1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Thursday, January 12, 2012
Domestic Markets Snapshot Views on markets today
Name of Index Jan 10 Jan 11 Change (%) • Indian markets registered small gains yesterday to
Sensex 16,165.09 16,175.86 0.07%
attain their highest level in more than 4-1/2 weeks
ahead of industrial output data and quarterly results of
CNX Nifty 4,849.55 4,860.95 0.24%
Infosys and HDFC. The market regained positive
BSE Mid-cap 5,451.08 5,505.52 1.00% terrain after slipping into the red after hitting one-
BSE IT 5,916.47 5,832.20 -1.42% month high at the onset of the trading session. The
BSE Banks 10,027.62 10,140.36 1.12% key benchmark indices alternately moved between the
positive and negative terrain in morning trade. The
FII Activity (`Cr) market trimmed gains after strengthening in mid-
Date Buy Sell Net morning trade. The upward movement was mainly led
10-Jan 2,783 2,378 405 by gain in real estate, metal, oil & gas and banks
9-Jan 1,789 1,777 12
stocks while IT and FMCG stocks witnessed some
selling pressure. Retailers rallied a day after the
Total Jan 12,340 10,805 1536
government formally eliminated restrictions on foreign
2012 YTD 12,340 10,805 1536 investment in the single-brand retail sector, raising
MF Activity (`Cr) hopes that rules for multi-brand retail will also be
liberalised soon. Interest rate sensitive realty and
Date Buy Sell Net
banking stocks rose on expectations that the Reserve
10-Jan 508 441 67 Bank of India (RBI) will start cutting interest rates in
9-Jan 253 220 33 the coming months to prop up slowing economy. Metal
Total Jan 2556 2591 -35 stocks rose amid continued anticipation of further
2012 YTD 2,556 2,591 -35
monetary policy easing from China. Suzlon Energy
rose 4.33% after it said its Brazilian unit got an order
Volume & Advances / Declines to set up, run and maintain a 24 megawatt wind power
NSE BSE project.
Trading Volume (Cr) 79.83 28.75 • Market breadth was strong at ~1.96x as investors
Turnover (`Cr) 11,716 2,621 bought large cap stocks. On provisional basis, FIIs
bought equities worth `4.31bn while domestic
Advances 1,030 1,868
institutions sold equities of `1.82bn.
Declines 471 951
• Asian markets are mixed today, following the flat cues
Unchanged 54 117
from the US markets. Japanese stocks fall, after a
Total 1,555 2,936 sharp correction in current-account surplus by 86%
Global Markets while Chinese stocks are positive, after inflation eased
slightly for previous month.
Index Latest Values Change (%)
DJIA 12,359.92 -0.5%
• We expect a cautious opening for the Indian markets,
ahead of the earnings of Infosys and HDFC and index
NASDAQ 2,674.22 0.2%
of industrial production data. IIP is likely to grow for
Nikkei * 8,390.35 -1.2% November 2011, after a sharp decline of 5.1% in
Hang Seng * 18,593.06 -1.2% October 2011, according to Reuters Poll of economists.
* as of 8.25AM IST Economic and Corporate Developments
Currencies / Commodities Snapshot • Industrial output is expected to rise 2.2% in Nov. 2011
Latest Previous • The government has told refiners to reduce Iranian oil
Quote Close
imports and find alternatives as New Delhi may not
Indian Rupee per $ 51.90 51.71 seek a waiver that would protect buyers of Tehran's oil
Indian Rupee per € 66.03 65.95 from a fresh round of US sanctions.
NYMEX Crude Oil($/bbl) 101.45 100.87 • Non-food credit offtake went up by just 16.1% to
Gold ($/oz) 1,644.70 1,639.60 `44.99 lakh crore during the year ended December 30,
Silver ($/oz) 30.04 29.89 2011, reflecting the impact of the high interest rate
regime.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group) • Nalco officers to go on hunger strike from January
Previous Current Change 30.
Company Name
Close(`) Price(`) (%) • Reliance Communications, which has a $925mn
HDIL 62.55 70.80 13.19
convertible bonds maturing in March in loan talks
ADANI POWER 69.10 77.15 11.65
with Chinese bank.
Wockhardt 304.10 336.85 10.77
• Subhiksha promoter files `500Cr defamation case
Adani Enter 283.40 312.05 10.11
against Azim Premji.
IB Real Est 52.40 56.15 7.16
• FY12 order inflows for L&T may decline 6-9%,
(BSE Mid-Cap) according to analysts.
Previous Current Change • ITC expects food business growth to slow in FY13.
Company Name
Close(`) Price(`) (%)
Sunteck Realty 257.30 292.00 13.49 • NMDC signs `509Cr contract for steel plant.
HDIL 62.55 70.80 13.19 US markets
Wockhardt 304.10 336.85 10.77 US stocks largely erased the intra-day losses, as
KSK Energy 40.45 44.45 9.89 investor optimism over earnings and improving US
INDIAB POWER 10.38 11.34 9.25 economy countered the European debt worries.
After falling as much as 63 points, the Dow Jones
TOP LOSERS
Industrial Average closed down 13.02 points, or 0.1%,
(BSE A-Group) at 12,449.45. The S&P 500 recovered from losses close
Previous Current Change to 0.4% to end flat with a rise of 0.03%, as the rally was
Company Name
Close(`) Price(`) (%) led by materials while energy lagged among its 10
Hindustan Copp 303.75 286.40 -5.71 industry sectors. That was its highest close since July
MMTC 981.65 951.50 -3.07 28. The Nasdaq Composite added 8.26 points to
TCS 1166.80 1137.15 -2.54 2,710.76.
Grasim Inds 2455.55 2397.10 -2.38
Educomp Sol 220.30 215.20 -2.32
(BSE Mid-Cap)
Previous Current Change
Company Name
Close(`) Price(`) (%)
HMT 45.00 43.00 -4.44
CHOLAFIN 133.00 127.40 -4.21
Rallis India 127.60 123.50 -3.21
GVK Power 14.03 13.59 -3.14
Allcargo Logistics 132.00 128.75 -2.46
Keynote Capitals Institutional Research (research@keynotecapitals.com) (+9122-
30266000)

3. K E Y N O T E
INSTIT UT IONAL R ES EAR C H
India and Global Economic Calendar
Countries / Thursday Friday Monday Tuesday
Regions 12/Jan 13/Jan 16/Jan 17/Jan
India Weekly Inflation Data Forex Reserves Data Inflation Data for the
month of December
2011
IIP Data for the month Weekly Supplement
of November 2011 of RBI
Bank Loan Growth
US Retail sales Import Price Index NY Empire State
(YoY & MoM) Manufacturing Index
Initial jobless claims Trade Balance
Reuters/ Michigan
Consumer Sentiment
Index
Global UK industrial UK Producer Price Germany Wholesale UK Consumer Price
production Index - Input (YoY & Price Index (MoM) Index (MoM) and
MoM) n.s.a and (YoY) (YoY)
UK Manufacturing UK Producer Price Japan Consumer UK Retail Price Index
Production Index - Output (YoY & Confidence Index (MoM) and (YoY)
MoM) n.s.a
ECB and BoE Interest China Retail Sales & Germany ZEW Survey
Rate Decision Industrial Production - Economic Sentiment
(YoY)
Eurozone Industrial Eurozone Trade
Production Balance
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