01 Sep 2008 | 10:05
Markets expected to open down following weak global cues, but could recover partially from the lows during the day
The
Indian Markets closed on a strong note on Friday with the BSE Sensex
closing at 14564.5, up by 3.7% over Thursday’s close. After a gap up
opening, the Nifty continued to show strength through the day. It made
an intra-day high of 4368.8 towards the end before closing at 4360, up
by 3.5% over Thursday’s close. The NSE cash turnover stood at Rs. 10626
crores in comparison to Rs. 13070 crores on Thursday. The market
breadth was positive on BSE with the advance-decline ratio of 2:1. All
the sectoral indices closed in the green with Banks, Realty & PSUs
being the major gainers, increasing by 6.3%, 5.1% & 3.7%
respectively.
U.S. stocks tumbled on Friday, led lower by tech
shares after computer maker Dell warned that companies worldwide are
cutting back on technology spending. Dow Jones & Nasdaq decreased
by 1.5% & 1.8% respectively. The Indian ADRs ended on a mix note
with Infosys decreasing by 0.3%, while Satyam closed up by 2.6%. Dr.
Reddy’s & Tata Communications increased by 1.6% each, while HDFC
Bank was down by 0.4%. Among the Latin American markets, the Mexican
& Brazilian markets decreased by 0.6% & 1.2% respectively.
Among the Metal prices, Aluminium & Nickel decreased by 0.7%
& 1.8% respectively, while Copper & Zinc decreased by 3% & 1.2%
respectively.
The light crude oil for October decreased marginally by 0.1% to settle
at $115.46 a barrel. Today, the Asian Markets are trading on a weak
note with Nikkei, Shanghai & Singapore trading down by 1.4%, 2.6%%
& 1.1% respectively, while Hang Seng is trading down by 1.8%.
On
Thursday, the FIIs were net buyers of Rs. 144 crores in the cash
markets, while Mutual Funds were net sellers of Rs. 58.6 crores in the
F&O Markets. As per the provisional figures, FIIs were net sellers
of Rs. 365 crores in the cash market on Friday, while they were net
buyers of Rs. 1586 crores in the F&O markets.
Today, we expect the Markets to open down following weak global cues.
However, it could recover partially from lower levels during the day.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 expected to open down following weak global cues, but could recover partially from the lows during the day
The
Indian Markets closed on a strong note on Friday with the BSE Sensex
closing at 14564.5, up by 3.7% over Thursday’s close. After a gap up
opening, the Nifty continued to show strength through the day. It made
an intra-day high of 4368.8 towards the end before closing at 4360, up
by 3.5% over Thursday’s close. The NSE cash turnover stood at Rs. 10626
crores in comparison to Rs. 13070 crores on Thursday. The market
breadth was positive on BSE with the advance-decline ratio of 2:1. All
the sectoral indices closed in the green with Banks, Realty & PSUs
being the major gainers, increasing by 6.3%, 5.1% & 3.7%
respectively.
U.S. stocks tumbled on Friday, led lower by tech
shares after computer maker Dell warned that companies worldwide are
cutting back on technology spending. Dow Jones & Nasdaq decreased
by 1.5% & 1.8% respectively. The Indian ADRs ended on a mix note
with Infosys decreasing by 0.3%, while Satyam closed up by 2.6%. Dr.
Reddy’s & Tata Communications increased by 1.6% each, while HDFC
Bank was down by 0.4%. Among the Latin American markets, the Mexican
& Brazilian markets decreased by 0.6% & 1.2% respectively.
Among the Metal prices, Aluminium & Nickel decreased by 0.7%
& 1.8% respectively, while Copper & Zinc decreased by 3% & 1.2%
respectively.
The light crude oil for October decreased marginally by 0.1% to settle
at $115.46 a barrel. Today, the Asian Markets are trading on a weak
note with Nikkei, Shanghai & Singapore trading down by 1.4%, 2.6%%
& 1.1% respectively, while Hang Seng is trading down by 1.8%.
On
Thursday, the FIIs were net buyers of Rs. 144 crores in the cash
markets, while Mutual Funds were net sellers of Rs. 58.6 crores in the
F&O Markets. As per the provisional figures, FIIs were net sellers
of Rs. 365 crores in the cash market on Friday, while they were net
buyers of Rs. 1586 crores in the F&O markets.
Today, we expect the Markets to open down following weak global cues.
However, it could recover partially from lower levels during the day.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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