US Stock markets witnessed a listless trading session on Wednesday as traders were cautious due to continued concerns over the financial crisis and led by mixed economic readings on Inflation and Housing. Most stock markets in Asia region are trading with a positive bias on Thursday.
Back home, The NSE Nifty is expected to open in a constricted range amidst lack of any strong global data. For any upside momentum, the Nifty should sustain above its first Resistance at 6012 while the higher target for the day is seen at 6036. The Critical Support level for today’s trade is seen at 5966 wherein a fall below this may trigger further downside movement towards the first Support at 5940. Below this level, some position unwinding could drag the index towards the Major Support at 5915.
AXIS BANK: Bank, unlisted Enam Securities to merge their investment banking
and equity operations, in an all-stock deal valued at 20.67 bln rupees.
BHARTI AIRTEL: May ink a software deal with US-based Connectiva; the US co
provides software to mobile companies to plug revenue leakages and track
CAIRN INDIA: Parent Cairn Energy says it hopes to complete the Vedanta deal
CIPLA: May be close to supply agreement with Pfizer.
COAL INDIA: Company's 30 bln rupee plan to wash 111 mln tn of coal by 2017
may run into environmental trouble.
DISH TV: Says its subscriber base has crossed 9 mln.
DR REDDY'S: Has received tentative approval from the US Food
and Drug Administration for the generic version of Sanofi-Aventis' anti-allergy
drug Allegra-D extended release tablets.
JSW STEEL: JSW Severfield Structures, a joint venture between JSW STEEL and
Serverfield Reeve Structures plans to invest three bln rupees for expanding
capacity at Vijaynagar unit.
M&M: To sign Ssangyong deal next week. Likely to use Reva technology in all cars.
MANAPPURAM GENERAL: To raise 10 bln rupees via qualified institutional
placement of shares at 168 rupees per share.
Rcom: Says did not own Swan stake when Swan won the 2G