Tuesday, 31 December 2013

Future and Option Tips-Indian Stock Market in Consolidation Phase

Indian Stock markets are trading into consolidation phase with no major movement seen in the last few trading sessions as FIIs were not actively participating ahead of the Christmas and New Year vacations. Nifty futures started the January series at higher OI at around 3.98 lakh contracts vs 3.72 lakh in the previous series. 
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Nifty futures in the previous series moved from 6,150 till lifetime high of 6,480 levels, but could not sustain at higher levels and slipped to retest 6,150 levels. Nifty futures may remain range bound at 6,200-6,400 levels before taking any major directional view.

Today’s Tops Stock Future News

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  • Apollo Tyres: Shares of Apollo Tyres will be in focus after US based tyre maker Cooper Tire & Rubber Company on Monday, 30 December 2013, announced that it has terminated the merger agreement with Apollo Tyres.
  • Jain Irrigation Ltd: Jain Irrigation Systems has bagged a Rs 385.7-crore project from the Karnataka government that would benefit 35 villages of Bagalkot district in the state.

  • GMR Infrastructure Ltd: The GMR Group has divested its 40% stake in the Istanbul's Sabiha Gokcen international airport for Rs 1,910 crore.

  • Piramal Enterprises Ltd: British telecom giant Vodafone received approval from the Foreign Investment Promotion Board to increase its stake to 100 per cent from 64.38 per cent at present.

  • Asian stocks rose on Tuesday as energy shares advanced. Key benchmark indices in China, Hong Kong, Taiwan, and Singapore were up 0.11% to 0.37%. Stock markets in Japan, South Korea, Indonesia, Thailand, the Philippines and Vietnam were closed for holidays.

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