Yesterday it was a volatile session with a negative bias.Sensex had hit a
high of 16004 after the European indices opened.As the European indices
were flirting with the positive zone after opening,our indices slipped
into red.All the divestment candidates of the Government rose after the
new announcement by SEBI.
RIL had announced a planned maintenance for one of its crude distillation units at the Jamnagar SEZ for a period of 3 weeks.The stock edged lower for the day.
M&M continued its downward journey yesterday and it was down by more than 4%. Two days back BofA had cut the ratings to under-perform.
HeroMoto Corp unveiled 2 motor cycle models and 1 scooter model yesterday.After Honda's exit from the joint venture, this was the second launch.The first one was the much anticipated on-off roader, the Impulse.These launches are expected to strengthen its market share in the second largest 2 wheeler market.
ONGC board gives the nod to Rs 115 Cr Investment on Heera field redevelopment. And the board announced a Rs 6.25 per share interim dividend and the payment of the same shall start from Jan 10th.In another news ONGC had notified 2 prospective hydrocarbon discoveries.
April- December Tax figures were released yesterday.
Income Tax Mop-up Rs 1.26 Lk Cr up by 19%.
Corporate Tax Mop-up at Rs 2.7 Lk Cr up by 12.5%
Direct Tax Mop-up at Rs 3.96 Lk Cr up by 14.5%
China's Non manufacturing PMI came at 56% compared to 49.7% for the month of November.The manufacturing PMI came at 50.3% compared to 49% in November.
EU shares edged lower as the Hungary's Forint fell lower against Euro and the Italian UniCredit SpA launched a 51000 Crore($9.68 billion) worth of rights issue at a huge discount.
US markets closed almost flat for the day.
I expect our markets to open lower tracking the Asian peers and keep an eye on stocks like HeroMotocorp,RIL,ONGC.Inflation data for the Week ended December 24th to be released for the day.After 2 weeks of euphoria the European debt crisis is popping up again.Keep an eye on European indices.
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RIL had announced a planned maintenance for one of its crude distillation units at the Jamnagar SEZ for a period of 3 weeks.The stock edged lower for the day.
M&M continued its downward journey yesterday and it was down by more than 4%. Two days back BofA had cut the ratings to under-perform.
HeroMoto Corp unveiled 2 motor cycle models and 1 scooter model yesterday.After Honda's exit from the joint venture, this was the second launch.The first one was the much anticipated on-off roader, the Impulse.These launches are expected to strengthen its market share in the second largest 2 wheeler market.
ONGC board gives the nod to Rs 115 Cr Investment on Heera field redevelopment. And the board announced a Rs 6.25 per share interim dividend and the payment of the same shall start from Jan 10th.In another news ONGC had notified 2 prospective hydrocarbon discoveries.
April- December Tax figures were released yesterday.
Income Tax Mop-up Rs 1.26 Lk Cr up by 19%.
Corporate Tax Mop-up at Rs 2.7 Lk Cr up by 12.5%
Direct Tax Mop-up at Rs 3.96 Lk Cr up by 14.5%
China's Non manufacturing PMI came at 56% compared to 49.7% for the month of November.The manufacturing PMI came at 50.3% compared to 49% in November.
EU shares edged lower as the Hungary's Forint fell lower against Euro and the Italian UniCredit SpA launched a 51000 Crore($9.68 billion) worth of rights issue at a huge discount.
US markets closed almost flat for the day.
I expect our markets to open lower tracking the Asian peers and keep an eye on stocks like HeroMotocorp,RIL,ONGC.Inflation data for the Week ended December 24th to be released for the day.After 2 weeks of euphoria the European debt crisis is popping up again.Keep an eye on European indices.
(To receive the Daily Market Report and Breaking news during market hours, in your inbox, type your email id in the box(Subscribe to Broker King) below the World Map in the blog and click Subscribe).www.brokerking.blogspot.com
For your comments and suggestions Kindly visit our FB page, http://www.facebook.com/pages/Broker-King/115212095212768
