28th May 2010 Morning Updates:

28th May 2010 Morning Updates:
Markets will open with gap up as global cues are positive.
Book profit at higher lever.
Nifty resistance 5070
Stocks that are in news today:
Results today - SAIL, ONGC, IOC, BEML, Unitech, Apollo Hospital, Ackruti City, Anant Raj Inds, Apollo Tyres, Asian Paints, Bank of Rajasthan, Brand House, EIH, Emami, Fortis Health, Glenmark Pharma, HDIL, IPCA Labs, Kalpataru Power, Kingfisher Airlines, Pipavav Shipyard, PNB, Prakash Inds, Punj Lloyd, PVR, Reliance Media, Sun TV Network, Trent, TV Eighteen, Voltas, Wire & WirelessSix new addition in F&O with effect from today ((Exide, Gujarat Mineral Development Corporation, Jindal South West Holdings, Ruchi Soya, Sobha Developers and Hexaware Technologies))
Tata Steel

Board approves preferential issue of 1.5 crore shares to Tata Sons
Board approves issue of 1.2 crore warrants to Tata Sons
Other stocks and sectors that are in news today:
Shree Renuka-Equipav talks turn sour, final talks likely soon Areva T&D India open offer at Rs 295.35/sh
M&M close to buying stake in Ahmedabad based drip irrigation company Parixit 
Actis to buy stake in GVK’s power biz
Khazana- Fortis race for Parkway shifts focus to Apollo Hospital, Khazana has 13% stake in Apollo and could be a right partner
Good Year reverse book building starts today ((ends 3rd June))
Blue Star : Mulls a board meet on 31 May for a proposal for purchase of a business
Pantaloon Retail (India): Mulls a board meet for raising of funds through issue of equity or debt or hybrid instruments
OMAXE :Board approved plans to raise upto Rs 1000 cr via QIP (was earlier looking at raising Rs 800 crore; current holding 89.14%)
Surya Pharmaceutical : Board has decided to raise upto Rs 300 crore & Raise upto USD 50 million via FCCB
Essar Shipping Port : Approved raising USD 500 million via equity linked instrutments
India Steel : Entered M/s TB Investments Ltd. to subscribe for 2,70,00,000 equity shares @ Rs.7/share
F&O cues:

Nifty Open Int PCR at 1.22 versus 1.15
Nifty 5100 Call adds 12.4 lakh shares in Open Int
Nifty 5200 Call adds 10.7 lakh shares in Open Int

Nifty 4800 Put adds 9.7 lakh shares in Open Int
Nifty 4900 Put adds 7.9 lakh shares in Open Int
Nifty 5000 Call adds 5.8 lakh shares in Open Int
FIIs in F&O on May 27
Net buy Rs 832 crore in Nifty Futures
Net sell Rs 289 crore in Nifty Options
Net buy Rs 194 crore in Stock Futures
Market cues:

Begins with Open Int of Rs 92,191 crore versus Rs 92,976 crore in May
Futures Open Int down Rs 4815 crore
Options Open Int up Rs 4031 crore

As per provisional data of May 27, FIIs were net sellers of Rs 533 crore; DIIs were net buyers of Rs 410 crore in cash markets. FIIs were net buyers of Rs 610 crore in F&O.
US Markets:
A certifiable rally on Wall Streets; stocks having second biggest day of gains in 10 months, the Dow almost 3% higher on a gain of 284 points, S&P 500 up 35 points and the Nasdaq picking up 82 points.

Stocks are soaring all day long after China reassured the market that it will not be dumping its Eurozone debt holdings that overshadowed economic data that came in below expectations.
The US economy is still bouncing back, but just not as fast as hoped. The Congress Department says that Gross Domestic Product (GDP) grew at a 3% pace at the start of the year slightly less than originally thought and jobless claims fell by 14,000 last week to 460,000 a smaller than anticipated drop
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