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BTST : IndiaInfo at 111
TARGET 120 PLUS
www.northpole77.com
BTST : IndiaInfo at 111
TARGET 120 PLUS
www.northpole77.com
The Exchange is upgrading the capacity of capital market trading system by
implementation of horizontally scalable architecture. Existing Trading system
architecture will be revamped by using a distributed processing concept. Towards
this, the Exchange is conducting a special live trading session on Saturday,
February 06, 2010.
Market Timings for special live trading session on Saturday, February 06, 2010 will
be as follows:
Normal / RDM / Odd Lot Market Open : 11:00 hours
Normal / RDM / Odd Lot Market Close : 12:30 hours
Block deal session open : 11:00 hours
Block deal session close : 11:35 hours
Closing Session start : 12:50 hours
Closing Session end : 13:00 hours
It forecast wholesale price inflation of 8.1% at the end of the 2009/10 year in March, and expected it to ease to 5.5% the following year.
"Private consumption would benefit from better employment prospects and less uncertainty, and investment would be boosted by robust corporate profits, rising business confidence, and favourable financing conditions," the IMF's executive board said in a statement on Thursday.
FIIs were net sellers in the cash segment on Thursday at Rs1.55bn on a provisional basis while the local funds were net buyers of Rs2.41bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers to the tune of Rs1.57bn. As per SEBI figures, the FIIs were net buyers of Rs4.86bn in the cash segment on Wednesday. Mutual Funds were net buyers of just Rs62mn in the cash segment on the same day.
Brace for a gap-down opening as world markets are in a tizzy amid escalating concerns over the mounting debt problems in a few European nations. Whether the market manages to rebound remains to be seen as FIIs don’t seem to be in a mood to reverse their selling binge, at least for now.
Yesterday only we had warned against getting carried away with Wednesday’s rally. For those who heeded our advice though might have done better than most. Risk aversion has risen of late amid a spate of fresh worries from China’s tightening, to new restrictions for US banks to sovereign debt concerns in Europe.
For India, the big concern remains in the form of inflation and its ramifications on the stimulus-fueled recovery.
The big event for India will be the Union Budget. Expectations are already building up. The Finance Minister has its task cut out with a yawning fiscal deficit staring him in the face. The 3G auction fiasco coupled with the lukewarm response to the NTPC FPO are only adding to his troubles.
± L&T, EADS in talks to revive defence joint venture. (ET)
± M&M initiates talks with UK-based Triumph Motorcycles and Moto Guzzi, Italy to roll out premium bikes for the Indian market. (ET)
± GTL plans to raise Rs14bn through non-convertible debentures to invest in green energy products and solutions for telecom infrastructure. (ET)
± Reliance Capital Partners buys 3.4% stake in Fame India. (BS)
± ACC net up 42% at Rs15.64bn as against Rs11bn in the year-ago period. (ET)
± Ambuja Cements records a 12% fall in yearly consolidated net profit at Rs12.16bn as against Rs13.89bn. (ET)
± Essar Oil plans to increase its number of petrol pumps to 2,000 in the next few months from 1,450 currently. (ET)
± Dalmia Cement hikes its stake in OCL India from 21.7% to 45.4%. (BS)
Hopefully, the bulls will have learnt from past experience and will not go overboard with any sudden spurt. After a strong rally, we expect a subdued start as global markets have not extended this weeks spurt. However, the trading range could shift to 4900-5000 for the Nifty. A fall back to 4800 is not ruled out though and resistance is likely to kick in upwards of 5000. FII flows should turn positive, Budget should not disappoint and global situation must improve for a sustainable and meaningful advance above 5000.
Stocks in the budget-sensitive sectors could see action in the run-up to the big event. So, sectors like railways, power, infra, education, healthcare, fertilizers and textiles could hog the limelight. PSU oil marketing companies will gain in the wake of the reformist recommendations of the Kirit Parikh panel. The big question is will the Government bite the bullet on oil sector deregulation? The Government will also be hard pressed to return to the path of fiscal consolidation given the postponement of the 3G auction and expected shortfall in disinvestment proceeds.
Rising inflation and its fallout on the monetary policy could act as a dampener going ahead. Uncertainty over external factors like overheating in China, debt troubles in EU and fragile recovery in parts of industrialised world will continue to undermine sentiment.
Talking of global markets, private sector payrolls for January were down 22,000 in the US, the fewest since January 2008. Wall Street is now girding for Friday's employment report. There is a growing belief that job losses in the US economy are moderating.
As far Europe is concerned, Greece is not the only eurozone nation with debt problems, Spain and Portugal seem to be catching up fast. Outside the currency block, there could also be potential debt troubles in the UK and Japan.