13 Aug 2008 | 10:14
Markets could open down & remain weak following negative global cues
The
Indian Markets witnessed profit taking on Tuesday with the BSE Sensex
closing at 15212, down by 1.9% over Monday’s close. After opening
marginally up, the Nifty started showing signs of weakness. It
corrected through the day, making an intra-day low of 4525.8 before it
closed at 4552.3, down by 1.5% over Monday’s close. The NSE cash
turnover stood at Rs. 13927 crores in comparison to Rs. 12438 crores on
Monday. The market breadth was negative on BSE with the advance-decline
ratio of 2:3. Among the sectoral indices, only FMCG index outperformed,
increasing by 0.7%.
However, Metals, Banks & IT indices were the major losers, which fell by 3.6%, 3.4% & 2.8% respectively.
The
U.S. markets fell on Tuesday, as bank shares tumbled on fresh worries
about the economy and further losses stemming from the mortgage crisis.
Dow Jones & Nasdaq decreased by 1.2% & 0.4% respectively. The
Indian ADRs ended in the red with Infosys, Wipro & Satyam
decreasing by 3.3%, 3.2% & 4.5% respectively. ICICI & HDFC Bank
decreased by 8.2% & 5.3% respectively. Tata Motors decreased by
3.7%. Among the Latin American markets, the Mexican market decreased by
1.1%, while Brazilian market decreased by 0.4%. Among the metal prices,
Aluminium & Copper fell by 1.5% & 2% respectively, while Zinc
& Nickel fell by 0.4% & 1.7% respectively. The light crude oil
for September decreased by 1.3% to settle at $113 a barrel. Today, the
Asian Markets are trading down with Nikkei & Hang Seng index
trading down by 2.2% & 1% respectively. Shanghai is trading down by
2.2%.
On Monday, the FIIs were net buyers of Rs. 410 crores in
the cash market, while they were net buyers of Rs. 816 crores in the
F&O Markets. Mutual Funds were net buyers of Rs. 455 crores. As per
the provisional figures, FIIs were net sellers of Rs. 687 crores in the
cash market on Tuesday, while they were net sellers of Rs. 864 crores
in the F&O markets.
Today, we expect the Markets to open down & remain weak following negative
global cues. Any positive outcome from SEBI boardmeeting today could
improve the market sentiments towards the end. Banks, IT, Capital Goods & Metals are looking 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 & remain weak following negative global cues
The
Indian Markets witnessed profit taking on Tuesday with the BSE Sensex
closing at 15212, down by 1.9% over Monday’s close. After opening
marginally up, the Nifty started showing signs of weakness. It
corrected through the day, making an intra-day low of 4525.8 before it
closed at 4552.3, down by 1.5% over Monday’s close. The NSE cash
turnover stood at Rs. 13927 crores in comparison to Rs. 12438 crores on
Monday. The market breadth was negative on BSE with the advance-decline
ratio of 2:3. Among the sectoral indices, only FMCG index outperformed,
increasing by 0.7%.
However, Metals, Banks & IT indices were the major losers, which fell by 3.6%, 3.4% & 2.8% respectively.
The
U.S. markets fell on Tuesday, as bank shares tumbled on fresh worries
about the economy and further losses stemming from the mortgage crisis.
Dow Jones & Nasdaq decreased by 1.2% & 0.4% respectively. The
Indian ADRs ended in the red with Infosys, Wipro & Satyam
decreasing by 3.3%, 3.2% & 4.5% respectively. ICICI & HDFC Bank
decreased by 8.2% & 5.3% respectively. Tata Motors decreased by
3.7%. Among the Latin American markets, the Mexican market decreased by
1.1%, while Brazilian market decreased by 0.4%. Among the metal prices,
Aluminium & Copper fell by 1.5% & 2% respectively, while Zinc
& Nickel fell by 0.4% & 1.7% respectively. The light crude oil
for September decreased by 1.3% to settle at $113 a barrel. Today, the
Asian Markets are trading down with Nikkei & Hang Seng index
trading down by 2.2% & 1% respectively. Shanghai is trading down by
2.2%.
On Monday, the FIIs were net buyers of Rs. 410 crores in
the cash market, while they were net buyers of Rs. 816 crores in the
F&O Markets. Mutual Funds were net buyers of Rs. 455 crores. As per
the provisional figures, FIIs were net sellers of Rs. 687 crores in the
cash market on Tuesday, while they were net sellers of Rs. 864 crores
in the F&O markets.
Today, we expect the Markets to open down & remain weak following negative
global cues. Any positive outcome from SEBI boardmeeting today could
improve the market sentiments towards the end. Banks, IT, Capital Goods & Metals are looking 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