Reports Archive

World stock markets daily report (August 5, 2009)

Profit takers kept the market soft, but more green shootery (this time in the form of an upside surprise in pending homes sales number) put the market back in black. Hey we’re overbought but who cares. A revision lower in the number of hurricanes expected this season also helped the buyfest mood. The S&P 500 is now 15% above its 200 day moving average. This is the first time since 1999 that this situation has occurred and now almost 83% of all stocks in the index are now above their 200 day moving averages. As far as the data yesterday was concerned, note that the US household savings rate fell back to 4.6% in June after fiscal stimulus had boosted savings in May. This still leaves households with some spending ammunition if they are so inclined. The level of inclination should be rising at the margin as financial asset prices continue to recover (albeit still substantially down on where they were at the peak) and as evidence emerges of stability in the housing market. As far as the latter was concerned the markets were heartened by the 3.6% mom rise in pending home sales in June despite a substantial rise in mortgage interest rates. Extrapolating from this it will be difficult to forecast anything other than a solid rise in existing home sales over the next couple of months.

Russian stock market daily morning report by Veles Capital (August 5, 2009, Wednesday)

Tuesday the trades at the Russian exchange market were variously directed against the contradictory external background. The oil prices varied within the range of 72-73 USD entering red or green zones from time to time. The RTS index moved following the oil prices. In the afternoon the negative stats on income and expense of U.S. citizens came out, however the Russian market reacted neutrally. The rapid price high was the reason for that – the oil prices climbed to 73.4 USD. During the day the profit was fixated on the shares of Gazprom and LUKOIL. Purchases continued in Sberbank. The shares of VTB looked worse than the market against the background of bad IAS report of the bank for 1Q 2009.

Indian stock market daily report by Nirmal Bang (August 5, 2009, Wednesday)

The markets corrected a bit after a strong rally witnessed in last three sessions. The Sensex had touched the 16,000 mark in first few seconds of trade but could not sustain at higher levels and ended the day down 93 points at 15,831. The Nifty shut at 4,680 down 31 points after touching the day's high/low of 4731 and 4642 respectively. Profit booking was seen in power, telecom, pharma and private sector banking while cement, auto and oil marketing shares witnessed buying interest. The market breadth was positive and the total traded turnover was at Rs 88,023 cr. The Nifty has touched an intra-day high of 4726 and corrected from that level and ended below the 4700 mark. Now going ward it?fs very important that nifty maintains above 4730 for a fresh breakout to happen. The overall outlook remains optimistic has nifty is still holding above its 50-day moving average of 4400. The other important technical oscillator RSI is still at 64 which suggest there is more potential on the higher side. On the downside Nifty has strong support at 4630-4610 region and any sharp decline below this area could bring nifty upto 4570-4550 levels. As we had mentioned that the Oil & Gas space looks very attractive from the current levels and stocks like Reliance Ind, Indian Oil, ONGC, Essar Oil, Videcon Inds can be bought on dips.

Indian stock market daily morning report by Angel Broking (August 5, 2009, Wednesday)

The benchmark indices reversed their gains in the preceding three trading sessions and edged downward, as lower European stocks and US index futures triggered profit-taking after a recent solid rally. The market edged higher in early trade, on an overnight rally in US stocks, but lost ground later. The indices cut their losses in early afternoon trade, as index heavyweights RIL and SBI rose. The Sensex moved into the positive zone, before slipping into the negative zone. The Sensex and the Nifty lost 0.6% and 0.7%, respectively. However, the BSE Mid- and Small-Cap Indices outperformed the benchmark indices, losing 0.2% and gaining 0.3%. Among the front liners, Hindalco, HUL, Tata Motors, Reliance and Maruti gained between 1-4%, whereas Tata power, ONGC, Reliance Infra, Bharti Airtel and Reliance Communication lost between 3-4%. In the mid cap segment, India Cements, Motherson Sumi, EID Parry, Bannari Amman Sugar and Videocon gained between 7-8%, whereas Kirloskar Oil Engine, Punj Lloyd, Onmobile, Biocon and HCC lost between 4-5%.

Indian stock market daily morning report by Keynote Capitals (August 5, 2009, Wednesday)

Profit taking in the European markets and the US stock futures led to the pullback in Indian markets during the afternoon session yesterday, with the Sensex dipping to a low of 15699, before recovering by 132 points to close above 15830. The Sensex remained choppy for the entire day. While consumer durables and auto outperformed, technology and pharma witnessed selling pressure. Asian markets are trading mixed today, looking for triggers from US and regional economies to find direction. The Nikkei is moderately negative while the Hang Seng is positive. We may see a cautious opening for the Indian markets. While the Indian markets witnessed a drop yesterday in line with the European markets, both FIIs and domestic institutions remaining net buyers is a positive. We expect markets to remain volatile mainly on the weak monsoon and spiralling foodgrain prices. The RBI mentioned that India would not slow down on financial reforms, but would recalibrate the roadmap for reforms given the backdrop of the global crisis, so as to provide relief to industries.

USA stock market daily report by Millenium Traders (August 4, 2009, Tuesday)

U.S. government started the "cash for clunkers" program to try to help stimulate the economy and the auto market, and experts are believing it is starting to work. Reports show that new car sales rose in July to it's highest level in almost a year, and the rate of sale is at about the same as it was when the markets fell. Though the program has been successful, it does have its share of problems. Dealers are not offering rebates to customers until they are sure that the senate votes to add the $2 billion to the program, and it looks as though the money will be given to the program. "It's good for consumers. It's good for dealers and auto manufacturers, "White House spokesman Robert Gibbs said. "It's good for our energy security and our environment." Dealers were told the program would last several months to find out the money is almost gone in one week. Some dealerships have stopped offering the cash for clunker program feeling that they will be left footing out some money when government funding runs out. Senate leaders are working really hard to get this passed, they are due to take a four week recess beginning Friday, and they feel it will be very beneficial to the economy's recovery if they are successful with getting the $2 billion through. Investors seemed to be waiting on the sidelines today as stocks inched higher in afternoon trading, following the choppy morning session. Stocks looked for direction this morning as positive reports on pending home sales were released, sending stocks higher yet again, setting the tone for the PM. Dow was up 33 points at the end of the day with the Nasdaq gaining 2, followed by the S&P 500 posting a 3 point gain.

Russian stock market daily evening report by Veles Capital (August 4, 2009, Thursday)

The trades were variously directed at the contradictory external background. The profit was fixated mainly on Gazprom and LUKOIL. Purchases continued in the shares of Sberbank, Surgutneftegas and Norilsk Nickel. During the day the prices of oil varied around 72-73 USD going to green and red zones from time to time, which leaded to increased volatility at the exchange grounds.

World stock markets daily report (August 4, 2009)

The markets summer of love with stocks continued unabated yesterday as the S&P topped 1,000 and the Nasdaq pushed through the 2,000 barrier for the first time since October. Yesterday’s fresh catalyst was Ford’s bullish sales report (up 2.4% YOY, their 1st monthly rise since Nov 2000) and a better than expected jump in manufacturing ISM (which was no clunker, see below), while renewed gains in commodities and oil (above $71 barrel) cheered producers. The S&P is now 50% off its March 6th low of the number of the beast 666. The 1,005 level was the previous highs in both October and November and may provide some resistance for any future rallies. Above that there is little or no technical resistance until 1,100. An overshoot seems the more likely scenario now as investors chase the market higher.

Russian stock market daily morning report by Veles Capital (August 4, 2009, Tuesday)

The beginning of the week was positive at the Russian share market. The RTS index opened with gap up versus the favorable situation at the commodity grounds. During the day the oil prices were exceeding the level of 73 USD, which supported interest in the oil-and-gas shares. Primarily the investors were interested in Gazprom and Rosneft. Against the background of ruble strengthening the trades were active on Sberbank. The reason for growth of the international exchange grounds was the positive data on the GDP of the U.S., output Friday night, and also the statement by Alan Grispin on the possibility of soon recovery of the economy.

Indian stock market daily report by Nirmal Bang (August 4, 2009, Tuesday)

The benchmark indices smartly closed at 14-month high. The Nifty closed above the 4,700 mark for first time since June 6, 2008. The Sensex was up 254 points at 15924 and the Nifty shut at 4,711 up 75 points or 1.62%. Among the broader indices - the BSE midcap and smallcap indices closed up 2.3% and 1.69% respectively. The rally was led by auto, realty, metal and oil & gas stocks. Buying was also seen in power, capital goods and pharma stocks. The market breadth was quite positive and the total traded turnover stood at Rs 73,090 cr. The Aug nifty future ended with 18 points premium. Nifty managed to end above the 4,700 mark and hit a 52-week high of 4,723. This rally was strongly led by auto, metals and oil & gas space. The outlook continues to be robust as global markets are also giving a strong comeback. Stocks rose in Europe & Asia & US index futures advanced as former Fed Reserve Chairman Allan Greespan said the recession may be ending, Chinese manufacturing expanded and earnings from HSBC Holdings Plc and Barclays Plc boosted banks. The S&P 500 is also near to cross the 1000 mark level. As the overall global scenario looks optimistic, the Indian markets are also about to witness a stronger rally going forward. As the markets have entered into a new phase the leadership could change and get shifted to stronger hands. The strongest of all could be Reliance Ind, Bhel, LT, Sterlite Ind, JSW Steel and TataSteel.

Indian stock market daily morning report by Angel Broking (August 4, 2009, Tuesday)

The benchmark indices extended their gains on sustained buying activity witnessed during the final trading hour. Stocks from the auto, realty and metal sectors led the late rally in the market, while consumer durables and FMCGs closed the day in the red. The markets were volatile throughout the day; they opened the day’s proceedings on a positive note, before paring their gains in early trade. The markets slipped into the red in afternoon trade, after government data showed a decline in exports during June 2009. However, the indices soon regained strength and moved into the green on positive European stocks and higher US index futures. The Sensex and the Nifty gained 1.6% each. However, the BSE Mid- and Small-Cap Indices outperformed the benchmark indices, gaining 2.4% and 1.7%, respectively. Among the front liners, Hindalco, M&M, Reliance Communication, BHEL, and Tata Steel gained between 4-8%, whereas HUL, ITC, HDFC Bank, and HDFC lost between 0.1-3%. In the mid cap segment, Bharat Forge, Amtek Auto, Biocon, Aban Offshore, and Phoenix Mills gained between 9-19%, whereas Onmobile Global, REI Agro, BF Utilities, HT Media and UTV Software lost between 2-11%.

Indian stock market daily morning report by Keynote Capitals (August 4, 2009, Tuesday)

Recovery in real estate and metal stocks and buying in auto stocks helped the Sensex gain 254 points yesterday. The rally was fuelled by the recovery in global markets. However, consumer durables and FMCG stocks underperformed the markets. Asian markets have had a strong opening today, following cues from the US markets. Strong earnings data and rise in commodity prices helped markets strengthen. We expect a positive opening for the Indian markets this morning. FII inflows for last few days lead us to the belief that the global liquidity situation is improving. The ongoing rally does look sustainable; however spiralling crude oil prices (still above $70/bbl) and below-average monsoon in India may be dampeners. We are afraid Q2 corporate earnings may take a hit, if the rainfall is substantially below average, which can impact agricultural production, which accounts for 18-20% of India’s GDP.

Positive data from the manufacturing report send US markets spiraling higher 1.3% (August 3, 2009, Monday)

Positive data from the manufacturing report send US markets spiraling higher 1.3%. Coming off their best performing month since 1989, stocks continued their bull run on the first trading day of August. Financial stocks saw solid buying interest. They finished 2.7% higher and were early leaders in the broader market, due to encouraging midyear reports from Barclays and HSBC. Ford reported its first uptick in monthly sales results since 2007 by registering a 2.3% increase in June.

USA stock market daily report by Millenium Traders (August 3, 2009, Monday)

Rallies extended as positive stock market news was released, sending shares soaring. Dow Jones industrial average rose 125 points, as Standard $ Poor's 500 Index soared past 1,000, the first time since November due to positive manufacturing and housing reports. Dow is up 42% from the lowest point last March, S&P 500 is up 48% and the Nasdaq 58%,  Ford Motor Company saw it's highest gains of the year, the company's sales increased for the first time in almost two years, shares of ford are up to 8.86. Federal Government's program "cash for clunkers" , is highly anticipated to boost auto sales to year highs.  Traders seem to be gaining confidence along with rising Commodity, and energy stocks, experts say that after all of the good reports being released it has encouraged investors that the economy and markets are are getting closer to stabilizing. "At this point through earnings season, patterns have been firmly established," said Lawrence Creatura, portfolio manager at Federated Clover Investment Advisors. "It would take a lot to derail the emerging optimism." We are seeing with each report being released that the margins are closing in and everything is starting to turn around from the auto industry, to the stock market, which had it's best July trading in nearly two years. Economic advisors are starting to believe that the worst recession since the great depression will be ending some time in the near future possibly being by the end of the year.

Russian stock market daily evening report by Veles Capital (August 3, 2009, Monday)

Demand remained at the exchange market. It was still concentrated on the shares of the oil-and-gas sector: Gazprom and Rosneft. Also the trades were active on Sberbank. LUKOIL was of less interest. The reason for positive was the usual one – the commodity factor. The oil price during the day exceeded the level of 73 USD.

US stock market news summary by Zacks (August 3, 2009)

A government report that suggested the economy shrank at a slower pace than feared failed to push stocks higher on a lackluster Friday but indexes managed to end the month on a solid footing, spurred by hopes that the recession is losing its force.  The big July saw the Dow Jones industrial average surging 725 points or 8.6% - its best July since 1989, and the broader S&P 500 index gaining 7.4% for its best July run since 1988.  The S&P500 has now recorded its most remarkable five-month performance since 1938, holding 46% above its 12-year low set in early March. This morning’s US stock futures indicate a sharply higher opening, helped by positive signs emanating from overseas markets.

World stock markets daily report (August 3, 2009)

Equities were volatile on Friday after lacklustre GDP data and ahead of the month end as traders squared their books. The USD index (-1.3%) trended to the downside throughout the session, helping underpin the move higher in the Oil & Gas (+0.63%) and Basic Materials (+1.51%) sectors in the S&P 500. Financials (+0.81%) also performed well with State Street (+2.36%) amongst the best performers in the sector. However, tech stocks underperformed with Genzyme (-7.75%) weighing on the NASDAQ 100 after the FDA said it would have to reinspect operations at the co.’s Allston plant following a virus. Elsewhere, Ford (+8.25%) shares received a boost after the House voted to expand the ‘cash for clunkers’ program by a further USD 2bln. The closing stages of the session saw more volatile price action as investors consolidated their positions ahead of this weeks NFP data. Finally, at the closing bell DJI closed up 0.19% at 9171.61, S&P 500 closed up 0.07% at 987.48 and the NASDAQ 100 closed down 0.4% at 1603.36.

Russian stock market daily morning report by Veles Capital (August 3, 2009, Monday)

The trades on the Russian companies at the RTS market were variously directed on Friday. The session opened positively against the background of oil prices, however with the open of trades in Europe the investors began fixating profits. On the threshold of GDP data output in the U.S. the purchases resumed, not for long however. Stats turned out to be better than expected, however negative motions at the commodity market caused the need of fixating profit, which was partially won back before the trades close.

Indian stock market daily report by Nirmal Bang (August 3, 2009, Monday)

The markets witnessed huge buying interest on the first day of August series and closed on a strong note. It touched a new 2009 highs of 15,732 on the back of strong earnings and Nifty ended above the 4,600 level. The Sensex surged 282 points or 1.83% to settle at 15,670. The Nifty shut shop at 4636 up 1.42% or 65 points, after touching a day's high of 4669. Buying was seen in oil & gas exploration, banking, FMCG, capital goods, technology, metal and select pharma shares. The Aug nifty future ended with 17 points premium. The first day of the Aug series started on a positive note. The nifty managed to end above its important resistance point of 4,610 from where markets were witnessing selling pressure for some time. Now going forward it?s very important for the nifty to sustain at higher levels and try to maintain the 4,450 mark on the closing basis. The outlook for the coming week looks very bright as we have seen strong momentum in the index leader, Reliance Ind as the counter closed at 1,974 up 3.8% after a long time. Going forward if Reliance maintains above the 2000 mark then it?fs confident that the Indian markets will see a fresh breakout on the higher side.

Indian stock market daily morning report by Angel Broking (August 3, 2009, Monday)

The benchmark indices surged in late trade, on a rally in index heavyweight Reliance Industries (RIL). Gains in Asian stocks, higher US index futures and better-than-expected 1QFY2010 Indian corporate earnings underpinned the market sentiment. The barometer index struck its highest level in more than 13 months; Banking, IT and FMCG stocks rose, but Realty stocks fell in volatile trade. The Sensex and the Nifty gained 1.8% and 1.4%, respectively. However, the mid and small indices outperformed the benchmark. The BSE Mid-Cap Index gained 1.2%, while the BSE Small-Cap index ended flat. Among the front liners, Hindalco, Tata Motors, ONGC, SBI and HUL gained between 3-7%, whereas Bharti Airtel, Reliance Communication, Hero Honda, DLF and NTPC lost between 1-3%. In the mid cap segment, Godfrey Phillips, Kansai Nerolac, Patni Computer, Bharat Forge and Max India gained between 10-13%, whereas BF utilities, Wockhardt, Atlas, Jagran Prakashan and HMT lost between 4-5%.

Indian stock market daily morning report by Keynote Capitals (August 3, 2009, Monday)

Indian markets were bullish on Friday due to buying in FMCG, oil & gas and bank stocks. Both FIIs and domestic institutions were buyers and bought equities worth Rs582Cr and Rs316Cr respectively. Asian markets are mixed today. The Nikkei is cautious ahead of the results of few Japanese majors like Panasonic and Toyota Motors. The Hang Seng rose after a weak opening on better corporate results. Asian markets seem to be finding direction after the rally last week. We expect a positive opening for the Indian markets today. However, we may see some profit taking in select sectors like FMCG, banks and IT.

USA stock market daily report by Millenium Traders (July 31, 2009, Friday)

Many experts believe with all of the positive data being released in the past couple of weeks, the current economic recession way be coming to an end. Government reports show the economy dropped only 1% in the second quarter, better than the expected 1.5% economists were predicting. "Our first mission in coming to office was to rescue the economy, to stop the slippage, to prevent it from going over the edge," White House press secretary Robert Gibbs said of the new GDP figures.Many think the contraction was because a decline in exports and business inventories and a rise in government spending and consumer prices. Government spending grew by 10.9% while business spending fell by 8.9%, better than the 39.2% drop in the first quarter. President Obama cautioned everyone, saying Friday afternoon at a news conference that the economy has not yet begun to recover, but the GDP numbers were "encouraging." We won't have a recovery as long as we're losing jobs, [but] you need to have economic growth before you have job growth," said Obama. "Today's GDP is an encouraging sign that the economy is heading in the right direction. That means, eventually, businesses will start growing and will start hiring again. But this won't happen overnight." One of the major factors in the shape of the recovery will be how consumers act in the next couple of months, spending accounts for the largest percent of economic activity. Traders took the good news on the economy today and ran with it today sending stocks higher, Dow Jones Industrial was close to having it's best month since October of 2002. U.S. dollar fell as bond prices rose along with gold and crude oil.

Russian stock market daily evening report by Veles Capital (July 31, 2009, Friday)

Various dynamics of the main liquid shares was dominating. The demand was changed by selling depending on the situation at the commodity market. The data on U.S. GDP should be outlined – it turned out to be better than expected, and also the data on consumer prices in the Eurozone. The activity of the players on the threshold of the week-end grew and the priorities remained the same – Gazprom, Sberbank, LUKOIL and Rosneft.

World stock markets daily report (July 31, 2009)

The bear slaughter continues apace. Stocks surged Thursday, hitting their highest levels in nearly 9 months, as investors eyed the latest batch of “better-than-expected” (yawn) profits and guidance, a weaker Dollar, a decent 7 year US Treasury bond auction, a report that suggested the labor market is starting to stabilize and soothing words from China that they would refill the punch bowl. There was this which got a lot of airplay Dow Sends Buy Signal That’s Worked Since 1921: Chart of the Day and enticed some hot money off the sidelines.Putting it all together thhe Dow rose 83 points, or 0.9%, ending at its best level since Nov. 4. It was also the highest close for the blue-chip index in 2009. The S&P 500 added 11 points, or 1.2%, ending at its highest point since Nov. 4. The Nasdaq composite gained 16 points, or 0.8%, to reach its highest close since Oct. 1. For oldies like me, this is the longest bull run since July 1939 !

Russian stock market daily morning report by Veles Capital (July 31, 2009, Friday)

Thursday was contradictory for the Russian exchange market. In the first half of the day the mixed dynamics prevailed on the shares of the main range of the liquid notes. In the afternoon the RTS index started climbing against the background of oil price growth resuming after the drop yesterday. Besides, strong quarter reports on Motorola and General Electric came out, which stole the show of the negative labor market data from the U.S. Note that the number of claims for unemployment turned out to be higher than the market expected. Nevertheless, the exchange markets of the New World opened positively, and the domestic indicators went even higher under their positive impact.

Indian stock market daily report by Nirmal Bang (July 31, 2009, Friday)

The Nifty ended the July series on a strong note and ended above the 4,550 level. The Sensex gained 215 points to end at 15,388 after swinging between 15,409 and 15,065. The Nifty shut at 4,571 up 58 points. The market breadth was positive and the volumes were lower compared to previous session, total traded turnover was down by 16% at Rs 1,23,635 cr. as against Rs 1,47,352 cr. The Nifty Aug future ended with 7 points premium at 4,578.

Indian stock market daily morning report by Keynote Capitals (July 31, 2009, Friday)

Recovery in IT, FMCG, banks and real estate stocks helped Indian markets to show positive close yesterday. However, traders booked profits in the oil & gas and power stocks. Markets were volatile due to the date of expiry of F&O. Asian markets rose today following the overnight cues from the US markets and strong earnings data. Exporter and metal stocks gained after rise in the oil commodity prices. We expect a positive opening for the Indian markets following the cues from the Asian markets. FII buying yesterday indicates a positive sign.

The US markets surged 0.9% logging the highest close since November (July 30, 2009)

The US markets surged 0.9% logging the highest close since November, despite a late-afternoon pullback. Another round of positive earnings reports combined with a strong 7-year Treasury auction sent stocks surging higher. Visa and MasterCard both reported upside earnings results of their own and also provided support to the financial sector. The trust designed to consolidate bad home loans, PennyMac, cut its IPO size by 20% and shares sunk on the first day of trading. US President, Barack Obama said that, "We have seen a significant slowing down of the contraction over the last several months. I suspect that GDP numbers will still show that economy contracted in the 2nd quarter that job loss is still a huge problem.”

USA stock market daily report by Millenium Traders (July 30, 2009, Thursday)

Oil prices rose to $66 dollars a barrel today, along with energy stocks, however Exxon reported shares fell to 81 cents a share from $2.22 a share a year ago. "Global economic conditions continue to impact the energy industry both in the volatility of commodity prices and reduced demand for products," Exxon said. Demand for energy went down this year, with consumers driving less, and not going to as many places meaning they aren't flying as much. Gasoline for August delivery jumped 13.61 cents, or 7.3 percent, to settle at $1.9911 a gallon and heating oil added 9.72 cents to settle at $1.7685 a gallon. Natural gas for September delivery rose 19.5 cents to settle at $3.743 per 1,000 cubic feet. National average for retail gas added less than a penny overnight to $2.516 a gallon. A gallon of regular unleaded gas is 11.7 cents cheaper than a month ago, and it's $1.41 this month last year.  Supplies of natural gas are building up, so refineries are cutting back on production which means they are cutting back on employees.

Russian stock market daily evening report by Veles Capital (July 30, 2009, Thursday)

The trades were highly volatile against the background of a contradictory background. During the day the negative stats on the unemployment level in the U.S. was coming out. However is remained unnoticed due to the negative data was compensated by the correction at the oil market towards upping and also the strong corporate reports by Motorola and GE. Priorities were the same – Gazprom, Sberbank, Rosneft and LUKOIL.

World stock markets daily report (July 30, 2009)

Yesterday was strange with bad news coming thick and fast, but yet again stocks proved remarkably resilient closing with only a mild red hue. Crude oil dropped below $64 barrel (after a jump in inventories) which should have pressured producers more. Investors frowned upon the terms Yahoo finally managed to extract from Microsoft. The auction of the 5 year U.S. government Treasury bonds was sloppy and poorly received (with a big tail). Durable goods orders disappointed with a big miss. And then there was the news from China regarding banks pulling away from new lending. After all this, the Dow finished down a mere 26 points. So what caused this gravity defying performance? The Fed’s Beige book made for happier reading with most of the 12 regional Fed member districts detecting a slower pace of decline in the last two months. Maybe it was Prof Moriarty again in the form of some Goldman programme buying if you believe the conspiracy theorists.

Russian stock market daily morning report by Veles Capital (July 30, 2009, Thursday)

On Wednesday the Russian share market opened with a 3% drop of the RTS index and 2% drop of MICEX index. The main reason of the reduction was correction at the oil market and ruble rate weakening versus the bi-currency basket that followed. The positive open of the European markets, where the trades opened in the green zone due to good corporate news, helped closing a part of the morning gap by afternoon. The reports by Akzo Nobel NV and Bayer AG became a good surprise for the investors. Profits of both enterprises of the chemical industry turned out to be significantly better than forecasted earlier. However the output of the negative stats on long-term goods order in the U.S. by 4:30 pm Moscow time became bad news for the market participants – the drop of the main indicators got worse. As before the activity of the participants was focused on the note of the bank and commodity, oil-and-gas mostly, sectors.

Indian stock market daily morning report by Angel Broking (July 30, 2009, Thursday)

After languishing in the red throughout Wednesday’s trading session, there was no respite for the Indian indices in the final trading hour as well, as they closed below the dotted line. A sharp pullback in the second half of the day's trading session helped the key benchmark indices cut steep losses, in what was a highly volatile trading session. A sudden sell-off of over 6% in China's Shanghai Composite index spooked a sell-off across the globe, with Indian indices also witnessing the rub-off effect. The Sensex and the Nifty fell by 1% and 1.1%, respectively. The BSE Midand Small-Cap indices lost 1% and 1.5%, respectively. Among the front liners, TCS, Tata Power, Mahindra & Mahindra, Hindalco and Reliance Industries gained between 1-4%, whereas DLF, Tata Steel, Sterlite, Sun Pharma and Tata Motors lost between 5-7%. In the mid cap segment, Gujarat Gas, Deccan Chronicle, Kansai Nerolac, Balrampur Chini and Jubilant Organosys gained 7-14%, whereas Amtek Auto, IVRCL Infrastructure, HDIL, Omaxe, Reliance Industrial Infra lost between 7-8%.

Indian stock market daily report by Nirmal Bang (July 30, 2009, Thursday)

Market ended on a weak note for the second consecutive day on the back of huge sell-off seen in the Asian markets like Shanghai and Hang Seng which ended down 5% and 2.7% respectively. The Sensex ended 158 points lower at 15,173 but at one point the Sensex had lost close to 3 %. The Nifty fell 50 points to finish at 4,513 but had hit an intraday low of 4,421. All the sectoral indices ended in red barring Oil & Gas and IT. Huge selling was witnessed in realty, banking, metal, power, telecom, capital goods and FMCG stocks. The breadth was negative and the markets recorded highest turnover ever, total turnover increased 39% to Rs 1,47,352 cr. as against Rs 1,05,933 cr. The Aug Nifty future ended with a 10 points premium at 4,523.

Indian stock market daily morning report by Keynote Capitals (July 30, 2009, Thursday)

Indian markets turned weak yesterday following a sharp correction in the Chinese markets. Real estate and metal stocks saw huge selling. IT, oil and gas, auto and bank stocks however witnessed bottom fishing. Asian markets are moderately up after a weak start. Exporter and auto stocks are up on weaker yen while commodity stocks witnessed declines. We expect a modestly positive opening for the Indian markets this morning. However, F&O expiry and inflation data announcement may keep markets volatile and range bound.

The US markets slipped 0.3% despite a late attempt to revert losses (July 29, 2009)

The US markets slipped 0.3% despite a late attempt to revert losses after Fed's beige book showed signs of improvement in regional economies. Yahoo expressed disappointment in terms of Microsoft/Yahoo search deal. It was expecting a multi-billion dollar upfront payment in exchange for using Microsoft's Bing search engine but Microsoft doesn't expect to pay, sending Yahoo shares sharply lower on the day. However, good news from the Fed that the decline is slowing in many regions softened the overall negative sentiment in the market. Fed's Beige Book told of moderated economic decline, albeit at a low level, but an underlying message is that market is getting ahead of itself with its recovery trade. A disappointing auction of $39bn worth of 5-year treasury notes also weighed on sentiment.

USA stock market daily report by Millenium Traders (July 29, 2009, Wednesday)

Microsoft and Yahoo finally work out an internet search partnership that could hurt their rival Google. Companies announced this morning a 10-year advertising and search deal in which Microsoft will power Yahoo's search tool and Yahoo will become the exclusive sales force for both companies' premium search advertisers. Yahoo will not receive any up front payments from Microsoft, sending shares of Yahoo down $2.03 this afternoon, and Microsoft's shares gained 9 cents. Yahoo CEO Carol Bartz dismissed the lack of upfront payment. "Having a big cash payment up front doesn't really help us from an operating standpoint," Bartz said on a conference call this morning. She said the traffic acquisition costs (TAC) rate was the most important aspect of the deal. Yahoo sees the deal raising annual income by around $500 million and capital expenditure savings of $200 million, it also sees an annual operating cash flow benefit of $275 million. Traffic acquisition costs are the portion of revenues shared with partners. Microsoft is now gaining Yahoo's users which will let it introduce its upgraded search engine, called Bing, to more people.

World stock markets daily report (July 29, 2009)

The two potential market moving economic catalysts Tuesday pointed in opposite directions, with the Case Shiller survey suggesting that the pace in price declines in U.S. real estate is slowing, but with the consumer confidence number slipping to 46.3 (from 49.3 in June), the market decided to call it a draw stocks meandered into the close broadly flat. U.S. health insurance stocks had a good day because it appears that the health care reform package working its way through Congress will not include a government-run health insurance option. To the downside were oil producers, after BP’s profit plunged by 53% and downbeat comments from CEO Tony Hayward. The fall in crude prices by $1.15 barrel didn’t help, needless to say.

Indian stock market daily morning report by Angel Broking (July 29, 2009, Wednesday)

The benchmark indices ended with modest losses, after swinging wildly during the course of the day. After a firm start, the market soon slipped into the red; it cut its losses soon after that, when the RBI kept the key policy rates unchanged at their historically low level it the quarterly monetary policy review. The market remained volatile throughout the day. The BSE Sensex lost 0.3%, while the NSE Nifty lost 0.2%. However, the BSE Mid- and Small-Cap indices gained 1.1% and 1.7%, respectively. Among the frontliners, Tata Motors, Reliance Infra, DLF, RCOM and Maruti Suzuki gained between 3-10%, whereas HUL, ICICI Bank, Grasim Industries, SBI and Infosys lost between 1-8%. In the mid cap segment, Godfrey Philip, Essar Shipping, Cadila Healthcare, Deccan Chronicle and Renuka Sugar gained between 8-19%, whereas ING Vysya Bank, Financial Technologies, Patel Engineering, Godrej Const and REI Six Ten Retail lost between 3-6%.

Russian stock market daily morning report by Veles Capital (July 29, 2009, Wednesday)

On Tuesday the trades at the Russian share market indicated high volatility. The price of shares within the main range of the liquid shares was various. On one hand the external references were positive – the foreign grounds closed positively, and the commodity markets were climbing also. However, contradictory to that was the necessity of correction after a two week rally, which has actually dominated at the market in the afternoon. Stagnation at the oil market supported sale of the shares of oil-and-gas sector. As before the activity was focused on the shares of Gazprom, LUKOIL and Rosneft. The sale of Sberbank’s shares got stronger with the open of the American grounds.

Indian stock market daily report by Nirmal Bang (July 29, 2009, Wednesday)

It was an extremely volatile session ahead of F&O expiry. Credit Policy was the non-event for the markets today, as RBI maintained the status unchanged. The Sensex ended down 43 points at 15,332 after hitting an intraday high of 15,463 and Nifty shut at 4,564 down 8 points after hitting an intraday high of 4,608. The broader markets outperformed the benchmark indices. The market breadth was positive and the total turnover crossed the 1 lakh cr. mark. The July Nifty future ended with 2 points discount and Aug Nifty future ended with 6 points premium.

Indian stock market daily morning report by Keynote Capitals (July 29, 2009, Wednesday)

Indian markets declined moderately in a choppy session yesterday. Markets were volatile ahead of the announcement of the RBI Credit Policy. After announcement the volatility increased particularly after Mr. Anil Ambani's allegations on the petroleum ministry's role in the gas supply case between Reliance Industries and Reliance Natural Resources. Real estate, power and metal stocks gained while FMCG, banks and consumer durables stocks declined. Asian markets are mixed today. The Japanese markets are trading with a moderate upside, while the Hang Seng has opened weak on cues from the overnight US markets. We expect a cautious but negative opening for the Indian markets today. The RBI's credit policy lacked any positive or negative surprises and remained silent on the Government's fund raising programme, while raising its forecast for inflation from 4% to 5%. In absence of specific events, the markets may follow global cues.

USA stock market daily report by Millenium Traders (July 28, 2009, Tuesday)

Consumer confidence has dropped at the end of July as consumers still worry about the economy and their job security. Reports on consumer confidence showed the second straight monthly decline in July, following a rise in confidence this past spring. Consumer confidence presents a big problem for retailers and other businesses because consumer spending accounts for more than 70 percent of economic activity. Housing report, also released Tuesday, showed more evidence that the real estate market was showing signs of life, according to price index. Home prices in May posted their first monthly increase since last summer, indicating prices may finally be stabilizing, however shoppers are looking past rising stock prices and a stabilizing housing market and remain nervous about their own financial security because of mounting job losses. Businesses are fearing that the drop in consumer confidence may hurt them during their back-to-school season.

Russian stock market daily evening report by Veles Capital (July 28, 2009, Tuesday)

Today the trades showed high volatility against the background of contradictory factors. On one hand, since morning the principal reference points were positive: the oil prices were climbing, also the foreign markets closed positive. On the other hand, fixation necessity is clear. As a result the second moment won over the afternoon. The drop was worsened with the open of the American grounds and correction at the commodity markets. The activity was still focused on Gazprom, Sberbank, LUKOIL and Rosneft.

World stock markets daily report (July 28, 2009)

The rally drum continues to beat its relentless tattoo as yesterday was yet another one of those “better than expected” days beloved of the newswires and soundbite TV. But this time it was new homes sales rather than massaged “earnings” which offset some mediocre numbers from Aetna and Verizon. Homebuilders such as Beazer, Pulte and Hovnanian were the stars of the show yesterday. Thus far this earnings season, companies have beaten the (lowly) expectation by a ratio of 5:1 allowing the Dow Jones its best fortnightly performance since 2000 as the risk aversion trade continues to unwind.

Russian stock market daily morning report by Veles Capital (July 28, 2009, Tuesday)

The beginning of the week was positive for the Russian share market. Rally continued on the shares of the oil-and-gas sector against the background of the favorable conjuncture of the commodity market, and also on banks’ shares due to ruble strengthening. However the ardency of bulls faded versus the end of the previous week – the volume of operations reduced at the exchange market. Indefinite dynamics of futures for the American indices, and variously directed open of trades in the U.S. later on leaded to local fixation on the shares of Rosneft and LUKOIL. At MICEX correction was indicated on the shares of WBD during the day against the background of possible claims from FAS.

Indian stock market daily report by Nirmal Bang (July 28, 2009, Tuesday)

The benchmark indices ended on a flat note after a huge volatile session. The Sensex witnessed a swing of 234 points between an intraday high of 15,463 and low of 15,228 before closing at 15,375 down just 4 points. The Nifty shut at 4,572 up 4 points, after seeing a swing of 68 points between day's high/low of 4,596 and 4,528 respectively. Among the broader indices - both BSE Midcap and Smallcap indices went up 1.4% each. FMCG, realty, power and metal stocks witnessed huge buying interest while oil & gas, banking and select auto stocks were under pressure. The market breadth was positive but the volumes were lower, total traded turnover was at Rs 75,663 cr. as against Rs 99,910 cr. The July Nifty future ended with 4 points premium and Aug Nifty future ended with 10 points premium.

Indian stock market daily morning report by Angel Broking (July 28, 2009, Tuesday)

The key benchmark indices ended the day on a flat note. The market had opened on a subdued note, as index heavyweight Reliance Industries (RIL) fell on weak Q1 June 2009 results that it had announced after trading hours on Friday. The market firmed up soon after on buying in banking and IT pivotals However, the rally proved short-lived, as the markets slipped into the red again. Shares of state-run oil marketing companies slipped on a rise in crude oil prices. A Rally in FMCG, metal and realty shares aided further recovery on the bourses in late trade. The Sensex lost 0.03% and the Nifty gained 0.05%, whereas the BSE Midand Small-Cap indices gained 1.6% and 1.5%, respectively. Among the frontliners, Hindustan Unilever, Tata Power, DLF, Tata Steel and ITC gained between 3-6%, whereas RIL, Hero Honda, ONGC, HDFC and Mahindra & Mahindra lost 2-4%. In the mid cap segment, MRF, Omaxe, Puravankara Projects, Godrej Industries and Gujarat NRE Coke gained between 9-17%, whereas KEC International, Punj Lloyd, Jai Corp, Redington India and Glenmark Pharma lost between 3-4%.

Indian stock market daily morning report by Keynote Capitals (July 28, 2009, Tuesday)

After a weak opening, the markets witnessed lacklustre trading, with the Sensex moving mostly sideways, except for a brief mid-session sell-off. However, the markets recovered towards the end of the trading session, with the Sensex closing flattish. Trading volumes were slightly weaker than Friday’s. Asian markets are trading mixed today. The Japanese markets are weak on profit taking in technology stocks. The Nikkei halted its 9 day rally, while the Hang Seng opened flat taking cues from the US markets. We expect a cautious opening for the Indian markets following cues from the Asian markets and ahead of the RBI credit policy. The RBI is expected to keep rates unchanged while its outlook on inflation and liquidity is crucial for market players. We may likely witness volatility; major sectors likely to witness momentum would be real estate, infrastructure and banks.

Exceedingly bullish news on new home sales in US failed to counter negative earnings news (July 27, 2009)

Exceedingly bullish news on new home sales failed to counter negative earnings news from several market critical companies which directed US markets to end with modest gains of 0.2%. However, despite trading in the red for most of the session, the bulls were able to battle dire earnings released today from Aetna and Corning pushing the major indexes into positive territory. LIBOR dropped to 0.496% for the first time clearly signaling that lending activity is on the upswing.

USA stock market daily report by Millenium Traders (July 27, 2009, Monday)

SEC announced that it took the action Monday on the rule targeting so-called "naked" short-selling, which was due to expire Friday. "Naked" short selling is when sellers don't buy or even borrow before selling them, looking to cover positions after the sale. Investors have been after the SEC to put some regulations on trading moves that they think worsted the markets crash last fall, and they are now making it a top priority. In addition to regulations, they could ban short term selling for the rest of the trading session in stocks that drop by 10% or more.

Russian stock market daily evening report by Veles Capital (July 27, 2009, Monday)

Rally continued at the share market. The reason for that was the favorable conjuncture at the commodity markets. However the activity of bulls got weaker, the trade volumes reduced versus Friday. Profit fixation was indicated by the end of the day on Gazprom, LUKOIL and Rosneft.

World stock markets daily report (July 27, 2009)

A complacent / resilient (you decide) market last week brushed off what to these tired eyes appeared poor numbers from bellwether stocks American Express, Amazon and Microsoft. However the Dow Jones closed at a 2009 high of 9103, smashing through the psychologically important 9,000 barrier. The Dow’s 11.6% gain in the last two weeks was its best since an 11.9% gain in the week of March 20, 2000. Oil also underwent a significant rally as Brent Crude Oil had five straight winning days, finishing up 7.8% up overall. With no extraordinary shifts in the supply and demand, it would appear that broader economic confidence and the rally in equities is spurring on prices. The “riskier” currencies finished up last week with EUR/USD up 0.8% at 1.4213.

Indian stock market daily report by Nirmal Bang (July 27, 2009, Monday)

Asian stocks rose for a 10th day, driving the MSCI Asia Pacific Index to its longest winning streak since 2004, on confidence a rebound in regional economies will boost earnings. Rio Tinto Group, the world`s third-largest mining company, added 3.3 percent in Sydney after nickel and aluminum prices advanced. Cash prices for iron ore delivered to China rose last week, according to Metal Bulletin. That placed spot ore 25 percent above the agreed benchmark contract price, according to analysts at Macquarie Group Ltd.

Indian stock market daily morning report by Angel Broking (July 27, 2009, Monday)

The key benchmark indices surged and extended Thursday’s rally, as encouraging 1QFY2010 results, signs of a pick-up in the economy, a revival of the monsoon and firm global markets lifted the market sentiment. Volatility was high during the day’s trade. Auto, realty and metal shares logged smart gains; however, banking shares faltered ahead of the quarterly monetary policy review meet on Tuesday, 27 July, 2009. The Sensex gained 1% and the Nifty gained 1.1%. The BSE Mid- and Small-Cap indices were up by 1.7% and 1.8%, respectively. Among the front liners, Tata Motors, DLF, Maruti, Tata Steel and JP Associates gained between 5-10%, whereas, Sun Pharma, HDFC, SBI and Reliance were down by 1-2%. In the mid cap segment, Bharat Forge, Phoenix Mills, Amtek Auto, Hindustan Oil Exploration and Jagran Prakashan gained between 9-14%, whereas Max India, India Infoline, United Breweries, Thomas Cook and Shriram Transport lost between 3-6%.

Russian stock market daily morning report by Veles Capital (July 27, 2009, Monday)

The last trading day of the week was positive. The trades at the RTS market opened with 2.7% growth against the background of the oil price upping. As a result the indicator overcame the level of 1,000 points and held its positions during the day. The oil-and-gas sector was the main growth driver. Activity still was indicated in Sberbank, which might have been supported by ruble strengthening versus the bi-currency basket. Among the economy stats only data on GDP of the UK was worth noticing, and also the consumer mood index in the U.S., which has been output after the close of RTS trades. Along with that we should note that the trades at MICEX were highly volatile. On one hand the market was supported by climbing oil prices, but on the other hand the pressure was provided by the American futures, which reacted to weak reports by Microsoft, American Express and Amazon.com, output Friday night.

Indian stock market daily morning report by Keynote Capitals (July 27, 2009, Monday)

Strength in the global markets, hopes of a recovery in various Indian industries and strong corporate earnings helped Indian markets gain yesterday, led by auto, real estate, metal and consumer durables stocks. The rally was mainly witnessed in large cap stocks. Asian markets are strong today on the hopes that the US economy is in the process of survival reflected from strong corporate earnings. Japanese markets gained backed by strength in the semi conductor stocks while the Hang Seng gained due to rally in the financial and property stocks. We expect a positive opening for the Indian markets today, on strong Asian markets. However, below expectations results of Reliance Industries and reports of Department of Telecommunications (DoT) inquiry on fudging subscriber numbers may weaken the market sentiment. FII buying in the cash segment is a positive.

The US markets managed to close positive 0.3% (July 24, 2009, Friday)

The US markets last Friday managed to close positive 0.3%. Negative surprises from technology stalwarts Microsoft and Amazon ended the week long earning euphoria. Word that the revised Consumer Sentiment figure dropped hard further weighed on the market on this last trading day of the week. Earnings for the most recent quarter largely came out ahead of expectations, with 111 beats, 10 in-line and 21 misses. But earnings beats were largely due to cost cutting measures, not upside surprises on top line. Specifically, 72 companies posted revenue that failed to live up to expectations, and 102 reported y-o-y declines in revenue.

USA stock market daily report by Millenium Traders (July 24, 2009, Friday)

Federal minimum wage goes up to $7.25 an hour today, an increase of 70 cents since last summer. Today marks the third raise in three years which has some people wondering if now was the best time to do it. Employers are already facing financial problems and with new benefits requirements, it makes it tougher to get everything paid especially in this economy. Experts are looking at states that have higher minimum wages, saying that those states also have a higher unemployment rates, so some are worried if they keep raising it small businesses wont be able to compete. Businesses might increase prices to cover the additional costs, therefore possibly hurting the economy even more. Others couldn't disagree more, saying that a higher minimum wage will do nothing but help pull us out of the recession. 3-5 million people will be affected by the mandated pay raise, adding up to an extra $28 dollars to their paychecks a week, which have some thinking you will start to see more Americans starting to spend again. Restaurants may see more people going out to eat and spending more time going places and doing things instead of staying home. Markets seemed to fall today following yesterdays rally, and investors took the opportunity to snag up shares in other sectors, including energy and pharmaceuticals. Stocks were moving lower near the end of the trading session showing some resilience with the Dow ending up in positive territory.

Russian stock market daily evening report by Veles Capital (July 24, 2009, Friday)

The week closed at the high notes against the background of climbing oil prices and ruble strengthening versus Euro-dollar. Still activity is focused on the quality first echelon: Gazprom, Sberbank, LUKOIL and Rosneft.