Friday, June 26, 2009

Market Report 26th June 2009

US markets end up after Fed Res meet.
Capitalism, IMF and World Bank under fire at U.N..
GM says bankruptcy sale delay would kill suppliers.
Wal-Mart faces ire over drugs from Ranbaxy.
Inflation up a tad, but still stays negative for 2nd week.
Tata Steel's net dips 60 per cent.
Corus to cut 2,045 more jobs in Europe.
Tata Steel to sell 20%-25% more in FY10.
'Oil prices unlikely to stay low in long run'-says ONGC
Rupee sheds 4 bps to close at 48.60 vs $.
Sun TV: Partly cloudy skies-With the radio business continuing to post higher than expected losses, the consolidated set of numbers from Sun TV haven’t quite come in as anticipated.
Insecticides India to invest Rs 40 cr in Dahej.
Tata Comm bags voice outsourcing deal from BT.
Citizen IDs to cost Rs 1.5 lakh crore-Govt.
Pfizer hikes open offer price by 23%, but few takers seen.
Tata Power to snap supply to R-Infra.
RIL, IOC, Adani bid for city gas contracts.
Ailing AI to let staff work for rival airlines.
IT majors vie for slice of UBS' offshoring contract.
Nilekani logs out of Infosys to join govt.
RNRL writes another letter to RIL for talks on gas supply.
RBI’s first quarterly review on 28 July.
Sebi bans 5 linked to Pyramid Saimira.
Govt raises sugar cane prices by 33%.
Novartis raises stake in Indian unit to 76.4%.
Downturn delays Cummins' Rs 750-cr project near Pune.
RBI may tighten capital adequacy norms.
FIIs making the most of arbitrage opportunities.
RCap appoints CEO for Singapore subsidiary.
IDBI Bank cuts lending rate by 25 bps.
Tata Power to set up plant in Netherlands.
F&O cues: Market-wide rollover at 75%.
Market cues: FIIs net sell $123.9 mn.

Indian ADRs:- Indian ADRs ended mostly higher on Thursday. In the banking space, ICICI Bank was up 5.16% at $ 29.57 and HDFC Bank was up 3.12% at $ 100. In the IT space, Patni Computers was up 4.51% at $ 10.89, Wipro was up 3.15% at $ 11.46, Infosys was up 1.49% at $ 36.68 while Satyam Computers was down 1.18% at $ 3.34.
In the telecom space, MTNL was up 3.04% at $ 4.07 while Tata Communication was down 1.12% at $ 18.55. In other sectors, Dr Reddy’s Labs was up 3.81% at $ 16.36, Sterlite Industries was up 3.26% at $ 12.04 and Tata Motors was up 1.25% at $ 9.71.


Singapore Nifty is seen Trading at 4,303.5 up by 25.5 points at 9.20 AM IST