Market Outlook: Indian markets may have flat to positive opening today. Nifty has supports at 4600-4630 and resistances are at 4800-4850. Markets are trading in a range and a move in either direction is expected. Overall outlook for the markets today is that guarded optimism as the bulls are displaying a lack of buying conviction above the 4700 levels. The Nifty must remain above this hurdle for a fresh up thrust to commence. Ideally the up trend is still intact and we should see a level of 4850 and even more being achieved
Nifty Outlook: Pivot Point: 4680
R1: 4731, R2: 4787, R3: 4841
S1: 4643, S2: 4593, S3: 4556
On the global front: Wall Street ends lower amid poor ISM services data & Asian markets trading mixed; Shanghai Composite down 2.5%. The US markets ended lower on Wednesday, despite a late attempt at a recovery. Disappointing readings on the service sector and employment situation and a cautious outlook from P&G dragged the markets down. The latest ADP employment report indicated that 3.71 lakh jobs were slashed in July. This came after the challenger report stated that planned job cuts jumped 31% last month. Meanwhile job loss estimates for June were revised lower to reflect 4.63 lakh job cuts. Only positive indicator being that the factory orders unexpectedly rose 0.4% in June. The Dow fell 39.22 points, or 0.4%, to 9,280.97. The S&P 500 Index fell 2.93 points, or 0.3%, to 1,002.72, while the Nasdaq Composite Index fell 18.26 points, or 0.9, to 1,993.05.
Stocks in action for the day : Bharti, RIL, Rel Power, Jet Air, Satyam
Bharti-MTN update:-MTN may seek management, operational say in Bharti Airtel: Sources -MTN may seek board slots in Bharti Airtel: Sources -MTN expects voting rights: Sources -MTN may seek changes to deal structure: Sources -Alert: MTN directors may meet on August 17 to discuss deal
Reliance Power: -Company scouting for additonal coal mines in Indonesia -Company to go in for coal blocks with exploration licenses
Govt Counsel Says: -Revised SLP (Special Leave Petition) to be filed either on Friday or on Monday-Will clarify govt not for quashing entire Ambani MoU (memorandum of understanding) -Will seek quashing of gas-related parts of Ambani MoU -Will reiterate private arrangement cannot override govt policy
Jet Airways: -Jet Airways to lay off approximately 400-500 people in next 6 months -Jet Airways' job cuts in a phased manner across departments -Jet Airways to increase share of low cost/no frills flights -Jet to up low cost services to about 65% of total services -Alert: Currently, low cost services account for 30-35% of Jet's services -Jet Airways says initiated measures for right sizing of sales staff
NCDRC: -SC to take up class action suit in Satyam case on Monday -Midas Touch Invst moved class action at Apex Consumer Forum -NCDRC rejected class action suit -Alert: NCDRC is National Consumer Dispute Redressal Commission -Suit seeks damages of Rs 4,987.5 crore -Appeal filed against Raju Brothers, independent directors, PW -Suit seeks compensation for 3 lakh Satyam shareholders
Arbitration panel to meet later this month to decide Balco stake sale to Sterlite
Ramayana Promoters make open offer for BSE-listed CCAP at Rs 80/share ((CMP: Rs 48.40/sh, 10-day average volume: 15,000, stock doubled in last 1 month)
Allied Digital close to $100 million acquisition in Europe
CAG denies completing RIL audit, contradicts Petroleum Ministry comments
DoT may keep new telecom licenses on hold till recommendations given on new licenses
Orbit Corporation okays issue of 4 million warrants to promoters
Ex-dividend: Zee Entertainment @ Rs 2
Ex-bonus: Vishal Info @ 1:2
6.48 crore Divi’s shares to hit the market ((bonus issue))
F&O cues: Total Futures Open Int up by Rs 1500 cr
Total Futures Open Int up by Rs 1500 crore, Total Options Open Int up by Rs 1800 crore
Nifty August futures trading at a 11 point premium versus 1 point discount
Nifty up 0.3%, Futures Open Int up 4%
Nifty Open Int PCR up from 1.04 to 1.06
Nifty IVs at 35-38%
Nifty Puts add 17.3 lakh shares in Open Int , Nifty Calls add 11.4 lakh shares in Open Int
Nifty 4300 Put Adds 4.3 lakh shares in Open Int
Nifty 4700 Put Adds 2.2 lakh shares in Open Int
Nifty 4700 Call Adds 4.1 lakh shares in Open Int
Nifty 4800 Call Adds 3.2 lakh shares in Open Int
Stock futures Adds 3.9 cr shares in Open Int
Nifty Outlook: Pivot Point: 4680
R1: 4731, R2: 4787, R3: 4841
S1: 4643, S2: 4593, S3: 4556
On the global front: Wall Street ends lower amid poor ISM services data & Asian markets trading mixed; Shanghai Composite down 2.5%. The US markets ended lower on Wednesday, despite a late attempt at a recovery. Disappointing readings on the service sector and employment situation and a cautious outlook from P&G dragged the markets down. The latest ADP employment report indicated that 3.71 lakh jobs were slashed in July. This came after the challenger report stated that planned job cuts jumped 31% last month. Meanwhile job loss estimates for June were revised lower to reflect 4.63 lakh job cuts. Only positive indicator being that the factory orders unexpectedly rose 0.4% in June. The Dow fell 39.22 points, or 0.4%, to 9,280.97. The S&P 500 Index fell 2.93 points, or 0.3%, to 1,002.72, while the Nasdaq Composite Index fell 18.26 points, or 0.9, to 1,993.05.
Stocks in action for the day : Bharti, RIL, Rel Power, Jet Air, Satyam
Bharti-MTN update:-MTN may seek management, operational say in Bharti Airtel: Sources -MTN may seek board slots in Bharti Airtel: Sources -MTN expects voting rights: Sources -MTN may seek changes to deal structure: Sources -Alert: MTN directors may meet on August 17 to discuss deal
Reliance Power: -Company scouting for additonal coal mines in Indonesia -Company to go in for coal blocks with exploration licenses
Govt Counsel Says: -Revised SLP (Special Leave Petition) to be filed either on Friday or on Monday-Will clarify govt not for quashing entire Ambani MoU (memorandum of understanding) -Will seek quashing of gas-related parts of Ambani MoU -Will reiterate private arrangement cannot override govt policy
Jet Airways: -Jet Airways to lay off approximately 400-500 people in next 6 months -Jet Airways' job cuts in a phased manner across departments -Jet Airways to increase share of low cost/no frills flights -Jet to up low cost services to about 65% of total services -Alert: Currently, low cost services account for 30-35% of Jet's services -Jet Airways says initiated measures for right sizing of sales staff
NCDRC: -SC to take up class action suit in Satyam case on Monday -Midas Touch Invst moved class action at Apex Consumer Forum -NCDRC rejected class action suit -Alert: NCDRC is National Consumer Dispute Redressal Commission -Suit seeks damages of Rs 4,987.5 crore -Appeal filed against Raju Brothers, independent directors, PW -Suit seeks compensation for 3 lakh Satyam shareholders
Arbitration panel to meet later this month to decide Balco stake sale to Sterlite
Ramayana Promoters make open offer for BSE-listed CCAP at Rs 80/share ((CMP: Rs 48.40/sh, 10-day average volume: 15,000, stock doubled in last 1 month)
Allied Digital close to $100 million acquisition in Europe
CAG denies completing RIL audit, contradicts Petroleum Ministry comments
DoT may keep new telecom licenses on hold till recommendations given on new licenses
Orbit Corporation okays issue of 4 million warrants to promoters
Ex-dividend: Zee Entertainment @ Rs 2
Ex-bonus: Vishal Info @ 1:2
6.48 crore Divi’s shares to hit the market ((bonus issue))
F&O cues: Total Futures Open Int up by Rs 1500 cr
Total Futures Open Int up by Rs 1500 crore, Total Options Open Int up by Rs 1800 crore
Nifty August futures trading at a 11 point premium versus 1 point discount
Nifty up 0.3%, Futures Open Int up 4%
Nifty Open Int PCR up from 1.04 to 1.06
Nifty IVs at 35-38%
Nifty Puts add 17.3 lakh shares in Open Int , Nifty Calls add 11.4 lakh shares in Open Int
Nifty 4300 Put Adds 4.3 lakh shares in Open Int
Nifty 4700 Put Adds 2.2 lakh shares in Open Int
Nifty 4700 Call Adds 4.1 lakh shares in Open Int
Nifty 4800 Call Adds 3.2 lakh shares in Open Int
Stock futures Adds 3.9 cr shares in Open Int
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