सेन्सेक्स (10527.85) -800.51 अंक गिरकर, निफ्टी (3279.95) -233.70 अंक गिरकर, बंद....

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SBIN: Our short term call turn plus up by 2.50%, at Rs1355, hold for targets

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European markets update: FTSE Index down 5%, CAC Index down 5.7% and DAX Index down 7.7%

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For 10% lower freeze, Nifty has to be down by 390 points and Sensex has to be down by 1275 points

10% circuit levels for Sensex is 10196
10% circuit levels for Nifty is 3162

ICICI Bank has adequate liquidity in international operations: Chanda Kochhar

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India's inflation rate was 11.80% in week ended September 27

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DLF denies report Standard Chartered failed to disburse funds

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Infosys revises guidance downwards; Q2FY09 net profit (QoQ) up 9.6% at Rs 1432 Cr; revenues up 11.6% at Rs 5418 Cr; FY09 EPS seen at $ 2.24/ADR, revis

Infosys have come up with Q2FY09 numbers, which are above expectations. Infosys Q2FY09 net profit stood at Rs 1432 crore Vs Rs 1302 crore (QoQ), up 10%.

FM to make statement at 11:00 am - Reports

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Delivery Call : Buy SBIN around and below 1300, SL 1269.90 hold for short term target Rs1347.90 and 1374.90 plus

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Expert View ...

India says CRR cut effective from October 11 10:12:09 AM
India cuts CRR to 7.5% from 9%

Delivery Call : Buy LT around and below 900 for long term target of 1100 and plus. Hold for 6 Months.

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Sensex : 10580.85 -747.51 Nifty : 3309.00 -204.65

Markets recover from brink of lower circuit in opening trades.

Markets recover from brink in opening trades

Sensex : 10241.37 -1,086.99

Nifty : 3206.75 -306.90

Fri, 10 October 08,09:57 IST

Expert View ...

In India Expect some fast actions like Repo/reverse Repo/Interest rate cut, More CRR cut and Fuel Rate cut immediately.

Insider trades ...

Gitanjali Gems: Mehul C. Choksi, Promoter and CMD has purchased 207,921 equity shares of the company on October 8, 2008.

Apollo Tyres: HDFC Standard Life Insurance Co has purchased over 2.7mn equity shares of the company on October 3,2008.

Hindustan Oil Exploration: Rakesh Jhunjhunwala and persons acting in concert has purchased 377,500 equity shares of the company on October 6, 2008.

POSITIVE & NAGATIVE BREAKOUT

Positive Breakouts (BSE-200)
Hero Honda
NTPC
PNB
Maruti Suzuki
National Alumin

Negative Breakouts (BSE-200)
BPCL
Bank of India
Dabur India
Sterling Biotech
Lupin

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FIIs were net sellers of Rs10.55bn (provisional) in the cash segment

FIIs were net sellers of Rs10.55bn (provisional) in the cash segment on Wednesday while the local institutions pumped in Rs10.83bn. In the F&O segment, the foreign funds were net sellers at Rs2.05bn. On Tuesday, the FIIs were net sellers of Rs5.48bn in the cash segment. Mutual Funds pulled out Rs3.07bn on the same day.

Don’t hurry, be happy!

Considering the unprecedented carnage in the global financial markets and uncertainty over the fate of the US and other major economies, we would like to refrain from giving any intra-day trading ideas. We continue to advise caution at this stage.

Investors should stay on the sidelines till the global selloff abates and markets stabilise. One should not get carried away if there is any kind of a relief rally, as further selling is expected. Any advance in Indian stocks can only be sustained if global markets recover.

Pri Market Commentary ...

Today, given the relentless sell-off across global markets, particularly in the US and Asia, we expect another gap-down opening. Things could get worse, especially if there is no improvement in markets in Asia and Europe. There are fears that our market may come closer to the lower circuit levels.

Today is also an important day from the quarterly earnings' point of view, as IT major Infosys has announced its results for the July-September quarter. The company has reported a net profit of Rs14.32bn, up 10% over the previous quarter. Revenue for the July-September quarter stood at Rs54.18bn, up 11.6% over the first quarter. Meanwhile, the rupee has hit an all-time low of 49.30 per dollar.We continue to advise caution at this stage.