4th August Morning Market Updates:

4th August Morning Market Updates:
Stocks that are in news today:

Results today: IDFC, Adani Power, GMR Inds, Mundra Port, Standard Chartered, IL&FS Transportation, ITI, Future Capital Holding, Technocraft Inds, Bombay Rayon Fashion, Aftek
IT stocks on focus, Cognizant reports stellar numbers, ups guidance significantly; stock surged 5%

Cognizant’s CY'Q2 2010
Revenue at USD 1.105 billion, (up 15% QoQ)
Net profit up USD 172.2 million, (up 13.7% QoQ)
Ups FY10 revenue guidance growth to 36% at USD 4.46 bn (earlier guidance was 25%, so a quantum jump)
Punj Lloyd Q1FY11
Consolidated net loss at Rs 30.6 crore versus profit of Rs 127 crore (YoY)
Consolidated net sales at Rs 1,606 crore versus Rs 2,953 crore (YoY)
Jagran Prakashan - Sources
INM likely to sell 6.5% equity in Jagran Prakashan today
INM: Independent News & Media Investments
Deal size over Rs 200 crore; I-Sec banker
NDTV Q1 ((Consolidated))
Sales at Rs 83.56 crore versus Rs 130.69 crore (YoY)
Loss at Rs 31.1 crore versus Rs 83 crore (YoY)
Nadir Godrej says
Godrej Industries in early stages of acquisitions in niche areas
Marginal price hike likely in palm oil, palm oil derivatives
Will consider price hike in durable goods
Price hike in FY11 will be marginal
Other stocks and sectors that are in news today:
Listing of Orissa Mineral Development Company on Exchanges (Already listed on Calcutta Stock Exchange @ Rs.19500/share)
Listing of Midfield Industries on exchanges (Issue Price: Rs 133/share)
RIL, Essar to bid for BP’s USD 500 million assets
Borosil Glass sells Andheri plot for Rs 875 crore – TOI
F&O cues:

Futures Open Int up Rs 1967 crore.
Bazaar

Excerpts from Bazaar on CNBC-TV18 Watch the full show »
Options Open Int up Rs 4671 crore
Nifty Futures add 14 lakh shares in Open Int
Nifty Futures at 2-point discount
Nifty Open Int PCR at 1.28 versus 1.25
Nifty Puts add 46 lakh shares in Open Int
Nifty Calls add 24 lakh shares in Open Int
Nifty 5100 Put adds 12 lakh shares in Open Int
Nifty 5400 Put adds 10 lakh shares in Open Int
Nifty 5500 Call adds 7 lakh shares in Open Int
Stock Futures add 2.7 crore shares in Open Int
FIIs in F&O on August 3
Net buy Rs 249 crore in Nifty futures, Open Int unchanged
Net buy Rs 704 crore in Nifty options, Open Int up 1.08 lakh contracts
Net buy Rs 406 crore in Stock futures, Open Int up 12,173 contracts
Market cues:

US markets end down marginally
FIIs were net buyers of USD 187.1 million in equities on August 2

NSE F&O Open Int was up by Rs 6638 crore at Rs 1.34 lakh crore
As per provisional data of August 3, FIIs were net buyers of Rs 607 crore; DIIs were net sellers of Rs 152 crore in cash markets. FIIs were net buyers of Rs 1463 crore in F&O.
US Markets:
The US markets ended in the red but off intra-session lows after a round of disappointing economic data.

Dow Jones Industrial Average was down 0.36% or 38 points at 10636.38. Nasdaq Composite was down 0.52% or 11.84 points at 2283.52. Standard & Poor's 500 was down 0.48% or 5.4 points at 1120.46.


The markets reacted to a host of not so encouraging economic data; pending home sales for June fell 2.6% month-over-month. Though that was less severe than the 5.0% decrease that had been expected, many on Wall Street had anticipated an increase.

As for other data, factory orders for June fell a worse-than-expected 1.2%, while orders for May were revised lower to reflect a 1.8% decline. Personal income, spending, and core personal consumption were flat in June. While income wasn't expected to change, a slight increase in spending had been anticipated.
In data to watch out for today the ISM non-mfg index for July is seen higher; estimates suggest the index coming in at 53 compared to 53.8 in June. The June number was the lowest reading since February.
The US energy information administration will also be releasing weekly petroleum inventories data. Crude inventories are expected to have fallen last week as imports slipped and the effect of Gulf of Mexico production was interrupted briefly by tropical storm Bonnie.
In the currency space, the dollar tumbled to multi-month lows on fears of economic recovery. As a result, the euro climbed to a three-month high.
In commodity space, crude surged to three month high above USD 82 as the dollar weakened. The API stockpile data indicated a drop. All eyes are now on the US govt's EIA numbers that's due to be released later today.