1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Thursday, February 23, 2012
Domestic Markets Snapshot Views on markets today
Name of Index Feb 21 Feb 22 Change (%) • Indian markets edged lower yesterday to reach their
Sensex 18,428.61 18,145.25 -1.54% lowest closing level in more than a week as weakness
CNX Nifty 5,607.15 5,505.35 -1.82% in European stocks triggered profit booking on the
domestic bourses after recent strong rally in share
BSE Mid-cap 6,604.34 6,375.69 -3.46%
prices. After opening near day’s high, the Indian
BSE IT 6,256.53 6,284.61 0.45%
markets turned lackluster before a sudden wave of
BSE Banks 12,838.84 12,348.87 -3.82% selling hit the indices in the afternoon trade ahead of
FII Activity (`Cr) F&O expiry. The market is now looking towards the
general budget and the RBI’s policy review, both due
Date Buy Sell Net
in mid-March, for any triggers. European markets
21-Feb 4,094 2,599 1495
edged lower after economic data suggested the euro
17-Feb 4,095 3,500 595 zone may slide back into recession, hurting the global
Total Feb 45,474 32,059 13415 economic outlook, while concerns about the
2012 YTD 98,413 73,917 24496 sustainability of the latest Greek bailout deal also
MF Activity (`Cr) weighed. The BSE Mid-Cap index tumbled 3.46% and
the BSE Small-Cap index shed 3.24%, both these
Date Buy Sell Net indices underperformed the main markets. Except IT,
21-Feb 634 972 -338 all sectoral indices closed on negative note with real
17-Feb 1,291 1,305 -14 estate, consumer durable, metal and bank stocks were
Total Feb 10,004 11,686 -1682 major losers. Kingfisher Airlines ended lower 5.98%
2012 YTD 20,425 23,962 -3537 after gaining in early trade after banking as sources
told that its lenders have not agreed to extend further
Volume & Advances / Declines loans to the debt-crippled carrier. Jet Airways India
NSE BSE closed down 9.17% and Spicejet down 8.89%, after
Trading Volume (Cr) 130.03 43.96 Bank of America Merrill Lynch retained its
Turnover (`Cr) 18,502 3,853 "underperform" rating on the two carriers. Bank of
America Merrill Lynch cited slowing traffic growth,
Advances 242 769
strong capacity addition by low-cost carriers and
Declines 1,293 2,208
insufficient growth in yields for being "negative" on
Unchanged 37 106 the sector. NTPC closed down 1.8%, after Deutsche
Total 1,572 3,083 Bank downgraded NTPC to 'hold' from 'buy', citing
Global Markets execution delays, challenges in coal logistics and
unanticipated policy changes as risks for the state-run
Index Latest Values Change (%)
company.
DJIA 12,938.67 -0.21%
• Market breadth was weak at ~0.35x as investors sold
NASDAQ 2,933.17 -0.52%
large cap stocks. On provisional basis, FIIs bought
Nikkei * 9,569.63 0.16%
equity of `8.29bn while domestic institutions sold
Hang Seng * 21,408.90 -0.65% equity of `13.33bn.
* as of 8.25AM IST
• Asian markets are mixed today as Japan rose to
Currencies / Commodities Snapshot positive territory while the Hang Seng is in negative.
Latest Previous
• We expect a cautious opening for the Indian markets,
Quote Close
as globally investors are on a profit taking spree.
Indian Rupee per $ 49.15 49.23
Indian Rupee per € 65.14 65.21 Economic and Corporate Developments
NYMEX Crude Oil($/bbl) 105.90 106.28 • The government has formally allowed local airlines to
Gold ($/oz) 1,774.70 1,770.00 import jet fuel directly, it said in a statement on
Silver ($/oz) 34.31 34.24 Wednesday, in a major policy move expected to bring
down costs for debt-laden carriers.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • DLF sold 350 flats worth about `500Cr in a luxury
Previous Current Change housing project in Gurgaon. The housing project 'The
Company Name
Close(`) Price(`) (%) Primus', which is part of a 450 acre integrated
Tata Comm 237.95 253.80 6.66 township - DLF Garden City, was launched yesterday
Coromandel Intl 267.90 276.40 3.17 and all the flats were sold on the same day.
Gitanjali Gems 393.75 406.15 3.15 • Kingfisher Airlines has to pay `40Cr dues in indirect
Sun TV Network 322.45 331.45 2.79 taxes by March 31, Central Baord of Excise and
Container Corp 989.35 1015.15 2.61 Customs (CBEC) Chairman S K Goel said.
(BSE Mid-Cap) • Tyre maker Ceat is planning to start a plant in
Bangladesh and is scouting for land for the same.
Previous Current Change
Company Name
Close(`) Price(`) (%) • Anil Ambani-led Reliance Communications signed
Tata Comm 237.95 253.80 6.66 final definitive agreements with three Chinese banks
Shree Global Trd 159.25 166.90 4.80 for refinancing its outstanding debts of about
Responsive Inds 98.85 103.00 4.20 `5,825Cr ($1.18bn) that were raised through foreign
IPCA Lab 319.10 330.40 3.54 currency convertible bonds (FCCBs).
Hindusthan Nats 183.55 189.95 3.49 • Hero MotoCorp, the world's largest two-wheeled
vehicle manufacturer, said on Wednesday it had
TOP LOSERS entered into a partnership with US motorcycle
(BSE A-Group) company Erik Buell Racing (EBR).
Previous Current Change US markets
Company Name
Close(`) Price(`) (%)
U.S. stocks on Wednesday retreated after a three-
Lanco Infra 23.45 19.50 -16.84
session winning run, as investors booked profits in the
United Spirits 665.85 570.90 -14.26 equities.
GMR Infra 32.60 28.85 -11.50
The Dow Jones Industrial Average fell 27.02 points, or
IRB Infra 208.90 186.40 -10.77
0.2%, to 12,938.67. The S&P 500 Index fell 4.55 points,
Voltas 114.65 102.65 -10.47
or 0.3%, to 1,357.66. The Nasdaq Composite Index
(BSE Mid-Cap) declined 15.40 points, or 0.5%, to 2,933.17.
Previous Current Change
Company Name
Close(`) Price(`) (%)
Lanco Infra 23.45 19.50 -16.84
VIP Inds 124.85 110.85 -11.21
IRB Infra 208.90 186.40 -10.77
Voltas 114.65 102.65 -10.47
GVK Power 19.70 17.65 -10.41
Keynote Capitals Institutional Research (research@keynotecapitals.net) (+9122-30266000)

3. K E Y N O T E
INSTIT UT IONAL R ES EAR C H
India and Global Economic Calendar
Countries / Thursday Friday Monday Tuesday
Regions 23/Feb 24/Feb 27/Feb 28/Feb
India Forex Reserves Data
Weekly Supplement
of RBI
US Jobless claims Reuters/ Michigan Pending Home Sales Durable Goods
Consumer Sentiment (MoM) Orders
Index
Housing Price Index New Home Sales (Jan) Consumer Confidence
Global UK BBA (British UK GDP (YoY & QoQ) Eurozone M3 Money Japan's National
bankers association (Q3) Supply (YoY) Consumer Price Index
)Mortgage Approvals (YoY)
UK Index of Services UK,s Mortgage Japan's National CPI
(3M) (Jan) Approvals Ex Food, Energy (YoY)
UK Total Business Germany,s Retail
Investment (YoY & Sales (MoM)
QoQ) (Q4)
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