9th August, 2011 Morning Market Updates 8:40
Asian markets were trading weak. China's Shanghai Composite shed 2.36% or 59.53 points at 2,467.28. Hong Kong's Hang Seng tumbled 7.22% or 1480.08 points at 19,010.49.
The market will open gap-down .Spot Nifty has a very strong support at 4799 level as per our blog published on 5th August, 2011.
Stock in news
Asian markets were trading weak. China's Shanghai Composite shed 2.36% or 59.53 points at 2,467.28. Hong Kong's Hang Seng tumbled 7.22% or 1480.08 points at 19,010.49.
The market will open gap-down .Spot Nifty has a very strong support at 4799 level as per our blog published on 5th August, 2011.
Stock in news
Results today: GMR Infra, Gujarat State Petronet, Wockhardt, Tata Communications, Piramal Lifesciences, ABB, United Breweries, Madras Cements, Mahindra Satyam, Jubilant lifesciences, Orbit Corp, Sobha Developers, Essar Ports, Four Soft, Ruchi Infra, Mandhana, Mudra Lifestyle, J Kumar Infra, Alphageo India, Bombay Rayon
Wipro CEO says-Holding onto guidance as of now
-Clients tentative on impact of downgrade
-Clients in wait & watch mode; BFSI most vulnerable
-Will hedge for 3 months; review post that
-Unclear which way rupee will move
-Will not lay off people this time
-Clients tentative on impact of downgrade
-Clients in wait & watch mode; BFSI most vulnerable
-Will hedge for 3 months; review post that
-Unclear which way rupee will move
-Will not lay off people this time
Other stocks and sectors that are in news today:- Glenmark Pharma has filed for arbitration claim against US based Napo pharma to prevent them from distributing a drug in Glenmark’s territories (ET)
-Tatas seek bailout for its Mundra UMPP in Gujarat which has been rendered unviable by the unexpected rise in international coal prices
- Tata Chemicals has deferred plans to raise USd 375 million to fund expansion plans following global uncertainties (Mint)
-Petrol prices may come down by Rs 1.5/litre with the possibility of any immediate decline in petrol prices will be evaluated on August 15 (HT)
-Ex Dividend: Ingersoll Rand special dividend Rs 18/sh, Goa Carbon Rs 4/sh
-F&O Ban: Deccan Chronicle , Gitanjali Gems -Listing of Elgi Rubber Co on NSE w.e.f August 10 pursuant to the scheme of arrangement
-Tatas seek bailout for its Mundra UMPP in Gujarat which has been rendered unviable by the unexpected rise in international coal prices
- Tata Chemicals has deferred plans to raise USd 375 million to fund expansion plans following global uncertainties (Mint)
-Petrol prices may come down by Rs 1.5/litre with the possibility of any immediate decline in petrol prices will be evaluated on August 15 (HT)
-Ex Dividend: Ingersoll Rand special dividend Rs 18/sh, Goa Carbon Rs 4/sh
-F&O Ban: Deccan Chronicle , Gitanjali Gems -Listing of Elgi Rubber Co on NSE w.e.f August 10 pursuant to the scheme of arrangement
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