27 Jun 2008 | 10:16
Markets
expected to open on a weak note following negative global cues &
take further direction from weekly inflation data today
On
Thursday, the Indian Markets closed on a positive note amidst a highly
volatile session. The BSE Sensex closed at 14421.8, up by 1.4% over
Wednesday's close. After opening marginally up, the Nifty remained weak
& volatile through the entire session. However, it gained strength
in the last hour of trade, making an intra-day high of 4325.75 before
closing on a strong note at 4315.9, up by 1.5% over Wednesday's close.
The NSE cash turnover stood at Rs. 15803 crores in comparison to Rs.
12331 crores on Wednesday. The market breadth was positive on BSE with
the advance-decline ratio of nearly 3:2. Among the sectoral indices,
Oil & Gas & IT were the major gainers, which increased by 2.8%
& 2.1% respectively. However, Realty & Consumer Durables
indices fell the most by 2% & 0.4% respectively.
U.S.
markets plunged on Thursday, with the Dow sliding about 360 points to a
21-month low as oil hit a record & Goldman Sachs urged investors to
sell bank & automaker shares, escalating concern about the outlook
for profits. Dow Jones closed down by 3%, while Nasdaq fell by 3.3%.
The Indian ADRs ended in the red with Infosys, Wipro & Satyam
decreasing by 3.9%, 5.2% & 6.1% respectively. ICICI & HDFC Bank
fell by 5.1% & 5.5% respectively. However, Tata Communication
increased marginally by 0.1%. Among the Latin American markets, the
Mexican market decreased by 1.3%, while Brazilian market closed down by
2.9%. Among the metal prices, Aluminium decreased by 0.4%, while
Copper, Zinc & Nickel increased by 0.2%, 0.9% & 2.1%
respectively. The light crude oil for August increased by 3.8% to
settle at $139.64 a barrel. Today, the Asian Markets are trading on a
weak note with Nikkei & Hang Seng trading down by 2.2% each.
However Shanghai is down by 4.3%.
On Wednesday, the FIIs were
net sellers of Rs. 103 crores in the cash market, while Mutual Funds
were net buyers of Rs. 325 crores. As per the provisional figures, FIIs
were net sellers of Rs. 667 crores in the cash market on Thursday,
while they were net buyers of Rs. 919 crores in the F&O markets.
Today,
we expect the Markets to open down & remain weak through the day
following negative global cues. Weekly Inflation data expected to be
released around noon could halt / amplify the bearishness
Markets
expected to open on a weak note following negative global cues &
take further direction from weekly inflation data today
On
Thursday, the Indian Markets closed on a positive note amidst a highly
volatile session. The BSE Sensex closed at 14421.8, up by 1.4% over
Wednesday's close. After opening marginally up, the Nifty remained weak
& volatile through the entire session. However, it gained strength
in the last hour of trade, making an intra-day high of 4325.75 before
closing on a strong note at 4315.9, up by 1.5% over Wednesday's close.
The NSE cash turnover stood at Rs. 15803 crores in comparison to Rs.
12331 crores on Wednesday. The market breadth was positive on BSE with
the advance-decline ratio of nearly 3:2. Among the sectoral indices,
Oil & Gas & IT were the major gainers, which increased by 2.8%
& 2.1% respectively. However, Realty & Consumer Durables
indices fell the most by 2% & 0.4% respectively.
U.S.
markets plunged on Thursday, with the Dow sliding about 360 points to a
21-month low as oil hit a record & Goldman Sachs urged investors to
sell bank & automaker shares, escalating concern about the outlook
for profits. Dow Jones closed down by 3%, while Nasdaq fell by 3.3%.
The Indian ADRs ended in the red with Infosys, Wipro & Satyam
decreasing by 3.9%, 5.2% & 6.1% respectively. ICICI & HDFC Bank
fell by 5.1% & 5.5% respectively. However, Tata Communication
increased marginally by 0.1%. Among the Latin American markets, the
Mexican market decreased by 1.3%, while Brazilian market closed down by
2.9%. Among the metal prices, Aluminium decreased by 0.4%, while
Copper, Zinc & Nickel increased by 0.2%, 0.9% & 2.1%
respectively. The light crude oil for August increased by 3.8% to
settle at $139.64 a barrel. Today, the Asian Markets are trading on a
weak note with Nikkei & Hang Seng trading down by 2.2% each.
However Shanghai is down by 4.3%.
On Wednesday, the FIIs were
net sellers of Rs. 103 crores in the cash market, while Mutual Funds
were net buyers of Rs. 325 crores. As per the provisional figures, FIIs
were net sellers of Rs. 667 crores in the cash market on Thursday,
while they were net buyers of Rs. 919 crores in the F&O markets.
Today,
we expect the Markets to open down & remain weak through the day
following negative global cues. Weekly Inflation data expected to be
released around noon could halt / amplify the bearishness
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