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Karvy Research Desk 1
Ah ecmoney
Lets hear some noise..
The US markets have closed on a negative note, while the
Asian
indices are trading with fl at-to-positive sentiments. Hence,
Nifty is
expected to open on a fl at note. Trade long in Nifty above
5150
level, else from 5120 level with stop loss at 5090 level for
targets of
5180 and 5200 levels. Alternatively, Trade short in Nifty
below5090 levels with stop loss placed at 5120 levels targeting
lower
supports.
Views
Apurva ShahResearch Analyst
[email protected]
In RetrospectSeptember 09, 2011
GLOBE TROTTINGIndex Value ChangeSensex 17165.54 100.54
Nifty 5153.25 28.60
Dow Jones 11295.81 119.05
Nasdaq 2529.14 19.80
Nikkei 8801.11 7.99
Hang Seng 19969.04 56.22
Kospi 1832.49 14.15
INSTITUTIONAL ACTIVITY(Rs.cr) Buy SellFII (Equity) 3087.50
2713.30
FII (F&O) 12519.93 11671.04
MF 561.70 522.70
OTHERSExchange Rate ($/Rs) 46.17
Nymex Crude Futures ($/bbl) 89.27
The Reserve Bank of India has told private lender Axis Bank
thatthe proposed acquisition of Enam's broking and investment
banking
businesses has to be an all-cash deal. The Rs 2,067-crore
deal,
pending since last November, was jointly announced by Axis
and
Enam, an influential Dalal Street brokerage.
Public sector banks, which account for more than three-fourths
ofthe industry, have been ordered to clear loan applications within
30
days in some cases, which bankers fear may lead to slack due
diligence that will turn into bad loans in future.
American lifestyle brand Tommy Hilfiger has bought the license
forits trademarks and a 50% stake in a JV with Arvind Ltd that
sells
the American lifestyle brand in India from the Murjani
Group.
Kolkata's leading jeweller, Shree Ganesh Jewellery plans to
triple itsturnover from the retail business from Rs 400 crore to Rs
1,200
crore in the next two years. As part of this, the Rs 5,900
crore
company has also launched a new brand, Gaja Lites, to tap
the
growing fashionable, light-weight gold and diamond jewellery
market.
Gitanjali Gems Ltd, India's largest jewellery retailer, values
nine ofits major brands at 55.84 billion rupees. Gitanjali retails
diamond
jewellery under the brands Gili, Nakshatra, Asmi and D'Damas
in
India, and the valuation for these brands was done by
London-
based Brands Finance Plc.
Britain's BG is eyeing stakes in ONGC's deepwater block
andconsidering investment in an LNG terminal. But the company
wants natural gas prices to be freed from government
control.
REpower, a subsidiary of wind turbine maker SuzlonEnergy
received a contract to deliver turbines for seven wind farms.
REpower Systems SE has concluded contracts with seven
communities in Northern Friesland (Germany) to deliver
47turbines.
State-run National Aluminium Co. Ltd sold 7,500 tonnesof
aluminium ingots at nearly $102 per tonne premium over the
average LME cash price on a cost, insurance and freight
basis.
A Daily Equity Market Overview
Morning Report
mailto:[email protected]:[email protected]:[email protected]
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Karvy Research Desk 2
Disclaimer
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however, do not vouch for the accuracy or the completeness thereof.
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PERFORMANCE MONITORScrip CMP Date Entry SL Target TF Return (%)
Remarks
ANDHRABANK 131.00 08-Sept 130 126 139 2-3 DAYS +0.77% OPEN
TECHNICAL RECOMMENDATIONSScrip Action CMP Entry Stop Loss Target
Time Frame
VIP IND LONG 982.80 960-970 945 1020 2-3 DAYS
Morning Report
