SEBI yesterday barred six market intermediaries from trading in securities for allegedly carrying out manipulations in various IPO issues and also slapped a penalty of Rs 36.09 crore.

"Roopalben N Panchal, Devangi Panchal, Dipak Jashvantlal Panchal, Hina Bhargav Panchal, Bhargav Ranchhodlal Panchal and Arjav Nareshbhai Panchal shall not buy, sell or deal in the securities...for three months," the Securities and Exchange Board of India (SEBI) said in its final order.

In case the amount are not received by SEBI within 45 days, these persons would be restrained from buying, selling or dealing in securities market for a further period of nine years.

Why Markets Down Today?

The domestic markets posted losses this week on account of turmoil in Middle East and North Africa, which disturbed the indices across the globe. Violence in Libya led to a sharp surge in crude oil prices to a 30-month high level, which spooked the investor sentiments. Worries over rising crude oil prices that it would impact the economic growth led to a massive sell-off across the globe. India imports its 80% crude need and rising crude oil prices will affect its import bill and widen foreign deficit. Growing fears that unrest in Libya could spread to other top oil producers in the region and cut more output led to panic among the investors.During the week, the Sensex and the Nifty breached their crucial levels of 18000 and 5400 respectively. The Sensex swung 988 points and the Nifty 294 points during the week. To close the week, the Sensex shut at 17701, lower by 511 points or 2.80%, while the Nifty settled at 5304, down by 155 points or 2.85%. The indices fell in three out of five sessions of this week.

News On Stocks:Woolmer

Woolite Mercantile Company announced that it has acquired 100,000 equity shares of Rs10 each of Prism Medical & Pharmacy (P), with a total investment of Rs10 lakh.Consequent upon, said acquisition the Prism Medical & Pharmacy (P), will become the subsidiary of the company with an equity stake of 90.91%.The company said Prism Medical & Pharmacy (P) is engaged in the business of retail pharmacy business

Markets may bounce back

The Indian markets were butchered in the previous session, drifting to multi-month low levels with highest ever volumes recorded in the history. Till now in this week, the Sensex and the Nifty slipped by 580 points (3.18%) and 196 points (3.59%) respectively.Going into today's trade, the domestic markets may bounce back at the start tracking positive Asian markets. Some relief after cooling of oil prices may lift the market sentiments.It will be an action-packed session as the Railway Budget and the Economic Survey will be presented to the Lower House today; this will keep the rail stocks in focus. Investors may remain on the sidelines ahead of the Rail Budget

Punj Lloyd

The shares of Punj Lloyd lost by 6%, hitting the 52-week low of Rs60.10, on continued concerns of political instability in Libya. Till now, over 34.12 lakh shares have traded on the BSE as against the two-week average volume of 27.70 lakh shares.According to reports, Punj Lloyd has large operations in Libya with around 1,800 employees. Punj Lloyd has 35% of its order backlog in the Republic of Libya, which is currently facing significant political upheaval, reports suggest. But, Punj Lloyd's Chairman, Atul Punj was quoted by the media as saying that the company's projects are in regions where there are few issues. The main problem is in Benghazi where Punj Lloyd does not have any project.

Why Indian Markets falls?

Libya unrest continued to haunt the markets leading to a spike in crude oil prices to $102 per barrel, up more than 7.5% to its highest since August 2008. Crude oil is far more important to the economy and a surge in its prices will impact the country's growth leading to a rise in inflation. Jittery investors continued with its selling spree on the day of February F&O derivatives contracts expiry, making the situation more worse in trade today. Persisting geopolitical tensions, further rise in crude prices and rollover pressures led the Sensex to fall below the 18000 mark and the Nifty below the 5300 mark. Markets recorded an all-time high turnover today.The Sensex crashed 546 points to close at 17632 and the Nifty tumbled 175 points to settle at 5263.

Balrampur Chini Mills yesterday said its board has approved buying back of equity shares at a price not exceeding Rs 85 apiece."The buyback would be at a price not exceeding Rs 85 per share payable in cash, for an amount up to Rs 110 crore out of free reserves by way of purchase from open market through the stock exchanges," the company said in a filing to the Bombay Stock Exchange.Shares of the company today closed at Rs 74, down by one per cent at the Bombay Stock Exchange.The country''s second largest sugar company had reported a dip of 69 per cent in its net profit to Rs 23.37 crore for the quarter ended December 31, 2010

Castrol India FY10 net profit up 29% yoy

The net profit of the company rose by 31.06% to Rs105.90 crore for the quarter ended December 31, 2010 as compared to Rs80.80 crore for the quarter ended December 31, 2009.Total income increased by 14.83% to Rs706.80 crore for the quarter ended December 31, 2010 from Rs615.50 crore for the quarter ended December 31, 2009

Stocks To Watch Today

Chambal Fertilizers & Chemicals Ltd,
Cmp:73.50,
Action:Buy,
Target:79.
Jaiprakash Associates Ltd,
Cmp:85.65,
Action:Buy,
Target:95.
Greaves Cotton Ltd,
Cmp:89.00,
Action:Buy,Hold,
Target:100.
Shree Ashtavinayak Cine Visions Ltd,
Cmp:6.90,
Action:Buy,
Target:25.

What experts says about banking sector?

 J V Capital Services,

You have got to look at banking again. There are a lot of headwinds. There are a lot of worries on inflation, higher interest rates, effect on their margins but the sector as a whole, valuation wise, is pretty reasonable. Some of the private sector banks are obviously trading at a higher premium to the PSU banks but with all these scams, it is very unlikely you are going to get some significant kind, hopefully you are not going to get any further significant scam in the banking space. That way, it is relatively insulated from that viewpoint.So this is one sector, which might be rocky over the next 3-6 months but on any significant correction, you go and you buy. You have seen the State Bank at 2500-2600 levels, it has given you a 10% upside pretty fast. So you can obviously take some profits out. So that’s one sector on which we remained quite bullish on and we feel over the next one year, there will be decent returns.

What experts says?

 ASHWANI GUJRAL,chief Market Strategist,Ashwani Gujral.Com,

Auto stocks best bought before budget,Till the budget, the sector will remain under pressure. But what we have seen in previous budgets is that if the worst does not happen, these stocks tend to have pretty sharp rallies. So the downside will get captured before the budget and probably at those levels, longer term investors can get in. From there they might be able to get at least a trading rally if nothing else. So these stocks are best bought before the budget, one day before or say the same day before its announced.

Why Markets Down Today?

Turmoil in Middle East and North Africa rattled the indices across the globe and also led to spike in commodities. Owing to such tensions, the Indian markets remained under pressure and closed the volatile session on a weak note. Investor sentiments were impacted looking at the global fall, leading to heavy selling with the Nifty closing below the 5500 mark. Crude oil prices rising 9% to above $94 a barrel on the New York Mercantile Exchange was also a major concern. However, index heavyweight Reliance Industries, which surged after signing a $7.2 billion deal with BP, provided much needed to the markets.The Sensex closed at 18296, down by 142 points and the Nifty stood at 5469, lower by 49 points.