02 Dec 2010 Morning Market Updates

02 Dec 2010 Morning Market Updates  08:34


Market will open with gap up on positive global cues.
Nifty has an immediate resistance around 6030 level and next resistance will be at 6070.


Today's Recommendations :


Suzlon, IDBI, DLF, SBI, Relcapital


Stocks in News :
-Cabinet okays 1:1 bonus, stock split in ONGC
-Govt to sell 5% equity stake in ONGC
Cabinet approves Rs 6,000 crore capital infusion to PSBs
-Move to raise govt holding in PSBs to 58%
-10 PSBs to benefit from capital infusion
Alert: Rs 15,000 crore capital infusion already provided in budget
Finance Ministry says:
-Move to enhance lending capacity
-Move to benefit agri, MSME lending
-Move to help PSBs raise additional capital from markets
Hero Honda
-November total sales up 10.5% at 4.21 lakh units
-Hope to maintain buoyancy in sales going forward
-Sales showing healthy growth even on large base
Dewan Housing
-To buy Deutschepost Indian assets for Rs 1,080 crore
-Company, promoters, investors to fund deal
Mastek buys assets of UK-based SEG Software
-SEG Soft's Assets to aid co's insurance products in North America
-SEG Software asset buy by arm 'not a large deal'
-See SEG Software assets buy aiding revenue after 3 years
IPO Update : MOIL
-Subscribed 54.61 times (X); Retail 10.86x,NII 8.77x, Employee 0.2x, QIB Portion 49.16x

-PNB hikes 8% interest rate on TDs of Rs 1-10 crore of 1 year & above


-UltraTech Cement November cement sales down 9.3% at 2.66 mt (YoY)


-Jaypee Cement November cement sales up 13% at 1.1 mt


Sesa Goa closes third party mining operations in Orissa
-Contract for 3rd party mining in Barbil expired on November 30
-Company was working on short-term renewals since June 2009
-Mining operations ceased now due to lack of viable commercial term
-Orissa operation was the highest cost operation


-Jubilant Life demerged agri & performance polymers operations to Jubliliant Holdings
-Indian Bank Hikes BPLR By 25 bps To 13%
-Murli Ind: Board meet today consider sale of cement business
-Bharti, Punj Lloyd bid for TCIL’s 30% in Hexacom – ET

F&O Updates :

F&O cues:







Total Nifty Futures up Rs 1,091 crore
Total Nifty Options up Rs 4.345 crore







Stock Futures add 3.2 crore shares in Open Int






Nifty Open Int add 8 lakh shares in Open Int






Nifty Futures prem at 20-pts prem versus 25-pts






Nifty Open Int PCR up 1.22 from 1.21






Nifty Puts add 21.67 lakh shares in Open Int






Nifty Calls add 16.1 lakh shares in Open Int
Nifty 5900 Put adds 12.4 lakh shares in Open Int
Nifty 5800 Put adds 8.7 lakh shares in Open Int
Nifty 6100 Call adds 8.5 lakh shares in Open Int
Nifty 6200 Call adds 4.8 lakh shares in Open Int
Nifty 6000 Put adds 3.8 lakh shares in Open Int

Nifty 5600 Put shed 5.5 lakh shares in Open Int
Nifty 5400 Put shed 4 lakh shares in Open Int
Highest Open Int Outstanding
Shifts to 5800 & 5700 Put fm 5600 Put & 6000 Call
FIIs in F&O on December 1
FIIs net buy Rs 937 crore in Index Futures
FIIs net sell Rs 5.83 crore in Index Options
FIIs net buy Rs 753 crore in Stock Futures
FIIs were net buyers to the tune of Rs 1671 crore in F&O market on Wednesday. FIIs were net buyers of Rs 937 crore in Index Futures, which open interest (OI) was up by 2,244 contracts. They were net buyers of Rs 753 crore in Stock Futures, which OI was down by 5,017 contracts.
Nifty futures added 8 lakh shares in OI and ended at 20 points premium versus 25 points premium. Stock Futures added 3.2 crore shares in OI. Nifty Open Interest PCR was up at 1.22 from 1.21.
Nifty 5900 Put added 12.4 lakh shares in Open Interest and Nifty 5800 Put added 8.7 lakh shares in Open Interest while Nifty 6100 Call added 8.5 lakh shares in Open Interest.
Long buildup was seen in Suzlon Energy. The stock surged 8.8%; its OI was up 6% and delivery volume increased at 42.5 lakh shares as against 37 lakh shares.
Short covering was seen in IOC and IVRCL Infrastructure. IOC rallied 11.5%; its OI was down 6% and delivery volume jumped at 17.3 lakh shares versus 7.7 lakh shares. IVRCL Infrastructure gained 10.5%; its OI was down 9%.
Cabinet approved capital infusion in public sector banks and Andhra Bank is one of those candidate. The stock rose 3.6% and its OI was up 27%.
Short covering continued in HCC. The stock gained 4.1% and its OI was down 11%.


Disclaimer :



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