Market Report 19 Feb 08

It was a mere fight between bulls and bears in the markets yesterday . The positive trend was there in mid caps and selective stocks. The markets closed with slight negative mindset. There is no clear cut cluees where the markets is headed today we expect markest to move towards flat kind of opening and with positive bias..

One can trade long till nifty trades abv 5250 mark or 5300 mark. The pre budgt rally is looking like a bit slow , but once we cross 5600 in nifty we can surely see 5800-5900 in nifty .
The retail participation is not that much in markets thats what making the volumes quite loq.

Government today announced the issue of '7.95 per cent Fertilizer Companies Government of India Special Bonds, 2026’ for Rs 3,610 crore (nominal) to 23 fertiliser companies as compensation towards fertiliser subsidy during the current financial year. Chambal Fert, Magalore Fert, Nagarjuna Fert, RCF, Tata Chemicas, Deepak Fertiizers are reported to be eligible for the above mentioned bonds..

FIIs were net sellers of Rs3.42bn (provisional) in the cash segment on Monday. Local institutions too were net sellers of Rs1.34bn..

Financial Technologies has informed that its subsidiary, the Multi Commodity Exchange of India Ltd. (MCX) yesterday filed the Draft Red Herring Prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) in connection with the proposed IPO...

Shares of OnMobile Global Ltd. will get listed today. The IPO of public sector power lending company Rural Electrification Corp. will open today. The issue is expected to do well despite the recent turbulence in the primary market and the disappointing listing of Reliance Power. Most brokerages have recommended a 'subscribe' to the issue...

watch out for..

Reliance Industries is in advanced talks with the New York based Vornado Realty Trust to float an over US$1bn fund..

Tata Power has tied up with Thales to offer optronics solutions for India’s multi-role combat aircraft and other air-borne platforms..

Indiabulls Financial Services launched chartered aviation services after successful foray into financial services, broking, real estate, retail and power ventures..

United Phosphorus Ltd (UPL) has purchased 100% stake through its subsidiary of Evofarms group of Companies (Evofarms), a major Marketing Company of generic products in the crop protection industry headquartered in Bogota, Colombia..

Everest Kanto Cylinder has granted an In Principle approval for acquisition of all the assets of a large manufacturing Company in the United States of America in a similar line of business, for approximately USD 70 million...

Unitech is developing 97 acres under slum redevelopment project near the Vakola flyover..

Bank of Baroda will consider lowering lending rates on February 23..

Educomp Solutions has joined hands with Ansal Properties to set up schools in 16 integrated townships over the next three years..

Assam Co is planning to list one of the group companies on the AIM part of the London Stock Exchange, by October. .

Aditya Birla Group is likely to enter into alloy steel production with a 2mn tons per annum plant through Vikram Ispat...

Tata Sons has made Tata Investment Corporation its subsidiary by consolidating its stake to ~55%..

Sensex likely to take support at 17780 -17970...resisi at 18228 and 18993 lvlss..

Hava a grt day !!!