Updates for 9 Dec,2009

9 Dec,2009   09:25 hrs


Asian Updates :

SGX Nifty was down to 5107
Hang Seng was down by 0.58 %
Nikkei Down by 1.50% down
SSE was down by 1.62 %
STI was down by 0.05%


Japan's economy grew at a far slower pace in the third quarter than first thought as capital spending fell, but a double-dip recession is seen as unlikely as exports rebound and corporate spending shows signs of bottoming out.


China Shipbuilding Industry said on Wednesday it priced its A-share initial public offering at 7.38 yuan a share, as expected at the top of an indicated range, raising 14.7 billion yuan ($2.2 billion).



China's stimulus spending is on track to create at least 24 million jobs, the government said on Tuesday, offering its rosiest employment outlook since the financial crisis struck last year.


Nifty range : Nifty Support 5120/5080/
Resistance : 5180-5190
MARKET will open gap down As for global markets closed down, Asia opened in negative note , while European and us markets expected to open positive ,which may throw surprises . FII data released with some positive surprises, In view of major domestic or international triggers, Markets will be volatile with bothway moves . sudden and sharp ‘upmove’ in the 2nd half of the trading session expected . Markets are very clearly moving into trading zone, with higher levels around 5180 of NIFTY attracting ‘Profit-sales’. This could ‘arrest’ an‘ upmove’. With no major immediate ‘triggers’ in domestic markets, an Institutional activity (FIIs action) and Global cues will decide the trend in markets today. ‘Weak U.S. dollars was one of the main driver for ‘rally’ in domestic markets in the recent past. As rise in ‘dollar index’ may trigger ‘unwinding’ of dollar-carry trades NIFTY may find a ‘stiff-hurdle’ in the range 5180 and later around 5220. On the whole, markets are likely to stage a smart move in the later half of the day.






Derivative Market Updates :


Jindal Saw, SBI December 2009 futures at premium




Nifty December 2009 futures were at 5,159.30, at a premium of 11.35 points as compared to the spot closing of 5,147.95. Turnover in NSE's futures & options (F&O) surged to Rs 69428.98 crore from Rs 58040.99 crore on Monday, 7 December 2009.



Jindal Saw December 2009 futures were at premium at 991.80 compared to the spot closing of 987.10.

State Bank of India (SBI) December 2009 futures at premium at 2,313.10 compared to the spot closing of 2,307.

IFCI December 2009 futures were near spot price at 57.30 compared to the spot closing of 57.15.

In the cash market, the S&P CNX Nifty rose 81.25 points or 1.60% at 5,147.95.


Top News:

Volkswagen may take upto 20% stake in Suzuki Motors.

IGL to spend Rs.1600 cr for expamsion in Delhi.

Steel sector ready to meet carbon target.

FM seeks Rs.25725 cr extra spending.

Ficci seeks tax benefits to boost realty sector.

MF inflows dip by 68% to Rs.45124 cr in Nov.




Buy in Dips :


Parsvnath
Jindalswhl

DLF
Rajeshexpo

DSKulkarni

ITC

Punjlloyd

Jaicorp

Unitech abv 92





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