28 Feb 2008 :- Markets to open lower

Re is rising and dollar is falling. This is not good news for the IT sector but again Railways upgrade is seen to put it back on track. Lets wait and watch which way the investors swing.

And more bad news from US - Jan durable goods orders fell 5.3 percent so there are again fears of recession. To hell with this data, its not helping anybody. Bloody Indian Markets are just tracking the US and European markets. When the markets fall some analysts come forward and say 'oh! we are in a bear market' and the next day markets go up and suddently a new crop of analysts come up and say 'oh! this bear story is bullshit'. I see them more like cricket commentators who cannot predict upfront if the pitch is an easy or a difficult one. They always pass comments after things are done. Analysts seem to fall in the same category.

RK

Indian Stock Market and Business News - 28 Feb 2008

Sify
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IOC gets shareholders nod for BRPL merger with itself
The country's largest oil firm, Indian Oil Corporation, said on Wednesday the shareholders have approved the merger of its subsidiary Bongaigaon Refinery and Petrochemicals Ltd (BRPL) with itself

Gold scales to new peak of Rs 12,460, silver to 27-yr high
Soaring crude oil prices and falling dollar pushed gold to an all-time high of close to Rs 12,500 per 10 gram and silver to a 27-year record level of Rs 23,600 per kg on the bullion market today, enhancing its appeal as a hedge against inflation

Crude oil price moves above $102/bl
Crude oil price moved above $102 per barrel as the dollar fell to an all-time low against the euro, according to a report on the website of Bloomberg

Inputs costs, demand seen lifting India steel price
Rising costs of iron ore and other inputs as well as strong demand will likely push up Indian steel prices over the next six months, despite government attempts to contain them, industry officials and analysts said.

'No proof of rigging in RPower IPO'
The government has found no evidence of rigging in the Initial Public Offer of Reliance Power by the promoters or merchant bankers, the Rajya Sabha was informed on Tuesday.

The Economic Times
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Indian demand adding to US inflation: Fed official
Partly attributing rising inflation in US to growing demand in India and China, Fed Vice-Chairman said the Fed would focus on price stability and growth

'High dividend shares are smart investment'
Shares in cos with high dividend payouts are seen as good investment in the current depressed scenario as investors look to protect their capital

The Financial Express
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Railways upgrade may put IT sector back on track
The beleaguered Indian IT industry that is facing uncertainty from its largest market - the US - has found an ally in Union railway minister Lalu Prasad Yadav. On Tuesday, Lalu's over Rs 2,000-crore technology upgradation plan that he revealed in his Rail Budget has opened up a big opportunity for the Indian IT players to reap in some moolah from one of the world's largest employers

Tatas woo Corus staff with tolerance
'Tolerance of difference and localisation' has become the motto for the Tatas as they began integration of close to 40,000 Corus steel workers at four sites in the UK with Tata Steel

Re rises on dollars drop versus euro; bonds gain
The rupee closed at the highest level in more than a week, on speculation investors sold the US currency, after its slide to a record low against the euro.

Infosys develops tool to improve agri supply chain efficiency
Indian IT major Infosys Technologies has developed an information and communication technology-enabled application to help small farmers integrate their business with large retailers and improve efficiencies in agro supply chain.

International News
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CNN : Dollar slides to record low
Oil down after surging to new record

Yahoo: Japan stocks sink on strong yen, weak output data (at Reuters)

Reuters:
Dollar stays near record low beyond $1.50 to euro
The dollar hovered near record lows versus the euro as a sharp drop in durable goods orders and home sales fueled recession concerns while Federal Reserve Chairman Ben Bernanke signaled a readiness to cut interest rates again

Bernanke says Fed prepared to help U.S. economy
Federal Reserve Chairman Ben Bernanke on Wednesday signaled a readiness to cut interest rates again to prevent further damage to the weak U.S. economy, even as he took note of rising inflation risks

Jan durable goods orders fell 5.3 percent
New orders for long-lasting U.S.-made manufactured goods fell by 5.3 percent in January, the biggest drop in five months and more than analysts expected, and a key gauge of business spending also declined, a Commerce Department report showed on Wednesday


RK
RentalAndRealEstate.com

Indian Stock Market Tips, Recommendations from various Analysts

Some of the recommendations from the analysts. Use discretion and your own analysis before you can act on any of them

Source : Rediff

Broking house	Company	Action	Date	Price (Rs)
Kotak PCR	+ Provogue (India)	Buy	Feb 26, 08	1,360.00
ICICI Sec	+ Aventis Pharma Ltd.	Buy	Feb 26, 08	1,197.00
Emkay research	+ Welspun Gujarat	Buy	Feb 26, 08	608.00
Deutsche Bank	+ Axis Bank Ltd.	Buy	Feb 25, 08	1,325.00
HDFC Securities	+ Alstom Projects Ind.	Buy	Feb 25, 08	1,079.00
Karvy	+ Aventis Pharma Ltd.	Market performer	Feb 25, 08	1,025.00
ICICI Securities	+ Entertainment Networ	Buy	Feb 25, 08	652.00
Emkay Research	+ HCL Technologies	Buy	Feb 25, 08	384.00
DSP Merrill Lynch	+ Hexaware Technologie	Buy	Feb 25, 08	125.00
Motilal Oswal	+ Sun TV Network Ltd.	Neutral	Feb 25, 08	-
UBS Investment Research	+ Idea Cellular Ltd.	Outperformer	Feb 25, 08	-
UBS Investment Research	+ Bharti Airtel	Outperformer	Feb 25, 08	-
Angel Broking	+ Wockhardt Ltd.	Buy	Feb 22, 08	630.00
HEM Securities	+ Indian Hotels Co	Buy	Feb 22, 08	182.00
Prabhudas Lilladher	+ ABB Ltd	Outperformer	Feb 21, 08	1,525.00
Emkay research	+ Allcargo Global Logi	Accumulate	Feb 21, 08	959.00
Pinc Research	+ Shriram Trans.Fi	Buy	Feb 20, 08	520.00
Hem Research	+ Hotel Leela Ven.	Buy	Feb 20, 08	85.00
Prabhudas Lilladher	+ UTV Software Commun.	Buy	Feb 20, 08	-
Sharekhan	+ L & T	Buy	Feb 19, 08	4,428.00
Prabhudas Lilladher	+ Fag Bearings Ind	Outperformer	Feb 19, 08	676.00
Networth Stock Broking	+ Garware Offshore Ser	Buy	Feb 19, 08	368.00
Hem Research	+ Ramsarup Industries	Buy	Feb 19, 08	300.00
Emkay PCR	+ Jyoti Structures	Buy	Feb 19, 08	292.00
Emkay research	+ Seamec Ltd.	Buy	Feb 19, 08	240.00

HPCL has a price target of Rs 380 and is a good buy at current levels, says Anil Maghnani, technical analyst, on CNBC-TV18. In BPCL, it is advisable to book profits at current levels and Nalco is likely to go to Rs 490 towards F&O expiry on Friday, he adds

SAIL is a buy on any fall, if it crosses Rs 250 it can go to Rs 262 and then at Rs 293, says Anil Maghnani, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 245, up 2.57% on the BSE

Sharekhan has a target price of Rs 552 for Wockhardt, reports NDTV Profit

Gujarat NRE Coke has a 15-20% upside in 6-8 months, says Gaurang Shah of Geojit Financials, on NDTV Profit.

CLSA sees an 80% upside in 1 year for Jaiprakash Associates, reports CNBC TV18

Angel Broking has put a buy rating on Vesuvius India with a target price of Rs 320, reports NDTV Profit.

ICICI Securities has put a 'buy' rating on ENIL with a target price of Rs 652, reports CNBC Awaaz.

Hot News : REL mulls share buy back

You find the complete news report below but what the heck is Mr. Anil Ambani doing? Does he wants to be in the media limelight all the time or is he restless that his company shares are trading well below their worth? I believe he is doing too many things too soon. Not good!! RK RentalAndRealEstate.com Source : Business Standard Board meeting on March 5 to consider the proposal.

The Anil Dhirubhai Ambani group-promoted Reliance Energy Ltd (REL) has proposed a buyback of its shares.

The management has not stated any particular objective for buyback, but a press release said it has convened a board meeting on March 5, to consider the proposal.

The move comes just two days after Reliance Power, another group company in which REL owns 45 per cent, offered bonus shares to its shareholders in the ratio of 3:5.

According to industry watchers, one reason for the buyback could be to keep the share price from falling. The REL stock has lost about 36 per cent from its peak of Rs 2,631.70 in January and it currently trades at Rs 1,697.25.

Typically, managements initiate a buyback if they believe their companies’ shares are undervalued and that the market price does not reflect the fundamentals. By supporting the stock price at a certain level, the company can absorb any selling by investors, they point out.

Buyback options, however, require spare cash. The company’s reserves and surplus were approximately Rs 9,000 crore at the end of March 2007.

Going by the market regulator’s rule that companies can invest up to 25 per cent of their reserves on share buybacks, the amount spent on acquiring the shares could be in the region of Rs 2,250 crore.

The Rs 6,575-crore power utility was sitting on cash and cash equivalents of approximately Rs 7,500 crore, according to the balance sheet for March 2007.

REL had consolidated cash and bank balances of Rs 2,226.33 crore and quoted investments of Rs 4,446.33 crore, the market value of which is mentioned as Rs 4,550 crore. It also has some additional investments.

However, the cash and cash equivalents could be higher at about Rs 10,000 crore, as at the end of December 2007, assuming some infusion of funds by the promoters and a rise in the value of investments.

REL’s paid-up equity as of March 2007 is Rs 228.57 crore and has increased to Rs 236.53 crore as on February 4, 2008, with the conversion of some foreign currency convertible bonds (FCCBs) into shares.

REL’s subsidiary, Reliance Power, raised about Rs 11,000 crore through an initial public offer last month at a price of Rs 450 per share and Rs 430 per share for retail shareholders.

The promoter and promoter group hold 34.68 per cent in REL, with the majority 34.04 per cent with Anil Ambani’s AAA Project ventures Pvt Ltd.

While Anil Ambani’s personal holding is just 0.06 per cent (139,437 shares), his son Jai Anmol A Ambani and wife Tina Ambani hold 0.05 per cent each, according to the shareholding information given to the stock exchanges as in December 2007. Institutional investors hold 44.74 per cent in REL.

While announcing the bonus shares for Reliance Power, Anil Ambani had said he would transfer 2.6 per cent of his personal holdings in Reliance Power to REL, worth Rs 4,200 crore.

This move was to allay concerns that the shareholders of REL would suffer because the bonus issue was restricted only to non-promoters of Reliance Power.

Recently, fast moving consumer goods major Hindustan Unilever completed its buyback of shares, spending Rs 626.28 crore picking up and30 million shares at an average price of Rs 207.13 per share.

Indian Stock Market News - 27 Feb 2008 : Another good day ahead!

Recently, Indian Markets are having good day only if US markets had one. Today wont be any different. US had a good day so we will too.

News Round up

MoneyControl
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Mkts need time-based correction: Kotak Sec
'Lack of triggers keeping investors away'
Use every dip to buy for invest: Baliga

Sify
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Tata preparing to sign Jaguar deal early March
Tata Motors Ltd is all set to sign a landmark deal to take over two iconic British automobile brands, Land Rover and Jaguar, from US carmaker Ford Motor Co early next week.

Pfizer introduces antismoking drug in India
City-based $172-million Pfizer India Ltd, part of US pharmaceutical multinational Pfizer Inc, Tuesday launched the Varenicline prescription drug in India that helps smokers to kick their nicotine addiction

Bharti Airtel to set up undersea cable linking US with Asia
Telecom giant Bharti Airtel on Tuesday said it would set up a new undersea cable linking the United States with Asia in partnership with five global telecom firms.

The Financial Express
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Wheat breaches $12 for first time after biggest gain since 02
Chicago wheat prices rose by the most in more than five years, breaching $12 a bushel for the first time as investors poured money into agricultural commodities on signs that global crop production isn't keeping pace with demand.

Re rises a second day; bonds fall ahead of Budget
The rupee advanced a second day, on speculation overseas investors will add to their holdings of local equities as the benchmark stock index extended gains.

REL plans share buyback; board to decide on Mar 5
Anil Dhirubhai Ambani Group company Reliance Energy Ltd announced a move to buy back its own shares. A meeting of the company's board of directors will be held on March 5 to consider the buyback, among other issues.

Nod to short selling by institutional investors
Just a few days before presenting the Budget, finance minister P Chidambaram has finally given the go ahead to short selling by institutional investors by clearing issues on its taxation.

The Economic Times
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Pfizer, Novartis and Merck test negative in India
Pharma giants like Pfizer, Novartis and Merck have seen their market capitalisation erode over the last three years, as sales started to witness marginal growth.

Maruti to kick off price war with diesel Dzire
The diesel sedan market is likely to witness a price war with Maruti Suzuki India Ltd all set to launch one of the cheapest diesel sedans in the domestic market


RK
Rental And Real Estate Classifieds and Social Network
http://yourmitra.wordpress.com

Indian Stock Market News - 26 Feb 2008 : Indian Markets will trade in postive today

US, Canadian, European markets have closed higher. Asian Markets have opened higher. Indian Markets will open higher and should trade in the positive at least till European Markets open. If Europeans are positive then we should end the day in the green.

I have few shares of Infosys, the stock price has just about reached the buy price. Since the Rupee has risen I am not sure if the IT stocks will keep rising or fall a little. Will wait for today before deciding to sell or hold.

RK
RentalAndRealEstate.com - Rental and Real Estate Classifieds and Social Network
http://yourmitra.wordpress.com

Market news round up:-

Sify
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Rupee rises on exporter sales

RIL, Reliance Cap among Asia's 20 best for future investors
Seven Indian firms, including Reliance Industries and Reliance Capital from the two Ambani groups, have been named among Asia Pacific's 20 best companies in terms of expected investor returns over next five years

Cash squeeze dampens investor appetite
Rising costs due to a cash squeeze in the banking system have dampened investor appetite for fresh investments leaving existing corporate debt issues floundering, forcing borrowers to privately place bonds with pension funds

BSE to take 26% stake in commodity exchange
Bombay Stock Exchange Ltd (BSE), oldest stock exchange, has agreed to buy a 26 per cent stake in Ahmedabad-based National Multi-Commodity Exchange of India (NMCE), as it looks to diversify and get a slice of the commodities boom in India

The Financial Express
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Merged entity to get Rs 3,900 cr capital infusion from HDFC
In a major sweep, post merger of two private banks, HDFC Bank and Centurion Bank of Punjab, the sheer size of the new balance sheet of Rs 1,50,000 crore will take the entity to higher pedestal on the global front.

HSBC, StanChart in race for YES stake
At least two of the world's top five banks have evinced interest in picking up a stake in YES Bank, a fast-growing private sector bank.

Tatas to double China revenues
The Tata group's investment plans in Bangladesh may have hit a rough patch, but it is steadily gaining a foothold in China. Despite growing competition from local companies, Tata expects to double revenues from China-primarily from TCS and Tata Steel-to $600 million this year.

Dropping dollar peg would ease Gulf inflation:Greenspan
Former Federal Reserve chairman Alan Greenspan said near-record Gulf Arab inflation would fall "significantly" were the oil producers to drop their dollar pegs, in contradiction to Saudi policy

US economy may skirt recession, but growth is all set to crawl
The US economy will likely avoid a recession but growth will slow to a crawl during the first half of this year, a panel of business economists forecast.

The Economic Times
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Techies may tighten purse strings over US slowdown
If IT companies become careful with increments and promotions, employees may have to scale back planned investments.

Rising inflation in Gulf affect Indians
The disparity was most pronounced in Qatar, with a perceived average cost of living spike of 38%, 22% higher than salary increases.

International News
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Goldman sees $1-$12 bln writedown for large-cap brokers in Q1
Goldman Sachs said it expects additional writedowns of about $1 billion to $12 billion each for several U.S. large-cap brokers in the first quarter, with Citigroup estimated to record the highest amount of about $12 billion

US dollar firms slightly on home sales data
The US dollar on Monday firmed slightly on better than expected US home-sales figures, but persistent concerns about the US economy still weighed on the greenback, dealers said

Wall Street shares surge as Visa unveils IPO bid
Wall Street shares surged on Monday as Visa Inc., the world's largest electronic payment processor, said it was planning an initial public offering (IPO) aimed at raising a hefty 18.8 billion dollars

Greenspan backs sovereign funds investing in US
Former US Federal Reserve chairman Alan Greenspan said on Monday that opposition to investments by Gulf and Asian sovereign wealth funds in the United States did not serve US interests

Visa plans IPO aimed at raising over US$18b
Visa Inc., the world's biggest electronic payment processing company, announced on Monday it was planning an initial public offering (IPO) in the United States, saying it hoped to raise over 18 billion dollars

Indian Stock Market News - 25 Feb 2008 : Expect higher opening with other Asian Markets opening in positive

Weekend News round up is below. The one big news was the issue of bonus shares by Reliance Power in the ratio of 3:5 and the other news being Anil Ambani crying foul over the hammering of the Reliance Power shares on the first trading day. He seems to think there is a conspiracy behind it. I will do the same if I were him, People invested in Reliance Power because of the Ambani name tag and have lost faith and money once it got listed. So its a black mark for him and the next time there is a IPO from him there will not be such a enthusiasm

Anyhow, the Indian markets should open higher following the global cues ( as analysts say). But how the week shapes up is anybody's guess. I am planning to sell off those companies which I think are over-valued on every rise and may buy other good stocks at a lower prices. What to do I was also greedy in going for the stocks that were riding the wave. Bought them at a high price and they are now 10-20% down.

Sify
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Govt asks ICAI to prepare report on IPO valuation
In the wake of controversy relating to valuation of public issues, the government has directed the apex body of chartered accountants, ICAI, to conduct a study on the initial public offer pricing and suggest ways for protecting the interest of investors.

50% of malls may shut down by '10, hype to go
Consolidation in the retail industry would result in nearly 50 per cent of the malls shutting down by March 2010 and the hoopla surrounding the sector would considerably subside by then, a brand expert has said.

The Financial Express
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Anil adds 3:5 Power to shares
In an attempt to compensate investors for the poor listing of its shares, Reliance Power proposed an issue of free bonus shares to all investors, excluding the promoters, in the ratio of 3:5. This apart, the promoter and chairman of the company, Anil Dhirubhai Ambani, announced a voluntary contribution of 2.6%

Anil insists Sebi probe into RPower stock hammering
Anil Ambani, promoter and chairman of Reliance Power Ltd reiterated his demand for an investigation by the capital market regulator Securities and Exchange Board of India into the hammering of the RPower stock following its listing on the bourses on February 11

Economic Times
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Budget is the key event for market watchers
Market watchers are hoping for some positive measures from the finance minister as market analysts are expecting that the Budget might cut corporate income tax

Rel Power bonus issue cuts losses by 40%
The Board at its meeting approved a bonus issue wherein 3 shares would be allotted for every 5 held by the non-promoter shareholders. Special: Reliance Power IPO

India riding an optimism bubble
From capital markets to cricketers, real estate to HR, every asset category seems to be trading several times above fair value

India Inc's business confidence rises by 5.4%
If the positive sentiment persists despite the turmoil in the capital market, corporate earnings may be back on track in the coming quarters.

NSE deactivates 372 F&O terminals in Jan
Terminals of 372 members in the futures and options segment were deactivated for a day during January due to margin payemnt failure.


International Markets
------------------------------------------------------------------------------------------------
Japan stocks up over 2 pct, subprime worries ease

Singapore share prices opened higher Monday, following Wall Street's rally on Friday

As China's factory floors feel the pressure from spiralling costs, there is growing nervousness in the rest of the world that the Asian giant's next big export could be inflation


RK

RentalAndRealEstate.com - Rental and Real Estate Classifieds and Social Network

http://yourmitra.wordpress.com

22 - Feb - 2008 : Indian Markets will open lower

Markets are down! This is now a usual happening. There is no point in tracking them anymore but that does not stop me from gathering the market related news

Sify

Gold glitters at Rs 12,215, silver reaches 27-year high:
After breaching the crucial 12,000 mark yesterday, gold prices surged further to set a new record of Rs 12,215 per 10 gram in the bullion market here today.

Nine infrastructure companies booked for evading import duty:
Nine infrastructure firms having their interests in road building have been booked by the Customs authorities for allegedly evading import duty totaling Rs 20 crore on heavy engineering equipment.

Investors forum demands probe into recent market crash:
The Investors Grievances Forum has demanded a probe into the market crash of January 22 and sought explanation from valuers of IPOs which hit the market in January

India to invest $2.5 b in SBI rights shares:
The Indian cabinet on Thursday approved a government proposal to invest Rs 9996 crore ($2.5 billion) in the rights share offering by State Bank of India, the country's biggest lender, a spokeswoman said.

Rupee climbs on strong capital inflows, exporters
The rupee held onto to early gains on Thursday, driven higher by exporters selling dollars and inflows of overseas capital into the stock market, dealers said.

The Financial Express

Broking firms see 400% leap in online trading value
The number of investors opting for online trading has gone up manifold, according to the recently published 'India's Leading Equity Broking Houses, 2008' by Dun & Bradstreet

IT majors on a hiring spree at lower salary
Reduced variable pay and increase in the number of fresh recruits to the total workforce are among the major factors that have led IT majors to hire more at lower pay scales.

Sugar price may rule lower on higher supplies, dull demand
Sugar spot and futures prices in the domestic market may rule lower in the next few days as supplies by sugar mills have increased considerably amid sluggish demand.

The Economic Times

Govt should allow 100% FDI in single brand retail
The govt should think about allowing 100% FDI in single brand retail trading and introducing multi brand retail trading in a phased manner.

'25% public holding may drive out IPOs'
Mkt may witness huge flow of public issues if proposal for listed cos to maintain 25% minimum public holding is implemented, Assocham has said.

Markets may fall further: Goldman Sachs
Goldman's analysts said that retail investors have been a key driver of the market's strong rise between August 2007 and January this year

World News:

Dollar drops on weak US economic data
The dollar dropped against other major currencies Thursday after another set of weak US economic data added to concerns that the world's largest economy risks falling into recession

Oil prices ease off record highs on strong US supply build
World oil prices slid back from two days of record peaks Thursday after a stronger-than-expected rise in US crude-oil reserves damped supply jitters.

US stocks tumble as economic fears mount
US stock markets tumbled Thursday as lackluster economic news renewed fears that the world's largest economy is sliding into recession

US economic gauge weakens
A key forward-looking US economic gauge posted a decline in January for a fourth straight month suggesting "weak growth" ahead for the world's largest economy, the Conference Board said Thursday.

Wall Street sinks on energy's slide and recession worry
Stocks fell more than 1 percent on Thursday as bulging oil inventories deflated energy shares and the weakest reading on mid-Atlantic manufacturing since 2001 added evidence the economy was in recession.

Starbucks cuts 600 jobs amid stagnant U.S. growth
Starbucks Corp said on Thursday it would eliminate 600 jobs as it works to turn around stagnating U.S. coffee shops in the face of a weak economy.

Lehman Brothers to cut 200 jobs: report
Lehman Brothers Holdings Inc is cutting 200 jobs, equivalent to 10 percent of its investment banking staff, CNBC television reported on Thursday.

RK
RentalAndRealEstate.com - Singapore Rentals and Real Estate Social Network

21 - Feb -2008 : Indian Stock Markets will open higher today

US closed positive, Asian Markets as good followers are doing what they were supposed to do. And Indian markets being different will open higher

That said, here is the some of the important news items

MoneyControl

Sensex could bottom out around 16K levels: Experts

Maintain a range in mkts for next 3-6 months: Kotak Sec

Direct tax rate cut may spur mkts: ICICI Pru Life

Fed may cut rates by 50 bps in March: JP Morgan

Mkts to be rangebound till Budget: Dipan Mehta

Rupee falls to 40/$ mark, tech stocks gain

Business Standard

Wall St rallies led by technology stocks

SBI, Canara cut rates again

FII-TO-FII TRADES: SBI traded at 12% premium

FIIs net sell Rs 266cr, DIIs net buy Rs 256cr

Economic Times

Lack of confidence keep markets in red
Global cues may have been the trigger, but the underlying uncertainty kept markets in the red.

Recently listed stocks fall below offer price
Many recent offerings which listed at premiums are now trading at a discount to their offer prices

Nano trial production at Singur to start by July
Tata Motors MD Ravi Kant said within two months of trial production, commercial production of the car would begin in the second half of FY-09

The Financial Express

REL bags Mumbai sea-link project
The Anil Ambani-controlled Reliance Energy Ltd has outbid Mukesh Ambani-run Reliance Industries Ltd for the Rs 4,000-crore Mumbai Trans Harbour Project. The Maharashtra State Road Development Corporation selected the REL-Hyundai consortium, which quoted a concession period of 9 years 11 months, over the RIL-promoted SKIL Infrastructure-IL&FS-John Laing consortium's 75 years

Tata Steel puts Corus integration on the fast track
Tata Steel and Corus, which revved up their integration plan, have already started discovering the benefits in several areas of research and steel-making

Rupee falls to 5-month low; bonds fall most in 3 wks
The rupee fell for a fourth day, its longest losing streak since November, on speculation the currency's decline prompted companies to increase purchases of foreign currency needed to pay for imports.

Sify

Low demand, high fuel prices ground airline profits
When the air traffic in December (Christmas and New Year traffic) saw the lowest growth over the last few years of around 15 per cent, airlines were more than taken aback

P-note restriction puts SEBI in driver's seat
The former Securities and Exchange Board of India (SEBI) chairman M Damodaran, in his own inimitable style, once explained how things get done in India with the analogy of the booming aviation sector

1% brokers tot up 80% of turnover

Reuters

Wall Street rallies on optimism about rate cuts
Stocks rose on Wednesday as a strong profit outlook from Hewlett-Packard Co lifted technology shares and the Federal Reserve signaled its intention to keep cutting rates.

Fed cuts growth forecast on housing, credit strain
The Federal Reserve said on Wednesday it had lowered its growth forecast for 2008 to between 1.3 percent and 2 percent due to the deepening housing contraction and tight credit, and said risks of further setbacks are troubling

Wal-Mart to source more IT activities from India
Wal-Mart Stores Inc said on Wednesday it would increase technology activities in India, as it seeks to expand its remote sourcing model.

CNN

Stocks stage rally
Stocks jumped Wednesday as investors welcomed the Federal Reserve's stance that the economy can avoid a recession, despite slower growth, rising unemployment and more pricing pressures

Oil surges to record above $101
Oil prices blew past the previous intraday record Wednesday, topping $101 a barrel as traders ignored signs of a faltering economy and focused on higher stock prices and the risk of inflation

Channel NewsAsia

Wall Street shrugs off record oil prices
US stock markets ended higher on Wednesday as investors snapped up bargain-priced shares and appeared to shrug off a jump in oil prices to a record high above 101 dollars a barrel, traders said.

Oil prices hit record US$101.27
New York oil prices struck a record 101.27 dollars a barrel on Wednesday amid renewed global supply jitters, analysts said.

Fed slashes half point off 2008 US economic growth forecast
The Federal Reserve on Wednesday slashed its 2008 growth forecast for the US economy by a half percentage point to a rate between 1.3 to 2.0 percent, citing the housing slump, tight credit and higher oil prices

RK
Rental And Real Estate Classifieds

20 - Feb -2008 : Another bad day in offing

US markets closed in negative and Asian markets following the trend today morning

EconomicTimes

Budget-bound market stays afloat
Online volumes plunge as net traders log off
Realty sector to see a jump of 25% in 2008 salary
Populist budget amid inflation: Religare
IT revival seen in 6 months: Everest Group

Sify

Airlines see dip in growth in January
Crude oil import bill jumps over 29%
Rupee drops to 5-month low on dollar shortage
India manufacturing capacity down in some sectors: FICCI
Gold rises further on strong global cues

The Financial Express

REC IPO: gone in no time
Citigroup sells Japan HQ to Morgan Stanley
Credit Suisse reveals $2.85 bn writedown
Barclays raises its writedown to $3.1 bn
Re declines on speculation, bonds fall for third day

New York Times

Toshiba Quits HD DVD Business

CNN Money

Wall Street at risk for $30B in bond insurer crisis

Reuters

Oil hits record over $100 on OPEC supply concerns
Tax rebates to boost U.S. growth: Gutierrez
Fed's Stern says rate cuts should protect economy

ChannelNewsAsia

Survey predicts Australian growth to slow in late 2008
Wall Street rally slips on oil record

RK
RentalAndRealEstate.com - Real Estate Social Network and Classifieds

19 - Feb -2008 : Indian Stock Market News Round up

Here is the regular round up of the important news from various financial websites and papers

Sify

Rupee falls on oil payment, global concerns
Indian IT industry unlikely to witness downturn: Gartner
‘Probe into Jan 22 market crash if concrete evidence found’

IBN Live

Anil's offer of bonus shares brought share 7 pc up
Market speculation beyond permissible levels

Economic Times

Emerging Markets Management is bullish on IT cos
After cheapest car, Tata to make air-car
Aggressive pricing spoilt IPO market: Survey



RK

RentalAndRealEstate.com - Rental and Real Estate Classifieds

Reliance Power bonus news - Why is it required?

Is Mr. Anil Ambani's ego behind the issue of bonus shares? Or do they really care for the people who trusted in their IPO?

He had no reason to do this but its a welcome gesture irrespective of motives behind it. It will benefit all the investors who lost money on the first day of trading.

RK
RentalAndRealEstate.com - Rental and Real Estate Classifieds and Social Network

Blame yourself every time a market expert fails you

Interesting article by Vivek Kaul/ DNA MONEY that I came across on Sify. Re-posting as it is.

The Sensex has fallen by 10.8 per cent since the beginning of this year. Experts who till two months back saw no wrong with the up and away Sensex, and were predicting it will continue to go up, can now be seen on news channels saying "I told you so" on the fall.

Fact is, most of them really don't know what they are talking about.

As Fred Schwed Jr writes in Where Are the Customers' Yachts? or A Good Hard Look at Wall Street, "Deep thinking continues to be, as ever, mostly second guessing."

The book was first published in 1940, and remains relevant even today.

Schwed writes, "But is it surprising that no one of them is ever quite right? The best explanation is that some of them don't know what they are talking about; and those who do know, don't tell all they know, or don't permit themselves to believe all they know."

So, why try and predict something that is largely unpredictable?

Well, there are several reasons. For one, "It seems that the immature mind has a regrettable tendency to believe as actually true that which it only hopes to be true. In this case, the notion that the financial future is not predictable is just too unpleasant to be given any room at all in the Wall Streeter's consciousness. But, we expect a child to grow up in time... This, however, is asking too much of the romantic Wall Streeter - and they are all romantics, whether villains or philanthropists. Else, they would have never chosen this business, which is a business of dreams. But the ultimate dream they almost never shed: that there is a secret, meaningful and predictable, in the rise and fall of financial enterprises - that a "close study" of this and that will prove something; that it will tell the initiate when there will be a rally and give the speculator a better than even chance of making a killing," writes Schwed.

Also, most investors like to know where the stock market is headed to. And this is where the so called "stock market" experts come in, to fulfil an inherent need.

Schwed writes, "For one thing, customers have an unfortunate habit of asking about the financial future. Now, if you do someone the signal honour of asking him a difficult question, you may be assured that you will get a detailed answer. Rarely will it be the most difficult of all answers - "I don't know.""

And at times, the "cock and bull" story these experts come up with is largely to generate more business for firms they work for. "On the economic side there is no denying that the more financial predictions you make, the more business you do and the more commissions you get. That, we all know, is not the right way to act at all. But I doubt if there are many, or any, Wall Streeters who sit down and say to themselves cool, "Now let's see. What cock-and-bull story shall I invest and tell them today"... The broker influences the customer with his knowledge of the future, but only after he has convinced himself," writes Schwed.

The other kind of prediction maker is the chartist or the technical analyst, as they are popularly known these days.

Schwed writes, "He arms himself with a chart (the simplest sort of graph) which depicts the ups and downs in price of the market as whole or of a commodity. This he studies, well away from the news ticker. It is his claim that he can discern in this jagged pattern of behaviour, which reproduces itself, and that certain of the peaks, valleys, and wobbles tell him when it about to do it again."

18 - Feb -2008 : News and Views

News Reports

Sify

Short-term call: Markets may have bottomed out
Market may see a bout of upward movements
Equities headed for a tradable bounce
Blame yourself every time a market expert fails you
Reliance Power proposes bonus shares to non-promoters
India among top three global realty markets

Financial Express

FIIs equity exposure falls, but their numbers rise sharply in 08
A career in investment banking proves to be a popular choice
Markets dont decide prices; the fundamentals do

Economic Times

R Power bonus proposal to drive market today
FM may clear $5 bn fund for India Inc's M&A play
Rel Power demands SEBI probe in IPO blues
Real estate funds good for small investors

Yahoo Finance

GLOBAL MARKETS-Stocks firm despite weak economic data (at Reuters)

Reuters

Asian shares may shudder at consumer chill

RK
Rental and Real Estate Classifieds

15 - Feb -2008: How the day ended and what were the analysts opinions today?

Indian Stock Markets showed some resilience and closed higher. It must have come as a surprise to many since most of the Asian markets were down and US and European markets had closed negative yesterday. Sensex closed at 18,115, up 348 points and Nifty at 5302, up 100 points.

Here is the collection of Analysts views from today

Global factors seem to be impacting sentiments on the market and liquidity is being determined by Asian markets, says Dipan Mehta, BSE/NSE Member, on CNBC-TV18. The market is seeing negative FII flows and unless the FIIs return on a consistent basis, one cannot say that the worst is over, he adds

The market may see a slight fall on Monday or Tuesday so investors need not feel they have missed the bus, says Anil Maghnani, technical analyst, on CNBC Awaaz. Nifty has resistance at 5267 and it could see a correction from there, he adds

he confidence is slowly returning to the market and as long as Nifty trades above 5050 it is a good sign, says PK Agarwal of Bonanza Group of Cos, on CNBC TV18

It is still too early to say if all the bad news has been flushed out of the market, says Anshu Jain, head of global markets, Deutsche Bank, on NDTV Profit. The market still looks in poor shape and there is some downside left on credit and equities, he adds

It is still premature to celebrate and think the worst is over for the market, says Narayan Ramachandran of Morgan Stanley, on CNBC TV18. Though India's long-term story looks strong, the current rally seems more on account of short covering, he says. This rally cannot be termed the beginning of a new bull run yet, he adds

Fuel price revesion will take inflation well above 4%, says Shubdha Rao, Chief Economist, Yes Bank, on NDTV Profit. One can expect inflation to hover around 4.5-4.6% in March, she adds. There could be a rate cut in April or June-July period, she says. There needs to be a balancing act between growth and inflation, she says

Inflation risks in India are on the upside and it can up to 4.5%, says Chetan Ahya, Executive Director, Morgan Stanley, on CNBC-TV18. Demand side risk to inflation is low, but one is seeing supply side pressure, he adds. Risks to inflation in India is more from the global side, he adds.

nterest rates need to go down to revive the consumption story, says Chetan Ahya, Executive Director, Morgan Stanley, on CNBC-TV18. In fact, 125 bps cut in interest rates is needed from the RBI, he says. One can expect revival in consumption growth by year end, he says. He sees FY08 GDP growth at 8.5% and FY09, at 7.5%


The US economy is in recession, but it is still left to see how serious, says Hans Goetti, CIO, LGT Bank, on CNBC-TV18. But he believes the current US recession may be deeper than the last one. Global markets may bottom out by the third or fourth quarter of 2008, he says. But since India is comparitively less co-related to the US, economically, it is better positioned than other emerging markets for the long term, he adds

Prime Minister Manmohan Singh says the government is confident of keeping inflation at acceptable levels, reports NDTV Profit. Inflation is 'iniquitous' tax that is hurting the poor, and therefore it must be controlled, says the PM. India cannot be completely insulated from global factors, though major part of Indian growth is driven by domestic factors, he adds. The government is confident of maintaining 9% growth for FY08, he says

Retail investor is showing some buying interest at lower levels, says Sudip Bandyopadhyay of Reliance Money, on NDTV Profit. He suggests staying invested for a time horizon of 3-5 years. FII interest in the infrastructure space in India remains strong, he adds

Anand Tandon, Director - Equities at Brics Securities said that the bottom may be a few hundred points here and there on the Nifty, but the worst is out of the markets. The euphoria is most definitely over, serious money has been lost and now we can look at fundamentals of the markets, reports CNBC-TV18.

Sanjay Sinha, CIO, SBI Mutual Fund said that the markets will have to wait for a few days for global bad news to subside and that rate softening would be positive for the economy. Speaking to CNBC-TV18, Sinha said he is positive on the midcap space. He added that they’ve picked stocks in banking, financial, engineering and the construction space during the recent fall.

Chetan Ahya of Morgan Stanley sees India’s FY08 GDP growth at 8.5% and that of FY09 at 7.5%. The interest rates need to go down to revive consumption story, he told CNBC-TV18. The lending rates are likely to fall by another 50 bps, he said. Ahya expects a revival in the consumption growth by year-end. There is a need for an interest rate cut of 125 bps from the RBI, Ahya said. The risks to inflation in India are more from then global side, he added.

RK
RentalAndRealEstate.com

15 - Feb -2008 : Analyst's Views and whats in store for the day ahead!

Mr.Bernanke's comments have pulled down the US markets yesterday and the Asian markets are following suit today morning. My guess is that India will be no different.

If you had read some of the analysts views about the yesterday's surge its clear that they see it just as a blip and not the start of a new bull run. Trading volumes were low yesterday so they claim investors have not fully participated which means there is still lack of confidence.

If the US markets had closed with some positive news then I would have hoped that Indian markets would have ended the week bringing joy to all the investors and traders but its going to be another rough ride today.

One thing is clear it does not matter how good the Indian economy is and will be growing but it really matters how US economy is. Perhaps this will be the case till China and India become the world's two biggest economies then the stock markets will reflect the true condition of the economy.

I will be updating the post through out the day as when the analyst's views come in.

PS: Asian markets have opened in the red

RK
RentalAndRealEstate.com

15 -Feb - 2008 : Overnight Headlines to start your day

Overnight headline's:

Economic Times

• Promoters take advantage of mkt meltdown
• Separate hype from reality on US slowdown: Accenture
• RCom for possible takeover of Capgemini
• India, China to drive auto growth in 2008: Daimler

Financial Express

• Govt Bites The Bullet: Fuel Prices Hiked
• Indias gold demand rises 6%
• Financial reforms unlikely to take place before LS polls
• Steel companies relent, agree to roll back hike

CNN Money

• Wall Street slumps as investors react to Fed chair's economic outlook.Stocks tumbled Thursday as investors reacted to Federal Reserve Chairman Ben Bernanke's Congressional testimony that economic conditions are likely to get worse before they get better
• Gore to Wall Street: beware of 'subprime carbon'
• Boeing partners with Tata for plane parts

Sify

• Boeing, Tata announce new joint venture
• Wipro unit wins $50 m outsourcing deal
• Idea adds 1.2 million new connections in 2007-08
• 'IT sector layoffs unrelated to economic slowdown'
• NIIT Tech adopts new model to boost profitability
• Punj Lloyd to build $282 m resort in Singapore

ChannelNewsAsia

• New York state governor Eliot Spitzer warned Thursday that bond and credit woes afflicting Wall Street and global markets could turn into a more damaging "financial tsunami."
• US dollar slips after Fed chief opens door to rate cuts
• Dow slumps as Fed chief sees 'sluggish' growth
• US sub-prime crisis costs global loss of US$7.7 trillion
  

MoneyControl

• Mkt gains driven by large-scale short covering: MS
• Fuel prices hiked to avoid fiscal system collapse: PM
• Volatility to continue for now: Mangal Keshav

Business Standard

• Tatas find an ally in Orient-Express battle
• Boeing, Tata form India JV for aerospace parts
• Cap on foreign inflow into debt market to stay: RBI
• India can sustain 9% growth: PM

14 - Feb -2008 : Happy Valentines day to all the investors and traders!!

Finally, there is something to cheer about on Valentines day. There were positive news everywhere - US retail sales were better than expected, Japan economy grew more than expected and the the markets did not disappoint.

It was a brilliant day. Sensex closed at 17766, up 817 points and Nifty at 5202, up 272 points from the previous close. More importantly there were no wild swings during the day. It was pretty stable which is the most positive news.

European markets are also trading in the positive and if US closes positive today then we can expect a bonanza tomorrow and at least I can recover all my losses. Looking forward to it.

The one stock I am worried about in my portfolio is Satyam Computers. I bought it at 442 and have been holding it for 4 months now and I have not seen go past 442, expect briefly. So I am in a dilemma to sell it or hold it. Lets see how it goes tomorrow.

I end this post with some of the Analyst's view from the day

In the IT space, if Satyam stays above Rs 420 one can hold on to the stock for long term and it has a target price of Rs 500-520 in two weeks, says says MB Singh, technical analyst, on Zee Business

Following the fuel price hike, ONGC amd Oil India will share 33% of under recoveries, says Oil Secretary M.S. Srinivasan, on NDTV Profit

If one has a 6-8 month horizon, stocks to accumulate are ICICI Bank, SBI, BHEL and L&T as they are likely to offer good returns, says Shishir Kedia, technical anlayst with Religare Securities, on CNBC Awaaz

Investment sentiment continues to be cautious and that trend is likely to continue for a few weeks, says Malcolm Wood of Morgan Stanley, on CNBC TV18. The market is offering tremendous buying opportunity at this time, he adds

Global concerns are not yet over and we are still not out of the woods, feels Rajesh Jain of Pranav Securities, on NDTV Profit

The market had gone down too far, too fast and it is advisable to wait and watch in this scenario, says Gaurang Shah of Geojit Financials, on NDTV Profit. This relief rally needs to be sustained and the market is not running away on the higher side for investors, he advises


The market has got some positive breather from the oil price hike, says Deven Choksey of KR Choksey, on CNBC-TV18. Next week the market is likely to see be in the range of 16200-18500, he adds

The petrol and diesel price hike will see an annualised benefit to oil companies of around Rs 6500 crore, reports NDTV Profit. The price hike will see IOC benefit by Rs 410 crore for the remaining of FY08, says S V Narasimhan, director, finance of the company, on the channel

RK
RentalAndRealEstate.com

14 -Feb -2008 : Can Valentines day bring cheer to the Indian Markets?

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Headlines of the Day:
-------------------------------------------------------------------------------------------------
Economic Times

It is time for caution: Infosys CEO

Software firms worry US weakness will hit India biz

R Power loss totals about Rs 100 a share

India may feel pinch of global crisis: IMF

CNN Money

Retail sales spark rally, Blue chips rally for 3rd session

Financial Express

Another Fed cut likely as borrowing costs stay high

Learn lessons from American slump: Left tells UPA govt

Double taxation and multiple levies hampering growth

IMF asks India to gear up to tackle global crisis

Moodys alarm bell for 2008 as well

Sify

Rupee at 2-½ month lows on dollar squeeze

Special bonds pose risk to India deficit: JP Morgan

ChannelNewsAsia

Japan's economy grows 3.7% in fourth quarter of 2007

Singapore's economic growth moderates in Q4 of 2007

US dollar gains after strong US retail sales data

Wall Street rallies on upbeat retail sales data

Bush signs economic stimulus package

MoneyControl

See buying opportunities in mkt: Morgan Stanley

No positive triggers for mkt in near-term: Religare

Enough forces to keep mkts volatile: Pranav Sec

Sensex to see 21K-24K range in 1 year: MOST

See large exodus of foreign investors: ABN Amro

Business Standard

Sebi brings art funds under its canvas

US Markets ended in green, Asian Markets are in green at this moment and I can only see happy people the end of the day. Happy Valentines Day!!

RK
http://www.RentalAndRealEstate.com

13 - Feb -2008 : Market ends on a high!!

Indian Markets ended on a positive note even though the European markets were trading in the negative and Asian markets had closed mixed.

Day was mostly stable and the expected volatility was not there. But the overall market breadth was negative - there were more declines than advances.

Markets will be in trouble tomorrow if US and Europe closes in negative today. Its going to be a wait and watch policy. At least I am not going to invest anytime soon. I will wait for at least a week of stable trading before I make a decision. I am a novice and I don't want to risk anymore of my money

RK
http://www.RentalAndRealEstate.com

13 -Feb -2008 : Today could be a mixed bag!

First, the overnight headlines from some of the websites
-------------------------------------------------------------------------------------------------
Pre -Market News:-
-------------------------------------------------------------------------------------------------

Economic Times

India's industrial activity is expected to cool due to the impact of RBI's policy tightening and the rupee's appreciation: HSBC

Financial Express

In a move that is expected to spur consumer spending, finance minister P Chidambaram on Tuesday asked public sector banks (PSBs) to ensure adequate credit supply for home and consumer durables purchases

At 24%, India to log highest SMB IT spend in BRIC

TCS to restructure for agility

Industrial growth plummets to 7.6%

Tea exports in 2007 fall 28% on rupee rise

Coffee touches a decade high

IBN Live

Market mayhem: Parliament panel wants change in norms

ChannelNewsAsia

US job cuts mount as slowdown erodes corporate profits

US stocks end mixed as Buffett reaches out to insurers

MoneyControl

Don't see knee jerk reaction below 16k: Mangal Keshav

Mkts can fall another 7%: India Infoline

Feb 11 crash similar to May '06 correction

Business Standard

CBDT wants capital gains tax for all FIIs :- n its pre-Budget proposals to the finance ministry, CBDT has sought an amendment to Section 115 AD of the Income Tax Act so that all foreign institutional investors (FIIs) pay capital gains tax on their profits in India

Revisit realty sector exemptions: I-T Dept

ICICI-Pru to launch first fixed maturity plan for retail investors

-------------------------------------------------------------------------------------------------
Analysts Views:-
-------------------------------------------------------------------------------------------------

Ashwani Gujral, technical analyst, on CNBC Awaaz :

Sentiments have turned negative in the market which has become 'sell on rise and not buy on dips'

Chetan Ahya of Morgan Stanley, on NDTV Profit :

Indian growth story is less likely to be affected by a US slowdown. Indian GDP growth is expected to be at 7.4% in FY09 and Indian inflation is being assumed at 4.7% average for FY09, he adds. Emerging markets are better poised to face a mild US recession, he says

Anil Maghnani, technical analyst, on CNBC-TV18 :

Nifty has strong resistance at the 200 DMA level of 4975 and till it closes above that convincingly one should not go long in this market

Rajat Rajgarhia, Motilal Oswal, on CNBC TV18 :

Sensex is likely to be in the range of 20,000-24,000 in one year

Gaurang Shah, Geojit Financials, on Zee Business :

The banking sector is likely to outperform in the long term and stocks that can be accumulated in this space include ICICI Bank, SBI, Axis Bank and Kotak Mahindra Bank

Prashant Jain, HDFC MF, on CNBC Awaaz :

The market is likely to see short-term volatility but India's long-term story is intact

Sandep Wagle, Angel Broking, on NDTV Profit :

If Sensex breaks 15300 then it could be called a bear market but until then it could be termed a corrective phase

Ridham Desai, Morgan Stanley, on CNBC TV18 :

About 10% lower than current levels would be a fair value for the market. The market is expected to give 18-20% earnings growth and one should stay with the largecap stocks. The Indian IPO market is likely to remain lackluster and investors may use lower prices to buy stocks

RK
http://www.RentalAndRealEstate.com

12-Feb-2008 : Is there light at the end of the tunnel!!

Since the markets are being hammered we now have analysts coming forward and talking about cyclical bear markets. Stock market analysts seem to be more like cricket commentators. All are good at making statements after the results are out! Anyways lets see what the markets have in store for us today.
-----------------------------------------------------------------------------------------------
Pre-Market : Is there a hope??
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Fortunately, US Markets have closed in the positive and it is reflected in the Asian Markets. Most of them have opened in the positive. That's a good sign, at least for today.

I was hit by this most damning of statements while browsing through the various news sites

Sensex may fall another 20% by yr-end: First Global

Another one that caught my eye after the Reliance Power debacle is

Is it the end of the road for primary market?

Some encouraging statements were also there

TCS sees no immediate impact due to US slowdown

The global equity market meltdown hit India the least compared with other emerging equity markets in January. The Indian market shed 16% as against Russia's 16.12% and China's 21.40% - Do you consider this as positive?

Asian markets being in the positive territory is a solace so my guess is that Indian markets will follow them but how they close will be another matter altogether.

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Market : Did it react as expected?
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Market has opened positive in line with the other Asian markets but was hugely volatile through out the day. And it has closed in the negative but the day has to be termed very good as compared to yesterday. The volatility is still there - guess people are ready to sell off whenever the stocks make a slight recovery. It can only say that there are lot of speculators in the market than investors. People seem to be worried. India is still growing and there is no bad news on the economy front but still people don't seem to have the confidence. I am not sure what the FIIs and the MFs are doing. Are they staying put or selling off?

But one thing for sure, whatever happened in the last few weeks is good for the genuine investors who look to invest in fundamentally strong stocks. They must have felt like fools when the dubious stocks were running up crazy and the sound stocks stuck.

European markets are in positive but only marginally. If we will have a couple of days without negative news from US then the world markets will get a chance to stabilize and we can all take a breather.


RK
http://www.RentalAndRealEstate.com

11-Feb-2008 : Predictions for 12th Feb??

Any readers willing to predict how the markets will move tomorrow?

Please leave a comment and it should make for interesting discussions

RK
http://www.RentalAndRealEstate.com

11-Feb-2008: Indian Stock Market Ends A Miserable Day

More misery was piled on the millions of retail investors and speculators today. De-coupling theory can now be completely thrown out of the door. I am not sure what the analysts, who were earlier, preaching about this theory have to say now.

Anyhow, this is how it has ended - Sensex down 833 points and closed at 16630, Nifty closed at 4857, down 263 points. And the much awaited Reliance Power listing became a most unpredicted disappointment - closed at 372!

All the Asian markets ended in red today but Sensex and Nifty were the biggest losers. Indians seem to overreact either way. European markets are trading mixed. Lets hope US opens and, more importantly, closes positive.

RK
http://www.RentalAndRealEstate.com

11 -Feb -2008 :- Can Indian Markets stop the bleeding?

It's Monday 11th February 2008 and I should say there is hope that the Indian Markets will rebound this week - pre-budget rally is what's it's called.

I am just a new entry into the stock markets and have been doing pretty bad at it so I will keep out of passing judgments on the news and views of various analysts and brokerage firms.

Since this is my first post, I have not yet thought about how the posts should be - what to include, how to format and present. So forgive me if you can't make sense of the first few posts. I promise they will get better as time goes on.
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Pre-Market :-
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Trading has started on the other Asian Markets and, not surprisingly, they have opened lower. Wow, thats encouraging!! No??

Lets see if there any encouraging news from any of the financial papers and websites

Bloomberg :-

A couple of stories caught my eye and they are not good

Group of Seven policy makers said the U.S. economy may slow further, eroding global growth, and officials forecast more financial-market turmoil.

India's industrial production probably grew less than 10 percent in December for the second time in three months, adding pressure on the central bank to cut interest rates.

Yahoo Finance :-

GLOBAL MARKETS WEEKAHEAD-G7 does little to calm nerves

Asian stocks fall on credit worries (Reuters)

ChannelNewsAsia :-

Analysts say G7 does not offer markets a 'quick fix'

Economic Times :-

Markets eye R-Power listing for future cues

Investors lose over $100 bn in market crash

Mkt crash: Small investors down but not out

Equities seen volatile; R Power listing eyed: Volatility is likely to remain the order of the day amid global market weakness. The Reliance Power listing slated on Monday will also play an important role in deciding the market direction

MoneyControl :-

Mkts to stage a rally in run-up to Budget: Credit Suisse

Sify :-

Investors less interested in high-priced IPO: Marketmen

Investors will gain long term: Anil Ambani

I guess it's enough of bad news for now. I am depressed already! Let's see whether the pre-budget rally that everyone talks about happens. But my guess is that the Indian Markets will open lower. This is easy to predict now since the de-coupling theory was proven wrong.
Lets keep our fingers crossed and wait!!
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Market :-
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As expected the market has opened lower. A small update from rediff on the Reliance Power if you have not already known the news

The stock touched a high of Rs 600, and a low of Rs 389, and is trading at Rs 443 - a discount of Rs 10 - as of 1100hrs. The weighted average price on the BSE is Rs 435, and around 2.51 crore shares have changed hands so far on the exchange

IbnLive says "Markets trade in red: Energy, realty, midcaps down"

RK :-

Market is down 784 points. Pretty bad day and I think my portfolio must have gone down by another 10-15%. God save me!!

Yahoo Finance

Reuters report states that "European stocks were set to drop on Monday on
concerns that the global credit crisis could spread, but rising commodity prices
may lend support to energy and mining companies"

RK at 13 hrs:-

Every one thought Reliance Power to be the savior but none in their wildest dreams could have thought that Reliance Power could hurt the sentiments so much and bring down the Market

Analyst's Views and Predictions :-

Here are some of the views and opinions of some of the analysts

Investors would be advised to stay away from this market which could be seeing a pause in the bull run, says Ashu Madan of Religare, on CNBC TV18

One can deploy around 25-30% cash in this market since valuations look good for many stocks now, says Dilip Bhatt of Prabhudas Liladhar, on CNBC Awaaz

Frontline stocks in capital goods, engineering, real estate, steel, banking and financial services sector look good after this market fall, says Gaurang Shah of Geojit Financials, on CNBC Awaaz

While global cues are weak, there seems to be a general nervousness in the Indian market with no buying from any quarter (no retail investors or FIIs), says Deven Choksey of KR Choksey, on NDTV Profit

Financial crisis will have impact on world economy, says IMF on NDTV Profit

The world is in the grip of a bear market and the Indian market is also showing signs of being bearish, says Rajesh Jain of Pranav Securities, on CNBC TV 18

Puru Saxena, Chief Executive of Purusaxena.com said, the uptrend in the Sensex would resume after some basing and consolidation

Wait for markets to find a bottom: Sudarshan Sukhani of Technical Trends

As we can see there is no dearth of analysts but why such differing opinions? Lets see who gets it right at the end of the day!!

RK at 14 hrs: -

I will stay out of the market for the moment. I have some cash but would not place it unless I really the tide turning.

RK at 15:30 hrs: -

Sensex down by a little over 800 points and Nifty a little over 250 points. The message that is being made clear by the analysts and the market is that its very dangerous to speculate at the moment. Almost all agree that you put your money if you are looking at long term

RK
http://www.RentalAndRealEstate.com