HDFC Bank | Bajaj Hindusthan | Balrampur Chini | Jayaswal Neco | SEL Manufacturing | Peninsula Land and Sun Pharma are stocks, which are in the news today.
Market cues: FIIs net buy USD 137.6 million in cash market.
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The rupee is likely to be choppy today on mixed overnight cues. The inability of other currencies to appreciate much against the dollar may hold traders back. The range for the day is seen between 44.55- 44.75/$, says Vikram Nanivadekar, Verity Analytics.
Tight liquidity and high inflation do not augur well for bonds. RBI's buyback may end next week and fresh auction supply has started in primary markets. The 10-year yield is seen between 7.98- 8.05%, says Sandeep Bagla, ICICI Securities Primary Dealership.
F&O cues: Total Nifty futures was up Rs 1,645 crore and Options was up Rs 4186 crore.
The markets are in a good grove and sentiment is bullish. Analysts believe Nifty will grind to a new high this year.
In commodities - oil prices rose to a 27-month peak as upbeat European and US manufacturing data and forecasts for cold weather reinforced optimism about economic and energy demand growth. Currently it is trading at USD 91.47 per barrel.
Indian ADRs ended mostly in green on Monday. In the telecom space, Tata Communication was up 5.55% at $ 11.98 and MTNL was up 7.41% at $ 2.65. In the banking space, HDFC Bank was up 1.43% at $ 169.50 and ICICI Bank was up 0.91% at $ 51.10.
At 7: 43 am (IST), Asian markets were trading higher. China's Shanghai Composite was up 0.15% or 4.13 points at 2,812.21. Hong Kong's Hang Seng was up 0.18% or 41.26 points at 23,477.31. Japan's Nikkei added 1.49% or 152.65 points at 10,381.57. Singapore's Straits Times gained 0.51% or 16.66 points at 3,252.43.
In the US markets, stocks ended up nearly a percent or more as investors flocked to stocks, pushing the market to new two-year highs on the first trading day of the year. The S&P 500 closed at its highest levels since September.
The Dow Jones Industrial Average ended up 93 points at 11671. The Nasdaq Composite was up 39 points at 2691.5 and S&P 500 up 14 points at 1272.
Market regulator SEBI has moved the Supreme Court against a High Court order staying the Securities and Exchange Board of India's ban on a Sahara Group firm to raise funds from the public.
There could be some reprieve for microfinance institutions. Banks have agreed to reschedule loans given to MFIs only after these companies decide to reschedule loans given to poor borrowers.
ICICI Bank has increased its base rate by 0.50% and prime lending rate by 0.25%.
SBI has revised the Benchmark Prime Lending rate upwards by 25 bps from 12.50% p.a. to 12.75% p.a. effective from January 03, 2011.
Amtek India has approved the payment of dividend at 20% on the face value of Rs 2 per share i.e Rs 0.40 per share.
Dabur wholly owned subsidiary, Dermoviva Skin Essentials Inc. has completed the acquisition process by acquiring 100% stake in Namaste Group, US.
Unicon Investment is bullish on Jindal Poly Films (JPFL) and has recommended accumulate rating on the stock with a target of Rs 620 in its December 31, 2010 research report.
RBI makes Public the Engagement Schedule of its Top Executives
Networth Stock Broking is bullish on PIX Transmission and has recommended buy rating on the stock with a target of Rs 165 in its January 3, 2011 research report.
Sushil Finance is bullish on HiTech Gears (HGL) and has recommended accumulate rating on the stock with a target of Rs 150 in its January 3, 2011 research report.
Government of India announce the sale of three dated securities for ` 11,000 crore on January 7, 2011
KRChoksey is bullish on Union Bank of India and has recommended buy rating on the stock with a target of Rs 391 in its January 3, 2011 research report.