Precious metals turn pale

Strong dollar and higher US stocks pushed bullion metal prices lower
Precious metal prices ended substantially lower on Wednesday, 02 June 2010 at Comex. Stronger dollar and higher US stocks pushed back bullion metal prices.
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 August delivery ended at $1,222.6 an ounce, lower by $4.3 (0.4%) an ounce on the New York Mercantile Exchange. Prices dropped by almost 1% during intra day trading. Prices had touched an all time high of $1,249.7 on 14 May 2010. Gold for June delivery had settled above $1,200 in early December 2009, only to pull back to $1,172 area and dip as much as the $1,050 vicinity in early February 2010.
Last week, gold ended higher by 3.3%. Gold ended May higher by 3%. For the month of April, gold ended higher by 6%. For the first quarter of this year, gold rose by 1.7%, its sixth quarterly rise. On a year to date basis, gold is higher by 11.3%.
On Wednesday, July Comex silver futures ended lower by 23.6 cents (1.3%) at $18.315 an ounce. Last week, silver ended higher by 4.3%. For May, silver shed 1.1%. For the month of April, silver ended higher by 4.1%. For the first quarter of this year, silver rose by 3%. On a year to date basis, silver is higher by 5.4%.
In the currency market on Wednesday, the dollar stayed relatively strong for almost the entire day but the dollar index ended the day with a 0.2% loss.
Among economic reports for the day, the National Association of Realtors reported that pending home sales index rose 6% in April after an upwardly revised 7.1% increase in March. The pending sales index is at the highest level since October, just before a previous tax credit expired. The index is up 22% compared with April 2009. Buyers rushed to sign sales contracts on previously owned homes in US in April before a tax subsidy expired. The report gave US equities a major boost today.
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.
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. 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.
At the MCX, gold prices for August delivery closed lower by Rs 79 (0.42%) at Rs 18,637 per ten grams. Prices rose to a high of Rs 18,850 per 10 grams and fell to a low of Rs 18,610 per 10 grams during the day's trading.
At the MCX, silver prices for July delivery closed Rs 372 (1.25%) lower at Rs 29,231/Kg. Prices opened at Rs 29,597/kg and fell to a low of Rs 29,083/Kg during the day's trading.

Crude gains marginally

Strong housing data improves sentiment
Crude oil prices ended higher at Nymex on Wednesday, 02 June 2010. Strong US economic data and higher US stocks helped dissipate demand concerns for the time being and pushed prices higher. The weekly inventory report by energy department is scheduled to be reported tomorrow, a day later, due to Memorial Day Holiday on last Monday.
On Wednesday, crude-oil futures for light sweet crude for July delivery closed at $72.86/barrel (higher by $0.28 or 0.4%). Last week, crude gained 5.6%.
For the month of May, crude shed 14%. It was the biggest monthly drop for crude since December 2008. For the month of April, crude rose 2.8%. For the first quarter of this year, crude rose by 5.5%. Year to date, crude is higher by 3.5%.
In the currency market on Wednesday, the dollar stayed relatively strong for almost the entire day but the dollar index ended the day with a 0.2% loss.
Among economic reports for the day, the National Association of Realtors reported that pending home sales index rose 6% in April after an upwardly revised 7.1% increase in March. The pending sales index is at the highest level since October, just before a previous tax credit expired. The index is up 22% compared with April 2009. Buyers rushed to sign sales contracts on previously owned homes in US in April before a tax subsidy expired. The report gave US equities a major boost today.
Among other energy products on Wednesday, gasoline for July delivery added 4 cents, or 2.2%, to $2.02 per gallon.
Natural gas for July delivery added 18 cents, or 4.1%, to settle at $4.42 per million British thermal units.
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. Crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex.
At the MCX, crude oil for June delivery closed lower by Rs 31 (0.89%) at Rs 3,456/barrel. Natural gas for June delivery closed at Rs 206.6, higher by Rs 4.3 (2.1%).

Tata Motors inaugurates Nano factory at Sanand

Tata Motors today inaugurated the world’s cheapest car, the Nano’s, manufacturing facility here, nearly two years after it was forced to shift the plant out of West Bengal over a land row.

TataThe new plant at Sanand was inaugurated by Gujarat Chief Minister Narendra Modi and Tata Group Chairman Ratan Tata, who seven years ago dreamt of making an affordable family car for the common man.”When I came here first on an industry visit invited by Gujarat Chief Minister, I was told that if it (the Nano plant) is not in Gujarat, I will be a stupid. I am no longer stupid after investing on the plant in Gujarat,” Tata said while inaugurating the plant.

Spread over about 1,100 acres, the plant in Sanand has been created at n investment of about Rs 2,000 crore.

Speaking on the occasion, Modi said: “The revolution brought by Ford in the early 20th century with its small car is being replicated now by Ratan Tata with his Nano.”

Every middle-class family’s dream to own a car is being fulfilled at Sanand with the inauguration of the Nano plant, he added.

Ratan Tata’s dream of making a car costing only Rs 1 lakh crore had to face challenges, both technical and political, ever since it was conceived in 2003.

At a time when input costs were soaring, keeping the cost of production of a comfortable mini car powered by a 623cc engine giving a competitive mileage, was a challenge big enough for the engineers of Tata Motors.

While Tatas were able to overcome it, the group was unable to beat political challenge from Trinamool Congress and had to shift manufacturing base from the original location at Singur in West Bengal to Sanand in Gujarat in October 2008. Tatas, by then, had already put over Rs 1,000 crore in Singur.

It delayed not only the original plans for the commercial launch of Nano by about five months, but also affected its availability.

Till the time the Sanand facility was ready, the company went ahead with limited production of Nano, touted as the world’s cheapest car with a factory gate price of Rs 1,00,000 (little over $2,000), from Pantnagar in Himachal Pradesh.

Bookings for the car opened in April 2009 and deliveries began in July that year. It has so far delivered over 35,000 units. However, only the first 1,00,000 customers are assured of getting the car at an ex-factory price of Rs 1,00,000.

The Sanand facility has the capacity to manufacture 2.5 lakh units annually, which can subsequently be increased to 5 lakh units per annum. Pilot commercial production of Nano at Sanand has already begun.

source: Business-Standard

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Trend	Scrip	%		Remarks
Buy	TECHM	4.91	%	Achieved More than TGTs
Buy	HINDOILEXP	6.18	%	Achieved More than TGTs
Buy	APTECHT	1.61	%	Target Achieved
Sell	KARURVYSYA	1.37	%	Target Achieved
Buy	BAJAJFINSV	1.97	%	Target Achieved

5	Calls given Total
2	Calls Achieved More than Targets
3	Calls Achieved Target
0	Calls Exit in Profit
0	Calls Exit around Cost
0	Calls Exit in Little Loss
0	Calls SL Taken
16.04	% of Total Profit in Percentages
61,350	Rupees Profit, with 1000 quantity in each call
6,135	Rupees Profit, with 100 quantity in each call
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Trend	Scrip	Profit / Loss		Remarks
Buy	NIFTY	2950		Achieved More than TGTs

1	Calls given Total
1	Calls Achieved More than Targets
0	Calls Achieved Target
0	Calls Exit in Profit
0	Calls Exit around Cost
0	Calls Exit in Little Loss
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59	Points of Gain/Loss in Nifty Calls
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Crude continues to glide down

Demand concerns weigh on crude prices
Crude oil prices ended lower at Nymex on Tuesday, 01 June 2010. Though prices had started the day lower, it inched up higher during the course of the day but the rise was short lived and prices fell again. Prices dropped due to demand concerns for energy across the globe.
On Tuesday, crude-oil futures for light sweet crude for July delivery closed at $72.58/barrel (lower by $1.39 or 1.9%). Last week, crude gained 5.6%.
For the month of May, crude shed 14%. It was the biggest monthly drop for crude since December 2008. For the month of April, crude rose 2.8%. For the first quarter of this year, crude rose by 5.5%. Year to date, crude is higher by 3.1%.
In the currency market on Tuesday, the euro shed almost 2% against the dollar and fell to its lowest levels in more than four years on concerns that the euro zone problems will slow down the overall recovery of that region.
Among economic reports for the day, it was seen that activity in U.S. manufacturing slowed a bit in May after hitting a six-year high in April but still showed considerable momentum. The Institute for Supply Management index fell to 59.7% in May from 60.4% in April. This was above the 59% reading expected. Readings over 50% in the ISM diffusion index indicate that more firms are growing than contracting. The ISM tracks the breadth of growth across firms, asking purchasing managers if business is better this month than last.
Separately, the Commerce Department in US showed that construction spending increased 2.7% in April, the biggest gain in nearly 10 years.
Fitch Ratings on last Friday downgraded Spain's debt to AA+ from AAA, citing concerns about the country's level of debt relative to its gross domestic product.
Among other energy products on Tuesday, reformulated gasoline for July delivery lost 4 cents, or 2.2%, to settle at $1.98 a gallon on Nymex.
Natural gas for July delivery declined 9 cents, or 2.1%, to $4.24 per million British thermal units.
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. Crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex.
At the MCX, crude oil for June delivery closed higher by Rs 23 (0.66%) at Rs 3,487/barrel. Natural gas for June delivery closed at Rs 202.3, lower by Rs 1.5 (0.73%).

Precious metals shine

Gold and silver gain as euro drops to four-year lows
Yellow metal prices ended higher for sixth straight day on Tuesday, 01 June 2010. Prices rose as problems in the euro zone lingered and the euro dropped to four-year low levels. Strong manufacturing data on the US front also perked up prices. Markets were closed yesterday in observance of Memorial Day.
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 Tuesday, gold for August delivery ended at $1,226.9 an ounce, higher by $11.9 (1%) an ounce on the New York Mercantile Exchange. Gold for June delivery had settled above $1,200 in early December, only to pull back to $1,172 area and dip as much as the $1,050 vicinity in early February.
Last week, gold ended higher by 3.3%. Gold ended May higher by 3%. For the month of April, gold ended higher by 6%. For the first quarter of this year, gold rose by 1.7%, its sixth quarterly rise. On a year to date basis, gold is higher by 11.7%.
On Tuesday, July Comex silver futures ended higher by 12.9 cents (0.7%) at $18.551 an ounce. Last week, silver ended higher by 4.3%. For May, silver shed 1.1%. For the month of April, silver ended higher by 4.1%. For the first quarter of this year, silver rose by 3%. On a year to date basis, silver is higher by 6.7%.
In the currency market on Tuesday, the euro shed almost 2% against the dollar and fell to its lowest levels in more than four years on concerns that the euro zone problems will slow down the overall recovery of that region.
Among economic reports for the day, it was seen that activity in U.S. manufacturing slowed a bit in May after hitting a six-year high in April but still showed considerable momentum. The Institute for Supply Management index fell to 59.7% in May from 60.4% in April. This was above the 59% reading expected. Readings over 50% in the ISM diffusion index indicate that more firms are growing than contracting. The ISM tracks the breadth of growth across firms, asking purchasing managers if business is better this month than last.
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.
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. 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.
At the MCX, gold prices for August delivery closed higher by Rs 318 (1.72%) at Rs 18,716 per ten grams. Prices rose to a high of Rs 18,815 per 10 grams and fell to a low of Rs 18,434 per 10 grams during the day's trading.
At the MCX, silver prices for July delivery closed Rs 311 (1.06%) higher at Rs 29,603/Kg. Prices opened at Rs 29,320/kg and rose to a high of Rs 29,755/Kg during the day's trading.

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Market snaps four-day winning streak on weak global cues

The key benchmark indices suffered a severe setback in the second half of the trading session as slowdown in Chinese manufacturing growth pulled world stocks sharply lower. The BSE 30-share Sensex fell 372.60 points or 2.2%, up close to 250 points from the day's low and off close to 370 points from the day's high. A sharp intraday fall in the Sensex of over 600 points was due to some freak trades in the index heavyweight Reliance Industries (RIL) counter on BSE which were struck at about 12:50 IST.
The market snapped last four days' strong gains. From a recent low of 16,022.48 on 25 May 2010, the BSE Sensex had gained 922.15 points or 5.75% in four trading sessions to 16,944.63 on 31 May 2010. From a recent peak of 17,970.02 on 7 April 2010, the Sensex is down 1397.99 points or 7.77%. The Sensex has declined 892.78 oints or 5.11% in the calendar year 2010 so far after jumping 81% in calendar 2009.
Coming back to today's trade, the 50-unit S&P CNX Nifty fell below the psychological 5,000 mark. The market breadth was weak, in complete contrast to a strong breadth earlier in the day. IT stocks declined on fears the worsening Eurozone crisis would crimp outsourcing demand. Metal shares declined after downbeat Chinese economic data sparked concerns about demand for metals in the world's fastest growing economy. Infrastructure stocks declined on selling pressure. Banking stocks also fell. However, fertiliser stocks gained on optimism a normal monsoon will boost demand for fertilisers.
NSE's volatility index India VIX, reversed a recent steep slide. India VIX which is a gauge of traders' perception of near-term risks in the market based on options prices, jumped 9.16% to 29.08. India VIX is calculated based on the S&P CNX Nifty options prices. India VIX is a measure of the market's expectation of volatility over the next 30 calendar days.
The market edged lower in opening trade tracking weak Asian stocks. The Sensex hit a fresh intraday low in morning trade on profit taking after a four-day sharp surge. The market came off the lower level in mid-morning trade on strong macro economic data. The market weakened again with the Sensex hitting a fresh intraday low in early afternoon trade. The market slumped in mid-afternoon trade, tracking weak European shares. The market extended losses in late trade.
India's exports rose 36% to $16.9 billion in April 2010 over April 2009, the latest government data showed. Exports rose for the sixth consecutive month in May 2010 after registering a slide in 13 straight months. Iimports rose 43% to $27.3 billion in April 2010 over April 2009.
HSBC Markit Purchasing Managers' Index (PMI), based on a survey of 500 Indian firms, surged to a 27-month high of 59 in May 2010 from 57.2 in April 2010, bolstered by steady growth in output, new orders and employment. The rate of growth had slowed in March 2010 and April 2010
Meanwhile, the provisional winning price for a single pan-India wireless broadband (BWA) spectrum touched Rs 7221 crore on Monday, with Delhi and Mumbai circles crossing the Rs 1000-crore mark. With this the government will get at least Rs 21664 crore from the BWA, taking the total revenues from both 3G and BWA spectrum auctions to nearly Rs 90000 crore, much above the government expectation. The revenue bounty would help bring down fiscal deficit.
European shares fell on Tuesday, as slowing Chinese factory output fuelled pessimism over global economic recovery and banks slid after the European Central Bank said euro zone lenders face another wave of potential write-down. The key benchmark indices in France, Germany and UK fell by 1.77% to 2.41%.
Asian stock markets were lower Tuesday as Chinese manufacturing growth slowed. The key benchmark indices in Hong Kong, South Korea, Indonesia, China, Japan and Taiwan were down by between 0.66% to 2.59%.
Data released today showed Chinese manufacturing expanded at a slower pace in May 2010, suggesting that the Chinese government's steps to cool the economy could be having an effect. The official China Federation of Logistics and Purchasing purchasing managers index fell to 53.9 in May 2010 from 55.70 in April 2010, while HSBC Holdings PLC's PMI fell to 52.7 in May from a revised 55.2 in April.
Trading in US index futures showed that the Dow could fall 104 points at the opening bell on Tuesday, 1 June 2010. US markets were closed on Monday, 31 May 2010, for the Memorial Day holiday.
Global ratings firm Fitch Ratings on 28 May 2010 cut Spain's credit rating by one level to AA+ from AAA, saying the country's debt burden is likely to weigh on growth. Fitch cited an inflexible labor market and a restructuring of regional and local savings banks as hindrances to the pace of adjustment. Spain is struggling to lower debt amid a fiscal crisis that prompted the European Union to forge an almost $1 trillion loan package for its weakest economies.
Spain's downgrade follows similar cuts in ratings of Greece and Portugal recently as those nations attempt to grapple with debt problems by implementing austerity measures.
Back home, India's economy grew at 8.6% in the March 2010 quarter driven by robust manufacturing sector on the back of government and consumer spending, data released by the government on Monday, 31 May 2010, showed. The growth was significantly higher than the revised 6.5% expansion in Q3 December 2009 and a 5.8% growth in Q4 March 2009. The manufacturing sector grew 16.3%, farm output rose 0.7%, mining sector expanded 14% and services increased by 8.4% in January-March 2010 quarter from a year earlier.
For the full year to March 2010, the economy expanded 7.4%, above a government forecast of 7.2%. Economic growth had slowed down to 6.7% in year ended March 2009.
The India Meteorological Department (IMD) on 31 May 2010 said that the monsoon has hit the southern coast. The weather office late April 2010 said rainfall is likely to be 98% of the long-term average. Good monsoon rains would help raise farm output, boost rural incomes and lower food inflation.
The south west monsoon is important for India as about 60% of the country's farmlands are rain-fed and more than half of the workforce is employed in the agriculture sector. The quantum of rainfall in the crucial sowing month of July and distribution of rainfall during the monsoon season also holds key.
Six core infrastructure industries registered a 5.1% growth in April 2010 compared with 3.7% rise in April 2009. For the financial year ended March 2010, the core sector posted a growth 5.5% as against 3% in the same period last year.
Data released on 28 May 2010 showed food inflation rose 16.23% in the year through 15 May 2010, lower than previous week's annual rise of 16.49%. The fuel price inflation also slowed to 12.08% from the previous week's 12.33%. The primary articles index was up 15.90%, compared with the previous week's annual reading of 16.19%.
Prime Minister Manmohan Singh in late May 2010 said inflation is showing signs of moderating and the government expects to achieve a medium term target of 10% GDP growth annually. The Prime Minister said he expects inflation to moderate to 5-6% by December 2010. Singh expects 8.5% GDP growth in the year ending March 2011 (FY 2011).
The Reserve Bank of India (RBI) on 26 May 2010, eased rules to boost liquidity at banks to avoid a cash crunch because of payments for corporate advance tax and license fees for third-generation mobile-phone spectrum. As per RBI's circular released on 26 May 2010, banks can borrow as much as 0.5% of their deposits from the central bank under the repurchase agreement till 2 July 2010. In addition, RBI said that as an ad hoc measure, banks can seek a waiver for any shortfall in maintenance of the prescribed 25% statutory liquidity ratio (SLR) while availing the temporary facility.
Besides, the central bank has decided to conduct two rounds of liquidity adjustment facility (LAF) operations till 2 July 2010. Through LAFs, that are conducted at least once a day, banks can avail of funds through the repo window or park surplus cash through the reverse repo route.
The RBI expects India's economy to expand 8% in the year ending March 2011 (FY 2011) with an upward bias, assuming a normal monsoon this year and sustenance of good performance of the industrial and services sectors on the back of rising domestic and external demand. The RBI at its annual policy review on 20 April 2010 said it will continue to monitor macroeconomic conditions, particularly the price situation closely and take further action as warranted.
China, India, Brazil and Russia are powering ahead, the Organisation for Economic Cooperation and Development (OECD) said on 26 May 2010, revising upwards its growth outlook for all four largest emerging economies. The OECD revised India's GDP growth forecast for 2010 to 8.2% from its earlier estimate of 7.3%. It also raised the growth forecast for 2011 to 8.5% from its earlier estimate of 7.6%. The OECD also said that underlying inflationary pressures are likely to persist given the strong outlook for demand.
In its World Economic Outlook in April 2010, the International Monetary Fund (IMF) pegged India's GDP growth forecast at 8.75% in calendar 2010 and 8.5% in calendar 2011. IMF's optimism was based on expectations of strengthening of domestic demand as the labour market improves. Expectations of increase in investment on the back of strong corporate profitability, rising business confidence and favourable financing conditions, were other factors cited by IMF for its prediction of strong growth in India's economy.
The combined net profit of a total of 3,344 companies rose 14.2% to Rs 87,122 crore on 24.7% rise in sales to Rs 9,24,522 crore in the quarter ended March 2010 over the quarter ended March 2009.
The BSE 30-share Sensex fell 372.60 points or 2.2% to 16,572.03. The index fell 626.24 points at the day's low of 16,318.39 in afternoon trade due to some freak trades in index heavyweight Reliance Industries (RIL) counter. The Sensex declined 1.81 points at the day's high of 16,942.82 in early trade.
The S&P CNX Nifty declined 116.10 points or 2.28% to 4,970.20.
The market breadth, indicating the overall health of the market, was weak. On BSE, 1804 shares declined as compared with 1007 that rose. A total of 87 remained unchanged. The breadth was strong earlier in the day.
The total turnover on BSE amounted to Rs 4242 crore, higher than Rs 3771 crore on Monday, 31 May 2010.
Among the 30-share Sensex pack, 27 declined while only 3 of them managed gains.
The BSE Mid-Cap index fell 1.33% and the BSE Small-Cap index fell 0.99%. Both the indices outperformed the Sensex.
All the sectoral indices on the BSE fell. BSE Metal index (down 3.86%), BSE Realty index (down 2.95%), Oil & Gas index (down 2.53%), Banking sector index Bankex (down 2.46%), underperformed the Sensex.
BSE Healthcare index (down 0.02%), FMCG index (down 0.63%), IT index (down 1.23%), Consumer Durables index (down 1.28%), Auto index (down 1.35%), Power index (down 1.63%), PSU index (down 1.68%), Capital Goods index (down 1.74%) outperformed the Sensex.
Index heavyweight Reliance Industries (RIL) shed 3.21% to Rs 1,011.55. A total of four deals were struck in the counter at about 12:50 IST on BSE at prices much lower than the ruling market price. One deal of 25,407 was struck at Rs 1,011 per share, another deal of 7,738 shares was executed at Rs 992.90 per share, a deal of 15,588 shares was executed at Rs 945 per share and yet another deal of 12,951 shares was executed at Rs 840.55 per share. Just before these four deals, RIL was changing hands at Rs 1028 level.
IT stocks declined on fears the worsening Eurozone debt crisis would crimp outsourcing demand. Europe is the second biggest market for Indian IT firms after the US. India's second largest software services exporter by sales Infosys fell 1.22%. India's largest software services exporter by sales TCS declined 0.43% and India's third largest software services exporter by sales Wipro slipped 1.53%.
Banking stocks declined as strong macro economic data reinforced expectations the Reserve Bank of India will hike interest rates at its next monetary policy review on 27 July 2010. India's largest private sector bank by net profit ICICI Bank declined 3.31%. India's second largest private sector bank by net profit HDFC Bank lost 1.48%. India's largest commercial bank in terms of branch network State Bank of India fell 2.57%. Among other PSU stocks, Bank of India, Bank of Baroda and Punjab National Bank fell by between 0.16% to 2.34%.
Metal shares declined as downbeat Chinese economic data sparked concerns about demand for metals. China is the world's largest consumer of copper and aluminum. Sterlite Industries, Hindalco Industries, Hindustan Zinc, Tata Steel, Jindal Steel & Power and Sesa Goa fell by between 3.03% to 5.19%.
India's largest small car maker by sales Maruti Suzuki India advanced 1.8% after total sales rose 27.90% to 1,02,175 units in May 2010 over May 2009. It was the top gainer from the Sensex pack. The company's domestic sales rose 27.2% to 90,041 units in May 2010 over May 2009. This is highest ever monthly domestic sales. Exports increased 33.5% to 12,134 units in May 2010 over May 2009.
India's largest vehicle maker, Tata Motors fell 3.84%. Total vehicle sales rose 41% to 56,779 units in May 2010 over May 2009. Domestic sales grew 38% to 52,801 units in May 2010 over May 2009.
Bajaj Auto fell 2.02% as sales declined 4.4% to 2,99,442 units in May 2010 over April 2010. The sales data was announced during market hours today.
Infrastructure stocks declined on selling pressure. India's largest dam builder by sales Jaiprakash Associates lost 6.04%, extending Monday's 1.54% fall. It was the top loser from the Sensex pack.
Larsen & Toubro, Nagarjuna Construction Company, Hindustan Construction Company and IVRCL Infrastructure fell by between 0.09% to 3.36%.
India's second largest listed cellular services provider by sales Reliance Communications declined 3.87% on reports South Africa's MTN Group may restart merger talks with the company. The company paid Rs 8,585.04 crore to the government on 31 May 2010 for 3G spectrum. It bagged 3G spectrum in 13 circles, including Delhi and Mumbai.
India's largest listed cellular services provider by sales Bharti Airtel fell 2.04%. The company paid Rs 12,295.46 crore to the government on 31 May 2010 for 3G spectrum in 13 circles.
India's third largest listed cellular services provider by sales Idea Cellular Services declined 2.87%. The company paid Rs 5768.59 crore to the government on 31 May 2010 for 3G spectrum in 11 circles.
Fertiliser stocks gained on optimism a normal monsoon will boost demand for fertilisers. Chambal Fertilisers, National Fertiliser, Coromandel International, Gujarat State Fertilisers, Deepak Fertilisers and Nagarjuna Fertiliser rose by between 0.96% to 6.42%.
Cals Refineries clocked the highest volume of 2.54 crore shares on BSE. Development Credi Bank (1.8 crore shares), IFCI (1.14 crore shares), Shree Ashtavinayak Cine Vision (1.08 crore shares) and Hindustan National Glass (75.46 lakh shares) were the other volume toppers in that order.
Hindustan National Glass clocked the highest turnover of Rs 177.49 crore on BSE. Tata Steel (Rs 174.29 crore), Reliance Industries (Rs 160.47 crore), Hindustan Copper (Rs 143.41 crore) and Educomp Solutions (Rs 123.90 crore) were the other turnover toppers in that order.

BSE Bulk Deals to Watch - June 1 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
1/6/2010 530901 ACIL Cot Inds ABHIJAI INVESTMENT B 69300 33.24
1/6/2010 530901 ACIL Cot Inds MUKESH JAGDISH TRIVEDI S 62000 33.20
1/6/2010 530901 ACIL Cot Inds RAJENDRA N SURANA S 81000 33.25
1/6/2010 531761 Amulya Leas SURENDRA KUMAR JAIN S 50000 39.04
1/6/2010 531761 Amulya Leas MADHUR JAIN S 70500 39.01
1/6/2010 532542 Crew Bos LEASEMEN FIN-INVEST (INDIA) LIMITED S 70000 94.04
1/6/2010 512361 Cupid Trades PARVATI MINERALS PRIVATELTD B 10000 54.10
1/6/2010 512361 Cupid Trades SHAMANJWALI PVT LTD S 10000 54.10
1/6/2010 532772 Dev Credit Bank OPG SECURITIES P LTD B 1689176 49.30
1/6/2010 532772 Dev Credit Bank TRANSGLOBAL SECURITIES LTD. B 1747349 47.50
1/6/2010 532772 Dev Credit Bank TRANSGLOBAL SECURITIES LTD. S 1739816 47.41
1/6/2010 532772 Dev Credit Bank OPG SECURITIES P LTD S 1689176 49.34
1/6/2010 531601 Gujarat Capital BHARAT SHANTILAL THAKKAR B 100000 54.04
1/6/2010 531601 Gujarat Capital SITARAM COMPUTECH PRIVATE LIMITED S 75000 53.82
1/6/2010 515145 Hindusthan Nat IRONWOOD INVESTMENT HOLDINGS B 6348025 200.00
1/6/2010 515145 Hindusthan Nat HNG TRUST S 2910000 200.01
1/6/2010 515145 Hindusthan Nat SPOTLIGHT VANIJYA LIMITED S 675000 200.21
1/6/2010 515145 Hindusthan Nat TOPAZ COMMERCE LTD S 932000 200.02
1/6/2010 515145 Hindusthan Nat NOBLE ENCLAVE AND TOWERS LTD S 1975000 200.00
1/6/2010 514312 Jaihind Syn MITTAL NILESH SANGANI B 30000 11.58
1/6/2010 514312 Jaihind Syn VANDANA VIMAL MEHTA B 25000 11.91
1/6/2010 514312 Jaihind Syn PRASHAM DINISHBHAI DOSHI B 62291 10.94
1/6/2010 514312 Jaihind Syn REKHA KUNTAL NARCHENIA B 25000 11.91
1/6/2010 514312 Jaihind Syn PRASHAM DINISHBHAI DOSHI S 51891 11.89
1/6/2010 514312 Jaihind Syn JIGNESH J DHABALIA S 30681 11.05
1/6/2010 514312 Jaihind Syn VANDANA VIMAL MEHTA S 33000 11.06
1/6/2010 530255 KAY Power BAMPSL SECURITIES LTD B 57840 14.71
1/6/2010 511760 Kosian Inds VENILAXMI INVESTMENT PRIVATE LIMITED B 15390 7.77
1/6/2010 511760 Kosian Inds GRISHMA SANMATI DHANOTE S 15000 7.76
1/6/2010 509011 Livingroom Life SHRIM DEVELOPERS PVT LTD B 55000 43.90
1/6/2010 509011 Livingroom Life JEHANGIR TURABALI NAGREE S 55037 43.90
1/6/2010 590111 MASTER PARVATHANENI MOUNISHA B 36001 33.76
1/6/2010 590111 MASTER PARVATHANENI MOUNISHA S 33984 34.11
1/6/2010 590111 MASTER JAYA VEERA VENKATA DURGA PRAKASH MADDULA S 27100 33.29
1/6/2010 590111 MASTER GOPALA KRISHNA BONAM S 49658 33.10
1/6/2010 590060 MK Exim KETAN CHANDRAVADAN PARIKH B 20000 56.36
1/6/2010 590060 MK Exim NISHIL KANTILAL MALDE S 31000 56.40
1/6/2010 531453 Mohit Inds RAJESH VALLABHDAS KATARIA B 30000 32.40
1/6/2010 531453 Mohit Inds TIRATH PRADYUMAN PARIKH B 30926 32.53
1/6/2010 531453 Mohit Inds HITESH SHASHIKANT JHAVERI B 42332 32.60
1/6/2010 531453 Mohit Inds MONA MANISH SHAH B 32000 32.59
1/6/2010 531453 Mohit Inds NARESHCHAND JAIN B 41011 32.60
1/6/2010 531453 Mohit Inds SAVITRIDEVI FATECHAND JAIN B 57700 32.59
1/6/2010 531453 Mohit Inds BP FINTRADE PRIVATE LIMITED B 58162 32.59
1/6/2010 531453 Mohit Inds BP FINTRADE PRIVATE LIMITED S 58162 32.59
1/6/2010 531453 Mohit Inds HITESH SHASHIKANT JHAVERI S 40898 32.58
1/6/2010 531453 Mohit Inds NARESHCHAND JAIN S 41011 32.48
1/6/2010 531453 Mohit Inds GITA BHAINI RANJAN S 50000 32.60
1/6/2010 531453 Mohit Inds TIRATH PRADYUMAN PARIKH S 34926 32.22
1/6/2010 526263 Moldtek Tech USHA KUMARI S 20900 72.74
1/6/2010 531496 Omkar Overseas DARI TEJAS K B 33001 82.71
1/6/2010 531496 Omkar Overseas J V STOCK BROKING PRIVATE LIMITED B 27593 82.11
1/6/2010 531496 Omkar Overseas JYOTIBEN OMPRAKASH PUNJABI B 90502 82.45
1/6/2010 531496 Omkar Overseas ARVIND KASHMIRILAL PUNJABI B 56500 82.94
1/6/2010 531496 Omkar Overseas JYOTIBEN OMPRAKASH PUNJABI S 90502 82.67
1/6/2010 531496 Omkar Overseas J V STOCK BROKING PRIVATE LIMITED S 25765 82.37
1/6/2010 531496 Omkar Overseas AMBIKA SHYAM SHUKLA S 50000 82.45
1/6/2010 512097 Oregon Comm BHAVESH SHANTILAL TRIVEDI B 6400 327.00
1/6/2010 512097 Oregon Comm VIRENDRAKUMAR JAYANTILAL PATEL B 14447 336.59
1/6/2010 512097 Oregon Comm KINJAL GIRISH SHAH B 18526 336.61
1/6/2010 512097 Oregon Comm PRAKASH KISHANCHAND VIRWANI B 6100 327.00
1/6/2010 512097 Oregon Comm DILIP K VIRVANI B 6100 327.00
1/6/2010 512097 Oregon Comm PARESH RAMJIBHAI CHAUHAN S 12447 336.54
1/6/2010 512097 Oregon Comm SONAL BHUPENDRABHAI KAMODIA S 12626 336.54
1/6/2010 512097 Oregon Comm PATEL VIPUL S 8000 337.18
1/6/2010 530047 Rai Saheb Rekh VIBHA MADHUSUDAN MEHADIA B 22200 98.00
1/6/2010 530047 Rai Saheb Rekh BADJATE ANUJ SHANTILAL HUF S 28500 98.00
1/6/2010 590077 Ranklin Sol MALLI KHAR JUNARAO V B 29617 81.61
1/6/2010 590077 Ranklin Sol PABBATHIBADARI NARAYANA MURTHY S 32642 81.46
1/6/2010 526753 Roselabs Inds SWAGATAM MARKETING PRIVATE LIMITED B 100000 71.98
1/6/2010 530035 Santosh Fine ROSHANI NEETISH DOSHI B 32700 19.45
1/6/2010 530035 Santosh Fine MONEYCARE FINANCE AND LEASING PRIVATE LIMITED S 32700 19.45
1/6/2010 533056 SARK SYS SWETA TIBREWALA B 50000 41.65
1/6/2010 533056 SARK SYS MV TRADECOM PRIVATE LIMITED B 70000 41.99
1/6/2010 533056 SARK SYS S K TRADING (S K CHOURASIA) B 50000 41.65
1/6/2010 533056 SARK SYS THE IL&FS FINANCIAL SERVICES LIMITED S 351350 41.93
1/6/2010 526071 Sellaids Pub MAHIPAT IWDARMAL MEHTA B 39274 19.35
1/6/2010 526071 Sellaids Pub BHARAT SHANKAR PHAPALE S 39300 19.35
1/6/2010 511754 Shalibhadra Fin AMIT AGGARWAL S 27000 35.22
1/6/2010 532908 Sharon Bio HASINA KASAMBHAI SHEKH B 56089 138.93
1/6/2010 532908 Sharon Bio HASINA KASAMBHAI SHEKH S 56089 139.96
1/6/2010 531645 Southern Ispat HANUMAN GUPTA B 64910 16.92
1/6/2010 526133 Supertex Inds DHAVAL AMRISH SHAH B 748912 2.83
1/6/2010 526133 Supertex Inds SUPER INFINCON PVT LTD S 1050000 2.89
1/6/2010 523722 Svam Software SHRIDHAR FINANCIAL SERVICS LIMITED B 115725 2.84
1/6/2010 523722 Svam Software S L GUPTA AND Co S 115725 2.84
1/6/2010 533203 TARAPUR TRA MBL & Co. LTD. B 102285 39.79
1/6/2010 533203 TARAPUR TRA MBL & Co. LTD. S 102285 39.86
1/6/2010 522142 Techno Forge ASHOK MANSUKHLAL KAPASI B 50000 9.05
1/6/2010 522142 Techno Forge ABDUL MADARKASAM SHADIWAN S 50000 9.05
1/6/2010 590093 TRIMURTHI DR ARVIND SHAH S 464223 4.41
1/6/2010 531917 TWINSTA SO E MEENA MANOJ SHAH S 90000 3.30
* B - Buy, S - Sell

NSE Bulk Deals to Watch - June 1 2010

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
01-JUN-2010,DCB,Development Credit Bank L,GENUINE STOCK BROKERS PVT LTD,BUY,1256307,49.08,-
01-JUN-2010,DCB,Development Credit Bank L,RAVI SHANKARAN,BUY,1050000,48.84,-
01-JUN-2010,DCB,Development Credit Bank L,TRANSGLOBAL SECURITIES LTD.,BUY,1979253,47.56,-
01-JUN-2010,FCH,Future Capital Holdings L,DNYANESHWAR TRADING AND INVESTMENTS PRIVATE LIMITED,BUY,1000270,157.00,-
01-JUN-2010,TARAPUR,Tarapur Transformers Ltd,MBL & COMPANY LTD.,BUY,131460,39.72,-
01-JUN-2010,DCB,Development Credit Bank L,GENUINE STOCK BROKERS PVT LTD,SELL,1256307,49.16,-
01-JUN-2010,DCB,Development Credit Bank L,TRANSGLOBAL SECURITIES LTD.,SELL,1979253,47.67,-
01-JUN-2010,FCH,Future Capital Holdings L,AMIF I LTD,SELL,1048864,157.00,-
01-JUN-2010,FCH,Future Capital Holdings L,DNYANESHWAR TRADING AND INVESTMENTS PRIVATE LIMITED,SELL,270,157.70,-
01-JUN-2010,TARAPUR,Tarapur Transformers Ltd,MBL & COMPANY LTD.,SELL,131460,39.73,-

Nifty June 2010 futures below 5,000

Turnover surges
Nifty June 2010 futures were at 4,940, at a discount of 30.20 points to spot closing of 4970.20. Turnover in NSE's futures & options (F&O) segment surged to Rs 81,961.32 crore from Rs 62,506.35 crore on Monday, 31 May 2010.
Bharat Heavy Electricals June 2010 futures were at discount at 2313.25 compared to the spot closing of 2315.90.
Reliance Industries June 2010 futures were at premium at 1012.50 compared to the spot closing of 1010.50.
Suzlon Energy June 2010 futures were near spot price at 55.80 compared to the spot closing of 55.65.
In the cash market, the S&P CNX Nifty fell 116.10 points or 2.28% at 4,970.20.

Global sell-off cut winning streak

Today's major news
FY10 fiscal deficit at 6.6% of gross domestic product
Maruti Suzuki sales hit record high in May; the stock surges 1.80%
Lanco Infratech FY10 net profit jumps 84%, the stock closes 0.08% higher
Post-market summary
Global signals
European shares fell on Tuesday, as slowing Chinese factory output fuelled pessimism over global economic recovery and banks slid after the European Central Bank said Euro zone lenders face another wave of potential write-down. The key benchmark indices in France, Germany and UK fell by 1.61% to 2.43%.
The Asian indices closed in the red as Chinese manufacturing growth slowed. SGX Nifty closed 126 points lower.
The US stock index futures indicate a drop of more than 1% at the open on Tuesday as a slowdown in Asian manufacturing added to doubts about the pace of an economic recovery.
Indian indices
The worries across the globe got erupted after the Fitch Ratings on May 28, 2010 cut Spain's credit rating by one level to AA+ from AAA, saying that the country's debt burden is likely to weigh on growth. There was lack of support from the UK and US markets as they were shut overnight. The key benchmark index was keenly depended on Asian indices.
The Asian markets were down on the woes that Chinese economy may slow down as China's Purchasing Managers Index fell to 53.9 in May from 55.7 in April.
The Nifty again broke its psychological 5000 levels. However, the selling pressure across the sector indices dragged the benchmark indices.
Taking cues from Asian markets, the 30-share index, Sensex, opened mere two points lower at 16943 and this was also its day's high. The Sensex traded lackluster till the mid-session. Post lunch, the Sensex witnessed a sharp intraday fall of over 600 points due to some freak trades in the index heavyweight Reliance Industries. Ths European equities opened almost 2% lower, this also dragged the index further to touch the day’s low of 16318.
The India's exports rose 36% to $16.9 billion and the imports surged 43% to $27.3 billion in April 2010. The gross domestic product (GDP) readings for Q4FY2010 came in at 8.6% and FY2010 stood at 7.4%. The fiscal deficit stood at Rs4.12 lakh crore or roughly 6.6% of the GDP in 2009-10, as compared to a revised target of Rs4.14 lakh crore. The auto companies reported decent sales numbers for the month of May. These positive triggers could have bought some positive momentum in the domestic market today. But that failed to cheer the market and the Sensex extended its losses, with sell-off across the globe. The Sensex ended the day at 16572, 373 points lower. The Nifty closed below the 5000 levels at 4970, 116 points lower.
Market sentiment
The market breadth was unconstructive. Of the 2,898 shares traded on the BSE, 1,796 shares (61%) declined whereas 1,005 shares (35%) advanced. Ninety seven shares remained unchanged.
Sectoral & stock screening
All in red for the sector indices. The metal sector topped the losers’ list posting losses of 3.86% after downbeat Chinese economic data sparked concerns about demand for metals, which led to huge profit booking on sell-off in the metal stocks. The second, which was hit the most, was realty that fell by 2.95% due to selling pressure.
The defensive sectors — healthcare (HC) and fast moving consumer goods (FMCG) — saw some buying interest. But at last that too ended in red, with BSE HC and BSE FMCG down 0.02% and 0.63% respectively.
The top-3 gainers — Chambal Fertilisers and Chemicals that rose by 6.42%, Container Corporation of India that surged by 3.18% and Shree Renuka Sugars that was up by 2.27%. The top-3 losers — Jaiprakash Associates that slid by 6.04%, Fortis Healthcare that was down by 5.89% and Sesa Goa that declined by 5.19%.
Viewing volumes
Industrial finance company — IFCI saw highest trading with over 1.14 crore shares changing hands on the BSE, followed by Anil Dhirubhai Ambani Group firm — Reliance Natural Resources (0.66 crore share), wind turbine major — Suzlon Energy (0.66 crore shares), construction company — Unitech (0.55 crore shares) and sugar manufacturer — Shree Renuka Sugars (0.46 crore share).

MRPL

Investors with short-term trading perspective can consider selling the stock of Mangalore Refinery and Petrochemicals Ltd (MRPL). Since June 2009 high of Rs 102, the stock has been on an intermediate-term downtrend. In April 2010, the stock encountered significant resistance around Rs 84 and its downtrend accelerated thereafter. It has been on a medium-term downtrend too since April. The stock conclusively broke through its important long-term support level of Rs 70 during the third week of May by tumbling almost six per cent. At present, this support level has turned into a key resistance level for the stock. It is trading well below its 21 and 50-day moving averages. The daily relative strength index has re-entered into the bearish zone from the neutral region, whereas the weekly RSI is featuring in the bearish zone. Both daily and weekly moving average convergence and divergence indicators are hovering in the negative territory. These facts reinforce bearish sentiment on the stock. Our short-term forecast is bearish. We expect the stock to decline further until it hits our price target of Rs 63 in the upcoming sessions. Short-term traders can, hence, sell the stock with the stop at Rs 69.
via BL