Pre-Market report on 16.04.2008
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Sukumar
Apr 16, 2008, 12:06:08 AM4/16/08
to Kences1
Wanna trade? Give it a shot, Markets are looking hot
====================================================
US Markets closed up despite of crude touching yet another high of
$114 a barrel. Dow Jones closed up 60 points at 12,362.47 while Nasdaq
inched up 10.22 points to end at 2,286.04. After hours Intel surpised
the street with a positive outlook despite of drop in profits last
quarter. Tech stocks are likely to be buoyed by the guidance tomorrow.
12,750 magic technical level of Dow Jones is still not a distant
dream.
Nikkei, taking a clue from the wall street and Intel guidance is
currently trading with 186 point gain at 13,176.70. Indian Markets are
rejuvenated after Infosys reported decent results and a better than
expected guidance. Reserve Bank of India Governor Y.V. Reddy said
Tuesday that India's inflation is far more intense than the central
bank anticipated, and that "it is a time of uncertainties" about the
direction of monetary policy.
Market is currently discounting a 25 basis point rate hike. Technology
stocks are looking upbeat after Infosys guidance thrashed all the
concerns about the US Recession. Midcaps are undoubtedly recharged and
many stocks are looking good to recoup the losses suffered in the last
few months. Irrespective of the global cues Indian markets look good
for a consolidation before the upmove. We beleive Inflation will be
controlled over a period of time.
Oil & Gas stocks are partying from the last couple of days with RPL,
Cairns India, Hindustan Oil Exploration, Selan Exploration clocking
good gains. Couple of sectors look bleak from the economic front like
Steel, Banking, Brokerages, Real Estate etc but we see no danger in
these sectors in the short term except for couple of days when the
interest rate hike happens. Infact stocks from these sectors are
likely to participate in the pull back happening.
Year 2008 is undoubtedly eventful for investors but on the wrong side.
Bears were successful in applying breakers to bull rally for nearly 3
months, a pathetic phase not seen in the last 3-4 years. We expect the
current economic down turn to be short and bulls will back with
force.Have a great trading day.
Market Close Box
BSE Sensex 16153.66 0.00
NSE Nifty 4879.65 0.00
USD Rs.39.96
Oil Nymex $113.7
N.Sukumar
Research Analyst
====================================================
US Markets closed up despite of crude touching yet another high of
$114 a barrel. Dow Jones closed up 60 points at 12,362.47 while Nasdaq
inched up 10.22 points to end at 2,286.04. After hours Intel surpised
the street with a positive outlook despite of drop in profits last
quarter. Tech stocks are likely to be buoyed by the guidance tomorrow.
12,750 magic technical level of Dow Jones is still not a distant
dream.
Nikkei, taking a clue from the wall street and Intel guidance is
currently trading with 186 point gain at 13,176.70. Indian Markets are
rejuvenated after Infosys reported decent results and a better than
expected guidance. Reserve Bank of India Governor Y.V. Reddy said
Tuesday that India's inflation is far more intense than the central
bank anticipated, and that "it is a time of uncertainties" about the
direction of monetary policy.
Market is currently discounting a 25 basis point rate hike. Technology
stocks are looking upbeat after Infosys guidance thrashed all the
concerns about the US Recession. Midcaps are undoubtedly recharged and
many stocks are looking good to recoup the losses suffered in the last
few months. Irrespective of the global cues Indian markets look good
for a consolidation before the upmove. We beleive Inflation will be
controlled over a period of time.
Oil & Gas stocks are partying from the last couple of days with RPL,
Cairns India, Hindustan Oil Exploration, Selan Exploration clocking
good gains. Couple of sectors look bleak from the economic front like
Steel, Banking, Brokerages, Real Estate etc but we see no danger in
these sectors in the short term except for couple of days when the
interest rate hike happens. Infact stocks from these sectors are
likely to participate in the pull back happening.
Year 2008 is undoubtedly eventful for investors but on the wrong side.
Bears were successful in applying breakers to bull rally for nearly 3
months, a pathetic phase not seen in the last 3-4 years. We expect the
current economic down turn to be short and bulls will back with
force.Have a great trading day.
Market Close Box
BSE Sensex 16153.66 0.00
NSE Nifty 4879.65 0.00
USD Rs.39.96
Oil Nymex $113.7
N.Sukumar
Research Analyst
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