Market Outlook: Indian markets may have flat to positive opening today mainly on the back of global positive cues. Nifty has major supports at 4200 -4250 and resistances are at 4440-4500. Market is expected to trade in a range. Economic Survey to be announced today which keeps traders away to take long position. Market internally indicates a lower turnover due to the initial weakness. The numbers of trades were lower and the average ticket size per trade was lower, indicating a weak buying bias.
Nifty Outlook: Pivot Point: 4317
R1: 4385, R2: 4430, R3: 4498
S1: 4273, S2: 4205, S3: 4160
Indian ADRs: Satyam, ICICI Bank, Tata Motors up 4%, Infosys, HDFC Bank up 1%
On the global front Wall Street ends with moderate gain; Dow up 57 points & Asia trading firm; Hang Seng, Shanghai Composite up. The US markets shut in the green but off highs after a barrage of economic reports. In economic news, the June ISM manufacturing index rose to 44.8 from 42.8 in May, slightly higher than expected. Meanwhile the ADP employment change report showed more than-expected job losses for June at 473,000 jobs. The CBOE volatility index dropped below 25 for the first time since September 2008, just before the collapse of Lehman Brothers. It however ended at 26.22. The Dow gained 57.06 points, or 0.7%, to 8,504.06. The S&P 500 index rose 4.01 points, or 0.4%, to 923.33. The NASDAQ composite index was up 10.68 points, or 0.6%, to 1,845.72.
Stocks in action for the day: Bajaj Hind, Hindalco, Tech Mah, Punj Lloyd
Fuel price hike: -Petrol prices hiked by Rs 4/litre, diesel by Rs 2/litre Oil Ministry says: -No increase in prices of kerosene, LPG -Govt to bear Rs 30,000 crore subsidy on cooking fuels -Upstream companies to also bear subsidy burden -Upstream subsidy burden not to be higher than FY09 -If crude prices ease, retail fuel prices will be cut
RIL-RNRL case: -RIL replies to RNRL; says will go to Supreme Court -Sources say RIL likely to move SC next week RIL to RNRL: -We do not concur with your interpretation of HC order -No question of deliberate delay in implementing order RIL-RNRL Case -RNRL says will fight out RIL in SC on gas dispute -Alert: RNRL has already filed caveat in SC
Tech Mahindra - Exclusive: -Less than 2 lakh Satyam shares tendered in open offer-Tech Mahindra likely to convert Satyam shares to escrow account Tech Mahindra-Says to detail Satyam shares bought via tender by July 8 -Writes to World Bank to lift eight-year ban against Satyam Mahindra Satyam plans to pitch for BT contracts
Bajaj Hindusthan: -Raises Rs 723 crore via QIP (qualified institutional placement)
-Issues 35 million shares at Rs 204 -Alert: stock still in NSE F&O curb
Sobha Developers QIP: from Source says 13-14 investors participated in QIP
-Reliance MF among investors in QIP: Source -Promoters stake to fall by 22.5% post QIP: Source -Alert: Sobha Developers raised Rs 527 crore from QIP
Tata Motors June (YoY): -Total Sales down 3.9% at 45,399 units versus 47,245 units -Domestic sales at 43,244 units versus 43,814 units -Passenger vehicle sale at 17,039 units versus 17,017 units -Bus, truck sales at 26,205 units versus 26,797 units
Sources Say: Exclusive: -Essar Oil's retail sales fall by more than 50% in 1 month
-Essar volumes fell from 130,000 kl to 40,000-55,000 kl -Essar Oil increased retail prices twice in 1 month -Alert: Essar Oil petrol prices higher than prices sold by PSUs
Hindalco closed Novelis plant in UK, to recast capex plans
Zee Entertainment moves to number 1 in GEC space with GRPs Of 243.1, pips Star Plus
Punj Lloyd subsidiary bags Rs 1,263 crore order in Singapore
Ambuja Cements June Sales at 1.59 million tonnes
Aditya Birla Group Q1 cement sales up 19.5% at 94.9 lakh metric tonnes (YoY)
JP Associates June cement sales up 29% at 8.04 lakh tonnes (YoY)
Shree Cement June cement sales up 28% at 7.78 lakh tonnes (YoY)
Jubilant subsidiary recalls drugs in UK
Maytas confirms talking to Reliance Infra to support Hyderabad metro project
DE Shaw looking to sell only 60% in DAL
Indian Bank cuts BPLR by 50 basis points to 12%
Ex-dividend: Bajaj Auto @ Rs 22, Reliance Infrastructure @ Rs 7
Nifty Outlook: Pivot Point: 4317
R1: 4385, R2: 4430, R3: 4498
S1: 4273, S2: 4205, S3: 4160
Indian ADRs: Satyam, ICICI Bank, Tata Motors up 4%, Infosys, HDFC Bank up 1%
On the global front Wall Street ends with moderate gain; Dow up 57 points & Asia trading firm; Hang Seng, Shanghai Composite up. The US markets shut in the green but off highs after a barrage of economic reports. In economic news, the June ISM manufacturing index rose to 44.8 from 42.8 in May, slightly higher than expected. Meanwhile the ADP employment change report showed more than-expected job losses for June at 473,000 jobs. The CBOE volatility index dropped below 25 for the first time since September 2008, just before the collapse of Lehman Brothers. It however ended at 26.22. The Dow gained 57.06 points, or 0.7%, to 8,504.06. The S&P 500 index rose 4.01 points, or 0.4%, to 923.33. The NASDAQ composite index was up 10.68 points, or 0.6%, to 1,845.72.
Stocks in action for the day: Bajaj Hind, Hindalco, Tech Mah, Punj Lloyd
Fuel price hike: -Petrol prices hiked by Rs 4/litre, diesel by Rs 2/litre Oil Ministry says: -No increase in prices of kerosene, LPG -Govt to bear Rs 30,000 crore subsidy on cooking fuels -Upstream companies to also bear subsidy burden -Upstream subsidy burden not to be higher than FY09 -If crude prices ease, retail fuel prices will be cut
RIL-RNRL case: -RIL replies to RNRL; says will go to Supreme Court -Sources say RIL likely to move SC next week RIL to RNRL: -We do not concur with your interpretation of HC order -No question of deliberate delay in implementing order RIL-RNRL Case -RNRL says will fight out RIL in SC on gas dispute -Alert: RNRL has already filed caveat in SC
Tech Mahindra - Exclusive: -Less than 2 lakh Satyam shares tendered in open offer-Tech Mahindra likely to convert Satyam shares to escrow account Tech Mahindra-Says to detail Satyam shares bought via tender by July 8 -Writes to World Bank to lift eight-year ban against Satyam Mahindra Satyam plans to pitch for BT contracts
Bajaj Hindusthan: -Raises Rs 723 crore via QIP (qualified institutional placement)
-Issues 35 million shares at Rs 204 -Alert: stock still in NSE F&O curb
Sobha Developers QIP: from Source says 13-14 investors participated in QIP
-Reliance MF among investors in QIP: Source -Promoters stake to fall by 22.5% post QIP: Source -Alert: Sobha Developers raised Rs 527 crore from QIP
Tata Motors June (YoY): -Total Sales down 3.9% at 45,399 units versus 47,245 units -Domestic sales at 43,244 units versus 43,814 units -Passenger vehicle sale at 17,039 units versus 17,017 units -Bus, truck sales at 26,205 units versus 26,797 units
Sources Say: Exclusive: -Essar Oil's retail sales fall by more than 50% in 1 month
-Essar volumes fell from 130,000 kl to 40,000-55,000 kl -Essar Oil increased retail prices twice in 1 month -Alert: Essar Oil petrol prices higher than prices sold by PSUs
Hindalco closed Novelis plant in UK, to recast capex plans
Zee Entertainment moves to number 1 in GEC space with GRPs Of 243.1, pips Star Plus
Punj Lloyd subsidiary bags Rs 1,263 crore order in Singapore
Ambuja Cements June Sales at 1.59 million tonnes
Aditya Birla Group Q1 cement sales up 19.5% at 94.9 lakh metric tonnes (YoY)
JP Associates June cement sales up 29% at 8.04 lakh tonnes (YoY)
Shree Cement June cement sales up 28% at 7.78 lakh tonnes (YoY)
Jubilant subsidiary recalls drugs in UK
Maytas confirms talking to Reliance Infra to support Hyderabad metro project
DE Shaw looking to sell only 60% in DAL
Indian Bank cuts BPLR by 50 basis points to 12%
Ex-dividend: Bajaj Auto @ Rs 22, Reliance Infrastructure @ Rs 7
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