Sensex
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Asian markets seem to have lost its charm with yesterdays move. With even today’s neutral view, they all seem to signal a sideways move.
DJI and GSPC continue their upward march relentlessly.
I guess the pivot calculator will help all in assessing today’s support and resistance levels. 5230 will close the gap as well as test the S1. Market continues to be in hands of Bulls, but traders could be very active. If today is a negative day then the bull power will be tested more strongly. If market closes > 5280, the charts will tell a different story.
Trade safely. Keep SL strictly.
Abe
Stock Market India - Online Share Trading - IPO Updates |
| Investors log out of IT stocks as rupee hits 15-month high Posted: 07 Jan 2010 10:31 AM PST Shares of seven software firms declined 0.26% to 2.11% at 09:42 IST on BSE after the rupee today, 7 January 2010, surged to its highest level in more than 15 months against the US dollar. A stronger rupee negatively impacts operating profit margin of IT firms as the sector earns a lion’s... Read More... |
| Rama Newsprint & Papers Approves Rights Issue Posted: 07 Jan 2010 03:36 AM PST Rama Newsprint & Papers’s board in its meeting held on Jan. 07, 2010, has decided to issue further equity shares of up to Rs 500 million including share premium to be decided on rights basis to the eligible shareholders of the company as on a record date to be fixed therefore. The board... Read More... |
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| PSUs discuss host of issues with PM. |
Thomas K. Thomas
New Delhi, Jan 7
The merger talks between Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd could be back on the menu. The two PSUs discussed the issue at a meeting with the Prime Minister on Wednesday as part of a plan to revive the company's profitability.
The two telecom companies have been exploring possibility of a merger for the past two years, but issues related to management, employee compensation and holding structure had put the deal on a backburner.
Pressure to perform
But now with both BSNL and MTNL losing their market share to private players, there is pressure on them to perform. While BSNL does not have access to most lucrative markets of Delhi and Mumbai, MTNL does not have presence in other parts of the country. Synergising their operations could put them in a better position to take on the intense competition in the mobile segment.
In a bid to get BSNL to work more efficiently, the Government is also looking to get the company listed on the stock exchanges. Though the Government had given its nod for the Initial Public Offering (IPO) over a year back, the employees union are against the proposal. The BSNL management has been asked to negotiate with the employees union and move ahead on the plan.
Issues related to BSNL's 93 million line mobile equipment tender was also discussed.
The tender, floated in 2007, has not yet been awarded due to controversy over the way the company selected the vendor. BSNL may be asked to exclude 3G equipment from the tender altogether and stick to buying only 2G gear. Meanwhile the Central Vigilance Commission is also investigating allegations of irregularities in selecting the vendors.
In addition, BSNL has also sought a waiver of its licence fee which could lead to savings of over Rs 4,000 crore. However the decision will have to be taken in consultation with the Finance Minister. But private players are likely to object to this waiver and also claim similar sops.
The profits of the two PSUs have been declining over the past two years due to intense competition from the private operators. BSNL, which at one time was the number two mobile player in the country, has now slipped to number four. The company's profits have also fallen drastically and the company could go into the red at the end of this fiscal
8 January Today Watch on (Buy) Bajaj Hind,Jyoti Struc,Zylog Systems,UCAL Fuel,BF Utilities,REISIX TENR
Indian Stocks BSE |
| Posted: 07 Jan 2010 08:13 AM PST Free Intraday Cash Tips from Tipz.in for 8th January 10 530549  ( SHILPA MEDIC)
( STERL INTER )
( ACROW INDIA )
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| Posted: 07 Jan 2010 08:11 AM PST |
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Attachment(s) from Ankur Dhoot
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| Thanks Abraham, I bought Glory @ 26.10 today on BSE & I am glad that the closing was at 27.75 today. I will hold it till your first target which is 30/- What is the second target & how much time it will take to achieve it ?? Have a lovely day. Armaan --- On Thu, 7/1/10, A P Abraham <abrahamap@airtelmai
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The first signs of Nifty breaking down has appeared on the charts. Now the bulls have to do double time to straighten it.
As of now, one has to be careful as to where they put their monies. Still bull power is present in full measure, only that they appear tired. They have not vacated the field for the bears yet. But the fight is taking its toll. I feel a correction to 5160 is on cards.
Weekly chart will be threatened only if 5160 is broken. Maybe even 5100 will be tested.
Please note, all calls of mine stand cancelled as of now, till the day charts straighten out. I have personally exited most of my new additions.
Abe
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| Benchmark indices broke four day winning streak and lost nearly half a percent in today's trade. Sensex lost 85 points to close at 17615, while Nifty finished at 5263, down 18 points. BSE Midcap index closed flat while Small cap index gained 0.7%. Textile and Capital Goods shares surged on the back of reports that they might get stimulus out of budget. Food inflation for the week ended December 26 came in at 18.22% as against 19.8% for the previous week. Reliance gained 1.5%, after reports that the company will drill six more exploration wells in D6 blocks. Rupee continues to appreciate against the dollar and touched the level of 45.56, the highest after 24th September, 2008. European markets were trading down, led lower by banks stocks ahead of the Bank of England's decision on interest rate. US stock indices futures were down about a third of a percent ahead of weekly report on jobless claims. |
| BSE IT and Auto indices were the top losers among the sectoral indices, shedding 2.2% and 1.7% respectively, while Oil & Gas and Consumer Durable indices gained 1.2% and 1.1% respectively. Hindalco and Reliance Industries gained the most among the Sensex stocks, putting on 2.4% and 1.5% respectively, while Tata Motors and TCS lost 3.4% and 2.6% respectively. BSE advance-decline ratio stood at 1.3:1. |
Attachment(s) from ekam ber
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