Markets opened on a flat note traded in a narrow range
throughout the day to close marginally in red. On the sectoral front Power,
Realty, and Auto were on the losing side whereas IT and FMCG closed with
marginal gains. The Advance decline ratio was in favour of declining counters (Advances = 967/
Declines=1137).
Pattern Formation: On the Daily chart, for the third
consecutive trading session we are witnessing a narrow range body formation
which indicates cautious approach at current level.
Future Outlook:
Broadly, we are witnessing a sideways movement and there is no clear
trend emerging on the daily chart. Hence in coming trading session if nifty for
the first hour trades and close above
5220 level then it may test 5250 – 5280 levels. On the downside, we
maintain our stance that the 200-day SMA(5132level) remains crucial support level,
if breached on closing basis then further weakness to 5050 could be possible in
couple of trading sessions. One should adopt cautious approach towards the
market.
Data Alert From India
– Not Available
Data Alert From
Overseas –
• Bank of Japan Press Conference.
• French Consumer Spending m-o-m at 12:15.
• US Advance GDP q-o-q.
Domestic Sector News
–
• BANKING: The Cabinet has given its nod to The Banking Laws
(Amendment) Bill, 2011. The bill envisages raising cap on voting rights in
private banks to 26% for a single entity from 10% at present.
• ENERGY: India and Turkmenistan have agreed on pricing of
gas that will be imported via the Turkmenistan-AfghanistanPakistan-India
pipeline.
• MEDIA: The government may consider to raise foreign direct
investment cap to 74% from 49% for cable operator companies and direct to home
companies.
• POWER: The government may re-introduce incentives for the wind
energy sector to ally concerns over capacity addition during 2012-13. The
government had withdrawn two key incentives from Apr 1.
Domestic Stock
Specific News -
• Cabinet minister says no plan to deregulate diesel prices.
• Industry secy says consultations on FDI in aviation still
on.
• CMD says NMDC aims to nearly double iron ore output by
FY15.
• Gujarat Gas signs agreement with GSPC Gas for assets
exchange.
• Gujarat Fluorochemicals, Nahar Ind get carbon credits from
UN body.
• Strides buys S India sterile formulations unit for 1.25
bln rupee.
• Hinduja group's Gulf Oil Corp begins development of
Bengaluru SEZ.
• Inox Leisure to convert all its cinemas to digital
projection.
International News -
• In the week ending April 21, the advance figure for
seasonally adjusted initial claims was 388,000, a decrease of 1,000 from the previous
week's revised figure of 389,000.
Today’s Result –
Axisbank, Deltacorp, Digjam, HCC, Hexaware, ICICIBank,
Indiabulls, Jindalstel, Kajariacer, Kalindee, Ksbpumps, Lancoin, Mahapexltd,
Mahlife, Quintegra, Rpglife, Rsystems, SBT, Siemens, Tcpltd, Thinksoft,
Thomascook.
Results Announced
Yesterday ( Date 26-04-2012 ) –
•Kirloskar Oil Jan-Mar
net profit 56.61 cr rupees vs 47.61 cr
rupees (YoY).
• Bata India Jan-Mar
net profit 35.99 cr rupees vs 109.3 cr
rupees (YoY).
• Oil Country Jan-Mar
net profit 13.39 cr rupees vs 13.39 cr
rupees (YoY).
• L&T Finance Holdings Jan-Mar net profit 59.9 cr rupees vs 82.7 cr rupees (YoY).
• MRF Jan-Mar net profit
150.1 cr rupees vs 89.8 cr rupees (YoY).
• Strides Arcolab Jan-Mar consol net profit 642.07 cr rupees
vs 40.70 cr rupees (YoY).
• Vakrangee Soft Jan-Mar net profit 19.81 cr rupees vs 13.89 cr rupees (YoY).
• IDEA Jan-Mar net profit
238.98 cr rupees vs 274.52 cr rupees (YoY).
• Gujarat Gas Co
Jan-Mar net profit 65.17 cr
rupees vs 72.36 cr rupees (YoY).
• Vesuvius India
Jan-Mar net profit 11.56 cr rupees vs
13.03 cr rupees (YoY).
Board Meeting
(Purpose) – Ador Fontech (Dividend), Hindustan Const (Dividend), Ador Multi
(Dividend), ICICI Bank (Dividend), Indiabulls Fin (Dividend), RPG Life
(Dividend), Int Trvl House (Dividend), Jindal Steel (Dividend), Axis
Bank (Dividend), Kajaria Cerm (Dividend), Chowgule Steam (Dividend), Kirloskar
Ferro (Dividend), Stanrose Mafat (Dividend), Cinerad Comm (General), State Bank
Trav (Dividend), Delta Corp(Dividend), Swadeshi Inds (General), THINKSOFT
(Dividend), Mahindra Lifesp (Dividend), Gujarat Hotels ( Dividend), Hexaware
Tech ( Dividend).
