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MORNING VIEW: 27-01-2012


Nifty is likely to open on a flat to negative note based on the global cues and may find support at 5100 levels. Bias remains positive and any intraday dip should be utilized for buying.

Domestic News

·         R-Power has roped in RWE Power International of Germany to help the company with
extracting coal from its captive mines.
·         Mumbai's Home Sales Decline to Three-Year Low as Record Prices Dent Demand.
·         Railways to raise Rs 6300 cr from bond issue.
·         Finance ministry for higher excise duty on diesel cars.
·         Ministry SoS to ensure RIL gas for 2 NTPC projects.
·         State may create special LA cell for NTPC project.
·         Hero set to launch an Edition with Marriott.
·         NHAI bonds to be listed next week.
·         Oriental Hotels exits Roots Corp.
·         SAIL-Moil ventures may be called off.
·         Parle takes war for choco-cookies to the low end.
·         Vijay Mallya discusses Kingfisher recovery plan with DGCA top brass.
·         MF exposure to NBFCs jumps 30% in six months.
·         Strides sells Australian arm to Watson for $396 million.

Global Update

The US markets finished lower in thin trading following a disappointing new home sales report and as earlier enthusiasm faded over the Fed's decision to hold interest rates near zero until at least 2014.

On economic data front, weekly jobless claims gained 21,000 last week to a seasonally adjusted 377,000. Meanwhile, new home sales posted a surprising drop in December for the first time in four months to a seasonally adjusted 307,000. And durable goods orders increased for the second straight month in December.

In key data to watch out for in the US today, GDP is expected to rise to 3.1% in the fourth quarter. Meanwhile, consumer sentiment is expected to remain unchanged at 74 for the month of January.