11 May 2010 Morning Updates

11th May 2010 Morning Updates:
Stocks that are in news today:
Results today: Ranbaxy Labs, Kotak Mahindra Bank, Bajaj Hindusthan, Bajaj Binserv, Bajaj Auto Finance, Hindalco, Jain Irrigation
Indian ADRs: Tata Motors up 12%, ICICI Bank up 11%, Sterlite up 10%, Satyam up 9%, HDFC Bank up 8%, MTNL up 7.5%, Patni up 7%, Infosys up 6%, Dr Reddy’s up 5.4%
HT Media Q4 (cr - crore, vs - versus)
Consolidated net profit at Rs 48 cr Vs Rs 7.6 cr (YoY)
Consolidated net sales at Rs 374 cr Vs Rs 338 cr (YoY)
Jubilant Foodworks Q4
Net profit at Rs 10.4 cr Vs Rs 3.8 cr (YoY)
Net sales at Rs 124 cr Vs Rs 74 cr (YoY)
Orissa Sponge Q4
Sales at Rs 49.6 cr vs Rs 43.5 cr
Loss at Rs 8.7 cr vs Loss at Rs 19.6 cr
Technocraft Q4
Sales at Rs 108.9 cr vs Rs 99.7 cr (YoY)
PAT at Rs 3.02 cr vs Loss at Rs 7.01 cr (YoY)
Other stocks and sectors that are in news today:
Merck settles out of court with Glenmark for drug Zetia
Astral Poly Technik : Mulls a board May 21 for stock split
Advanta India : Mulls a board May 13 for rights issues
Rain Commodities: Mulls on May 18 to consider and approve the Scheme of Arrangement for Corporate Restructuring
Fortis Healthcare : Issues 2.235 cr shares on preferential basis to GIC at Rs 170/share
Market cues:
Asian markets opened with gains after relentless selling last week.
FIIs were net sellers to the tune of USD 309.6 million in equities on May 6, as per data available on SEBI website.
NSE F&O Open Interest was up by Rs 3425 crore at Rs 1.22 lakh crore
Institutional action
FIIs were net sellers to the tune of Rs 1308 crore while DIIs net buyers of Rs 654 crore in cash markets on May 7, as per provisional data available on NSE website. FIIs net bought Rs 807 crore in F&O.
F&O cues:
Futures Open Interest down by Rs 1085 crore, Options Open Int up by Rs 4510 crore
Nifty futures added 4.8 lakh shares in Open Interest, ended at 2-point premium
Nifty Open Interest PCR unchanged at 1.11
Nifty Puts added 40 lakh shares, Nifty Calls added 36 lakh shares in Open Int
Nifty 4700 Put added 16 lakh shares in Open Int
Nifty 4800 Put added 10 lakh shares in Open Int
Nifty 4900 Put added 8.6 lakh shares in Open Int
Nifty 5100 Put shed 7.2 lakh shares in Open Int
Nifty 5000 Call added 13 lakh shares in Open Int
Nifty 5200 Call added 8.9 lakh shares in Open Int
Stock futures shed 1.7 crore shares in Open Int
FIIs in F&O 
FIIs net sell Rs 492 crore in Nifty futures, Open Int up 5,934 contracts
FIIs net buy Rs 862 crore in Nifty options, Open Int up 1.48 lakh contracts
FIIs net buy Rs 444 cr in Stock futures, Open Int up 2,477 contracts
US Markets:
The US stocks logged their biggest gains in over a year after the European Union (EU) and International Monetary Fund (IMF) agreed to a USD 1 trillion emergency-bailout package to stem the sovereign-debt crisis. It was the biggest point and percentage gain for the Dow since March 2009.

The CBOE Volatility Index was just shy of 30 at the closing bell.
Financials, industrials and consumer discretionary - the stocks that got hammered the most last week - led the pack today. Bank of America gained more than 7%, while Citigroup added 5.5%.
The Dow Jones Industrial Average closed at 10,785.14, up 404.71 points or 3.90%. The Nasdaq Composite ended at 2,374.67, up 109.03 points or 4.81% and S&P 500 Index was at 1,159.73, up 48.85 points or 4.40%.

European stocks rallied the most in more than 17 months after policy makers unveiled an unprecedented loan package worth almost USD 1 trillion. The Bank of England left bank rate unchanged at 0.5%/
The PIIGS (Portugal, Italy, Ireland, Greece, and Spain) markets too saw an average gain around 10% each.
John Lipsky, First Dy MD at IMF said, "Given this very critical test, the response has been very very decisive and clear. We have seen a very sharp response in the markets. Of course going forward it will require implementing not only the mechanism itself, not only the mechanisms for fiscal surveillance within the EU but ultimately adjustment measures by the countries themselves that need to restore fiscal balance."
The euro meanwhile retreated as bailout enthusiasm fades and investors focused on whether the plan would be effective.
Commodities bounced off nearly a 3-month low to close 1.6% higher this session.
June crude oil futures bounced off a near 3-month low and climbed 2.3% higher at 76.80 dollar per barrel.
Industrial metals continued to log gains and gave a thumbs-up to the EU aid package.
Gold meanwhile saw its first lower closing in 4 sessions. It's right now however at 1200 level in Asia trade.
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