23 Dec 2009

23 Dec 2009

Asian Updates :

SGX Nifty: +2 points
Hangseng: -3.12 points



Nifty will open flat on mixed Asians. Nifty will resist around 4992-5000 levels. Furthermore resistance is at 5040-5050. Whether support is showing at 4950-40 for the day.



In positive bias, Buy STCIndia,3IInfotech,NTPC,Yesbank alongwith weekly calls.

The markets were a bit quiet yesterday. The volumes were on the lower side as has been the trend over last couple of days. But if you look at yesterday’s trade, it largely looks like the high beta was back in action – the real estate stocks, the banking stocks and some of the metal stocks were back in limelight. CNBC-TV18's Nimesh Shah reports.

There is a question mark on whether the risk is returning and maybe that’s something to watch out for – whether there will be weak flows coming from the larger institutions. At least the morning flows are not suggestive that there is big appetite coming in from the larger institutions on another sideway movement is more or less expected. But for the last many days we are seeing the breadth slightly on the positive side with the midcap and the smallcap outperforming. So that may continue couple.

A couple of divestment related stocks is what I understand is going to be back in focus, so what out for those particular stocks and some of the defensive pharmaceutical names.

Great Offshore open offer: CNBC-TV18 Exclusive from sources

Bharati receives 1.02 crore shares in open offer

Bharati receives 27.56% equity in open offer

CNBC-TV18 Alert: Bharati holds 23.17% stake in Great Offshore, will accept 20% from open offer

Bharati’s stake will go up to 43%



Sun Pharma says:

Glass Lewis advises Taro shareholders to hold board accountable for its failures

Earlier PROXY Governance Inc recommended against Taro Board

Alert: Glass, Lewis & Co & PROXY Governance are leading independent proxy advisory firm



Lupin update

Settles litigation with Hatch - Waxman regarding Memantine Tabs

Alert : Memantine Is Lupins Generic version of Forest Labs NamendaA

NamendaA had sales worth USD 949 million In FY09; contributing 26% of Forests revenues in FY09

Other stocks that are in news today:

Indian ADRs: ICICI Bank up 4%

Board meets : Zee Entertainment and ETC Networks on restructuring

Reliance's Lyondell buy seen unlikely in 2009: Reuters

Max India board meet on January 13 to consider fund raising

IFCI and Aban in NSE F&O curb

ONGC agrees to a special oil tax if the subsidy burden regime is rationalized – FE

GVK in talks with Siemens for BIAL stake – Mint

Hotel Leela Venture promoters raising stake in company to 55% via creeping acquisition – BL (ITC holds 5.1% stake in Hotel Leela)

HDFC Property funds holds back funds on adverse market conditions and unrealistic valuations sought by developers



F&O Updates :

Total Futures Open Int up by Rs 543 crore, Total Options Open Int up by Rs 527 crore

Nifty up 0.7%, Futures Open Int down by 1.5%

Nifty Dec futures trading at 5 pt premium versus 4 pt discount

Nifty Open Int PCR at 1.15 versus 1.12

Nifty Calls shed 4.8 lakh shares, Nifty Puts add 13.8 lakh shares

Nifty 4900 Dec Put adds 8.5 lakh shares

Nifty 5000 Dec Call adds 3.8 lakh shares

Nifty 5000 Dec Put adds 3.9 lakh shares in Open Int ( Had shed 9.2 lakh shares on Monday)

Nifty 5700 March Call adds 2 lakh shares

Stock futures add 2 crore shares in Open Int

FIIs net buy Rs 421 crore in Nifty Futures on December 22

Nifty Futures Open Int down by 3688 contracts on December 22

FIIs net buy Rs 234 crore in Nifty Options on December 22

Nifty Options Open Int up by 1715 contracts on December 22

FIIs net buy Rs 542 crore in Stock futures on December 22

Stock Futures Open Int down by 1283 contracts on December 22

FIIs net sell Rs 1 crore in Stock Options on December 22

FII contribution to total F&O turnover at 22.1% versus 16.8% on Friday


Wall St advances on optimism about housing sector :

The S&P 500 logged another 14-month high on Tuesday as stocks rallied on a surge in existing home sales, which indicated more stabilization in housing and boosted optimism about the economic recovery.

The Nasdaq hit a 15-month high, buoyed by technology bellwethers. International Business Machines Corp shot up 1% to $129.93 on the NYSE after the blue-chip company scored a 10-year outsourcing deal valued at $83 million. Among the Nasdaq's main advancers, Microsoft Corp was up 1% at $30.82.

The Dow Jones industrial average rose 50.79 points, or 0.49%, to end at 10,464.93. The Standard & Poor's 500 Index added 3.97 points, or 0.36%, to 1,118.02. The Nasdaq Composite Index gained 15.01 points, or 0.67%, to close at 2,252.67.

Housing stocks led the way up with the Dow Jones US home construction index up 3.9% following data that showed US existing home sales rose in November at the fastest pace since February 2007.

Shares of DR Horton Inc rose 3.8% to $11.15, while Toll Brothers Inc gained 4.5% to $19.21.

Indian ADR :



Indian ADRs ended mixed on Tuesday. In the banking space, ICICI Bank was up 4.03% at $ 36.11 and HDFC Bank was up 1.27% at $ 126.46. In the telecom space, Tata Communication was up 0.21% at $ 14.53 and MTNL was up 0.99% at $ 3.05.

In the IT space, Infosys was up 0.68% at $ 54.45, Satyam Computers was up 0.41% at $ 4.88 while Wipro was down 0.45% at $ 21.92 and Patni Computers was down 0.48% at $ 19.795.

In other sectors, Sterlite Industries was up 1.41% at $ 17.22 while Dr Reddy’s Labs was down 0.15% at $ 26.09 and Tata Motors was down 0.19% at $ 15.7.