03-07-2012

Markets opened on a subdued note  traded  in a narrow band throughout the day to close flat. On the  sectoral  front Realty, Consumer Durable and PSU ended marginal gains whereas FMCG and  Auto  ended on the losing side. The advance decline ratio was in favour of advancing counters (Advances = 1807/ Declines=1033).

Pattern Formation: On the Daily chart, after a strong bull candle we are observing a narrow range body formation. This suggests consolidation of previous rise. 



Future Outlook: Broadly, after a breakout of major congestion zone in the range of 5185 – 5050 level, we are observing consolidation of previous rise. Hence a small pull – back in the range of 5225 – 5200 
level cannot be ruled out. On the upside if nifty manages to trade convincingly above 5302 level then it may test 5350 – 5370 level. 



Data Alert From Overseas  -
•  Europe PPI m/m at 2:30 pm.•  Factory Orders m/m  at 7:30 pm.


Domestic Sector News –
• AVIATION:  State-owned oil marketing companies cut price of aviation turbine fuel by average 1,253.74 rupees per kL in four metropolitan cities, effective Sunday.
• BANKS: Banks to extend working capital loans for two years as against one year now to all  companies that have got approval for corporate debt restructuring.
• POWER: The Andhra Pradesh government has decided to allow photovoltaic power plant developers to avail the facility of Renewable Energy Certification for solar power projects.



Domestic Stock Specific News  -• ASTRAZENECA PHARMA INDIA: Will collaborate with US' Cellworks Group to accelerate the treatment of drugsensitive and resistant tuberculosis. • BENGAL TEA & FABRICS: Strike at the company's Ahmedabad unit has been called off.• COAL INDIA: Prime Minister's Office allows company to lower fuel supply commitment to 65%, but hikes penalty to up to 40% from 0.01% of value of coal in case of failure to meet supply obligation• ELECON ENGINEERING: Has received a 1.04-bln-rupee order from BHARAT HEAVY ELECTRICALS.• ELECTROTHERM INDIA: Deal to sell its ductile iron pipe business to France's Saint Gobain has fallen through due to delay in statutory approvals.



International News  -• Unemployment in the 17 country euro currency bloc hit another record in May, rose to 11.1% in May from 11% the previous month.


Securities in Ban For Trade Date 03-07-2012•Onmobile,• Suzlon


Today’s Result –
Fert & Chem Trv, Galaxy Conso


EX- Dividend  + Board Meeting -
EX- Dividend  - Atul Auto, Kaira Can, Welcast Steel.
Board Meeting (Purpose) – Compulearn (General), USG Tech (Preferential Issue of shares).