Monday, November 30, 2009

BOR: Market Outlook: Indian markets may have positive opening today on the back of recovering performance on the Asian counters

Market Outlook: Indian markets may have positive opening today on the back of recovering performance on the Asian counters as Asia trading higher; Hang Seng, Nikkei up over 2%. Nifty has supports at 4860- 4900 and resistances are at 5050-5080. From a trading point of view markets will continue to book profits on the way up.

Global events to watch for today:

  • 2-5-7 Yr Note Settlement
  • Chicago PMI
  • 4-Week Bill Announcement
  • 3-Month Bill Auction
  • 6-Month Bill Auction
  • Farm Prices Data

Global indices Update @ 9:

Dow Jones : 10309 (-154.48)

Nasdaq : 2138 (-37.61)

Nikkei 225 : 9298 (+217.41)

Hang seng : 21837 (+703.17)

SGX CNX Nifty : 5002 (+49)

INR / 1 USD : 46.81

On the global counter: US markets end lower; Down down 154 points while Asia trading higher; Hang Seng, Nikkei up over 2%. The US markets ended lower. The Dow Jones Industrial Average was down 154.48 points, or 1.48%, to 10309.92. The Nasdaq was down 37.61 points, or 1.73%, to 2138.44 while the S&P 500 was down 19.14 points or 1.72% to 1091.49. US stocks plunged over 1% in a truncated session on Friday as a possible debt default by a Dubai state-owned conglomerate led to fresh concerns about the global financial system. The sell-off was broad, with selling concentrated mainly in the financial and commodity-linked sectors as investors trimmed positions in areas of the market most sensitive to economic uncertainty.

Stocks in action for the day: ONGC, Jayshree Tea, MTNL, L&T, Tata Motors

MSCI changes effective post closing today: HDIL, Suzlon in; Power Grid, Glenmark out

Tata Motors Q2: Consolidated revenues at Rs 21,100 crore versus Rs 22,991 crore (Estimated at Rs 18,800 crore) Consolidated net profit at Rs 21.78 crore versus loss of Rs 941.8 crore Adjusted net loss of Rs 154.7 crore versus profit of Rs 143.5 crore excluding-extra ordinaries JLR reports EBIDTA of £41 million (Rs 325 crore)

Wockhardt update: Wockhardt-DBS reach out of court settlement in CDR case Wockhardt-DBS to file consent decree in Bombay HC on Monday: Wockhardt settles total disputed MTM losses at 75% discount with DBS: Total exposure of Wockhardt to disputed MTM losses with DBS at Rs 91 cr Wockhardt also settles working capital loans with DBS: Wockhardt to pay DBS Rs 37 cr as settlement to working cap loans: Wockhardt had Rs 44 crore working cap loans with DBS

Board meets today: Dwarikesh Sugar on Q4 numbers -Lloyds Steel on preferential allotment -Nitco Tiles on Q2 numbers -Siemens on amalgamation of Siemens Healthcare

ONGC close to big oil find in Gujarat which can take company’s onshore production to 20%

Govt plans ultra mega steel projects: After the success of ultra mega projects in the power sector, the government proposes to launch a similar scheme in the steel sector to accelerate creation of large steel capacity in the country to meet the growing demand. As per the plan, steel ministry in co-operation with state governments will initially identify four to five locations closer to the iron ore mining sites for developing ultra mega steel projects (UMSP). The minimum capacity of an UMSP will be 10 million tonne (MT) and it will be offered to both public and private sector companies under a competitive bidding process.

Three developers seek to exit SEZs: Three large notified special economic zones or SEZs have requested the government to allow them to abandon their projects , suggesting that the slowdown has taken a toll on the investments in these model enclaves envisaged to give a push to industrial growth. The government does not yet see this as a worrying sign or set back in attempts to created world-class industrial infrastructure. Essar’s engineering SEZ in Hazira, Royal Palms IT/ITES SEZ in Mumbai and SNP Infrastructure’s IT/ITES SEZ in Tamil Nadu have expressed their inability to go ahead with their projects, citing poor market conditions

AV Birla retail mulls IPO, company has still not determined the amount of equity it would dilute

Dhampur Sugar allots 12 lakh shares to promoters @ Rs 67/share on warrant conversion ((CMP: 133))

L&T, Nuclear Power Corporation of India to form JV to set up nuclear power plants – to sign JV today

Indian ADRs on Friday: Mahindra Satyam down 7.5%, ICICI, MTNL down 5%

Bank employee get 17.5% wage hike effective Nov 2007

MTNL allotted highest spectrum

Finance Ministry says no to income tax holidays for 1st 7 NELP rounds

Jay Shree Tea close to buying tea estates in Africa

Tata group declines 10 million pound loan offer of UK govt to develop electric cars


No comments: