01 Jul 2008 | 10:45
Markets expected to open on a weak note & remain volatile through the day
On
Monday, the Indian Markets opened on a flat note and tried to edge
higher but soon slipped into the red. The BSE Index closed on a weak
note at 13461.6, down by 2.5% over Friday's close. The Nifty continued
to slide downwards all through the day and made a low of 4021.70. It
finally managed to close marginally higher than the low of the day at
4040.55, down by 2.3% over Friday's close. The NSE cash turnover stood
at Rs. 11451 crores in comparison to Rs. 12728 crores on Friday. The
market breadth was negative on BSE with the advance-decline ratio of
nearly 1:4. Among the sectoral indices, Oil & Gas, Consumer
Durables and Realty were the major losers, which fell by 4%, 4.7% &
6.8% respectively.
The U.S. markets ended on a flattish note on
Monday. While the Dow ended up 0.3% at 11350, the Nasdaq was down 0.98%
at 2293. The final trading day of the second quarter ended little
changed as record oil boosted energy shares, offsetting weak financial
stocks amid nagging concerns of further credit losses. The Indian ADRs
closed on a mix note with Infosys & Wipro closing up 1% and 1.42%
respectively while Satyam fell by 1.88%. ICICI Bank was down 3.03% and
HDFC Bank was higher by 0.14%. Tata Communications was up 1.94% and
MTNL was down 0.23%. Among the Latin American markets, the Mexican
market increased by 0.3%, while Brazilian market closed up by 1.1%.
Among the metal prices, Aluminium & Copper increased by 0.6% &
1% respectively, while Zinc & Nickel decreased by 1.8% & 0.2%
respectively. The light crude oil for August decreased marginally by
0.1% to settle at $140 a barrel. Today, the Asian Markets are trading
on a mix note with Nikkei trading up by 0.3%, while Shanghai is trading
down by 1.8%. Other markets like Kospi & Singapore Strait are also
trading down by 1.2% & 0.2% respectively.
On Friday, the
FIIs were net sellers of Rs. 746 crores in the cash market, while they
were net sellers of Rs. 63 crores. Mutual Funds were net buyers of Rs.
4 crores. As per the provisional figures, FIIs were net sellers of Rs.
208 crores in the cash market on Monday, while they were net sellers of
Rs. 414 crores in the F&O markets.
Today, we expect the
Markets to open on a weak note & remain volatile through the day.
Among the sectors, Realty & Consumer Durables are looking very
weak, while IT, FMCG & Healthcare could do well.
Markets expected to open on a weak note & remain volatile through the day
On
Monday, the Indian Markets opened on a flat note and tried to edge
higher but soon slipped into the red. The BSE Index closed on a weak
note at 13461.6, down by 2.5% over Friday's close. The Nifty continued
to slide downwards all through the day and made a low of 4021.70. It
finally managed to close marginally higher than the low of the day at
4040.55, down by 2.3% over Friday's close. The NSE cash turnover stood
at Rs. 11451 crores in comparison to Rs. 12728 crores on Friday. The
market breadth was negative on BSE with the advance-decline ratio of
nearly 1:4. Among the sectoral indices, Oil & Gas, Consumer
Durables and Realty were the major losers, which fell by 4%, 4.7% &
6.8% respectively.
The U.S. markets ended on a flattish note on
Monday. While the Dow ended up 0.3% at 11350, the Nasdaq was down 0.98%
at 2293. The final trading day of the second quarter ended little
changed as record oil boosted energy shares, offsetting weak financial
stocks amid nagging concerns of further credit losses. The Indian ADRs
closed on a mix note with Infosys & Wipro closing up 1% and 1.42%
respectively while Satyam fell by 1.88%. ICICI Bank was down 3.03% and
HDFC Bank was higher by 0.14%. Tata Communications was up 1.94% and
MTNL was down 0.23%. Among the Latin American markets, the Mexican
market increased by 0.3%, while Brazilian market closed up by 1.1%.
Among the metal prices, Aluminium & Copper increased by 0.6% &
1% respectively, while Zinc & Nickel decreased by 1.8% & 0.2%
respectively. The light crude oil for August decreased marginally by
0.1% to settle at $140 a barrel. Today, the Asian Markets are trading
on a mix note with Nikkei trading up by 0.3%, while Shanghai is trading
down by 1.8%. Other markets like Kospi & Singapore Strait are also
trading down by 1.2% & 0.2% respectively.
On Friday, the
FIIs were net sellers of Rs. 746 crores in the cash market, while they
were net sellers of Rs. 63 crores. Mutual Funds were net buyers of Rs.
4 crores. As per the provisional figures, FIIs were net sellers of Rs.
208 crores in the cash market on Monday, while they were net sellers of
Rs. 414 crores in the F&O markets.
Today, we expect the
Markets to open on a weak note & remain volatile through the day.
Among the sectors, Realty & Consumer Durables are looking very
weak, while IT, FMCG & Healthcare could do well.
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