Nifty daily for 03rd July 2013

            Nifty has finally taken a breather after the exponential move over past 3 days of 300 points. Nifty took resistance at previous days closing of 5898 and dropped to the lower support of 5850. This is the first day on which nifty has closed in red down 40 points. As long as nifty does not break the low of previous day the upward momentum remains intact with the targets of 5925-5960. The nifty will start correcting once it tests the 50 DMA of the entire up move from 5566 to 5904.
           The support for nifty is at 5830-5800-5786 and the resistance lies at 5900-5929-5976. Nifty July Future has been trading at 2-3 points premium to the spot. The implied volatility on the Nifty July Options of ATM strike calls were at 14.04 and for puts were at 20.30. India VIX closed at 18.21. PCR for Nifty based on open interest was at 1.25 and PCR for the day based on volumes was at 0.99 for the market.
          
Cash Market;
FII               2301.07 - 2344.27 = (43.2) Cr.

DII              993.01 - 1118.34 = (125.33) Cr.


FII Derivatives Market;
 

	BUY	SELL	NET Cr.
INDEX FUTURES	1160.47	1314.59	-154.12
INDEX OPTIONS	8294.91	9093.50	-798.59
STOCK FUTURES	1836.79	1750.00	86.79
STOCK OPTIONS	782.10	823.71	-41.61

Corporate Action:

Ex-Date	Company	Purpose
03-Jul-13	PNB Gilts Limited	Bonus 1:3
03-Jul-13	TTK Prestige Limited	Annual General Meeting/Dividend Rs 17.50/- Per Share (Bc End Date Revised)
03-Jul-13	Kesar Terminals & Infrastructure Limited	Annual General Meeting And Dividend Rs.3/- Per Share
03-Jul-13	Ashoka Buildcon Limited	Bonus 1:2 And Face Value Split Rs.10/- To Rs.5/-
03-Jul-13	Kolte - Patil Developers Limited	Annual General Meeting/Dividend Rs 1.50/- Per Share

Stocks In News:
Competition Commission of India (CCI) raises fresh query from Jet Airways over Jet-Etihad deal: Sources
-Central Vigilance Commission (CVC) to seek information from government on Jet-Etihad deal: Sources
-Ministry of Civil Aviation (MoCA) to provide clarifications on various aspects
-Some Members of Parliament (MPs) have complained to CVC on Jet-Etihad Deal
-MPs also complain on sale of slots at Heathrow airport
Alert: Etihad paid USD 70 million to Jet for 3 pairs of landing, departure slots
-MPs allege such slots cannot be transferred without government nod
-MPs allege slots are only for designated carriers
-MPs allege no prior nod by MoCA for slot sale
-MPs allege Jet Airways cannot sell nominated slots

Jet Airways slots at Heathrow not negotiated under bilateral agreement: Sources
-India-UK bilateral agreement only allows entry, exit and frequency of flights
-India-UK bilateral only grants ability to land and take-off
-Airlines require negotiating independently with UK Airports
-Slots bought over time in conjunction with UK CAA, BAA nod
-Bought 2 pair of slots from United Airlines, 1 pair from Gulf Carrier
-Informed MoCA; needed RBI nod for forex transaction
-Etihad money from sale and lease back of Heathrow slots already received by Jet post RBI nod
Alert: Jet entered into 5-year deal for sale and lease back of 3 pairs of slots at Heathrow

Prime Minister's Office (PMO) on Jet-Etihad Deal:
-Clarifies on India-UAE bilateral air services agreement
-No disagreement within government
-PM not washing his hands off bilateral air services agreement
-Not trying to do a U-turn on deal
-Received complaints regarding deal
-Referred complaints against deal to Ministries
-Cabinet secretary examining security concerns on deal

PMO on action taken:
- Jet -Etihad equity stake referred to MoCA, Department of Industrial Policy and Promotion (DIPP), DEA & MCA

Divestment Secretary says ( Hindustan Copper CMP at Rs 72.35/sh)
-Empowered group of ministers (EGoM) approves 4.01 percent divestment in Hindustan Copper
-Hindustan Copper offer for sale to be held today
-Government sets floor price at Rs 70/share for 4.01 percent divestment
Alert: Govt holds 94.01 percent stake in Hindustan Copper

Telecom Commission approves 100 percent FDI in telecom services       Sources say
-Department of Telecommunication (DoT) to move cabinet note soon
-100 percent FDI not likely via automatic route
Alert: Up to 49 percent FDI via automatic route in telecom; 74 percent via approval 

60 day (The Securitization and Reconstruction of Financial Assets and Enforcement of Securities) SARFAESI notice to Kingfisher Airlines (KFA) expires today -Banks to begin selling KFA properties

SAIL April-June
-Saleable steel output up 6 percent at 3.2 mt (YoY)
-June Saleable steel output up 7 percent at 1.08 mt (YoY)
SAIL says
-Expect hot metal capacity to rise to 19 mt by FY15-end

Govt says -Tamil Nadu offer to buy 5 percent in Neyveli Lignite sent to SEBI        
-SEBI to see if Tamil Nadu offer meets public shareholding norm

IOC offer for sale (OFS) likely to be held next month: Sources
-Finance ministry in process of appointing bankers for IOC OFS

Ashoka Buildcon
-Bonus issue in ratio of 1:2
-Stock split from Rs 10 to Rs 5

Centrum Finance
-Bonus issue in ratio of 5:1
-Stock split from Rs 10 to Re 1

Ex Dividend
- Kolte-Patil Rs 1.5/share
- TTK Prestige Rs 17.50/share

Other stocks and sectors that are in news today:- Hindustan Unilever (HUL) open offer closes tomorrow
- Ambuja Cements , ACC to be merged in Holcim rejig ET
-Reliance Digital close to sell 80 percent stake to Sun for Rs 2500 crore BS
- Bajaj Auto moves Pulsar production out of Aurangabad BS
-Jindal Steel & Power (JSPL) to invest Rs 24000 crore by FY15 on expansion: PTI
- IRB Infrastructure promoter creates pledge on 55 lakh shares in company
- Adani Ports and MSC Mediterranean Shipping form JV to operate new container terminal in Mundra
- Kalindee Rail board meets on July 5 to consider raising fund via preferential issue
- Maruti Suzuki introduces sporty version of Swift RS
-Lakshmi Overseas board to meet on July 5th to mull preferential allotment to promoters/group
-Govt exempts services provided to SEZs from service tax
-RBI Governor Subbarao and deputy governors to attend state-level bankers' committee meeting
-India loses Kashagan Oil Field to China
-Food Security Ordinance on cabinet agenda in today’s meet: PTI

RBI issues draft norm for bank provision on companies unhedged forex exposure-RBI issues norms on capital for banks' central counterparty exposure
-Norms on banks' central counterparty exposure effective January 1

Stocks In Ban Period:
NIL