07 Mar 2008 : Indian Stock Market News Round up

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RBI: Budget in line with growth, price goals
Central bank sees the government's 2008/09 budget as being in line with growth and price stability objectives, it said on Thursday, adding it will help to implement a farm debt relief scheme.

Government may ease foreign debt rule in future
India will ease restrictions on overseas borrowing by companies, introduced last year to slow capital inflows, as soon as local and global conditions allow, a senior finance ministry official said on Thursday

Investors must be encouraged to stay for longer term: FM
Defending his budget proposal to increase short term capital gains tax rate, Finance Minister P Chidambaram today said it would encourage the investors to hold on to their investments for a longer period in the markets, which are currently volatile.

Chidambaram asks brokerages to embrace corporate culture
Finance Minister P. Chidambaram has asked stock brokerages to introduce corporate culture in their working and suggested creating a separate exchange to list small and medium enterprises.

Chidambaram bats for cheaper housing loans
Finance Minister P. Chidambaram Thursday made another pitch for commercial banks to cut interest rates for their consumers, especially on housing loans up to Rs 0.2 crore that accounted for 80 per cent of exposures

The Economic Times
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India Inc on debt row, credit rating takes a hit
With Indian cos borrowing heavily to acquire businesses several times their own size, corporate India has seen a fall in its credit worthiness.

Volatile mkt: Now, brokers bat for commodity futures
Brokers feel that commodity futures may be a safer bet than the equity F&Os at this moment, even as experts have their reservations

International News
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Heavy losses on Wall Street on credit jitters
NEW YORK - Wall Street stocks wallowed in losses Thursday as growing worries about the financial and housing sectors kept traders in a grim mood.

US home foreclosures at new high
WASHINGTON : US home foreclosures rose to new highs in the fourth quarter of 2007 as loan delinquencies jumped to a 22-year high, the Mortgage Bankers Association reported Thursday

Gold price strikes record high near 1,000 dollars
LONDON : The price of gold hit a new record on Thursday close to the symbolic 1,000 dollars per ounce level as the precious metal was boosted again by the weak dollar, traders said

Oil price hit record high near US$106 amid New York explosion
LONDON : Oil prices soared to a record high close to US$106 a barrel on Thursday as traders were spooked by a small explosion in New York, a surprise fall in US crude stockpiles and the weak US currency.

U.S. department stores report weaker February sales
ATLANTA (Reuters) - Major department store chains reported lower February same-store sales on Thursday as consumers spent less on home goods and women's apparel in the weaker U.S. economy.

Household wealth dips for first time since 2002
WASHINGTON (Reuters) - The net wealth of U.S. households fell for the first time in five years during the fourth quarter last year as the value of real estate holdings and stocks weakened, the Federal Reserve said on Thursday

U.S. jobless claims tumble 24,000 last week
WASHINGTON (Reuters) - New applications for U.S. jobless benefits tumbled by 24,000 last week to a much lower-than-expected 351,000, but the number remaining on jobless aid stood at the highest level in nearly two and a half years, a Labor Department report on Thursday showed.

RK
http://yourmitra.wordpress.com

05 Mar 2008 : Indian Stock Market News and Analysts Tips

MoneyControl
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• Gbl weakness accentuated Budget negatives: Kotak Sec
• Mkts to be choppy for 3-6 months: Lehman
• '08 to be down year for mkts: Morgan Stanley
• Mkts still seeing excessive valuations: Damani
• Farm loan waiver +ve in short-term: MF Global
• Mkts to consolidate for a month: Kotak Mah

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Eicher cuts truck prices after budget duty drop
Truckmaker Eicher Motors Ltd said on Monday it will cut commercial vehicle prices by between Rs 5,000 and Rs 19,000 each, following a government plan to cut taxes on cars, trucks and motorbikes

TRAI to review FI limits for broadcasting sector
In view of convergence of broadcasting and communication technologies, Telecom Regulatory Authority of India (TRAI) today proposed to review Foreign Investment (FI) limits in the electronic media to provide level playing field among competing technologies

Exports grow 20.47% in Jan
Exports showed a healthy growth of 20.47 per cent in January this fiscal over the same month last year, but expanded by a single digit figure of 7.66 per cent in rupee terms due to pricey domestic currency

Narayana Murthy to join HSBC board
Global banking giant HSBC on Monday said Indian IT major Infosys' Chief Mentor N R Narayana Murthy will join its board in May with an annual renumeration of 65,000 pounds (about Rs 52 lakh)

The Financial Express
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Bihar okays $10-bn investments
The Bihar government has approved investment proposals worth over Rs 40,000 crore, many by big corporate entities, but there are still hurdles in the way like poor infrastructure and land acquisition, the state's latest economic survey said

FM: were not as decoupled as we think
Finance minister P Chidambaram appeared unruffled by the downslide in the domestic stock markets, attributing it to a slowdown in US markets. The benchmark Sensex slid 5.1% on Monday, tracking other weak Asian markets.

World economy slips further, prices gear up
The world economy geared down another notch in February but the inflation threat intensified, data showed on Monday, posing the biggest challenge for central bankers in a generation

Investors lose Rs 2.7 lakh cr since Budget; FIIs sell heavily
Over Rs 2.70 lakh crore has been wiped out in market capitalisation since the Budget was presented on February 29, when the Sensex touched 17,578.72. The M-cap of the Bombay Stock Exchange, which touched Rs 58,85,951 crore on February 29, 2008 is now down to Rs 56,15,813 crore on March 3,

Leather sector faces huge lay-offs, seeks fiscal support
Continuous fall in export earnings owing to the widening gap in the rupee-dollar parity is forcing the leather industry substantial production cuts that might lead to lay-off of more than one lakh employees

HSBC absorbs $17-bn subprime hit
HSBC's profits rose 10% last year, just below analysts' forecasts, as strong gains in Asia helped Europe's biggest bank absorb a $17.2 billion hit for bad debts largely due to US housing problems.

Nano fears hit two-wheeler manufacturers
The Nano fear seems to have begun to creep into the minds of two-wheeler manufacturers. In a post-Budget meeting with the finance minister on Monday, the biggies of two-wheeler industry, Hero Honda and Bajaj Auto, requested for a further reduction in excise duty on two-wheelers from 12% as announced

The Economic Times
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RBI may allow trusts to invest abroad
This would open the gates for Indian educational institutions like IITs and IIMs besides religious bodies and charities to invest in or acquire overseas assets.

International News
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Stocks flat as Alcoa, Exxon rise; Nasdaq falls
NEW YORK (Reuters) - The Dow and the S&P 500 ended little changed on Monday as soaring commodity prices

February auto sales tumble, Detroit hit hardest
DETROIT (Reuters) - U.S. auto sales tumbled in February in the face of a slumping economy and high gas prices with double-digit declines by all three struggling Detroit-based automakers.

RK
Rental Classifieds and Real Estate Social Network

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

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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 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

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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 - 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.

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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
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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

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

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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

18 - Feb -2008 : News and Views

News Reports

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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 : 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:
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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
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Pre -Market News:-
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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

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Analysts Views:-
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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.
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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