13 Dec 2010 Morning Market Updates:

13 Dec 2010 Morning Market Updates:
Stocks that are in news today:
SEBI plans to made mandatory for co to disclose more when they do off market deals – ET
Reckitt Benckiser may snap up Paras Pharma – ET (Emami is also in the race)
Shiv Nadar, Chairman & Founder, HCL Corporation Says:
Will Continue To Divest Promoter Stake To Shiv Nadar Foundation
Plan To Divest More Than 10% Of Promoter Holding
Promoter Holding Will Be Divested In The Next Few Years
Cipla to CNBC TV18 regarding Overpricing of Drugs
In 2003 co received a notice of demand from the NPPA
On A/c of overcharging certain drugs under Drug Price Control Order
Co has been legally advised on the basis of these orders
No Provision is considered necessary in respect to Rs 1158 cr for period of July 1995-April 2009
HCL Infosystems CEO Says:
Seeking Acquisition Between $50-$100 Mn
Seeking Growth In Emerging Markets
QIP Money of Rs 800 Cr To Be Used For Expansion
Infosys CEO, S Gopalakrishnan:
Will Spend 10% Of Revenus On Acqusition
Aim To Spend $500 Mn On Acquisition
Actively Looking For Acqusition Across Sectors
Industry May Grow More Than 15%
Uncertainies From Europe Still A Cause For Concern
Ruchi Strips bd meet on 14th
1. Incorporation of wholly owned subsidiary,
2. Transfer of steel division, sale of land.
F&O cues:
Total Nifty futures down Rs 123 cr; Options down Rs 1827 crore
Stock futures shed 2.15 cr shares in Open Int
Nifty Fut OI shed 19 lakh shares in Open Int
Nifty futures prem at 22 pts prem versus 14 pts prem
Nifty Open Int PCR up at 1.13 versus 1.05
Total Put add 8.2 lakh shares in OI, Call shed 44 lakl shares in Open Int
Nifty 5800 put add 8.2 lakh shares in Open Int
Nifty 5700 put add 7.2 lakh shares in Open Int
Nifty 6000 call shed 20.8 lakh shares in Open Int
Nifty 5900 call shed 15.6 lakh shares in Open Int
Nifty 6000 put shed 11.1 lakh shares in Open Int
Nifty 6100 put shed 5.5 lakh shares in Open Int
Nifty 6200 call shed 5.2 lakh shares in Open Int
FIIs in F&O on Dec 10
FIIs net buy Rs 812 cr in Index Futures; Open Int down by 13,494 contracts
FIIs net sell Rs 1006 cr in Index Options; Open Int down by 13,107 contracts
FIIs net sell Rs 91 cr in Stock Futures; Open Int up by 2 contracts
Market cues:
NSE F&O Open Int down Rs 1950 cr at Rs 1.40 lakh cr
MFs net buy Rs 149.6 million in the cash market on Dec 09
As per provisional data of December 10, FIIs were net sellers of Rs 1239 crore in the cash market. FIIs were net buyers of Rs 820 crore in the F&O market. DIIs were net buyers of Rs 747 crore in the cash market.
US Markets:
US stocks rose on Friday and were on track for a second week of gains following upbeat economic data on consumer sentiment and trade, while bulls were encouraged as the S&P 500 held above a key technical level.
Industrial shares led the pack, with General Electric up more than 3% after it raised its dividend for a second time this year.
After the S&P 500 ended on Thursday above 1,228, the closely watched 61.8% retracement of its drop from late 2007 to March 2009, the benchmark index managed to hold above that key resistance level for a second day. It also hit its highest level since the week when Lehman Brothers collapsed in 2008.
"That met some pretty significant resistance so closing above there and staying above there is a pretty good sign," said Art Hogan, chief market analyst at Jefferies & Co in Boston.
The S&P 500 tried and failed to breach 1,228 back in April and later in early November, with both attempts followed by steep declines.
The Dow Jones industrial average gained 18.24 points, or 0.16%, to 11,388.30. The Standard & Poor's 500 Index rose 5.61 points, or 0.45%, to 1,238.61. The Nasdaq Composite Index added 18.36 points, or 0.70%, to 2,635.03
The Nasdaq Composite, buoyed by a 2.2% gain in shares of Oracle Corp (ORCL.O), hit its highest level since December 2007. Oracle was at USD 29.92 in late afternoon trade.
In the latest signs of improvement in the US economic recovery, data showed consumer sentiment rose more than expected in early December, according to the Thomson Reuters/University of Michigan survey, while import prices in November climbed at their fastest pace in a year. Another positive signal came from the Commerce Department, which said the US trade deficit narrowed much more than expected in October.
Overseas news helped boost equities, after a slew of data showed China's imports and exports jumped in November, bank lending topped forecasts and property investment powered ahead. China increased reserve requirements for banks but kept interest rates on hold.
GE jumped 3.3% to USD 17.69 after the company said quarterly payments to shareholders will increase by 2 cents to 14 cents per share.
Shares of Netflix Inc (NFLX.O) rose after Standard & Poor's said the company, along with F5 Networks Inc (FFIV.O), Newfield Exploration Co (NFX.N) and Cablevision Systems Corp (CVC.N) will be added to the S&P 500 index after trading closes next Friday.
Netflix added 1.7% to USD 194.37, Cablevision jumped 3.8% to USD 34.64, Newfield gained 3.1% to USD 72.23 and F5 Networks rose 2.5% to USD 142.50.