30 Jun 2008 | 10:50
Markets expected to open flat to down & try to recover during the day
On
Friday, the Indian Markets witnessed a sharp correction with BSE Sensex
closing deep in the red at 13802, down by 4.3% over Thursday's close.
After opening gap down, the Nifty remained weak & volatile through
the day. It did try to bounce back post the inflation data, but
couldn't sustain as the bears continued to dominate the session and
pulled the Nifty down to an intra-day low of 4119.2 before it managed
to close at 4136.7, down by 4.2% over Thursday's close. The NSE cash
turnover stood at Rs. 12728 crores in comparison to Rs. 15803 crores on
Thursday. The market breadth was positive on BSE with the
advance-decline ratio of nearly 0.3:1. Among the sectoral indices,
Banks, Auto & Power indices were the major losers, which fell by
5.3%, 5.2% & 4.9% respectively.
The U.S. markets ended lower
on Friday with the Dow Jones closing down by 0.9%, while Nasdaq fell by
0.3%. The Indian ADRs closed on a mix note with Infosys, Wipro &
Satyam increasing by 1%, 0.2% & 2.5% respectively. Tata Motors
& ICICI Bank fell by 6.5% & 4.3% respectively. MTNL decreased
by 4%. Among the Latin American markets, the Mexican market increased
by 0.3%, while Brazilian market closed up by 0.6%. Among the metal
prices, Aluminium, Copper & Zinc increased by 0.9%, 1.3% & 2%
respectively, while Nickel decreased by 1.4%. The light crude oil for
August increased by 0.4% to settle at $140.2 a barrel. Today, the Asian
Markets are trading on a mix note with Nikkei & Hang Seng trading
marginally up by 0.3% & 0.1% respectively. However Shanghai is
trading down by 0.7%.
On Thursday, the FIIs were net sellers of
Rs. 469 crores in the cash market, while they were net buyers of Rs.
919 crores. Mutual Funds were net buyers of Rs. 276 crores. As per the
provisional figures, FIIs were net sellers of Rs. 703 crores in the
cash market on Friday, while they were net sellers of Rs. 63 crores in
the F&O markets.
Today, we expect the Markets to open flat
to down. However, it could recover from the lows during the day. Among
the indices, FMCG, Healthcare, Oil & gas & IT indices are
looking relatively stronger & could be the first to bounce back if
the market recovers.
Markets expected to open flat to down & try to recover during the day
On
Friday, the Indian Markets witnessed a sharp correction with BSE Sensex
closing deep in the red at 13802, down by 4.3% over Thursday's close.
After opening gap down, the Nifty remained weak & volatile through
the day. It did try to bounce back post the inflation data, but
couldn't sustain as the bears continued to dominate the session and
pulled the Nifty down to an intra-day low of 4119.2 before it managed
to close at 4136.7, down by 4.2% over Thursday's close. The NSE cash
turnover stood at Rs. 12728 crores in comparison to Rs. 15803 crores on
Thursday. The market breadth was positive on BSE with the
advance-decline ratio of nearly 0.3:1. Among the sectoral indices,
Banks, Auto & Power indices were the major losers, which fell by
5.3%, 5.2% & 4.9% respectively.
The U.S. markets ended lower
on Friday with the Dow Jones closing down by 0.9%, while Nasdaq fell by
0.3%. The Indian ADRs closed on a mix note with Infosys, Wipro &
Satyam increasing by 1%, 0.2% & 2.5% respectively. Tata Motors
& ICICI Bank fell by 6.5% & 4.3% respectively. MTNL decreased
by 4%. Among the Latin American markets, the Mexican market increased
by 0.3%, while Brazilian market closed up by 0.6%. Among the metal
prices, Aluminium, Copper & Zinc increased by 0.9%, 1.3% & 2%
respectively, while Nickel decreased by 1.4%. The light crude oil for
August increased by 0.4% to settle at $140.2 a barrel. Today, the Asian
Markets are trading on a mix note with Nikkei & Hang Seng trading
marginally up by 0.3% & 0.1% respectively. However Shanghai is
trading down by 0.7%.
On Thursday, the FIIs were net sellers of
Rs. 469 crores in the cash market, while they were net buyers of Rs.
919 crores. Mutual Funds were net buyers of Rs. 276 crores. As per the
provisional figures, FIIs were net sellers of Rs. 703 crores in the
cash market on Friday, while they were net sellers of Rs. 63 crores in
the F&O markets.
Today, we expect the Markets to open flat
to down. However, it could recover from the lows during the day. Among
the indices, FMCG, Healthcare, Oil & gas & IT indices are
looking relatively stronger & could be the first to bounce back if
the market recovers.
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