10-05-2012

Markets opened lower, traded in a narrow band with choppiness to close in red. On the sectoral front Realty, Metal and Bankex contributed to the fall whereas FMCG and IT ended on the gainers side. The Advance decline ratio was in favour of declining counters (Advances = 936/ Declines=1796).

Pattern Formation: On the Daily chart, we are witnessing a Dojicandlestick pattern. Further prices are far away from the short term5&20-dayEMA, hence a pullback cannot be ruled out.

Future Outlook The narrow range body formation which resembles aDoji reflects indecisiveness prevailing at current level. Further, prices are away from the short term moving averages this suggests that a pull back of the current fall cannot be ruled out. In coming trading session, if indices for first hour manage to close above 5002 level then it may test 5040 – 5080 level. On the flip side 4950 – 4900 are likely to act support for the day.

Data Alert From Overseas –

• US Unemployment Claims and Trade Balance at 6:00 pm.
• Fed Chairman Bernanke Speaks


Domestic Sector News –
• BANKING: The RBI has said banks can use funds from foreigncurrency non- resident (bank) deposits to meet rupee workingcapital or capital expenditure needs of corporate entities or
exporters who meet some specific norms.
•COAL: Government has identified 54 coal blocks having total reserves of about 18.22 bln tn for allocation. Cabinet is expected to consider the bill for setting up a coal sector regulator to
ensure transparency in the allocation of blocks and to expedite the resolution of pricing disputes.
•OIL AND GAS: Petroleum and Natural Gas Regulatory Board has said it is unable to determine the marketing margin that the gassuppliers can charge as these companies have not provided the
necessary information.
• POWER: Power ministry plans to take power producers'concerns about the draft fuel supply agreements with the coalministry soon.


Domestic Stock Specific News -
• Govt asks oil cos to sell petroleum coke via auction in local mkts.
• Fin secy says tax anti-avoidance norms to be finalised in 2 mos.
• M&M source says fire at Nashik unit early today; under controlnow.
• HCL Tech launches maintenance, repair solutions for railways.
• Vakrangee Soft gets 7.5-bln-rupee Rajasthan e-governance project.


International News -
•Germany exported commodities to the value of Euro 98.9 billionand imported commodities to the value of Euro 81.5 billion in March 2012.


Today’s Result –

Agcnet, Ahlwest, Apcotexind, Apollotyre,Balpharma , Cadilahc, Canbk, Cipla, Escorts, Gujsidhcem, HEG, Impexferro, Jctel, Jisljaleqs, Jublfood, Kaleconsul, Keycorpser, KKCL, Kokuyocmln, Lupin, Mangtimber, Morarjetex, Navnetpubl, Nelco, NTPC, Prakashcon, Prismcem, PTL, Rubymills, Sintex, Smspharma, Spanco, Tecilchem, Ushamart, Zodjrdm.


Results Announced on 09-05-2012 -

• Union bank of India Jan-Mar net profit at 773.19 cr rupees vs 597.57 cr rupees (YoY).
• PNB Jan-Mar net profit at 1424.06 cr rupees vs 1200.90 cr rupees (YoY).
• NIIT Ltd Jan-Mar net profit at 43.27 cr rupees vs 35.42 cr rupees (YoY).
• Ranbaxy Lab Jan-Mar consol net profit 1246.76 cr rupees vs 304.38 cr rupees (YoY).
• Uttam Galva Steel Jan-Mar net profit 40 cr rupees vs 14.05 cr rupees (YoY).
• ABB Jan-Mar net profit 47.64 cr rupees vs 59.55 cr rupees (YoY).
• GVK Power & Infrastructure Jan-Mar net loss 1.42 cr rupees vs 2.24 cr rupees loss (YoY).
• IRB Infrastructure Jan-Mar net profit 120 cr rupees vs 103 cr rupees (YoY).
• Arvind Jan-Mar net profit 62.52 cr rupees vs 56.07 cr (YoY).
• Zydus Wellness Jan-Mar cons net profit at 23.49 cr rupees vs 18.81 cr rupees (YoY).

EX- Dividend + Board Meeting -


EX- Dividend – Goodyear India, Hexaware Tech, National Oxygen.

Board Meeting (Purpose) – Priya (Dividend), AGCNET (Dividend), PTL Enterprises (Dividend), HEG (Dividend), Apcotex Inds (Dividend), Apollo Tyres (Dividend), JUBL FOOD (Dividend), Cadila Health (Dividend), Canara Bank (Dividend), Sintex Inds (Dividend), Kewal Kiran (Dividend), Dewan Housing (Dividend), Lupin (Dividend), Futuristic Sec (Dividend), Futuristic Sol
(Dividend), Usha Martin (Dividend), NTPC (Dividend), Prism Cement (Dividend).