01 Aug 2008 | 10:06
Markets expected to open down following the negative global cues, but could recover from the lows during the day
The
Indian Markets consolidated on Thursday with BSE Sensex closing at
14355.8, up by 0.5% over Wednesday’s close. The Nifty opened flat and
remained range bound through the entire session. It made an intra-day
high of 4342 during the day but faced resistance at those levels. In
the end, it managed to close at 4332.2, up by 0.5% over Wednesday’s
close. The NSE cash turnover stood at Rs. 15387 crores in comparison to
Rs. 12734 crores on Wednesday. The market breadth was neutral on BSE
with the advance-decline ratio of nearly 1:1. Among the sectoral
indices, Metals & Oil & gas were the major gainers, which
increased by 1.7% & 1.2% respectively. However, Healthcare was an
underperformer, which decreased by 1.1%.
The U.S. markets ended
on a weak note on Thursday, led by Exxon Mobil after its earnings fell
short of Wall Street's expectations & as disappointing economic
data revived fears of a U.S. recession. Dow Jones & Nasdaq
decreased by 1.8% & 0.2%. The Indian ADRs ended in the red except
Infosys & Wipro, which increased by 0.7% & 1.1% respectively.
Satyam decreased by 1.6%, while Dr. Reddy’s fell by 3%. HDFC Bank was
down by 2.5%. Tata Communications & MTNL closed down by 2.7% &
3.7% respectively. Among the Latin American markets, the Mexican market
increased by 0.1%, while Brazilian market decreased by 0.8%. Among the
metal prices, Aluminium & Copper increased by 0.7% & 2.7%
respectively, while Zinc & Nickel increased by 2.6% & 2.3%
respectively. The light crude oil for August decreased by 2.1% to
settle at $124.1 a barrel. Today, the Asian Markets are trading down
with Nikkei & Hang Seng trading down by 2% each, while Shanghai
index is trading down by 1.3%.
On Wednesday, the FIIs were net
sellers of Rs. 392 crores in the cash market, while they were net
buyers of Rs. 1936 crores in the F&O Markets.
Mutual Funds were
net buyers of Rs. 690 crores. As per the provisional figures, FIIs were
net buyers of Rs. 495 crores in the cash market on Thursday, while they
were net buyers of Rs. 1557 crores in the F&O markets.
Today,
we expect the Markets to open down following the negative global cues.
However, it could recover from the lows during the day. Among the
indices, Metals & Oil & Gas are looking good, while Healthcare
& IT are looking weak & could underperform.
Markets expected to open down following the negative global cues, but could recover from the lows during the day
The
Indian Markets consolidated on Thursday with BSE Sensex closing at
14355.8, up by 0.5% over Wednesday’s close. The Nifty opened flat and
remained range bound through the entire session. It made an intra-day
high of 4342 during the day but faced resistance at those levels. In
the end, it managed to close at 4332.2, up by 0.5% over Wednesday’s
close. The NSE cash turnover stood at Rs. 15387 crores in comparison to
Rs. 12734 crores on Wednesday. The market breadth was neutral on BSE
with the advance-decline ratio of nearly 1:1. Among the sectoral
indices, Metals & Oil & gas were the major gainers, which
increased by 1.7% & 1.2% respectively. However, Healthcare was an
underperformer, which decreased by 1.1%.
The U.S. markets ended
on a weak note on Thursday, led by Exxon Mobil after its earnings fell
short of Wall Street's expectations & as disappointing economic
data revived fears of a U.S. recession. Dow Jones & Nasdaq
decreased by 1.8% & 0.2%. The Indian ADRs ended in the red except
Infosys & Wipro, which increased by 0.7% & 1.1% respectively.
Satyam decreased by 1.6%, while Dr. Reddy’s fell by 3%. HDFC Bank was
down by 2.5%. Tata Communications & MTNL closed down by 2.7% &
3.7% respectively. Among the Latin American markets, the Mexican market
increased by 0.1%, while Brazilian market decreased by 0.8%. Among the
metal prices, Aluminium & Copper increased by 0.7% & 2.7%
respectively, while Zinc & Nickel increased by 2.6% & 2.3%
respectively. The light crude oil for August decreased by 2.1% to
settle at $124.1 a barrel. Today, the Asian Markets are trading down
with Nikkei & Hang Seng trading down by 2% each, while Shanghai
index is trading down by 1.3%.
On Wednesday, the FIIs were net
sellers of Rs. 392 crores in the cash market, while they were net
buyers of Rs. 1936 crores in the F&O Markets.
Mutual Funds were
net buyers of Rs. 690 crores. As per the provisional figures, FIIs were
net buyers of Rs. 495 crores in the cash market on Thursday, while they
were net buyers of Rs. 1557 crores in the F&O markets.
Today,
we expect the Markets to open down following the negative global cues.
However, it could recover from the lows during the day. Among the
indices, Metals & Oil & Gas are looking good, while Healthcare
& IT are looking weak & could underperform.
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