MARKETS
Asian Market is trading higher as Hang Seng was up by 1.12% while Nikkei 225 were up by 0.31% and Chinese markets were up by 0.52%. Asian stocks gained, with the regional benchmark index heading for its biggest weekly advance since February, as optimism the Federal Reserve will act to stimulate economic growth tempered concerns that Europe’s debt crisis will worsen. Overnight U.S. markets were up by 1.24%. Nifty at 8:00AM was trading at 5075 with a gain of 25 points .
MARKET STATS AT 8:00AM
Domestic Indices |
Last Price |
CH |
% CH |
% CH 5D |
N-Ferrous Metals |
Last Price |
CH |
% CH |
% CH 5D |
Sensex |
16677.88 |
202.63 |
1.20 |
0.17 |
Copper |
7486.50 |
66.50 |
0.90 |
2.63 |
Nifty |
5054.75 |
66.70 |
1.30 |
(0.27) |
Aluminium |
1962.50 |
8.50 |
0.44 |
(1.13) |
Global Indices |
Last Price |
CH |
% CH |
% CH 5D |
Zinc |
1892.50 |
0.50 |
0.03 |
1.31 |
Dow Jones |
12651.91 |
155.53 |
1.24 |
1.53 |
Nickel |
16800.00 |
165.00 |
0.99 |
(0.74) |
NASDAQ |
2836.33 |
17.72 |
0.63 |
0.19 |
Lead |
1929.00 |
9.00 |
0.47 |
1.42 |
S&P 500 |
1329.1 |
14.22 |
1.08 |
1.07 |
Bullion & Crude Oil |
Last Price |
CH |
% CH |
% CH 5D |
FTSE 100 |
5467.05 |
-16.76 |
(0.31) |
0.35 |
Gold |
1626.30 |
2.58 |
0.16 |
2.06 |
CAC 40 |
3032.45 |
2.41 |
0.08 |
(1.26) |
Silver |
28.78 |
0.14 |
0.48 |
0.99 |
DAX |
6138.61 |
-13.88 |
(0.23) |
(0.09) |
NYMEX Crude Oil |
84.66 |
0.75 |
0.89 |
0.67 |
Nikkei 225 |
8595.88 |
26.99 |
0.31 |
1.62 |
ADR/GDR |
Last Price |
CH |
% CH |
% CH 5D |
Hang Seng |
19019.33 |
210.93 |
1.12 |
2.79 |
Infosys |
44.36 |
0.56 |
1.28 |
1.09 |
Shanghai |
2307.814 |
11.87 |
0.52 |
1.16 |
ICICI B |
29.83 |
-0.29 |
-0.96 |
(0.93) |
CSI 300 |
2572.432 |
12.01 |
0.47 |
1.91 |
Wipro |
8.84 |
0.07 |
0.80 |
(1.12) |
KOSPI |
1861.12 |
-10.36 |
(0.55) |
1.39 |
Sterlite |
7.32 |
-0.11 |
-1.48 |
4.27 |
Taiwan |
7144.76 |
69.66 |
0.98 |
2.07 |
HDFCB |
29.83 |
-1.04 |
-3.37 |
(2.87) |
Indices Future |
Last Price |
CH |
% CH |
% CH 5D |
Tata Mo |
20.69 |
-0.47 |
-2.22 |
(3.90) |
SGX Nifty |
5075.5 |
24.50 |
0.49 |
0.09 |
Tata Com |
7.61 |
-0.18 |
-2.31 |
(3.06) |
Dow Jones |
12673 |
-3.00 |
(0.02) |
0.78 |
DR.Reddy |
27.83 |
-0.31 |
-1.10 |
(4.82) |
Currencies & Freight |
Last Price |
CH |
% CH |
% CH 5D |
MTNL |
0.81 |
-0.02 |
-2.41 |
(0.42) |
USD-INR X-RATE |
55.82 |
0.13 |
(0.23) |
(1.56) |
Patni |
18.45 |
-0.04 |
-0.22 |
(0.05) |
EUR-INR X-RATE |
70.19 |
0.39 |
(0.55) |
(1.48) |
SBI |
78 |
-1.65 |
-2.07 |
(0.70) |
INR-JPY X-RATE |
1.42 |
-0.01 |
0.35 |
0.91 |
RIL |
25.7 |
-0.25 |
-0.96 |
(2.61) |
BALTIC DRY INDEX |
912 |
10.00 |
1.11 |
4.58716 |
L&T |
23.29 |
-0.79 |
-3.28 |
0.39 |
SOURCE:BLOOMBERG
EQUITY MOVERS:
* Housing Development Finance Corp. :Macquarie Capital Securities India Ltd. cut the stock rating of India’s largest mortgage lender
to underperform because the company used “aggressive accounting practices.”
* ICICI Bank Ltd.: India’s second-largest lender by assets sees FY13 domestic loan growth of about 20 percent.
* Oil Companies: India is interested in investing in Algeria’s LNG projects and may import more crude and LPG cargoes from Saudi Arabia
this year.
OTHER NEWS:
* ING Vysya Bank Ltd., the only Indian lender to be controlled by a foreign company, plans to expand credit at a faster pace than local rivals even
as the economy slows. The lender’s loans will rise more than the central bank’s estimate of 17 percent growth for banks.
* India’s biggest fund managers say the central bank needs to cut lenders’ reserve requirements to revive economic growth as cash
shortages in the financial system enter a record eighth month.
* Reserve Bank of India officials and other regulators discussed rupee stability and Euro zone contingency plan at a Financial Stability and
Development Council meeting in Hyderabad, deputy governor K.C. Chakrabarty said yesterday.
* India sought more time for settling contractual terms for development of Iran’s South Pars Phase 12 by ONGC Videsh Ltd.- led
Consortium.
* Delays at India’s biggest ports are lengthening amid a surge in agricultural exports.
* Policy makers can’t curb inflation without sacrificing some growth, central bank Governor Duvvuri Subbarao said at an event.
* Asian stocks swung between gains and losses as central banks warned of financial-market turmoil if Europe can’t contain its debt
crisis, tempering speculation that further stimulus will boost earnings.
CONFERENCES/EVENTS:
* 11 a.m. Pune. John Rice, vice chairman, president & CEO of global growth operations at General Electric Co. will address media after
the MoU signing event for GE India’s manufacturing facility. Speakers include John Flannery, president & CEO of GE’s India unit.
* 11:30 a.m. Mumbai. Sashi Shankar, chief marketing officer and Rajat Mukarji, chief corporate affairs officer of Idea Cellular Ltd.
to hold press conference for announcement of expansion of its 3G services.
* 3:30 p.m. Chennai. Narasimhan Santhanam, co-founder & director of Energy Alternatives India to speak at Reaction 2012, an event on
emerging and future renewable energy opportunities.
* 3:30 p.m. New Delhi. Rural Litigation and Entitlement Kendra organizes press conference to brief about immediate resumption of stalled
hydro power projects in Uttarakhand.
* 4:30 p.m. Bangalore. The Chief of Bureau (Sports) and All India Tennis Association (AITA) organize media meet with AITA election
committee to announce the Indian Tennis Team for the London Olympics 2012.
* 5 p.m. New Delhi. International Management Institute organizes interaction session with Kaushik Basu, India’s chief economic adviser
and C. Marks, professor of International Studies of Cornell University.
SOURCE:BLOOMBERG
Regards,
Team Microsec Research
MARKETS
Asian Market is trading higher as Hang Seng was up by 1.51% while Nikkei 225 were up by 1.76% and Chinese markets were up by 0.52%. Asian stocks advanced and the euro strengthened as data showed politicians that support Greece’s bailout won enough seats to control parliament, easing concern the currency bloc would lose one of its 17 members. Oil rallied while treasury futures declined. Overnight U.S. markets were up by 0.91%. Nifty at 8:00AM was trading at 5182 with a gain of 45 points
MARKET STATS AT 8:00AM
Domestic Indices |
Last Price |
CH |
% CH |
% CH 5D |
N-Ferrous Metals |
Last Price |
CH |
% CH |
% CH 5D |
Sensex |
16949.83 |
271.95 |
1.63 |
1.38 |
Copper |
7544.00 |
33.50 |
0.45 |
1.67 |
Nifty |
5139.05 |
84.30 |
1.67 |
1.68 |
Aluminium |
1951.50 |
18.50 |
0.96 |
(1.06) |
Global Indices |
Last Price |
CH |
% CH |
% CH 5D |
Zinc |
1909.00 |
5.00 |
0.26 |
1.01 |
||||||
Dow Jones |
12767.17 |
115.26 |
0.91 |
1.70 |
Nickel |
16920.00 |
70.00 |
0.42 |
(2.20) |
NASDAQ |
2872.8 |
36.47 |
1.29 |
0.50 |
Lead |
1940.00 |
17.00 |
0.88 |
1.36 |
S&P 500 |
1342.84 |
13.74 |
1.03 |
1.30 |
Bullion & Crude Oil |
Last Price |
CH |
% CH |
% CH 5D |
FTSE 100 |
5478.81 |
11.76 |
0.22 |
0.80 |
Gold |
1622.93 |
-4.17 |
-0.26 |
1.64 |
CAC 40 |
3087.62 |
55.17 |
1.82 |
1.18 |
Silver |
28.60 |
-0.09 |
-0.31 |
0.12 |
DAX |
6229.41 |
90.80 |
1.48 |
1.61 |
NYMEX Crude Oil |
84.81 |
0.78 |
0.93 |
2.55 |
Nikkei 225 |
8720.27 |
150.95 |
1.76 |
1.11 |
ADR/GDR |
Last Price |
CH |
% CH |
% CH 5D |
Hang Seng |
19524.47 |
290.53 |
1.51 |
3.01 |
Infosys |
45 |
0.64 |
1.44 |
3.16 |
Shanghai |
2316.928 |
10.08 |
0.44 |
0.48 |
ICICI B |
30.29 |
0.46 |
1.54 |
0.36 |
CSI 300 |
2581.521 |
13.47 |
0.52 |
0.91 |
Wipro |
8.98 |
0.14 |
1.58 |
0.90 |
KOSPI |
1897.77 |
39.61 |
2.13 |
1.65 |
Sterlite |
7.33 |
0.01 |
0.14 |
0.55 |
Taiwan |
7279.86 |
124.03 |
1.73 |
2.24 |
HDFCB |
30.52 |
0.69 |
2.31 |
0.93 |
Indices Future |
Last Price |
CH |
% CH |
% CH 5D |
Tata Mo |
21.36 |
0.67 |
3.24 |
(1.43) |
||||||
SGX Nifty |
5182 |
45.00 |
0.88 |
2.76 |
Tata Com |
7.6 |
-0.01 |
-0.13 |
(3.18) |
Dow Jones |
12730 |
53.94 |
0.43 |
1.23 |
DR.Reddy |
28.05 |
0.22 |
0.79 |
(3.67) |
Currencies & Freight |
Last Price |
CH |
% CH |
% CH 5D |
MTNL |
0.82 |
0.01 |
1.23 |
0.81 |
||||||
USD-INR X-RATE |
55.50 |
-0.32 |
0.57 |
(0.07) |
Patni |
18.4 |
-0.05 |
-0.27 |
(1.02) |
EUR-INR X-RATE |
70.03 |
-0.16 |
0.23 |
(1.31) |
SBI |
78.5 |
0.50 |
0.64 |
0.64 |
INR-JPY X-RATE |
1.43 |
0.02 |
(1.05) |
(0.63) |
RIL |
26.34 |
0.64 |
2.49 |
1.66 |
BALTIC DRY INDEX |
924 |
12.00 |
1.32 |
5.35918 |
L&T |
23.5 |
0.21 |
0.90 |
0.95 |
SOURCE:BLOOMBERG
ECONOMY:
* Noon: India’s May Consumer Price Inflation.
EQUITY MOVERS:
* Airlines: India’s aviation regulator on June 15 published market share data for May that showed Jet Airways (India) Ltd. and Kingfisher
Airlines Ltd. slipped, while SpiceJet Ltd. gained.
* Fame India Ltd.: An Indian multiplex cinema company approved merging itself and its units with parent Inox Leisure Ltd.
* Future Capital Holdings Ltd.: A unit of Pantaloon Retail India plans to sell its former headquarters in central Mumbai, the Business Standard
reported, citing the company.
* Indian Hotels Co.: The lease on a hotel run by the company under the Taj brand name on New Delhi’s Mansingh Road will expire by the end
of this year. The Sahara group may bid for the property when auctioned by the capital’s civic body.
* Refiners: State-owned Indian Oil Corp. cut jet fuel prices by 3,260 rupees per kiloliter.
* Tata Steel Ltd. : India’s biggest producer of the alloy has offered to buy stakes in associate companies Tinplate Co. of India Ltd. and Tata
Sponge Iron Ltd. It plans to buy as many as 1.73 million shares of Tata Sponge for 375 rupees apiece from shareholders and about 14.7
million shares of Tinplate at 60 rupees.
OTHER NEWS:
* Policy makers will lower the benchmark repurchase rate by 25 basis points to 7.75 percent, according to 19 of 25 economists in a Bloomberg
News survey. Four predicted the central bank will leave the rate unchanged and two forecast a 50 basis point cut. Five of 22 economists
surveyed by Bloomberg predict a 50 basis points cut in cash reserve requirements and one expects a 25 basis points cut, with the rest expecting
no change.
* Finance Minister Pranab Mukherjee said at a conference in Mumbai on June 16 that he was confident the RBI will adjust monetary policy
as needed just as the government was acting on the fiscal side, while declining to comment on today’s decision.
* “I am confident the RBI will adjust the monetary policy as we are adjusting fiscal policy,” he said. “In its policy formulation, the RBI should keep
in mind the state of the economy, widening current-account deficit, slowing growth and fiscal deficit. The RBI is one of the world’s well-reputed
international regulators, and it will take the right decision at the right time,” he said.
* India must take advantage of the drop in crude oil prices, he said, while adding that inflation pressure is still high.
* Investor sentiment toward India is negative and the government can’t dismiss the concerns of rating agencies, he said at the same conference.
A weakening rupee is a matter of concern, while slowing economic growth is the biggest concern, he said.
* Mukherjee, also the ruling Congress party’s key troubleshooter in managing conflicts with its allies, is set to give up his job as finance minister
after the federal coalition announced his name on June 15 as its nominee for the post of the president, the nation’s highest constitutional office.
* Leaders of the Group of 20 nations are gathering in Los Cabos in Mexico for a two-day summit that will be dominated by the financial crisis in Europe.
They will agree to boost the $430 billion firewall the International Monetary Fund announced in April, host President Felipe Calderon told reporters
on June 16.The White House said on June 15 that the crisis is the key risk to the global economy.
* India’s ruling Congress party was routed in a provincial by-election in the southern state of Andhra Pradesh by a breakaway faction.
* Jindal Power Ltd., a unit of India’s biggest steelmaker by market value, plans to spend $7.7 billion on hydroelectric projects over the next
decade as a coal shortage forces utilities to cut dependence on fossil fuels. The generator, which shelved a share sale plan announced in 2009,
will invest 427 billion rupees in the northeastern state of Arunachal Pradesh to install 6,100 megawatts of capacity, Jayant Shrinivas
Kawale, managing director for hydro and renewables, said in an interview in New Delhi.
* Reliance Industries Ltd.’s bonds are rallying from a three- month low after billionaire Chairman Mukesh Ambani pledged to double
operating profit in five years. The yield on the Mumbai- based company’s 5.4 percent dollar notes due February 2022 has dropped 27 basis
points since June 6 to 5.6 percent as Ambani vowed to increase petrochemicals capacity by 66 percent and boost retail revenue by as much as six times.
* India will feel some pressure from the European crisis, Kaushik Basu, chief economic adviser in the finance ministry, said on June 15.
* Foreign-currency assets climbed $1.5 billion to $254.6 billion in the week ended June 8, the central bank said in an e-mailed statement on June 15.
* State Bank of India cut rates on loans to some sectors and will decide on reducing deposit rate after the monetary policy review by RBI on June 18,
Managing Director Krishna Kumar said on June 15.
* India’s annual monsoon rains may advance to Maharashtra state and parts of Gujarat and Madhya Pradesh this week, the weather office
said in a statement June 15.
* Jet Airways (India) Ltd. will pare its Brussels-New York service starting Sept. 10 because of global economic conditions.
* Greece’s two traditional political rivals are in a race to forge an unprecedented coalition as the state’s cash dwindles, bank deposits flee and
Europe demands renewed austerity pledges before releasing more emergency aid.
* French President Francois Hollande’s Socialist Party and its allies won an absolute majority in the National Assembly, exit polls showed,
paving the way for them to pass legislation without the aid of other members of parliament.
* Egyptian authorities began counting votes for Islamist candidate Mohamed Mursi and former President Hosni Mubarak’s last premier
Ahmed Shafik as polls closed for a two-day presidential runoff clouded by the dissolution of parliament and polarization of the electorate.
CONFERENCES/EVENTS:
* 11 a.m. Mumbai. Reserve Bank of India will announce its mid-quarter review of monetary policy 2012-13.
SOURCE:BLOOMBERG
Regards,
Team Microsec Research
MARKETS
Asian Market is trading lower as Hang Seng was down by 0.29% while Nikkei 225 were down by 0.26% and Chinese markets were down by 0.41%. Asian stocks fell, with the regional benchmark index retreating from a one-month high, as Spain’s borrowing costs climbed to a euro-area record and optimism faded that Greece’s election will calm the debt crisis. Overnight U.S. markets were down by 0.20%. Nifty at 8:00AM was trading at 5066 with a gain of 5 points and is likely to trade between 4950 and 5050 levels.
MARKET STATS AT 8:00AM
Domestic Indices |
Last Price |
CH |
% CH |
% CH 5D |
N-Ferrous Metals |
Last Price |
CH |
% CH |
% CH 5D |
Sensex |
16705.83 |
-244.00 |
(1.43) |
0.23 |
Copper |
7535.00 |
25.00 |
0.33 |
1.89 |
Nifty |
5064.25 |
-74.80 |
(1.45) |
(1.01) |
Aluminium |
1932.00 |
3.00 |
0.16 |
(1.83) |
Global Indices |
Last Price |
CH |
% CH |
% CH 5D |
Zinc |
1896.00 |
15.75 |
0.84 |
0.85 |
||||||
Dow Jones |
12741.82 |
-25.35 |
(0.20) |
2.66 |
Nickel |
16774.00 |
124.00 |
0.74 |
(2.33) |
NASDAQ |
2895.33 |
22.53 |
0.78 |
3.05 |
Lead |
1910.00 |
14.50 |
0.76 |
0.76 |
S&P 500 |
1344.78 |
1.94 |
0.14 |
2.74 |
Bullion & Crude Oil |
Last Price |
CH |
% CH |
% CH 5D |
FTSE 100 |
5491.09 |
12.28 |
0.22 |
1.08 |
Gold |
1628.43 |
0.35 |
0.02 |
1.16 |
CAC 40 |
3066.19 |
-21.43 |
(0.69) |
0.77 |
Silver |
28.77 |
0.06 |
0.20 |
(0.71) |
DAX |
6248.2 |
18.79 |
0.30 |
1.74 |
NYMEX Crude Oil |
83.07 |
-0.20 |
-0.24 |
(0.30) |
Nikkei 225 |
8698.6 |
-22.42 |
(0.26) |
1.90 |
ADR/GDR |
Last Price |
CH |
% CH |
% CH 5D |
Hang Seng |
19370.61 |
-57.20 |
(0.29) |
2.64 |
Infosys |
44.52 |
-0.48 |
-1.07 |
3.73 |
Shanghai |
2307.614 |
-8.44 |
(0.36) |
0.78 |
ICICI B |
29.31 |
-0.98 |
-3.24 |
0.86 |
CSI 300 |
2570.748 |
-10.46 |
(0.41) |
1.20 |
Wipro |
8.92 |
-0.06 |
-0.67 |
3.36 |
KOSPI |
1890.04 |
-1.67 |
(0.09) |
1.90 |
Sterlite |
6.99 |
-0.34 |
-4.64 |
(1.69) |
Taiwan |
7259.62 |
-21.88 |
(0.30) |
2.65 |
HDFCB |
30.3 |
-0.22 |
-0.72 |
0.66 |
Indices Future |
Last Price |
CH |
% CH |
% CH 5D |
Tata Mo |
21.56 |
0.20 |
0.94 |
3.16 |
||||||
SGX Nifty |
5066.5 |
5.50 |
0.11 |
(1.09) |
Tata Com |
7.44 |
-0.16 |
-2.11 |
(2.36) |
Dow Jones |
12730 |
53.94 |
0.43 |
2.81 |
DR.Reddy |
27.41 |
-0.64 |
-2.28 |
(3.11) |
Currencies & Freight |
Last Price |
CH |
% CH |
% CH 5D |
MTNL |
0.8078 |
-0.01 |
-1.49 |
3.55 |
||||||
USD-INR X-RATE |
55.92 |
0.42 |
(0.76) |
(0.34) |
Patni |
18.38 |
-0.02 |
-0.11 |
(0.38) |
EUR-INR X-RATE |
70.71 |
0.69 |
(0.97) |
(1.08) |
SBI |
76 |
-2.50 |
-3.18 |
(2.38) |
INR-JPY X-RATE |
1.41 |
0.00 |
0.14 |
1.13 |
RIL |
25.78 |
-0.56 |
-2.13 |
0.12 |
BALTIC DRY INDEX |
938 |
14.00 |
1.52 |
6.1086 |
L&T |
23.18 |
-0.32 |
-1.36 |
1.44 |
Source; BLOOMBERG
ECONOMY:
* Six Indian states will sell 44.5 billion rupees ($794 million) of 10-year debt today, RBI said.
EQUITY MOVERS:
* Eros International Media Ltd.: The distributor of Hindi movies collected 250 million rupees during the opening weekend of the film
‘Ferrari Ki Sawaari,’.
* Glodyne Technoserve Ltd.: Merrill Lynch Capital bought 274,947 shares, or 0.6 percent of the company’s equity.
* Power Grid Corporation of India Ltd.: The nation’s biggest electricity transmission company plans to raise at least 10 billion rupees selling
16-year bonds.
* Saint-Gobain Sekurit India Ltd. :The offer to de- list shares has failed and the company will continue to remain listed.
OTHER NEWS:
* Reserve Bank Governor Duvvuri Subbarao will speak at the annual general meeting of the Indian Merchants’ Chamber. This will be his first address after
leaving interest rates unchanged yesterday.
* Founders of Indian companies have pledged a record proportion of their shares with lenders in return for loans, raising the risk of some owners
ceding control as they struggle to raise funds.
* International investors, who have reduced holdings of India’s bonds in three of the past four months, say they are disappointed policy makers
didn’t follow Brazil in cutting interest rates to revive the economy.
* India’s sovereign credit outlook was lowered to negative from stable by Fitch Ratings, which cited the heightened risk of a deterioration in growth
potential and limited progress on paring the nation’s budget deficit.
* Fitch revised seven Indian state-owned companies’ outlook to negative. The companies are Rural Electrification Corp., Power Finance Corp.,
GAIL India Ltd., Indian Oil Corp., NTPC Ltd., NHPC Ltd. and Steel Authority of India Ltd. Ratings affirmed.
* Indian Prime Minister Manmohan Singh said his government would contribute $10 billion to the International Monetary Fund’s financial firewall to
safeguard the world economy from Europe’s debt crisis.
* Group of 20 leaders focused their response to Europe’s financial crisis on stabilizing the region’s banks, raising pressure on German Chancellor
Angela Merkel to expand rescue measures as contagion engulfed Spain.
CONFERENCES/EVENTS:
* 9:30 a.m. New Delhi. K. Rahman Khan, chairman of FHMI, and Ahmad Mohamed Ali, president of Islamic Development Bank, organize a one-day
conference on Haj Pilgrimage Management in India.
* 10:45 a.m. Mumbai. Keita Muramatsu, president & CEO of Honda Motorcycle & Scooter India Pvt., will hold a press conference to launch Honda’s
first mass motorcycle in India.
* 10:45 a.m. Princy Bhatnagar, vice president, head consumer computing at HCL Infosystems Ltd., will hold a press conference to unveil consumer
computing 2012, a strategic roadmap.
* 11:30 a.m. New Delhi. Sriram Kilambi, president of Bloomberg UTV, and Vikas Gulati, director of Sobo Films, will hold a joint press conference to
announce the mega debate series about India to be showcased on a global platform anchored by Tim Sebastian, founder & host of the Doha Debates.
* 11:30 a.m. Mumbai. Taiwan External Trade Development Council and Bureau of Foreign Trade of Taiwan organize Taiwan Excellence 2012 Campaign
with 31 Taiwan companies to launch their products in India. Emma Yang, director of Taipei World Trade Centre liaison office, will address the media.
* 12 p.m. New Delhi. Suresh Bharwani, CMD of Jetking Infotrain Ltd., will hold a press conference.
* 12:30 p.m. New Delhi. Andy Kalambi, CEO of Dassault Systemes Enovia, will hold a press conference to discuss technology in the automotive sector
and new initiatives planned for India.
* 5 p.m. Mumbai. Tanishq, a retail unit of Titan Industries Ltd., will hold a press conference.
SOURCE:BLOOMBERG
Regards,
Team Microsec Research
MARKETS
Asian Market is trading higher as Hang Seng was up by 0.36% while Nikkei 225 were up by 0.77% and Chinese markets were up by 0.09%. Asian stocks rose to a one-month high and the won strengthened for a sixth day after data showed Japanese imports soared last month and before the Federal Reserve announces whether it will take new steps to boost the economy. The euro pared gains and oil declined. Overnight U.S. markets were up by 0.75%. Nifty at 8:00AM was trading at 5132 with a gain of 11 points and is likely to trade between 5050 and 5140 levels.
Domestic Indices |
Last Price |
CH |
% CH |
% CH 5D |
N-Ferrous Metals |
Last Price |
CH |
% CH |
% CH 5D |
Sensex |
16859.8 |
153.97 |
0.92 |
(0.02) |
Copper |
7570.00 |
-39.00 |
-0.51 |
2.44 |
Nifty |
5103.85 |
39.60 |
0.78 |
(0.34) |
Aluminum |
1926.00 |
0.00 |
0.00 |
(1.93) |
Global Indices |
Last Price |
CH |
% CH |
% CH 5D |
Zinc |
1895.00 |
-4.50 |
-0.24 |
0.69 |
||||||
Dow Jones |
12837.33 |
95.51 |
0.75 |
2.10 |
Nickel |
17028.00 |
-62.00 |
-0.36 |
0.28 |
NASDAQ |
2929.76 |
34.43 |
1.19 |
3.05 |
Lead |
1912.50 |
17.00 |
0.90 |
0.90 |
S&P 500 |
1357.98 |
13.20 |
0.98 |
2.55 |
Bullion & Crude Oil |
Last Price |
CH |
% CH |
% CH 5D |
FTSE 100 |
5586.31 |
95.22 |
1.73 |
2.06 |
Gold |
1620.95 |
2.42 |
0.15 |
0.24 |
CAC 40 |
3117.92 |
51.73 |
1.69 |
2.33 |
Silver |
28.52 |
0.10 |
0.34 |
(1.05) |
DAX |
6363.36 |
115.16 |
1.84 |
3.28 |
NYMEX Crude Oil |
83.90 |
-0.13 |
-0.15 |
1.55 |
Nikkei 225 |
8722.15 |
66.28 |
0.77 |
1.56 |
ADR/GDR |
Last Price |
CH |
% CH |
% CH 5D |
Hang Seng |
19487.52 |
70.85 |
0.36 |
2.42 |
Infosys |
44.25 |
-0.27 |
-0.61 |
0.27 |
Shanghai |
2296.475 |
-4.32 |
(0.19) |
(0.97) |
ICICI B |
30.06 |
0.75 |
2.56 |
(0.99) |
CSI 300 |
2560.887 |
2.27 |
0.09 |
(0.77) |
Wipro |
9.09 |
0.17 |
1.91 |
3.89 |
KOSPI |
1898.76 |
6.99 |
0.37 |
2.12 |
Sterlite |
7 |
0.01 |
0.14 |
(6.79) |
Taiwan |
7290.83 |
17.70 |
0.24 |
2.85 |
HDFCB |
30.83 |
0.53 |
1.75 |
(2.00) |
Indices Future |
Last Price |
CH |
% CH |
% CH 5D |
Tata Mo |
21.85 |
0.29 |
1.35 |
(0.23) |
||||||
SGX Nifty |
5132 |
11.00 |
0.21 |
0.07 |
Tata Com |
7.26 |
-0.18 |
-2.42 |
(7.63) |
Dow Jones |
12743 |
-19.00 |
0.43 |
1.15 |
DR.Reddy |
27.68 |
0.27 |
0.99 |
(2.60) |
Currencies & Freight |
Last Price |
CH |
% CH |
% CH 5D |
MTNL |
0.805 |
0.00 |
-0.35 |
(0.01) |
||||||
USD-INR X-RATE |
55.97 |
0.05 |
(0.09) |
(0.27) |
Patni |
18.39 |
0.01 |
0.05 |
1.43 |
EUR-INR X-RATE |
70.61 |
-0.11 |
0.15 |
(1.13) |
SBI |
76.3 |
0.30 |
0.39 |
(3.42) |
INR-JPY X-RATE |
1.41 |
0.00 |
0.07 |
1.28 |
RIL |
26.34 |
0.56 |
2.17 |
2.61 |
BALTIC DRY INDEX |
954 |
16.00 |
1.71 |
6.83091 |
L&T |
23.95 |
0.77 |
3.32 |
2.09 |
SOURCE:BLOOMBERG
EQUITY MOVERS:
* Carborundum Universal Ltd.: The refractory maker will buy RHI AG’s South African subsidiary, Carborundum said in a statement.
The deal will include RHI’s Isithebe facility that can deliver 30,000 tons of fused minerals annually
* Cement Makers: The Competition Commission of India has found cement companies guilty of cartelization. The antitrust body
may impose a penalty of 8 percent of average turnover of 3 years on the top 10 cement companies by revenue, the report said.
* Moser Baer India Ltd.: The company will increase its authorized capital to 12.5 billion rupees from 3 billion rupees. The company
will also raise $175 million by way of foreign currency convertible bonds, global depository receipts, qualified institutions placement or
a combination of the three, the statement said. The company will seek shareholders’ consent by way of a postal ballot.
OTHER NEWS:
* The Reserve Bank of India intervened in the foreign exchange market to curb rupee volatility, Subbarao said. He said the
intervention is in line with RBI’s policy and the central bank will continue with the current foreign exchange policy.
* Uttam Galva Steels Ltd., the Indian unit of ArcelorMittal, is targeting a 20 percent increase in profit over the next two years as demand
at home bucks a global slump sparked by Europe’s debt crisis.
* Indian central bank Governor Duvvuri Subbarao has blamed state spending on subsidies for crowding out investment just as the
slowing economy drives the biggest increase in bond risk among the largest emerging markets.
* India’s April-May steel consumption rose 8.1 percent to 11.8 million tons. Exports fell 29.7 percent to 542,000 tons while imports surged
33.6 percent to 1.21 million tons, according to data from the steel ministry. Steel output gained 4.4 percent to 12.3 million tons.
* The Government of India will buy 120 billion rupees of bonds via open market operation on June 22, the Reserve Bank of India said.
* Honda Motor Co. expects to more than double India’s share in its global two-wheeler sales as the company adds small-engined motorcycles
and opens outlets to widen reach in villages and towns.
* U.S. Treasury Secretary Timothy F. Geithner has postponed next week’s scheduled visit to India “in light of Indian Finance Minister
Pranab Mukherjee’s candidacy for president of India and his expected resignation as finance minister,” the Treasury Department said.
The visit, part of the U.S.-India Economic and Financial Partnership, had been scheduled for June 27-28.
* World leaders told Europe to pull together to overcome its debt crisis, endorsing a road map for tighter integration to cut borrowing
costs and prevent further damage to the global economy.
BOND SALES:
* 3 p.m. India to sell 90 billion rupees of 91-day bills.
* 3 p.m. India to sell 50 billion rupees of 182-day bills.
CONFERENCES/EVENTS:
* 11:30 a.m. New Delhi. Gulshan Batra and Sandeep Wason, directors of Enigma Auto, will hold a press conference to launch three new
models of e-bike.
* 11:30 a.m. Hyderabad. Makoto Yoshii, deputy director of Honda Motorcycle & Scooter India Pvt., will hold a press conference to
launch Honda’s mass motorcycle in India.
* 12 p.m. Bangalore. Amit Chatterjee, director-software solutions of Hewlett-Packard India, will hold a press conference.
SOURCE:BLOOMBERG
Regards,
Team Microsec Research