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MARKET LIVE
December, 30th 2011

02:45 PM: Shares of Reliance Industries fell below Rs 700 per share for the first time since April 2007 on rising concerns refining margins pressure and decline in gas output from KG-D6 basin.

The stock was at Rs 695, down 2.51 per cent on the BSE. It touched a 52-week low of Rs 690.25 in trade so far.


02:30 PM: BSE Oil&gas Index was down 1.28 per cent, BSE Metal Index declined 0.84 per cent, BSE Realty Index slipped 0.79 per cent and BSE Bankex fell 0.74 per cent. BSE IT Index was up 0.36 per cent.


02:00 PM: The Bombay Stock Exchange's Sensex was at 15,465.73, down 78.20 points or 0.50 per cent and the National Stock Exchange's Nifty was at 4624.70, down 21.55 points or 0.46 per cent.


02:00 PM: The European markets have opened in the positive terrain taking cues from positive economic data from the US. FTSE 100 was up 0.23 per cent, DAX 30 gained 0.31 percent and CAC 40 moved 0.66 per cent higher.


01:30 PM: Gold would likely remain pressured in near term on dollar strength. However, technically speaking, it's now staying in key support zone of 1478.3/1577.40:Edeweiss Research.


01:15 PM: We advise not to go shorting for the first week of this series and there is high probability of pull back till or beyond 4900 levels," said Angel Broking report.


01:00 PM: Mahindra Lifespace Developers has approved additional borrowing of Rs 500 crore in one or more tranches by way of term loans/ debentures / working capital loans. The stock was at Rs 243.30, down 1.74 per cent on the BSE. It touched a high of Rs 264.50 and low of Rs 243.05 in trade so far.


12:45 PM: Power Finance Corporation, National Thermal Power Corporation and Rural Electrification Corporation are likely to launch medium to long-term infrastructure bonds in the first week of January to raise Rs 3000-5000 crore each. PFC was up 5.15 per cent, REC gained 3.55 per cent and NTPC edged 0.16 per cent higher.


12:30 PM: Oil marketing companies plan to raise petrol prices by around Rs 2.25 a litre from Sunday unless the government asks them to defer the move in view of assembly elections. HPCL was up 0.56 per cent, BPCL was down 0.99 per cent and IOC edged 0.02 per cent higher.


12:15 PM: State Bank of India has received a formal communication from the government assuring equity infusion of nearly Rs 6,000 crore over the next few months. The stock was at Rs 1642.95, up 0.98 per cent on the BSE. It touched a high of Rs 1649 and low of Rs 1633 in trade so far.


12:00 PM: The markets are approaching to major hurdle area 4750/4820 but the short term trend is still strong and no signs of reversal pattern on intraday charts. As the broader trend is down it will attract selling pressure around major levels:Kotak Securities.


11:45 AM: Shipping Corporation of India has sold a Handymax Bulk Carrier "m.v. Devprayag" and handed over its physical delivery to its buyer. The stock was at Rs 49.65, up 1.53 per cent on the BSE. It touched a high of Rs 50.30 and low of Rs 48.50 in trade so far.


11:30 AM: Greycells Education has entered into a strategic partnership with Canadian University of Dubai to promote events and media training courses in the UAE.


11:15 AM: Kemrock Industries has discontinued with 50:50 joint venture formed with SAERTEX Beteiligungsgesellschaft mbH", Germany, in view of the change in business plan of its partner. The said entity is now renamed as "Kemrock Aerospace India.

The stock was at Rs 506, down 0.66 per cent on the BSE. It touched a high of Rs 513.90 and low of Rs 502.10 in trade so far.


11:00 AM: LN Polyesters will hold board meet on January 06, 2012 to consider and approve sale of land, building, and part of the machinery located at Silvasa. The stock was at Rs 9.90, up 0.20 per cent on the BSE. It touched a high of Rs 10.05 and low of Rs 9.90 in trade so far.


10:45 AM: Balaji Telefilms has entered into binding business transfer agreements to sell its media education business and its mobile content production business for a consolidated consideration of Rs 8.37 crore. The stock was at Rs 33.75, up 0.75 per cent on the BSE. It touched a high of Rs 34.65 and low of Rs 33.75 in trade so far.


10:30 AM: Godrej Properties has sold 49 per cent shareholding in its subsidiary, Godrej Premium Builders, which is developing a project at sector 104 in Gurgaon, to Sun-Apollo India Real Estate Fund. The private equity fund has invested Rs 45 crore out of which Rs 18.3 crore has been paid to Godrej Properties for sale of stake.

The stock was at Rs 632.50, up 2.18 per cent on the BSE. It touched a high of Rs 639.25 and low of Rs 626.10 in trade so far.


10:15 AM: GTL has received letter of approval from Corporate Debt Restructuring Cell, Mumbai for restructuring of company's debt.

The stock was at Rs 38.10, up 2.42 per cent on the BSE. It touched a high of Rs 39.10 and low of Rs 37.30 in trade so far.


10:00 AM: Kobe Steel has finalised a 50:50 joint venture company with SAIL to set up a commercial plant for making iron ore nuggets. The project will come up at Durgapur in West Bengal and will use the Japanese steel maker's patented iron making technology.

The stock was at Rs 81, up 1.06 per cent on the BSE. It touched a high of Rs 81.40 and low of Rs 80.40 in trade so far.


09:50 AM: The rupee fell early on Friday as oil importers stepped up dollar buying, traders said. The rupee was at 53.14/15 to the dollar, marginally lower weaker than Thursday's close of 53.07/08.

09:45 AM: Bond yields were higher on Friday, the year's last trading session, as traders fretted the government might again increase its borrowing for the current fiscal year ending in March.

09:40 AM: The benchmark 10-year bond yield was at 8.56 percent, up 2 basis points from Thursday's close, when it had risen 6 basis points.

09:35 AM: BSE Mid-cap index gains 0.5%; BSE Small-cap index up 0.3%

09:30 AM: BSE Auto index gains 1.1%; BSE Realty index up 1.1%

09:25 AM: Shares of Tata Motors were trading 1.8% higher at Rs 182, top Sensex gainer

09:20 AM: BSE Sensex up 100 points led by gains in ICICI Bank, ITC and Infosys

09:16 AM: The Sensex opened at 15,590 up 45 pts and the Nifty has opened at 4,663 up 17 pts.

08:55 AM: US stocks rallied on Thursday after positive data on US home sales lifted investor sentiments. Italian bond yields eased after a debt auction however, the 10-year Italian bonds hovered near 7 percent, a level markets see as a danger zone for Italy's government debt.

08:50 AM: The Dow Jones industrial average shot up 135.63 points, or 1.12 percent, to 12,287.04 at the close. The Standard & Poor's 500 Index gained 13.38 points, or 1.07 percent, to 1,263.02. The Nasdaq Composite Index advanced 23.76 points, or 0.92 percent, to 2,613.74.

08:45 AM: Asian stocks nudged higher and the euro clung to overnight gains on Friday, the last trading day of 2011, helped by positive data from the United States.

08:40 AM: Japan's Nikkei 225 index was trading 0.3% higher at 8,428.56 and Hong Kong's Hang Seng index was trading higher at 18,470.12, up 0.4%. South Korea 's Kospi index was trading flat at 1825.59. China 's Shanghai index was trading at 2195.47, up 1%.

 
 
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