16 April 2010 Morning Market Updates

16 April 2010 Morning Market Updates 08:54
Yesterday's sliding will continue in the first session as Asian markets are trading weak.Nifty have a support at 5210.
Recommendations :
Hold Short Nifty Fut. Ref.13/04 Trail sl 5303 Target 5223


Hold Short Banknifty Fut. Ref.13/04 Trail sl 9420 Target 9250 / 9138

Sell ABB sl 838 Target 825

Sell Biocon sl 300 Target 290

Sell Essaroil sl 144 Target 138

Sell Hindoilexp sl 246 Target 238

Sell IDFC sl 166 Target 160

Sell LICHSGFIN sl 860 Target 841

Sell Max sl 196 Target 188

Sell Punjlloyd sl 176 Target 170

Sell Reliance sl 1105 Target 1078

Sell SBIN sl 2072 Target 2025

Sell Tatamotors Below 768 sl 773 Target 759

Sell Yesbank sl 255 Target 248



Weak Stocks :

IRB
ITC

Stocks in News :
Results today: Crisil, DCB, IndusInd Bank, Gruh Finance, KPR Mills




Hardy Oil

-Releases report on assessment of D3 & D9 prospectively

-KG D9 prospective resource numbers downgraded 50% (5.4 TCF gross)

-Successes in D3 have led to an upgrade of 56% (1.4 TCF gross)

Alert: Hardy Oil is RIL’s 10% partner in KG D9 and D3

Alert: RIL's risked resource estimate reduced by an aggregate of 11%

Alert: RIL’s risked resource estimate reduced to 2bn barrels of oil equivalent in blocks.

Analysts estimate that the impact on valuations would be Rs18/share or 1.7% of current stock price.





Govt sources

-SEZ contiguity norms likely to be relaxed

-CNBC-TV18 ALERT: Proposed move to benefit RIL

-New contiguity norms to bring down cost of SEZ projects

-Relaxation in contiguity norms for SEZ non-processing areas



VST (Q4, bad numbers)

-Sales at Rs 105.7 crore versus Rs 102.19 crore (YoY)

-PAT at Rs 3.44 crore versus Rs 18.1 crore (YoY)

-Operating profit at Rs 1.7 crore versus Rs 25 crore



CMC (FY10)

-Sales at Rs 690 crore versus Rs 820 crore ( YoY)

-PAT at Rs 129.58 crore versus Rs 105.57 crore (YoY)



Other stocks and sectors that are in news today:

-Oil PSUs to up ATF prices by avg Rs 1,363/kL on Friday

-GMR Infra QIP opened yesterday, book crosses USD 300 million

-Welspun India raises Rs 155 crore via QIP

-New listing: Goenka Diamond

-HDFC launches dual rate home loan scheme, HDFC to offer fixed rate loans at 8.25% for 2 ye

F&O cues:




Futures Open Int down Rs 113 crore



Options Open Int up Rs 1,846 crore





Nifty Apr fut shed 4 lakh shares in Open Int, at 4-pt prem



Nifty May fut add 6 lakh shares in Open Int, at 7-pt prem



Nifty Open Int PCR at 1.23 versus 1.28



Nifty Puts add 1 lakh shares in Open Int



Nifty Calls add 22 lakh shares in Open Int



Nifty 5300 Put sheds 5.8 lakh shares in Open Int



Nifty 5300 Call adds 13 lakh shares in Open Int



Stock futures Open Int unchanged



FIIs in F&O on April 15



Net sell Rs 862 crore in Nifty futures



Open Int down 3,863 contracts



Net buy Rs 475 crore in Nifty options



Open Int up 20,844 contracts

Market cues:




FIIs were net buyers of USD 136.2 million in equities on April 13



MFs were net sellers of Rs 257.9 crore in equities on April 13





NSE F&O Open Int was up by Rs 1732 crore at Rs 1.23 lakh crore



As per provisonal data of April 15, FIIs were net buyers of Rs 99.7 crore, while DIIs were net sellers of Rs 77 crore in cash markets. FIIs were net buyers of Rs 391 crore in F&O.



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