India Market Report
November 19, 2008
Indices
SENSEX
NIFTY
NASDAQ
DOW
Current
Global Eventss
—
US markets Dow & Nasdaq were up by 1.83% & 0.08% respectively
US has released some important numbers yesterday
Expected
Actual
Producer Price Index MoM
-1.9%
-2.8%
PPI Ex Food & Energy
0.1%
0.4%
Net Long term TIC flows
$27.2bn
$66.2bn
NAHB Housing Market Index
14
9
ABC Consumer Confidence
-49
-52
Change
%
Prev close
Net change
8937.20
9291.01
-353.81
-3.81
2683.15
2799.55
-116.40
-4.16
1483.27
1482.05
1.22
0.08
8424.75
8273.58
151.17
1.83
Current
Prev
close
Numbers to be released today
CURRENCY
USD/INR
USD/YEN
USD/ EURO
USD/CNY
USD INDEX
ENERGY
(USD)
NYMX
CRUDE
NAT GAS
PRECIOUS
METALS
(USD)
GOLD
SILVER
BASE
METALS
ALUMINIUM
COPPER
NICKEL
ZINC
AGRI
COMODITY
WHEAT
RICE
SUGAR
Net
change
Change
%
49.65
49.66
-0.01
96.61
97.02
-0.41
-0.42
0.79
0.79
0.00
-0.10
6.83
6.82
0.00
0.07
87.17
87.37
-0.20
-0.23
Current
Prev close
Net change
-0.01
55.58
0.18
0.32
6.66
6.66
0.00
0.00
Prev close
Net change
734.90
4.70
0.64
9.58
9.58
0.00
0.01
Prev
close
Net
change
—
—
1890.00
27.00
1.43
3750.00
3660.00
90.00
2.46
10750.00
10650.00
100.00
0.94
1229.00
1170.00
59.00
5.04
Change
%
Prev close
Net change
564.50
564.00
0.50
0.09
13.82
13.89
-0.06
-0.47
12.13
12.25
-0.12
-0.98
Expected
-0.8%
0.1%
780k
774k
American Express Co., Hartford Financial Services Group Inc., Popular Inc. and
Synovus Financial Corp. are among at least 80 companies that requested about $61
billion from the U.S. Troubled Asset Relief Program.
Sumitomo Mitsui Financial Group Inc., Japan’s third-largest bank by revenue, may
raise as much as 400 billion yen ($4.1 billion) in capital by selling preferred securities.
Hedge funds had their worst two months in almost a decade in October as global
declines in stocks and commodity prices crimped returns and investors’ withdrawals
cut assets.
Asian markets have opened mixed, Nikkei, Hangseng are down by 1.78%, 1.04%
while Shanghai is up by 0.61% respectively.
Currency
— USD weakened against the, Yen & EUR by 0.42% & 0.10% while it traded flat against
CNY & INR respectively.
Commodity
— Crude is trading at USD55.76/bbl, up by 0.32%, while natural gas is trading flat at
USD6.66/mmbtu respectively.
— In precious metals Gold is trading at USD739.6/oz up by 0.64%, while silver is
trading flat at USD9.58 respectively.
— In base metals, Zn, Cu, Al & Ni were up by 5.04%, 2.46%, 1.43% & 0.94%
respectively.
— In Agri commodities, Sugar &Rice was down by 0.98% & 0.47% while Wheat traded
flat respectively.
Local Events
— The Government has imposed a 5% import duty on iron and steel products and a
20% duty on crude soyabean oil to make imports costlier and help the domestic
industry hurt by a sharp slowdown in demand.
— The Government has decided to simplify its refund based service tax exemption
scheme for exporters, with the period to file refund claims being extended to six
months from the current 60 days.
— ONGC Videsh (OVL) has received approval from National Iranian Oil Company
(NIOC) on the feasibility report of its gas discovery in the Farsi block which is likely
to contain gas reserves of 12.5 trillion cubic feet (tcf) and oil reserves of over 1 bn bbl.
(It is more than RIL's Krishna Godavari (KG) basin reserves).
— The steep slump in steel prices may cost about Rs 200-250 cr to Gail India in
procuring 100,000 tonne of pipes for its Vijaipur-Dadri-Bawana pipeline project. The
estimated cost of the project is Rs 5,492 cr which is likely to be completed by June
2009 .On completion, the capacity of Dahej-Vijaipur-Dadri pipeline would reach 78
mn standard cubic meters per day (MMSCMD).
— Times of Money has entered into an agreement with Axis Bank to provide its
remittance solution to Axis Bank which will help the bank to offer its non-resident
customers Axis Remit, the bank's own branded online remittance services which will
provide high-speed online money transfer services for NRIs belonging to major
geographies, including the US, UK, Euro Zone (Euro currency area), Canada,
Australia, Singapore, Hong Kong and the UAE.
— IT majors Infosys and Wipro are evaluating SAP service providers such as Bearing
Point and IDS Scheer for a potential acquisition as they seek to increase their
revenues from customers that run SAP software.
— Banks may soon be able to lend more to the non- banking finance companies that are
providing funds to the infrastructure sectors. Currently RBI limits banks exposure to
NBFCs at 15% of the total capital funds. It however gives additional leeway of 5%
given to NBFCs funding infrastructure projects.
— BHEL has bagged an order from Andhra Pradesh Power Generation Corporation for
setting up a 600 mw thermal power generating unit in Warangal district worth Rs
1,325 cr for supplying and installing main plant package .The unit is slated for
synchronization in a schedule for 42 months.
— Ess Dee Aluminium has taken over the Kolkata-based aluminium foils maker India
Foils from the Vedanta group. Ess Dee would pay Rs.120cr for acquiring 90% stake
in India Foils.
— DLF has deferred some projects and laid off some employees following a slump in
demand.
— Sobha Developers has pledged 43 lakh shares or 5.90% stake to Switzerland - based
Bank Sarasin & Co. The pledge comes in respect to its share purchase agreement with
Swiss Bank entered on Sep 11, 2007. The firm had last year pledged 57 lakh shares
under the agreement and with this the total pledge stands at one cr shares.
— The government is examining the possibility of notifying jet fuel as a 'declared good'.
This would ensure that jet fuel attracts uniform sales tax of 4% across the country
against the prevailing average sales tax of 21%. It may ease ATF tax load.
Change
%
1917.00
Current
—
Change
%
739.60
Current
—
Change
%
55.76
Current
Consumer Price Index MoM
CPI Ex Food & Energy MoM
Housing Starts
Building Permits
1
Market Movement
Market Outlook
Markets are expected to open down on the back of global cues; SGX Nifty is trading at 2669.50, down by
22.50 point. The total outstanding positions in F&O are seen at Rs.52, 370cr. Out of the total F&O
outstandings, Futures accounts for Rs. 21,138cr. The total outstanding positions in futures (No of shares) are
visible at 82.99cr. Index futures outstandings is seen at 35.46 mn from 35.31 mn .
In Yesterday's market, FIIs sold stocks in cash market worth Rs.441.59 cr while DIIs bought stock worth
Rs.458.60 cr. In derivatives, we saw FIIs selling worth Rs. 667.05 cr.
The immediate resistance on Nifty's is a range between 3000-3155 while support is a range
between 2250-2400
As per our global data base, we expect Pharma and FMCG sectors to remain firm while Coal and Financials
to remain under pressure.
FII / DII Activity (Rs. Cr)
(Provisional Numbers)
Buy Value
FII
DII
FII Activity in F&O
Net change
1118.71
1560.3
-441.59
947.18
488.58
458.6
BUY
No. of
contracts
INDEX FUTURES
INDEX OPTIONS
STOCK FUTURES
STOCK OPTIONS
Sell Value
68840
27569
43134
0
SELL
No. of
Amt in
contracts
Crores
Amt in
Crores
928.82
373.22
471.47
0.00
119485
25047
44909
0
1610.40
350.60
479.56
0.00
NET CONTRACTS
NET
NET Amt in
contracts
Crores
-50645
2522
-1775
-681.58
22.62
-8.09
-667.05
NET
Disclaimer: T h e i n f o r m a t i o n c o n t a i n e d i n t h i s r e p o r t i s o b t a i n e d f r o m r e l i a b l e s o u r c e s a n d i s d i r e c t e d a t m a r k e t p r o f e s s i o n a l s a n d i n s t i t u ti o n a l
i n v e s t o r s . In n o c i r c u m s t a n c e s s h o ul d i t b e c o n s i d e r e d a s a n o f f e r t o s e l l / b u y o r , a s o l i c i t a t i o n o f a n y o f f e r t o , b u y o r s e l l t h e s e c ur i t i e s ,
c o m m o d i t i e s , o r s e c ur i t i e s / c o m m o d i t i e s d e r i v a t i v e s m e n t i o n e d i n t h i s r e p o r t . T r a d i n g i n F u t u r e s & Op t i o n s , b e i n g l e v e r a g e i n s t r u m e n t s , m a y r e s ul t
i n h i gh e r p r o f i t s o r s ub s t a n t i a l l o s s e s . N e t w o r t h , a n d / o r i t s a f f i l i a t e s , m a y o r m a y n o t h a v e p o s i t i o n i n s e c u r i t i e s m e n t i o n e d i n t h i s r e p o r t . N o
r e p r e s e n t a t i o n i s m a d e t h a t t h e t r an s a c t i o n s u n d e r t a k e n b a s e d o n t h e i n f o r m a t i o n c o n t a i n e d i n t h i s r e p o r t w i l l b e p r o f i t a b l e , o r t h a t t h e y w i l l n o t
r e s ul t i n l o s s e s . N e t w o r t h S t o c k B r o k i n g L t d a n d /o r i t s r e p r e s e n t a t i v e s w i l l n o t b e l i a b l e f o r t h e r e c i p i e n t s ’ i n v e s t m e n t d e c i s i o n b a s e d o n t h i s r e p o r t .
Networth Stock Broking Ltd. 1/A/A, Ground Floor, Mittal Court, “A” Wing, 224, Nariman Point, Mumbai – 400 021.
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