Asian stocks rose on speculation Federal Reserve policy makers!

The Mumbai Stock Exchange stands tall, and is scaling new heights (Photo credit: Wikipedia)

Key benchmark indices held firm in mid-morning trade as Asian stocks rose on speculation Federal Reserve policy makers won’t announce any major changes to monetary stimulus when they conclude a meeting today, 30 October 2013. The US central bank currently buys $85 billion a month in US debt and mortgage-backed securities in a bid to hold interest rates low and encourage economic growth. Fed’s bond – buying program has been a source of liquidity for most Asian and emerging markets this year. The Sensex was up 43.92 points or 0.21%, up about 31 points from the day’s low and off close to 60 points from the day’s high.

Who Moved and Why

• Phoenix Mills gains after decent Q2 outcome.
• Talwalkars firms up after good Q2 results.
• Schneider Electric Infra drops as Q2 net loss widens.
• Jubilant Life Sciences jumps on strong outlook.
• Jai Corp jumps on better-than-expected Q2 earnings.
• Pidilite Industries strengthens after Q2 results.
• ALSTOM India drops after poor Q2 numbers.
• Bharti Airtel gains after Q2 results.
• Symphony spurts after stellar Q1 outcome.

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RBI is expected to raise the repo rate by 25 basis points!

Key benchmark indices edged lower on the first trading session of the week as the Reserve Bank of India (RBI) is expected to raise its main lending rate viz. the repo rate by 25 basis points after a monetary policy review tomorrow, 29 October 2013, on rein in inflation. The market breadth, indicating the overall health of the market, was negative. The barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, both, hit their lowest level in more than a week. The Sensex was down 113.24 points or 0.55%, off close to 200 points from the day’s high and up about 20 points from the days low.

The RBI Regional Office in Delhi. (Photo credit: Wikipedia)

Who Moved and Why

• Dabur India retracts from record high after strong Q2 earnings.
• Dabur India drops on profit booking after strong Q2 earnings.
• HOV Services hits the roof on buzz of SourceHOV sale.
• Ajanta Pharma hits record high after strong Q2 earnings.
• Shares of gold loan companies in demand.
• Neyveli Lignite drops after weak Q2 outcome.
•  Taj GVK Hotels drops after reporting net loss in Q2.
• Essel Propack jumps after strong Q2 earnings. 
• Bharat Gears hits the roof after stellar Q2 outcome.

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Investor sentiment was impacted by weakness in Asian and European stocks!

Key benchmark indices trimmed intraday losses in late trade. Investor sentiment was impacted by weakness in Asian and European stocks and trading in US index futures indicating a lower opening of US stocks later in the global day. The barometer index, the S&P BSE Sensex, closed at 20767.88, down 97.09 points or 0.47%, up 180.46 points from the day’s low and off 150 points from the day’s high. The market breadth, indicating the overall health of the market, was negative.

English: A montage of various Singapore images. (Photo credit: Wikipedia)

Who Moved and Why

1) GAIL jumps on likely relief from subsidy burden.
2) Strides Arcolab gains after tie-up with a Singapore based firm.
3) ACC declines after weak Q2 earnings.
4) Exide Industries slips after weak Q2 numbers.
5) Vascon Engineers gains after selling its investment in a firm.
6) TTML drops after denying merger talks with Tata Teleservices.
7) Welspun Corp gains after shareholders’ nod for demerger scheme.

Read detail analysis report here: – http://rrfinance.com/Reserch/Pdf/07-July/DMR/23rd_Oct_equity_closing_update.pdf

Related articles European Stocks Slip, Dollar Steadies (online.wsj.com)

Asian and European stocks rose on speculation the 16-day partial US government shutdown?

Key benchmark indices cut gains after striking fresh intraday high in late trade as Asian and European stocks rose on speculation the 16-day partial US government shutdown will curb economic growth in the world’s biggest economy and lead the Federal Reserve to maintain monetary stimulus to the US economy into 2014. In the foreign exchange market, the rupee was slightly lower against the dollar amid high intraday volatility after the Reserve Bank of India (RBI) said that its dollar window for oil marketing companies remains open, adding that any tapering would be done in a calibrated manner. The BSE Sensex closed at 20882.89 and 467.38 point up.

The old RBI Building in Mumbai (Photo credit: Wikipedia)

Who Moved and Why

1. Nestle India gains nearly 9% in three sessions.
2. Bharti Airtel gains after acquiring 100% in WBS.
3. Metal shares rise after strong Chinese data.
4. Volumes jump at Redington India counter.
5. Blue Star Infotech drops after weak Q2 results.
6. PVR firmly in the picture.
7. Brokerage ‘buy’ call lifts Sesa Sterlite.
8. Axis Bank gains over 3% in two sessions.
9. Aviation stocks take off on weak crude, strong rupee.
10. PSU OMCs in demand.
11. Sabero Organics Gujarat jumps after robust Q2 outcome.

Read detail analysis report here: – http://rrfinance.com/Reserch/Pdf/07-July/DMR/18th_OCT_equity_closing_update%20%281%29.pdf

Related articles- Asian Stocks Advance as Chinese Economy Grows Faster – Bloomberg (bloomberg.com)

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Index heavyweights ITC, RIL edge higher!

Intraday volatility continued as key benchmark indices trimmed gains after hitting fresh intraday high in mid-morning trade. The barometer index, the S&P BSE Sensex, was up 8.66 points or 0.04%, off close to 75 points from the day’s high and up about 85 points from the days low. The market breadth, indicating the overall health of the market, was positive.

Bajaj auto rickshaws in Adama, Ethiopia. (Photo credit: Wikipedia)

Who Moved and Why

• Castrol India inches up after strong Q3 earnings.
• MindTree slips after weak Q2 results.
• Bajaj Auto firms up after good Q2 results.
• HCL Tech declines on profit booking after strong Q1 earnings.
• TCS slips on profit booking after robust Q2 results.
• Citi India consumer loans grow by 7.4% at $7.1 bn in Q3.
• Coal India is not an expert in CBM exploration: Oil minister Veerappa Moily

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Firmness continued on the bourses in mid-morning trade!

Firmness continued on the bourses in mid-morning trade. The barometer index, the S&P BSE Sensex, was up 224.38 points or 1.11%. The market breadth, indicating the overall health of the market, was strong. The market sentiment was boosted by upward revision in revenue guidance from IT major Infosys, gains in rupee against the dollar, firm Asian stocks and provisional data showing that foreign funds remained net buyers of Indian stocks on Thursday, 10 October 2013. Asian stocks edged higher amid hopes US lawmakers will lift the debt limit and avoid a default

Infosys Mcity,Building number 5 (Photo credit: Wikipedia)

Who Moved and Why

1) Madras High Court stops SBI’s move to withdraw check-off facility.
2) RBI governor Raghuram Rajan’s initiatives may see public banks close valuation gap with private peers.
3) BTI payments to sell 30% to ICICI Venture.
4) After Walmart setback, government pins hope on Tesco to open shop in India.
5) Infosys hits 52-week high after raising FY 2014 revenue guidance.

Read detail analysis Report: – http://www.rrfinance.com/Reserch/Pdf/07-July/Mid%20Session/11th_Oct_Mid%20Session%20Update.pdf

Related articles Infosys shares surge over 7% on healthy Q2 results, guidance (news.in.msn.com)

Current repo rate,CRR,SLR,MSF,Bank Rate- by RBI!

What is Repo Rate?

Repo rate is the rate at which our banks borrow rupees from RBI. A reduction in the repo rate will help banks to get money at a cheaper rate. The current repo rate is 7.50% as on 7 Oct 2013, it is an instrument of monetary policy.

What is Reverse Repo Rate?

The rate at which bank RBI borrows money from commercial banks within the country, Current reverse repo rate is 6.50% as on 7 Oct 2013.

What is Cash Reserve Ratio (CRR)?

The amount of funds that banks have to keep with RBI is called Cash Reserve Ratio (CRR), Current CRR rate is 4.00% w.e.f .09-Feb-2013.

What is Statuary Liquidity Ratio SLR?

SLR (Statutory Liquidity Ratio) is the amount a commercial bank needs to maintain in the form of cash, or gold or govt. approved securities (Bonds) before providing credit to its customers. SLR rate is determined and maintained by the RBI (Reserve Bank of India) in order to control the expansion of bank credit. Current SLR Rate is 23 % w.e.f. 11-Aug-2012.

What is MSF?

Marginal Standing Facility (MSF) is the rate at which scheduled banks could borrow funds overnight from the Reserve Bank of India (RBI) against approved government securities. Current MSF Rate is 9.00% as on 7 Oct 2013.

What is Bank Rate?

Bank rate, is the rate of interest which a central bank (RBI) charges on the loans and advances to a commercial bank. Whenever a bank has a shortage of funds they can typically borrow it from the central bank based on the monetary policy of the country. Current Bank Rate is 9.00% w.e.f. 07-Oct-2013.

What is Base Rate?

The minimum rate below which commercial bank’s are not permitted to lend money to its customers, it is the minimum rate of interest that a bank is allowed to charge from its customers, Current base rate is in between 9.70%–10.25%.

Reserve Bank of India Lucknow (Photo credit: Wikipedia)

Indian stocks surged as US government’s partial shutdown!

Indian stocks surged today, 3 October 2013, on expectations that the US government’s partial shutdown could lead to the US Federal Reserve postponing tapering of monetary stimulus to the US economy. The rupee surged against the dollar. The market breadth, indicating the overall health of the market, was strong. Except BSE FMCG index, all the other sectoral indices on BSE were in the green. The BSE Sensex closed at 19902.07 and 384.92 point up.

English: Ashok Leyland Truck Modern New India (Photo credit: Wikipedia)

Who Moved and Why

• MOIL firms up after price hike.
• Sadbhav Engineering gains after receiving provisional completion certificate for 2 check posts.
• Jet Airways takes off on buzz of Sebi nod for Jet-Etihad deal.
• Zensar Tech gains after securing new orders.
• Steel Strips Wheels spurts after reporting record September sales.
• Cement shares jump on price hike report.
• Infosys gains after winning order.
• Ashok Leyland slips on weak September sales.

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Market Watch – Intraday volatility continued!

Intraday volatility continued as key benchmark indices recovered after trimming almost entire intraday gains in mid-morning trade as mostly higher Asian stocks supported domestic bourses. Capital goods Pivotal gained on renewed buying. State-run oil marketing companies (PSU OMCs) fell after announcing revision in fuel prices on Monday. A bout of volatility was witnessed in early trade as key benchmark indices slipped into the red after a firm opening triggered by higher Asian stocks. Key benchmark indices regained positive terrain in morning trade.

Cooper Tire & Rubber Company (Photo credit: Wikipedia)

Who Moved and Why

• HUL slips as Unilever sees slowdown in emerging markets.
• Unichem Lab drops after two block deals.
• Apollo Tyres declines after Cooper Tire shareholders approve sale.
• PSU OMCs decline after petrol price cut.
• Maruti Suzuki gains after good September sales.
• Shipping stocks track lower freight rates.

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