14 Aug 2008 | 10:15
Markets could open down, following weak global cues, but could recover partially from the lows during the day
The
Indian Markets closed on a weak note on Wednesday amidst intra-day
volatility with the BSE Sensex closing at 15093, down by 0.8% over
Tuesday’s close. After opening gap down, the Nifty recovered well to
enter the positive terrain, making an intra-day high of 4572.7.
However, it showed signs of weakness at those higher levels &
slipped once again, finally closing on a weak note at 4529.1, down by
0.5% over Tuesday’s close. The NSE cash turnover stood at Rs. 12052
crores in comparison to Rs.
13927 crores on Tuesday. The market
breadth was marginally negative on BSE with the advance-decline ratio
of 0.9:1. Among the sectoral indices, IT & Healthcare outperformed,
increasing by 1.1% each. However, Banks & Realty indices were the
major losers, which fell by 2.2% & 1.3% respectively.
The
U.S. markets fell on Wednesday, as persistent concerns about the credit
crisis hurt bank shares while a rebound in oil prices & weak
outlooks at some retailers raised anxieties about consumer spending.
Dow Jones & Nasdaq decreased by 0.9% & 0.1% respectively. The
Indian ADRs ended in the red except Infosys & MTNL, which increased
by 0.9% & 1.4% respectively. Wipro & Satyam decreased by 1%
each, while ICICI & HDFC Bank decreased by 2% & 4%
respectively. Among the Latin American markets, the Mexican market
increased
by 0.9%, while Brazilian market increased by 0.1%. Among the metal
prices, Aluminium & Zinc fell by 1.3% & 1.8% respectively,
while Copper & Nickel increased by 0.1% & 1.7% respectively.
The light crude oil for September decreased by 2.6% to settle at $116 a
barrel. Today, the Asian Markets are trading mix with Nikkei index
trading up by 0.3%, while Shanghai is trading down by 1.5%.
On Tuesday, the FIIs were net sellers of Rs. 384 crores in the cash market.
Mutual
Funds were net sellers of Rs. 266 crores. As per the provisional
figures, FIIs were net sellers of Rs. 916 crores in the cash market on
Wednesday, while they were net sellers of Rs. 908 crores in the F&O
markets.
Today, we expect the Markets to open down, following weak global cues.
However,
it could recover partially from the lows during the day. Banks &
Realty continue to look weak & could underperform.Visit site at – http://investorline.co.in/
Newsroom - http://newsroom.investorline.co.in/
Learning Center- http://learning.investorline.co.in/
Mutual funds - http://mutualfunds.investorline.co.in/
Life Insurance - http://insurance.investorline.co.in/
Investor Journal - http://research.investorline.co.in/
Investor Forums- http://forums.investorline.co.in/
Markets could open down, following weak global cues, but could recover partially from the lows during the day
The
Indian Markets closed on a weak note on Wednesday amidst intra-day
volatility with the BSE Sensex closing at 15093, down by 0.8% over
Tuesday’s close. After opening gap down, the Nifty recovered well to
enter the positive terrain, making an intra-day high of 4572.7.
However, it showed signs of weakness at those higher levels &
slipped once again, finally closing on a weak note at 4529.1, down by
0.5% over Tuesday’s close. The NSE cash turnover stood at Rs. 12052
crores in comparison to Rs.
13927 crores on Tuesday. The market
breadth was marginally negative on BSE with the advance-decline ratio
of 0.9:1. Among the sectoral indices, IT & Healthcare outperformed,
increasing by 1.1% each. However, Banks & Realty indices were the
major losers, which fell by 2.2% & 1.3% respectively.
The
U.S. markets fell on Wednesday, as persistent concerns about the credit
crisis hurt bank shares while a rebound in oil prices & weak
outlooks at some retailers raised anxieties about consumer spending.
Dow Jones & Nasdaq decreased by 0.9% & 0.1% respectively. The
Indian ADRs ended in the red except Infosys & MTNL, which increased
by 0.9% & 1.4% respectively. Wipro & Satyam decreased by 1%
each, while ICICI & HDFC Bank decreased by 2% & 4%
respectively. Among the Latin American markets, the Mexican market
increased
by 0.9%, while Brazilian market increased by 0.1%. Among the metal
prices, Aluminium & Zinc fell by 1.3% & 1.8% respectively,
while Copper & Nickel increased by 0.1% & 1.7% respectively.
The light crude oil for September decreased by 2.6% to settle at $116 a
barrel. Today, the Asian Markets are trading mix with Nikkei index
trading up by 0.3%, while Shanghai is trading down by 1.5%.
On Tuesday, the FIIs were net sellers of Rs. 384 crores in the cash market.
Mutual
Funds were net sellers of Rs. 266 crores. As per the provisional
figures, FIIs were net sellers of Rs. 916 crores in the cash market on
Wednesday, while they were net sellers of Rs. 908 crores in the F&O
markets.
Today, we expect the Markets to open down, following weak global cues.
However,
it could recover partially from the lows during the day. Banks &
Realty continue to look weak & could underperform.Visit site at – http://investorline.co.in/
Newsroom - http://newsroom.investorline.co.in/
Learning Center- http://learning.investorline.co.in/
Mutual funds - http://mutualfunds.investorline.co.in/
Life Insurance - http://insurance.investorline.co.in/
Investor Journal - http://research.investorline.co.in/
Investor Forums- http://forums.investorline.co.in/
0 comments:
Post a Comment