Microsec - MORNING NOTE
RAJESH DESAI
MARKETS
Asian Market is trading higher as Hang Seng was up by 2.48% while Nikkei 225 was up by 1.54% and Chinese markets were up by 0.33%. Asian stocks rose for a seventh day as the Federal Reserve unveiled new measures to boost growth and
reduce unemployment in the world’s largest economy. Copper advanced, while South Korea’s currency jumped. Overnight U.S. markets were up by 1.55%. SGX Nifty at 8:00AM was trading at 5551 with a gain of 105 points.
Impact of Fed move and diesel price hike
The Fed liquidity measure is likely to boost liquidity and positive sentiment is already reflecting in SGX Nifty. Diesel price hike by INR5/liter and steps to curb subsidized LPG supply is also positive on the India Inc on the whole, albeit short term inflation may go up. However this may send positive signals on policy front which is the need of the hour, hence improving market sentiment further. Impact on FMCG may be negative in the short term as consumers feel the heat and curb demand. Also IT sector, which continued to remain defensive may remain lackluster and decline for the moment after an initial spurt. Banking & finance may also in the long run be positive in the long run as INR may appreciate on positive sentiments. Today market is expected to open gap up led by oil & gas sector and metals. INR may appreciate.
MARKET STATS AT 8:00AM
Domestic Indices | Last Price | CH | % CH | % CH 5D | N-Ferrous Metals | Last Price | CH | % CH | % CH 5D |
Sensex | 18021.16 |
21.13 |
0.12 |
3.89 |
Copper |
8301.00 |
226.00 |
2.80 |
4.15 |
|
Nifty |
5435.35 |
4.35 |
0.08 |
1.75 |
Aluminum |
2135.00 |
33.00 |
1.57 |
5.54 |
|
Global Indices |
Last Price |
CH |
% CH |
% CH 5D |
Zinc |
2072.50 |
36.50 |
1.79 |
5.20 |
|
Dow Jones |
13539.86 |
206.51 |
1.55 |
1.86 |
Nickel |
17280.00 |
530.00 |
3.16 |
4.73 |
|
NASDAQ |
3155.828 |
41.52 |
1.33 |
0.64 |
Lead |
2207.00 |
49.50 |
2.29 |
5.35 |
|
S&P 500 |
1459.99 |
23.43 |
1.63 |
1.95 |
Bullion & Crude Oil |
Last Price |
CH |
% CH |
% CH 5D |
|
FTSE 100 |
5819.92 |
37.84 |
0.65 |
0.74 |
Gold |
1773.60 |
6.56 |
0.37 |
2.19 |
|
CAC 40 |
3502.09 |
-41.70 |
(1.18) | (0.22) |
Silver |
34.71 |
0.03 |
0.09 |
3.05 |
|
DAX |
7310.32 |
-33.21 |
(0.45) | 2.00 |
NYMEX Crude Oil |
98.95 |
0.64 |
0.65 |
2.62 |
|
Nikkei 225 |
9133.44 |
138.29 |
1.54 |
2.95 |
ADR/GDR |
Last Price |
CH |
% CH |
% CH 5D |
|
Hang Seng |
20544.2 |
496.57 |
2.48 |
3.75 |
Infosys |
47.33 |
1.23 |
2.67 |
6.00 |
|
Shanghai |
2117.328 |
6.95 |
0.33 |
(0.49) | ICICI B |
36.38 |
1.22 |
3.47 |
8.92 |
|
CSI 300 |
2304.088 |
5.63 |
0.24 |
(0.56) | Wipro |
8.67 |
0.17 |
2.00 |
5.60 |
|
KOSPI |
2001.43 |
50.74 |
2.60 |
3.72 |
Sterlite |
7.13 |
0.08 |
1.13 |
2.44 |
|
Taiwan |
7694.48 |
115.68 |
1.53 |
3.63 |
HDFCB |
36.17 |
0.87 |
2.46 |
4.72 |
|
Indices Future |
Last Price |
CH |
% CH |
% CH 5D |
Tata Mo |
23.96 |
0.26 |
1.10 |
12.01 |
|
SGX Nifty |
5551.5 |
105.50 |
1.94 |
3.64 |
Tata Com |
8.84 |
0.12 |
1.38 |
8.47 |
|
Dow Jones |
13546 |
26.00 |
0.19 |
1.88 |
DR.Reddy |
32.58 |
0.73 |
2.29 |
7.99 |
|
Currencies & Freight |
Last Price |
CH |
% CH |
% CH 5D |
MTNL |
1.45 |
-0.01 |
-0.68 |
4.31 |
|
USD-INR X-RATE |
55.42 |
0.19 |
(0.34) | 0.42 |
Patni |
18.62 |
-0.04 |
-0.21 |
0.92 |
|
EUR-INR X-RATE |
71.50 |
0.18 |
(0.25) | (1.75) |
SBI |
71.5 |
-0.50 |
-0.69 |
2.14 |
|
INR-JPY X-RATE |
1.42 |
0.00 |
(0.21) | 0.07 |
RIL |
28.86 |
-0.24 |
-0.82 |
3.63 |
|
BALTIC DRY INDEX |
663 |
2.00 |
0.30 |
-1.777778 |
L&T |
25.43 |
-0.07 |
-0.27 |
6.31 |
SOURCE:BLOOMBERG
ECONOMY:
* 12 p.m. Wholesale price inflation for August: estimate 7.10 percent.
* Reserve Bank of India Deputy Governor Subir Gokarn at a discussion on financial services in Kochi in the state of Kerala.
* The Reserve Bank of India to release weekly data on foreign-exchange reserves, bank loans and government borrowing.
EQUITY MOVERS:
* Essar Oil Ltd.: India’s Supreme Court asked the operator of the country’s second-largest private refinery to pay sales tax dues to the
Gujarat state government with interest at 10 percent in eight installments, starting January 2013. The order was given by a two-judge
panel headed by A.K. Patnaik.
* Power Grid Corporation of India Ltd.: The nation’s largest electricity transmission company plans to raise 40 billion rupees selling bonds
this month, R.P. Sasmal, director of operations.
OTHER NEWS:
* Diesel prices will rise by 5 rupees a liter from today, the government said in a statement yesterday, citing a decision by the Cabinet Committee
on Political Affairs. The retail price of gasoline was unchanged, while excise duty on the fuel was reduced by 5.30 rupees a liter. The sale of
cooking gas at subsidized prices has been restricted.
* India’s cabinet may today consider allowing foreign airlines to buy stakes in local carriers. Ministers may review a plan to permit carriers to
acquire as much as 49 percent of local counterparts.
* India’s August exports shrank 9.7 percent to $22.3 billion and imports slid 5.08 percent to $38 billion.
* India deferred a decision on ethanol pricing for fuel blending, Farooq Abdullah, minister for new and renewable energy, told reporters
in New Delhi. A panel of ministers will consider the matter on Sept. 20.
* LIC Housing Finance Ltd., India’s second-largest non-bank mortgage lender, is targeting rich home buyers and property developers to boost
credit after net interest income grew at the slowest pace in seven years.
* Syndicated lending in India dropped to the least in four years as treasurers say they are wary of slowing economic growth and the fastest
inflation among the world’s biggest emerging markets.
* The Federal Reserve said it will expand its holdings of long- term securities with open-ended purchases of $40 billion of mortgage debt a month in a third round of quantitative easing asit seeks to boost growth and reduce unemployment.
SHAREHOLDER MEETS:
* 10 a.m. Delhi. TV18 Broadcast Ltd. holds its 7th annual shareholder meeting at MPCU, Mahatma Gandhi Sanskritik Kendra, Shree Delhi
Gujarati Samaj Marg, Civil Lines.
* 10:30 a.m. Mumbai. Indian Oil holds its 53rd annual shareholder meeting at Nehru Centre Auditorium, Dr. Annie Besant Road, Worli.
* 11 a.m. Chennai. Neyveli Lignite Corp. holds its 56th annual shareholder meeting at Sathguru Gnanananda Hall, T.T.K. Road.
* 11 a.m. Kutch, Gujarat. Welspun Corp Ltd. holds its 17th annual shareholder meeting at its registered office at Welspun City, Village Versamedi,
Taluka Anjar.
CONFERENCES/EVENTS:
* 9:30 a.m. Delhi. ISACA organizes the Asia-Pacific Computer Audit, Control and Security Conference on Sept. 14 & 15.
* 9:30. Delhi. Sahil Chopra & Jacob George, co-founders of iCubes, address the media at Asia’s first e-mail marketing education program.
* 10 a.m. New Delhi. The All India Management Association organizes the 11th National HRM Summit on Sept. 14 & 15.
* 10 a.m. Kolkata. CII organizes Banking Colloquium 2012, a conference on survival and growth in uncertain times.
* 10 a.m. New Delhi. D.S. Kalha, secretary in the department of pharmaceuticals, is the chief guest at PharmaTech India 2012, organized
by the PHD Chamber of Commerce and Industry.
* 10:30 a.m. New Delhi. Labour & Employment Minister Mallikarjun M. Kharge will address a session on Safety for Sustainable Manufacturing
Growth and will give away the 2nd FICCI Safety Excellence Awards in Manufacturing Sector.
* 1100. Kochi. Reserve Bank of India Deputy Governor Subir Gokarn to participate in a panel discussion: Financial Services of Emerging Kerala 2012.
* 12:15 p.m. New Delhi. The Indian Council of Ceramic Tiles & Sanitaryware organizes a session with Chairman Shreekant Somany and board
members on their talks with the Ministry of Petroleum & Natural Gas and the Ministry of Commerce.
* 1 p.m. Gurgaon. Sharad Loomba, chief operating officer of Vatika Business Centre, to announce two new business centers.
* 3 p.m. New Delhi. Arun Maria, member of the Planning Commission, will address FICCI’s interactive session on Implementing the Manufacturing
Strategy: Disciplines of Coordination and Implementation: International Best Practices.
* 6:30 p.m. Gurgaon. Press conference to launch Hang Out, which has India’s first virtual rollercoaster ride and other games.
SOURCE:BLOOMBERG
Regards,
Team Microsec Research
Microsec Capital Limited
Tel: 91 33 30512100
Fax: 91 33 30512020
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--
CA. Rajesh Desai