Nifty below 5450

The Indian markets opened on a weak note ahead of expiry this week. Asian markets shed in the range of 1-2%. Rally in dollar and concerns over Greece debt were two culprits for gap down opening. Results announced during the weekend were reflecting in stocks like Rei Agro and MOIL.

Banks, auto, metal and IT stocks were leading the bears from the front. All BSE Sectoral indices were trading in red barring FMCG.

At 09.21 hrs, the Sensex was down 156.91 points or 0.86% at 18169.18, and the Nifty was down 54.75 points or 1.00% at 5431.60. About 343 shares advanced, 600 shares declined, and 2699 shares remain unchanged.

Index heavyweight Reliance was trading at Rs 913.45 down 0.86% from its previous close of Rs 921.40. Refinery major HPCL was trading at Rs 357.60 down 0.91% from its previous close of Rs 360.90. Tech major Infosys was trading at Rs 2,843.90 down 0.23% from its previous close of Rs 2,850.55.

Why invest in an IPO?

Consider this, in 2009 the market saw almost Rs 50,000 crore raised from the primary market. In the year after that, that number actually doubled. But this year, the market has seen a paltry Rs 8000-9000 raised from the market. Many of them have been issues that are so small that often it is difficult to understand what the business are about and how exactly these companies should be valued.

CNBC-TV18’s special show Informed Investor, talks in more detail about the primary markets space and how to approach the potential initial public offerings (IPOs). It discusses which one is worth a subscription and which one looks like a skip.Why invest in an IPO?

Recommendations This Week (May 23 - May 27, 2011)

Company	Recommendation	CMP (Rs.)	Target Price (Rs.)	Stop Loss (Rs.)
ALOIND	Buy	24.9	27.0	23.9
DIVLAB	Buy	727.4	780.0	700.0
MAHMAH	Buy	690.9	750.0	655.8

Source from Edelweiss.in

Strauss-Kahn released on bail

Fallen IMF chief Dominique Strauss-Kahn left jail on bail on Friday and was whisked to a safe house off Wall Street where he will be held under round-the-clock armed guard.

French Finance Minister Christine Lagarde led the race to succeed him in the top job in global finance. But developing countries, whose clout in the world economy has grown in recent years, kept up pressure on Europe and the United States to avoid a backroom deal over the appointment. IMF comes out with a new code of conduct

Kanimozhi & Sharad Kumar arrested: 2G SCAM

DMK MP Kanimozhi and Kalaignar TV MD and CEO Sharad Kumar have been arrested in the 2G spectrum scam case. A Special Central Bureau of Investigating (CBI) court dismissed the bail petition of Kanimozhi and Sharad Kumar in the case on Friday following which they were taken into custody.

While rejecting their bail petition Judge OP Saini ordered their "forthwith" arrest and directed the duo to appear before it at 10 am on Saturday. Kanimozhi and Kumar will be lodged in Delhi's Tihar jail.

After the judge rejected her bail petition, Kanimozhi looked tensed but said that she expected the order. A Raja's wife walked upto her and comforted her.

She also sought permission from the court to get her reading glasses, books and medicines.

Kanimozhi, the daughter of DMK chief and former Tamil Nadu chief minister M Karunanidhi, has been chargesheeted by the CBI for allegedly accepting Rs 200 crore as bribe for Kalaignar TV, where she is a 20 per cent share holder.

Both have been chargesheeted by CBI for allegedly conspiring with former telecom minister A Raja in the 2G scam case.

She has also been charged under the Prevention of Corruption Act for taking bribe through Kalaignar TV - a channel run by DMK - in which the bribe of Rs 200 crore was routed from Shahid Usman Balwa's firm DB Realty.