26 May 2010 Morning Market Updates

26 May 2010 Morning Market Updates  08:50
Market will open on a higher side as Asian markets trading positively but may witness volatility as May month FO expiry is tomorrow.Stock specific rally in high beta stocks like banking ,infrastructure and metals are expected.Be cautious on lower levels for new shorts.Punters will be keen on winding up the positions.
Nifty resistance is at 4870 and 4950.Support is at 4750.
Stocks in News :
Results Today:
Tata Steel, Asian Hotels, Bank of India, Cinemax India, Dalmia Cement, Ess Dee Aluminium, Everest Kanto, Godrej Industries, HPCL, Indian Hotels, K Sera Sera, Mphasis, Oil India, REI Agro, BHEL (Provisional numbers already out)

Power Grid FY10 (cr - crore, vs - versus)
-Net sales at Rs 7,127.5 cr vs Rs 6,675.9 cr
-Net profit at Rs 2,040.9 cr vs Rs 1,690.6 cr
Mercator Lines FY10

-Cons net sales at Rs 1431.3 cr vs Rs 2133.6 cr
-Cons net profit at Rs 53.2 cr vs Rs 376.5 cr
Nagarjuna Construction Q4:
-Net profit at Rs 103 cr vs Rs 38.2 cr (YoY)
-Revenue at Rs 1,522 cr vs Rs 1,096 cr (YoY)
HUL Q4:
-Net sales at Rs 4,315.8 cr vs Rs 3,988.3 cr (YoY)
-Net profit at Rs 581.2 cr vs Rs 395 cr (YoY)
JM Financial FY10
-Sales at Rs 598 cr vs Rs 464 cr (YoY)
-PAT at Rs 151.6 cr vs loss of Rs 105.2 cr (YoY)
Jai Corp Q4 (Standalone)
-Sales at Rs 117 cr vs Rs 71.7 cr (YoY)
-PAT at Rs 17.9 cr vs Loss of Rs 26.3 cr (YoY)
Tata Tea Q4 (Consolidated)
-Sales at Rs 1570 cr vs Rs 1276 cr (YoY)
-Reported PAT at Rs 30 cr vs Rs 12 cr (YoY)
-Exectional loss of Rs 14 cr vs Rs 52 cr (YoY)
-Effective Tax rate at 70%
Other stocks and sectors that are in news today:
-Marico acquires aesthetics business (essentially skin care Product & Services business) of Derma Rx ((Singapore)) for a consideration slightly above Rs100cr; Implied P/E is around 10x
-Aban Offshore : Approves fund raising of $400 Mn through issue of FCCBs, GDRs, ADRs etc & QIP of upto Rs 2500 crore
-HCC : bags Rs 888 crore contract for Rajasthan Atomic Power
-Tata Tea : Approves stock split in the ratio of 10:1
-Grasim to be replaced by JSPL in Sensex from today
-Grasim ex-date for de-merger of samruddhi cement ((Consensus estimate for samruddhi @ Rs.490/shr))
-Adani Enterprise, REC, Piramal Healthcare to be added to MSCI Index w.e.f today
-Lodha Developers pays a Rs 4000 crore to bag 25000 sqmt plot in Wadala, Mumbai
-ICICI Ventures plan IPO
-M&M may buy majority stake in Reva, announcement today
-AV Birla group revives plans to enter power space, in talks for an acquisition of a thermal plant in South India
F&O cues:

Futures Open Int down Rs 380 crore
Options Open Int up Rs 4490 crore
Nifty May Futures shed 41 lakh shares in Open Int

Nifty May Futures at 2-point premium
Nifty June Futures add 74 lakh shares in Open Int
Nifty June Futures at 16-point discount
Nifty Open Int PCR at 0.99 versus 1.04
Nifty Puts add 28 lakh shares in Open Int
Nifty Calls add 70 lakh shares in Open Int
Nifty June 4200 Put adds 9 lakh shares in Open Int
Nifty June 4300 Put adds 9 lakh shares in Open Int
Nifty June 4500 Put adds 8 lakh shares in Open Int
Nifty May 4900 Put sheds 19 lakh shares in Open Int
Nifty May 5000 Put sheds 16 lakh shares in Open Int
Nifty May 4900 Call adds 24 lakh shares in Open Int
Nifty May 4800 Call adds 23 lakh shares in Open Int
Stock Futures shed 2.3 cr shares in Open Int
Marketwide rollover at 46% versus average of 42%
Nifty rollover of 45% versus average of 42%
Nifty June discount on dividends, short rollover
FIIs in F&O May 25
Net sell Rs 568 crore in Nifty Futures
Net buy Rs 1483 crore in Nifty Options
Net buy Rs 159 crore in Stock Futures
US Markets :
US stocks erased most of their earlier losses in the final half-hour of trading as materials and consumer discretionary stocks advanced. The Dow fell as much as 292 points within the first 15 minutes of trading, but the market steadied eventually. The rebound gained upward momentum after the release of the May consumer confidence index, which topped expectations by coming in at a two-year high of 63.3.The Dow ended down 22 points, after shedding nearly 300 points initially. The S&P 500 turned positive and the Nasdaq also recovered most of its losses after falling more than 2%.