Pre-Market Report on 25.09.2008
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K.Karthik Raja
Sep 25, 2008, 12:19:54 AM9/25/08
to Kences1
Jitters in the financial markets continue to haunt stocks in Dalal
Street
Stocks might see another round of sell off as investors are growing
impatient with the uncertainity in the market. Expect the Sensex to
lose nearly 1 percent or nearly 130 points for the day.
Tension grew in the financial markets Wednesday, sending most stocks
moderately lower as investors worried about the effectiveness of a
still-emerging government plan to rescue banks from crippling debt.
The Dow ended down 0.27 percent, where as the NASDAQ closed flat with
a gain of 0.11 percent at 2155.68.
Asian markets declined Thursday, with resource-related stocks such as
BHP Billiton hit by a drop in crude-oil prices, while banks fell on
indecision over a U.S. government bailout plan for the financial
sector. The Nikkei 225 Average fell 2.1% to 11,861.90.
The good news on the FIIS front is that JPMorgan Chase & Co., the
third- largest U.S. bank, plans to double private equity investments
in India to $1 billion as the nation's equities head for the worst
year on record. JPMorgan's private equity unit has so far invested in
L&T Infrastructure Development Projects Ltd., Apollo Hospitals &
Enterprises Ltd. and Cafe Coffee Day.
Metals have seen a good bouse after the sectoral index fell more
nearly 25 percent for the month. The index managed to bounce back
nearly 5 percent in the last 4 sessions, thanks to the move in
Sterlite Ind, Tata Steel and Nalco. Some midcaps have shown great
strength in yesterday's market.
Stocks like Austral Coke, Nutek India and Indowind energy have shown
some speculative moves and it is not a bad idea to book some profits
if you have entered them in lower levels. We believe as there are some
A group stocks that look relatively cheap with compelling valuations.
Although the mood in the market is not buoyant, we want to reiterate
that the fundamentals are in tact and advise long term investors to
accumulate quality stocks.
Suitable stocks for intraday today:
<RELIANCE, ICICIBANK, RELCAPITAL, LT, BHARTIARTL, BHEL, CAIRN,
INDIABULLS, M&M, BOMDYEING>
Market Close Box:
BSE Sensex 13692.52 0.00
NSE Nifty 4161.25 34.35
USD Rs.45.83
Oil Nymex $105.7
B.Karthick
Research Analyst.
Street
Stocks might see another round of sell off as investors are growing
impatient with the uncertainity in the market. Expect the Sensex to
lose nearly 1 percent or nearly 130 points for the day.
Tension grew in the financial markets Wednesday, sending most stocks
moderately lower as investors worried about the effectiveness of a
still-emerging government plan to rescue banks from crippling debt.
The Dow ended down 0.27 percent, where as the NASDAQ closed flat with
a gain of 0.11 percent at 2155.68.
Asian markets declined Thursday, with resource-related stocks such as
BHP Billiton hit by a drop in crude-oil prices, while banks fell on
indecision over a U.S. government bailout plan for the financial
sector. The Nikkei 225 Average fell 2.1% to 11,861.90.
The good news on the FIIS front is that JPMorgan Chase & Co., the
third- largest U.S. bank, plans to double private equity investments
in India to $1 billion as the nation's equities head for the worst
year on record. JPMorgan's private equity unit has so far invested in
L&T Infrastructure Development Projects Ltd., Apollo Hospitals &
Enterprises Ltd. and Cafe Coffee Day.
Metals have seen a good bouse after the sectoral index fell more
nearly 25 percent for the month. The index managed to bounce back
nearly 5 percent in the last 4 sessions, thanks to the move in
Sterlite Ind, Tata Steel and Nalco. Some midcaps have shown great
strength in yesterday's market.
Stocks like Austral Coke, Nutek India and Indowind energy have shown
some speculative moves and it is not a bad idea to book some profits
if you have entered them in lower levels. We believe as there are some
A group stocks that look relatively cheap with compelling valuations.
Although the mood in the market is not buoyant, we want to reiterate
that the fundamentals are in tact and advise long term investors to
accumulate quality stocks.
Suitable stocks for intraday today:
<RELIANCE, ICICIBANK, RELCAPITAL, LT, BHARTIARTL, BHEL, CAIRN,
INDIABULLS, M&M, BOMDYEING>
Market Close Box:
BSE Sensex 13692.52 0.00
NSE Nifty 4161.25 34.35
USD Rs.45.83
Oil Nymex $105.7
B.Karthick
Research Analyst.
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