Opening Bell: Nifty (Spot) Support for the day exists at 5980-5940 and Resistance to the up-move is at around 6040-6100. Stay cautious as high volatility expected ahead of expiry. Book profit at regular interval.
We think everybody is trying to calculate the liquidity factor into the market. In our view point liquidity is already there in the system. Probably the nervousness which could come into the market could be on the QE2 announcement and that could possibly take its toll.
Glenmark Pharmaceuticals quarter net beats forecast, shares rise
Glenmark consolidated quarterly net profit rose on robust growth in generics and APIS, pushing its shares up more than 5 per cent.
Tech Mahindra dips 3 pc on BSE on weak Q2 results Tech Mahindra fell by nearly three per cent on the Bombay Stock Exchange, after the company reported a decline in its profit for the second quarter.
Gyscoal Alloys debuts, soars over 58% in the BSE morning trade Gyscoal Alloys on its debut opened nearly eight per cent higher on the BSE from its issue price of Rs 71. Soon after, the scrip soared by 58.7%.
BS Transcomm debuts, soars over 22% in early trade on NSE BS Transcomm, which provides towers to telcos and power transmission firms, witnessed a firm listing and jumped to an early high of Rs 303.70.
Tech Mahindra drops on results, BT stake sale buzz Tech Mahindra said its Q2 profit fell by 10.83% to Rs 150.67 cr due to a charge of Rs 36.70 cr it incurred in relation to its shareholding in Mahindra Satyam.
Cotton spinning companies to see good times With cotton crop failing in Pakistan and lower growth in US, international cotton prices are likely to be dominated by India.
Kalanithi Maran raises stake in SpiceJet to 31 pc The shares were acquired on Oct 26 through an off-market transaction and Maran's direct holding in SpiceJet now stands at 30.98 percent.
JK Paper up 6 pc on fund raising plans Shares of JK Paper Ltd rose more than 6 percent after the company said after the trading hours on Tuesday that its board will meet on Oct 29 to consider raising funds via QIP, FCCB issue.
Raymond rises on strong Q2 results Shares of Raymond rose nearly 5 percent to hit a 52-week high of 458 rupees after the company said on Tuesday its Sept-quarter net profit rose to 391.8 million rupees compared with 74.3 million rupees, a year ago. At 9:21 a.m. shares were up 3.73 percent at 453.50 rupees.
Hindustan Media shares up; September quarter net up 24 times Shares of Hindustan Media Ventures Ltd rose more than 4 percent after the firm's July-September net profit soared 24 times.
Prestige Estates Projects lists at Rs 190/share Shares of Prestige Estates Projects listed at Rs 190, premium of 3.85 per cent against issue price of Rs 183 per share on the NSE.
China shares end down 1.5 pc on weak commodities
China's key stock index closed down 1.5 per cent on Wednesday dampened by falls in energy and non ferrous issues.
European stocks retreat early on QE doubts European stocks fell as mounting doubts on how aggressive the Federal Reserve will be on further quantitative easing rattled investors.
Australia shares finish weaker on miners, ASX Australian shares gave up early gains to close 0.9% weaker on Wednesday after a sharp drop in the Australian dollar hit resource stocks.
Seoul shares dip 0.5 pc amid caution; techs down Seoul shares slipped after as caution set the tone before key domestic technology earnings and US mid-term congressional elections.
HK, Shanghai shares fall on Fed views; commodities weaken Hong Kong and Shanghai stocks were lower by midday Wednesday, with commodities issues among the top losers.
Nikkei inches up but weighed by Asian shares Nikkei average ended slightly higher but off from its morning highs as falls in Hong Kong and Shanghai shares prompted profit-taking.
Hong Kong stocks down 1.60 per cent by break Hong Kong shares ended the morning session 1.60 percent lower on Wednesday following recent gains and as traders looked ahead to a key US central bank meeting next week.
Taiwan stocks end 0.63 per cent lower Taiwan's TAIEX share index closed 0.63 percent or 52.19 points lower on Wednesday at 8,291.04.
Dollar printing is feeding inflation in China: Minister Rampant issuance of dollars by the United States is saddling China with "imported inflation", Chinese commerce minister Chen Deming was quoted as saying by state media on Wednesday.
Singapore-Australia exchange tie up threatens Tokyo: Report Japan's top exchange will seek its own alliances if a planned multi-billion dollar merger of the Singapore and Sydney stock exchanges goes ahead.
Asian stocks up but limited gains on US concerns Asian stock markets climbed in early trading Wednesday, but their gains were modest on growing worries about US Federal Reserve's stimulus.
COMMODITIES
BULLION
Cardamom futures strengthen on firm spot demand
Cardamom futures prices rose for the second straight day by adding Rs 20.10 to Rs 890 per kg today, as traders enlarged their positions.
Lead futures down 1.18 pc on global cues, profit booking Lead futures prices fell by over one per cent to Rs 113.15 per kg today, after speculators offloaded their positions.
Zinc futures plunge 1.86 pc on profit booking, global cues Tracking weak trend in base metals at the London Metal Exchange (LME) and profit booking by speculators, zinc futures prices fell sharply.
Copper futures melt on profit booking, global cues Amid profit booking by speculators and weak trend overseas, copper futures prices fell by 0.53 per cent, to Rs 382.15 per kg today.
Nickel futures down 0.54 pc on profit taking Taking weak cues from global markets coupled with profit booking by speculators, nickel futures prices fell by 0.54 per cent.
Oil falls to near $82 as US crude supplies rise Benchmark oil for December delivery was down 37 cents at $82.18 a barrel at middaySingapore time in electronic trading on the New York Mercantile Exchange.
Base metals fall after early gains; dollar drives Base metals gave up early gains on Wednesday as the dollar rose and on speculation the US Fed may buy less bonds than expected.
Oil falls on stronger dollar, US supply jump Oil fell on Wednesday as the dollar strengthened and after an industry report showed a bigger-than-expected gain in US crude inventories last week.
Supply concerns keep rubber prices buoyant Concerns about a global supply squeeze continued to keep the natural rubber buoyant both in the futures and spot markets.
Coconut prices double despite a rich harvest as exports jump 145% y-o-y The price of a coconut, a must for all auspicious occasions, has doubled this Diwali as exports to neighbouring countries eat into India’s bumper harvest.
Gold can still prove a good bet for value investors
Even though the metal has gained 21% this year, there are factors, like demand in India, that can still push up its price.
Silver futures maintain rising trend on global trend Silver futures prices shot up by Rs 56 to Rs 35,530 kg today, after speculators enlarged their position.
Gold futures rise 0.21 pc on global cues Continuing its winning streak, gold prices surged 0.21 per cent to Rs 19,901 per ten gram in futures trade today.
Gold buying continues; premiums edge up Gold buying edged up on Tuesday afternoon as prices steadied, pushing premiums higher, with traders awaiting clear direction.
Gold strengthens on persistent demand, silver too rally Gold prices rose further at the bullion market due to sustained buying support from stockists and jewellers ahead of festivities amid firm trend in the overseas market.
Gold seen recovering on dollar, physical buying Gold futures are likely to recover from near three-week lows supported by continued weakness in the dollar, which enhances the appeal as an alternative investment, analysts said.
Gold may gain further; but all-time peak distant Gold futures are likely to extend gains for third straight quarter in December, as investors seek a safe hedge against global uncertainty.
Gold buying recoils as prices rebound from low Gold buying retreated from a pick-up in purchases seen last week, as prices extended gains to recover from a three-week low.
Silver futures rise 0.74 pc on firming Asian cues Silver futures prices were up 0.74 per cent at Rs 35,438 per kg today, as speculators created huge positions, tracking firming trend in the Asian region.
Gold futures up on firm Asian cues, domestic demand Supported by firming trend in Asian trade and strong domestic demand, gold futures prices rose by Rs 97 to Rs 19,899 per 10 gram.
Record high prices no bar for gold sales With just one day to go for Karva Chauth and less than a fortnight for Diwali, gold sales in Delhi are touching a new high.
