India Market Wrap

* INDICES: Sensex -34 at 15815 (-0.21%), NIFTY -4 at 4743 (-0.09%), CNXMIDCAP +41 at 6316 (0.65%)

* SECTORAL PERFORMANCE: BANKEX 0.15%, AUTO -0.47%, CAPITAL GOODS 1.33%, HEALTHCARE 0.86%, Metal 0.01%, OIL & GAS -0.71%, IT -0.47%, FMCG -0.34%, PSU 0.48%, REALTY 1.49%, Consumer Durables 0.78%, POWER 1.58%

* MARKET BREADTH: 307 Advances, 186 Declines (BSE 500)

* VOLUMES: BSE $0.37bn (1.72%), NSE $1.59bn (-5.97%), F&O $15.91bn (-22.86%)

* TODAY'S GAINERS: BHEL 2.99%, IDFC 2.66%, JPA 2.63%, CIPLA 2.61%, JSP 2.54%

* TODAY'S LOSERS: BHARTI -3.16%, SESA -2.09%, SBIN -1.9%, BJAUT -1.79%, Coal -1.78%

* MARKET COMMENTARY:

Recovery on the domestic bourses gathered further steam in mid-afternoon trade as European stocks rose in early trade. Pharma stocks extended recent gains. IT stocks rose on strong economic data in the US, the biggest outsourcing market for the Indian IT firms. Capital goods stocks reversed initial losses. Indian equities trimmed losses but continued its trade throughout the day on a weak note below neutral line in the late afternoon session. Investors are setting their eyes on a handful of economic readings coupled with third quarter earnings of domestic companies like Infosys and HDFC which will further determine the direction of stock markets. Infosys will kick off the earning season for the December quarter on Thursday January 12, 2012. On the global front, all Asian markets traded on a negative note barring Shanghai Composite and Hang Seng while the. The leaders of Germany and France are holding their first meeting of the year as the Euro zone’s weaker countries worries about high borrowing costs and Europe works to hammer out a treaty enshrining tougher budget rules.

* NEWS ON TODAYS MOVERS:

- IDBI Bank climbs close to 1.32% after company announced an MOU with credit rating agency, CARE (Credit Analysis and Research)

- GAIL (India) closed flat after been trading in negative thought the day despite on replacing Jaiprakash Associates in the BSE Sensex from today, 9 January 2012.

- GMR Infrastructure rose close to 8% on reports that Maldives authorities have allowed the company to collect airport development and insurance charges from passengers at the Male International Airport.

- Reliance Power rose close to 1.83%,on reports state-run Northern Coalfields has agreed to surrender land required to mine two blocks attached to the Sasan ultra mega power plant to Reliance Power.

- Coal India fell close to 1.77%,on report the Calcutta high court has asked the company not to implement the new pricing regime in West Bengal till 16 January 2012.

- Maruti Suzuki India rose almost 1.72%,extending two-day 2.36% gains triggered by the company launching two new models at the auto expo 2012.

- Sugar companies rose by 0.39%to 12.09% on report the government may allow further exports of sugar in the next few days.

- Rajesh Exports rose to 2.41% , extending three-day 4.8% gains triggered by government's move to make hallmarking of gold jewellery mandatory.

- Two-wheeler makers fell by 0.45% to 1.63%,on concerns of increased competition as global two-wheeler makers launched new models and announced expansion plans at the ongoing India auto show to attract more buyers in the country.

* CORPORATE NEWS:

- Maruti Suzuki India to report 3q results on Jan. 23 :msil in

- Mahindra solar commissions 5mw solar plant in Rajasthan

- Coal India falls as PIL filed against new pricing in WB

- FM assures Rs1,400 cr capital support to IOB

- Tata Power’s Mundra UMPP begins operation

- Jindal Steel begins 3rd unit at Raigarh, in Chhattisgarh

- Oberoi Realty in Rs100 cr land deal

- Strides Arco plans to sell its Australian unit

- Kingfisher may cut fleet size in difficult times

- Maruti plans to manufacture first hybrid vehicle

- Suzlon North-American arm taken to court in US

- BHEL to commission 250 MW CFBC boilers for Neyveli Lignite

- Maruti to take call on Guj plant after budget

- NTPC to foray into power distribution across the country

- Ashok Leyland to raise stake in Optare to 75.1%

* ECONOMIC NEWS:

- India’s FY12 GDP to drop to 7%: PM

- Another TDSAT hearing on 3G deferred today.

- RBI OKs Air India's debt restructuring plan

- Govt's nod for RIL's satellite field plan is credit positive

- Pvt power cos ask OilMin to re-allocate non-core sector gas

- SC admits Sahara plea against Rs 17k cr refund order

Regards

Jatin Padharia
+912261544569
+919867336999