Thursday, July 9, 2009

Market Report 9th July2009

Nifty closes below 4100; all sectoral indices in red.
Google plans computer operating system: NYT.
Oil rebounds towards $61 after fall in inventories.
Europe stocks fall to 10-wk low on Wall St loss.
Franklin Templeton launches Franklin Build India Fund.
Suzlon receives repeat order from China.
View:- BUY SUZLON STRICTLY ABOVE 92.5 FOR A TARGET OF 96 SL 89.
Mahindra Satyam receives CLB approval.
L&T bags Rs 651cr orders for projects in hydrocarbon sector.
IT firms Q1 net seen up, growth prospects cloudy.
SAIL cuts prices by up to Rs 2,000 a tonne.
NIIT to play active role in govt skill development project.
Custom duty hike to be passed on to consumers: Dish TV.
India's $30 bln defence plan hampered by graft scandal.
Indian GDP at 9% next yr highly achievable: Credit Suisse.
Employment rate increases by 0.6% in Jan-March.
No hike in import duty on steel for now: Govt.
Tata Steel expansion projects on track.
BSL's subsidiary revises offer price for Great Offshore shares.
G8 summit skips dollar debate, aims lower on climate.
Oil India IPO in first week of September.
RNRL does not want govt as respondent in RIL gas dispute.
Indian ADR's:- Indian ADRs ended in red on Wednesday. In the telecom space, MTNL was down 8.05% at $ 3.77 and Tata Communication was down 1.43% at $ 18.59. In the banking space, ICICI Bank was down 6.67% at $ 26.04 and HDFC Bank was down 2.75% at $ 91.36.
10.93, Patni Computers was down 5.30% at $ 10. However, Satyam Computers was up 1.80% at $ 3.39.

In other sectors, Sterlite Industries was down 8.59% at $ 10.75, Tata Motors was down 6.94% at $ 7.64 while Dr Reddy's Labs was up 1.21% at $ 16.73.


SIngapore Nifty is trading at 4,078.0 up by 13.0 points.