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F&O OUTLOOK: Next big resistance at 5,400
As expected, the S&P CNX Nifty closed at 5,201 levels on long rollovers in index futures and key stocks futures. The index is expected to consolidate above 5,200 in the new series before moving above the short-term target of 5,350. The rollovers in the Nifty January futures, at 22 million, were at a five-month low, which indicates that bears are waiting in the wings. At similar point in July 2009, the Nifty had gained over 500 points in a couple months to move above 5,000 in September 2009. A similar trend may see the Nifty moving above 5,500 in the near future.

US workers optimistic about their firms: survey
American professionals have high degree of confidence in the companies they are employed with as a majority of them have an optimistic outlook for their firms, a recent survey says.

News of the day

Swine flu: Pvt hospitals in Mumbai to set up isolation wards
Private hospitals in Mumbai today agreed to set up isolation wards for treatment of swine-flu affected as government said patients can get admitted to such hospitals once officials found the facilities satisfactory.
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Ranbaxy recalls skin disease drugs from US

Pharma major Ranbaxy Laboratories today said its US-based subsidiary, Ranbaxy Laboratories Inc Priceton NJ, is recalling capsules used in the treatment of acne (a type of skin disease) from the US market. - Sensex down 1%; realty, auto take the hit - Ranbaxy buys Ochoa"s brand, stock pares gains "Ranbaxy Laboratories Inc Priceton NJ is conducting a voluntary recall of Sotret Isotretinoin capsules, USP 40 mg, which is limited to Lot No 1876849, currently available in the US market," a Ranbaxy spokesperson told PTI. While Ranbaxy tested the lot in question and found it to have met the specified standards, it is recalling the product on the US health regulator Food and Drug Administration"s (FDA"s) recommendation, the company said. "Based on the US FDA"s testing and recommendations, and out of an abundance of caution; a recall has been initiated to the wholesaler/distributor level," the firm said. However, the company clarified that this is a class III recall, which signifies that the use or exposure to the product is not likely to cause adverse effects. "The recall is being conducted with the full knowledge of the US FDA," the company said. Ranbaxy got the USFDA nod to market the drug in 2003 and it has an annual sale of around $415 million in the US.


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