12th July Morning Market Update

12th July Morning Market Update 8:45


As stated earlier in last week, Nifty failed to cross 5770 level so the downtrend is intact. Now immediate support for Nifty is 5550. Consecutive closings below this level create more bearishness.


Infosys Q1 PAT at 1720cr vs 1818cr.It won't surprise the market  today.


Stock in news:

Results today: Infosys , Geojit BNP Paribas , Maharashtra Scooters, UCAL Fuel , Magma Fincorp , Koutons Retail India , Sagar Cements Cabinet reshuffle is likely today evening

Bank base rates- HDFC Bank hikes base rate, prime lending rates by 25 bps
- Union Bank of India hikes base rate by 25 bps to 10.25%
- Oriental Bank ups BPLR, base rate by 25 bps effective today

New in F&O-NSE adds 8 new securities to F&O list, to declare date of introduction later
- Arvind , BF Utilities , Gitanjali Gems , JSW Energy , Jubilant Foodworks , South Indian Bank , TTK Prestige , VIP added to F&O

FDI in retail: Exclusive sources-Planning committee supports 51% FDI in multi-brand retail
-Department of consumer affairs wants only 49% FDI
-Finance Ministry will share views on multi-brand FDI at CoS meet

EGoM: Exclusive Finance Ministry sources-EGoM on Tuesday to discuss cap on subsidised LPG cylinder
-Panel had proposed capping subsidised cylinders at 4

Other stocks and sectors that are in news today:- Essar Oil owes USD 2 billion to Iran for oil imports since late December when RBI ended long standing payments mechanisms for refiners (Mint)
- Madras Cements in talks with Lafarge & holcim to divest its cement grinding unit in West Bengal for roughly Rs 350 crore (TOI)
- BPCL lines up investment of Rs 50,000 crore to expand its capacities in refining, retail & upstream projects (TOI)
-F&O Ban: Kingfisher Airlines 
- Karuturi Global board meet today to decide opening date of GDR issue
- Chowgule Steamships revokes 29 lakh shares of promoters representing 7.99% equity
- Essar Oil bets big on coal bed methane gas, looking for aggressive acquisitions both in domestic & local arena (ET)
- SpiceJet to delay its regional routes as company waits for the RBI nod for USD 250 million funding to buy Bombardier Q400 – ET 
- SBI holds on to its plan to acquire a stake in Tata Motors finance following objections raised by RBI – BS 
-5 firms including JSPL , GVK Power may lose coal blocks if the production process doesn’t go underway - FE

F&O:

Total Futures OI shed Rs 100 crore and Total Options OI was up Rs 1884 crore

Total stock futures OI add 1.28 cr shares in OI

Nifty futures OI add 2.17 lakh shares in OI

Nifty Open Int PCR at 1.20 Vs 1.25

Total Put shed 1.7 lakh shares, call add 19.3 lakh shares

Highest OI outstanding at 5800 call, 5500 put

Nifty 5700 call adds 9.3 lakh shares in Open Int

Nifty 5800 call adds 5.3 lakh shares in Open Int

Nifty 5500 call adds 4.33 lakh shares in Open Int

Nifty 5600 put shed 6.9 lakh shares in Open Int

Nifty 5700 put 5.5 lakh shares in Open Int

Nifty 5900 call sheds 5.11 lakh shares in Open Int

Kingfisher Airline in F&O ban

NSE Adds 8 New Securities To F&O List, to declare date of introduction later

Arvind, BF Utilities,Gitanjali Gems,JSW Energy,Jubilant Foods South Indian Bank, TTK Prestige, VIP added to F&amp

Cabinet reshuffle put off for now: Reports

Global markets weak

Brent Crude down to $117

NSE F&O Open Int was up Rs 4191 crore at Rs 1.20 lakh crore

As per provisional data of July 8, FIIs were net buyers of Rs 517 cr in cash markets. DIIs were net sellers of Rs 390 cr in cash markets. FIIs were net sellers of Rs 315 cr in F&O.

Global Market:

Cabinet reshuffle likely today evening

IIP numbers today: CNBC-TV18 poll estimates May 2011 IIP poll at 8.6% versus 6.3% in April

Infosys numbers to be declared today

Global markets fall around 2% post concerns in Italy increased

As per provisional data of July 11, FIIs were net buyers of Rs 433 cr in the cash market. FIIs were net sellers of Rs 284 cr in the F&O market. DIIs were net buyers of Rs 73.6 cr in the cash market.