10-04-2012

Data Alert From Overseas  –
• German Trade Balance at 11:30 am.
• French Industrial Production m-o-m at 12:15 pm.

Domestic Stock Specific News  -
• Govt may scale down ops of loss-making branches of PSU bks,
insurers.
• Source says ITC hikes Gold Flake, Navy Cut cigarette prices 5-
16%.
• Godrej Prop in pact for redevelopment project at Byculla,
Mumbai.
• Tamilnadu Telecommunications gets 156.8-mln-rupee order
from BSNL.
• Bajaj Hindusthan revises arms' merger plan.
• Somany to buy 26% in Commander Vitrified for 32.5 mln rupees.


Market Outlook
Market is expected to open on flat note, we can see Nifty spot to trade around 5240-5250 in opening trade, if Nifty spot able to cross the 5250 level we could see some support buying to initiate in market, Nifty spot is having resistance at 5250-5280 above 5280 we can see some comfort in market and it could move till 5320, whereas Nifty spot is having supports at 5220-5180 below that we may see some selling pressure in market and it could slide lower till 5150.

Market News:
 • RETAIL: The government may consider tweaking norms on sourcing from small, village, and cottage industries by foreign companies that are looking to set up wholly owned single brand retail stores in India.

• BANKING: The World Bank will issue $4.3 bln special private placement bonds, which will set the stage for the international body to increase its lending to India. Currently, the limit for World Bank's lending to India is $17.5 bln.
• FERTILISER: The Cabinet Committee on Economic Affairs may soon take up for discussion the new investment policy for urea.
• OIL & GAS: The government is considering reducing the tenure of power purchase agreements for gas-based projects by 10 years.
• REALTY: The government will buy 51.12% stake in Tata Group's Hemisphere Properties. Hemisphere Properties will then become a public sector company and own 773.13 acre surplus land of Videsh Sanchar Nigam..

• Patni shrs up 2.7% as iGate Corp to delist co at 520 rupees/shr
• Indraprastha Gas shrs sink 35%; PNGRB orders cut in co's tariffs

• COAL INDIA: Board to meet Apr 16 to approve fuel supply agreement pacts with power companies.
• GUJARAT GAS: Spanish company Gas Natural Fenosa in talks to buy BG Group's 65% stake in the company.
• KINGFISHER AIRLINES: REDECT Consultancy sold 3.25 mln shares of the company for 57.4 mln rupees through bulk deals Monday.
• OIL INDIA: To start exploratory drilling in the Krishna Godavari Basin in the first quarter of this financial year.
• PATNI COMPUTER SYSTEMS: iGate Corp will buy the outstanding shares of the company for 520 rupees a share, and spend $272 mln for delisting it from Indian bourses.
• GAIL shrs dn 6%, BPCL falls 3% on PNGRB order on Indraprastha Gas
• Thomas Cook up 7%; report parent may exit co for 17.16 bln rupees



 FII & DII activity:
 FII & DII activity on 09-04-2012 – FII net sellers in index future to the amount of Rs 1091.99 cr , in index options net buyers to the amount of Rs 245.06 cr, in stock futures net sellers to the amount of Rs 260.51 cr & in stock options net buyers to the amount of Rs 23.36 cr. Overall FIIs were net sellers by Rs 1084.08 cr.

Capital Marget Segment – FII trading activity net sellers of Rs 269.43 Cr & DII trading activity net sellers of Rs 105.82 Cr.