15March 2010 Morning Market Updates

15 March 2010 Morning Updates:
Nifty Resistance : 5170 on closing basis
Support : 5040
Buy Bhartiartl sl 294 Target 307
Buy HCLTech above 363 close sl 357 Target 370
Buy Techm above 921 close sl 909 Target 931
Sell Rpower sl 142 Target 138
Sell KFA sl 53 Target 49
Sell Hindalswhl below 1680 sl 1707 Target 1660 / 1640 / 1625
Sell Punjlloyd sl 180 Target 171

Stocks that are in news today:
Q4 Advance Tax - Sources
Tata Steel pays Rs 513 crore
Bank Of Baroda pays Rs 300 crore
Central Bank Of India pays Rs 250 crore
ICICI Bank pays approximately Rs 200 crore
L&T pays Rs 270 crore
Idea Cellular pays Rs 30 crore
Kotak Mahindra Bank pays Rs 80 crore
MRPL pays Rs 180 crore
SBI likely to pay in excess of Rs 1,800 crore
NMDC FPO
NMDC FPO subscribed 1.25 times (x), QIBs at 2.28x
Domestic institutions bid for 36 crore shares, FIIs bid for 0.08 crore shares
LIC bails out NMDC FPO: sources
LIC subscribes to 75-80% of NMDC issue: sources
LIC puts in nearly Rs 7,500-8,000 crore: sources
NII subscription at 0.22x, Retail also at 0.22x
NMDC received 1.9 lakh retail applications
REC retail applications close to 40,000; NTPC retail applications at 60,000
Will analyse if there is case for better pricing
No need to relook at divestment strategy
LIC, SBI bid in large amounts for private sector issues too
Real test of retail participation when we have an IPO
Triveni Engg
Announces scheme of demerger~of Steam Turbine Business
TTL to allot Triveni shareholders 1 share for every share held
Demerger of Triveni Engg Steam Turbine Biz to TTL w.e.f. October 1, 2010
Market cues:US Markets:

Inflation data will be announced today.February inflation at 9.78% as against 8.56% on month-on-month basis.
FIIs were net buyers to the tune of USD 98.3 million while MFs net sellers of Rs 244 crore in equities on March 11, according to SEBI website.
NSE F&O Open Interest was up by Rs 4,613 crore at Rs 1,19,452 crore.
As per provisional data, FIIs were net buyers to the tune of Rs 371 crore while DIIs net sellers of Rs 91 crore in cash markets on March 12. FIIs net bought Rs 424 crore in F&O.

Mixed consumer and retail data kept US stocks near break even on Friday, but major indexes edged higher for a second straight week.
The S&P 500 failed to build on Thursday's gains, which pushed it to a 17-month high, in what was a tepid week for both bulls and bears. With few economic data points or corporate earnings reports, the stock market struggled for direction.
"The little data we've seen was of a mixed variety. All you can call it is a positive bias," said Joseph Battipaglia, market strategist at Stifel Nicolaus in Yardley, Pennsylvania.
February retail sales rose after forecasts had called for a decline and a Dow Jones index of retailer stocks gained 0.5%. Macy's Inc rose 3.3% to USD 21.75.
But a separate report showed consumer sentiment edged lower in early March, according to a survey that noted a less positive view of the job outlook.
The Dow Jones industrial average gained 12.85 points, or 0.12%, to end at 10,624.69. The Standard & Poor's 500 Index shed 0.25 point, or 0.02%, to 1,149.99. The Nasdaq Composite Index dipped 0.80 point, or 0.03%, to close at 2,367.66.
For the week, the Dow gained 0.55%, the S&P 500 climbed 1% and the Nasdaq advanced 1.78%.
Bank shares slid after having dominated the week's activity on what analysts saw as an improved outlook for the sector. Citigroup Inc fell 5% to USD 3.97 on Friday, but was still up 13.4% for the week, its best since August.
On Friday, the KBW bank index dropped 0.9%.
Health insurers' stocks fell as a group, with the Morgan Stanley healthcare payor index down 1.4%, its largest daily percentage drop in three weeks. Aetna Inc dropped 2.6% to USD 31.84.
Caterpillar Inc jumped 2.5% to USD 60.36 and ranked as the Dow's top points gainer a day after the heavy equipment maker said it could triple its current US output of hydraulic excavators.
CF Industries Holdings Inc fell 3.9% to USD 96.73 after Agrium Inc abandoned its USD 5.4 billion bid for the company, bringing CF closer to clinching a deal with Terra Industries Inc. Agrium jumped 8% to USD 72.10.
In other economic data, the Commerce Department said business inventories were unchanged in January, compared with a forecast for a 0.2% rise.
About 8.3 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, below last year's estimated daily average of 9.65 billion.
Advancing stocks outnumbered declining ones on the NYSE by a ratio of about 5 to 4. On the Nasdaq, the trend was reversed, with about six stocks falling for every five that rose.
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