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Showing posts from August, 2014

BSE TO LAUNCH DAILY INCENTIVE SCHEME

Leading bourse BSE will introduce a new incentive scheme for brokers to attract more retail investors to equity derivatives, under which it would pay daily incentives besides existing trading-based payouts. The new daily scheme, under which payouts to brokers for bringing in more retail investors would be linked to open interest volumes in a day, would become effective from September 26, the BSE said in a notice. Earlier, this scheme was scheduled to begin from September 8. Besides, the exchange would also revise its trading-based retail incentive scheme with effect from October 1. This revision was also earlier scheduled to take effect from September 8.
Under the daily incentive scheme, the exchange will pay investors Rs 10 per lot up to a limit of 10 lots per Unique Client Code (UCC) per day, out of its daily pool of Rs 1 lakh.
The scheme is applicable for S&P BSE Sensex Futures & Options contracts, in the near and current month contracts, it noted.

Rs. 100/- 1000/- COUNTERFEITS ON RISE

Currency counterfeiters appear to have started focusing more on the Rs 100 and Rs 1,000 denominations, even though the traditional favourite Rs 500 bills continue to be the most to be faked by numbers, the Reserve Bank has said. The banking system detected over 2.52 lakh pieces of counterfeit notes of Rs 500 denomination in FY14 as against the 2.81 lakh the year before, while the number of Rs 1,000 denomination fake notes rose to 1.10 lakh as against the 98,459 in the preceding year, it said. Detection of Rs 100 denomination fake notes increased by 10,000 pieces during the fiscal to 1.18 lakh pieces, the RBI said in its recently released annual report. "During 2013-14, the detection of counterfeit notes of Rs 1,000 and Rs 100 increased by 11.8 per cent and 9.8 percent respectively, whereas that of Rs 500 denomination decreased by 10.3 per cent," the central bank said in its annual report. The data, however, exclude the detection by the state police and various other law enfo…

HOUSEHOLD SAVNGS DIP IN LAST 9 YEARS

Household financial savings rates continued to remain low, inching up a paltry 10 basis points to 7.2 per cent of GDP in 2013-14 amid sticky inflation. Savings in deposits by the households rose, however, to Rs 1 trillion (17 per cent) in the year to Rs 6.91 trillion in FY14 as against Rs 5.91 trillion in 2012-13. They constituted about 59 per cent of the gross financial savings, of which about 53 per cent constituted bank deposits. Savings in shares and debentures dropped 22 per cent to Rs 33,700 crore in FY14, from Rs 43,000 in the previous fiscal, according to a RBI report. Savings by individuals in MFs (through shares and debentures) saw a 40 per cent drop to Rs 21,000 crore in the reporting year from Rs 35,000 crore, while savings in currency declined 9 per cent to Rs 1.02 trillion from Rs 1.12 trillion. Net financial savings of households, which is the gross financial saving minus financial liabilities, rose 13 per cent to Rs 8.19 trillion from Rs 7.22 trillion in 2012-13. The R…

WEEKLY ASTRO GUIDE FOR NIFTY

SUBDUED MIDWEEK…
Planetary Position ::  During the current week Moon would be transiting  from Visakha in Librato Poorvashadha  in Sagittarius. - Sun transits in Pubbain Leo . - Mercury transits  in    Uttara and Hasta  constellations  in   Virgo.- Venus transits in Makha in Leo. - Mars  transits in  Visakha   constellation in Libra and Scorpio .    - Saturn transits in Visakha constellation in Libra  .  - Jupiter transits in Pushyami in Cancer ..Uranus trine Jupiter will take place in the last week of September which is a Bullish sign and any correction before that time could be an opportunity to Buy.NIFTY::(7954(+41)   Strong Resistance for Nifty at 8075 Nifty gained about 0.50% during the Third week of gain and is close to the magic figure of 8000 mark. After it crossed 7000 mark on 12th May, it did not go below 7000 and is all set to touch 8000 in the current week (within a span of 100+ days). Nifty crossed 6000(in the recent spell on 17th February and did not  go below 6000 mark a…

INDIAN EQUITIES OUTSHINE GLOBAL PEERS

Indian equities have outperformed most global indices this calendar year so far with the BSE-100 Index giving 27 per cent return as compared to MSCI emerging markets at 6 per cent and MSCI World at 2 per cent, says British brokerage firm Barclays. According to Barclays India equity strategy report, returns on Indian equities have largely been driven by earnings growth over the past 15 years. "In contrast to this long-term trend, this year has witnessed a 27 per cent return of which 19 per cent is due to multiples expansion. While this could be due to raised expectations on the back of change in India's political leadership, we believe that positive earnings momentum is required to sustain these returns," Barclays said. Despite this strong run, markets do not appear expensive yet with the one year forward valuation ratios for the BSE-100 Index at or near its 10-year average level. Further, comparing Indian equities to global equities, we find that the Indian equities valu…

MODI WANTS RUPAY TO BE GLOBAL CARD

Aiming to take 'RuPay' cards to the international level, Prime Minister Narendra Modi today said the success of financial inclusion scheme Jan Dhan Yojana will pave way for its global acceptance. Under the Jan Dhan scheme launched today, banks will provide every account holder a 'RuPay' debit card with inbuilt Rs 1 lakh accident insurance. "... We are all aware globally about the popular Visa Card. Should we not also aspire that our 'RuPay' card becomes acceptable all over the world? Should it not also have the same credibility? After today's event, it looks like there is full possibility," Modi said after inaugurating the scheme. The RuPay platform -- developed by National Payments Corporation of India (NPCI)-- is already being used by certain banks like ICICI, State Bank of India, Punjab National Bank, among others, for clearings and settlements. RuPay, which works on three channels -- ATMs, Point of Sales (POS) and online sales, is the seventh …

NIFTY OUTLOOK FOR 1st SEPTEMBER & REVIEW

CLOSING CRUCIAL...


Nifty                               7954     +18 Nifty made another all time closing high and closed with a gain of 18 point amid narrow and choppy movement. August Derivative series and month closed at the highest level. However, a wide range can be expected early next week in view of the very narrow trading range days in the last Two weeks. However, Nifty continued to close above 7900 mark and short term bullishness would be terminated only if it closes  below 7860 and further strength would be reinforced only when it surpasses 8000 mark . Nifty spot is expected to encounter resistance at 8000, 8035 and find support at 7915, 7875 for Monday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to display general bullishness in the forenoon session and the closing session quite crucial in view of the likely huge volatility. 
INDICES CLOSE @ RECORD HIGHS

Riding high on capita…

NIFTY OUTLOOK FOR 28 & REVIEW

SCRIP SPECIFIC MOVEMENT

Nifty                               7936     +31 
Nifty made another all time closing high and closed with a gain of 31 point amid narrow and choppy movement. Further, Nifty has been closing in a tight range and  a wide move can be expected . However, Nifty continued to close above 7900 mark and short term bullishness would be terminated only if it closes  below 7850 and further strength would be reinforced only when it surpasses 7970. Nifty spot is expected to encounter resistance at 7975, 8010 and find support at 7895, 7860 for Thursday.Being last day of derivative closing, stock specific movement is most likely.  While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to display zigzag / volatile movement with scrip specific movement.

DREAMRUN CONTINUES
Indian markets continued their record-setting spree with Sensex today jumping over 117 points to settle at new closing p…

PAID VACATION TIME NOT SUFFICIENT

When it comes to paid holidays, most Indians feel that the amount of vacation time given in the country is "not fair" compared to what is usually given globally, according to a recent survey.
"About 53 per cent of the Indian respondents do not feel the amount of paid vacation time given in India is fair compared to what the rest of the world receives," according to a survey 'Working on Vacation Survey' by TripAdvisor. The report surveyed more than 17,000 employed respondents across 11 countries, including 1,100 in India. The other 10 countries include US, Australia, Brazil, France, Germany, Italy, Japan, Russia, Spain and the UK.
Both Indian and the US respondents felt they would like an additional four days of vacation, considering 22 days of paid vacation to be fair and reasonable. Most Indians get 18 days paid vacations and they consider 22 days fair, it said adding that it is lower among the countries surveyed. Brazilians and Russians want the most vacati…

NIFTY OUTLOOK FOR 27 & REVIEW

FORENOON BETTER
Nifty                               7905     -2 While Nifty closed flat for the day, broader market was quite weak with negative  Advance Decline ratio at about 1:1.9. Further, Nifty has been closing in a tight range and  a wide move can be expected before derivative expiry. However, Nifty continued to close above 7900 mark and short term weakness  would set in only when it closes below 7850 and further strength would be reinforced only when it surpasses 7970. Nifty spot is expected to encounter resistance at 7945, 7980 and find support at 7865, 7830 for Wednesday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to be generally  better in the forenoon and could encounter selling pressure towards close.

SENSEX UP, NIFTY DOWN
The benchmark Sensex today erased initial losses and closed about six points up at a new closing peak of 26,442.81, extending gains for the fourth stra…

ENACT LAWS TO PROTECT INVESTORS

Capital markets regulator Sebi today asked the States to enact laws to ensure depositors' interests are safeguarded. "Sebi Chairman U K Sinha suggested that the States enact depositors' investor protection laws and strengthen the enforcement mechanism," a release from the Reserve Bank said, quoting Sinha who was present at the 27th conference of state Finance Secretaries held here. The chief of capital markets watchdog also informed the gathering about the recent changes made in the Sebi Act to curb unauthorised deposit schemes. Last week, Sebi directed PACL, a Delhi-based property developer, to return a whopping Rs 49,100 crore to depositors collected through an illegal investment scheme. The Sebi action comes on the heel of West Bengal's Saradha scam and schemes involving two Sahara Group companies. Certain entities, which are out of purview of financial sector watchdogs, have often taken advantage of the regulatory loopholes to raise large am…

PAID VACATION TIME NOT SUFFICIENT

When it comes to paid holidays, most Indians feel that the amount of vacation time given in the country is "not fair" compared to what is usually given globally, according to a recent survey.
"About 53 per cent of the Indian respondents do not feel the amount of paid vacation time given in India is fair compared to what the rest of the world receives," according to a survey 'Working on Vacation Survey' by TripAdvisor. The report surveyed more than 17,000 employed respondents across 11 countries, including 1,100 in India. The other 10 countries include US, Australia, Brazil, France, Germany, Italy, Japan, Russia, Spain and the UK.
Both Indian and the US respondents felt they would like an additional four days of vacation, considering 22 days of paid vacation to be fair and reasonable. Most Indians get 18 days paid vacations and they consider 22 days fair, it said adding that it is lower among the countries surveyed. Brazilians and Russians want the most vacati…

NIFTY OUTLOOK FOR 26 & REVIEW

FORENOON RELATIVELY BETTER

Nifty                               7907     -6 Supreme Court verdict on coal blocks allocation had given a jolt to the market as it fell sharply from higher levels and close with a minor loss . However, Nifty continued to close above 7900 mark and short term weakness  would set in only when it closes below 7850 and further strength would be reinforced only when it surpasses 7970. Nifty spot is expected to encounter resistance at 7950, 7985 and find support at 7865, 7830 for Tuesday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to be relatively better in the forenoon and could encounter selling pressure in Second half of the day. SUPREME COURT VERDICT PUT BRAKES TO MARKET Indian markets hit new highs today but the Supreme Court's ruling on coal block allocations triggered a wave of selling, espcially in metal shares, after which the Nifty surrendered …

LAND ROVER TO DEVELOP INTELLIGENT SELF LEARNING CAR

Researchers at Tata group's flagship Jaguar Land Rover (JLR) are pioneering a cutting-edge technology to develop an intelligent self-learning vehicle that will offer a personalised driving experience and help prevent accidents by reducing driver distraction. Using artificial intelligence techniques, Jaguar Land Rover self-learning car will offer a comprehensive array of services to the driver, courtesy of a new learning algorithm that recognises who is in the car and learns their preferences and driving style, the company said. The software then applies this learning by using a range of variables including a personalised calendar, the time of day, traffic conditions, and the weather to predict driver behaviour and take over multiple daily driving chores, subsequently allowing the driver to better concentrate on the road ahead, it added. The features of the self-learning car comprises of vehicle personalisation, destination prediction, fuel assist, predictive phone call, passenger …

PHARMA CONTINUES TO GROW IN DOUBLE DIGITS

The Indian pharmaceutical market will continue to grow in the double digits, representing a better growth opportunity than many other geographic markets, Moody's Investors Service says. However, drug companies in the country could face higher debt levels as the pharmaceutical sector grows, resulting in mergers and acquisitions, it said. "As consolidation in the industry continues globally, particularly among generic drug companies, Indian firms will increasingly look to become involved in global mergers and acquisitions. We have already seen some Indian companies increasing their pace of acquisitions," Moody's senior vice president Michael Levesque said in a report here. "Even if India's GDP growth slows or is uneven, the Indian pharmaceutical market would still represent a better growth opportunity than many other geographic markets, because of improving socioeconomic conditions and access to health care, against the backdrop of a rising prevalence of disea…

BENGALURU RECORDS 41% APPRECIATION IN MID INCOME HOMES

Bengaluru has witnessed maximum appreciation of 41 per cent in the mid-income housing segment during the last three years, while Pune tops the list with an average increase of 39 per cent in the high-end properties among the country's seven major cities. In Delhi-NCR, housing prices rose by 22 per cent and 24 per cent in mid segment and high-end categories, respectively, over the last three years (June 2011 and June 2014), according to a report by global property consultant Cushman & Wakefield. The report analyses the performance of the residential segment of seven major cities -- Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Pune and Hyderabad -- to rank the average capital value appreciation. "Mid-segment residential properties in Bengaluru market have seen the highest average capital values appreciation in the last 3 years (H1 2011–H1 2014), while Pune recorded the highest average appreciation in the high-end properties in the same period," C&W said in a sta…

WEEKLY ASTRO GUIDE FOR NIFTY

Caution at Higher Levels (as Mars Saturn conjunction could escalate Geo Political Tensions)
Planetary Position - During the current week Moon would be transiting  from Makha in Leo to Hastha in Virgo. - Sun transits in Makha in Leo . - Mercury transits  in    Pubba and Uttara constellations  in   Leo. - Mars  transits in  Visakha i  constellation in Libra  .   - Saturn transits in Visakha constellation in Libra  .   Jupiter transits in Pushyami in Cancer . Astro range wise, Nifty is bullish with about 8000 as first target. Most Important cosmic event is the forthcoming Mars Saturn conjunction on 25 / 26thAugust which is to be watched for possible  geo political tensions etc., and their consequential effect on markets.
NIFTY::(7913(+122)
Nifty gained about 1.50% for the Second week . However, it has been range bound and traded in a narrow range with an imminent breakout / breakdown in the coming week. Technically, present bullishness would be under threat if it closes below7850. Macro  economic…

MFI's LOOK AT RURAL OPPORTUNITIES

Enthused by the Centre's plan to open 7.5 crore bank accounts over the next few years, MFIs and other such financial institutions that are working in rural areas have charted out massive expansion plans. The comprehensive financial inclusion plan was announced by Prime Minister Narendra Modi in his Independence Day speech. The Microfinance Institutions Network (MFIN) with 2.5 crore rural customers in its fold is ready to support the comprehensive financial inclusion programme. "The microfinance sector is keen to support the comprehensive financial inclusion programme of the Modi government," MFIN president Samit Ghosh told PTI on the sidelines of a financial services summit, organised by newsportal VCCircle here today. MFIs can help the programme by opening 2.5 crore bank account for the programme, he added. Capital First, which is into providing small loans to entrepreneurs, has charted out a five-year plan as per which it has plans to compound its business by 22-25 per…

DELHI RANKED 111th IN LIVING CONDITIONS

Delhi has been ranked a dismal 111th out of 140 world cities in a latest global liveability study, pointing to the lack of urban planning across India's polluted and chaotic cities. India's capital shares the ranking with the Moroccan city of Casablanca in the Economist Intelligence Unit's (EIU) 'Global Liveability Ranking' released here yesterday. However, Delhi's educational institutions can take pride in the fact that they helped rank the city at 80 alongside Shanghai in China. The ranking, which provides scores for lifestyle challenges in 140 cities worldwide, shows that since 2009 average liveability across the world has fallen by 0.7 per cent, led by a 1.3 per cent fall in the score for stability and safety. Karachi in Pakistan and Dhaka in Bangladesh were the Asian countries that did not fare too well and ranked in the bottom 10 at 135 and 139 respectively. "Recent conflicts in Ukraine and the Middle East have underlined continuing fallout from a de…

INSURER's WEBS TO PROVIDE UNCLAIMED DATA

In a customer friendly move, insurance regulator IRDA today asked all insurers to give information on their respective website about unclaimed amounts of Rs 1,000 or more due to policy holders. "All insurers are required to display the information about any unclaimed amount above Rs 1,000 of policyholders on their respective website," said a circular of Insurance Regulatory and Development Authority (IRDA). It further said insurance companies should provide a facility in the website to enable policyholders or dependents to find out "whether any unclaimed amount due to them are lying with the insurer". IRDA said said a policyholder should be able to find out the information by entering details like name, date of birth, policy number and PAN. "Name of the policyholder and date of birth may be made as compulsory fields to enter (on website), while policy number and PAN may be optional fields," the circular added. The regulator further said insurers are advis…

OIL PRICES MIXED

Oil prices were mixed in Asia today as investors await the release of US Federal Reserve minutes from its July meeting, while keeping an eye on the latest stockpiles data. US benchmark West Texas Intermediate (WTI) for September delivery rose 34 cents to USD 94.82 on its last day of trading. It tumbled USD 1.93 in New York yesterday as speculative traders sold off ahead of its expiration date. Brent crude for October eased three cents to USD 101.53. Desmond Chua, market analyst at CMC Markets in Singapore, said dealers are squaring positions before they scrutinise the minutes of a two-day Fed meeting that ended on July 30. Investors will be looking at whether the minutes "reveal anything insightful pertaining to tightening monetary policy", Chua said. Bank policymakers have said the Fed will hold its near-zero interest rate policy until the US economy strengthens but may raise rates if the jobs market kept improving. Dealers are also awaiting the latest official US stockpile…

NOFTY OUTLOOK FOR 21 & REVIEW

SECOND HALF BETTER
Nifty                               7875     -23
Nifty snapped Six day winning streak and fell marginally. While Nifty recorded a fall for statistical purpose, broader market was strong with  higher Advances than Declines.  Stop loss for Nifty long positions may be kept at 7775 on close basis. Nifty’s further bullishness would be reinforced only when it clears 7925. Nifty spot is expected to encounter resistance at 7915, 7950 and find support at 7835, 7800 for Thursday.  While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market could get buying support at lower levels and recover in Second half of the day.  FALL AFTER 7 DAYSMarkets dropped for the first time in seven sessions today with Sensex falling 106.38 points to end at 26,314.29 and Nifty easing by 22.20 points to 7,875.30 on profit taking at record high levels, amid mixed global cues. Although, the benchmark indices ended in the re…

NIFTY OUTLOOK FOR 19 & REVIEW

CHOPPY MOVEMENTS...BUY ON DECLINE
Nifty                               7874     +83
Indices scaled a new high and Nifty closed with a gain of more than 1%. Bank and Infra stocks led the rally. Nifty being at a new high, it can be expected to touch the magic figure of 8000 in this month. Nifty spot is expected to encounter resistance at 7915, 7950 and find support at 7835, 7800 for Tuesday.  While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to  face zigzag / choppy movements and any reasonable decline during the day may be utilized to buy with a target of about 8000 during the month.
INDICES @ NEW HIGHS Rising for the fifth day, benchmark Sensex today gained 288 points to end at new peak of 26,390.96 and the Nifty soared 83 points to close at new high of 7,874.25 after Prime Minister Narendra Modi's August 15 pledge to boost infrastructure and manufacturing fired up markets. Opening after …

WEEKLY OUTLOOK FOR NIFTY

Close to Strong Resistance 
Planetary Position... During the current week Moon would be transiting  from Krittika in Taurus to Punarvasu in Cancer. Sun transits in Makha in Leo.Mercury transits  in Makha and Pubba constellations  in Leo. Mars  transits in  Swathi  constellation in Libra. Saturn transits in Visakha constellation in Libra . Jupiter transits in Pushyami in Cancer . Last Week’s range was the monthly astro range and Nifty can be considered bullish above 7850 and bearish below 7550 for the rest of the month. Forthcoming Mars Saturn conjunction on 25 / 26th August is to be watched for any geo political tensions etc.,
NIFTY::(7791(+222)  
After Two weeks’ of fall Nifty staged a smart come back and rallied nearly 3%, gaining on all the Four days Of the week. While Nifty had gone up smartly due to the rise in certain heavy weight stocks, mid / small cap Stocks fared poorly  However, FIIs, who have been sellers had turned out to be buyers in Second half of the week which improved …

INDIANS TOP INVESTORS IN DUBAI REALTY MARKET

Indians have been ranked first among foreign investors in Dubai's real estate sector, making a total of 4,417 transactions worth nearly USD 3 billion in the first half of the year, according to an official report. Indians, British and Pakistanis ranked top three foreign investors in Dubai's real estate market with a combined share of Dh20.83 billion for 9,739 transactions in the first half of the year, according to the report by the Dubai Land Department (DLD). The DLD's list included the amount of real estate transactions conducted by foreign nationals, with investors from India, Pakistan, Britain, Canada, Russia, China, USA, France and Afghanistan involved in 14,231 property deals worth a total of Dh 30.533 billion for the first half of 2014. Indian nationals were ranked first for foreign investment, making a total of 4,417 transactions worth Dh 10.523 billion (USD 2.865 billion), Khaleej Times reported. British investors were in second place with 2,258 transactions wort…

9/11 DUST CLOUD CAUSED WIDESPREAD PREG ISSUES

Pregnant women living near the World Trade Center here during the 9/11 terror attacks experienced higher-than-normal negative birth outcomes, according to a new study. The study by Princeton University's Woodrow Wilson School of Public and International Affairs found that these mothers were more likely to give birth prematurely and deliver babies with low birth weights. Their babies - especially baby boys - were also more likely to be admitted to neonatal intensive care units after birth, according to the study led by the Wilson School's Janet Currie and Hannes Schwandt. "Previous research into the health impacts of in utero exposure to the 9/11 dust cloud on birth outcomes has shown little evidence of consistent effects," said Currie, Henry Putnam Professor of Economics and Public Affairs, director of the economics department and director of the Wilson School's Center for Health and Wellbeing. "This is a puzzle given that 9/11 was one of the worst environme…