MUMBAI: Equities opened flat to negative on Tuesday morning, tracking mixed cues from Asian peers and amid uncertainty in the overall sentiment. At 10:05 am, the Bombay Stock Exchange’s Sensex was up 37 points or 0.25 per cent at 14,846.64. The index touched a high of 14,725.68 and low of 14,677.24 in trade so far.

Sensex gainers comprised Larsen & Toubro (up 0.98%), Maruti Suzuki (0.43%) and DLF (0.35%). HDFC Bank (down 3.11%), Ranbaxy Laboratories (1.82%), Satyam Computer (1.63%), Hindalco Industries (1.24%), Tata Motors (1.05%) and Infosys Technologies (1.05%) were the major losers. The National Stock Exchange’s Nifty was up 28 points or 0.62 per cent at 4531.05. The index touched a high of 4533.95 and low of 4468.55 in trade so far.

“We might see a flat opening due to global sentiments, but at the same time, a fresh short built up could be seen. The PCR (put-call-ratio) has come down to 0.85, indicating a huge short build up is happening in call options. In any technical bounce back, the Nifty might face very strong resistance around 4600 levels,” Standard Chartered - STCI Capital Market, said in a note.

Asian stocks fell, reversing earlier gains, after Chinese Premier Wen Jiabao said his government will take ``forceful'' measures to combat inflation. China’s CSI 300 Index was down 2.98 per cent, the Hang Seng was down 2.28 per cent in Hong Kong, the Straits Times lost 0.81 per cent in Singapore, while Japan’s Nikkei 225 was 0.48 per cent higher.

US stocks shook off the bulk of their steep losses on Monday, with JP Morgan Chase fronting a blue-chip rise just one day after its heavily discounted bid for Bear Stearns and the Federal Reserve's extraordinary discount rate cut. The Dow Jones Industrial Average finished 0.18 per cent higher, while the Standards & Poor’s 500 Index was down 0.9 per cent and the Nasdaq Composite Index shed 1.6 per cent.

Source : The Economic Times

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MAY BE IN COMMING DAYS SENSEX CAN TOUCH 14777-12500-11000

HOPE U ENJOYED WITH MY CALL TODAY SELL DLF/SELL PUNJ LLYOD/SELL NALCO/SELL DLF/ BUY CIPLA AND BHARTI

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LONG TERM INVEST:REL/GAIL/TATA MOTOR/ONGC/RPL/INFOSYS/IDEA//IFCI


Source : nsebseadvisor.blogspot.com

NEW DELHI: General Motors Corp wants to launch a second small car in India in the next two years as it looks to capitalise on growth in emerging markets to offset any sluggishness in US sales, a senior company official said.

The model will not compete directly with Tata Motors' low-cost Nano but will be cheaper than GM's current lowest priced car in India, David Reilly, GM group vice-president, told a news conference on Monday.

Small cars less than 4 metres in length make up nearly three-quarters of India's market. General Motors offers the Chevrolet Spark in the sector for about Rs 3 lakhs ($7,350).

"We need some thing lower than what we have got now. I think if we could find a vehicle less than that, it would not only benefit India but could benefit other places also," Reilly said, without detailing how much the new model would cost. "But I would not call it an equivalent of Nano."

Tata Motors unveiled the $2,500 Nano, the world's cheapest car, in January and said the new four-seater would roll out later in the year from its West Bengal factory.

Reilly said sales growth in emerging markets would outpace any softening in established markets like the United States and would help maintain the firm's total global sales expansion. "I don't predict a slowdown, but this year US would be tough," he said.

General Motors, which has a 3 percent share of the Indian vehicle market, has a manufacturing plant in the western state of Gujarat and is building a second facility near Pune in neighbouring Maharashtra state.

Reilly said the first trial car from the Pune plant, which will begin commercial production in the last quarter of 2008 with an initial production capacity of 140,000 vehicles, would be rolled out on Wednesday.

The company also plans to build an engine plant in India, but Reilly would not share details. "We are still in some negotiations. We absolutely intend to go ahead with it," he said, adding that the company would give further information within the next two months.

Source : TET