07 Aug 2008 | 10:06
Markets expected to open flat to down & remain volatile ahead of weekly inflation data due today
After
opening on a strong note on Wednesday, the Indian Markets witnessed
huge selling pressure towards the end, thus giving up almost all its
gains & closed marginally in the positive. The BSE Sensex corrected
from a high of 15422.8 to close at 15073.5, up by 0.75% over Tuesday’s
close. The Nifty opened gap up & made an intra-day high of 4615.9
in the early hour of trade. It continued to show strength through the
day, but in the last hour of trade, it witnessed huge sell off &
managed to close only marginally up by 0.3% at 4517.6. The NSE cash
turnover stood at Rs. 18615 crores in comparison to Rs. 17293 crores on
Tuesday. The market breadth was neutral on BSE with the advance-decline
ratio of close to 1:1. Among the sectoral indices, Auto, Capital Goods
& TECk indices were the outperformers, increasing by 2.6%, 1.7%
& 1.5% respectively. However, Metals & PSUs underperformed,
falling by 3.1% & 1.2% respectively.
The U.S. markets ended
higher on Wednesday, as a further drop in oil prices & a reassuring
outlook from Cisco overshadowed persistent credit concerns.
Dow
Jones & Nasdaq increased by 0.4% & 1.3% respectively. The
Indian ADRs ended in the green with Infosys, Wipro & Satyam
increasing by 2.8%, 3.7% & 2.6% respectively. Tata Communications
increased by 3.8%. However, HDFC Bank decreased marginally by 0.1%.
Among the Latin American markets, the Mexican market increased by 1.3%,
while Brazilian market increased by 1.9%.
Among the metal prices,
Aluminium & Copper increased by 1.2% & 1.3% respectively, while
Zinc & Nickel increased by 0.1% each. The light crude oil for
September decreased by 0.4% to settle at $118.58 a barrel. Today, the
Asian Markets are trading on a mix note with Nikkei & Shanghai
index trading down by 1.2% & 0.4% respectively. However Hang Seng
is trading up by 0.6%.
On Tuesday, the FIIs were net buyers of
Rs. 64 crores in the cash market, while they were net buyers of Rs. 222
crores in the F&O Markets. Mutual Funds were net buyers of Rs. 198
crores. As per the provisional figures, FIIs were net buyers of Rs.
1816 crores in the cash market on Wednesday, while they were net buyers
of Rs. 2364 crores in the F&O markets.
Today, we expect the
Markets to open flat to down & remain volatile ahead of weekly
inflation data due today. Among the indices, Auto, Capital Good &
IT index could do well, while Metals & PSUs are looking weak.
Markets expected to open flat to down & remain volatile ahead of weekly inflation data due today
After
opening on a strong note on Wednesday, the Indian Markets witnessed
huge selling pressure towards the end, thus giving up almost all its
gains & closed marginally in the positive. The BSE Sensex corrected
from a high of 15422.8 to close at 15073.5, up by 0.75% over Tuesday’s
close. The Nifty opened gap up & made an intra-day high of 4615.9
in the early hour of trade. It continued to show strength through the
day, but in the last hour of trade, it witnessed huge sell off &
managed to close only marginally up by 0.3% at 4517.6. The NSE cash
turnover stood at Rs. 18615 crores in comparison to Rs. 17293 crores on
Tuesday. The market breadth was neutral on BSE with the advance-decline
ratio of close to 1:1. Among the sectoral indices, Auto, Capital Goods
& TECk indices were the outperformers, increasing by 2.6%, 1.7%
& 1.5% respectively. However, Metals & PSUs underperformed,
falling by 3.1% & 1.2% respectively.
The U.S. markets ended
higher on Wednesday, as a further drop in oil prices & a reassuring
outlook from Cisco overshadowed persistent credit concerns.
Dow
Jones & Nasdaq increased by 0.4% & 1.3% respectively. The
Indian ADRs ended in the green with Infosys, Wipro & Satyam
increasing by 2.8%, 3.7% & 2.6% respectively. Tata Communications
increased by 3.8%. However, HDFC Bank decreased marginally by 0.1%.
Among the Latin American markets, the Mexican market increased by 1.3%,
while Brazilian market increased by 1.9%.
Among the metal prices,
Aluminium & Copper increased by 1.2% & 1.3% respectively, while
Zinc & Nickel increased by 0.1% each. The light crude oil for
September decreased by 0.4% to settle at $118.58 a barrel. Today, the
Asian Markets are trading on a mix note with Nikkei & Shanghai
index trading down by 1.2% & 0.4% respectively. However Hang Seng
is trading up by 0.6%.
On Tuesday, the FIIs were net buyers of
Rs. 64 crores in the cash market, while they were net buyers of Rs. 222
crores in the F&O Markets. Mutual Funds were net buyers of Rs. 198
crores. As per the provisional figures, FIIs were net buyers of Rs.
1816 crores in the cash market on Wednesday, while they were net buyers
of Rs. 2364 crores in the F&O markets.
Today, we expect the
Markets to open flat to down & remain volatile ahead of weekly
inflation data due today. Among the indices, Auto, Capital Good &
IT index could do well, while Metals & PSUs are looking weak.
0 comments:
Post a Comment