Pre-Market report on 24.07.2008

[K.Karthik Raja]

Sensex to march past 15,000 in style
Jul 24, 2008 | 9.40AM

The Sensex is expected to continue its jolly ride as crude continues
to fall
and positive news keeps coming from the global markets. We see the
Sensex
marching past the 15,000 level comfortably in today's trade.

Stocks advanced for the second straight session Wednesday as another
decline
in oil prices and several upbeat profit reports eased some of Wall
Street's
concerns about the economy. The Dow advanced by 0.26 percent to
11,632.38
and the Nasdaq inched by nearly a percent by 22 points to 2,325.88.
Meanwhile,sweet crude fell $3.98 to settle at $124.44 a barrel on the
New
York Mercantile Exchange.Oil is now down more than $20 a barrel since
hitting a record above $147 just weeks ago. Asian stocks are all set
to
rally for the fourth consecutive day on Thursday.

PSU's and banking stocks look to be on a strong footing as the
euphoria over
reforms getting a leg-up following the UPA Government surviving a
trust
vote. Yesterday was a dream day for ADAG group stocks led by RNRL
which
moved up more than 20 percent. Reliance Power showed heightened
activity
ahead of the results on Friday. Tea will be an interesting sector to
watch
for the coming week as we might see good set of numbers from the
sector in
the next few days.

Power and Engineering might take the lead in the next few sessions.
Watch
out for Tata Power as it will be a new addition to the BSE index
starting
July 28th. NTPC and PFC are the other related stocks that could see
some
action. Cummins, BHEL, Sadbhav Eng and Punjab Lloyd are some
interesting
picks in the engineering sector. Expect another victory for bulls and
some
fire works in the midcap space as the indices are all set to break
15,000
level in style.

BSE Sensex 14942.28 838.08
NSE Nifty 4476.80 236.70
USD Rs.42.33
Oil Nymex $124.4

K.Karthik Raja