Daily Report-01-02-2013

Markets opened lower and initially traded in a narrow band but witnessed selling pressure in the latter half of the session which led the indices to close in red. On the sectoral front Bankex and Oil & Gas ended on the losing side whereas Realty and PSU ended on the gainers side. The advance decline ratio was in favour of advancing counters (Advances = 1093/ Declines=1066).

Pattern Formation: On the Daily chart, we are observing a narrow range body formation which has tested the 20-day EMA.Future Outlook: The current price action on the daily chart suggests that markets are circumspect at current levels. In coming trading session if indices for first hour close below 6025 then it may test 6000 – 5950 levels. On the upside 6100 – 6120 may act as resistance
for the day.

We reiterate our view that, 6120 remains strong resistance for the market and as long as nifty does not trade above 6120 level, one should trade with negative bias in this market.



Data Alert From Overseas  -
* Spanish Manufacturing PMI at 1:45 pm.
 *US Unemployment Rate at 7:00 pm.


Domestic Stock Specific News  –
* India revises FY12 GDP growth to 6.2% from 6.5% earlier
* ONGC forks out 124.3 bln rupees subsidy Oct-Dec, Oil India 19.5 bln
* Telecom dept invites applications for second round of 2G auction
* Jet Air continuing talks with UAE's Etihad for likely share sale
* Source says Coal India arm talking to users to up coking coal price
* PNB cuts Base Rate by 25 bps to 10.25% effective Feb 9
* Cement cos look to up prices Fri even as demand remains subdued
* DLF to sell 150-MW Gujarat wind energy ops for 2.82 bln rupees
* JK Paper eyes opportunity in corrugated packaging
* Bharti Infra Oct-Dec PAT up 31% on other income; margin also rises
* Den Networks aims to sell 3 mln set-top boxes Jan-Mar, up 233% QoQ
* Minister says Cabinet approves revival package for Scooters India
* Axis Bank raises 47.26 bln rupees via QIP issue of shares
* L&T  says construction unit got orders 14.01-bln-rupee orders in Jan
* Four Soft launches web-based freight optimiser solution 4SePlanner.


International News  -
* Germany retail turnover in December 2012 decreased 1.9% in nominal terms and 4.7% in real terms compared with the corresponding month of the previous year.

Today’s Result –
3I Infotech, Adani Enter, Aditya Birla Money, Autoline Inds, Bhagwati Auto, Bharti Airtel,  BHEL, Century Ply, Conart Engr, Corporation Bank, Country Cond, DCM Shriram Cons, DFM Foods, Diamines & Chem, Dutron Poly, Eco Recycling, First Leasing, Godfrey Phil, Graphite India, GREYCELLS, Hindustan Const, IDFC, India Home Loan, Indianivesh, Jay Shree Tea, Jet Air India, Kalyanpur Cem,  Karur Vysya Bank, Kokuyo Camlin, Krypton Inds, Lakshmi Mills, Mahindra Ugine, Marico,  MCX, Mefcom Capital, NELCO, Pioneer Dist, Piramal Life, Ponni Sugar Erod, S R K Inds, Sagar Systech, Servalakshmi Paper,Shirpur Gold, Sibar Auto, State Bank BikJpr, Tanfac Inds, TCI Finance, Technocraft, TTK Healthcare, TVS Motor, Wellness Noni.

EX- Dividend  + Board Meeting -


EX- Dividend  – Gandhi Spec, Indiabulls Fin,  Torrent Pharma, Transport Corp.

Board Meeting (Purpose) – Associated Marm (General ). Malabar Trad (General), Shrenuj  (General), SRG Hsg Fin (General).


STOCKS IN NEWS


OIL India offer for sale today, floor price set at Rs 510/share, government to
 divest 10 percent stake

SC to hear PNGRB, Indraprastha Gas case on Friday

Jindal Steel makes USD 232.65 million bid to acquire Gujarat NRE Coking Coal

Pipavav Defence to sell 26 percent stake, clutch of corporate majors said to be in race

Global investors not buying India story, not a single retail FDI proposal has come in since-
 FDI in retail was opened up

ONGC Videsh (OVL) to battle out with other Oil majors for Videocon’s 10 percent stake
 in Mozambique block

Legal battle brews for Indian Hotels (IHC) as company gets eviction notice for Taj Mumbai