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| India Infoline Research Team / 08:40 , Feb 09, 2010 |
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We now have statistical evidence to substantiate that the green shoots in India have blossomed further. Apart from the subdued credit growth and tepid tax receipts (partly owing to fiscal stimulus) most other economic indicators have improved substantially. |
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A bland smile is like a green light at an intersection, it feels good when you get one, but you forget it the moment you're past it.
The ball is now in the Finance Minister’s court. In that context, Feb. 26 will be a crucial day. Pranab Mukherjee is likely to take a calibrated approach to unwinding the fiscal stimulus. He has his task cut out on the fiscal front. So, we expect him to articulate strategy to return to the path of fiscal prudence. Any deviation from this will be disappointing.
Today we expect a flat opening due to indecisive global cues. The Dow Jones has closed below 10,000. Stocks in Europe finished higher. Asia is pretty much mixed.
Derivative indicators are pointing to further weakness. Technically, 4700 could give near-term support to the Nifty while resistance might kick in at 4800. The 200 DMA of 4640 will continue to be a crucial level to watch.
| ADR/GDR |
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Latest (US$) |
Price % chg |
% Prem/Disc |
| Dr. Reddys |
23.3 |
(3.5) |
(2.1) |
| HDFC Bk |
110.8 |
(0.5) |
10.3 |
| ICICI Bk |
33.6 |
0.1 |
(2.4) |
| ITC |
5.2 |
(1.3) |
(0.2) |
| Infosys |
51.1 |
0.4 |
(0.4) |
| Satyam |
4.9 |
0.2 |
17.4 |
| Ranbaxy |
8.7 |
0.0 |
1.4 |
| Reliance |
41.8 |
(0.3) |
(1.6) |
| Wipro |
19.3 |
(1.2) |
42.2 |
| SBI |
82.6 |
2.6 |
(0.2) |
| Tata Motors |
14.5 |
1.3 |
0.6 |
| Sterlite |
15.7 |
(0.5) |
(2.2) |
| L&T |
30.8 |
2.4 |
(0.2) |
| Indian market |
|
% change |
| |
Last close |
1 day |
3 mth |
YTD |
| Sensex |
15,936 |
0.1 |
(1.4) |
(8.1) |
| Nifty |
4,760 |
0.1 |
(0.7) |
(8.5) |
| BSE 100 |
2,022 |
0.1 |
0.5 |
(6.8) |
| BSE 200 |
6,382 |
0.1 |
1.4 |
(6.2) |
| CNX Midcap |
7,171 |
0.3 |
4.9 |
(3.5) |
| BSE Smallcap |
8,191 |
(0.1) |
14.2 |
(1.4) |
| Developed market |
|
% change |
| |
Last close |
1 day |
3 mth |
YTD |
| Dow Jones |
9,908 |
(1.0) |
(1.1) |
(5.0) |
| Nasdaq |
2,126 |
(0.7) |
0.6 |
(6.3) |
| S&P 500 |
1,057 |
(0.9) |
(1.2) |
(5.2) |
| FTSE |
5,092 |
0.6 |
(1.0) |
(5.9) |
| CAC |
3,607 |
1.2 |
(2.7) |
(8.4) |
| DAX |
5,485 |
0.9 |
(0.1) |
(7.9) |
| Hang Seng* |
19,658 |
0.5 |
(11.5) |
(10.1) |
| Nikkei* |
9,908 |
(0.4) |
1.0 |
(6.1) |
| S&P/ASX200* |
4,487 |
(0.8) |
(4.0) |
(7.9) |
| * Markets are open |
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| Emerging market |
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% change |
| |
Last close |
1 day |
3 mth |
YTD |
| Shanghai Comp |
2,948 |
0.4 |
(7.2) |
(10.0) |
| Brazil Bovespa |
63,153 |
0.6 |
(2.0) |
(7.9) |
| Mexico Bolsa |
30,649 |
0.1 |
2.6 |
(4.6) |
| Kospi* |
1,559 |
0.4 |
(1.1) |
(7.4) |
| Micex |
1,322 |
(2.5) |
6.5 |
(3.5) |
| Taiwan* |
7,308 |
1.3 |
(3.0) |
(10.7) |
| Straits* |
2,692 |
(0.1) |
(0.1) |
(7.1) |
| * Markets are open |
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| Institutional activity |
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| (Rs cr) |
Cash |
F&O |
MTD |
YTD |
| FIIs |
(1,630) |
405 |
(5,416) |
(2,360) |
| MFs |
- |
- |
(511) |
(1,816) |
| FIIs Prov. |
(936) |
|
|
|
| MFs Prov. |
381 |
|
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| Commodities |
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% change |
| |
Last close |
1 day |
3 mth |
YTD |
| Crude (US$/bbl) |
71.9 |
1.0 |
(9.9) |
(9.8) |
| Gold (US$/oz) |
1,063 |
(0.3) |
(3.5) |
(2.9) |
| Copper (US$/mt) |
6,427 |
2.7 |
(0.7) |
(12.5) |
| Aluminium (US$/mt) |
1,981 |
1.6 |
5.5 |
(9.8) |
| Zinc (US$/mt) |
2,008 |
4.3 |
(6.5) |
(20.6) |
| Advance/Decline stocks |
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| (Nos) |
A |
B |
S |
Total |
| Adv |
99 |
708 |
178 |
1,329 |
| Dec |
104 |
802 |
188 |
1,444 |
| Unch |
1 |
44 |
8 |
81 |
| A/D ratio (x)* |
1.0 |
0.9 |
0.9 |
0.9 |
| *A/D excluding Unch |
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| Trade value |
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| (Rs cr) |
|
% chg |
| Cash NSE |
14,132 |
1.0 |
| Cash BSE |
4,527 |
5.1 |
| Total Cash |
18,659 |
1.9 |
| Delivery (%) |
31.2 |
- |
| Derivatives |
93,132 |
2.9 |
| Currency |
|
% change |
| |
Last close |
1 day |
3 mth |
YTD |
| Rs/US$ |
46.81 |
0.1 |
(0.8) |
(0.6) |
| Rs/EUR |
63.85 |
(0.2) |
9.2 |
4.3 |
| US$/GBP |
1.56 |
0.1 |
(6.9) |
(3.5) |
| US$/EUR |
1.37 |
0.2 |
(8.8) |
(4.5) |
| Yen/US$ |
89.47 |
0.2 |
0.5 |
4.0 |
| Bond market |
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Last Close (%) |
Bps chg |
| 10yr Gsec |
7.67 |
0.00 |
| Call rate |
3.30 |
0.02 |
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