18 Aug 2008 | 10:05
Markets could open flat, fall marginally and recover from the lows
The
Indian Markets witnessed strong selling on Thursday, closing deep in
the red. The BSE Sensex closed at 14,724, down by 2.4% over Wednesday’s
close. After opening gap down, the Nifty remained weak through the day.
It made an intra-day low of 4,421.25 towards the end, before closing at
4,430.7, down by 2.2% over Wednesday’s close. The NSE cash turnover
stood at Rs. 11,019 crores in comparison to Rs. 12,052 crores on
Wednesday. The market breadth was negative on BSE with the
advance-decline ratio of 0.4:1.
Among the sectoral indices, IT &
TECk outperformed, increasing by 2.2% & 0.4% respectively. However,
Realty & Banks indices were the major losers, which fell by 8%
& 5.1% respectively. The markets remained closed on Friday, 15
August 2008 on account of Independence Day.
The U.S. markets
witnessed a consolidation phase last week before closing slightly in
the positive by 0.38% on Friday. The continued strength in the dollar
and weakness in the commodities led to the sideways movement. The
Nasdaq also ended flat by 0.1%. It was a mixed day for the Indian ADRs
wherein Infosys, Dr Reddy’s, Tata Motors and HDFC Bank gaining by
0.35%, 0.57%, 0.3% and 0.82% respectively. The losers in the ADRs were
MTNL, Satyam Computers, ICICI Bank and Wipro, falling 1.91%, 1.25%,
0.95% and 0.51% respectively. Among the Latin American markets, the
Mexican market increased by 0.34%, while Brazilian market fell by
1.62%. All the metal prices were in negative with Copper & Nickel
losing 4.21% and 3.29% each respectively. Aluminium & Zinc fell by
1.64% & 0.03% respectively. The light crude oil for September fell
by 1.24% to settle at $113.77 a barrel.
Today, the Asian Markets are
trading mix with Nikkei up by 1.77%, while Hang Seng and Straits Times
trading in negative by 0.94% and 0.23% respectively.
On
Wednesday, the FIIs were net sellers of Rs. 646.3 crores in the cash
market. As per the provisional figures, FIIs were net sellers of Rs.
574 crores in the cash market on Thursday, while they were net sellers
of Rs.
676 crores in the F&O markets.
Today, we expect
the Markets to open flat, following weak global cues but could recover
during the day. However, it could recover from the lows during the day.
Healthcare and IT could do well today.
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Markets could open flat, fall marginally and recover from the lows
The
Indian Markets witnessed strong selling on Thursday, closing deep in
the red. The BSE Sensex closed at 14,724, down by 2.4% over Wednesday’s
close. After opening gap down, the Nifty remained weak through the day.
It made an intra-day low of 4,421.25 towards the end, before closing at
4,430.7, down by 2.2% over Wednesday’s close. The NSE cash turnover
stood at Rs. 11,019 crores in comparison to Rs. 12,052 crores on
Wednesday. The market breadth was negative on BSE with the
advance-decline ratio of 0.4:1.
Among the sectoral indices, IT &
TECk outperformed, increasing by 2.2% & 0.4% respectively. However,
Realty & Banks indices were the major losers, which fell by 8%
& 5.1% respectively. The markets remained closed on Friday, 15
August 2008 on account of Independence Day.
The U.S. markets
witnessed a consolidation phase last week before closing slightly in
the positive by 0.38% on Friday. The continued strength in the dollar
and weakness in the commodities led to the sideways movement. The
Nasdaq also ended flat by 0.1%. It was a mixed day for the Indian ADRs
wherein Infosys, Dr Reddy’s, Tata Motors and HDFC Bank gaining by
0.35%, 0.57%, 0.3% and 0.82% respectively. The losers in the ADRs were
MTNL, Satyam Computers, ICICI Bank and Wipro, falling 1.91%, 1.25%,
0.95% and 0.51% respectively. Among the Latin American markets, the
Mexican market increased by 0.34%, while Brazilian market fell by
1.62%. All the metal prices were in negative with Copper & Nickel
losing 4.21% and 3.29% each respectively. Aluminium & Zinc fell by
1.64% & 0.03% respectively. The light crude oil for September fell
by 1.24% to settle at $113.77 a barrel.
Today, the Asian Markets are
trading mix with Nikkei up by 1.77%, while Hang Seng and Straits Times
trading in negative by 0.94% and 0.23% respectively.
On
Wednesday, the FIIs were net sellers of Rs. 646.3 crores in the cash
market. As per the provisional figures, FIIs were net sellers of Rs.
574 crores in the cash market on Thursday, while they were net sellers
of Rs.
676 crores in the F&O markets.
Today, we expect
the Markets to open flat, following weak global cues but could recover
during the day. However, it could recover from the lows during the day.
Healthcare and IT could do well today.
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/
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