1st June 2010 Morning Market Updates

1st June Morning Market Updates:
Stocks that are in news today:
Axis Bank
Axis Bank could be looking at merging Karnataka Bank with self
Alert: Axis Bank owns 1.19% stake in Karnataka Bank
Alert: Axis Bank denies reports about Karnataka Bank merger
MTNL - Sources
MTNL raises Rs 2,500 crore from Axis Bank at less than 7%
MTNL makes payment of Rs 6,500 crore for 3G spectrum
MTNL plans to repay loans by end of the year
Unitech - Sources

Unitech & Omkar to end JV for real estate development in Mumbai
Unitech Says
Company & Omkar were to develop 2 m sq ft in Mumbai
To continue ongoing projects with Omkar across 1 m sq ft
Not an end of relationship with Omkar
Religare Says
Estimate max impact on Unitech at 8% to current price, 5% to NAV
Bank of Rajasthan: Sources
RBI writes to BoR, asks board to keep out of merger process
RBI wants BoR management to handle merger without board intervention
Letter could probably be to limit BoR promoters' influence
BoR had formed board-level committee for merger process
Alert: BoR board has 2 members from Tayal family, 2 from RBI
F&O cues:

Futures Open Int up Rs 862 crore
Options Open Int up Rs 3147 crore
Nifty Futures add 3 lakh shares in Open Int

Nifty Futures at 30-point discount
Nifty Open Int PCR at 1.23 versus 1.20
Nifty Puts add 35 lakh shares in Open Int
Nifty Calls add 17 lakh shares in Open Int
Nifty 5000 Put adds 10 lakh shares in Open Int
Nifty 4900 Put adds 6 lakh shares in Open Int
Nifty 4800 Put adds 6 lakh shares in Open Int
Nifty 5200 Call adds 4.7 lakh shares in Open Int
Nifty 5300 Call adds 4.4 lakh shares in Open Int
Stock Futures add 3.5 crore shares in Open Int
FIIs in F&O on May 31
Net sell Rs 387 crore in Nifty Futures
Net buy Rs 1294 crore in Nifty Options

Net buy Rs 182 crore in Stock Futures
Market cues:

FIIs were net buyers of USD 103.9 million in equities May 28
NSE F&O Open Int was up by Rs 4009 crore at Rs 1.02 lakh crore
As per provisional data of May 31, FIIs were net buyers of Rs 587 crore; DIIs were net sellers of Rs 78 crore in cash markets. FIIs were net buyers of Rs 1031 crore in F&O.

European equities closed higher on Monday, led by shares of German exporters, but a downgrade of Spain's credit rating weighed on Madrid-listed stocks, with Banco Santander and BBVA losing ground.

The FTSEurofirst 300 index of top European shares unofficially closed the holiday-thin session up 0.3%, at 1,000.55 points, capping off its worst month since February 2009. The index shed 5.8% in May, hit by intensifying fears that a sovereign debt crisis in the euro zone could derail the global economic recovery.
"The fact that European stocks are not selling off today on the downgrade of Spain is a positive signal. It means that the sovereign debt risks have now been priced in," said Pierre Sabatier, president and head of strategy at PrimeView in Paris.
Fitch Ratings downgraded Spain's debt rating by one notch to AA-plus with a stable outlook after European markets closed on Friday.

Madrid's benchmark IBEX lost 0.8% on Monday, with Santander falling 0.9% and BBVA dropping 1.2%.
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