Markets end near the highs of the day

05 Aug 2008 | 17:39



Markets end near the highs of the day



The
markets opened on a flat note on Tuesday morning and continued to trade
flat for the first part of the day. Post noon, the markets picked up
momentum and started moving higher to close near the highs of the day.
US crude futures tumbled yesterday, 4 August 2008, as OPEC output rose
for the third month in a row in July, outweighing concerns about
Tropical Storm Edouard. On the New York Mercantile Exchange, September
crude settled down
$3.69 at $121.41 a barrel. There is a Federal
Reserve meeting scheduled after Indian market hours today to decide on
US interest rates. The European markets gained today as a rally in
banks gathered pace following results from Societe Generale and
Standard Chartered and oil fell to a 3-month low.

While the
Sensex closed up 383.20 points or 2.63% at 14,961, the Nifty gained
107.5 points or 2.45% at 4502.85. The broad market indices also ended
higher but to a lesser extent as the BSE Midcap and Smallcap index
gained 1.76% and 1.26% respectively. The market breath was positive, as
A/D ratio was about 2:1 on the BSE. Turnover on the NSE was Rs.17,293.1
crs.
Vs. Rs.13,531.58crs. on Monday.

Barring the BSE Consumer
Durables and Metal index, all the BSE Sectoral indices ended in the
green. The BSE Bankex, Realty and Auto gained 6.65%, 6.56% and 4.1%
respectively. Gainers from the BSE-30 were ICICI Bank, DLF, Maruti
Suzuki, HDFC Bank and Grasim Inds. The only losers from the Sensex pack
included Sterlite Inds, Tata Steel, Tata Power and Ranbaxy Labs.

After
taking a breather yesterday, the markets continued their uptrend by
rallying strongly today. Traders are however advised to avoid buying
aggressively as the main indices are approaching some strong
resistances.
Existing positions may be held on to with trailing stops to protect profits already earned.Visit site at – http://investorline.co.in/
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Markets recover from the lows of the day to end marginally in the positive The Markets opened on a flat note on Friday morning and soon slipped into the red.

08 Aug 2008 | 17:00



Markets
recover from the lows of the day to end marginally in the positive The
Markets opened on a flat note on Friday morning and soon slipped into
the red.



Markets
recover from the lows of the day to end marginally in the positive The
Markets opened on a flat note on Friday morning and soon slipped into
the red. The markets traded weak for most part of the day. However,
they recovered from the lows of the day and ended on a flat note.
Inflation, represented by the wholesale price index (WPI), rose to
12.01% for the week ended 26 July 2008, slightly above the previous
week’s 11.98% rise. The reading was the highest in the last 13 years.
Science and Technology Minister Kapil Sibal today, 8 August 2008, said
the June-September monsoon rains have revived across the country and
are expected to be normal.

While the Sensex closed up 50.57
points or 0.33% at 15,167.82, the Nifty gained 5.65 points or 0.12% at
4529.50. The broad market indices also gained marginally as the BSE
Midcap and Smallcap index gained 0.09% and 0.21% respectively. The
market breath was flat, as A/D ratio was about
0.9:1 on the BSE.

Sectorally,
it was a mixed bag. The BSE Metal, Bankex, Capital Goods and PSU gained
more than 1% each. The BSE Realty and IT indices lost more than 1%
each. Gainers from the BSE-30 were Sterlite, ONGC, ICICI Bank and
L&T.
The losers from the Sensex pack included Grasim, Wipro, Infosys and Jaiprakash Associates.

The
markets seem to be in consolidation mode as they have now been trading
in a narrow range for the last three sessions. The technical trend
nevertheless remains up and we continue with our strategy of holding on
to existing positions with trailing stops to protect profits already
earned.
Fresh positions need to be entered into on a selective basis, preferably on declines.Visit site at – http://investorline.co.in/
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Markets correct after five consecutive sessions of gains

12 Aug 2008 | 18:55



Markets
correct after five consecutive sessions of gains Markets ended sharply
lower on the back of disappointing IIP numbers and negative European
and Asian cues.



Markets
correct after five consecutive sessions of gains Markets ended sharply
lower on the back of disappointing IIP numbers and negative European
and Asian cues. While the Sensex closed at 15,212.13, down 291.79
points or 1.88%, the Nifty lost 68.15 points or 1.47% at 4552.25. Broad
market indices also ended lower as the BSE Midcap and Small Cap indices
lost 0.79% and 0.70% respectively. Market breadth was negative as A/D
ratio was 0.71:1 on the NSE. Turnover on the NSE for Tuesday was
Rs.13,926.59crs. Vs. Rs.12,437.81crs. yesterday.

Barring the
FMCG and Oil and Gas indices, all of the sectoral indices ended lower.
The top losers were the BSE Metals, Bankex, IT, Realty and Consumer
Durables indices. Gainers from the BSE-30 were ITC, Grasim, Mah &
Mah, Reliance and HUL. The major losers from the Sensex pack included
Tata Steel, Maruti, Jaiprakash Associates and Sterlite.

The
markets have at last corrected after five sessions of gains. Though the
short term trend continues to remain up, we recommend a go slow
approach on fresh positions as we remain open to the possibility of the
markets correcting further. Important supports to watch on the Nifty
are at 4500-4450.Visit site at – http://investorline.co.in/
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Markets could open down, following weak global cues, but could recover partially from the lows during the day

14 Aug 2008 | 10:15



Markets could open down, following weak global cues, but could recover partially from the lows during the day



The
Indian Markets closed on a weak note on Wednesday amidst intra-day
volatility with the BSE Sensex closing at 15093, down by 0.8% over
Tuesday’s close. After opening gap down, the Nifty recovered well to
enter the positive terrain, making an intra-day high of 4572.7.
However, it showed signs of weakness at those higher levels &
slipped once again, finally closing on a weak note at 4529.1, down by
0.5% over Tuesday’s close. The NSE cash turnover stood at Rs. 12052
crores in comparison to Rs.
13927 crores on Tuesday. The market
breadth was marginally negative on BSE with the advance-decline ratio
of 0.9:1. Among the sectoral indices, IT & Healthcare outperformed,
increasing by 1.1% each. However, Banks & Realty indices were the
major losers, which fell by 2.2% & 1.3% respectively.

The
U.S. markets fell on Wednesday, as persistent concerns about the credit
crisis hurt bank shares while a rebound in oil prices & weak
outlooks at some retailers raised anxieties about consumer spending.
Dow Jones & Nasdaq decreased by 0.9% & 0.1% respectively. The
Indian ADRs ended in the red except Infosys & MTNL, which increased
by 0.9% & 1.4% respectively. Wipro & Satyam decreased by 1%
each, while ICICI & HDFC Bank decreased by 2% & 4%
respectively. Among the Latin American markets, the Mexican market
increased
by 0.9%, while Brazilian market increased by 0.1%. Among the metal
prices, Aluminium & Zinc fell by 1.3% & 1.8% respectively,
while Copper & Nickel increased by 0.1% & 1.7% respectively.
The light crude oil for September decreased by 2.6% to settle at $116 a
barrel. Today, the Asian Markets are trading mix with Nikkei index
trading up by 0.3%, while Shanghai is trading down by 1.5%.

On Tuesday, the FIIs were net sellers of Rs. 384 crores in the cash market.
Mutual
Funds were net sellers of Rs. 266 crores. As per the provisional
figures, FIIs were net sellers of Rs. 916 crores in the cash market on
Wednesday, while they were net sellers of Rs. 908 crores in the F&O
markets.

Today, we expect the Markets to open down, following weak global cues.
However,
it could recover partially from the lows during the day. Banks &
Realty continue to 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

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 bounce back after yesterday’s sharp fall Markets ended with decent gains after yesterday’s sharp sell off.

22 Aug 2008 | 18:35



Markets bounce back after yesterday’s sharp fall Markets ended with decent gains after yesterday’s sharp sell off.



Markets
bounce back after yesterday’s sharp fall Markets ended with decent
gains after yesterday’s sharp sell off. Buying was seen in Metal, FMCG,
Banking, Oil, Auto and Power stocks. Positive cues from European
markets too helped markets to remain in positive territory.

While
the Sensex gained 157.76 points or 1.11% higher at 14,401.49, the Nifty
jumped 43.6pts or 1.02% to close at 4327.45. The broad market indices
ended on a mixed note. While the BSE Midcap gained 0.34%, the BSE
Smallcap index lost 0.16%. This explains the negative market breadth as
A/D ratio was 0.86:1 on the BSE. Turnover on the NSE for Thursday was
Rs.9382crs.
versus Rs.8581 cr on Thursday.

All the sectoral
indices ended higher. The top gainers were the BSE Metals, Bankex,
Consumer Durables and FMCG indices. The top gainers from the Sensex
were Sterlite, Hindalco, HUL, HDFC and BHEL. The losers from the Sensex
pack included Satyam, Grasim, NTPC and Wipro.

Though the markets
have bounced back today, the underlying short term trend continues to
remain weak as evidenced by the poor market breadth. We continue with
our strategy of adopting a go slow approach on fresh long positions.Visit site at – http://investorline.co.in/
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Markets likely to open flat to up & remain volatile in a range ahead of the derivatives expiry tomorrow

27 Aug 2008 | 11:06



Markets likely to open flat to up & remain volatile in a range ahead of the derivatives expiry tomorrow



After
a weak opening yesterday, the Indian Markets bounced back from the lows
to end the session marginally in the positive. The BSE Sensex recovered
well from a low of 14286.4 to close marginally up by 0.2% at 14482.2.
After opening down & making an intra-day low of 4283, the Nifty
recovered well through the day. It gathered momentum in the last hour
of trade to make an intra-day high of 4345 towards the end before
closing at 4337.5, marginally up by 0.1% over Monday’s close. The NSE
cash turnover stood at Rs. 8669 crores in comparison to Rs. 7495 crores
on Monday. The market breadth was marginally in the negative on BSE
with the
advance-decline ratio of 0.86:1. Among the sectoral
indices, Banks & Auto indices outperformed, increasing by 1.7%
& 1.3% respectively. However, Oil
& Gas & Realty indices underperformed decreasing by 1.1% & 0.6%
respectively.

The
Dow and S&P 500 rose on Tuesday by 0.2% & 0.4% respectively as
hurricane fears lifted oil prices and boosted energy shares, blunting
the effect of a report that showed a growing number of problem U.S.
banks.
However Nasdaq closed flat. The Indian ADRs ended on a
positive note with Infosys, Wipro & Satyam increasing by 1.6%, 1.7%
& 0.9% respectively. ICICI & HDFC Bank increased by 2.7% &
3.7% respectively. MTNL decreased by 0.6%.
Among the Latin American
markets, the Mexican & Brazilian markets decreased by 1.3% &
0.2% respectively. Among the Metal prices, Aluminium & Copper fell
by 2% & 3.4% respectively, while Zinc & Nickel decreased by 4%
& 3.5% respectively. The light crude oil for September increased by
1% to settle at $116.27 a barrel. Today, the Asian Markets are trading
mix with Nikkei & Shanghai trading down by 0.1% & 1.3%
respectively. However Hang Seng is trading up by 0.9%.

As per
the provisional figures, FIIs were net sellers of Rs. 572 crores in the
cash market on Tuesday, while they were net buyers of Rs. 80 crores in
the F&O markets.

Today, we expect the Markets to open flat
to up & remain volatile in a range ahead of the derivatives expiry
tomorrow. Among the indices, Auto, Bank & IT indices are looking
good, while Oil & Gas & Realty could underperform.Visit site at – http://investorline.co.in/
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Markets expected to open down following weak global cues, but could recover partially from the lows during the day

01 Sep 2008 | 10:05



Markets expected to open down following weak global cues, but could recover partially from the lows during the day



The
Indian Markets closed on a strong note on Friday with the BSE Sensex
closing at 14564.5, up by 3.7% over Thursday’s close. After a gap up
opening, the Nifty continued to show strength through the day. It made
an intra-day high of 4368.8 towards the end before closing at 4360, up
by 3.5% over Thursday’s close. The NSE cash turnover stood at Rs. 10626
crores in comparison to Rs. 13070 crores on Thursday. The market
breadth was positive on BSE with the advance-decline ratio of 2:1. All
the sectoral indices closed in the green with Banks, Realty & PSUs
being the major gainers, increasing by 6.3%, 5.1% & 3.7%
respectively.

U.S. stocks tumbled on Friday, led lower by tech
shares after computer maker Dell warned that companies worldwide are
cutting back on technology spending. Dow Jones & Nasdaq decreased
by 1.5% & 1.8% respectively. The Indian ADRs ended on a mix note
with Infosys decreasing by 0.3%, while Satyam closed up by 2.6%. Dr.
Reddy’s & Tata Communications increased by 1.6% each, while HDFC
Bank was down by 0.4%. Among the Latin American markets, the Mexican
& Brazilian markets decreased by 0.6% & 1.2% respectively.
Among the Metal prices, Aluminium & Nickel decreased by 0.7%
& 1.8% respectively, while Copper & Zinc decreased by 3% & 1.2%
respectively.
The light crude oil for October decreased marginally by 0.1% to settle
at $115.46 a barrel. Today, the Asian Markets are trading on a weak
note with Nikkei, Shanghai & Singapore trading down by 1.4%, 2.6%%
& 1.1% respectively, while Hang Seng is trading down by 1.8%.

On
Thursday, the FIIs were net buyers of Rs. 144 crores in the cash
markets, while Mutual Funds were net sellers of Rs. 58.6 crores in the
F&O Markets. As per the provisional figures, FIIs were net sellers
of Rs. 365 crores in the cash market on Friday, while they were net
buyers of Rs. 1586 crores in the F&O markets.

Today, we expect the Markets to open down following weak global cues.
However, it could recover partially from lower levels during the day.Visit site at – http://investorline.co.in/
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Dalal Street continues to sink

01 Jul 2008 | 18:35



Dalal Street continues to sink



Bears
continue to dominate the markets. On Tuesday, the markets opened on a
flat note, dipped into the red, tried to recover but failed. The
markets started slipping by noon and ended near the lows of the day.
The Sensex has lost close to 1500 points over the past three sessions.
High inflation, rising interest rates, record high oil prices (crossed
$143 a barrel) and political concerns continued to haunt the markets.
The Sensex has closed below the psychological 13,000 mark and the Nifty
below 4,000.

While the Sensex closed down 482.94 points or 3.59%
at 12,978.66, the Nifty closed down 143.80 points or 3.56% at 3896.75.
The broadmarket indices also participated in the sell-off. The BSE
Midcap and Smallcap index ended 4.69% and 4.66% lower respectively. The
market breath was pathetic, as A/D ratio was close 1:6 on the BSE. NSE
cash turnover was Rs. 12072.33 cr vs Rs.
11450.59 cr yesterday.

Selling
pressure was seen across the board. The BSE Metal, Bankex and Realty
lost more than 5% each. The only gainer in the BSE-30 was NTPC.
Losers from the Sensex pack included Rel Infra, Rel Comm, M&M, Maruti Suzuki and SBI.

The
markets continue to show weakness. The markets continue to make new
lows everyday. One will have to wait for a bottom to be formed before
venturing into new buying.Visit site at – http://investorline.co.in/
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Bears continue to dominate

30 Jun 2008 | 18:58

Bears continue to dominate The markets opened on a flat note this morning but soon slipped into the red. The Sensex has lost close to 1000 points over the past two sessions. High inflation, rising interest rates, record high oil prices and political concerns continued to haunt the markets. While the Sensex closed down 340.62 points or 2.47% at 13,461.60, the Nifty lost 96.10 points or 2.32% at 4040.55. The broad market indices also participated in the sell-off as the BSE Midcap and Smallcap index lost 3.1% and 3.4% respectively. The market breath was pathetic, as A/D ratio was close to 1:4 on the BSE. NSE cash turnover was Rs.11,450.59 cr Vs. Rs. 12,728.29 crs yesterday. Sectorally, it was a sea of red. The BSE Oil & Gas, Consumer Durables and Realty lost more than 4% each. IT, FMCG and Healthcare indices closed with marginal gains. Gainers from the BSE-30 include Hindalco, ITC, Infosys and Jaiprakash Associates. Losers from the Sensex pack included Rel Infra (down 11.5%), ACC, Ambuja Cement and DLF. The bearish sentiments continue at Dalal Street as markets continue to fall like nine pins. We continue with our go slow approach on fresh long positions till we see signs of strength.

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Markets witness a sell off

27 Jun 2008 | 18:48



Markets witness a sell off



The
markets opened with a downgap today on the back of weak global cues. A
sharp spurt in crude oil prices (due to threats of Libya cutting
supplies) and political uncertainty due to Indo-US nuclear deal pulled
the indices lower today. Further, inflation for the week ended 14 June
2008 came in at 11.42%. The markets ended near the lows of the day.

While
the Sensex closed a whopping 619.60 points or 4.30% lower at 13,802.22,
the Nifty lost 179.20 points or 4.15% at 4136.65. The broad market
indices also participated in the sell-off as the BSE Midcap and
Smallcap index ended 3.19% and 2.68% lower respectively. The market
breath was pathetic as A/D ratio was 1:3.5 on the BSE. NSE cash
turnover was
Rs.12,728.29 crs. Vs. Rs.15,803.95 crs. yesterday.

Sectorally,
it was a sea of red. The BSE Metal, Power, Auto and Bankex lost more
than 4.5% each. There were no gainers in the BSE-30. Losers from the
Sensex pack included Tata Motors, HDFC, Wipro, Rel Infra, M&M,
Ambuja Cement and Jaiparaksh Associates which lost more than 7% each.

After
pulling back for two sessions with positive gains, the markets resumed
their downtrend by plunging once again. We recommend a go slow approach
on fresh long positions. Traders can look for fresh shorting
opportunities on any risesVisit site at – http://investorline.co.in/
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Markets expected to open up following positive global cues & remain volatile with positive bias due to derivatives expiry today.

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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25 Jun 2008 | 18:49 Markets recover from day's lows, snap 5 day losing streak The markets opened in the red on Wednesday (250608). The RBI hiked the CRR (to 8.75%) and Repo (to 8.5%) rate by 50 bps points each respectively on Tuesday evening. However, the markets recovered from the initial blow in the morning and traded on a flattish note for most of the day. The markets gained during the last hour of trade and ended in the green. Short covering ahead of the expiry on the June 2008 derivatives series tomorrow and positive global cues from Europe seemed to support the markets. While the Sensex closed up 113.49 points or 0.8% at 14,220, the Nifty closed up 61.55 points or 1.5% at 4253. The broadmarket indices participated in the recovery. The BSE Midcap and Smallcap index ended 0.6% and 0.7% higher respectively. The market breadth turned positive towards the end of the day. Overall, the market breath was flat, as A/D ratio was 1:1 on the BSE. NSE cash turnover was Rs. 12331.10 cr vs Rs. 11769.93 cr on Tuesday. Barring the Bankex, FMCG and IT indices, the BSE Sectoral indices ended higher. The BSE Metal, Oil & Gas and Realty index surged more than 2% each. Some of the gainers from the BSE - 30 were Rel Comm, Tata Steel, DLF, Rel Infra and TCS. Losers from the Sensex pack included HDFC, Wipro, Cipla, Infosys and ITC. Despite breaching the 52 intra-day low of 13,779 (today's low - 13,731.54) created on 17th August, 2007 the markets managed to recover and close above the 14,000 mark on Wednesday. The market could get direction from outcome for the US Federal Reserve two day meeting, which concludes today. The Fed is expected to take a call on its key rate for short-term lending which is at 2% currently. The markets seem to have formed a near term bottom, however, re-testing of today's lows cannot be ruled out.

25 Jun 2008 | 18:49



Markets recover from day's lows, snap 5 day losing streak



The
markets opened in the red on Wednesday (250608). The RBI hiked the CRR
(to 8.75%) and Repo (to 8.5%) rate by 50 bps points each respectively
on Tuesday evening. However, the markets recovered from the initial
blow in the morning and traded on a flattish note for most of the day.
The markets gained during the last hour of trade and ended in the
green. Short covering ahead of the expiry on the June 2008 derivatives
series tomorrow and positive global cues from Europe seemed to support
the markets.

While the Sensex closed up 113.49 points or 0.8% at 14,220, the Nifty
closed up 61.55 points or 1.5% at 4253. The broadmarket indices
participated
in the recovery. The BSE Midcap and Smallcap index ended 0.6% and 0.7%
higher respectively. The market breadth turned positive towards the end
of the day. Overall, the market breath was flat, as A/D ratio was
1:1 on the BSE. NSE cash turnover was Rs. 12331.10 cr vs Rs. 11769.93 cr on Tuesday.

Barring
the Bankex, FMCG and IT indices, the BSE Sectoral indices ended higher.
The BSE Metal, Oil & Gas and Realty index surged more than 2% each.
Some
of the gainers from the BSE - 30 were Rel Comm, Tata Steel, DLF, Rel
Infra and TCS. Losers from the Sensex pack included HDFC, Wipro, Cipla,
Infosys and ITC.

Despite breaching the 52 intra-day low of
13,779 (today's low - 13,731.54) created on 17th August, 2007 the
markets managed to recover and close above the 14,000 mark on
Wednesday. The market could get direction from outcome for the US
Federal Reserve two day meeting, which concludes today. The Fed is
expected to take a call on its key rate for short-term lending which is
at 2% currently. The markets seem to have formed a near term bottom,
however, re-testing of today's lows cannot be ruled out.Visit site at – http://investorline.co.in/
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Markets expected to open down on account of weak global cues & Repo Rate & CRR hike announced by RBI yesterday

Markets expected to open down on account of weak global cues & Repo Rate & CRR hike announced by RBI yesterday The bears continued to dominate the Indian Markets on Tuesday, as the BSE Sensex closed on a weak note at 14106.6, down by 1.3% over Monday's close. The Nifty opened at 4271 & made an intra-day high of 4305.3. However it started showing signs of weakness at those levels & slipped in the negative terrain. It corrected through the day, making an intra-day low of 4156.1 towards the end before it managed to close at 4191.1, down by 1.8% over Monday's close. The NSE cash turnover stood at Rs. 11769 crores in comparison to Rs. 11239 crores on Monday. The market breadth was negative on BSE with the advance-decline ratio of nearly 0.37:1. All the sectoral indices ended in the red with Metals, PSU & FMCG indices being the major losers, which fell by 3.5%, 2.8% & 2.5% respectively. U.S. stocks fell on Tuesday, on concerns about the economy after a report showed consumer confidence hit a 16-year low and as a profit warning from United Parcel Service stoked fears about corporate results. Dow Jones closed down by 0.3%, while Nasdaq closed down by 0.7%. Most of the Indian ADRs ended lower with Infosys & Wipro decreasing by 2.4% & 1% respectively, while Satyam increased marginally by 0.1%. ICICI & HDFC Bank decreased by 3.8% & 3.4% respectively. Tata Communication & MTNL decreased by 4.3% & 2.4% respectively. However Dr. Reddy's was up by 1.4%. Among the Latin American markets, the Mexican market decreased by 0.6%, while Brazilian market closed down by 0.7%. Among the metal prices, Aluminium & Copper decreased by 0.5% each, while Zinc & Nickel decreased by 0.9% & 1.8% respectively. The light crude oil for July increased marginally by 0.2% to settle at $137 a barrel. Today, the Asian Markets are trading mix with Nikkei & Hang Seng trading down by 1.5% & 1.1% respectively. However Shanghai is up by 2.7%. On Monday, the FIIs were net sellers of Rs. 621 crores in the cash market, while Mutual Funds were net buyers of Rs. 36 crores. As per the provisional figures, FIIs were net buyers of Rs. 90 crores in the cash market on Tuesday, while they were net sellers of Rs. 1086 crores in the F&O markets. Today, we expect the Markets to open down on account of weak global cues. Also the RBI yesterday hiked the Repo Rate & CRR by 50 basis points, which could have a negative impact on markets initially. However, this was partly expected / discounted in the prices earlier. Among the indices, Metals, FMCG & IT indices are looking weak. 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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Markets expected to open flat to down & bounce back from lower levels on the back of some short covering

24 Jun 2008 | 09:53



Markets expected to open flat to down & bounce back from lower levels on the back of some short covering



The
Indian Markets continued to correct on Monday as the BSE Sensex closed
at 14293.3, down by 1.9% over Friday's close. The Nifty opened at
4351.15 & continued its downtrend. It made an intra-day low of
4225.5. However it witnessed some recovery from those levels, yet
closed on a weak note at 4266.4, down by 1.9% over Friday's close. The
NSE cash turnover stood at Rs. 11239 crores in comparison to Rs. 12069
crores on Friday. The market breadth was negative on BSE with the
advance-decline ratio of nearly 1:5. Among the sectoral indices, IT was
the only outperformer, which increased by 0.7%. Capital Goods, Metals
& Power were the major losers, which decreased by 5.3%, 4.6% &
4% respectively.

On Monday, the US markets closed flat as
renewed concerns about the outlook for financial shares offset gains in
energy stocks and news of a $4.4 billion takeover in the agricultural
sector. Dow Jones closed flat, while Nasdaq closed down by 0.9%. The
Indian ADRs ended on a mix note with Infosys, Wipro & Satyam
increasing by 1.6%, 0.2% & 1.8% respectively. ICICI & HDFC Bank
decreased by 1.3% & 1.6% respectively. Tata Communication &
MTNL decreased by 3.6% & 3% respectively. Among the Latin American
markets, the Mexican market decreased by 0.2%, while Brazilian market
ended flat. Among the metal prices, Aluminium & Copper decreased by
0.3% & 0.5% respectively, while Zinc & Nickel decreased by1.6%
& 1.3% respectively. The light crude oil for July increased by 0.8%
to settle at $135.4 a barrel. Today, the Asian Markets are trading in
the red with Nikkei & Hang Seng trading down by 0.1% & 0.6%
respectively. Shanghai & Singapore Strait are trading down by 1.1%
& 0.2% respectively.

On Friday, the FIIs were net sellers of
Rs. 952.5 crores in the cash market, while they were net sellers of Rs.
1252 crores in the F&O markets. Mutual Funds were net buyers of Rs.
216 crores. As per the provisional figures, FIIs were net sellers of
Rs. 666 crores in the cash market on Monday, while they were net
sellers of Rs. 166 crores in the F&O markets.

Today, we
expect the Markets to open flat to down. However it could bounce back
from lower levels on the back of some short covering. Among the
indices, IT could bounce back, while FMCG & Healthcare are looking
weak.Visit site at – http://investorline.co.in/
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Markets continue to slide

23 Jun 2008 | 18:25



Markets continue to slide



The
markets opened down today on the back of weak global cues. The markets
then recovered during the day but again drifted lower to close in the
red.
Concerns of further policy tightening by the RBI with inflation reaching a
+13-year high and political uncertainty, weighed on the market
+sentiment
today.
Over the weekend Uttar Pradesh chief minister Mayawati's Bahujan Samaj
Party (BSP) withdrew its support to the Congress-led UPA government.

While
the Sensex closed down 277.97 points or 1.91% at 14,293.32, the Nifty
lost 81.15 points or 1.87% at 4266.40. The broad market indices also
participated in the sell off to a larger extent as the BSE Midcap and
Smallcap indices lost 3.60% and 3.53% respectively. The market breadth
was pathetic, as A/D ratio was 1:5 on the BSE. NSE cash turnover was
Rs.11,238.98 crs. Vs. Rs.12,069.08 cr on Friday.

Barring
the BSE IT index that gained 0.68%, all the BSE Sectoral indices ended
in the red. The BSE Power, Metal and Capital Goods lost more than 4%
each. Gainers from the BSE -30 were ONGC, HDFC, Wipro, Infosys, Satyam
and HUL only. Losers from the Sensex pack included Jaiprakash
Associates, Hindalco, L&T, Maruti Suzuki and Ranbaxy (lost more
than 5% each).

While the markets continue to drift lower, the
Nifty is now trading near the Feb 07 highs of 4245. This could provide
some temporary support to the markets and we could see some bounce back
in the coming sessions. This bounce back should however be used for
exiting long positions entered into earlier and can also be used for
initiating fresh shorts. With respect to fresh Investment positions, it
would be advisable to wait till the markets make a confirmed bottom.Visit site at – http://investorline.co.in/
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Markets correct further; Nifty closes just above 4500 Bears reigned on the markets again as the bulls were not given a single chance in today's session.

20 Jun 2008 | 09:37

Markets correct further; Nifty closes just above 4500 Bears reigned on the markets again as the bulls were not given a single chance in today's session. Markets correct further; Nifty closes just above 4500 Bears reigned on the markets again as the bulls were not given a single chance in today's session. It was the second straight day of selling pressure in the markets. The weakness was due to negative sentiment in US markets, which slipped due to rising crude oil prices and weak earnings from FedEx and Morgan Stanley. Asian markets also ended in negative terrain. Inflation worries also continue to haunt the markets as experts expect Inflation to touch the double digit mark this week itself. Another worrisome subject is Nuke deal. If the UPA government goes ahead with this deal, Left has threatened that they will withdraw support. The Sensex plunged 334.32 points or 2.17% to finish at 15,087.99. The Nifty lingered around its psychological mark of 4500 through the day and managed to close just above that level. It touched an intraday low of 4488.95, before closing the day at 4504.25, down 78.15 points or 1.71%. Broad market indices like the BSE Mid Cap and BSE Small Cap lost 2.04% and 1.48% respectively. Market breadth was weak as Declining stocks outnumbered advancing stocks by a ratio of more than 2:1. NSE cash turnover was Rs.9342.7crs. Vs. Rs.12,534.27 crs. yesterday. All the BSE sectoral indices ended lower. The top losers were BSE Realty, Bankex, Capital Goods and Power. The indices that lost the least were the BSE IT and Metals index. Top gainers from the BSE-30 included M&M, Wipro and Cipla. Losers in the Sensex pack were Ranbaxy, Rel Infra, BHEL, L&T, ICICI Bank and HDFC bank. With the main indices continuing to correct, traders now need to observe if the Nifty can hold the 4500 support levels. A close below these support levels could lead to the Nifty testing the 4400 support levels. On the other hand, if the Nifty finds support and moves up, traders could consider buying selectively in order to participate in the rally.

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Markets witness a free fall

20 Jun 2008 | 00:00



Markets witness a free fall



The
markets opened on a flattish note this morning on the back of mixed
global cues. However, post the announcement of the inflation numbers
the markets starting falling sharply and ended near the lows of the day.
Inflation
soared to a 13 year high of 11.05%, which was much higher than street
expectations. The surge in inflation was due to rise in retail fuel
prices. The government had raised retail fuel prices by about 10% on 4
June 2008 to help curb losses at its state-owned refiners, arising from
surging global crude oil prices. High inflation increased fears of a
tighter monetary policy. Selling was seen across all sectors.

While
the Sensex closed down 516.70 points or 3.42% at 14,571.29, the Nifty
lost 156.7 points or 3.48% at 4347.55. The broad market indices also
participated in the sell off as the BSE Midcap and Smallcap indices
lost 3.17% and 3.43% respectively. The market breadth was negative, as
A/D ratio was 1:5 on the BSE. NSE cash turnover was Rs.12,069 crs. Vs.
Rs.9,342.70 crs. yesterday.

All the BSE Sectoral indices ended
in the red. The BSE Oil & Gas shed the most as it lost 5%.
Ironically, the only gainer from the BSE -30 was oil and gas major,
ONGC. Losers from the Sensex pack included Rel Comm, Reliance,
Hindalco, Jaiprakash Associates and Rel Infra.

With the Nifty
breaking the 4500 support levels quite easily, the markets are in a
firm downtrend and seem to be headed lower in the days to come.
Traders
can use any pullbacks to initiate fresh shorts. With respect to fresh
Investment positions, it would be advisable to wait till the markets
make a confirmed bottom.Visit site at – http://investorline.co.in/
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Markets expected to open on a weak note & remain volatile through the day

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.

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Markets expected to open flat to down & try to recover during the day

30 Jun 2008 | 10:50



Markets expected to open flat to down & try to recover during the day



On
Friday, the Indian Markets witnessed a sharp correction with BSE Sensex
closing deep in the red at 13802, down by 4.3% over Thursday's close.
After opening gap down, the Nifty remained weak & volatile through
the day. It did try to bounce back post the inflation data, but
couldn't sustain as the bears continued to dominate the session and
pulled the Nifty down to an intra-day low of 4119.2 before it managed
to close at 4136.7, down by 4.2% over Thursday's close. The NSE cash
turnover stood at Rs. 12728 crores in comparison to Rs. 15803 crores on
Thursday. The market breadth was positive on BSE with the
advance-decline ratio of nearly 0.3:1. Among the sectoral indices,
Banks, Auto & Power indices were the major losers, which fell by
5.3%, 5.2% & 4.9% respectively.

The U.S. markets ended lower
on Friday with the Dow Jones closing down by 0.9%, while Nasdaq fell by
0.3%. The Indian ADRs closed on a mix note with Infosys, Wipro &
Satyam increasing by 1%, 0.2% & 2.5% respectively. Tata Motors
& ICICI Bank fell by 6.5% & 4.3% respectively. MTNL decreased
by 4%. Among the Latin American markets, the Mexican market increased
by 0.3%, while Brazilian market closed up by 0.6%. Among the metal
prices, Aluminium, Copper & Zinc increased by 0.9%, 1.3% & 2%
respectively, while Nickel decreased by 1.4%. The light crude oil for
August increased by 0.4% to settle at $140.2 a barrel. Today, the Asian
Markets are trading on a mix note with Nikkei & Hang Seng trading
marginally up by 0.3% & 0.1% respectively. However Shanghai is
trading down by 0.7%.

On Thursday, the FIIs were net sellers of
Rs. 469 crores in the cash market, while they were net buyers of Rs.
919 crores. Mutual Funds were net buyers of Rs. 276 crores. As per the
provisional figures, FIIs were net sellers of Rs. 703 crores in the
cash market on Friday, while they were net sellers of Rs. 63 crores in
the F&O markets.

Today, we expect the Markets to open flat
to down. However, it could recover from the lows during the day. Among
the indices, FMCG, Healthcare, Oil & gas & IT indices are
looking relatively stronger & could be the first to bounce back if
the market recovers.

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Markets expected to open on a weak note following negative global cues & take further direction from weekly inflation data today

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

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Markets end higher after a volatile session The markets opened higher today.

26 Jun 2008 | 17:47



Markets end higher after a volatile session The markets opened higher today.



Markets
end higher after a volatile session The markets opened higher today.
Short covering ahead of expiry of June 2008 derivatives contracts
helped the markets close higher for the second straight session today.
The US Federal Reserve on Wednesday, 25 June 2008, held interest rates
steady at 2% on Wednesday, as widely expected, and signalled it was in
no rush to raise them, even as it voiced greater concerns about
inflation. However, global cues were mixed and the markets remained
volatile through the day.

While the Sensex closed up 201.75
points or 1.42% at 14,421.82, the Nifty gained 63.2 points or 1.5% at
4315.85. The broad market indices ended on a mixed note as the BSE
Midcap and Smallcap index ended down -0.08% and up 1.01% respectively.
The market breath was positive, as A/D ratio was 1.3:1 on the BSE. NSE
cash turnover was Rs.15,803.95 crs. Vs. Rs.12,331.10 cr yesterday.

Barring
the Bankex, Consumer Durables and Realty indices, all the BSE Sectoral
indices ended higher. The BSE Oil & Gas, IT and Metal indices
gained more than 1% each. Some of the gainers from the BSE - 30 were
Ambuja Cement, Wipro, Reliance, Cipla and Satyam. Losers from the
Sensex pack included Rel Comm, Maruti Suzuki, Hindalco, Ranbaxy and DLF.

While
the markets have now pulled back for two consecutive sessions, the
trend continues to remain down. Traders need to be cautious with their
long positions as the markets could suddenly resume their downward
journey. Traders can look for fresh shorting opportunities to profit
once the market resumes to move lower.

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Bears continue to dominate

24 Jun 2008 | 18:07



Bears continue to dominate



The
markets opened on a flattish note today and traded marginally in the
positive for the first part of the day. However, post noon the markets
started sliding, tried to recover, failed and ended in the red. The
Sensex broke the psychologically important 14,000 mark on an intra-day
basis for the first time in 10 months. The US Federal Reserve meeting
begins on 24 June 2008 and is expected to take a call on its key rate
for short-term lending which is at 2% currently.

While the
Sensex closed down 186.74 points or 1.31% at 14,106.58, the Nifty lost
75.30 points or 1.76% at 4191.10. The broad market indices also
participated in the sell-off as the BSE Midcap and Smallcap indices
ended 1.76% and 1.82% lower respectively. The market breadth was
negative as A/D ratio was close to 1:3 on the BSE. NSE cash turnover
was Rs.11,769.93 crs.
Vs. Rs.11,238.98 crs. yesterday.

Sectorally,
it was a sea of red. The BSE FMCG and Metal indices lost the most,
2.54% and 3.52% respectively. Gainers from the BSE -30 were HDFC,
Ranbaxy, Reliance, BHEL and Jaiprakash Associates. Losers from the
Sensex pack included HUL, Tata Steel, NTPC, ONGC and L&T.

The
downtrend continues as the main indices have now closed with losses for
the fifth consecutive session. We continue with our strategy of using
any bounce backs to exit long positions entered into earlier and
initiating fresh shorts. With respect to fresh Investment positions, it
would be advisable to wait till the markets make a confirmed bottom.

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Markets expected to open down following weak global cues & fall further, but could recover from the lows during the day.

23 Jun 2008 | 10:32



Markets expected to open down following weak global cues & fall further, but could recover from the lows during the day.



It
was a bad session on Friday as the Indian Markets corrected sharply on
a much higher than expected inflation of 11.05%, thus closing below the
March lows. The BSE Sensex closed at 14571.3, down by 3.4% over
Thursday's close. The Nifty opened flat & made an intra-day high of
4532 in the early hour of trade. However it showed signs of weakness
& post the weekly inflation data, it witnessed a huge sell-off. It
corrected through the day, making an intra-day low of 4333.6 before it
managed to close at 4347.6, down by 3.5% over Thursday's close. The NSE
cash turnover stood at Rs. 12069 crores in comparison to Rs. 9342
crores on Thursday's. The market breadth was negative on BSE with the
advance-decline ratio of nearly 1:5. All the sectoral indices ended in
the red with Oil & Gas, Realty & Metals being the major losers,
decreasing by 5%, 4.5% & 4% respectively.

On Friday, the US
markets closed on a weak note as rising oil prices and warnings of more
mortgage-related write-downs at banks reignited investor fears of worse
to come. Dow Jones closed below 12000 for the first time since
mid-March, closing down by 1.8%, while Nasdaq closed down by 2.3%. The
Indian ADRs ended lower with Infosys, Wipro & Satyam decreasing by
4.4%, 7.4% & 5.8% respectively. ICICI & HDFC Bank decreased by
5.7% & 4.4% respectively. Tata Communication decreased by 5.6%,
while MTNL increased by 0.7%. Among the Latin American markets, the
Mexican market decreased by 1.1%, while Brazilian market decreased by
1.3%. Among the metal prices, Aluminium & Copper increased by 1.7%
& 2.4% respectively. Zinc closed up by 2%, while Nickel closed
flat. The light crude oil for July increased by 2% to settle at $134.62
a barrel. Today, the Asian Markets are trading on a weak note with
Nikkei & Hang Seng trading down by 1% each, while Shanghai &
Singapore Strait are trading down by 1.6% & 0.9% respectively.

On
Thursday, the FIIs were net sellers of Rs. 352 crores in the cash
market, while Mutual Funds were net sellers of Rs. 100 crores. As per
the provisional figures, FIIs were net sellers of Rs. 999 crores in the
cash market on Friday, while they were net sellers of Rs. 1252 crores
in the F&O markets.

Today, we expect the Markets to open
down & fall further following weak global cues. However, it could
recover from the lows during the day considering the sharp sell-off
that has taken place over the last three trading sessions. Among the
indices, FMCG & IT are looking weak.

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Slow down in excise duty collection

Slow down in excise duty collection

Indirect
tax collection in June 2008 recorded a 9.2% growth compared with June
2007, includes 13% growth in custom duties followed by 5.9% growth in
excise duty.

Excise duty collection growth slow down in
April-June 2008 thanks to slowdown in manufacturing. According to the
recent IIP (index of industrial production) data, manufacturing sector
recorded 5.28% growth in April-May 2008 compared with a 11.82% growth
in April-May 2007. Excise duty collection recorded 2.8% growth in
April-June 2008 compared with April-June 2007.Custom duty collection
recorded a 20.9% growth in April-June 2008 compared with April-June
2007.

Slow down in excise duty collection will have impact on
overall revenue collection however custom duty collections continue to
be buoyant.

Indirect tax collection

At a glance	Jun-07	Jun-08	% growth	Apr-June -2007	Apr-June -2008	% change
Custom duty	8171	9236	13	23540	28459	20.9
Excise duty	9335	9889	5.9	25183	25882	2.8
Total	17506	19125	9.2	48723	54341	11.5
Rs in crore source : PIB 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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An auspicious end for US Market

16 Jun 2008 | 06:11 An auspicious end for US Market

US Market ended the week on Friday, 13 June on a mixed note. The Dow
Jones industrial Average and the S&P 500 managed to eke out gains
for the week. Nasdaq was the only major index to register loss. It was
another volatile week of trading. But financial sector remained
burdened with concerns about Lehman Brothers' financial position. On
the other hand, Fed's inflation-fighting comments made market more
nervous during the middle of the week. The only positives were the
pleasing economic data and a welcome pickup in M&A news.

The Dow Jones Industrial Average gained 97.5 points for the week to end
at 12,307.6. Tech - heavy Nasdaq lost 20 points at 2,454.5. S&P 500
ended practically unchanged at 1,360.03. In percentage terms, Dow and
Nasdaq gained and lost 0.8% respectively.

Although the week
began on an inauspicious note, it certainly ended on an auspicious one
as the indices rallied into the close Friday, finishing at or near the
session's highs.

On Friday, 13 June, crude prices closed down
$1.90 on the New York Mercantile Exchange, settling at $134.84 per
barrel and finishing the week roughly 2.7% lower. The sustained drop in
oil prices helped provide airline and transportation stocks a healthy
lift. Indices rallied and Dow ended higher by almost 165 points.

Also, on the economic front, consumer prices increased 0.6%
month-over-month and 4.2% year-over-year, according to the May Consumer
Price Index (CPI) data. Market was forecasting a monthly increase of
0.5% and an annualized increase of 3.9%. Core CPI data, which excludes
food and energy, indicated prices increased 0.2% month-over-month and
2.3% year-over-year, which was in-line with the consensus. Nasdaq too
ended higher by 50 points on that day.

Earlier during the
week, in a speech late Monday, 9 June, Bernanke emphasized the central
bank's determination to hold down inflation expectations. The Fed has
hinted that it is most likely done cutting rates, and its next move is
likely an increase in rates. Market viewed as a signal the Fed will
move to tighten monetary policy later this year.

In the
financial sector, Lehman Brothers weighed on the financial sector today
after a second quarter earnings preannouncement from the company topped
headlines. The struggling Wall Street firm reported that it expects a
massive $2.8 billion second quarter loss and plans to raise $6.0
billion in new capital in common and preferred stock offerings. The
stock slid by 20% during the week.

In economic news during the
week, the Commerce Department reported that U.S. trade deficit widened
to $60.9 billion in April on higher prices for crude oil and other
commodities. Imports rose 4.5% to $216.4 billion, while exports
increased 3.3% to $155.5 billion. Excluding the impact of inflation,
the trade deficit slipped by 0.1% to the lowest level in nearly five
years.

Also, retail sales increased May by 1.2%, excluding
autos. The results were way ahead of the 0.7% increase that market had
expected. April sales, less autos, were revised upward to an increase
of 1.0%. The best part of the report was that, paired with the May
same-store sales seen last week, the retail sales report for May, and
the upward revision to April, the same will bode well for upward
revisions to second quarter real GDP forecasts.

In other
economic news, initial jobless claims for the week ending 7 June
totaled 384,000, which is more than the 370,000 claims that were
expected.

Among interesting corporate news, Yahoo! announced
that it failed to reach an agreement with Microsoft but it has,
instead, decided to team up with Google to increase its competitiveness
in Internet search and display markets.

In the M&A arena,
Belgian brewer InBev made an unsolicited $46 billion offer for
Anheuser-Busch. The offer to BUD shareholders was 11% premium to last
closing price.

Executive Summary

For the week,
indices ended mixed. In percentage terms, Dow and Nasdaq gained and
lost 0.8% respectively. S&P 500 ended practically unchanged.
Although the week began on an inauspicious note, it certainly ended on
an auspicious one as the indices rallied into the close Friday,
finishing at or near the session's highs.

The week was mainly
dominated by the crude oil and economic reports. Financial sector
remained burdened due to news on the Lehman Brothers front. Crude
prices closed down $1.90 on the New York Mercantile Exchange, settling
at $134.84 per barrel and finishing the week roughly 2.7% lower. The
sustained drop in oil prices helped provide airline and transportation
stocks a healthy lift.

For the year, Dow, Nasdaq and S&P 500 are down by 7.2%, 7.5% and 7.4% respectively.

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An auspicious end for US Market

16 Jun 2008 | 06:11




An auspicious end for US Market

US Market ended the week on Friday, 13 June on a mixed note. The Dow
Jones industrial Average and the S&P 500 managed to eke out gains
for the week. Nasdaq was the only major index to register loss. It was
another volatile week of trading. But financial sector remained
burdened with concerns about Lehman Brothers' financial position. On
the other hand, Fed's inflation-fighting comments made market more
nervous during the middle of the week. The only positives were the
pleasing economic data and a welcome pickup in M&A news.

The Dow Jones Industrial Average gained 97.5 points for the week to end
at 12,307.6. Tech - heavy Nasdaq lost 20 points at 2,454.5. S&P 500
ended practically unchanged at 1,360.03. In percentage terms, Dow and
Nasdaq gained and lost 0.8% respectively.

Although the week
began on an inauspicious note, it certainly ended on an auspicious one
as the indices rallied into the close Friday, finishing at or near the
session's highs.

On Friday, 13 June, crude prices closed down
$1.90 on the New York Mercantile Exchange, settling at $134.84 per
barrel and finishing the week roughly 2.7% lower. The sustained drop in
oil prices helped provide airline and transportation stocks a healthy
lift. Indices rallied and Dow ended higher by almost 165 points.

Also, on the economic front, consumer prices increased 0.6%
month-over-month and 4.2% year-over-year, according to the May Consumer
Price Index (CPI) data. Market was forecasting a monthly increase of
0.5% and an annualized increase of 3.9%. Core CPI data, which excludes
food and energy, indicated prices increased 0.2% month-over-month and
2.3% year-over-year, which was in-line with the consensus. Nasdaq too
ended higher by 50 points on that day.

Earlier during the
week, in a speech late Monday, 9 June, Bernanke emphasized the central
bank's determination to hold down inflation expectations. The Fed has
hinted that it is most likely done cutting rates, and its next move is
likely an increase in rates. Market viewed as a signal the Fed will
move to tighten monetary policy later this year.

In the
financial sector, Lehman Brothers weighed on the financial sector today
after a second quarter earnings preannouncement from the company topped
headlines. The struggling Wall Street firm reported that it expects a
massive $2.8 billion second quarter loss and plans to raise $6.0
billion in new capital in common and preferred stock offerings. The
stock slid by 20% during the week.

In economic news during the
week, the Commerce Department reported that U.S. trade deficit widened
to $60.9 billion in April on higher prices for crude oil and other
commodities. Imports rose 4.5% to $216.4 billion, while exports
increased 3.3% to $155.5 billion. Excluding the impact of inflation,
the trade deficit slipped by 0.1% to the lowest level in nearly five
years.

Also, retail sales increased May by 1.2%, excluding
autos. The results were way ahead of the 0.7% increase that market had
expected. April sales, less autos, were revised upward to an increase
of 1.0%. The best part of the report was that, paired with the May
same-store sales seen last week, the retail sales report for May, and
the upward revision to April, the same will bode well for upward
revisions to second quarter real GDP forecasts.

In other
economic news, initial jobless claims for the week ending 7 June
totaled 384,000, which is more than the 370,000 claims that were
expected.

Among interesting corporate news, Yahoo! announced
that it failed to reach an agreement with Microsoft but it has,
instead, decided to team up with Google to increase its competitiveness
in Internet search and display markets.

In the M&A arena,
Belgian brewer InBev made an unsolicited $46 billion offer for
Anheuser-Busch. The offer to BUD shareholders was 11% premium to last
closing price.

Executive Summary

For the week,
indices ended mixed. In percentage terms, Dow and Nasdaq gained and
lost 0.8% respectively. S&P 500 ended practically unchanged.
Although the week began on an inauspicious note, it certainly ended on
an auspicious one as the indices rallied into the close Friday,
finishing at or near the session's highs.

The week was mainly
dominated by the crude oil and economic reports. Financial sector
remained burdened due to news on the Lehman Brothers front. Crude
prices closed down $1.90 on the New York Mercantile Exchange, settling
at $134.84 per barrel and finishing the week roughly 2.7% lower. The
sustained drop in oil prices helped provide airline and transportation
stocks a healthy lift.

For the year, Dow, Nasdaq and S&P 500 are down by 7.2%, 7.5% and 7.4% respectively.

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A dull day at US Market

17 Jun 2008 | 07:53




A dull day at US Market

Technology sector was a sole winner in today?s trading at US Market as
indices closed almost unchanged but Nasdaq was the only index to
register decent gains. Financials were also strong today but weakness
in telecom and a couple of other major sectors offset the same today,
Monday, 16 June, 2008. Crude prices neared $140 earlier in the day but
then slipped and ended marginally lower going into close. Four of the
major economic sectors closed higher. Financials, Technology, Energy
and Materials were the winning sectors.

The Dow Jones industrial
Average traded between red and green for the entire day. It was down
more than 50 points earlier in the day. Going into close, the index
ended the day with a loss of 38 points at 12,269.58. The Nasdaq
Composite Index, finished higher by 20.2 points at 2,474.78. S&P
500 finished higher by 0.11 points at 1,360.14.

Nineteen out
of thirty Dow stocks ended in the red today. AT&T and Verizon ? the
telecom stocks led the Dow laggards. The financial heavyweights like
Citigroup were some of the stocks that helped Dow to restrict its
losses.

In economic news, according to the NY Empire State
Index, June manufacturing activity in the New York region contracted by
a larger-than-expected amount. The reading slipped 5.5 to -8.7, which
fell short of the consensus estimate of -2.0. The stock market
responded negatively to the report.

Brokerage downgrades of giants like General Electric, Verizon and AT&T prevented the broader market from making an advance.

The Nasdaq outperformed today with help from Research In Motion which benefitted from several positive brokerage comments

The National Association of Home Builders reported the industry to be
as gloomy as ever in June, with about one in five builders holding the
view the housing market is good.

Crude prices retreated back
after nearing $140/barrel today. Couple of factors continued to weigh
on crude prices. Chance of an increase in output at Saudi Arabia was
the main reason. Temporary shutdown of an oil platform in the North Sea
and weakness in the U.S. dollar had earlier pushed up crude prices.
Crude-oil futures for light sweet crude for July delivery today closed
at $134.61/barrel (lower by $0.25/barrel or 0.02%) on the New York
Mercantile Exchange. Earlier it rose to $139.89/barrel.

At the
currency markets on Monday, the U.S. dollar fell against most of its
major rivals after a meeting of the Group of Eight finance ministers in
Japan focused more on inflation than on currencies, deflating
expectations of a strong statement of support for the U.S. currency.
The dollar index , which tracks the performance of the greenback
against a basket of other major currencies, was off 0.6% at 73.62.

Volume on the New York Stock Exchange topped 1.1 billion, with
advancers ahead of decliners 3 to 2. On the Nasdaq, more than 804
million shares traded, with advancing stocks outpacing those declining
by 4 to 3.

Key earnings releases from Goldman Sachs and Best Buy
are due tomorrow. Both report prior to opening bell. Tuesday's economic
data includes May Housing Starts and the May Producer Price Index
followed by the Industrial Production Index for May.

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Dow ends marginally lower

17 Jun 2008 | 10:21




Dow ends marginally lower


The
Dow Jones ended slightly down yesterday, in an otherwise mixed session
for US equities with S&P 500 and Nasdaq recording marginal gains.
The equities opened on a steady note on the back of the gains posted by
the markets in the last couple of sessions of the week, when a strong
US retail sales data, along with a in line core inflation figure
provided life in an other battered market which had seen the Dow Jones
Industrial Average plunge to its two months low of 12076.93 on
Wednesday.

The overall sentiments were mixed yesterday after
crude oil prices withdrew to below $134 a barrel and brokerage Lehman
Brothers Holdings Inc. expressed optimism about its future, sparking a
rally in financials. However, as the session progressed as strength in
financials offset weakness in consumer staples and telecom. The initial
strength in equities was also led by crude-oil futures retreating from
a new record high near $140 a barrel in the electronic session, with
crude closing at $134.61 a barrel in New York, down 25 cents.

The
Dow Jones Industrial Average fell 38.27 points, or 0.3%, to end at
12,269.08.Of the Dow's 30 components, 19 closed in the red, with
telecommunications shares fronting the declines. Verizon Communications
Inc. fell 2.9%, while shares of AT&T Inc. Telecom stocks at large
were hit after UBS cut its ratings on Verizon and AT&T. See full
story.

The technology-laden Nasdaq Composite Index climbed 20.28
points, or 0.8%, to end at 2,474.78, with the tech sector showing signs
of life. Yahoo Inc. was in limelight along with Sirius Satellite Radio
Inc. and XM Satellite Radio Holdings Inc.

The S&P 500 Index
$SPX 1,360.14, +0.11, +0.0%) gained 0.11 point to 1,360.14. Financials
were up 1.4%, followed by information technology, up 0.7%. General
Electric -- the second largest company within the S&P 500 was
downgraded to Neutral from Outperform at JPMorgan. The firm feels that
slower economic growth may reduce GE's earnings.

In economic
news, June manufacturing activity in the New York region contracted by
a larger-than-expected amount, according to the NY Empire State Index.
The reading slipped 5.5 to -8.7, which fell short of the consensus
estimate of -2.0. The stock market responded negatively to the report.

Meanwhile,
the global markets, on a broader basis continued to press on inflation
as the prime theme. According to the G8 statement released this
weekend, the soaring commodity and food prices are causing inflation
pressures and a global economic slowdown. The G8 sent out a strong
message of concern and promise of action on rising commodity prices,
the threat of higher inflation and lower economic growth worldwide
following a meeting in Osaka, Japan over the weekend.

Meanwhile,
CPI data released from the euro zone on Monday reinforced the message
by coming in above expectations. Eurostat reported that euro zone
inflation reached an all-time high 3.7% in annualized terms in May, up
from both the previous month's 3.3% increase and the expected 3.6% rise.

Today,
the economic trading catalysts for he US equities are going to be May
US PPI, industrial production, and housing starts and building permits.
With regard to earnings, the big report will come from Goldman Sachs
with traders anxious to see if Goldman was again able to navigate
through the credit turmoil relatively unscathed.

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Asian Markets Follows Wall Street with Mixed Closing

17 Jun 2008 | 15:17




Asian Markets Follows Wall Street with Mixed Closing


Most
Asian markets were unsettled and moved within a range around
break-even, an advance in financials and shipping firms countered a
decline in exporters. The region's volatility came after a mixed finish
for stocks on Wall Street, where the Dow Jones Industrial Average gave
up 38.27 points to 12,269.08, the S&P 500 flat at 1,360.14 and the
Nasdaq Composite rose 20.28 points to 2,474.78.

In Asian Markets
the Nikkei 225 Average was marginally down by 0.1% closing at
14,348.37, after moving between 14,299.67 and 14,387. The broader Topix
index squared off the early losses, closing the day at par, with
1,408.23 on the screen. On the economic arena, Japan's tertiary index,
which measures spending in the services sector, rose 1.8 % in April
from March due to higher spending on information/communication service
and wholesale/retail sector.

According to the Ministry of
Economy, Trade and Industry the tertiary index increased to 110.4 in
April from 108.5 in the previous month. The index was unchanged in
March from February. Spending in the information/communication service
sector rose 9.6 % in April while spending in the wholesale/retail
sector increased 1.5 %. The services sector employs more than half of
Japan's workforce. Spending on services such as retailing, dining and
travel is closely tied to changes in income and consumer confidence.
The tertiary index rose 0.6 % in April from a year earlier after
falling 0.5 % in March.

In another release Japanese machine tool
orders showed a rise of 1.4% on year in May to a revised Y132.82
billion. The result was slightly below the preliminary reading of
Y132.85 billion released earlier this month. In May, orders from
overseas rose 10.4% on year to Y77.74 billion, while domestic orders
slipped 9.0% to Y55.09 billion.?

In Hong Kong, airline shares
fell on worries about the impact of high fuel costs, while financials
climbed after a string of losses recently. The Hang Seng Index rose
0.1% to 23,057.99, coming off the day's low at 22,930.44, while the
Hang Seng China Enterprises Index rose 0.1% to 12,568.03.

China's
Shanghai Composite tanked 2.8% to 2,794.75 while the Shenzhen stock
market was down 4.5% at 801.97. On the data release side the urban
fixed-asset investment rose 25.6% year-on-year in the first five months
to 4.026 trillion Yuan. According to the National Bureau of Statistics
the fixed-asset investment in the property sector was 951.9 billion
Yuan in the first five months, up 31.9 % year-on-year.

Australia's
S&P/ASX 200 index gained 1% to 5,422.70 in the volatile session,
after it dropped as low as 5,310.10 earlier in the day. In economic
news, Reserve Bank of Australia justified the current monetary stance
as an appropriate to deal with the inflationary pressures. According to
the minutes of the meeting held on 3 June, the members noted that the
bulk of indicators becoming available over the preceding month
continued to suggest moderation in domestic demand growth. The
indicators included flat retail sales, declining household and
commercial loan approvals, lower growth in housing and business credit,
and subdued business and consumer confidence.?

In other regional
markets, the South Korea's Kospi lost 0.6% to 1,750.71, after opening
higher while New Zealand's NZX 50 index fell 0.1% to 3,404.57.
Singapore's Straits Times index slipped 0.4% to 3,025.05 and Taiwan's
weighted index gained 0.4% to 8,201.79.?

In the afternoon
trading India's Sensitive Index, or Sensex, was up by 1.5% to 15,626.46
and the broader S&P/CNX Nifty fell 1.5% to 4,638.60.

In
energy trading, July crude-oil futures dipped as much as 10 cents to
$134.51 a barrel in electronic trading. The benchmark contract closed
at $134.61 a barrel on Monday after earlier spiking to an all-time high
of $139.89 during floor trading at the New York Mercantile Exchange.?

In
Asian currency trading, the U.S. dollar bought 107.88 yen, compared
with 108.38 yen late Monday. The greenback changed hands for 108.06 yen
late Monday in New York.

The shares in European markets moved
higher with airlines and automakers advanced supported by decline crude
oil futures from its all time high.

Of national indexes, the
U.K. FTSE 100 index rose 0.6% to 5,828.80, the German DAX 30 index
climbed 0.6% to 6,771.65 and the French CAC-40 index advanced 0.6% to
4,687.41.

On the economic arena, the started with a bang as U.K.
consumer price inflation saw a 0.6% monthly rise in May, pushing the
annual rate to 3.3%, requiring the Bank of England to explain the
reasons for missing the government's 2% inflation target.?

Germany
wasn?t different as the sentiment among German financial analysts and
institutional investors plummeted in June, hitting its lowest level
since December 1992,.?

The Center for European Economic Research
(ZEW) economic expectations index fell to -52.4 points from -41.4
points in May - below its historical average of 29.2 points. That
leaves the closely watched index even below levels seen at the height
of financial turmoil in January 2008.

Meanwhile in Italy, the
trade deficit narrowed in April as exports outpaced imports. The trade
deficit totaled EUR1.0 billion April, compared with a deficit of
EUR1.29 billion in the corresponding period last year. In April,
exports rose 18.8% on the year and 2.7% on the month. Imports rose 17%
on the year and 3.0% on the month.?

Looking ahead the day is
ready to release US Producer Price index data for May that will be
accompanied by housing starts and building permits data. The whole
series will be followed by industrial production and capacity
utilization figures. In the late evening we have a weekly consumer
confidence to be released by ABC/Washington post.

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