MARKET UPDATES

SHREE GANESHAY NAMAAH !
Sensex down 244 pts on RBI's rate status quo; Banks dip 3%
Fitch revises India's outlook to negative from stable
The market was prepared for one positive and one negative event today; a fractured verdict in the Greece polls, and back home, a 25-basis point reduction each in repo rate and cash reserve ratio. Investors did get their one good and one bad news, but not in the way they were expecting. The pro-bailout New Democracy Party won the Greek elections, reducing changes of a Euro break-up, but the Reserve Bank of India sprang a nasty surprise by leaving benchmark rates unchanged.
Dejected bulls dumped the shares they had loaded up on in anticipation of the rate cuts, sending the Sensexcrashing by 244 points. The index ended the day at 16,705.83, after touching a low of 16,636.09 during the day. The Nifty shed 74.80 points to close at 5,064.25.
NIFTY FUTURE :
Supp. 4896 / 4934 / 4970 / 5015
CMP: 5058.90
Resis. 5103 / 5148 / 5183 / 5220
BANK NIFTY FUTURE  :
Supp. 9168 / 9290 / 9413 / 9560
CMP : 9707.50
Resis. 9856 / 10002 / 10125 / 10246
Market Updates :
Nalco leads gainers in 'A' group
Motherson Sumi Systems, Stride Arcolab, Rashtriya Chemicals and Fertilisers and EIH are among the other gainers.
State-run National Aluminium Company (Nalco) rose 3.36% to Rs 60.05 on report the government has initiated the process of 10% stake sale in the company, which may fetch the exchequer an estimated Rs 12,000 crore. The stock topped the gainers in the BSE's 'A' group.
The government holds 87.15% stake in Nalco (as on 31 March 2012).
Auto component maker Motherson Sumi Systems rose 1.80% to Rs 160.80. The stock wassecond biggest gainer in 'A' group.
Pharmaceutical company Stride Arcolab rose 1.80% to Rs 719.25. The stock was third biggest gainer in 'A' group.
State-run Rashtriya Chemicals and Fertilisers rose 1.66% to Rs 58.05. The stock was fourth biggest gainer in 'A' group.
Hotel chain operator EIH rose 1.37% to Rs 77.50. The stock was fifth biggest gainer in 'A' group.
Stock With Volumes :
Volumes jump at MindTree counter
Tata Sponge Iron, Parsvnath Developers, Eicher Motors and Glodyne Technoserve are among the other stocks to see a surge in volumes on BSE on 18 June 2012.
MindTree clocked volume of 19.78 lakh shares by 13:19 IST on BSE, a 236.16-times surge over two-week average daily volume of 8,000 shares. The stock lost 0.01% to Rs 612.45.
Tata Sponge Iron notched up volume of 2.10 lakh shares, a 35.87-fold rise over two-week average daily volume of 6,000 shares. The stock jumped 13.51% to Rs 347.95.
Tata Steel after market hours on Friday, 15 June 2012 announced a voluntary open offer to the shareholders of Tata Sponge Iron for acquisition of upto 17.34 lakh equity shares offace value of Rs 10 each at Rs 375 per share aggregating Rs 65.02 crore, constituting 11.26% of the equity share capital of Tata Sponge Iron. After the acquisition, the Tata Steel's holding in the company will go up to 51% from the current 39.74%, if subscribed fully. The offer price is at a premium of 22.32% over Tata Sponge Iron's closing price of Rs 306.55 on Friday, 15 June 2012.
Parsvnath Developers clocked volume of 20.90 lakh shares, a 6.01-fold rise over two-week average daily volume of 3.48 lakh shares. The stock rose 1.82% to Rs 61.50.
Eicher Motors clocked volume of 26,000 shares, a 2.72-fold surge over two-week average daily volume of 10,000 shares. The stock lost 2.89% to Rs 1,997.
Glodyne Technoserve clocked volume of 4.20 lakh shares, a 2.38-fold rise over two-week average daily volume of 1.77 lakh shares. The stock rose 1.63% to Rs 423.50.
Note : Data From Capital Market And Money Control !
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