Nifty opened with a big gap down opening of 50 points at 5709 in line with the very weak global market sentiments. The important support of 5730 was broken with a bang and nifty tested 5690 support. The sharp bounce from 5697 took nifty towards the resistance of 5730 and the markets were sold off. Nifty drifted lower after the Finance minister tried to sooth the sentiments. The efforts were in vain and market hit new low of 5683. The area of 5680-5690 is support from where nifty had previously rallied 2%. This provided short term support for the markets and nifty pulled back to close near the 5700 mark.
The market movement has been pretty range bound barring the gap down opening. It is important to see if this gap is filled quickly or not. A quick fill will indicate that a short term bottom is in place and nifty is ready to move up. If markets drift lower without any attempts to move up then the lower lows can be seen in the near future.
The nifty has resistance at 5730-5785-5845 levels and the support is around the levels of 5680-5640-5600-5570. Nifty is still falling in the channel previously mentioned and now has to break the levels of 5735.
Nifty June Future has been trading at 6-7 points premium to the spot. The implied volatility on the Nifty June Options of ATM strike calls were at 16.70 and for puts were at 20.42. India VIX closed at 19.44. PCR for Nifty based on open interest was at 0.93 and PCR for the day based on volumes was at 0.9 for the market.
Cash Market:
FII 2460.85 - 3018.91= ( 558.06 )Cr.
DII 1691.25 - 977.48 = 713.77 Cr.
FII Derivatives Market:
Stocks in news:
BSE to shift 54 stocks to 'T' category; NSE to move 17 scrips effective today
-Scrips include Sun Pharma Advanced Research & Salora International
Infosys announces salary increments for FY14- Infosys announces average increase of 8 percent for employees based in India
Infosys says -Employees in other geographies may get average hike of 3 percent
-Global sales force will get average hike of 8 percent effective May 1, 2013
N Murthy to employees-Not interested in becoming CEO
-Non performers, bench to prove worth to continue at Infosys
-Company to have new performance evaluation scheme
-Will continue to focus on end-to-end solutions
-Focus on large deals will be rectified
-Will support SD Shibulal, Kris Gopalakrishnan in everything
Infosys says
-SEBI has sought clarifications relating to June 1 board meet
-'Have provided information sought by SEBI'
-'Will fully co-operate with SEBI'
-'Will provide all necessary information in this matter'
Wipro
-Gets fresh tax demand of Rs 816 crore: PTI
Wipro says-No demand has been received & assessment process in progress
-To file objections before dispute resolution panel
May auto sales-Total JLR ( Tata Motors subsidiary) sales up 12 percent at 32,477 units (Y-o-Y)
- M&M arm Ssangyong's total sales up 25.3 percent at 12,730 units (Y-o-Y)
Jet Airways
-FIPB to meet today to consider Jet Etihad deal
-Appoints Gary Kenneth Toomey as its new CEO
Apollo Tyres CEO to CNBC-TV18:
-Company has ring-fenced itself for Cooper Tire acquisition
-Company has taken a loan of USD 450 million on its books
-Total debt of USD 2.1 billion on books of Vredestein & Cooper
-Out of USD 2.1 billion debt, about USD 1.9 billion to come from bond market
-Remaining USD 200 million will be asset based loan
-Total debt-equity ratio for company would be 1.9 post deal
-No pension liabilities for Cooper that will impact company
-To have access to high margin markets of US and Europe post deal
-Apart from developed markets, company to have ownership over 3 brands
Alert brands include Apollo, Vredestein & Cooper
-Post acquisition, company to be present across product lines
MMTC offer for sale (OFS) subscribed 1.54 times Govt says
-Raised Rs 568 crore via MMTC divestment
-MMTC OFS got bids from FIs, retail investors and some FIIs
Govt on MMTC OFS
-Insurance companies' participation at 65 percent
-Banks' participation at 21 percent, retail investors' at 14 percent
Tata Coffee
-Sharad Shah sells 1.08 lakh shares at Rs 892 a share
- Kotak Mahindra prime sells 3 lakh shares at Rs 880
- Reliance MF buys 1 lakh shares at Rs 880
Apollo Pharmacy on Ranbaxy
-Have been working with company over past week to validate necessary documents
-Company provided batch quality certification for products certified by GoI
-Reports completely satisfy quality norms stipulated by WHO-GMP, Pharma Department & GoI
-Glad that issue has been resolved
-To continue to stock & dispense company’s products across pharmacies
Govt sources say -Likely to divest stake in Hindustan Copper this month: cogencis
-To float cabinet note on National Fertiliser divestment next week: cogencis
Infosys arm
-Gets managed services contract from CareFirst BlueCross
-To offer IT support, application development to CareFirst
Other stocks and sectors that are in news today:-NSE to suspend trading in KS Oil shares from June 21 on listing norm non-compliance
- Reliance Communications in talks to sell DTH biz to Sun group for Rs 2500 crore
- Kesoram Industries rights issue of 6.4 crore shares at Rs 65/share, to raise Rs 416 crore
-Supreme Court defers hearing in plea against Ranbaxy manufacturing license to next week
IMD says -Monsoon rains 35 percent above average in the week to June 12
-Monsoon rains above average over drought hit states in Southern India & Western Maharashtra
-Monsoon rains below average in corn growing Eastern state of Bihar
-June 1-13 Rainfall 65.0 mm; 28 percent above Normal
Stocks in Ban Period
HDIL
Corporate Action:
The market movement has been pretty range bound barring the gap down opening. It is important to see if this gap is filled quickly or not. A quick fill will indicate that a short term bottom is in place and nifty is ready to move up. If markets drift lower without any attempts to move up then the lower lows can be seen in the near future.
The nifty has resistance at 5730-5785-5845 levels and the support is around the levels of 5680-5640-5600-5570. Nifty is still falling in the channel previously mentioned and now has to break the levels of 5735.
Nifty June Future has been trading at 6-7 points premium to the spot. The implied volatility on the Nifty June Options of ATM strike calls were at 16.70 and for puts were at 20.42. India VIX closed at 19.44. PCR for Nifty based on open interest was at 0.93 and PCR for the day based on volumes was at 0.9 for the market.
Cash Market:
FII 2460.85 - 3018.91= ( 558.06 )Cr.
DII 1691.25 - 977.48 = 713.77 Cr.
FII Derivatives Market:
| BUY | SELL | NET | |
| INDEX FUTURES | 1565.80 | 2049.79 | -483.99 |
| STOCK FUTURES | 1559.19 | 1554.96 | 4.23 |
Stocks in news:
BSE to shift 54 stocks to 'T' category; NSE to move 17 scrips effective today
-Scrips include Sun Pharma Advanced Research & Salora International
Infosys announces salary increments for FY14- Infosys announces average increase of 8 percent for employees based in India
Infosys says -Employees in other geographies may get average hike of 3 percent
-Global sales force will get average hike of 8 percent effective May 1, 2013
N Murthy to employees-Not interested in becoming CEO
-Non performers, bench to prove worth to continue at Infosys
-Company to have new performance evaluation scheme
-Will continue to focus on end-to-end solutions
-Focus on large deals will be rectified
-Will support SD Shibulal, Kris Gopalakrishnan in everything
Infosys says
-SEBI has sought clarifications relating to June 1 board meet
-'Have provided information sought by SEBI'
-'Will fully co-operate with SEBI'
-'Will provide all necessary information in this matter'
Wipro
-Gets fresh tax demand of Rs 816 crore: PTI
Wipro says-No demand has been received & assessment process in progress
-To file objections before dispute resolution panel
May auto sales-Total JLR ( Tata Motors subsidiary) sales up 12 percent at 32,477 units (Y-o-Y)
- M&M arm Ssangyong's total sales up 25.3 percent at 12,730 units (Y-o-Y)
Jet Airways
-FIPB to meet today to consider Jet Etihad deal
-Appoints Gary Kenneth Toomey as its new CEO
Apollo Tyres CEO to CNBC-TV18:
-Company has ring-fenced itself for Cooper Tire acquisition
-Company has taken a loan of USD 450 million on its books
-Total debt of USD 2.1 billion on books of Vredestein & Cooper
-Out of USD 2.1 billion debt, about USD 1.9 billion to come from bond market
-Remaining USD 200 million will be asset based loan
-Total debt-equity ratio for company would be 1.9 post deal
-No pension liabilities for Cooper that will impact company
-To have access to high margin markets of US and Europe post deal
-Apart from developed markets, company to have ownership over 3 brands
Alert brands include Apollo, Vredestein & Cooper
-Post acquisition, company to be present across product lines
MMTC offer for sale (OFS) subscribed 1.54 times Govt says
-Raised Rs 568 crore via MMTC divestment
-MMTC OFS got bids from FIs, retail investors and some FIIs
Govt on MMTC OFS
-Insurance companies' participation at 65 percent
-Banks' participation at 21 percent, retail investors' at 14 percent
Tata Coffee
-Sharad Shah sells 1.08 lakh shares at Rs 892 a share
- Kotak Mahindra prime sells 3 lakh shares at Rs 880
- Reliance MF buys 1 lakh shares at Rs 880
Apollo Pharmacy on Ranbaxy
-Have been working with company over past week to validate necessary documents
-Company provided batch quality certification for products certified by GoI
-Reports completely satisfy quality norms stipulated by WHO-GMP, Pharma Department & GoI
-Glad that issue has been resolved
-To continue to stock & dispense company’s products across pharmacies
Govt sources say -Likely to divest stake in Hindustan Copper this month: cogencis
-To float cabinet note on National Fertiliser divestment next week: cogencis
Infosys arm
-Gets managed services contract from CareFirst BlueCross
-To offer IT support, application development to CareFirst
Other stocks and sectors that are in news today:-NSE to suspend trading in KS Oil shares from June 21 on listing norm non-compliance
- Reliance Communications in talks to sell DTH biz to Sun group for Rs 2500 crore
- Kesoram Industries rights issue of 6.4 crore shares at Rs 65/share, to raise Rs 416 crore
-Supreme Court defers hearing in plea against Ranbaxy manufacturing license to next week
IMD says -Monsoon rains 35 percent above average in the week to June 12
-Monsoon rains above average over drought hit states in Southern India & Western Maharashtra
-Monsoon rains below average in corn growing Eastern state of Bihar
-June 1-13 Rainfall 65.0 mm; 28 percent above Normal
Stocks in Ban Period
HDIL
Corporate Action:
| Ex-Date | Company | Purpose |
| 14-Jun-13 | Prism Cement Limited | Annual General Meeting |
| 14-Jun-13 | Grindwell Norton Limited | Annual General Meeting / Final Dividend Rs.6.50/- Per Equity Share |
| 14-Jun-13 | Syndicate Bank | Annual General Meeting And Dividend Rs.6.70/- Per Share |
| 14-Jun-13 | VIP Industries Limited | Annual General Meeting And Dividend @ Re 1 Per Equity Share |
| 14-Jun-13 | Nakoda Limited | Annual General Meeting And Dividend Re.0.25 Per Share |
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