20 Aug 2008 | 10:01
Markets could open flat & try to inch up during the day
On
Tuesday, the Indian Markets managed to recover from the lows, but
closed in the red with the BSE Sensex closing at 14,543.7, down by 0.7%
over Monday’s close. The Nifty open down & remained weak through
the day, making an intra-day low of 4316.6. However, it bounced back
from those levels & closed down by 0.6% at 4368.3. The NSE cash
turnover stood at Rs. 8930 crores in comparison to Rs. 9357 crores on
Monday. The market breadth was negative on BSE with the advance-decline
ratio of 2:3. Among the sectoral indices, Power & Banks were up by
0.3% & 0.1%. The rest of the indices closed in the red with TECk
& Consumer Durables falling the most by 1.4% & 1.1%
respectively.
The U.S. markets closed on a weak note on Tuesday
as credit worries hit bank shares and a report showing inflation
remains a threat despite slower growth. Dow Jones & Nasdaq fell by
1.1% & 1.4% respectively. The Indian ADRs ended on a mix note with
Infosys & Satyam closing down by 2.1% & 3.2%
respectively. Wipro increased by 0.8%. MTNL fell by 3.1%, while Tata
Motors decreased by 2%. However, ICICI & HDFC bank closed marginally up.
Among
the Latin American markets, the Mexican market decreased by 0.2%, while
Brazilian markets fell by 1.7%. Among the metal prices, Aluminium &
Copper decreased by 0.8% & 0.1% respectively, while Zinc &
Nickel increased by 3.6% & 3.8% respectively. The light crude oil
for September increased by 1.5% to settle at $114.5 a barrel. Today,
the Asian Markets are trading in the positive with Hang Seng &
Shanghai trading up by 1.8% & 5.9% respectively, while Nikkei is
trading marginally down by 0.3%.
As per the provisional figures,
FIIs were net sellers of Rs. 716 crores in the cash market on Tuesday,
while they were net sellers of Rs. 975 crores in the F&O markets.
Today,
we expect the Markets to open flat & inch up during the day. Among
the sectoral indices, Banks & Capital Goods could do well.
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Markets could open flat & try to inch up during the day
On
Tuesday, the Indian Markets managed to recover from the lows, but
closed in the red with the BSE Sensex closing at 14,543.7, down by 0.7%
over Monday’s close. The Nifty open down & remained weak through
the day, making an intra-day low of 4316.6. However, it bounced back
from those levels & closed down by 0.6% at 4368.3. The NSE cash
turnover stood at Rs. 8930 crores in comparison to Rs. 9357 crores on
Monday. The market breadth was negative on BSE with the advance-decline
ratio of 2:3. Among the sectoral indices, Power & Banks were up by
0.3% & 0.1%. The rest of the indices closed in the red with TECk
& Consumer Durables falling the most by 1.4% & 1.1%
respectively.
The U.S. markets closed on a weak note on Tuesday
as credit worries hit bank shares and a report showing inflation
remains a threat despite slower growth. Dow Jones & Nasdaq fell by
1.1% & 1.4% respectively. The Indian ADRs ended on a mix note with
Infosys & Satyam closing down by 2.1% & 3.2%
respectively. Wipro increased by 0.8%. MTNL fell by 3.1%, while Tata
Motors decreased by 2%. However, ICICI & HDFC bank closed marginally up.
Among
the Latin American markets, the Mexican market decreased by 0.2%, while
Brazilian markets fell by 1.7%. Among the metal prices, Aluminium &
Copper decreased by 0.8% & 0.1% respectively, while Zinc &
Nickel increased by 3.6% & 3.8% respectively. The light crude oil
for September increased by 1.5% to settle at $114.5 a barrel. Today,
the Asian Markets are trading in the positive with Hang Seng &
Shanghai trading up by 1.8% & 5.9% respectively, while Nikkei is
trading marginally down by 0.3%.
As per the provisional figures,
FIIs were net sellers of Rs. 716 crores in the cash market on Tuesday,
while they were net sellers of Rs. 975 crores in the F&O markets.
Today,
we expect the Markets to open flat & inch up during the day. Among
the sectoral indices, Banks & Capital Goods could do well.
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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