News Update:

• Aventis Pharma to export paracetamol to Australia this yr onwards

• Parsvnath to launch 13,200 sq m housing project in Jamnagar 

• Bombay Rayon arm to buy Italian co’s retail ops 

• Hindustan Zinc cuts lead price by Rs 2,800/tn; zinc Rs 2,400 

• Parsvnath launches housing, mall project in Jamnagar

• Gayatri Projets gets 6 orders worth Rs 967.9 mn

• AVT Natural ends sale pact with US horticultural co

• Sterlite Tech gets Rs 2.96 bn orders from Power Grid Corp

• RIL to drill 3 new production wells in KG Basin MA field

• RIL has found oil from MA field in KG Basin’s D6 Block

• DGH OKs Reliance Ind development plan for KG Basin MA field

• BSE to exclude S Kumar Nationwide from mid-Cap, 500 indices Thu

• Unitech’s arm gets spectrum in Tamil Nadu including Chennai

• Sun Pharma arm gets US nod to market anti-cancer drug iriontecan

FII activity for 23/04/08: Net Sellers of Rs. 276.39 Crs. in Index Futures, Net Buyers of Rs 637.35 crs in Index Options, Net Sellers of Rs 230.71 Crs. in Stock Futures and Net Buyers of Rs 5.49 Crs in Stock Options.  

Opening Market Review: Markets are likely to be volatile with no clear bias. Nifty (market) is strong above weak below: 5037; Sensex: 16720; Nifty Rest: 5070-5117; Supt: 4990-4957; Sensex Rest: 16850-17001; Supt: 16568-16438. Buying (Trading) opportunities exist in AIA Eng, Birla Corp, Bombay Dyeing, Century Text, EKC, Lupin, Tata Motors, Tata Steel, GBN. Cash buying in Grasim, Hind Unilever, Jindal Saw, HCC, Hind Zinc. Nifty April Fut. strong above/weak below: 5047; Rest: 5077-5111; Support: 5013-4983.

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