GLOBAL MARKET :

ASIA : Asian markets were trading strong. China's Shanghai Composite gained 0.72% or 23.28 points at
3,258.64. Hong Kong's Hang Seng added 1.14% or 252.15 points at 22,365.30. Japan's Nikkei
was down 0.17% or 16.18 points at 9,556.02. Singapore's Straits Times was up 0.66% or 18.73
points at 2,789.68. South Korea's Seoul Composite rose 1.33% or 20.88 points at 1,590.6.
Taiwan's Taiwan Weighted advanced 0.81% or 62.03 points at 7,711.26.

US MARKET : The US markets kicked off December with a rally as Dubai fears subsided and the dollar retreated,
pushing gold to a new record. In key economic news , the ISM reported its gauge of
manufacturing activity slipped to 53.6 in November from 55.7 in October, missing expectations
but still in growth mode. The Dow gained 126.74 points, or 1.2%, to 10,471.58, its highest close
since October 2008. The S&P 500 index added 13.23 points, or 1.2%, to 1,108.86, while the
Nasdaq Composite Index rose 31.21 points, or 1.5%, to 2,175.81.

Board Meeting: Ahmednagar Forging, Amtek Auto, Amtek India, Orient Press and Zandu Pharma
Economy/Industry
• Baltic Dry Index is trading 1.31% down from previous days close.
• SGX Nifty Future is trading 17.5 pts up at 5148.50.
• Crude is trading at $ 78.34/bbl down 3 cents from previous close.
• Q2 GDP at 7.9% Vs 6.1% (QoQ); 7.7% (YoY); H1 GDP growth at 7% VS 7.8% (YoY); farm sector growth at 0.9% Vs
2.7% (YoY); manufacturing sector growth at 9.2% Vs 5.1% (YoY); mining sector growth at 9.5% Vs 3.7% (YoY)
• Sept IIP stood at 9.1% vs 10.4% MoM, 6% YoY;Apr-Sep industrial growth at 6.5% vs 5%; Manufacturing sector up 9.3%,
Mining at 8.6%; Electricity at 7.9%; Basic Goods at 6.7%.
Company
• ACC November cement sales at 1.66 mt Vs 1.73 mt (YoY)
• JP Associates' November cement despatches up 49% (YoY) at 1.02 mt Vs 0.69 mt
• Bharati Shipyard has once again revised its open offer for Great Offshore to Rs 590 per share from the Rs 560 earlier
• Mahindra & Mahindra November total sales (Ex-Tractors) stood at 22,587 units. Tractor sales stood at 12,592 units Vs
18,772 units (MoM). Tractor exports for November stood at 988 units Vs 538 units (YoY). Utility Vehicle sales stood at
15,193 units Vs 7523 units (YoY).
• Biocon buys API business from Gulf Oil; divesting to focus on core business; has formulations business and 5 production
blocks with 180 km reactor capacity
• Godrej Invst hikes stake in Geometric Software; PAC Godrej, Boyce hikes stake in software co
• Hero Honda Nov sales at 3.8 lakh units Vs 2.89 lakh (YoY), 3.54 lakh (MoM)
• Aksh Optifibre board approves fund raising up to $ 8 Mn
• Templeton, which owns a 10% stake in Taro, has withdrawn from Taro's appeal against Sun Pharma

MARKET OUTLOOK :

Bulls dominated the proceedings for second successive day as Nifty regained 5100 and Sensex moved past
17000. After GDP growth figure of 7.9%, another sentiment booster came in the form of stupendous Auto
sales figures by all Auto Majors for the month of November. Stable to buoyant global markets further aided
the sentiments. Realty stocks witnessed strong short covering as all the major realty counters recovered
smartly. Unitech was up more than 12% on huge volumes while DLF and HDIL too notched up handsome
gains. Tata Motors moved past Rs700 while M&M too hit new high. Pharma counters too witnessed hectic
activity as stocks like Sun Pharma, Ranbaxy, Orchid, Lupin and Cipla hit new highs. Other notable gainers
were Noida Toll, Yes Bank, KFA, Hotel Leela, JP Hydro, Uniphos, Vijaya Bank, Aban, Dabur and
Nagarjuna Constructions.
Nifty is again staring at the previous high of around 5180 as it retraced almost all its losses. It can move to
about 5225-5240 in coming sessions before hitting another significant resistance. In the recent past while the
lower levels have attracted good buying and have provided smart rebounds, the higher levels have failed to
provide sustainable momentum. We are again at the recent highs and it remains to be seen whether or not
market gets the required momentum to take Nifty past 5250-5300. Autos continue to lead the way and more
upside cannot be ruled out in Tata Motors, M&M and Ashok Leyland. Bajaj Auto could also target 1740-
1760 if it sustains above 1650. Bharat Forge is also looking technically bullish and is likely to target 295 and
even 315 in coming sessions. Smaller counters that have given fresh breakouts are Hotel Leela, JP Hydro,
Uniphos and Noida Toll. Divis Lab has closed above 620 after about 6 months and sustained trades above
620 could take the stock higher to around Rs 680 and even Rs 740. Others that look positive are Ind Hotels,
BEML (above 1030), DCHL, JSPL, GSPL, Polaris and Renuka Sugars.