Pre-Market Report: 13.07.2009
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B. Karthick
Jul 13, 2009, 12:05:56 AM7/13/09
to Kences1
Markets to open flat on the first trading day of the week
Stocks on Dalal Street are poised to open flat to lower after the
indices cracked in the final hour of the trade on Friday, losing
nearly 2 percent. Expect the benchmark index or the Sensex to reverse
the negative trend and end up with minor gains by the end of the day.
Stocks on Wall Street hit their longest losing streak since the
market's spring rally began in early March.On Friday, the Dow Jones
industrial average fell 36.65, or 0.5 percent, to 8,146.52.The
Standard & Poor's 500 index fell 3.55, or 0.4 percent, to 879.13.The
Nasdaq composite index rose 3.48, or 0.2 percent, to 1,756.03.
The latest data compiled by SEBI raises hopes that the FII's will
continue to invest in the Indian markets, even in a falling market.
Foreign institutional investors have made a net investment of Rs3,500
crore in the Indian stock markets since the presentation of the Budget
in Parliament on 6 July, even as the Sensex lost nearly 10% over the
same period.
Realty, and Metal stocks were worst hit last week, as the sectoral
indices suffered a double digit loss for the week. Hindalco and Tata
Steel led the losers among the commodity stocks and the trend is
likely to continue. ADAG stocks like Reliance Infra and Reliance
Communications (Rs 242) look week in the near term.
Bajaj Hindustan is one stock that is looking terribly week as the
stock has lost nearly 10 percent on huge volume action with nearly 9.5
million shares traded on the NSE. It looks like speculators are
exiting second rung Midcaps after handsome gains since March 2009.
Core Projects is another stocks that is witnessing heavy unwinding of
positions.JP Hydro and Praj Ind have also lost their shine.
The coming week will test the health of online brokers like Geojit and
Motilal as the companies are on deck to report their Q1 numbers. We
prefer Geojit (Rs 38.60) to Motilal (Rs 139.50) in this space. We are
likely to see a flat to negative open, but things might improve, as
the day goes by.
B.Karthick
Research Analyst
Stocks on Dalal Street are poised to open flat to lower after the
indices cracked in the final hour of the trade on Friday, losing
nearly 2 percent. Expect the benchmark index or the Sensex to reverse
the negative trend and end up with minor gains by the end of the day.
Stocks on Wall Street hit their longest losing streak since the
market's spring rally began in early March.On Friday, the Dow Jones
industrial average fell 36.65, or 0.5 percent, to 8,146.52.The
Standard & Poor's 500 index fell 3.55, or 0.4 percent, to 879.13.The
Nasdaq composite index rose 3.48, or 0.2 percent, to 1,756.03.
The latest data compiled by SEBI raises hopes that the FII's will
continue to invest in the Indian markets, even in a falling market.
Foreign institutional investors have made a net investment of Rs3,500
crore in the Indian stock markets since the presentation of the Budget
in Parliament on 6 July, even as the Sensex lost nearly 10% over the
same period.
Realty, and Metal stocks were worst hit last week, as the sectoral
indices suffered a double digit loss for the week. Hindalco and Tata
Steel led the losers among the commodity stocks and the trend is
likely to continue. ADAG stocks like Reliance Infra and Reliance
Communications (Rs 242) look week in the near term.
Bajaj Hindustan is one stock that is looking terribly week as the
stock has lost nearly 10 percent on huge volume action with nearly 9.5
million shares traded on the NSE. It looks like speculators are
exiting second rung Midcaps after handsome gains since March 2009.
Core Projects is another stocks that is witnessing heavy unwinding of
positions.JP Hydro and Praj Ind have also lost their shine.
The coming week will test the health of online brokers like Geojit and
Motilal as the companies are on deck to report their Q1 numbers. We
prefer Geojit (Rs 38.60) to Motilal (Rs 139.50) in this space. We are
likely to see a flat to negative open, but things might improve, as
the day goes by.
B.Karthick
Research Analyst
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