Friday, January 23, 2009

Market Outlook: Indian Equities markets are expected to be volatile on mixed cues with better than expected RIL results and weak global action.

Market Outlook: Indian Equities markets are expected to be volatile on mixed cues with better than expected RIL results and weak global action. A 2700 on the Nifty on a closing basis is a crucial level, above which the range may continue to hold. If 2,700 is broken then 2,600 and lower levels may be seen.
Nifty Outlook: Pivot level: 2713
R1: 2745, R2: 2776, R3: 2808
S1: 2681, S2: 2649, S3: 2618
On the global front: US markets retreated as Microsoft layoffs and bank worries overshadowed hope for economic stimulus. Glum economic data did little to revive optimism in the broader market. The Dow slipped 105.30 points, or 1.28%, to 8,122.80. The S&P 500 index fell 12.74 points, or 1.52%, to 827.50. The technology-heavy NASDAQ composite index slipped 41.58 points, or 2.76%, to 1,465.49.
Indian ADRs: Infosys down 5%, ICICI Bank down 4%, ICICI Bank down 4%, Tata Motors down 1%
Stocks in Action for the day: Satyam, Maytas Infra, RIL, Infy & reality stock to be in action
RIL: R1: 1158, R2: 1180, R3: 1206, S1: 1110, S2: 1085, S3: 1062
RIL says govt to gain Rs 16000 cr on higher price of $4.2MmBtu ((Acc to draft agreement between NTPC and co, NTPC to get gas at $2.34).
Tata Motors: R1: 139.9, R2: 147, R3 151, S1: 128.8, S2: 124.8, S3: 117.7
Sources Say Tata Motors' Nano To Hit Market In Jun 2009
Ashok Leyland bags order to supply 875 busses worth Rs 480 cr from DTC
Cabinet secretary may take up aviation ministry proposal on allowing FDI of 25%
Govt considering 2nd relief package for real estate
((May be given infra status & reduction in interest rates from 9.25% to 7.5% for loans up to Rs 30 lakh))
Satyam update:
-Goldman appointed as Satyam I-Banker - BS
-Maharashtra Govt scraps contracts worth Rs 480 awarded by MSEB to Maytas Infra
-Maytas Infra seeks time to publish Q3 results, to state results after 1 month after inspection of its books: FE
-BOI has Rs 215 cr exposure to Maytas Infra, has not provisioned for it
Infosys & IBM battle to acquire Fidelity’s captive BPO, may pay $150-180 m upfront for assured multi-yr outsourcing contracts
Selan Exploration buyback opens today
Stocks to be removed from F&O from Jan 30: Its Sterlite Tech
((no new contracts after expiry, existing contracts to continue))
Ansal Properties, Oswal Chemicals, Bongaigaon, Brigade, Core Projects, J&K Bank, Matrix, NIIT Technologies, Orbit Corp, Parsvnath, Prism Cement, Puravankara, Sterlite TECH, Voltamp, Walchandnagar
Results today: Edelweiss, HCL Tech, Indiabulls Fin, Punj Lloyd, Reliance Comm, RNRL, Tech Mahindra, Asian Paints, Bharat Electronics, Canara Bank, Container Corp, Crompton Greaves, Everest Kanto Cylinder, GIC Housing, Greaves Cotton , Gujarat Fluoro, IDBI Bank, ING Vysya Bank, Jyothy Labs, KLG Systel, Lanco Industries, Karnataka Bank, M&M Financial, Mahindra Ugine, Mirc Electronics, MRF, Oudh Sugar, PTC India, Shriram Transport, Sona Koyo, Syndicate Bank, Tanla Solutions, TV Today, Union Bank, Vijaya Bank, Welspun Gujarat
Alert: Interim Rail Budget on Feb 13


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