MORNING NOTE
Rajesh Desai
MARKETS
Asian Market is trading higher as Hang Seng was up by 0.53% while Nikkei 225 was up by 0.66% and Chinese markets up by 0.17%.
Asian stocks rose and South Korea’s won rallied the most in a week on optimism U.S. lawmakers can reach an agreement on budget talks.
The yield on Japanese 10-year government bonds slumped to a nine-year low as the main opposition leader called for unlimited
monetary easing. Overnight U.S. markets were up by 0.83%. SGX Nifty at 8:00AM was trading at 5733 with a gain of 11.00 points.
TCS bags multi-million pound contract from UK Home Office. DBS and TCS will collaborate to update the organization’s business processes
to help improve decision making and reduce processing times. The IT firm will also build new integrated case management system to support
seamless integration and information gathering between disclosure and barring services. It is likely that the stock may follow a positive
trend during the day’s trade.
MARKET STATS AT 8:00AM
Domestic Indices | Last Price | CH | % CH | % CH 5D | N-Ferrous Metals | Last Price | CH | % CH | % CH 5D |
Sensex | 18842.08 |
305.07 |
1.65 |
2.80 |
Copper |
7775.00 |
7.50 |
0.10 |
0.78 |
|
Nifty |
5727.45 |
91.55 |
1.62 |
2.01 |
Aluminum |
1995.50 |
-4.50 |
-0.23 |
2.62 |
|
Global Indices |
Last Price |
CH |
% CH |
% CH 5D |
Zinc |
1983.50 |
-3.75 |
-0.19 |
3.09 |
|
Dow Jones |
12985.11 |
106.98 |
0.83 |
1.54 |
Nickel |
16900.00 |
-80.00 |
-0.47 |
2.08 |
|
NASDAQ |
2991.779 |
23.99 |
0.81 |
2.57 |
Lead |
2184.00 |
-4.00 |
-0.18 |
0.88 |
|
S&P 500 |
1409.93 |
10.99 |
0.79 |
1.59 |
Bullion & Crude Oil |
Last Price |
CH |
% CH |
% CH 5D |
|
FTSE 100 |
5803.28 |
3.57 |
0.06 |
0.89 |
Gold |
1720.75 |
1.00 |
0.06 |
(0.51) |
CAC 40 | 3515.19 |
13.06 |
0.37 |
1.09 |
Silver |
33.71 |
-0.05 |
-0.15 |
1.09 |
|
DAX |
7343.41 |
11.08 |
0.15 |
2.21 |
NYMEX Crude Oil |
86.67 |
0.18 |
0.21 |
(0.81) |
Nikkei 225 | 9369.68 |
61.33 |
0.66 |
1.60 |
ADR/GDR |
Last Price |
CH |
% CH |
% CH 5D |
|
Hang Seng |
21823.13 |
114.15 |
0.53 |
0.37 |
Infosys |
43.44 |
-0.16 |
-0.37 |
3.31 |
|
Shanghai |
1973.67 |
0.15 |
0.01 |
(2.08) | ICICI B |
38.78 |
0.26 |
0.67 |
2.84 |
|
CSI 300 |
2132.683 |
3.52 |
0.17 |
(2.06) | Wipro |
8.41 |
-0.01 |
-0.12 |
3.96 |
|
KOSPI |
1930.51 |
17.73 |
0.93 |
1.63 |
Sterlite |
7.29 |
0.00 |
0.00 |
4.14 |
|
Taiwan |
7496.69 |
61.76 |
0.83 |
5.50 |
HDFCB |
40.27 |
-0.52 |
-1.27 |
3.12 |
|
Indices Future |
Last Price |
CH |
% CH |
% CH 5D |
Tata Mo |
24.21 |
0.26 |
1.09 |
(0.70) |
SGX Nifty | 5733 |
11.00 |
0.19 |
2.17 |
Tata Com |
8.4 |
0.02 |
0.24 |
(0.83) |
Dow Jones | 12952 |
-5.00 |
(0.04) | 1.19 |
DR.Reddy |
32.51 |
-0.18 |
-0.55 |
2.36 |
|
Currencies & Freight |
Last Price |
CH |
% CH |
% CH 5D |
MTNL |
0.87 |
-0.03 |
-2.90 |
(8.42) |
USD-INR X-RATE | 55.46 |
-0.27 |
0.49 |
(0.65) | Patni |
#N/A N/A |
#N/A N/A |
#N/A N/A |
#N/A N/A |
|
EUR-INR X-RATE |
71.78 |
-0.49 |
0.68 |
(1.72) | SBI |
78.1 |
0.10 |
0.13 |
0.39 |
|
INR-JPY X-RATE |
1.48 |
0.00 |
0.20 |
1.15 |
RIL |
28.14 |
-0.11 |
-0.39 |
0.82 |
|
BALTIC DRY INDEX |
1104 |
7.00 |
0.64 |
2.889096 |
L&T |
29.34 |
-0.15 |
-0.51 |
2.34 |
SOURCE:BLOOMBERG
ECONOMY:
* 2:30 pm: Reserve Bank of India to release weekly data on reserve money.
EQUITY MOVERS:
* GMR Infrastructure Ltd. said Nov. 27 it has got a notice from the Maldives government terminating its contract to run the island’s
largest airport.
* Vedanta Resources Plc, controlled by billionaire Anil Agarwal, will pay fair price for government’s stake in its units Hindustan Zinc
Ltd. and Bharat Aluminium Co., Agarwal said in New Delhi on Nov. 27.
* Hindustan Petroleum Corp., India’s third-largest state refiner, canceled its tender to buy crude for delivery to Visakhapatnam from
Dec. 6 to Dec. 12, said four traders with knowledge of the matter.
* Crompton Greaves Ltd. is setting up a plant to manufacture power control devices in Bangalore that will become operational by the
year-end.
OTHER NEWS:
* Strategists at UBS, Morgan Stanley and Citigroup are advising investors to buy Asian equities most tied to economic growth after
valuations fell and the global economy showed signs of recovery; UBS overweight India shares for 2013.
* Siemens AG foresees “chances of delay” at 2 solar-thermal projects in India owned by Lanco Infratech and Corporate Ispat Alloys
for which it has turbine-supply contracts, Eva- Maria Baumann, Siemens Energy spokeswoman.
* India’s Supreme Court asked the patent office to hear an application filed by Cipla challenging patent granted to Sunitinib in India.
* India should ease monetary policy as subdued economic growth in the near term helps to damp inflation, the Organization for Economic
Cooperation & Development says.
* The Securities & Exchange Commission said four India-based brokerage firms -- Ambit Capital Private Ltd., Edelweiss Financial Services Ltd.,
JM Financial Institutional Securities Private Ltd. and Motilal Oswal Securities Ltd. -- agreed to pay more than $1.8m to settle allegations that
they violated U.S. registration requirements.
* Telenor ASA, the Nordic region’s biggest phone operator, is in talks with Tata Teleservices Ltd. to combine operations in India. Japan’s NTT DoCoMo Inc., which owns a 26 percent stake in Tata Teleservices, is likely to remain a shareholder in the merged entity.
* Goldman cuts India’s 2013 real GDP forecast to +6.5% from +6.8%. India faces near-term challenge of bringing inflation lower while
instituting a series of reforms to lift growth over medium term, Goldman Sachs writes in a note.
* Jaiprakash Associates borrowed 12 billion rupees in a loan due 2020 to refinance debt. ICICI Bank and Indian Bank lent funds.
* Electrosteel Steels signed a 19.48 billion rupee project finance facility due 2021.
EARNINGS:
* MRF Ltd.
BULK DEALS
* L&T Finance Holdings sells 8m shares of Federal Bank, and
HSBC Global Investment Fund buys 1.43m shares: BSE website
CONFERENCES/EVENTS
* 8 am: Mumbai. Day two of the All India Trade Union Congress’s 40th national congress.
* 11:45 am: Mumbai. Dariusz Kucz, vice president Asia Pacific, Danone Baby Nutrition, Laurent Marcel, managing director, Nutricia
Baby Nutrition, India and Anver Moola, Managing Director, Medical Nutrition, India will address the media.
* 12 pm: Chennai. The Federation of Indian Micro and Small & Medium Enterprises is organizing a briefing session titled “Knowledge and
News Network”.
* 7:30 pm: New Delhi. Conde Nast Traveller India will host the Readers’ Travel Awards 2012.
SOURCE;BLOOMBERG
Regards,
Team Microsec Research
Microsec Capital Limited
Tel: 91 33 30512100
Fax: 91 33 30512020
CA. Rajesh Desai