India Research
January 11, 2012
Dealers Diary
Indian markets are expected to open in green taking cues from positive opening in most of the Asian markets today and firm closing in most of the global markets on Tuesday. The Indian markets ended higher yesterday on the back of positive global cues and renewed hopes of a CRR cut later this month. A decision by global ratings agency Moody's to upgrade India's rating to investment grade and reports showing an impressive 56% rise in FDI inflows in November helped revive appetite for riskier assets. Globally, most of the US and European markets closed in green yesterday as a weaker US currency helped drive up the price of oil, other dollar-denominated commodities and resource stocks. Also, an announcement by the rating agency Fitch that a downgrade of the creditworthiness of France from the top credit rating of "AAA" within a year is not expected provided a boost to the market. The markets this week will be closely watching out from IIP numbers and Infosys results which will be released on January 12, 2012.
Domestic Indices BSE Sensex Nifty MID CAP SMALL CAP BSE HC BSE PSU BANKEX AUTO METAL OIL & GAS BSE IT Global Indices Dow Jones NASDAQ FTSE Nikkei Hang Seng Straits Times Shanghai Com
Chg (%) 2.2 2.3 2.2 2.6 1.0 1.7 3.2 2.9 3.0 2.7 0.6 Chg (%) 0.6 1.0 1.5 0.4 0.7 1.1 2.7
(Pts) 106.8 119.7 154.0 60.6 116.5 236.5 208.9 34.7 (Pts) 69.8 25.9 84.4 31.9 28.6 59.9
(Close) 4,850 5,451 5,996 6,095 6,907 8,371 7,835 5,916 (Close) 12,463 2,703 5,697 8,422 2,720 2,286
350.4 16,165
Markets Today
The trend deciding level for the day is 16,081/4,825 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16,26516,364/4,881 4,912 levels. However, if NIFTY trades below 16,081/4,825 levels for the first half-an-hour of trade then it may correct up to 15,98215,799/4,7934,737 levels.
Indices SENSEX NIFTY S2
15,799 4,737
138.6 19,004
S1
15,982 4,793
R1
16,081 4,825
R2
16,265 4,881
News Analysis
FDI equity inflows up 56% in November 2011 after two slack months KPIT Cummins Infotainment platform achieves GENIVI compliance
Refer detailed news analysis on the following page
Sales
1,777 220
Net
12 33
MTD
1,130 (122)
YTD
1,130 (122)
Volumes (` cr)
Sales
1,692 1,815
Net
1,054 93
Open Interest
11,444 25,736
BSE NSE
2,555 11,011
Gainers / Losers
Gainers Company
IRB Infra JSW Steel Sintex Inds India Infoline IVRCL Ltd
Losers Company
Gujarat Fluo Coromandel Intl Hindustan Copp Cadila Health Dish TV India
Price (`)
141 629 69 50 36
chg (%)
10.2 10.0 9.7 9.5 9.1
Price (`)
391 280 304 685 58
chg (%)
(2.0) (1.9) (1.4) (1.4) (1.1)
FDI equity inflows up 56% in November 2011 after two slack months
Indicating a positive investor sentiment amidst the ongoing macroeconomic concerns, FDI equity inflows into India increased by 56% to US$2.53bn in November 2011. According to officials, cumulative flows for the April-November period stood at US$22.83bn vs. US$19.43bn for FY2011. FDI equity inflows for the past two months were sluggish, with September and October reporting a 16.5% yoy and 50% yoy decline in inflows, respectively. During FY2011, equity in India witnessed a sharp 25% dip in FDI, from US$25.6bn in FY2010 to US$19.43bn. Telecom, IT, construction, power, housing and real estate are the major sectors attracting FDI, and Mauritius, Singapore, U.S., U.K., Netherlands, Japan, Germany and UAE are the major sources of FDI in India. We believe the pick-up in FDI inflows will have a positive impact on INR in the foreign exchange market.
Net profit
1,037
891
16
971
Corporate News
MTNL to float `200 cr tender for network expansion PSL Ltd wins Rs 280-cr order from Pratibha Ind TVS to introduce three products in 2012 Wockhardt launches generic nasal spray for Rhinitis
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
Results Calendar
12/01/2012 13/01/2012 16/01/2012 17/01/2012 18/01/2012 Infosys, HDFC Sintex South Indian Bank TCS, HCL Technologies MindTree, Infotech Enterprises
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