Pre-Market Report on 29.08.2008
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suguhopes
Aug 29, 2008, 12:11:11 AM8/29/08
to Kences1
Stocks set to open higher as Oil falls and sentiment improves
===================================================
Wall Street barreled higher Thursday after a better-than-expected
reading on the gross domestic product and a drop in jobless claims
gave investors some reassurance that the economy is holding up. Dow
rose 212.67, or 1.85 percent, to 11,715.18, bringing its three-day
advance to nearly 330 points and the Nasdaq composite index rose
29.18, or 1.22 percent, to 2,411.64.
Oil rose in the early going on concerns about the storm but a
strengthening dollar upended oil's climb. Light, sweet crude fell
$2.56 to settle at $115.59 on the New York Mercantile Exchange. Asian
stocks got a shot in the arm with the rally in US markets. Nikkei, the
Japanese index gained more than 1.5 percent at opening bell.
India successfully concluded negotiations on a Free Trade Agreement
(FTA) for goods with the 10-member Association of Southeast Asian
Nations (Asean) in Singapore today.This will allow consumers to import
a range of products like capital goods, some textiles, electronic
goods and chemicals from next year.
Banking and Realty Stocks are expected to bounce back today. ICICI
Bank and HDFC Bank might lead the banking pack where as JP Associates
and Reliance Infra are expected to lead the Realty stocks. IT might
put up good show after a rally in Nasdaq, but disappointing results
from Dell after hours might put a plug on the up move in this sector.
Auto sector might be a surprise winner in today's trade. Maruti and
M&M look good among the heavy weights. Among the midcap space GSS
America looks poised for a good up move in the coming days. Sanwaria
Agro, Marksans Pharma and Archies Ltd are some other stocks that might
show heightened action in today's trading.
Suitable stocks for 'Intraday' today
<LT,ICICIBANK,HDFC,BHEL,CAIRN,RPL,SUZLON,WIPRO,GAIL,HINDUNILVR>
Market Close Box
BSE Sensex 14048.34 -248.45
NSE Nifty 4214.00 -78.10
USD Rs.43.73
Oil Nymex $115.5
N.Sukumar
Research Analyst
===================================================
Wall Street barreled higher Thursday after a better-than-expected
reading on the gross domestic product and a drop in jobless claims
gave investors some reassurance that the economy is holding up. Dow
rose 212.67, or 1.85 percent, to 11,715.18, bringing its three-day
advance to nearly 330 points and the Nasdaq composite index rose
29.18, or 1.22 percent, to 2,411.64.
Oil rose in the early going on concerns about the storm but a
strengthening dollar upended oil's climb. Light, sweet crude fell
$2.56 to settle at $115.59 on the New York Mercantile Exchange. Asian
stocks got a shot in the arm with the rally in US markets. Nikkei, the
Japanese index gained more than 1.5 percent at opening bell.
India successfully concluded negotiations on a Free Trade Agreement
(FTA) for goods with the 10-member Association of Southeast Asian
Nations (Asean) in Singapore today.This will allow consumers to import
a range of products like capital goods, some textiles, electronic
goods and chemicals from next year.
Banking and Realty Stocks are expected to bounce back today. ICICI
Bank and HDFC Bank might lead the banking pack where as JP Associates
and Reliance Infra are expected to lead the Realty stocks. IT might
put up good show after a rally in Nasdaq, but disappointing results
from Dell after hours might put a plug on the up move in this sector.
Auto sector might be a surprise winner in today's trade. Maruti and
M&M look good among the heavy weights. Among the midcap space GSS
America looks poised for a good up move in the coming days. Sanwaria
Agro, Marksans Pharma and Archies Ltd are some other stocks that might
show heightened action in today's trading.
Suitable stocks for 'Intraday' today
<LT,ICICIBANK,HDFC,BHEL,CAIRN,RPL,SUZLON,WIPRO,GAIL,HINDUNILVR>
Market Close Box
BSE Sensex 14048.34 -248.45
NSE Nifty 4214.00 -78.10
USD Rs.43.73
Oil Nymex $115.5
N.Sukumar
Research Analyst
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