Indian shares continued to rise for a fourth day on Tuesday. The Sensex index ended in positive terrain, while the numbers ignore the stylish Infosys continued sign of 5400 and 5400. Faster pace of real estate stocks followed by the consumer durable and oil and gas and metals shares, while the information technology, tech, consumer goods dropped. Both Sensex and Nifty traded above its highest level over the 24 months.
At the close, the benchmark 30-share index, the BSE Sensex 48.70 points, or 0.27% at 17,985.90. In the meantime, he went with a broad-based NSE nifty rose 17.65 points, or 0.33% at 5,400.65.
In an exclusive interview with Myiris.com, discussed Swapneel V Mantri, senior executives – PMS Sushil Financial Services on three strategies stocks that were flying through out the day. The same is as follows:
Unitech:
Shares of real estate company Rs 4.9, or 6.26%, to settle at 83.20 rupees. The total volume of 10829035 shares traded in the mad cow disease. And opened the company’s shares at 79 rupees. He touched a high of Rs 84.40 and a low of 78 rupees.
Enjoyed Swapneel V Mantri: arrow, and keeping in sync with the real estate, and very good run for 20% in the past two weeks. Immediate resistance to the shares of about 85 levels where we can see some selling pressure. We would like to advice to hold shares with 80 and stop loss. Both MACD and RSI in positive territory. The arrow and the target of 92 above 85 levels.
Sesa Goa:
Shares of Sesa Goa, and Diversified Metals International Mining Company 1.7 rupees or 0.48%, to settle at Rs 356.50. The total volume of 3165465 shares traded on the BSE. The stock was one of the toppers the highest value during the day. Opened at Rs 354.80 and touched 363.20 rupees high and a low of 347 rupees.
Swapneel Mantri V: After rising 494 in mid-April and a sharp correction in stock. After a rebound in stocks, seems to be in the consolidation phase. Recently, it seems that securities accounted for about 345-350 down levels. The shares continue to trade sideways. Immediate resistance for the company is 375 at levels where we could see some selling pressure. Department of Municipal Affairs 200 shares is 376.
Suzlon:
The company’s shares rose 1.7 rupees, or 0.48%, to settle at 356.50 rupees. The total volume of 3165465 shares traded at the BSE (Tuesday). The stock was one of the toppers the highest value during the day.
Swapneel V Mantri: Suzlon is still in the bearish trend. However, in the short term stock and formed the bottom of the well in the 55-57 levels. The shares closed above 50 today in the Department of Municipal Affairs indicate an upward trend in the short term. We recommend to adhere to the position with 60 as stoploss for the purpose of short-term 65.
Were taken Disclaimer: IRIS care and caution in compilation of data on its website. I have been getting the information that IRIS from sources deemed reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for results obtained from the use of this information. IRIS especially states that it has no financial obligations of any kind to any user on account to use the information provided on its website.
The Gas Exporting Countries Forum, also called Gas OPECor Gaspec, elected Russian Leonid V. Bokhanovsky as its first secretary general Wednesday, the NYT reported. And he’s not wasting any time looking for ways to stabilize prices. Bokhanovsky has already called for a study on how to maintain the link between natural gas and oil prices in contracts, the NYT reported.
The 11-member countries of Gas OPEC, which includes Qatar, Iran, Russia and Nigeria, have met informally since 2001. The group adopted last year a formal charter. Potential new members of the group include Azerbaijan, Uzbekistan and Canada, Bokhanovsky told a Gulf Times reporter at the Gas OPEC meeting.
So, why the sudden call to action? In short, Gas OPEC wants to find a way to stabilize prices in a world saddled with a glut of gas and weak demand.
The world is overloaded with natural gas, in part, because of a boom in unconventional gas production in the United States. The International Energy Agency, which advises energy-consuming countries, said last month in its 2009 World Energy Outlook, the emergence of unconventional gas production in the U.S. is an international game-changer that will have far-reaching implications on global supply and prices.
IEA’s chief economist Fatih Birol called it a silent revolution in his comments during the reveal of the 2009 World Energy Outlook. Gas exporting nations ramped up their investment in liquefied natural gas industry on the belief that the U.S. would need substantially more supply, Birol explained. But the development of unconventional or shale natural gas in the U.S. has changed that outlook. Now, thanks to technological improvements, producers in the U.S. can reach gas trapped in geological formations, once considered impossible or at least financially unfeasible to access. Domestic production has ramped up and has reduced the need for imports.
At the same time, there has been a slump in global demand, which has already impacted Russia’s bottom line. Russia’s main customers are European utilities, which lock in long-term supply contracts linked to the cost of crude oil.
Meanwhile, spot prices have dropped as consumption has fallen, leading to an abundance of natural gas in storage. Russia’s customers have been encouraged to try and renegotiate prices or delay deliveries from these long-term — oil-linked and more expensive contracts. This has been an unpleasant development for Russia, which had expected to gain market share in Europe, a point the NYT reported also notes.
Hence, the sudden call to arms and a desire to stabilize natural gas prices. the question is how they will do it? The group has signaled it will not set production quotas. Qatar’s ruler Sheikh Hamad bin Khalifa Al Thani, concerned with the disparity between the price of crude and natural gas on international markets, has pushed for linking gas prices to oil. A move the IEA has warned against.
What a difference a quarter makes. The IEA has updated its forecasts for oil demand and supply to 2014, and a big change is that non-Opec supply now increases by 0.7m barrels per day during the five-year period, rather than decreasing by 0.4m b/d. Furthermore, decline rates of production capacity remain unchanged:
No across‐the‐board changes are made to future decline rates, since there is little
evidence that lower spending in 2009 versus 2008 has so far exacerbated these compared with our original expectation.
An 0.7m increase is fairly small, but not long ago the IEA was predicting non-Opec production capacity would peak around 2010.
The main source of higher non-Opec capacity is Russia, long an exception to non-Opec supply trends. The IEA estimates the country will produce 270,000 b/d more this year than was previously forecast. Forecasts for Opec capacity for 2009 - 2014 has also been raised, from a 1.7m b/d in the June forecast to 2.8m b/d today.
Here’s how the IEA sees growth in production capacity breaking down over the next four years:
Source: IEA
And prices won’t necessarily fall: worldwide demand over the period has been raised a substantial 1.9m barrels per day on the back of an improved economic outlook:
Our higher GDP case hinges on the IMF’s October 2009 outlook, which sees more frontend
loaded recovery than last time, but with the global economy again regaining trend growth
around 4.5% later in the forecast. Assumed crude prices follow the futures strip as at early December 2009, equating to $80/bbl (nominal) by mid‐decade, compared with the $70/bbl assumed last time. The higher GDP case generates annual average demand growth of 1.2 mb/d (+1.4%) from 2009 onwards, taking world demand close to 91 mb/d by 2014. All of the growth comes from the non‐OECD, which overtakes the OECD to account for 51% of world demand by 2014. Of course, much dust still has to settle in the aftermath of the 2008 economic meltdown, but our working assumption remains that a degree of structural demand destruction has occurred, notably in the OECD, which may constrain overall levels of demand growth in future.
The industrial output in October, as measured by the index for industrial production, rose 10.3 per cent from a year earlier, the Central Statistical Organisation said on Friday. “The business confidence is still up and it should not be dented by this number. The economy is likely to see much better IIP numbers in the coming months,” said Dr Samiran Chakraborty, Head of India Research, Standard Chartered Bank.
In the Sensex pack, BHEL was the top gainer. The stock rose nearly 2 per cent.
Infosys, Tata Motors and Wipro were the other gainers in the group.
Bharti Airtel, however, slipped 2 per cent.
US stocks ended with moderate gains on Thursday after the Commerce Department said rising exports helped narrow the nation's trade gap to $32.9 billion in October.
The Dow Jones industrial average rose 68.78, or 0.7 percent, to 10,405.83, pushing it back into the winning column for the month. The Standard & Poor's 500 index rose 6.40, or 0.6 percent, to 1,102.35, while the Nasdaq composite index rose 7.13, or 0.3 percent, to 2,190.86.
Asian markets were also trading higher today. Hong Kong’s Hang Seng rose 1.6 per cent and Japan’s Nikkei soared 2.5 per cent.
The October IIP came in at 10.3% as against 9.6% in September and 0.1% in October 2008.
Bharti Airtel (shed Rs 8 or 2.5% at Rs 333), ITC (lower by Rs 3 or 1.4% at Rs 250) and M&M (lower by Rs 12 or 1.1% at Rs 1028) are the prominent losers on the BSE.
Infosys (stronger by Rs 251 or 0.8% at Rs 2465), BHEL (higher by Rs 19 or 0.8% at Rs 2312) and Grasim (up Rs 10 or 0.4% at Rs 2400) are the leading Sensex gainers.
The market breadth is strong. Out of 2,679 stocks traded on the BSE, there are 1,641 advancing stocks as against 947 declines.
Bharti Airtel tops the value charts on the BSE so far, clocking a turnover of Rs 47.31 crore, followed by Tata Steel at Rs 44.47 crore, Reliance at Rs 34.50 crore, DLF at Rs 30.26 crore and Jindal Steel at Rs 27.71 crore.
Unitech has clocked the highest volumes of 9.71 million shares, followed by Suzlon at 8.17 million, Bharti Airtel at 3.26 million, Reliance Communications at 2.90 million and HDIL at 2.38 million.
sreekanth
