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F&O OUTLOOK: Resistance seen above 5,100 level
The Nifty formed another Doji pattern today after moving in a narrow band of 50 points, indicating indecisiveness among participants ahead of Christmas holidays in US and European markets. The index closed below its crucial trendline support level of 5,050, while maintaining its 50-day daily moving average (DMA) support at 5,000.

Chandrayaan-II will be a technical challenge: Mission director
India’s second mission to Moon ‘Chandrayaan-II’, expected to be launched in 2013, has many challenges for scientists and engineers, mission director M Annadurai said today.

News of the day

India to start building 20 km roads per day by April: Nath
Road Transport and Highways Minister Kamal Nath said here that India had increased its per-day construction of roads to 9 km and the target of developing 20 km daily would be accomplished by April.“We have reached 9 km per day of road construction and will hit our target of 20 km a day by April,” Nath, who was here to hold talks with the Malaysian government to invite them to enter the highway construction sector in India, said.Thirty-five Malaysian companies are already involved with various infrastructure projects in India.To construct 20 km of raods a day or 7,000 km a year, there had to be 20,000 km of work in progress, he said.
Small Business

ONGC stops drilling after cyclone warning

Oil and Natural Gas Corporation (ONGC) today said it has suspended all drilling and outdoor operations in the western offshore in view of cyclone "Phyan" in the Arabian Sea, but production is not affected. - Mittal, ONGC decide to wind up trading arm OMSEL - ONGC determined to branch out from oil and gas - Mittal, ONGC to wind up trading JV - Govt may allow ONGC to auction marginal fields - Govt may allow ONGC to auction off marginal fields - IOC shows Rs 284 cr Q2 profit on cheaper crude, drop in losses "All drilling operations, helicopter sorties and construction and maintenance work has been suspended due to the cyclone warning," ONGC Chairman RS Sharma told PTI. Western offshore is the home for the nation"s largest oil field. Mumbai High accounts for 40 per cent of the nations" total crude output and production continues at the normal rate of 2,10,000 barrels per day. Gas production from Mumbai High and the Bassien field were also normal. "We are in cyclone preparedness. We have asked our personnel in the offshore to stay indoor during the next 24 hours," Sharma said.


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