Archive for April 2nd, 2007
Value of deals reported on ICDM on 2nd April , 07 , through ICDM System as well as Internet portal is = Rs 0.12 Crs.
Total Number of deals : 02
F&O turnover (one sided) for the trade date 02 April 2007 .
1.) Sensex Futures = Rs 714.81 crores.
2.) Reliance Futures = Rs 57.64 crores.
3.) Total F&O Turnover = Rs 772.45 crores.
All the above values represent one sided turnover.
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April 2nd, 2007
NSE Press Release
The National Stock Exchange of India Limited has suspended the trading member, Growth Avenues Ltd., with effect from April 02, 2007, due to failure of the trading member in meeting the capital adequacy requirements for continued admittance to the trading membership of the Exchange. Consequently, National Securities Clearing Corporation Ltd. has also suspended the said clearing member, Growth Avenues Ltd., with effect from April 02, 2007.
The National Stock Exchange of India Limited has suspended the trading member, Claridges Investments & Finance Pvt. Ltd., with effect from April 02, 2007, due to failure of the trading member in meeting the capital adequacy requirements for continued admittance to the trading membership of the Exchange. Consequently, National Securities Clearing Corporation Ltd. has also suspended the said clearing member, Claridges Investments & Finance Pvt. Ltd., with effect from April 02, 2007.
April 2nd, 2007
NSE Press Release
NSE and BSE have been working together to establish a common portal for filing and dissemination of information provided by corporate listed on the Exchanges. The URL for the portal is www.corpfiling.co.in.
On January 1, 2007, NSE and BSE jointly launched the aforesaid common portal that is jointly owned, managed and maintained by these two exchanges. Since its launch, the portal has become a single source to view information filed by companies listed with NSE and / or BSE.
From April 2, 2007, the portal shall also serve as a common filing platform to companies listed in NSE and/ or BSE. A listed company would be required to file its submissions through this portal irrespective of the stock exchange(s) on which it is listed and the information so filed can be viewed at this portal.
In the first phase, top 100 common companies computed on market capitalization shall be required to make all their filings in electronic form through the common portal. The list of these 100 companies is available on the website of NSE and BSE.
Initially for a period of 3 months, filings by these 100 companies shall continue to be as per the current practice (i.e. through fax/courier etc.) and also electronically through this portal. After 3 months, these 100 companies shall be required to make all filings only electronically to exchanges through this portal. The number of companies, which shall make their filings through this portal, shall be increased over a period in a phased manner in consultation with SEBI.
April 2nd, 2007
One of the red day in the Indian stock markets as indices, initiated by the news of CRR hike by RBI, went on a massive selling spree without sparing any sector.
Sensex opened weak at 12,811.93 and saw selling pressure from right then. It touched an intraday high at 12,811.93 and intraday low at 12,425.52 before closing at 12,455.37 (-616.73 pts; -4.72%). The other smaller indices closely followed the bigger indices. Midcap index lost -174.83 pts (-3.25%) while Small Cap index lost -176.45 pts (-2.73%). BSE 100, BSE 200 and BSE 500 all lost over 4%
Looking at sectors, Auto lost the most. The BSE Auto Index lost 299 points (-6.1%). Bank, Capital Goods followed with over 5% losses.
The Nifty closed the day at 3633.60 (-4.92%). Bank Nifty lost 6.57% while CNX IT lost 4.64%.
All the 12 stocks on Bank Nifty closed in red. Corporation Bank, OBC and PNB lost over 10% in a single day. Bank of India lost 8% while Syndicate Bank closed the day poor by 7.9%. Nifty 50 losers apart from the Banking stocks are Maruti, M&M (-8%), Tata Motors, Wipro, Hero Honda (-7%), HCL Tech and ONGC (both -6%)
GAIL got the attention today. The script opened at 264.90 and last traded at 266.95 (+0.91%)
Hexaware is the lone stock to close in positive on CNX IT today. The script closed up 1.51%. Top CNX IT losers of the day include Wipro (-7%), HCL Tech (-6%), Tata Elxsi, Polaris (both -5%) and Subex (-4.9%)
One surprise sector today is the Sugar stocks. Balrampur Chinni Mills closed at 67.05 while Dwarakesh Sugar closed at 78.15
An unfortunate day for new listings
Themis Medicare Limited opened at 141.50 and closed at 128.30 (-9.33%)
Techno Electric And Engineering Company Limited opened at 103.65 and closed at 100.95 (-2.60%)
K S Oils Limited
JMT Auto Limited opened at 94.00 and closed at 90.35 (-3.88%)
April 2nd, 2007
Blame it the Reserve Bank of India’s decision to do a upward revision of the CRR hike – the Indian stock markets took a serious note and with traders going into panic selling, the fire caught up from Banking stocks then passed on Auto and then to other sectors such as the Capital goods and in no time, the Sensex is in deep red – about 560 points down in the noon.
While some experts say that the CRR hike is a temporary thing, having already seen CRR hikes in the past few days and yet another CRR round the corner when RBI would use it as a weapon again during April, a large number of traders have decided to do partial selling of their holdings or even temporary exit from the sector or even better by staying away from the Banking sector.
Every time a big CRR hike comes up, banks would have to consider revision of their Prime Lending Rate (PLR) which makes loans dearer to customers (such as Industries or even retail individual customers like us. This will make customers to stay away from taking newer loans. Some may even begin to consider repaying a part of the loans they have taken.
The case now is not just to do with the Banking sector. Todays downfall has made stocks from many other sectors to become cherry picks. The broad indices loosing 5% would wake up long term investors to take a view on taking fresh position of the stocks or even building up their portfolios.
While a +100/-100 points trading sessions became a bit common, todays session is more like the February 28 trading session – the day on which Chinese stock market cracked the fire followed by a lackluster Indian Union budget day when the stock markets closed down by about 550 points.
Some experts say that this huge ups and downs will continue for few more days and could even spread till May 07. Keeping these calls, few doubt if the Indian long term story is still in tact?
April 2nd, 2007
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