Saturday, November 24, 2007

Top Five Gainer's

CompanyPrice (Rs)% Change
+ Jindal St & Pwr 12,096.00+20.70
+ Neyveli Lignite 214.30+18.30
+ Escorts Ltd. 148.15+8.42
+ Welspun Gujarat 399.30+7.70
+ IndusInd Bank 102.45+7.62


Top Five Loser's

+ Guj. Mineral Dev 484.75 -5.00
+ National Fertili 78.85 -4.94
+ Hind. Zinc 685.15 -4.26
+ Federal Bank 337.15 -4.15
+ Punj. NationlBak 582.50 -3.81

Friday, November 23, 2007

The market saw a strong bull punch and recovered very smartly today. The Sensex closed at 18852, up 326 points while Nifty closed at 5608, up 89 points from the previous close. The BSE Midcaps and BSE Smallcaps Index both closed in the positive, up nearly 1.2%. The market breadth was positive with advances at 835 against declines of 354 on the NSE. The Nifty gainers included Reliance Industries, Sterlite, NTPC, HDFC and Unitech while losers included Hindustan Petroleum, HDFC Bank, Maruti, GAIL and ONGC.

The market saw high drama this week: choppiness, a fall and then a recovery. Though global cues tried to dampen spirits on Dalal Street the market showed great resilience. The weekly figures are: Sensex down 4.3%, Nifty down 5%, BSE Midcaps down 3.3%, BSE Smallcaps down 2%, BSE Realty down 7.5%, BSE Bankex, BSE Metals and BSE FMCG all down 5%, BSE Capital Goods down 6.5%, BSE IT down 3% and BSE Oil&Gas down 4%.
The market is expected to move upwards and stocks to add at lower levels are BHEL and RPL, says Sandeep Nanda of Sharekhan, on NDTV Profit.

The rally will sustain and correction seems to be behind us, says Shahina Mukadam of IDBI Capital Markets, on CNBC Awaaz. The market may see more upside next week, she adds. The stocks with 1-2 year prospects are Tata Motors, Maruti and M&M.
The market fundamentals remain intact and any correction should be used as an opportunity to accumulate sound stocks, says Vijai Mantri, CEO of Deutsche AMC on NDTV Profit. Deutsche AMC is bullish on domestic goods, infrastructure, power, midcaps and smallcaps space

The European market opened in the positive. The Japanese markets were closed while Asian markets saw a mixed session. Power and metal stocks have been driving the Indian market up. The Sensex is currently trading at 18802, up 276 points while Nifty is at 5591, up 72 points from the previous close. The market breadth is positive with advances at 823 against declines of 357 on the NSE.


The market is expected to move upwards and stocks to add at lower levels are BHEL and RPL, says Sandeep Nanda of Sharekhan, on NDTV Profit

Market's looking strong will move up further

The market is holding on to its gains. The Sensex is up 172 points from the previous close at 18,698. Nifty is at 5571, up 51 points. The BSE Midcap and Smallcap indices are up 1.6% and 1.4% respectively. Capital goods, metal and realty stocks are attracting maximum interest. Market breadth is strong, with 864 advances against 250 declines on the NSE.

Sensex between 18,000 and 20,000 is fairly valued, says Raamdeo Agarwal of motilal Oswal Securities, on NDTV Profit. But comfort level would have been higher if the Sensex touched 20,000 by FY09, he adds. The midcap rally has been mostly speculative so far, he says. The brokerage is buying into banking and cement stocks, he says.
Buy Punj Llyod CMP Rs 469 Target Rs 1000.

Punj Lloyd can almost double from the current levels and go up to Rs 1,000, says Amitabh Chakravarty of Religare Securities, on NDTV profit. The stock is currently trading at Rs 469, up 1.2% on the BSE.
If 18,300 is broken on the Sensex, then there can be another 5-7% further correction in the next 2-3 weeks, says Gautam Shah of JM Financial Services, on CNBC-TV18.

Below 18,300, the next logical support seems to be at 17,300, he says. Failure to make new highs after a bounceback is a negative sign, he says. He suggests selling on rallies closer to 5600-5700 on the Nifty. Wait for 5500 to be broken to add to your positions
The market has opened on the higher side Friday. The Sensex is currently at 18,798, up 272 points from the previous close. Nifty is at 5598, up 79 points. Market breadth is positive.

A flat-to-slightly higher opening is expected for the market today, says an NDTV Profit Poll. Nifty is immediately expected to move to 5575, 5625. The market may witness a higher level of profit booking in the second half of the trading session. Stocks to watch for the day are ABB,Siemens and Orchid Chemicals.

Siemens is a hold at current levels, says Shahina Mukadam of IDBI Capital, on CNBC-TV18. The company can do an EPS of Rs 60-65 next year, and from that perspective, the stock looks very attractive at current levels, she says.

Thursday, November 22, 2007

Buy Shiv-vani for CMP Rs 433 Target Rs 650

Huge order inflow for Shiv-Vani on the back of a surge in E&P capex
At the end of 2006, India’s crude oil reserves stood at 5.7bn barrels according to
BP Statistical Review 2007. That amounts to only 0.5% of global reserves. At the
current rate of production, the country’s crude oil reserves would last for only 19.5
years, as against 40 years for global reserves. With more than 80% of India’s
sedimentary basin still under -explored, huge potential remains untapped. Over the
last seven years, through six rounds of National Exploration Licensing Programme
(NELP), the Government of India has attracted investments of US$12bn for exploration
activities in the country. The surge in E&P capex will result in huge order flow for Shiv
Vani Oil and Gas Exploration Services Ltd (SVL), one of the leading players in onshore
seismic surveys. SVL’s current order book is Rs3.4bn and the company has applied for a
further Rs4bn worth of orders.

Commitments made in first six NELP rounds yet to be completed, NELP VII
due in December 2007
So far, only 22% of the on-land acreage under the first six rounds of NELP has been
awarded under licensing, as compared to 64% for deepwater and 75% for shallow
water. Round VII of NELP is due in December 2007 and it is likely that 29 of 57 blocks
on offer will be on-land blocks. Thus, the impetus on on-land exploration should rise in
future years. This would directly benefit SVL, which is primarily an on-shore player.

CBM turnkey projects: a new source of revenue
SVL has a contract in hand to develop coal-bed methane (CBM) fields with ONGC.
It has also secured a work-over contract for Reliance Industries’ CBM field. The
company is the first to provide such services in the country. CBM is fast emerging
as a major source of gas for gas-starved India. Three rounds of bidding for CBM
blocks are through and 26 blocks have been offered. With its expertise in such
projects, we believe SVL can get more contracts in the future, adding to revenue
growth. The ONGC contract is worth Rs7.5bn and is to be executed in 24 months.

Attractive valuations: Recommend a BUY with an upside of 52.8%
At CMP of Rs424, the stock trades at P/E multiple of 9.2x and 7.2x on estimated
earnings of Rs46.3 and Rs58.5 for FY09 and FY10 respectively. Given the expected
robust build-up in SVL’s order book and a rise in operating margins to 39%, we
recommend a BUY with a target price of Rs648, implying an upside of 52.8%.
Top Five Gainer's

CompanyPrice (Rs)% Change
+ D-Link India Ltd. 99.65+14.80
+ Punj. NationlBak 605.55+9.44
+ EIH Ltd. 143.80+8.16
+ Reliance Capital 2,324.50+7.20
+ Balaji Telefilms Ltd 344.70+7.08

Top Five Loser's

+ Ispat Industries 38.65 -7.98
+ Corporation Bank 407.30 -7.93
+ Jindal Saw 745.65 -5.79
+ Great Eastern 445.70 -5.71
+ Rashtriya Chem&Fert. 65.45 -5.35
The market was highly choppy today registering a steep fall and then a smart recovery to close in the positive. The Sensex closed at 18526, down 76 points while Nifty at 5519, down 41 points from the previous close. The BSE Midcaps and Smallcaps Index, both closed in the negative down nearly 2%. Of the sectoral indices, most closed in the negative while BSE Bankex was up 1.8% and BSE Auto Index was up 0.7%. The market breadth was negative with advances at 251 against declines of 946 on the NSE. The Nifty gainers included ICICI Bank, ACC, RPL and Bajaj Auto while losers included Unitech, Sterlite, Suzlon and NTPC.

Siemens board approves 1:1 bonus issue, reports NDTV Profit. Siemems posts Q4 PAT at Rs 309 crore vs Rs 137 crore and sales at Rs 2190 crore vs Rs 1490 crore. The stock is currently trading at Rs 1956, up 0.7% on the BSE.
The market recovers over 400 points from the day's low. The Sensex is currently trading at 18606, up 4 points while Nifty is at 5540, down 20 points from the previous close. The market breadth is negative with advances at 269 against declines of 927 on the NSE.

FIIs are bullish on the banking sector, states Merrill Lynch on NDTV Profit. Their picks are SBI, ICICI Bank, HDFC Bank, Axis Bank, IDFC and Reliance Industries. FIIs are reducing their positions in telecom stocks like Reliance Communications and Bharti Airtel.
The market continues to fall. Sensex is at 18,367, down 234 points form the previous close. Nifty has fallen below 5500 to 5483, down 77 points. Market breadth is weak, with 202 advances against 870 declines on the NSE. Biggest Nifty losers include REL, Sterlite Industries, Tata Power and Unitech.

Buying at current levels can be done in capital goods, banking, metals, power and power utility spaces now, says Gaurang Shah of Geojit Financial Services, on Zee Business. But keep a slightly longer term perspective, he adds.
The market opened slightly higher, but has slipped into the negative terrain within minutes. The Sensex is currently trading at 18,556, down 46 points from the previous close. Nifty is 5529, down 31 points.

There are no fundamental problems with this market, only technical; profit booking is taking place, says Deven Choksey of KR Choksey Securities, on Zee Business. So the consolidation phase should be over in a couple of days now, he says. If the Sensex takes support at 18,319, then recovery may happen in 1-2 days, he adds.

Sensex has crucial support at 18,275, says CLSA's technical analyst Laurence Balanco, on CNBC-TV18. And the BSE 30-share index can go to 17,200 if 18,275 is broken


Wednesday, November 21, 2007

Top Five Gainer's

CompanyPrice (Rs)% Change
+ Polaris Software 115.10+4.83
+ Indian Petrochem 483.10+1.74
+ Asahi India Glass 101.70+1.65
+ Wockhardt Ltd. 409.65+.95
+ Hero Honda Motor 708.85+.50

Top Five Loser's

+ Chambal Fertilis 64.40 -13.90
+ Escorts Ltd. 142.95 -11.60
+ Dena Bank 76.45 -11.52
+ Neyveli Lignite 185.60 -10.92
+ GNFC 174.85 -10.10
Be cautious in such a market and avoid midcap counters purely on tips, says Sajeev Dhawan, technical analyst, on CNBC-TV18. It is best to accumulate fundamentally good stocks on dips, he adds.

It was a bad day on the market today. The bears did a thorough job of cleaning up and the bulls got hammered. The Sensex closed at 18602, down 678 points and Nifty closed at 5561, down 219 points from the previous close. All the sectorial indices closed in the negative. The BSE Midcaps Index got smashed and was down by 4.5% while BSE Smallcaps Index was down 3.5%. The BSE Realty Index was down 5%, BSE Oil & Gas Index down 3.8%, BSE Capital Goods Index and BSE Bankex Index were both down by 5.8%. The market breadth was bad with advances at 131 against declines of 1070 on the NSE.

The fall may be a good opportunity to buy stocks like MRPL and Neyveli Lignite that have good long-term perspectives, says Anil Maghnani, technical analyst, on CNBC-TV18. MRPL is trading at Rs 107, down 9% and Neyveli Lignite is trading at Rs 177, down 15% on the BSE.
It was an extremely weak session for equity markets across the globe. Joining the bandwagon were the Indian markets which closed near the lowest point of the day. There was no outperformance by Indian markets and the fall was inline with rest of the Asia. It was the fourth largest single day point fall for Sensex.

The European markets have opened in red CAC was down 1.7%, FTSE down 1.6% and DAX down 1.4%.

Even the midcaps and smallcaps took it on their chin today. It was large scale equity sell off across markets and sectors.

The worst hit index is bankex which has seen a sharp run up in the past few sessions followed by metal, capital goods and power. The sector that is least hit is the IT index on hopes that rupee may not appreciate further against the dollar. The rupee was trading weak at 39.385 against the dollar.

The breadth was extremely negative with eight declines for every one advance.

ICICI Bank, HDFC Bank, Maruti, NTPC, L&T, Hindalco, BHEL, GAIL, HPCL, Tata Power were among the top fronline laggards.

Midcap momentum stocks saw good correction for instance Chambal Fetilisers, Triveni Eng and Essar Oil and Gujarat Narmada, WWIL, Nirma.

Crude saw an all time high of USD 99.20 and is currently USD 98.93 eyeing the USD 100 mark.

On the primary market front, Religare Enterprises got listed on the bourses today at Rs 324 versus its issue price of Rs 185.

Sensex was down 678.18 points or 3.52% at 18602.62, and the Nifty down 219.85 points or 3.80% at 5561.05.

About 767 shares have advanced, 2262 shares declined, and 38 shares are unchanged.

The BSE Midcap Index ended at 8,217.84 down 4.7%.

The BSE Smallcap Index ended at 10,265.23 down 4%.

The BSE Bankex was down 5% at 10,227.71. IOB, Bank of Baroda, Canara Bank, PNB, Axis Bank, ICICI Bank moved downwards.

The BSE Capital Goods Index was down 5% at 19,302.78. Triveni Engg, Alstom Projects, Jyoti Structure, Lakshmi Machine, Suzlon Energy closed lower.

The BSE Auto Index closed at 5,170.85 down 3%. Escorts, TVS Motor, Hind Motors, Exide Industrie, Ashok Leyland closed lower.

The BSE Metal Index closed at 16,253.59 down 6%. Jindal Steel, Mah Seamless, Hindalco, Sterlite Ind closed lower.

The BSE FMCG Index closed at 2,103.82 down 4%. ITC, Dabur India, United Spirits, Godrej Consumer closed lower.

BSE Oil and Gas Index closed at 11,730.99 down 3%. Reliance Natura, IOC, HPCL, Petronet LNG, Essar Oil ended in red.

The BSE IT Index was down 1.7% at 3,987.66. Financial Tech, Tech Mahindra, I-Flex Solution, Wipro, Mphasis closed lower.

The NSE cash turnover was at Rs 18726.96 crore and the NSE F&O turnover was at Rs 70758.86 crore. The BSE cash turnover was Rs 7925.67 crore. Total market wide turnover was at Rs 97411.49 crore.

Markets on a freefall: Sensex down over 700 pts

The freefall for markets continues and the Sensex is down over 750 points and the Nifty is down nearly 250 points. Selling pressure is seen in scrips across sectors.The fall comes inline with rest of the Asia. The European markets have opened in red CAC down 1.7%, FTSE down 1.6% and DAX down 1.4%.

Even the midcaps and smallcaps have taken it on their chin today. It is large scale equity sell off across markets and sectors.

Sensex is down nearly 750 points and Nifty has also seen a sharp triple point correction.

Broader markets are down with BSE midcap index is down over 3.6% and the smallcap index is down 2.8%

The worst hit index is bankex which has seen a sharp run up in the past few sessions followed by metal, capital goods and power. The sector that is least hit is the IT index on hopes that rupee may not appreciate further against the dollar. The rupee was trading weak at 39.385 against the dollar.

The breadth is extremely negative with three declines for every one advance.

HPCL down 6%, ICICI Bank & Suzlon are down over 5%, ABB and VSNL down 4%, Maruti and NTPC are down over 3%.

ICICI Bank, HDFC Bank, Maruti, NTPC, L&T, Hindalco, BHEL, GAIL, HPCL, Tata Power were among the top fronline laggards.

Midcap momentum stocks have seen good correction for instance Chambal Fetilisers is down 10%, Triveni Eng and Essar Oil is down 8% and Gujarat Narmada is down 6%, WWIL is down 7%, Nirma down 6.5%.

IT stocks like TCS and infosys are trading in green along with Reliance Petro and two wheeler major Hero Honda.

Crude saw an all time high of USD 99.20 and is currently USD 98.93 eyeing the USD 100 mark.

Religare Enterprises, Reliance Inds and Reliance Petroleum were among active counters on the NSE.

On the primary market front, Religare Enterprises got listed on the bourses today at Rs 324 versus its issue price of Rs 185. Its trading strong at Rs 568 after slipping from its intra day high of Rs 600. It is one of the most active counters today.

Markets plunge: Sensex, Nifty down nearly 3%

The cut has become sharper in the markets as the Sensex is down nearly 550 points and Nifty is down over 170 points. Selling pressure is seen in scrips across sectors.The fall comes inline with rest of the Asia. The Eurppean markets have opened in red CAC down 1.7%, FTSE down 1.6% and DAX down 1.4%.

Even the midcaps and smallcaps have taken it on their chin today. It is large scale equity sell off across markets and sectors.

Sensex is down nearly 550 points and Nifty has also seen a sharp triple point correction.

At 14.20 hrs IST, the Sensex is down 530.61 points or 2.75% at 18750.19, and the Nifty down 173.75 points or 3.01% at 5607.15.

About 953 shares have advanced, 2056 shares declined, and 58 shares are unchanged.

Broader markets are down with BSE midcap index is down over 3.6% and the smallcap index is down 2.8%

The worst hit index is bankex which has seen a sharp run up in the past few sessions followed by metal, capital goods and power. The sector that is least hit is the IT index on hopes that rupee may not appreciate further against the dollar. The rupee was trading weak at 39.385 against the dollar.

The breadth is extremely negative with three declines for every one advance.

HPCL down 6%, ICICI Bank & Suzlon are down over 5%, ABB and VSNL down 4%, Maruti and NTPC are down over 3%.

ICICI Bank, HDFC Bank, Maruti, NTPC, L&T, Hindalco, BHEL, GAIL, HPCL, Tata Power were among the top fronline laggards.

Midcap momentum stocks have seen good correction for instance Chambal Fetilisers is down 10%, Triveni Eng and Essar Oil is down 8% and Gujarat Narmada is down 6%, WWIL is down 7%, Nirma down 6.5%.

IT stocks like TCS and infosys are trading in green along with Reliance Petro and two wheeler major Hero Honda.

Crude saw an all time high of USD 99.20 and is currently USD 98.93 eyeing the USD 100 mark.

Religare Enterprises, Reliance Inds and Reliance Petroleum were among active counters on the NSE.

On the primary market front, Religare Enterprises got listed on the bourses today at Rs 324 versus its issue price of Rs 185. Its trading strong at Rs 568 after slipping from its intra day high of Rs 600. It is one of the most active counters today.

Markets in deep red: Bank, cap goods, power stks down

The markets continue to trade in deep red without any signs of recovery on account of selling presuure in scrips across sectors.The fall comes inline with rest of the Asia. The Eurppean markets have opened in red CAC down 1.7%, FTSE down 1.6% and DAX down 1.4%.

Even the midcaps and smallcaps have taken it on their chin today. It is large scale equity sell off across markets and sectors.

Sensex is down nearly 450 points and Nifty has also seen a sharp triple point correction.

At 1.31 hrs IST, the Sensex is down 456.51 points or 2.37% at 18824.29, and the Nifty down 131.20 points or 2.27% at 5649.70.

About 994 shares have advanced, 2013 shares declined, and 60 shares are unchanged.

About 1083 shares have advanced, 1916 shares declined, and 68 shares are unchanged.

Broader markets are down with BSE midcap index is down over 2% and the smallcap index is down 1.3%

The worst hit index is bankex which has seen a sharp run up in the past few sessions followed by metal, capital goods and power. The sector that is least hit is the IT index on hopes that rupee may not appreciate further against the dollar. The rupee was trading weak at 39.385 against the dollar.

The breadth is extremely negative with three declines for every one advance.

HPCL down 6%, ICICI Bank & Suzlon are down over 5%, ABB and VSNL down 4%, Maruti and NTPC are down over 3%.

ICICI Bank, HDFC Bank, Maruti, NTPC, L&T, Hindalco, BHEL, GAIL, HPCL, Tata Power were among the top fronline laggards.

Midcap momentum stocks have seen good correction for instance Chambal Fetilisers is down 10%, Triveni Eng and Essar Oil is down 8% and Gujarat Narmada is down 6%, WWIL is down 7%, Nirma down 6.5%.

IT stocks like TCS and infosys are trading in green along with Reliance Petro and two wheeler major Hero Honda.

Crude saw an all time high of USD 99.20 and is currently USD 98.93 eyeing the USD 100 mark.

Religare Enterprises, Reliance Inds and Reliance Petroleum were among active counters on the NSE.

On the primary market front, Religare Enterprises got listed on the bourses today at Rs 324 versus its issue price of Rs 185. Its trading strong at Rs 568 after slipping from its intra day high of Rs 600. It is one of the most active counters today.

Markets trade weak: ICICI Bk, Maruti, NTPC down

The markets are building further on their losses as they have slipped deeper in the red. The fall comes inline with rest of the Asia. Even the midcaps and smallcaps have taken it on their chin today. It is large scale equity sell off across markets and sectors.

Sensex is down over 300 points and Nifty has also seen a sharp triple point correction.

At 12.20 hrs IST, the Sensex was down 342.17 points or 1.77% at 18938.63, and the Nifty down 97.35 points or 1.68% at 5683.55.

About 1013 shares have advanced, 1988 shares declined, and 66 shares are unchanged.

Broader markets are down with BSE midcap index is down over 2% and the smallcap index is down 1.3%

The worst hit index is bankex which has seen a sharp run up in the past few sessions followed by metal, capital goods and power. The sector that is least hit is the IT index on hopes that rupee may not appreciate further against the dollar. The rupee was trading weak at 39.385 against the dollar.

The breadth is extremely negative with four declines for every one advance.

ICICI Bank, HDFC Bank, Maruti, NTPC, L&T, Hindalco, BHEL, GAIL, HPCL, Tata Power were among the top fronline laggards.

Midcap momentum stocks have seen good correction for instance Chambal Fetilisers is down 10%, Essar Oil is down 8% and Gujarat Narmada is down 6%, WWIL is down 7%, Nirma down 6.5%.

Crude saw an all time high of USD 99.20 and is currently USD 98.93 eyeing the USD 100 mark.

Religare Enterprises, Reliance Inds and Reliance Petroleum were among active counters on the NSE.

On the primary market front, Religare Enterprises got listed on the bourses today at Rs 324 versus its issue price of Rs 185. Its trading strong at Rs 568 after slipping from its intra day high of Rs 600. It is one of the most active counters today.

Mkt slips further; bank, cap goods, power stocks down

The markets are still trading weak on acount of heavy selling seen in the early trade. Banking, capital goods, auto, power and oil & gas stocks were trading low, however realty and FMCG stocks were in green.

Midcaps and smallcaps continue to outperform the frontliners. Market breadth on NSE was very thin with over 560 stocks on the advancing side and nearly 540 stocks on the downside. Rupee has weakened little bit and was quoting at 39.37 against USD.

At 11 am, the Sensex is down 283.63 points or 1.47% at 18997.17, and the Nifty down 103.70 points or 1.79% at 5677.20. About 1309 shares have advanced, 1692 shares declined, and 66 shares are unchanged.

Religare Enterprises got listed on the bourses today at Rs 324 versus its issue price of Rs 185. Its trading strong at Rs 568 after slipping from its intra day high of Rs 600. Over 55 lakh shares were already traded on the NSE, making its one of the most active counters today.

Top gainers on the Nifty are ITC at Rs 201.10 up 2.26%, Tata Steel at Rs 876.40 up 1.99% and Suzlon Energy at Rs 2,056.15 up 0.99%.

Top losers on the Nifty are HDFC Bank at Rs 1,583 down 2.9%, Sun Pharma at Rs 1,074.05 down 2.38% and Wipro at Rs 440 down 1.85%.

Religare Enterprises, Reliance Inds and Reliance Petroleum were few most active counters on the NSE.

In the IT space, Wipro, Satyam and Patni were trading weak with over 1.5% cut. HDFC Bank at Rs 1575 down 3.47%, Bank of baroda at Rs 373 down 2.84 and Allahabad bank at Rs 111.30 down 2.07% were the top losers in the banking sector.

Mkts open weak in line with its Asian peers

The markets opened with gap down today on the back of weak cues from the Asian markets. There was heavy selling witnessed across the sectors in the early trade. Religare got listed on the bourses today at Rs 324 versus its issue price of Rs 185.

At 9:56 am, Sensex was down 83 points at 19197 and Nifty was down 26 points at 5754. Major losers in the early trade were ACC, SAIL, NTPC, L&T, Hindalco, Tata Steel, Suzlon, Bharti Airtel, Reliance, Bajaj Auto, Tata Motors, Infosys and SBI.

Asian markets fell today. Hong Kong's Hang Seng tumbled 2.58% or 717.15 points at 27,054.06, Japan's Nikkei fell 1.29% or 196.09 points at 15,015.43, Singapore's Straits Times slipped 1.29% or 44.52 points at 3,393.75, Taiwan's Taiwan Weighted dropped 0.38% or 33.25 points at 8,647.61 and South Korea's Seoul Composite plunged 1.19% pr 22.23 points at 1,850.01.

US markets: The Dow Jones industrial average gained 51.70 points, or 0.04%, to 13,010.14. The Standard & Poor's 500 index advanced 6.43 points, or 0.45%, to 1,439.70, and the Nasdaq composite index surged 3.43 points, or 0.13%, to 2,596.81.
The market is just witnessing a correction, on account of year-end profit booking by the FIIs, says Manish Sonthalia of Motilal Oswal Securities, on CNBC-TV18. So December may be a subdued month for the market, but January will see fund flows coming back, he adds. The key sectors to be overweight on are infrastructure, power, finance and real estate, he says.

Europe opens in the positive while the Asian markets have taken a tumble. The intense global volatility is affecting the Indian market that continues to slide. The Sensex is currently trading at 18933, down 347 points while Nifty is at 5678, down 102 points from the previous close. The BSE Midcaps Index that was looking resilient till now has crumbled and is down by 1.5% The market breadth is negative with advances at 316 against declines of 874 on the NSE.

In the financial services space, Kotak Mahindra Bank and Indiabulls Financial are good stocks, says Manish Sonthalia, VP, Motilal Oswal Securities, on CNBC TV18. The high multiples in this sector will be maintained and one can expect a growth of 25-30% going forward, he adds. Kotak Mahindra Bank is currently trading at Rs 1113, down 2.5% and Indiabulls Financial is trading at Rs 803, up 0.57% on the BSE.


Buy ICSA (India) Ltd CMP Rs 346 Target Rs 460 in 2 Months

New product offerings and continuous R&D provides an edge over peers
ICSA, which offers products and solutions for power, oil and gas and the water
segment, has developed products and solutions to arrest losses during
transmission. Apart from conventional products, it developed Intelligent Cathodic
Protection solutions (iCAP), Intelligent Automatic Meter Reading (IAMR), Intelligent

Automatic Water Reading solution (IAWR) and street light monitoring control
systems. Presence in these segments that are currently witnessing huge spend,
with a host of new product offerings for which IPRs have been filed, will help ICSA
sustain high growth in future.

Power, oil and gas transmission grid offer opportunities for growth
Since ICSA’s products and services are designed to tap transmission and
distribution (T&D) losses, it would be a major beneficiary of the spending under the
Accelerated Power Development and Reforms Programme (APDRP). The company
provides services like energy management, energy audit and control applications,
which are tools for arresting losses. Coupled with this, capex announced by oil and
gas companies also provides an opportunity for its pipeline management products
and services.

Value added products should expand margins
With the introduction of newer and better products, we expect the company’s
operating margin to expand. This will be supported by patents for three of its
products, which could lead to improved realizations. We expect operating margins
to sustain at 26%, an improvement of 140 bps by FY09E over FY07.

81.5% profit CAGR over FY07-09E, Recommend BUY
ICSA’s revenues and profits have registered high growth of 293.2% and 297.6%
CAGR over FY05-07. ICSA is a proxy on the growth opportunities in the power
sector. With robust growth outlook over the next five years due to greater focus on
implementation of APDRP, we expect ICSA’s revenues and profits to witness 75.6%
and 81.5% CAGR over FY07-09 respectively. At the current price, the stock trades
at 12.5x and 8.3x its FY08E and FY09E EPS of Rs25 and Rs37.6 respectively. We
recommend BUY with a one-year price target of Rs451, an upside of 44.7%
The Sensex is hovering around 19,000 and is currently trading at 19,037, down 242 points from the previous close. Nifty is at 5700, down 80 points. The BSE Midcap and Smallcap indices are also in the negative terrain. Capital goods, banking, metals and oil & gas stocks are witnessing significant selling pressure.

The decline should stop around 5600 on the Nifty, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. So go long with 100-120 points stoploss, he suggests. This is a good place to go long, he adds.
The market has opened marginally lower on Wednesday. The Sensex is currently trading at 19,178, down 102 points from the previous close. Nifty is at 5741, down 39 points.

Buy TTML CMP Rs 49 Target Rs 65 in 2 Months

TTML is trading against the sector trend, says Srikanth Chouhan, technical analyst with Kotak Securities, on NDTV Profit. At lower levels, the stock will find support at Rs 48-49 and on the upside, it may face resistance at Rs 58-59, he says. But once it crosses the resistance, it can go up to Rs 78-80 in the near term, he adds.



Tuesday, November 20, 2007

The Indian market closed in the negative while its peers, the European and Asian markets, traded in the positive. The Sensex closed at 19280, down 352 points while Nifty closed at 5780, down 126 points from the previous close. The BSE Midcap Index closed in the negative (down 2%) after a 5-day winning streak. The BSE Smallcap Index closed in the positive, was up by 0.4%. The market breadth was negative with advances at 542 against declines of 655 on the NSE. The list of losers included Hindalco, Nalco, Tata Power, BHEL (all by 6%), Sterlite Industries, Vijaya Bank and Reliance Capital (all by 5%), Eaasr Oil (9%) and Infosys (3%).

The spotlight is expected to be on Religare Securities tomorrow as it gets listed on the BSE, reports NDTV Profit. The Religare IPO was subscribed 161 times and the issue price was Rs 185 per share. Issue for another brokerage stock, Edelweiss, closes today.
Top Five Gainer's

CompanyPrice (Rs)% Change
+ Jindal Stainless Ltd 205.40+16.08
+ Century Enka 179.00+5.51
+ Fertilisers & Ch 47.70+4.95
+ D-Link India Ltd. 91.35+4.94
+ Nirma Limited 221.60+4.78


Top Five Loser's

+ Chennai Petro. 416.20 -8.61
+ Alok Industries Ltd. 73.45 -8.59
+ Allahabad Bank 113.65 -8.27
+ National Alumini 372.45 -8.09
+ Shipping Corpn. 256.85 -7.96
The market is falling fast. The Sensex is currently trading at 19242, down 391 points while Nifty is at 5768, down 138 points from the previous close. The BSE Midcaps is down by 2.5%. The market breadth has turned negative with advances at 544 against declines of 651 on the NSE.

The correction in the midcaps is not disturbing and likely to be a short-term reversal, says Rajat Bose, technical analyst, on CNBC-TV18. It was getting too easy to buy midcap stocks and make money. The weak hands will now fall out in this correction, he adds.

The Nifty has crucial support at 5752 and if it breaks that it can go to 5700, says Rajat Bose, technical analyst, on CNBC-TV18. There is reason for concern as the market witnesses delivery-based selling, he adds. The market was overheated and an intra-day running correction seemed imminent.

The Indian market seems overvalued at current levels, says Jonathan Garner of Morgan Stanley, on CNBC TV18. Corporate earnings growth cannot be sustained at current levels and Taiwan is favoured over India in the MSCI Index. A suitable valuation for the Sensex would be at PE of 17x, he says. Morgan Stanley is bullish on the telecom, energy and steel sectors.
The Nifty may open around 5765 today, says an NDTV Profit Poll. The 50-share index will have major support at 5710. Stocks to watch todat are Punj Lloyd, Ambuja Cements and TVS Motors.

If the market falls 150 to 200 points from the current levels, one can certainly jump in and stocks like IFCI, IDBI, Renuka Sugars and even ACC, says Deven Shah, technical analyst, on NDTV Profit. There is no reason to fear, he adds.

The market opened marginally lower on Tuesday. Currently the Sensex is at 19,540, down 93 points from the previous close. Nifty is at 5874, down 33 points.

Stock Market's All over the world are down ! Be Cautious

Stocks slid further Monday as Wall Street absorbed a gloomy outlook for the banking sector as well as bleak news from the National Association of Homebuilders. The Standard & Poor's 500 index and the Dow Jones industrial average each lost more than 1.5 percent, with the Dow down more than 200 points.

Setting the tone was Goldman Sachs Group Inc.'s downgrade of large banks, and its estimate that Citigroup Inc. would have to write down $15 billion due to its exposure to risky debt over the next two quarters.

The worry on Wall Street is that the housing market is getting so weak it will crimp consumer spending, which until now has helped keep the economy afloat. Ahead of the holiday shopping season, any signs that Americans are pulling back could prevent a December rally.

The NAHB's November housing forecast remained unchanged after the October figure was revised to 19 from 18. Economists polled by Thomson/IFR had expected the index would come in at 18.

"I think that a lot of folks are digesting the news from last week and they're worried about the economy and the ability to grow earnings at the larger companies in America," said Rob Lutts, chief investment officer at Cabot Money Management Inc. in Salem, Mass.

In late afternoon trading, the Dow industrials fell 209.40, or 1.59 percent, to 12,967.39.

Broader stock indicators also declined. The S&P 500 index fell 22.58, or 1.55 percent, to 1,436.16, and the Nasdaq composite index fell 39.74, or 1.51 percent, to 2,597.50.

The Russell 2000 index of smaller companies fell 17.81, or 2.31 percent, to 751.69. Investors often view smaller companies as more likely to be hit hard in a slowing economy because they can't as easily get by on thin profit margins as some big companies with overseas operations.

Stocks have fallen in six of the last eight sessions. Last week, stock finished higher after a string of volatile sessions. The Dow ended up 1.03 percent for the week, while the S&P 500 index ended up 0.35 percent, and the Nasdaq finished up 0.35 percent.

Government bond prices rose sharply Monday as investors sought safety. The yield on the 10-year Treasury note, which moves opposite its price, fell to 4.06 percent from 4.15 percent late Friday. The 10-year note hasn't gone below the 4.1 percent level since early September 2005.

The dollar fell against other major currencies, while gold fell.

Crude oil futures for January delivery rose 89 cents to $94.73 per barrel on the New York Mercantile Exchange.

John Merrill, chief investment officer at Tanglewood Capital Management in Houston, contends investors are still grappling with the scope of the writedowns related to the housing market and related ramifications of a housing slowdown, such a more cautious consumer.

"Certainly in the financial sector the concerns seem to be never-ending. The potential for write-offs seems to keep growing," he said. "This is having to settle in and the process of settling in means you become more aware of how more meaningful and how restricting these writedowns are."

One big area of concern for investors was again Citigroup, which said earlier this month it would likely write down $8 billion to $11 billion in the fourth quarter. The bank fell $1.93, or 5.7 percent, to $32.07 after the Goldman downgrade to a "sell" rating.

Lowe's Cos. posted a 10 percent decline in third-quarter profit Monday, slightly better than expected. But the home improvement retailer lowered its forecast in anticipation of further deterioration in housing. Lowe's fell $1.74, or 7 percent, to $23.27.

Celgene Corp.'s announcement late Sunday that it agreed to buy Pharmion Corp. for $72 a share in a cash-and-stock deal worth $2.9 billion failed to bring much enthusiasm to Wall Street. Celgene fell $1.11 to $63.79, while Pharmion jumped $15.61, or 31.6 percent, to $64.89.

Declining issues outnumbered advancers by more than 5 to 1 on the New York Stock Exchange, where volume came to 1.22 billion shares.

Stock markets overseas slumped. In European trading, Britain's FTSE 100 closed down 2.71 percent, Germany's DAX index fell 1.32 percent, and France's CAC-40 slid 1.65 percent. In Asian trading, Japan's Nikkei stock average fell 0.74 percent, while Hong Kong's Hang Seng index decreased 0.56 percent.
It started as a good day for markets but the frontliners failed to hold their gains at the higher levels and ended near the lowest point of the day. The rally in the midcaps and smallcaps continued and the market breadth was significantly positive. Nifty closed flat at 5,908, while Sensex shut shop at 19,633 down 65 points.

Analysts believe that it is better to stick to the midcap index and also some of the leading frontline highly liquid counters rather than get into counters which have just about started seeing explosive volumes because volumes can dry up as fast as they have spurted up.

Ajay Srivastava of Dimensions Consulting believes a basic shift has taken place in terms of the demand and supply in the midcaps and smallcaps space. He said there is a lot of liquidity in the stocks. As an investor one should ideally allocate 20-25%, not more than that of the portfolio to midcap and smallcap, he explains. “The critical element is that whenever there is a correction, in the liquid stocks, in the mainline stocks, you can sell out. Here, there is no exit for months.” he adds.

So, he said, people must be very clear that they will have to hold these stocks for longer periods and volatility is very high. Therefore, he advises, not to allocate more than 20-25% to these stocks, irrespective of the returns of 30-35%.

Dipan Mehta, Member Of BSE & NSE feels that clearly there is a changing complexion of the investors in the market and the liquidity flows over the past couple of months was from institutions and the FIIs which were driving these stocks over here and "therefore we saw the kind of outperformance in the large cap stocks and the index stocks but over the past about 15-20 trading sessions, we have seen the emergence of the Indian retail investors category into the market and that’s the reason why we are seeing so much of action and pick up in volume in some of the midcap and the smallcap stocks".

Experts feel that there are typical stocks which are quite illiquid and even with the small dose of capital coming into these counters, they have fantastic moves, which is seen over the past few days.

Monday, November 19, 2007

Top Five Gainer's

CompanyPrice (Rs)% Change
+ Nirma Limited 211.50+27.49
+ Apollo Tyres 43.90+19.62
+ Essel Propack Ltd. 61.50+16.37
+ Vijaya Bank 84.00+13.98
+ Dabur India 125.70+13.86

Top Five Loser's

+ Federal Bank 368.15 -22.41
+ Dredging Corpora 1,212.55 -4.91
+ Bongaigaon Refin 100.45 -4.52
+ Hind. Petrol 302.30 -4.49
+ Bharat Petroleum 415.45 -4.42
The market was sluggish and frontline stocks slipped in late trade. The Sensex closed in the negative at 19633, down 65 points while Nifty closed at 5907, up only 0.80 point, from the previous close. The BSE Midcaps and the BSE Smallcaps both closed nearly up by 3%. The market breadth was positive with advances at 949 against declines of 256 on the NSE. The Sensex gainers included Tata Steel, ACC, ONGC and Bajaj Auto while losers included Reliance Industries, ITC, RPL and HDFC Bank.

In the FMCG sector, stocks that have good long-term prospects include P&G, Godrej Consumer Products, Britannia and Marico Industries, says Jigar Lodaya of Sharekhan Securities, on NDTV Profit.

The stars of the day in the BSE Midcaps segment have been Nirma (up 32%), Vijaya Bank and CBoP (both up 15%) and Excide (up 13%), reports NDTV Profit.
Neyveli Lignite has a short to medium term target price of Rs 270, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. But it can acheive this target only if it breaks the resistance of Rs 228, he adds. Keep a stoploss of 205-206 for now, he says. A good level to enter the stock is Rs 180, he says.

Buy NTPC CMP Rs 270 Target Rs 320-325

If NTPC can break its earlier highs, then it can easily go to Rs 320-325, says MB Singh, technical analyst, on Zee Business.
The market is holding on to its gains and is witnessing broad based interest. The Sensex is at 19,807, up 109 points from the previous close. Nifty is at 5961, up 54 points. Market breadth is extremely positive, with 1003 advances against 187 declines on the NSE.

The banking space as a whole looks promising, says Rahul Mohindar, technical analyst, on CNBC-TV18. Allahabad Bank has a short term target of Rs 135, he says. The stock is currently trading at Rs 125.15, up 5.3% on the BSE.

Vijaya Bank can go up over 25% from its current levels in the next 3-6 months, says Rahul Mohindar, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 82.50, up 11.9% on the BSE.
The markets opened with gap up on the back of strong cues from the US markets, however the Asian cues were not very encouraging today. Buying was seen across the sectors in the early trade today.

At 9:56 am, Sensex was up 270 points at 19971 and Nifty was up 71 points at 5968. Major gainers in the early trade were Rel Energy, RPL, Essar Oil, ACC, NTPC, ITC, Hindalco, MTNL, ICICI Bank, HUL.

Asian markets: Asian markets mostly rose today, boosted by a higher close on Wall Street. Hong Kong's Hang Seng surged 0.43% or 117.39 points at 27,731.82, Japan's Nikkei gained 0.29% or 43.21 points at 15,197.82, Taiwan's Taiwan Weighted rose 0.29% or 25.83 points at 8,790.65, Singapore's Straits Times was up 0.44% or 15.01 points at 3,455.97 and South Korea's Seoul Composite was flat at 1,925.39.
A positive openeing is expected for the market, says an NDTV Profit Poll. The Nifty may breach its previous high today. It is expected to trade in the range 5875-5970. Stocks to watch today are Exide Industries, Bajaj Auto and SBI.

The market opened higher on Monday, despite slightly weak global cues. The Sensex is currently trading at 19,922, up 223 points from the previous close. Nifty is at 5957, up 51 points.

Sugar is a good space if you are looking at investing, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. If you have 3-4 quarters' perspective, then Bajaj Hindusthan and Balrampur Chini are good picks, he adds. As long as Bajaj Hindusthan sustains above Rs 200 and Balrampur Chini above Rs 90-92, momentum will continue in these counters, he adds.