The index made a low around previous days low and the rally which emerged from that point was exactly opposite in spirit to previous day’s decline. The indices kept forming higher tops and higher bottoms in lower time frame charts and the sudden reversals with heightened volatility is indicative of a probable triangular development unfolding. On downside key support is 5320.
The supports in Nifty are placed around 5385 and 5320 whereas resistances are seen around 5495 and 5545. Nifty September Future has been trading at 10-11 points premium to the spot. The implied volatility on the Nifty September Options of ATM strike calls were at 26.25 and for puts were at 32.79. India VIX closed at 31.11. PCR for Nifty based on open interest was at 1.26 and PCR for the day based on volumes was at 1.16 for the market.
Cash
Market:
FII 2800.26 - 2627.73 = 172.53 Cr.
DII 970.18 - 1192.54 = (222.36) Cr.
FII
Derivatives Market:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 3924.31 | 3276.48 | 647.84 |
| INDEX OPTIONS | 19609.64 | 19816.00 | -206.36 |
| STOCK FUTURES | 2138.52 | 1820.65 | 317.87 |
| STOCK OPTIONS | 650.27 | 628.96 | 21.31 |
Corporate
Action:
| Ex-Date | Company | Purpose |
| 05-Sep-13 | Kohinoor Foods Limited | Annual General Meeting |
| 05-Sep-13 | Suzlon Energy Limited | Annual General Meeting |
| 05-Sep-13 | NRC Limited | Annual General Meeting |
| 05-Sep-13 | Supreme Industries Limited | Final Dividend - Rs 5.50/- Per Equity Share |
| 05-Sep-13 | Sudarshan Chemical Industries Limited | Annual General Meeting/Dividend Rs 12.50 Per Share |
| 05-Sep-13 | Religare Enterprises Limited | Annual General Meeting |
| 05-Sep-13 | MMTC Limited | Annual General Meeting / Final Dividend - Re 0.10/- Per Share |
| 05-Sep-13 | Jayant Agro Organics Limited | Annual General Meeting And Dividend Rs.2.25 Per Share |
| 05-Sep-13 | NTPC Limited | Annual General Meeting/Final Dividend Re.0.75 Per Share And Special Dividend Rs.1.25 Per Share |
| 05-Sep-13 | Pitti Laminations Limited | Annual General Meeting And Dividend Re.1/- Per Share |
| 05-Sep-13 | Kamat Hotels (I) Limited | Annual General Meeting |
| 05-Sep-13 | Morepen Laboratories Limited | Annual General Meeting |
| 05-Sep-13 | Cox & Kings Limited | Annual General Meeting / Dividend - Re 1/- Per Share |
| 05-Sep-13 | KRBL Limited | Annual General Meeting/Dividend Re 0.80/- Per Share |
| 05-Sep-13 | Thiru Arooran Sugars Limited | Annual General Meeting |
| 05-Sep-13 | Tourism Finance Corporation of India Limited | Annual General Meeting/Dividend Rs 1.20/- Per Share |
| 05-Sep-13 | Energy Development Company Limited | Annual General Meeting/Dividend Re 0.80/- Per Share |
| 05-Sep-13 | Power Grid Corporation of India Limited | Annual General Meeting / Dividend - Rs 1.14 Per Share |
| 05-Sep-13 | Talbros Automotive Components Limited | Annual General Meeting/Dividend Rs 1.20/- Per Equity Share |
| 05-Sep-13 | India Glycols Limited | Annual General Meeting / Final Dividend - Rs 2/- Per Share |
| 05-Sep-13 | Rainbow Papers Limited | Annual General Meeting / Dividend Re.0.40/- Per Equity Share |
| 05-Sep-13 | The Ugar Sugar Works Limited | Annual General Meeting/Dividend Re 0.20/- Per Share |
| 05-Sep-13 | Salona Cotspin Limited | Annual General Meeting |
| 05-Sep-13 | BEML Limited | Annual General Meeting / Dividend - Rs 2.50/- Per Share |
| 05-Sep-13 | Godfrey Phillips India Limited | Annual General Meeting And Dividend Rs.40/- Per Share |
| 05-Sep-13 | Jai Balaji Industries Limited | Annual General Meeting |
| 05-Sep-13 | GAIL (India) Limited | Annual General Meeting / Final Dividend - Rs 5.60/- Per Share |
| 05-Sep-13 | Idea Cellular Limited | Annual General Meeting And Dividend Re.0.30/- Per Share |
| 05-Sep-13 | Sunflag Iron And Steel Company Limited | Annual General Meeting |
| 05-Sep-13 | Astral Poly Technik Limited | Face Value Split From Rs.5/- To Rs.2/- |
| 05-Sep-13 | GMR Infrastructure Limited | Annual General Meeting And Dividend Re.0.10/- Per Share |
| 05-Sep-13 | RSWM Limited | Annual General Meeting / Dividend - Rs 10/- Per Share |
| 05-Sep-13 | Sanghi Industries Limited | Annual General Meeting |
| 05-Sep-13 | Swan Energy Limited | Dividend - Re 0.50/- Per Share |
| 05-Sep-13 | KLRF Limited | Annual General Meeting |
| 05-Sep-13 | MPS Limited | Interim Dividend - Rs 5/- Per Share |
| 05-Sep-13 | Autolite (India) Limited | Annual General Meeting |
| 05-Sep-13 | Sanghvi Movers Limited | Annual General Meeting/Dividend Re 1/- Per Share |
| 05-Sep-13 | Sarla Performance Fibers Limited | Annual General Meeting And Dividend Rs.6/- Per Share |
| 05-Sep-13 | Vascon Engineers Limited | Annual General Meeting |
Stocks
In News:**
-'India is a strong economy with a great future'
-To emphasise on transparency & predictability
-Will make monetary policy statement on September 20
-RBI takes its mandate from RBI Act
-Monetary stability prime role of RBI
-Urjit Patel panel to work on strengthening monetary policy
-To soon issue circular on freeing bank branching
-'Will not say we will never surprise the market'
-Hope to announce bank licences around January 2014
-Bimal Jalan to head panel to issue bank licences
-Bimal Jalan panel to recommend bank licence candidates to RBI
-To encourage foreign banks to move to subsidiary format
-Can cut bank investments to government securities when pension funds grow
-Nachiket Mor panel to study financial inclusion
-To up credit refinance limit for exporters
-Banks may borrow abroad up to 100 percent of Tier-I capital
-To work with SEBI, government to liberalise markets
-To push for more global settlements in rupee
-Have to improve efficiency of loan recovery system
-Deputy governor KC Chakrabarty to study non-performing assets (NPAs) under restructured loans
-Need to accelerate debt recovery tribunal proceedings
-Bad loan problem not alarming yet
-Will issue inflation index savings certificates
-To set up panel on mobile-based payments
-RBI has always changed when needed
-Plan to roll out broader reforms roadmap soon
-Believe 'gloom & doom' thinking overdone
-'My job as RBI Governor is not to get Facebook likes'
-Will follow all developments, including US Federal moves
-RBI has a plan to tackle the economy
-Financial markets get volatile when tapering is announced
-Will not read too much into S&P India rating statement
-Eyeing cues on US Federal easing; to take appropriate steps
RBI sources say:
-Banks' exposure to National Spot Exchange (NSEL) at Rs 3,000 crore
-Banks' direct exposure to NSEL at Rs 1,000 crore
-Banks' indirect exposure to NSEL at Rs 2,000 crore
Axis Bank says
-Direct/Indirect exposure to NSEL insignificant
-There is enough collateral against NSEL exposure
Foreign Investment Promotion Board (FIPB) clears Muthoot Finance White Label ATM licence-Muthoot finance to set-up 9,000 ATMs in India over a period of 3 years
NSEL says
-Outstanding amount of Rs 5,573 crore on August 1 including value added tax (VAT) of Rs 186 crore
-All pay-out as per Forward Markets Commission (FMC) directions
-All pay-outs being computed based on settlement liability
-To release VAT of Rs 186 crore against invoices raised
-Proportionate VAT amount being retained in Escrow a/c
-Amount to be released after receiving VAT invoices, FMC nod
Control of commodity exchange including MCX , NCDEX to move to finance ministry: Sources
-Prime Minister's Office (PMO) approves decision to bring COMMEX under finance ministry's control
-PMO approves decision to bring FMC under finance ministry's control
-Notification on move to be released in 1-2 days
Alert: currently Commex, FMC under consumer affairs ministry's control
FMC likely to give clarifications on VAT soon: Sources
-Members need to submit valid invoices to collect VAT amount
-NSEL to recover VAT amount from buyers
-Buyers require to submit VAT invoices to claim credit
-VAT amount not part of settlement pay-out plan
-NSEL submitted VAT amount details to FMC
Alert: FMC had asked NSEL to submit details of VAT amount
-Borrower members to pay differential VAT to state government
M&M 's Pawan Goenka to CNBC-TV18:
-Not to offer steep discounts during festive season
-Have a lot of expectations from new RBI Governor
-RBI may continue to focus on inflation
-To launch four new products over next 2.5 years
-May take price hike in sport utility vehicle segment
GSPC
-Hikes CNG price in Gujarat by Rs 3/kg today
-New CNG price in Gujarat to be Rs 66.30/kg versus Rs 63.30/kg
AGMs today- Bharti Airtel
- HPCL
- Prestige Estates
Ex-Dividend
- BEML : Rs 2.5/share
- GAIL India : Rs 5.6/share
- Godfrey Phillips : Rs 40/share
Other stocks and sectors that are in news today:-RBI withdraws curbs on foreign equity investment in Axis Bank
-Finance ministry defers plans to infuse Rs 14000 crore in PSU banks: ET
- Apollo Hospital arm may get Rs 600 crore from KKR lead consortium: ET
-Banks scuttle Suzlon ’s plan to pay offshore bond holders: ET
- Godrej Properties rights issue closes on September 11
- Asahi India rights issue closes today
- Jet Airways hikes fares by 25 percent with immediate effect: Sources to PTI
- Tata Motors MD: To launch diesel version of Nano by end of March 2014: Reuters
- HCL Technologies gets order from North American co Direct Energy
-Ex-Date: Astral Poly Stock Split from Rs 5 to Rs 2
Finance Minister:
-At the moment FDI in pension bill capped at 26 percent
-Even 26 percent FDI is a welcome step in pension
-If FDI cap in insurance hiked, pension will also move higher
-Pension Fund Regulatory and Development Authorit (PFRDA) now becomes a statutory authority
-To take up insurance bill in next session of parliament
Stocks
in Ban Period:
NIL
Source:**moneycontrol.com , nseindia.com
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