Nifty opened at 5820, a 12 point gap up in line with the global ques. However it got sold off to the lows of 5796 within few minutes after opening. The RBI mid-quarter review policy was more of a non event. The RBI governor kept all policy rates unchanged in line with street expectation, citing steep rupee depreciation in past 45 days. The markets made a low of 5770 near the the support of 5780 post policy and resumed its up trend. It made a high of 5855 near the resistance of 5860.
On the smaller time frame the market has given break out of Inverted Head and shoulders pattern with the target around 5920. But for this target to materialize it is very important for nifty to move above 5860-5880 levels. The AD ratio has been pretty weak through out the up move, which is a cause of concern. The support for nifty lies at 5795-5740-5680 and the resistance is at 5880-5955-5990.
Nifty June Future has been trading at 3-4 points discount to the spot.
The implied volatility on the Nifty June Options of ATM strike calls
were at 15.53 and for puts were at 20.38. India VIX closed at 18.18. PCR
for Nifty based on open interest was at 0.92 and PCR for the day based
on volumes was at 0.89 for the market.
CASH MARKET:
FII 1693.88 - 1858.98 = (165.1)Cr.
DII 1123.21 - 761.68 = 361.53 Cr.
FII DERIVATIVES MARKET:
| BUY | SELL | NET | |
| INDEX FUTURES | 1789.86 | 2110.75 | -320.89 |
| STOCK FUTURES | 2167.46 | 1690.35 | 477.11 |
CORPORATE ACTION:
| Ex-Date | Company | Purpose |
| 18-Jun-13 | Kokuyo Camlin Limited | Annual Book Closure |
| 18-Jun-13 | CMC Limited | Annual General Meeting / Dividend Rs.17.50 Per Share |
Stocks In News:
Coal Ministry-Issues show cause notice to Jindal Steel & Power (JSPL) for 1.5 billion tonne Ramchandi coal block
-Issues show cause notice to Monnet Ispat , Tata Power and Jindal Photo for Mandakini coal block
Alert: Mandakini coal block jointly allotted to Monnet Ispat , Tata Power and Jindal Photo
Political Theater-Congress keen to woo Nitish Kumar, PM calls him secular leader
-Sushil Modi says split with BJP won't help JD(U)
Moody's-Affirms IDBI Bank 's deposit ratings at Baa3/P-3
-Lowers Central Bank 's baseline credit assessment to b1
-Affirms Central Bank's forex bank deposit rating to Baa3/Prime-3
Union Official talks between TCS management to be held ( TCS in news earlier, this event might take place today)
-TCS may announce job cuts at Finland Unit today
Other stocks and sectors that are in news today:-SEBI may clear Jet -Etihad deal sans open offer Mint (Etihad has diluted stance over management control in fresh filing)
- Bharti Airtel hives off data centre, may sell stake Reports
- Max India seeks nod to hive off its speciality films division
-Ex-Dividend: Kansai Nerolac AGM Rs 11/share
Cabinet reshuffle-Mallikarjun Kharge appointed new railway minister
-Sis Ram Ola gets labour & employment portfolio
-Oscar Fernandes gets road transport & highways portfolio
-Girija Vyas gets housing & poverty alleviation portfolio
-KS Rao gets textiles portfolio
-Manikrao Gavit is new MoS, social justice & empowerment
-Santosh Chowdhury is new MoS, health & family welfare
-ENS Nachiappan is new MoS, commerce & industry
-JD Seelam is new MoS, finance
-PM says 'have always believed that we will have a third go as UPA'
-PM says ‘always believed people will again repose their faith in us’
Finance Minister-FDI caps could be revisited
-Can curb current account deficit (CAD) by restricting gold demand
-Financing current account deficit remains major concern
-Confident can fund current account gap without forex reserve
-Working to operationalize 215 stalled infra projects
-US economy showing some signs of revival
-India remains desired destination for FIIs & FDI
SEBI board: Sources-To mull share buyback rule changes
Alert: SEBI board meet scheduled for June 25
-May mandate utilising minimum 50 percent of earmarked funds for buyback
-Buyback may have to be completed in 6 months
-Companies may have to keep 25 percent of buyback funds in escrow account
-Penalty at 2.5 percent on escrow fund for not buying back 50 percent
-Companies cannot raise capital for 1 year post buyback closure
-May allow 1 year cooling off period between 2 buybacks
-Tender offer method compulsory for buyback of networth more than 15 percent
-Promoters cannot do transactions during buyback period
-To plug loopholes for promoters hiking stake via preferential issues
-To seek disclosures on fund source of allottees
-Allottees to subscribe to preferential issues from own bank account
-Issuing company to disclose control/ownership
-No extra disclosures if allottee listed company or MF
-Big fillip for SMEs, start ups at SEBI board meet
-To mull listing of SMEs, start ups without IPO on SME platfform
-Separate SME platform for only informed investors
Alert: FM in budget speech promised listing of SMEs, start up companies
-Companies for listing to not be older than 10 years
-Companies for listing to not to have revenue more than Rs 100 crore
-Eligibility norms may say paid up capital of not more than Rs 25 crore
-Receiving project financing in in last 3 years also an eligibility criterion
-Promoter lock-in of 3 years to extent of 20 percent of shares at listing time
-No capital raising at time of listing
-Can raise capital post listing via private placement, rights issue
Stocks In Ban Period:
HDIL
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