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INR gains 20 paise against the USD


The Indian rupee gained 20 paise against the US Dollar to 46.30 in early trade today.
The gain is mostly due to the sale of Dollars by Banks and exporters who were hoping for capital inflow in the market with the recovery in equity markets.


The rupee had closed at 46.50/51 against the dollar last weekend. It opened higher at 46.42/43 against the dollar, today and then rose to 46.30 before reaching at 46.34/35 at 1030hrs. In the early morning trade the rupee revolved between 46.30 and 46.45 against the dollar.

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Vascon Debuts with 3% premium; Syncom with 17%




Two firms, Vascon Engineering and Syncom Healthcare made their debut today on the Bombay stock exchange with a premium of 3 per cent and 17.3 per cent, respectively.


Vascon Engineering had fixed an issue price of Rs 165 per share for the issue. Its shares opened at Rs 170 on their first day and rose 5.1 per cent over the issue price to a high of Rs 173.45 on the exchange in Mumbai. Vascon has listed 9 crore shares on the exchange.

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Research and Analysis of Visaka Industries Limited : Fairwealth Securities


Visaka IndustriesLimited (VIL), established in 1981, is the second largest cement sheet manufacturer in India with the total installed capacity of 6,30,000 tonnes. VIL is well diversified company engaged in the manufacture of fibre cement products and synthetic blended yarn. Company has pan india presence with 6 manufacturing plant for asbestos making plants and two manufactring plant for garments.

FUTURE OUTLOOK:- At the current price of Rs 122, the stock is available at 5.54x of its FY09 earnings, 4.10x of its FY10E earnings and 2.79x of its FY11E earnings

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Nifty Daily Watch Outlook: FairWealth



Indian market failed to discount strong global cues; Indices faced selling pressure at higher levels and closed on a weak note after trading in a volatile session. SENSEX closed at 15922, down 120 points and Nifty at


4757, down 35 points from the previous close. CNX MIDCAP index was down 0.14% and BSE SMALLCAP index was up 0.10%. Top gainers included HINDALCO, HDFCBANK, STER, HEROHONDA, and GRASIM. Top losers are listed as M&M, SBIN, LT, TATASTEEL and SUNPHARMA.

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Plus Markets announces leadership shuffle


Simon Brickles and Stephen Hazell-Smith have finally decided to step down after actively running Plus Markets, the former Ofex for five years. The move would pave a way for the new generation to participate in the growth stories of the market amid very challenging times of slowdown.

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Government to give 6 months for FCCB to align with market prices


The government has decided to allow companies that issued foreign currency convertible bonds (FCCBs) before November 27, 2008 to align conversion price as closer to the market price as possible.


The companies will now be able to revise their FCCB conversion price to the level of average weekly high and low share prices of the period of two weeks before the date of issue of securities. The relevant date of issue is determined by the board.

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Rise in Euro but worries still loom about Greek debt


The Euro finally found a bit of respite after the short-term players' buyback but the gains were not significant enough as it still remained close to the nine-month low against the dollar. The meeting of euro zone finance ministers failed to bring in any kind of confidence about the matter of Greece's debt problems. There seems to be no ray of hope in the near future for these problems

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J B Chemicals & Pharmaceuticals Ltd (JBCPL) Long Term Buy Call














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Nifty Daily Watch Outlook: FairWealth Securities


Having positive global cues from European market, Indian market attracted buying interest and closed at strong note. SENSEX closed at
16226, up 188 points and NIFTY at 4855, up 53 points from the previous close. CNX MIDCAP index was up 0.52% and BSE SMALLCAP index was up 0.54%. PHARMACEUTICALS, CAPITAL GOODS and METALS attract buying while BANKING and TELECOM stood weak. Top gainers included ACC, TATAMOTORS, HUL, M&M, AMBUJACEM, HINDALCO and RANBAXY. Top losers are listed as BHARTIARTL, HEROHONDA, AXISBANK and JINDALSTEL.

NEXT SESSION……..

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Alembic Ltd Buy Call: Abhishek Jain, StocksIdea.com


Alembic

Alembic started its operations on 30 July, 1907 & now it is Asia's most respected integrated pharmaceutical company with manufacturing facilities in Vadodara and Panelav in Gujarat and Baddi in Himachal Pradesh. The plant in Vadodara has the largest fermentation capacity in India.


The Panelav facility houses both API (USFDA approved) and formulation manufacturing plants. It has a distribution network that spans 29 states in India and 75 countries globally. Company has "Bio Arc Research Center" at vadodara to capitalize its strength in research and developments.

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SEBI changes rules for debt, money market instruments


The Securities and Exchange Board of India (SEBI) has changed rules relating to the valuation of debt and money market instruments. The move is to make sure that the current market scenario is reflected in the portfolios of fund houses.

SEBI issued a circular on Tuesday which said that all securities in debt and money markets including those which offer a floating rate, with residual maturity of up to 91 days or over 91 days, would have to be valued at the weighted average price at which they are traded on the particular valuation day.

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Fundamental Weekly Outlook for European Union & United States


European Union:-
Tuesday: Germany GfK Consumer Confidence Survey (Previous 3.7, Forecast 3.5), France Producer Prices MoM (Previous 0.8%, Forecast 0.1%) & YoY (Previous -6.6%, Forecast -4.7%).
Wednesday: Germany Import Price Index MoM (Previous 0.5%, Forecast 0.3%) & YoY (Previous -8.1%, Forecast -5.2%), France Consumer Spending MoM (Previous 1.1%, Forecast 0.5%) & YoY (Previous 3.5%, Forecast 3.3%) 

United States:

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Fundamental Weekly Outlook for United Kingdom & Japan



Japan:
Monday: Trade Balance (Previous 807.1B, Forecast 300.0B), All Industry Activity Index MoM (Previous -0.6%, Forecast 1.0%),
Tuesday: Small Business Confidence (Previous 43, Forecast N/A).
Thursday: BOJ Minutes (Text report).

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Fundamental Weekly Outlook for Australia & Canada


Australia:
Tuesday: Conference Board Leading Index (Previous 0.3%, Forecast N/A).


Canada:
Monday: Retail Sales MoM (Previous 1.0%, Forecast 0.7%), Retail Sales Less Autos MoM (Previous 1.1%, Forecast 0.2%).
Wednesday: GDP MoM (Previous 0.4%, Forecast 0.3%).

Forex trading by Munther Marji for Forexpros.

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Record trading at Toronto stock exchange despite downturn


Toronto, Jan 7 - Companies raised a record $60 billion on the Toronto Stock Exchange (TSX) last year despite the global downturn.


The third biggest stock exchange in North America, the Toronto Stock Exchange is also the world's biggest energy market where more than 400 global oil and gas companies are traded.


The stock exchange raised $60.0 billion, surpassing the previous record of $47.6 billion set in 2007. The TSX executed trading volume of 118.5 billion, again exceeding the record of 109.2 billion set in 2008.

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Wall Street stocks end mostly higher


New York, Jan 8 - Major Wall Street stock indices have ended mostly higher amid gathering economic optimism.


A government report on Thursday showed that the pace of job losses continues to moderate.

Analysts from Morgan Stanley said that commercial real estate, widely feared as the other shoe to drop after the meltdown in the US residential property market, would not become a major impediment to economic growth.

Shares in the retail sector rose as major US chain stores raised forecasts or delivered earnings reports that beat expectations.

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