12 May 2010 Morning Market Updates

12 May 2010 Morning Market Updates  08:41

Stocks that are in news today:

Results today: Bajaj Auto, Bajaj Holdings, Blue Star, DB Realty, Dewan Housing, Glodyne Tech, Hathway Cables, Mahindra Forging, Mangalore Refineries, Rohit Ferro, RPG Life, Thermax, Welspun India
MSCI changes:
Adani Enterprises, Piramal Healthcare, REC added
Idea deleted
Changes effective from May 26
Tata Tele says
TRAI not addressed inequality in spectrum allotment
Recommendations fail to address issue of excess spectrum beyond 6.2 MHz
Does not recognise status as dual technology UASL-holder
TRAI recommendations have pushed co further behind in the queue
TRAI Recommendations adversely impact company
Reliance Communications concall
TRAI recommendations pro spectrum efficiency
Govt will be able to release additional spectrum
Networks like Rel Comm are first in queue for more spectrum
Incumbent operators will have to pay up for excess spectrum
Incumbent operators will have to return excess spectrum
Impact on incumbent GSM operators close to Rs 10000 crore
Company's impact only Rs 22 crore, TRAI views are progressive
Other stocks and sectors that are in news today:
Cadila Healthcare in Pact with Abbott for Branded Generics for emerging markets
Dhanalakshmi Bank board approves raising of capital via QIP
Seamec : resumed vessel contract with Dulam International ltd on revised terms. Revenue during the above period would be around USD 5.4 million
Everonn Education: Board meet on May 19 to issue convertible debentures & equity warrants to promoters
Larsen & Toubro wins an order in Water Technology Business in Doha, Qatar worth Rs 850 crore
BT waiting for Satyam merger to exit Tech Mahindra – BL
Center may get tough on Power equipment from China – BL
Ranbaxy will setup a Japan Focused unit – DNA
Purvankara, Homes Venture to launch 2 msf project
Market cues:

Index of Industrial Production (IIP) data will be released today. CNBC-TV18 poll sees March IIP at 14.9% as against 15.1% (MoM).
NSE F&O Open Interest was up by Rs 463 crore at Rs 1.25 lakh crore.
Institutional action
FIIs were net buyers to the tune of Rs 20 crore and DIIs net buyers of Rs 22 crore in cash markets on May 11, as per provisional data available on NSE website. FIIs net bought Rs 1974 crore in F&O.
F&O cues:

Nifty Futures Open Interest down by Rs 957 crore
Nifty Options Open Interest up by Rs 1420 crore
Nifty Futures shed 2 lakh shares in Open Interest
Nifty Futures ended at 3-point discount
Nifty Open Interest PCR at 1.13 versus 1.16
Nifty Puts added 3.5 lakh shares in Open Interest
Nifty Calls added 16 lakh shares in Open Interest
Nifty 4800 Put added 3.5 lakh shares in Open Interest
Nifty 5200 Call added 4.9 lakh shares in Open Interest
Nifty 5100 Call added 3.9 lakh shares in Open Interest
Stock Futures Open Interest unchanged
FIIs in F&O
FIIs net buy Rs 83 crore in Nifty Futures
Nifty Futures Open Interest down 3,145 contracts
Net buy Rs 2161 crore in Nifty Options
Nifty Options Open Interest up 3,606 contracts
Net sell Rs 243 crore in Stock Futures
Stock Futures Open Interest down 4,530 contracts
US markets:
The US markets ended lower after a choppy session. Investors locked in some profits as Geopolitical worries left the market a little jittery.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, was below 28 at the closing bell.
Financial shares and tech issues helped push the broader market to its session high. However, both sectors retreated to a 0.5% loss. Volumes were bris
The Dow Jones Industrial Average closed at 10,748.26, down 36.88 points or 0.34% and the S&P 500 Index at 1,155.79, down 3.94 points or 0.34%. However, Nasdaq Composite ended at 2,375.31, up 0.64 points or 0.03%.

The US dollar rose against the euro, which fell as concerns about the euro zone's ability to contain a debt crisis blunted initial enthusiasm after this week's 1 trillion dollar rescue package.
Ari Bergmann, CEO, Penso Advisors said, "We have to realize something. Here is not only a liquidity problem. This is a solvency problem. The execution is very difficult. It's a social problem, it's politics. It's very different from the housing in US. So this liquidity it's only a short term solution. We have got long term problems and perhaps a default might be inevitable."
Precious metals soared. June gold hit a new all-time high at USD 1235.20 per ounce. July silver climbed 4% to USD 19.29 per ounce.
Commodities as a whole ended relatively flat. Crude futures however pulled back and slipped 0.6%.
Base metals however declined. Copper slid on doubts over European Union rescue plan
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 an informative. 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 Buy or Sell or a solicitation to Buy or Sell any security. The information contained in this report other than recommendations 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, business associates, 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 as the market related investments are subject to market risk and volatility. 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 and / or its affiliates and / or its business associates and / or its directors and / or its employees and / or its representatives and / or its clients and / 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 and / or after to publication.The information shared in this blog may be and or may not be 100% perfect as it is being shared from many sources. It is recommended for the recipients to take their decisions according to re-verification of the shared information. No arguments and / or claims and / or objections will be entertained.

Contact Details :
Email : info@integrity.org.in
Call : +91 99750 60000
For Abroad Investors : +91 9371031008