Stock Market News Highlights – 25 June 2009

• Indian stock market had shown some recovery in yesterday’s closing session. US market was also trading flat in positive biased zone and all EU market were closed in GREEN. Today asian market followed all global markets and opened flat and then moved in GREEN. Indian markets also opened flat above 4230 level and traded almost 3 hours flat with positive biased. Today all EU markets opened with good positive gap and DOW , NASDAQ futures are positive which helped indian market to go above 4300 nifty level and SENSX to go above 14400 levels. After good positive gap trading, on closing cell BSE benchmark SENSEX closed with 86 points gain at 14410 and NSE benchmark nifty closed at 4292 with 46 points gain which is above resistance level of 42. BSE Power index and Consumer Goods Index were closed with 3% gain but BSE bankex was tradinf flat in end.60 level.
• Crude Oil was trading with 0.5% loss at $68.7 after gaining yesterday – Bloomberg.com
• Fiscal deficit for April reaches 16% of govt estimation due to stimulus packages announcements in January and march which could force RBI to rethink interest rate cut idea for short time period – BS
• Reduce tenure, not EMI, when home loan rates dip. Read more on BS
• ABB India won orders of Rs 220 crore from Tata Projects Limited to provide power products and solutions for a super-critical coal-fired power plant under construction in Andhra Pradesh. – BS, BSE
• Educomp Solutions has entered into a 50:50 joint venture (JV) with the UK-based publishing house Pearson. The JV will offer vocational education business leveraging Educomp’s learning network and Pearson’s education content. – ET
• Moser Baer has launched eight new LCD (Liquid Crystal Display) television models and stock was closed wit h2.8% gains – BSE
• Infrastructure shares are hot pick at any time in 2009-2010 for all investors in india. Reliance Capital has launched infrastructure fund and SBI Funds Management, French insurer AXA, Sundaram BNP Paribas, Franklin Templeton and Deutsche Bank are also planning to launch infrastructure funds in this financial year. Read more on ET
• Stocks and U.S. futures gained as the Organization for Economic Cooperation and Development forecast expansion in 2010. The dollar fell against higher- yielding currencies on speculation the Federal Reserve will signal no change in interest rates. – Bloomberg.com
• TVS Motors announced its Flame brand of motorcycles under a new name TVS Flame SR 125 for which two majors — TVS Motor and Bajaj Auto were fighting for the last two years – BS
• Plans by South African mobile giant MTN and India’s Bharti Airtel to form a huge network straddling Asia, Africa and the Middle East could be affected by Iran’s blockage of mobile network signals in the wake of the ongoing strife – ET
• Haryana Government has got support of the World Bank at Delhi for a $330 million loan to support one of its power sector projects namely Haryana Power System Development Project – BS
• State Bank of India (SBI) reduced a 50 basis point in its benchmark prime lending rate (BPLR) to 11.75 per cent – BS, ET
• Residential property prices to fall 8-10% more in 2009 – Crisil, ET

Today’s Trading Calls

• Market Today’s Pre-opening Outlook: Be careful today before taking Long position as today is expiry day. All Global markets were trading higher including DOW jones and Nasdaq trading with 1-2% gain and all EU markets closed with strong positive gap. Nifty was closed above 4260 resistance level but below 4300 level. We may see opening above 4310 level and then market should trade above 4320 for hours. But in end we may see some selling pressure. Keep watch on PUT 4200, 4100 for July Options.
• On 24 June 2009, Foreign institutional investors (FIIs) were net sellers of Rs 791.85 crore and Domestic institutional investors (DIIs) were net buyers of Rs 728.26 crore on Bombay Stock Exchange – BSE Data
• Nifty Levels: Current: 4292 Support Level 4260, 4215, 4165  Resistance Level 4320, 4350, 4440
• Buy Educomp solutions: CMP 3421 Target 3610, 3670 Stop Loss 3335
• Sell Austral Coke & Projects: CMP 261.75 Target 255, 250 Stop Loss 264 (1 Week Target 234)
• Buy S.E. Investments: CMP 175.9 Long Target 273 Stop Loss 154 ( Investment Should be for atleast 6 months)
• Buy IVRCL Infra, Lanco Infra and GMR Infra on dips
• Buy Welspun Gujarat: CMP 209 Target 214, 217 Stop Loss 205
• Buy TVS Motor: CMP 46.45 Target 48.65 Short Target 51.5 Stop Loss 45.4
• Buy JP Assoc: CMP 213.4 Target 218, 221 Stop Loss 209
• Buy JP Hydro: CMP 86.2 Target 89, 90.6 Stop Loss 85
• Buy IDBI: CMP 114 Target 117, 119.8 Stop Loss 111
• Buy TV18: CMP 129 Target 133, 136 Short Term Target 140 Stop Loss 126
• Buy Opto Ckt: Short Term Target 172 ( 2 Weeks ) SL 146
• Buy Sesa Goa: CMP 186 Target 191 Stop Loss 184
• Past Trading Calls View Here

Mid-Session Updates