1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Monday, November 21, 2011
Domestic Markets Snapshot Views on markets today
Name of Index Nov 17 Nov 18 Change (%) • Indian markets ended lower but off day's low in a
Sensex 16,461.71 16,371.51 -0.55% choppy session on Friday, as investors were uncertain
about the European developments and therefore
CNX Nifty 4,934.75 4,905.80 -0.59%
preferred to recoup some of the losses. Consistent
BSE Mid-cap 5,775.92 5,716.45 -1.03%
negative news flows from Eurozone and dip in China's
BSE IT 5,653.81 5,614.13 -0.70% property prices left investors guess the day when
BSE Banks 10,250.30 10,161.29 -0.87% these uncertainties will end. The RBI's statement that
FII Activity (`Cr) it will not interfere in the currency market indicated
also dampen market sentiments. Except pharma and
Date Buy Sell Net consumer durables, all sectoral indices closed on
17-Nov 1,933 2,094 -161 negative note with real estate, FMCG, metal and auto
16-Nov 1,737 2,199 -462 stocks were major losers. Banking shares continued
Total Nov 22,663 21,788 875 their downward trend on worries that rising slippages
2011 YTD 549,645 548,246 1399 and provisioning due to high interest rates would
impact earnings in coming quarters. While shares in
MF Activity (`Cr) retailers rose after media reports that the government
Date Buy Sell Net may allow foreign direct investment in multi-brand
17-Nov 441 344 98 retail. Kingfisher Airlines fell nearly 18% on concerns
16-Nov 614 555 59 about the cash-strapped carrier's ability to tie up funds
to continue operations, but recovered partly to close
Total Nov 4639 5114 -475
down 3.8%. On Thursday, India's civil aviation minister
2011 YTD 116,770 112,382 4388
ruled out a public bailout for Kingfisher or any other
Volume & Advances / Declines airline, urging private airlines in India to put their own
house in order. Suzlon Energy fell 7% to a fresh all-
NSE BSE
time low 22.55 rupees a day after the controlling
Trading Volume (`Cr) 10,735 2,348
shareholders in the wind turbine maker sold a stake of
Advances 410 882
about 2% for $20mn.
Declines 1,079 1,989
• Market breadth was weak at ~0.44x as investors sold
Unchanged 41 108
large cap stocks. FIIs sold equities worth `8.71bn while
Total 1,530 2,979 domestic institutions bought equities of `3.81bn.
Global Markets • Asian shares declined on Monday, as European and US
Index Latest Values Change (%) debt problems remained firmly in focus for the
region’s investors, with Hong Kong stocks leading the
DJIA 11,796.16 0.2%
decline.
NASDAQ 2,572.50 -0.6%
Nikkei * 8,365.04 -0.1%
• We expect a weak start for the Indian markets as the
cues from the Asian markets are negative. Investors
Hang Seng * 18,142.23 -1.9%
may keep their eyes on developments in the Eurozone
* as of 8.25AM IST to take a decision for the future directions.
Currencies / Commodities Snapshot Economic and Corporate Developments
Latest Previous • Over-optimistic forecasts by policymakers predicting
Quote Close
when India's stubbornly high inflation would ease have
Indian Rupee per $ 51.23 51.24
hurt the government's credibility, although price rises
Indian Rupee per € 69.33 69.29 should moderate by the end of the fiscal year in
NYMEX Crude Oil($/bbl) 97.71 97.67 March, Montek Singh Ahluwalia said on Sunday.
Gold ($/oz) 1,722.40 1,725.10 • The Oil Ministry has sanctioned taking "scrupulous"
Silver ($/oz) 32.18 32.42 action against Reliance Industries for natural gas
output from its KG-D6 fields falling below the target.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • Southern Petrochemical Industries Corporation (Spic)
Previous Current Change is to invest around `300Cr to convert its urea plant
Company Name
Close (`) Price (`) (%) at Tuticorin, Tamil Nadu, to run on gas from naptha.
Shree Renu Sug 32.10 35.05 9.19
• The proposed steel plant to be set up jointly by state
Pantaloon Retl 182.85 198.25 8.42
owned National Mineral Development Corporation
HPCL 279.60 297.10 6.26
(NMDC) and Russian Severstal in Karnataka may be
Thermax 428.95 449.65 4.83
commissioned by 2017.
Jet Air India 243.15 254.80 4.79
• Hinduja Foundries is planning to come out with a
(BSE Mid-Cap) `125Cr rights issue even as the country’s largest
Previous Current Change casting maker is facing delay in its proposed plant at
Company Name
Close(`) Price(`) (%) Toopran in Andhra Pradesh.
VIP Inds-$ 122.85 134.60 9.56
• The government has decided to ask the Life
Shree Renu Sug 32.10 35.05 9.19
Insurance Corporation (LIC) to consider picking up
Pantaloon Retl 182.85 198.25 8.42
10% stake in the troubled Kingfisher Airlines.
Arvind 85.20 90.25 5.93
GVK Power 10.61 11.23 5.84 US markets
U.S. blue-chip stocks rose Friday as a gauge of leading
TOP LOSERS indicators climbed, boosting views of the U.S. economy.
(BSE A-Group) But the major indexes lost about 3% for the week, their
worst performance in nearly two months.
Previous Current Change
Company Name
Close(`) Price(`) (%) The Dow Jones Industrial Average ended up 25.43
Pipavav Defence 69.35 55.50 -19.97 points, or 0.2%, to 11,796.16. The S&P 500 Index
Amtek Auto 110.55 95.30 -13.79 ended down 0.5 point, or 0.04%, at 1,215.65. The
IFCI 25.40 23.25 -8.46 Nasdaq Composite fell 15.49 points, or 0.6%, to
Suzlon Energy 25.60 23.80 -7.03 2,572.50.
Rashtriya Chem 65.00 60.50 -6.92
(BSE Mid-Cap)
Previous Current Change
Company Name
Close(`) Price(`) (%)
Parsvnath Dev 72.80 58.25 -19.99
Pipavav Defence 69.35 55.50 -19.97
Amtek Auto 110.55 95.30 -13.79
MVL 22.85 19.70 -13.79
Kwality Dairy 100.50 90.50 -9.95
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