KHAKHKHAR S 255483 15.50
20/1/2010 533083 RISHABHDEV SARSWATI VINCOM LTD S 268610 15.50
20/1/2010 530991 Roopa Inds STAR NIOCHEM PVT LTD B 54094 9.19
20/1/2010 531312 Sanraa Media JMP SECURITIES PVT LTD B 4523545 0.96
20/1/2010 526500 Sterling Green DAKSHESH KANTILAL DAVE S 22832 22.32
20/1/2010 512257 Swasti Vinay Gem ABHILASHA MONEY OPERATIONS PVT LTD B 473000 4.95
20/1/2010 512257 Swasti Vinay Gem ALKEN MANAGEMENT & FINANCIAL S B 1000000 4.95
20/1/2010 512257 Swasti Vinay Gem ASHIRWAD SHELTERS PVT. LTD. S 1500000 4.95
20/1/2010 533121 THINKSOFT CPR CAPITAL SERVICES LTD B 53987 457.09
20/1/2010 533121 THINKSOFT TRANSGLOBAL SECURITIES LTD. B 58726 456.51
20/1/2010 533121 THINKSOFT AMAR KANAIYALAL CHAUHAN B 64292 459.41
20/1/2010 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. B 167604 458.43
20/1/2010 533121 THINKSOFT CHANDARANA INTERMIDIARY BROKERS PVT LTD B 56601 456.02
20/1/2010 533121 THINKSOFT OPG SECURITIES P LTD B 101708 463.42
20/1/2010 533121 THINKSOFT CPR CAPITAL SERVICES LTD S 53987 456.11
20/1/2010 533121 THINKSOFT TRANSGLOBAL SECURITIES LTD. S 58726 454.53
20/1/2010 533121 THINKSOFT AMAR KANAIYALAL CHAUHAN S 64292 457.36
20/1/2010 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. S 167604 457.07
20/1/2010 533121 THINKSOFT CHANDARANA INTERMIDIARY BROKERS PVT LTD S 56601 455.06
20/1/2010 533121 THINKSOFT OPG SECURITIES P LTD S 101708 463.38
20/1/2010 531830 Todays Writing NAYAN DESAI VIRAJ B 104471 29.07
20/1/2010 531830 Todays Writing ANKITA VISHAL SHAH B 70528 29.85
20/1/2010 531830 Todays Writing NAYAN DESAI VIRAJ S 104471 29.51
20/1/2010 524264 Unimers India KALA HOLDINGS PRIVATE LIMITED B 100000 16.85
20/1/2010 521226 Uniroyal Inds KAVITA GOYAL S 48200 6.35
20/1/2010 531831 Unisys Soft CHITRAKUT HOLDING LTD. B 200000 32.67
20/1/2010 531831 Unisys Soft RAJRATH MERCHANTS P LTD B 150000 32.67
20/1/2010 531831 Unisys Soft MILANDEBI PRASAD MUKHERJEE S 300000 32.67
20/1/2010 531831 Unisys Soft JOHARPAL SINGH S 251569 32.67
20/1/2010 531831 Unisys Soft SAROJ KOTHARI S 235291 33.05
20/1/2010 532765 Usher Agro RUPA PRADIP SHAH B 115000 52.10
20/1/2010 511431 Vakrangee Soft HIGHPOINT TRADING COMPANY PRIV B 200000 77.47
20/1/2010 511431 Vakrangee Soft AZURA PROJECTS PRIVATE LIMITED S 120000 77.44
20/1/2010 530459 Valson Inds SANJAY VISHNUPRABHU GHATE S 22504 27.41
20/1/2010 519307 Vikas WSP JITENDER KUMAR S 936000 34.64
20/1/2010 507410 Walchandnagar SMART EQUITY BROKERS PRIVATE LIMITED B 224729 276.26
20/1/2010 507410 Walchandnagar OPG SECURITIES P LTD B 248404 273.69
20/1/2010 507410 Walchandnagar SMART EQUITY BROKERS PRIVATE LIMITED S 224729 276.57
20/1/2010 507410 Walchandnagar OPG SECURITIES P LTD S 248404 274.02
20/1/2010 531249 Well Pack Papers PANDYA YAMINIBEN M B 27296 412.50
20/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR B 37462 411.51
20/1/2010 531249 Well Pack Papers NAVNATH SAKHARAM GHONE B 24000 407.17
20/1/2010 531249 Well Pack Papers PANDYA YAMINIBEN M S 27365 413.63
20/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR S 40984 409.60
20/1/2010 530091 Zyden Gentec SAURABH KUMARRASIKLALGANDHI B 190317 2.90
* B - Buy, S - Sell
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
20-JAN-2010,AJANTPHARM,Ajanta Pharma Ltd,BP FINTRADE PRIVATE LIMITED,BUY,140436,140.09,-
20-JAN-2010,AJANTPHARM,Ajanta Pharma Ltd,RAHUL DOSHI,BUY,116901,141.06,-
20-JAN-2010,AJANTPHARM,Ajanta Pharma Ltd,SETU SECURITIES LTD,BUY,94557,141.54,-
20-JAN-2010,HOCL,Hindustan Org Chem Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,434570,57.72,-
20-JAN-2010,ITI,ITI Ltd.,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,110740,61.63,-
20-JAN-2010,ITI,ITI Ltd.,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,343532,61.58,-
20-JAN-2010,ITI,ITI Ltd.,OM INVESTMENTS,BUY,252895,61.80,-
20-JAN-2010,ITI,ITI Ltd.,TRANSGLOBAL SECURITIES LTD.,BUY,189765,61.57,-
20-JAN-2010,MADRASFERT,Madras Fertilizers Ltd,BP FINTRADE PRIVATE LIMITED,BUY,1285880,21.55,-
20-JAN-2010,MADRASFERT,Madras Fertilizers Ltd,JMP SECURITIES PVT LTD,BUY,1473148,21.55,-
20-JAN-2010,MADRASFERT,Madras Fertilizers Ltd,SETU SECURITIES LTD,BUY,933592,21.64,-
20-JAN-2010,MANGCHEFER,Mangalore Chemicals & Fer,TRANSGLOBAL SECURITIES LTD.,BUY,835611,27.26,-
20-JAN-2010,OMNITECH,Omnitech Infosolutions Li,ALFA FISCAL SERVICES PVT LTD,BUY,13368,187.32,-
20-JAN-2010,OMNITECH,Omnitech Infosolutions Li,PRIMORE SOLUTIONS PVT.LTD,BUY,222345,190.72,-
20-JAN-2010,SKUMARSYNF,S. Kumars Nationwide Ltd,MERRILL LYNCH CAPITAL MARKETS ESPANA S.A. SVB,BUY,1375000,47.60,-
20-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,192308,457.59,-
20-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,BP FINTRADE PRIVATE LIMITED,BUY,66287,459.83,-
20-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,CPR CAPITAL SERVICES LTD.,BUY,54267,457.99,-
20-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,66716,454.97,-
20-JAN-2010,TIDEWATER,Tide Water Oil Co. (India,ARION COMMERCIAL PVT LTD,BUY,20000,5155.34,-
20-JAN-2010,TODAYS,Todays Writing Products L,ANKITA VISHAL SHAH,BUY,162090,29.42,-
20-JAN-2010,VAKRANSOFT,Vakrangee Softwares Limit,RAMCHANDRA SHARMA,BUY,200000,77.13,-
20-JAN-2010,WALCHANNAG,Walchandnagar Ind. Ltd,BP FINTRADE PRIVATE LIMITED,BUY,250330,268.18,-
20-JAN-2010,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,1790551,20.74,-
20-JAN-2010,ZICOM,Zicom Electronic Security,EQUITY INTELLIGENCE INDIA PRIVATE LIMITED [P M S],BUY,125000,121.22,-
20-JAN-2010,AJANTPHARM,Ajanta Pharma Ltd,BP FINTRADE PRIVATE LIMITED,SELL,140432,140.15,-
20-JAN-2010,AJANTPHARM,Ajanta Pharma Ltd,RAHUL DOSHI,SELL,101901,141.27,-
20-JAN-2010,AJANTPHARM,Ajanta Pharma Ltd,SETU SECURITIES LTD,SELL,92050,141.59,-
20-JAN-2010,GRANULES,Granules India Limited,EUREKA CREDIT FINANCE PRIVATE LIMITED,SELL,125000,97.67,-
20-JAN-2010,HOCL,Hindustan Org Chem Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,445580,57.80,-
20-JAN-2010,ITI,ITI Ltd.,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,132237,62.04,-
20-JAN-2010,ITI,ITI Ltd.,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,355681,61.75,-
20-JAN-2010,ITI,ITI Ltd.,OM INVESTMENTS,SELL,252895,61.88,-
20-JAN-2010,ITI,ITI Ltd.,TRANSGLOBAL SECURITIES LTD.,SELL,189765,61.53,-
20-JAN-2010,MADRASFERT,Madras Fertilizers Ltd,BP FINTRADE PRIVATE LIMITED,SELL,1365870,21.54,-
20-JAN-2010,MADRASFERT,Madras Fertilizers Ltd,JMP SECURITIES PVT LTD,SELL,1494148,21.53,-
20-JAN-2010,MADRASFERT,Madras Fertilizers Ltd,SETU SECURITIES LTD,SELL,1003575,21.44,-
20-JAN-2010,MANGCHEFER,Mangalore Chemicals & Fer,TRANSGLOBAL SECURITIES LTD.,SELL,835611,27.26,-
20-JAN-2010,OMNITECH,Omnitech Infosolutions Li,ALFA FISCAL SERVICES PVT LTD,SELL,113468,194.10,-
20-JAN-2010,OMNITECH,Omnitech Infosolutions Li,PRIMORE SOLUTIONS PVT.LTD,SELL,124339,187.45,-
20-JAN-2010,SAKHTISUG,Sakthi Sugars Ltd.,Copthall Mauritius Investment Ltd,SELL,302012,92.22,-
20-JAN-2010,SUBEX,Subex Limited,MORGAN STANLEY MAURITIUS COMPANY LTD,SELL,367994,82.07,-
20-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,192308,459.14,-
20-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,BP FINTRADE PRIVATE LIMITED,SELL,67787,458.48,-
20-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,CPR CAPITAL SERVICES LTD.,SELL,54267,459.15,-
20-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,SUMTINATH SHARES AND SERVICES,SELL,54733,468.29,-
20-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,65916,456.97,-
20-JAN-2010,TIDEWATER,Tide Water Oil Co. (India,ARION COMMERCIAL PVT LTD,SELL,9920,5203.60,-
20-JAN-2010,TIDEWATER,Tide Water Oil Co. (India,MADANLAL LIMITED,SELL,14000,5151.56,-
20-JAN-2010,TIDEWATER,Tide Water Oil Co. (India,MANTU HOUSING PROJECTS LTD.,SELL,6000,5165.00,-
20-JAN-2010,TODAYS,Todays Writing Products L,ANKITA VISHAL SHAH,SELL,92090,29.52,-
20-JAN-2010,VAKRANSOFT,Vakrangee Softwares Limit,FREA STATIONERY PRIVATE LTD,SELL,121500,77.10,-
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Turnover rises
Nifty January 2010 futures were at 5214.55, at a discount of 7.15 points as compared to the spot closing of 5221.70. Turnover in NSE's futures & options (F&O) segment increased to Rs 65,565.50 crore from Rs 63,441.87 crore on Tuesday, 19 January 2010.
Tata Steel January 2010 futures were at discount at 650.30 compared to the spot closing of 652.
ICICI Bank January 2010 futures were near spot price at 874.40 compared to the spot closing of 874.80.
Housing Development & Infrastructure January 2010 futures were near spot price at 371 compared to the spot closing of 370.40.
In the cash market, the S&P CNX Nifty fell 3.95 points or 0.08% at 5,221.70.
The Sensex ended on a quiet note led by realty, oil & gas and PSU stocks, while teck, metal and auto stocks were marginally up. After a positive start, the Sensex slipped into red due to profit taking amid volatility. It continued to trade in the negative terrain as European market opened in red on concern that China, the driver of the global recovery, may rein in stimulus measures, overshadowed gains by health-care companies. Finally the index closed on a flat note after touching a high of 17,590.59 and low of 17,425.05.
Rising inflation was the main concern for the day and assurance came in from the Finance Minister who said that the government is taking all the necessary steps to contain inflation.
Asian stocks fell, dragging the MSCI Asia Pacific Index down for the third straight day, after regulators told some of China`s banks to limit lending. Finance and energy companies led the decline.
Indian equities continued to fall for the second day on Wednesday. At the close, the 30-share benchmark index, BSE Sensex ended flat with a decline of 11.57 points or 0.07% at 17,474.49, 18 components registering drop. while the broad based NSE Nifty closed flat with a decline of 3.95 points or 0.08%, at 5,221.70..
Sensex Movers
Oil & Natural Gas Corporation contributed fall of 19.98 points in the Sensex. It was followed by Reliance Industries (16.22 points), H D F C Bank (10.12 points), Sterlite Industries (India) (7.79 points) and Jaiprakash Associates (6.98 points).
However, I C I C I Bank contributed rise of 20.45 points in the Sensex. It was followed by Bharti Airtel (19.4 points), Tata Steel (12.76 points), Infosys Technologies (10.53 points) and Maruti Suzuki India (7.91 points).
Major gainers in the 30-share index were Bharti Airtel (3.41%), Maruti Suzuki India (2.62%), Tata Steel (2.49%), Hindalco Industries (1.78%), I C I C I Bank (1.59%), and Hindustan Unilever (0.98%).
On the other hand, Jaiprakash Associates (3.12%), Oil & Natural Gas Corporation (2.92%), Sterlite Industries (India) (1.79%), D L F (1.76%), Wipro (1.63%), and Reliance Capital (1.55%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Midcap settled lower -18.99 points or 0.27% at 7,026.92 however the BSE Smallcap gained 6.72 points or 0.07% at 8,982.81 at the closing.
The major losers in the BSE Midcap were Alstom Projects India (1.36%), A I A Engineering (1.2%), Reliance MediaWorks (0.76%), Ackruti City (0.74%) and Aban Offshore (0.46%).
The major gainers in the BSE Smallcap were Alembic (5.39%), Abhishek Industries (4.14%), A B G Shipyard (2.31%), Adhunik Metaliks (0.91%) and Ahluwalia Contracts (India) (0.03%).
Sectors in Limelight
The TECk index was at 3,390.08 up by 24.67 points or by 0.73%. The major gainers were Deccan Chronicle Holdings (5.37%), Dish TV India (3.73%), Bharti Airtel (3.41%), IBN18 Broadcast (3.36%) and Idea Cellular (0.69%).
The Metal index was at 17,937.12 up by 82.68 points or by 0.46%. The major gainers were Jai Corp (20%), Ispat Industries (1.81%), Hindalco Industries (1.78%), Jindal Steel & Power (1.39%) and Jindal Saw (0.58%).
The Auto index was at 7,549.06 up by 32.53 points or by 0.43%. The major gainers were Maruti Suzuki India (2.62%), Bajaj Auto (2.36%), Ashok Leyland (2.02%) and Hero Honda Motors (0.42%).
On the other hand, the Realty index was at 3,930.25 down by 76.66 points or by 1.91%. The major losers were Housing Development and Infrastructure (3.96%), Indiabulls Real Estate (2.04%), D L F (1.76%), Ansal Properties and Infrastructure (0.92%) and Ackruti City (0.74%).
Market Breadth
Market breadth was negative with 1,210 advances against 1,719 declines.
Value and Volume Toppers
Hindustan Copper topped the value chart on the BSE with a turnover of Rs. 2,749.73 million. It was followed by Havell`S India (Rs. 1,768.80 million), Jai Corp (Rs. 1,417.89 million) and Tata Steel (Rs. 1,387.78 million).
The volume chart was led by Cals Refineries with trades of over 24.67 million shares. It was followed by Rashtriya Chemicals & Fertilizers (13.10 million), Vikas Wsp (9.84 million) and Mangalore Chemicals & Fertilzers (8.83 million).
Result
Wipro slipped 1.63% to close at Rs 725.40 in spite of a strong Q3 performance. Wipro, India`s third largest software exporter, announced a rise of 21.27% in consolidated net profit for the quarter ended December 2009. During the quarter, the profit of the company rose to Rs 12.17 billion from Rs 10.04 billion in the same quarter previous year. The consolidated total income for the quarter rose 4.17% to Rs 70.56 billion, when compared with the prior year period.
BASF India announced a phenomenal rise in standalone net profit for the quarter ended December 2009. During the quarter, the profit of the company rose 27.44 times to Rs 112.50 million from Rs 4.10 million in the same quarter last year. Net sales for the quarter for the quarter surged 43.39% to Rs 2,881.90 million, while total income for the quarter jumped 43.39% to Rs 2,881.90 million, when compared with the prior year period.
South India based television broadcasting company, Sun TV Network, today announced results for the quarter ended on Dec.31, 2009. Its net profit after taxes registered a growth of 35.37% and stood at Rs 1,519.40 million for the quarter ended Dec. 31, 2009 as compared to Rs 1,122.40 million for the quarter ended Dec. 31, 2008. Total Income has increased 41.42% from Rs 2,852.70 million for the quarter ended Dec. 31, 2008 to Rs 4,034.30 million for the quarter ended Dec. 31, 2009.
India`s first and largest mortgage finance company, Housing Development Finance Corporation (HDFC) today announced results for the quarter ended on Dec.31, 2009. On standalone basis, it registered an increase of 22.75% in net profit after tax for the quarter ended December 31, 2009. It has posted a net profit after tax of Rs 6,712.50 million for the quarter ended December 31, 2009 as compared to Rs 5,468.30 million for the quarter ended December 31, 2008. Total income has decreased 5.56% from Rs 29,248.40 million for the quarter ended Dec. 31, 2008 to Rs 27,622.10 million for the quarter ended Dec. 31, 2009.
Dr Reddy`s Laboratories, a vertically integrated, global pharmaceutical company, today announced consolidated results for the quarter ended on Dec. 31, 2009. The group has posted a consolidated net loss, attributable to the shareholders of the parent, of Rs 2,330.70 million for the quarter ended Dec. 31, 2009 as compared to net profit Rs 1,591.60 million for the quarter ended Dec. 31, 2008. Total income has decreased 4.76% from Rs 18,552.80 million for the quarter ended Dec. 31, 2008 to Rs 17,670 million for the quarter ended Dec. 31, 2009.
Today's major news
Wipro Q3 net up by 21% to Rs1,217.4 crore; the stock closes 1.63% lower
HDIL Q3 net fall by 11.96%; the stock slides 3.96%
YES Bank Q3 net up 30%; the stock sheds 3.98%
Sun TV Q3 net jumps 35%; the stock shots up 10.25%
HDFC Q3 net up 22%; the stock rises 0.55%.
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Post-market summary
Global signals
European indices were trading marginally lower and at the time of writing of this report, FTSE 100 was trading at 5495, 0.32% lower.
All the major Asian indices closed in red except Kospi and Jakarta Composite that closed marginally higher. SGX Nifty closed 14 points lower.
US stock futures opened lower, as investors look forward to earnings of banking stocks.
Indian indices
On buoyant cues from overseas markets, the stock market back home opened higher and extended its gains in the morning trade. However, at noon, it erased all the gains and remained in red till closing. With the day’s high of 17590 and low of 17425 the Sensex closed at 17474, 12 points lower than its previous close. Nifty closed at 5222, 4 points lower than its yesterday’s close.
Sensex sentiment
Of the 2,981 stocks traded on the BSE, 1,699 stocks declined, whereas 1,212 stocks advanced. Seventy stocks closed unchanged.
Sectoral & stock screening
On listless trading almost all the 13 sector indices did not see much change and were up or down only marginally. BSE TECk stocks drew some investor interest with the sector witnessing a rise of 0.73%--the highest for any sector. BSE Realty, BSE Oil & Gas and BSE PSU all were down over 1% each.
On stocks front, Jai Corp surged the most by 20.00% followed by Sun TV that rose 10.25% and Areva T&D that jumped 7.18% up. Among losers, Rashtriya Chemicals and Fertilisers slid the most by 5.49% followed by Praj Industries that fell 4.88%.
Viewing volumes
On stock turnover front, over 1.31 crore shares of Rashtriya Chemicals and Fertilisers changed hands on the BSE followed by Ispat Industries (0.66 crore shares), India’s second largest realtor Unitech (0.59 crore shares), Jai Corp (0.49 crore shares) and wind turbine major Suzlon Energy (0.48 crore shares).
Liquidity fear drags Shanghai lower while Hang Seng, Nikkei, Sensex follows
Stock markets in Asian region extends losses on Wednesday, 20 January 2010, as selling gathered pace on reports that China had asked banks to stop lending for the rest of January. Fears over a bank lending halt in China overshadowed a strong lead overnight from Wall Street as Asian shares saw mixed trade, while worries over the European economy hit the euro.
On Wall Street, stock markets witnessed strong rally on Tuesday, thanks to the healthcare, technology, and material sectors, Strong earning reports managed to boost stocks. Though stocks made a shaky start at the start of the day, they gained momentum amid some major corporate news in the market. Stocks gained in the face of strong dollar.
At the end of the day, the Dow Jones Industrial Average ended higher by 115.78 points at 10,725.43. Nasdaq ended higher by 32.41 points at 2320.4. S&P 500 ended higher by 14.2 points at 1150.23. Earlier in the day, Dow opened the session higher by 42 points.
In the commodity market, crude oil dropped to its lowest this year in New York on speculation global stockpiles remain more than adequate and as a stronger dollar dampened hedging demand.
Crude oil for February delivery fell as much as 93 cents, or 1.2%, to $77.07 a barrel in electronic trading on the New York Mercantile Exchange, the lowest since 24 December 2009. It traded for $77.64 a barrel, 36 cents lower as of 1:32 p.m. London time.
Brent crude oil for March settlement fell as much as $1.28, or 1.7%, to $75.82 a barrel on the London-based ICE Futures Europe exchange. It traded for $76.29 as of 1:33 p.m. London time.
Gold dropped for the first time in three days in London as a stronger dollar eroded demand for the precious metal as a store of value. Gold for immediate delivery lost $6.38, or 0.6%, to $1,131.82 an ounce at 9:07 a.m. London time. Bullion for February delivery was 0.7% lower at $1,131.80 on the New York Mercantile Exchange’s Comex division.
In the currency market, the U.S. dollar held on to early gains against the euro but was about unchanged against the yen in late Asian trade, as risk aversion slammed the Euro and as concerns about China's efforts to curb lending further dragged sentiment.
The Japanese yen strengthened against greenback on Wednesday. Japan’s currency was quoted at 90.936 per US dollar on Wednesday from yesterday quote at Y91.14 per dollar in New York.
The Hong Kong dollar was trading at HK$ 7.7662 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 trades, the Australian dollar fell almost a cent on Wednesday as China took fresh action to dampen bank lending there, while a slide in the Euro gave a boost to the US dollar. At the local close, the dollar was trading at $US0.9163, down from $US0.9247 late in New York and under chart support at $US0.9170.
In Wellington trades, the New Zealand dollar plunged more than a US cent today after the Consumer Price Index (CPI) for the December quarter was lower than expected and after China was reported to be constraining bank lending. The NZ dollar fell from around US74c to US73.50c after the CPI was reported to have fallen 0.2% in the December quarter to put the annual rate at 2%. The NZ dollar was US72.95c at 5pm from US73.91c at 8 am, and US83.84c at 5pm yesterday.
The South Korean won closed at 1138.20 won to the greenback, down from Tuesday 1127.50 won.
The Taiwan dollar weakened against the greenback. The Taiwan dollar was trading lower against the US dollar at NT$ 31.8360, 0.0360 down from Tuesday's close of NT$31.8000.
In equities, most Asian markets ended lower, as concerns China may step up its tightening measures to cool a rapidly growing economy hit banking and resource shares hard. Several other regional markets also reversed direction or pared early gains made after a strong finish on Wall Street, after the Chinese banking regulator said the nation's banks were expected to make fewer loans this year than in 2009.
In Japan, the share market gave up steam in afternoon trade to extended losing streak for third consecutive day, after reports that Chinese regulators have urged some of its nation’s banks to limit lending spooked investors and wariness ahead of U.S. and Japanese corporate earnings reports.
At the closing bell, the Nikkei 225 Stock Average index was at 10,737.52, dropped 27.38 points or 0.25%, while the broader Topix of all First Section issues on the Tokyo Stock Exchange fell 5.04 points, or 0.53%, to 944.72.
In Mainland China, the stock market dived first time in five trading days after reports that some Chinese banks have been ordered to curb lending spooked local investors, pushing benchmark Shanghai index to 2.9% lower on broad based selling across the sectors. Market players securing gains on speculation Beijing will withdraw stimulus measures to prevent the nation from overheating.
Financials shares tanked after Chinese banking authorities order some banks to stop all lending, including short-term bills, for the rest of the month. Materials and resources and energy stocks dived on renewed concerns over tighter controls on lending growth. Trading firms surrendered yesterday rally after Shanghai denied the rumor that it allow individual overseas investment plan.
Premier Wen Jiabao also indicated "relatively loose monetary policy" in a speech yesterday, hinting at a possible exit of the stimulus measures. He added that China would manage the pace of extending loans to prevent financial risks.
At the end of trade, the Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, stumbled 95.02 points, or 2.93%, to 3,151.85, while the Shenzhen Component Index on the smaller Shenzhen Stock Exchange has lost 434.52 points, or 3.25%, to 12,916.15. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, dropped 3.19%, to 3,395.44
In Hong Kong, the benchmark index dropped on broad based sell off across the sector after Chinese banks were urged to contain lending to tackle bad loans. According to reports, some Chinese banks have been told to stop all lending for the remainder of the month after a burst of credit in the first couple of weeks. Financials and properties tanked after Chinese banking authorities order some banks to stop all lending, including short-term bills, for the rest of the month. Materials and resources dived after lower commodities prices on renewed concerns over tighter controls on lending growth. Energy stocks dived amid expectations of a dismal US crude inventory report.
At the end of session, the Hang Seng Index retracted 391.81 points, or 1.81%, to 21,286.17, while the Hang Seng China Enterprise, which tracks the overall performance of 43 mainland Chinese state-owned enterprises on the Hong Kong Stock Exchange, melted 318.67 points, or 2.53%, to 12,282.09.
In Australia, the share market eroded most of morning gains to finish the session slightly above the gains line, on reports that Chinese regulators told some of the nation’s banks to limit lending and the China signaled it will rein in stimulus measures. At the closing bell, the benchmark S&P/ASX200 index was up 7.0 points, or 0.14%, to 4,868.20, meanwhile the broader All Ordinaries added 5.50 points, or 0.11%, to 4,895.10.
On the economy front, the Westpac-Melbourne Institute index of consumer sentiment increased by 5.6% to 120.1 points in January, from 113.8 in December. The increase reverses declines in both November and December and is now 33% higher than a year ago.
In New Zealand, equities continue to hover in the negative terrain, registering a flat end after declining by almost 20 points yesterday. Strong gains in the United States and European stock markets appeared to make little early impression on the New Zealand share market which managed to just edge ahead in the first few minutes after opening.
At the closing today, the NZX 50 edged down 0.01% or 0.34 points to 3227.25. Meanwhile, the NZX 15 lost 0.14% or 7.9 points to close at 5820.47, losing for the eighth day in a row.
On the economic front, lower food prices in New Zealand helped drive the Consumers Price Index (CPI) down 0.2% in the December quarter. The quarterly decrease, which was also a result of weaker price increases for goods and services, contributed to an annual CPI increase of 2%. Food prices were 2.4% lower during the quarter, lead down by vegetable prices, which decreased by 17.6%, significantly lower than their winter price peaks. Meat, poultry, fish and groceries were also down.
In South Korea, stocks finished higher as investors stepped up bargain hunting. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 4.16 points to end at 1,714.38, erasing losses in the previous session.
On the economic front, South Korea’s trade surplus touched an all-time high of US$40.4 billion last year thanks to a soft local currency and low oil prices. Exports fell 13.9% in 2009 from a year ago to $363.5 billion won, and imports slipped 25.8% to $323.1 billion.
In Singapore, fears over a bank lending halt in China and European economy weighed down the Singapore share lower, despite a strong lead from Wall Street overnight. Banks and properties were lower on concerns over possibly more credit tightening in China and wariness ahead of US and Singapore corporate earnings reports, while worries about Chinese lending squeeze and European economy taking toll on manufacturing and multi-industries shares. At the closing bell, the blue chip Straits Times Index was at 2,893.13, slipped 19.79 points or 0.68%.
In Taiwan, stock market in Taiwan extended losses for the third session on Wednesday, 20 January 2010, dragged by tech heavyweights such as Acer on concerns that the stocks had been overbought after recent gains fuelled by hopes of growing tech demand. The benchmark Taiex share index extended loses to third session, as the index finished day lower by 28.07 points or 0.34% at 8220.93.
On the economic front, following the effort to mop up excessive supply of credit in the market, the Central Bank of Republic of China (Taiwan) has started to jack up market interest rates, a reflection of its gradual shift to a tighter monetary policy.
On Tuesday, the Central Bank of Republic of China absorbed interbank overnight call loans at 0.12% interest rate, via major banks, inducing the average rate for such loans in the market to go up to 0.118%, a nine-month high, up 0.008 of a percentage point. Thanks to the active involvement of the CBC, the outstanding amount of call loans has expanded to NT$250-350 billion, from NT$150 billion previously, with the rate having bounced back from the nadir of 0.095% to 0.118%.
In Philippines, the stock market closed flat, with the market struggling to hold higher as investors remained cautious despite a positive close on Wall Street overnight. The benchmark index PSEi lost 0.02% or 0.71 points to 3,083.86, while the All Shares index tumbled 0.08% or 1.61 points to 1,930.62.
In India, key benchmark indices ended a choppy trading session lower as weak global stocks weighed on investor sentiment. Realty, health care, PSU, FMCG, oil exploration and PSU OMCs stocks fell. But metal stocks rose. The market breadth was weak. The BSE 30-share Sensex was down 11.57 points or 0.07% to 17,474.49. The S&P CNX Nifty was down 3.95 points or 0.08% to 5221.70.
Elsewhere, Malaysia’s Kula Lumpur Composite index finished slightly higher at 1306.62 while stock markets in Indonesia’s Jakarta Composite index inched up by 1.20 points ending the day higher at 2667.27.
In other regional market, European shares weakened in early trading on Wednesday, with negative broker comment weighing on the auto sector and banks lower as investors brace for more results from major U.S. lenders. The German DAX index lost 0.45% or 26.63 points to 5,950, the French CAC-40 index declined 0.44% or 17.67 points to 3992 and the U.K. FTSE 100 index slipped 0.57% or 31.60 points to 5,482
Gets bids for 60.16 crore shares as against 1.96 crore shares on offer
The initial public offer (IPO) of fast-food chain Jubilant Foodworks was oversubscribed 30.68 times, as at 16:00 IST on the final day of the issue on Wednesday, 20 January 2010, National Stock Exchange data showed. The IPO received bids for 60.16 crore shares as against 1.96 crore shares on offer. The IPO had opened for subscription on 18 January 2010.
On 15 January 2010, Jubilant Foodworks said it received bids for 30.6 lakh shares at Rs 145 per share towards the anchor investor portion of the offer. The anchor investors to whom equity shares have been allocated pursuant to the offer include Arisaig Partners, Blackrock, Canara Robeco Mutual Fund, Fidelity, Franklin Templeton, HSBC, Reliance Mutual Fund, SBI Mutual Fund, T Rowe Price and Ward Ferry.
At the issue price of Rs 135-145, on the EPS of Rs 1.1 for FY 2009, the PE works out to 123 to 132 times. However, the PE based on annualized EPS of Rs 3.8 for the six months ended September 2009, works out to 35 to 38 times.
Jubilant Foodworks is offering 2.26 crore equity shares aggregating to approximately Rs 328.72 crore at upper end of the price band and Rs 306.05 crore at the lower end of the price band. The company has fixed an IPO price band of Rs 135-145 per share.
The public offering will include a fresh issue of 40 lakh shares and an offer for sale of more than 1.86 crore shares by India Private Equity Fund (Mauritius) and Indocean Pizza Holding.
Jubilant Foodworks, the exclusive franchisee for Domino's Pizza chain in India, plans to use the funds to prepay term loans and for other general corporate purposes.
The company currently operates over 280 Domino's Pizza outlets across 59 cities in the country. It also has five outlets through sub-franchisee in Sri Lanka and is looking at establishing presence in Nepal and Bangladesh.
The key benchmark indices ended a choppy trading session lower, extending losses for the second straight day as weak global stocks weighed on investor sentiment. The BSE 30-share Sensex fell 11.57 points or 0.07%, off close to 115 points from the day's high and up close to 50 points from the day's low. Realty, health care, PSU, FMCG, oil exploration and PSU OMC stocks fell. But metal stocks rose. The market breadth was weak. The Sensex had lost 155.02 points or 0.88% to 17,486.06 on Tuesday, 19 January 2010.
Coming back to today's trade, the market was volatile. Stocks surged at the onset of the trading session tracking overnight rally in US stocks. It pared gains later. The market came off the lower level later in mid-morning trade. The market regained positive terrain after slipping into the red for a brief period in early afternoon trade. The market moved between positive and negative zone later. It slumped to hit fresh intraday low in mid-afternoon trade. The market cut losses later in volatile trade.
Finance minister Pranab Mukherjee said on Wednesday the government was taking steps to contain inflation. The situation is constantly under review, he said.
Food prices will cool off in 1-2 months and inflation will turn around, finance ministry's chief economic advisor Kaushik Basu said in a newspaper interview published on Wednesday. The Reserve Bank of India will hold its quarterly monetary policy review on 29 January 2010 and is widely expected to increase the cash reserve ratio (CRR) requirements for banks, but economists are divided on when it will raise interest rates. CRR is the level of cash that banks must keep in deposit with the central bank. Food prices rose near 20% in December from a year earlier, their highest in 11 years.
Monthly inflation may touch double digits by March 2010, Chief Statistician Pronab Sen told Television media on Tuesday. The wholesale price index rose to 7.31% in December from a year earlier, driven by higher food prices.
Economic growth will accelerate this year, Commerce and Industry Minister Anand Sharma said on Tuesday as he demanded better access to China's markets to help exports. Sharma's call for greater access for goods comes amid a widening trade gap between the two countries. Trade between the two grew rapidly to $50 billion in 2008, making China India's second-largest trading partner, but fell back to $43 billion in 2009 as global trade declined. Sharma called for more Chinese direct investment in India, especially in infrastructure, while noting that Indian firms are already present in China.
The Reserve Bank of India (RBI) on Tuesday allowed the introduction of currency futures in euro, yen and pound sterling, a move would improve liquidity in the derivatives market.
Meanwhile, the initial public offer (IPO) of fast-food chain Jubilant Foodworks was subscribed 30.68 times by 16:00 IST today. The company has fixed IPO price band of Rs 135-Rs 145 per share. Today is the last day of bidding for the IPO
European shares fell on Wednesday on mounting concerns about bank lending restrictions in China. The key benchmark indices in Germany, France and UK fell by between 0.23% to 0.37%
Most Asian markets ended lower Wednesday, as concerns China may step up its tightening measures to cool a rapidly growing economy hit banking and resource shares hard. The key benchmark indices in Singapore, Japan, Taiwan, China, Hong Kong fell by between 0.25% to 2.93%. The Shanghai Composite index was the biggest loser in the region with a near 3% fall. But, key benchmark indices in South Korea and Indonesia rose by between 0.04% to 0.24%.
China's banking regulator said the nation's banks were expected to make fewer loans this year than in 2009. China's top banking regulator Liu Mingkang said Chinese banks were expected to issue about 7.5 trillion yuan ($1.1 trillion) in new loans in 2010 compared to 9.59 trillion yuan in 2009, reflecting efforts to rein in bank lending which nearly doubled last year
US index futures fell as Republican Scott Brown's Massachusetts Senate seat election victory raised concerns over the political and economic outlook in the US. Trading in US index futures indicated the Dow could fall 42 points at the opening bell on Wednesday, 20 January 2010. Brown's victory is seen as dealing a blow to President Barack Obama's legislative plan, including any further needed stimulus down the road, as the Democrats would no longer have 60 seats in Senate, which is needed to block filibusters and get bills enacted.
After an extended weekend, US stocks opened the week on an encouraging note on Tuesday 19 January 2010. Stocks rose to fresh 15-month highs led by healthcare stocks as a key senate-seat vote in Massachusetts on Wednesday could change the course of healthcare reforms. Technology stocks got a boost from anticipation of strong earnings from IBM. IBM's results which were out after the bell were well ahead of expectations. In other earnings, Citigroup hit its earnings target but missed on revenue.
The Dow gained 115.78 points, or 1.1%, to 10,725.43. The Standard & Poor's 500 index added 14.20 points, or 1.3%, to 1,150.23. The Nasdaq composite index rose 32.41 points, or 1.4%, to 2,320.40 on Tuesday.
The world's economy is recovering more strongly than expected and the projected growth rate in 2010 is likely to beat the forecast 3%, Dominique Strauss-Kahn, the head of the International Monetary Fund, said on Wednesday. But he said the recovery was patchy and various regions were rebounding at a varying pace.
Unemployment rates will likely peak in most US cities in 2010, but it will be many more years before jobless rates hit their lows of the last decade, a report released by a US mayors group shows. In some areas, such as California's central valley and cities in Nevada, unemployment rates will stay at or above 10% through 2013, according to the report published on Wednesday by the US Conference of Mayors and research group Global Insight. The mayors group released the report a day ahead of a meeting with US President Barack Obama in which it will seek federal financial aid for small and large cities.
Closer home, the BSE 30-share Sensex fell 11.57 points or 0.07% to 17,474.49. At the day's high of 17,590.59, the Sensex rose 104.53 points at the onset of the trading session. The Sensex fell 61.01 points at the day's low of 17,425.05 in mid- afternoon trade.
The S&P CNX Nifty fell 3.95 points or 0.08% to 5221.70. Nifty January 2010 futures were at 5,214.55, at a discount of 7.15 points as compared to the spot closing of 5,221.70. Turnover in NSE's futures & options (F&O) segment increased to Rs 65565.50 crore from Rs 63,441.87 crore on Tuesday, 19 January 2010.
The market breadth, indicating the overall health of the market, was weak. The breadth was strong earlier in the day. On BSE, 1707 shares declined compared with 1199 that advanced. The remaining 62 stocks remained unchanged.
The BSE Mid-Cap index fell 0.2% and underperformed Sensex. The BSE Small-Cap index rose 0.07% and outperformed Sensex
Secotoral indices on BSE were mixed. BSE Metal index (up 0.46%), BSE Auto index (up 0.43%), BSE Power index (up 0.21%), BSE Capital Goods index (up 0.17%), and BSE IT index (up 0.14%) outperformed the Sensex. The banking sector index Bankex ended flat for the day, outperforming the Sensex which fell 0.07%.
BSE Realty index (down 1.91%), BSE Oil & Gas index (down 1.31%), BSE PSU index (down 1.25%), BSE FMCG index (down 0.29%), BSE Healthcare index (down 0.18%), and BSE Consumer Durables index (down 0.11%), underperformed the Sensex.
Among the 30-member Sensex pack, 12 rose while the rest fell
BSE clocked a turnover of Rs 6157 crore, lower than Rs 6376.80 crore on Tuesday, 19 January 2010.
India's largest mortgage lender by total income HDFC rose 0.55% as net profit jumped 22.75% to Rs 671.25 crore in Q3 December 2009 over Q3 December 2008. The results were announced during market hours today.
Index heavyweight Reliance Industries (RIL) fell 0.69%. RIL last week raised $763 million through a block sale of 3.3 crore shares. RIL, which is bidding for bankrupt LyondellBasell Industries, had previously sold treasury shares to state-owned insurer Life Insurance Corp of India raising $577 million. As per reports last week, RIL had sweetened its offer to buy a controlling stake that valued LyondellBasell at $13.5 billion. RIL will announce its Q3 result on Friday, 22 January 2010.
State-run oil marketing stocks declined on reports the Government has no plans to raise fuel prices as of now. HPCL (down 3.74%), BPCL (down 4.5%), and Indian Oil Corporation (down 2.06%), edged lower.
With global crude prices hovering near $80 per barrel a hike in crude oil price was imminent, reports added. Accordingly, the matter is to be considered next month, based on the recommendations of Kirit Parikh Committee.
Meanwhile, the government has announced Rs 12,000 crore in cash as compensation for the losses incurred by oil-refining companies. But the compensation was insufficient to offset the loss on the sale of subsidized cooking gas and kerosene alone for April-December last year.
Oil exploration stocks declined on decline in crude oil prices. Oil India (down 0.87%), ONGC (down 2.92%), and Cairn India (down 0.74%), slipped.
Fall in crude oil prices will result in lower realisation from crude sales for oil exploration firms. Crude oil for February 2010 delivery fell as much as 65 cents, or 0.8%, to $78.37 a barrel on concerns China may step up efforts to curb credit growth
Metal stocks rose after LMEX, a gauge of six metals traded on the London Metal Exchange, rose 0.35% on Tuesday, 20 January 2010. Steel Authority of India, Hindalco Industries, Jindal Steel & Power, rose by between 1.39% to 2%.
Tata Steel, the world's eighth-largest steelmaker rose 2.49%. The company said on 5 January 2010 sales from its Indian operations rose 73% in December 2009 to 636,000 tonnes from a year earlier. 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
But, JSW Steel fell 0.19%. The company today reported net profit of Rs 54.23 crore in Q3 December 2009 compared to a net loss of Rs 127.50 crore in Q3 December 2008.
Rate sensitive realty stocks fell on reports the finance ministry has rejected a proposal by the Department of Industrial Policy and Promotion (DIPP) that had suggested dropping the mandatory three-year lock-in for foreign direct investment in the real estate sector, affecting the prospects of the sector raising funds from overseas.
Unitech, Omaxe, Indiabulls Real Estate, Phoenix Mills fell by between 0.23% to 2.87%.
India's largest realty player by market capitalization DLF fell 1.76%. DLF has reportedly decided to exit from its mutual fund venture, DLF Pramerica Mutual Fund, by selling its entire stake to the overseas partner in the venture, the US-based Prudential Financial, as the company seeks to focus on its core business. Prudential Financial (PFI) is expected to buy DLF's 39% stake in the asset management company that is yet to start operations.
India's largest drugmaker by sales Ranbaxy Laboratories fell 1.92%. The company on Tuesday signed an agreement to acquire product rights and manufacturing facility of Bangalore-based Biovel Lifesciences, for an undisclosed sum.
Among other healthcare stocks, Piramal HealthCare, Biocon, Sun Pharmaceutical Industries fell by between 0.45% to 3.2%.
Dr Reddy's Laboratories rose 1.76% as net profit rose 62.45% to Rs 168.42 crore in Q3 December 2009 over Q3 December 2008. The company announced the result during market hours today.
FMCG stocks fell on profit taking. ITC, Dabur India, United Spirits, Tata Tea fell by between 0.76% to 1.24%.
Shares of consumer durable also fell on profit taking. Videocon Industries, Gitanjali Gems, Asian Star Company, Blue Star fell by between 1.1% to 3.36% .
India's largest power equipment maker by sales Bharat Heavy Electricals (Bhel) was flat. Analysts expect strong Q3 December 2009 results from Bhel, helped by large order book and stable execution. The profitability is likely to surge on the back of increased volumes and lower-cost inventory being used.
A total of seven brokerages expect a between 29% to 47.7% growth in Bhel's net profit at between Rs 1016.90 crore to Rs 1167.60 crore in Q3 December 2009 over Q3 December 2008. Bhel had reported net profit of Rs 790.60 crore in Q3 December 2008. Bhel announces Q3 results on Thursday, 21 January 2010.
India's largest engineering & construction firm by sales Larsen & Toubro (L&T) fell 0.45%. L&T will reportedly invest around Rs 25000 crore to build its thermal power business in the next five years. L&T Power, the wholly-owned subsidiary of L&T, will have a generation capacity of 5,500 megawatts (MW), including hydro power, by 2015. The company will announce its Q3 result on Thursday, 21 January 2010.
The company said recently it has received contracts worth Rs 2,325 crore for commercial and residential construction in Maharashtra, Gujarat, West Bengal and Chandigarh
Among other capital goods stocks, Thermax, BEML, Praj Industries fell by between 0.38% to 4.88%.
Most Auto stocks rose on expectation of good Q3 result. India's largest car maker by sales Maruti Suzuki rose 2.62%. The company said on Saturday 16 January 2010 it has raised the prices of some of its models to recover the rise in input costs. It said the price increases, effective immediately, varied from 0.12% to 1.9% with an average price rise of 0.6%. There was no increase in prices of its recently launched five-seater multipurpose vehicle Eeco, the petrol version of its Swift hatchback and its Gypsy utility vehicles, it said in its statemen. "For some models the increase in the costs are being absorbed by the company, in the light of market situation," it said. Maruti, in which Japan's Suzuki Corp has a 54.2% stake, sells one of every two cars in India.
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.
Tata Motors, India's largest commercial vehicle maker by sales, was flat. The company said on Friday 15 January 2010 it sold 74,707 vehicles globally in December 2009, a rise of 84 % from a year earlier. This included sales of Jaguar and Land Rover, which rose 33% from a year earlier to 21,134 vehicles, it said in a statement.
Bajaj Auto rose 2.36% extending gains for the forth day in a row. Net profit surged 189.20% to Rs 507.29 crore on 57.9% spurt in net sales to Rs 3165.84 crore in Q3 December 2009 over Q3 December 2008. The company announced the result after market hours on Tuesday, 12 January 2010. TVS Motor Company rose 2.84%.
India's largest motorcycle maker by sales Hero Honda Motors rose 0.62%. Hero Honda will comfortably exceed its fiscal 2009/10 sales target of 40 lakh units, its managing director Pawan Munjal said to media on 7 January 2010. Sales jumped 74% to 375,838 units in December 2009 over December 2008.
TVS Motor Company rose 1.29% after it reported net profit of Rs 23.53 crore in Q3 December 2009 compared to a net loss of Rs 0.95 crore in Q3 December 2008.
But, India's top truck maker by sales India's largest tractor marker by sales Mahindra & Mahindra (M&M) fell 1.23%. M&M marked its entry 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.
Power stocks rose after the power minister said government will float request for qualification for 2 ultra mega power projects in 15 days. NTPC, India's largest utility by sales, rose 0.79% snapping last two days losses. The government may reportedly raise as much as Rs 10,300 crore by selling 5% of NTPC, a valuation more than four times at which it first sold shares in 2004, reflecting the soaring demand of the state-run company. NTPC shares in the follow-on offer may be priced between Rs 245 and Rs 250 apiece.
The empowered group of ministers (EGoM) headed by finance minister Pranab Mukherjee will meet on 1 February 2010 to approve the price, reports said. Meanwhile, NTPC reportedly plans to set up a new entity for acquiring coal assets abroad to secure fuel supplies for its coal-based plants. A proposal in this regard is likely to be moved before the company's board soon.
Tata Power Company rose 0.1% as net profit jumped 40.37% to Rs 141.89 crore in Q3 December 2009 over Q3 December 2008. The company announced the result during market hours on Tuesday.
Telecom stocks rose on reports the latest policy flip-flop by the Department of Telecom (DoT) could drive away foreign players from the upcoming 3G auctions by denying them a fair chance of getting 2G spectrum, vital for offering a full complement of telecom services. Absence of foreign players means Indian bidders could get the scarce airwaves for less. India's largest mobile services provider by sales Bharti Airtel rose 3.41%. The company will announce its Q3 result on Friday, 22 January 2010.
India's second largest mobile services provider by sales Reliance Communications rose 0.24%.
Banking stocks fell on profit taking. India's largest bank by net profit and branch network State Bank of India fell 0.61% Non-performing loans (NPAs) in the small and medium enterprise sector (SME) are on the rise, chairman O.P Bhatt said recently. The state-run bank paid advance tax of Rs 1795 crore versus Rs 1700 crore.
India's largest private sector bank by operating income HDFC Bank fell 1.21% on profit taking after recent rally. The bank's net profit jumped 31.6% to Rs 818.50 crore on 5.4% growth in net total income to Rs 3076.90 crore in Q3 December 2009 over Q3 December 2008. The result exceeded market expectations. Its ADR rose 7.74% on Tuesday. The bank announced the result during market hours on Friday, 15 January 2010.
But, India's largest private sector bank by net profit ICICI Bank rose 1.59% extending recent gains. Its ADR jumped 5.39% on Tuesday. The bank will announce its Q3 result on Thursday, 21 January 2010.
After a significant moderation in systems loan growth during the period October-December 2009, the banking system credit growth has gradually started gaining momentum, as per the latest RBI data
IT stocks fell on profit taking after recent strong gains after robust result from Tata Consultancy Services and Infosys. India's third largest software services exporter Wipro dipped 1.63% on profit booking after hitting s 52-week high of Rs 753 in intra-day trade today. The company's consolidated net profit rose 21.26% to Rs 1217.40 crore on 4.17% rise in total income to Rs 7055.80 crore in Q3 December 2009 over Q3 December 2008. The company announced the results before trading hours today, 20 January 2010.
Wipro maintained margins during the December quarter despite a fall in rate realisations and a stronger rupee, the company said on Thursday. Chief Financial Officer Suresh Senapaty said in a statement that the key financial services sector had bounced back on the back of strong outsourcing demand. Its ADR rose 4.64% on Tuesday.
India's largest IT exporter by sales Tata Consultancy Services fell 0.25%. Consolidated net profit as per US accounting standard rose 11% to Rs 1822.20 basis crore on 3% growth in sales to Rs 7650.30 crore in Q3 December 2009 over Q2 September 2009. The third quarter earnings surpassed market estimates as demand for outsourcing surged and prices stabilised, fuelling hopes of recovery in the showpiece sector. The company announced the results after trading hours on Friday, 15 January 2010
But, IT bellwether Infosys rose 0.62% as its ADR rose 1% on Tuesday. Infosys, last week, raised its full-year revenue and profit outlook after strong Q3 results and on improving trend for outsourcing orders. The company's consolidated net profit as per Indian accounting standards rose 2.72% to Rs 1582 crore on 2.8% rise in consolidated revenue to Rs 5741 crore in Q3 December 2009 over Q2 September 2009. The company announced result on Tuesday 12 January 2010.
Infosys has raised earnings and revenue guidance for the year ending March 2010 (FY 2010) both in rupee and dollar terms. Infosys has forecast a 1.8% to 2% growth in consolidated dollar revenue for FY 2010 compared from a drop it had projected at the time of announcing Q2 September 2009 results. Infosys said FY 2010 consolidated revenue in dollar terms could rise to $4.75 billion to $4.76 billion, from $4.6 billion to $4.62 billion forecast earlier. The consolidated earnings per American depository share for the full year is seen rising 0.4% to $2.26, the company said in a statement.
Some PSU stocks fell on profit taking. State Trading Corporation of India, MTNL, Bharat Electronics, Chennai Petroleum Corporation, Power Finance Corporation fell by between 0.37% to 5.07%.
Cals Refineries clocked the highest volume of 2.46 crore shares on BSE. Rashtriya Chemicals & Fertiliser (1.31 crore shares), Vikas Wsp (0.98 crore shares), Mangalore Chemicals & Fertiliser (0.88 crore shares) and Birla Cotsyn (0.84 crore shares) were the other volume toppers in that order.
Hindustan Copper clocked the highest turnover of Rs 275.02 crore on BSE. Havells India (Rs 176.91 crore), Jai Corp (Rs 141..79 crore), Tata Steel (Rs 138.78 crore) and Rashtriya Chemicals & Fertiliser (Rs 138.77 crore) were the other turnover toppers in that order.
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