08 Aug 2008 | 10:01
Markets expected to open flat to weak following negative global cues & remain volatile in a range through the day
It
was a volatile session on Thursday as the Indian Markets corrected from
the highs to end marginally in the positive. The BSE Sensex slipped
from an intra-day high of 15280.1 to end up marginally by 0.3% at
15117.25. After opening on a weak note, the Nifty recovered well from
the lows & gained strength through the day, making an intra-day
high of 4580.2. However, it couldn’t sustain at those higher levels
& corrected towards the end to close marginally in the positive at
4523.9, up by 0.1% over Wednesday’s close. The NSE cash turnover stood
at Rs. 13057 crores in comparison to Rs.
18615 crores on Wednesday.
The market breadth was marginally positive on BSE with the
advance-decline ratio of 1:0.9. Among the sectoral indices, Consumer
Durables & Autos were the outperformers, which increased by 2.9%
&
1.2% respectively. However, Capital Goods & Power underperformed,
decreasing by 0.7% & 0.5% respectively.
U.S.
stocks tumbled on Thursday after a big loss from insurer American
International Group fueled fears of more fallout from the credit crisis
& Wal-Mart's cautious sales forecast added to concerns about
consumer spending. Dow Jones & Nasdaq decreased by 1.3% & 1%
respectively. The Indian ADRs ended on a mix note with Infosys &
Wipro decreasing by 2.2% & 2.8%, while Satyam increased by 0.1%.
Dr. Reddy’s was up by 2.2%, while ICICI Bank decreased by 4.1%. Tata
Communications increased by 2.7%. Among the Latin American markets, the
Mexican market decreased by 1.3%, while Brazilian market decreased by
0.9%. Among the metal prices, Aluminium & Nickel increased by 0.3%
& 5.5% respectively, while Copper & Zinc decreased by 0.5%
& 0.3% respectively. The light crude oil for September increased by
1.2% to settle at $120 a barrel. Today, the Asian Markets are trading
on a mix note with Nikkei & Shanghai index trading down by 0.5%
each. However Hang Seng is trading up by 0.5%.
On Wednesday, the
FIIs were net buyers of Rs. 1629 crores in the cash market, while
Mutual Funds were net sellers of Rs. 383 crores. As per the provisional
figures, FIIs were net sellers of Rs. 223 crores in the cash market on
Thursday, while they were net sellers of Rs. 226 crores in the F&O
markets.
Today, we expect the Markets to open flat to weak
following negative global cues. It is expected to remain volatile in a
range through the day. Among the indices, Capital Goods & Power
indices are looking weak, while Consumer Durables, FMCG & Auto
indices could do well.
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Markets expected to open flat to weak following negative global cues & remain volatile in a range through the day
It
was a volatile session on Thursday as the Indian Markets corrected from
the highs to end marginally in the positive. The BSE Sensex slipped
from an intra-day high of 15280.1 to end up marginally by 0.3% at
15117.25. After opening on a weak note, the Nifty recovered well from
the lows & gained strength through the day, making an intra-day
high of 4580.2. However, it couldn’t sustain at those higher levels
& corrected towards the end to close marginally in the positive at
4523.9, up by 0.1% over Wednesday’s close. The NSE cash turnover stood
at Rs. 13057 crores in comparison to Rs.
18615 crores on Wednesday.
The market breadth was marginally positive on BSE with the
advance-decline ratio of 1:0.9. Among the sectoral indices, Consumer
Durables & Autos were the outperformers, which increased by 2.9%
&
1.2% respectively. However, Capital Goods & Power underperformed,
decreasing by 0.7% & 0.5% respectively.
U.S.
stocks tumbled on Thursday after a big loss from insurer American
International Group fueled fears of more fallout from the credit crisis
& Wal-Mart's cautious sales forecast added to concerns about
consumer spending. Dow Jones & Nasdaq decreased by 1.3% & 1%
respectively. The Indian ADRs ended on a mix note with Infosys &
Wipro decreasing by 2.2% & 2.8%, while Satyam increased by 0.1%.
Dr. Reddy’s was up by 2.2%, while ICICI Bank decreased by 4.1%. Tata
Communications increased by 2.7%. Among the Latin American markets, the
Mexican market decreased by 1.3%, while Brazilian market decreased by
0.9%. Among the metal prices, Aluminium & Nickel increased by 0.3%
& 5.5% respectively, while Copper & Zinc decreased by 0.5%
& 0.3% respectively. The light crude oil for September increased by
1.2% to settle at $120 a barrel. Today, the Asian Markets are trading
on a mix note with Nikkei & Shanghai index trading down by 0.5%
each. However Hang Seng is trading up by 0.5%.
On Wednesday, the
FIIs were net buyers of Rs. 1629 crores in the cash market, while
Mutual Funds were net sellers of Rs. 383 crores. As per the provisional
figures, FIIs were net sellers of Rs. 223 crores in the cash market on
Thursday, while they were net sellers of Rs. 226 crores in the F&O
markets.
Today, we expect the Markets to open flat to weak
following negative global cues. It is expected to remain volatile in a
range through the day. Among the indices, Capital Goods & Power
indices are looking weak, while Consumer Durables, FMCG & Auto
indices could do well.
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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