Archive for August, 2008
Thursday, August 28, 2008 2:31:11 PM IST
The markets are slowly melting down though they made few attempts to return back towards the green. Nifty is at 4267.90 down by 0.56%. BSE Sensex is down by 114 points and is at 14182 levels. Banking indices, both on BSE and NSE are down over 1%
CNX IT is down 0.91%. Bank Nifty is down 1.02%. Capital Goods and Banking sectors are down over 1% on the BSE Sensex.
The Ruppee appreciating on one side and crude oil softening on the other coupled with a possible impact of US Oil production due to the storm are driving the global markets.
The Indian Banking sector is one of the worst hit sectors in the recent stock market crash. Both internal factors (such as MTM losses etc) and external factors (oil price play, inflation, RBIs more frequent interference) has made Banking stocks tumble down. While this is a pain for the stock traders, the current price levels are found to be attractive, particularly to some breed of stocks. Of course, Banking stocks are always considered a save haven to invest on extreme long terms.
Not many analysts firms give a buy rating to the banking stock considering there are multiple factors that interfere. However, HDFC Bank amongst the Largecap banking stocks got a “Outperformer” while “Union Bank of India” amongst the mid/small cap banking stocks got a “Buy” rating from market research firms.
UBIs good asset quality, high loan book, operating efficiency and ample opportunities and initiatives (such as the joint venture with Dai-Ichi Insurance, Japan for insurance, KBC Asset Management NV, Belgium for Asset Management Business, Wealth Advisors (India)
Private Ltd for wealth management services) makes it a good best amongst its peers.
1 U.S. dollar = 43.5255 Indian Rupees
1 U.S. dollar = 108.9087 Japanese Yens
1 U.S. dollar = 0.6770 Euros
1 Ounce Gold = $831.90
1 Barrel Crude Oil = $118.81
August 28th, 2008
Thursday, August 28, 2008 1:32:57 PM IST
Stocks continued their down trend though the overall breadth is flat. Sensex is trading at 14213 levels down 83 points while NSE Nifty is at 4274 down 0.42%
CNX IT and Bank Nifty dipped more into the red. CNX IT is down 0.40% while Bank Nifty is down 0.86%. Cairn is up 3%. Sterlite Industries is marginally in the green. Hindalco recovered a bit but not enough to bring it to green. The script is down 3.53%.
Realty, Capital Goods, Banks are worst performers on the BSE Sectoral indices list so far today.
A leading brokerage company was giving a “Neutral” rating on L&T in its recent report. The house says L&T would report a profit of Rs 26.7b (up 29.3% YoY) in FY09 and Rs32.2b in FY10 (up 20.5% YoY). This means that the EPS will be Rs 91.4 per share and Rs 110 per share for the two period respectively. L&T’s capacity expansion plans, entry into new business areas (by setting up of Railway Business Unit etc.), increasing growth in GCC countries and thereby its global footprint and technology tieups with global majors (such as Mitsubishi Heavy
Industries) help the continue to drive its growth plans.
L&T is one of the most widely held stock by the Mutual Funds and is considered a must have script in any portfolio. The script is currently trading at 2527 levels. Its 52 week high price is 4690.00 and 52-week low price is 2101.00. Most other market firms are either putting a “Hold” or a “Neutral” rating for the stock.
1 U.S. dollar = 43.5255 Indian Rupees
1 U.S. dollar = 108.9087 Japanese Yens
1 U.S. dollar = 0.6770 Euros
1 Ounce Gold = $834.20
1 Barrel Crude Oil = $119.02
August 28th, 2008
Thursday, August 28, 2008 12:33:54 PM IST
The markets continue to trade in a range bound manner. Nifty is at 4281 down 0.25%. BSE Sensex is down by 46.76 points down at 14250. Reliance is trading at 2136 levels.
The CNX IT is down 0.11%. Bank Nifty is down 0.98%. CNX 100 is down 0.25% and the border CNX 500 is down 0.23%.
Chart toppers on NSE Nifty include Suzlon, ACC, Hero Honda, Bharti Airtel, Ambuja Cement, Ciarn, Tata Power, Sterlite, Cipla (All up over 1%)
Losers on Nifty include Hindalco, Dr. Reddy, DLF, HDFC Bank, BHEL, ICICI Bank, L&T, Reliance Communications, SBI, TCS (all down over 1%)
The BSE Midcap and Smallcap indices are down 0.36% and 0.32% respectively. Realty, Bankex, Capital Goods, PSU, Oil & Gas sectoral indices are down while Health Care, Auto, Consumer Durables are up.
Mukesh Ambani was in news yesterday for extending his support to the Tatas. Ambani was saying that the Tata Nano car is an innovative project that will extend India’s image globally and that India could become a hub for small cars.
Last Traded Price of select scripts:
Reliance: 2,136.00
Reliance Petro: 157.05
Reliance Natural Resources: 92.75
Tata Steel: 577.50
Tata Power: 1,026.00
Tata Motors: 423.90
1 U.S. dollar = 43.7005 Indian Rupees
1 U.S. dollar = 109.5050 Japanese Yens
1 U.S. dollar = 0.6802 Euros
1 Ounce Gold = $833.40
1 Barrel Crude Oil = $118.67
August 28th, 2008
Thursday, August 28, 2008 11:43:30 AM IST
The stock market indices took a bounce back after dipping deeper into the red. Trades overall are flat. The CNX Nifty is at 4285 down 0.16% while BSE Sensex is at 14256.03 down 40 points or 0.26%
CNX IT is down 0.01% and Bank Nifty is down 0.82%. Realty, Bankex, Capital Goods sectoral indices continue to be in red on the BSE.
Hero Honda made a come back. The script is trading at 826 levels and is up 2% today. Other gainers include Cairn, Suzlon, Bharti Airtel, Ambuja Cement, HCL Tech, Sterlite Industries, ACC, Cipla all up over 1%
The negative list by Hindalco. The script is down over 4%. DLF continues to slip. The script is trading at 471 levels now down by 1.45%
1 U.S. dollar = 43.7005 Indian Rupees
1 U.S. dollar = 109.5050 Japanese Yens
1 U.S. dollar = 0.6802 Euros
1 Ounce Gold = $832.70
1 Barrel Crude Oil = $119.11
August 28th, 2008
The following Mutual Fund Schemes are in NFO:
ABN AMRO Mutual Fund
ABN AMRO FIXED TERM PLAN - SERIES 12 PLAN C
ABN AMRO FIXED TERM PLAN - SERIES 13 PLAN C
Escorts Mutual Fund
Escorts Power & Energy Fund
Franklin Templeton Mutual Fund
Franklin Templeton Fixed Tenure Fund – Series X – Plan B
Franklin Templeton Fixed Tenure Fund – Series X – Plan D
Templeton Fixed Horizon Fund – Series XI – Plan B (367 days plan)
HDFC Mutual Fund
HDFC FMP 90D August 2008 (4)
JM Financial Mutual Fund
JM Multi Strategy Fund
Lotus India Mutual Fund
LOTUS INDIA FIXED MATURITY PLAN-375 DAYS-SERIES XVI
Lotus India Long Term FMP - Sr.I - Plan A - 20 Months
August 28th, 2008
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