Pre-Market Report - 13.02.2008
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B. KARTHICK
Feb 12, 2008, 11:11:02 PM2/12/08
to Kences1
Global markets close strong, local bull not in the ring
Dow Jones jumped 133 points on the news of billionaire investor Warren
Buffett's proposed buyout of bond insurers' liabilities and Bush
Govt's proposal to give a 30-day reprieve to home owners threatened
with foreclosure. Nasdaq ended the day almost unchanged. The indices
lost some of the gains in the last one hour. European markets closed
yesterday with gains of more than 3 percent.
Sooner the market will get into the mode of "No news is good news".
The situation is absolutely pathetic on the D-street with midcaps in a
devastated shape. There is no respite to the midcap selling though the
markets traded in a small band yesterday. May be the street might
witness some more blood shed in the midcap space. Absence of buying
from all the ends is adding on to the woes.
SEBI is reported to be considering to implement circuit filters for
the
stocks traded in the F&O segment. SEBI should have proactively come up
with this solution last Novemeber when we started witnessing 50% gains
in stocks traded in F&O in a single day. Better late than never.
Media stocks appear to have bottomed out compared to other sectors
looking at the trading patterns yesterday. Likes of Balaji Tele, Sun
TV, UTV Software, Zee Enterprises have gained in a choppy trade. Other
prominent gainers yesterday include Axis Bank. Nitin Fire, Reliance
capital, Educomp solutions.
Markets are expected to open in green today and the trade is likely to
be choppy with bouts of volatility. As mentioned number of times long
term investors are adviced to pump money into the markets. There will
be no better times than these to invest in Indian Equities. Pre-budget
rally along with short covering is imminent and likely to emerge in
the next 10 days though the magnitude of the upmove might be less.
Market Close Box :
---------------------------
BSE Sensex 16608.01 -22.90
NSE Nifty 4838.25 -18.75
USD Rs.39.65
Oil Nymex $92.78
Dow Jones jumped 133 points on the news of billionaire investor Warren
Buffett's proposed buyout of bond insurers' liabilities and Bush
Govt's proposal to give a 30-day reprieve to home owners threatened
with foreclosure. Nasdaq ended the day almost unchanged. The indices
lost some of the gains in the last one hour. European markets closed
yesterday with gains of more than 3 percent.
Sooner the market will get into the mode of "No news is good news".
The situation is absolutely pathetic on the D-street with midcaps in a
devastated shape. There is no respite to the midcap selling though the
markets traded in a small band yesterday. May be the street might
witness some more blood shed in the midcap space. Absence of buying
from all the ends is adding on to the woes.
SEBI is reported to be considering to implement circuit filters for
the
stocks traded in the F&O segment. SEBI should have proactively come up
with this solution last Novemeber when we started witnessing 50% gains
in stocks traded in F&O in a single day. Better late than never.
Media stocks appear to have bottomed out compared to other sectors
looking at the trading patterns yesterday. Likes of Balaji Tele, Sun
TV, UTV Software, Zee Enterprises have gained in a choppy trade. Other
prominent gainers yesterday include Axis Bank. Nitin Fire, Reliance
capital, Educomp solutions.
Markets are expected to open in green today and the trade is likely to
be choppy with bouts of volatility. As mentioned number of times long
term investors are adviced to pump money into the markets. There will
be no better times than these to invest in Indian Equities. Pre-budget
rally along with short covering is imminent and likely to emerge in
the next 10 days though the magnitude of the upmove might be less.
Market Close Box :
---------------------------
BSE Sensex 16608.01 -22.90
NSE Nifty 4838.25 -18.75
USD Rs.39.65
Oil Nymex $92.78
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