8 April 2010 Morning Market Updates

8 April 2010 Morning Market Updates  08:52
Today market will open negative because of weak global cues.Nifty may take support at 5340-5333.A close below 5330 will lead further bearishness.
Recommendations :
Follow buy calls in positive market bias and v.v.
Buy Aban sl 1245 Target 1264 / 1274
Buy Acc sl 971 Target 985
Buy Grasim sl 2860 Target 2930
Buy Idea sl
Buy BPCL Above 519 sl 512 Target 530
Buy Maruti Above 1409 sl 1398 Target 1424
Gail Ref.05/04 Book profits or Raise sl 428
IDFC Ref.06/04 Trail sl 167


Sell Axisbank sl 1173 Target 1151
Sell Cipla sl 339 Target 329
Sell M&M sl 541 Target 516
Sell Jindalstel Below 705 sl 712 Target 696
Sell JPAssociat Below 150 sl 152 Target 147
Sell LT Below 1633 sl 1646 Target 1623 / 1615
Sell GMRInfra Below 60 sl 61 Target 58
Sell JSWSteel Below 1251 sl 1266 Target 1233
Sell Patni Below 541 sl 550 Target 534
Hindunilver Ref.06/10 trail sl 229
Stocks in News :
Kotak Mahindra Bank to replace Grasim in Nifty from today
M&M
-Hikes UV product range prices across board
-Scorpio prices hiked up to Rs 10,300 - 17,500
-Bolero prices hiked up to Rs 26,100
-Xylo prices hiked up to Rs 15300 - Rs 15900
-Hike due to rise in commodity prices, Euro 4 norms
SAIL :
SAIL divestment on CCEA agenda today
-Proposal for 10% share sale in SAIL
-Proposal for 5% disinvestment and 5% fresh equity
-Proposal seeks broad approval for 2nd tranche of share sale
-Proposal for 5% discount for retail investors
Mallya Says :
-Comfortable with debt; don't need to deleverage
-Don't see need to sell Treasury Stock
-Still undecided on GDR for Kingfisher Airlines
-At current growth rate, can overtake Diageo in this FY
-5-6 million cases away from being world's number 1 spirits company
-Mulling substituting Diageo deal with another purchase
-Heineken to be launched towards end of this year

Other stocks and sectors that are in news today:
-Indian ADRs: ICICI Bank down 3%
-IVR Prime to change its name to IVRCL Asset & Holdings
-Kirloskar Oil shares to be suspended from April 21 on scheme of arrangement
-Elecon Engg bags orders worth Rs 88 crore
-Bharati Shipyard buys further 0.54% stake in Great Offshore, stake reaches 49.73%
-Govt to set up group of ministers to take a call on BSNL disinvestment
-Howard Hotels open offer at Rs 13.20/share
-Oil India plans overseas E&P spin-off
-NPPA issues show- cause notice to Piramal Health for selling Pred Acetate pack without approvals
-Redington plans acquisition in Africa
F&O cues:
Futures Open Int up by Rs 483 crore
Options Open Int up Rs 2,285 crore
Nifty Futures add 2 lakh shares in Open Int
Nifty Futures at 10-pt premium
Stock Futures add 0.3 crore shares in Open Int
Nifty Open Int PCR at 1.32 versus 1.29
Nifty Puts add 25 lakh shares in Open Int
Nifty Calls add 8 lakh shares in Open Int
Nifty 5300 Put adds 10 lakh shares in Open Int
Nifty 5400 Put adds 5 lakh shares in Open Int
Nifty 4800 Put sheds 11 lakh shares in Open Int
FIIs in F&O on April 7
Net sell Rs 121 crore in Nifty futures
Net buy Rs 1260 crore in Nifty options
Market cues:
FIIs were net buyers of USD 132.8 milliion in equities on April 6
MFs were net sellers of Rs 147.7 crore in equities on April 6
NSE F&O Open Int was up by Rs 2,768 crore at Rs 1.10 lakh crore
As per provisional data of April 7, FIIs were net buyers of Rs 339 crore in cash markets, while DIIs were net sellers of Rs 23 crore in cash markets. FIIs net buy Rs 1178 cr in F&O.
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