8 Dec 2010 Daily recommendations

8 Dec 2010 Morning Market Updates  08:55
Intraday Nifty Fut Buy abv 6045 sl 5996 T 6110/6134

Nifty Fut strong support 5940
Buy Acc sl 1002 T 1022
Buy Bajajhind Abv 115 sl 112 T 123
Buy BEML Abv 1040 sl 1015 T 1080 P
Buy Bhel Abv 2248(close) sl 2215 T 2280 P
Buy Finantech Abv 931 sl 900 T 981 P
Buy LT sl 2005 T 2044
Buy Powergrid Abv 100 Close sl 98.5 T 105
Buy Relinfra Abv 847 sl 831 T 881 P
Buy Unitech Abv 67 sl 65 T 71


Sell Auropharma Bel 1251 sl 1268 T 1232
Sell Bharatforg Bel 377 sl 386 T 368
Sell Cumminsind sl 775 T 757
Sell Ranbaxy sl 566 T 548
Sell Yesbank sl 317 T 303
Stocks that are in news today:

A2Z Maintenance & Engineering Services IPO
IPO opens on December 08, closes on December 10
Price Band: Rs 400-410; Offer to raise: Rs 860 crore
Raises Rs 125 crore from anchor book
Ravikumar Distilleries IPO

IPO opens on December 08, closes on December 10
Price band of Rs 56-64; offer to raise Rs Rs 64.4- 73.6 crore
Public issues
MOIL issue priced at Rs 375/sh
Claris Life Issue priced at Rs 228/sh
Punjab and Sind bank IPO opens on December 13, closes on December 16, issue price Rs 113-120/share
PNB hikes deposit rates by 50-100 bps w.e.f. Wednesday
PNB hikes BPLR by 75 bps to 12.50% w.e.f. Wednesday
PNB says peak rate for retail deposits now 8.5%
Wipro bags USD 50 million, 3-year order from Vodafone
Wipro to provide fixed line enterprise biz for Vodafone
Current pictorial warnings on cigarette packs to continue: Govt sources say
Review of current pictorial warnings next December
CNBC-TV18 alert: Cabinet decides on pictorial warnings on cigarette packs
Spice acquires NewTel Corp
CNBC-TV18 alert: NewTel Thailand's 2nd largest mobile handset player
Cabinet okays petroleum chemicals, petrochem region in Orissa
Govt says: See investment of Rs 2.77 lakh crore in Orissa Petchem Region
Finance Ministry review
Need regulation to ensure MFI lending terms are transparent
Need clear guidelines on method of recovery by MFIs
Lending agents often mis- represent int rate to borrower
Borrowers deluded about simple & compound interest rates
People borrow under terms they would have never accepted
Must ensure no ambiguity in MFI-borrower contracts
Must not regulate MFI out of existence
MFI credit has saved lives of poor people
Need to weigh pros & cons of MFI before deciding future
CNBC-TV18 alert: Fin Min tables mid-year economic analysis in parliament
Other stocks and sectors that are in news today:
Oil subsidies to be phased out in 3-4 years, India agreed at G20 summit – FE
ONGC board to meet on December 16 to consider bonus issue, stock split, special dividend
State Bank of Bikaner and Jaipur board meet on December 10 to approve Draft Letter of Offer, for raising equity share capital upto Rs 800 crore by way of Rights Issue.
LIC Housing Finance, PNB, Bank of India and Central Bank combined have Rs 20,000 crore exposure to 19 firms embroiled in the loan scandal – FE
Securities in F&O ban: Ispat, Kingfisher, SCI
eClerx Services board meet on December 16 to consider a proposal to raise Long Term Financial Resources and
Karuturi Global to pick up 54% stake in Florisia, chain of floral designing boutique stores in India
Competition Commission of India ruled on Tuesday that Banks can charge foreclosure fees – ET
Jet Airways, Air India ink USD 5 billion deal for 35 airbus aircraft – ET
SC bans tobacco products in plastic bags
NTPC may buy 74% stake in Bengal project – ET
Paint Co hike prices by 2-5% as input costs soars – ET
Weizmann: goes ex scheme of arrangement today
Auto fuel set to rise by Rs 2/litre as crude hits USD 90/barrel – ET (BPCL said the same thing in the interview yesterday)
Uflex CMD Ashok Chaturvedi found guilty in his individual capacity in Noida Land scam
Gujarat Foils not to pursue EOI to GMDC for setting up Alumina Refinery in Kutch
F&O cues:

Total Nifty Futures down Rs 280 crore
Total Nifty Options up Rs 1299 crore

Stock Futures add 1.8 cr shares in Open Int
Nifty Fut Open Int shed 10 lakh shares in Open Int
Nifty Fut prem at 33-pts prem versus 10-pts prem
Nifty Open Int PCR down at 1.21 from 1.22
Nifty Puts add 3.7 lakh shares in Open Int
Nifty Calls add 9.8 lakh shares in Open Int
Nifty 6200 Call adds 3.6 lakh shares in Open Int
Nifty 5900 Put adds 2.9 lakh shares in Open Int
Nifty 5700 Put adds 2.2 lakh shares in Open Int
Nifty Jan 5800 Put adds 2.2 lakh shares in Open Int
Nifty 6100 Call adds 2.1 lakh shares in Open Int
Nifty 6000 Put adds 1.3 lakh shares in Open Int
Nifty 5600 Put sheds 6.6 lakh shares in Open Int
FIIs in F&O on Dec 07
FIIs net sell Rs 791cr in Index Futures
Index Futures Open Int down by 1,405 contracts
FIIs net buy Rs 138cr in Index Options
Index Options Open Int up by 21,696 contracts
FIIs net sell Rs 77cr in Stock Futures
Stock Futures Open Int down by 432 contracts
Market cues:

NSE F&O Open Int up Rs 1,019 crore at Rs 1.41 lakh crore
FIIs net buy USD 17.1 million in cash mkt on Dec 06

As per provisional data of December 7, FIIs were net sellers of Rs 523 crore in the cash market. FIIs were net sellers of Rs 740 crore in the F&O market. DIIs were net sellers of Rs 427 crore in the cash market
US Market:
In the US market, news of extended tax cuts helped send the stock market to a new two-year high in the first few minutes of trade, but gains were eventually slashed so that stocks settled flat.

Dow Jones Industrial Average was down 0.03% or 3.03 points at 11359.16. Nasdaq Composite was up 0.14% or 3.57 points at 2598.49. Standard & Poor's 500 was up 0.05% or 0.63 points at 1223.75.
In the currency space the dollar turned positive after early losses. Despite the rise, some analysts said deteriorating US fiscal positions could pose risks to the currency in the medium to long term.

Oil traded below USD 89 a barrel after falling from a 26-month high amid concerns that Europe's debt crisis will spread and reports showed US gasoline supplies rose the most since January.
Copper rose to a 31-month high in New York trade and reached a record in London on speculation that an extension of US tax cuts will help bolster the economy, increasing demand for the industrial metal. Meanwhile in precious metals, gold futures fell as investors stepped up sales following a six-session rally to a record.