5th Dec Morning Market Updates

5th Dec Morning Market Updates  09:05

Weakness will likely to continue today also.Nifty may correct upto 6120-6110 levels.It is advisable to book profits or exit long otherwise hold long with strict stops.
Stocks that are in news today:
Ashok Leyland
December total sales at 7,568 units versus 6,110 (YoY)
December exports at 1,157 units versus 577 units (YoY)
PharmAsia News says Ranbaxy, Merck call off deal for anti-infectives
PharmAsia News alert: Ranbaxy, Merck R&D deal was struck in 2008
PharmAsia News alert: Ranbaxy was to get milestones, undisclosed upfront fee
PharmAsia News says
Ranbaxy, Merck confirm deal is discontinued
Merck shifts project to arm of Dr Reddy's, Aurigene: sources
Dr Reddy's spokesperson declines to comment
Other stocks and sectors that are in news today:
GoM meet scheduled for urea decontrol today
L&T may split into 9 virtual cos and each of this independent companies expected to get listed (ET)
Natco Pharma has sought a voluntary licence from Pfizer to make and sell copies of US company's HIV drug in India (ET)
NTC plans to sell 75 acres of mill land in Mumbai, Bangalore on the block (ET)
Lanco Infratech plans to borrow from Chinese banks for equipment contracts for plants (ET)
NMDC and MMTC lock horns over supplying of iron ore to Japanese mills with the former opposing the idea fearing lower realisations and the latter pitching for it (BS)
NTPC likely to delay implementing its 4,000 MW super critical thermal power project in Bijapur district, with farmers demanding more compensation in return for their agricultural land (FE)
Vijay Shanthi Builders board meet on January 13 for allotting 1.35 crore shares to M/s High End Homes on account of scheme of arrangmeent
OBC hikes deposit rates by 25-50 bps effective Wednesday
UltraTech Cement December sales flat at 3.27 mt (YoY)
F&O cues:
Total Nifty futures up Rs 752 crore, Options up Rs 3376 crore
Stock futures net add 1.67 crore shares in Open Int
Nifty Fut Open Int net add 4.1 lakh shares in Open Int
Nifty futures prem at 14 pts versu 26 pts
Nifty Open Int PCR down at 1.37 versus 1.41
Nifty Put add 10 lakh shares in Open Int, Call adds 19.6 lakh shares in Open Int
Nifty 6300 Call adds 6 lakh shares in Open Int
Nifty 5700 Put adds 6 lakh shares in Open Int
Nifty 6200 Call adds 5 lakh shares in Open Int
Nifty 6400 Call adds 1.8 lakh shares in Open Int
Nifty 6100 Put sheds 3.2 lakh shares in Open Int
FIIs in F&O on January 04
FIIs net buy Rs 109 crore in Index Futures; Open Int up 11893 contracts
FIIs net buy Rs 132 crore in Index Options; Open Int up 27402 contracts
FIIs net sell Rs 487 crore in Stock Futures; Open Int up 13301 contracts
Market cues:

NSE F&O Open Int was up Rs 3376 crore at Rs 1.14 lakh crore
FIIs net buy USD 95.7 million in the cash market on January 03

MFs net buy Rs 90 crore in the cash market on January 03
As per provisional data of January 4, FIIs were net buyers of Rs 718 crore in the cash market. FIIs were net sellers of Rs 247 crore in the F&O market. DIIs were net sellers of Rs 492 crore in the cash market.
US Markets:
US markets ended mixed despite positive economic news. The Dow however closed at highest levels since August 28, 2008.

In economic data, November factory orders jumped 0.7%, more than expected, and up from a 0.9% decline in October.
Dow Jones Industrial Average was up 0.18% or 20.43 points at 11691.18. Nasdaq Composite fell 0.38% or 10.27 points at 2681.25. Standard & Poor's 500 was down 0.13% or 1.69 points at 1270.2.
The market shrugged off minutes from the most recent FOMC meeting. The minutes indicated that some committee members are still concerned about downside risk but that economic activity continues to increase at a moderate rate.
In the economic data to watch, the ISM- non manufacturing index for December is expected to come at around 56. Figures for November were at 55. Also the ADP national employment report is expected today. On the commodity front, the EIA petroleum prices for the week will be out today.
In the currency space- the dollar bounced from three-week lows against the euro on strong US economic data, and more gains are likely given the heavy sale of euro zone bonds anticipated this year.
In the commodity space- oil prices tumbled 2.4% to USD 89.38 per barrel, as profit taking took its toll. Crude notched a session lows at USD 88.36, its worst levels in 2 weeks.
In the base metal space- copper has bounced back in Asia trade, earlier dropped the most in six weeks yesterday.
And in precious metals, gold saw a pullback, suffering its biggest 1-day loss since early November. The yellow metal fell by nearly 2%.