Posts Tagged ‘SMC Global Securities’

Sensex Tumbles 216 Points on Weak Global Cues

Stocks dropped on Wednesday, triggered mainly by weak sentiments in Asian markets  on concern over rising dollar, ahead of the expiry of October series of futures and option contracts.

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European markets saw a gap-down opening, but recovered later, helping the market to gain some ground in the last half-an-hour of trade. The BSE Sensex trimmed 216.02 points, or 1.07 per cent, to close at 20,005.37. Nifty index declined 69.35 points, or 1.14 per cent, to 6,012.65.

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“Strengthening of the dollar against a basket of major world currencies dragged the market on Wednesday. The Dollar Index, which has an inverse relationship with different assets classes, is rebounding these days. Due to which, investors have turned cautious on equities markets,” said Jagannadham Thunuguntla, head of research at SMC Global Securities.

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The Dollar Index on Wednesday rose to 77.92 against 76.64 on October 14. Before this, the index was falling continuously from the middle of July.

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There was also speculation that US Federal Reserve’s asset purchase plan may be a disappointing one, said Alex Mathews of Geojit BNP Paribas.

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“Nifty has a major support at 5,963 while on the upside, it faces resistance at 6,089 level. On Thursday, we are going to see the October F&O expiry. The rollovers at the end of Wednesday’s session was around 45 per cent,” he said.

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Banking stocks continued to weigh heavy while disappointing results of heavyweight NTPC hurt sentiments on the power counter.

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Union Bank, ICICI Bank and HDFC Bank fell 5.85 per cent, 2.23 per cent and 1.93 per cent, respectively. SBI inched up 0.41 per cent to Rs 3,193.45. Union Bank on Wednesday posted 40 per cent decline in September quarter PAT to Rs 303 crore compared with the same period a year ago.

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NTPC fell 3.24 per cent after the company reported 2.07 per cent drop in PAT on 20.46 per cent year-on-year rise in net sales for the September quarter. The results were announced after Tuesday’s trading hours.

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Among other stocks in news, MRPL rose 1.76 to Rs 83.95 after its Q2 net profit jumped 56.70 per cent to Rs 281.57 crore. ONGC and HPCL, the two stakeholders of the company, dipped 1.80 per cent and 1.42 per cent.

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Shriram Transport Finance hit an all-time high and rose 3.94 per cent to Rs 89.45 after its net profit surged 44.11 per cent year-on-year to Rs 298.96 crore.

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SMC Global Securities Selects SunGard Kiodex Risk Workbench

SMC Global Securities, one of India’s largest brokering firms, has selected SunGard’s Kiodex Risk Workbench, a fully integrated Web-based risk management solution, to help its clients in hedging their price risk in foreign exchange, commodities and interest rates.

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SMC Global Securities also selected Kiodex Global Market Data for its independent market data needs.

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Kiodex will help SMC Global Securities establish a corporate hedging desk by assisting with deal capture, reporting and risk analysis of its client portfolios. SMC chose SunGard’s Kiodex Risk Workbench because of its robust risk management tools and its software-as-a-service (SaaS) delivery model, helping companies quickly bring new business to market.

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Mr. D K Aggarwal, chairman and managing director of SMC Comtrade Ltd, said, “With the globalization of the Indian economy, corporations in India need to have proper risk management systems in place. Through this relationship with SunGard, SMC would be in a position to help its clients to effectively manage price risk volatilities in the foreign exchange and commodities space.”

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Mr. Ajay Garg, director, SMC Global Securities, said, “SunGard’s Kiodex Risk Workbench and Kiodex Global Market Data will help us streamline deal entry, capture the dynamics of the commodity markets, and give us the ability to view risk from multiple perspectives so we can focus on assisting our clients with their risk management needs.”

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Kirk Howell, chief operating officer, SunGard’s Kiodex business unit, said, “India is a rapidly growing commodities market. SMC’s selection of Kiodex extends our existing presence in India to the brokerage community.”

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CHANGE IS FOR BETTER

With great pleasure we announce that we have changed our online trading portal to http://www.smctradeonline.com for better. Experience a new level of online trading with more information, better aesthetics, advanced technology, world class financial tools & user friendly console on our new broking site.

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Come june 22nd and http://www.smcindiaonline.com , our corporate site will also come in its new avatar providing detailed information about SMC Group & its wide array of financial services.

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For any query, email us at brand@smcindiaonline.com

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Welcome to the SMC Global Family :)

SMC Global Securities

SMC Global Securities

If you find yourself asking the question –

Why should I Save ?
Why should I Invest ?
Where do I Invest ?
Who would Guide me to take informed decision on my Investments ?

…then look no further !

SMC Global Securities, a leading Financial services provider in India, a vertically integrated investment solutions company, with a pan-india presence is there to guide you and provide complete investment solutions to you.

Currently, SMC has a highly efficient workforce of over 4,000 employees & one of the largest retail network in India currently serving the financial needs of more than 5,50,000 satisfied investors.

Memberships and Registrations

• Member of NSE, BSE, F&O, NCDEX, MCX & DGCX

• Clearing Member in NSE F&O, BSE F&O and DGCX

• Depository Participant for both shares & Commodities

• Category 1 SEBI approved Merchant Banker

• Insurance Broker (Life & Non-Life)

• Distributors of IPOs, Mutual Funds

WEB :

http://www.smcindiaonline.com

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