05 Aug 2008 | 10:00
Markets expected to open flat to down, but could recover later during the day
The
Indian Markets witnessed a minor correction on Monday, as the BSE
Sensex closed at 14577.9, down by 0.5% over Friday’s close. After
opening flat & making an intra-day high of 4436.1, the Nifty showed
signs of weakness & entered the negative terrain. It made an
intra-day low of 4362.9, but recovered well from those levels to close
at 4395.4, down by 0.4% over Friday’s close. The NSE cash turnover
stood at Rs. 13532 crores in comparison to Rs. 15705 crores on Friday.
The market breadth was positive on BSE with the advance-decline ratio
of nearly 1:0.4. Among the sectoral indices, Consumer Durables &
Metals indices outperformed,
increasing by 3.9% & 2.1%
respectively. However, FMCG & Auto indices underperformed,
decreasing by 0.9% & 0.2% respectively.
The U.S. markets
fell on Monday as shares of energy & commodity-related companies
tumbled on falling oil and metals prices and investors worried the
housing slump could fuel further losses at financial companies. Dow
Jones & Nasdaq decreased by 0.4% & 1.1%. The Indian ADRs ended
in the red with Infosys, Wipro & Satyam decreasing by 2.2%, 5.4%
& 1.6% respectively.
Tata Motors went down by 2.7%, while ICICI
Bank closed down by 3.5% respectively. Tata Communications decreased by
3.7%. However, MTNL was up by 1%. Among the Latin American markets, the
Mexican market decreased by 1.8%, while Brazilian market decreased by
3.5%. Among the metal prices, Aluminium & Copper decreased by 1%
& 1.9% respectively, while Zinc & Nickel decreased by 2.8%
& 6% respectively. The light crude oil for September decreased by
2.9% to settle at $121.4 a barrel. Today, the Asian Markets are trading
mix with Nikkei index trading up by 0.3%, while Hang Seng is trading
down by 1.6%. Shanghai index is trading down marginally by 0.1%.
On
Friday, the FIIs were net sellers of Rs. 342 crores in the cash market,
while Mutual Funds were net buyers of Rs. 226 crores. As per the
provisional figures, FIIs were net sellers of Rs. 508 crores in the
cash market on Monday, while they were net sellers of Rs. 632 crores in
the F&O markets.
Today, we expect the Markets to open flat
to down following negative global cues. However, it could bounce back
later during the day. Among the indices, IT, Capital Goods & Power
indices are looking weak, while Consumer Durable, Metals &
Healthcare indices are looking good & could outperform.
Markets expected to open flat to down, but could recover later during the day
The
Indian Markets witnessed a minor correction on Monday, as the BSE
Sensex closed at 14577.9, down by 0.5% over Friday’s close. After
opening flat & making an intra-day high of 4436.1, the Nifty showed
signs of weakness & entered the negative terrain. It made an
intra-day low of 4362.9, but recovered well from those levels to close
at 4395.4, down by 0.4% over Friday’s close. The NSE cash turnover
stood at Rs. 13532 crores in comparison to Rs. 15705 crores on Friday.
The market breadth was positive on BSE with the advance-decline ratio
of nearly 1:0.4. Among the sectoral indices, Consumer Durables &
Metals indices outperformed,
increasing by 3.9% & 2.1%
respectively. However, FMCG & Auto indices underperformed,
decreasing by 0.9% & 0.2% respectively.
The U.S. markets
fell on Monday as shares of energy & commodity-related companies
tumbled on falling oil and metals prices and investors worried the
housing slump could fuel further losses at financial companies. Dow
Jones & Nasdaq decreased by 0.4% & 1.1%. The Indian ADRs ended
in the red with Infosys, Wipro & Satyam decreasing by 2.2%, 5.4%
& 1.6% respectively.
Tata Motors went down by 2.7%, while ICICI
Bank closed down by 3.5% respectively. Tata Communications decreased by
3.7%. However, MTNL was up by 1%. Among the Latin American markets, the
Mexican market decreased by 1.8%, while Brazilian market decreased by
3.5%. Among the metal prices, Aluminium & Copper decreased by 1%
& 1.9% respectively, while Zinc & Nickel decreased by 2.8%
& 6% respectively. The light crude oil for September decreased by
2.9% to settle at $121.4 a barrel. Today, the Asian Markets are trading
mix with Nikkei index trading up by 0.3%, while Hang Seng is trading
down by 1.6%. Shanghai index is trading down marginally by 0.1%.
On
Friday, the FIIs were net sellers of Rs. 342 crores in the cash market,
while Mutual Funds were net buyers of Rs. 226 crores. As per the
provisional figures, FIIs were net sellers of Rs. 508 crores in the
cash market on Monday, while they were net sellers of Rs. 632 crores in
the F&O markets.
Today, we expect the Markets to open flat
to down following negative global cues. However, it could bounce back
later during the day. Among the indices, IT, Capital Goods & Power
indices are looking weak, while Consumer Durable, Metals &
Healthcare indices are looking good & could outperform.
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