Market Outlook: Indian markets may have flat to positive opening today on the back of mixed performance on the global cues. Being today the first day for new trading hours one has to watch the volume at the beginning of the day @ 9 to tarck the markets momemtum. Nifty has supports at 5130-5160 and resistances are at 5250-5280. Markets are expected to trade in a range. Stock specific action to be in markets as we are near to results season, for the day we like Tata motors & Maruti.
Markets to start trading at 9 am from today: It is not quite the kind of start to the new trading year that most stock market professionals in
Global events to watch for today:
- ISM Mfg Index
- Construction Spending
- 4-Week Bill Announcement
- 3-6 Month Bill Auction
Global indices Update @ 8:
Dow Jones : 10428 (-120.4)
Nasdaq : 2269 (-22.13)
Nikkei 225 : 10669 (+122.97)
Hang seng : 21900 (+27.81)
SGX CNX Nifty : 5225 (+05.50)
INR / 1 USD : 46.65
On the global counter: Wall St closes out `09 with best gains since 2003 Asian markets trading mixed; Nikkei up, Straits Times down. For the last day US stocks declined, with a late-day sell-off pushing all three major indexes down about 1% as investors sold some of the year
Stock in action for the day: Tata Motors, NALCO, Sical Logistics, Lloyds Metals, Panacea Biotec, Himadri Chemicals & Godrej Consumer Products
Tata Motors December sales register 105% increase: The country’s largest automaker, Tata Motors Ltd registered 105 per cent growth in sales during the month selling 51,627 units compared to 25,219 vehicles in December 2008. The growth in December 2009 has come over low sales in December 2008, impacted by the downturn in the automobile industry during that period. All other manufacturers including Maruti, Hyundai and Hero Honda reported their best- ever sales in December in line with revival of growth in the auto-industry. Maruti and Hyundai posted a sales growth rate of 36.5% and 42.3% respectively.
NALCO: According to government sources say that Nalco will be split into three companies at an opportune time. They may split Nalco into Nalco Metal, Nalco Power and Nalco International.
Sical Logistics has bagged Rs 163 crore Hindustan Copper multimodal logistics contract.
Lloyds Metals & Engineers said that owing to Lloyds Line Pipes (LLPL), a wholly owned subsidiary of the company, raising additional equity, following which the LLPL is now ceased to be subsidiary of the company.
Panacea Biotec approved the buy-back of its equity shares of Re 1 each, by way of open market purchases through stock exchanges. It approved maximum buy-back price as Rs 189 per share. The maximum number of shares proposed for buy-back as 55,92,000 equity shares for an aggregate amount not exceeding Rs 105.69 crore. The stock was down 5% at Rs 201 versus the buyback price of Rs 189.
Hindustan Construction Company (HCC) has received an order from Hindalco Industries, Orissa, for Pot Shell Fabrication Works for Greenfield Smelter Project at Lapanga, Sambalpur, Orissa. The value of the contract is Rs 108.73 crore.
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