Pre-Market report on 08.04.2008
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K.Karthik Raja
Apr 8, 2008, 12:12:58 AM4/8/08
to Kences1
Subdued trade on cards
Apr 08, 2008 |
Wall Street closed mixed on Monday, way below the highs after US
largest U.S.
savings and loan company Washington Mutual Inc is close to securing a
$5
billion cash infusion. Dow Jones closed marginally up 3 points at
12,612.43
and Nasdaq down 6 points to close at 2,364.83. Alan Greenspan, former
Federal
Reserve Chairman said the current credit crisis is the worst in at
least 50
years. This might further add pressure on the Fed officials for a
close
monitoring of the situation.
Japanese markets after a 5 week high currently trading at 13,328.28
down by
121.95 points.
Yesterday Indian markets regained majority of the ground lost on
Friday. But
the strength in the rally is not convincing enough given the last 3
month
market moment. Q4 results season is yet to start and it appears many
of the
companies are preferring to declare their quarlterly results in June,
along
with the Yearly results. Orchid Pharma is in the think of the action
with
market sources and media raising a hue and cry on Ranbaxy attempting
a
creeping acquisition in the company through a group company Solrex
Pharma.
Infosys, the IT bellwether will announce their quarterly numbers on
April 15.
A forrester study indicated that this year's IT numbers will be inline
with
expectations and the performance is likely to wane in 2009-2010. We
expect
the Infosys numbers to be in line and no shocks in the guidance.
Sluggish
growth to certain extent is already built into the results. There
might be
handful of companies that might give a pleasant surprise to the
markets.
Year 2008 has turned out to be a night mare to investors. Prism Cement
and
Vakrangee Software are among the first few companies to declare
results
today. Markets are likely to trade range bound unless there is
strength from
the FIIs and domestic funds. Select stocks continue to gain and
overall not a
right market to trade.
BSE Sensex : 15757.08 413.96
NSE Nifty : 4761.20 114.20
USD : Rs.39.93
Oil Nymex : $109.0
K.Karthik Raja
Apr 08, 2008 |
Wall Street closed mixed on Monday, way below the highs after US
largest U.S.
savings and loan company Washington Mutual Inc is close to securing a
$5
billion cash infusion. Dow Jones closed marginally up 3 points at
12,612.43
and Nasdaq down 6 points to close at 2,364.83. Alan Greenspan, former
Federal
Reserve Chairman said the current credit crisis is the worst in at
least 50
years. This might further add pressure on the Fed officials for a
close
monitoring of the situation.
Japanese markets after a 5 week high currently trading at 13,328.28
down by
121.95 points.
Yesterday Indian markets regained majority of the ground lost on
Friday. But
the strength in the rally is not convincing enough given the last 3
month
market moment. Q4 results season is yet to start and it appears many
of the
companies are preferring to declare their quarlterly results in June,
along
with the Yearly results. Orchid Pharma is in the think of the action
with
market sources and media raising a hue and cry on Ranbaxy attempting
a
creeping acquisition in the company through a group company Solrex
Pharma.
Infosys, the IT bellwether will announce their quarterly numbers on
April 15.
A forrester study indicated that this year's IT numbers will be inline
with
expectations and the performance is likely to wane in 2009-2010. We
expect
the Infosys numbers to be in line and no shocks in the guidance.
Sluggish
growth to certain extent is already built into the results. There
might be
handful of companies that might give a pleasant surprise to the
markets.
Year 2008 has turned out to be a night mare to investors. Prism Cement
and
Vakrangee Software are among the first few companies to declare
results
today. Markets are likely to trade range bound unless there is
strength from
the FIIs and domestic funds. Select stocks continue to gain and
overall not a
right market to trade.
BSE Sensex : 15757.08 413.96
NSE Nifty : 4761.20 114.20
USD : Rs.39.93
Oil Nymex : $109.0
K.Karthik Raja
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