About Me
- Jagruti Fadia
- Mumbai, Maharashtra, India
- Besides being a CHARTERED ACCOUNTANT from Institute of Chartered Accountants of India,SAP certified consultant(FICO) and A Director in an advertising Company,I am a BSE certified stock analyst(technical) and I trade regularly on Bombay stock exchange.Do you like to have some free reliable stock trading tips ??? Visit my blog daily and follow my research.
Monday, August 31, 2009
Good Morning
Image by mino_andrade via Flickr
Hi Friends,
A very good morning to you all.
Global markets cues are very weak. We are also trading in overbought zone and in a high risk zone. We will open gap down today. Market is trading in a range of 13200 -16000. To break this range and sustain above 16000 level convincingly is very important, i must reiterate. Though nifty achieved a new 52 week high, sensex is yet to achieve such level. One must be stock specific while trading.
More on opening bell,
Regards,
Jagruti.
Friday, August 28, 2009
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Thursday, August 27, 2009
GOOD NIGHT
Image by virre via Flickr
MY WARM WELCOME TO 'GD', OUR NEW FAN CLUB MEMBER.
YOU ALL MUST HAVE WONDERED , WHY JUST ONE OR TWO UPDATES TODAY !! NORMALLY, THE BLOG IS UPDATED 20-25 TIMES DURING MARKET HOURS. THE REASON WAS I NEVER INTENDED YOU TO ENTER IN TO ANY INTRA DAY TRADE AS THE MARKET WAS VERY VOLATILE AND CHANCES WERE THAT TRADERS WOULD BE TRAPPED.
IMMEDIATE TREND OF THE MARKET IS WEAK NOW. EXCEPT HEALTHCARE AND OIL AND GAS INDEX, OTHER INDICES HAVE SHOWN THAT THE WEAKNESS IS SETTING IN.
MARKET WILL DECLINE TOMORROW, UNLESS AND UNTILL IT BREAKS 16000 LEVEL AND STAYS OBOVE CONVINCINGLY, IT REMAINS WEAK AND RANGE BOUND AS I HAVE SAID EARLIER TOO. IN TH WEEKLY CHART OF THE SENSEX, RIGHT SHOULDER OF THE INVERTED ( BULLISH) HEAD AND SHOULDER PATTERN IS UNDER FORMATION AND IF IT IS FORMED AND WHEN MARKET GETS BREAKOUT FROM THIS , MARKET CAN GO UP TO 18000. BUT, LETS KEEP OUR FINGERS CROSSED.
HOWEVER, TRADING SHOULD BE DONE STOCK SPECIFIC. SHORT ON ABAN, HDFC, TATA STEEL,ETC AND LONG IN SOBHA, UTV, GLENMARK, ETC.
MORE ON MARKET OPENING,
HAVE A GOOD NIGHT,
JAGRUTI.
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Wednesday, August 26, 2009
GOOD NIGHT
HI FRIENDS,
THE DAY AT MARKET WAS VERY GOOD, THOUGH SENSEX DID NOT RISE MUCH.TOMORROW IS A VERY CRUCIAL DAY, F AND O EXPIRY OF AUGUST SERIES. MARKET LOOKS GOOD IN OPENING AND MAY DECLINE OR FLAT AT CLOSE AND READY FOR SHARP DECLINE DUE TO PROFIT BOOKING NEAR 16000 LEVEL TOMORROW OR A DAY AFTER.
HOWEVER, ONE NEEDS TO BE STOCK SPECIFIC WHILE TRADING AND BE CAUTIOUS AND MUST BOOK SMALL PROFITS ALSO.
FOLLOWINGS ARE STOCKS TO WATCH TOMORROW:
CORE PROJECT
DECCAN CHR
EVERONN SYS
DISH TV
SIMPLX INFRA
ELDER PHARMA
EMCO LTD.
GANESH HSG.
ALLIED DIGIT
ANSAL INFRAS
AFTEK LTD
G.T.C.IND.
GEOJIT FIN
GAMMON INDIA
FSL
WIPRO LTD.
ZEE ENTER
UTV SOFTWARE
TECH MAH
TEXMACO LTD.
UNICHEM LAB
TATA MOTORS
VAKRANGEE SO
SREIINFRA
SUJANATOWER
SHRIRAM TRAN
PRITHVI INFO
RIL NAT RES
SADBHAV ENGG
PRIME FOCUS
HIND.OIL EXP
HOUSING DEV
HCL INFOSYS
MARG LTD
MOTHERSON SS
MARKSANS
LOK.HOUS&CON
GREAVES COTT
IOL NET CO_T
INFOSYS TECH
INFOTECH EN.
KALPA.POWER
GSS AMERICA
I-FLEX SOLUTION
IRB INFRA
BHUSH STEEL
ASSAM CO.LTD
BIOCON LTD.
3I INFOTECH
ABAN OFFSHO
ARVIND MILLS
BHARAT BIJLE
KEI INDUST.
LIC HOUS.FIN
MASCON GLOB.
KARUTURI GLO
KPIT INFOSYS
LAKSHMI OVER
KLG SYSTEL
PRAJAY ENGS.
PHOENIX MILL
PENINSULA LAND LTD
ORCHID CHEM
LONG LIST RIGHT ? FIND OUT WHICH SUITES YOU THE BEST,
SEE YOU IN THE MORNING AT THE OPENING BELL,
GOOD NIGHT,
JAGRUTI.
THE DAY AT MARKET WAS VERY GOOD, THOUGH SENSEX DID NOT RISE MUCH.TOMORROW IS A VERY CRUCIAL DAY, F AND O EXPIRY OF AUGUST SERIES. MARKET LOOKS GOOD IN OPENING AND MAY DECLINE OR FLAT AT CLOSE AND READY FOR SHARP DECLINE DUE TO PROFIT BOOKING NEAR 16000 LEVEL TOMORROW OR A DAY AFTER.
HOWEVER, ONE NEEDS TO BE STOCK SPECIFIC WHILE TRADING AND BE CAUTIOUS AND MUST BOOK SMALL PROFITS ALSO.
FOLLOWINGS ARE STOCKS TO WATCH TOMORROW:
CORE PROJECT
DECCAN CHR
EVERONN SYS
DISH TV
SIMPLX INFRA
ELDER PHARMA
EMCO LTD.
GANESH HSG.
ALLIED DIGIT
ANSAL INFRAS
AFTEK LTD
G.T.C.IND.
GEOJIT FIN
GAMMON INDIA
FSL
WIPRO LTD.
ZEE ENTER
UTV SOFTWARE
TECH MAH
TEXMACO LTD.
UNICHEM LAB
TATA MOTORS
VAKRANGEE SO
SREIINFRA
SUJANATOWER
SHRIRAM TRAN
PRITHVI INFO
RIL NAT RES
SADBHAV ENGG
PRIME FOCUS
HIND.OIL EXP
HOUSING DEV
HCL INFOSYS
MARG LTD
MOTHERSON SS
MARKSANS
LOK.HOUS&CON
GREAVES COTT
IOL NET CO_T
INFOSYS TECH
INFOTECH EN.
KALPA.POWER
GSS AMERICA
I-FLEX SOLUTION
IRB INFRA
BHUSH STEEL
ASSAM CO.LTD
BIOCON LTD.
3I INFOTECH
ABAN OFFSHO
ARVIND MILLS
BHARAT BIJLE
KEI INDUST.
LIC HOUS.FIN
MASCON GLOB.
KARUTURI GLO
KPIT INFOSYS
LAKSHMI OVER
KLG SYSTEL
PRAJAY ENGS.
PHOENIX MILL
PENINSULA LAND LTD
ORCHID CHEM
LONG LIST RIGHT ? FIND OUT WHICH SUITES YOU THE BEST,
SEE YOU IN THE MORNING AT THE OPENING BELL,
GOOD NIGHT,
JAGRUTI.
Tuesday, August 25, 2009
Monday, August 24, 2009
Good night
Image by Kassel via Flickr
Hi Friends,
Regrets for being unable to write the blog for two days.
After watching the action replay of today's market action, it looks that market has broken out from 21days moving average and will rise till 16000 on sensex as it is the big supply zone. One must watch after 16000 whether market comes back or rises further.
Stock to trade tomorrow are:
CESC LTD.
MAHINDRA HOLIDAYS
TULIP TELE
WALCHANDNAGAR
WHIRLPOOL
TATA MOTORS
BGR ENERGY
MARUTI SIEMENS
JINDAL DRILLING
SIEMENS
EVERONN
NAVBHARAT VENTURES
Best medium term investments:
ATLANTA
BHUSHAN STEEL
More on the opening bell tomorrow,
good night,
Jagruti.
Sunday, August 23, 2009
Happy Ganesh chaturthi
Hi friends,
Happy Ganesh chaturthi to you all. I have Ganesha at home and can not
update the blog tomorrow. Please excuse me.
Jagruti.
Friday, August 21, 2009
Global markets
21/08/09:Glbl Mkt @9AM
Dow(C):9350(+0.7%)
Nasdaq(C):1989(+1%)
Nikkei:10250(-1.2%)
HangSang: 20180(-0.7%)
SGXNifty:4438(-0.2%)
Dow(C):9350(+0.7%)
Nasdaq(C):1989(+1%)
Nikkei:10250(-1.2%)
HangSang: 20180(-0.7%)
SGXNifty:4438(-0.2%)
GOOD MORNING
Image by Stuck in Customs via Flickr
Let me first give a warm welcome to our new fan club member , R Bahuja.
Yesterday , market was very volatile and today also will remain volatile. it may open higher and remain in green but will end flat or in red. Intra day traders need to be very cautious. F and O expiry next thursday and thenafter market will get some direction.
Market is as such due for bounce back but may take a day's time , if not bounced today.
More on opening bell,
Regards,
Jagruti.
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Thursday, August 20, 2009
Global markets
20/08/09:Glbl Mkt @9AM
Dow(C):9279(+0.6%)
Nasdaq(C):1969(+0.6%)
Nikkei:10254(+0.4%)
HangSang: 20349(+1.9%)
SGXNifty:4445(+0.9%)
Dow(C):9279(+0.6%)
Nasdaq(C):1969(+0.6%)
Nikkei:10254(+0.4%)
HangSang: 20349(+1.9%)
SGXNifty:4445(+0.9%)
GOOD MORNING
Image by zedzap via Flickr
A very good morning,
Market today may trade flat or show little more downward before bouncing back.
Followings look good. Buy on dips.
KPIT INFOSYS
MEGASOFT LTD
I-FLEX SOLUTION
TULIP TELE
BHAR SHIP
BHUSHAN STEEL
SHREE ASHTA
PRITHVI INFO
BRIGADE
HIND.OIL EXP
MONNET ISPAT
SASKEN COMM
More on the opening bell,
Have a great trading day,
Jagruti.
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Global markets
19/08/09:Glbl Mkt @9AM
Dow(C):9217(+0.9%)
Nasdaq(C):1955(+1.2%)
Nikkei:10270(-0.1%)
HangSang: 20184(-0.5%)
SGXNifty:4440(-0.3%)
Dow(C):9217(+0.9%)
Nasdaq(C):1955(+1.2%)
Nikkei:10270(-0.1%)
HangSang: 20184(-0.5%)
SGXNifty:4440(-0.3%)
Wednesday, August 19, 2009
Good night
Hi frends,
Market is slowly losing ground. Today it lost a few more points and
was extremly volatile. Market is looking rangebound, upside capped at
sensex 16000 n downside bottom at 14700. If downside is broken it can
go up to 13500.
Tomorrow also market looks weak. However, many stocks are worth buying
for trading.
Like,
IVRCL
Tulip tele
Sasken comm
Uflex
Opportunity for med to long term investment is yet to come.
More on the opening bell tomorrow,
Good night,
Jagruti.
GOOD MORNING
HI FRIENDS,
MARKET LOOKS WEAK. DO NOT INVEST FOR LONG TERM NOW. BE STOCK SPECIFIC.
BOOK SMALL SMALL PROFITS AND SWICH TRADES QUICKLY.
REGARDS,
JAGRUTI
MARKET LOOKS WEAK. DO NOT INVEST FOR LONG TERM NOW. BE STOCK SPECIFIC.
BOOK SMALL SMALL PROFITS AND SWICH TRADES QUICKLY.
REGARDS,
JAGRUTI
Tuesday, August 18, 2009
Global markets
18/08/09:Glbl Mkt @9AM
Dow(C):9135(-1.9%)
Nasdaq(C):1930(-2.7%)
Nikkei:10208(-0.5%)
HangSang: 20247(+0.5%)
SGXNifty:4330(-1%)
EMTRADE:1800-270-999918/08/09:Glbl Mkt @9AM
Dow(C):9135(-1.9%)
Nasdaq(C):1930(-2.7%)
Nikkei:10208(-0.5%)
HangSang: 20247(+0.5%)
SGXNifty:4330(-1%)
Dow(C):9135(-1.9%)
Nasdaq(C):1930(-2.7%)
Nikkei:10208(-0.5%)
HangSang: 20247(+0.5%)
SGXNifty:4330(-1%)
EMTRADE:1800-270-999918/08/09:Glbl Mkt @9AM
Dow(C):9135(-1.9%)
Nasdaq(C):1930(-2.7%)
Nikkei:10208(-0.5%)
HangSang: 20247(+0.5%)
SGXNifty:4330(-1%)
GOOD MORNING
Image by Thai Jasmine (Busy...Catching up ;-)! via Flickr
YESTERDAY WAS VERY BAD ON SENSEX, GLOBAL CUES TODAY ARE BAD TOO.
TECHNICALLY, WE DO NOT SEE VERY GOOD TREND IN SHORT OR MEDIUM TERM HOWEVER, MAY BE DUE TO SHORT COVERING , MARKET MAY MOVE UP FOR SOME TIME DURING THE DAY. SGX NIFTY TURNED FROM POSITIVE TO NEGATIVE NOW, WHICH SUGGEST THAT WE MAY OPEN GAP DOWN AND SHORT COVERING MAY LEAD MARKET UP LATER.
HEALTHCARE, IT, REALTY, METAL INDEX LOOK WORSE. NASDAQ, NIKKIE, SANGHAI LOOKS VERY WEAK.
GOOD BUYS:
NIIT TECH
DABUR PHARMA
ALLIED DIGITAL
LET US MEET ON OPENING BELL AND WATCH THE MARKET,
REGARDS,
JAGRUTI.
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Monday, August 17, 2009
Indian Stocks Fall
Indian Stocks Fall Most in Six Weeks; Sterlite Leads Declines
Aug. 17 (Bloomberg) -- India's benchmark Sensex stock index fell the most in six weeks, led by Sterlite Industries (India) Ltd., after metal prices dropped on concerns a recent rally in commodities isn't justified by economic prospects.
Sterlite, the nation's biggest copper producer, retreated 7.1 percent as the metal declined for a second day in London, extending its slide from a 10-month high. Tata Steel Ltd., the largest maker of the alloy, lost 6.8 percent. Hindalco Industries Ltd., the No. 1 aluminum producer, retreated 7.5 percent. The Sensex tracked falls across Asian markets.
"Today the Indian stock market imitated the global markets," said Manish Sonthalia, a fund manager who helps oversee $100 million of equities at Motilal Oswal Securities Ltd. in Mumbai. "China's economy is primarily commodity based. So, a decline in the Chinese market led to a decline in commodities prices."
The Bombay Stock Exchange's Sensitive Index, or Sensex, fell 626.71, or 4.1 percent, to 14,784.92, the steepest decline since July 6. The gauge has dropped 5.7 percent so far this month on concerns the poorest monsoon rains in seven years will cut farm output and dent economic growth.
The S&P CNX Nifty Index on the National Stock Exchange lost 4.2 percent to 4,387.90. The BSE 200 Index decreased 4.1 percent to 1,812.57.
Sterlite fell 7.1 percent to 617.9 rupees. Tata Steel declined 6.8 percent to 437.95 rupees. Hindalco slid 7.5 percent to 100.25 rupees.
Copper Falls
Copper for three-month delivery fell $212, or 3.4 percent, to $6,033 a metric ton on the London Metals Exchange, leading declines in industrial metals, as stockpiles expanded and on concern that the doubling in prices since January no longer reflected the outlook for demand. Copper prices reached $6,480 on Aug. 14, the highest since Oct. 1.
July imports of copper into China, the world's biggest consumer, shrank 15 percent from a month earlier, according to the Beijing-based customs office, and foreign direct investment into Asia's second-largest economy fell for a 10th month.
"Metal prices have run ahead of fundamentals," said Niraj Shah, a Mumbai-based analyst at Centrum Broking Pvt. "The demand for metals is not as great as anticipated. Even in India, demand is likely to come down due to the weak monsoon rains."
Among other LME metals for three-month delivery, nickel fell 5.4 percent to $18,510 a ton, aluminum slid 2.5 percent to $1,940 a ton, and tin dropped 2.4 percent to $14,150 a ton. Lead fell 3.1 percent to $1,795 a ton and zinc declined 2.5 percent to $1,779 a ton.
Asia Declines
Asian stocks fell, dragging the MSCI Asia Pacific Index to its biggest drop in almost five months, on speculation economic growth in Japan and China will fail to meet investors' expectations.
Hero Honda Motors Ltd., the nation's biggest motorcycle maker, lost 6 percent to 1,389.75 rupees on concerns the weak monsoon will slash spending in the nation's agricultural regions. Forty percent of Hero Honda's sales come from rural demand. Mahindra & Mahindra Ltd., the largest maker of tractors, lost 5.4 percent to 747.45 rupees. Jaiprakash Associates Ltd., the biggest maker of dams, declined 6.4 percent to 202.7 rupees.
Overseas funds bought a net 9.37 billion rupees ($194.7 million) of Indian stocks on Aug. 13, the Securities & Exchange Board of India said on its Web site. The funds have bought 365.7 billion rupees of Indian stocks this year to date, compared with record net sales of 530 billion rupees for the whole of 2008.
The following stocks were among the most active on the exchange:
Bharti Airtel Ltd. (BHARTI IN) fell 2.5 percent to 398.75 rupees. MTN Group Ltd. is pushing India's largest mobile-phone operator to raise its offer for the South African company by more than $1 billion, the Wall Street Journal reported on Aug. 14, citing people familiar with the situation.
Indian Oil Corp. (IOCL IN) climbed 0.3 percent to 569.45 rupees. The nation's largest refiner increased jet fuel prices by 4.55 percent from Aug. 16, a company official said. The price in Mumbai, home to the country's busiest airport, was raised to 39,830 rupees a kiloliter from 38,097.77 rupees, the official said.
To contact the reporter on this story: Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net .
Aug. 17 (Bloomberg) -- India's benchmark Sensex stock index fell the most in six weeks, led by Sterlite Industries (India) Ltd., after metal prices dropped on concerns a recent rally in commodities isn't justified by economic prospects.
Sterlite, the nation's biggest copper producer, retreated 7.1 percent as the metal declined for a second day in London, extending its slide from a 10-month high. Tata Steel Ltd., the largest maker of the alloy, lost 6.8 percent. Hindalco Industries Ltd., the No. 1 aluminum producer, retreated 7.5 percent. The Sensex tracked falls across Asian markets.
"Today the Indian stock market imitated the global markets," said Manish Sonthalia, a fund manager who helps oversee $100 million of equities at Motilal Oswal Securities Ltd. in Mumbai. "China's economy is primarily commodity based. So, a decline in the Chinese market led to a decline in commodities prices."
The Bombay Stock Exchange's Sensitive Index, or Sensex, fell 626.71, or 4.1 percent, to 14,784.92, the steepest decline since July 6. The gauge has dropped 5.7 percent so far this month on concerns the poorest monsoon rains in seven years will cut farm output and dent economic growth.
The S&P CNX Nifty Index on the National Stock Exchange lost 4.2 percent to 4,387.90. The BSE 200 Index decreased 4.1 percent to 1,812.57.
Sterlite fell 7.1 percent to 617.9 rupees. Tata Steel declined 6.8 percent to 437.95 rupees. Hindalco slid 7.5 percent to 100.25 rupees.
Copper Falls
Copper for three-month delivery fell $212, or 3.4 percent, to $6,033 a metric ton on the London Metals Exchange, leading declines in industrial metals, as stockpiles expanded and on concern that the doubling in prices since January no longer reflected the outlook for demand. Copper prices reached $6,480 on Aug. 14, the highest since Oct. 1.
July imports of copper into China, the world's biggest consumer, shrank 15 percent from a month earlier, according to the Beijing-based customs office, and foreign direct investment into Asia's second-largest economy fell for a 10th month.
"Metal prices have run ahead of fundamentals," said Niraj Shah, a Mumbai-based analyst at Centrum Broking Pvt. "The demand for metals is not as great as anticipated. Even in India, demand is likely to come down due to the weak monsoon rains."
Among other LME metals for three-month delivery, nickel fell 5.4 percent to $18,510 a ton, aluminum slid 2.5 percent to $1,940 a ton, and tin dropped 2.4 percent to $14,150 a ton. Lead fell 3.1 percent to $1,795 a ton and zinc declined 2.5 percent to $1,779 a ton.
Asia Declines
Asian stocks fell, dragging the MSCI Asia Pacific Index to its biggest drop in almost five months, on speculation economic growth in Japan and China will fail to meet investors' expectations.
Hero Honda Motors Ltd., the nation's biggest motorcycle maker, lost 6 percent to 1,389.75 rupees on concerns the weak monsoon will slash spending in the nation's agricultural regions. Forty percent of Hero Honda's sales come from rural demand. Mahindra & Mahindra Ltd., the largest maker of tractors, lost 5.4 percent to 747.45 rupees. Jaiprakash Associates Ltd., the biggest maker of dams, declined 6.4 percent to 202.7 rupees.
Overseas funds bought a net 9.37 billion rupees ($194.7 million) of Indian stocks on Aug. 13, the Securities & Exchange Board of India said on its Web site. The funds have bought 365.7 billion rupees of Indian stocks this year to date, compared with record net sales of 530 billion rupees for the whole of 2008.
The following stocks were among the most active on the exchange:
Bharti Airtel Ltd. (BHARTI IN) fell 2.5 percent to 398.75 rupees. MTN Group Ltd. is pushing India's largest mobile-phone operator to raise its offer for the South African company by more than $1 billion, the Wall Street Journal reported on Aug. 14, citing people familiar with the situation.
Indian Oil Corp. (IOCL IN) climbed 0.3 percent to 569.45 rupees. The nation's largest refiner increased jet fuel prices by 4.55 percent from Aug. 16, a company official said. The price in Mumbai, home to the country's busiest airport, was raised to 39,830 rupees a kiloliter from 38,097.77 rupees, the official said.
To contact the reporter on this story: Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net .
Global markets
17/08/09:Glbl Mkt @9AM
Dow(C):9321(-0.8%)
Nasdaq(C):1985(-1.1%)
Nikkei:10521(-0.7%)
HangSang: 20471(-2%)
SGXNifty:4490(-1.5%)
Dow(C):9321(-0.8%)
Nasdaq(C):1985(-1.1%)
Nikkei:10521(-0.7%)
HangSang: 20471(-2%)
SGXNifty:4490(-1.5%)
Saturday, August 15, 2009
Image by Cajie via Flickr
Happy independance day to you all. Though market shows weakness in long run , following can be used as trading picks on Monday.Sensex at 16000 level is strong resistance, watch out !!
Best Buys for short term trade:
ABBOTT (I)
PROVOGUE IND
SASKEN COMM
DABUR PHARMA
KALYANI STEL
PSL LTD
ONGC CORPN
NOCIL LTD
NIITTECH
ALLIED DIGIT
TATA TEA
PRAKASH IND.
KLG SYSTEL
BF UTILI
MPHASIS LTD
BERGER PAINT
MIC ELECTRON
MASTEK LTD
BHUSH STEEL
HEXAWARE TEC
GUJ PETRONET
JINDAL SOUTH
MONNET ISPAT
CORPN.BANK
INDRA GAS
See you on market opening after the week end,
regards,
Jagruti.
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Friday, August 14, 2009
market down , trading strategy today
book profits on longs for intra day buy same stock again at the day end when market will be lower and stock available at lower prices.
aban
hoec
hdil
aban
hoec
hdil
Global markets
14/08/09:Glbl Mkt @9AM
Dow(C):9398(+0.3%)
Nasdaq(C):2009(+0.5%)
Nikkei:10551(+0.3%)
HangSang: 21003(+0.6%)
SGXNifty:4602(-0.4%)
Dow(C):9398(+0.3%)
Nasdaq(C):2009(+0.5%)
Nikkei:10551(+0.3%)
HangSang: 21003(+0.6%)
SGXNifty:4602(-0.4%)
Thursday, August 13, 2009
CLOSING BELL
Image by StarrGazr via Flickr
MARKET SURGED IN AN AMAZING WAY !! IT WILL TEST 16000 ON SENSEX AGAIN AND THEN THE FURTHER TREND WILL BE DECIDED. IT IS A STRONG RESISTANCE POINT. HOWEVER, LONG TERM TECHNICALS ARE STILL WEAK.
TRADERS PICK FOR TOMORROW:
SBI
TATA MOTORS
TATA CHEMICALS
LT
EVERONN
REL INFRA
REL CAP
ITC
JINDAL STEEL N POWER
LIC HSNG FIN
ROLTA
ICICI BANK
GUJ ALKALIES
HDIL
DLF
PARSVANATH
GOOD NIGHT,
SEE YOU AGAIN ON OPENING BELL,
JAGRUTI.
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Global markets
13/08/09:Glbl Mkt @9AM
Dow(C):9361(+1.3%)
Nasdaq(C):1998(+1.4%)
Nikkei:10508(+0.7%)
HangSang: 20779(+1.6%)
SGXNifty:4549(+1.7%)
Dow(C):9361(+1.3%)
Nasdaq(C):1998(+1.4%)
Nikkei:10508(+0.7%)
HangSang: 20779(+1.6%)
SGXNifty:4549(+1.7%)
We are sure to open gap up today. Let us see how long we can go
upward, strong resistance at sensex 15600-15800-16000.
Traders can trade long for at least 3-4 days.
Wednesday, August 12, 2009
GOOD NIGHT
Image by stage88 via Flickr
Hi Friends,
The market was very volatile today, as expected opened gap down , went down for more points leading to minus 350 points approx and by getting positive IIP data , it surged and finally closed flat, just 50 points minus. Many traders would have been trapped by unexpected intra day trend and volatility. Market is not expected to decline for a few days but weekly and long term studies still show weakness in the market. Trade with caution. However, followings are good buys:
APTECH
ORBIT
HOEC
MCLEOD RUSSEL
Worth watching:
EDUCOMP
SUZLON
More on market opening,
Good night,
Jagruti.
Good Morning
Image by tipiro via Flickr
Global cues today morning are very bad. We are sure to open gap down. Traders need to be very cautious. However, market after losing a few points and reaching near 14200 level, has a support zone and is right now trading in oversold zone so a small good trigger will also give a bounce back.
Let us wait for market opening for the trade picks today,
Jagruti.
Tuesday, August 11, 2009
Good Morning
Hi friends,
How are you doing? Global cues are not very positive today, our market
will remain weak too. Trade stock specific.
I will not be updating blog for the personal reasons today, please
bear with me.
Have a great trading day,
Jagruti.
Monday, August 10, 2009
Sensitive Index Falls
Indian Stocks Fall on Monsoon Concerns; Mahindra Leads Declines
Aug. 10 (Bloomberg) -- Indian stocks fell, led by Mahindra & Mahindra Ltd., on concern shortfalls in agricultural production caused by this year's poor monsoon may slow the country's economic growth.
Mahindra & Mahindra, the largest maker of sport-utility vehicles and tractors, sank 9 percent after an adviser to Prime Minister Manmohan Singh said a below-average monsoon may shave as much as one percentage point off India's economic growth this year. Maruti Suzuki India Ltd., the maker of half the cars sold in India, lost 3.5 percent. ACC Ltd., India's biggest cement maker, plunged 6.9 percent.
"Investors are shifting from sectors dependent on rural income, like auto and fast-moving consumer goods, to sectors like exports as the global economy is on a recovery path," said Vaibhav Sanghavi, a director at Ambit Capital Ltd. in Mumbai, who manages funds for wealthy individuals.
The Bombay Stock Exchange's Sensitive Index, or Sensex, fell 150.47, or 1 percent, to 15,009.77. The gauge swung between gains and losses at least 12 times. The S&P CNX Nifty Index on the National Stock Exchange lost 1 percent to 4,437.65. The BSE 200 Index decreased 1.2 percent to 1,826.58.
India's monsoon rains, the main source of irrigation for the nation's 235 million farmers, may be the weakest in five years, threatening harvests of crops such as sugar cane and rice. A normal monsoon is key to Prime Minister Singh's efforts to push economic expansion back to a 9 percent pace and cool prices of essential commodities such as sugar and lentils.
Agriculture makes up about 20 percent of the Indian economy, according to IIFL Ltd. in Mumbai.
'Not Devastating'
Mahindra slid 9 percent to 760.1 rupees. Maruti declined 3.5 percent to 1,248.55 rupees. ACC retreated 6.9 percent to 809.9 rupees.
Hero Honda Motors Ltd., the biggest motorcycle maker, lost 3.6 percent to 1,425.4 rupees. Hindustan Unilever Ltd., the largest household products maker, declined 3.3 percent to 260.65 rupees.
South Asia's largest economy may now grow about 6 percent this fiscal year, said Raghuram Rajan, an adviser to the premier who is also a professor of finance at the University of Chicago and a former chief economist at the International Monetary Fund.
"The monsoon will have an effect, but not as devastating as it would have been in the past," Rajan said. "Now hopefully, it takes a fraction of a percentage point or a percentage point off growth, which still looks reasonably healthy."
India now aims to increase production of winter-sown crops to compensate for a possible shortfall in summer-sown rice, Singh said last week. The area under rice cultivation, the worst hit by delayed rains, has declined by 15 million acres, he said.
'Lower Demand'
"Among auto companies, Mahindra & Mahindra could see the biggest impact from lower demand for tractors," analysts Jairam Nathan and Amit Agarwal of Kotak Securities Ltd. said in a research note today. "Reduced rural income could also lead to demand declining for the company's utility vehicles. Close to 50 percent of utility-vehicle sales come from rural areas."
Tata Consultancy Services Ltd., the biggest software services exporter, rose 5.9 percent to 539.05 rupees after an unexpected decline in the U.S. jobless rate signaled the global recession may be easing. Wipro Ltd., the third-biggest software services provider, gained 2.7 percent to 513.25 rupees. Infosys Technologies Ltd., the second-largest software services provider, gained 2.4 percent to 2,087.7 rupees.
Nobel Prize-winning economist Paul Krugman said the deepest slump since the Great Depression may be ending. Indian software exporters earn more than half their revenue from the U.S.
To contact the reporter on this story: Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net
Find out more about Bloomberg for iPhone: http://bbiphone.bloomberg.com/iphone
Aug. 10 (Bloomberg) -- Indian stocks fell, led by Mahindra & Mahindra Ltd., on concern shortfalls in agricultural production caused by this year's poor monsoon may slow the country's economic growth.
Mahindra & Mahindra, the largest maker of sport-utility vehicles and tractors, sank 9 percent after an adviser to Prime Minister Manmohan Singh said a below-average monsoon may shave as much as one percentage point off India's economic growth this year. Maruti Suzuki India Ltd., the maker of half the cars sold in India, lost 3.5 percent. ACC Ltd., India's biggest cement maker, plunged 6.9 percent.
"Investors are shifting from sectors dependent on rural income, like auto and fast-moving consumer goods, to sectors like exports as the global economy is on a recovery path," said Vaibhav Sanghavi, a director at Ambit Capital Ltd. in Mumbai, who manages funds for wealthy individuals.
The Bombay Stock Exchange's Sensitive Index, or Sensex, fell 150.47, or 1 percent, to 15,009.77. The gauge swung between gains and losses at least 12 times. The S&P CNX Nifty Index on the National Stock Exchange lost 1 percent to 4,437.65. The BSE 200 Index decreased 1.2 percent to 1,826.58.
India's monsoon rains, the main source of irrigation for the nation's 235 million farmers, may be the weakest in five years, threatening harvests of crops such as sugar cane and rice. A normal monsoon is key to Prime Minister Singh's efforts to push economic expansion back to a 9 percent pace and cool prices of essential commodities such as sugar and lentils.
Agriculture makes up about 20 percent of the Indian economy, according to IIFL Ltd. in Mumbai.
'Not Devastating'
Mahindra slid 9 percent to 760.1 rupees. Maruti declined 3.5 percent to 1,248.55 rupees. ACC retreated 6.9 percent to 809.9 rupees.
Hero Honda Motors Ltd., the biggest motorcycle maker, lost 3.6 percent to 1,425.4 rupees. Hindustan Unilever Ltd., the largest household products maker, declined 3.3 percent to 260.65 rupees.
South Asia's largest economy may now grow about 6 percent this fiscal year, said Raghuram Rajan, an adviser to the premier who is also a professor of finance at the University of Chicago and a former chief economist at the International Monetary Fund.
"The monsoon will have an effect, but not as devastating as it would have been in the past," Rajan said. "Now hopefully, it takes a fraction of a percentage point or a percentage point off growth, which still looks reasonably healthy."
India now aims to increase production of winter-sown crops to compensate for a possible shortfall in summer-sown rice, Singh said last week. The area under rice cultivation, the worst hit by delayed rains, has declined by 15 million acres, he said.
'Lower Demand'
"Among auto companies, Mahindra & Mahindra could see the biggest impact from lower demand for tractors," analysts Jairam Nathan and Amit Agarwal of Kotak Securities Ltd. said in a research note today. "Reduced rural income could also lead to demand declining for the company's utility vehicles. Close to 50 percent of utility-vehicle sales come from rural areas."
Tata Consultancy Services Ltd., the biggest software services exporter, rose 5.9 percent to 539.05 rupees after an unexpected decline in the U.S. jobless rate signaled the global recession may be easing. Wipro Ltd., the third-biggest software services provider, gained 2.7 percent to 513.25 rupees. Infosys Technologies Ltd., the second-largest software services provider, gained 2.4 percent to 2,087.7 rupees.
Nobel Prize-winning economist Paul Krugman said the deepest slump since the Great Depression may be ending. Indian software exporters earn more than half their revenue from the U.S.
To contact the reporter on this story: Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net
Find out more about Bloomberg for iPhone: http://bbiphone.bloomberg.com/iphone
Bloomberg News, sent from my iPhone.
Indian Stocks Fall on Monsoon Concerns; Mahindra Leads Declines
Aug. 10 (Bloomberg) -- Indian stocks fell, led by Mahindra & Mahindra Ltd., on concern shortfalls in agricultural production caused by this year's poor monsoon may slow the country's economic growth.
Mahindra & Mahindra, the largest maker of sport-utility vehicles and tractors, sank 9 percent after an adviser to Prime Minister Manmohan Singh said a below-average monsoon may shave as much as one percentage point off India's economic growth this year. Maruti Suzuki India Ltd., the maker of half the cars sold in India, lost 3.5 percent. ACC Ltd., India's biggest cement maker, plunged 6.9 percent.
"Investors are shifting from sectors dependent on rural income, like auto and fast-moving consumer goods, to sectors like exports as the global economy is on a recovery path," said Vaibhav Sanghavi, a director at Ambit Capital Ltd. in Mumbai, who manages funds for wealthy individuals.
The Bombay Stock Exchange's Sensitive Index, or Sensex, fell 150.47, or 1 percent, to 15,009.77. The gauge swung between gains and losses at least 12 times. The S&P CNX Nifty Index on the National Stock Exchange lost 1 percent to 4,437.65. The BSE 200 Index decreased 1.2 percent to 1,826.58.
India's monsoon rains, the main source of irrigation for the nation's 235 million farmers, may be the weakest in five years, threatening harvests of crops such as sugar cane and rice. A normal monsoon is key to Prime Minister Singh's efforts to push economic expansion back to a 9 percent pace and cool prices of essential commodities such as sugar and lentils.
Agriculture makes up about 20 percent of the Indian economy, according to IIFL Ltd. in Mumbai.
'Not Devastating'
Mahindra slid 9 percent to 760.1 rupees. Maruti declined 3.5 percent to 1,248.55 rupees. ACC retreated 6.9 percent to 809.9 rupees.
Hero Honda Motors Ltd., the biggest motorcycle maker, lost 3.6 percent to 1,425.4 rupees. Hindustan Unilever Ltd., the largest household products maker, declined 3.3 percent to 260.65 rupees.
South Asia's largest economy may now grow about 6 percent this fiscal year, said Raghuram Rajan, an adviser to the premier who is also a professor of finance at the University of Chicago and a former chief economist at the International Monetary Fund.
"The monsoon will have an effect, but not as devastating as it would have been in the past," Rajan said. "Now hopefully, it takes a fraction of a percentage point or a percentage point off growth, which still looks reasonably healthy."
India now aims to increase production of winter-sown crops to compensate for a possible shortfall in summer-sown rice, Singh said last week. The area under rice cultivation, the worst hit by delayed rains, has declined by 15 million acres, he said.
'Lower Demand'
"Among auto companies, Mahindra & Mahindra could see the biggest impact from lower demand for tractors," analysts Jairam Nathan and Amit Agarwal of Kotak Securities Ltd. said in a research note today. "Reduced rural income could also lead to demand declining for the company's utility vehicles. Close to 50 percent of utility-vehicle sales come from rural areas."
Tata Consultancy Services Ltd., the biggest software services exporter, rose 5.9 percent to 539.05 rupees after an unexpected decline in the U.S. jobless rate signaled the global recession may be easing. Wipro Ltd., the third-biggest software services provider, gained 2.7 percent to 513.25 rupees. Infosys Technologies Ltd., the second-largest software services provider, gained 2.4 percent to 2,087.7 rupees.
Nobel Prize-winning economist Paul Krugman said the deepest slump since the Great Depression may be ending. Indian software exporters earn more than half their revenue from the U.S.
To contact the reporter on this story: Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net
Indian Stocks Fall on Monsoon Concerns; Mahindra Leads Declines
Aug. 10 (Bloomberg) -- Indian stocks fell, led by Mahindra & Mahindra Ltd., on concern shortfalls in agricultural production caused by this year's poor monsoon may slow the country's economic growth.
Mahindra & Mahindra, the largest maker of sport-utility vehicles and tractors, sank 9 percent after an adviser to Prime Minister Manmohan Singh said a below-average monsoon may shave as much as one percentage point off India's economic growth this year. Maruti Suzuki India Ltd., the maker of half the cars sold in India, lost 3.5 percent. ACC Ltd., India's biggest cement maker, plunged 6.9 percent.
"Investors are shifting from sectors dependent on rural income, like auto and fast-moving consumer goods, to sectors like exports as the global economy is on a recovery path," said Vaibhav Sanghavi, a director at Ambit Capital Ltd. in Mumbai, who manages funds for wealthy individuals.
The Bombay Stock Exchange's Sensitive Index, or Sensex, fell 150.47, or 1 percent, to 15,009.77. The gauge swung between gains and losses at least 12 times. The S&P CNX Nifty Index on the National Stock Exchange lost 1 percent to 4,437.65. The BSE 200 Index decreased 1.2 percent to 1,826.58.
India's monsoon rains, the main source of irrigation for the nation's 235 million farmers, may be the weakest in five years, threatening harvests of crops such as sugar cane and rice. A normal monsoon is key to Prime Minister Singh's efforts to push economic expansion back to a 9 percent pace and cool prices of essential commodities such as sugar and lentils.
Agriculture makes up about 20 percent of the Indian economy, according to IIFL Ltd. in Mumbai.
'Not Devastating'
Mahindra slid 9 percent to 760.1 rupees. Maruti declined 3.5 percent to 1,248.55 rupees. ACC retreated 6.9 percent to 809.9 rupees.
Hero Honda Motors Ltd., the biggest motorcycle maker, lost 3.6 percent to 1,425.4 rupees. Hindustan Unilever Ltd., the largest household products maker, declined 3.3 percent to 260.65 rupees.
South Asia's largest economy may now grow about 6 percent this fiscal year, said Raghuram Rajan, an adviser to the premier who is also a professor of finance at the University of Chicago and a former chief economist at the International Monetary Fund.
"The monsoon will have an effect, but not as devastating as it would have been in the past," Rajan said. "Now hopefully, it takes a fraction of a percentage point or a percentage point off growth, which still looks reasonably healthy."
India now aims to increase production of winter-sown crops to compensate for a possible shortfall in summer-sown rice, Singh said last week. The area under rice cultivation, the worst hit by delayed rains, has declined by 15 million acres, he said.
'Lower Demand'
"Among auto companies, Mahindra & Mahindra could see the biggest impact from lower demand for tractors," analysts Jairam Nathan and Amit Agarwal of Kotak Securities Ltd. said in a research note today. "Reduced rural income could also lead to demand declining for the company's utility vehicles. Close to 50 percent of utility-vehicle sales come from rural areas."
Tata Consultancy Services Ltd., the biggest software services exporter, rose 5.9 percent to 539.05 rupees after an unexpected decline in the U.S. jobless rate signaled the global recession may be easing. Wipro Ltd., the third-biggest software services provider, gained 2.7 percent to 513.25 rupees. Infosys Technologies Ltd., the second-largest software services provider, gained 2.4 percent to 2,087.7 rupees.
Nobel Prize-winning economist Paul Krugman said the deepest slump since the Great Depression may be ending. Indian software exporters earn more than half their revenue from the U.S.
To contact the reporter on this story: Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net
Good Night
Image via Wikipedia
Market today was volatile and bad as expected. Still more downside of 500 to 800 points remaining on sensex. Even in bad market some scrips are real good ones and can be bought on decline for short , medium or long term like,
Ganesh housing
Wipro
Market will not improve for a day or two. Lets wait for tomorrow and see,
Good night,
Jagruti.
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GOOD MORNING
Image by kevindooley via Flickr
Good morning,
Hearty welcome, Mr. Akshay, hope you enjoy reading and using the material published on my blog.
Though global cues are positive but our country specific cues are still weak. We may trade little up for the day but still some downside is left before market surges again. traders need to be stock specific and investors need to wait before they start investing.
More on market opening,
Jagruti.
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Friday, August 7, 2009
Sensitive Index Falls
Indian Stocks Fall on Monsoon Concern; Jaiprakash Declines
Aug. 7 (Bloomberg) -- Indian stocks fell, with the benchmark index slumping to its first weekly decline in a month, after brokerages raised concern on GDP growth over poor monsoon rainfall and the farm minister said food prices may climb.
Jaiprakash Associates Ltd., India's biggest maker of dams, lost 5.5 percent, while Mahindra & Mahindra Ltd., the largest maker of tractors, fell 5.1 percent. Kotak Securities Ltd. cut the GDP forecast for the year to March to 4.8 percent from 6.5 percent, while Goldman Sachs Group Inc. said "lower rainfall projections will likely lead to negative agricultural growth."
The Bombay Stock Exchange's Sensitive Index, or Sensex, fell 353.79, or 2.3 percent, to 15,160.24. The gauge fell 3.3 percent this week, its first five-day drop since the period ending July 12. The S&P CNX Nifty Index on the National Stock Exchange lost 2.3 percent to 4,481.40. The BSE 200 Index decreased 2.3 percent to 1,849.33.
"India's economic growth in the current financial year may slow by up to 50 basis points due to weak monsoon rainfall," said Jyotivardhan Jaipuria, head of research at DSP Merrill Lynch and Co. in Mumbai. Inflation may also rise if the rains fail, he said. Agriculture makes up about 20 percent of the Indian economy, according to IIFL Ltd. in Mumbai.
DSP Merrill Lynch had earlier forecast the economy to expand at 6.3 percent, Jaipuria said.
Jaiprakash sank 5.5 percent to 218.3 rupees, its lowest since July 17. Mahindra slid 5.1 percent to 835.45 rupees, its steepest drop since Feb. 5.
Monsoon Rainfall
Bharti Airtel Ltd., India's biggest mobile-phone service provider, lost 3.9 percent to 383.9 rupees. The company, which is betting on rural subscribers for growth, fell as much as 8 percent during trading. Maruti Suzuki India Ltd., the maker of half the cars sold in India, plunged 5.2 percent to 1,293.4 rupees.
India's economic growth may slow to 4.8 percent in the current financial year, which began April 1, due to "acute rainfall deficiency," Kotak's economist Mridul Saggar said in a report. Kotak expected the economy to expand 6.5 percent with normal monsoon rainfall, the report said.
"We now think that the worse-than-expected monsoon takes away the recent upside to activity due to the continued easing of financial conditions and improving external conditions," said Goldman economist Tushar Poddar.
India's monsoon, the main source of irrigation for the nation's 235 million farmers, was less than average for a second week, threatening harvests of crops such as sugar cane and rice.
Expansion Plans
The country received 23.5 millimeters of rain, 64 percent below the average 65.9 millimeters in the week ended Aug. 5, the India Meteorological Department said on its Web site. Falls were deficient in 27 of 36 weather divisions. The deficit in the June 1 to Aug. 5 period widened to 25 percent from 19 percent a week earlier, the office said.
A normal monsoon is key to Prime Minister Manmohan Singh's efforts to push economic expansion back to a 9 percent pace and cool prices of essential commodities such as sugar and lentils. Dry weather in July last year hurt sugar cane output this year, turning India into a net importer for the first time since 2006.
"Insufficient rain has hurt the cane crop in Uttar Pradesh," Farm Minister Sharad Pawar told parliament today. "We need to keep a close eye on the monsoon situation."
Bajaj Hindusthan Ltd., India's biggest producer of sugar cane by sales, fell 2.3 percent to 180.05 rupees. Shree Renuka Sugars Ltd., the largest sugar refiner, slid 2.2 percent to 174.2 rupees.
The following were among the most active on the exchange:
Bajaj Auto Ltd. (BJAUT IN) sank 6.8 percent to 1,175.8 rupees. India's No. 2 motorcycle maker was cut to "neutral" from "overweight" at JPMorgan Chase & Co., which said the company will need to recoup market share to sustain growth in the medium term.
Bharat Heavy Electricals Ltd. (BHEL IN) fell 4 percent to 2,183.2 rupees. India's biggest power-equipment maker was cut to "neutral" from "outperform" at Macquarie Group Ltd., which cited the stock's valuations.
To contact the reporter on this story: Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net
Aug. 7 (Bloomberg) -- Indian stocks fell, with the benchmark index slumping to its first weekly decline in a month, after brokerages raised concern on GDP growth over poor monsoon rainfall and the farm minister said food prices may climb.
Jaiprakash Associates Ltd., India's biggest maker of dams, lost 5.5 percent, while Mahindra & Mahindra Ltd., the largest maker of tractors, fell 5.1 percent. Kotak Securities Ltd. cut the GDP forecast for the year to March to 4.8 percent from 6.5 percent, while Goldman Sachs Group Inc. said "lower rainfall projections will likely lead to negative agricultural growth."
The Bombay Stock Exchange's Sensitive Index, or Sensex, fell 353.79, or 2.3 percent, to 15,160.24. The gauge fell 3.3 percent this week, its first five-day drop since the period ending July 12. The S&P CNX Nifty Index on the National Stock Exchange lost 2.3 percent to 4,481.40. The BSE 200 Index decreased 2.3 percent to 1,849.33.
"India's economic growth in the current financial year may slow by up to 50 basis points due to weak monsoon rainfall," said Jyotivardhan Jaipuria, head of research at DSP Merrill Lynch and Co. in Mumbai. Inflation may also rise if the rains fail, he said. Agriculture makes up about 20 percent of the Indian economy, according to IIFL Ltd. in Mumbai.
DSP Merrill Lynch had earlier forecast the economy to expand at 6.3 percent, Jaipuria said.
Jaiprakash sank 5.5 percent to 218.3 rupees, its lowest since July 17. Mahindra slid 5.1 percent to 835.45 rupees, its steepest drop since Feb. 5.
Monsoon Rainfall
Bharti Airtel Ltd., India's biggest mobile-phone service provider, lost 3.9 percent to 383.9 rupees. The company, which is betting on rural subscribers for growth, fell as much as 8 percent during trading. Maruti Suzuki India Ltd., the maker of half the cars sold in India, plunged 5.2 percent to 1,293.4 rupees.
India's economic growth may slow to 4.8 percent in the current financial year, which began April 1, due to "acute rainfall deficiency," Kotak's economist Mridul Saggar said in a report. Kotak expected the economy to expand 6.5 percent with normal monsoon rainfall, the report said.
"We now think that the worse-than-expected monsoon takes away the recent upside to activity due to the continued easing of financial conditions and improving external conditions," said Goldman economist Tushar Poddar.
India's monsoon, the main source of irrigation for the nation's 235 million farmers, was less than average for a second week, threatening harvests of crops such as sugar cane and rice.
Expansion Plans
The country received 23.5 millimeters of rain, 64 percent below the average 65.9 millimeters in the week ended Aug. 5, the India Meteorological Department said on its Web site. Falls were deficient in 27 of 36 weather divisions. The deficit in the June 1 to Aug. 5 period widened to 25 percent from 19 percent a week earlier, the office said.
A normal monsoon is key to Prime Minister Manmohan Singh's efforts to push economic expansion back to a 9 percent pace and cool prices of essential commodities such as sugar and lentils. Dry weather in July last year hurt sugar cane output this year, turning India into a net importer for the first time since 2006.
"Insufficient rain has hurt the cane crop in Uttar Pradesh," Farm Minister Sharad Pawar told parliament today. "We need to keep a close eye on the monsoon situation."
Bajaj Hindusthan Ltd., India's biggest producer of sugar cane by sales, fell 2.3 percent to 180.05 rupees. Shree Renuka Sugars Ltd., the largest sugar refiner, slid 2.2 percent to 174.2 rupees.
The following were among the most active on the exchange:
Bajaj Auto Ltd. (BJAUT IN) sank 6.8 percent to 1,175.8 rupees. India's No. 2 motorcycle maker was cut to "neutral" from "overweight" at JPMorgan Chase & Co., which said the company will need to recoup market share to sustain growth in the medium term.
Bharat Heavy Electricals Ltd. (BHEL IN) fell 4 percent to 2,183.2 rupees. India's biggest power-equipment maker was cut to "neutral" from "outperform" at Macquarie Group Ltd., which cited the stock's valuations.
To contact the reporter on this story: Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net
GOOD MORNING
FRIENDS,
MARKET NOT LOOKING GOOD. DO NOT ENTER ANY LONG POSITION AT THIS POINT. CONTINUE SHORT POSITION FOR THE DAY AT LEAST. MARKET WILL SLIP MORE AT THE LAST HOUR , IT SEEMS AS IT IS THE LAST DAY OF THE WEEK AND COUNTRY SPECIFIC CUES ARE NEGATIVE AND WILL DRAG THE MARKET DOWN. THE MARKET WILL RISE NOW JUST FOR THE SHORT COVERING.
BUY :
EDUCOMP
MARKET NOT LOOKING GOOD. DO NOT ENTER ANY LONG POSITION AT THIS POINT. CONTINUE SHORT POSITION FOR THE DAY AT LEAST. MARKET WILL SLIP MORE AT THE LAST HOUR , IT SEEMS AS IT IS THE LAST DAY OF THE WEEK AND COUNTRY SPECIFIC CUES ARE NEGATIVE AND WILL DRAG THE MARKET DOWN. THE MARKET WILL RISE NOW JUST FOR THE SHORT COVERING.
BUY :
EDUCOMP
Thursday, August 6, 2009
GOOD EVENING
HI FRIENDS,
LET ME FIRST WELCOME OUR NEW FAN CLUB MEMBER MR. DILIP. HOPE MY BLOG SERVES HIS PURPOSE.
MARKET SLIPPED SUDDENLY IN THE LAST HOURS OF TRADE THOUGH EUROPE OPENED STRONG FOR SO MANY COUNTRY SPECIFIC REASONS LIKE RAINS, COMMODITIES PRICES, ETC. AS SUCH CORRECTION WAS DUE AS MARKET WAS TRADING IN OVERBOUGHT ZONE. DOWNSIDE WILL CONTINUE TOMORROW, IT SHOULD BE TREATED AS OPPORTUNITY TO BUY RECOMMENDED STOCKS CHEAPER !!
BUY:
GLENMARK
ICICI BANK
MORE ON MARKET OPENING TOMORROW,
GOOD NIGHT,
JAGRUTI.
India's Economic Growth
India's Growth May Suffer From Weak Monsoon, UBS Says
Aug. 6 (Bloomberg) -- India's economic growth may slow by as much as 2 percentage points in the year to March 2010 if monsoon rains remain deficient and hurt farm production, according to UBS AG.
"If rainfall fails to improve more significantly we fear a supply shock and a drop in agricultural output," Philip Wyatt, a senior economist at UBS in Hong Kong, said in a report today. "This would mean real gross domestic product growth could be 1 to 2 percent lower than our current expectation of 7 percent."
India relies on monsoon rains to produce food for its 1.2 billion people, as more than half of the nation's arable land isn't irrigated. Lower farm output may cut incomes among the 742 million people who live in the countryside and erode their purchasing power, weakening an economy already forecast by the central bank to expand at the slowest pace in seven years.
Rainfall of 5 percent below average would see farm output "stay static" and may knock less than 0.5 percentage points off India's growth rate, Wyatt wrote. A rain deficiency of closer to 10 percent would reduce gross domestic product growth by 1 percentage point and a 20 percent shortfall may chop off 2 percentage points, according to the UBS report.
India's monsoon, the main source of irrigation for the nation's 235 million farmers, is 25 percent below average so far this season, NDTV Profit reported today, citing A.B. Mazumdar, the deputy director general of the weather bureau.
'Don't Look Good'
Insufficient rain has caused acreage of all major crops to lag behind year-ago levels, denting prospects for bigger harvests of rice, oilseeds and sugar cane. India, the world's second-biggest rice producer, planted monsoon paddy crops in 28 percent less area this year because of scant rain in the main growing regions, according to Farm Minister Sharad Pawar.
"The omens don't look good," Wyatt said. The bank will review the possibility of any downgrade in its 7 percent growth projection for India after viewing rainfall data for mid-August, he said.
The $1.2 trillion economy grew 6.7 percent in the year to March 31, 2010. That compares with an average growth rate of about 8.8 percent in the previous five years.
To contact the reporter on this story: Kartik Goyal in New Delhi at kgoyal@bloomberg.net
Aug. 6 (Bloomberg) -- India's economic growth may slow by as much as 2 percentage points in the year to March 2010 if monsoon rains remain deficient and hurt farm production, according to UBS AG.
"If rainfall fails to improve more significantly we fear a supply shock and a drop in agricultural output," Philip Wyatt, a senior economist at UBS in Hong Kong, said in a report today. "This would mean real gross domestic product growth could be 1 to 2 percent lower than our current expectation of 7 percent."
India relies on monsoon rains to produce food for its 1.2 billion people, as more than half of the nation's arable land isn't irrigated. Lower farm output may cut incomes among the 742 million people who live in the countryside and erode their purchasing power, weakening an economy already forecast by the central bank to expand at the slowest pace in seven years.
Rainfall of 5 percent below average would see farm output "stay static" and may knock less than 0.5 percentage points off India's growth rate, Wyatt wrote. A rain deficiency of closer to 10 percent would reduce gross domestic product growth by 1 percentage point and a 20 percent shortfall may chop off 2 percentage points, according to the UBS report.
India's monsoon, the main source of irrigation for the nation's 235 million farmers, is 25 percent below average so far this season, NDTV Profit reported today, citing A.B. Mazumdar, the deputy director general of the weather bureau.
'Don't Look Good'
Insufficient rain has caused acreage of all major crops to lag behind year-ago levels, denting prospects for bigger harvests of rice, oilseeds and sugar cane. India, the world's second-biggest rice producer, planted monsoon paddy crops in 28 percent less area this year because of scant rain in the main growing regions, according to Farm Minister Sharad Pawar.
"The omens don't look good," Wyatt said. The bank will review the possibility of any downgrade in its 7 percent growth projection for India after viewing rainfall data for mid-August, he said.
The $1.2 trillion economy grew 6.7 percent in the year to March 31, 2010. That compares with an average growth rate of about 8.8 percent in the previous five years.
To contact the reporter on this story: Kartik Goyal in New Delhi at kgoyal@bloomberg.net
Stocks in India Fall
India Stocks Fall Most in One Month as Commodities Prices Drop
Aug. 6 (Bloomberg) -- India's benchmark stock index fell the most in a month after commodities prices declined in Asia and on concern that a share sale will draw liquidity away from existing equities.
Sterlite Industries (India) Ltd., the nation's biggest copper producer, lost the most in more than a week as the metal's prices dropped in Asia, snapping a five-day rally. Hindalco Industries Ltd., the country's biggest aluminum producer, posted its biggest decline in a month.
The Bombay Stock Exchange's Sensitive Index, or Sensex, fell 389.80, or 2.5 percent, to 15,514.03. Twenty-eight of the 30 companies in the measure sank amid concern the government's plan to sell 60 billion rupees ($1.3 billion) of shares in NHPC Ltd., India's biggest hydroelectric power generator, will draw funds from other companies' equities.
"A lot of liquidity is getting out because of this major IPO," said Suraj Saraogi, managing director Keynote Capitals Ltd. in Mumbai. "We estimate close to 500 billion rupees may get blocked due to the IPO for the next 15 days."
NHPC's share offer opens tomorrow, and the money that buyers hand over when they apply for stock in an initial public offering is unavailable for trading until the share sale process is completed.
The S&P CNX Nifty Index on the National Stock Exchange lost 2.3 percent to 4,585.50. The BSE 200 Index decreased 2.3 percent to 1,893.10.
Sterlite
Sterlite lost 4.8 percent to 647.95 rupees after the metal fell amid concerns China's central bank will rein in lending. Copper for three-month delivery on the London Metal Exchange fell as much as 3.1 percent. Hindalco retreated 6.6 percent to 103.5 rupees. Tata Steel Ltd., the biggest producer of the alloy, lost 4 percent to 454.4 rupees
Maruti Suzuki India Ltd., the maker of half the cars sold in India, lost 5.3 percent to 1,364.7 rupees. Jaiprakash Associates Ltd., the biggest maker of dams, sank 5.5 percent to 230.95 rupees. Tata Motors Ltd., India's biggest truckmaker and owner of Jaguar Land Rover Ltd., slid 7 percent to 418.4 rupees.
Overseas investors bought a net 4.76 billion rupees of Indian stocks on Aug. 3, the Securities & Exchange Board of India said on its Web site. The funds have bought 366.3 billion rupees of Indian stocks this year to date, compared with record net sales of 530 billion rupees for the whole of 2008.
The following stocks were among the most active on the exchange:
DLF Ltd. (DLFU IN) fell 3 percent to 379.8 rupees. India's biggest property developer is planning to sell its stake in a local life insurance venture with Prudential Financial Inc., the Economic Times reported, citing two unidentified people familiar with the development.
DLF is looking for a buyer for its 74 percent stake in DLF Pramerica Life Insurance Co., the newspaper reported. The report was incorrect, DLF spokesman Sanjey Roy said in a telephone interview.
Hindustan Unilever Ltd. (HUVR IN) declined 4.1 percent to 278.65 rupees. India's biggest household products maker was downgraded to "neutral" from "overweight" at HSBC Plc. The price target is 320 rupees per share.
ITC Ltd. (ITC IN) slid 4 percent to 234.1 rupees. India's biggest cigarette maker was downgraded to "neutral" from "overweight" at HSBC Plc. The price target is 264.00 rupees per share.
National Aluminium Co Ltd. (NACL IN) fell 2 percent to 319.05 rupees. The nation's second-largest producer of the metal said output is likely to be affected in August after a 9 percent fall in July.
To contact the reporter on this story: Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net
Aug. 6 (Bloomberg) -- India's benchmark stock index fell the most in a month after commodities prices declined in Asia and on concern that a share sale will draw liquidity away from existing equities.
Sterlite Industries (India) Ltd., the nation's biggest copper producer, lost the most in more than a week as the metal's prices dropped in Asia, snapping a five-day rally. Hindalco Industries Ltd., the country's biggest aluminum producer, posted its biggest decline in a month.
The Bombay Stock Exchange's Sensitive Index, or Sensex, fell 389.80, or 2.5 percent, to 15,514.03. Twenty-eight of the 30 companies in the measure sank amid concern the government's plan to sell 60 billion rupees ($1.3 billion) of shares in NHPC Ltd., India's biggest hydroelectric power generator, will draw funds from other companies' equities.
"A lot of liquidity is getting out because of this major IPO," said Suraj Saraogi, managing director Keynote Capitals Ltd. in Mumbai. "We estimate close to 500 billion rupees may get blocked due to the IPO for the next 15 days."
NHPC's share offer opens tomorrow, and the money that buyers hand over when they apply for stock in an initial public offering is unavailable for trading until the share sale process is completed.
The S&P CNX Nifty Index on the National Stock Exchange lost 2.3 percent to 4,585.50. The BSE 200 Index decreased 2.3 percent to 1,893.10.
Sterlite
Sterlite lost 4.8 percent to 647.95 rupees after the metal fell amid concerns China's central bank will rein in lending. Copper for three-month delivery on the London Metal Exchange fell as much as 3.1 percent. Hindalco retreated 6.6 percent to 103.5 rupees. Tata Steel Ltd., the biggest producer of the alloy, lost 4 percent to 454.4 rupees
Maruti Suzuki India Ltd., the maker of half the cars sold in India, lost 5.3 percent to 1,364.7 rupees. Jaiprakash Associates Ltd., the biggest maker of dams, sank 5.5 percent to 230.95 rupees. Tata Motors Ltd., India's biggest truckmaker and owner of Jaguar Land Rover Ltd., slid 7 percent to 418.4 rupees.
Overseas investors bought a net 4.76 billion rupees of Indian stocks on Aug. 3, the Securities & Exchange Board of India said on its Web site. The funds have bought 366.3 billion rupees of Indian stocks this year to date, compared with record net sales of 530 billion rupees for the whole of 2008.
The following stocks were among the most active on the exchange:
DLF Ltd. (DLFU IN) fell 3 percent to 379.8 rupees. India's biggest property developer is planning to sell its stake in a local life insurance venture with Prudential Financial Inc., the Economic Times reported, citing two unidentified people familiar with the development.
DLF is looking for a buyer for its 74 percent stake in DLF Pramerica Life Insurance Co., the newspaper reported. The report was incorrect, DLF spokesman Sanjey Roy said in a telephone interview.
Hindustan Unilever Ltd. (HUVR IN) declined 4.1 percent to 278.65 rupees. India's biggest household products maker was downgraded to "neutral" from "overweight" at HSBC Plc. The price target is 320 rupees per share.
ITC Ltd. (ITC IN) slid 4 percent to 234.1 rupees. India's biggest cigarette maker was downgraded to "neutral" from "overweight" at HSBC Plc. The price target is 264.00 rupees per share.
National Aluminium Co Ltd. (NACL IN) fell 2 percent to 319.05 rupees. The nation's second-largest producer of the metal said output is likely to be affected in August after a 9 percent fall in July.
To contact the reporter on this story: Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net
Wednesday, August 5, 2009
GOOD EVENING
Image by Stuck in Customs via Flickr
THE MARKET WAS VERY VOLATILE TODAY BUT REMAINED FLAT AS EXPECTED.
HOWEVER, ONE NEEDS TO BE STOCK SPECIFIC. MARKET MAY TAKE BREATHER BEFORE RISING AGAIN OR MAY CORRECT A FEW POINTS.
TOMORROW'S PICKS :
GLENMARK PHARMA
SESA GOA
ONGC
PARSVANATH
ORCHID CHEMICAL
KOTAK MAHINDRA BANK
CORE PROJECT
STERLITE
GRASIM
RIL
TATA ELXI
ABOVE CAN BE PICKED FOR INTRA DAY /MEDIUM OR SHORT TERM
SEE YOU AGAIN ON THE MARKET OPENING TOMORROW,
GOOD NIGHT,
JAGRUTI.
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Good Morning
Image by vishy-washy via Flickr
Happy Rakshabandhan day,
Market has morning with mixed global trend. Our market may have holiday mood today and may remain flat. I feel before it rises to 18000 level, it will give a fall and opportunity for traders to buy and enter the market again.
I will not be giving regular and many quick blogupdates today, please excuse me, I am celebrating Rakhi-day.
Have a wonderful trading day,
Jagruti.
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Why Educomp fell so much?!!!
India Backs Education for All to Counter Demographic Nightmare
Aug. 5 (Bloomberg) -- India approved legislation to make education compulsory and free, providing hundreds of millions of children with schooling to avoid a "demographic nightmare" that may curtail economic growth.
Lawmakers passed a bill in New Delhi late yesterday that promises children aged six to 14 a place in a neighborhood school within three years without fees or entrance tests, delivering on a 2002 constitutional amendment declaring lessons a human right. Applying the act will be the hard part as 23 years after India's biggest push to tackle child labor official figures show 12 million youngsters are still toiling away.
Extending opportunity "will help the children of the poorest of the poor," said Renu Singh, director of Save the Children, India. "The next challenge is implementation of the legislation, that's what we are really concerned about."
India ranked 102 out of 129 countries, immediately below Kenya and Nicaragua, in UNESCO's 2009 Education for All Development Index, which scores nations on the spread, gender balance and quality of primary education and adult literacy.
State and central governments allocated 13 percent of spending for education in the year to March 31, 2007, World Bank figures show, broadly in line with the 11 percent China spent in 2008. Around 35 percent of India's 1.2 billion people are illiterate, compared with just 9 percent in its Asian neighbor, according to the Central Intelligence Agency's World Factbook.
India's schools suffer from crumbling buildings, high rates of teacher absenteeism and vacant posts. As many as 25 percent of teachers were absent from class at any time, a 2004 World Bank study showed.
Building Schools
Under the legislation, state-level officials have a responsibility to ensure admission and attendance, while funding will be shared by local and central governments. Schools will have to be built in areas where they don't exist.
With 440 million Indians under the age of 18, the Finance Ministry said in its annual survey of the economy last year, if skills were developed effectively, the country could "harness a demographic dividend." If it failed to expand its talent pool, India would face a growth-sapping "demographic nightmare," the ministry said.
"This is a historic step," Human Resources Development Minister Kapil Sibal said in Parliament yesterday. "It will serve the future cause of India."
The law "will help the country fill its shortage of skilled workers," said Shobha Mishra, joint director at the Federation of Indian Chambers of Commerce and Industry.
Out of Reach
Almost 42 percent of Indians live on less than $1.25 a day, the World Bank estimates, putting private education out of the reach of the majority even where centers exist. Save the Children and the Smile Foundation say more than 35 million of India's children don't attend school, while the government puts the figure at 7.5 million.
While poverty means that child labor is a serious issue for a minority of children, the "main use of a child's time when not enrolled in school is playing -- not working," said Jishnu Das of the Centre for Policy Research in New Delhi in e-mailed comments. "India has made huge strides in getting children into school at the primary level over the last decade."
The new legislation "has little to say about either learning or the role of secondary schools. That's a worry given that learning inequalities in India are amongst the highest in the world," said Das, citing a report he co-wrote last year.
Shining, Drowning
In "India Shining and Bharat Drowning," Das and Tristan Zajonc of Harvard University surveyed 6,000 students from schools in two states -- Orissa and Rajasthan. After nine years of education 30 percent to 40 percent of enrolled children were unable to pass an international benchmark defining basic mathematical knowledge, they found.
Either state came second only to South Africa in terms of education disparity when ranked alongside 51 nations previously assessed for a global study.
The new laws mark a "firm commitment" from the Congress Party-led government, re-elected in May, to prioritize education, Das, a member of the World Bank research group studying education policy, said.
They also reserve 25 percent of seats in private schools for poor children, extending a program of education reservations aimed at reversing centuries of social marginalization in India.
To contact the reporter on this story: Bibhudatta Pradhan in New Delhi at bpradhan@bloomberg.net .
Aug. 5 (Bloomberg) -- India approved legislation to make education compulsory and free, providing hundreds of millions of children with schooling to avoid a "demographic nightmare" that may curtail economic growth.
Lawmakers passed a bill in New Delhi late yesterday that promises children aged six to 14 a place in a neighborhood school within three years without fees or entrance tests, delivering on a 2002 constitutional amendment declaring lessons a human right. Applying the act will be the hard part as 23 years after India's biggest push to tackle child labor official figures show 12 million youngsters are still toiling away.
Extending opportunity "will help the children of the poorest of the poor," said Renu Singh, director of Save the Children, India. "The next challenge is implementation of the legislation, that's what we are really concerned about."
India ranked 102 out of 129 countries, immediately below Kenya and Nicaragua, in UNESCO's 2009 Education for All Development Index, which scores nations on the spread, gender balance and quality of primary education and adult literacy.
State and central governments allocated 13 percent of spending for education in the year to March 31, 2007, World Bank figures show, broadly in line with the 11 percent China spent in 2008. Around 35 percent of India's 1.2 billion people are illiterate, compared with just 9 percent in its Asian neighbor, according to the Central Intelligence Agency's World Factbook.
India's schools suffer from crumbling buildings, high rates of teacher absenteeism and vacant posts. As many as 25 percent of teachers were absent from class at any time, a 2004 World Bank study showed.
Building Schools
Under the legislation, state-level officials have a responsibility to ensure admission and attendance, while funding will be shared by local and central governments. Schools will have to be built in areas where they don't exist.
With 440 million Indians under the age of 18, the Finance Ministry said in its annual survey of the economy last year, if skills were developed effectively, the country could "harness a demographic dividend." If it failed to expand its talent pool, India would face a growth-sapping "demographic nightmare," the ministry said.
"This is a historic step," Human Resources Development Minister Kapil Sibal said in Parliament yesterday. "It will serve the future cause of India."
The law "will help the country fill its shortage of skilled workers," said Shobha Mishra, joint director at the Federation of Indian Chambers of Commerce and Industry.
Out of Reach
Almost 42 percent of Indians live on less than $1.25 a day, the World Bank estimates, putting private education out of the reach of the majority even where centers exist. Save the Children and the Smile Foundation say more than 35 million of India's children don't attend school, while the government puts the figure at 7.5 million.
While poverty means that child labor is a serious issue for a minority of children, the "main use of a child's time when not enrolled in school is playing -- not working," said Jishnu Das of the Centre for Policy Research in New Delhi in e-mailed comments. "India has made huge strides in getting children into school at the primary level over the last decade."
The new legislation "has little to say about either learning or the role of secondary schools. That's a worry given that learning inequalities in India are amongst the highest in the world," said Das, citing a report he co-wrote last year.
Shining, Drowning
In "India Shining and Bharat Drowning," Das and Tristan Zajonc of Harvard University surveyed 6,000 students from schools in two states -- Orissa and Rajasthan. After nine years of education 30 percent to 40 percent of enrolled children were unable to pass an international benchmark defining basic mathematical knowledge, they found.
Either state came second only to South Africa in terms of education disparity when ranked alongside 51 nations previously assessed for a global study.
The new laws mark a "firm commitment" from the Congress Party-led government, re-elected in May, to prioritize education, Das, a member of the World Bank research group studying education policy, said.
They also reserve 25 percent of seats in private schools for poor children, extending a program of education reservations aimed at reversing centuries of social marginalization in India.
To contact the reporter on this story: Bibhudatta Pradhan in New Delhi at bpradhan@bloomberg.net .
Tuesday, August 4, 2009
Stocks in India Fall
India's Stocks Fall on Monsoon Concern; Jaiprakash Declines
Aug. 4 (Bloomberg) -- India's stocks fell on concern this year's monsoon rainfall may be insufficient to sustain farm output, causing reduced spending in rural areas.
Jaiprakash Associates Ltd., the biggest maker of dams, lost 2.4 percent. ITC Ltd., a cigarette maker betting on rural consumers for growth, declined 0.7 percent. India's monsoon, the main source of irrigation for the nation's 235 million farmers, may be on the lower end of a forecast, the weather bureau said yesterday. Agriculture makes up about 20 percent of the Indian economy, according to IIFL Ltd. in Mumbai.
The Bombay Stock Exchange's Sensitive Index, or Sensex, fell 93.25, or 0.6 percent, to 15,830.98. The measure climbed 8.1 percent last month as the first-quarter results of 23 of the 30 companies on the Sensex beat analysts' estimates.
"Fears of a sub-normal monsoon persist, it may yet be premature to call it a great time in the markets from here on," said Tushar Pradhan, who manages $1.8 billion of funds for Indian customers as chief investment officer at HSBC Asset Management. "First-quarter results for most Indian companies have come as a positive surprise and it has already shown up in the market reaction."
The S&P CNX Nifty Index on the National Stock Exchange lost 0.7 percent to 4,680.50. The BSE 200 Index declined 0.5 percent at 1,931.96.
Jaiprakash retreated 2.4 percent to 244.65 rupees. ITC declined 0.7 percent to 246.5 rupees. ITC, which gets about half its sales from cigarettes, is raising sales from new businesses like shampoo, food, clothing and its agriculture business, which includes commodity trading, to fuel growth. The stock had declined as much as 3.3 percent earlier.
July Rains
Rains in July, the wettest month in the June-to-September monsoon season, were 98 percent of the long-period mean, more than forecast, Ajit Tyagi, director general at the India Meteorological Department, said in a phone interview yesterday. That wasn't enough to make up the 52 percent shortfall in June, and rice output will decline from a record last year as farmers planted fewer acres, Farm Minister Sharad Pawar said July 31.
Prime Minister Manmohan Singh is relying on an increase in farm output to push economic growth back to a 9 percent pace and to meet a campaign promise of ensuring food security for poor families.
Housing Development Finance Corp., the biggest mortgage lender, retreated 1.2 percent to 2,504.7 rupees.
Stocks also declined after Kotak Securities Ltd. analysts Sanjeev Prasad and Bhavesh Shah said an imminent retreat is likely.
"We see very little value in most large-cap stocks and do not rule out a 15 percent to 20 percent correction in case of weak monsoons and global economic weakness," Prasad, Kotak's head of research in Mumbai and the top-ranked analyst in Asia Money polls the past four years, said in a research note.
Shares in the Sensex trade at an average 18.7 times future earnings, up from their 2009 low of 8.83 times on March 11, according to data compiled by Bloomberg.
The following stocks were among the most active on the exchange:
Hindalco Industries Ltd. (HNDL IN) rose 4.3 percent to 112.9 rupees. Novelis Inc., a unit of India's biggest aluminum producer Hindalco, posted a first-quarter net income of $143 million, according to a company statement. Sales reached $1.96 billion, Novelis said in the PRN newswire release.
Steel Authority of India Ltd. (SAIL IN) declined 2.2 percent to 175.7 rupees. The country's second-largest producer of the metal cut prices for a second month, a company executive said. Prices of so-called long products were lowered by as much as 1,500 rupees a ton, said the executive, who declined to be identified before an official announcement.
Tata Motors Ltd. (TTMT IN) increased 2.8 percent to 443.1 rupees. The No. 1 truckmaker posted its first sales increase in 10 months in July. It sold 48,054 vehicles last month, 18 percent more than the 40,729 units sold a year earlier. The company started delivering the Nano last month. It sold 2,475 of the small cars.
To contact the reporter on this story: Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net .
Aug. 4 (Bloomberg) -- India's stocks fell on concern this year's monsoon rainfall may be insufficient to sustain farm output, causing reduced spending in rural areas.
Jaiprakash Associates Ltd., the biggest maker of dams, lost 2.4 percent. ITC Ltd., a cigarette maker betting on rural consumers for growth, declined 0.7 percent. India's monsoon, the main source of irrigation for the nation's 235 million farmers, may be on the lower end of a forecast, the weather bureau said yesterday. Agriculture makes up about 20 percent of the Indian economy, according to IIFL Ltd. in Mumbai.
The Bombay Stock Exchange's Sensitive Index, or Sensex, fell 93.25, or 0.6 percent, to 15,830.98. The measure climbed 8.1 percent last month as the first-quarter results of 23 of the 30 companies on the Sensex beat analysts' estimates.
"Fears of a sub-normal monsoon persist, it may yet be premature to call it a great time in the markets from here on," said Tushar Pradhan, who manages $1.8 billion of funds for Indian customers as chief investment officer at HSBC Asset Management. "First-quarter results for most Indian companies have come as a positive surprise and it has already shown up in the market reaction."
The S&P CNX Nifty Index on the National Stock Exchange lost 0.7 percent to 4,680.50. The BSE 200 Index declined 0.5 percent at 1,931.96.
Jaiprakash retreated 2.4 percent to 244.65 rupees. ITC declined 0.7 percent to 246.5 rupees. ITC, which gets about half its sales from cigarettes, is raising sales from new businesses like shampoo, food, clothing and its agriculture business, which includes commodity trading, to fuel growth. The stock had declined as much as 3.3 percent earlier.
July Rains
Rains in July, the wettest month in the June-to-September monsoon season, were 98 percent of the long-period mean, more than forecast, Ajit Tyagi, director general at the India Meteorological Department, said in a phone interview yesterday. That wasn't enough to make up the 52 percent shortfall in June, and rice output will decline from a record last year as farmers planted fewer acres, Farm Minister Sharad Pawar said July 31.
Prime Minister Manmohan Singh is relying on an increase in farm output to push economic growth back to a 9 percent pace and to meet a campaign promise of ensuring food security for poor families.
Housing Development Finance Corp., the biggest mortgage lender, retreated 1.2 percent to 2,504.7 rupees.
Stocks also declined after Kotak Securities Ltd. analysts Sanjeev Prasad and Bhavesh Shah said an imminent retreat is likely.
"We see very little value in most large-cap stocks and do not rule out a 15 percent to 20 percent correction in case of weak monsoons and global economic weakness," Prasad, Kotak's head of research in Mumbai and the top-ranked analyst in Asia Money polls the past four years, said in a research note.
Shares in the Sensex trade at an average 18.7 times future earnings, up from their 2009 low of 8.83 times on March 11, according to data compiled by Bloomberg.
The following stocks were among the most active on the exchange:
Hindalco Industries Ltd. (HNDL IN) rose 4.3 percent to 112.9 rupees. Novelis Inc., a unit of India's biggest aluminum producer Hindalco, posted a first-quarter net income of $143 million, according to a company statement. Sales reached $1.96 billion, Novelis said in the PRN newswire release.
Steel Authority of India Ltd. (SAIL IN) declined 2.2 percent to 175.7 rupees. The country's second-largest producer of the metal cut prices for a second month, a company executive said. Prices of so-called long products were lowered by as much as 1,500 rupees a ton, said the executive, who declined to be identified before an official announcement.
Tata Motors Ltd. (TTMT IN) increased 2.8 percent to 443.1 rupees. The No. 1 truckmaker posted its first sales increase in 10 months in July. It sold 48,054 vehicles last month, 18 percent more than the 40,729 units sold a year earlier. The company started delivering the Nano last month. It sold 2,475 of the small cars.
To contact the reporter on this story: Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net .
GOOD MORNING
Image by Thai Jasmine via Flickr
HI SONALI,
A WARM WELCOME TO THE BLOG.
A VERY GOOD MORNING TO YOU ALL,
GLOBAL CUES ARE POSITIVE AND THE MORNING WILL BE VERY SUNNY AND BRIGHT ON OUR MARKET TOO. HOWEVER, IT SHOULD NOT BE FORGOTTEN THAT WE ARE TRADING IN OVERBOUGHT ZONE AND ANY SMALL TRIGGER CAN SLIDE MARKET DOWNWARD SO BE CAUTIOUS WHILE TRADING INTRA DAY.
I REGRET THAT I WONT BE ABLE TO UPDATE THE BLOG TODAY IN UPPER HALF OF MARKET HOURS.
WISH YOU A HAPPY TRADING DAY,
JAGRUTI.
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Monday, August 3, 2009
GOOD MORNING
Image by almeidafe via Flickr
FRIENDS, GLOBAL CUES ARE GOOD. OUR MARKET LOOKS GOOD TOO, BUT IT IS STANDING AT VERY CRUCIAL LEVEL AND MUST REMAIN GOOD FOR A FEW DAYS TO CONTINUE GROWTH AND UPSIDE. LET US WAIT AND WATCH FOR A FEW DAYS TO JUDGE THE TREND.
LET US MEET ON MARKET OPENING,
JAGRUTI.
Stock Market: Technical Analysis
Asia Stocks Rally to Falter, Lacks Strength: Technical Analysis
Aug. 3 (Bloomberg) -- Asia's stock-market rally may falter as chart formations show the gains lack "technical strength," said Elliott Wave International Inc.
The MSCI Asia-Pacific Index has climbed in five waves from lows in March, indicating that the rebound is only the first leg of a larger "bear-market rally," Elliott Wave International said. The index's peak volume and momentum in the smaller wave that started mid-July was lower than that of an earlier advance, another indication that prices may "correct," it added.
The MSCI regional index has risen every day, except one, since July 13, advancing by 15 percent. The rally helped the measure climb 8.4 percent in July, its fifth straight month of gains, on optimism the worst of the global recession has past.
"This fifth wave has been impressive, logging a rare 11 up days in a row before stalling on July 29," Elliott Wave International said in its Asian-Pacific Financial Forecast report. "As impressive as that price performance was, it lacked underlying technical strength."
The MSCI index has been gaining in the past three weeks under the so-called trend channel that contained most of the advance since March, Elliott Wave International said. The index reached the 50 percent Fibonacci retracement of the decline between 2007 and 2009 at the 110 level, the report said. Further gains mean the index could peak near 123, the 61.8 percent Fibonacci retracement level, the research company said.
Elliott Wave Theory, created by U.S. market analyst Ralph Elliott in 1938, attempts to predict future price moves by dividing past trends into sections, or waves, and calculating changes in value.
To contact the reporter on this story: Shiyin Chen in Singapore at schen37@bloomberg.net
Aug. 3 (Bloomberg) -- Asia's stock-market rally may falter as chart formations show the gains lack "technical strength," said Elliott Wave International Inc.
The MSCI Asia-Pacific Index has climbed in five waves from lows in March, indicating that the rebound is only the first leg of a larger "bear-market rally," Elliott Wave International said. The index's peak volume and momentum in the smaller wave that started mid-July was lower than that of an earlier advance, another indication that prices may "correct," it added.
The MSCI regional index has risen every day, except one, since July 13, advancing by 15 percent. The rally helped the measure climb 8.4 percent in July, its fifth straight month of gains, on optimism the worst of the global recession has past.
"This fifth wave has been impressive, logging a rare 11 up days in a row before stalling on July 29," Elliott Wave International said in its Asian-Pacific Financial Forecast report. "As impressive as that price performance was, it lacked underlying technical strength."
The MSCI index has been gaining in the past three weeks under the so-called trend channel that contained most of the advance since March, Elliott Wave International said. The index reached the 50 percent Fibonacci retracement of the decline between 2007 and 2009 at the 110 level, the report said. Further gains mean the index could peak near 123, the 61.8 percent Fibonacci retracement level, the research company said.
Elliott Wave Theory, created by U.S. market analyst Ralph Elliott in 1938, attempts to predict future price moves by dividing past trends into sections, or waves, and calculating changes in value.
To contact the reporter on this story: Shiyin Chen in Singapore at schen37@bloomberg.net
Saturday, August 1, 2009
RBI
Indian Central Bank Aims to Unwind Expansionary Steps
July 31 (Bloomberg) -- India's central bank aims to reverse expansionary monetary measures if the government commits itself to fiscal discipline and the economy recovers, Governor Duvvuri Subbarao said in New Delhi today.
"Reversing the expansionary policies is definitely on the agenda on the way forward," he said. "For this to happen, there are two necessary conditions. The government will have to show a firm and credible commitment to fiscal responsibility. Second, there will have to be more definite signs of recovery."
Subbarao this week left the central bank's reverse repurchase rate unchanged at 3.25 percent and maintained the repurchase rate at 4.75 percent after cutting them by a quarter point each on April 21.
"The counter-cyclical spending by the government and the accommodative monetary policy were both necessary in order to cushion the economy from the onslaught of the crisis," the governor said today. "Nevertheless, the sudden and rapid expansion of the government borrowing program has impeded monetary transmission."
The central bank raised its inflation forecast for the year to March 31 to around 5 percent from an April estimate of 4 percent and said it may soon need to "reverse" the loose monetary policy of the past 10 months.
"The government borrowing resulted in firming up of yields, notwithstanding the substantial excess liquidity, militating against the low-interest-rate regime that we want," the governor said today.
Deficit, Inflation
Finance Minister Pranab Mukherjee on July 6 announced plans to borrow a record 4.51 trillion rupees ($94 billion) to fund spending on roads, power and aid for the poor.
The budget shortfall is forecast at 6.8 percent of GDP in the year to March 2010.
The government's higher deficit may lead to inflation.
"On the monetary side, the increased fiscal deficit is going to pose more than a proportionate challenge," Subbarao said today. The "creation of high-power money in the face of large fiscal deficits even if there is no direct primary financing is not cost-less; it can sow the seeds of the next inflationary cycle."
The challenge for the central bank is to maintain a comfortable liquidity situation while at the same time anchoring inflation expectations, the governor said today. Inflation targeting is not practical in India, he said.
Inflation Index
India's benchmark wholesale-price index declined 1.54 percent in the week to July 18, the seventh straight weekly drop. Prices retreated 1.61 percent in the first week of June, the biggest drop since December 1978, according to central bank data.
The central bank will maintain "an accommodative monetary stance until there are definite and robust signs of recovery," Subbarao said in this week's quarterly policy statement. India's economy may grow "6 percent with an upward bias" in the year to March 2010, according to the bank.
India's $1.2 trillion economy, the third largest in Asia, expanded 6.7 percent in the year to March 2009. That compares with average growth of 8.5 percent in the previous five years.
"The uncertain monsoon outlook could further accentuate food-price inflation," according to the central bank. Monsoon rainfall in India, the main source of irrigation for the nation's 235 million farmers, was 19 percent below average as of July 22, Farm Minister Sharad Pawar said July 28.
Insufficient rain has caused acreage of all major crops to lag behind year-ago levels, denting prospects for bigger harvests of rice, oilseeds and sugar cane. India, the world's second-biggest rice producer, planted monsoon paddy crops in 28 percent less area this year because of scant rain in the nation's main growing regions, according to Pawar.
"The challenge for the RBI is to maintain a comfortable liquidity situation while at the same time anchoring inflation expectations," Subbarao said.
To contact the reporter on this story: Kartik Goyal in New Delhi at kgoyal@bloomberg.net .
July 31 (Bloomberg) -- India's central bank aims to reverse expansionary monetary measures if the government commits itself to fiscal discipline and the economy recovers, Governor Duvvuri Subbarao said in New Delhi today.
"Reversing the expansionary policies is definitely on the agenda on the way forward," he said. "For this to happen, there are two necessary conditions. The government will have to show a firm and credible commitment to fiscal responsibility. Second, there will have to be more definite signs of recovery."
Subbarao this week left the central bank's reverse repurchase rate unchanged at 3.25 percent and maintained the repurchase rate at 4.75 percent after cutting them by a quarter point each on April 21.
"The counter-cyclical spending by the government and the accommodative monetary policy were both necessary in order to cushion the economy from the onslaught of the crisis," the governor said today. "Nevertheless, the sudden and rapid expansion of the government borrowing program has impeded monetary transmission."
The central bank raised its inflation forecast for the year to March 31 to around 5 percent from an April estimate of 4 percent and said it may soon need to "reverse" the loose monetary policy of the past 10 months.
"The government borrowing resulted in firming up of yields, notwithstanding the substantial excess liquidity, militating against the low-interest-rate regime that we want," the governor said today.
Deficit, Inflation
Finance Minister Pranab Mukherjee on July 6 announced plans to borrow a record 4.51 trillion rupees ($94 billion) to fund spending on roads, power and aid for the poor.
The budget shortfall is forecast at 6.8 percent of GDP in the year to March 2010.
The government's higher deficit may lead to inflation.
"On the monetary side, the increased fiscal deficit is going to pose more than a proportionate challenge," Subbarao said today. The "creation of high-power money in the face of large fiscal deficits even if there is no direct primary financing is not cost-less; it can sow the seeds of the next inflationary cycle."
The challenge for the central bank is to maintain a comfortable liquidity situation while at the same time anchoring inflation expectations, the governor said today. Inflation targeting is not practical in India, he said.
Inflation Index
India's benchmark wholesale-price index declined 1.54 percent in the week to July 18, the seventh straight weekly drop. Prices retreated 1.61 percent in the first week of June, the biggest drop since December 1978, according to central bank data.
The central bank will maintain "an accommodative monetary stance until there are definite and robust signs of recovery," Subbarao said in this week's quarterly policy statement. India's economy may grow "6 percent with an upward bias" in the year to March 2010, according to the bank.
India's $1.2 trillion economy, the third largest in Asia, expanded 6.7 percent in the year to March 2009. That compares with average growth of 8.5 percent in the previous five years.
"The uncertain monsoon outlook could further accentuate food-price inflation," according to the central bank. Monsoon rainfall in India, the main source of irrigation for the nation's 235 million farmers, was 19 percent below average as of July 22, Farm Minister Sharad Pawar said July 28.
Insufficient rain has caused acreage of all major crops to lag behind year-ago levels, denting prospects for bigger harvests of rice, oilseeds and sugar cane. India, the world's second-biggest rice producer, planted monsoon paddy crops in 28 percent less area this year because of scant rain in the nation's main growing regions, according to Pawar.
"The challenge for the RBI is to maintain a comfortable liquidity situation while at the same time anchoring inflation expectations," Subbarao said.
To contact the reporter on this story: Kartik Goyal in New Delhi at kgoyal@bloomberg.net .
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