10 March,2010 Market Morning Updates

10 March 2010 Morning Market Updates 08:54
Today market will open flat and will trade rangebound between 5070-5135.Any strong movememnt in global markets will lead the rally in our market accordingly.
Recommendations :
Buy HCLTech above 363 sl 360 Target 368

Buy Concor above 1222 closing sl 1208 Target 1244 Positional
Buy Glenmark above 259 closing sl 256 Target 265
Buy Techm above 925 sl 914 Target 947
Book full profits Jisljaleqs Ref.15/02 at 963-978 T3 reached
Hold long Orbitcorp Ref.04/02 Trail sl 262 Target 294 Positional
Sell Cairn below 266 sl 269 Target 261
Sell Cipla sl 319 Target 310
Sell Hindalco below 159 sl 162 Target 155
Ranbaxy Trail sl 453 Target 444
Hold short Reliance Trail sl 1001 Target 978
Sell HDIL below 307 sl 311 Target 301
Sell IDBI below 119 sl 121 Target 115
Sell Jaicorpltd sl 246 Target 239 / 235
Stocks that are in news today:

Public Offer
NMDC FPO opens today
DQ Entertainment IPO (closes today)
Total subscription at 3.57 times (X)
QIB at 6.47X, NII at 0.05X, Retail at 00.93X, Employee at 0.0125X
Man Infrastructure IPO to list tomorrow
Power Secretary seeks early allocation of 12 mmscmd of gas for NTPC: Exclusive
Power Secretary writes to Oil Secretary
Seeks early note on EGoM for NTPC gas allocation
Proposal for gas to NTPC was understanding between ministers
HDIL fund raising - Sources Say
HDIL mulling 2nd QIP in March; to raise USD 200-300 million via private placement
HDIL has enabling resolution to raise USD 450 million; QIP funds for expansion plans
Tata Motors Block Deal Update
Tata Sons buys 4 million & Citigroup buys 4.6 million Tata Motors shares from Daimler
Tata's Jaguar Land Rover gets 340 million pound EU loan
Banks
5 banks approached to assist setting up Education Fin Corp
Proposal drafted after consulting SBI, Union Bank, Bank of India, IDBI, Corporation Bank oppose setting up of EFC
SEBI says
In the process of introducing ASBA bidding option for QIBs
ASBA for QIBs to reduce time gap to T+7 fm existing T+22 by year end
Not opportune time to promote derivatives in OTC products
Considering various options for feasibility of physical delivery in F&O
May look at a separate alternate window for physically settled derivatives

May look at limiting physical settlement on select securities
May look at providing the choice of physical delivery to the sellers
RBI gives in-principle nod for SBI, State Bank Of Indore merger: sources
RBI seeks changes in SBI-State Bank Of Indore merger scheme: sources
Merger can be implemented with proposed changes by RBI: Sources
Share swap ratio of SBI, State Bank Of Indore merger at 34:100
34 SBI shares to be given for 100 State Bank Of Indore Shares
F&O cues:

Futures Open Int up Rs 173 crore, Options Open Int up Rs 2092 crore
Nifty futures add 1 lakh shares in Open Int, at 4-point discount
Nifty Open Int PCR unchanged at 1.35
Nifty Puts add 20 lakh shares, Calls add 13 lakh shares in Open Int
Nifty 5000 Put adds 9 lakh shares in Open Int
Nifty 5300 Call adds 2.5 lakh shares in Open Int
Stock futures add 1.5 cr shares in Open Int
FIIs in F&O on March 9
Net sell Rs 24 crore in Nifty futures, volumes extremely low.
Net buy Rs 254 crore in Nifty options
Net sell Rs 538 crore in Stock futures, Open Int up 12,044 contracts
US Markets:
The US stocks eked out a modest gain as the one-year anniversary of the March 2009 lows brought a mix of profit-taking and optimism. Since March 9, 2009, the Dow is up 59%, the S&P rose 67% and the Nasdaq gained more than 80%.

In yesterday's trade volume was just shy of last year's daily average at 9.24 billion shares for the three major exchanges but a significant improvement from the past few weeks when daily trading was two billion below last year's average. Advancer's outpaced decliners in a 4 is to 3 ratio.
Financials made a comeback, notably the ones bailed out by the government. Citigroup surged over 7%, AIG ended more than 12% up.
Fannie MAE and Freddie MAC added more than 5% each amid speculation that the government may be planning to restrict short sales on the companies it's bailed out and currently owns stock in. Alcoa and Merck were among the biggest drags on the Dow.

At the end of trade the Dow closed 12 points higher at 10,564, the S&P 500 ended at 1,140. Nasdaq shut shop at 2,340.
The euro declined against the dollar on concerns that the peripheral euro zone economies could face debt problems similar to those of Greece. Comments from Fitch ratings on Portugal's austerity measures weighed on the currency.
Discalimer:This document has been prepared by the Research Division of Integrity Financial Consultants Pvt. Ltd.,Pune, India and is meant for use by the recipient only as information and is not for circulation. This document is not to be reported or copied or made available to others without prior permission of iNTEGRITY. It should not be considered or taken as an offer to sell or a solicitation to buy or sell any security. The information contained in this report has been obtained from sources that are considered to be reliable. However, iNTEGRITY has not independently verified the accuracy or completeness of the same. Neither iNTEGRITY nor any of its affiliates, its directors or its employees accept any responsibility of whatsoever nature for the information, statements and opinion given, made available or expressed herein or for any omission therein. Recipients of this report should be aware that past performance is not necessarily a guide to future performance and value of investments can go down as well. The suitability or otherwise of any investments will depend upon the recipient's particular circumstances and, in case of doubt, advice should be sought from an independent expert/advisor. Either iNTEGRITY or its affiliates or its directors or its employees or its representatives or its clients or their relatives may have position(s), make market, act as principal or engage in transactions of securities of companies referred to in this report and they may have used the research material prior to publication.


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