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Morning Notes Date: 27.01.2012 Morning Notes Date: 27.01.2012 For Internal circulation only GRAPH GLOBAL NEWS Asia Stocks Snap 2-Day Rally, Yen Rises Asian stocks snapped a two-day rally after U.S. home sales unexpectedly fell and the yen gained against the dollar, damping the earnings outlook for the region’s exporters. James Hardie Industries SE (JHX), a building-materials KEY INDICES supplier that gets almost 70 percent of sales from the U.S., Indian Markets slid 0.3 percent in Sydney. Inpex Corp. (1605), Japan’s No. 1 energy explorer, advanced 2 percent after oil and metal prices gained. NEC Corp., a Japanese electronics maker, slid Index Close Change (%) 7.1 percent after saying it will cut 10,000 jobs and S&P CNX NIFTY 5158.30 0.60 forecasting its third annual loss in four years. CNX NIFTY JUNIOR 9751.00 1.46 South Korean Manufacturers’ Confidence Index Is Near CNX 100 5031.05 0.74 Lowest Since July ‘09 S&P CNX DEFTY 3569.70 0.51 S&P CNX 500 4051.80 0.87 South Korean manufacturers’ confidence is near a 30- CNX MIDCAP 7051.00 1.39 month low as Europe’s debt crisis dims the outlook for exports. An index measuring expectations for February was NIFTY MIDCAP 50 2096.85 1.71 at 81 from January’s 79, the lowest level since July 2009, a SENSEX 17077.18 0.48 statement from the Bank of Korea showed in Seoul today. A measure of expectations at non-manufacturing companies Global Markets was unchanged at 79. South Korea’s economy grew the least in two years in the fourth quarter as exports sank Index Close Change (%) because of Europe’s crisis and a faltering global expansion, a government report showed yesterday. S&P 500 1318.43 -0.57 NASDAQ 2805.28 -0.46 Japanese Stocks Decline on Falling U.S. Home Sales, Rising DOW JONES 12743.63 -0.18 Jobless Claims FTSE 5795.20 1.26 DAX 6539.85 1.84 Japanese stocks fell for a second day after new homes sales CAC 40 3322.65 -0.47 unexpectedly fell in the U.S. and jobless benefit claims rose, NIKKEI 8850.67 0.01 clouding the outlook for exporters. Sony Corp. (6758), a HANG SENG 20526.17 0.43 consumer electronics company that gets about 70 percent STRAITS TIMES 2900.09 0.19 of its sales overseas, slid 1.5 percent. Nintendo Co. sank 5.9 percent after the world’s largest maker of video-game Global data recorded/updated last as on 27, Jan. 7.30 a.m. IST consoles said its loss would triple. Mitsubishi Corp. (8058), Japan’s largest commodities trader by market value, rose 1.1 percent as prices for crude and metals gained. 1 We Make Investment Easier NIFTY TOP GAINERS NIFTY TOP LOSERS Indian Markets Indian Markets Change Change Company Close (%) Company Close (%) RELIANCE ENR 513.80 7.14 TATA POWER 105.45 -2.04 SESA GOA LTD 200.70 5.99 HERO HONDA 1,853.90 -1.81 VIDESH SANCH 236.40 4.23 H C L TECH 420.80 -1.79 BHARAT PETRO 579.60 4.18 CAIRN IND 345.85 -1.66 MARKET SUMMARY Wednesday, the key domestic benchmarks closed on a strong note as the Sensex surpassed the 17K mark amid firm cues from the Asian markets. The Metal and PSU space led the rally. BSE SENSEX closed at 17077.18 up by 81.41 points or by 0.48 % and then NSE Nifty ended at 5158.3 up by 30.95 points or by 0.6 %.The BSE MIDCAP closed at 5834.04 up by 72.13 points or by 1.25 %, while the BSE SMLCAP ended at 6408.45 up by 70.44 points or by 1.11 %.The BSE Sensex touched intraday high of 17130.24 and intraday low of 17016.69 The NSE Nifty touched intraday high of 5174.15 and intraday low of 5130.25. The weak closing of the US markets on Tuesday made little impact on domestic sentiment during morning trade. On Tuesday, the Dow Jones Industrial Average ended down by 0.26% or 33.07 points at 12,675.75, the S&P 500 ended down 0.10% or 1.35 points at 1,314.65 and the Nasdaq closed up by 0.09% or 2.47 points at 2,786.64. Soon after witnessing a gap up opening, the benchmarks continued to trade in the positive terrain amid firm Asian market cues. Asian markets were trading in the positive terrain on Wednesday as a weaker yen boosted the outlook for Asian exporters. Moreover, record quarterly earnings reported by Apple Inc., the world’s largest technology company also lifted sentiment. Apple Inc. said that its first quarter profit more than doubled to USD 13.06 billion from USD 6 billion in the year ago period on robust iPhone and iPad sales. Moreover, the euphoria over the CRR cut by the RBI on Tuesday also supported sentiment. However, the benchmarks pared off some of their gains as Greece and its private creditors struggled to reach a deal on bond swap. Moreover, a third straight decline in Japanese exports in December 2011 also weakened sentiment. Moreover, the IMF slashed its global growth forecast to 3.3 per cent in 2012 from 4 per cent estimated earlier, which also weighed on sentiment. On the domestic front, the expiry of the F&O contracts also lead to volatility in trade. The benchmarks extended their gains during afternoon trade as the Sensex regained the 17K level. The benchmarks continued to trade on a firm note before surging to the day’s high. The benchmarks pared off some their gains in the final hour of trading amid weak opening in the European markets. Finally, the benchmarks ended on a robust note, with the Sensex and the Nifty gaining over 0.40% each. Among the BSE Sectoral indices, BSE Metal and BSE PSU ended up 1.79% and 1.24% respectively. Among the 30 Sensex stocks, Coal India, Tata Motors, Tata Steel, Sterlite Industries and Maruti Suzuki closed up 3.9%, 3.78%, 2.97%, 2.47% and 2.44% respectively. Among the Sensex stocks, there were 18 advances and 12 declines. On BSE out of total shares traded 3026 , shares advanced were 1837 while 1067 shares declined and 122 were unchanged. On the Economic front, the RBI has said that it prefers non-debt inflows into the Indian economy over debt inflows, adding that any increase in the investment limit for foreigners in Indian debt will not be automatic. 2 We Make Investment Easier NEWS UPDATES MACRO India and Thailand will sign a free trade agreement by the middle of this year , Thai Prime Minister Yingluck Shinawatra said on Wednesday. "I hope this free trade agreement with India will be in place by the middle of this year," Shinawatra said here in a speech at a business conference. She also said the proposed agreement will be one of the main points of the discussion when she meets Prime Minister Manmohan Singh later on Wednesday. In the backdrop of the stuttering Doha world trade talks, India has pushed a slew of trade agreements with the likes of Japan and Malaysia. It also hopes to sign a similar deal with the European Union, its biggest trade partner. COMPANY Essar Projects , part of the Essar Group, has bagged the EPC contract for the prestigious Ro-Ro Ferry Service Terminals at Gogha & Dahej from the Gujarat Maritime Board. The total project will cost Rs. 2.25bn and is scheduled to be completed in 15 months. The Bhoomi Pujan of Gogha – Dahej Ro Ro Ferry Service Terminal was performed by Honourable Chief Minister Shri. Narendrabhai Modi. The Honourable Chief Minster also laid the foundation stone at Gogha. Mangalore Refinery & Petrochemicals Ltd (MRPL), is reportedly worried about possible supply disruption because of international sanctions and is keeping all options open. Sudhir Vasudeva, Chairman, MRPL was quoted as saying that there is no supply disruption but the company is prepared for any eventuality and is in discussions with suppliers in Latin America, the Middle East and Africa. MRPL will import about 7.1 million tonnes of Iranian crude in 2011-12 and plans to continue such imports in the next fiscal year too, added reports. PBA Infrastructure has bagged contract worth Rs 544 million from ``Pimpri Chinchwad Municipal Corporation, Pimpri``. The contract is for improvement and development of Dehu Alandi Road from Ch. 0/000 Km to Ch. 8/250 Km (Dehu Village to Moshi Jadhawwadi village border road). Welspun Energy Ltd . (WEL) has inked an MoU with the Government of Andhra Pradesh for installing 500 MW of wind power projects. WEL is the latest entrant in the booming wind energy sector in India. As a leading player in solar energy with a portfolio of 500 MW under different stages of development, Welspun Energy has been aggressively moving forward in the renewable energy space. The company was recently awarded the largest solar project in India of 50 MW in a single location under the prestigious Jawaharlal Nehru National Solar Mission (JNNSM). Suzlon Group -subsidiary REpower Systems SE has concluded a contract for the delivery of 25 wind turbines of the MM92 type with US developer enXco - an EDF Energies Nouvelles company. The turbines will be used at the Shlloh IV wind farm, situated in Solano County, California. After completion, the wind farm will have a power output of more than 50 megawatts (MW). In 2008 and 2011 REpower delivered wind turbines for enXco's Shiloh II and Shiloh III wind farms.
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