Nifty Daily For 28th august 2013

                Nifty opened with a gap down of 50 points on weak global ques and the various activities on domestic front. The reduction of FII share holding limits by SEBI has been a big dampener. There has been big rejig in the MSCI index leading to exclusion of pros like Axis bank, IDFC etc. The passage of Food security bill in Lok Sabha has made the weary foreign investors nervous about the possible widening CAD. The banks are sold like there's no tomorrow with bank nifty down 5.3%. The indices are very oversold and a relief rally is due as long as 5200-5180 is protected and the target lies around 5650-5700. 

                The support for nifty is at 5215-5188-5130 and the resistance lies at 5346-5401-5443. Nifty August Future has been trading at 2-3 points discount to the spot. The implied volatility on the Nifty August Options of ATM strike calls were at 28.51 and for puts were at 33.41. India VIX closed at 29.42. PCR for Nifty based on open interest was at 0.89 and PCR for the day based on volumes was at 0.92 for the market.

Cash Market:

FII              2936.12 - 4310.11  =  (1373.99) Cr.

DII            1713.12 - 1232.62  =   480.5 Cr.

FII Derivatives Market:

In Cr.	Buy	Sell	Net
INDEX FUTURES	6445.35	6987.49	-542.15
INDEX OPTIONS	32693.00	32833.00	-139.99
STOCK FUTURES	9512.71	9112.45	400.26
STOCK OPTIONS	872.40	875.78	-3.38

Corporate Action:

Ex-Date	Company	Purpose
28-Aug-13	Unity Infraprojects Limited	Annual General Meeting / Dividend - Re 0.20/- Per Share
28-Aug-13	Punjab Chemicals & Crop Protection Limited	Annual General Meeting
28-Aug-13	Rural Electrification Corporation Limited	Annual General Meeting And Dividend Rs.1.50 Per Share
28-Aug-13	Precot Meridian Limited	Annual General Meeting / Dividend Re.1/- Per Equity Share (Bc Dates Revised)
28-Aug-13	The Lakshmi Mills Company Limited	Annual General Meeting And Dividend Rs.12/- Per Share
28-Aug-13	Wyeth Limited	Annual General Meeting And Dividend Rs.17/- Per Share
28-Aug-13	Pfizer Limited	Annual General Meeting / Dividend - Rs 12.50/- Per Share + Special Dividend - Rs 20/- Per Share

Stocks In News:**

Wipro  to replace Reliance Infrastructure  in Nifty from September 27Alert: Wipro was excluded from Nifty due to demerger of non-IT business
Alert: No Anil Dhirubhai Ambani Group (ADAG) stock in Nifty after Infrastructure's exclusion

Jindal Steel & Power  (JSPL)
-To consider buy-back of shares on August 30
-Sushil Maroo quits as Deputy MD, Director

Foreign Investment Promotion Board (FIPB) clears
-Mylan's USD 1.85 billion investment in Strides Arcolab 
-All pending brownfield pharma investments
-Symbiotec Pharma’s acquisition by Actis for Rs 306 crore
-Lotus Surgicals’ acquisition by Samara Capital for Rs 150 crore

National Spot Exchange (NSEL) says
-Will clear pay-out of Rs 177.23 crore to small investors
-Total pay-out would be about Rs 190 crore
-Availed bridge loan worth Rs 177.23 crore from Financial Technologies  (FTIL)
-To also make pay-out of Rs 12.6 crore under settlement plan
-608 investors, owed Rs 2 lakh each, would get 100 percent payment
-6,380 investors, owed between Rs 2-10 lakh, to get 50 percent payment
-Actively pursuing recovery from members with outstanding dues

On CNBC-TV18 - Forwards Market Commission (FMC) chairman-'NSEL has defaulted again'
-NSEL has done payments from outside escrow account
-Procuring all required data before taking matter to ministry

FMC chairman-Transaction not part of regular settlement cycle
-It is FTIL board’s decision to make payment of Rs 177 crore
-Settlement default in regular cycle continues, deficit exists

Hathway Cable  (CMP Rs 268)
-Company allots 35.21 lakh shares on preferential basis at Rs 284/share to FIIs
FIIs allotted includes -Steadview Capital Mauritius: 12 lakh shares
-LTR Focus Fund: 8.01 lakh shares
-Massachusetts Institute of Technology: 15.20 lakh shares

Ex-Dividend- Pfizer  : Rs 12.5/sh and special dividend at Rs 20/share
- Wyeth  : Rs 17/share

Other stocks and sectors that are in news today:-Lenders advice Lanco Infratech  to recast entire group debt of Rs 40000 crore: ET
-AV Birla group to buy Jaiprakash Associates  ' cement unit for Rs 3500-3700 crore, deal announcement expected next week: Reports
-Novartis arm, Panacea Biotec  ends 8-year old vaccine JV: ET
- Bharti Airtel  likely to name new chief for its African operations
- Crisil to sell 49 percent stake in JV company for Rs 100 crore

Commerce ministry notifies task force on currency swapTask force on currency swaps
-To be chaired by commerce secretary
-To have Department of Economic Affairs (DEA), Department of Financial Services (DFS), commerce ministry officials as members
-To have RBI & SBI representatives as members
Task force terms:
-Examine implication of currency swaps on trade, financial system
-Study pros & cons of currency swap
-Explore possibility of currency swap with identified countries

Reliance Infrastructure AGM Anil Ambani says
-All projects will be operations & start earning revenues by FY14
-Have built 18 infrastructure projects including 11 railway projects
-5 mt plants in Madhya Pradesh will begin operations in next few months
-Delhi metro - arbitration has begun
-Will begin commercial operations of Mumbai metro by end of this year
-11 road projects operational

Reliance Power  AGM Anil Ambani says -Current challenges of power sector are fuel & coke
-Major delays in land acquisition
-Rupee depreciation will impact large scale power projects
-‘All our plants are domestic coal-based’
-All coal resources are tied up with domestic sources
-'On our way to complete Sasan Power Project'
-Total investment in Jharkhand Tilaiya project at more than Rs 40,000 crore
-Plan to scale up wind power business
-To make Rs 10,000 crore investment in hydro project in Arunachal Pradesh

RBI -Floats paper on way forward for banking structure in India
-Seeks views on raising competition among banks
-Favours continuous authorisation policy for giving bank licences

RBI says
-Bank structure reorientation aim to impact dynamism, flexibility
-Case for reviewing current ‘stop & go’ bank licensing policy
-Bank consolidation on synergies welcome, must not be imposed
-Separate licence for infrastructure, wholesale, retail banks desirable
-New banking structure may comprise 4 tiers
-Foreign banks’ local incorporation via subsidiaries important

Govt files affidavit justifying allocation of 164 coal blocksGovt to SC:
-108 blocks allocated through screening committee to government, private companies
-56 blocks allotted to government PSUs under government dispensation
-12 blocks allotted to ultra mega power projects and 2 blocks for CTL
Alert: CTL is coal to liquid technology
-35 coal blocks are in production as of March 2013
-Out of 43 files sought by CBI, government has handed over 21 files
-CBI has been requested to collect rest 15 files
-Out of 19 applications for coal block, 3 applications handed to CBI
-Remaining applications to being searched by coal ministry
-Clarifications sought by CBI in 9 cases to be made available soon
-Coal ministry reviewing each allocated coal block
-Coal ministry appointed panel assessed investment in coal blocks

Oil Minister Veerappa Moily says -'Not thinking of fuel price hike as of now’
-Diesel revenue loss a serious concern
-No plan to up kerosene, subsidised LPG price as of now
-Every rupee depreciation hikes under-recoveries by Rs 8,000 crore
-Drafting plans to bring down fuel import bill

Stocks in Ban Period:

HDIL

Source:**moneycontrol.com , nseindia.com