Morning Summary- Market Synopsis- 31st August, 2012

Good Morning Everyone,
The key Indian stock indices have opened in the negative territory, with Sensex and Nifty dripping below the 5300 and the 17500 benchmark. The Sensex was quoting at 17463, down 79 points over the previous close while the Nifty was quoting at 5281, down 34 points over the previous close. An important event today will be the release of Q1 FY13 GDP data. India’s growth has slo

wed for the past six quarters and is expected to slump even lower in the April-June quarter. Barring Healthcare & Consumer Durables, all the other sectoral indices are in the negative terrain. Realty, Auto & Power indices are the top losers followed by Metal and PSU indices. The market breadth is almost flat with a slightly positive bias.
(Pic Source: bseindia.com)

Precious Metals are trading in a tight range, Gold trading at 1660 while Silver at 30.5. Prices are clutched in a tight range as the market participants are waiting for the Federal Reserve’s Chairman Ben Bernanke speech to be delivered at 7.30 PM. Base metals are trading mixed, moving in and out of its positive territory while Crude traders are also waiting for the Federal Reserve’s comments on a new round of monetary easing. Market is expected to remain highly volatile as the event will confirm the liquidity in the market by the central banks.

News Hour - Indian drug companies like Glenmark, Dr Reddy's, Sun Pharma break into world’s fastest growing list

 MUMBAI: In yet another instance of India Incoccupying a larger seat in the global league tables, three out of the top 10 fastest-growing generic companies globally are now from India . Besides being an indication of the acceptance of domestic pharmaceutical companies and their growing clout, this is also a stamp of their command on manufacturing processes, innovation and marketing muscle at a global scale.

On the list is Glenmark Pharmaceuticals which, with a growth of 37%, is the fifth fastest-growing generic company globally, followed by Dr Reddy's which grew 34% in FY 2011-12 , according to global pharmaceutical research firm, Evaluate-Pharma . The third domestic company on the list, Sun Pharmawitnessed a growth of 29%, occupying the eighth rank, right below its subsidiary Taro which had a 33% growth (Taro reports its own numbers since it's listed in the US, while the domestic company has started combining the Israel-based company's financials since September 2010).

The club of the fastest growing generic companies in the world is dominated by US companies , led by US-based Sagent Pharma, which witnessed a huge growth of 106% during the period, according to the research firm's latest analysis.

Perrigo, another US company , is the world's second fastestgrowing company with an 80% growth. Nichi-Iko Pharmaceutical of Japan is on the third slot, posting a growth of 79%, while Watson Pharma of US grew 46% during the period.

Pharma companies have taken advantage of the blockbuster drugs which are losing patent protection, and have already raked in millions of dollars by introducing their copycat versions. For instance, Dr Reddy's launched generic versions of blockbuster drugs Zyprexa and Plavix, while Ranbaxy mopped up huge revenues from sales of generic Lipitor.

Significant product launches , market exclusivity of drugs going off-patent , and growth in regulated markets have contributed to the development, industry experts say.

According to Sujay Shetty, India leader for pharma and life sciences at PwC India, "This shows the growing significance of domestic companies in terms of quality, portfolio strategy and certain significant firstto-file (FTF) products. Strong revenues from regulated markets are another factor which contributed to the huge growth. Most of the companies have sales of around 50% coming from US, which is the largest market for generics globally. Domestic companies like

Dr Reddy's capitalized on key FTF opportunities , while others including Sun Pharma posted gains on account of US sales." The growth in domestic companies has also been driven by their robust home businesses . The Indian pharma market is clocking a growth of around 15-20 % year-on-year .

Commenting on Glenmark's strategy, CMD Glenn Saldanha says, "The high growth is due to our focus in building a strong emerging markets business in addition to having a significant presence in India and US. The growth from markets, particularly Russia, Brazil and the US, has been exceptional . We have invested in these markets for the last sixseven years and we are just beginning to make huge inroads in these markets. Glenmark will continue to build its presence in markets like Russia, Brazil and Mexico where it has invested for the last five years and these markets will drive strong growth."
(Source: economictimes.indiantimes.com)

Commodity Market Update (Natural Gas)

Precious metals are trading in a narrow range since morning, and are expected to trade silent with negative bias as the anxiety over the Federal Reserve’s event to be scheduled tomorrow may generate volatility in the precious metals. Traders will be looking for US Initial Jobless Claims data to be released today to find some cues for the intraday trading. Gold

 have its support around $1650 while Silver may face support near $30. Base metals may remain a bit positive while Crude Oil prices are expected to trade near the current level. Natural Gas seems to trade lower for the day. Traders will be looking for the storage data to be released at 8.00 PM, with a market forecast of 65 BCF compared to the previous of 47 BCF.

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Morning Summary- Market Synopsis- 30th August, 201

Good Morning Everyone,
The main Indian stock indices lost ground, making this fifth consecutive session of losses for the Indian shares. Mounting worries over policy paralysis in the wake of the parliamentary logjam over controversial CAG report on coal blocks is adding on to the overseas negativity. Market experts do not expect any meaningful reforms in the near term. That means the upside from h

ere on seems limited for key Indian stock indices. The Sensex is currently trading near the level of 17420 i.e., down by nearly 65 points and the Nifty is trading near the level of 5285 i.e., down by nearly 45 points. This has led the midcap and the small-cap counters to trade flat to negative. On the sectoral front, except for Healthcare index, all the other indices are trading in red. Auto index is leading the list of losers with losses of over a percentage point. Further, the market breadth is weak as only one stock is seen advancing for every two declines.

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Commodity Market Update (Crude oil)

Precious metals are trading in a small range today. The most actively traded contract on Chicago Mercantile Exchange with Gold and Silver are trading in red since morning. Prices are trading lower on euro zone debt crisis which is back in concern. US Crude Oil future is likely to remain mixed on NYMEX until the release of US Crude Oil Inventories which will possibly trigger some movement in the oil prices. Natural Gas may remain lower to test its near term support of $2.50 on NYMEX. Base Metals are likely to remain lower except Nickel and may got some momentum after the release of US economic data.

Market Heatmap - 29th August,2012

Market Heatmap
The major Indian equity indices opened the day on a flat and dull note. This dull note led the market in the weak zone and the session finally ended the day in the red. The Sensex closed at the level of 17490.81 i.e., down b

y 140.90 points and the Nifty closed at the level of 5287.8 i.e., down by 46.8 points. This led the midcap and the small-cap counters to close negative by over half a percentage point each. On the sectoral front, except for FMCG and Healthcare indices, all the other indices closed in red. Realty index closed as the major loser with losses of over three percentage points. Further, the market breadth closed weak as only one stock was seen advancing for every two declines..Find out more at : http://www.facebook.com/bmawealth?sk=app_206541889369118

News Hour - Sebi wants to shorten IPO bidding period, favours faster listing

NEW DELHI: Capital Market regulator Sebi will soon ask companies seeking to raise funds through Initial Public Offers (IPOs) to complete the bidding process within a maximum five days and get listed in another five days. 

To shorten the entire IPO process, Sebi is also working at faster allotment of shares to investors and reduce the time -gap between closure of issue and final listing from 12 days to five days, a senior official said. 

Currently, Sebi regulations require the bidding period to be completed in a minimum of three working days and a maximum of 10, including the extension given pursuant to a revision in price band by the issuer. 

However, companies are not allowed to extend the bidding period in case there is no revision of a price band. 

Sebi is of the view that a faster and shorter IPO period would "induce greater process efficiencies and enhance the investor confidence in the issue", the official said. 

Consequently, Sebi is looking to shorten the bidding period in an IPO to two or three working days in normal cases. Besides, it would consider granting one extension of maximum two working days, irrespective of whether there is a change in the price band. 

In case of an extension, all the investors would have the option to withdraw their earlier bids made until the revised issue closure date. 

The decisions are being taken by Sebi pursuant to the recommendations given by its Primary Market Advisory Committee (PMAC). The new guidelines would be soon put in place by Sebi. 

Some other steps identified by Sebi for the benefit of IPO investors include reduction of time taken after issue closure to the listing date from 12 days to five days in a phased manner, while it would also look at rationalisation of disclosures in the offer documents filed by the companies. 

The regulator has already announced a number of steps recently, after its last board meeting on August 16, intended at reforms in the primary market for the benefit of investors. 

These steps include allotment of a minimum lot of shares to retail investors and setting-up of a nationwide network of brokers to facilitate submission of bid applications through e-IPO process. 

Besides, Sebi board in its last board meeting also approved steps for review of the public issue processes and regulatory framework, putting in place a framework for rejection of offer documents and evolving an appropriate mechanism for effective monitoring of issue proceeds. 

Sebi has also announced that the companies would have to disclose the price band five days before the issue opening, which is already a practice. 

However, regulations require that the companies may announce the floor price or price band at least two working days before the opening of the IPO.

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Morning Summary- Market Synopsis- 29th August, 2012

The Indian Equity indices opened on a flat note with a negative bias following weak global cues. Sensex was trading at 17587 with a loss of 46 points while Nifty was trading at 5321 losing 14 points. Sectorally, the indices were seen trading mixed. Banking was the top gainer with over half a percentage points gain while Teck, IT and Auto were lagging with over half a percentage points loss. The market breadth was weak and five stocks were seen advancing against every six declines.

News Hour - Maruti Suzuki to continue investment in Haryana: R C Bhargava

NEW DELHI: Maruti Suzuki today said it is committed to operations in Haryana and will not cut back any planned investment in the state, although the Manesar plant would function under security cover for the time being due to unprecedented violence there last month. 

Addressing shareholders at the 31st Annual General Meeting, which started after observing a minute's silence in memory of slain General Manager (HR) Awanish Kumar Dev, Maruti Suzuki India Chairman R C Bhargava said that security cover at Manesar plant will continue till its staff feels secure. 

"Manesar plant violence was pre-meditated. It was unprecedented, not only in the history of MSI, but also in the industrial relations history of India," Bhargava said. 

The visiting Chairman of Suzuki Motor Corporation, MSI's Japanese parent, Osamu Suzuki has met Haryana Chief Minister Bhupinder Singh Hooda and requested him to find the actual cause of the violence at Manesar, and Hooda has promised to do so, he added. 

"Suzuki is supportive of Maruti and we will continue operations in Manesar, (there will be) no cut back in planned investments," Bhargava said. 

Talking about the ongoing heavy security at the Manesar facility that is being provided by the state police and MSI-appointed private guards, he said it will continue till its employees at the unit feel so. 

"We will continue to have security at the Manesar plant till the time our people feel secure and think that it can be done away with it," Bhargava said. 

On restoration of normal productions at the violence-hit plant, he said MSI is hopeful of doing so in a short period of time as the process of increasing worker strength is on. 

Before the incident, the total workers at the plant were around 3,300. Of these, 1,528 were permanent. 

"We do hope to restore full production in a reasonably short period of time. 700 workers have reported so far, contract workers are being regularised. We will make additional recruitment to replace 500 odd permanent workers, who have been asked not to come back," Bhargava said.
(source: economictimes.indiatimes.com)

Market Heatmap - 28th August,2012

Market Heatmap
The major Indian equity indices opened flat with a negative bias and then finally ended the day on a weak note. The Sensex closed at the level of 17631.71 i.e., down by 47.1 points and the Nifty closed at the level of 5334.6 i.e., down by 15.65 points. This led the midcap and the small-cap counters to close negative by over a percentage point each. On the sectoral front, the indices closed mixed. IT index closed as the major gainer with gains of nearly a percentage point while Metal index closed as the major loser with losses of over two percentage points. Further, the market breadth closed weak as only one stock were seen advancing for every three declines.

Commodity Market Update (Silver)

Precious metals are slightly lower since morning; Gold prices have corrected around $10 and trading at $1663 from the prior closing as traders are unsure for a new round of easing. Easing anticipated rally w

ould have halted due to the unclear picture of Fed, however the prices are expected to remain at the current level as lack of fundamental release may restrict the price movement. Gold may test its resistance around $1710 in intraday while support level comes at $1655. Silver is likely to follow gold while prices may recoup during evening hours to an intraday resistance of $31.10. Base metals are trading mixed doubt of further easing by central banks inject volatility in the market though the price direction is still uncertain. Crude Oil may remain positive in the coming session while Natural gas is trading with negative bias.

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Morning Summary- Market Synopsis- 28th August, 2012

Good Morning Everyone,
The major Indian equity indices started the day on a dull and subdued note. The undertone is cautious before the Fed meet on Friday. The Sensex is currently trading near the level of 17670 i.e., down by nearly 5 point

s and the Nifty is trading near the level of 5340 i.e., down by nearly 10 points. This has led the midcap and the small-cap counters to trade negative by over half a percentage point each. On the sectoral front, the indices are trading mixed. IT index is leading the list of gainers with gains of over half a percentage point while Metal & Consumer Durables indices are leading the list of losers with losses of over one and a half percentage point each. Further, the market breadth is weak as only three stocks are seen advancing for every eight declines.

Market Heatmap - 27th August,2012

News Hour - Gold touches fresh high at Rs 31,400

New Delhi: Scaling a new peak, gold prices today touched all-time record of Rs 31,400 per 10 grams in the bullion market here on strong cues from global markets. 

Traders said gold registered gains for the seventh trading session in a row, rising by Rs 100, on sustained buying by stockists amid rally in overseas market. 

The investors were also seen shifting funds from melting equities to firming bullion, they added. 

The metal has gained Rs 860 in last six trading sessions. However, silver lacked necessary buying support and declined by Rs 100 to Rs 57,700 per kg. 

In global markets, gold rose to a four-month high on speculation that central banks from the US to China will act to spur economic growth and investment holdings in the metal climbed to record, supporting its rally here. 

In Singapore, the yellow metal rose by 0.4 per cent to $ 1,676.90 an ounce, the most expensive since April 13.

Back home, gold of 99.9 and 99.5 per cent purity advanced by Rs 100 each to Rs 31,400 and Rs 31,200 per 10 grams, respectively. 

Sovereign rose by Rs 100 to Rs 24,800 per piece of eight grams. 

Silver ready declined by Rs 100 to Rs 57,700 per kg, while weekly-based delivery spurted by Rs 1,000 to Rs 58,200 per kg on speculative buying. 

Silver coins met with resistance at higher levels and plunged by Rs 1,000 to Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces. 
(Source: economictimes.indiatimes.com)

Commodity Market Update (Gold)

Bullions are trading in range on the first day of the week, Gold is at $1672.80 and Silver is trading at $30.80 an ounce; we expect both metals to decline slightly in intraday and that should lead to good buying opportunities, we are positive on precious metals in the short term and expect prices to rally to $1700.00 and $31.50-$32.0 in the short term. LME Markets ar

e closed today due to Summer Bank holiday and Copper prices will take cue from COMEX Copper, We are positive on base metals and expect them to move higher during the day and over this week. Crude Oil prices are trading higher by a percent at 97.50 a barrel and Natural Gas is also higher at $2.743 per mmBtu, up 1.52%. We expect both the commodities to remain range bound during the day. The rupee is trading lower at 55.62, down 12 paise or 0.23% at the time of writing this.

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Morning Summary- Market Synopsis- 27th August, 2012

Good Morning Everyone,
The Indian markets began the week with a flat opening. Sensex was trading marginally down at 17760 down by 23 points and the Nifty was following the suit at 5380 with a loss of 6 points. Sectorally, most of the indic

es were trading in the red with Realty, Metal and Banking being the top losers with over half a percentage points loss. Oil & Gas was leading the list of gainers with half a percent gain. The market breadth was positive and eleven stocks were seen advancing against every ten declines

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The Beatles - "Story of the Heart Rockers"

Inspired by the "skiffle boom", a student at Quarry Bank School in Liverpool named John Lennon decided to form a group in 1957 which laid the foundation to what was to become the most famous rock band of all time. John's original name was "The Blackjacks". However, this name only lasted a week and John used the school name as inspiration for the later name "The Quarry Men" in March 1957. John sang and played guitar, Colin Hanton played drums, Eric Griffiths on guitar, Pete Shotton on washboard, Rod Davis on banjo and Bill Smith on tea-chest bass. Bill was soon replaced by Ivan Vaughan. 

John was inspired by "Heartbreak Hotel" and became a fan of American rock 'n' roll music. He introduced songs by Buddy Holly , Carl Perkins, The Coasters, Elvis Presley, Jerry Lee Lewis and Gene Vincent into their repertoire. On July 6, 1957, Ivan Vaughan invited Paul McCartney to see their gig at The Woolton Parish Church Fete. The fifteen-year-old McCartney was introduce to sixteen-year-old Lennon and a unique song writing partnership began. 

The line-up of The Quarry Men increased to seven with Paul on guitar and vocals, John Lowe on piano and George Harrison on guitar and vocals. Soon Griffiths and another member would leave, leaving a five-piece band. The group appeared at several local talent contests but had very few gigs. By January 1959, the group wasn't operating. Although John and Paul kept in touch, George had joined the Les Stewart Quartet. 

That might have been the end of The Quarry Men but they had a stroke of luck. The Les Stewart Quartet had been booked as a resident band at a new club called "The Casbah". It was run by Mrs. Mona Best to support her son's Pete and Rory. Stewart, upset because his guitarist Ken Brown help decorate the club, refused to play there. Ken and George walked out of the group and George contacted John and Paul, and The Quarry Men were reunited as a quartet. After about seven gigs at the club, Ken Brown left over a disagreement about money. From October 1959 to January 1960 John, Paul and George continued as a trio with Paul on drums. They called themselves "Johnny & the Moondogs". 

By this time John was enrolled in The Liverpool College of Art. John knew that they needed a bass player so he asked two students if they would like the position. The two were Stuart Sutcliffe and Rod Murray. Both could not afford a guitar, so Rod started to make one by hand. However, Stuart was able to sell one of his paintings to a John Moores Exhibition and was able to buy a Hofner bass guitar and join the group in January, 1960. At this time the group had changed its name to "Silver Beetles". They also began shifting drummers around, the first was Tommy Moore who toured with them through Scotland and then left. The next was Norman Chapman but he left after only a few weeks. Finally, George suggested that Pete Best, the son of club owner Mrs. Mona Best, become the group's drummer. 

Paul contacted Pete and offered him the drummer seat, he took it. The group had finally settled on "The Beatles" just before their first trip to Hamburg in August, 1960. Now John, Paul, George, Stuart and Pete would head off for Hamburg. At that time The Beatles weren't considered to be the leading group in Liverpool and in most cases were looked down upon. In Hamburg they pulled their act together musically. This was caused by the fact that they had to play such long hours and were bullied by the club owner Bruno Koschimider to "make a show". It wasn't just Hamburg that made them special. The fact that Liverpool had so many venues for local acts to play at, coupled with the rivalry between more than 300 Merseyside groups, continued to forge The Beatles until they were to be regarded as Liverpool's top band. 

At the time, Pete Best was regarded as the most potent symbol in the band. After Hamburg, Stuart Sutcliffe had left and now The Beatles were a four-piece band and Paul took over as bass guitarist. John, Paul and George were the three front-line guitarists and they alternated as lead singers and also performed vocal harmony with either John and Paul or all three. Pete Best played drums and occasionally sang one song but he had developed a distinctive drum sound called "the atom beat" which many other drummers tried to copy. 

By this time, The Beatles had hired Brian Epstein as their manager and he signed them up for an audition with Decca Records. The head of Decca Records told The Beatles manager, "Guitar groups are on their way out Mr. Epstein.". The Beatles were devastated by their failed audition but Epstien secured them a contract with Parlophone Records. George Martin became their A&R Man. In August of 1962, Pete Best was replaced by Ringo Starr. 

Their first single "Love Me Do" was issued on October 5, 1962, and was a modest hit. 1963 and 1964 proved to be the most important years in their careers. In 1963 the "Beatlemania" craze had started in Britain and The Beatles were no longer support acts at concerts. Now they were starring in the Royal Variety Show and the highest rating TV show "Sunday Night At The London Palladium". 

Their biggest year was 1964 when they conquered the biggest record market in the world - America. The group became symbols. America was mourning the death of President John F. Kennedy and The Beatles appeared on the scene to bring them fun and excitement and end their mourning. They also brought back rock 'n' roll to America. After Elvis had join the army, he lost much of his early rebelliousness. Jerry Lee Lewis and Chuck Berry were rocked by scandals and their careers suffered. Buddy Holly, The Big Bopper and Ritchie Valens had been killed in an plane crash. The American media was promoting what The Beatles called "One-Hit-Wonders" such as Frankie Avalon, Tab Hunter, James Darren, etc. 

Ed Sullivan had been at London airport when The Beatles return from Sweden and saw all the girls screaming, the boys cheering and the media taking pictures. He knew they were something special and he booked them on his TV show "The Ed Sullivan Show". That show received the highest ratings in the history of television up to then. That same year The Beatles toured America for the first time and starred in their first motion picture "A Hard Day's Night". In 1965, The Beatles second motion picture "HELP!" premiered. Later that year, The Beatles performed at Shea Stadium in New York to a crowd of 55,000 screaming fans. The largest live audience in history. Their tours did have their darker moments. The first being in Tokyo, Japan where The Beatles were locked up in their hotel and were not allowed to come out until show time. The next was in the Philippines when, on a day off, Madam Marcos asked them to attend a Royal dinner. The Beatles politely turned down the invitation and the public was furious. The Bea
tles quickly left. 

In 1966, The Beatles were under heavy pressure from the press after John made a remark that The Beatles were more popular than Jesus. John had to apologize and explain himself several times. Not only that but their tour of America was plagued with mishaps. On August 19, 1966 they receive a death threat in Memphis and a firecracker went off during the show terrifying The Beatles. The next day in Cincinnati a concert promoter failed to provide a stage canopy and can't understand why The Beatles were unwilling to play electric guitars in a rainstorm. Paul becomes so agitated he becomes ill. On August 28, 1966 at Dodger Stadium, L.A. cops are seen beating teenage girls. Dozens are trampled in the chaos. 

During the sixties, The Beatles not only became a musical phenomenon, they affected the styles and fashions of the decade. They transformed the record industry as well. They brought about royalties for artists and producers, revolutionized music tours, and started the Pop promo film or what we know today as "The Music Video". Everyone of their albums, from Please Please Me to Abbey Road were all popular and unique in their own way. But after the death of their long time manager Brian Epstein, things would start to fall apart for The Beatles. 

Due to outside interests the group focused less and less and the band. In late 1964 they were introduced to marijuana and would experiment with more drugs such as LSD which they were first introduced to in late 1965. The Beatles played their last concert at Candlestick Park in San Francisco on August 29, 1966. In 1967, their manager Brian Epstein died of a accidental drug overdose. Some friction was caused between John and Paul because Paul was trying to become the leader of the group after Brian's death. Ties were still strong at this point between the band members despite Ringo leaving the band for a short time during The White Album because he felt left out. When Ringo decided to return he found his drum kit decked with flowers and the others tried to include him more. 

After The White Album they embarked on the "Let It Be" project. The idea was to see The Beatles jam, rehearse and record a whole new album of songs. At the end they would give a concert from some spectacular place. Tensions were high between Paul and George as they started recording at Twickenham Film Studios. John was off in his land of love with Yoko and Ringo was left in the background. One day George walked out on a session after a disagreement with Paul. George came back to finish up the album but as John would later explain, "We couldn't play the game anymore, we just couldn't do it". 

The Beatles gave their last public appearance on top of the Apple building on January 30, 1969. However their "Let It Be" album was deemed un-releasable. It was handed over to Phil Spector who added lush orchestrations to such songs as "The Long and Winding Road", infuriating Paul. Despite all of this, The Beatles decided to get together to make one final album "Abbey Road" which would go on to become their biggest selling record in history. It was mainly Paul who kept the group together this long, encouraging them to make Magical Mystery Tour back in 1967 after Brian's death and trying to get them all excited about recording and performing. Recording yes, performing no. From Sgt. Pepper's through Abbey Road these were considered to be their "studio years" where they rarely got together except to record. The Let It Be album was finally released on May 8, 1970 less than a month after Paul publicly announced he was no longer a member of the group. 

In the end, The Beatles became true legends. Their music touched all our lives. The Beatles wanted more than just to "Be Beatles", they wanted happiness. A happiness that they once had back when they first became successful. John found happiness with his one true love Yoko, his Plastic Ono Band, and son Sean; Paul found happiness with Linda, his children, and Wings; George found happiness with his solo career, Olivia, and his son Dhani; and Ringo found happiness with his solo career, acting career, Barbara, and his sons. They will always be the greatest rock 'n' roll band in history. 

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News Hour - Central Bank of India to cut interest rates on retail loans by 25-50 basis points

Joining the group of banks offering discounts on retail loans for consumers to avail during the festive season, the public-sector bank Central Bank of India has decided to lower the rate of interest on specific retail loans by 25-50 basis points. 

At the conference organised by the PHD Chamber of Commerce in New Delhi, the bank's Chairman and Managing Director M V Tanksale said, "We have decided to reduce the rate of interest on consumer loans for auto, consumer durables , education and a slab of the home loans between Rs. 30 lakh-75 lakh by 25-50 basis points." 

The move is meant to fuel growth on the retail side. The offer is only applicable on certain financial products and not on the base rate. The announcement will be effective from 1 September 2012. 

The Chairman was in Delhi to talk about increasing lending to Small and Medium Enterprises (SMEs). On the issue raised by K C Chakrabarty , Deputy Governor, Reserve Bank of India (RBI), on banks giving preferential treatment to the corporate sector in debt restructuring Tanksale said, "There are a couple of banks, including Central bank of India, who are not able to meet the 40% mark for priority sector lending, as directed by the RBI. We acknowledge that we have to redirect our focus towards SMEs and the priority sector lending to reach that level."
(Source: economictimes.indiatimes.com) 

Market Heatmap- 24th August, 2012

Market Heatmap
The major Equity indices started the day on a rather subdued note and successfully kept the same dull momentum going till the very end. Weakness in the global markets also weighed on the sentiment amid uncertainty about further policy intervention by leading central banks further added to the woes. The Sensex closed at the level of 17795.14 i.e., down by 55.08 points and the Nifty c

losed at the level of 5386.7 i.e., down by 28.65 points. This led the midcap and the small-cap counters to close negative by over half a percentage point each. On the sectoral front, except for FMCG, Healthcare and Auto indices, all the other indices closed in red. Realty index closed as the major loser with losses of over two and a half percentage points. Further, the market breadth closed weak as only four stocks were seen advancing for every seven declines.Find out more at :http://www.facebook.com/bmawealth?sk=app_206541889369118

Commodity Market Update (Copper)

Precious metals are trading in a very narrow range today. The actively traded contract on CMX is slightly lower on account of profit booking sentiments of traders after the superb rally in last few sessions. Gold and Silver prices are expected to take some corrective move for the day. Crude Oil is traded mixed since morning with no major move for the day. We expect prices to trade at the current level for rest of the session. Copper seems to be positive for the day a lower opening in the base metals was covered very soon by the gaining prices. Base metals traders will be looking for the US Core Durable and Durable Goods order data to be released today.

Happy Birthday Kolkata

Kolkata (Calcutta) celebrates its 322nd birthday today. A city better known for its Life, Passion, Culture and Heritage. BMA Wealth Creators is proud to be a part of this City and joins you in this celebration!

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Morning Summary- Market Synopsis- 24th August, 2012

Good Morning Everyone,
The key Indian equity benchmarks started the day on a subdued note and the same momentum is seen being carried-forward till now. The broader indices too are in the red, dragging the overall market into the negative territory. The Sensex is currently trading near the level of 17780 i.e., down by nearly 70 points and the Nifty is trading near the level of 5385 i.e., down by ne

arly 25 points. The midcap counters are trading negative by over half a percentage point and the small-cap counters are trading negative by a little less than half a percentage point. On the sectoral front, except for Healthcare & FMCG indices, all the other indices are trading in red. Realty & Capital Goods indices are leading the list of losers with losses of over a percentage point each. Further, the market breadth is negative as only one stock is seen advancing for every two declines.

Commodity Market Update (Natural Gas)

Precious Metals are trading sharply higher on COMEX today with Gold trading at 1665.0 and Silver at 30.37, its highest level since May – prices have finally broken out of the trading range and we expect prices to remain in the uptrend, a decline during intraday should be considered as a good opportunity to go longs on bullions. Gold is expected to touch 1700 a

nd Silver should face resistance around 31.50-32.00. Base Metals are also higher today with all of them gaining over a percent since morning, we expect prices to move higher during the day; copper prices are likely to test 430 odd levels this week. Energy prices are mixed today with Copper gaining almost a percent to trade at 98.30 per barrel while Natural Gas is down 0.50% to trade at 2.81 per mmBtu. Crude Oil is likely to move higher to test 100.0 while Natural Gas should remain in the current range.

Market Heatmap- 23rd August, 2012

A positive session ended on a sad note. The major Indian indices started the day on a strong note and were then seen moving higher near the crucial zones, however towards the end, they started declining and finally ended the session much below the highs. The Sensex closed at the level of 17856.64 i.e., up by 9.78 points and the Nifty closed at the level of 5415.35 i.e., up by 2.5 points. This led 

the midcap and the small-cap counters to close slightly negative. On the sectoral front, the indices closed mixed. IT and Teck indices closed as the major gainers with gains of over a percentage point each while Oil&Gas index closed as the major loser with losses of over a percentage point. Further, the market breadth closed flat as five stocks were seen advancing for every six declines.Find out more at :http://www.facebook.com/bmawealth?sk=app_206541889369118

News Hour- BSE IT Index gains in choppy market; TCS hits fresh 52-week high

NEW DELHI: The BSE IT index was the top gainer among the BSE sectoral indices in a choppy market on Thursday, led by sustained buying in Wipro, Tata Consultancy Services and Infosys.

Tata Consultancy Services surged to its 52-week high, which is also its lifetime high of Rs 1,320, followed by Wipro and Infosys which were up 2.6 per cent and 1.2 per cent, respectively, at 02:30 pm.

Among the sectoral gainers, the BSE It index moved 1.4 per cent higher followed by the BSE HealthCare Index and the BSE FMCG Index, which were up 0.6 per cent and 0.5 per cent, respectively.

Tata Consultancy Services was trading 1.8 per cent higher at Rs 1,315 on reports that Tata Sons is hiking stakes in group companies. The stock has advanced over 6 per cent in the month of August while for the year 2012 it has clocked a return of above 13 per cent.

"TATA group stocks such as Rallis India, TCS, Voltas, Indian Hotel and Tata Coffee are picking traction on reports Tata Sons is hiking stake in group companies and is value buying," A.K. Prabhkar, Senior Vice President - Equity Research at Anand Rathi, said.

Prabhkar sees further upmove in TCS with a target price of Rs 1,450 and expects the stock to outperform the markets in the next few months.

Technical Check: Ranajit Kumar Saha, senior manager, technical research at Microsec Capital Ltd

Infosys

After making a low of Rs 2,101.25 on 26th July, Infosys has given a sharp pull back rally of almost 17.5 per cent in a time span of just eighteen trading sessions.

This rally is expected to continue to Rs 2540. We recommend holding long positions in the stock with stop loss of Rs 2,404.

Tata Consultancy Services Ltd

TCS is in continuous uptrend since April 2012. The stock has made its life-time high of Rs 1,320 today and another 5-7 per cent upside is expected in near future.

We recommend holding the long positions with stop loss of Rs 1260.
(Source: economictimes.indiatimes.com)

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Morning Summary- Market Synopsis- 23rd August, 2012

Good Morning Everyone, 
The key Indian stock indices are trading with a positive bias, with the Sensex nearing the 18,000 milestone and the Nifty not too far away from the 5,450 mark. The broader indices too are up modestly. The Sensex is currently trading near the level of 17930 i.e., 85 by nearly 30 points and the Nifty is trading near the level of 5440 i.e., up by nearly 25 points. The midcap and the small-cap counters are trading positive by over half a percentage point each. On the sectoral front, except for Auto index, all the other indices are trading in green. Metal & IT indices are leading the list of gainers with gains of over a percentage point each. Further, the market breadth is also positive as seven stocks are seen advancing for every four declines.

Market Heatmap- 22nd August, 2012

Market Heatmap
The Indian markets consolidated in a small range and closed with slight losses. The Sensex closed at 17847, down by 38 points or 0.21% and the Nifty ended at 5413 down by 8 points or 0.15%. Sectorally, half of the indices closed above the equator with the other half closing in losses. Power and Realty were the worst hit and closed with over half a percentage point loss. On the other hand, Healthcare and Auto were leading the list of gainers and closed with moderate gains. The market breadth was slightly negative and seven stocks were seen advancing against every eight declines.Find out more at :http://www.facebook.com/bmawealth?sk=app_206541889369118

News Hour- FDI in multi-brand retail to harm Indian workers: Global report

NEW DELHI: FDI in multi-brand retail without adequate safeguards will lead to widespread displacement and poor treatment of Indian workers in logistics, agriculture and manufacturing, the government today cited a global report on Wal-Mart as having said.

Minister of State for Commerce and Industry Jyotiraditya Scindia informed the Rajya Sabha in a written reply, that Switzerland-based UNI Global Union has presented a paper on 'Wal-Mart's Global Track Record and the implication for FDI in multi-brand retail'.

"The paper dwells on the business practices of Wal-Mart in some countries and concludes that without adequate safeguards put in place, FDI in multi-brand retail will lead to widespread displacement and poor treatment of Indian workers in retail, logistics, agriculture and manufacturing," he said.

The US-based world's largest retailer Wal-Mart has already established its presence in the Indian marketthrough a wholesale cash and carry stores.

It is among several other global chains waiting for implementation of the government decision to permit 51 per cent foreign direct investment (FDI) in multi-brand retail.

The Cabinet decision of November 24, 2011 could not be implemented in the face of strong opposition from UPA ally Trinamool Congress and several state governments.

Scindia also said that 11 states and union territories have conveyed their support to the Centre for opening the sector to foreign investment.

In an another reply, Scindia said that a writ petition has been filed by Vandana Shiva, an NGO activist, in the Delhi High Court alleging that Bharti Wal-Mart and Bharti Retail are directly and indirectly carrying out retail trading in multi-brand in violation of the FDI policy.

"The matter is sub-judice," the minister said. Bharti Wal-Mart is a 50:50 joint venture between Wal-Mart Stores Inc and Bharti Enterprises that operates wholesale stores in India.

The company currently operates 17 wholesale cash-and- carry stores under Best Price Modern Wholesale stores in India.

(Source: economictimes.indiatimes.com)

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Morning Summary- Market Synopsis- 22nd August, 2012

Good Morning Everyone,
The Indian benchmark indices declined as speculators booked profit after two sessions of gains and amid a weak trend on other Asian bourses. Sensex was seen trading at 17855 with a loss of 30 points while Nifty declined by 10 points and was seen trading at 5411. Sectorally, most of the sectoral indices were seen trading with minor losses while some were seen trading in the green. Auto and Healthcare were the top gainers with half a percentage point gains. The market breadth was positive and six stocks were seen advancing against every five declines.

Market Heatmap- 21th August, 2012

The Indian Markets gained and the Nifty breached the 5400 milestone for the first time since March 16 while the Sensex also surpassed the 17800 mark. Both the indices registered gains of over one percent. India’s CPI inflation moderated to 9.86% yoy in July from 9.93% in June. Sectorally, except Healthcare all the other indices closed in the green. IT and Power gained by over 1.5 percentage points. The market breadth was positive and eight stocks were seen advancing against every six declines.Find out more at : http://www.facebook.com/

bmawealth?sk=app_2065418893
69118

News Hour- Sensex, Nifty close up 1%, clock 5-month high

NEW DELHI: The Sensex provisionally ended 193 points higher at 17,884 led by gains in HDFC, Infosys,ICICI Bank and TCS.

The 30-share BSE benchmark surged over 1 per cent in trade to hit its five-month high led by sustained buying in consumer good and auto shares after rains eased fears of drought.

Infosys (2.3 per cent), ICICI Bank (1.6 per cent), Sterlite Industries (up 4.7 per cent) and HDFC (2.3 per cent) led the gainers.

The 50-share Nifty was at 5,421, up 54 points or 1.02 per cent. It touched a high of 5,425.15 and a low of 5,368.70.

The BSE IT Index closed 1.7 per cent higher, the BSE Power Index gained 1.5 per cent and the BSE Auto Index ended 1.2 per cent while the BSE HealthCare Index closed flat.

(All figures are provisional)

(Source- economictimes.indiatimes.com)

Commodity Market Update (Silver)

Bullions are looking stronger, the actively traded Gold contract is trading up by 0.25% at $1625, well above its resistance $1620, however the prices are likely to test $1640 level in the coming session. Tra

ders’ bets for higher prices in Silver also, the previous session’s rally will prove to be a significant move for the Silver. The actively traded contract is higher by a percent since morning at $28.88 and is expected to mark a level of $29.5. Crude oil prices are likely to trade mixed where as Natural Gas may face resistance around the current level. On Base Metals Copper is the most active counter to recover its past losses and trading at $7530. We expect a range bound movement in base metals also. Lack of fundamental news may leave market silent for the day.

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