1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Monday, October 24, 2011
Domestic Markets Snapshot Views on markets today
Name of Index Oct 20 Oct 21 Change (%) • Indian markets continued with losing streak for second
Sensex 16,936.89 16,785.64 -0.89% day and closed on negative note on Friday ahead of
CNX Nifty 5,091.90 5,049.95 -0.82% the RBI’s policy review and monthly derivatives
BSE Mid-cap 6,153.52 6,111.87 -0.68% contracts on Tuesday, with L&T among the big losers
BSE IT 5,547.50 5,525.64 -0.39% after the engineering and construction conglomerate
BSE Banks 11,169.27 11,094.31 -0.67% cut its order growth outlook. L&T lost as much as 3.6%
FII Activity (`Cr) as the company posted a 4.3% rise in quarterly net
profit, beating street estimates, slashed its order
Date Buy Sell Net
growth guidance for the current fiscal year on slowing
20-Oct 1469 1900 -431
investments and rising competition. As data showing
19-Oct 1776 1759 17
acceleration of food inflation early this month raised
Total Oct 28320 29115 -795 prospects of more rate hikes from the central bank to
2011 YTD 511978 514718 -2749 tame inflation, which remains uncomfortably high also
MF Activity (`Cr) led the markets to remain subdued. Except consumer
durable, all sectoral indices closed on negative note
Date Buy Sell Net
with real estate, capital goods, metal and FMCG stocks
20-Oct 303 490 -187
were major losers. DLF lost 2.47% after the SEBI said
19-Oct 423 433 -10
that it would investigate allegations the top-listed
Total Oct 6722 6629 93
realtor failed to disclose a police complaint against an
2011 YTD 107916 102597 5591
associate firm in its share sale document in 2007.
Volume & Advances / Declines Cairn India also lost 2.08% after Macquarie
NSE BSE downgraded the oil explorer to ‘underperform’ from
Trading Volume (`Cr) 8,909 2,343 ‘neutral,’ citing expensive valuations and on
Advances 520 1,112
expectations of a possible decline in crude oil prices.
Motorcycle makers Hero MotoCorp and Bajaj Auto rose
Declines 937 1,682
1.1% and 1.72%, respectively, on robust sales growth
Unchanged 74 126
expected in the run to the festive season. Maruti
Total 1,531 2,920
Suzuki gained 1.6% after the company said a labour
Global Markets unrest at its Manesar plant had been resolved and
Index Latest Values Change (%) operations at the facility would start on Saturday.
DJIA 11,808.79 2.3% • Market breadth was weak at ~0.66x as investors
NASDAQ 2,637.46 1.5% bought large cap stocks. FIIs sold equities worth
Nikkei * 8,798.81 1.4% `2.34bn while domestic institutions bought equities of
Hang Seng * 18,514.98 2.7% `0.74bn.
* as of 8.30AM IST
• Asian markets rallied on Monday after European
Currencies / Commodities Snapshot leaders flagged progress on a plan to resolve the debt
Latest Previous crisis that has roiled global markets.
Quote Close
Indian Rupee per $ 49.81 49.85 • We expect Indian markets to gain today as the cues
Indian Rupee per € 69.06 66.79
from the Asian markets are encouraging.
NYMEX Crude Oil($/bbl) 87.82 87.40 Economic and Corporate Developments
Gold ($/oz) 1,636.80 1,635.10
• India is likely to see 3,000 MW wind power addition in
Silver ($/oz) 31.36 31.17
2011.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • NMDC, which had entered into a deal to acquire 50%
Previous Current Change stake in Australia's Legacy Iron Ore last month, is
Company Name
Close (`) Price (`) (%) likely to decide on acquiring four more properties
JPINFRATEC 60.00 63.85 6.42 overseas by the end of this month.
Chambal Fert 87.15 89.90 3.16
• IDBI Bank plans to raise around $200mn from the
United Brew 408.85 420.35 2.81
Switzerland market under its medium-term foreign
Manap Gen Fin 56.45 57.70 2.21
debt raising programme.
Coromandel Intl 331.05 337.30 1.89
• Shriram Automall, a subsidiary of Shriram Transport
(BSE Mid-Cap) Finance Company, plans to open 50 automalls by
Previous Current Change 2013 with an investment of around `100Cr.
Company Name
Close(`) Price(`) (%)
Raymond 358.05 384.75 7.46
• Supreme Industries plans to invest `200Cr in the
current fiscal year.
GSFC 427.10 455.65 6.68
JPINFRATEC 60.00 63.85 6.42 • The government control over the price of diesel sold
FAG Bearings 1253.15 1326.90 5.89 by its companies has rendered over three-fourth of
Ramky Infra 218.40 230.70 5.63 Reliance Industries’ retail outlets non-operational
according to a company executive. RIL, which had
TOP LOSERS over 1,470 retail outlets, is said to be running only
350 of those at present.
(BSE A-Group)
• JSW Steel, currently running at a capacity of 50-60%,
Previous Current Change
Company Name is in talks with its long-term customers to raise steel
Close(`) Price(`) (%)
Jain Irrigation 130.25 123.65 -5.07 prices in the range of three-four per cent.
Asian Paints 3153.90 3015.25 -4.40 US markets
Union Bank 250.20 239.95 -4.10 US markets posted its third straight week of gains on
L&T 1385.05 1336.00 -3.54 Friday, lifted by optimism before the weekend's summit
Shree Cement 1899.00 1833.05 -3.47 of European leaders and strong earnings from blue-chip
(BSE Mid-Cap) stocks.
Previous Current Change The Dow Jones industrial average was up 267.01 points,
Company Name
Close(`) Price(`) (%) or 2.31%, at 11,808.79. The Standard & Poor's 500
Polaris Soft 137.10 128.65 -6.16 Index was up 22.86 points, or 1.88%, at 1,238.25. The
Kirloskar Oil 139.55 132.05 -5.37 Nasdaq Composite Index was up 38.84 points, or
MVL 26.25 24.90 -5.14 1.49%, at 2,637.46.
Jain Irrigation 130.25 123.65 -5.07
Prestige Estates 100.10 95.05 -5.04
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