11 Aug 2008 | 10:07
Markets expected to open gap up following positive global cues, but could witness intra-day profit taking at higher levels
On
Friday, the Indian Markets recovered from the lows to close marginally
in the positive. The BSE Sensex closed at 15167.8, up by 0.3% over
Thursday’s close. After opening flat, the Nifty witness selling
pressure & corrected to make an intra-day low of 4464. However, it
recovered well from those levels & ended marginally in the positive
by 0.1% at 4529.5. The NSE cash turnover stood at Rs. 12533 crores in
comparison to Rs. 13057 crores on Thursday. The market breadth was
neutral on BSE with the advance-decline ratio of 1:1. Among the
sectoral indices, Metals, Banks & Capital Goods were the major
gainers, which increased by 1.7%, 1.5% & 1.4% respectively.
However, IT & Realty decreased by 1.7% & 1.3% respectively.
On
Friday, The U.S. markets rallied on account of decline in the oil
prices. Dow Jones & Nasdaq increased by 2.7% & 2.5%
respectively. The Indian ADRs ended in the green with Infosys, Wipro
& Satyam increasing by 1.5%, 0.1% & 1.1% respectively. Dr.
Reddy’s was up by 3%, while ICICI & HDFC Bank increased by 8% &
5.5% respectively. However, Tata Communications decreased by 5%. Among
the Latin American markets, the Mexican market increased by 0.5%, while
Brazilian market decreased by 0.8%. Among the metal prices, Aluminium
& Nickel decreased by 1.9% & 3.3% respectively, while Copper
& Zinc decreased by 2.3% & 3.2% respectively. The light crude
oil for September decreased by 4% to settle at $115.2 a barrel. Today,
the Asian Markets are trading on a mix note with Nikkei & Hang Seng
index trading up by 1.7% & 1.4% respectively. However, Shanghai is
trading down by 1.5%.
On Thursday, the FIIs were net sellers of
Rs. 19 crores in the cash market, while they were net sellers of Rs.
226 crores in the F&O Markets. Mutual Funds were net sellers of Rs.
22 crores. As per the provisional figures, FIIs were net sellers of Rs.
142 crores in the cash market on Friday, while they were net sellers of
Rs. 774 crores in the F&O markets.
Today, we expect the Markets to open gap up following positive global cues.
However,
it could witness intra-day profit taking at higher levels. Among the
indices Banks, Capital Goods, Metals, FMCG & IT are looking good
& could outperform.
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Markets expected to open gap up following positive global cues, but could witness intra-day profit taking at higher levels
On
Friday, the Indian Markets recovered from the lows to close marginally
in the positive. The BSE Sensex closed at 15167.8, up by 0.3% over
Thursday’s close. After opening flat, the Nifty witness selling
pressure & corrected to make an intra-day low of 4464. However, it
recovered well from those levels & ended marginally in the positive
by 0.1% at 4529.5. The NSE cash turnover stood at Rs. 12533 crores in
comparison to Rs. 13057 crores on Thursday. The market breadth was
neutral on BSE with the advance-decline ratio of 1:1. Among the
sectoral indices, Metals, Banks & Capital Goods were the major
gainers, which increased by 1.7%, 1.5% & 1.4% respectively.
However, IT & Realty decreased by 1.7% & 1.3% respectively.
On
Friday, The U.S. markets rallied on account of decline in the oil
prices. Dow Jones & Nasdaq increased by 2.7% & 2.5%
respectively. The Indian ADRs ended in the green with Infosys, Wipro
& Satyam increasing by 1.5%, 0.1% & 1.1% respectively. Dr.
Reddy’s was up by 3%, while ICICI & HDFC Bank increased by 8% &
5.5% respectively. However, Tata Communications decreased by 5%. Among
the Latin American markets, the Mexican market increased by 0.5%, while
Brazilian market decreased by 0.8%. Among the metal prices, Aluminium
& Nickel decreased by 1.9% & 3.3% respectively, while Copper
& Zinc decreased by 2.3% & 3.2% respectively. The light crude
oil for September decreased by 4% to settle at $115.2 a barrel. Today,
the Asian Markets are trading on a mix note with Nikkei & Hang Seng
index trading up by 1.7% & 1.4% respectively. However, Shanghai is
trading down by 1.5%.
On Thursday, the FIIs were net sellers of
Rs. 19 crores in the cash market, while they were net sellers of Rs.
226 crores in the F&O Markets. Mutual Funds were net sellers of Rs.
22 crores. As per the provisional figures, FIIs were net sellers of Rs.
142 crores in the cash market on Friday, while they were net sellers of
Rs. 774 crores in the F&O markets.
Today, we expect the Markets to open gap up following positive global cues.
However,
it could witness intra-day profit taking at higher levels. Among the
indices Banks, Capital Goods, Metals, FMCG & IT are looking good
& could outperform.
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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