29 Dec Morning Market Updates

29 Dec Morning Market Updates
Stocks that are in news today:

SAT sets aside SEBI order against Bhushan group companies
SEBI had fined cos for violation of takeover rules
Case related to acquisition of Orissa Sponge Iron & Steel
SAT allows appeal of Bhushan Group companies
Mindtree says

Expect to merge wireless business with self shortly
MindTree to realize additional operational synergies post merger
Decided to restructure wireless business as design service
Restructuring costs between USD 3.6-3.9 million
Restructuring costs will be added to P&L account for the quarter
IRDA
IRDA gives regulatory nod to 2 insurance JVs
IRDA gives R1 approval to Edelweiss Tokio Marine Life Insurance JV
IRDA gives R1 approval to Religare-Union Bank Health Insurance JV
Other stocks and sectors that are in news today:
M&M faces USD 290 million law suit by Reva ally in New York – DNA
Finance Ministry plans fast track sale of PFC and Rashtriya Ispat Nigam to make up for shortfall in disinvestment target – ET
China’s largest govt owned energy firm CNPC has approached ONGC for alliance to access India’s oil and gas assets – ET
US firm buys 60% stake in Nitin Fire Protection subsidiary for USD 21 million – PTI
Indian Hotels 10% stake in International hotel chain Orient Express Hotels valued at half the price they invested in 2007 – BS
Gitanjali plans to raise USD 100 million by diluting 10% stake, company also announced acquiring 90% stake in Italian firm – BS
ABG Infra Logistics buy back at Rs 244.5/sh, opens on January 31, closes on February 14
Punjab and Sind Bank IPO lists on December 30
Securities in F&O ban: ABG Shipyard, Core Projects, Kingfisher Airlines, Orchid Chemical, Suzlon
Maytas Infra - in JV with Gayati Projects bags a contract worth Rs 1130.6 crore from Nagaland Govt
State Bank of Travancore - approved the augmentation of Rs 500 crore (including premium) of capital through Rights Issue.
Genesys International board meet today to consider fund raising upto Rs 350 crore
Pradeep Metals board meet today to consider issue of securities/warrants to promoters
Sharda Ispat - ex scheme of arrangement
Chartered Logistics board approved bonus of 1:1
F&O cues:

Total Nifty futures up Rs 1287 crore, Options up Rs 884 crore
Stock futures net add 13 lakh shares in Open Int

Nifty Fut Open Int net add 5.8 lakh shares in Open Int in Dec + Jan; Nifty futures prem at 18 pts versus 25 pts
Nifty Open Int PCR up at 1.46 from 1.41
Total Put add 18 lakh shares in Open Int, Call shed 3.8 lakh shares in Open Int
Highest Open Int outstanding at 6100 call, 5900 put, 5800 put for Dec series
Nifty Jan 6000 put add 7.5 lakh shares in Open Int
Nifty Jan 5500 put add 3.6 lakh shares in Open Int
Nifty Jan 6200 call add 2 lakh shares in Open Int
Nifty Dec 6000 call add 3.4 lakh shares in Open Int
FIIs in F&O on Dec 28
FIIs net sell Rs 218.4 crore in Index Futures; Open Int up by 16089 contracts
FIIs net buy Rs 783 crore in Index Options; Open Int up by 36957 contracts
FIIs net sell Rs 375 crore in Stock Futures; Open Int up by 7645 contracts
Market cues:

NSE F&O Open Int was up Rs 2,170 crore at Rs 1.62 lakh crore
FIIs net buy USD 59 million in the cash market on Dec 27

MF net sell Rs 125 crore in the cash market on Dec 24
Nifty rollover at 34%
As per provisional data of December 28, FIIs were net buyers of Rs 109 crore in the cash market. FIIs were net buyers of Rs 181 crore in the F&O market. DIIs were net sellers of Rs 265 crore in the cash market.
US Markets:
In the US markets, some modest buying helped both the Dow and S&P 500 set fractionally improved two-year highs, but the lack of conviction among market participants proved apparent as the major equity averages ultimately finished mixed. Data was not encouraging either.

Dow Jones Industrial Average was up 0.18% or 20.51 points at 11575.54. Nasdaq Composite was down 0.16% or 4.39 points at 2662.88. Standard & Poor's 500 was up 0.08% or 0.97 points at 1258.51.
Economic data did not have any real effect on the mood of market participants, but here is a look at the latest dose from US. The conference board's December consumer confidence index fell to 52.5 from 54.3 in the prior month. The latest tally was also below the 56.1 that had been expected.

Discouraging news from the housing space as well- the Standard & Poor's Case-Shiller price index fell in October from September as home prices continued to fall broadly.
In the currency space- the dollar slipped amidst choppy trade but a surprise decline in US consumer confidence this month however, helped the greenback recover losses against the euro.
In the commodity space- oil prices rose clawing back much of Monday's loss and settling within striking distance of a 24-month high struck in the previous session.
In the base metal space copper prices fell marginally in New York trade after rising to record level on supply concerns.