Stock Market News & Stocks to Watch from StraightStocks » Bombay http://www.straightstocks.com Leading Stock Market News, Opinions and Commentary Thu, 26 Nov 2009 16:49:22 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 IDC Expands Services – Analyst Blog http://www.straightstocks.com/stock-watch/idc-expands-services-analyst-blog/ http://www.straightstocks.com/stock-watch/idc-expands-services-analyst-blog/#comments Wed, 11 Nov 2009 15:00:00 +0000 Zacks Market Commentaries http://www.zacks.com/stock/news/27144/IDC+Expands+Services+-+Analyst+Blog Interactive Data Corporation (IDC) continues to expand its solutions and services. The leading provider of financial market data recently declared that its Real-Time Services business has added new market data coverage to PlusFeed, its low-latency, consolidated global datafeed. The company has also added different emerging market exchanges to PlusFeed services. 

Interactive Data has added exchanges like National Commodity & Derivatives Exchange ( India ) in its Level 1 data services and Micex ( Russia ) Level 2 data services, as well as depth-of-market data for Johannesburg ( South Africa ) and Bombay ( India ) Stock Exchanges. Coverage of the Tokyo Financial Exchange ( Japan ) has also been added. 

This apart, a few weeks back the company announced that its Pricing and Reference Data service business has enhanced the horizon of the interest rate swap valuation service. This service is of special help to clients, since it provides information to efficiently value portfolios in the over-the-counter (OTC) derivatives segment. 

The company is also offering currency swaps in Australian dollars, British pounds, Czech koruna, Danish krone, Euros, Hungarian forint, Japanese yen, Norwegian krone, Polish zloty, Swedish krona, Swiss Francs, South African rand, U.S. dollars, Canadian Dollar and New Zealand Dollar. 

The Bank for International Settlements (BIS) mentioned at the end of March 2009 that the notional amount of interest rate and currency swaps outstanding was $342.8 trillion at the end of 2008 and the company claims that it covers a substantial portion of that interest rate swap outstanding. 

The new services will help the company in the current economic environment, as it expands its geographic footprint, increase customer satisfaction and improve prospects within existing markets. This should, in turn, translate into a healthier topline. IDC provided decent third quarter results with revenue moving up around 2% from the previous year and EPS exceeding our estimate. 

As the company’s business is directly related to the financial services industry, a gradual revival in the sector will expand business opportunities for the company.
Read the full analyst report on "IDC"
Zacks Investment Research
]]> http://www.straightstocks.com/stock-watch/idc-expands-services-analyst-blog/feed/ 0 India: Buy or Sell? http://www.straightstocks.com/investing-in-india-stocks/india-buy-or-sell/ http://www.straightstocks.com/investing-in-india-stocks/india-buy-or-sell/#comments Mon, 09 Feb 2009 15:20:29 +0000 Chris Mayer http://www.contrarianprofits.com/?p=13059 http://www.straightstocks.com/investing-in-india-stocks/india-buy-or-sell/feed/ 0 Investing in India in 2009 http://www.straightstocks.com/market-commentary/investing-in-india-in-2009/ http://www.straightstocks.com/market-commentary/investing-in-india-in-2009/#comments Fri, 23 Jan 2009 14:30:01 +0000 Contrarian Profits http://www.contrarianprofits.com/?p=12145 http://www.straightstocks.com/market-commentary/investing-in-india-in-2009/feed/ 0 Tender Offer for Taro Pharma Tarries Along http://www.straightstocks.com/investing-in-israel/tender-offer-for-taro-pharma-tarries-along/ http://www.straightstocks.com/investing-in-israel/tender-offer-for-taro-pharma-tarries-along/#comments Wed, 10 Dec 2008 08:07:00 +0000 ETF Innovators tag:blogger.com,1999:blog-4502933149207431179.post-324533609902196860 http://www.straightstocks.com/investing-in-israel/tender-offer-for-taro-pharma-tarries-along/feed/ 0 Why The World Depends On Your Christmas Shopping http://www.straightstocks.com/market-commentary/why-the-world-depends-on-your-christmas-shopping/ http://www.straightstocks.com/market-commentary/why-the-world-depends-on-your-christmas-shopping/#comments Thu, 27 Nov 2008 15:39:40 +0000 Contrarian Profits http://www.contrarianprofits.com/?p=9227 http://www.straightstocks.com/market-commentary/why-the-world-depends-on-your-christmas-shopping/feed/ 0 In a Surprise Move, India Lowers Key Interest Rate for the First Time in Four Years http://www.straightstocks.com/investing-in-india-stocks/in-a-surprise-move-india-lowers-key-interest-rate-for-the-first-time-in-four-years/ http://www.straightstocks.com/investing-in-india-stocks/in-a-surprise-move-india-lowers-key-interest-rate-for-the-first-time-in-four-years/#comments Tue, 21 Oct 2008 14:07:16 +0000 William Patalon lll http://www.moneymorning.com/?p=2801 http://www.straightstocks.com/investing-in-india-stocks/in-a-surprise-move-india-lowers-key-interest-rate-for-the-first-time-in-four-years/feed/ 0 How far can this selling go… http://www.straightstocks.com/stock-watch/how-far-can-this-selling-go/ http://www.straightstocks.com/stock-watch/how-far-can-this-selling-go/#comments Mon, 15 Sep 2008 08:29:00 +0000 Declan Fallon tag:blogger.com,1999:blog-3415040392614486358.post-5610806615852931856 morning; US Futures are taking a walloping. Looking at it from an Irish perspective (given its heavy financial weighting) it makes grim viewing even before today's news struck.


So I took a look at some market relationships. The relationships described below were calculated last week so there will be a few more percentage points to add. I used the S&P as one can get data all the way back to the 1950s.

At its worst for this year the S&P traded 15.2% away from its 200-day MA (July 15th). However, historically this ranks only 371st out of 14,310 trading days for the index. So what periods were worse?

In 1974 there were 101 trading days when the 200-day MA was greater than 15.2% away from its 200-day MA:


Seasonally, there is plenty of similarity to 2008; the reaction low in July undercutting prior Spring support. Then a capitulation through to the end of September before the eventual bottom was marked. From there it was up, up and away for the next 25 years.


2002 was another instance with a summer low, although the extent of its violation by October was not as great (maybe this scenario will play out?)



The worst loss for the S&P relative to the 200-day MA was 40% on October 3rd 1974. To put this in 2008 terms it would mean an S&P around 810; a good 400 points away from Friday's close.

1974 and 2002 weren't the only cases where the S&P traded 15.2% past its 200-day MA as the table below shows (with the number of trading days included for reference):


This takes us back to the ISEQ. If in 14,310 trading days for the S&P the biggest loss was 40% from the 200-day MA then the 54% drop on August 4th for the ISEQ should at least carry some long term significance.

Monday's discount can only play into the hands of the brave.

Around the globe these were some of the discounts to the 200-day MA available as of Sep 9th:

ISEQ: 30%
FTSE 100: 8%
Hang Sen: 17%
CAC40: 12%
DAX: 10%
Amsterdam: 14%
Brazil: 25%
Bombay: 13%

One could go on....

Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts, and stock charts website ]]> http://www.straightstocks.com/stock-watch/how-far-can-this-selling-go/feed/ 0 How far can this selling go… http://www.straightstocks.com/stock-watch/how-far-can-this-selling-go/ http://www.straightstocks.com/stock-watch/how-far-can-this-selling-go/#comments Mon, 15 Sep 2008 08:29:00 +0000 Declan Fallon tag:blogger.com,1999:blog-3415040392614486358.post-5610806615852931856 morning; US Futures are taking a walloping. Looking at it from an Irish perspective (given its heavy financial weighting) it makes grim viewing even before today's news struck.


So I took a look at some market relationships. The relationships described below were calculated last week so there will be a few more percentage points to add. I used the S&P as one can get data all the way back to the 1950s.

At its worst for this year the S&P traded 15.2% away from its 200-day MA (July 15th). However, historically this ranks only 371st out of 14,310 trading days for the index. So what periods were worse?

In 1974 there were 101 trading days when the 200-day MA was greater than 15.2% away from its 200-day MA:


Seasonally, there is plenty of similarity to 2008; the reaction low in July undercutting prior Spring support. Then a capitulation through to the end of September before the eventual bottom was marked. From there it was up, up and away for the next 25 years.


2002 was another instance with a summer low, although the extent of its violation by October was not as great (maybe this scenario will play out?)



The worst loss for the S&P relative to the 200-day MA was 40% on October 3rd 1974. To put this in 2008 terms it would mean an S&P around 810; a good 400 points away from Friday's close.

1974 and 2002 weren't the only cases where the S&P traded 15.2% past its 200-day MA as the table below shows (with the number of trading days included for reference):


This takes us back to the ISEQ. If in 14,310 trading days for the S&P the biggest loss was 40% from the 200-day MA then the 54% drop on August 4th for the ISEQ should at least carry some long term significance.

Monday's discount can only play into the hands of the brave.

Around the globe these were some of the discounts to the 200-day MA available as of Sep 9th:

ISEQ: 30%
FTSE 100: 8%
Hang Sen: 17%
CAC40: 12%
DAX: 10%
Amsterdam: 14%
Brazil: 25%
Bombay: 13%

One could go on....

Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts, and stock charts website ]]> http://www.straightstocks.com/stock-watch/how-far-can-this-selling-go/feed/ 0 Hedge Funds in India http://www.straightstocks.com/investing-in-hedge-funds/hedge-funds-in-india-2/ http://www.straightstocks.com/investing-in-hedge-funds/hedge-funds-in-india-2/#comments Sun, 31 Aug 2008 17:15:21 +0000 Richard C. Wilson tag:blogger.com,1999:blog-125009547106294711.post-5929465841690856592 Hedge Funds in India

The Benefits of Offering Hedge Funds in India

Hedge Funds in IndiaHere's a short article on how the Committee of Financial Sector Reforms in India might introduce hedge funds and why this would be a positive move for the Indian markets and fund industry as a whole.
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The Draft Report of the Committee on Financial Sector Reforms headed by Professor Raghuram Rajan was issued for comment in April 2008. Among the proposals that the high-level committee made was the introduction of domestic hedge funds. The committee feels that, “The presence of hedge funds would induce greater competitive pressure for other regulated fund management channels such as mutual funds.”

This week’s article discusses the benefits of introducing hedge funds in the Indian market. It shows how hedge funds could improve asset price efficiency. Besides, such funds, by virtue of their diverse investment styles, could provide investors an opportunity to enhance their risk-adjusted portfolio returns.

Of different genre

Suppose a long-only (mutual fund) manager and a hedge fund manager both have a negative view on SBI, a positive view on HDFC Bank and a neutral view on ITC.

Long-only active managers will buy ITC in the same weight as their benchmark index, may overweight HDFC Bank and may not take any exposure in SBI. There is a reason for such a strategy. Active managers strive to beat their benchmark index. But they do not take too many active bets, lest their bets go wrong. Often, active funds tail the benchmark index with few active bets. Importantly, such managers cannot short-sell to take advantage of their negative view on a stock.

Hedge fund managers’ do not suffer from such constraint. In the above example, the hedge fund manager may overweight HDFC Bank, short-sell SBI and not take any exposure in ITC.

Better still, to neutralise any market risk, the hedge fund manager may buy HDFC Bank and short-sell SBI in such a way that the market risk in HDFC Bank is offset by short-selling SBI. Often, neutralising market risk on a portfolio would mean short-selling Nifty futures.

Exploiting price inefficiency

Hedge funds identify mispriced assets and exploit any price inefficiency. One way to do this is to employ statistical arbitrage.

Suppose a hedge fund manager finds that combination of one share of HDFC Bank and two short shares of SBI (1HDFC – 2SBI) has a stable statistical distribution. If the “spread” wanders far away from its mean, a hedge fund manager would set-up this strategy with a view that the “spread” will tighten. Such relative-value strategies can help arbitrate away asset price inefficiencies in a “normal” market. Read more...

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