Daily Pointer
10th March 2010
Market Outlook
Indices
09 Mar 10 Index Change (pts) Change (%)
Sensex 17,052.54 -50.06 -0.29
Nifty 5101.50 -22.50 -0.44
MidCap 6,734.65 -48.72 -0.72
SmallCap 8,530.72 -61.15 -0.71
World Markets
Index Change (pts) Change (%)
DowJones 10,564.38 11.86 0.11
Nasdaq 2,340.68 8.47 0.36
FTSE100 5,602.30 -4.42 -0.08
Nikkei 10,559.05 -8.60 -0.08
Hang Seng 21,193.16 -14.39 -0.07
FII & MF Activity
08 Mar 10 Buy Sell Net
Cash 4461.30 2201.80 2259.50
IndexFutures 765 478 287.00
StockFutures 1046 878 168.00
MF 796.80 997.50 -200.70
Currency & Commodity
10 Mar 10 Value Change (pts) Change (%)
Re/$ N/A N/A N/A
LSCrude($) 81.24 -0.25 -0.30
Commentary
Sensex lost 50 points yesterday with institutions resorting to profit-selling in blue-chip stocks, particularly Reliance Industries, amid weak global trend. A rise in IT, tech and consumer durable sector stocks saved the market from any major fall
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News Analysis
NMDC to diversify into new businesses
India's largest mining company NMDC plans to set up three functional divisions to diversify into the energy, infrastructure and fertiliser sectors. The company plans to set up power projects, steel & fertilizer plants   
Patel Engg gets coal linkage for TN project
Construction and infrastructure major Patel Engineering has received coal linkage for its proposed 1,050 MW (3X 350MW) thermal project at Nagapattinam, Tamil Nadu. The linkages have been approved by the Government under the 11th Plan   
ABB bags $22 mn orders from Haryana Vidyut Prasaran Nigam
Power and automation technology firm ABB has bagged orders worth $22 million (nearly Rs 100 crore) from Haryana Vidyut Prasaran Nigam for the supply of four sub-stations. The company would deliver four sub-stations equipped with automation   
Moser Baer achieves 7.3% efficiency on solar panels
The solar photo voltaic business of Moser Baer has achieved 7.3% module efficiency for 400W thin film large size module, which will make its plant capacity go up from 40 MW to about 50 MW, without additional capital expenditure   
Fortis to re-brand 10 Wockhardt hospitals
Fortis Healthcare has decided to re-brand the 10 Wockhardt hospitals it acquired last year under the Fortis brand name from April 1. The re-branding exercise will be followed by a heavy duty marketing and advertisement blitz   
ADAG companies hike stake in Fame to 13.8%
Anil Ambani Group firm (ADAG) Reliance Capital Partners along with two other group companies has acquired an additional 4,081 equity shares representing 0.01 per cent stake in Fame India, hiking their stake in the multiplex chain to 13.8 per cent   
Tata Steel sees iron ore prices rising
Iron ore prices are headed as much as 35 percent higher this year and will likely pressure the profit margins of steel companies, according to Tata Steel Ltd Vice Chairman B. Muthuraman   
Threshold for open offer may rise to 35%
The M&As, game in India may change for ever with Sebi, appointed panel likely to raise the shareholding threshold that triggers open offers from 15% to 35%.   
GSK to lower prices to woo India mkt
GlaxoSmithKline (GSK) would cut retail prices in India to cater to the lower-income segment besides pumping in Rs 430 crore to develop vaccines from its local facilities, according to Andrew Witty, global CEO   
Technical Analysis
Sensex Sell Level 17069-17099 More...
Nifty Sell Level 5106-5118 More...
Ventura Securities Ltd.
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