IIPM - Live: May 2011

Friday, May 27, 2011

Nifty's Lowest Rollover at 59.7% in the Present Calender Year

Nifty derivative May contracts experienced the lowest rollover in 2011 at 59.7%. In 2011 the average rollover so far had been 66.2%. The May rollover was accompanied by a lower spread between the May and June futures which indicated that short positions were more aggressively rolled-over than that of longs.

The spread (difference between Nifty in the cash market and Nifty June futures) has been coming down extensively since the past one week and experts attribute it to be a result of bearish sentiment among traders. The spread between the May and June series or the discount with which June series closed over the Nifty stood at 21.7 on Thursday .

Savio Shetty, research analyst- Institutional Derivatives at Prabhudas Lilladher says, “Even after discounting for the dividend premium of around 24.5, the net spread turns out to be a premium of just over 3 points.

Such low premium along with a lower-than-average market-wide rollover indicates a higher rollover of shorts”.

While the lower rollovers in Nifty are in line with sluggish market sentiment, the open interest on the put side indicates that traders are looking at 5,300 as the near-term strong support.
June 5,300 puts gained 11.6 lakh shares, highest for any strike on the put side to obtain a total open interest of 49.4 lakh shares.

However, the marginal difference between the open interest of June 5,000 and 5,300 puts indicate that traders are considering 5,000 to be the next crucial support for the Nifty in case 5,300 gives away. Currently, June 5,000 puts have the highest open interest of about 51 lakh shares on the put side.

Sector-wise, real estate companies, namely, DLF and Indiabulls Realestate saw a high rollover of 84% with higher discounts indicating transfer of short positions.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Thursday, May 26, 2011

DGCA probes air ambulance crash

The Directorate General of Civil Aviation on Thursday started an inquiry into the crash of a small medical ambulance aircraft in a residential area here that left 10 persons including seven on board dead.

The DGCA has appointed an inspector of inquiry, who will take charge of all material evidence at the site of the crash including the wreckage of the plane in sector 22 here.

A six-member DGCA team is inspecting the site of the crash.

The inspector of inquiry will hand over the material evidence to the Court of Inquiry when it will be set up.

A senior DGCA official had said last night that the plane was in contact with the Air Traffic Control and on the radar before suddenly vanishing and losing touch.

Three persons on the ground -- all women -- were among the 10 dead when the P-12 single-engine turboprop aircraft belonging to Delhi-based Air Chartered Services India Limited crashed in Jawaharnagar locality near the IAF station in the Delhi suburb at around 1035 PM shortly before landing at IGI airport in Delhi.

Officials assessing property loss

Haryana Government officials assessed the loss suffered to property due to the crash of an air ambulance aircraft in a residential area here that left 10 persons dead.

Officials from the revenue department inspected the two houses which suffered damages when the aircraft crashed into their roofs.

A senior official said mainly two houses -- one belonging to Sobhraj Shehwrat and Sunil suffered damages in the crash.

“There are damages to two houses. We are assessing the loss. We will prepare a report regarding the damages and recommend to the government the compensation to be given,” the officials said.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

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domain-b.com : IIPM ranked ahead of IIMs
IIPM: Management Education India
Prof. Rajita Chaudhuri's Website

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Wednesday, May 25, 2011

Attempt was made to attack Mumbai two months before 26/11': Headly

David Coleman Headley has now told a Chicago court that an earlier attempt to attack Mumbai in September 2008, two months before 26/11, had failed as "the boat carrying Pakistani assailants hit the rocks.

" Headley, a Pakistani-American, is the key witness in the trial of Tahawwur Hussain Rana, a Chicago businessman accused of helping coordinate the 2008 Mumbai attacks. He has already pleaded guilty to laying the groundwork for the Mumbai attacks and has agreed to testify against Rana to avoid the death penalty. Earlier during the trial, Headley identified his ISI handler, the shadowy Major Iqbal, as Chaudhery Khan, the man with whom the Pakistani-American had several email exchanges. Headley wrote to him at the email id chaudherykhan@gmail.com.

On being interrogated about those mail exchanges, Headley told the court that Chaudhery Khan was Major Iqbal, the man Headley had identified yesterday as one of his ISI handlers. Major Iqbal is named as a co-defendant in the indictment.

Headley has already pleaded guilty to laying the groundwork for the Mumbai attacks, and has agreed to testify against Rana to avoid the death penalty.