Market Outlook: Indian market may have flat to positive opening today on the back of global action. Nifty has supports at 4700-4750 and resistances are at 4900-4950. Nifty is trading at a major resistance level and Nifty may correct and retest some key support zone.
Global Events to Watch:
- US Consumer Sentiment
- Wholesale Trade data
- Treasury Budget release
Global indices Update @ 9:
Dow Jones : 9627 (+80.23)
Nasdaq : 2084 (+23.63)
S&P 500 : 1044 (+10..77)
Nikkei 225 : 10465 (-47.81)
Hang seng : 21210 (+141.41)
SGX CNX Nifty : 4841 (+37)
INR / 1 USD : 48.37
CRUDE OIL : 72.27 (+0.33)
Gold : 997 (+1.80)
On the global counter: US mkts touch fresh 2009 highs; Dow up 80 pts while Asia trading mixed; Hang Seng up, Nikkei down. The
Stocks in news: Dr Reddy, Sterlite, Glenmark, Omaxe, HDIL, Pfizer
Dr Reddy's stake sale? Scrips jump to 52-week high: Hyderabad-based Pharma major Dr Reddy’s Laboratories jumped to a 52-week high of Rs 851.5 amid speculation that the promoters of the company may sell part of their equity in the company. At present, the promoters' stake is about 26%.
Vedanta's subsidiary Sterlite Industries raises bid for Asarco to $2.56 billion from $2.29 billion:
RIL: -No justification refusing gas at $4.2/mmBtu -NTPC buying LNG at $11/mmBtu currently -$2.34/mmBtu price sub-judice as NTPC did not sign agreement -NTPC went to court instead of signing gas agreement -NTPC cannot demand gas at $2.34/mmBtu till case settles
NTPC: Gas at $2.34/mmBtu from RIL will save Rs 32,000 crore -NTPC-RIL pact for govt-allotted gas by Sept-end -Alert: Govt allotted 2.67 mmscmd to NTPC
Oil
Overall 31 times
QIB 54 times
HNI 10 times
Retail 1.8 times
Glenmark : (CMP Rs 225)) -QIP (qualified institutional placement) opens, priced at Rs 221/share: Sources-Plans to raise $75 million with an upside option: Sources
Jet Airways update: -NAG says expect resolution at reconciliation meet today -Jet ground staff asks pilots to call off strike immediately
Pfizer - -Pfizer
Textile update: -Additional $1.5 billion textile exports possible to US -Rs 2,546 crore released under TUFS in single tranche
ICICI Bank --ICICI Venture launches $800 million PE Fund, says ICICI Bank to contribute 10% to fund
Punj Lloyd board allots non convertible debentures worth Rs 600 crore
SEBI Committee wants 1 day window for QIBs in IPOs from current 5 days
Omaxe to develop 3601 acres township in NCR, estimated revenues Rs 7,500 crore over 5-7 years
Exclusive: IT Dept raids at 12 HDIL premises, inclusive 2 directors' residences: Sources
Ex-dividend: ONGC @ Rs 14
Intraday Nifty Outlook: Pivot Point: 4838 R1: 4869, R2: 4919, R3: 4950 S1: 4888, S2: 4757, S3: 4707
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