market beeps 30-06-2011

US Stocks on Wednesday extended their winning run to a third straight day as Greece approved debt-reduction measures and Wall Street prepped for closing the books on the second quarter.

News Bytes

* SBI to go back to govt again for rights issue

* NTPC asked to shut down four units in Orissa

* ONGC board set to file prospectus for follow-on issue

* Tata Steel eyes steel scrap recycling in SE Asia

* StanChart PE exits ABG Shipyard

* DLF expects Rs 700 cr sales from Gurgaon plots

* NHPC to finalise JV for 3 projects in Orissa

* Reliance Broadcast to invest up to Rs 200 crore in FM radio segment

* Inflation to decline to 6.5% by March if oil prices soften: PM

* Bata mulls organic expansion, foray into rural markets

* Cummins India lines up Rs2,000 crore capex for the next five years

Markets : Looking solid but a correction due

After continous rally for five straight sessions, we expect Markets to cool-off but not today though. F&O expiry might keep the players on their toes. We see bullish run up going into the next month also. But a follow up rally is dependant on Infosys numbers.

First quarter earnings are due next and market direction is dependant on the same.

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Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.