| January may belong to large-cap stocks
MUMBAI: Nifty, in last week of December expiry gave good recovery and wiped off 5% downward correction of third week. In December, we have seen a consolidation phase where Nifty tested thrice 5,700 levels on downside and 6,100 levels on the upside.
If we recap, November expiry saw exiting of shorts and December we saw fresh long build up in scrips, especially in the midcap sector. Midcap stocks rally generally follow largecap rally. If we study ratio of CNX midcap index vs Nifty index then one could see that ratio has bottomed around 1.25, five times in recent past. Currently, it is trading around 5-year high of 1.50 after breaching previous high of 1.40. From this angle we might see downward correction in ratio which may be due to fall in prices of midcap stocks or may be due to rise in Nifty.
Minority Report: 12 months that changed Apple
There were others sour notes to the year, notably the ongoing investigation into Steve Jobs over stock options. Despite being exonerated of any wrong-doing by the Apple board, the investigation continues, terrifying investors and fans alike. Some early iPhone owners were outraged when Apple dropped the price of the device by $200 after just a couple of months. Meanwhile, users who hacked their iPhones to run them on networks other than AT&T found they were bricked and inactive after a firmware update. Apple left no doubt over their determination to ensure the device remained linked to its chosen telecoms partners. Naturally, there are lawsuits from irate users pending. There were two other key events that didn't make as many headlines as the product launches. The first was the announcement, starting with the iPhone, a version of OS X would be at the centre of all its devices.
R-word rattles equity investors
The US stock market has for months downplayed the bearish signals sent by the government bond and corporate debt markets. Now it has started to speak the same language. The S&P 500 index is down 4 per cent this year at 1,409.13 points, its poorest start since its inception in 1926, according to Standard & Poor's. The index is firmly in “correction" territory, having fallen 10 per cent from its high of 1,565.15 last October. .
Liam O'Gallagher, R.I.P.
In his published works, The Blue Planet Notebooks, Planet Noise, and Fool Consciousness, he dealt with themes related to the evolution and future of human consciousness. He painted in the Abstract Expressionist style, and at the time of his death was working on a series of paintings that he described as expressing, "the surreal aspects of space science." The critic Richard Kostelanetz called him "one of the finest visual poets in America." Born William Gallagher in Oakland, California, on October 2, 1917, he adopted the more traditional rendering of his name after visiting relatives in Ireland in 1950. He moved to the Monterey Peninsula in 1945, at a time when the area was known for its resident artists and bohemians. In 1946, he left for Greenwich Village in New York to study painting with the renowned abstract expressionist master Hans Hoffman.
New Exchange Traded Fund Tracks Domini 400 Social Index
Barclays Global Investors launches the iShares KLD 400 Social Index ETF. SocialFunds.com -- Last week, Barclays Global Investors (BGI) launched the iShares KLD 400 Social Index Fund (ticker: DSI), the first exchange traded fund (ETF) to track the Domini 400 Social Index. The index has long been considered the premier socially responsible investing (SRI) benchmark. However, for over a decade-and-a-half an exclusive licensing agreement allowed Domini Social Investments to be the only SRI firm to offer mutual funds that tracked the index. The recent vote by Domini Social Equity Fund (ticker: DSEFX) shareowners to shift from passive to active management has opened to door for others to manage funds based on the Domini 400 Social Index.
In related news, Green Century Equity Fund (GCEQX) shareowners voted to keep tracking the Domini 400 Social Index, making it now the only mutual fund to do so.
Barclays Launches Eight Commodity Sub-Sector iPath(R) Exchange Traded ...
NEW YORK, Oct. 24 /PRNewswire/ -- Barclays Bank PLC announced today the launch of eight new iPath(R) Exchange Traded Notes (ETNs) on the NYSE Arca stock exchange. The iPath ETNs are the first Exchange Traded Notes designed to offer exposure to sub-indexes of the Dow Jones-AIG Commodity Index(SM). They are linked to agriculture, copper, energy, grains, industrial metals, livestock, natural gas, and nickel. "The new iPath sub-sector ETNs provide investors with access to harder-to- reach markets," said Philippe El-Asmar, Head of Investor Solutions, Americas at Barclays Capital. "Investments in iPath Exchange Traded Notes surpassed $3.6 billion in just under 16 months from inception, and we believe these new ETNs will continue to attract attention particularly with daily creations and redemptions available since October 1, 2007." "The new iPath ETNs demonstrate Barclays continued commitment to providing investors with innovative investment solutions to the commodity markets," added Benoit de Vitry, Head of Commodities, Emerging Markets Rates and Quantitative Analytics at Barclays Capital.
Mining Weekly Editor Martin Creamer in conversation with Madupi ...
That combination of numbers is the magical solution to our problems and, why do I know that? Because we went through a winter with a forecast of 38 000 MW, in other words, we could generate 38 000 MW and still not have load shedding. What are we doing now? We are down to 29 000 MW. What is the problem? We are not sticking to that world benchmark of having 90% of power-generation capacity up, 7% on scheduled maintenance and not more than 3% on unscheduled maintenance. Now, how can we fall so badly behind on a world benchmark that Eskom itself set for itself? We have to get back to that benchmark and we will be out of the woods. Makhamele: Kim, that's a very strongly worded response from Martin, do you share his sentiments? Cloete: Well yes, I think you know generally South Africans are really concerned about that, just from the ordinary person, and anyone you speak to on the streets through to politicians, I mean we've seen the whole repercussions in Parliament as well, they called a special debate this week on the electricity crisis and I think it's absolutely 100% obvious that everybody was really worried about this crisis.
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