Wednesday, June 24, 2009

Market Report June 24th 2009

Sensex mirrors weak global market, ends flat in volatile trade.
FIIs net sellers Rs 10cr in F&O on Tuesday.
Indian ADRs-Indian ADRs ended mixed on Tuesday. However, gainers outnumbered the losers. In the telecom space, MTNL was up 3.99% at $ 3.91 and Tata Communication was up 1.74% at $ 18.17. In the IT space, Infosys was up 1.14% at $ 35.47, Wipro was up 0.56% at $ 10.72 while Satyam Computers was down 0.31% at $ 3.25 and Patni Computers was down 0.67% at $ 10.35.

In the banking space, ICICI Bank was down 0.67% at $ 28.01 and HDFC Bank was down 3.24% at $ 93.92. In other sectors, Sterlite Industries was up 3.67% at $ 11.86, Dr Reddy’s Labs was up 2.23% at $ 15.58 and Tata Motors was up 0.99% at $ 9.22.

China defends export policies against WTO complaint.
Rs 6,000cr MMTC coal import plan under cloud.
Weaker Dollar may revive demand for gold as alternative investment.
Genpact sees pace in healthcare growth, eyes expansion.
Biodiesel looking up as crude prices rise.
Mahindra Holidays' IPO revives Guj grey market.
10 stocks surge ahead of Rly Budget.
The share price of Kalindee Rail Nirman Engineers, Container Corporation, BEML, Simplex Casting, Kernex Microsystems, Titagarh Wagons, Texmaco, Stone India, Hind Rectifiers and Bharat Heavy Electricals have witnessed a sharp run-up ranging between 2 and 28 per cent in just three trading sessions.
RCom to tie up with Apalya Tech.
Tobacco export jumps 70% in April .
Subsidise milk powder export: Dairy industry.
MCX turnover may rise over 20%.
Mahindra Holidays IPO subscribed 20% on debut.
Parsvnath slips on 84% drop in Q4 net.
ABG Shipyard offers counter bid in Great Offshore.
Kiri Dyes at new high on plans of Rs 150cr issue.
ICICI Pru Power, Balanced declare dividend.
NTPC buys 44.6% stake in Kerala-based company; stk up.
Delay won't affect monsoon's performance: MET.
Group health cover may cost more.
MFs' profits take a hit on rising debt assets.
SAIL to slash 20,000 jobs by 2011: report.
Power Grid to raise 30 bln rupees via share sale.
Delayed monsoon may widen power deficit – exec.
Siemens bags Rs 112 crore order; stock down.
India to make energy labelling mandatory for cars.
Tech Mahindra plans to raise funds via share sale.
Govt's 'Home-Stay' tourism initiative gaining popularity.
India attracts $2.34 bn FDI in first month of 2009-10.
Airbus delivers first China-made jet.
Toyota to roll out fuel-cell car by 2015: Vice President.
Orissa to get 300 Mw from NTPC to tide over power crisis.
Bharati Shipyard buys 4.58% in Great Offshore at Rs 403/sh.
ADAG, AT&T eye equity deal in R-Comm: Sources.
QIBs may have to pay 25% upfront for IPO bids.
ONGC to rope in Infosys for knowledge mgmt.

Singapore Nifty is seen trading at 4249.5 up by 19 points at 9.20 AM IST.