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Indian stock market daily morning report (November 01, 2012, day)

Contributed by Keynote Capitals

Views on markets today

- The BSE Sensex jumped 74.53 points or 0.40% to close at 18,505.38 and Nifty50 gained 21.80 points or 0.39% to close at 5619.70 led by stocks of Healthcare, Auto and Realty

- Dr Reddy's Labs spiked 2%, which had gained 1.6% on Tuesday due to strong Quarterly numbers. Shares of Cipla and Sun Pharma moved up 2.52% and 1.71%, respectively

- India's largest lender State Bank of India was up 1.71% while its competitor ICICI Bank rose 0.49% on short covering.

- Among the 13 sectoral indices, three sectors closed in negative, while remaining ten sectors closed in positive. Top Gainers: BSE HC up by 1.72%, BSE Auto surged 1.55% and BSE Realty gained by 1.43%. Top Losers: BSE CG down by 0.37%, BSE Oil & Gas snapped by 0.30% and BSE FMCG down by 0.17%.

- Market breadth was positive at ~1.14x as investors bought large cap stocks. On provisional basis, FII bought equity of '2.48bn and domestic institutions sold equity of '0.98bn in cash segment.

- Asian stocks recovered after weak opening on two separate surveys showed an improvement in manufacturing activity Thursday, although regional technology shares were checked by a plunge in Panasonic Corp. shares.

- We expect a positive opening for the Indian markets today following the cues from the Asian stocks.

Economic and Corporate Developments

- RBI Governor D Subbarao said that there is scope for further easing in rates in Q4

Buzzing Stocks

- Lodha group pays balance Rs. 275cr to DLF for land parcel in Lower Parel

- Dhanlaxmi Bank to raise equity up to Rs.200 cr via QIP

- Aban Offshore Board to consider raising funds via QIP

- Idea Cellular allots Secured Redeemable NCDs of Rs. 1000 cr at a coupon of 9.45% p.a.

- CCEA likely to lift export ban on some milk products today

- Mastek board meeting on November 5 to decide upon buy back

- Trent has allotted 8 lakh Shares at a price of Rs 980/sh to Tata Sons' sub

- 3i infotech allots 2.15 cr shares @ Rs 19.74/sh under CDR package on a pref basis to various