Aurobindo Pharma receives IndiaStar 2008 for packaging excellence

23 Sep 2008 | 14:00




Aurobindo Pharma receives IndiaStar 2008 for packaging excellence


Aurobindo Pharma is pleased to announce that its pack design for
Cefpodoxime Proxetil PFOS has been awarded the IndiaStar 2008, the
highest recognition for excellence in packaging in India.

IndiaStar
award is a recognition of excellence in packaging development for
functional design and appeal by Indian Institute of Packaging (IIP).

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Markets likely to open gap down & remain weak through the day following weak global cues

10 Oct 2008 | 10:37 Markets likely to open gap down & remain weak through the day following weak global cues

The Indian Markets managed to recover from the lows on Wednesday, yet closed on a weak note. The BSE Sensex closed at 11328.4, down by 3.1% over Tuesday’s close. After a gap down opening, the Nifty continued to fall & made an intra-day low of 3329.5. However, post noon, it witnessed a sharp pull back & managed to close at 3513.7, down by 2.6% over Tuesday’s close.
The NSE cash turnover stood at Rs. 12819 crores in comparison to Rs. 12804 crores on Tuesday. The market breadth was negative on BSE with the advance-decline ratio of 1:5. All the sectoral indices ended in the red with Consumer Durables, FMCG & IT being the major losers, which fell by 6.8%, 5.2% & 4.9% respectively.

U.S stocks plummeted for a seventh straight session on Thursday as investors bet recent moves by authorities worldwide to thaw frozen credit markets would not be enough to avert a global recession. Dow Jones & Nasdaq decreased by 7.3% & 5.5% respectively. The Indian ADRs closed on a weak
note with Infosys, Wipro & Satyam decreasing by 2%, 7.4% & 3.9%
respectively. Dr. Reddy’s closed down by 5.1%, while HDFC Bank closed down by 5.4%. However, MTNL closed up by 10.4%. Among the Latin American markets, the Mexican markets decreased by 1.8%. Among the Metal prices, Aluminium & Copper decreased by 0.9% & 1.8% respectively, Zinc & Nickel decreased by 2.9% & 4.4% respectively. The light crude oil for November decreased by 2.7% to settle at $86.6 a barrel. Today, the Asian Markets are trading down with Nikkei & Hang Seng trading down by 10.6% & 7.4% respectively, while Shanghai & Singapore Strait are trading down by 3.9% & 6.7% respectively.

On Tuesday, the FIIs were net sellers of Rs. 548 crores in the cash markets, while they were net buyers of Rs. 22 crores in the F&O Markets.
Mutual Funds were net sellers of Rs. 307 crores. As per the provisional figures, FIIs were net sellers of Rs. 1056 crores in the cash market on Wednesday, while they were net sellers of Rs. 205 crores in the F&O markets.

Today, we expect the Markets to open gap down & remain weak through the day following weak global cues.

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Markets expected to open gap down initially following weak global cues, but could recover during the day

30 Sep 2008 | 09:52 Markets expected to open gap down initially following weak global cues, but could recover during the day

The bears continued to dominate the Indian Markets on Monday, as the BSE Sensex witnessed another sharp fall to close at 12595.8, down by 3.9% over Friday’s close. The Nifty opened flat, but soon witnessed huge selling pressure. It slipped sharply & remained weak through the day. However it managed to recover from the intra-day low of 3777.3 & closed at 3850.1, down by 3.4% over Friday’s close. The NSE cash turnover stood at Rs. 13120 crores in comparison to Rs. 10500 crores on Friday. The market breadth was largely in the negative on BSE with the advance-decline ratio of 1:7. All the sectoral indices ended in the red, with Banks, Consumer Durables &
IT indices being the major losers, which fell by 6%, 5.7% & 5.5%
respectively.

The Dow industrials plunged on Monday in their biggest decline ever after U.S. lawmakers unexpectedly rejected a $700 billion financial bailout, spooking investors who fear for the future of global markets and the U.S.
economy. Dow Jones, S&P 500 & Nasdaq decreased by 7%, 9% & 9% respectively.
The Indian ADRs ended sharply lower with Infosys, Wipro & Satyam decreasing by 12.7%, 13.4% & 17.5% respectively. ICICI & HDFC Bank decreased by 12.5% & 16.8% respectively. Tata Communications decreased by 17%. Among the Latin American markets, the Mexican markets decreased by 6.4%, while Brazilian Market closed down by 9.4%. Among the Metal prices, Aluminium & Copper decreased by 2.2% & 4.9% respectively, Zinc & Nickel decreased by 5.7% & 2.9% respectively. The light crude oil for November decreased by 9.8% to settle at $96.37 a barrel. Today, the Asian Markets are trading weak with Nikkei & Hang Seng trading down by 4.7% & 2.7%, while Kospi & Singapore Strait are trading down by 1.9% & 2.3% respectively.

On Friday, the FIIs were net sellers of Rs. 604 crores in the cash markets, while they were net buyers of Rs. 173 crores in the F&O Markets. As per the provisional figures, FIIs were net sellers of Rs. 477 crores in the cash market on Monday, while they were net sellers of Rs. 173 crores in the F&O markets.

Today, we expect the Markets to open gap down initially since the global cues are very negative following the rejection of $700 bn bailout package yesterday by the US lawmakers. However, it could witness intermittent recovery from the lows during the day.

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Markets expected to open in the green following positive global cues, but could run into resistance at higher levels later

01 Oct 2008 | 10:09

Markets expected to open in the green following positive global cues, but could run into resistance at higher levels later The Indian Markets witnessed a sharp recovery from the lows on Tuesday to close on a strong note. The BSE Sensex recovered from an intra-day low of 12153.6, to close at 12860.4, up by 2.1% over Monday’s close. After a weak opening, the Nifty bounced back sharply from the lows. During the day, it made an intra-day high of 3966.9, but witnessed minor correction towards the end before closing at 3921.2, up by 1.9% over Monday’s close. The NSE cash turnover stood at Rs. 14794 crores in comparison to Rs. 13120 crores on Monday. The market breadth was neutral on BSE with the advance-decline ratio of 1:1. Among the sectoral indices, Banks, Capital Goods & Realty were the major gainers, which increased by 4.9%, 3% & 3% respectively. However, Metals & FMCG were the underperformers, which decreased by 1.7% & 0.9% respectively. Wall Street had its best day in six years on Tuesday, a day after its worst sell-off as investors bet Washington would revive the bailout plan to stabilize the U.S. financial sector after its unexpected rejection on Monday. Dow Jones & Nasdaq increased by 4.7% & 5% respectively. The Indian ADRs closed on positive note with Infosys, Wipro & Satyam increasing by 13.5%, 9.5% & 9.8% respectively. ICICI & HDFC Bank increased by 7.7% & 11.6% respectively. Tata Communications increased by 19.2%. Among the Latin American markets, the Mexican markets increased by 3.9%, while Brazilian Market closed up by 7.6%. Among the Metal prices, Aluminium & Copper decreased by 0.6% & 2.3% respectively, Zinc & Nickel decreased by 1.6% & 3.9% respectively. The light crude oil for November increased by 4.4% to settle at $100.6 a barrel. Today, the Asian Markets are trading on a mix note with Nikkei trading up by 1.2%, while Kospi is trading down by 0.8%. However, other Asian Markets like Hang Seng, Shanghai & Singapore Strait are shut today. On Monday, the FIIs were net buyers of Rs. 387 crores in the cash markets. As per the provisional figures, FIIs were net buyers of Rs. 14 crores in the cash market on Tuesday, while they were net buyers of Rs. 792 crores in the F&O markets. Today, we expect the Markets to open up following positive global cues. However, at higher levels it could witness selling pressure later during the day. Among the sectoral indices, IT, Banks & Capital Goods are looking good, while FMCG & Metals continue to look weak & could underperform.

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Sensex closes above 13k after a volatile session Markets closed with gains for the second consecutive day.

01 Oct 2008 | 18:34

Sensex closes above 13k after a volatile session Markets closed with gains for the second consecutive day. Sensex closes above 13k after a volatile session Markets closed with gains for the second consecutive day. It was however a volatile session which saw the markets in negative territory in the morning session. Volumes were low. The recovery came on the hope that the US Congress will clear the bailout package. While the Sensex finally closed 195.24 points or 1.52% higher at 13,055.67, the Nifty gained 29.55pts or 0.75% to close at 3950.75. The broad market indices also ended higher as the BSE Midcap and Smallcap indices gained 0.54% and 0.53% respectively. Market breadth was positive as A/D ratio was 1.31:1 on the BSE. NSE cash turnover was Rs.10,793crs. Vs. Rs.14,794crs. on Tuesday. Barring the BSE Realty and Oil and Gas indices, all the sectoral indices ended with gains. The top gainers were the BSE IT, Bankex, Consumer Durables and FMCG indices. The top gainers from the BSE-30 were Satyam, JP Associates, HDFC Bank, Grasim, Tata Power and Infosys. The top losers were L&T, DLF, Reliance and Tata Motors. With the markets holding on to gains for the last two sessions, it remains to be seen if the markets can move further up. This would however depend on the global developments in the next few days. The long term trend nevertheless remains down and we remain open to the possibilities of the markets making new lows for this year. We recommend a cautious approach towards fresh positions.

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Markets could open down following weak global cues & remain volatile ahead of the weekly inflation data today

03 Oct 2008 | 10:39 Markets could open down following weak global cues & remain volatile ahead of the weekly inflation data today

The Indian Markets closed on a strong note on Wednesday with the BSE Sensex closing at 13055.7, down by 1.5% over Tuesday’s close. After opening marginally in the green, the Nifty witnessed selling pressure & made an intra-day low of 3861.25. However, it recovered well from those lows & gained strength through the day, making an intra-day high of 4000.5.
Towards the end, it once again witnessed a minor correction & closed at 3950.75, up by 0.8% over Tuesday’s close. The NSE cash turnover stood at Rs. 10793 crores in comparison to Rs. 14794 crores on Tuesday. The market breadth was positive on BSE with the advance-decline ratio of 1:0.75. Among the sectoral indices, IT, Banks & Consumer Durables were the major gainers, which increased by 4%, 3.2% & 3% respectively. However, Realty & Oil & Gas were the underperformers, which decreased by 2.3% & 1.1% respectively.

U.S. markets slid on Thursday as tight credit markets and bleak economic data forced investors to focus on the rocky road still ahead for the U.S. economy even if Congress passes a $700 billion rescue package this week.
Dow Jones & Nasdaq decreased by 3.2% & 4.5% respectively. The Indian ADRs closed on a mix note with Infosys, Wipro & Satyam decreasing by 5.6%, 4% & 3.5% respectively. HDFC Bank decreased by 1.4%, while ICICI Bank increased by 2.3%. Tata Communications increased by 1.2%, while MTNL closed down by 4%. Among the Latin American markets, the Mexican markets decreased by 4.3%, while Brazilian Market closed down by 7.3%. Among the Metal prices, Aluminium & Copper decreased by 1.2% & 2.8% respectively, Zinc & Nickel decreased by 0.6% & 1.6% respectively. The light crude oil for November increased by 4.6% to settle at $93.97 a barrel. Today, the Asian Markets are trading down with Nikkei & Hang Seng trading down by 1.4% & 2% respectively, while Singapore Strait is trading down by 1.8% respectively.

On Tuesday, the FIIs were net buyers of Rs. 85 crores in the cash markets.
As per the provisional figures, FIIs were net sellers of Rs. 275 crores in the cash market on Wednesday, while they were net buyers of Rs. 433 crores in the F&O markets.

Today, we expect the Markets to open down following weak global cues & remain volatile ahead of the weekly inflation data. Among the sectoral indices, Banks & Consumer Durables are looking good, while IT, Realty & Oil & Gas indices are looking weak.

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Markets in decline mode after two sessions of gains It was a dreadful day for the markets as the markets closed sharply lower.

03 Oct 2008 | 18:32

Markets in decline mode after two sessions of gains It was a dreadful day for the markets as the markets closed sharply lower. While the Sensex finally closed 529.35 points or 4.05% lower at 12,526.32, the Nifty lost 132.45 pts or 3.35% to close at 3818.30. The broad market indices also ended lower as the BSE Midcap and Smallcap indices lost 3.03% and 2.52% respectively. Market breadth was negative as A/D ratio was 0.35:1 on the BSE. NSE cash turnover was Rs.11,892crs. Vs. Rs.10,793crs. on Wednesday. All the sectoral indices ended lower. The top losers were the BSE Metals, Oil and Gas, Consumer Durables and Bankex. The indices that lost the least were the BSE FMCG and Auto indices. The top gainers from the BSE-30 were Ranbaxy, M&M and HUL. The top losers were Tata Steel, ICICI bank, Sterlite, RIL and Tata Power. After two days of gains, markets have once again resumed their downtrend by closing lower today. We continue with our strategy of adopting a go slow approach on fresh long positions as the medium and long term trend continue to remain down.

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Bears in attack mode

06 Oct 2008 | 00:00 Bears in attack mode

A big carnage was seen on Dalal Street today as the bears took complete control. Jittery global markets played a key role in today’s fall as markets across Asia and Europe were all trading sharply lower. While the Sensex finally closed 724.62 points or 5.78% lower at 11,801.70, the Nifty lost 215.95 pts or 5.66% to close at 3602.35. The broad market indices also ended sharply lower as the BSE Midcap and Smallcap indices lost 7.13% and 6.92% respectively. Market breadth was pathetic as more than eight stocks declined for every one stock that rose on the BSE. NSE cash turnover was Rs.10,367crs. Vs. Rs.11,892crs. on last Friday.

All the sectoral indices ended lower. The top losers were the BSE Consumer Durables, Realty, Metals, Capital goods and Power indices. The top losers from the BSE-30 were Sterlite, Reliance Infra, JP Associates, Tata steel, DLF and Tata Power. There were no gainers from the BSE-30 index.

The bears continue to remain in control as the main indices have made new 2008 lows. While there could be bounce backs in the coming sessions, the underlying trend continues to remain down. We recommend using any upsides to exit from long positions entered into at higher levels and initiate fresh shorts.

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Markets expected to open gap down & remain weak through the day following negative global cues

06 Oct 2008 | 10:01 Markets expected to open gap down & remain weak through the day following negative global cues

The Indian Markets witnessed a huge sell off on Friday, as the BSE Sensex closed on a weak note at 12526.3, down by 4.1% over Wednesday’s close.
After opening down, the Nifty made an attempt to recover in the early hour of trade. However, it couldn’t enter in the positive terrain & thereafter witnessed a huge sell-off through the entire session. Towards the end it made an intra-day low of 3804.9 before it managed to recover slightly to close at 3818.3, down by 3.4% over Wednesday’s close. The NSE cash turnover stood at Rs. 11892 crores in comparison to Rs. 10793 crores on Wednesday.
The market breadth was negative on BSE with the advance-decline ratio of 1:3. All the sectoral indices ended in the red, with Metals, Oil & Gas & Consumer Durables being the major losers, decreasing by 7%, 5.7% & 4.2% respectively.

Wall Street ended its worst week in seven years with another tumble on Friday on fears that the $700 billion financial rescue package may not unblock credit markets & stave off a U.S. recession. Dow Jones & Nasdaq decreased by 1.5% each. The Indian ADRs closed on a weak note with Infosys & Satyam decreasing by 3.3% & 3.6% respectively. However, Wipro increased by 1.8%. ICICI Bank decreased by 7%, while Tata Communications decreased by 7.9%. Among the Latin American markets, the Mexican markets decreased by 4.3%, while Brazilian Market closed down by 3.5%. Among the Metal prices, Aluminium & Copper decreased by 4% & 4.9% respectively, Zinc & Nickel decreased by 4.6% & 3.4% respectively. The light crude oil for November ended flat at $93.88 a barrel. Today, the Asian Markets are trading down with Nikkei & Hang Seng trading down by 3.6% & 3% respectively, while Kospi & Shanghai are trading down by 4.2% & 3.6% respectively. Even Singapore Strait is trading down by 2.5%.

On Wednesday, the FIIs were net sellers of Rs. 284 crores in the cash markets. As per the provisional figures, FIIs were net sellers of Rs. 1662 crores in the cash market on Friday, while they were net sellers of Rs. 89.4 crores in the F&O markets.

Today, we expect the Markets to open gap down & remain weak through the day, following negative global cues.

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Markets expected to open flat to marginally up & rise further during the day on account of ease in P-note restrictions & CRR cut

07 Oct 2008 | 09:51 Markets expected to open flat to marginally up & rise further during the day on account of ease in P-note restrictions & CRR cut

The Indian Markets continued its downfall on Monday, as the BSE Sensex breached 12000 levels to close deep in the red at 11801.7, down by 5.8% over Friday’s close. After a gap down opening, the Nifty continued to slide further through the day. However, towards the end, it managed to recover from an intra-day low of 3581.6 to close at 3602.4, down by 5.7% over Friday’s close. The NSE cash turnover stood at Rs. 10367 crores in comparison to Rs. 11892 crores on Friday. The market breadth was negative on BSE with the advance-decline ratio of 1:8. All the sectoral indices ended in the red, with Consumer Durables, Realty & Metals being the major losers, decreasing by 11%, 9.9% & 9.3% respectively.

The U.S. stocks slid for a fourth straight day on Monday, leaving the Dow below 10,000 for the first time in four years, on fears that the global economy was hurtling into recession despite government efforts to contain the fast-spreading financial crisis. Dow Jones & Nasdaq decreased by 3.6% & 4.3% respectively. The Indian ADRs closed on a weak note with Infosys, Wipro & Satyam decreasing by 5.6%, 1.9% & 6.1% respectively. ICICI & HDFC Bank decreased by 9.4% & 12.8% respectively. Dr. Reddy's was down by 8.9%. Among the Latin American markets, the Mexican markets decreased by 5.4%. Among the Metal prices, Aluminium & Copper decreased by 2% & 4.6% respectively, Zinc & Nickel decreased by 2.2% & 5.7% respectively. The light crude oil for November decreased by 6.5% to settle at $87.8 a barrel. Today, the Asian Markets are trading down with Nikkei & Kospi trading down by 3.1% & 0.2% respectively, while Shanghai is trading down by 1.7%. However, Singapore Strait is trading up by 1.7%.

On Friday, the FIIs were net sellers of Rs. 1046 crores in the cash markets, while Mutual Funds were net sellers of Rs. 343 crores. As per the provisional figures, FIIs were net sellers of Rs. 1169 crores in the cash market on Monday, while they were net sellers of Rs. 1209 crores in the F&O markets.

Today, we expect the Markets to open flat to marginally up & rise further during the day on account of ease in P-note restrictions & CRR cut by 50 bps yesterday.

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Sensex in the red while Nifty closes with a gain Markets ended on a mixed note amid extreme choppiness.

07 Oct 2008 | 18:38 Sensex in the red while Nifty closes with a gain Markets ended on a mixed note amid extreme choppiness.

Sensex in the red while Nifty closes with a gain Markets ended on a mixed note amid extreme choppiness. The Nifty managed to close above 3600 while the Sensex struggled to claw back above 12000 mark but failed to end above that level. The 50 bps CRR cut by RBI did not seem to have any major positive effect on the markets.

While the Sensex finally closed 106.46 points or 0.90% lower at 11,695.24, the Nifty ended with a marginal gain of 4.25pts or 0.12% to close at 3606.60. The broad market indices underperformed as the BSE Midcap and Smallcap indices lost 2.0% and 2.17% respectively. Market breadth was negative as more than two stocks declined for every one stock that rose on the BSE. NSE cash turnover was Rs.12,804crs. Vs. Rs.10,367crs. on Monday.

Most of the sectoral indices ended lower. The top losers were the BSE Capital goods, IT, Bankex, Realty and FMCG indices. The indices that gained were the BSE Oil and Gas and Power. The top losers from the BSE-30 were TCS, L&T, Sterlite, HDFC Bank, M&M and Satyam. The top gainers were NTPC, Ranbaxy, BHEL, Bharti Airtel and Reliance.

Markets were in indecisive mode today as evidenced by the extreme volatility and choppiness. The underlying trend nevertheless remains down and while there could be bounce backs in the coming sessions, we recommend using these upsides to exit from long positions entered into at higher levels and initiate fresh shorts.

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Markets expected to open gap down following weak global cues

08 Oct 2008 | 10:02 Markets expected to open gap down following weak global cues

The Indian Markets witnessed a highly volatile session on Tuesday, as the BSE Sensex witnessed a huge intra-day swing of 680 points from a high of
12181.4 to finally close down by 0.9% at 11695.2. After opening on a strong note & making an intra-day high of 3732.6, the Nifty witnessed huge selling pressure & slipped in the negative terrain. It remained highly volatile through the entire session, making an intra-day low of 3537. However, it managed to recover from those lows during the last two hours of trade to close on a note at 3606.6. The NSE cash turnover stood at Rs. 12804 crores in comparison to Rs. 10367 crores on Monday. The market breadth was negative on BSE with the advance-decline ratio of 0.4:1. Among the sectoral indices, Oil & Gas & PSUs were the outperformers, which increased by 1.3% & 0.8% respectively. However, Capital Goods & IT were the major losers, which fell by 4% & 3% respectively.

The U.S. stocks tumbled for a fifth straight session on Tuesday, capping the Dow's biggest five-day point loss ever, as fears mounted that the rapidly spreading credit crisis would drag the economy into a deep recession. Dow Jones & Nasdaq decreased by 5.1% & 5.8% respectively. The Indian ADRs closed sharply lower with Infosys, Wipro & Satyam decreasing by 4.5%, 14.6% & 7.8% respectively. ICICI & HDFC Bank decreased by 3.2% & 6.1% respectively. MTNL closed down by 18.9%. Among the Latin American markets, the Mexican markets decreased by 4%, while the Brazilian Markets fell by 4.7%. Among the Metal prices, Aluminium & Copper increased by 0.8% & 0.2% respectively, while Zinc & Nickel decreased by 0.6% & 1.8% respectively.
The light crude oil for November increased by 2.6% to settle at $90.1 a barrel. Today, the Asian Markets are trading down with Nikkei & Hang Seng trading down by 4.5% & 5.6% respectively, while Shanghai & Singapore Strait are trading down by 3% & 3.8% respectively.

On Monday, the FIIs were net sellers of Rs. 1121 crores in the cash markets, while Mutual Funds were net sellers of Rs. 230 crores. As per the provisional figures, FIIs were net sellers of Rs. 680 crores in the cash market on Tuesday, while they were net buyers of Rs. 21 crores in the F&O markets.

Today, we expect the Markets to open gap down following weak global cues.

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Markets pull back smartly after plunging in the morning Markets opened sharply lower on the back of the news that the US House of Representatives defe

30 Sep 2008 | 19:13 Markets pull back smartly after plunging in the morning Markets opened sharply lower on the back of the news that the US House of Representatives defeated the USD 700 billion bailout plan in a 205-228 vote.

Markets pull back smartly after plunging in the morning Markets opened sharply lower on the back of the news that the US House of Representatives defeated the USD 700 billion bailout plan in a 205-228 vote. They however pulled back sharply after Finance Minister and RBI clarifications on our present banking and financial system. The rally was led by banking, capital goods, power, realty, telecom and oil and gas stocks. Smart recovery in European markets and positive Dow futures also helped our markets a bit.

While the Sensex finally closed 264.68 points or 2.1% higher at 12,860.43, the Nifty gained 71.15 pts or 1.85% to close at 3921.20. The broad market indices also ended higher as the BSE Midcap and Smallcap indices gained 1.46% and 0.44% respectively. Market breadth was marginally negative as A/D ratio was 0.97:1 on the BSE. NSE cash turnover was Rs.14,794crs. Vs.
Rs.13,119crs. on Monday.

Most of the sectoral indices ended higher. The top gainers were the BSE Bankex, Capital goods, Realty, Consumer Durables and Power indices. The indices that ended lower were the BSE Metals and FMCG indices. The top gainers from the BSE-30 were ICICI Bank, TCS, HDFC, Bharti Airtel and BHEL.
The top losers were Tata Steel, Tata Motors, Ranbaxy, Grasim and Tata Power.

The 3790 supports has proved to be a very strong support as though the Nifty opened below these levels and touched an intra day low of 3719.55, it quickly recovered to close above these levels. The long term trend nevertheless remains down and we remain open to the possibilities of the markets making new lows for this year. The short term direction is likely to be influenced more by global events in the next few sessions.

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Markets tumble once again but recover from the lows It was another terrible session at Dalal Street as benchmark

08 Oct 2008 | 18:25 Markets tumble once again but recover from the lows It was another terrible session at Dalal Street as benchmark

Markets tumble once again but recover from the lows It was another terrible session at Dalal Street as benchmark indices got crushed in line with the global markets meltdown. They however managed to recover in second half of session and ended off the day's low.

While the Sensex finally closed 366.88 points or 3.14% lower at 11,328.36, the Nifty ended with a loss of 92.95pts or 2.58% to close at 3513.65. The broad market indices underperformed as the BSE Midcap and Smallcap indices lost 5.79% and 5.57% respectively. Market breadth was negative as almost five stocks declined for every one stock that rose on the BSE. NSE cash turnover was Rs.12,819crs. Vs. Rs.12,804crs. on Tuesday.

All the sectoral indices ended lower. The top losers were the BSE Consumer Durables, FMCG, IT, Bankex and Metals indices. The top gainers from the BSE-30 were Ranbaxy, Tata Power, M&M, Maruti and DLF. The top losers were JP Associates, Wipro, Sterlite, ICICI Bank and SBI.

With the markets bouncing back sharply from the lows, there is a possibility that the pullback rally could continue for at least the next few sessions. The Nifty could however find resistance between the 3600-3800 levels. We continue with our strategy of using any upsides to exit from long positions entered into at higher levels and initiate fresh shorts.

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Markets expected to open flat to down, but could witness a pullback later during the day.

29 Sep 2008 | 10:02
Markets expected to open flat to down, but could witness a pullback later during the day.

The Indian Market continued its downtrend on Friday, as the BSE Sensex closed at 13102.2, down by 3.3% over Thursday’s close. The Nifty opened down on account of negative global cues & remained weak through the day.
Towards the end it made an intra-day low of 3970.35 before closing at 3985.25, down by 3.1% over Thursday’s close. The NSE cash turnover stood at Rs. 10500 crores in comparison to Rs. 15311 crores on Thursday. The market breadth was negative on BSE with the advance-decline ratio of 1:5. Among the sectoral indices, only FMCG outperformed, increasing by 1%. However, the rest of the indices ended in the red with Realty, Metals & Banks falling the most by 6.3%, 4.8% & 4.3% respectively.

The US markets closed on a positive note on Friday on hopes that Congress would come up with a deal on the proposed package to rescue the beleaguered U.S. financial sector & contain fallout from the global credit crisis. Dow Jones & S&P 500 increased by 1.1% & 0.3% respectively. However, Nasdaq closed marginally down by 0.2%. The Indian ADRs ended weak with Infosys, Wipro & Satyam decreasing by 1.8%, 2.8% & 1.2% respectively. ICICI & HDFC Bank decreased by 9.1% & 4% respectively. Tata Communications decreased by 10.1%. Among the Latin American markets, the Mexican markets decreased by 0.2%, while Brazilian Market closed down by 2%. Among the Metal prices, Aluminium & Copper increased by 1.2% & 0.3% respectively, Zinc & Nickel increased by 1.5% & 1.7% respectively. The light crude oil for November decreased by 1.1% to settle at $106.9 a barrel. Today, the Asian Markets are trading weak with Hang Seng & Singapore trading down by 1.9% & 0.4%, while Kospi is trading down by 1.1%.

On Thursday, the FIIs were net sellers of Rs. 704 crores in the cash markets, while they were net sellers of Rs. 420 crores in the F&O Markets.
Mutual Funds were net buyers of Rs. 379 crores. As per the provisional figures, FIIs were net sellers of Rs. 643 crores in the cash market on Friday, while they were net buyers of Rs. 173 crores in the F&O markets.

Today, we expect the Markets to open flat to down initially. However, it could witness a pullback later, since the U.S. House of Representatives approved the nuclear agreement on Saturday. Also the $700 bn bailout package is close to getting finalized, which could improve the market sentiments.

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Markets expected to open down initially following weak Asian cues, but could recover from the lows later during the day

26 Sep 2008 | 09:56
Markets expected to open down initially following weak Asian cues, but could recover from the lows later during the day

The Indian Markets closed on a weak note on Thursday with the BSE Sensex closing at 13547.2 down by 1.1% over Wednesday’s close. After opening flat, the Nifty started showed signs of weakness. Selling pressure pulled the Nifty down through the day. However, after making an intra-day low of 4077.5, it recovered towards the end to close at 4110.6, down by 1.2% over Wednesday's close. The NSE cash turnover stood at Rs. 15311 crores in comparison to Rs. 11829 crores on Wednesday. The market breadth was negative on BSE with the advance-decline ratio of 1:2. Among the sectoral indices, Autos ended marginally in the positive by 0.1%, while the rest of the indices ended in the red with IT, TECk & Realty falling the most by 2% each.

Wall Street snapped a three-day losing streak on Thursday as Congress closed in on a deal for a $700 billion financial-sector bailout that investors hope will thaw credit markets and revive lending. Dow Jones & Nasdaq increased by 1.8% & 1.4% respectively. The Indian ADRs ended on a positive note with Infosys, Wipro & Satyam increasing by 1.7%, 5.4% & 3.2% respectively. Tata Communications & MTNL increased by 16.9% & 11.8% respectively. However, ICICI Bank decreased by 1.1%. Among the Latin American markets, the Mexican markets increased by 2.8%, while Brazilian
Market closed up by 4%. Among the Metal prices, Aluminium & Copper
decreased by 1.1% & 1.8% respectively, Zinc & Nickel decreased by 0.4% & 0.7% respectively. The light crude oil for October increased by 2.7% to settle at $108 a barrel. Today, the Asian Markets are trading weak with Hang Seng & Shanghai trading down by 1.2% & 0.5% respectively. Nikkei & Singapore Strait are trading down by 0.2% & 1.2% respectively.

On Wednesday, the FIIs were net sellers of Rs. 174 crores in the cash markets, while they were net sellers of Rs. 110 crores in the F&O Markets.
Mutual Funds were net sellers of Rs. 226 crores. As per the provisional figures, FIIs were net sellers of Rs. 1050 crores in the cash market on Thursday, while they were net sellers of Rs. 420 crores in the F&O markets.

Today, we expect the Markets to open down initially following weak Asian cues. However, it could witness some recovery from the lows later during the day.

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Bears in control on derivative expiry day It was derivative expiry day and markets remained under selling pressure though they managed to trim the los

25 Sep 2008 | 18:23
Bears in control on derivative expiry day It was derivative expiry day and markets remained under selling pressure though they managed to trim the losses to some extent.

Bears in control on derivative expiry day It was derivative expiry day and markets remained under selling pressure though they managed to trim the losses to some extent. While the Sensex finally closed 145.34 points or 1.06% lower at 13,547.18, the Nifty lost 50.70 pts or 1.22% to close at 4110.55. The broad market indices also ended lower as the BSE Midcap and Smallcap indices shed 0.66% and 0.84% respectively. Market breadth was negative as A/D ratio was 0.53:1 on the BSE. NSE cash turnover was Rs.15,311crs. Vs.Rs.11,829crs. on Wednesday.

Barring the Auto index , all the sectoral indices ended lower. The top losers were the IT, Realty, Power and Consumer Durable indices. Gainers from the BSE-30 were HDFC Bank, ONGC, L&T, Maruti and NTPC. Top losers were Wipro, Ranbaxy, Hindalco, Grasim and TCS.

The markets have once again resumed their downward journey after
yesterday’s bounce back. We believe the markets are headed lower in the coming sessions as the medium and long term trend continues to remain down.
Any upsides are likely to find resistance at 4200-4300 on the Nifty. We recommend a go slow approach on fresh long positions.

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Markets expected to open flat & remain cautious ahead of weekly inflation data & derivatives expiry today

25 Sep 2008 | 10:07
Markets expected to open flat & remain cautious ahead of weekly inflation data & derivatives expiry today

The Indian Markets ended Wednesday’s session with decent gains amidst intra-day day volatility. The BSE Sensex closed at 13692.5, up by 0.9% over Tuesday’s close. After a positive opening, the Nifty strengthened further & made an intra-day high of 4207.95. However, it witnessed selling pressure at those levels & corrected, thus giving up almost all its gains. Towards the end, it managed to recover from the lows & closed up 0.8% at 4161.3.
The NSE cash turnover stood at Rs. 11829 crores in comparison to Rs. 10610 crores on Tuesday. The market breadth was positive on BSE with the advance-decline ratio of 1:0.9. Among the sectoral indices, Metals, Oil & Gas & Banks outperformed, increasing by 2.2%, 1.2% & 1.2% respectively.
However, Consumer Durables & IT indices were the major losers, which fell by 1.2% & 1.1% respectively.

The Dow and S&P 500 edged lower by 0.3% & 0.2% respectively on Wednesday as uncertainty about when Congress might approve a proposed $700 billion financial sector bailout offset Warren Buffett's $5 billion bet on Goldman Sachs. However, Nasdaq closed marginally up by 0.1%. The Indian ADRs ended mix with Infosys & Satyam decreasing by 4.3% & 0.7% respectively. However, Wipro went up by 1.3%. Tata Motors closed down by 5.2%, while ICICI & HDFC Bank closed up by 6.7% & 3.2% respectively. Among the Latin American markets, the Mexican markets decreased by 0.1%, while Brazilian Market went up by 0.5%. Among the Metal prices, Aluminium & Copper decreased by 1.6% & 2% respectively, Zinc & Nickel decreased by 1.6% & 2.1% respectively. The light crude oil for October decreased by 0.8% to settle at $105.7 a barrel.
Today, the Asian Markets are trading on a mix note with Hang Seng & Shanghai trading up by 1.1% & 4.2% respectively. However, Nikkei & Singapore Strait are trading down by 0.9% & 0.5% respectively.

On Tuesday, the FIIs were net sellers of Rs. 868 crores in the cash markets, while they were net sellers of Rs. 275 crores in the F&O Markets.
Mutual Funds were net sellers of Rs. 226 crores. As per the provisional figures, FIIs were net sellers of Rs. 494 crores in the cash market on Wednesday, while they were net sellers of Rs. 110 crores in the F&O markets.

Today, we expect the Markets to open flat & remain cautious ahead of weekly inflation data & derivatives expiry. Among the sectors, Metals, Oil & Gas & Banks continue to look positive, while IT & Consumer Durables are looking weak & could underperform

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Markets butchered as global uncertainty continues Markets got butchered in late trade and ended with sharp losses.

23 Sep 2008 | 18:25
Markets butchered as global uncertainty continues Markets got butchered in late trade and ended with sharp losses.

Major draggers were Infosys, ICICI Bank, HDFC, HDFC Bank, Reliance Industries, SBI, Satyam, L&T and Tata Steel. The fall was in line with European and Asian markets as there is uncertainty on the USD 700 billion bailout package announced by the US Treasury. Rising crude was another factor which fueled the negative sentiment.

While the Sensex finally closed 424.65 points or 3.03% lower at 13,570.31, the Nifty lost 96.15 pts or 2.28% to close at 4126.90. The broad market indices also ended lower as the BSE Midcap and Smallcap indices lost 2.06% and 1.63% respectively. Market breadth was negative as A/D ratio was 0.42:1 on the BSE. NSE cash turnover was Rs.10,610crs. Vs. Rs.11,519crs. on Monday.

All the sectoral indices ended lower. The top losers were the BSE IT, Realty and Bankex. Top Gainers from the BSE-30 were ACC and Tata Power. Top losers were Ranbaxy, DLF, Satyam, TCS and Wipro.

The markets seem to be once again under the grip of the bears as the main indices continue to witness selling pressure. The coming sessions could see the Nifty test the 4000-3800 support levels. We continue with our wait and watch approach with respect to fresh long positions.

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Markets expected to open down & remain weak through the day following negative global cues

23 Sep 2008 | 10:32
Markets expected to open down & remain weak through the day following negative global cues

Monday was a session of consolidation as the Indian Markets traded in a narrow range through the day & closed marginally in the red. The BSE Sensex closed at 13995, down by 0.3% over Friday’s close. The Nifty made a positive opening & made an intra-day high of 4303.25 in the first ten minutes. However, it couldn’t sustain at those high levels & started showing signs of weakness. Post noon, it slipped in the negative terrain to make an intra-day low of 4202.4. Towards the end, it managed to recover slightly & closed at 4223.1, down by 0.5% over Friday's close. The NSE cash turnover stood at Rs. 11519 crores in comparison to Rs. 16294 crores on Friday. The market breadth was neutral on BSE with the advance-decline ratio of 1:1. Among the sectoral indices, FMCG & Metals were the outperformers, which increased by 1.4% & 1% respectively. Capital Goods &
Power indices were the major losers, which fell by 2.2% & 1.6%
respectively.

The U.S. markets tumbled on Monday as investors worried that $700 billion bailout for the financial sector may not resuscitate a slumping economy, while a record spike in oil prices renewed concern about consumer spending.
Dow Jones & Nasdaq decreased by 3.3% & 4.2% respectively. The Indian ADRs ended in the red with Infosys, Wipro & Satyam decreasing by 4%, 11.2% & 3.6% respectively. Tata Motors decreased by 6.2%. ICICI & HDFC Bank closed down by 7.8% & 4.4% respectively. Among the Latin American markets, the Mexican & Brazilian markets decreased by 2.2% & 2.9% respectively. Among the Metal prices, Aluminium & Copper increased by 1.6% & 3.9% respectively, while Zinc & Nickel increased by 4.9% & 3.9% respectively. The light crude oil for October increased sharply by 14% to settle at $120 a barrel. Today, the Asian Markets are trading down with Hang Seng & Singapore Strait trading up by 2.9% & 2.4% respectively, while Shanghai is trading down by 1.1%.

On Friday, the FIIs were net buyers of Rs. 1168 crores in the cash markets, while Mutual Funds were net buyers of Rs. 168 crores. As per the provisional figures, FIIs were net buyers of Rs. 138 crores in the cash market on Monday, while they were net buyers of Rs. 512 crores in the F&O markets.

Today, we expect the Markets to open down & remain weak through the day following negative global cues. However intra-day bounces from the lows cannot be ruled out. Among the sectoral indices, Capital Goods & Power look weak & could underperform.

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Markets recover after yesterday’s sell-off Markets rebounded today after the sell-off seen yesterday, though they closed off the day's high.

24 Sep 2008 | 18:32
Markets recover after yesterday’s sell-off Markets rebounded today after the sell-off seen yesterday, though they closed off the day's high.

Markets recover after yesterday’s sell-off Markets rebounded today after the sell-off seen yesterday, though they closed off the day's high. While the Sensex finally closed 122.21 points or 0.90% higher at 13,692.52, the Nifty gained 34.35 pts or 0.83% to close at 4161.25. The broad market indices also ended higher as the BSE Midcap and Smallcap indices gained 0.26% and 0.14% respectively. Market breadth was marginally positive as A/D ratio was 1.09:1 on the BSE. NSE cash turnover was Rs.11,829.24crs. Vs. Rs.10,610crs. on Tuesday.

Barring the IT and Consumer Durables indices, all the sectoral indices ended higher. The top gainers were the Metal, Oil and Gas, Bankex and Power indices. Gainers from the BSE-30 were Sterlite, HDFC Bank, Tata Steel and Rel Infra. Top losers were Wipro, Tata Motors, Infosys and TCS.

While the markets have rebounded, the upmove was not accompanied with healthy market breadth. This indicates that today’s upmove was more of a technical bounce. We believe the markets are headed lower in the coming sessions as the medium and long term trend continues to remain down. The Nifty is likely to test the 4000-3800 support levels once the 4100 supports are broken.

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Markets expected to open up initially, but could witness selling pressure at higher levels

24 Sep 2008 | 10:17
Markets expected to open up initially, but could witness selling pressure at higher levels

The Indian Markets closed on a weak note on Tuesday with the BSE Sensex closing at 13995, down by 3% over Monday’s close. After opening on a weak note, the Nifty recovered well from the lows. However, at 4224.7, it started showing signs of weakness once again & post noon, witnessed huge sell off to make an intra-day low of 4117.9, before closing at 4126.9, down by 2.3% over Monday’s close. The NSE cash turnover stood at Rs. 10610 crores in comparison to Rs. 11519 crores on Monday. The market breadth was negative on BSE with the advance-decline ratio of 0.4:1. All the sectoral indices ended in the red with IT, Realty & Banks being the major losers, decreasing by 5.1%, 4.7% & 4.2% respectively.

The U.S. markets fell on Tuesday on fear that congressional wrangling could delay a proposed $700 billion plan to rescue the financial sector, increasing worries about the struggling U.S. economy. Dow Jones & Nasdaq decreased by 1.5% & 1.2% respectively. The Indian ADRs ended mix with Infosys, Wipro & Satyam decreasing by 4.8%, 6.8% & 2.4% respectively. HDFC Bank & MTNL closed up by 5.7% & 5.4% respectively. Among the Latin American markets, the Mexican markets decreased by 0.7%. Among the Metal prices, Aluminium & Copper decreased by 1.2% & 0.6% respectively, Zinc & Nickel decreased by 1.6% & 2% respectively. The light crude oil for October decreased by 2.5% to settle at $106.6 a barrel. Today, the Asian Markets are trading on a mix note with Nikkei & Shanghai trading down by 1.2% & 2.3% respectively. However, Hang Seng & Singapore Strait are trading up by 1.6% & 0.4% respectively.

On Monday, the FIIs were net buyers of Rs. 111 crores in the cash markets, while they were net buyers of Rs. 512 crores. Mutual Funds were net sellers of Rs. 332 crores. As per the provisional figures, FIIs were net sellers of Rs. 924 crores in the cash market on Tuesday, while they were net sellers of Rs. 275 crores in the F&O markets.

Today, we expect the Markets to open up initially. However, at higher levels, it could witness selling pressure. Among the sectoral indices, Oil & Gas, FMCG & PSUs are looking good, while IT & Realty continue to remain weak

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Markets end with a marginal loss

22 Sep 2008 | 18:38
Markets end with a marginal loss

Markets witnessed a choppy session as the main indices traded within a narrow range. They finally closed with a marginal loss. This was despite the positive news that the US treasury may increase bailout package to USD 700 billion.

The Sensex finally closed 47.36 points or 0.34% lower at 13,994.96. The Nifty lost 22.20 pts or 0.52% to close at 4223.05. The broad market indices also ended lower as the BSE Midcap and Smallcap indices lost 0.15% and 0.35% respectively. Market breadth was marginally negative as A/D ratio was
0.91:1 on the BSE. NSE cash turnover was Rs.11,519crs. Vs. Rs.16,294crs.
last Friday.

Barring the FMCG and Metals indices, all the sectoral indices ended lower.
The top losers were the BSE Capital goods, Power, Auto, IT and Oil and gas indices. Top Gainers from the BSE-30 were ACC, Tata Steel, ITC, HUL, Bharti airtel and Grasim. Top losers were Satyam, JP associates, Maruti, Ranbaxy and Hindalco.

Markets were finding it difficult to move above the resistance levels inspite of the positive global cues today. The Nifty failed to cross the 4300 levels. A continued failure in the coming sessions could lead to the markets drifting lower once again and testing the 4000-3800 levels. We recommend a wait and watch approach with respect to fresh long positions.

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Markets expected to open up initially but could run into resistance at higher levels

22 Sep 2008 | 00:00
Markets expected to open up initially but could run into resistance at higher levels

On Friday, the Indian Markets registered a smart rally with the BSE Sensex closing at 14042, up by 5.5% over Thursday’s close. After a gap up opening, the Nifty continued to show strength through the entire trading session.

Towards the end, it made an intra-day high of 4262.7 before closing at 4245.3, up by 5.1% over Thursday’s close. The NSE cash turnover stood at Rs. 16294 crores in comparison to Rs. 16088 crores on Thursday. The market breadth was positive on BSE with the advance-decline ratio of 1:0.4. All the sectoral indices ended in the green, with Realty, IT & TECk being the outperformers, which increased by 7.6%, 6.7% & 5.9% respectively.

Sweeping government measures to rescue the financial system and restore confidence in shaky markets spurred a huge relief rally in U.S. stocks on Friday. Dow Jones & Nasdaq both increased by 3.4%. The Indian ADRs ended in the green with Infosys, Wipro & Satyam increasing by 10.3%, 11.1% & 13% respectively. ICICI & HDFC Bank closed up by 7.6% & 6% respectively.

However MTNL closed down by 1%. Among the Latin American markets, the Mexican & Brazilian markets increased by 4.6% & 9.6% respectively. Among the Metal prices, Aluminium, Copper & Nickel decreased by 0.5%, 0.2% & 2% respectively, while Zinc increased by 0.1%. The light crude oil for October increased by 6.4% to settle at $104.6 a barrel. Today, the Asian Markets are trading on a mix note with Nikkei & Shanghai up by 2% & 6.5% respectively. However, Hang Seng is trading down by 0.5%, while Singapore Strait is trading flat.

On Thursday, the FIIs were net sellers of Rs. 599 crores in the cash markets, while they were net buyers of Rs. 996 crores in the F&O markets. Mutual Funds were net buyers of Rs. 940 crores. As per the provisional figures, FIIs were net buyers of Rs. 1016 crores in the cash market on Friday, while they were net buyers of Rs. 3980 crores in the F&O markets.

Today, we expect the Market's to open up initially. However, at higher levels it could witness profit taking after a sharp run up on Friday.

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Up, Up and away

19 Sep 2008 | 18:27
Up, Up and away

It was a spectacular session for the Indian markets as they rose through out the day. The gains came on the back of strong global cues on hopes that the US government is on the way to consider a comprehensive plan to rescue financial firms from the debt trap situation and to end this credit crisis running for more than 10 months. US markets received a further boost on the announcement that the US market regulator SEC had halted short-selling of financial stocks in the US.

Asian markets too were sharply up as the Shanghai gained 10% in today's trade followed by Hang Seng with a gain of 9.61% at close. The Nikkei was up 3.76%. European shares surged higher as the FTSE was up nearly 8%. This was the index’s biggest rally ever after the news that UK financial regulators had also temporarily banned the short-selling of some financial stocks.

All this positive sentiments led to the BSE Sensex turning back above the 14,000 levels. The Sensex finally closed 726.72 points or 5.46% higher at 14,042.32. The Nifty gained 207.1 pts or 5.13% to close at 4245.25. The broad market indices also participated in the rally though they did not gain as much as the main indices. The BSE Midcap and
Smallcap indices rose 2.95% and 2.31% respectively. Market breadth was positive as A/D ratio was
2.55:1 on the BSE. NSE cash turnover was Rs.16,294crs. Vs. Rs.16,088crs. on Thursday.

All the sectoral indices ended with gains. The top gainers were the BSE Realty, IT, Oil and Gas, Power and Bankex. Top Gainers from the BSE-30 were Satyam, ICICI bank, HDFC, Tata Power and DLF. There were no losers from the BSE-30.

After recovering from the 12,500/3800 levels yesterday, the main indices have moved further up and closed below some important resistances. Traders would need to watch if the Nifty can cross the 4300 resistance levels. A move above these resistances could lead to a testing of the 4400-4500 levels. On the other hand, a failure to cross these resistances could lead to the markets drifting lower once again and testing the 4000-3800 levels once again. Markets are therefore likely to remain volatile with the Nifty trading between the 3800-4500 levels in the coming week.

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Markets likely to open gap down following weak global cues & retest the July 2008 lows

18 Sep 2008 | 09:58
Markets likely to open gap down following weak global cues & retest the July 2008 lows

The Indian Markets cracked down once again on Wednesday to close on a weak note. The BSE Sensex closed at 13262.9, down by 1.9% over Tuesday’s close.
After opening on a flat note, the Nifty started drifting down in the early hour of trade. It tried to recover during the day, but post noon once again witnessed huge selling pressure & corrected sharply to make an intra-day low of 3974.6 before closing at 4008.3, down by 1.6% over Tuesday’s close.
The NSE cash turnover stood at Rs. 12278 crores in comparison to Rs. 12316 crores on Tuesday. The market breadth continued to remain poor on BSE with the advance-decline ratio of 1:2. All the sectoral indices ended in the red with Realty, Banks & Metals being the major losers, which fell by 4.1%, 3.8% & 3.6% respectively.

U.S. stocks dropped to a three-year low on Wednesday as the U.S. rescue of insurer AIG failed to calm a crisis of confidence in global markets and banks were scared to lend to each other. Dow Jones & Nasdaq both closed down deep in the red by 4.1% & 4.9% respectively. The Indian ADRs ended sharply lower with Infosys, Wipro & Satyam decreasing by 5.6%, 5.3% & 6.6% respectively. ICICI & HDFC Bank closed down by 7.7% & 5.3% respectively.
Among the Latin American markets, the Mexican markets fell by 4.7%, while the Brazilian markets decreased by 6.7%. Among the Metal prices, Aluminium, Zinc & Nickel decreased by 0.3%, 0.6% & 0.6% respectively, while Copper increased by 1.4%. The light crude oil for October increased by 6.6% to settle at $97.2 a barrel. Today, the Asian Markets are trading extremely weak with Nikkei & Hang Seng trading down by 3.2% & 5.1% respectively.
Shanghai & Singapore Strait are trading down by 5% & 4.7% respectively.

On Tuesday, the FIIs were net sellers of Rs. 1241 crores in the cash markets, while Mutual Funds were net buyers of Rs. 242 crores. As per the provisional figures, FIIs were net sellers of Rs. 1064 crores in the cash market on Wednesday, while they were net sellers of Rs. 383 crores in the F&O markets.

Today, we expect the Markets to open gap down following weak global cues.
Sensex could retest the earlier lows of 12514 made in July 2008. However, from those levels it could witness some recovery.

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Markets expected to open on a flat note & remain cautious ahead of weekly inflation data to be released tomorrow

17 Sep 2008 | 10:04
Markets expected to open on a flat note & remain cautious ahead of weekly inflation data to be released tomorrow

On Tuesday, the Indian Market witnessed a smart recovery from the lows & closed on a flat note. The BSE Sensex closed flat at 13518.8. The Nifty opened gap down & made an intra-day low of 3919.3 in the first hour of trade. However, it bounced back sharply from those lows during the day.
Towards the end it entered the positive terrain, making an intra-day high of 4090.1 before closing flat at 4074.9. The NSE cash turnover stood at
Rs. 12316 crores in comparison to Rs. 11936 crores on Monday. The market breadth was negative on BSE with the advance-decline ratio of 1:2. Among the sectoral indices, Oil & Gas & Bank indices outperformed, increasing by 1.3% & 0.9% respectively. However, Realty & Consumer Durables were the major losers, which fell by 3.9% & 2.9% respectively.

The U.S. markets rebounded on Tuesday on growing optimism that U.S.
authorities may finance a rescue of insurer American International Group (AIG). Dow Jones & Nasdaq both closed up by 1.3%. The Indian ADRs ended on a mix note with Infosys, Wipro & Satyam increasing by 4.6%, 1.7% & 0.8% respectively. HDFC Bank closed up by 3.7%. However, ICICI Bank &
Dr. Reddy’s decreased by 3.5% & 2.2% respectively. Tata Communications
increased by 11.6%. Among the Latin American markets, the Brazilian markets increased by 1.7%. Among the Metal prices, Aluminium & Copper decreased by 1.2% & 0.4% respectively, while Zinc & Nickel decreased by 0.3% & 1.7% respectively. The light crude oil for October decreased by 4.8% to settle at $91.15 a barrel. Today, the Asian Markets are trading on a mix note with Nikkei trading up by 2%. However Hang Seng, Shanghai & Singapore Strait are trading down by 0.9%, 1.5% & 0.9% respectively.

On Monday, the FIIs were net sellers of Rs. 629 crores in the cash markets.
However, Mutual Funds were net buyers of Rs. 122 crores. As per the provisional figures, FIIs were net sellers of Rs. 1303 crores in the cash market on Tuesday, while they were net sellers of Rs. 1053 crores in the F&O markets.

Today, we expect the Markets to open flat & remain cautious ahead of weekly inflation data to be released tomorrow. Among the indices, IT & Ba

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Markets recover from the lows of the day to close with marginal losses

09 Sep 2008 | 18:25
Markets recover from the lows of the day to close with marginal losses Markets today started on a weak note following weak Asian cues and drifted lower in the first half an hour of trade.

Markets recover from the lows of the day to close with marginal losses Markets today started on a weak note following weak Asian cues and drifted lower in the first half an hour of trade. They then found support and bounced back smartly to end the day with marginal losses. Telecom stocks attracted buying interest.

While the Sensex lost 44.21 points or 0.30% at 14,900.76, the Nifty shed 13.60 points or 0.30% at 4,468.70. The broad market indices too ended lower as the BSE Midcap and Smallcap indices lost 0.72% and 0.26% respectively.
Market breadth was negative, as A/D ratio was 0.83:1 on the BSE. NSE cash turnover was Rs.10,403crs. Vs. Rs.11,695crs. on Monday.

Most of the sectoral indices ended lower. The biggest losers were the Metals, Bankex and Realty indices. The indices that ended with nominal gains were Oil and Gas and IT. Gainers from the BSE-30 were Maruti, Bharti Airtel, RCom, TCS and Rel infra. The top losers were Sterlite, Tata Motors, BHEL, SBI and Ranbaxy.

Markets seem to be consolidating at current levels. With the short term trend remaining up, we recommend holding on to your short term long positions and using any declines to add more. It is important that the Nifty doesn’t break the 4330 support levels for the uptrend to remain in force.

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Markets likely to open gap up following positive global cues, but could witness profit taking at higher levels

19 Sep 2008 | 09:48
Markets likely to open gap up following positive global cues, but could witness profit taking at higher levels

On Thursday, the Indian Markets witnessed a phenomenal recovery from the lows to close in the positive. The BSE Sensex bounced back from the low of 12558, to close at 13315.6, up by 0.4% over Wednesday’s close. The Nifty opened gap down on account of weak global cues & made an intra-day low of
3799.55 in the early hour of trade. However, it found support at those lows & recovered sharply during the day, entering into the positive terrain.
Towards the end, it made an intra-day high of 4050.1 before closing at 4038.15, up by 0.8% over Wednesday’s close. The NSE cash turnover stood at Rs. 16088 crores in comparison to Rs. 12278 crores on Wednesday. The market breadth was negative on BSE with the advance-decline ratio of 1:3. Among the sectoral indices, Realty & Consumer Durables fell the most by 4.5% & 4% respectively. However, Banks & Oil & Gas indices outperformed, increasing by 2.7% & 2.4% respectively.

Wall Street had its best day in six years on Thursday as news that the government is considering a more comprehensive solution to the financial crisis than the current piecemeal approach spurred a furious late rally. Dow Jones & Nasdaq both increased by 3.9% & 4.8% respectively. The Indian ADRs ended in the green with Infosys, Wipro & Satyam increasing by 1.7%, 7.5% & 1.5% respectively. Tata Motors increased by 12%. ICICI & HDFC Bank closed up by 11.7% & 11.2% respectively. Among the Latin American markets, the Mexican markets increased by 4.8%. Among the Metal prices, Aluminium, Copper & Nickel decreased by 0.2%, 0.1% & 2.9% respectively, while Zinc increased by 1%. The light crude oil for October increased by 0.7% to settle at $97.9 a barrel. Today, the Asian Markets are trading up on a strong note with Nikkei & Hang Seng up by 3.3%, 6.5% respectively. Even Shanghai & Singapore Strait are trading up by 9.5% & 3.9% respectively.

On Wednesday, the FIIs were net sellers of Rs. 1334 crores in the cash markets, while they were net buyers of Rs. 383 crores in the F&O markets.
Mutual Funds were net buyers of Rs. 410 crores. As per the provisional figures, FIIs were net sellers of Rs. 1200 crores in the cash market on Thursday, while they were net buyers of Rs. 996 crores in the F&O markets.

Today, we expect the Markets to open gap up following positive global cues.
However, at higher levels, it could witness some profit taking during the day. Banks, Realty, Autos & Oil & Gas could do well today.

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Markets claw back to end with gains after a weak opening After opening on a weak note on the back of negative global cues, markets recovered smartly o

18 Sep 2008 | 18:29
Markets claw back to end with gains after a weak opening After opening on a weak note on the back of negative global cues, markets recovered smartly on the back of positive statements from the Finance Minister.

Markets claw back to end with gains after a weak opening After opening on a weak note on the back of negative global cues, markets recovered smartly on the back of positive statements from the Finance Minister. Asian and European markets also recovered from their days low after the news that global banks are taking measures to improve liquidity in markets.

While the Sensex finally closed 52.70 points or 0.40% higher at 13,315.60, the Nifty gained 29.9 pts or 0.75% to close at 4038.15. The broad market indices however ended lower as the BSE Midcap and Smallcap indices lost 1.18% and 2.24% respectively. This explains the poor market breadth as A/D ratio was 0.35:1 on the BSE. NSE cash turnover was Rs.16,088crs. Vs.
Rs.12,279crs. on Wednesday.

The sectoral indices was a mixed bag. The top gainers were the BSE Bankex, Oil and Gas, Capital goods and Power indices. The biggest losers were the BSE Realty, Consumer Durables, IT and Healthcare indices. Top Gainers from the BSE-30 were Sterlite, HDFC Bank, Reliance, NTPC and ICICI bank. The top losers were Ranbaxy, JP associates, Satyam and Infosys.

Today the markets have recovered from the 3800 support levels on the Nifty.
These levels also correspond to the July 08 lows. The short term trend nevertheless continues to remain down and we continue with our strategy of using any pullback rallies to lighten existing long positions and initiate fresh shorts. Any further upsides could find resistance at 4150-4200 on the Nifty.

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Markets tumble once again

17 Sep 2008 | 18:32
Markets tumble once again

Markets once again succumbed to selling pressure on the back of news that large European banks may be facing financial crisis. Fitch has downgraded HBOS to AA from AA+. HBOS is UK's largest residential mortgage lender.

While the Sensex finally shed 255.90 points or 1.89% at 13,262.90, the Nifty lost 66.65pts or 1.64% to close at 4008.25. The broad market indices too ended lower as the BSE Midcap and Smallcap indices lost 1.49% and 1.19% respectively. The market breath was poor, as A/D ratio was 0.51:1 on the BSE. NSE cash turnover was Rs.12,279crs. Vs. Rs.12,316crs. on Tuesday.

All the sectoral indices ended lower. The biggest losers were the BSE Realty, Bankex, Metals and FMCG indices. The indices that lost the least were the BSE Auto and IT indices. Top Gainers from the BSE-30 were Tata Motors, ONGC, Wipro, ACC and Infosys. The top losers were Sterlite, Ranbaxy, ICICI Bank, ITC, HDFC Bank and SBI.

The pullback that we saw yesterday did not continue today as the markets witnessed selling pressure at higher levels. The trend continues to remain undoubtedly down and we continue with our strategy of using any pullback rallies to lighten existing long positions and initiate fresh shorts. Any further upsides could find resistance at 4150-4200 on the Nifty.

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Nifty finally ends with a gain after five sessions of consecutive losses

16 Sep 2008 | 17:26
Nifty finally ends with a gain after five sessions of consecutive losses

After opening sharply lower, markets took a U-turn and bounced back quite sharply to finally close on a flat note. The recovery was led by beaten down stocks like Reliance Industries, SBI, HDFC Bank, BHEL and Reliance Power. Markets had opened lower on account of bad global cues as credit concerns are still not over yet in the US financial space. The recovery was probably due to the fact that Dow Jones and Nasdaq Futures were trading marginally in the green thereby giving a positive indication that there might be a relief rally in US markets today.

While the Sensex finally shed 12.47 points or 0.09% at 13,518.80, the Nifty gained 2 pts or 0.05% to close at 4074.90. The broad market indices under performed as they ended with significant losses. The BSE Midcap and Smallcap indices lost 1.35% and 1.43% respectively. The market breath was poor, as A/D ratio was 0.51:1 on the BSE. NSE cash turnover was Rs.12,316 crs. Vs. Rs.11,936crs. on Monday.

The sectoral indices were a mixed bag. The outperformer of the day was BSE Oil and Gas and Bankex. The top losers were BSE Realty, Consumer Durables, Healthcare and Metals. Top Gainers from the BSE-30 were SBI, Sterlite and Reliance. The top losers were ICICI Bank, JP Associates, Maruti, Ranbaxy and Satyam.

The pullback that we were expecting happened today. The major trend nevertheless remains down and we recommend using these pullback rallies to lighten existing long positions and initiate fresh shorts. Any further upsides could find resistance at 4150-4200 on the Nifty

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Markets likely to continue its downtrend following weak global cues

16 Sep 2008 | 09:52
Markets likely to continue its downtrend following weak global cues

The Indian Market witnessed a huge sell off on Monday after the bankruptcy news of Lehman Brothers & closed deep in the red. The BSE Sensex recovered nearly 400 points from the lows, yet closed down by 3.4% at 13531.3. The Nifty opened gap down & showed further weakness, making an intra-day low of 3955.4. However, it managed to bounce back from those lows during the day before closing at 4072.9, down by 3.7% over Friday’s close. The NSE cash turnover stood at Rs. 11936 crores in comparison to Rs. 12451 crores on Friday. The market breadth was very poor on BSE with the advance-decline ratio of 1:6. All the sectoral indices ended in the red with Realty, IT & TECk falling the most by 7.7%, 35.5% & 4.7% respectively.

On Monday, Wall Street had its worst day since markets reopened after the September 11 attacks as fears about the U.S. financial system's stability surged on Monday after Lehman Brothers filed for bankruptcy & insurer AIG struggled for survival. Dow Jones closed down by 4.4%, while Nasdaq decreased by 3.6%. The Indian ADRs ended sharply lower with Infosys, Wipro & Satyam decreasing by 6.6%, 6.9% & 14.4% respectively. ICICI & HDFC Bank closed down by 12.5% & 10.5% respectively. Among the Latin American markets, the Mexican markets closed down by 3.8%, while Brazilian markets decreased by 7.6%. Among the Metal prices, Aluminium & Copper decreased by 2.3% & 3.3% respectively, while Zinc & Nickel decreased by 5.2% & 5.1% respectively. The light crude oil for October decreased by 5.4% to settle at $95.7 a barrel. Today, the Asian Markets are trading deep in the red with Nikkei & Hang Seng trading down by 5.1% & 5.4% respectively. Shanghai & Singapore Strait are down by 3.3% & 2.2% respectively.

On Friday, the FIIs were net sellers of Rs. 857 crores in the cash markets, while Mutual Funds were net buyers of Rs. 210 crores. As per the provisional figures, FIIs were net sellers of Rs. 763 crores in the cash market on Monday, while they were net sellers of Rs. 1156 crores in the F&O markets.

Today, we expect the Markets to witness another weak session following negative global cues.

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Blood on the streets

15 Sep 2008 | 18:57
Blood on the streets

Indian markets witnessed a blood bath today on the back of financial woes in the US financial space. The news of Lehman Brothers filing Chapter 11 bankruptcy played a big role in today's session. This news has affected Asian and European markets as well. The recovery seen in the afternoon session helped curb the losses.

While the Sensex lost 469.54 points or 3.35% at 13,531.27, the Nifty shed 3.68% to close at 4072.90. The broad market indices too ended lower as the BSE Midcap and Smallcap indices lost 4.49% and 4.93% respectively. The market breath was poor, as A/D ratio was 0.16:1 on the BSE. NSE cash turnover was Rs.11,936crs. Vs. Rs.12,451crs. on last Friday.

The Sectoral indices continued to bear the brunt of selling pressure as all of them ended lower. The biggest losers were the Realty, IT, Metal and Power indices. The indices that lost the least were the FMCG, Auto, Oil and Gas and Healthcare indices. Gainers from the BSE-30 were Maruti, HDFC and ACC. The top losers were Rel Infra, Satyam, Ranbaxy, DLF, JP associates and ONGC.

With the Nifty breaking the crucial supports of 4200, the markets are now in a firm downtrend. While there could be some pullbacks, the Nifty seems to be now headed towards the 3800 levels. We recommend avoiding fresh long positions till we see signs of strength. Aggressive traders can look for shorting opportunities on any upmoves in the market.

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Markets end lower for the fourth consecutive day It was another dreadful session for the markets as the bears dominated the session.

12 Sep 2008 | 19:26
Markets end lower for the fourth consecutive day It was another dreadful session for the markets as the bears dominated the session.

Markets end lower for the fourth consecutive day It was another dreadful session for the markets as the bears dominated the session. It was the fourth consecutive day that markets were under pressure. Traders completely ignored the positive IIP numbers and good global markets.

While the Sensex lost 323.48 points or 2.26% at 14,000.81, the Nifty shed 1.44% to close at 4228.45. The broad market indices too ended lower as the BSE Midcap and Smallcap indices lost 1.95% and 1.57% respectively. The market breath was negative, as A/D ratio was 0.44:1 on the BSE. NSE cash turnover was Rs.12,451crs. Vs. Rs.10,783crs. on Thursday.

The Sectoral indices continued to bear the brunt of selling pressure as all of them ended lower. The biggest losers were the IT, Realty and Bankex indices. The indices that lost the least were the FMCG, Auto and Healthcare indices. Gainers from the BSE-30 were Maruti, BHEL, Hind Unilever, Bharti airtel and NTPC. The top losers were Rel Infra, Infosys, ICICI Bank, HDFC and DLF.

With today’s selloff, the Nifty has closed near the crucial support levels of 4200. It is important that these supports hold, else the markets could witness a sharp sell-off and drift towards the July 08 lows of 3800. We continue with our strategy of adopting a go slow approach on fresh long positions till we see signs of strength

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Markets likely to open marginally up following positive global cues & take further direction from the IIP data for month of July 2008 to be released t

12 Sep 2008 | 09:55
Markets likely to open marginally up following positive global cues & take further direction from the IIP data for month of July 2008 to be released today

The Indian Market continued its downtrend on Thursday as the BSE Sensex closed deep in the red at 14324.3, down by 2.3% over Wednesday’s close. The Nifty opened gap down & continued to show weakness through the entire trading session. Towards the end, it made an intra-day low of 4272.8 before closing at 4290.3, down by 2.5% over Wednesday’s close. The NSE cash turnover stood at Rs. 10783 crores in comparison to Rs. 11988 crores on Wednesday. The market breadth was negative on BSE with the advance-decline ratio of 1:2. All the sectoral indices closed in the red with Oil & Gas, Power & Realty falling the most by 3.4%, 3% & 2.5% respectively.

The U.S. stocks rose on Thursday as a report that major U.S. investment bank Lehman Brothers is shopping itself to possible suitors, including Bank of America, lifted the financial shares towards the end of the session. Dow Jones & Nasdaq increased by 1.5% & 1.3% respectively. The Indian ADRs ended on a weak note with Infosys, Wipro & Satyam closing down by 5.1%, 4.7% & 2.7% respectively. HDFC & ICICI Bank closed down by 1.7% & 2.9%. However, Dr Reddy’s was up by 1.1%. Among the Latin American markets, the Mexican markets closed down marginally by 0.3%, while Brazilian markets increased by 3.3%. Among the Metal prices, Aluminium & Copper increased by 0.2% &
0.3% respectively, while Zinc & Nickel increased by 0.6% & 0.5%
respectively. The light crude oil for October decreased by 1.7% to settle at $100.9 a barrel. Today, the Asian Markets are trading in the green with Nikkei & Hang Seng trading up by 1.1% & 0.2% respectively, while Singapore Strait & Shanghai are trading up by 1.1% & 0.2% respectively.

On Wednesday, the FIIs were net sellers of Rs. 870 crores in the cash markets. Mutual Funds were net buyers of Rs. 115 crores. As per the provisional figures, FIIs were net sellers of Rs. 1507 crores in the cash market on Thursday, while they were net sellers of Rs. 1928 crores in the F&O markets.

Today, we expect the Markets to open marginally up following positive global cues. However, it would take further direction from the IIP data for month of July 2008 to be released today. Among the sectoral indices, some bounce back could be seen in Oil & Gas & Power after falling sharply over the last two trading sessions. However, IT index is looking weak & could underperform.

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Markets end lower for the third consecutive day Markets took a nosedive as the main indices came under selling pressure.

11 Sep 2008 | 18:35
Markets end lower for the third consecutive day Markets took a nosedive as the main indices came under selling pressure.

Markets end lower for the third consecutive day Markets took a nosedive as the main indices came under selling pressure. It was the third consecutive negative session as they took weak cues from global markets as credit concerns are not over yet in the US financial space. Asian and European markets also got hammered.

While the Sensex lost 338.32 points or 2.31% at 14,324.29, the Nifty shed 2.5% to close at 4290.30. The broad market indices too ended lower as the BSE Midcap and Smallcap indices lost 1.08% and 1.22% respectively. The market breath was negative, as A/D ratio was 0.48:1 on the BSE. NSE cash turnover was Rs.10,782.56crs. Vs. Rs.11,988.46 crs. on Wednesday.

The Sectoral indices were not spared from today’s selloff as all of them ended lower. The biggest losers were the Oil and Gas, Power and Realty indices. The indices that lost the least were the IT, Auto and FMCG indices. Gainers from the BSE-30 were Tata Motors and Ranbaxy. The top losers were Bharti Airtel, Rel Infra, Reliance, ONGC and Tata Power.

With today’s selloff, the Nifty has closed below the previous lows of 4330 thereby reversing the uptrend. The Nifty could now drift further towards the 4200 support levels. We continue with our strategy of adopting a go slow approach on fresh long positions till we see signs of strength.

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Markets likely to open down following weak Asian cues, but could find support at lower levels

11 Sep 2008 | 10:04
Markets likely to open down following weak Asian cues, but could find support at lower levels

The markets closed on a weak note on Wednesday with the BSE Sensex closing at 14662.6, down by 1.6% over Tuesday’s close. at 14,662.6. After opening down following weak global cues, the Nifty tried to recover in the early hour of trade. However, it couldn’t sustain at higher levels & slipped from an intra-day high of 4467.5. Thereafter it remained weak through the entire session & closed deep in the red at 4400, down by 1.5% over Tuesday’s close. The NSE cash turnover stood at Rs. 11988 crores in comparison to
Rs. 10,403 crores on Tuesday. The market breadth was negative on BSE with the advance-decline ratio of 1:2. All the sectoral indices closed in the red with Metals, Oil & gas & Power indices being the major losers, falling by 5.5%, 2.2% & 1.7% respectively.

U.S. stocks rose on Wednesday as OPEC's move to shore up oil prices boosted energy shares & Texas Instruments' outlook soothed fear about technology spending even as worries persisted about the health of the banking sector.
The Dow Jones & Nasdaq increased by 0.3% and 0.9% respectively. The Indian ADRs ended on a mix note with Infosys & Satyam closing up by 1.9%, 1.1%, while Wipro closed down by 0.2%. HDFC & ICICI Bank closed up by 2% & 3.1%.
Dr Reddy’s was down by 1.7%. Among the Latin American markets, the Mexican markets closed flat, while the Brazilian markets increased by 2.5%. Among the Metal prices, Aluminium & Copper decreased by 0.9% & 0.5% respectively, while Zinc & Nickel decreased by 0.7% & 1.3% respectively. The light crude oil for October decreased by 0.7% to settle at $102.58 a barrel. Today, the Asian Markets are trading on a weak note with Nikkei & Hang Seng trading down by 1.2% & 2.5% respectively, while Singapore Strait is down by 1.6%.
However Shanghai is trading down by 1.9%.

On Tuesday, the FIIs were net sellers of Rs. 186 crores in the cash markets, while they were net sellers of Rs. 33 crores in the F&O Markets.
As per the provisional figures, FIIs were net sellers of Rs. 1037 crores in the cash market on Wednesday, while they were net sellers of Rs. 1267 crores in the F&O markets.

Today, we expect the Markets to open down following weak Asian cues.
However, it could find support at lower levels. Weekly inflation data to be released this evening will be keenly watched by the markets.

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Markets end lower for the second consecutive day Markets closed sharply lower on the back of selling pressure and weak global cues.

10 Sep 2008 | 19:08
Markets end lower for the second consecutive day Markets closed sharply lower on the back of selling pressure and weak global cues.

Markets end lower for the second consecutive day Markets closed sharply lower on the back of selling pressure and weak global cues. They opened lower following negative cues from US markets as financial stocks tumbled on the back of news that Lehman Brothers failed to raise capital. Though Indian markets tried to recover in the afternoon, it did not succeed and slipped further after 1:30 pm due to weakness in European markets.

While the Sensex lost 238.15 points or 1.60% at 14,662.61, the Nifty shed
68.45 points or 1.53% at 4,400.25. The broad market indices too ended lower as the BSE Midcap and Smallcap indices lost 1.20% and 0.88% respectively.
The market breath was negative, as A/D ratio was 0.54:1 on the BSE. NSE cash turnover was Rs.11,988crs. Vs. Rs.10,403crs. on Tuesday.

Today’s weakness did not spare any sectoral index as all of them ended lower. The biggest losers were the Metals, Oil and Gas, Power and Realty indices. The indices that lost the least were the IT and FMCG indices.
Gainers from the BSE-30 were Grasim, ACC, Infosys, Ranbaxy and SBI. The top losers were Sterlite, Tata Steel, Tata Power, Rel infra, Bharti Airtel and Reliance.

With today’s weakness, the short term uptrend once again is under threat.
The coming sessions will be crucial as it is important that the Nifty doesn’t close below 4330. We recommend a go slow approach on fresh long positions till we see signs of strength

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Markets expected to open down and recover during the day

09 Sep 2008 | 10:00
Markets expected to open down and recover during the day

The markets closed with big gains on Monday on the back of the NSG approval received over the weekend and the bailout of Freddie Mac and Fannie Mae by the US government. The BSE Sensex ended the session with 3.2% gains over Friday at 14,955. After a gap up opening & making an intra-day high of 4,558, the Nifty consolidated at those levels through the day. However, during the last hour of trade, it witnessed some profit taking, but still closed on a strong note at 4,482.3, up by 3% over Friday’s close. The NSE cash turnover stood at Rs. 11,695 crores in comparison to Rs. 11,407 crores on Friday. The market breadth was positive on BSE with the advance-decline ratio of 3:2. Among the sectoral indices, the Consumer Durables index was the only loser, which fell by 0.3%. The rest of the indices ended in the green with Banks, Capital Goods & Power indices being the major gainers, increasing by 4.1%, 3.7% & 3.4% respectively.

U.S. stocks rose on Monday as investors bet Washington's bailout of mortgage finance giants Fannie Mae and Freddie Mac would stabilize the U.S.
housing sector and calm jittery world financial markets. The US markets closed with the Dow Jones and Nasdaq increasing by 2.6% and 0.6% respectively. Most of the Indian ADRs closed higher on Monday. While Infosys and Wipro closed higher by 0.2% and 3.2%, Satyam closed down 0.6%.
ICICI & HDFC Bank increased by 1.2% & 4.1% respectively. MTNL and TCL were up by 0.5% and 5.9% each respectively.

Among the Latin American markets, the Mexican markets increased by 1.3%, while Brazilian markets increased by 1%. Among the Metal prices, Copper and Zinc decreased by 1% & 0.3% respectively, while Aluminum & Nickel increased by 0.2% & 0.4% respectively. The light crude oil for October increased by 0.11% to settle at $106.34 a barrel. Today, the Asian Markets are trading on a weak note with Nikkei & Hang Seng trading down by 1.5% & 2.3% respectively, while Singapore Strait and Shanghai are trading down by 1.8% and 0.9% respectively.

On Friday, the FIIs were net sellers of Rs. 1,737 crores in the cash markets, while Mutual Funds were net sellers of Rs. 99 crores. As per the provisional figures, FIIs were net buyers of Rs. 253.43 crores in the cash market on Monday, while they were net buyers of Rs. 1,527 crores in the F&O markets.

Today, we expect the Markets to open down in line with other Asian markets and later try to recover from lower levels. Banks, Capital Goods and Oil & Gas could see buying at lower levels.

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Markets expected to open down following weak global cues & remain volatile through the day

10 Sep 2008 | 10:17
Markets expected to open down following weak global cues & remain volatile through the day

The markets opened on a weak note but soon recovered from the lows of the day and closed with moderate losses on Tuesday. The BSE Sensex closed marginally down by 0.3% at 14,900. After opening gap down & making an intra-day low of 4,419, the Nifty recovered well from those levels throughout the day. Towards the end of the session, the it made an intraday high of 4498 before closing marginally in the red at 4,469, down by 0.3% over Monday’s close. The NSE cash turnover stood at Rs. 10,403 crores in comparison to Rs. 11,695 crores on Monday. The market breadth was negative on BSE with the advance-decline ratio of 0.8:1. Among the sectoral indices, the TECk and Oil and Gas indices outperformed, increasing by 0.6% and 0.4% respectively, while Metals, Banks and Realty shed the most, falling by 1.8%, 1.3% and 1.2% respectively.

The U.S. stocks finished sharply lower on Tuesday, with the benchmark S&P 500 suffering its worst percentage decline since February 2007, as financial shares sold off on worries about Lehman Brothers' ability to raise much-needed cash. Dow Jones and Nasdaq decreased by 2.4% and 2.6% respectively. All the Indian ADRs closed lower with Infosys, Wipro and Satyam closing down by 2.5%, 2.8% and 2.3% respectively. ICICI & HDFC Bank decreased by 5.8% & 7.6% respectively. Among the Latin American markets, the Mexican markets decreased by 2.3%, while Brazilian markets decreased by 4.5%. Among the Metal prices, Copper and Aluminium decreased by 1.2% & 1% respectively, while Zinc & Nickel decreased by 0.9% & 0.1% respectively.
The light crude oil for October decreased by 2.9% to settle at $103.26 a barrel. Today, the Asian Markets are trading on a mixed note with Nikkei & Hang Seng trading down by 1.1% & 1.7% respectively, while Singapore Strait is down by 1.2%. However Shanghai is trading higher by 1.1%.

On Monday, the FIIs were net buyers of Rs. 758 crores in the cash markets, while they were net buyers of Rs. 1527 crores in the F&O markets. Mutual Funds were net buyers of Rs. 100 crores. As per the provisional figures, FIIs were net sellers of Rs. 392 crores in the cash market on Tuesday, while they were net sellers of Rs. 33 crores in the F&O markets.

Today, we expect the Markets to open down following weak global cues & remain volatile through the day. Among the indices, Oil & Gas & IT are looking good, while Metals, Banks, Realty & Healthcare indices are looking weak & could underperform.

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Markets hammered as Nifty closes below 4000 Markets witnessed a heavy sell-off on the back of negative global cues.

26 Sep 2008 | 19:03
Markets hammered as Nifty closes below 4000 Markets witnessed a heavy sell-off on the back of negative global cues.

Asian and European shares were beaten badly on uncertainties over USD 700 billion bailout package for US financial sector.

While the Sensex finally closed 445 points or 3.28% lower at 13,102.18, the Nifty lost 125.30pts or 3.05% to close at 3985.25. The broad market indices also ended lower as the BSE Midcap and Smallcap indices shed 2.99% and 3.11% respectively. Market breadth was negative as almost five stocks declined for every one stock that rose on the BSE. NSE cash turnover was Rs.10,500crs. Vs. Rs.15,311crs. on Thursday.

Barring the FMCG index , all the sectoral indices ended lower. The top losers were the Realty, Metals, Bankex and Capital goods indices. Gainers from the BSE-30 were ITC, HUL and ACC. Top losers were Ranbaxy, Sterlite, ICICI bank, Grasim, Hindalco and M&M.

Markets are now in the firm grip of the bears as the Nifty has broken the psychological level of 4000. While there could be some pullbacks, we believe the markets are likely to head lower in the coming sessions as the medium and long term trend continues to remain down. Any upsides are now likely to find resistance at 4100-4150 on the Nifty. We recommend avoiding fresh positional longs till we see evidence of a new uptrend.

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