MARKET NEWS
Indian stocks slump on poor factory output, Japan quake
sify
Mumbai, March 11 (IANS) A benchmark index for Indian equities markets slumped nearly one percent Friday as lower-than-expected growth in factory output and the earthquake in Japan dampened investor-sentiment. The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened deep in the red at 18,248.11 points, ended the day at 18,174.09 points, down 0.84 percent or 153.89 points from the previous close of 18,327.98 points. The benchmark Sensex touched a high of 18,368.43 points and low of 18,063.29 points in the intraday. At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty fell 0.89 percent or 48.95 points to close at 5,445.45 points. India's factory output grew slower than expected at 3.7 percent in January compared to 2.53 percent during the previous month and 16.8 percent in the like month of last fiscal. Of the broader markets, both the BSE midcap and smallcap indices slumped over a percent. The BSE midcap index closed 1.07 percent down at 6,529.28 points and the BSE smallcap index fell 1.12 percent at 7,899.81 points. Most sectoral indices also closed in the red led by nearly two percent slump in the BSE metal index. There was heavy selling pressure in metal, technology, IT, power, and consumer goods products. BHEL slumped nearly four percent to Rs.1,974.70. Other major losers on the Sensex were Reliance Comm, down 3.46 percent at Rs.96.30; Reliance Infra, down 3.19 percent at Rs.604.65; Sterlite Inds, down 3.06 percent at Rs.160.15; and Jaiprakash Associates, down 2.90 percent at Rs.81.95. Of the 30 Sensex scrips, only five closed in the positive. ONGC rose 2.14 percent at Rs.281.30. RIL, up 0.73 percent at Rs.991.60; Tata Power, up 0.55 percent at Rs.1,200; Hindustan Unilever, up 0.42 percent at Rs.277.95; and ITC, up 0.15 percent at Rs.171.25 were the Sensex gainers. Markets plunged across the globe after a massive earthquake hit Japan, further dampening investors' sentiments already shaken by high oil price and unrest in the Middle East. The Japanese Nikkei slumped 1.72 percent at 10,254.40 points. A devastating earthquake hit Japan just before the close of trading at Tokyo stock exchange. Hong Kong's Hang Seng fell 1.55 percent at 23,249.80 points and China's Shanghai Composite index closed 0.79 percent down at 2,933.80 points. European markets also opened deep in the red. Around mid-day, the French CAC 40 was trading 1.03 percent down, the German DAX was down 1.13 percent and Britain's FTSE 100 was trading 0.59 percent lower |
| Sensex slides 1.5 pc on political uncertainty |
| SME Times News Bureau | 18 Mar, 2011 |
| A benchmark index for the equities markets slumped nearly one-and-half percent Friday as political turmoil dampened investor sentiment, already shaken by interest rate hikes and the Japan crisis. The sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the positive at 18,251.18 points, slipped below psychological resistance level of 18,000 points within an hour of trading on deepening political uncertainties. The benchmark Sensex ended the day at 17,878.81 points, down 1.49 percent or 271.06 points from the previous close at 18,149.87 points. The index touched a high of 18,259.61 points and low of 17,849.53 points in the intraday. Selling pressure intensified in the afternoon session on deepening political crisis after the opposition demanded the resignation of Prime Minister Manmohan Singh following leaks of US diplomatic cables alleging that MPs were bribed to win a parliamentary trust vote in 2008. At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty fell 1.34 percent or 72.95 points to close at 5,373.70 points. There was heavy selling pressure in oil and gas stocks. Reliance Industries fell nearly four percent after the report that its output from gas field in the KG-D6 basin were projected to remain 13 percent lower. The BSE oil and gas index tumbled nearly three percent. All the broader markets as well as sectoral indices closed in the red. On the broader market, the BSE midcap fell 0.43 percent at 6,509.68 points and the BSE smallcap closed 0.78 percent down at 7,797.80 points. |
| CLOSING BELL |
| economictimes |
| 3:30 pm: Indian markets ended near support levels as investors took home some profits off the table. The market discounted positive cues from European peers and had already factored in 25 bps hike in interest rates by the Reserve Bank of India. Bombay Stock Exchange's Sensex was at 18166.14, down 192.55 points or 1.05 per cent. The 30-share index touched a low of 18104.02 and high of 18354.27 intraday. National Stock Exchange's Nifty was at 5454.15, down 57 points or 1.03 per cent. The broader index touched a low of 5435.30 and high of 5510.05 in today's trade. BSE Midcap Index was down 0.24 per cent and BSE Smallcap Index moved 0.36 per cent lower. 3:25 pm: Reliance Infrastructure has been awarded EPC contract of Rs 7,200 crore (US$ 1.6 billion) for the Samalkot power project. The stock was at Rs 651.35, up 0.94 per cent on the BSE. It touched a high of Rs 666.25 and low of Rs 636 in trade so far. 3:15 pm: Energy Development Company is in the process of acquiring 5 hydro electric projects totaling of 56 MW by way of taking over 100 per cent share-holding of the SPV companies formed for the said projects. The stock was at Rs 35.40, down 3.28 per cent on the BSE. It touched a high of Rs 36.80 and low of Rs 35.20 in trade so far. 3 pm: Clariant Chemicals is considering proposal for divestment of its holding in Chemtreat Composites, a 100% subsidiary of the company. The stock was at Rs 625.05, up 0.21 per cent on the BSE. It touched a high of Rs 631.95 and low of Rs 606.10 on volume of 3378 shares. 2:45 pm: Ramky Infrastructure has secured orders aggregating Rs 288.32 crore across water and waste water and building verticals. The stock was at Rs 253.15, down 0.08 per cent on the BSE. It touched a high of Rs 260.15 and low of Rs 245.10 in trade so far. 2:30 pm: Avance Technologies plans to raise raise funds by offering, issuing and allotting up to 30 crores convertible warrants on preferential basis. The stock was at Rs 7.50, down 1.06 per cent on the BSE. It touched a high of Rs 7.65 and low of Rs 7.28 in trade so far. 2:15 pm: Venus Remedies has got GCC approval to market its Oncology & Carbapenem range of products in Gulf. The stock was at Rs 218, down 0.39 per cent on the BSE. It touched a high of Rs 227.90 and low of Rs 217.05 in trade so far. 2 pm: Selan Exploration Technology has fixed March 25, 2011 as the record date for the purposes of second interim dividend. The stock was at Rs 327.50, down 0.05 per cent on the NSE. It touched a high of Rs 331 and low of Rs 325.10 in trade so far. 1 pm: Deccan Chronicle Holdings is launching the Kochi Edition of its English Daily from March 18, 2011. The stock was at Rs 69.10, down 0.36 per cent on the NSE. It touched a high of Rs 69.75 and low of Rs 67.70 in trade so far. 12:45 pm: Indian markets pared some of intraday losses as the Reserve Bank of India hiked repo rate and reverse repo rate by 25 bps each, in line with market expectations. The central bank has left the CRR unchanged at 6%. The food inflation has also tapered down a bit while fuel price index spiked up. India's annual food price index for the week ended March 5 was at 9.42 per cent against 9.52 per cent previous week. Fuel price index climbed to 12.79 per cent from 9.48 per cent a week ago. Bombay Stock Exchange's Sensex was at 18264.91, down 93.78 points or 0.51 per cent. The 30-share index touched a low of 18209.05 and high of 18354.27 in trade so far. National Stock Exchange's Nifty was at 5483.80, down 27.35 points or 0.50 per cent. The broader index touched a low of 5453.90 and high of 5510.05 in trade so far. 12:30 pm: Shopper's Stop's subsidiary Crossword Bookstores has opened one "Crossword' franchisee store at Junction Mall at Durgapur. With these, there are now 68 'Crossword' stores. The stock was at Rs 327.80, down 1.68 per cent on the NSE. It touched a high of Rs 338 and low of Rs 319.20 in trade so far. 12:15 pm: Sree Rayalaseema Hi-Strength Hypo has fixed March 29, 2011 as the record date for ascertaining payment of interim dividend to shareholders. The stock was at Rs 50.75, up 2.25 per cent on the NSE. It touched a high of Rs 51.05 and low of Rs 48.05 in trade so far. 12 pm: MindTree has secured SAP support deal in the UK having been selected by 2e2, Europe's fastest growing ICT Lifecycle services provider, as a long term applications outsourcing partner. The stock was at Rs 361.80, down 2.69 per cent on the NSE. It touched a high of Rs 365 and low of Rs 351.10 in trade so far. 11:45 am: Tata Communications and the Westin Tokyo are offering free use of their telepresence facilities from Japan. Consumers and businesses with a critical face-to-face communication need will have free-of-charge access to the high-definition video conferencing room in order to stay connected to friends, family or business counterparts across the globe. Shares of Tata Communications were at Rs 209.90, down 0.40 per cent on the NSE. It touched a high of Rs 212.25 and low of Rs 208.25 in trade so far. 11:30 am: ICRA has reaffirmed LAA rating assigned to the NCD programme of Tata Power Company with positive outlook and A1+ rating for Commercial Paper /short term debt programme. The stock was at Rs 1224.10, down 0.16 per cent on the BSE. It touched a high of Rs 1233.95 and low of Rs 1219 in trade so far. 11:15 am: Apar Industries' conductor division has bagged orders worth Rs 2500 millions from Power Grid Corporation of India for manufacture and supply of ACSR conductors. The company has also received orders from other customers for supply of high temperature conductors worth Rs 250 millions. The stock was at Rs 196.50, up 5.26 per cent on the BSE. It touched a high of Rs 201.60 and low of Rs 184.30 in trade so far on volume of 77950 shares. 11 am: Hindustan Composites has decided to close the buyback of equity shares from the open market through the stock exchanges with effect from March 18, 2011. The stock was at Rs 533.95, down 0.20 per cent on the BSE. 10:45 am: Elantas GmbH, a global player in specialty chemicals field, has renewed agreement with Sunshield Chemicals for a further period of 5 years. The agreement is to source a key raw material being consumed globally. Shares of Sunshield Chemicals surged 14.39 per cent higher to Rs 53.25 on the BSE. It touched a high of Rs 54.50 and low of Rs 47.55 in trade so far. 10:30 am: Hero Honda has set aside a kitty of Rs 100 crore to create a new brand identity that will lead to a new company name and corporate logo to be etched on every bike and scooter it sells in the Indian market. The company has shortlisted five agencies -JWT, Draftfcb Ulka, Mudra, Law & Kenneth and Percept H - to create the new brand identity. The stock was at Rs 1524.75, up 0.48 per cent on the BSE. It touched a high of Rs 1529.70 and low of Rs 1501.60 in trade so far. 10:15 am: Jyothy Laboratories has acquired a 14.9% stake in Henkel India from Tamil Nadu Petro Products for Rs 60.73 crore in an all-cash deal. The deal makes Jyothy the largest Indian shareholder in the struggling Indian arm of Germany's Henkel AG. With Jyothy shelling out Rs 35 a share, the deal values the target company at Rs 408 crore. Shares of Jyothy Laboratories were at Rs 220.40, down 4.22 per cent on the BSE. It touched a high of Rs 254 and low of Rs 219.05 in trade so far. Henkel India surge 4.96 per cent higher to Rs 47.60 on the BSE. It touched a high of Rs 47.60 and low of Rs 47.45 in trade so far. 10 am: Tata Steel aims to raise as much as Rs 1500 crore in the nation's first sale of rupee perpetual bonds by a non-finance company. JP Morgan Chase & Co and ICCI Bank are likely to arrange the sale. The scrip was at Rs 597.60, down 0.31 per cent on the BSE. It touched a high of Rs 599.50 and low of Rs 590 in trade so far. 9:45 am: Procter & Gamble will reduce the price of Whisper sanitary napkins and Pampers diapers starting Wednesday. This decision was made subsequent to the slash in excise duties on sanitary napkins and baby diapers from 10% to 1% in the Union Budget. The stock was at Rs 1780, up 0.78 per cent on the BSE. It touched a high of Rs 1784 and low of Rs 1765 in trade so far. 9:30 am: Indian markets were witnessing a subdued session as weakness in Asian peers dampened sentiments. Rate sensitive stocks are likely to be in action ahead of Reserve Bank of India's policy review meet. The central bank is likely to raise rates by 25 bps. National Stock Exchange's Nifty was at 5489.40, down 21.75 points or 0.40 per cent and Bombay Stock Exchange's Sensex was at 18286.48, down 72.21 points or 0.39 per cent. |
Sensex tanks 295 points this week |
| thehindubusinessline |
MUMBAI, MARCH 19:
The BSE benchmark Sensex tumbled by another 295 points below the psychological mark of 18,000 to close at a nearly three-week low of 17,878.81 on across-the-spectrum sell-off caused by political insecurity, amid rising crude oil prices and heavy capital outflows. The shadow of fresh allegations over cash-for-vote during 2008 trust vote cast over the market performance. Hike in the key policy rates by 25 basis points each and raised forecast of March-end inflation by the apex bank weighed on the market sentiment. To tackle the rising inflation, the Reserve Bank of India on Thursday, raised the short-term lending (repo) and borrowing (reverse repo) rates by 25 basis points each to 6.75 per cent and 5.75 per cent, respectively, fuelling speculation that the loans for housing, auto and corporates may get dearer thus affecting the bottom-lines of the companies in these sectors. RBI has also raised the inflation projection to 8 per cent for March-end against the earlier 7 per cent saying it would continue with its policy to contain the rate of price rise. Interest rate sensitive stocks from auto, realty and banking segment attracted profit-booking. US crude futures traded at $102.05 a barrel led by ongoing tensions in the oil-rich Gulf region and the impact from Japan’s nuclear crisis also affected the market sentiment. Asian shares tumbled as Tokyo’s stock market benchmark plunged sharply during the week to its biggest decline since 2008 on panic selling amid worries of a possible ‘nuclear catastrophe’ that would further complicate and endanger the nation’s recovery from its worst-ever crisis. Meanwhile, food inflation fell marginally to 9.42 per cent for the week ended March 5 from 9.52 per cent last week. The NSE 50-share Nifty also ended lower by 71.75 points or 1.32 per cent to 5,373.70 from its last week-end level. Among the major indices, the BSE-Auto fell by 3.22 per cent, the BSE-FMCG 2.75 per cent, the BSE-IT 2.44 per cent, the BSE-Realty 2.4 per cent, the BSE-Teck 1.86 per cent and BSE-CG by 1.49 per cent. However, the BSE-CD firmed up by 1.04 per cent. Major Sensex losers were Maruti Suzuki (7.53 per cent), HDFC (6 per cent), Hindalco (4.08 per cent), ONGC (4.07 per cent), Hero Honda (3.78 per cent), Infosys Tech (3.7 per cent), M&M (3.47 per cent), Tata Motors (3.41 per cent) and HUL (3.4 per cent). However, Reliance Communications shot up by 8.51 per cent followed by Reliance Infrastructure 3.79 per cent, Tata Steel 2.46 per cent and Tata Power 2.07 per cent. The total turnover on the BSE and NSE rose to Rs 15,911.80 crore and Rs 55,607.16 crore, respectively from the last week’s level of Rs 15,759.09 crore and Rs 51,696.04 crore. |
Indian equities slide on rate hike, political turmoil (Weekly Market Review) |
| sify |
Mumbai, March 19 (IANS) Benchmark indices of Indian equities markets closed deep in the red for the second consecutive week amid acute volatility as political uncertainty coupled with interest rates hike and the Japan crisis dampened investor sentiment. The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) ended the week at 17,878.81 points, down 1.62 percent or 295.28 points from the previous week's close of 18,174.09 points. The benchmark Sensex had lost 1.69 percent or 312.36 points during the previous week. Indian markets witnessed volatile trading this week. The markets opened the week on a bullish note despite global meltdown following the devastating earthquake and tsunami in Japan. However, Indian stocks fell the next day in line with the world markets. Hike in key policy rates by the central bank and political uncertainty following WikiLeaks' disclosures dampened sentiments at the markets during the last two sessions. The benchmark Sensex fell 271.06 points Friday, the last trading day of the week after the opposition demanded the resignation of Prime Minister Manmohan Singh following leaks of US diplomatic cables alleging that MPs were bribed to win a parliamentary trust vote in 2008. At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty also ended the week on a negative note. The Nifty fell 1.34 percent or 72.95 points to close at 5,373.70 points Friday. There was heavy selling pressure in interest rate-sensitive auto, consumer goods and banking stocks after the central bank hiked its short-term lending and borrowing rates by 25 basis points each for the eighth time in 15 months to tame inflation in a move that could make corporate, housing and auto loans dearer. In its mid-quarter review of the monetary policy, the Reserve Bank of India (RBI) Thursday also revised upward its inflation forecast sharply to 8 percent by end-March, from 7 percent forecast in January and a lower 5.5 percent in November. On the last trading day of the week, Mahindra and Mahindra slumped 3.31 percent at Rs.632.95. Reliance Infra, down 3.87 percent at Rs.627.55; HDFC, down 2.57 percent at Rs.620.95; Hero Honda, down 2.35 percent at Rs.1,474.15; and Tata Motors, down 2.17 percent at Rs.1,117.95 were among the top Sensex losers. Only two out of the 30 Sensex scrips closed in the green Friday: Tata Steel, up 0.26 percent at Rs.596.30 and Tata Power, up 0.17 percent at Rs.1,232. Other Asian markets ended the week on a positive note. The Japanese Nikkei average rebounded 2.72 percent to close at 9,206.75 points. Japanese stocks witnessed extremely volatile trading this week amid concerns of a nuclear meltdown in an atomic power plant in earthquake-hit Fukushima. China's Shanghai Composite rose 0.33 percent at 2,906.89 points and Hong Kong's Hang Seng closed 0.07 percent up at 22,300.20 points Friday. |
F&O cues: Total Futures Open Int down Rs 183 cr |
| moneycontrol |
F&O cues: Total Futures Open Int down Rs 183 cr, Total Options Open Int up Rs 659 crore Total stock futures Open Int add 75 lakh shares in Open Int Nifty futures Open Int add 2.34 lakh shares in Open Int, prem at 20 pts versus prem of 12 pts because of massive cash based selling Nifty Open Int PCR down at 1.25 versus 1.33 -Total Put shed 19.7 lakh shares, call add 26 lakh shares Highest Open Int outstanding at 5400 put, 5300 put, 5500 call Nifty 5500 call add 10.5 lakh (16%) shares in Open Int Nifty 5600 call add 7.4 lakh (12%) shares in Open Int Nifty 5400 call add 4.2 lakh (13%) shares in Open Int Nifty 5400 Put shed 14.3 lakh (13%) shares in Open Int Nifty 5500 put shed 12.5 lakh (22%) shares in Open Int Nifty 5100 Put shed 3 lakh (5%) shares in Open Int Nifty 5600 put shed 1.8 lakh (8%) shares in Open Int Nifty April 5500 Put add 1.88 lakh (21%) shares in Open Int Nifty April 5800 call add 1.27 lakh (8%) shares in Open Int India VIX up 1.5% at 25.26; Orchid and Suzlon in FNO Curb FIIs in F&O on Mar 17 FIIs net sell Rs 565 cr in Index Futures; Open Int up by 30834 contracts FIIs net buy Rs 685 cr in Index Options; Open Int up by 7111 contracts FIIs net sell Rs 176 cr in Stock Futures; Open Int down by 6053 contracts |
Nifty options' S'pore appeal may hit volumes on NSE |
| economictimes - 26 MAR, 2010, 12.47AM IST, NISHANTH VASUDEVAN,ET BUREAU |
| MUMBAI: Stocks brokers on the National Stock Exchange (NSE) are worried about losing business volumes in the most widely-traded equity derivative contracts on the exchange. With NSE planning to permit Nifty options on the Singapore Exchange (SGX) this year, brokers fear foreign institutional investors are likely to trade these contracts more in Singapore, rather than in India, because of lower costs and lesser disclosure requirements there. "It is certainty a threat to volumes here, as transaction costs are lower on the Singapore Exchange," said a senior official of an institutional brokerage, which services foreign institutional clients. NSE's Nifty futures are already traded on SGX, but volumes in this contract in Singapore have shrunk in recent years in line with the trend back home. In India, many traders, including foreign institutions which mostly traded in Nifty futures in the past, shifted to Nifty options from early '08, when global financial markets began to unravel. This is because buyers of options are liable to limited risks, compared with futures and option (F&O) contracts that can be structured to profit without necessarily betting on the market direction. The share of index options in total turnover of NSE's F&O segment has risen to 34% in '09-10, from 11% in '06-07. For index futures, the share has shrunk to 23% from 43% in the period, according to NSE data. "While the exchange (NSE) will get a licensing fee for allowing Nifty options in Singapore, we (brokers) will take a direct hit, because any shift in volumes (to Singapore) will reduce our business," a derivatives head with a domestic broking firm. Brokers said the biggest beneficiaries of the step would be those global investors, who don't want to or have not been able to register with the Securities Exchange Board of India (Sebi) to directly trade in India. Though foreign investors can trade through participatory notes - a derivative contract representing Indian shares issued by a broker to the overseas investor - the participatory note-issuing broker is expected to keep a record of its client's identity, which can be demanded by the Indian regulator. Global investors, who bet across countries, will also benefit by the presence of Nifty options in Singapore, where derivative contracts of several markets are listed. TS Harihar, head-derivatives at ICICI Securities, says that fears about the likelihood of foreign investors increasingly trading in Nifty options in Singapore are exaggerated. "There were similar concerns, when Nifty futures were about to start trading in Singapore, but time has proven that such fears are unfounded," Mr Harihar said. "Volumes on NSE's Nifty options are not just driven by foreign investors, but also retail and proprietary traders...unless Singapore manages to get such broad-based participation, volumes are unlikely to grow consistently," he said. |
Nifty to remain bearish unless crude, inflation slide down |
| moneycontrol |
Domestic market has taken a sharp downturn on spiking oil prices. The NSE Nifty closed at 5367.5 down 79.25 points or 1.46% and BSE Sensex ended at 17878.81 down 271.06 points or 1.49%. Most analysts were watching crude oil movements carefully thinking that crude will bounce back with renewed energy and hurt market sentiments. Looking at the losses marked by the indices, it seems that analysts had rightly expressed concerns over this issue. Dipan Mehta, Member, BSE and NSE, said that it is a highly uncertain period of crude oil prices and if oil rates continue to take a high jump, then the market will trade in a tight range. “If oil prices spike up to USD 120-125 per barrel, then you would have to necessarily reduce the trading range to 5100-5400-5450,” he warned. Moreover, the FII sale figure has become a matter of concern. Reacting on the Reliance stocks, which dragged the Nifty down, Mehta said, “Domestic and global uncertainties will keep hovering the stocks.” However, he was positive about the future of Reliance. He said, “BP certainly is going to play an important role in terms of providing assistance and technology to Reliance and try and increase the flow.” Talking about the RBI’s interest rate hike, he said that both domestic and international variables will continue to impact inflation and the market will have to deal with an extended period of interest rates for a while. In fact, he praised India Inc for managing their capital better despite the interest rate hike. In the view of Radhika Gupta, Director, Forefront Capital Management, the Nifty will wander in the 5300-5400 range as there are many negative events like Japan crisis, ongoing worry on crude and domestic inflation concerns that are hampering Nifty’s growth. In the view of technical analyst Mitesh Thacker, the short term trend clearly points on the downside the market will witness. “If 5340 is broken, I would probably consider a new low being tested on a closing basis. So, 5230 which was the earlier closing low on the Nifty could be tested and violated by about 50-80 points,” added Thacker |
