Sensex ends down 901pts, SBI drops 9%...

The Sensex opened with a huge negative gap of 351 points at 17,228 on weak cues from the global markets. Selling gained momentum after the benchmark index slipped below the 17,000-mark.

The index tumbled to a low of 16,635 towards the end of the trading session. The Sensex finally settled with a loss of 901 points (5.1%) at 16,678 - the second-biggest single-day loss in absolute terms in history.

The NSE Nifty ended below its physchological 5,000-mark at 4,953 - down 271 points (5.2%).

The BSE market breadth was extremely negative - out of 2,766 stocks traded, 2,333 declined, 393 advanced and 40 were unchanged today.

INDEX SHAKERS....

SBI slumped nearly 9% to Rs 1,923. DLF and HDFC dropped around 8.5% each to Rs 715 and Rs 2,571, respectively.

BHEL tumbled 8% to Rs 2,099. Hindalco and NTPC declined 6.5% each at Rs 190 and Rs 189, respectively.

Reliance, ICICI Bank and Reliance Communications dropped around 6% each to Rs 2,305, Rs 1,024 and Rs 541, respectively.

Reliance Energy, Satyam and Larsen & Toubro slipped over 5% each to Rs 1,486, Rs 412 and Rs 3,344, respectively.

Infosys declined nearly 5% to Rs 1,472.

ITC, HDFC Bank and Bharti Airtel shed around 4.5% each at Rs 193, Rs 1,391 and Rs 791, respectively.

...AND THE SHAKERS

Cipla and Hindustan Unilever gained 2% each at Rs 212 and Rs 232, respectively. Ranbaxy added 1% to Rs 451.

VALUE & VOLUME TOPPERS

Essar Oil topped the value chart with a turnover of Rs 257.70 crore followed by Reliance Petroleum (Rs 237.80 crore), OnMobile Global (Rs 235 crore), Reliance (Rs 230.50 crore) and Reliance Capital (Rs 208 crore).

Reliance Petroleum led the volume chart with trades of around 1.42 crore shares followed by Reliance Natural Resources (1.21 crore), IFCI (1.09 crore), Essar Oil (1.02 crore) and Nagarjuna Fertilisers (99.70 lakh).

How BSE indices closed on Monday, March 3...

My wife has returned home this evening...

After 36 days in hospital (out of which 13 days were in ICU - the first 4 days of which were on life-support systems), Priti has returned home this evening (at 8 p.m.).

Priti is completely cured of septicemia and all her major organs, excepting for her kidneys, are functioning normally. By God's grace, her kidneys will also recover - until then she will be on twice a week dialysis.

Five weeks ago, this time, we had no assurance from the doctors whether Priti would leave the ICU alive. The marvels of modern medical science, coupled with prayers and good wishes from innumerable friends, relatives, office colleagues, SOS-India children and mothers and countless well wishers have brought Priti back to her family. My thanks to all of you.

My thanks also to the relatives and friends who have donated the innumerable pints of blood that were required during the early days of the crisis. Thanks also to all those who extended moral and physical help (including night stay duty) - and to the relatives and my Campus Law Centre friends for their direct and indirect financial support.

God bless you all!

Priti's Septicemia is almost cured...she has moved from bed to wheelchair...

Happiness...Priti's TLC count, this morning, has come down below the critical 11,000 mark - it is now 10,700. The blood poisoning seems to have been cured, though we will observe the count for a couple of days more for stability.

Priti is clear that her kidneys have started functioning a bit. The doctors have to confirm. A biopsy is planned.

Yesterday, after three and a half weeks of being in a horizontal position, Priti moved from bed to wheelchair.

Priti is making slow but steady progress...

Priti is making slow but steady progress. Her TLC count had come down to 14,800 three days ago - but then shot up to 16,200 the next day (after dialysis), giving us a bit of a scare. However, it came down to 13,300 the day after, and, this morning, after a very early morning dialysis, has come down further to 12,700. We are within reach of normalcy - which will be indicated by a TLC count of 11,000.

Doctors have discovered a thyroid problem - this could have been the reason for her sluggishness and lethargy and lack of appetite. It is being treated...in fact, this morning, Priti is extremely chirpy, God bless her! She is also eating well.

The prayers and wishes of all our friends, relatives and well wishers are working very well...I request you all to keep up the good work. I thank the children and mothers of SOS Children's Villages around the country and my co-workers for their regular prayers for my wife recovery.

Priti's kidneys are showing some movement towards recovery (in terms of urea and cretinine indicators). It is early days yet - but I am convinced that they will recover.

Priti's stay in hospital has been extended. She will not come home this week but, maybe, early next week. The antibiotic treatment will continue until the TLC count stabilises below 11,000. The alternate day dialysis will continue until the kidneys show stronger recovery.

Priti's BP, platelet count and HB count are stable and normal.

Thank you so much for your support. And those who gave blood - thanks again.

Priti's septicemia is almost cured...she is talking and eating normally...

Priti's TLC count is now down to 14,300 - just 3,300 points away from absolute normalcy. At this rate, she should be cured and out of the hospital by Tuesday/Wednesday. Her HB count is a normal 9.3. Her platelet count is 1,20,000...which is also high enough and good.

Priti's urea and cretinine counts are high - her kidneys are still not doing the job they are supposed to do. Therefore, alternate day dialysis continues - the next one being today.

We are hoping and praying that her kidneys resume functioning in a week or two.

Update on my wife's condition...

Priti is making steady progress, thanks to the wishes and prayers of innumerable friends and well wishers. Her TLC is down to 17,100 - down from 80,000 over two weeks ago. The requirement is 11,000 - this will show that the septicemia (blood poisoning) is out of her system. Hopefully, she will reach this figure in 3/4 days. Her BP is steady at 130. Her platelet count is maintained at an excellent 1,50,000. Her HB count is 9.8 - better than her normal count of just 7.4 earlier. She has stopped vomiting out bile - her liver seems to have recovered and she has started eating reasonably from yesterday.

Priti was slightly depressed for a couple of days - she was not talking, eating or opening her eyes. This has changed a bit yesterday - she is responding to family and friends. All that is now needed is for her kidneys to resume functioning. Until then she is on alternate day dialysis - to remove toxins from her system.

If the TLC count comes down to 11,000 in 3/4 days, she could be discharged from hospital and return home by middle/end of next week.

Family, friends and well wishers (including the vast SOS family worldwide - the organisation I work for) have rallied behind my daughters and me in our hour of crisis with prayers, blood donations and even financial support. I would like to place on record my thanks to my law college friends, some of who are now leading judges and lawyers of India, who organised a collection drive to help meet a part of Priti's hospitalisation costs. May God bless all my family members and friends for caring so much.

Priti is out of ICU...

Priti being transferred to her room...

Priti has been moved out of ICU after a 13 day stay and is now comfortably settled in her own private room in Apollo Hospital.

The prayers and wishes of friends, relatives, office colleagues, neighbours, acquaintances and well wishers (not to mention the large numbers of blood donations) have ensured that she is out of danger - she is no longer critical.

Priti's TLC is down to 24,000 (it was 80,000+ last week). This means that the septicemia is slowly but surely receding.

Her platelet count has gone up from under 20,000 to 1,77,000 (without the support of any plasma or platelet transfusion in the last 3 days). Her blood pressure is finally stable (it has gone up to 120+ from under 70).

Priti's HB is 8.9 - it was only 7.4 yesterday, but a blood transfusion in the evening has pushed it up.

We are now waiting for her kidneys to start functioning again. A MR scan two days ago indicated that the collapse has been "acute" - so the recovery may take a little longer. She needs dialysis every alternate day. Please pray for her complete recovery.

I thank all friends, relatives, office colleagues, neighbours, acquaintances and well wishers for their support and prayers.

Priti is critical...

On Saturday, January 19th, Priti - my beloved wife of 18 years - underwent a minor gynecological operation in a reputed hospital near our home. The operation was a success. Priti was scheduled to return home the next morning.

While Priti rested in her room with my mother-in-law sitting by her bedside, my two daughters and I went to a nearby restaurant for a celebratory lunch.

Our happiness was terribly premature. Destiny has not been kind to us. On Saturday evening, hours after the operation, Priti had to be rushed to the ICU in a critical state. Apparantly, a blood transfusion post-surgery caused a severe reaction in Priti's body - some of her organs (kidneys and lungs) had shut down and her blood had got badly infected - she had become a victim of blood poisoning (septicemia).

On Sunday morning, she was shifted to one of the best hospitals in Delhi (Apollo) - and she has been in the ICU there ever since, on life-support. She remains extremely critical. Please please pray for her.

She may have a surgery tomorrow morning.

Friends, relatives and office colleagues have overwhelmed us with their support. We have received innumerable pints of blood - more has been committed.

Priti's life hangs on a thread - my daughters Piya and Panvi and I need your prayers.

How BSE indices closed on January 15th...

How BSE indices closed on January 14th...

Mkts to stay volatile in run up to Budget say experts

Jyotivardhan Jaipuria, Head of Research, DSP Merrill Lynch, has said the run up in midcaps had been sharp. "We are seeing a correction now." He was speeaking on CNBC TV 18. India has done well as compared to other emerging markets, he added.

According to Jaipuria, the markets are likely to remain flat up to the Budget. "The trend is likely to remain volatile. We are looking for cues from the Budget."

Shankar Sharma of First Global has said that there is a 70-80% chance of a substantial downside from here. He was also speeaking on CNBC TV 18."The risk-reward ratio has turned unfavourable. There is not much action visible in largecaps. I am also not comfortable with the market internals."

He feels the correction in midcaps was due as the stocks had rallied a lot. "The markets are in shaky territory. I am not comfortable trading in the last few days," he added.

January 11th: Consumer Worries Damp US Stocks

Forget houses. Now Americans are cutting purchases of everything from burgers to diamond rings.

Investors unloaded shares feverishly as their focus shifted from the mortgage debacle's effect on financial firms to the harm the crisis is exacting on the economy's other cogs, especially consumer spending.

The Dow Jones Industrial Average ended down 246.79 points Friday, down 1.9%, at 12606.30, off 5% so far in 2008. American Express, a component of the average, tumbled by 10% after warning it will have to take a charge of $440 million before taxes in the fourth quarter to cover higher delinquencies and loan write-offs.

Other credit-card issuers watched their shares tumble in the wake of American Express's announcement, which raised anxiety that stretched consumers at all income levels may be having trouble paying their bills. Capital One Financial, which had warned earlier this week about a darkening outlook, declined 0.8%. Discover Financial shares dropped 3.7% and MasterCard fell 8.6%.

In another worrisome signal about affluent consumers, Tiffany & Co. slid 11.2% after trimming its fiscal-year profit outlook. Chief Executive Michael J. Kowalski said while sales growth was strong in key overseas markets, the jewelry retailer's U.S. sales softened during the recent holiday season.

Spending worries also ate into McDonald's shares, which fell 6.6% after an independent analyst's survey showed tepid growth in the chain's same-store sales in December. Analysts at Friedman Billings Ramsey issued the equivalent of a "hold" rating on McDonald's, citing "reservations" about its future results.

The Standard & Poor's 500 was down 1.4%, or 19.31 points, at 1401.02, led lower by consumer stocks. The broad measure's financial components gained nearly 1% as a group, although there were still a few big losers offering stark reminders of the lingering risks from bad mortgage bets on Wall Street. For the year, the S&P is down 4.6%.

The tech-focused Nasdaq Composite Index fell 2%, or 48.58 points, to 2439.94, down 8% on the year.
Bank of America meanwhile confirmed that it had reached a $4 billion all-stock deal to acquire Countrywide Financial. When news that such a deal was in the works broke yesterday, it caused a big stock-market jump on renewed optimism that other troubled lenders might garner new investments to buoy their financial outlook. But that hope quickly dissipated Friday morning. Countrywide's shares plunged 18.3% and Bank of America ended down 2%.

Not all financials skidded, however. Investment banks, including Merrill Lynch and Bear Stearns, made solid gains. Fannie Mae and Freddie Mac were higher by over 5% each. Bond insurer MBIA jumped 17.6%, and rival Ambac Financial Group was stronger by 12%.

With a flurry of financial firms expected to report earnings next week, analysts are bracing for more bad news. According to Reuters Estimates, a New York firm that tracks Wall Street's earnings forecasts, the consensus expectation is that aggregate fourth-quarter earnings at S&P 500 companies will show a 9% decline over the year-ago period once all the latest reports are in hand, led by a 68% plunge in the financial sector's earnings.

How US markets closed on January 11th...

Major gainers and major losers on January 11th...

January 11th: Sensex ends up 245pts; ICICI Bank soars 6%

The Sensex opened with a positive gap of 121 points at 20,703. Follow-up selling saw the index slip into the negative zone to a low of 20,506 - down 197 points from the day's open.

The index, thereafter, gyrated between zones for most of the trading day. Aggressive buying towards the close saw the index surge to a high of 20,895 - up 389 points from the day's low.

The Sensex finally ended with a gain of 245 points at 20,827.

While the Small-cap index slipped 1.3% to 12,694, the Mid-cap index ended flat at 9,438.

The NSE Nifty recovered from a low of 6,113, and touched a high of 6,224, before finishing with a gain of 43 points at 6,200.

The market breadth was fairly negative - out of 2,864 stocks traded, 2,091 declined, 739 advanced and 34 were unchanged today.

INDEX MOVERS...

ICICI Bank zoomed over 6% to Rs 1,440. DLF soared 4.7% to Rs 1,196.

Reliance rallied 3.3% to Rs 3,128. HDFC Bank and NTPC surged around 2.5% each to Rs 1,762 and Rs 272, respectively.

Tata Motors advanced 1.8% to Rs 762, and TCS added 1.5% to Rs 989.

ITC gained 1.3% at Rs 223. SBI, ONGC and Cipla were up over 1% each at Rs 2,437, Rs 1,307 and Rs 204, respectively.

...AND THE SHAKERS

ACC plunged 4.3% to Rs 898. Mahindra & Mahindra tumbled 3.5% to Rs 775.

Satyam and HDFC slipped 2.2% each to Rs 411 and Rs 3,061, respectively.

Ambuja Cements and Hindustan Unilever shed 2% each at Rs 139 and Rs 224, respectively.

Infosys declined 1.4% to Rs 1,580, and Maruti was down 1% at Rs 899.

VALUE & VOLUME TOPPERS

Reliance Natural Resources topped the value chart with a turnover of Rs 561 crore followed by Aries Agro (Rs 480.80 crore), Reliance Petroleum (Rs 392.70 crore), Reliance (Rs 296 crore) and Reliance Capital (Rs 255.60 crore).

Reliance Natural Resources led the volume chart with trades of around 2.77 crore shares followed by Aries Agro (2.14 crore), Reliance Petroleum (1.80 crore), Ispat Industries (1.28 crore) and IFCI (1.20 crore).

FIIs net buyers of Rs 107cr in cash market on January 11th...

Foreign institutional investors (FIIs) were net buyers of Rs 107.40 crore (provisional) today, January 11th, according to data released by BSE.

While FIIs made gross purchases of Rs 3,807.29 crore, gross sales totalled Rs 3,699.89 crore.

Domestic institutional investors (DIIs) were net buyers of Rs 1.92 crore today. While DIIs made gross purchases of Rs 1,298.51 crore, gross sales totalled Rs 1,296.59 crore.

FIIs were net sellers of Rs 630.80 crore on Thursday, January 10, according to data released by Sebi today. While FIIs made gross purchases of Rs 4,334.20 crore, gross sales totalled Rs 4,965 crore.

Mutual funds (MFs) were net buyers of Rs 46.40 crore on Thursday. MFs made purchases of Rs 1,204.70 crore and sales of Rs 1,158.40 crore.

Infosys expects 19% y-o-y rise in Q4 net

Infosys expects consolidated income in the Q4 to grow around 19% in the range of Rs 4,477 crore to Rs 4,501 crore.

According to a release issued by the company to the BSE today, the company expects EPS growth of 5.3% on year-on-year basis to Rs 21.38.

For the full-year ending March 2008, the company expects income in the range of Rs 16,627 crore to Rs 16,651 crore - up nearly 20%. EPS for FY08 is expected to be Rs 81.07 - up 17.1%.

Infosys Q3 net up 25%, top-line grew 17%...

Bangalore-based India's second largest software exporter, Infosys Technologies, historically has a seasonally-weak third quarter. This third quarter was no different.

Though the company registered a net profit (Indian GAAP) of Rs 1,231 crore for the third quarter ending December 31, 2007 - 25% increase when compared to the figure of the corresponding quarter last financial year - the figure included a reversal of tax provision of Rs 50 crore. The company' share price lost 1.38% to touch Rs 1580.10 on the Bombay Stock Exchange.

The top-line (year-on-year) rose by 17% to reach Rs 4,271 crore. However, on a sequential (compared to the trailing quarter) basis, the revenue increased by a mere 4%. The figure was lower that analyst expectations of a 5-6% top-line growth. The company's sequential net profit, on the other hand, rose by 12%. However, excluding the tax write-back, it grew by 7.4%.

On the other hand, the growth in dollar terms (US GAAP) was decent at 6.1%. Volume growth, aided by price increases proved to be the key driver of the top-line.

Infosys managed to surprise the market with its EBITDA (operating profit) margin expanding by 1.3% sequentially to 32.6%, led by an increase in offshoring and fixed priced contracts, coupled with scale benefits that resulted in reducing the selling, general and administration (SG&A) expenses. Offshore revenues increased from 51.2% in the trailing quarter to 52.2% in the third quarter. The contribution of revenues from fixed price contracts also increased from 29.8% in the second quarter to 32.8% in Q3. Offshore billing rates saw a rise of 1.3%, while onsite rates grew by 1.1% sequentially.

Meanwhile, the earnings per share (EPS) increased to Rs 21.54 from Rs 17.64 for the corresponding quarter in the previous year. The other income was Rs 158 crore as against Rs 154 crore in the second quarter of FY 2008. Infosys has guided towards a growth of 4.8–5.4% in revenues and 5.3% in EPS for the fourth quarter ending March 31, 2008.

The company’s consolidated income has already crossed $3 billion mark ($3.03 billion) and is set to cross the $4 billion mark in consolidated revenue at the end of current fiscal (2007-08) under US GAAP -- projecting 35% year-on-year growth. In rupee terms, it expects to close the year in the range of Rs 16,627 crore and Rs 16,651 crore in revenue, a year-on-year growth of 19.7% to 19.9%.

Downplaying the threat of recession, Gopalakrishnan said, "There is no visibility of the IT budget being impacted by a possible recession or slow down. The environment is positive and growth looks favourable though the macro-environment is challenging. The outsourcing/off-shoring of IT services will continue to grow by 25-30%, as maintained by Nasscom."

Infosys CFO V Balakrishnan said the growth was aided by various factors. "We have seen a 3-4% increase in pricing for new contracts. Even those which have been renewed have been done at higher price point. Contract re-negotiations have been in our favour. The outlook on the pricing front is positive," he added.

Infosys now sits on over $2 billion (Rs 7,933 crore) of cash which gives it a formidable armoury for acquisition. In comparison, its ability to invest on organic growth was limited (Rs 325 crore during the quarter). Unless this cash is not spent on acquisitions, it has to be returned to shareholders.

Q3 figures in a nutshell:

* Revenue growth: 17% YoY; 4% Q-o-Q
* Net profit growht: 25% YoY; 12% Q-o-Q
* Growth outlook for FY08: 19.7-19.9%
* Revenue crosses $3 bn in nine months

What the figures tell:

* Volume growth of 4% very disappointing
* Excluding the tax write-back, net profit grew by 7.4% Q-o-Q
* But operating margin improved by 1.3%: 31.27% to 32.59%
* Kept costs under control; reduced SG&A expenses
* Scale benefits added 1.4% to margins
* 47 clients added this quarter; closed 9 multi-million dollar deals
* Growth rate of BFSI revenue increases; client additions increase
* Productivity improvement adds 0.8% to margins
* Employee utilisation slightly lower due to trainee hiring
* Lost Rs 2,100 crore due to rupee appreciation so far this year
* Hedging covers two quarters exposure (around $1 bn)
* Marginally revises revenue guidance upwards
* Attrition 13.7%; Total employees: 88,601 (added net 8,100 this quarter)
* 35% of employee salaries in India are variable

How BSE indices closed on January 11th...

Sensex ends 2007 with gain of 47%...

The main index of the Bombay Stock Exchange, the Sensex, ended the year today with a gain of 47.1% in 2007. In absolute terms, the surge of 6,500 points in 2007 is the highest-ever in over two decades of history of the Sensex. When it comes to percentage gain, the highest was recorded in 2003 when the index gained 73%.

The Sensex stood at 13,786.91 points at the end of 2006, and closed the year 2007 at 20,286.99 points today. It crossed seven thousand-point milestones - from 14,000 to 20,000 - during the year, which is the maximum for a year.

The surge of 47.1% in 2007 is higher than the 46.7% gain in 2006 when the Sensex had gained 4,388 points.

The Sensex had risen 42.3% in 2005 and 13.1% in 2004. In absolute terms, the Sensex had moved up by about 2,800 points and 765 points in 2005 and 2004, respectively. In 2003, when the Sensex soared 73%, it had gained 2,461 points in absolute terms.

The market capitalisation of all listed companies rose by more than Rs 35,00,000 crore to Rs 71,69,983.31 crore at the end of 2007.

How the major indices fared in 2007...

The biggest winners and losers of 2007 on the sensex...

December 31st: Sensex ends up 80pts, Bharti zooms 6%...

The Sensex opened with a positive gap of 116 points at 20,323, and soon rallied to a high of 20,484 - just 14 points off the all-time peak of 20,498.

The index, thereafter, pared gains and exhibited steady movement for most part of the trading day. Some profit-taking towards the end saw the index finally end with a gain of 80 points at 20,287.

In the process, the index ended calendar year 2007 with a huge gain of 45.7% (6,300 points).

The NSE Nifty surged to a high of 6168 in opening trades - just 17 points short of its peak of 6185. The index finally settled with a gain of 59 points at 6139, and gained 54.8% (2,172 points) in 2007.

The market breadth was extremely positive - out of 2,929 stocks traded, 2,542 advanced, 372 declined and 15 were unchanged today.

INDEX MOVERS...

Bharti Airtel zoomed nearly 6% to Rs 995. NTPC advanced nearly 4% to Rs 250.

Mahindra & Mahindra surged over 3% to Rs 861. Ranbaxy and ITC rallied nearly 2.5% each to Rs 426 and Rs 210, respectively.

Reliance Communications moved up nearly 2% to Rs 747. ACC and Tata Motors added 1.5% each to Rs 1,024 and Rs 742, respectively.

...AND THE SHAKERS

HDFC dropped 1.8% to Rs 2,872.

Ambuja Cements and Infosys slipped 1.5% each to Rs 147 and Rs 1,768, respectively.

Hindustan Unilever, Cipla and Reliance Energy were down around 1% each at Rs 213, Rs 213 and Rs 2,135, respectively.

VALUE & VOLUME TOPPERS

IFCI topped the value chart with a turnover of Rs 313.30 crore followed by debutant eClerx (Rs 275.60 crore), Reliance Natural Resources (Rs 215.30 crore), TRIL (Rs 191.60 crore) and another new entrant Brigade (Rs 183.20 crore).

IFCI led the volume chart with trades of around 3.48 crore followed by G V Films (2.54 crore), Ispat Industries (1.66 crore), GTL Infrastructure (1.63 crore) and Tata Teleservices (1.42 crore).

New Snapshots...December 31st:

# Sensex ends up 80pts, Bharti zooms 6%


# Crisil gives 4/5 rating to Rel Power IPO


# FIIs net buyers of Rs 516cr in cash market


# Sebi waives MF entry loads from Jan 4


# Maharashtra ups realty prices in reckoner


# Sensex ends 2007 with gain of 47%


# Tata Steel, SAIL to form JV for coal mining


# Govt may ask GSM players to return spectrum


# Current account deficit drops to $5.5bn


# Govt cuts onion export price by $50/tn


# Productivity can tackle Re worry: Infosys CEO

How BSE indices closed on December 31st...

Weekly Market Review: Markets to test new highs...

The markets witnessed a smart rally last week with the benchmark indices, the Sensex and Nifty, surging 5.5 per cent each.

The Sensex began the week with a bang on Monday by rising 691 points, and thereafter rallied past the 20,000 mark to touch a high of 20,324. It finally ended with a gain of 5.5 per cent (1,044 points) at 20,207.

The index seems poised to test new highs, technically. However, unfavourable external events may trip the current upmove.

The Sensex may face resistance around 20,595-20,715-20,835 this week, while it may find support around 19,820-19,700-19,575 on the
downside.

The Nifty rallied to a high of 6,111 before settling with a gain of 5.4 per cent (313 points) at 6,080.

The moving average convergence divergence (MACD) crossed the signal line, which indicates bullishness.

The Nifty’s short-term (20 days) moving average is 5,928 and the mid-term (50 days) moving average is 5,786. These should act as support levels in case of a decline.

The Nifty is on firm ground and is likely to gain momentum above 6,150. Its support and resistance levels are placed at 5,950-5,910-5,870 and 6,210-6,250-6,290 respectively.

I will return to this blog over the weekend...

I am proceeding on a three day tour...I will return to this blog over the weekend.



Till then, let's hope the bulls keep charging!

Sensex ends down 180pts on December 18th; Cipla gains 4%, HUL drops 3%...

The Sensex opened with a positive gap of 78 points at 19,339, and touched a high of 19,375 in morning deals.

A late bout of selling saw the index plunge to a low of 19,009 - an intra-day swing of 366 points.

The Sensex finally closed with a loss of 182 points (0.94%) at 19,080.

The market breadth was bearish - out of 2,930 scrips traded, 1,669 declined and 1,227 moved up today.

INDEX LOSERS....

Hindustan Unilever dropped over 3% to Rs 211.

L&T slipped nearly 3% to Rs 3,968.

HDFC and ICICI Bank declined over 2% to Rs 2,812 and Rs 1,141, respectively.

Reliance was down 1.8% at Rs 2,729.

ONGC, HDFC Bank, REL and M&M also declined today.

.... AND GAINERS

Cipla was firm right through the day, and finished with a gain of nearly 4% at Rs 216.

ITC was up 2% at Rs 198.

NTPC and Ranbaxy closed with gains of over 1% each at Rs 232 and Rs 410, respectively.

MOST ACTIVE COUNTERS

ONGC was the most active counter with a turnover of Rs 388 crore followed by Ispat (Rs 260 crore), Reliance Petroleum (Rs 227 crore), Reliance (Rs 174 crore) and Reliance Capital (Rs 133 crore).

How BSE indices closed on December 18th...

Markets plunge on December 17th; highest single day fall for Nifty

The markets after opening on weak note today in line with global peers proceeded to trade weak for the whole day and succumbed to heavy profit booking in late trade and finally ended in deep red. Heavy selling was witnessed in the metal, realty, power and oil & gas stocks.

Banking, auto and cap goods were also weak, however the pharma and FMCG stocks were little resilient to the free fall in the first half but they also slipped in the later part. Midcap and smallcap index also ended with deep cut. Market breadth was negative at the time of closing but the volume was realtively impressive.

Sensex witnessed second highest single day fall today and ended down 769.48 points or 3.84% at 19261.35, and the for the Nifty, it was biggest ever single day fall and it was down 270.70 points or 4.48% at 5777. About 1115 shares have advanced, 1950 shares declined, and 28 shares are unchanged. BSE midcap was down 3.87% at 9105.58. Smallcap was down 2.91% at 11840.02.

Sectoral Performance

BSE auto index was down 3.04% at 5569. TVS Motor, Hind Motors, Ashok Leyland, Escorts and Tata Motors ended with huge cut in the auto space.

BSE bankex was down 3.67% at 10919.22. Kotak Mahindra, Oriental Bank, Andhra Bank, Allahabad Bank and PNB were the top losers.

BSE cap good index was down 3.69% at19219.52. Praj Industries, AIA Engineering, Punj Lloyd, Suzlon Energy and Gammon India were top losers.

FMCG index was down 2.33% at 2211.07. Bata India, Tata Tea, Dabur India, Marico and GlaxoSmith Consumer lost maximum.

BSE pharma index was down 2.55% at 4198.20. Divis Labs, Orchid Chemical, Biocon, Lupin and Cadila Health were among the top losers.

BSE IT indesx was down 2.16% at 4167.60. Financial Tech, I-Flex Solution, Patni Computer, Tech Mahindra and TCS ended with deep cut.

BSE metal index was down 7.28% at 18324.50. JSW Steel, Jindal Steel, Jindal Saw, Shree Precoated and Sterlite Ind were the hardest hit counters.

BSE oil & gas index was down 5.13% at 12314.72. Essar Oil, HPCL, Reliance Natural, IOC and Petronet LNG were the top losers.

BSE power index was down 4.80 at 4222.68. NTPC, GMR Infra, Suzlon Energy, Crompton Greave and Power Grid Corp were some of the top losers.

BSE realty index was down 5.65% at 11699.36. Puravankara Pro, Peninsula Land, Indiabulls Real, Mahindra Life and DLF were the hardest hit stocks.

Turnover Today: Turnover was quite impressive today. On BSE cah, it was Rs 9583.55 cr, NSE cash, the volume was Rs 20390.83 cr, NSE F&O was Rs 73373.36 cr and total volume was Rs 103347.74 cr.


Markets Today

Markets sell off amidst global fears of US recession
Sensex down 769 pts at 19261; Off 770 pts from days high
Nifty down 271 pts at 5777; Off 260 pts from days high (Highest Intraday sell off)
CNX Midcap down 4.1%; BSE Smallcap Index down 2.9%
All sectoral indices end in red
All Nifty stocks barring HUL end in red
BSE Metals Index lead the fall from the front; Index down 7.3%; SAIL down 7.3%, Nalco down 6.6%, Sterlite down 6.6%, Tata Steel down 6.1%, Hindalco down 5.8%
BSE Realty Index down 5.6%; DLF down 7.7%, Unitech down 2.7%
BSE Oil & Gas Index down 5.1%; RPL down 6%, ONGC down 5.9%
BSE Bank Index down 3.7%; PNB down 5.2%, SBI down 3.9%
BSE Capital Goods Index down 3.7%; BHEL down 5.3%, REL down 4.4%
Advance-Decline ratio is at 1:5
Total market turnover at Rs 1.03 lakh cr vs Rs 90,029 cr on Friday
Total F&O turnover at Rs 73,373 cr vs Rs 61,326 cr on Friday

Sensex ends down 769pts on December 17th, DLF and NTPC drop 7%...

The Sensex opened almost flat at 20,033 - up two points - but slipped soon on the back of weak global cues.

A heavy bout of selling in the late noon deals saw the index plunge to a low of 19,177 - down 856 points from the day's open.

The Sensex finally ended with a huge loss of 769 points (3.8%) at 19,261.

The market breadth was fairly negative at close - out of 2,954 stocks traded, 1,939 declined, 999 advanced and 16 were unchanged today.

INDEX DRAGGERS

DLF and NTPC slumped over 7% each to Rs 944 and Rs 229, respectively.

Tata Steel and HDFC plunged 6% each to Rs 824 and Rs 2,878, respectively.

ONGC and Tata Motors tumbled 5.8% each to Rs 1,166 and Rs 701, respectively.

Hindalco and Reliance Communications shed 5.5% each at Rs 201 and Rs 718, respectively.

BHEL and Bharti Airtel dropped over 5% each to Rs 2,425 and Rs 905, respectively.

SBI, Ranbaxy and Reliance declined around 4% each to Rs 2,315, Rs 406 and Rs 2,778, respectively.

ICICI Bank and TCS slipped 3.3% each to Rs 1,167 and Rs 1,010, respectively.

Hindustan Unilever was the sole gainer at Rs 219 - up nearly 1%.

MOST ACTIVE COUNTERS

IFCI topped the value chart with a turnover of Rs 457.70 crore followed by Ispat Industries (Rs 309.50 crore), Kolte Patil (Rs 287.60 crore), HDFC (Rs 204.55 crore) and Reliance Petroleum (Rs 196 crore).

G V Films led the volume chart with trades of around 5.05 crore shares followed by IFCI (3.97 crore), Harig Cranks (3.81 crore), Ispat Industries (3.70 crore) and Bellary Steel (2.60 crore).

Major gainers and major losers on December 17th...

AVOIDING A U.S. RECESSION...

As economists ponder whether a U.S. recession is inevitable, the Wall Street Journal has taken a look at some strong arguments that the U.S. economy might avoid such a painful downturn, noting that in the latest WSJ.com survey of economists and forecasters on average put the chance of a recession at 38%.

For one thing, while the U.S. Federal Reserve has already cut its main short-term interest-rate target by a full percentage point since August and is expected to further ease rates through the middle of next year, recessions typically don't begin when interest rates are as low as they are now.

Another factor is that global economic growth is raising demand for U.S. goods, offsetting softer domestic consumption. Emerging markets, which buy more than half of U.S. exports, continue to grow, some at an accelerating pace, even as industrialized economies cool. In addition, the job market is signaling a modest slowdown in hiring but not a sharp increase in layoffs. In fact, growth in service jobs remains robust, and most sectors outside housing and finance remain afloat.

How BSE indices closed on December 17th...

New Snapshots...December 17th

# Sensex ends down 769pts, DLF drops 7%


# Cement industry denies cartelisation


# Edible oil import up 38% in Nov


# ICL announces eventful season for 2008


# Oil India files papers for IPO


# Educomp's US arm in JV with Learning.com


# FXLabs acquires US online gaming firm


# Maruti to start designing cars from 2010


# Kuoni named best global tour operator


# Apeejay Shipping to pay $130mn for 3 carriers


# BHEL and NTPC ink JV pact for EPC biz


# Indiabulls gets Delhi HC nod for biz rejig

Inflation Fears Send The Dow Down 178.11 On December 14th...

Source:


US markets shuddered on Friday, December 14th, at the notion that the latest cycle of Fed rate-cutting might be cut short by inflation concerns, sending stocks to their lowest close in more than a week.

The Dow Jones Industrial Average sank 178.11 points, or 1.3%, to close at 13339.85, its lowest close since Dec. 4. The blue-chip average ended the week down 2.1%, its worst weekly performance since the week ended Nov. 9, though it is still up 7.0% this year.

Weekly Mkt Review: Sensex ends above 20K...

The benchmark indices, Sensex and Nifty, closed above the 20,000 and 6,000 levels, respectively, for the first-time ever during the week ended December 14.

The market was strong throughout the week on the back of the smart rally in small-cap and mid-cap shares. The small-cap and mid-cap indices, too, hit new closing peaks on sustained buying.

Frontline stocks, however, were under pressure as foreign institutional investors (FIIs) booked profits in high-priced stocks.

The main index of the Bombay Stock Exchange, the Sensex, ended the week at 20,030.83 - a net gain of 64.83 points (0.32%) over the previous weekend close of 19,966.

The S&P CNX Nifty of the National Stock Exchange hit an all-time high of 6,185.40 before ending the week at 6,047.70 as against the last weekend close of 5,974.30 - a net rise of 73.40 points (1.23%).

The US Federal Reserve's decision to lower interest rates by 25 basis points helped sentiment to some extent even though it had already been factored in, analysts said.

The robust growth in the index of industrial production to 11.8% in October from 4.5% in the year-ago period also boosted sentiment.

Considering the Sensex's slide below the 20K mark on Friday from the Thursday's all-time intra-trade high of 20,498.11 and weakness in the global markets, market players are not ruling out further correction in the coming week.

Markets this week - a snapshot...

Sensex up 0.3%, Nifty up 1.2%
CNX Midcap Index up 5.5%, BSE Small Cap index up 7.5%
BSE Healthcare Index up 7.6%, Realty Index up 7.3%, Metals up 5.5%
BSE FMCG Index up 3.7%, Oil & Gas Index up 2%, Auto Index up 1.5%
BSE IT Sector Index down 4%, Cap Goods down 1.9%
Nifty Gainers - Nalco up 18%, GSK Pharma , Jet Airways up 14% each, GAIL up 9%, HPCL up 8%, Dr Reddy's up 8%, ITC, Cipla up 6%
Nifty Losers - Satyam, BHEL down 7%, Infosys down 5%, HCL Tech, ICICI Bk, Tata Motors down 3% each
Midcap Gainers - SPARC up 62%, Lanco up 46%, Guj Sidhee up 44%, Ansal API up 42%
Small Cap Gainers - Vardhman Acrylic up 86%, Visu Intl up 45%, KCP Sug up 44%

December 14th: Mkts end flat: FMCG, pharma up; banks, cap goods down...

The markets ended the day's trading on December 14th with modest loss amid volatile trade due to lack of triggers through the day and that was in line with global peers. Asian indices also ended lower Japan's Nikkei was down 0.14%, Hong Kong's Hang Seng slipped 0.65%, Taiwan's Taiwan Weighted dipped by 0.85%, Strait Times was down 0.37% and Seoul Composite ended lower by 1.09%.

Auto, banking, Capital goods, power and telecom stocks witnessed profit booking whereas FMCG, pharma and oil stocks continued positive momentum.

The Sensex was down 73.56 points or 0.37% at 20030.83, and the Nifty down 10.40 points or 0.17% at 6047.70.

The BSE Midcap Index was up 1.02% at 9,471.94 and Small Cap up 1.57% at 12,195.50.

Market breadth was positive. About 2178 shares have advanced, 873 shares declined, and 40 shares remained unchanged.

NSE and BSE cash turnover for the day stood at Rs 19,272 crore and Rs 9,429.4 crore. NSE F&O turnover was at Rs 61,326 crore and total at Rs 90,028 crore.

Top gainers on the bourses were ACC (3.58%), Ranbaxy Labs (2.69%), Cipla (2.65%), Hindustan Unilever (2.33%), GSK Pharma (5.17%) and Cairn India (3.2%) while losers were HDFC (3.43%), Bharti Airtel (3.43%), ICICI Bank (2.89%), Tata Motors (2.4%) and Satyam (2.36%).

Sun TV Network, Kaushalya Infrastructure, Kolte-Patil, Reliance Industries, JP Hydro and IFCI were most active shares on the bourses.

Kaushalya Infrastructure closed at Rs 82.45 versus issue price of Rs 60.

Banking stocks lost the ground today due to profit booking in Kotak Mahindra Bank, ICICI Bank, Karnataka Bank, HDFC Bank and Union Bank of India. The BSE Bankex slipped 1.39% at 11,335.47.

Selling pressure was also seen in capital goods stocks as Areva T&D, Alfa Laval, BEML, Crompton Greaves and L&T ended lower. The BSE Capital Goods Index was down 0.99%, at 19,862.51.

The BSE Auto Index declined 0.38% at 5,743.80 due to fall in MRF, Bharat Forge, Tata Motors, Hindustan Motors and Cummins India.

Power stocks lost the ground on account of selling in Areva T&D, GVK Power, Torrent Power, Siemens and BHEL. The BSE Power Index dipped 0.76% at 4,435.53.

Profit booking was also seen in technology stocks in late trade. The BSE IT Index was down 0.57% at 4,259.76 on the back of drop in Satyam, Tech Mahindra, i-flex Solutions, Mphasis and Wipro.

The BSE Metal Index ended flat at 19,763. Metal stocks like SAIL, Tata Steel, Maharashtra Seamless and Jindal Stainless lost shine today.

Telecom stocks like Bharti Airtel, Reliance Communications, MTNL, VSNL, Tata Teleservices and Idea Cellular witnessed selling pressure.

On the other hand, pharma stocks continued the buying spree seen since last two days. The BSE Healthcare Index gained 2.52% at 4,308.27 on the back of gain in Panacea Biotech, Lupin, Wockhardt, Cadila Healthcare, Matrix Labs, GSK Pharma and Glenmark Pharma.

FMCG stocks have also been in positive momentum since December 13th. The BSE FMCG Index gained 1.44% at 2,263.93 due to surge in P&G, Marico, Hindustan Unilever, United Breweries, Godrej Consumer and ITC.

The BSE Oil & Gas Index surged 0.88% at 12,980.95 as buying was seen in Reliance Industries, ONGC and Petronet LNG.

Markets on December 14th - a snapshot...

# Indian markets witness choppy session of trade in line with global peers
# Sensex down 74 pts at 20031; Nifty down 10 pts at 6041
# CNX Midcap, BSE Smallcap, & BSE Healthcare Indices continue to hit lifetime highs
# CNX Midcap up 0.8%; BSE Smallcap Index up 1.6%
# Sugar stocks see action; Bajaj Hind up 13.2%, KCP Sugar up 19.5%, Triveni Eng up 9.7%
# BSE FMCG up 1.4%; HUL up 3.1%, ITC up 2.2%
# BSE Oil & Gas Index up 0.9%; Cairn up 3.6%, Reliance up 2%
# BSE Bank Index down 1.4%; HDFC down 3.4%, ICICI down 2.9%
# BSE Capital Goods Index down 1%; L&T down 1.5%, BHEL down 1.1%
# BSE IT Index down 0.6%; Satyam down 2.2%
# Index Gainers: ACC up 4%, Ranbaxy up 3%, Cipla up 2.7%, DRL up 2.5%
# Index Losers: Bharti Airtel down 3.4%, Tata Motors down 2.4%, Zee Ent down 2.1%
# Kaushalya Infra closes at Rs 82.45 Vs listing price at Rs 79 (Issue Price: Rs 60)
# Midcap Gainers: Thomas Cook up 20%, Fortis up 19.4%, Kolte Patil up 19%, Bajaj # Hind up 13%, Guj Sidhee Cement up 11.5%, HOEC up 11%, TVS up 10.8%
# Advance-Decline ratio was at 5:3
# Total market turnover was at Rs 90,029 cr vs Rs 1.02 lakh cr on December 13th
Total F&O turnover was at Rs 61,326 cr vs Rs 70,156 cr on December 13th

F&O snapshot

Long buildup seen in Sugar, Cement, Pharma, Auto and Airline stocks
Decent turnover despite 17 stocks in F&O curb

Star Performers

Praj Ind: Up 12.7%; adds 7.8 lakh shares; strong CoC seen
Bajaj Hind: Up 12.6%; adds 8.4 lakh shares
TVS Motors: Up 12%; adds 10.9 lakh shares; strong CoC seen
HOEC: Up 11.5%; adds 11.77 lakh shares
India Cements: Up 10%; adds 17.9 lakh shares

How BSE indices closed on December 14th...

API, Omaxe, Parsvnath valuations not expensive: I-SEC

Speaking to CNBC-TV18, Gaurav Pathak, Analyst, I-SEC, said that Lanco stock remains his top pick in realty sector and maintains buy on that. Valuations of Ansal Properties, Omaxe and Parsvnath are not expensive he feels. Sobha Developers’ fundamentals are good, he said, adding that there he sees 50% CAGR for 3-4 years.

Pathak estimates that there is likely to be significant rerating in DS Kulkarni. He also warned that there is a need to watch cash flows of large national players like DLF.

Mkts will achieve 6350-6400 levels by New Year: Rajat Bose

Rajat Bose of rajatkbose.com has said that since the Nifty crossed 6130-6150 yesterday (December 12th) this means that 6000 has now been decisively crossed on the Nifty, reports CNBC-TV18. According to him, it is now headed towards 6350-6400 levels.

He has added that this level will bring in some resistance and a bit of selling pressure could be seen. However, he has added, the markets are actually going to move up and achieve 6350-6400 by the New Year.

Sensex ends down 270pts, ITC gains over 4%, Bharti drops over 6%...

The Sensex opened with a huge positive gap of 122 points at 20,498, which turned out to be the high for the day.

A heavy bout of selling towards the close saw the index tumble to a low of 20,066 - an intra-day swing of 432 points.

The Sensex finally closed with a huge loss of 271 points (1.3%) at 20,104.

The BSE FMCG index gained nearly 2% (42 points) at 2232. The BSE Midcap and SmallCap indices also finished with gains at 9376 and 12,007, respectively.

The market breadth was positive - out of 2,928 scrips traded today, 1,843 logged gains and 1,059 declined.

INDEX LOSERS....

Bharti dropped over 6% (Rs 66) to Rs 988. ICICI Bank declined nearly 4% (Rs 48) to Rs 1,242.

Maruti slipped 3.5% (Rs 37) to Rs 1,038. Reliance was down nearly 2% (Rs 54) at Rs 2,833.

ONGC, Satyam, NTPC and BHEL also finished on a weak note today.

....AND GAINERS

ITC closed with a gain of over 4% at Rs 197. Tata Steel moved up 3% to Rs 889.

Cipla, Hindalco, Bajaj and HDFC also closed with gains today.

KOLTE PATIL ENDS DAY ONE WITH 25% GAIN

Kolte Patil was listed at a premium of 52% at Rs 220 as against the IPO price of Rs 145. The stock hit a high of 224 and low of Rs 175 before closing with a gain of 25% (Rs 36) at Rs 181.

MOST ACTIVE COUNTERS

Ispat was the most active counter with a turnover of Rs 365 crore followed by IFCI (Rs 275 crore), Mundra Port (Rs 268 crore), Lanco (Rs 199 crore) and Kolte Patil (Rs 198 crore).

December 13th: News Snapshot...

# Sensex ends down 270pts, ITC gains 4%


# Nitesh takes 9 acres in Chennai for Rs630cr


# Pandit's focus at Citi: profitability, cost


# Fed rate is not policy determinant: Reddy


# UP, WB not slowing down expansion: Rel Retail


# Precision Pipes IPO gets 4/5 Crisil rating


# Tata's investment for Rs 1 lakh car is Rs 3,700cr


# Air India gets nod to join Star Alliance


# CCEA okays Rs 316cr mktg aid for artisans


# Yatra plans euro 20mn investment in IT SEZ


# IFCI board meet advanced to Dec 17


# Daimler, Munjals to tie up for CVs


# 3 Indian cos bid for Singapore power giant


# 285 US dealers sign up to sell Scorpio

How BSE indices closed on December 13th...

Sectoral performance on December 11th...

It was a fantastic session for the markets as they closed with huge gains on a new life time high. India was among the best performing markets in Asia. Sensex added 350 points closing near 20300 levels. After a lot of attempts Nifty not only ended above 6000 but also hit 6100 mark and closed just below that mark. Asia ended in green and now all eyes are on the Fed on rate cut decision. Analysts feel that there could be a 25 bps rate cut.

Broader markets also participated in the uptrend, CNX Midcap and BSE Smallcap were up over 1% each. Breadth was extremely strong at 4:1

Sensex was up 360.21 points or 1.81% at 20290.89, and the Nifty up 136.65 points or 2.29% at 6097.25.

The BSE Midcap Index ended at 9,117.44 up 0.8%.

The BSE Smallcap Index ended at 11,530.92 up 1.2%.

The BSE Bankex was up 2.5%. IOB, HDFC Bank, Canara Bank, Union Bank, ICICI Bank, Karnataka Bank moved upwards.

The BSE Capital Goods Index was up 1% at 20,299.75. Kirloskar Bros, Astra Microwave, Greaves Cotton, Suzlon Energy, Punj Lloyd closed higher.

The BSE Auto Index closed at 5,765.34 up 1.6%. Maruti Suzuki, Bajaj Auto, Exide Industrie, Hero Honda closed higher.

The BSE Metal Index closed was up 2%. Shree Precoated, NALCO, Mah Seamless, Jindal Steel, Hindalco, Sterlite Ind closed higher.

The BSE FMCG Index closed at 2,169.62 up 0.4%. United Spirits, HUL, ITC Tata Tea closed higher.

BSE Oil and Gas Index closed up nearly 2%. HPCL, GAIL, ONGC, BPCL, IOC ended higher.

The BSE IT Index closed flat at 4,432.45. Financial Tech, Satyam, HCL, TCS, Wipro closed higher.

BSE Realty Index up over 3%. Phoenix Mills, DLF, Omaxe, Ansal Properties, Puravankara Pro closed higher.

Flows to EMs to remain strong, India to benefit: ABN AMRO

Dominique Dwor-Frecaut of ABN AMRO told CNBC-TV18 that there is still a case for the US Fed to cut rates by 25 bps. She added, however, that inflation remains a big concern in the US. She believes that flows to Emerging Markets will remain strong and India will benefit from that.

Sensex ends at record high, zooms 360pts

The Sensex opened with a positive gap of 118 points at 20,049. After slipping to a low of 20,019 in early trades, the index rallied to new highs as the day progressed.

The index zoomed to a new all-time high of 20,333, and finally settled with a smart gain of 360 points (1.8%) at a record close of 20,291.

The NSE Nifty zoomed to a record high of 6111 and ended with a gain of 136 points (2.2%) at 6097 - a new closing high.

The market breadth was positive - out of 2,914 stocks traded, 1,980 advanced, 896 declined and 38 were unchanged today.

INDEX MOVERS...

Bharti Airtel zoomed over 6% to Rs 1,031. HDFC Bank soared nearly 5% to Rs 1,775.

ONGC surged 3.7% to Rs 1,238. Hindalco and ICICI Bank rallied 3.3% each to Rs 200 and Rs 1,316, respectively.

Maruti and Bajaj Auto advanced over 3% each to Rs 1,079 and Rs 2,794, respectively. Grasim added 2.8% to Rs 3,715.

HDFC moved up 2.6% to Rs 2,947. Hindustan Unilever and Reliance gained 2% each at Rs 210 and Rs 2,879, respectively.

MOST ACTIVE COUNTERS

Lanco Infrastructure topped the value chart with a turnover of Rs 210.80 crore followed by Reliance Petroleum (Rs 209.25 crore), Tata Teleservices (Rs 192.70 crore), IFCI (Rs 186.80 crore) and Reliance Energy (Rs 128.20 crore).

Tata Teleservices led the volume chart with trades of around 3.24 crore shares followed by IKF Technologies (2.73 crore), Himachal Futuristic (2.43 crore), G V Films (1.77 crore) and IFCI (1.72 crore).

Major gainers and major losers on December 11th...

FIIs net buyers of Rs 387cr in cash market on December 11th; net buyers on December 10th also...

Foreign institutional investors (FIIs) were net buyers of Rs 387.27 crore (provisional) today, December 11th, according to data released by BSE.

While FIIs made gross purchases of Rs 4,049.74 crore, gross sales totalled Rs 3,662.47 crore.

Domestic institutional investors (DIIs) were net buyers of Rs 341.31 crore today. While DIIs made gross purchases of Rs 1,593.63 crore, gross sales totalled Rs 1,252.32 crore.

FIIs were net buyers of Rs 300.60 crore on Monday, December 10, according to data released by Sebi today. While FIIs made gross purchases of Rs 3,128.60 crore, gross sales totalled Rs 2,827.90 crore.

December 11: News Snapshots...

# Sensex ends at record high, zooms 360pts


# FIIs net buyers of Rs 387cr in cash market


# Orient-Express rebuffs Tata proposal - again!


# JB Group plans Rs2876cr spend in India, China


# Bharti spectrum offer anti-competitive: Tata


# Suzuki Motor plans Y200bn India investment


# MasterCard, SBI jointly launch MoneySend


# PM may grant more relief to exporters: Nath


# German auto parts firms eyeing India: Expert


# Jet to buy five more A330-200s


# Info Edge India invests $500,000 in US firm

# Tata, M&M may revise Jaguar, Land Rover bids

# Pfizer first MNC to get HIV drug patent in India

# Volvo, Eicher set up CV venture

Biyani's PE firm to invest Rs 250cr in Dish TV

Indivision Capital, the private equity arm of Kishore Biyani's Future Capital, will take 4.9% stake in Subhash Chandra-promoted direct-to-home Dish TV for Rs 250 crore.

Dish TV will raise Rs 125 crore in the first tranche via issue of equity shares, and the remaining Rs 125 crore on conversion of warrants.

The board of directors of Dish TV today approved a preferential allotment of equity shares and warrants to Indivision. Indivision will subscribe to 12,500,000 equity shares of Re 1 each at Rs 100 per share. In
addition, Indivision will also subscribe to 9,615,385 warrants, which are convertible to 9,615,385 equity shares, at Rs 130 per share within
18 months from the date of issue of the warrants.

The price being paid by the PE firm in the first tranche is around 6% higher to the closing stock price of Rs 94.25 today.

Subhash Chandra, Chairman, Dish TV, said: "We are happy to announce the participation of Indivision India Partners in our effort to provide consumers with unparalleled digital television services directly to their homes. We are confident that Dish TV would deliver long-term value to all its stakeholders."

Arun Kapoor, CEO, Dish TV, said: "We intend to raise over Rs1,000 crore in the next two years for our growth strategy."

Dish TV has around 2.6 million subscribers- a market share of 67% of the total 3.9 million subscribers in the country.

Kapoor said Dish TV is aiming at adding over one million subscribers each year, and hopes to have around eight million subscribers by March 2011.

The other leading player in the direct-to-home space is Tata Sky, the
joint venture between the Tata Group and the Star Group.

Competition in the DTH business is expected to become tough with the Anil Dhirubhai Ambani Group and the Bharti Group also joining the fray.

Sensex ends up 209pts, ONGC gains 4%...

The Sensex opened with a positive gap of 100 points at 19,629. Positive cues from the Asian markets helped the index remain in positive zone throughout the day.

The index rallied to a high of 19,791, and finally settled with a gain of 209 points at 19,738.

The BSE Oil & Gas index surged 2.3% to 12,940, and the Bankex rallied 2% to 11,021.

Advancing stocks beat declining shares in the ratio of 3:1 - out of 2,891 stocks traded, 2,162 advanced, 686 declined and 43 were unchanged today.

INDEX MOVERS

ONGC zoomed over 4% to Rs 1,206. Tata Motors gained 4% to Rs 772.

SBI and Hindalco surged nearly 3% each to Rs 2,384 and Rs 199, respectively.

Cipla gained 2.5% at Rs 189. NTPC, Larsen & Toubro and ICICI Bank rallied around 2% each to Rs 244, Rs 4,310 and Rs 1,162, respectively.

HDFC Bank moved up 1.6% to Rs 1,730. Reliance and Ranbaxy were up over 1% each at Rs 2,903 and Rs 393, respectively.

VALUE & VOLUME TOPPERS

Ispat Industries topped the value chart with a turnover of Rs 569 crore followed by Essar Oil (Rs 259 crore), Videocon Industries (Rs 244.50 crore), Reliance Natural Resources (Rs 214.50 crore) and Mundra Port (Rs 210.70 crore).

Ispat Industries led the volume chart with trades of around nine crore shares followed by Tata Teleservices (3.72 crore), Wire & Wireless (1.65 crore), Hindustan Motors (1.48 crore) and Reliance Natural Resources (1.21 crore).

Major gainers and major losers on December 5th...

How BSE indices closed on December 5th...

December 5th: FIIs net buyers of Rs 480cr in cash market...

Foreign institutional investors (FIIs) were net buyers of Rs 480.18 crore (provisional) today, December 5th, according to data released by BSE.

While FIIs made gross purchases of Rs 5,168.38 crore, gross sales totalled Rs 4,688.20 crore.

Domestic institutional investors (DIIs) were net sellers of Rs 159.71 crore today. While DIIs made gross purchases of Rs 1,454.28 crore, gross sales totalled Rs 1,613.99 crore.

FIIs were net buyers of Rs 19.50 crore on Tuesday, December 4, according to data released by Sebi today. While FIIs made gross purchases of Rs 3,974.10 crore, gross sales totalled Rs 3,954.60 crore.

Mutual funds (MFs) were net sellers of Rs 34.10 crore on Tuesday. MFs made purchases of Rs 1,028.40 crore and sales of Rs 1,062.50 crore.

Bajaj Electricals open offer @ Rs 389/share...

Bajaj brothers - Rahul, Shekhar, Madhur and Niraj - promoters of Bajaj Electricals (BEL) have made an voluntary open offer to acquire 12.10 lakh shares of BEL Rs 389 per share, a discount to today's closing price of Rs 428, to consolidate their holdings.

The offer to acquire 12.10 lakh shares (7.7% of voting rights) is in compliance with the Securities and Exchange Board of India’s takeover regulations, Yes Bank, manager to the offer, said in a release issued to the BSE today.The promoters will ensure that the public shareholding in target company does not fall below the minimum level permitted by the listing agreement (25%).

This offer is voluntary and has not been triggered by any agreement of the acquirers with any person for the purpose of the acquisition of shares in target company, they said.

The offer will open on January 24, 2004 and remain open till February 12, 2008.

The Bajaj Electricals stock today closed lower at Rs 428 against the previous close of Rs 440.

Markets on December 4th: Sensex ends down 74pts, Tata Steel gains 4%...

After opening with a positive gap of 105 points at 19,708, the Sensex pared gains in early trades, and exhibited lacklustre movement for the major part of the day today.

A fresh round of selling in late noon trades saw the index slip to a low of 19,482 - down 226 points from the day's open. The Sensex finally ended with a loss of 74 points at 19,529.

The BSE Mid-cap and Small-cap indices moved up 1.6% each to 8905 and 10,957, respectively.

The Consumer Durables index soared over 6% to 6083. The Metal index surged over 3% to 18,869, and the Auto index gained 1.7% at 5639.

The market breadth was fairly positive - out of 2,864 stocks traded, 1,931 advanced, 880 declined and 53 were unchanged today.

INDEX SHAKERS...

Reliance shed 2.3% to Rs 2,864. TCS and ICICI Bank slipped over 2% each to Rs 1,030 and Rs 1,140, respectively.

Satyam dropped 1.6% to Rs 441. ONGC and Ranbaxy were down over 1% each at Rs 1,157 and Rs 388, respectively.

...AND THE MOVERS

Tata Steel soared over 4% to Rs 873. Mahindra & Mahindra rallied 2.8% to Rs 772.

BHEL surged 2% to Rs 2,815. Ambuja Cements and Larsen & Toubro gained over 1% each at Rs 154 and Rs 4,229, respectively.

VALUE & VOLUME TOPPERS

Jindal Steel topped the value chart with a turnover of Rs 471 crore followed by Essar Oil (Rs 453.50 crore), Mundra Port (Rs 332 crore), ONGC (Rs 242.70 crore) and IFCI (Rs 200 crore).

Ispat Industries led the volume chart with trades of around 2.48 crore shares followed by Ashok Leyland (1.99 crore), IFCI (1.88 crore), Chambal Fertilisers (1.70 crore) and Tata Teleservices (1.69 crore).

Major gainers and major losers on December 4th...

How BSE indices closed on December 4th...

Reliance Energy to raise Rs 8000 cr; plans warrants, preference shares for projects...

The Reliance Energy (REL) board today approved capital infusion of up to Rs 8,000 crore in two years to part-finance its huge requirements especially for large infrastructure projects.

The promoters, the Anil Dhirubhai Ambani Group (ADAG), will pump in nearly Rs 6,500 crore by subscribing to preferential equity shares and convertible warrants.

The insurance companies, which collectively hold 18 per cent, will be provided an opportunity to subscribe to the offer on a pro-rata basis.

If they do so, they will bring in nearly Rs 1,500 crore.

Priced at Rs 1,812 a share, the preferential offer is a 4.25 per cent premium over Friday’s stock closing at Rs 1,738 on the Bombay Stock Exchange and a 5 per cent premium over the Securities and Exchange Board of India formula on pricing such issues.

Once the issue is complete, the Anil Ambani group’s equity in REL will go up to nearly 42 per cent from 36 per cent.

The shareholding of the insurance companies—LIC, New India Assurance, Oriental Insurance, GIC, National Insurance and United India Insurance— will be unchanged at 18 per cent if they subscribe to the offer.

If not, their shareholding will be reduced since the company’s capital base will be expanded.

The company has some Rs 20,000 crore worth of projects on hand, which include the Mumbai metro, the second phase of the Delhi metro, and the Worli-to-Nariman Point sea-link.

Indian promoters have been scaling up their shareholding in the past few years. Recently, Reliance Industries chairman Mukesh Ambani announced scaling up his stake in the company by 4 per cent to 54.6 per cent through warrants.

The Tata group and the Aditya Birla Group also announced that they would raise stakes in group companies.

REL Chairman Anil Dhirubhai Ambani said: “The new equity infusion of capital of up to Rs 8,000 crore will propel Reliance Energy into a completely new orbit, facilitating our participation in a large number of forthcoming mega projects for the benefit of our over 1.5 million shareholders.”

The proposed capital infusion will enhance the company’s net worth to Rs 20,000 crore from Rs 10,052 crore.

At a 1:1 debt-equity ratio, the company’s borrowing capacity will also go up to Rs 20,000 crore, which will enable greater participation in investment-heavy infrastructure projects.

Reliance Energy stock price movement in the last six months...

Markets on December 3rd: Sensex ends up 240pts, Rel Energy zooms 9%...

The Sensex opened with a positive gap of 184 points at 19,547. After dropping to a low of 19,447, the index zoomed to a high of 19,619 on fresh buying in energy and technology stocks. The Sensex finally ended with a gain of 240 points at 19,603.

The market breadth was fairly positive - out of 2,854 stocks traded, 2,084 advanced, 712 declined and 58 were unchanged.

The BSE Oil & Gas index soared 3.5% to 12,786. The Metal and Power indices surged over 3% each to 18,281 and 4484, respectively.

INDEX MOVERS...

Reliance Energy zoomed over 9% to Rs 1,900. Wipro soared over 7% to Rs 493.

Reliance Communications surged 4.5% to Rs 712. TCS rallied nearly 4% to Rs 1,053.

Hindalco moved up over 3% to Rs 192. BHEL and Reliance advanced around 3% each to Rs 2,761 and Rs 2,932, respectively.

Mahindra & Mahindra and Bajaj Auto gained 2.5% each at Rs 751 and Rs 2,776, respectively. Maruti added 2% to Rs 1,032.

Satyam was up 1.8% at Rs 448. Tata Steel, ITC, Ambuja Cements, NTPC and Ranbaxy were the other major gainers.

...AND THE LAGGARDS

ICICI Bank and Bharti Airtel slipped 1.6% each to Rs 1,165 and Rs 924, respectively.

HDFC was down over 1% at Rs 2,746.

VALUE & VOLUME TOPPERS

IDFC topped the value chart with a turnover of Rs 1,215.70 crore followed by Essar Oil (Rs 660.50 crore), IFCI (Rs 459.30 crore), Reliance Petroleum (Rs 371.90 crore) and Reliance Energy (Rs 315.75 crore).

IDFC led the volume chart with trades of around 5.89 crore shares followed by IFCI (4.39 crore), Tata Teleservices (2.42 crore), Ispat Industries (2.42 crore) and Essar Oil (2.33 crore).

Major gainers and major losers on December 3rd...

How BSE indices closed on December 3rd...

US Markets On November 30th: Financials Carried Markets Higher, Though Tech Stocks Were Weak...

News of a looming deal to temporarily freeze interest rates on some subprime loans and possible rate cuts on the horizon lifted US financial stocks on Friday, November 30th, but technology shares lost ground on worry about uncertain business demand.

The Dow Jones Industrial Average gained 59.99 to 13371.72, and the S&P 500 added 11.42 to 1481.14. Both benchmarks outperformed the Nasdaq Composite Index, which lost 7.17 to 2660.96 on weakness in some key tech players.