Inspiration & fears

Keep your fears to yourself, but share your inspiration with others.

- RL Stevenson

A mid-week break has brought in renewed energy and inspiration. A positive opening is on the cards, spurred by the overnight rally in the overseas markets. The Dow Jones Industrial Average closed at the highest level since Dec. 2007 on the back of strong manufacturing PMI data. European markets open for trading finished higher with the UK’s FTSE 100 pacing the gains.

Asian markets are mostly positive after official data showed strength in China’s key manufacturing sector and Australia’s central bank cut interest rates. 

Will the money bags open for India? On the flip side, the domestic data continues to show weakness. Exports fell in March while FY12 trade gap hit a record high. The core sector grew by a mere 2% in March.

HUL and FMCG stocks will be in focus after the sector bellwether announced strong Q4 earnings. Auto stocks will also be in the spotlight after companies reported March sales. Bharti Airtel and Hero MotoCorp will announce their Q4 numbers today. Samvardhana Motherson Finance Ltd. IPO opens today as well. Provisional FII figure for Monday is encouraging but the market will be cautious as the GAAR controversy is yet to be resolved.

ADR/GDR
	Latest (US$)	Price % chg	% Prem/Disc
Dr. Reddys	33.8	(0.0)	1.2
HDFC Bk	33.8	(1.5)	9.6
ICICI Bk	34.1	0.5	1.8
ITC	4.7	(0.6)	(0.0)
Infosys	47.4	0.1	1.5
Ranbaxy	9.6	0.0	0.8
Reliance	28.3	0.3	0.2
Wipro	9.7	0.0	25.8
SBI	81.9	0.7	1.0
Tata Motors	29.9	0.4	(0.4)
Sterlite	8.2	(0.5)	1.3
L&T	23.5	0.5	1.0

Indian market		% change
	Last close	1 day	3 mth	YTD
Sensex	17,319	0.8	0.1	12.1
Nifty	5,248	1.1	0.2	13.5
BSE 100	2,137	0.7	1.0	15.4
BSE 200	6,699	0.7	1.4	15.9
CNX Midcap	7,471	1.4	3.9	22.2
BSE Smallcap	6,765	0.6	2.9	21.9
Developed market		% change
	Last close	1 day	3 mth	YTD
Dow Jones	13,279	0.5	4.5	8.7
Nasdaq	3,050	0.1	6.7	17.1
S&P 500	1,406	0.6	6.1	11.8
FTSE	5,812	1.3	0.3	4.3
CAC	3,213	(1.6)	(4.6)	1.7
DAX	6,761	(0.6)	2.2	14.6
Hang Seng*	21,297	1.0	4.7	15.5
Nikkei*	9,362	0.1	5.5	10.7
S&P/ASX200*	4,432	0.1	3.9	9.3
* Markets are open
Emerging market		% change
	Last close	1 day	3 mth	YTD
Shanghai Comp	2,417	0.9	5.4	9.9
Brazil Bovespa	61,820	0.2	(4.3)	8.9
Mexico Bolsa	39,461	0.3	4.6	6.4
Kospi*	1,997	0.8	1.9	9.4
Micex	1,474	0.3	(2.7)	5.1
Taiwan*	7,600	1.3	0.7	7.5
Straits*	2,993	0.5	3.0	13.1
* Markets are open
Institutional activity
(Rs cr)	Cash	F&O	MTD	YTD
FIIs	(331)	981	(1,109)	42,929
MFs	-	-	(678)	(6,105)
FIIs Prov.	480
MFs Prov.	(247)
Commodities		% change
	Last close	1 day	3 mth	YTD
Crude (US$/bbl)	105.8	(0.3)	9.8	7.1
Gold (US$/oz)	1,660	(0.2)	(5.7)	6.1
Copper (US$/mt)	8,537	0.0	1.4	12.5
Aluminium (US$/mt)	2,082	0.2	(6.6)	4.4
Zinc (US$/mt)	2,047	(0.4)	(3.1)	12.0
Advance/Decline stocks
(Nos)	A	B	S	Total
Adv	71	849	1,428	967
Dec	43	816	1,323	1,137
Unch	88	436	662	745
A/D ratio (x)*	1.7	1.0	1.1	0.9
*A/D excluding Unch
Trade value
(Rs cr)			% chg
Cash NSE	8,861		(10.9)
Cash BSE	1,639		(17.0)
Total Cash	10,500		(11.9)
Delivery (%)	41.1		-
Derivatives	66,256		(22.2)
Currency		% change
	Last close	1 day	3 mth	YTD
Rs/US$	52.74	0.4	(6.2)	0.6
Rs/EUR	69.70	0.2	(6.4)	(1.4)
US$/GBP	1.62	0.1	2.7	4.4
US$/EUR	1.32	(0.1)	0.6	2.0
Yen/US$	80.16	0.1	(4.9)	(4.1)
Bond market
	Last Close (%)		Bps chg
10yr Gsec	8.68		0.01
Call rate	8.90		0.50