04 Aug 2008 | 09:57
Markets expected to open down following negative global cues & make an attempt to recover during the day
The
Indian Markets registered a smart rally on Friday with the BSE Sensex
closing at 14656.7, up by 2.1% over Thursday’s close. The Nifty opened
gap down & made an intra-day low of 4235.7 in the early hour of
trade, but recovered strongly from thereon & strengthened through
the day. It made an intra-day high of 4422.95 towards the end before
closing at 4413.6, up by 1.9% over Thursday’s close. The NSE cash
turnover stood at Rs. 15705 crores in comparison to Rs. 15387 crores on
Thursday. The market breadth was positive on BSE with the
advance-decline ratio of nearly 1:0.7. Among the sectoral indices,
Capital Goods & Power indices were the major gainers, which
increased by 3.8% & 3.4% respectively. However, FMCG & Auto
indices underperformed, decreasing by 0.8% & 0.6% respectively.
On
Friday, the U.S. markets ended lower on account of disappointing
quarterly results from General Motors & rise in the oil prices. Dow
Jones & Nasdaq decreased by 0.5% & 0.6%. The Indian ADRs ended
in the green with Infosys, Wipro & Satyam increasing by 2.7%, 1.6%
& 4.6% respectively. ICICI & HDFC Bank were up by 2.7% &
1.9% respectively. MTNL closed up by 3.5%.
Among the Latin American
markets, the Mexican market decreased by 2%, while Brazilian market
decreased by 3.2%. Among the metal prices, Aluminium & Copper
decreased by 2.1% each, while Zinc & Nickel decreased by 2.8% each.
The
light crude oil for September increased by 2.1% to settle at $125.1 a
barrel. Today, the Asian Markets are trading down with Nikkei &
Hang Seng trading down by 1% each, while Shanghai index is trading down
by 0.9%.
On Thursday, the FIIs were net buyers of Rs. 597 crores
in the cash market, while they were net buyers of Rs. 1557crores in the
F&O Markets. As per the provisional figures, FIIs were net sellers
of Rs. 587 crores in the cash market on Friday, while they were net
buyers of Rs. 196 crores in the F&O markets.
Today, we expect the Markets to open down following negative global cues.
However,
it could make an attempt to recover during the day. Among the indices,
FMCG & Auto indices are looking weak & could underperform.
However IT, Metals & PSUs are looking good.
Markets expected to open down following negative global cues & make an attempt to recover during the day
The
Indian Markets registered a smart rally on Friday with the BSE Sensex
closing at 14656.7, up by 2.1% over Thursday’s close. The Nifty opened
gap down & made an intra-day low of 4235.7 in the early hour of
trade, but recovered strongly from thereon & strengthened through
the day. It made an intra-day high of 4422.95 towards the end before
closing at 4413.6, up by 1.9% over Thursday’s close. The NSE cash
turnover stood at Rs. 15705 crores in comparison to Rs. 15387 crores on
Thursday. The market breadth was positive on BSE with the
advance-decline ratio of nearly 1:0.7. Among the sectoral indices,
Capital Goods & Power indices were the major gainers, which
increased by 3.8% & 3.4% respectively. However, FMCG & Auto
indices underperformed, decreasing by 0.8% & 0.6% respectively.
On
Friday, the U.S. markets ended lower on account of disappointing
quarterly results from General Motors & rise in the oil prices. Dow
Jones & Nasdaq decreased by 0.5% & 0.6%. The Indian ADRs ended
in the green with Infosys, Wipro & Satyam increasing by 2.7%, 1.6%
& 4.6% respectively. ICICI & HDFC Bank were up by 2.7% &
1.9% respectively. MTNL closed up by 3.5%.
Among the Latin American
markets, the Mexican market decreased by 2%, while Brazilian market
decreased by 3.2%. Among the metal prices, Aluminium & Copper
decreased by 2.1% each, while Zinc & Nickel decreased by 2.8% each.
The
light crude oil for September increased by 2.1% to settle at $125.1 a
barrel. Today, the Asian Markets are trading down with Nikkei &
Hang Seng trading down by 1% each, while Shanghai index is trading down
by 0.9%.
On Thursday, the FIIs were net buyers of Rs. 597 crores
in the cash market, while they were net buyers of Rs. 1557crores in the
F&O Markets. As per the provisional figures, FIIs were net sellers
of Rs. 587 crores in the cash market on Friday, while they were net
buyers of Rs. 196 crores in the F&O markets.
Today, we expect the Markets to open down following negative global cues.
However,
it could make an attempt to recover during the day. Among the indices,
FMCG & Auto indices are looking weak & could underperform.
However IT, Metals & PSUs are looking good.
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