23rd Dec Morning Market Updates

23rd Dec Morning Market Updates:
Stocks that are in news today:

Tata Steel in Focus
Rio Tinto near deal on USD 3.8 billion Riversdale bid
Tata Steel holds 24% stake in company
Indian consortium lead by NMDC also looking to bid for Rivesdale
HCC in focus

Bombay HC to hold final hearing on Lavasa on January 27
MoEF counsel says Lavasa yet to give details on cut hill slopes' stabilisation
Lavasa Vs MoEF
Bombay HC says not inclined to stay MoEF status quo order
Bombay HC directs MoEF to pass order on Lavasa by January 10
Oil India announces Rs 18/share interim dividend for 2010-11
Total dividend payout at Rs 432.82 crore
RBI says
MFIs met bank loan repayment obligations till November
Repayment of loans to MFIs a big concern going forward
Banks for interim measures to tackle microfinance issues
Banks seek concessions for MFIs' loan rescheduling
Banks need to fund MFIs To 'prevent contagion'
JPC - Network18 Exclusive:
FM says govt ready to hold special session of parliament to debate JPC on floor
CNBC-TV18 alert: Govt fears budget session may be disrupted by opposition
Ex-Date
Coromandel International: 2-1 stock split
EID Parry: 2:1 stock split
Surya Pharma: 10:1 stock split
Polyplex Corporation: 1:1 bonus issue
ONGC Videsh to farm out its 100% stake in block BM-S-73 in Brazil
Petrobras to get 43.5%, Ecopetrol 13% in BM-S-73
ONGC Videsh to retain 43.5% in block BM-S-73
ONGC Videsh will remain operator of block BM-S-73
ONGC Videsh to get 43.5% from Petrobras & Ecopetrol in block BM-S-74
Petrobas, Ecopetrol to hold 43.5%, 13% in BM-S-74
Andhra Bank hikes BPLR by 25 bps to 13.25% effective Thursday
Hikes rates on some deposits by 50 bps effective Thursday
PNGRB says - NewsWire18
Have got RIL clarification on Kakinada pipeline delay
CNBC-TV18 alert: PNGRB: Petroleum & Natural Gas Regulatory Board
PNGRB says:
RIL wants to wait for more gas for new pipelines
To review RIL pipeline authorisation in project held
Other stocks and sectors that are in news today:
A2Z listing today
PTC India files DRHP with SEBI for financial arm IPO
India Infoline board meet today to consider buy back
Godrej Properties - release of 4.65 crore locked in shares
Uniphos Enterprises board meet to consider fund raising via rights issue
Shakti MetDor shares delisted on 22nd December, company will acquire outstanding shares at Rs 200/share
Supreme Holding board meet today to consider a Scheme of Arrangement between Jatia Hotels & Resorts Private Limited, Royalways Trading & Investment Services Private Limited and Supreme Holdings Ltd
ABG Infra board approves buyback at Rs 244.5/share
Nitin Fire board approves amalgamation of 100% subsidiary Company i.e. Logicon Building Systems Private Limited and Alert Fire Protection Systems P Ltd with self
F&O cues:

Total Nifty Futures' open interest was up by Rs 1626 crore
Total Options' open interest (OI) up by Rs 2556 crore
Stock Futures net shed 10 lakh shares in OI
Nifty Futures OI net addition was at 11 lakh shares in December and January
Nifty Futures premium stood at 12 points versus 14 points
Nifty Open Interest PCR was up at 1.33 from 1.27
Total Nifty Puts added 38.8 lakh shares in OI
Nifty Calls added 3.7 lakh shares in OI
Nifty December 5900 Put added 13.9 lakh shares in OI
Nifty December 6100 Call added 13.1 lakh shares in OI
Nifty December 6000 Put added 8.2 lakh shares in OI
Nifty December 6100 Put added 4.1 lakh shares in OI
Nifty January 5700 Put added 4 lakh shares in OI
Nifty January 5800 Put added 3.5 lakh shares in OI
Nifty January 6000 Put adds 2.3 lakh shares in Open Interest
FIIs in F&O
FIIs were net buyers of Rs 702 crore in Index Futures, which OI was up by 20,692 contracts on December 21
FIIs were net sellers of Rs 269 crore in Index Options, which OI up by 10,881 contracts
FIIs were net buyers of Rs 349 crore in Stock Futures, which OI up by 9,397 contracts
FIIs were net buyers to the tune of Rs 779 crore in the F&O market. Index Futures saw buying of Rs 142 crore by FIIs and they were net buyers of Rs 342 crore in Index Options.
Nifty rollover stood at 10%. Nifty 5900 Put added 9 lakh shares in Open Interest while Nifty 6000 Call added 5.6 lakh shares in Open Interest. Highest open interest (OI) was seen in 5800 Put and 6000 Call.
5800 is being seen as a firm floor. Nifty January 5800 Put added 4.6 lakh shares. FIIs were net buyers of Rs 308 crore in Stock Futures, which saw net addition of 3.15 crore shares in OI.
Fresh longs were added in Hero Honda post concall on Monday. The stock jumped nearly 18% and there was 12% jump in OI.
Long buildup was seen in Ispat Industries ahead of potential announcement. It added 8.4 million shares in OI.
Fresh longs were also seen in Shree Renuka Sugars, which saw 6% OI addition. However, fresh shorts were seen in Axis Bank, which saw 18% OI build up.
United Phosphorous added 1.6 million shares in OI. The stock lost 5%.
Hexaware Tech shot up 25% in December and added 11% in OI on Monday
US Markets:
The US markets closed modestly higher amid quiet trading. The S&P 500 index hit yet another new level since September 2008, when Lehman Brothers filed for bankruptcy.

The Dow Jones Industrial Average ended at 11,559.49, up 26.33 points; the Nasdaq Composite rose 3.87 points to settle at 2,671.48 and S&P 500 Index added 4.24 points at 1,258.84.In economic data, the third and final estimate for third quarter GDP indicated that the economy expanded at a 2.6% annual clip from july through September. The consensus had called for 2.7% growth after the previous estimate had indicated that third quarter growth totalled 2.5%.

As for personal consumption during the third quarter, it increased 2.4%. That is down from the 2.8% increase that had been reported previously.
November existing home sales increased 5.6% month over month to an annualized rate of 4.68 million units, which is on par with the 4.65 million units that had been expected.
It is going to be a data heavy day today in US as well - the initial jobless claims is expected to remain flat at the previous week's level around 420,000. Durable good order, new home sales & the consumer sentiment data will also be announced today
Bob Enck, President & CEO of Equinox Funds said, "I think the investor sentiment will be a little more positive than it has been. However we have also seen that throughout 2010 and we think the trend is going to continue that manage futures has become the number one asset class in terms of alternatives as tracked by Barclay hedge."
In the currency space, it was a quiet session for the dollar even as the the euro slid to its lowest level on concerns about the debt crisis.
In commodities meanwhile oil prices jumped above USD 90 a barrel to settle at that level for the first time in 26 months as a third straight weekly drop in US crude inventories and cold weather on both sides of the Atlantic spurred pre-holiday buying.