Pre-Market Report on 12.09.2008
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B. Karthick
Sep 11, 2008, 11:50:51 PM9/11/08
to Kences1
Inflation slows, Sensex to stage a strong recovery
========================================
Stocks in Dalal street finally look to trade up as bulls might make a
strong case for buying equities on Friday morning. The Sensex might
recoup its losses yesterday on some positive news on inflation front
and also a fall in the oil prices.
Meanwhile in stocks in US staged a dramatic recovery after a trading
lower for most of the day.The Dow Jones Industrial Average wiping out
a 150-point deficit to stage a triple-digit rally fueled by strength
in transport and refinery companies.The DowJones industrial gained
1.46 percent, where as the Nasdaq ended the day with nearly a 30 point
gain.
Stocks in Asia are expected to open in positive territory, buoyed by
the performance of the US markets.Light, sweet crude fell $1.71 to
settle at $100.87 a barrel on the New York Mercantile Exchange as a
strengthening dollar added to investors' buying power.Investors should
keep an eye on stocks in IT, Banking Aviation and entertainment
sectors. The good news for today is that the Wholesale Price Index-
based inflation rose 12.10 per cent during the week ended August 30,
below the previous week’s annual rise of 12.34 per cent. With this
Inflation has fallen for the third week in a row which might help the
RBI keep the rates flat.
Stocks like ENIL and BAG Films might gain on the news that the
Ministry of Information and Broadcasting has relaxed norms allowing FM
radio companies to restructure their business before the five-year
lock-in period. Aviation stocks might show a nice bounce celebrating
further fall in Crude prices.IT stocks are due for a smart rally
taking advantage of a 2 year low for the rupee against the dollar.
To conclude, it looks like the worst is over for the markets and we
might see a recovery followed by a rally in the coming weeks. We
strongly suggest investors buying the stocks now, but make sure you do
not go ALL IN.
Suitable stocks for intraday today:
<ICICIBANK, BHARTIARTL, SBIN, BHEL, RELINFRA, DLF, TATASTEEL,
HDFCBANK, EDUCOMP, HDIL>
Market Close Box:
BSE Sensex 14324.29 -338.32
NSE Nifty 4290.30 -109.95
USD Rs.45.44
Oil Nymex $100.8
B.Karthick
Research Analyst.
========================================
Stocks in Dalal street finally look to trade up as bulls might make a
strong case for buying equities on Friday morning. The Sensex might
recoup its losses yesterday on some positive news on inflation front
and also a fall in the oil prices.
Meanwhile in stocks in US staged a dramatic recovery after a trading
lower for most of the day.The Dow Jones Industrial Average wiping out
a 150-point deficit to stage a triple-digit rally fueled by strength
in transport and refinery companies.The DowJones industrial gained
1.46 percent, where as the Nasdaq ended the day with nearly a 30 point
gain.
Stocks in Asia are expected to open in positive territory, buoyed by
the performance of the US markets.Light, sweet crude fell $1.71 to
settle at $100.87 a barrel on the New York Mercantile Exchange as a
strengthening dollar added to investors' buying power.Investors should
keep an eye on stocks in IT, Banking Aviation and entertainment
sectors. The good news for today is that the Wholesale Price Index-
based inflation rose 12.10 per cent during the week ended August 30,
below the previous week’s annual rise of 12.34 per cent. With this
Inflation has fallen for the third week in a row which might help the
RBI keep the rates flat.
Stocks like ENIL and BAG Films might gain on the news that the
Ministry of Information and Broadcasting has relaxed norms allowing FM
radio companies to restructure their business before the five-year
lock-in period. Aviation stocks might show a nice bounce celebrating
further fall in Crude prices.IT stocks are due for a smart rally
taking advantage of a 2 year low for the rupee against the dollar.
To conclude, it looks like the worst is over for the markets and we
might see a recovery followed by a rally in the coming weeks. We
strongly suggest investors buying the stocks now, but make sure you do
not go ALL IN.
Suitable stocks for intraday today:
<ICICIBANK, BHARTIARTL, SBIN, BHEL, RELINFRA, DLF, TATASTEEL,
HDFCBANK, EDUCOMP, HDIL>
Market Close Box:
BSE Sensex 14324.29 -338.32
NSE Nifty 4290.30 -109.95
USD Rs.45.44
Oil Nymex $100.8
B.Karthick
Research Analyst.
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