19 Aug 2008 | 10:05
Markets expected to open on a weak note following negative global cues, but could seek support at lower levels
The
Indian Markets closed on a weak note on Monday with the BSE Sensex
closing at 14,645.7, down by 0.5% over Thursday’s close. After opening
down, the Nifty recovered well, but couldn’t sustain at higher levels
for long. It witnessed selling pressure & corrected through the
day. It tried to recover but slipped again towards the end, closing on
a weak note at 4393.1, down by 0.9% over Thursday’s close. The NSE cash
turnover stood at Rs. 9357 crores in comparison to Rs. 11,019 crores on
Thursday. The market breadth was negative on BSE with the
advance-decline ratio of 0.6:1. Among the sectoral indices, only IT
closed in the positive, up by 0.8%. However, Oil & Gas & Metals
underperformed the most, falling by 2% & 1.8% respectively,
On
Monday, the U.S. markets closed down on account of credit concerns. Dow
Jones & Nasdaq fell by 1.6% & 1.5% respectively. The Indian
ADRs ended
lower with Infosys, Wipro & Satyam falling by 1.8%, 1.5% & 1.3%
respectively.
MTNL fell by 5.1%, while ICICI & HDFC bank decreased 4% & 2.3%.
Among the Latin American markets, the Mexican market decreased by 2.1%,
while Brazilian market fell by 1.7%. Among the metal prices, Aluminium
& Copper increased by 0.4% & 1.8% respectively, while Nickel
decreased by 1.9%. The light crude oil for September fell by 0.8% to
settle at $112.87 a barrel. Today, the Asian Markets are trading in the
red with Nikkei down by 2.7%, while Hang Seng and Straits Times are
trading down by 0.8% each.
On Thursday, the FIIs were net
sellers of Rs. 396.3 crores in the cash market, while they were net
sellers of Rs. 676. crores in the F&O markets.
As per the
provisional figures, FIIs were net sellers of Rs. 476 crores in the
cash market on Monday, while they were net buyers of Rs. 430 crores in
the F&O markets.
Today, we expect the Markets to open down following negative global cues.
However,
it could seek support at lower levels. Among the indices, IT is looking
good, while Oil & Gas look weak & could underperform.Visit site at – http://investorline.co.in/
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Markets expected to open on a weak note following negative global cues, but could seek support at lower levels
The
Indian Markets closed on a weak note on Monday with the BSE Sensex
closing at 14,645.7, down by 0.5% over Thursday’s close. After opening
down, the Nifty recovered well, but couldn’t sustain at higher levels
for long. It witnessed selling pressure & corrected through the
day. It tried to recover but slipped again towards the end, closing on
a weak note at 4393.1, down by 0.9% over Thursday’s close. The NSE cash
turnover stood at Rs. 9357 crores in comparison to Rs. 11,019 crores on
Thursday. The market breadth was negative on BSE with the
advance-decline ratio of 0.6:1. Among the sectoral indices, only IT
closed in the positive, up by 0.8%. However, Oil & Gas & Metals
underperformed the most, falling by 2% & 1.8% respectively,
On
Monday, the U.S. markets closed down on account of credit concerns. Dow
Jones & Nasdaq fell by 1.6% & 1.5% respectively. The Indian
ADRs ended
lower with Infosys, Wipro & Satyam falling by 1.8%, 1.5% & 1.3%
respectively.
MTNL fell by 5.1%, while ICICI & HDFC bank decreased 4% & 2.3%.
Among the Latin American markets, the Mexican market decreased by 2.1%,
while Brazilian market fell by 1.7%. Among the metal prices, Aluminium
& Copper increased by 0.4% & 1.8% respectively, while Nickel
decreased by 1.9%. The light crude oil for September fell by 0.8% to
settle at $112.87 a barrel. Today, the Asian Markets are trading in the
red with Nikkei down by 2.7%, while Hang Seng and Straits Times are
trading down by 0.8% each.
On Thursday, the FIIs were net
sellers of Rs. 396.3 crores in the cash market, while they were net
sellers of Rs. 676. crores in the F&O markets.
As per the
provisional figures, FIIs were net sellers of Rs. 476 crores in the
cash market on Monday, while they were net buyers of Rs. 430 crores in
the F&O markets.
Today, we expect the Markets to open down following negative global cues.
However,
it could seek support at lower levels. Among the indices, IT is looking
good, while Oil & Gas look weak & could underperform.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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