27th Dec Morning Market Updates

27th Dec Morning Market Updates:
Stocks that are in news today:

Patni Promoters Offer Bidders Option to Revise Financial Bids
Patni Promoters Likely To Invite Fresh Bids For Stake Sale Today
Patni Promoters Likely To Open Bidding By 26th Dec
Bidding Likely To Close By 27th December
Patni Promoters Open To Price Of Rs 560/ Share (CMP 489)
Patni Promoters Demand Non Compete Fee From Bidders
iGate, Carlyle, Fujitsu Among Bidders
iGate Highest Bidder For Stake So Far
Alert: Patni Promoters, GA Seek To Exit Company
Alert: Patni Family Owns 48.6%, GA Owns 16%
CNBC-TV18 Was First To Report That iGate Is Likely Frontrunner
Oil Secy :: Says

Not The Right Time For Diesel :: Price Deregulation
Current Under-recoveries On :: Diesel Above `5/L
Diesel Deregulation Depends :: On Crude Price Moderation
Kingfisher Airlines 7 Airbus Aircraft Still Grounded
Losses Of Approx $80-100m On Account Of Grounded Aircraft
KF To re-start Grounded Aircraft By FY11-end
Alert: Airbus Aircrafts grounded over dispute with IAE
IAE is engine manufacturer of Airbus Aircraft
Resolved all issues with Engine Manufacturer IAE
KF To Launch $300m GDR In Jan/Feb 2011
GDR To Be Launched Post Conversion OF Debt Into Equity
Conversion & GDR To Happen Together In Jan/Feb 2011
To convert approx Rs 1400 cr of Bank debt into equity
Total debt around Rs 7000 Cr;, Bank Debt At Rs 4500 Cr
Promoters Stake To Go Down From 66% To Mid 40s Post GDR
Orissa CM meets Jairam Ramesh on Vedanta
Orissa CM asks Environ Min To Reconsider Mining Ban
Ban on JSPL's Pending Projects Also discussed
Orissa CM Meets Mines Minister On Vendanta
Orissa CM keen To Push Vedanta's Lanjigarh Project
Alert: Orissa Had Written To MoEF On Forest Land For Lanjigarh Mines
Future trading in sugars to start today after a gap of 19 months
Other stocks and sectors in the news
GMR Infra Arm In Pact To Buy :: 51% In Kakinada SEZ
Jupiter Bioscience: bd approves raising upto $100 m via preferential issue, QIP, FCCB'S, ADR's, GDR's, etc, pref allotment of warrants to the promoter and increase in authorised share capital from Rs. 70 cr to Rs. 150 cr
Securities in FNO ban today: ABG Shipyrad, Core Proj, Kinffisher, Suzlon
Shekhawati Poly-Yarn IPO to open today to raise Rs. 36 cr, comprising of 54.54% of the company’s post issue paid-up capital
Ravi Distelleries to list today; was subscribed 2.12 times ((raised 73.6 cr))
RCF doing due diligence to acquire 25% stake in a rock phosphate Russian fert maker, Acron for $366 m: BS
BF Utilities: board approved FDI investment of Rs 500 cr in NECE (Nandi Economic Corridor Enterprises) via equity and convertible debentures ((mkt talking abt 8% dilution – if this is true – that will mean NECE valuation of Rs 6250 cr Vs co’s m-cap of Rs 3,180 cr))…remember stock up 20% on Friday
DLF pays Rs 145 cr to settle disputes, paving way for strategic investors in Aman Resorts: ET
F&O cues:

Total Nifty Futures up Rs 1024 crore
Total Options up Rs 1422 crore

Stock Futures net add 1.7 cr shares in Open Int
Nifty Fut Open Int net shed 2 lakh shares in Dec + Jan
Nifty Futures prem unchanged at 25 pts
Nifty Open Int PCR up at 1.41 from 1.35
Total Puts add 29.5 lakh shares in Open Int
Total Calls shed 6.8 shares in Open Int
Highest Open Int outstanding at 6100 Call, 5800 & 6000 Put for Dec
Nifty Dec 6000 Put adds 18.4 lakh shares in Open Int
Nifty Jan 6000 Put adds 7.8 lakh shares in Open Int
Nifty Jan 6100 Call adds 5 lakh shares in Open Int
Nifty Dec 6100 Put adds 3.8 lakh shares in Open Int
Nifty Jan 6200 Call adds 3.5 lakh shares in Open Int
Nifty Dec 6000 Call sheds 9.5 lakh shares in Open Int
FIIs in F&O on Dec 24
FIIs net buy Rs 587 crore in Index Futures
Index Futures Open Int down by 10,991 contracts
FIIs net buy Rs 1026.5 crore in Index Options
Index Options Open Int up by 22,273 contracts
FIIs net sell Rs 373 crore in Stock Futures
Stock Futures Open Int up by 5,591 contracts
Market cues:

NSE F&O Open Int was up Rs 2,446 crore at Rs 1.60 lakh crore
FIIs net sell USD 22.18 million in cash market on Dec 23

FIIs net sell USD 308 million in cash market (MTD)
FIIs net buy USD 28.6 billion in cash markets (YTD)
Nifty rollover at 24%
China Rate Hikes
China ups interest rates by 25 bps 5.81%
2nd time in over 2 mths
Consumer prices up most in 28 mths
US markets were shut on Friday for Christmas
As per provisional data of December 24, FIIs were net buyers of Rs 14.8 crore in cash
market. FIIs were net buyers of Rs 1,236 crore in F&O market. DIIs were net sellers of Rs 297 crore in cash market
US Market:
Investors kept an upbeat outlook in light preholiday trade on Thursday as data buttressed views of steady economic growth, with stocks on track for a fourth straight week of gains.

New home sales and prices edged up in November, while consumer sentiment rose in December to its highest level since June, reports showed.
Banking shares lagged as investors booked profits after a month-long rally that has boosted the KBW Bank index by about 15% for December.

The index eased 1% on Thursday, as Bank of America Corp lost 2.5% to USD 13.04 and JPMorgan Chase & Co fell 0.6% to USD 41.90.
With investor optimism running high and the S&P's relative strength index pointing to an overbought condition in the short term, the market could be in for a pullback, but investors weren't too concerned.
Keith Springer, president of Springer Financial Advisors in Sacramento, California, said the market is likely to trade sideways, rather than fall dramatically.
"A sideways move can work off an overbought condition," said Springer. "Just the fact that it slows down and moves sideways is almost a corrective pattern for the stock market."
The Dow Jones industrial average edged down 10.67 points, or 0.09%, at 11,548.82. The Standard & Poor's 500 Index dipped 4.36 points, or 0.35%, to 1,254.48. The Nasdaq Composite Index eased 9.41 points, or 0.35%, to 2,662.07.
The latest American Association of Individual Investors' survey found bullish sentiment rose 13.1 percentage points to 63.3%, as of December 23, a six-year high.
The S&P 500 rose Wednesday to its highest level since the collapse of Lehman Brothers more than two years ago.
Volume was light Thursday as Wall Street prepared for a break on Friday for the Christmas holiday.
Resource shares led the way up as the price of oil rose to a more than two-year high above USD 91 a barrel. Chevron Corp rose 0.6% to USD 90.48.
Retail stocks got a boost as Bed Bath & Beyond Inc rose 5.2% to USD 50.13 after topping profit estimates and forecasting a strong holiday season.
Fabric and crafts retailer Jo-Ann Stores Inc surged 32% to USD 60.22 after it agreed to a buyout by private equity firm Leonard Green & Partners for USD 61 per share.
The Morgan Stanley Retail index gained 0.4%.
Top US memory chip maker Micron Technology Inc weighed on the Nasdaq. Its shares fell 3.7% to USD 7.97 one day after it forecast lower pricing for NAND chips, which are used in smartphones and tablet computers.
Motorola Inc spinoff Motorola Mobility Holdings Inc will replace Meredith Corp in the S&P 500 index after the close on January 3, Standard & Poor's said. Meredith shares dipped 1.2% to USD 35.39.
In other data, jobless claims dipped but indicated that unemployment will stay high, consumer spending rose for a fifth month, and durable goods orders recorded their biggest increase since March