Mumbai: Putting an end to a long wait, trading in the stock exchange can be done through cellphones and laptops now, a Securities and Exchange Board of India circular released Friday said.
“It has been decided that SEBI registered brokers who provide Internet Based Trading as shall be eligible to provide securities trading using wireless technology. All relevant requirements applicable to internet based trading shall also be applicable to securities trading using wireless technology”, the circular said.
The investor with a wireless device will be able to download the facility provided by his broker to the device and can buy or sell shares on the move.
The encryption and security of access will governed by the DoT regulations. The circular also calls for putting in place alternative means o communication if there is a failure in the network. A unique identification number like in internet based trading shall be made applicable.
India with its high level of cellphone penetration, could witness a revolution in trade volume. India’s cellphone subscriber base stands at 636 million as on June 2010.
Many large broking houses like Geojith BNP Financial Services, Motilal Oswal Financial Services already have the system in place. They are waiting for approvals from the stock exchanges, which are responsible for overseeing the broker’s adherence to SEBI guidelines.
Saturday, August 28, 2010
Inflationary pressures is easing, says RBI
Bangalore: Reserve Bank of India Governor D Subbarao Saturday said the country's economic growth is getting broad-based and inflationary pressures are easing."There is evidence that growth is getting more broad-based. Inflationary pressures too are easing because of improved supply position as also the impact of monetary tightening effected by the Reserve Bank," he said while delivering a lecture here.
"Going forward, the Reserve Bank will calibrate policy action to the evolving growth inflation dynamics," Subbarao said.
"Given the uncertainty in the world and the lags in monetary transmission, it is not possible to offer more precise guidance. All I can say is that our guide post is festina lente-as the Romans used to say-make haste slowly".
Subbarao, who was speaking on "Economic Crisis and Crisis in Economics : Some Reflections", said the Reserve Bank has to balance between the objectives of growth, price stability and financial stability.
"Determining this prioritisation is the judgement call of the Reserve Bank. People who apprehend that monetary tightening will hurt growth must remember that even if there is some sacrifice of output in the near-term, we are better off curbing inflation since inflation can be inimical to sustainable and equitable growth in the medium term", he added.
Bull of the week: Stock that turned multibagger in 3 days
Riding high on a strong debut on the bourses, Prakash Steelage (PSL) is still the favourite among investors. It was locked at 20% upper circuit today. Since the company made its debut on the bourses on August 24, 2010, the stock has gained nearly 100%.
Experts see weak market ahead
The benchmark Sensex closed below the important psychological level of 18,000 for the first time since July 30, 2010. The index shed more than 200 points in the second half of trade, dragged by shares of financial, technology, realty, auto, capital goods and power companies.
The 30-share BSE Sensex closed at 17,998.41, down 227.94 points or 1.25% and the 50-share NSE Nifty fell 69.20 points or 1.26% to settle at 5,408.70, after witnessing an intraday low of 5,391.95. For the week, indices lost 2.2% each.
-
Mitesh Thacker of miteshthacker.com, who had been watching 5,450-5,455 very closely, says, “Since the markets bottomed out in the last week of May and started a rally from 4,900, every correction on the Nifty has failed to close below 21-day exponential average."
"We have had three-four corrective movements where the Nifty has fallen about 100 points from the top, but every time it’s managed to close above that and then has made a new high. The Nifty has closed below that level. This is the first sign of proper weakness and a corrective kind of movement coming into the Nifty. Probably, the one important level, which we saw couple of weeks back was on the downside, 5,360- 5,350. So maybe we are heading towards that and if you break that may be even lower.”
Dipan Mehta, Member of the BSE and NSE also feels that the market is in a correction mode. “But this is more like a normal technical kind of correction. I don’t expect that is going to add up to anything significant. I think that maybe this month we could see the losses deepening as compared to what we have seen over the past two-three trading sessions.”
The 30-share BSE Sensex closed at 17,998.41, down 227.94 points or 1.25% and the 50-share NSE Nifty fell 69.20 points or 1.26% to settle at 5,408.70, after witnessing an intraday low of 5,391.95. For the week, indices lost 2.2% each.
-
Mitesh Thacker of miteshthacker.com, who had been watching 5,450-5,455 very closely, says, “Since the markets bottomed out in the last week of May and started a rally from 4,900, every correction on the Nifty has failed to close below 21-day exponential average."
"We have had three-four corrective movements where the Nifty has fallen about 100 points from the top, but every time it’s managed to close above that and then has made a new high. The Nifty has closed below that level. This is the first sign of proper weakness and a corrective kind of movement coming into the Nifty. Probably, the one important level, which we saw couple of weeks back was on the downside, 5,360- 5,350. So maybe we are heading towards that and if you break that may be even lower.”
Dipan Mehta, Member of the BSE and NSE also feels that the market is in a correction mode. “But this is more like a normal technical kind of correction. I don’t expect that is going to add up to anything significant. I think that maybe this month we could see the losses deepening as compared to what we have seen over the past two-three trading sessions.”
US growth revised lower: What will Fed do now?
The second quarter growth in the United States has been revised lower to 1.6% from an initial estimate of 2.4%. Meanwhile, in the United Kingdom, growth has been revised upwards to 1.7%—the fastest since 2001. A stronger Europe than the US was unthinkable just a few months ago when we began the year with the specter of sovereign debt crisis in Europe hanging over our heads.
Are the Bad days coming back ???
The bad days will be back again in the Global markets. Euro has temporarily bounced back but the changes of Euro zone going bankrupt has not been phased out. No change in the US jobless claims indicates that there has been no change in the US markets.
Chicago Federal Reserve Bank President Charles Evan said the risks of a double-dip US recession have risen in the last six months. While he added he did not think that was the most likely scenario, he said high unemployment and a fractured housing sector would make the recovery a fragile one. Asian stocks fell on Wednesday, with Japan's Nikkei at a 16-month low, as investors sold riskier assets after a spate of worrying US economic data, while the yen slipped from a 15-year high on a report Tokyo was considering weakening its currency. But even if Japan's government acted alone to try and halt yen strength, dealers were skeptical it could reverse the growing unwillingness among investors to take risks that has underlined the yen's 10 per cent rise against the dollar so far this year.
The US housing market is taking a turn for the worse.
Tuesday's report from the National Association of Realtors about sales of previously occupied homes is expected to show sales plunged in July. Economists are predicting as much as a 26 percent drop from a month earlier to a seasonally adjusted annual rate of 3.95 million. That would be the worst month for sales in more than a decade.
Many say the market is hurting because buyers and sellers are in a standoff over home prices. Sellers have unrealistic expectations about their home values and are listing properties on the high end.
The Japanese Nikkei was down 1.66%, on reports of its export growth slowing for a fifth month in July and the appreciating yen against the dollar. It had touched a new 15 year
high and that caused some panic amongst the investment community as a siring yen is detrimental to the export oriented Japanese economy.
Buyers are afraid home prices will start falling after being flat nationally for about a year and even rising in some parts of the country. The housing market is also being hampered by a weakening economic recovery. Unemployment remains stuck at 9.5 percent and many prospective buyers worry they might not have a job to pay the mortgage. Prices are low, but that's largely because foreclosures are running about 10 times higher than before the housing bust. And while mortgage rates are at the lowest levels in decades, many people can't qualify because banks are being selective in the tough economy.
Major Indices closed down nearly1.7% each. Midcap and Smallcap Indices also tanked this week, loosing nearly 2% each. Name whatever group, it crashed this week. Except the Oil refining companies surged ahead and out perform the Major Indices. Bpcl & Ongc were up by 12% & 5% each. Banks and the Infra stocks had their bad week on the street. Hdfc Bank tanked nearly 3.4% and Icici bank & Kotak bank corrected 3.2% & 2.5% each.
Some of the midcap stocks outperformed the markets. Indswift Lab surged 35% while Surya Pharma was up 30%. Natco Pharm stock was up 16%. India witness above average rainfall in this season, this might be the reason for which major small cap and Midcap fertilizers could see some good rally.
Markets remained very volatile for the week. Nifty made its new 52 week high but ended up with sharp correction and triggered its lower trendline also. Nifty at the close of the week made an intraweek high and low of 5549 & 5391. There is not such bad news in the Indian markets except the growing inflation and the corruption. Indians are used to corruption and for govt has promised to get control over the inflation within 3 months, irrespective of actual prices coming down, the inflation index will surely come down
In the last week RSI had take support at the trendline but triggered the downtrend and continued to fall. MACD also showed negative divergence. Nifty will find support at 5375 -5350 levels.
Chicago Federal Reserve Bank President Charles Evan said the risks of a double-dip US recession have risen in the last six months. While he added he did not think that was the most likely scenario, he said high unemployment and a fractured housing sector would make the recovery a fragile one. Asian stocks fell on Wednesday, with Japan's Nikkei at a 16-month low, as investors sold riskier assets after a spate of worrying US economic data, while the yen slipped from a 15-year high on a report Tokyo was considering weakening its currency. But even if Japan's government acted alone to try and halt yen strength, dealers were skeptical it could reverse the growing unwillingness among investors to take risks that has underlined the yen's 10 per cent rise against the dollar so far this year.
The US housing market is taking a turn for the worse.
Tuesday's report from the National Association of Realtors about sales of previously occupied homes is expected to show sales plunged in July. Economists are predicting as much as a 26 percent drop from a month earlier to a seasonally adjusted annual rate of 3.95 million. That would be the worst month for sales in more than a decade.
Many say the market is hurting because buyers and sellers are in a standoff over home prices. Sellers have unrealistic expectations about their home values and are listing properties on the high end.
The Japanese Nikkei was down 1.66%, on reports of its export growth slowing for a fifth month in July and the appreciating yen against the dollar. It had touched a new 15 year
high and that caused some panic amongst the investment community as a siring yen is detrimental to the export oriented Japanese economy.
Buyers are afraid home prices will start falling after being flat nationally for about a year and even rising in some parts of the country. The housing market is also being hampered by a weakening economic recovery. Unemployment remains stuck at 9.5 percent and many prospective buyers worry they might not have a job to pay the mortgage. Prices are low, but that's largely because foreclosures are running about 10 times higher than before the housing bust. And while mortgage rates are at the lowest levels in decades, many people can't qualify because banks are being selective in the tough economy.
Major Indices closed down nearly1.7% each. Midcap and Smallcap Indices also tanked this week, loosing nearly 2% each. Name whatever group, it crashed this week. Except the Oil refining companies surged ahead and out perform the Major Indices. Bpcl & Ongc were up by 12% & 5% each. Banks and the Infra stocks had their bad week on the street. Hdfc Bank tanked nearly 3.4% and Icici bank & Kotak bank corrected 3.2% & 2.5% each.
Some of the midcap stocks outperformed the markets. Indswift Lab surged 35% while Surya Pharma was up 30%. Natco Pharm stock was up 16%. India witness above average rainfall in this season, this might be the reason for which major small cap and Midcap fertilizers could see some good rally.
Markets remained very volatile for the week. Nifty made its new 52 week high but ended up with sharp correction and triggered its lower trendline also. Nifty at the close of the week made an intraweek high and low of 5549 & 5391. There is not such bad news in the Indian markets except the growing inflation and the corruption. Indians are used to corruption and for govt has promised to get control over the inflation within 3 months, irrespective of actual prices coming down, the inflation index will surely come down
In the last week RSI had take support at the trendline but triggered the downtrend and continued to fall. MACD also showed negative divergence. Nifty will find support at 5375 -5350 levels.
Wednesday, August 25, 2010
Adani to invest in $1.6 bn Indonesian railway project
Jakarta: Adani group plans to invest in a USD 1.6 billion coal railway project in Indonesia's South Sumatra province, a government official said on Wednesday, providing funding for much-needed infrastructure.
While Indonesia has abundant natural resources, including coal, oil and gas, lack of investment in exploration and infrastructure has limited extraction and development.
The island of Sumatra, which includes South Sumatra province, has 11.5 billion tonnes of mineable coal reserves -- or 57 percent of the country's total mineable reserves of 20 billion tonnes, according to data from the energy and mines ministry.
But the province only produced 11.5 million tonnes of coal in 2009, because of poor transportation.
The new 270-kilometres (168 miles) railway will be an addition to another railway project which is being developed by state-owned miner PT Perusahaan Batubara Bukit Asam.
Alex Noordin, governor of South Sumatra, said the railway project will require total investment of USD 1.6 billion including a coal terminal.
"The coal terminal will have the capacity to handle 50 million tonnes of coal. Bukit Asam will supply around 34 million tonnes," Noordin said.
Diversified Adani Enterprises controls Indian power utility Adani Power.
Indonesia's Kalimantan, on Borneo Island, accounts for most of the remaining coal produced by Indonesia, the world's top thermal coal exporter, and is also seeking investments in coal railway projects.
Subscribe to:
Posts (Atom)