26 Jun 2008 | 10:23
Markets
expected to open up following positive global cues & remain
volatile with positive bias due to derivatives expiry today.
On
Wednesday, the Indian Markets recovered sharply from the lows of the
day to end the session on a strong note. The BSE Sensex witnessed an
intra-day swing of 517 points & closed at 14220.1, up by 0.8% over
Tuesday’s close.
After opening gap down & making an intra-day
low of 4093.2 in the early hour of trade, the Nifty bounced back
strongly in the positive. It remained volatile through the day &
gained strength in the last hour of trade, making an intra-day high of
4264.6, before closing at 4252.7, up by 1.5% over Tuesday’s close. The
NSE cash turnover stood at Rs. 12331 crores in comparison to Rs. 11769
crores on Tuesday. The market breadth was neutral on BSE with the
advance-decline ratio of nearly 1:1. Among the sectoral indices, Metals
& Oil & Gas were the major gainers, which increased by 3% &
2.9% respectively. However, IT & FMCG indices underperformed the
most, falling by 1.1% & 0.8% respectively.
The US Markets
ended higher on Wednesday, as the price of oil declined, while the
Federal Reserve held its key interest rate steady & reduced
expectations for a rate hike at its next meeting. Dow Jones closed
marginally up, while Nasdaq closed up by 1.4%. The Indian ADRs ended in
the green with Infosys, Wipro & Satyam increasing by 0.9%, 2.3%
& 1% respectively. Tata Motors & ICICI Bank were up by 2.6%
each, while Tata Communication increased by 3.1%. Among the Latin
American markets, the Mexican market increased by 1%, while Brazilian
market closed up by 2.6%.
Among the metal prices, Copper increased
by 0.4%, while Aluminium, Zinc & Nickel decreased by 0.8% each. The
light crude oil for July decreased by 1.8% to settle at $134.55 a
barrel. Today, the Asian Markets are trading in
the positive with Nikkei & Hang Seng trading up by 0.4% & 0.6%
respectively. However Shanghai is down by 0.8%.
On
Tuesday, the FIIs were net buyers of Rs. 274 crores in the cash market,
while Mutual Funds were net buyers of Rs. 211 crores. As per the
provisional figures, FIIs were net sellers of Rs. 364 crores in the
cash market on Wednesday, while they were net buyers of Rs. 109 crores
in the F&O markets.
Today, we expect the Markets to open up
following positive global cues & remain volatile with positive bias
due to derivatives expiry today. Among the sectoral indices, Metals,
Oil & Gas, FMCG & Healthcare indices could bounce back.Visit site at – http://investorline.co.in/
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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/
Markets
expected to open up following positive global cues & remain
volatile with positive bias due to derivatives expiry today.
On
Wednesday, the Indian Markets recovered sharply from the lows of the
day to end the session on a strong note. The BSE Sensex witnessed an
intra-day swing of 517 points & closed at 14220.1, up by 0.8% over
Tuesday’s close.
After opening gap down & making an intra-day
low of 4093.2 in the early hour of trade, the Nifty bounced back
strongly in the positive. It remained volatile through the day &
gained strength in the last hour of trade, making an intra-day high of
4264.6, before closing at 4252.7, up by 1.5% over Tuesday’s close. The
NSE cash turnover stood at Rs. 12331 crores in comparison to Rs. 11769
crores on Tuesday. The market breadth was neutral on BSE with the
advance-decline ratio of nearly 1:1. Among the sectoral indices, Metals
& Oil & Gas were the major gainers, which increased by 3% &
2.9% respectively. However, IT & FMCG indices underperformed the
most, falling by 1.1% & 0.8% respectively.
The US Markets
ended higher on Wednesday, as the price of oil declined, while the
Federal Reserve held its key interest rate steady & reduced
expectations for a rate hike at its next meeting. Dow Jones closed
marginally up, while Nasdaq closed up by 1.4%. The Indian ADRs ended in
the green with Infosys, Wipro & Satyam increasing by 0.9%, 2.3%
& 1% respectively. Tata Motors & ICICI Bank were up by 2.6%
each, while Tata Communication increased by 3.1%. Among the Latin
American markets, the Mexican market increased by 1%, while Brazilian
market closed up by 2.6%.
Among the metal prices, Copper increased
by 0.4%, while Aluminium, Zinc & Nickel decreased by 0.8% each. The
light crude oil for July decreased by 1.8% to settle at $134.55 a
barrel. Today, the Asian Markets are trading in
the positive with Nikkei & Hang Seng trading up by 0.4% & 0.6%
respectively. However Shanghai is down by 0.8%.
On
Tuesday, the FIIs were net buyers of Rs. 274 crores in the cash market,
while Mutual Funds were net buyers of Rs. 211 crores. As per the
provisional figures, FIIs were net sellers of Rs. 364 crores in the
cash market on Wednesday, while they were net buyers of Rs. 109 crores
in the F&O markets.
Today, we expect the Markets to open up
following positive global cues & remain volatile with positive bias
due to derivatives expiry today. Among the sectoral indices, Metals,
Oil & Gas, FMCG & Healthcare indices could bounce back.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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