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Friday, October 15, 2010
Market likely to open negative
Indian equities are likely to open negative on Friday, Oct. 15, 2010. SGX Nifty is trading at 6,193 (8.00 am), flat from previous close of 6,193.
Asian stocks fell, sending the regional equity benchmark index lower from yesterday`s two-year high, after US initial jobless claims unexpectedly increased, sparking concern about the strength of the world`s biggest economy. Japanese benchmark index Nikkei 225 fell 69.31 points, or 0.72%, to trade at 9,514.20.
Latest Grey Market Premiums - Oct 15 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Commercial Engg. | 127 (Upper) | + / - 3 to 5 |
| Oberoi Realty | 260 (Upper) | 6 to 8 |
| B.S. Trans | 248 to 257 | Discount |
| Prestige Estate | 172 to 183 | Discount |
| Gyscoal Alloy | 65 to 71 | 10 to 12 |
| Coal India | 225 to 245 | 25 to 27 |
Flat start on the cards; Infosys results eyed
Headlines for the day:
R-Infra raises Rs7,000 crore for Mumbai Metro project
L&T Infra plans Rs700 crore infrastructure bond issue
Honda Motor prepares to exit Hero Honda
Infosys earnings to dictate market trend
The market is likely to see a flat opening amid mixed global cues. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could gain 7 points at the opening bell. IT bellwether Infosys reports its Q2 September 2010 results today.
Daily News Roundup - Oct 15 2010
Reliance Infra ties-up Rs70bn debt for Mumbai metro project (ET)
L&T Infra Finance to raise upto Rs7bn (ET)
Bharti to outsource customer support for African operations (ET)
HUL plans Bharat packs for rural markets (BL)
Sensex slides from 33-month high
Just when we thought that the Indian markets are all set to breach previous all time highs, bears were back on Dalal Street. Benchmark stock indices started off on an impressive note, but were unable to hold on to their early gains as Capital Goods, Oil & Gas and Power stocks witnessed some profit booking.
Currency wars & Infosys results
However beautiful the strategy, you should occasionally look at the results. - Winston Churchill.
It’s a war out there as far as the currencies are concerned. South Korea and China are sparring with each other on the sensitive subject. Singapore has taken steps to boost its currency to curb inflation. Brazil, South Korea and Thailand have all announced measures to restrain surging overseas inflows.
Prestige Estates Projects IPO Subscription Details
Qualified Institutional Buyers (QIBs) 4.32
Non Institutional Investors 0.24
Retail Individual Investors (RIIs) 0.08
Employee Reservation 0.24
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