Market Outlook: Indian markets may have flat to positive opening today on account of mixed global cues. Nifty has supports at 5000-5050 and resistances are at 5180-5230 though the market looks up but we would be cautious.
Global events to watch for today:
- International Trade
- Jobless Claims
- RBC CASH Index
- Quarterly Services Survey
- EIA Natural Gas Report
- 3-Month Bill Announcement
- 6-Month Bill Announcement
Global indices Update @ 9:
Dow Jones : 10337 (+51.08)
Nasdaq : 2183 (+10.74)
Nikkei 225 : 9995 (-09.38)
Hang seng : 21809 (-62.44)
SGX CNX Nifty : 5120 (-6.5)
INR / 1 USD : 46.77
On the global counter: Wall Street ends with moderate gains; while Asian markets trading mixed; Hang Seng up, Nikkei flat. Wall street closes higher after a choppy session due to frequent swings in the dollar. Some late support helped the major equity indices make modest gains. Standard & Poor
Stocks in action for the day: Satyam, Bajaj, Dr Reddys, Hindalco, RIL, Swaraj Mazda
Satyam ADR up 6%, settles with Upaid for $70 million; to pay $45 million upfront and $25 million in 1 year
JSW Energy IPO subscribed 1.68 times: QIB: 2.88 times NII: 0.15 times Retail: 0.40 times JSW Energy IPO – QIB Portion Total bids: Rs 3,968 crore LIC bid: Rs 1,884 crore ICICI Bank bid: Rs 750 crore
Godrej Prop IPO – day 1 subscriptions Total: 1.23 times QIB: 2.4 times NII: 0.007 times Retail: 0.02 times
Syndicate Bank: In active talks for Bharti Axa Life Insurance stake -May buy 20-25% stake in Bharti Axa; deal may be worth Rs 300 crore
3G & BWA Auction: 3G & BWA auction by Jan-end, 2010:-ALERT: Auction was earlier scheduled for January 14
PNB Housing Finance : Sells 26% stake to Destimoney for Rs 79.2 crore at Rs 101.50/share -Destimoney has option to increase stake to 49% -PNB says to retain majority stake in PNB Housing Finance.
NSE bars further F&O positions in Kingfisher as 95% marketwide position limit is hit
Cox & Kings to list tomorrow
Bajaj to exit scooter business
Fortis Healthcare in talks to acquire Lanka hospital chain
Hindalco to raise Rs 4,500 crore debt for financial closure of Utkal Alumina Refinery
Lyondell creditors back RIL, seek court nod to work with RIL as a rescue plan
Pfizer sues Dr Reddy’s, asks judge to prohibit sales of generic version of Lipitor till 2017
Banks may have to classify Maytas Infra loan as bad asset
Ex-bonus: Adani Enterprises (1:1)
Ex-split: Jindal Saw (From Rs 10 to Rs 2)
Tatas look to enter Swaraj via Sumitomo: Tata Motors, India’s largest marker of commercial vehicles, is negotiating to acquire Japanese conglomerate Sumitomo’s 53.5% stake in Swaraj Mazda as it attempts to strengthen its position in the light commercial vehicle or LCV market which is all set to see the entry of new players such as GM and its Chinese partner SAIC and a joint venture between Ashok Leyland and Nissan. The deal size, including the open offer, may be around Rs 250 crore, said the same person. Tata Motors’ stake will go up to 73.5% if the open offer, which has to be at least 20% of the target company’s equity capital, is fully subscribed.
Gillette valuation seen too high: FMCG major Gillette
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