Nifty Daily For 11th September 2013

                Nifty opened with a gap up of 58 points above the key resistance of 5720 and went on to build on the morning gain to close strong at 5896. During this session the nifty took out both 50DMA and 200DMA indicating strong positive momentum. Nifty has closed above the 61.8% fibonacci retracement of the fall from 6229 to 5118. This indicates reversal of downtrend and the dips should be bought into.  This was on the back of block buster bonanza of the new RBI governor. Once at throne of the central bank Mr. Raghuram has already embarked on loosening of monetary policy indirectly. This is simply cheered by the markets. The FOMC meet and RBI quarterly monetary policy review is clashing on the same date of 17th Sept. Will FED start tapering or will it just stay put? Will RBI loosen the inflating focused stance and take a new growth reviving stance is something to be looked out. Whatever it be the markets will discount it and prices will hint the answers.

               The support for nifty is at 5840-5770-5720 and the resistance lies at 5955-6031-6077. Nifty September Future has been trading at 11-12 points premium to the spot. The implied volatility on the Nifty September Options of ATM strike calls were at 27.32 and for puts were at 30.66. India VIX closed at 29.44. PCR for Nifty based on open interest was at 1.64 and PCR for the day based on volumes was at 1.05 for the market.

Cash Market:

FII            5984.75 -  3421.15 =  2563.6 Cr.

DII            954.02  - 2352.07 =  (1398.05) Cr.

FII Derivatives Market:

In Cr.	Buy	Sell	Net
INDEX FUTURES	7458.71	4501.10	2957.61
INDEX OPTIONS	23552.27	24657.03	-1104.76
STOCK FUTURES	2454.79	2523.30	-68.51
STOCK OPTIONS	891.26	904.04	-12.78

Corporate Action:

 

Ex-Date	Company	Purpose
11-Sep-13	T T Limited	Annual General Meeting/Dividend Re 1/- Per Share
11-Sep-13	Nucent Finance Limited	Annual General Meeting And Dividend Re.0.80 Per Share
11-Sep-13	Tata Teleservices (Maharashtra) Limited	Annual General Meeting
11-Sep-13	Gallantt Ispat Limited	Annual General Meeting / Dividend Re 0.50/- Per Share
11-Sep-13	TD Power Systems Limited	Annual General Meeting/Dividend Rs 2/- Per Share
11-Sep-13	Relaxo Footwears Limited	Annual General Meeting And Dividend Rs.2/- Per Share
11-Sep-13	Mandhana Industries Limited	Annual General Meeting And Dividend Rs.2/- Per Share
11-Sep-13	Liberty Shoes Limited	Annual General Meeting
11-Sep-13	Genesys International Corporation Limited	Annual General Meeting And Dividend Re.0.25 Per Share
11-Sep-13	GI Engineering Solutions Limited	Annual General Meeting
11-Sep-13	Cineline India Limited	Annual General Meeting
11-Sep-13	Aban Offshore Limited	Annual General Meeting And Dividend Rs.3.60 Per Share
11-Sep-13	BSL Limited	Annual General Meeting
11-Sep-13	Krishna Engineering Works Limited	Annual General Meeting
11-Sep-13	Khandwala Securities Limited	Annual General Meeting
11-Sep-13	Gallantt Metal Limited	Annual General Meeting
11-Sep-13	Dhampur Sugar Mills Limited	Annual General Meeting And Dividend Rs.1.25 Per Share
11-Sep-13	Melstar Information Technologies Limited	Annual General Meeting
11-Sep-13	The Byke Hospitality Limited	Annual General Meeting And Dividend Re.1/- Per Share

Stocks In News:**

National Spot Exchange (NSEL) says -Rs 7.77 crore pay-out made on September 10 -So far, 19 members have been declared defaulters -6 defaulters out of 19 yet to meet exchange officials -5 defaulters willing to keep properties as collateral -Major stock shortage in 9 warehouses of 7 defaulters -Auditor denied entry in 29 Godowns of 11 defaulters -SGS yet to submit report for 2 more warehouses ONGC Videsh (OVL) -Mulls buying Petronas’ 11 percent stake in Venezuela: PTI -May buy Petronas’ 11 percent stake in JV with Oil India and IOC Stemcor stake sale bidding date extended: CNBC-TV18 Exclusive: Sources -Bidders were to submit bids by yesterday -Last date for bids extended to September 17 - Tata Steel , JSW Steel , JSPL yet to submit bids -JSW Steel, JSPL likely to submit bids soon -Management of both companies evaluating valuations -Bidders likely to have sought an extension SKS Microfinance : -West Bridge ventures acquires 1.48 percent stake at Rs 140/share -West Bridge ups stake in company to 8.44 percent Alert: West Bridge is part of Sequoia, one of the PE promoters SKS Microfinance says: -Under Articles of Association (AoA), no shareholder has any right to nominate director -Received request for seat on board of directors from SKS Trust Supreme Court: -To continue hearing in coal block allocation matter today -Seeks list of coal block allocations under coal mines act Other stocks and sectors that are in news today: -Bankers vary of Bharati Shipyard 's Rs 5860 crore debt recast: ET - Zenith Infotech loses appeal against winding up -CBI chargesheets India Cements MD in Jagan case -Central Bank says Deccan Chronicle wiiful defaulter: FE - TCS gets multi-million, five-year order from Scandinavian airlines - Jindal Steel and Power (JSPL) to set up 175 MW power plant in Liberia for USD 250 million: PTI - Eros International Media : Parent Eros International filed for IPO in US -Reliance Jio signs MoU with Kolkata Municipal Corporation for 4G rollout -Cabinet to consider capital infusion in IIFCL on Thursday: PTI sources Govt says: -Cash Transfer for LPG to save up to 12 percent on subsidy annually Alert: Annual LPG subsidy outgo at Rs 40,000 crore -Savings from cash transfer for LPG subsidy to rise in FY15 -Could save up to 10-20 percent on LPG subsidy next year -LPG direct cash transfer in Delhi to start from January 1 -28 schemes in 121 districts launched under direct benefit transfer RBI says -Held-to-maturity (HTM) for primary dealers (PDs) hiked to 200 percent of net funds as against 100 percent earlier -PDs can transfer gilts into HTM category once again in July-September -Leeway to PDs on HTM due to excessive volatility in gilts

Read more at: http://www.moneycontrol.com/news/stocksnews/stocksnews-eros-intl-tcs-india-cements-bharati-ship_947268.html?utm_source=ref_article

 

• FIIs up stakes in BHEL, GAIL; pare exposure to Infy
  In state-owned gas utility GAIL also, FIIs purchased nearly 70 lakh shares, worth about Rs 220 cr, to ramp up their stake to 16.34%

• Brokers turn bearish on HUL as slowdown kicks in
  The open offer price of 600 by Unilever is currently supporting the stock that has been investors' favourite defensive bet over the past few years.

• ICICI Pru AMC exits Shriram Properties
  ICICI Pru AMC with a portfolio of Rs 750 cr has invested in residential projects across Mumbai, Pune, Bangalore, Chennai and the National Capital Region.

• Brokers' Picks: Goldman neutral on Apollo Tyres
  The acquisition of US-based Cooper Tire appears significant in terms of Apollo Tyres market cap

• Brokers’ Picks: MS overweight on Sun Pharma
  Settlement for generic Protonix patent litigation with Pfizer & Altana could negatively affect earnings estimate by 3 per cent to 4 per cent

• PSUs hit by MMTC sale at a discount of 72%
  The MMTC offering was subscribed 1.5 times at an indicative price of Rs 60

• Apollo's fall in share price unwarranted
  Apollo has now become the cheapest tyre stock among the top four players by market capitalisation with a trailing price-to-earnings multiple of 5.7 times

• Brokers’ Picks: Goldman stays neutral on RCom
  Risks include higher-than-expected data uptake is upside risk; higher competition is downside risk

• Brokers’ Picks: Goldman Sachs puts buy on DLF
  Co expects to reduce its net debt to Rs 17,100 crore by March 14

• Reliance Communication tower deal fails to impress
  The stock of RComm has lost 12.4% since Friday after it announced a telecom tower infrastructure deal worth Rs 12,000 crore with Reliance Jio

Stocks in Ban Period:

NIL

Source:**economictimes.com , nseindia.com