It was an extremely disappointing day for the market, as well as the economy. Inflation for week ended June 7 came out at 13-year high of 11.05%, which was much more than expected. Global cues were weak and inflation added more fuel to the fire. Panic selling pulled the key indices to new 2008-lows. Sensex ended at 14,571, down 516 points from the previous close. Nifty shut shop at 4347, down 156 points. CNX Midcap and BSE Smallcap indicies lost 3.4% each. Realty, oil & gas, metal and banking stocks took the worst hit. Reliance Communications, Reliance Industries, JP Associates and Hindalco were among the ones that dragged the Sensex lower. But ONGC and Mahindra & Mahindra were the gainers on the Sensex
Friday, June 20, 2008
Israel Exercise Seen Readying Iran Strike, NYT Says June 20 (Bloomberg) -- A military exercise carried out by Israel seems to have been a rehearsal for a bombing attack on Iran's nuclear facilities and long-range conventional missiles, the New York Times reported, citing several unidentified U.S. officials.
Lotus Eye Care Hospital IPO
IPO of Lotus Eye Care Hospital subscribed by 0.99 times at 3 PM on FridayANyone Can STBT Nifty On High TGT 4240 or more
FII Selling Heavly
FIIs have been selling aggressively post noon today, while domestic institutions are on the sidelines
There's complete lack of buying interest. Uncertainity (political crisis) has been discouraging long funds to buy in the market. RBI to check inflation in coming days, therefore sentiment is low towards rate sensitives.
There's complete lack of buying interest. Uncertainity (political crisis) has been discouraging long funds to buy in the market. RBI to check inflation in coming days, therefore sentiment is low towards rate sensitives.
Funnnnn
A boss asked sardar 2 bring 2 corner tickets for a movie to enjoy with his Girl Friend
Sardar Brought 2 corner tickets
A1 and A24....
Sardar Brought 2 corner tickets
A1 and A24....
KGN Fine
222 BROKERS IMPOSED FINE OF 5 LAKHS EACH IN KGN AND 118 BROKERS IN SYLPH 5 LAKHS EACH TOTAL AROUND 17 CRORES
52 week low or near to low in f&O
52 week low or near to low in f&O : abb , air deccan , albk , andhra bk , ansal infra , apil , bajaj hldng , beml , bpcl , brigade , cbi , dlf , gdl , gmr infra , gt offshore , indian hotel , j&k bank , jp assoc , kesoram , ktk bank , nagarjuna const , obc , omaxe , parsvnath , peninsula land , pnb , r power , sobha , tata motors , vijaya bank , wock pharma , wwil .
The U.S. Energy Department in a report on June 10 said China`s oil consumption is expected to rise 440,000 barrels to an average 8.02 million barrels a day this year.
Crude oil prices are expected to trade weak touching the level of USD 131.60. If it breaks this level, it may see the level of USD 125.
Crude oil prices are expected to trade weak touching the level of USD 131.60. If it breaks this level, it may see the level of USD 125.
hmmmmmmmmm
We expect interest rate to go up between 0.5 to 1% after RBI increasing repo rate by 50 bps and CRR hike by 50-75 bps
Impact on Rate sensitive sectors:
(a) Auto: The EMI for 2 wheeler loan may increase by max Rs 50 / month & Cars by Rs 450 / month - impact not very significant
(b) Housing loan: EMI increase may be between 2-5% for the borrowers. Although, impact could be negative on banks and real estate companies, we expect genuine buyers to execute their demand for housing even during such times.
Impact on Rate sensitive sectors:
(a) Auto: The EMI for 2 wheeler loan may increase by max Rs 50 / month & Cars by Rs 450 / month - impact not very significant
(b) Housing loan: EMI increase may be between 2-5% for the borrowers. Although, impact could be negative on banks and real estate companies, we expect genuine buyers to execute their demand for housing even during such times.
Reliance Infrastructure
Reliance Infrastructure plans to invest R s30,000 crores in the next 3 years ot expand its engineering and construction business in India and acquire assets in India. The company will borrow as much as 80% of the funds.
20-June News
20-June-08
News
Headlines for the day
Corporate News Headline
Reliance Infrastructure is planning to invest USD 7 bn in the next three years to expand its engineering and construction business in India and acquire assets in overseas. (BS)
Tata Steel and Essar Steel are vying for a majority stake in the proposed joint venture of Indonesia´s PT Krakatau Steel to build a 2.5 MT plant. (BS)
Power Finance Corp sanctioned a loan of Rs. 100 bn to NTPC for various projects to be completed in the current 11th Five Year plan. (BS)
Economic and Political Headline
The RBI has delayed the plan to allow trading in credit derivatives as the global financial crisis ensured the collapse of the US subprime-mortgage market. (BS)
The direct tax receipts rose 71.3% in the first two months of the current fiscal year from a year ago, indicating the economy was sustaining its growth pace. (ET)
The UK retail sales rose 3.5% in May due to an increase in the sales of textiles, clothing, and footwear. (WSJ)
News
Headlines for the day
Corporate News Headline
Reliance Infrastructure is planning to invest USD 7 bn in the next three years to expand its engineering and construction business in India and acquire assets in overseas. (BS)
Tata Steel and Essar Steel are vying for a majority stake in the proposed joint venture of Indonesia´s PT Krakatau Steel to build a 2.5 MT plant. (BS)
Power Finance Corp sanctioned a loan of Rs. 100 bn to NTPC for various projects to be completed in the current 11th Five Year plan. (BS)
Economic and Political Headline
The RBI has delayed the plan to allow trading in credit derivatives as the global financial crisis ensured the collapse of the US subprime-mortgage market. (BS)
The direct tax receipts rose 71.3% in the first two months of the current fiscal year from a year ago, indicating the economy was sustaining its growth pace. (ET)
The UK retail sales rose 3.5% in May due to an increase in the sales of textiles, clothing, and footwear. (WSJ)