TODAY’S NEWS HEADLINES (17-03-2011)

Date: 17 March 2011

Thought for the day

“You will never do anything in this world without courage. It is the greatest quality of the mind next to honour. ”
– James Allen

GENERAL

1)IN the backdrop of nuclear mishap in Japan due to tsunami, India’s top atomic scientists on Wednesday briefed Prime Minister Manmohan Singh on safety of nuclear installations in the country.
Indian Express

ECONOMY

2)The government is set to pave the way for introduction of interest rate futures in the corporate bond market. This is to support the initiatives proposed in the budget for boosting corporate fund raising for the infrastructure sector through this route.
BS

CORPORATE / INDUSTRY

3)Mumbai-based Jyothy Laboratories has acquired a 14.9% stake in Henkel India from Tamil Nadu Petro Products (TNPL) for Rs 60.73 crore in an all-cash deal. The deal makes Jyothy the largest Indian shareholder in the struggling Indian arm of Germany’s Henkel AG.
ET

4)IVRCL Infrastructure & Projects Ltd (IVRCL) has announced that it has bagged several orders valued at Rs 564.62 crore, which includes two orders from Power Grid Corporation of India Ltd, worth Rs 359.61 crore. According to a statement filed with the stock exchanges, the orders include residential project in Nagpur and from a pellet plant in Karanatka from NMDC Ltd.
BL

MONEY & BANKING

5)The rupee gained for the second day this week as stock exchange data showed overseas investors increased holdings of the equities
this month for the first time since December. The local currency appreciated 0.3% to 45.1175 per dollar in Wednesday’s trade.
ET

6)With inflation for February coming in at a shocking 8.3% compared with a consensus estimate of 7.8%, the Reserve Bank of India(RBI) has virtually no option but to raise key policy rates, by at least 25 basis points each, at its monetary policy review meeting on Thursday.
FE

7)Non-banking financial companies(NBFCs) are well-positioned to establish a stronger presence in the retail finance space and match the nonmortgage retail lending portfolio of banks by March 2013, according to CRISIL. In March 2010 NBFCs had a share, in retail finance, of close to 38%, up from 26% three years ago. That implies that banks have been losing share in the space.
FE

8)India’s largest mortgage lender, Housing Development Finance Corporation(HDFC), has been included by New York’s Ethisphere Institute in its list of the world’s most ethical companies. HDFC is the only Indian company in the list.
FE

INSURANCE

9)With medical insurance portability becoming a reality from July 1, customers will be rejoicing as they can switch their insurance company. However, insurers are unsure if the transition will be smooth.
BS

MARKETS

10)The benchmark stock index rebounded from its biggest drop in more than two weeks as Asian shares climbed for the first time since Japan’s record earthquake triggered a nuclear accident. Tata Power Co rose 1.3 per cent. SBI advanced the most in a month. Reliance Infra surged 5.2 per cent to its highest level in three weeks. The BSE Sensex gained 191.05, or 1.1 per cent, to 18,358.69 at the 3:30 p.m. close in Mumbai. The S&P CNX Nifty Index on the National Stock Exchange added 1.1 per cent to 5,511.15, while its March futures settled at 5,529.15. The BSE 200 Index rose 1.2 per cent to 2,257.69.
BL

IPO / FPO

11)The government is all set to begin its disinvestment programme for the next fiscal with Power Finance Corporation, which may file its regulatory papers with market regulator Sebi for the 20% follow-on public offer (FPO) later this week.
ET

RIGHTS ISSUE

12)The rights issue of EIH seems to have sailed through with the majority of shareholders subscribing to the issue, as expected. Major shareholders such as Reliance Investments and Holdings Pvt Ltd and Mr Analjit Singh, Chairman of Max India, appeared to have picked up their share of the
rights issue.
BL

MUTUAL FUNDS

13)Goldman Sachs Asset Management on Wednesday said it agreed to buy Benchmark Asset Management Company, making an entry into India’s crowded and fiercely competitive mutual fund (MF) space. The deal value, which was not disclosed officially, could be about Rs 120-130 crore, persons familiar with the matter said. This values Benchmark Asset Management Company at about four per cent of its assets under management of about Rs 2,935 crore as of December 31,2010. The transaction was expected to close later in the year, subject to regulatory approvals, Goldman Sachs said.
BS

COMMODITIES

14)Oil rose as protests in Bahrain added to Middle-East tensions, leading gains in commodities, and stocks rebounded in Japan. European shares and US index futures fluctuated and the euro weakened. Brent crude rallied above $111 a barrel in London, gaining for the first time in five days, and copper increased.
ET

15)Gold gained in London as some investors bought the metal after its drop to the lowest level in almost a month and as violence in Bahrain and the aftermath of Japan’s earthquake spurred demand for a protection of wealth. Immediate-delivery bullion rose $6.13, or 0.4 per cent, to $1,401.82 an ounce at 11:40 a.m. in London.
BL

16)Copper rose to a one-week high in New York on speculation that industrial metals’ demand will increase. Copper for May delivery added to $4,248 a pound at 8:55 a.m. on the COMEX. Copper for three-month delivery climbed to $9,334 a tonne on the LME.
BL

BUSINESS PROCESS OUTSOURCING

17)Even as the market is hotting up with reports of large Indian IT companies showing interest in Nasdaq-listed BPO firm EXL Service for a stake buyout, its 60-year-old founder and chairman Vikram Talwar says he is in no mood to sell, and pure play BPO services are going to be the focus of the business.
ET

INFORMATION TECHNOLOGY

18)Amid concerns over radiation threat in tsunami-hit Japan, HCL Technologies said on Wednesday that its senior officials would travel to Japan “over the next few days”, to extend on-ground support to employees.
BL

INTERNATIONAL

19)Japan’s nuclear crisis appeared to be spinning out of control on Wednesday after workers withdrew briefly from a stricken power plant because of surging radiation levels and a helicopter failed to drop water on the most troubled reactor.
ET

FOR THE DAY (17-03-2011)

FOR THE DAY:
The indices are expected to open on a negative note in response to the weak global cues. Trade short in Nifty below 5480 levels with stop loss placed at 5510 targeting 5450‐5430 levels. Alternatively, trade long if Nifty managed to hold above 5510 with stop loss placed at 5480 targeting 5530‐5550.

Today’s Levels (17-03-2011)

Today’s Levels

(Last Close : Sensex 18359 : Nifty Spot 5511)

Trade short if Sensex fails to sustain above 18359 (Nifty 5511)

[Downside targets/supports at 18263(5476)/18120(5450) or lower]

Trade long if Sensex sustains above 18120 (Nifty 5450)

[Upside targets/resistances at 18263(5476)/18359(5511) or higher]

NSE – INDICES – Pivot Point (17-03-2011)

NSE 16-03-2011 17-03-2011
Symbol Open High Low LTP Range S3 S2 S1 Pivot R1 R2 R3
NIFTY 5475.95 5535.10 5475.95 5511.15 59.15 5389.10 5448.25 5479.70 5507.40 5538.85 5566.55 5625.70
JUNIOR 10641.20 10762.00 10641.20 10739.90 120.80 10472.77 10593.57 10666.73 10714.37 10787.53 10835.17 10955.97
CNXIT 6689.25 6776.90 6689.25 6733.30 87.65 6557.85 6645.50 6689.40 6733.15 6777.05 6820.80 6908.45
BANKNIFTY 10777.10 11001.25 10777.10 10957.60 224.15 10463.68 10687.83 10822.72 10911.98 11046.87 11136.13 11360.28
NFTYMCAP50 2368.10 2393.55 2368.10 2382.05 25.45 2330.33 2355.78 2368.92 2381.23 2394.37 2406.68 2432.13
CNXREALTY 274.25 281.35 274.25 279.55 7.10 264.18 271.28 275.42 278.38 282.52 285.48 292.58
CNXINFRA 2837.25 2880.25 2837.25 2863.75 43.00 2774.42 2817.42 2840.58 2860.42 2883.58 2903.42 2946.42

NIFTY 50 – STOCKS – Pivot Point (17-03-2011)

17-03-2011 Pivot Point (NIFTY-50) NSE
Symbol   LTP S3 S2 S1 Pivot Point R1 R2 R3
SIEMENS 871.45 849.07 859.62 865.53 870.17 876.08 880.72 891.27
PNB 1096.75 1057.38 1075.18 1085.97 1092.98 1103.77 1110.78 1128.58
ACC 1022.10 966.53 994.03 1008.07 1021.53 1035.57 1049.03 1076.53
MARUTI 1219.25 1191.15 1205.95 1212.60 1220.75 1227.40 1235.55 1250.35
HCLTECH 464.20 443.73 452.73 458.47 461.73 467.47 470.73 479.73
DRREDDY 1570.60 1501.20 1535.40 1553.00 1569.60 1587.20 1603.80 1638.00
BAJAJ-AUTO 1372.35 1333.10 1354.15 1363.25 1375.20 1384.30 1396.25 1417.30
GAIL 456.75 441.70 449.65 453.20 457.60 461.15 465.55 473.50
TATAPOWER 1226.85 1193.78 1210.88 1218.87 1227.98 1235.97 1245.08 1262.18
KOTAKBANK 423.80 405.93 413.93 418.87 421.93 426.87 429.93 437.93
HINDUNILVR 271.35 257.53 264.88 268.12 272.23 275.47 279.58 286.93
HDFCBANK 2183.75 2136.32 2162.72 2173.23 2189.12 2199.63 2215.52 2241.92
NTPC 177.55 170.37 173.72 175.63 177.07 178.98 180.42 183.77
CIPLA 296.00 281.95 290.10 293.05 298.25 301.20 306.40 314.55
RANBAXY 469.85 448.12 458.02 463.93 467.92 473.83 477.82 487.72
INFOSYSTCH 3030.90 2954.67 2996.07 3013.48 3037.47 3054.88 3078.87 3120.27
BHEL 1923.45 1878.77 1903.22 1913.33 1927.67 1937.78 1952.12 1976.57
BPCL 576.55 546.55 563.25 569.90 579.95 586.60 596.65 613.35
LT 1542.75 1489.72 1515.92 1529.33 1542.12 1555.53 1568.32 1594.52
AXISBANK 1318.60 1241.20 1276.20 1297.40 1311.20 1332.40 1346.20 1381.20
JINDALSTEL 664.65 646.80 656.65 660.65 666.50 670.50 676.35 686.20
SUNPHARMA 440.10 404.32 420.17 430.13 436.02 445.98 451.87 467.72
M&M 660.00 625.57 641.07 650.53 656.57 666.03 672.07 687.57
TCS 1114.85 1045.22 1077.52 1096.18 1109.82 1128.48 1142.12 1174.42
AMBUJACEM 130.00 115.73 122.13 126.07 128.53 132.47 134.93 141.33
SAIL 157.10 152.97 154.97 156.03 156.97 158.03 158.97 160.97
CAIRN 341.40 332.38 336.93 339.17 341.48 343.72 346.03 350.58
BHARTIARTL 320.45 304.77 312.02 316.23 319.27 323.48 326.52 333.77
HDFC 659.85 634.35 649.15 654.50 663.95 669.30 678.75 693.55
HEROHONDA 1516.40 1482.47 1499.47 1507.93 1516.47 1524.93 1533.47 1550.47
SBIN 2643.95 2461.57 2543.92 2593.93 2626.27 2676.28 2708.62 2790.97
TATAMOTORS 1166.50 1107.60 1135.10 1150.80 1162.60 1178.30 1190.10 1217.60
SESAGOA 263.40 257.47 260.57 261.98 263.67 265.08 266.77 269.87
RELINFRA 645.65 567.67 604.22 624.93 640.77 661.48 677.32 713.87
POWERGRID 98.60 96.53 97.53 98.07 98.53 99.07 99.53 100.53
WIPRO 445.40 429.83 437.53 441.47 445.23 449.17 452.93 460.63
RPOWER 125.20 118.38 121.73 123.47 125.08 126.82 128.43 131.78
RELIANCE 1047.10 1012.93 1029.83 1038.47 1046.73 1055.37 1063.63 1080.53
ICICIBANK 1027.45 957.32 989.22 1008.33 1021.12 1040.23 1053.02 1084.92
DLF 226.45 216.20 221.15 223.80 226.10 228.75 231.05 236.00
ONGC 271.80 260.43 266.73 269.27 273.03 275.57 279.33 285.63
ITC 171.20 168.00 169.70 170.45 171.40 172.15 173.10 174.80
STER 159.60 154.40 157.20 158.40 160.00 161.20 162.80 165.60
TATASTEEL 599.55 579.18 590.18 594.87 601.18 605.87 612.18 623.18
HINDALCO 203.15 195.22 199.72 201.43 204.22 205.93 208.72 213.22
RELCAPITAL 575.50 545.97 561.57 568.53 577.17 584.13 592.77 608.37
JPASSOCIAT 82.10 79.37 80.77 81.43 82.17 82.83 83.57 84.97
RCOM 103.00 96.57 99.87 101.43 103.17 104.73 106.47 109.77
SUZLON 46.25 43.70 45.15 45.70 46.60 47.15 48.05 49.50
IDFC 146.30 142.43 144.43 145.37 146.43 147.37 148.43 150.43

SENSEX 30 – STOCKS – Pivot Point (17-03-2011)

17-03-2011 Pivot Point (SENSEX-30) BSE
Symbol   LTP S3 S2 S1 Pivot Point R1 R2 R3
BAJAJAUT 1371.05 1341.03 1358.43 1365.27 1375.83 1382.67 1393.23 1410.63
TATAPOWER 1226.05 1198.53 1213.48 1219.77 1228.43 1234.72 1243.38 1258.33
HEROHONDA 1517.45 1476.82 1497.82 1507.63 1518.82 1528.63 1539.82 1560.82
MARUTI 1228.00 1196.43 1209.33 1216.47 1222.23 1229.37 1235.13 1248.03
WIPRO 445.40 431.77 438.47 441.93 445.17 448.63 451.87 458.57
BHEL 1926.90 1885.68 1908.23 1917.57 1930.78 1940.12 1953.33 1975.88
INFOSYS 3035.50 2964.50 3002.50 3019.00 3040.50 3057.00 3078.50 3116.50
JINDALSTEEL 664.10 647.18 656.63 660.37 666.08 669.82 675.53 684.98
HDFCBANK 2184.85 2133.03 2161.78 2173.32 2190.53 2202.07 2219.28 2248.03
HDFC 661.70 637.70 651.50 656.60 665.30 670.40 679.10 692.90
MNM 659.40 635.47 646.47 652.93 657.47 663.93 668.47 679.47
HUL 271.35 259.12 265.62 268.48 272.12 274.98 278.62 285.12
NTPC 177.05 171.27 174.12 175.58 176.97 178.43 179.82 182.67
CIPLA 296.05 281.82 290.02 293.03 298.22 301.23 306.42 314.62
TCS 1115.50 1043.92 1076.67 1096.08 1109.42 1128.83 1142.17 1174.92
BHARTIARTL 320.45 301.02 309.92 315.18 318.82 324.08 327.72 336.62
TATAMOTORS 1162.70 1114.77 1137.37 1150.03 1159.97 1172.63 1182.57 1205.17
ICICIBANK 1026.60 960.12 990.17 1008.38 1020.22 1038.43 1050.27 1080.32
LNT 1541.80 1492.27 1517.27 1529.53 1542.27 1554.53 1567.27 1592.27
SBI 2642.85 2468.28 2546.28 2594.57 2624.28 2672.57 2702.28 2780.28
ITC 171.20 167.73 169.53 170.37 171.33 172.17 173.13 174.93
ONGC 272.05 261.80 267.45 269.75 273.10 275.40 278.75 284.40
DLF 226.50 215.53 220.73 223.62 225.93 228.82 231.13 236.33
STERLITEIND 159.45 154.52 157.22 158.33 159.92 161.03 162.62 165.32
HINDALCO 203.10 195.15 199.70 201.40 204.25 205.95 208.80 213.35
RELINFRA 645.30 568.18 604.43 624.87 640.68 661.12 676.93 713.18
RIL 1044.60 1013.05 1029.40 1037.00 1045.75 1053.35 1062.10 1078.45
TATASTL 599.45 579.75 590.35 594.90 600.95 605.50 611.55 622.15
JAIPRA 82.05 79.70 80.95 81.50 82.20 82.75 83.45 84.70
RCOM 102.95 96.55 99.85 101.40 103.15 104.70 106.45 109.75

BSE – INDICES – Pivot Point (17-03-2011)

BSE 16-03-2011 17-03-2011
Open High Low Close RANGE S3 S2 S1 Pivot R1 R2 R3
Broad
SENSEX 18263.68 18444.47 18263.68 18358.69 180.79 17994.03 18174.82 18266.76 18355.61 18447.55 18447.55 18717.19
MIDCAP 6467.86 6573.18 6467.86 6556.45 105.32 6321.86 6427.18 6491.81 6532.50 6597.13 6597.13 6743.14
SMLCAP 7791.33 7926.43 7791.33 7889.62 135.10 7598.93 7734.03 7811.82 7869.13 7946.92 7946.92 8139.33
BSE-100 9487.89 9595.41 9487.89 9556.90 107.52 9331.69 9439.21 9498.06 9546.73 9605.58 9605.58 9761.77
BSE-200 2239.97 2266.26 2239.97 2257.69 26.29 2202.06 2228.35 2243.02 2254.64 2269.31 2269.31 2307.22
BSE-500 7005.98 7090.77 7005.98 7065.11 84.79 6884.37 6969.16 7017.14 7053.95 7101.93 7101.93 7223.53
Thematic
SHARIAH 50 1110.82 1120.42 1110.82 1116.21 9.60 1096.62 1106.22 1111.21 1115.82 1120.81 1120.81 1135.02
Investment Strategy
BSE IPO 1683.20 1713.28 1683.20 1703.84 30.08 1639.95 1670.03 1686.93 1700.11 1717.01 1717.01 1760.27
DOLLEX-30 3309.85 3354.28 3309.85 3340.16 44.43 3245.90 3290.33 3315.25 3334.76 3359.68 3359.68 3423.62
DOLLEX-100 2166.59 2198.79 2166.59 2190.93 32.20 2121.04 2153.24 2172.08 2185.44 2204.28 2204.28 2249.84
DOLLEX-200 823.20 835.77 823.20 832.98 12.57 805.51 818.08 825.53 830.65 838.10 838.10 855.79
Sectoral
REALTY 2062.27 2114.38 2062.27 2104.51 52.11 1989.50 2041.61 2073.06 2093.72 2125.17 2125.17 2197.94
BANKEX 12230.10 12479.42 12230.10 12438.34 249.32 11883.98 12133.30 12285.82 12382.62 12535.14 12535.14 12881.26
CD 5747.68 5902.91 5747.68 5857.11 155.23 5525.44 5680.67 5768.89 5835.90 5924.12 5924.12 6146.36
PSU 8481.13 8604.47 8481.13 8574.09 123.34 8306.55 8429.89 8501.99 8553.23 8625.33 8625.33 8799.91
HC 5785.14 5884.70 5785.14 5861.13 99.56 5644.54 5744.10 5802.61 5843.66 5902.17 5902.17 6042.78
AUTO 8700.74 8803.36 8700.74 8771.05 102.62 8553.14 8655.76 8713.41 8758.38 8816.03 8816.03 8963.62
POWER 2547.68 2579.57 2547.68 2567.42 31.89 2501.11 2533.00 2550.21 2564.89 2582.10 2582.10 2628.67
TECk 3579.50 3631.10 3579.50 3612.87 51.60 3504.62 3556.22 3584.55 3607.82 3636.15 3636.15 3711.02
IT 6129.11 6206.55 6129.11 6175.05 77.44 6015.36 6092.80 6133.92 6170.24 6211.36 6211.36 6325.12
CG 12446.82 12576.71 12446.82 12501.60 129.89 12248.60 12378.49 12440.04 12508.38 12569.93 12569.93 12768.16
METAL 15427.70 15604.71 15427.70 15475.54 177.01 15148.63 15325.64 15400.59 15502.65 15577.60 15577.60 15856.67
OIL&GAS 10038.64 10122.54 9989.45 10036.32 133.09 9783.26 9916.35 9976.33 10049.44 10109.42 10109.42 10315.62
FMCG 3465.58 3494.58 3460.26 3467.94 34.32 3405.62 3439.94 3453.94 3474.26 3488.26 3488.26 3542.90

TODAY’S NEWS HEADLINES (16-03-2011)

Date: 16 March 2011

Thought for the day

“To realize a dream, you must have a dream to realize.”

—Mark Victor Hansen

GENERAL

1)The Union Cabinet on Tuesday gave its nod for amending the Constitution to introduce a uniform goods and services tax regime across the country by unifying all Central and state levies.
TOI

ECONOMY

2)The fourth-quarter advance tax payments for the 2010-11 fiscal recorded the highest growth rate since the 2008 global economic downturn triggered by the collapse of Lehman Brothers. By evening of March 15, the last date for advance tax payments, the I-T department has collected more than two-third of the total advance tax payments for the fourth quarter.
ET

CORPORATE / INDUSTRY

3)Maruti Suzuki India Limited (MSIL) today rolled out its 10 millionth car from its facility in Gurgaon to become the first Indian automobile manufacturer to attain the milestone. With this, MSIL joins the ranks of global auto majors such as Toyota Motor Corporation, General Motors, Ford, Volkswagen, Renault and parent Suzuki Motor Corporation who have attained the feat.
BS

4)Siemens Healthcare Diagnostics on Tuesday said it has merged with Siemens (SL). “With effect from March 14 2011, company stands amalgamated with SL and the legal entity of the company stands dissolved without winding up.” Siemens Healthcare Diagnostics said in a filing to the BSE.
ET

MONEY & BANKING

5)Rupee slid for the third time in four days as Japan’s earthquake and nuclear accident prompted investors to favor the relative safety of the dollar over regional assets. The currency dropped 0.3% to 45.245 per dollar at close in Mumbai.
FE

6)Infrastructure Development Finance Company (IDFC) has extended the closing date of its long-term infrastructure bonds by five days to March 21.
BL

7)The government and the Reserve Bank of India(RBI) are set to allow financial conglomerates and large industrial houses to enter the banking industry. About half a dozen fresh banking licences are expected to be given at one go to ensure that new entrants have a level playing field, government sources said.
FE

INSURANCE

8)Life insurance policies as a means to save on tax, especially a favourite in the last quarter of the financial year, seem to be losing favour with the salaried class. And banks are ‘gaining’ vis-a-vis insurance companies in luring investors. BL

9)Insurance companies looking to list or offload stakes are likely to benefit from the Reliance Life deal. According to analysts, Monday’s Reliance Life-Nippon deal has raised the benchmark of valuation for insurers. ET

MARKETS

10)Shares slumped to a two-week intraday low on Tuesday, as news of Japan’s deepening nuclear crisis spurred selling across Asia and Europe, but gains in Reliance Industries helped the local market recover some losses. The Sensitive Index fell 271.84 points, or 1.5 per cent, to close at 18,167.64 after moving between 17,920.55 and 18,326.33. On the National Stock Exchange, the 50-stock S&P CNX Nifty fell 81.85 points, or 1.5 per cent, to end at 5,449.65.
BL

11)The market is betting high on cigarette companies after the finance minister proposed to leave the excise duty on tobacco unchanged, sparing the industry from a higher outgo. After the Budget, shares of industry leaders such as ITC, Godfrey Phillips and VST Industries have, in fact, outperformed the broader market, which has been on a roller coaster ride. ET

IPO / FPO

12)PTC India Financial Services’ initial public offering, which is to raise up to Rs 439 crore, will open on Wednesday. A fully-owned subsidiary of power trading firm PTC India, the company has fixed a price band of Rs 26-28 a share for the sale of 15.67 crore shares.
ET

13)Steel Authority of India on Tuesday said it will file the red herring prospectus in May for its forthcoming follow-on public offer, which is expected to hit the market in the first quarter of the next fiscal.
FE

14)Sistema Shyam TeleServices Ltd(SSTL), on Tuesday, said it will appoint investment bankers in the next few months for the company’s proposed initial public offering.
BL

15)Kerala-based Muthoot Finance plans to raise Rs 1,400 crore through an initial public offering. Depending on the market conditions the issue is expected to be launched by end of this month.
BL

COMMODITIES

16)Gold declined to the lowest level in more than three weeks in New York as some investors sold the metal to raise cash as other commodities and equities dropped. Silver, platinum and Palladium all slid. Gold futures for April delivery slipped as much as $44.20, or 3.1 per cent, to $1,380.70 an ounce, the lowest price since Feb.17, and were at $1,387.70 at 8:46 a.m. on the COMEX in New York.
BL

17)Oil prices dropped sharply today with Brent crude falling below $108 a barrel for the first time in nearly three weeks as a deepening nuclear crisis in Japan heightened risk aversion across financial markets.
BS

18)The recent increase in broker-level open interest (OI) limits by the regulator will help attract more actual users to commodity futures exchanges. Open interest, or outstanding buy or sell positions, has been increased from three times to five times the client limits in select farm and non-farm commodities.
ET

INFORMATION TECHNOLOGY

19)Four days into Japan’s biggest crisis since World War II, India’s top tech firms have started bringing back employees and moving work to their centres outside Japan. ET

20)Technology giant IBM said on Tuesday it has emerged as the top player in the Indian external disk storage systems for the year 2010. According to IT research firm IDC, IBM India has aintained its 2010 leadership with a 26.2% market share (in revenue terms) and an over four per cent point lead over its nearest competitor.
ET

21)The country’s largest software firm Tata Consultancy Services on Tuesday said it has bagged a multi-million dollar IT infrastructure deal from Dutch technical consultancy firm Royal Haskoning.
ET

22)IT firm Mahindra Satyam on Tuesday said it has bagged a multi-million dollar, multi-year contract from Aspire Zone, Qatar, one of the leading sports institutes in the world. FE

INTERNATIONAL

23)Japan faced a potential catastrophe on Tuesday after a quake crippled nuclear power plant exploded and sent low levels of radiation floating towards Tokyo, prompting some people to flee the capital and others to stock up on essential supplies.
ET

Today’s Levels (16-03-2011)

Today’s Levels
(Last Close : Sensex 18168 : Nifty Spot 5450)
Trade long if Sensex sustains above 18168 (Nifty 5450)
[Upside targets/resistances at 18285(5485)/18367(5505) or higher]
Trade short if Sensex fails to sustain above 18285 (Nifty 5485)
[Downside targets/supports at 18168(5450)/18121(5434) or lower]

FOR THE DAY (16-03-2011)

FOR THE DAY: The indices are expected to open on a flat note in response to the mixed global cues. Trade short if Nifty fails to cross 5500 with stop loss placed at 5520 targeting 5480-5450 levels. Alternatively, trade long in Nifty above 5520 levels with stop loss placed at 5500 targeting 5550-5580 levels.