Stocks In News:
Reliance Industries Ltd: RIL will continue to supply gas at $4.2 a unit to 16 fertiliser units until the government comes out with another notification in this regard. This follows the asking RIL to continue supplies on existing terms in the interim period, after talks between both the parties remained inconclusive, said media reports.
Coal India Ltd: Coal India has sold shares worth over Rs 550 crore towards the CPSE's exchange traded fund as part of government's disinvestment programme.
Coal India Ltd: Coal India has sold shares worth over Rs 550 crore towards the CPSE's exchange traded fund as part of government's disinvestment programme.
NTPC: State-run NTPC the biggest power producer in India, said it was preparing to start commercial operations at three new solar power plants, doubling its capacity from solar energy sources
Reliance Communications Ltd: Reliance Communications launched two global roaming packs -- Unique UK and Fabulous Five -- Monday for its postpaid GSM customers.
Reliance Communications Ltd: Reliance Communications launched two global roaming packs -- Unique UK and Fabulous Five -- Monday for its postpaid GSM customers.
JSPL: After investing Rs 12,500 crore this year, the Naveen Jindal-promoted Jindal Steel & Power plans to focus on debt reduction in 2014-15, along with an increase in earnings before interest, tax and amortisation (Ebitda), said media reports.
Lakshmi Vilas Bank: The private lender has sought market regulator's Sebi approval to raise Rs 505 crore through rights issue. Issue of equity shares on a rights basis to its existing equity shareholders would aggregate up to Rs 505 crore, draft letter filed by Lakshmi Vilas Bank with Securities and Exchange Board of India (Sebi) showed.
Religare Enterprises Ltd: The company approved of allotting Rs 550 crore equity shares on preferential basis to two non-promoter companies, including Standard Chartered Bank, said media reports.
Kalpataru Power Transmission: KPTL said it has bagged orders worth nearly Rs 700 crore, including from overseas. The orders are in the transmission and infrastructure verticals.
Lakshmi Vilas Bank: The private lender has sought market regulator's Sebi approval to raise Rs 505 crore through rights issue. Issue of equity shares on a rights basis to its existing equity shareholders would aggregate up to Rs 505 crore, draft letter filed by Lakshmi Vilas Bank with Securities and Exchange Board of India (Sebi) showed.
Religare Enterprises Ltd: The company approved of allotting Rs 550 crore equity shares on preferential basis to two non-promoter companies, including Standard Chartered Bank, said media reports.
Kalpataru Power Transmission: KPTL said it has bagged orders worth nearly Rs 700 crore, including from overseas. The orders are in the transmission and infrastructure verticals.
IFB Agro Industries Ltd: IFB Agro IndustriesBSE 4.04 % has informed the BSE that a meeting of the board of directors will be held on April 7 to consider the acquisition of the Co2 (carbon dioxide) and dry ice business of Nurpur Gases Pvt Ltd, a promoter group company.
Suzlon Energy Ltd: Pune-based Suzlon EnergyBSE 12.23 % Limited, the world's fifth-largest wind turbine supplier, is planning to sell its assets and raise about Rs 1,500 crore through it.
Suzlon Energy Ltd: Pune-based Suzlon EnergyBSE 12.23 % Limited, the world's fifth-largest wind turbine supplier, is planning to sell its assets and raise about Rs 1,500 crore through it.
Nifty News:
Indian markets are expected to trade in a range on Tuesday following positive trend seen in other Asian markets. The key support for the index is around 6,670 levels.
"The Nifty is expected to trend up till 6740 in the next couple of days. In this period the key support will be at 6670 and resistance will be at 6740," said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan.
"The Nifty has been forming higher tops and higher bottoms; it has also closed above the previous swing's high which is a positive sign for the market. The short-term bias remains positive for a target of 6770 with reversal at 6470," he added.
Mehta is of the view that the medium-term outlook remains positive as the index has started forming higher tops and higher bottoms on the weekly chart and the momentum indicator has given a positive cross-over.
Pre-market: Nifty seen opening higher; RBI policy eyed
The 50-share Nifty index is expected to open higher on Tuesday following positive trend seen in other Asian markets and ahead of Reserve Bank of India's policy review due later today.
RBI Governor Raghuram Rajan, who has made clear that his primary goal is to tame prices, may hold the repo rate at 8 per cent citing inflationary expectations, according to an ET poll. There won't be any change in the repo rate, said 19 of 20 institutions polled by ET.
RBI Governor Raghuram Rajan, who has made clear that his primary goal is to tame prices, may hold the repo rate at 8 per cent citing inflationary expectations, according to an ET poll. There won't be any change in the repo rate, said 19 of 20 institutions polled by ET.
At 07:30 a.m., Nifty India stock futures in Singapore were trading 24 point higher at 6778.50, indicating a higher opening on the domestic market.
On the macro front, Markit Economics will unveil HSBC India Manufacturing PMI, which gauges the business activity of India's factories, for March 2014 today.
The Nifty extended its winning for eighth consecutive session and ended at fresh closing high on Monday, above 6,700, on the back of strong dollars inflows.
As per experts, investors seem to be waiting on the sidelines to watch out for RBI's policy action later today. Status quo is what most people on the street are expecting, on the back of falling inflation rates.
However, the underlying momentum is still strong and would continue to remain firm till the time 6620 is held as a support.
"On the higher side it has a very strong resistance Placed at 6775 on a positional basis. If over the next couple of sessions Nifty is unable to clear 6775 and breaches the level of 6620 then there is a likelihood of a pause to the Current rally," GEPL Capital said in a report.
"Intraday support levels are placed at 6660 and below that at 6620 whereas intraday resistance levels are placed at 6730 and 6775," added the report.
Overnight, US stocks ended higher with the S&P 500 ending both March and the first quarter of 2014 with moderate gains, after Federal Reserve Chair Janet Yellen relieved concerns about a rate hike coming earlier than expected.
"In her first public speech since becoming Fed chair two months ago, Yellen said that the U.S. central bank's "extraordinary" commitment to boosting the economy would be needed for some time to come," Reuters reported.
Asian shares start lower ahead of a key manufacturing survey from China even as Federal Reserve Chair Janet Yellen's dovish comments eased concerns of an early start to rate hikes.
"Recent economic data has pointed to the weakest growth there since the global financial crisis, and any signs of further weakness in a survey of Chinese manufacturing activity due around 0100 GMT will likely add to the case for more action from Beijing.
Global risk assets were partly underpinned in recent days on hopes China would take steps to stimulate its sagging economy as the prospect of slowing growth in China has long been a market headwind, added the Reuters report.
U.S. crude futures stood at $101.41, off Friday's high of $102.24.
Japan's Nikkei 225 index was trading 0.08 per cent lower at 14,815.50 and Hong Kong's Hang Seng index was trading 0.63 per cent higher at 22,295.12.
South Korea's Kospi index was trading 0.06 per cent higher at 1,986. China's Shanghai index was trading 0.13 per cent higher at 2,035.
On the macro front, Markit Economics will unveil HSBC India Manufacturing PMI, which gauges the business activity of India's factories, for March 2014 today.
The Nifty extended its winning for eighth consecutive session and ended at fresh closing high on Monday, above 6,700, on the back of strong dollars inflows.
As per experts, investors seem to be waiting on the sidelines to watch out for RBI's policy action later today. Status quo is what most people on the street are expecting, on the back of falling inflation rates.
However, the underlying momentum is still strong and would continue to remain firm till the time 6620 is held as a support.
"On the higher side it has a very strong resistance Placed at 6775 on a positional basis. If over the next couple of sessions Nifty is unable to clear 6775 and breaches the level of 6620 then there is a likelihood of a pause to the Current rally," GEPL Capital said in a report.
"Intraday support levels are placed at 6660 and below that at 6620 whereas intraday resistance levels are placed at 6730 and 6775," added the report.
Overnight, US stocks ended higher with the S&P 500 ending both March and the first quarter of 2014 with moderate gains, after Federal Reserve Chair Janet Yellen relieved concerns about a rate hike coming earlier than expected.
"In her first public speech since becoming Fed chair two months ago, Yellen said that the U.S. central bank's "extraordinary" commitment to boosting the economy would be needed for some time to come," Reuters reported.
Asian shares start lower ahead of a key manufacturing survey from China even as Federal Reserve Chair Janet Yellen's dovish comments eased concerns of an early start to rate hikes.
"Recent economic data has pointed to the weakest growth there since the global financial crisis, and any signs of further weakness in a survey of Chinese manufacturing activity due around 0100 GMT will likely add to the case for more action from Beijing.
Global risk assets were partly underpinned in recent days on hopes China would take steps to stimulate its sagging economy as the prospect of slowing growth in China has long been a market headwind, added the Reuters report.
U.S. crude futures stood at $101.41, off Friday's high of $102.24.
Japan's Nikkei 225 index was trading 0.08 per cent lower at 14,815.50 and Hong Kong's Hang Seng index was trading 0.63 per cent higher at 22,295.12.
South Korea's Kospi index was trading 0.06 per cent higher at 1,986. China's Shanghai index was trading 0.13 per cent higher at 2,035.
Nifty may test 6800: R K Global
A late recovery led the Index to close at 6704.20 with a hanging man candle. We still feel as it is getting closer to our target of 6800, but losing its upward momentum. Though fresh stock specific momentum has been observed in a few other stocks as well that would keep the momentum going on. We still believe 6800 is very much achievable under such circumstances where metal stocks are going to play a major role.
Trading with bullish bias is advised with keeping in mind the respective support & resistance levels, these are 6610 and 6720. We expect Nifty got the potential to move beyond 6720 levels but a backward momentum could come into play to gain more momentum for the successful penetration of 6720 towards 6800 levels.
F&O cues: Nifty 6700 Put adds 9 lakh shares in OI
Nifty 6400 Put added 4 lakh shares in Open Interest on March 31
Nifty 6700 Call added 3.7 lakh shares in Open Interest
Nifty 6700 Put added 9 lakh shares in Open Interest Nifty
7100 Call added 2.7 lakh shares in Open Interest FIIs in F&O on March 31 (Provisional data from NSE)
FIIs net sell Rs 177 crore in Index Futures; Open Interest contracts up by 16,918
FIIs net sell Rs 11 crore in Index Options; Open Interest contracts up by 60,716
FIIs net buy Rs 80 crore in Stock Futures; Open Interest contracts up by 2,050
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