Thursday, July 15, 2010

Live Share Market Update

Wall Street finished Wednesday’s mercurial trading session on a mixed note as Investors and Traders examined upbeat corporate results amidst weak economic reading on Retail Sales & Mortgage applications and negative comments from the Fed on the US economy. Asian stock markets are trading mixed in the morning.

Back home, The NSE Nifty is expected to open in a constricted range. Today the trading range is seen between the Critical Support level at 5389 and the first Resistance at 5436. We may look for some positive global triggers to move out of this range. A break above may lead towards the higher Resistance at 5463. However if Nifty looses the Critical Support ,we may see some position unwinding which may push the index towards the Major Support at 5352. Below this level the Support comes at 5332.

* ABG SHIPYARD: Egyptian firm Maridive and Oil Services cancels orders for
two offshore supply vessels, worth over $46 mln, placed with the company.
* AMRUTANJAN HEALTH CARE: Has withdrawn share buyback plan.

* BAJAJ AUTO: To mull bonus share plan Jul 22.
* BHARTI AIRTEL: Expects 3G services to be priced high in wake of the high
spectrum acquisition costs for companies.

* NAGARJUNA CONSTRUCTION CO: Four people were killed in police firing during
local protest against company's planned 1,320 MW power plant in Srikakulam

TCS AXIS BANK. (Net seen 708 CRO, up 26% on year)
Andhra Pradesh Paper Mills, Castrol India, Colgate Palmolive, Gruh Finance,
IL&FS Investment Managers, ISF, LIC Housing Finance, Magma Fincorp, Polaris
Software, Sanguine Media, Thangamayil Jewellery, UTV Software Communications,
and Zensar Technologies.

Reliance Comm open weak 1 % on reports that the deal
value of arm Reliance Infratel's deal with GTL Infrastructure could fall if
Etisalat picks a 26% stake in the mobile services provider.
Etisalat has emerged as a frontrunner
to pick a 26% stake in Reliance Communications,

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