MARKET UPDATES

SHREE GANESHAY NAMAAH !
GAAR deferred: Will it bring back FIIs?
GAAR provisions to be applicable from 2013: FM
With deferment of the controversial GAAR by another year, a lot of uncertainty has been taken off the Indian markets. Soon after the finance ministerPranab Mukherjee announced that GAAR provisions would be applicable to income of FY14   and subsequent years, Sensex turned green for the first time on Monday.
Market snaps 3-day losing streak as Govt defers implementation of GAAR
Key benchmark indices snapped three-day losing streak after the Finance Minister Pranab Mukherjee said in parliament that the application of General Anti-Avoidance Rules (GAAR) has been deferred by one year until 1 April 2013. Mukherjee also said that the proposed retrospective amendment of income tax laws will not override tax break treaties. The 50-unit S&P CNX Nifty regained the psychological 5,000 mark, having alternately moved above and below that mark in intraday trade.
The barometer index, BSE Sensex, advanced 81.63 points or 0.48%, up about 400 points from the day's low and off close to 30 points from the day's high. The market breadth turned positive from negative in late trade.
NIFTY FUTURE :
Supp. 4990 / 5018 / 5048 / 5088 / 5118
CMP: 5125.95
Resis. 5139 / 5165 / 5205 / 5236 / 5269
BANK NIFTY FUTURE  :
Supp. 9421 / 9527 / 9635 / 9753
CMP : 9872.35
Resis. 9952 / 9992 / 10111 / 10218
Market Updates :
Steel producer JSW Steel jumped 7.94% to Rs 721.30. The stock topped the gainers in the BSE's 'A' group. The company will consider its year ended March 2012 results on 14 May 2012.
India's largest power equipment maker by sales Bharat Heavy Electricals (Bhel) galloped 6.12% to Rs 227.20 on bargain hunting after the stock tumbled 18.56% in the preceding thirteen sessions to Rs 214.10 on 4 May 2012, from a recent high of Rs 262.90 on 17 April 2012. The stock was second biggest gainer in 'A' group. Bhel will declare its year ended March 2012 results on 23 May 2012.
Infrastructure company Lanco Infratech climbed 5.74% to Rs 13.64. The stock was third biggest gainer in 'A' group.
Power generation company Reliance Power rose 5.39% to Rs 101.75. The stock was fourth biggest gainer in 'A' group.
State-run oil marketing company BPCL rose 5.01% to Rs 684.65. The stock was fifth biggest gainer in 'A' group.
Shares of public sector oil marketing companies rose after crude oil price declined sharply. Benchmark US crude futures for June delivery fell to $97.74 a barrel during Asian trading hours today, adding a 0.76% loss to their $98.49 settlement Friday on the New York Mercantile Exchange, when the contract lost 4%.
Lower crude oil prices will decrease under-recoveries of public sector oil marketing companies (PSU OMCs) on domestic sale of diesel, LPG and kerosene at controlled prices. The government has already freed pricing of petrol.
Stock With Volumes :
Power Grid Corporation of India clocked volume of 10.91 lakh shares by 13:10 IST on BSE, a 5.12-times surge over two-week average daily volume of 2.13 lakh shares. The stock fell 2.01% to Rs 104.80.
TTK Prestige notched up volume of 76,000 shares, a 2.77-fold rise over two-week average daily volume of 27,000 shares. The stock tumbled 12.38% to Rs 3,073.90.
MindTree clocked volume of 1.81 lakh shares, a 2.56-fold rise over two-week average daily volume of 71,000 shares. The stock rose 1.41% to Rs 589.30.
Allahabad Bank clocked volume of 4.09 lakh shares, a 2.51-fold surge over two-week average daily volume of 1.63 lakh shares. The stock tumbled 7.91% to Rs 156.50.
Asian Paints clocked volume of 24,000 shares, a 2.18-fold rise over two-week average daily volume of 11,000 shares. The stock fell 0.94% to Rs 3,583.40.
Note : Data From Capital Market And Money Control !
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