Headlines : 26 February 2009
Corporate News Headline
• Power Grid Corp. is seeking to borrow as much as USD 2 bn for its network expansion. (Bloomberg)
• Suzlon Energy is planning to supply wind turbine generators to AGL Energy to help the Australian firm generate 113.4 MW of power, for an undisclosed amount. (BS)
• SBI is planning to raise around Rs. 20 bn through the issue of upper Tier-II bonds to LIC by the end of this month. (BS)
Economic and Political Headline
• The government is planning to invest Rs. 558 bn in the port sector of the country and would also encourage investment from the private sector. (BS)
• The Finance Ministry said the country's foreign exchange reserves are at a comfortable level and the economy will not be directly impacted. (BS)
• The sales of previously owned US homes unexpectedly declined 5.3% to an annual rate of 4.49 mn even as falling prices made them more affordable, signaling that the housing slump is further from a bottom than previously estimated. (Bloomberg)
• Power Grid Corp. is seeking to borrow as much as USD 2 bn for its network expansion. (Bloomberg)
• Suzlon Energy is planning to supply wind turbine generators to AGL Energy to help the Australian firm generate 113.4 MW of power, for an undisclosed amount. (BS)
• SBI is planning to raise around Rs. 20 bn through the issue of upper Tier-II bonds to LIC by the end of this month. (BS)
Economic and Political Headline
• The government is planning to invest Rs. 558 bn in the port sector of the country and would also encourage investment from the private sector. (BS)
• The Finance Ministry said the country's foreign exchange reserves are at a comfortable level and the economy will not be directly impacted. (BS)
• The sales of previously owned US homes unexpectedly declined 5.3% to an annual rate of 4.49 mn even as falling prices made them more affordable, signaling that the housing slump is further from a bottom than previously estimated. (Bloomberg)
NIFTY FUTURES (F & O)
Below 2741 level, expect profit booking up to 2724-2726 zone and thereafter slide may continue up to 2708-2710 zone by non-stop.
Hurdles at 2758 & 2767 levels. Above these levels, buying may continue up to 2772-2774 zone by non-stop.
Cross above 2787-2789 zone, expect a jump up to 2803-2805 zone and supply expected at around this zone and have caution.
On Negative Side, rebound expected at around 2692-2694 zone. Stop Loss at 2677-2679 zone.
Short-Term Investors:
Bearish Trend. 3 closes below 2974 level, it can tumble up to 2510 level by non-stop.
Strong & Weak futures
This is list of 10 strong futures:
This is list of 10 strong futures:
APIL, SRF, Tech Mahindra, Amtek Auto, Maruti, M&M, Ultra Cemco, Grasim, Shree Cem & Lupin.
And this is list of 10 Weak Futures:
EKC, Aban, Mah Life, GDL, J&K Bank, Tulip, IOB, Indian Bank, Triveni & Pantaloon.
Nifty is in Down Trend.
Nifty is in Down Trend.
The Dow Jones Industrial Average closed at 7,270.89. Down by 80.05 points.
The Broader S&P 500 closed at 764.90. Down by 8.24 points.
The Nasdaq Composite Index closed at 1,425.43. Down by 16.40 points.
The partially convertible rupee <INR=IN> closed at 49.96/97 per dollar on yesterday, below its previous close of 49.87/88.
NIFTY & SENSEX SPOT LEVELS FOR TODAY
 | 2762.50 | ( 1.05 %) | 28.60 |  |
| 1 | 2 | 3 | ||
| Resistance | 2790.08 | 2817.67 | 2845.98 | |
| Support | 2734.18 | 2705.87 | 2678.28 | |
 | 8902.56 | ( 0.91 %) | 80.50 | | |
| 1 | 2 | 3 | |||
| Resistance | 8971.83 | 9041.09 | 9087.15 | ||
| Support | 8856.51 | 8810.45 | 8741.19 | ||
FII DATA
| FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| FII | 25-Feb-2009 | 831.33 | 1215.7 | -384.37 |
| DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) | ||||
| Category | Date | Buy Value | Sell Value | Net Value |
| DII | 25-Feb-2009 | 752.76 | 384.92 | 367.84 |
--
Arvind Parekh
+ 91 98432 32381
