2nd August 2010 morning Market Updates

2nd August  2010 morning Market Updates
Stocks that are in news today:
Results today: GAIL India, Glaxosmithkline Consumer, Gokaldas Exports, Gulf Oil Corp, India Cements, Madras Cements, Nestle India, Zenith Birla
Bajaj Corp IPO opens today: issue of 45 lakh shares at Rs 630-650/share
Auto sales numbers
Bajaj Auto: Total July sales up 65% at 3.18 lakh versus 1.92 lakh (YoY)
Tata Motors: Total July sales up 41% at 67799 versus 48054 units (YoY)
TVS Motor: Total July 2 wheeler sales up 35% at 1.63 lakh units
Deposit rates
Union Bank ups deposit rates by 25-100 bps w.e.f. August 4
PNB increases term deposit rates by up to 75 basis points
Bank of Baroda to up deposit rates by 25-50 bps from August 2
Other stocks and sectors that are in news today:
Indiabulls Real Estate wins NTC's Poddar Mill Auction for about Rs 474 cr (works out to around Rs 25,000/sq ft of saleable area)
Engineers India FPO overall subscribed 13.26 times (x); QIB 23,43x, retail 2.71x, HNI 5.85x
Kavveri Telecom - To issue of 40 lakh equity shares on prefrential basis to promoters
Maytas Infra : Alloted 1.54 crore shares to M/s. SBG Projects Investments Ltd @ Rs 195.3/share
Andhra Cements :Approved allotment of shares up to Rs 18.6 crore to HDFC & IDFC ((on conversion of Obligation))
Karnataka Bank: Approves rights issue ratio of 2:5
Religare : Approves funds raising upto Rs 2000 crore through issue of capital
ICICI Bank Q1 (cr - crore, vs - versus)
PAT Up 16.85% from Rs 878.22 crore to Rs 1026 crore (Estimates Rs 1027.7 crore)
NII Up 0.29% from Rs 1985.26 crore to Rs 1991 crore (Estimates Rs 2027.69 crore)
Torrent Power Q1:
Cons Net Sales At Rs 1,783.4 cr Vs Rs 1,704 cr (QoQ)
Cons Net Profit At Rs 299.2 cr Vs Rs 287.5 cr (QoQ)
Bank of India Q1
PAT Up 24.09% from Rs 584.32 crore to Rs 725.13 crore (Estimates Rs 466.78 crore)
NII Up 33.82% from Rs 1300.6 crore to Rs 1740.47 crore (Estimates: Rs 1530.58 crore)
F&O cues:

Futures Open Int up by Rs 1787 crore
Options Open Int up by Rs 7143 crore

Nifty Futures add 16 lakh shares in Open Int
Nifty Futures at 7-point premium
Nifty Open Int PCR at 1.25 versus 1.28
Nifty Puts, Calls add 54 lk shrs each in Open Int
Nifty 4900 Put adds 10.5 lakh shares in Open Int
Nifty 5300 Put adds 8.9 lakh shares in Open Int
Nifty 5200 Put adds 6 lakh shares in Open Int
Nifty 5600 Call adds 11 lakh shares in Open Int
Nifty 5400 Call adds 8.5 lakh shares in Open Int
Nifty 5500 Call adds 8.3 lakh shares in Open Int
Stock Futures add 4.4 crore shares in Open Int
FIIs in F&O on July 30

Net sell Rs 424 crore in Nifty Futures
Net buy Rs 2364 crore in Nifty Options
Market cues:

FIIs were net buyers of USD 952 million in equities on July 30
NSE F&O Open Int was up by Rs 8930 crore at Rs 1.19 lakh crore

As per provisional data of July 30, FIIs were net buyers of Rs 211 crore; DIIs were net sellers of Rs 130 crore in cash markets. FIIs were net buyers of Rs 1866 crore in F&O.
US Markets:
US stocks closed little changed on Friday, but Wall Street wrapped up its best month in a year after the earnings season rounded the final turn with a group of strong results that offset the impact of poor economic data.

While the major indexes each posted 7% gains for the month, it came during low volume and followed a combined decline of nearly 14% for May and June.
Wall Street marks best month in a year in July

The conflict between strong earnings and lackluster economic news has held stocks in a tight range throughout July. Prior to Friday's open, second-quarter GDP data disappointed investors, even though shares came back later in the session.
A lack of clear direction has led to more technical trading, with the S&P 500 finding support around 1,100 while struggling to move above its 200-day moving average around 1,115. A sustained move above that level would be bullish for investors.
"We have failed up here essentially about three times, so technically people are using that as something to lean on the short side," said Nick Kalivas, vice president of financial research and senior equity index analyst at MF Global.
Kalivas said global purchasing managers' indexes at the start of next week will give investors a better idea about the direction of the economy and could be a catalyst for markets.
"The market kind of stalled up the last couple of days. On the surface earnings numbers have been pretty strong, but underneath there was a loss of momentum," he said.
Speculators are net short the S&P 500, according to Commodity Futures Trading Commission data but trimmed their short portions from a week earlier.
The Dow Jones Industrial Average dropped 1.22 points, or 0.01%, to 10,465.94. The Standard & Poor's 500 Index gained 0.05 points, or 0.00%, to 1,101.58. The Nasdaq Composite Index gained 3.01 points, or 0.13%, to 2,254.70.
For July the Dow rose 7.1%, the S&P 500 gained 6.9% and the Nasdaq added 6.9%.
For the week, the Dow rose 0.4%, the S&P 500 lost 0.1% and the Nasdaq dipped 0.7%.
In corporate news, Chevron Corp, the second-largest US oil company, reported a three-fold jump in quarterly profit, topping Wall Street's forecast, but its revenue was below analysts' estimate. The shares rose 0.2% at USD 76.21.
US drugmaker Merck & Co reported a profit that beat analysts' estimates, but its sales were less than Wall Street's expectations, and the stock fell 1.7% to USD 34.46.
In the Commerce Department's first estimate of economic growth for the second quarter, US GDP expanded at a 2.4% annual rate, driven by capital investment, but the expansion was down from the first quarter's revised 3.7% rise.
US consumer sentiment plunged in July to its lowest level since November on bleak prospects for jobs and income a year since the economic recovery began, according to the Thomson Reuters/University of Michigan's Surveys of Consumers.
The Institute for Supply Management-Chicago business barometer, however, showed businesses boosted employment and orders.
About 7.63 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, short of last year's estimated daily average of 9.65 billion.
Advancing stocks outnumbered declining ones on the NYSE by a ratio of about 3 to 2, while on the Nasdaq, about five stocks rose for every four that fell.