Market Diary 31 May, 2006

[MOTILAL OSWAL KURIACHIRA]

Dear Investor, 

MOST DAILY – TUESDAY, 30 MAY 2006 :

After being in the positive territory for most part of the session and exhibiting high volatility, the indices finally ended in red. The BSE Sensex closed 66 points lower at 10,787 (down 0.6%). Nifty lost 43 points closing at 3,171 (down 1.3%).

Hero Honda closed 5% lower to Rs.802. Bombay Dyeing declared its results today reporting a fall in total income. The stock lost 2% ending at Rs.739.

Tata Power assigned capex for its expansion plans and declared results for FY06. The stock rose 2% to Rs.517. NIIT Technologies has tied up with Sun Microsystems to introduce specialized training and education program. The stock surged 4% to Rs.197.

RIL won an oil exploration block in East Timor. The stock ended flat at Rs.955. L&T won a contract from IOC in JV with Japanese Toyo Engineering involving project management. The stock ended flat at Rs.2451.

OUTLOOK

: The nervousness of the participants is indicated from the selling pressure the indices are facing at higher levels. Until the participants overcome this nervousness, we expect the volatility to continue at higher levels.

Corporate News

29 May, 2006

Madras Cement to spend Rs6.13bn to build new plant

KEC International formed a Joint venture with U.S.- based Power Engineers Inc. to expand into North America.

Citi Group stake in Opto Circuits raises to 7.12%

NTPC said it may almost double the capacity of its Barh project.

M&M Q4 net profit at Rs3.21bn (up 110%) and, sales at Rs22.89bn (up 20%) and dividend at Rs10 per share

Opto Circuits India Ltd has informed BSE that Eurocor GmbH the Company's wholly owned subsidiary has received the CE Mark Approval of its Amadeus Supercross coronary dilation catheters used in vascular coronary perfusion and also for their new range of PTCA guide wires branded E-WIRE for interventional use.

Jindal Stainless plans to buy 50,000 metric ton-ayear plant in Europe to expand in a region where usage of the alloy is expected to more than double.

Television Eighteen, which runs the CNBC-TV18 news channel, said it will group together its Internet businesses into a unit, which has been permitted to raise funds from strategic or financial investors.

Results -

Hero Honda, Bombay Dyeing, LML, Ansal Properties, EIH Associates, Tata Chemical and Rajesh Exports

Derivatives

The top twenty contracts contributed to around 44% of the total traded volume in Options on individual securities. Tata Steel was the most active option contracts on individual securities traded today with 1296 contracts and Reliance was the next most active options contracts with 1042 contracts being traded.

Commodity

LME market remained closed today on account of international holiday

Global Market:

Asian market witnessed mixed trend. Nikkei slipped marginally by 0.3% to close at 15916. Hang Sang and Kospi Index gained by 0.6% and 0.5% respectively against previous days closing. European stocks are witnessing profit booking. CAC and DAX Index have lost marginally.

Institutional activities

26-May : Rs(cr)

FIIs (Cash) : -252.70              FIIs(F&O) : 751.00              MFs : 222.79

 

Thank you.

 

Happy Investing!

 

Sincerely yours,

Vijo Joy Kuriakose P
Branch In Charge
MOTILAL OSWAL SECURITIES LTD
1st Floor, Flamon Complex
Kuriachira, Thrissur-680006
Ph: 0487-5523675,
Mob: 9895977410
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