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India Infoline Research Team / 08:41 , Sep 09, 2010
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We don't receive wisdom; we must discover it for ourselves after a journey that no one can take for us or spare us - Marcel Proust
At the moment it looks like India is out-performing the world. This week’s movement presents ample evidence of that trend. Whether this pattern continues or not only time will tell. We expect a positive start and the same could be extended provided there are no further hiccups in world markets. Small-caps have been buzzing, but make sure your allocation is also small on these counters given the heightened risk associated with such counters.
The overall outlook in the near term is still not very bright, mostly owing to external concerns. But, the Indian market is likely to remain resilient and could continue the gradual move up, especially when global cues are supportive. Valuations might become a bit of an issue going forward. Also keep an eye on fund flows, which have been good so far.
The big local events that could have a bearing on sentiment are: IIP data (on Friday), inflation (on Sept. 14) and RBI review (on Sept. 16). Next month we will get the latest update on India Inc.’s report card.
| ADR/GDR |
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Latest (US$) |
Price % chg |
% Prem/Disc |
| Dr. Reddys |
30.4 |
(0.3) |
1.0 |
| HDFC Bk |
165.1 |
1.0 |
17.7 |
| ICICI Bk |
44.4 |
2.3 |
0.8 |
| ITC |
3.5 |
(0.8) |
(0.0) |
| Infosys |
61.6 |
1.3 |
(0.2) |
| Satyam |
5.3 |
0.0 |
30.8 |
| Ranbaxy |
10.8 |
(2.1) |
(2.0) |
| Reliance |
41.5 |
0.9 |
0.9 |
| Wipro |
13.1 |
0.9 |
48.7 |
| SBI |
124.8 |
3.5 |
0.5 |
| Tata Motors |
22.7 |
0.5 |
2.3 |
| Sterlite |
14.4 |
2.1 |
300.5 |
| L&T |
40.4 |
1.2 |
0.9 |
| Indian market |
|
% change |
| |
Last close |
1 day |
3 mth |
YTD |
| Sensex |
18,667 |
0.1 |
12.1 |
6.9 |
| Nifty |
5,608 |
0.1 |
12.2 |
7.8 |
| BSE 100 |
2,395 |
0.1 |
12.7 |
9.9 |
| BSE 200 |
7,596 |
0.1 |
13.4 |
11.0 |
| CNX Midcap |
9,030 |
0.2 |
16.0 |
21.5 |
| BSE Smallcap |
10,216 |
0.6 |
20.3 |
22.2 |
| Developed market |
|
% change |
| |
Last close |
1 day |
3 mth |
YTD |
| Dow Jones |
10,387 |
0.4 |
4.9 |
(0.4) |
| Nasdaq |
2,229 |
0.9 |
3.2 |
(1.8) |
| S&P 500 |
1,099 |
0.6 |
4.1 |
(1.5) |
| FTSE |
5,430 |
0.4 |
6.8 |
0.3 |
| CAC |
3,677 |
0.9 |
6.7 |
(6.6) |
| DAX |
6,164 |
0.8 |
3.0 |
3.5 |
| Hang Seng* |
21,193 |
0.5 |
8.0 |
(3.1) |
| Nikkei* |
9,096 |
0.8 |
(3.6) |
(13.8) |
| S&P/ASX200* |
4,581 |
1.0 |
4.5 |
(5.9) |
| * Markets are open |
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| Emerging market |
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% change |
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Last close |
1 day |
3 mth |
YTD |
| Shanghai Comp |
2,686 |
(0.3) |
4.0 |
(18.0) |
| Brazil Bovespa |
66,407 |
(0.5) |
8.0 |
(3.2) |
| Mexico Bolsa |
32,410 |
(0.1) |
3.8 |
0.9 |
| Kospi* |
1,785 |
0.3 |
8.4 |
6.1 |
| Micex |
1,422 |
1.7 |
8.1 |
3.8 |
| Taiwan* |
7,867 |
0.2 |
11.3 |
(3.9) |
| Straits* |
3,015 |
0.1 |
9.8 |
4.1 |
| * Markets are open |
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| Institutional activity |
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| (Rs cr) |
Cash |
F&O |
MTD |
YTD |
| FIIs |
201 |
1,348 |
10,647 |
58,549 |
| MFs |
#N/A |
- |
(2,818) |
(15,168) |
| FIIs Prov. |
282 |
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| MFs Prov. |
(98) |
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| Commodities |
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% change |
| |
Last close |
1 day |
3 mth |
YTD |
| Crude (US$/bbl) |
74.6 |
(0.1) |
0.3 |
(6.0) |
| Gold (US$/oz) |
1,256 |
0.1 |
1.8 |
14.5 |
| Copper (US$/mt) |
7,660 |
0.6 |
24.9 |
4.3 |
| Aluminium (US$/mt) |
2,131 |
(0.3) |
12.9 |
(3.0) |
| Zinc (US$/mt) |
2,190 |
1.4 |
28.6 |
(13.4) |
| Advance/Decline stocks |
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| (Nos) |
A |
B |
S |
Total |
| Adv |
105 |
1,065 |
216 |
1,600 |
| Dec |
98 |
874 |
199 |
1,348 |
| Unch |
1 |
82 |
9 |
118 |
| A/D ratio (x)* |
1.1 |
1.2 |
1.1 |
1.2 |
| *A/D excluding Unch |
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| Trade value |
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| (Rs cr) |
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% chg |
| Cash NSE |
14,112 |
(7.4) |
| Cash BSE |
5,810 |
10.5 |
| Total Cash |
19,922 |
(2.8) |
| Delivery (%) |
42.0 |
- |
| Derivatives |
93,264 |
(4.6) |
| Currency |
|
% change |
| |
Last close |
1 day |
3 mth |
YTD |
| Rs/US$ |
46.64 |
(0.4) |
0.7 |
(0.2) |
| Rs/EUR |
58.79 |
(0.6) |
(4.3) |
13.3 |
| US$/GBP |
1.55 |
(0.1) |
6.4 |
(4.4) |
| US$/EUR |
1.27 |
0.0 |
6.2 |
(11.2) |
| Yen/US$ |
83.67 |
(0.3) |
9.1 |
11.2 |
| Bond market |
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Last Close (%) |
Bps chg |
| 10yr Gsec |
7.94 |
(0.01) |
| Call rate |
4.75 |
(0.50) |
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