Stock Market & Business News Highlights – 30 June 2009

• Yesterday (29-June-2009) all asian markets were trading flat but had positive bias trading mode. Following that Indian market were opened very strong positively and was trading above 4390 resistance level in initial trade. But after 20 minutes of trading, We have seen selling pressure which dragged market in RED zone with more than 50 points losses. After mid session trading, nifty had started some recovery and EU markets opened with marginal positive move which helped indian market to go up by 270 points from its day’s low to touch 14955 level. Nifty also was trading above 4400 level and made high of 4435 but did not make to cross 4440 strong resistance level. In closing trading session, Indian market found some heavy selling pressure which dragged sensex down 100 points and nifty to below 4390 level. Finally NSE benchmark nifty closed at 4387.60 below 4390 level and BSE benchmark sensex closed at 14779 with 14.5 points gain.
• Crude Oil was trading with marginal gain of 2% at $70.6 yesterday – Bloomberg.com
• The capital markets regulator, Sebi, is learnt to be thinking of increasing stock exchange trading hours so that market participants in India are better placed to react to developments in global markets. If the proposal is approved, the equity market will be open for trading from 9:00 am to 5:00 pm – ET
• GMR infrastructure has fixed floor price of Rs. 142 per issue for its qualified institutional placement (QIP) issue. for raising funds upto Rs. 5000 crore – BS, BSE
• Shipping Corporation of India (SCI) accepted delivery of a crude container named ‘Desh Vishal’ from Daewoo Shipbuilding Marine Engineering Co, South Korea – BS
• The Bombay High Court sanctioned the merger of Reliance Industries (RIL) and Reliance Petroleum (RPL), but stayed its own order to enable those who are against the merger to file an appeal. Anup Sheth and two others had filed applications, objecting to the merger scheme in the present form. – BS
• The Indian stock market benchmark Sensex is likely to climb 14% to cross the 16,000-mark in the next 12 months, riding on improving macro outlook and liquidity conditions – Nomura, Japanese financial services and Business Standards
• Bank Of Rajasthan board approves QIP of up to Rs 250 crore – IndiaEarnings.com
• Bank of Rajasthan board has approved the allotment of equity shares on qualified institutional placement (QIP) basis to raise up to Rs 250 crore in one or more tranches – BS
• GMR infrastructure has fixed floor price of Rs. 142 per issue for its qualified institutional placement (QIP) issue. for raising funds upto Rs. 5000 crore – BS, BSE
• Apollo Hospitals Group earns a net profit of Rs 118 crore – BS
• How America should get out of the crisis: Craig Barrett. Read more

Today’s Sensex & Nifty Trading Calls

• Stock Market Pre-opening Outlook: Indian stock market NSE index nifty closed below its strong resistance level. But all EU and Dow Jones trading with 1-2% gains. Budget is coming near for we may see opening above 4400 levels and in first half if it will cross 4450 level then we may see 4480, 4520 levels in closing trade. But if 4320 is broken then we may see market going below 4260 level but should not go below that level.
• On 29 June 2009 ,  Foreign institutional investors (FIIs) were net buyers of Rs. 292 crore and Domestic institutional investors (DIIs) were net buyers of Rs 144 crore on Indian Stock market benchmark Bombay Stock Exchange – BSE Data, BS
• Finacial Results Today: Akruti city, Titagruh Wagons, Radico Khaitan, Sejal Architectural Glass, Khaitan Electricals, Electrosteel Casting
• Nifty Levels: Current: 4375 Support Level 4350, 4320, 4260  Resistance Level 4390, 4440, 4485
• Buy Pantaloons Retails: CMP 316 Target 326, 334 Stop Loss 309
• Buy Electrosteel Casting: CMP 34.25 Short Term Target 38 Stop Loss 32
• Buy Bank Of Rajasthan: CMP 62.85 Target 64.5, 66, 67.3 Stop Loss 61
• Buy Nagarjuna Construction: CMP 142.80 Target 149, 157 Short Term Target 164 Stop Loss 137
• Buy Apollo Hospitals: 5% Target
• Buy Simplex Infra: CMP 398 Target 410, 418 Stop Loss 391
• Sell TV18: Target 121 Stop Loss 131
• Buy BEML Ltd.: CMP 1060 Target 1110, 1137 Stop Loss 1035
• Buy LIC housing: CMP 637 Target 649, 654 Stop Loss 623
• Buy Dena Bank: CMP 57.95 Target 59.5, 60 Short Term Target 65 Stop Loss 53
• Buy Aban Offshore: CMP 923 Target 945, 957 Stop Loss 911
• Buy/Hold GMR infra: Stop Loss 142
• Buy/Hold Yes Bank: Immediate Target 161
  
• Long Term investor should buy Suzlon Energy if it will crash in todays early trade (105-107) will be a good buy.
• Past Trading Calls View Here

Mid-Session Updates

• Buy Sun Pharma: Target 1180, 1200, 1240, 1280 (Risk Takers Only)
• GMR infra canceled QIP offer at 142/share price
• We may see recovery in lat 30 minutes trading.
• STBT: Exit Spice Jet,  Jet Airways, Kingfisher
• BTST: Buy HPCL, IOCL, BPCL
• STBT: Sell Punj Llyod CMP 208.50  Target 198, 195 Stop Loss  214