2nd June Morning Market Updates:

2nd June Morning Market Updates:
Stocks that are in news today:

Tata Motors May Sales (YoY)
May domestic sales at 52,801 units versus 38,392 units
May total exports at 3,978 units versus 1,804 units
Total sales up 41% at 56779 versus 40196 units
Kingfisher Airlines
Kingfisher Airlines looking to raise at least USD 250 million by end of Q2
GDR, rights issue, combination of both being considered
KFA in process of cleaning up balance sheet
KFA has written of Rs 650 crore of exceptional items
Exceptional items largely debt of erstwhile Deccan
Cement sales

JP Associates May cement sales up 63% at 1.32 mt versus 0.8 mt
AV Birla Group May cement sales at 3.35 mt, up 5.59% YoY
Shree Cement May cement sales up 15.1% at 8.46 lakh tonne (YoY)
RIL
RIL not to sign GSPA till govt allocates gas to ADAG
RIL, RNRL may first sign GSMA
RIL-RNRL GSMA will be subject to govt approval
Other stocks and sectors that are in news today:
Jayaswal Neco board approves demerger of steel business of Corporate Ispat Alloys and its merger with self; to issue 3 shares of company to every 2 of CIAL
GVK Power bags highway project worth Rs 850 crore
Yogesh Munjal who holds 29% stake in Hero Honda likely to quit Hero for Showa (ET)
MIDC plans JV with GAIL for gas distribution would tap Gail's trunk pipeline between Tarapur in Mumbai & Dabhol in Ratnagiri (ET)
Bank of Ireland shortlists IBM, HCL for USD 600 million outsourcing deal (ET)
Axis Bank lowers deposit rates by 25-50 basis points (BS)
REC aims to raise USD 70 million through an offshore loan by July to finance projects (Mint)
F&O cues:

Futures Open Int up Rs 773 crore
Options Open Int up Rs 4196 crore
Nifty Futures add 23 lakh shares in Open Int

Nifty Futures at 26-point discount
Nifty Open Int PCR at 1.25 versus 1.23
Nifty IVs high at 28-30%, VIX up 9% at 29.08
Nifty Puts add 48 lakh shares in Open Int
Nifty Calls add 29 lakh shares in Open Int
Nifty 4300 Put adds 11 lakh shares in Open Int
Nifty 4400 Put adds 10 lakh shares in Open Int
Nifty 5000 Call adds 8.8 lakh shares in Open Int
Stock Futures add 0.44 cr shares in Open Int
FIIs in F&O on June 1
Net sell Rs 902 crore in Nifty Futures
Net buy Rs 1388 crore in Nifty Options
Market cues:

US markets ended weak
Europe recovered most of the losses
Asian markets open on a mixed note

FIIs were net buyers of USD 172.4 million in equities on May 31
NSE F&O Open Int was up Rs 4969 crore at Rs 1.07 lakh crore
As per provisional data of June 1, FIIs were net sellers of Rs 526 crore, while DIIs were net buyers of Rs 211 crore in cash markets. FIIs were net buyers of Rs 426 crore in F&O.
US Markets:
In the US markets, the Dow shed more than 100 points after a late selloff in trade. After an extended weekend, markets opened trade on a weak note dragged down by worries about the state of finances in Europe and concerns about global growth with weaker-than-expected monthly manufacturing data from China. However, the market chose to ignore some positive economic data in the form of the manufacturing and construction activity.

Energy stocks were among the biggest decliners after BP's latest effort to cap the gulf oil spill failed, prompting worries about future profits in the sector. US -traded shares of BP fell 15%. Meanwhile, Alcoa was the biggest drag on the Dow.
Trading volume too was slightly more than average, with 1.4 billion shares changing hands on the New York Stock Exchange. Decliners outpaced advancers, nearly 4 to 1.
At closing bell, the Dow closed 112 points lower at 10,024, the S&P 500 shuts shop nearly 2% down at 1,070. While the Nasdaq closed 35 points down at 2,222.

In economic data, the ISM reported its manufacturing index dropped to 59.7 in May from 60.4 in April, but remained in growth mode for a 10th straight month and beat expectations.
A separate report showed construction activity rose the most in nearly a decade. Construction rose 2.7% in April and the prior month was revised upward to a 0.4-percent increase from 0.2%.
In the forex market, the euro has recovered from a four-year low, but continues to trade around the 1.22 mark on signs that the euro zone's debt crisis is spreading to its banking system.
In commodities, crude prices fell nearly 2% in choppy trade as the euro slid and Chinese and european data raised concerns about the global economy. BP's failure to halt the flow of oil from its damaged well in the gulf of Mexico also was a key dampener for crude. Currently it is trading at USD 72.83 per barrel.
In base metals, copper fell to a one-week low on concern that demand will slow in China. Other metals like nickel and aluminium also are trading weak.
In precious metals, gold prices rose to a two week high on increased investor demand
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