Morning Summary, Market Synopsis: 28th February, 2013

Good Morning Everyone,
The major Indian equity benchmarks started the day on a firm note with a gap up after US Federal Reserve Chairman downplayed the division in members' views on the central bank's stimulus plans and reiterated commitment to the same. After opening, benchmarks were trading sideways waiting for the union budget presentation to be done today. Hence traders are not willing to increase their commitment before budget.This led the Sensex to trade near the level of 19263.01 i.e. up by 110.60 points & the Nifty to trade near the level of 5826.3 i.e. up by 29.40 points. The Midcap index and the small cap index are trading with the gain of more than half a percentage point each. On the sectoral front, the indices are trading mixed with a positive bias. Realty Index is trading as the major gainer with gains of more than one and one-third of a percentage point. This is followed by Capital Goods Index which is trading with the gains of nearly one and a quarter of a percentage point. On the other hand, Consumer Durables Index is the biggest looser with the loss of just six basis points of a percentage.



Further, the market breadth is positively placed as two stocks are seen advancing against each declining stock.

News Hour: "Budget 2013" Will it be sweet or bitter?

NEW DELHI: Deep in the bowels of the imposing North Block here, scores of men have been busy making 'halwa' -- sweet or bitter will only be known whenFinance Minister P Chidambaram unveils the Union Budget tomorrow.

The story is that the top Finance Ministry officials every year participate in a ceremony of making a metaphorical 'halwa' just before being quarantined to give final shapes to the Budget.

While there is no official word on this 'halwa', which has a veil of secrecy to it, just like the main budget, it is said that the sweet dish is considered as a 'shagun' or good omen for the humongous tasks associated with this annual event.

The Budget press, which prints hundreds of reams of pages, is located in the basement of the high-security North Block, which gets further fortified during the Budget preparation. The printing is supervised by technical staff drawn from government presses.

So is the secrecy that government officials involved in the process of making Budget are not allowed to take their cellphones inside, leave alone meeting visitors. The Finance Ministry becomes out of bounds not only for journalists, who otherwise enjoy an easy access, but also for the usual visitors to the Ministry.

A complete quarantine of select officials and technicians is put in place about 10 days before the Budget presentation in Parliament. The printing is normally completed by February 24-25 and the documents are transferred to Parliament premises in the dead of the night on the eve of the Budget Day.

After being presented in Parliament tomorrow, the Budget would be discussed by lawmakers over coming months.

The Budget is likely to be passed by May, ending an over eight-month process that began on September 14, 2012.

It is on this date that the Finance Ministry issued its annual Budget Circular for the upcoming Union Budget. The circular informed all the ministries and departments about the start of Budget process and sought their inputs for the same.

This was followed by the Budget Division of Finance Ministry coordinating with various ministries and departments with regard to their revenue receipt budgets during October and November months.

The details of expenditure budget and estimates of borrowings and revenue were discussed during December and initial days of January.

The Finance Minister also began his consultations with sectoral representatives in January and met economists, trade unions, industry leaders and regulators among others.

In the meantime, ministries sent their plan estimates.The budget division, which is part of the Department of Economic Affairs in the Finance Ministry, compiles the broad framework for the bulky Budget documents.
(source: economictimes.indiatimes.com)

Closing Summary, Market Synopsis: 27th February, 2013

The Indian benchmarks ended on a strong note on February 27, 2013. They opened with the gap up on the back of strong international cues and after initial blip started their journey northward. The Economic Survey was tabled today and suggested that the economic downturn may have run its course. This gave the required Philip to the market. On the other hand Midcap shares continued to be under pressure as cash-strapped traders unwound their positions, unable to pay the margins required to hold them. The Sensex closed at the level of 19152.41 i.e. up by 137.27 points and the Nifty closed at the level of 5796.9 i.e. up by 35.55 points. The midcap index and the small-cap index closed in green with the gain of nearly three –forth of a percentage point and two-tenth of a percentage point respectively. On the sectoral front, the indices closed mixed. Capital Goods Index closed as the major gainer with gains of two and four-tenth of a percentage point. This was followed by Realty Index which closed with the gains of more than two and one-tenth of a percentage point. On the other hand, IT Index was the biggest looser with the loss of nearly one percentage point followed by Teck Index, which closed with the loss of nearly quarter of a percentage point.
Further, the market breadth closed in positive as eight stocks were seen advancing against seven declining stocks. 

Commodity Market Update(Crude Oil)

On COMEX, precious metals are trading lower since morning after the last session’s steep gain due to dovish comment from US Federal Reserve chairman Ben Bernanke, continued to support QE measures. The actively traded Gold contract is trading in red at $1608.90, down by $6.50 or 0.40% while front month Silver futures fell 0.39% to trade at $29.205 an ounce. NYMEX Oil prices are trading higher at $92.92, up by 0.32% while Natural Gas is trading silent at $3.45 with a negative bias. Oil traders are waiting for EIA’s Crude Oil Inventory report, is set to release tonight at 9.00PM with a market forecast of 2.4 million barrels. Base metals are trading slightly higher on the LME except Zinc, is losing 0.29% to trade at $2092.25 while Copper is trading in green at $7871.75 per metric ton.

Data to watch:
US Core Durable Goods Orders
US Fed Chairman Ben Bernanke Testifies
US Crude Oil Inventories
ECB President Draghi Speaks

BMA Commodity Gyaan : Production of Lubricating oil

BMA iQ

Do you expect income tax slabs to be revised in the budget?
1. Yes
2. No
3. Can't Say

Morning Summary, Market Synopsis : 27th February, 2013

Good morning everyone,
The major Indian equity benchmarks started the day on a firm note after Bernanke defended the central bank's bond buying plan, and on positive economic data from the US. The gains made could not be sustained and selling pressure around opening level pushed the benchmark down. Some of the pre-Budget sell-off in last couple of days in midcaps was due to funding crisis in local market leading to liquidating of pledged funds. The market participants are now waiting for the Economic survey to be presented today. This led the Sensex to trade near the level of 19043.82 i.e. up by 28.68 points & the Nifty to trade near the level of 5765.35 i.e. up by 4 points. The Midcap index and the small cap index are trading with the loss of nearly half a percentage and four-tenth of a percentage point respectively. On the sectoral front, the indices are trading mixed. FMCG Index is trading as the major gainer with gains of more than nine-tenth of a percentage point. This is followed by Capital Goods Index which is trading with the gains of more than seven –tenth of a percentage point. On the other hand, Auto Index is the biggest looser with the loss of more than nine-tenth of a percentage point.

Further, the market breadth is negatively placed as two stocks are seen advancing against three declining stocks.

Closing Summary, Market Synopsis: 26th February, 2013

Closing Market Synopsis
The Indian benchmarks ended on a drastically weak note on February 26, 2013. They opened with the gap down on the back of weak international markets due to outcome of Italian election which has resulted in a hung parliament . There were wide spread worries that the European debt crisis could be extended owing to emerging political uncertainty in Italy. As a result of this the markets across the globe went in to risk off mode. The European markets were rattled. Even the Railway budget presented today disappointed the Indian market. All these led the Sensex to close at the level of 19015.14 i.e. down by 316.55 points and the Nifty to close at the level of 5761.35 i.e. down by 93.40 points. The midcap index and the small-cap index closed in red with the loss of nearly two and half a percentage point and one and three-forth of a percentage point respectively. On the sectoral front , most of the indices except two closed in red. IT Index closed as the major gainer with gains of nine-tenth of a percentage point. This is followed by Teck Index which closed with the gains of more than three-forth of a percentage point. On the other hand, Oil & Gas Index was the biggest looser with the loss of more than three percentage point followed by Auto Index, which closed with the loss of two and three-forth of a percentage point.

Further, the market breadth closed in negative as one stock was seen advancing against five declining stocks.

Commodity Market Update (Silver)

Gold prices are trading higher today with near month contract on COMEX is trading at $1594.00 an ounce up by 0.55% while Silver futures is trading down by 0.52% at $29.89 at the time of writing this. We expect prices to remain in a range with a positive bias for the day. Base metals are trading in red with Nickel leading the counter, down by 1.25% at $16500.00 whereas Copper is trading down by 0.30% at $7811.75. On NYMEX Crude Oil is trading lower by 0.85% at $92.32 while Natural Gas is trading up by more than a percent at $3.44. contents

BMA Commodity Gyaan : Global Usage of Oil

Morning Summary, Market Synopsis: 26th February, 2013

Good Morning Everyone,
The major Indian equity benchmarks started the day on weak note with a gap down. This was on the back of international cues, where US indicies went down to their lowest levels since November on Monday as Italian elections reflected marginally higher support for parties opposed to economic reforms. The benchmarks quickly lost ground after opening on sustained selling pressure. However in our markets investors will primarily remain focused on the announcements in the Railway Budget for 2013-14 (Apr-Mar) today. This led the Sensex to trade near the level of 19217.22 i.e. down by 114.47 points & the Nifty to trade near the level of 5822.15 i.e. down by 32.6 points. The Midcap index and the small cap index are trading with the loss of nine - tenth of a percentage point and three-forth of a percentage point respectively. On the sectoral front , most of the indices are trading in red. Teck Index is trading as the major gainer with gains of more than three-forth of a percentage point. This is followed by IT Index which is trading with the gains of more than one – third of a percentage point. On the other hand, Auto Index is the biggest looser with the loss of more than one and one-third of a percentage point followed by Capital Goods Index, which is trading with the loss of one and a quarter of a percentage point.
Further, the market breadth is negatively placed as one stock is seen advancing against three declining stocks.

Commodity Market Update (Gold)

Precious metals are trading higher today, the near month Gold contract on COMEX is trading higher by a percent or $16.50 to trade at $1589.00 trading near its intraday resistance of $1595.00 an ounce. Silver futures is at $29.00, up by half a dollar or 1.68% at the time of writing this. Base metals are trading mixed with Copper on LME is adding half a percent or $44.00 to trade at $7845.00 while Nickel is trading in red, down by 0.70% at $16856.00. Crude Oil and Natural Gas prices are trading positive today, with Crude Oil at $93.61, up by 0.52% and Natural Gas at $3.35, up by 1.91% since morning.

BMA commodity Gyaan: Crude Oil Reserves

BMA Success Mantra: 25th February, 2013

BMA Iq : 23rd February, 2013

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Commodity Market Update (Copper)

Precious metals are trading flat today, the actively traded Gold on CMX is at $1580.65, up by almost $5.00 or 0.29% while Silver is trading higher by half a percent or 15 cents to trade at $28.87. A stronger rupee by 29 paise or 0.54% had weighed on domestic prices to remain sharply lower with MCX Gold for near month delivery at Rs.29583.00, down by 162 points while Silver trading at Rs.53860.0. Base metals are trading mixed with LME 3-month Aluminum $2064.00 down by $11.75 or 0.55% while all other metals are trading positive. Copper is trading at $7868.25, up by just 0.09% or 7 points at the time of writing this. Oil and Natural Gas futures on NYMEX are trading slightly higher at $93.07 and $3.25up by 0.27% each.

Market Synopsis, Closing Summary: 22nd February, 2013

The Indian benchmarks ended on a flat note on February 22, 2013. After opening, the benchmarks recovered during the day on short covering. However, they could not sustain the gains made and started drifting down slowly but inevitably and finally settled flat. This was the fourth successive weekly loss as traders and investors refrained from major commitments ahead of the Budget . However leveraged positions in the market have reduced considerably in the last few weeks, laying the ground for a possible rally if the Budget has some positive surprises in store. All this led the Sensex to close at the level of 19317.01 i.e. down by 8.35 points and the Nifty to close at the level of 5850.30 i.e. down by 1.95 points. The midcap index closed marginally in green with the gain of a two basis points of a percentage and the small-cap index also closed in green with the gain of one-tenth of a percentage point. On the sectoral front the indices closed mixed .Realty Index closed as the biggest gainer with the gains of more than one and one-third of a percentage point. This was followed by Teck Index which closed with the gain of one and one-third of a percentage point. On the other hand FMCG Index and Auto Index closed as the biggest looser with the loss of one and four-tenth of a percentage point and more than half a percentage point respectively.

Further, the market breadth closed neutral as one stock was seen advancing for each declining stock.

BMA Commodity Gyaan : Usage of Crude Oil in different Sectors

Morning Summary, Market Synopsis: 22nd February, 2013

Good Morning Everyone, 
The major Indian equity benchmarks started the day on a weak note tracking the fall in overseas market. However they soon recovered and started trading in green. The markets in US ended down on Thursday on fears of an end to US Federal Reserve's quantitative easing, dismal weekly jobless claims, and a drop in the Federal Reserve Bank of Philadelphia's general economic index. All this had its impact on the market. Any recovery in indices may be short-lived as investors would keep positions light ahead of the Union Budget next week. This led the Sensex to trade near the level of 19314.28 i.e. down by 11.08 points & the Nifty to trade near the level of 5842.9 i.e. down by 9.35 points. The Midcap index is trading with the loss of twelve basis points of a percentage while the small cap index is trading with the gain of three basis points of a percentage . On the sectoral front , the indices are trading mixed. Teck Index is trading as the major gainer with gains of more than one and one-tenth of a percentage point. On the other hand, Consumer Durables Index is the biggest looser with the loss of nearly one and two-tenth of a percentage point. This is followed by Auto Index which is trading with the loss of nearly one and one –tenth of a percentage point.
Further, the market breadth is negatively placed as two stocks are seen advancing against three declining stocks.

Market Synopsis, Closing Summary: 21st February, 2013

The Indian benchmarks ended on a strongly negative note on February 21, 2013. Post ,opening with the gap down on the back of overnight fall on Wall Street after minutes of the US Federal Reserve's latest meeting triggered uncertainty about continuity of the central bank's stimulus plan, benchmarks were seen going down further. In the later half, a new low was formed every hour. The carnage was wide spread and nervous selling was seen across the market with high turnover. Benchmarks suffered their biggest loss in last seven months. The unwinding of derivatives trades could have been one of the major reasons for the collapse. All these led the Sensex to close at the level of 19325.36 i.e. down by 317.39 points and the Nifty to close at the level of 5852.25 i.e. down by 90.80 points. The midcap index and the small cap index closed in red with the loss of one and six-tenth of a percentage point and one and three-forth of a percentage point respectively. On the sectoral front , except for Consumer Durables Index all the indices closed in red . Consumer Durables Index just closed in to positive with the gain of just four basis point of a percentage. On the other hand Metal Index closed as the major looser with the loss of three and a quarter of a percentage point. This was followed by Bankex Index which closed with the loss of more than two and half a percentage point.

Further, the market breadth closed negative as one stock was seen advancing for four declining stocks.

BMA Commodity Gyaan : Global Usage of Crude Oil

Morning Summary, Market Synopsis: 21st February, 2013

Good Morning Everyone,
The major Indian equity benchmarks started the day with a gap down on the back of f overnight fall on Wall Street after minutes of the US Federal Reserve's latest meeting triggered uncertainty about continuity of the central bank's stimulus plan. After opening, selling pressure multiplied and forced benchmarks to trade at lower levels. This carnage led the Sensex to trade near the level of 19471.84 i.e. down by 170.91 points & the Nifty to trade near the level of 5895.05 i.e. down by 48 points. The Midcap index and the Small Cap index are trading in red with the loss of more than eight-tenth of a percentage point each. On the sectoral front , all the indices are trading in red excepting consumer durables and IT index. Consumer Durables Index is trading as the major gainer with gains of more than four-tenth of a percentage point. On the other hand, Metal Index is the biggest looser with the loss of one and eight-tenth of a percentage point. This is followed by Capital Goods Index which is trading with the loss of nearly one and a half percentage point.
Further, the market breadth is negatively placed as three stocks are seen advancing against ten declining stocks.

Commodity Market Update (Crude Oil)

Gold futures on CMX is trading flat at $1605 with a minor gain of $1.5 or 0.08% while Silver prices are at $29.56, up by 13 cents or half a percent at the time of writing this. Prices are likely to trade in a range with a negative bias for the day. Base metals across the LME is trading mixed with Nickel extending its previous session’s decline and trading at $17297, lower by 93 points or 0.31% while other metals are trading marginally higher since morning. NYMEX Crude Oil and Natural Gas are trading marginally higher today; Crude futures are at $96.96 adding 0.30% or 30 cents and Natural Gas is at $3.287, up by almost half a percent.

BMA Commodity Gyaan : Crude Oil

Get ready to enlighten yourself,
Coming up from tomorrow..

BMA Success Mantras : 20th February, 2013

Market Synopsis, Market Heatmap: 19th February, 2013

The Indian benchmarks ended on a strong positive note on February 19, 2013. After opening flat, benchmarks were seen moving in narrow band for practically the whole of the day. It was in the last hour that benchmark moved sharply up and closed almost at the high of the day. This way, benchmarks closed at the two week highs.. All these led the Sensex to close at the level of 19635.72 i.e. up by 134.64 points and the Nifty to close at the level of 5939.72 i.e. up by 41.50 points. The midcap index and the small-cap index closed in green with the gain of one and one-tenth of a percentage point and nearly one percentage point respectively. On the sectoral front all the indices closed in green . Realty Index closed as the biggest gainer with the gains of nearly two percentage point. This was followed by IT Index which closed with the gain of one and six-tenth of a percentage point. On the other hand Consumer Durables Index and Capital Goods Index closed as the least gainer with the gain of quarter of a percentage point and one –third of a percentage point erespectively.

Further, the market breadth closed positive as two stocks were seen advancing for each declining stock.

Commodity Market Update (Silver)

Precious Metals are trading in green today; Gold is up 1.8 at 1611.30 and Silver is higher by 13 cents to trade at 29.98. On MCX, prices are unchanged since last closing. The currency market is also closed which should lead to aligned moves in domestic prices with its international counterparts. The bias on precious metals remains neutral. Base Metals on LME are trading sharply lower after trading in a range last evening. Copper is down 2 points at 440.40 while Nickel is down 13.20 at 956.70. Prices are likely to continue trading with a negative bias in the evening. Crude Oil is trading at 95.46, down 40 cents while Natural Gas is higher by a percent at 3.188. We maintain a neutral view on Oil and Gas today.

No Major Economic Releases.

BMA Commodity Gyaan : Copper usage in USA

Which sector do you think will perform in 2013?

FMCG

• +4

Energy

• +3

Technology

• +1

Healt Care

Automobiles

Morning Summary, Market Synopsis: 19th February, 2013

Good Morning Everyone, 
The major Indian equity benchmarks started the day flat and after opening, markets are completely sluggish. Traders have taken positions on either side according to their market view and are not interested to increase or reduce their positions because of impending budget announcement. US markets were closed yesterday, hence , there was an absence of global cues to guide the market. All this led the Sensex to trade near the level of 19491.03 i.e. down by 10.05 points & the Nifty to trade near the level of 5893.9 i.e. down by 5.10 points. The Midcap index and the Small Cap index are trading in green with the gain of nearly half a percentage point each. On the sectoral front , the indices are trading mixed . Healthcare Index is trading as the major gainer with gains of nearly seven-tenth of a percentage point. This is followed by Power Index which is trading with the gains of a quarter of a percentage point. On the other hand, Oil & Gas Index is the biggest looser with the loss of more than a quarter of a percentage point.
Further, the market breadth is positively placed as three stocks are seen advancing against two declining stocks.

News Hour : Sebi probes large-scale 'pump-and-dump' of stocks

NEW DELHI: A large number of 'pump-and-dump' activities in stocks has come under the scanner ofmarket regulator Sebi, which suspects certain brokers and other entities of luring small investors into artificially high trade volumes. 

The surge in these manipulative activities, known as 'pump-and-dump' in market parlance as they involve sudden sale of shares after creating huge volumes with significant buying activities, has been noticed by Sebi's Data Warehousing and Business Intelligence System (DWBIS). 

The system has now begun providing "pattern recognition algorithms" to monitor the trade and order data received by Sebi in order to identify networked clients who possibly collectively indulge in violations of securities laws. 

A senior official said that alerts of high materiality are being generated by the DWBIS, pursuant to which Sebi has detected possible market violations through activities such as pump-and-dump, insider trading and front running. 

The pump-and-dump cases have been found to be quite frequent in certain mid-cap stocks, especially from the infrastructure sector, he added. 

These stocks are mostly of those companies that have been in news for problems relating to their funding plans, the official said, but did not specify the names. 

The modus operandi generally starts with huge buy orders alongside circulation of positive news about resolution of long-pending problems at those companies, followed by large- scale sale of the same shares at a later stage, he said. 

Besides detecting the possible cases of market manipulation, Sebi's DWBIS tools are also helping it to build linkages between various transactions and activities of the networked entities. 

The official said that DWBIS is providing Sebi with a capability to query and perform analytics on vast amounts of data and obtain the desired output in a timely manner. 

Sebi has so far implemented two phases of the ambitious DWBIS project and the third phase is currently being tested for live implementation and the tools available in this system are proving very useful in catching the manipulators at an early stage, the official said. 

The first phase was implemented in early 2011 for speedy analysis of data and identification of possible violations by use of modern technology in terms of computation. 

The third phase would help Sebi meet data requirements of its research department. This phase would incorporate in-house and outside data related for research purposes, such as financials of companies, transactions, primary market data, mutual funds, corporate actions, takeover and buyback information. 
(Source: economictimes.indiatimes.com)

Market Synopsis, Market Heatmap: 18th February, 2013

The Indian benchmarks ended on a slightly positive note on February 18, 2013. After opening at the similar levels as that of previous day’s close, market moved in a band in the early hours of trade. They soon made a low and started trading with slightly positive bias. In the later half, the benchmarks also gained some momentum However, they could not sustain the gains and slipped a bit before closing. Public sector companies such as MMTC and Hindustan Copper gain 9.5 percent and 4.5 percent respectively on hopes of good demand in the upcoming stake sales by the government. This led the Sensex to close at the level of 19501.08 i.e. up by 32.93 points and the Nifty to close at the level of 5898.2 i.e. up by 10.80 points. The midcap index and the small-cap index closed in green with the gain of four-tenth of a percentage point and seven-tenth of a percentage point respectively. On the sectoral front the indices closed mixed . Realty Index closed as the biggest gainer with the gains of more than two percentage point. This was followed by Capital Goods Index which closed with the gain of one and two-tenth of a percentage point. On the other hand IT Index and Teck Index closed as the biggest looser with the loss of nearly half a percentage point each.

Further, the market breadth closed negative as three stocks were seen advancing for two declining stocks.

Commodity Market Update (Gold)

Gold on CMX is trading positive by 4 points or 0.25% at $1613.10 while Silver is trading higher by half a percent or 15 cents at $30.00. On domestic market, Gold prices are trading flat with a nominal gain of just 16 points at Rs.30210.00 while Silver is at Rs.56285.00, up by 200 odd points. Prices are likely to remain in a range due to lack of economic releases to set moves for Gold and Silver. Base metals are trading sharply lower today; 3-month Copper on LME is at $8134.00, down by 0.88% or $72 and Nickel is the top loser to ease 1.66% or more than $300.00 at the time of writing this. On NYMEX, Oil and Gas are trading flat with some nominal change till now. Crude futures are trading lower by 0.23% at $95.64 while Gas futures are higher by 0.25% at $3.161.

Morning Summary, Market Synopsis: 18th February, 2013

Good Morning Everyone,
The major Indian equity benchmarks started the day almost at the similar level as that of previous day’s close. Earning season is mostly behind us. Most of the economic data are announced. Now the traders are waiting for the announcement of budget . This is the next trigger which can give a direction to the market movement. Till now the market is sluggish. All this led the Sensex to trade near the level of 19502.88 i.e. up by 34.73 points & the Nifty to trade near the level of 5892.55 i.e. up by 5.55 points. The Midcap index and the Small Cap index are trading in green with the gain of six- tenth of a percentage point and nearly a quarter of a percentage point respectively. On the sectoral front , the indices are trading mixed . Realty Index is trading as the major gainer with gains of nearly one and a half a percentage point. This is followed by PSU Index which is trading with the gains of three-forth of a percentage point. On the other hand, Consumer Durables Index is the biggest looser with the loss of more than six-tenth of a percentage point.

Further, the market breadth is positively placed as nine stocks are seen advancing against five declining stocks.

BMA IQ: 16th February, 2013

Post your answers below..

"The Nightingale of India" , Sarojini Naidu

Life
Sarojini Naidu was born on February 13, 1879 in Hyderabad. Her father, Dr. Aghornath Chattopadhyaya was a scientist, philosopher, and educator. He founded the Nizam College of Hyderabad. Her mother, Varada Sundari Devi was a Bengali poetess. Dr. Aghornath Chattopadhyaya was the first member of the Indian National Congress in Hyderabad. For his socio-political activities, Aghornath was dismissed from his position as Principal.

Since childhood, Sarojini was a very bright and intelligent child. Though Aghornath wanted his daughter to become a mathematician or scientist, young Sarojini was fond of poetry. At an early age, she wrote a "thirteen-hundred-lines" long poem "The Lady of the Lake". Impressed with her skills of expressing things with appropriate words, Aghornath Chattopadhyaya encouraged her works. Few months later, Sarojini, with assistance from her father, wrote the play "Maher Muneer" in the Persian language. 

Sarojini's father Dr. Aghornath Chattopadhyaya distributed some copies of the play among his friends and relatives. He also sent a copy to the Nizam of Hyderabad. Impressed with the works of the little child, the Nizam granted her a scholarship to study overseas. At the age of 16, she got admission in the King's College of England. There, she had the opportunity to meet prominent English authors like Arthur Simon and Edmond Gausse. It was Gausse who asked Sarojini Naidu to write on the Indian themes like great mountains, rivers, temples, social milieu etc. 

After returning to India, at the age of 19, Sarojini Naidu married Muthyala Govindarajulu Naidu. He was a noted doctor from South India. They were married by the Brahmo Marriage Act (1872), in Madras in 1898. The marriage took place at a time when inter-caste marriages were not allowed and tolerated in the Indian society. Her marriage was a very happy one. They had four children. 

National Movement
Sarojini Naidu was moved by the partition of Bengal in 1905 and decided to join the Indian freedom struggle. She met regularly with Gopal Krishna Gokhale, who later introduced her to the stalwarts of the Indian freedom movement. She met Mahatma Gandhi, Pandit Jawaharlal Nehru, C. P. Ramaswami Iyer and Muhammad Ali Jinnah. With such an encouraging environment, Sarojini later moved on to become leader of the Indian National Congress Party. She traveled extensively to the United States of America and many European countries as the flag-bearer of the Indian Nationalist struggle. 

During 1915, Sarojini Naidu traveled all over India and delivered speeches on welfare of youth, dignity of labor, women's emancipation and nationalism. In 1916, she took up the cause of the indigo workers of Champaran in the western district of Bihar. 

In March 1919, the British government passed the Rowlatt Act by which the possession of seditious documents was deemed illegal. Mahatma Gandhi organized the Non-Cooperation Movement to protest and Naidu was the first to join the movement. Besides, Sarojini Naidu also actively campaigned for the Montagu-Chelmsford Reforms, the Khilafat issue, the Sabarmati Pact, the Satyagraha Pledge and the Civil Disobedience Movement. 

In 1919, she went to England as a member of the all-India Home Rule Deputation. In January 1924, she was one of the two delegates of the Indian National Congress Party to attend the East African Indian Congress. In 1925, she was elected as the President of the Indian National Congress Party.

Poet
Besides her role and sacrifices in the Indian Nationalist Movement, Sarojini Naidu is also commended for her contribution in the field of poetry. Her works were so beautiful that many were transformed into songs. In 1905, her collection of poems was published under the title "Golden Threshold". Later, she also published two other collections called "The Bird of Time", and "The Broken Wings".

Death
Sarojini Naidu was the first woman Governor of Uttar Pradesh. Her chairmanship of the Asian Relations Conference in 1947 was highly-appraised. Two years later, on 02 March 1949, Sarojini Naidu died at Lucknow, Uttar Pradesh.

(Source:www.culturalindia.net)

Market Synopsis, Market Heatmap: 15th February, 2013

The Indian benchmarks ended on a slightly weak note on February 15, 2013. After opening, the benchmarks started drifting down slowly but inevitably. However at the lower levels, short covering and some buying in index majors helped benchmarks recover some losses of the day. Thus benchmarks have closed at the lowest level for 2013 as they have erased the year’s gain on earning concern. Some of the biggest Indian companies have missed the analyst’s expectation. This led the Sensex to close at the level of 19468.15 i.e. down by 29.03 points and the Nifty to close at the level of 5887.40 i.e. down by 9.55 points. The midcap index closed in green with the gain of a quarter of a percentage point and the small-cap index closed in red with the loss of six-tenth of a percentage point. On the sectoral front the indices closed mixed but with negative bias . Auto Index closed as the biggest gainer with the gains of four -tenth of a percentage point. This was followed by Bank Index which closed with the gain of two -tenth of a percentage point. On the other hand Oil & Gas Index and IT Index closed as the biggest looser with the loss of eight-tenth of a percentage point and more than half a percentage point respectively.

Further, the market breadth closed negative as two stocks were seen advancing for three declining stocks.

Commodity Market Update (Copper)

Precious metals are trading lower today Gold futures are at $1629.10, down by $6.3 or 0.40% and Silver is at $30.22, down by 0.42% at the time of writing this. We expect Gold to face support near $1625.0 while support for Silver comes at $30.0. On base metals the view remain neutral as the prices are trading in a tight range since past few session. Copper is at $8239.25, unchanged since last settlement. Crude and Natural Gas on NYMEX are trading in red with Oil prices lower by 0.45% at $96.86 while Natural Gas is trading down by a percent at $3.13.

Morning Summary, Market Synopsis: 15th February, 2013

Good Morning Everyone,
Indices were down 0.3% on weak cues from Asian markets, and the laggards included auto, real estate, and information technology stocks. DLF was the worst hit on Nifty as it fell 2.1% on lower-than-expected Oct-Dec earnings. Tata Motors lost nearly 2% whereas Suzlon Energy slumped over 10% on disappointing numbers. A hike in foreign institutional investment limit aided a 1% rise in Apollo Tyres. GAIL was up 0.10% on its better-than-expected Oct-Dec net profit. Several bank shares rebounded on short covering after Thursday's fall, while Bharat Petroleum Corp, up 1.2%, was the top gainer on Nifty. Outperforming sectors are Capital goods & FMCG.

Saraswati Puja

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BMA Wealth Creators wishes You and your Family a very Happy Saraswati Puja.

BMA Commodity Gyaan : Domestic Usage of Copper

Commodity Market Update: (Natural Gas)

On COMEX, precious metals are trading slightly negative since morning with Gold trading at $1642.50, down by couple of dollars or 0.15% an ounce while Silver is trading in red at $30.78, lower by 8 cents or 0.29% after having a sideways trading session. LME base metals are trading mixed due to lack of economic indicators from the world largest economy. 3-month Copper rolling contract is trading in red at $8228.75 with a meager decline of $6.75 while Aluminum is the top performing metal among the groups, adding 0.68% to trade at $2153.0. Energy prices are trading mixed on New York Mercantile Exchange with Crude Oil trading at $97.18, up 17 cents while Natural Gas is trading almost flat at $3.30 with a negative bias. US Energy Information Administration is set to release its weekly storage report tonight at 9.00PM with a market forecast of -166 billion cubic feet against the previous of -118 billion cubic feet. On domestic bourses, commodities are trading in a small range with its international counterparts.

Economic Releases:

US Unemployment Claims
US Natural Gas Storage