9th Dec 2010 Morning Market Updates:

9th Dec 2010 Morning Market Updates:
Stocks that are in news today:

IPO corner:
A2Z Maintenance
Total subscription at 0.72 times (X)
QIB at 0 X, HNI at 4.08X, Retail at 0.01X
Ravi Kumar Distilleries
Total subscription at 0.33X
QIB at 0X, HNI at 0.97X, Retail at 0.52X
Govt official says: From PTI

Petrol prices likely to go up next week, diesel may follow
PSUs may hike petrol prices by Rs 1.50-2/Litre early next week
PSUs may hike diesel prices by Rs 2/Litre
TRAI says (likely to benefit Aksh Optifibre, Sterlite Tech)
State optical fibre agency to be formed in every state
51% equity to be held by NOFA, 49% by state govt
National broadband network to cost Rs 60,000 crore
Network to be financed by USO fund
Network to be given loans/ guarantees by centre
National broadband plan targets 75 million connections by 2012
Govt may cut duties on inputs, finished products for broadband
Modems, routers be mulled for 100% depreciation in first year
RBI to issue paper on savings bank rate deregulation soon: NewsWire18
RBI Says
Savings bank rate deregulation may improve Pol transmission
Savings bank rate deregulation may impede financial inclusion
Tanglin Retail Realty: to pick up majority stake in Sical Logistics; aiming to own 55% share in Sical
Tanglin Retail Realty looking at revenue of Rs 1,200 crore from Sical in 5 years
Tanglin Retail Reality is Coffee Day Resorts Group Co
Tanglin Retail has 30% in Sical via preferential allotment
Tanglin Retail picked up 10% stake in Sical in November
Liberty Group forays into telecom equipment manufacturing
Liberty group ties up with 5 companies for telco equipment
JV with 3J Tech, Taiwan for 3G technical support
Liberty & 3J Tech to set up Modem & Dongle units
JV with Optiway, Israel for In-building solutions
Other stocks and sectors that are in news today:
HCL Security ltd bags Rs 250 million deal from Mumbai International Airport Ltd.
Securities in F&O ban: Ispat, SCI, Kingfisher Airlines
Hero to buyout Japanese partner Honda; deal this month; Price not clear: ET
Tata Steel may form alliance to counter-bid for Riversdale: ET
Novelis set to close refinancing deal for Hindalco debt by Friday; Rates likely to be higher : ET
Reliance to boost LatAm oil imports to improve refining margins: ET
SC asks CBI to examine feasibility of probing the allocation of spectrum since 2001
Airlines on Ministry's flight path; maximum fares descend 10-50%: BS
Actis in talks with Isuzu to exit from Swaraj Mazda: BS
ONGC to allow GAIL to market gas from C-series field: BS
TRAI draws up Rs 600 broadband plan to reach every village: BL
ITC eyeing acquisition in paper sector: BL
Vishal Retail gets a month from HC to reach settlement deal: Mint
ADRs: MTNL up 3.9%
Apollo Hospitals: IFC converts USD 7.5 million FCCBs into shares
Hero Honda raises prices by 500-1500 – FE
Kansai Nerolac raises paint prices by 3% - FE
NTPC plans to buy equipment worth Rs 1.5 lakh crore or turbine and boilers next year
F&O cues:

Total Nifty Futures down Rs 1157 crore
Total Nifty Options up Rs 1531 crore

Stock Futures shed 1.3 crore shares in Open Int
Nifty Fut OI shed 1 lakh shares in Open Int
Nifty Fut prem at 20-pts prem versus 33-pts prem
Nifty Open Int PCR down at 1.14 from 1.21
Total Puts shed 11.2 lakh shares in Open Int
Total Calls add 29 lakh shares in Open Int
Nifty 5900 Put sheds 8.8 lakh shares in Open Int
Nifty 6000 Put sheds 7.6 lakh shares in Open Int
Nifty 5800 Put sheds 3.6 lakh shares in Open Int
Nifty 6300 Call sheds 3.6 lakh shares in Open Int
Nifty 6000 Call adds 14.6 lakh shares in Open Int
Nifty 5900 Call adds 6.2 lakh shares in Open Int
Nifty 6100 Call adds 4.2 lakh shares in Open Int
Nifty 5600 Put adds 3.8 lakh shares in Open Int
FIIs in F&O on Dec 08
FIIs net sell Rs 1276 crore in Index Futures
Index Futures Open Int up by 6215 contracts
FIIs net buy Rs 458 crore in Index Options
Index Options Open Int up by 53272 contracts
FIIs net sell Rs 194 crore in Stock Futures
Stock Futures Open Int down by 2388 contracts
Market cues:

NSE F&O Open Int up Rs 374 crore at Rs 1.42 lakh crore
FIIs net sell USD 93.6 million in cash mkt on Dec 07

As per provisional data of December 08, FIIs were net sellers of Rs 1485 crore in the cash market. FIIs were net sellers of Rs 1032 crore in the F&O market. DIIs were net buyers of Rs 409 crore in the cash market.
US Markets:
The US markets ended with modest gains helped by the financials after an early drop on the back of the dollar's rally. The treasuries hit six month highs on fears that the economy would heat up under the tax plan considerations.

Dow Jones Industrial Average was up 0.12% or 13.32 points at 11372.48. Nasdaq Composite was up 0.41% or 10.67 points at 2609.16. Standard & Poor's 500 was up 0.37% or 4.53 points at 1228.28.
In the data to watch out for, US initial jobless claims for the week ending December 4 is expected to come at around 425,000. Claims for the November 27 week came in at 436,000. The Bank of England shall announce its monetary policy with regard to the monthly interest rates today for December.

In the world of currency, the dollar rose and looked poised to extend gains after a proposed extension of tax cuts sparked a rally in US bond yields. However, in Asia trade the greenback edged slightly into red this morning.
In commodities, oil prices dipped for a second day as unexpectedly large increases in US fuel inventories and a stronger dollar sparked selling in crude.
In the base metal space - copper rose to record levels in New York trade on speculation that demand will outpace production as a global recovery sparks construction of new homes and appliances.
Amongst precious metals gold prices fell more than 1% as an extended fall in US treasury prices fueled profit-taking from bullion's record run.