Keynote capitals india morning note april 27-'12
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- Indian markets fell for a second consecutive session as investors booked profits after S&P cut India's outlook and as traders rolled over positions to the May 2012 series. - Foreign investors remained net sellers for the third consecutive day and the month of April, while domestic institutional investors were net buyers. - Bank stocks declined after S&P revised the outlook of 11 Indian banks/financial institutions to negative. - Asian markets opened mixed while the Indian market is expected to have a flat to positive opening.
Keynote capitals india morning note april 27-'12
- 1. K E Y N O T E INSTITUTIONAL RESEARCH India Morning Note Friday, April 27, 2012 Domestic Markets Snapshot Views on markets today Name of Index Apr 25 Apr 26 Change (%) • Indian markets fell for a second session in a row Sensex 17,151.29 17,130.67 -0.12% yesterday as investors booked profits reflecting the deepening caution from investors after S&P cut the CNX Nifty 5,202.00 5,189.00 -0.25% country's outlook and as traders rolled over positions BSE Mid-cap 6,267.10 6,247.89 -0.31% in the derivatives segment from the near-month April BSE IT 5,479.90 5,502.26 0.41% 2012 series to May 2012 series. Indian markets have BSE Banks 11,716.12 11,666.23 -0.43% fallen since their late February peak, as the optimism FII Activity (`Cr) at the start of the year has been replaced by concerns about risks such as the widening current account Date Buy Sell Net deficit. Foreign investors are facing uncertainty about 25-Apr 2,178 2,458 -280 their taxation, further clouding the markets' outlook. 24-Apr 2,212 3,051 -839 They were net sellers during the previous three days, Total Apr 28,595 30,476 -1879 for a combined net total of around `15bn, and remain 2012 YTD 228,829 185,381 43447 net sellers for the month of April. The downward movement was mainly led by selling pressure in MF Activity (`Cr) power, real estate, auto and bank stocks while IT, Date Buy Sell Net FMCG and metal stocks witnessed some buying 25-Apr 448 558 -110 activities which gave some support to the markets. 24-Apr 638 622 16 Bank stocks were mostly lower after S&P on Total Apr 7,513 8,016 -503 Wednesday revised the rating outlook a total of 11 banks/financial institutions in India from stable to 2012 YTD 43,458 49,534 -6077 negative. Yes Bank lost 2.3% after Rabobank sold a Volume & Advances / Declines majority of its stake in the bank at a 2.5% discount to NSE BSE Wednesday’s closing price of Yes Bank. Jindal Steel Trading Volume (Cr) 72.73 18.78 and Power gained 1.87% as the recent reports said that the company will invest over `10000Cr in the year Turnover (`Cr) 12,258 2,402 ended March 2013 to part-fund its `2 lakh Cr capital Advances 555 967 expenditure plan that aims to ramp up its steel Declines 904 1,137 making capacity to 18mn tonnes in the next five Unchanged 81 745 years. Total 1,540 2,849 • Market breadth was lower at ~0.85x as investors sold Global Markets large cap stocks. On provisional basis, FIIs sold equity of `3.76bn while domestic institutions bought equity of Index Latest Values Change (%) `0.63bn in cash segment. DJIA 13,204.62 0.9% NASDAQ 3,050.61 0.7% • Asian markets are mixed, after a positive opening on the encouraging US Housing data. While the Nikkei is Nikkei * 9,551.12 -0.1% lost moderately, the Hang Seng is strong. Hang Seng * 20,866.17 0.3% • We expect a flat to positive opening for the Indian * as of 8.25AM IST markets today following the cues from the global Currencies / Commodities Snapshot markets. The markets will take a pause ahead of the Latest Previous key economic data of fiscal deficit and other national Quote Close accounts for FY12 on Monday. Indian Rupee per $ 52.40 52.55 Economic and Corporate Developments Indian Rupee per € 69.37 69.32 • The Union Cabinet decided to retain the voting rights NYMEX Crude Oil($/bbl) 104.16 104.55 in the private sector banks at 10% and felt it could be Gold ($/oz) 1,656.30 1,659.60 raised progressively to 26% as suggested by the Silver ($/oz) 31.02 31.21 Standing Committee. Keynote Capitals Institutional Research (research@keynotecapitals.net) (+9122-30266000) Keynote Capitals Institutional Research is also available on Bloomberg KNTE <GO>, Thomson One Analytics, Reuters Knowledge, Capital IQ, TheMarkets.com and securities.com Keynote Capitals Institutional Research - winner of “India’s Best IPO Analyst Award 2009” by MCX-Zee Business To unsubscribe from this mailing list, please reply to unsubscribe@keynotecapitals.net
- 2. K E Y N O T E INSTITUTIONAL RESEARCH TOP GAINERS Buzzing Stocks (BSE A-Group) • Netherlands-based Rabobank sold a large part of its Previous Current Change residual stake in private sector lender Yes Bank for Company Name Close(`) Price(`) (%) around `453Cr. Ruchi Soya 83.45 89.90 7.73 • EID Parry to demerge its units. Alstom T&D 150.50 159.75 6.15 • Sesa Goa to begin exploration in Liberia mines this United Spirits 738.55 782.40 5.94 week. Tata Comm 224.10 235.15 4.93 Idea Cellular 80.10 83.30 4.00 • JSW Steel production up 16% at 7.43 MT in FY12 • The Competition Commission of India (CCI) has (BSE Mid-Cap) levied a penalty of `252.44Cr on United Phosphorus. Previous Current Change Company Name • Mahindra South Africa (MSA), an affiliate of auto Close(`) Price(`) (%) Ruchi Soya 83.45 89.90 7.73 maker Mahindra and Mahindra, will market Alstom T&D 150.50 159.75 6.15 SsangYong products in South Africa. Essar Ports 86.25 91.00 5.51 US markets Anant Raj Inds 56.00 59.00 5.36 U.S. stocks gained, after better-than-estimated housing Rajesh Exports 133.80 140.45 4.97 data overshadowed disappointing earnings at United Parcel Service Inc. TOP LOSERS The S&P 500 increased 0.7% to 1,399.98. It has (BSE A-Group) advanced 2.4% in three days. The Dow Jones Industrial Previous Current Change Average climbed 113.90 points, or 0.9%, to 13,204.62. Company Name Close(`) Price(`) (%) GMR Infra 28.45 26.60 -6.50 United Phos 120.30 113.30 -5.82 Allahabad Bank 173.70 164.90 -5.07 Canara Bank 461.00 438.50 -4.88 Lanco Infra 14.50 13.80 -4.83 (BSE Mid-Cap) Previous Current Change Company Name Close(`) Price(`) (%) United Bank 67.85 63.00 -7.15 United Phos 120.30 113.30 -5.82 BASF India 614.70 582.00 -5.32 India Infoline 56.95 54.00 -5.18 Lanco Infra 14.50 13.80 -4.83 Keynote Capitals Institutional Research (research@keynotecapitals.net) (+9122-30266000)
- 3. K E Y N O T E INSTIT UT IONAL R ES EAR C H India and Global Economic Calendar Countries / Friday Monday Tuesday Wednesday Regions 27/Apr 30/Apr 1/May 2/May India Forex Reserves Data Indian Economic data Weekly Supplement of RBI US GDP Anualized & Data of Personal Construction Factory order data Gross Domestic Income and Outlays Spending (MoM) Purchases Price Index (Q1) Real Personal Consumption Expenditures (QoQ) (Q1) Reuters/ Michigan Consumer Sentiment Index (Apr) Global Japan BoJ Interest Germany retail Sales UK's Purchasing Germany PMI Rate Decision Manager Index manufacturing & Manufacturing Service index and unemployment rate data Japan Annualized UK consumer credit Housing Starts & & money supply and Construction Orders construction PMI (YoY) UK Nationwide Housing Prices n.s.a (YoY & MoM) KEYNOTE CAPITALS LTD. The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400 028 Tel. : +9122-30266000 • www.keynotecapitals.com Disclaimer: This report is purely for information purpose and is based on public information. News content is attributable to various media, unless specified otherwise. All market related statistical data pertains to the immediately preceding trading day, unless stated otherwise. Neither the information nor any opinion expressed in this report constitutes an offer, or an invitation to make an offer, to buy or sell the securities mentioned herein. We or any of our directors, officers or employees shall not in any way be responsible for any loss arising from the use of this report. Investors are advised to apply their own judgment before acting on the contents of this report. The report has not been edited due to time constraints.