Markets 4 U

Equity Market Update for - January 30, 2009

Equity Markets For The Day The Sensex ended the day with a gain of 187.96 points, or 2.04% at 9,424.24. The broad-based NSE Nifty climbed 50.85 points, or 1.80% at 2,874.80 Top Gainer were JP Associates(10.86%),Hindalco(7.60%),DLF(6.73%),Maruti(5.54%),Rel Comm(5.40%) Major losers were Sun Phrama(6.14%),BHEL(2.78%),Tata Motors(1.16%),Infosys(0.65%),NTPC(0.58%). Overall market breadth was positive. Out of the total 2,503 stocks traded at BSE, 1,379 advanced, 1,014 declined while 110 remained unchanged. The     INDEX CLOSE POINTS %CHANGE NIFTY 2,874.80 +50.85 1.80% SENSEX 9,424.24 +188.0 2.04%

TOP 3 GAINERS (source: bseindia.com) GAINERS LAST PRICE % GAIN JP ASSOCIATES 77.10 10.86 HINDALCO 49.55 7.60 DLF 176.10 6.73 TOP 3 LOSERS LOSERS LAST PRICE % LOSS SUN PHARMA 1073.00 6.14 BHEL 1318.00 2.78 TATA MOTORS 148.80 1.16

Debt Market Update for January 30, 2009

MIBOR 4.25%   FOREX $ Rupee 48.87/48.88 1 year fwd 1.92%-1.96% WPI INFLATION  5.64% Money market rates   CD 30 days 5-5.5% 90 days 6.00-6.25% 1 year 7%-7.25%   G SEC YIELD 30 year (6.83% GOI 2039) 7.11% 9 year (8.24% GOI 2018) 6.17% US 10 YR. yield 2.84%     NEXT AUCTION AS PER CALENDAR Jan 30-GOI-5 yr-Rs.3000 cr; 30 yr -Rs.3000 cr; 10 yr -4000 cr Last Auction Jan 30-GOI-5 yr-Rs.3000 cr; 30 yr -Rs.3000 cr; 10 yr -4000 cr TREASURY BILL AUCTION TENOR SIZE DATE CUT OFF PREVIOUS CUT OFF 91 day 8000 cr 28-Jan 4.79% 21-Jan 4.67% 182 day 1500 cr 21-Jan 4.55% 07-Jan 4.64% 364 day 1000 cr 28-Jan 4.59% 14-Jan 4.51% YIELD COMPARISON SECURITY TODAY 1 D Ago 1 Wk Ago  1 Mt Ago    30-Jan 29-Jan 23-Jan 30-Dec 8.24% GOI 2018 6.14% 6.11% 5.72% 5.27% 7.99% GOI 2017 6.49% 6.38% 6.31% 5.60% 6.83% GOI 2039 7.11% 6.89% 6.91% - CORPORATE  BOND MARKET Market Behavior and sentiment for the day: Corporate bond market was range-bound, with lack-luster activity. AAA BENCHMARKS / SPREADS 1Y 8.30 370 2Y 8.55 333 3Y 8.85 325 4Y 8.90 292 5Y 8.90 295 6Y 8.98 268 7Y 9.1 264 10Y 9.15 298

G-sec market comments: G-sec markets opened with negative bias ahead of auction  and weakened further on higher than expected auction cut-off yield and expectation of further additional G-Sec borrowings. The benchmark G-Sec bonds (8.24% GOI 2018) yields closed at 6.14% as against the previous close of 6.11%, on higher auction cut-off. Yields touched intra-day high of 6.31%. Liquidity was comfortable, with over night call money market rates touching intra-day low of 2%. The net RBI's LAF balance was positive at around Rs.56,460 cr. Next week, the markets are expected to take cues from  inflation, domestic liquidity position and global economic data-points.

Contact Us / Sign up a friend : Sources: NSE MIBOR, Top Gainers and Losers :- nse india.com.  Dollar/ Rupee Rate, Forward Premia, Repo amounts, Sensex / Nifty details, Tbill auction details, Auction details :- Reuters.  Gsec Benchmark and U.S. yields, Corporate yields :- Reuters, Bloomberg & RMF Team.  CP benchmark :- Bloomberg and RMF Fund Managers. FII flows :- sebi.gov.in Disclaimer and Unsubscription : You are receiving this emailer because you are an investor of Reliance Mutual Fund, or you have subscribed to our other daily emailers. Your privacy is very important to us. Click here to Unsubscribe. Since India has no anti-spamming law, we follow the US directive passed in Bill.1618 Title III by the 105th US Congress, which states that mail cannot be considered spam if it contains contact information, and a remove mechanism (which this email does) . Copyright © 2002. All Rights Reserved to Reliance Mutual Fund. The views expressed in this newsletter are those of Reliance Mutual Fund (RMF) and not that of the stock market or  the financial markets. RMF makes no representation as to the quality, liquidity or market perception on the securities/issuer/borrower, nor does it provide any guarantee whatsoever. The risk arising out of the purchase/participation in any issue will rest fully with you without any form of recourse to Reliance Mutual Fund.

Investing Term of the Day: bid size

Term of the Day - bid size

For Thursday, January 29, 2009

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Term of the Day - bid size

The number of shares that are being offered for purchase at the bid price, often expressed in terms of hundreds of shares. Some traders try to use the bid size and ask size to measure impending short term upward or downward pressure on the stock's price. This can work for stocks on exchanges such as NYSE and AMEX, but is far less useful on Nasdaq, which has market makers ready to buy and sell shares, rather than specialists who balance books of buy and sell orders.

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Quote of the Day

Money, not morality, is the principle commerce of civilized nations. - Thomas Jefferson

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Markets 4 U

Equity Market Update for - January 29, 2009

Equity Markets For The Day The Sensex ended the day with a loss of 21.19 points, or 0.23% at 9,236.28. The broad-based NSE Nifty fell 25.55 points, or 0.90% at 2,823.95. Top Gainer were M&M(5.16%),JP Associates(4.46%),Maruti(4.32%),Tata Motors(3.58%), Hindalco(3.37%). Major losers were DLF(8.72%),Airtel(4.75%),Wipro(3.56%),BHEL(3.06%),Rel Comm(2.64%). Overall market breadth was negative. Out of the total 2,506 stocks traded at BSE, 1,152 advanced, 1,258 declined while 96 remained unchanged The     INDEX CLOSE POINTS %CHANGE NIFTY 2,823.95 -25.55 0.90% SENSEX 9,236.28 -21.19 0.23%

TOP 3 GAINERS (source: bseindia.com) GAINERS LAST PRICE % GAIN M&M 298.50 5.16 JP ASSOCIATES 69.15 4.46 MARUTI 543.00 4.32 TOP 3 LOSERS LOSERS LAST PRICE % LOSS DLF 162.20 8.72 AIRTEL 622.55 4.75 WIPRO 226.00 3.56

Debt Market Update for January 29, 2009

MIBOR 4.21%   FOREX $ Rupee 48.97/48.98 1 year fwd 1.87%-1.92% WPI INFLATION  5.64% Money market rates   CD 30 days 5-5.5% 90 days 6.25-6.5% 1 year 7%-7.25%   G SEC YIELD 30 year (6.83% GOI 2039) 6.89% 9 year (8.24% GOI 2018) 6.11% US 10 YR. yield 2.68%     NEXT AUCTION AS PER CALENDAR Jan 30-GOI-5 yr-Rs.3000 cr; 30 yr -Rs.3000 cr; 10 yr -4000 cr Last Auction Jan 16-GOI-5 yr-Rs. 4000 cr; 9 yr -Rs. 3000 cr, 30yr - Rs. 3000 cr TREASURY BILL AUCTION TENOR SIZE DATE CUT OFF PREVIOUS CUT OFF 91 day 8000 cr 28-Jan 4.79% 21-Jan 4.67% 182 day 1500 cr 21-Jan 4.55% 07-Jan 4.64% 364 day 1000 cr 28-Jan 4.59% 14-Jan 4.51% YIELD COMPARISON SECURITY TODAY 1 D Ago 1 Wk Ago  1 Mt Ago    29-Jan 28-Jan 22-Jan 29-Dec 8.24% GOI 2018 6.11% 6.04% 5.81% 5.55% 7.99% GOI 2017 6.38% 6.45% 6.34% 5.90% 6.83% GOI 2039 6.89% 7.07% 7.10% - CORPORATE  BOND MARKET Market Behavior and sentiment for the day: Corporate bond market was range-bound, with lack-luster activity. AAA BENCHMARKS / SPREADS 1Y 8.00 353 2Y 8.50 329 3Y 8.70 310 4Y 8.70 294 5Y 8.80 289 6Y 9.01 267 7Y 8.95 259 10Y 9.05 301

G-sec market comments: G-sec markets rallied at the longer end of the curve. The cut-off of MSS repurchase auction security was at 4.29%. The benchmark G-Sec bonds (8.24% GOI 2018) yields closed at 6.11% as against the previous close of 6.04%, on higher inflation numbers. Liquidity was comfortable, with over night money market rates in 3.5%-4.5% range. The net RBI's LAF balance was positive at around Rs.61,505 cr. This week, the markets is expected to take cues from G-sec auction cut-off, domestic liquidity position and global economic data-points.

Contact Us / Sign up a friend : Sources: NSE MIBOR, Top Gainers and Losers :- nse india.com.  Dollar/ Rupee Rate, Forward Premia, Repo amounts, Sensex / Nifty details, Tbill auction details, Auction details :- Reuters.  Gsec Benchmark and U.S. yields, Corporate yields :- Reuters, Bloomberg & RMF Team.  CP benchmark :- Bloomberg and RMF Fund Managers. FII flows :- sebi.gov.in Disclaimer and Unsubscription : You are receiving this emailer because you are an investor of Reliance Mutual Fund, or you have subscribed to our other daily emailers. Your privacy is very important to us. Click here to Unsubscribe. Since India has no anti-spamming law, we follow the US directive passed in Bill.1618 Title III by the 105th US Congress, which states that mail cannot be considered spam if it contains contact information, and a remove mechanism (which this email does) . Copyright © 2002. All Rights Reserved to Reliance Mutual Fund. The views expressed in this newsletter are those of Reliance Mutual Fund (RMF) and not that of the stock market or  the financial markets. RMF makes no representation as to the quality, liquidity or market perception on the securities/issuer/borrower, nor does it provide any guarantee whatsoever. The risk arising out of the purchase/participation in any issue will rest fully with you without any form of recourse to Reliance Mutual Fund.

Edserv Soft / Gemini Engi-Fab IPO opening next week

1. Gemini Engi-Fab IPO opening on Feb 03 Incorporated in 1998, Gemini Engi-Fab Ltd is  Andheri, Mumbai based manufacturer of industrial fabrication related products for verity of industries. Gemini Engi-Fab Limited is entering in the capital markets with an initial public offering, IPO of 55,00,000 Equity Shares for cash, at a premium to be decided through a 100% Book Built Issue. The price band for the issue has been fixed at Rs 75/- at lower level and Rs 80/- at upper level for equity share of Rs 10/-. The issue opens on Feb 03, 2009, and closes for subscription on Feb 06, 2009. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). 2. Edserv Softsystems Limited IPO opening on Feb 05 Incorporated in 2001, Edserv Softsystems Limited is in the business of web-learning, software development staffing solutions. Edserv Softsystems Limited is entering in the capital markets with an initial public offering, IPO of 39, 73,908 Equity Shares for cash, at a premium to be decided through a 100% Book Built Issue. The price band for the issue has been fixed at Rs 55/- at lower level and Rs 60/- at upper level for equity share of Rs 10/-. The issue opens on Feb 05, 2009, and closes for subscription on Feb 09, 2009. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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Does L&T have a game plan for Satyam?

Morgan Stanley   The Backdrop: L&T built up a 4% stake in Satyam in early January 2009, before the disclosure by Satyam's promoters that the accounts had been falsified. Post the disclosure, L&T did not purchase any shares until January 23, 2009, on which day, in two block deals, the company upped its stake to 12%. Given that Satyam is currently a black box with little clarity on its assets and liabilities, we (in line with the rest of the market) viewed the development with mounting concern. L&T's CMD, Mr. A.M. Naik, and CFO, Mr. Y.M. Deosthalee, got on a call with investors today to alleviate concerns and discuss the company's game plan on Satyam.   L&T's Game Plan for the First Stake Purchase: The acquisition of the first 4% was done to help L&T Infotech (the IT services arm of the company) to compete with the top-tier companies in the IT services space. With the Satyam franchise (thought good at that time) available relatively cheap, and the promoters holding a low stake (8.6%), L&T management believed that the acquisition of a small stake would be enough to push through a strategic alliance between Satyam and L&T Infotech, allowing the companies to go to market together.   L&T's Rationale for the Stake Increase: L&T's plan for Satyam has not really changed dramatically over the last few weeks. After waiting for around three weeks to get more clarity on Satyam's liabilities, L&T has increased its stake to 12%, based on the information it had available. The end game remains the same, with L&T looking for a strategic alliance between L&T Infotech and Satyam. L&T has also lowered its cost of acquisition from around Rs170 to around Rs80 / share. L&T believes that the increased stake gives it the leverage to influence thinking at the board level.

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