Morning Note

Indices Index CNX Nifty Global Markets

Asia

19 th August , 11

LTP 4944.15

S1 4870

S2 4840

R1 4960

R2 5030

Asian markets are trading lower. China's Shanghai Composite down 1.40% or 35.72 points at 2523.75. Hong Kong's Hang Seng down 2.60% or 519.96 points at 19500.67. Japan's Nikkei 225 down 2.15% or 192.09 points at 8751.67. Singapore's Straits Times was down 2.74% at 7406.48. South Korea's Seoul Composite down 4.52% at 1776.46. Taiwan's Taiwan Weighted down 2.75% at 7405.86. US Dow Jones Industrial Average down 3.68% or 419.63 points at 10990.58. Nasdaq Composite down 5.22% or 131.05 Market points at 2380.43. Standard & Poor's 500 down 4.46% or 53.24 points at 1140.65. Stocks closed off their worst levels Thursday, but were still down sharply, following a handful of disappointing economic news and over continuing worries over the stability of euro zone banks. The CBOE Volatility Index, widely considered the best gauge of fear in the market suged 40% to above 44.

Board Meeting: Anik Inds, Caprolactam Chem, FIEM Inds, Mukesh Steel, Mukesh Strips, Scindia Steam, Shivalik Bimet, TRIMURTHI DR, Vidarbha Iron

Economy/Industry: Baltic Dry Index is trading 3.136% higher at 1414 from previous days close.
SGX Nifty Future is trading 67 points down at 4864. Crude is trading at $81.03/bbl, $1.35 down from previous days close. July inflation rose to 9.2% Vs 9.44% (MoM). April inflation rate has been revised to 9.74% as against the provisional figure of 8.66%. Primary articles inflation rose 11.3% as against 12.22%(MoM). Manufacturing products inflation at 7.49% v/s 7.43% (MoM). The food articles index at 9.9% in the last week of July. Q4 GDP at 7.8% Vs 8.2% (QoQ); FY11 GDP stood at 8.5% v/s 8% in FY 10. Q3 GDP growth revised upward to 8.3% from 8.2%. The Farm sector growth stood at 7.5% Vs 1.1% (YoY); Manufacturing output grew by mere 5.5% as against 15.2%(YoY); Mining sector growth at 1.7%; Construction sector growth at 8.2% Vs 9.2% (YoY).

IIP for the month of June at 8.8% v/s 5.9% (revised) a year ago, in April-May this year IIP averaged 5.7% compared to 10.8% in the same period last year. Manufacturing sector growth at 10% as against 7.9% a year ago. The mining sector grew by a meagre 0.6% as against 6.9% (YoY). Capital goods sector grew impressively by 37% v/s 5.9% (MoM). Consumer goods saw lower growth of 1% v/s 5.4% (MoM).

Company: BILT Q4 net up 15.42% at Rs 95.8 crore. Cipla, Dr Reddy's under DCGI scanner for selling banned drugs. HCL Infosystems net drops 83%. HPCL, BP, Total in talks for $10 bn plant. Hotel Leela Venture plans Rs 1k cr QI. Zuari Industries has approved the scheme of arrangement & demerger between Zuari Industries & Zuari holdings.
Disclaimer; The recommendation made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. Readers using the information contained herein are solely responsible for their actions. The information and views contained herein are believed to be reliable but no responsibility or liability is accepted for errors of act or opinion. Analysts may or may not have trading or investment positions in the securities mentioned herein.