Support & Resistances for 31-09-2009

Support & Resistances for 31-09-2009
 
    SENSEX NIFTY FUTURE (Oct 2009)
    BANKNIFTY NIFTY
30/09/2009 Open  16868.46 5007.65 8484.00 4992.00
High 17142.52 5087.60 8789.00 5080.00
Low 14868.46 5004.35 8467.00 4992.00
Close 17126.84 5083.95 8762.90 5073.55
LTP 17126.84 5083.95 8785.00 5073.00
Range 2274.06 83.25 322.00 88.00
31/09/2009 R3 20927.39 5225.13 9316.97 5224.52
R2 18653.33 5141.88 8994.97 5136.52
R1 17890.09 5112.92 8878.93 5105.03
PP 16379.27 5058.63 8672.97 5048.52
S1 15616.03 5029.67 8556.93 5017.03
S2 14105.21 4975.38 8350.97 4960.52
S3 11831.15 4892.13 8028.97 4872.52
 
R1/R2/R3: Resistance
PP: Pivot Point
S1/S2/S3: Supports

Pivot Point (31 Sep 2009)

31/09/2009 Pivot Point NSE
Symbol   LTP S3 S2 S1 Pivot Point R1 R2 R3
ONGC 1,172.00 1081.17 1132.17 1152.08 1183.17 1203.08 1234.17 1285.17
SBIN 2,194.95 1898.78 2032.58 2113.77 2166.38 2247.57 2300.18 2433.98
STER 776.10 713.35 741.30 758.70 769.25 786.65 797.20 825.15
RCOM 309.35 280.53 293.38 301.37 306.23 314.22 319.08 331.93
INFOSYSTCH 2,306.40 2176.47 2237.47 2271.93 2298.47 2332.93 2359.47 2420.47
BHARTIARTL 418.75 404.12 411.82 415.28 419.52 422.98 427.22 434.92
NTPC 213.75 204.33 208.58 211.17 212.83 215.42 217.08 221.33
BHEL 2,328.85 2195.15 2255.35 2292.10 2315.55 2352.30 2375.75 2435.95
JINDALSTEL 587.00 551.37 569.07 578.03 586.77 595.73 604.47 622.17
SAIL 170.90 161.70 166.10 168.50 170.50 172.90 174.90 179.30
LT 1,689.20 1565.00 1620.60 1654.90 1676.20 1710.50 1731.80 1787.40
DLF 438.00 401.03 417.43 427.72 433.83 444.12 450.23 466.63
TATASTEEL 509.45 485.48 497.28 503.37 509.08 515.17 520.88 532.68
RELINFRA 1,221.25 1155.57 1188.62 1204.93 1221.67 1237.98 1254.72 1287.77
RELCAPITAL 917.95 871.82 893.32 905.63 914.82 927.13 936.32 957.82
RELIANCE 2,201.65 2097.38 2145.28 2173.47 2193.18 2221.37 2241.08 2288.98
ICICIBANK 907.60 793.08 842.83 875.22 892.58 924.97 942.33 992.08
UNITECH 107.40 102.53 104.93 106.17 107.33 108.57 109.73 112.13
HDFCBANK 1,650.50 1526.63 1582.43 1616.47 1638.23 1672.27 1694.03 1749.83
HDFC 2,789.55 2631.52 2703.32 2746.43 2775.12 2818.23 2846.92 2918.72
TATAMOTORS 591.15 561.87 576.22 583.68 590.57 598.03 604.92 619.27
AXISBANK 985.15 835.38 902.78 943.97 970.18 1011.37 1037.58 1104.98
ITC 233.05 227.22 230.12 231.58 233.02 234.48 235.92 238.82
TCS 621.00 597.47 608.07 614.53 618.67 625.13 629.27 639.87
RPOWER 167.85 163.43 165.78 166.82 168.13 169.17 170.48 172.83
CAIRN 261.85 256.52 259.42 260.63 262.32 263.53 265.22 268.12
M&M 883.20 791.80 833.80 858.50 875.80 900.50 917.80 959.80
TATAPOWER 1,318.05 1261.92 1290.82 1304.43 1319.72 1333.33 1348.62 1377.52
HINDUNILVR 262.60 253.20 258.20 260.40 263.20 265.40 268.20 273.20
POWERGRID 109.95 105.05 107.85 108.90 110.65 111.70 113.45 116.25
MARUTI 1,701.40 1472.63 1580.93 1641.17 1689.23 1749.47 1797.53 1905.83
IDEA 75.25 72.82 74.22 74.73 75.62 76.13 77.02 78.42
WIPRO 602.10 550.15 573.50 587.80 596.85 611.15 620.20 643.55
SUNPHARMA 1,407.65 1340.07 1375.42 1391.53 1410.77 1426.88 1446.12 1481.47
GRASIM 2,773.65 2622.55 2704.55 2739.10 2786.55 2821.10 2868.55 2950.55
TATACOMM^ 484.85 459.12 470.62 477.73 482.12 489.23 493.62 505.12
GAIL 359.15 341.95 350.65 354.90 359.35 363.60 368.05 376.75
SIEMENS 557.15 535.55 546.05 551.60 556.55 562.10 567.05 577.55
RANBAXY 403.50 386.18 394.83 399.17 403.48 407.82 412.13 420.78
ACC 820.25 794.15 806.95 813.60 819.75 826.40 832.55 845.35
CIPLA 279.90 250.82 266.17 273.03 281.52 288.38 296.87 312.22
HEROHONDA 1,672.40 1612.97 1642.07 1657.23 1671.17 1686.33 1700.27 1729.37
HINDALCO 129.05 120.88 124.68 126.87 128.48 130.67 132.28 136.08
PNB 797.65 716.05 755.95 776.80 795.85 816.70 835.75 875.65
SUZLON 91.60 88.15 90.10 90.85 92.05 92.80 94.00 95.95
AMBUJACEM 99.65 95.05 97.55 98.60 100.05 101.10 102.55 105.05
NATIONALUM^ 348.05 336.78 343.28 345.67 349.78 352.17 356.28 362.78
ABB 784.45 740.15 760.15 772.30 780.15 792.30 800.15 820.15
HCLTECH 340.80 322.28 331.13 335.97 339.98 344.82 348.83 357.68
BPCL 574.05 523.72 548.02 561.03 572.32 585.33 596.62 620.92
IDFC* 146.05 136.27 140.72 143.38 145.17 147.83 149.62 154.07
JPASSOCIAT* 237.50 223.18 230.03 233.77 236.88 240.62 243.73 250.58
                 
* NEW ENTRY FROM 20 OCT 2009            
^ TO BE REPLACED FROM 20 OCT 2009          

Headlines (30 Sep 2009)

Date: 30 September 2009

Thought for the day

“You can do anything in life you set your mind to, provided it is powered by your heart.”

—Doug Firebaugh

GENERAL

1)International Atomic Energy Agency (IAEA) Director-General Mohammad ElBaradei on Tuesday acknowledged India as a “leading advocate” for nuclear disarmament and felt the world must listen to its “voice” for the elimination of nuclear weapons. In the civil nuclear arena, he described India as a “role model” for developing countries and wanted them to gain from its technological expertise.

Hindu

CORPORATE / INDUSTRY

 2)The trickle has turned into a deluge. India’s Inc’s order book has more than doubled to an all-time high of Rs 73,320 crore in the second quarter of the current financial year compared to the first quarter. On a year-on-year basis, the increase is 21 per cent. An analysis of order book announcements by 63 companies shows that capital goods, engineering and infrastructure have led the way, cornering 86 per cent (Rs 63,439 crore) of the total orders. The remaining Rs 9,881 crore went to gems & Jewellery, pharmaceuticals and telecom. Larsen & Toubro (L&T) topped the list with new orders worth Rs 14,253 crore.

BS

3)Tamil Nadu-based India Cements Ltd(ICL) has firmed up plans to produce power to meet its current and future requirements. As part of its strategy to become an integrated cement company, it is looking to acquire a coal mine in Indonesia and an overseas gypsum producer to meet its fuel, as well as raw material requirement.

FE

MONEY / BANKING

 4)The rupee fell by around 14 paise against the dollar on Tuesday, in a range-bound market. It opened at 48.05 and touched an intraday high of 47.98. It weakened to close at its day’s low of 48.11, against the previous close of 47.97.

BL

5)Mid-size state-run banks should “seriously” look at consolidation and mergers in the next 5-10 years, the Union Finance Secretary, Mr Ashok Chawla, has said. This was necessary to come out with a banking structure that was not only efficient and optimally regulated as in the past, but with bank balance-sheets and asset sizes that correspond to the needs of the growing economy, Mr Chawla said after launching Vijaya Bank’s mobile banking service in the Capital on Tuesday.

BL

6)IDBI has reduced interest rate on home loan and auto loans. The bank will charge 8.75% for Rs 30 lakh home loan against 9% charged earlier, 9%(9.5%) for Rs 50 lakh and 9.25%(9.50%) for above Rs 50 lakh loan. The above rates are on floating rates basis linked to bank’s prime lending rate which is 12.75%.

ET

MARKETS

 7)Gains in technology stocks and buying by funds in index heavyweight Reliance Industries helped shares end higher on Tuesday. Sensex climbed 159.91 points, or about 1 per cent to settle at 16,852.91. It traded between 16,802.80 and 16,907.84 during the session. “Foreign institutional investors are consistently buying. Fund flow is so aggressive that it’s hard to play against the momentum,” Mr Suhas Samant, a fund manager at brokerage Sharekhan, said. On the NSE, the 50-stock S&P CNX Nifty rose 47.90 points, or about 1 per cent, to 5,006.85.

BL

8)Sebi chairman CB Bhave on Tuesday said the markets regulator will focus on listed companies which are not ready to provide information to independent research units. Sebi will also go beyond the statutory disclosure norms and look at independent research agencies for more details. Speaking at the launch of independent equity research(IER) by Crisil, Bhave said disclosing such information will ensure transparency and help investors to understand their investment decisions better.

FE

IPO

 9)Draft public offer documents for any issue size of Rs 50 crore or less are to be filed with the regional SEBI offices assigned to States and Union Territories, the markets regulator said in a circular on Tuesday.

BL

10)THE cash-starved realty sector is sprinting to the market regulator Sebi to raise around Rs 14,000 crore or $3 billion in initial public offers(IPOs). At least seven realty companies, including Lodha Developers, Sahara Prime city, Emaar MGF and BPTP, have either filed the draft red herring prospectus (DRHP) with Sebi since Friday or plan to do it on Wednesday.

ET

11)PIZZA chain Domino’s Pizza India, 67% of which is owned by the Delhi-based Jubilant Group could go for its maiden public issue to pave an exit route for its private equity(PE) partner JP Morgan who wants to sell its 33% stake, three people familiar with the matter said asking not be named. While the details of the proposed initial public offer (IPO) is not known, a listing would make Domino’s Pizza India the first eatery chain in the country to be traded publicly.

ET

MUTUAL FUNDS

12)Religare Mutual Fund has launched a PSU fund which will invest in state-owned firms, especially those that are likely to benefit from the divestment process and reforms. The ‘Religare PSU Equity Fund’ opened on Tuesday and will close on October 28. The fund will invest 65 per cent of its assets in companies in the BSE PSU index and the remaining 35 per cent in other PSUs.

BL

COMMODITITES

13)Gold firmed on Tuesday as the market attempted to consolidate recent bouts of speculative selling, but gains were limited as the dollar maintained its edge over the euro, leaving the metal exposed to further falls. Spot gold stood at $991.50 a troy ounce by 1007 GMT, compared with $989.95 quoted late in New York on Monday.

BL

14)Gold prices declined further on the bullion market on Tuesday on lack of local buying interest at higher levels. Silver also moved down in the absence of demand from industrial users. Standard gold (99.5 purity) declined by Rs 30 for ten gm to close at Rs 15,525 from the previous closing level of Rs 15,555. Pure gold (99.9 purity) also fell by Rs 35 for ten gm to Rs 15,600 against Rs 15,635. Silver ready(.999 fineness) too looked down by Rs 35 a kg to end at Rs 26,205 from its previous close of Rs 26,240.

BL

REAL ESTATE

15)FOR nearly three decades, politicians from Norway to New Delhi were flying to Colombo to facilitate peace in Sri Lanka. Now corporate executives from Larsen & Toubro’s AM Naik to Omaxe’s Rohtas Goel may join author-investorJim Rogers in flying to the once wartorn Indian Ocean island to share a pie of the future prosperity. L&T, Omaxe, Puravankara Projects are among those lining up to build projects anticipating an economic surge in Sri Lanka expected to happen after a bloody war. They are planning to build shopping complexes, residential homes and much more.

ET

16)Realty firm Omaxe on Tuesday said it would develop four new housing projects at an investment of Rs 1,500 crore over the next three years. It is mulling increasing prices of existing projects within three months.

FE

COMMUNICATIONS

 17)THE Bharti-MTN talks entered the last round as the final decision from the South African government is expected today, the last day of the exclusivity period between the two companies. A source close to finance ministry said that the Indian government is waiting for its South African counterpart to revert with a new deal structure that will comply with Indian laws.

ET

BUSINESS PROCESS OUTSOURCING

 18)The global information technology and business process outsourcing market will end 2009 with total revenues of $373 billion, 14.4 per cent higher than the $326 billion recorded in 2008. India and China will remain at the top of the list, with expected revenues amounting to $48 billion and $28 billion, respectively. India would have 44.8 per cent of the total outsourcing pie and China 25.9 per cent, ac- cording to Canadian-based ICT research and advisory firm XMG Global.

BL

INFORMATION TECHNOLOGY

19)Tata Consultancy Services(TCS) will provide end-to-end system integration services to Carnation Auto, a Jagdish Khattar initiative. The multi-year agreement envisages TCS as the full service provider responsible for enterprise IT solution implementation and includes business consulting, technology implementation & support.

BS

20)Larsen & Toubro (L&T) Infotech on Tuesday said it has bagged a multi-year, multi-million dollar contract from a large German semi- conductor manufacturer, Infineon Technogies AG(IFX). L&T Infotech is the unlisted technology arm of Rs 40,480-crore engineering and construction conglomerate, L&T.

FE

21)MINDTREE, the IT and product engineering services firm has acquired the Indian subsidiary of Kyocera, with an upfront payment of $6 million. This acquisition will give MindTree around 600 people in Bangalore and will strengthen its engineering services business.

ET

INTERNATIONAL

 22)The UK economy shrank less than previously estimated in the second quarter and mortgage approvals stayed near the highest in more than a year last month, a sign Britain is emerging from recession. Gross domestic product fell 0.6% from the first quarter, compared with a prior measurement of a 0.7% drop, the Office for National Statistics said on Tuesday in London.

FE

23)BNP Paribas SA, France’s largest bank, said it will raise 4.3 billion euros($6.3 billion) in a rights offer to help repay government funds. BNP Paribas is offering existing investors 107.6 million shares at 40 euros each, or 29% below Monday’s closing price, the Paris-based bank said on Tuesday.

FE

FOR MORE INFORMATION, PLEASE BROWSE THROUGH THE FOLLOWING SITES.

 Karvy Consultants Ltd www.karvy.com
 www.khojhyderabad.com
 www.indiacorporateadvisor.com
 www.karvycomtrade.com (Commodities)
KARVY Global Services Ltd www.KARVYGlobal.com
KARVY Realty (India) Limited www.karvyrealty.com
Economic Times www.economictimes.com
The Financial Express www.financialexpress.com
Business Line www.businessline.in
Business Standard www.business-standard.com
The Times of India www.timesofindia.com
The Hindu www.hindu.com
Deccan Chronicle www.deccan.com
The New Indian Express www.newindpress.com

FOR THE DAY (30 Sep 2009)

FOR THE DAY:

The indices are expected to open on a flat note tracking flat Global indices.

Trade long if Nifty holds 5000 levels, else from 4970 with stop loss placed at 4950 levels targeting 5030 and 5050.

Pivot Point (30-09-2009)

30/09/2009 Pivot Point NSE
Symbol   LTP S3 S2 S1 Pivot Point R1 R2 R3
ONGC 1,189.65 1099.15 1139.75 1164.70 1180.35 1205.30 1220.95 1261.55
SBIN 2,092.00 1950.67 2032.67 2062.33 2114.67 2144.33 2196.67 2278.67
STER 750.25 699.33 726.18 738.22 753.03 765.07 779.88 806.73
RCOM 299.80 283.87 292.47 296.13 301.07 304.73 309.67 318.27
INFOSYSTCH 2,295.35 2235.92 2262.72 2279.03 2289.52 2305.83 2316.32 2343.12
BHARTIARTL 419.10 398.32 409.77 414.43 421.22 425.88 432.67 444.12
NTPC 212.50 203.52 208.17 210.33 212.82 214.98 217.47 222.12
BHEL 2,274.90 2178.53 2222.43 2248.67 2266.33 2292.57 2310.23 2354.13
JINDALSTEL 583.95 534.40 562.95 573.45 591.50 602.00 620.05 648.60
SAIL 168.80 155.60 163.00 165.90 170.40 173.30 177.80 185.20
LT 1,649.55 1597.52 1624.92 1637.23 1652.32 1664.63 1679.72 1707.12
DLF 426.85 409.65 419.35 423.10 429.05 432.80 438.75 448.45
TATASTEEL 504.05 489.58 497.48 500.77 505.38 508.67 513.28 521.18
RELINFRA 1,214.40 1171.80 1192.80 1203.60 1213.80 1224.60 1234.80 1255.80
RELCAPITAL 907.25 868.82 890.22 898.73 911.62 920.13 933.02 954.42
RELIANCE 2,171.05 2081.02 2122.62 2146.83 2164.22 2188.43 2205.82 2247.42
ICICIBANK 866.35 782.62 826.32 846.33 870.02 890.03 913.72 957.42
UNITECH 107.25 94.75 101.35 104.30 107.95 110.90 114.55 121.15
HDFCBANK 1,611.35 1548.35 1582.05 1596.70 1615.75 1630.40 1649.45 1683.15
HDFC 2,777.10 2628.20 2699.70 2738.40 2771.20 2809.90 2842.70 2914.20
TATAMOTORS 592.20 561.23 578.73 585.47 596.23 602.97 613.73 631.23
AXISBANK 926.30 896.60 910.30 918.30 924.00 932.00 937.70 951.40
ITC 234.25 224.50 229.75 232.00 235.00 237.25 240.25 245.50
TCS 610.40 558.38 581.83 596.12 605.28 619.57 628.73 652.18
RPOWER 167.25 158.72 163.62 165.43 168.52 170.33 173.42 178.32
CAIRN 261.00 248.00 255.00 258.00 262.00 265.00 269.00 276.00
M&M 852.05 813.18 834.88 843.47 856.58 865.17 878.28 899.98
TATAPOWER 1,312.25 1226.08 1264.08 1288.17 1302.08 1326.17 1340.08 1378.08
HINDUNILVR 263.25 242.72 252.22 257.73 261.72 267.23 271.22 280.72
POWERGRID 110.95 105.98 108.78 109.87 111.58 112.67 114.38 117.18
MARUTI 1,638.40 1548.47 1595.47 1616.93 1642.47 1663.93 1689.47 1736.47
IDEA 76.15 73.22 74.82 75.48 76.42 77.08 78.02 79.62
WIPRO 582.05 541.65 560.95 571.50 580.25 590.80 599.55 618.85
SUNPHARMA 1,394.65 1131.55 1255.55 1325.10 1379.55 1449.10 1503.55 1627.55
GRASIM 2,793.55 2673.85 2740.65 2767.10 2807.45 2833.90 2874.25 2941.05
TATACOMM^ 477.90 462.57 471.17 474.53 479.77 483.13 488.37 496.97
GAIL 362.00 322.90 340.80 351.40 358.70 369.30 376.60 394.50
SIEMENS 553.90 527.63 542.03 547.97 556.43 562.37 570.83 585.23
RANBAXY 399.65 361.88 383.48 391.57 405.08 413.17 426.68 448.28
ACC 814.95 785.55 801.85 808.40 818.15 824.70 834.45 850.75
CIPLA 279.60 249.37 262.87 271.23 276.37 284.73 289.87 303.37
HEROHONDA 1,655.80 1607.28 1632.13 1643.97 1656.98 1668.82 1681.83 1706.68
HINDALCO 126.90 118.98 123.53 125.22 128.08 129.77 132.63 137.18
PNB 784.15 739.72 762.72 773.43 785.72 796.43 808.72 831.72
SUZLON 92.55 88.88 90.78 91.67 92.68 93.57 94.58 96.48
AMBUJACEM 99.20 94.88 97.03 98.12 99.18 100.27 101.33 103.48
NATIONALUM^ 347.60 328.87 338.67 343.13 348.47 352.93 358.27 368.07
ABB 777.15 735.97 758.62 767.88 781.27 790.53 803.92 826.57
HCLTECH 335.10 316.23 327.13 331.12 338.03 342.02 348.93 359.83
BPCL 567.95 527.55 550.85 559.40 574.15 582.70 597.45 620.75
IDFC* 142.90 135.67 139.77 141.33 143.87 145.43 147.97 152.07
JPASSOCIAT* 234.30 217.05 226.90 230.60 236.75 240.45 246.60 256.45
                 
* NEW ENTRY FROM 20 OCT 2009            
^ TO BE REPLACED FROM 20 OCT 2009          

Support & Resistances for 30-09-2009

Support & Resistances for 30-09-2009
 
    SENSEX NIFTY FUTURE (Oct 2009)
    BANKNIFTY NIFTY
29/09/2009 Open  16829.11 4959.15 8511.00 4997.00
High 16907.84 5020.25 8559.00 5019.70
Low 16802.80 4959.10 8466.00 4983.55
Close 16852.91 5006.85 8489.15 4995.80
LTP 19852.91 5006.85 8485.00 5000.80
Range 105.04 61.15 93.00 36.15
30/09/2009 R3 17064.60 5117.70 8690.72 5071.98
R2 16959.56 5056.55 8597.72 5035.83
R1 16906.23 5031.70 8543.43 5015.82
PP 16854.52 4995.40 8504.72 4999.68
S1 16801.19 4970.55 8450.43 4979.67
S2 16749.48 4934.25 8411.72 4963.53
S3 16644.44 4873.10 8318.72 4927.38
 
R1/R2/R3: Resistance
PP: Pivot Point
S1/S2/S3: Supports

Headlines (29 Sep 2009)

Date: 29 September 2009

GENERAL

1)The world’s major players in nuclear energy have arrived in New Delhi for the first major international conference on Tuesday. The meet will discuss the peaceful use of atomic energy after a gap of over three decades. Prime Minister Manmohan Singh will inaugurate the three-day conference and a major highlight will be the address by International Atomic Energy Agency(IAEA) Director General Mohamed ElBaradei. The audience will comprise executives from the world’s top nuclear companies and chiefs of state nuclear corporations and regulators besides leading scientsts and academicians.

Hindu

ECONOMY

2)India still remains a very attractive destination for investment, according to K P Balraj, Managing Director of Sequoia Capital India, a private equity firm managing funds capitalised at close to $1.8 billion. In an e-mail response to a range of questions, he said, “there has not been much of an effect of the economic slow- down on the venture capital market”. Asserting that there were lot of activities now, he said, “our experience in both in India and globally has been that the best of companies get created in markets like these”. He was happy that India was finally seeing “a seed and angel ecosystem develop”. This trend, he felt, was very good for private equity players and venture capital firms in the long-run.

Hindu

CORPORATE / INDUSTRY

3)In a boost to the flagging domestic uranium mining effort, ONGC has zeroed in on a location in Assam and has submitted a proposal to Uranium Corporation of India Ltd(UCIL) for jointly exploring the resource. ONGC has an agreement in place with UCIL to pur- sue exploration and exploitation of uranium resources.

BL4)Sakata Inx (India) Ltd, the subsidiary of Sakata Japan, a global player in manufacture of printing inks, is “betting heavily” on the growth of offset inks for the publishing industry, according to V K Seth, Managing Director, Sakata Inx (India).

 

BL

MONEY / BANKING

5)The Reserve Bank of India is likely to reverse its soft rate regime as early as April next year and increase its key policy rates by 125 basis points each by 2010-end due to rising food prices, global financial major Citigroup has said.

BL

INSURANCE

6)If you are a safe and good driver, you do not really reap the benefit in the form of lower insurance costs. At least, not yet, But that may soon change. Today, car insurance has a lot more features, than a year ago, thanks to changes allowed to the policy. ICICI Lombard has started a pilot initiative which will soon help safe drivers get some benefit.

BL

MUTUAL FUNDS

7)Gold exchange traded funds (ETFs) have performed better than the spot gold in the last two months due largely to better returns from other investments and the rupee strengthening against the dollar. The gold ETFs listed on stock exchanges have given an average return of seven per cent between July 22 and September 22, while the spot gold has risen by five per cent in the same period.

BL

COMMODITIES

8)Gold was steady on Monday after briefly falling below $990 an ounce, as the euro trimmed some losses versus the dollar, but bullion looked vulnerable to a long liquidation after it failed to stay above $1,000 an ounce. Spot gold was at $991 an ounce by 1121 GMT, slightly up from $990.95 an ounce late in New York on Friday, when gold hit a two-week low of $984.70 an ounce.

BL9)Copper hit its lowest level since mid-August on Monday, as rising inventories and a firmer dollar helped haul many industrial metals to multi-month troughs. By 0857 GMT, copper for three month delivery on the London Metal Exchange fell to $5,890 a tonne from $5,990 at the close on Friday. It earlier touched a low of $5,855.25 – a level not seen since Aug.19.

 

BL

INFORMATION TECHNOLOGY

10)Xerox Corp announced on Monday it was buying Affiliated Computer Services in a cash-and-stock deal valued at $6.4 billion that gives the US photocopier company a foothold in a new market. Xerox said it will pay $63.11 per share for the Dallas-based out- sourcing company, a premium of 33 per cent over ACS’s closing price on Friday.

BL

11)The UK software and IT services company, Advanced Computer Soft- ware PLC, on Monday, said it has acquired Indian software developer Oak Labs India Pvt Ltd for an undisclosed sum. The company said the acquisition will be paid for in cash. It will issue 7,61,095 shares of 10 pence each in ACS, which will be issued at 34 pence a share.

BL12)The U.S.-based leading enterprise software company Oracle is aiming at the fast-growing telecom and services sector, besides government departments, to expand its presence and operation in India.

 

 Hindu

INTERNATIONAL

13)New York crude oil rose, reversing an earlier decline of as much as 0.9 per cent. Crude slumped more than 8 per cent last week, the biggest drop since the week ending July 10, as US stockpiles unexpectedly rose. There is quite a bit of spare capacity in the sys- tem, so there is no screaming need for Iran’s oil, said Mr Edward Meir, an analyst with MF Global Ltd. in Darien, Connecticut. It seems the markets are not that unnerved and seem to be implying that the tensions will not be enough to generate any meaningful rally. Crude oil futures for November delivery increased 44 cents, or 0.7 per cent, to $66.46 a barrel at 9:45 a.m on the New York Mercantile Exchange.

BL14)The world’s largest steel maker Arcelor Mittal will focus more on emerging markets, including India, and expects to return to the pre-crisis level by 2012, the company’s chief, Mr Lakshmi N Mittal, has said. “Growth will be a slow, progressive recovery. May be by 2012, we could come back to the pre-crisis level. Growth will only come from emerging markets. That is where we will focus,” Mr Mittal told the Wall Street Journal in an interview.

 

BL15)Toyota Motor announced on Monday its first year-on-year rise in overseas production in 13 months as Japan’s auto giants slowly get back on track after the worst recession in decades. Toyato’s smaller rival Nissan also saw the first increase in domestic sales since July 2008, while demand for Honda vehicles rose for a second straight month, helped by Government incentives for people to buy new cars.

 

BL16)Belgian drugs, chemicals and plastics maker Solvay said on Mon- day it would sell its drugs unit to US partner Abbott Laboratories for e4.5 billion ($6.6 billion) in cash and reinvest in chemicals and plastics.

 

BL

FOR MORE INFORMATION, PLEASE BROWSE THROUGH THE FOLLOWING SITES.

Karvy Consultants Ltd www.karvy.com
 www.khojhyderabad.com
 www.indiacorporateadvisor.com
 www.karvycomtrade.com (Commodities)
KARVY Global Services Ltd www.KARVYGlobal.com
KARVY Realty (India) Limited www.karvyrealty.com
Economic Times www.economictimes.com
The Financial Express www.financialexpress.com
Business Line www.businessline.in
Business Standard www.business-standard.com
The Times of India www.timesofindia.com
The Hindu www.hindu.com
Deccan Chronicle www.deccan.com
The New Indian Express www.newindpress.com