Nifty opened with a marginal gap up of 8 points but soon started moving up towards the 5528. The selling pressure took nifty lower to 5481 but once completely absorbed nifty scaled to new highs of 5564 and posted a firm gain of 79 points. The targets of 5600-5720 are in the sights now.The market has formed a Three white soldiers on daily charts indicating a consolidation in near term.
The support for nifty is at 5520-5466-5405 and the resistance lies at 5606-5665-5715.
Nifty September Future has been trading at 3-4 points premium to the spot. The
implied volatility on the Nifty September Options of ATM strike calls were at
22.31 and for puts were at 28.4. India VIX closed at 27.55. PCR for Nifty
based on open interest was at 1.51 and PCR for the day based on volumes was at
1.04 for the market.
Cash
Market:
FII 2513.48 - 2037.56 = 475.92 Cr.
DII 697.06 - 982.87 = (285.81) Cr.
FII
Derivatives Market:
| In Cr. | buy | sell | net |
| INDEX FUTURES | 1968.82 | 1987.14 | -18.32 |
| INDEX OPTIONS | 15343.68 | 14739.06 | 604.62 |
| STOCK FUTURES | 2180.18 | 1765.59 | 414.60 |
| STOCK OPTIONS | 453.62 | 458.10 | -4.48 |
Corporate
Action:
| Ex-Date | Company | Purpose |
| 03-Sep-13 | Ruchira Papers Limited | Annual General Meeting |
| 03-Sep-13 | National Buildings Construction Corporation Limited | Annual General Meeting / Dividend - Rs 3.75/- Per Share |
| 03-Sep-13 | Rajdarshan Industries Limited | Annual General Meeting |
| 03-Sep-13 | Tilaknagar Industries Limited | Annual General Meeting And Final Dividend Re.0.80 Per Share |
| 03-Sep-13 | Hero MotoCorp Limited | Annual General Meeting And Dividend Rs.60/- Per Share |
| 03-Sep-13 | Tanfac Industries Limited | Annual General Meeting |
| 03-Sep-13 | Compuage Infocom Limited | Annual General Meeting And Dividend Re.1/- Per Share |
Stocks
In News:**
Kingfisher Airlines (KFA): Agencies
-In talks with 1 investor for restart of operations
-Seeks USD 234 million damages from engine supplier IAE
-KFA says IAE supplied defective engines to company
M&M August
-Domestic tractor sales at 13,543 versus 17,771 units (MoM)
-Tractor exports at 615 units versus 698 units (MoM)
-Total tractor sales at 14,158 units versus 18,469 units (MoM)
-M&M arm Ssangyong Sales at 11,610 units in August, up 27.1 percent (YoY)
Escorts August auto sales
-Total tractor sales at 3,911 units versus 6,790 units (MoM)
-Domestic tractor sales at 3,823 units versus 6,743 units (MoM)
SBI
-Ups stake in Bank State Bank of India, Indonesia (BSBII) to 99 percent
-Buys 23 percent stake in BSBII from PT Ravindo Jaya
CBI opposes Shahid Balwa's plea in 2G spectrum case: PTI
Alert: Shahid Balwa sought exemption from personal appearance
Radico Khaitan
-Has begun preliminary talks to sell a minority stake to Japan’s oldest liquor co Suntory Holdings: ET
-The Japanese spirits major is expected to pay close to Rs 870 crore for 26 percent stake
Alert: Current market capitalisation of Rs 1600 crore; deal buzz values the company close to Rs 3500 crore
Other stocks and sectors that are in news today:- Bharti Airtel revises some post paid mobile rates effective September 8: PTI
- Financial Technologies in focus: NSEL’s third payout day today
- Hexaware Technologies open offer to begin on October 18, end on October 31
- SAIL August steel product sales at 1.09 mt versus 0.93 mt (YoY)
-RBI says: FIIs share purchase limit in Tech Mahindra raised to 35 percent
- Coromandel Engineering to mull rights share issue on September 5
- Religare Enterprises to acquire Macquarie stake in wealth management JV
-Telecom minister Kapil Sibal's meeting with telecom companies' leaders deferred till September 11: PTI
-BIFR approves merger of Bharat Heavy Plate & Vessels with BHEL
- Diamond Power bags order worth USD 30.48 million
- Bank of India sells 5.25 lakh shares of MCX at Rs 393/share
- NTPC set to aggressively bid for Rs 40000 crore worth of UMPPs in Orissa and Tamil Nadu: ToI
- DLF 's subsidiary DLF Brands has ended its agreement to sell Italian company Alcott’s collection: ET (Brand said to be not performing too well in India)
- Mahindra Lifespace plans to raise about Rs 400 crore funds by issue of shares to institutional investors (QIP Route): ET
- ACC to invest Rs 600 crore for setting up a 15 lakh tonne factory at Kharagpur: ET
- ONGC / Essar Oil - Both shortlisted to bid for development of Iraq’s USD 4.4-billion Nassiriya oil field and the construction of a new 3,00,000 barrels per day refinery: ET
-Supreme Court to hear GAIL Plea against Gujarat Petronet today (GAIL had filed petition seeking termination of gas sale agreement with GSPCL)
- Zensar Technologies has appointed an investment banker in New York to scout for acquisition between USD 25 million and USD 75 million in US: BS
Wockhardt Chairman Habil Khorakiwala
-Issues at Waluj plant an inexcusable lapse
-Have taken corrective and pre-emptive measures
-Appointed senior professional as head of quality
-Advisors & consultants to help adhering to good manufacturing practise (GMP) practices
-Initiated internal and external compliances training program
-Responded to US FDA's form 483 on Chikalthana plant
-Seeking meeting with USFDA and MHRA to discuss progress
-Drugs Controller General of India (DCGI) inspected Chikalthana plant, did not find any issues
-Revisiting plan to shift production from Waluj to Chikalthana
-Shifting new production filings from Waluj to Shendra
-Expecting USFDA inspections of Shendra in October 2013
-Laid quality compliance measures at Waluj
-To expand new quality systems across all plants
-Replaced company's head of quality, now reports directly to MD
Stocks
in Ban Period:
NIL
Source:**moneycontrol.com , nseindia.com
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