Pre-Market report on 01.07.2008
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N.Sukumar
Jul 1, 2008, 12:12:45 AM7/1/08
to Kences1
Fire Sale on Dalal Street, time to get your shopping list ready
===================================================
After a bad start to the week the Sensex is headed for another day of
losses as things did not change much in the past 24 hours. All we can
say is that the 13,000.00 level will hold for the day as the selling
is expected to subside as some value buying might emerge at lower
levels.
The US markets ended mixed as the Dow Jones Industrial Average ended
flat at 11.350.01, where as the NASDAQ lost nearly a percentage losing
22 points closing at 2,292.98.Light, sweet crude for August delivery
lost 21 cents to settle at $140.00 a barrel on the New York Mercantile
Exchange before setting a new record at $143.67.This was the worst
first half for the Dow Jones industrials since 1970 as stocks went
down hill on subprime, credit concerns in beginning of the year and
got hit by the spike in the crude prices. Meanwhile stocks opened
lower in Asian markets indicating a lower open in the domestic
markets.
Stocks look cheaper after the Sensex lost nearly 34 percent this year.
The are lot of bargains which one could start accumulating from a long
term perspective. We want reiterate one more time, stay away from
Realty and keep Banking on the radar to start accumulating few some
quality banks. Although the worst is not over in this sector, it is
not a bad time to accumulate a little bit of SBI and ICICI in small
lots. As mentioned yesterday Tata Motors took a beating yesterday and
the stocks is now trading at a price which is 50 percent below its
high set in Oct 2007. The stocks is currently at Rs 426 and one could
look at it and start accumulating between Rs 300 and Rs 390 from a
long term perspective.
We like a lot of stocks at their current market prices. Concentrate on
quality stocks with great management. The beauty of the fall is that
there are lot of A group stocks available at bargains and so start
getting in to these stocks in small lots. So Seize this opportunity
and start accumulating and do not forget, in SMALL LOTS. Because we do
not know where the bottom is and at the same time cannot afford to
lose the opportunity to buy, when everyone in the market is selling.
Suitable stocks for "Intraday" today
<RPL,INFOSYSTCH,BHARTIARTL,ONGC,STER,INDIABULLS,SUNPHARMA,GAIL,NATIONALUM,
DRREDDY>
Market Close Box
BSE Sensex 13461.60 -340.62
NSE Nifty 4040.55 -96.10
USD Rs.42.95
Oil Nymex $140.0
N.Sukumar
Research Analyst
===================================================
After a bad start to the week the Sensex is headed for another day of
losses as things did not change much in the past 24 hours. All we can
say is that the 13,000.00 level will hold for the day as the selling
is expected to subside as some value buying might emerge at lower
levels.
The US markets ended mixed as the Dow Jones Industrial Average ended
flat at 11.350.01, where as the NASDAQ lost nearly a percentage losing
22 points closing at 2,292.98.Light, sweet crude for August delivery
lost 21 cents to settle at $140.00 a barrel on the New York Mercantile
Exchange before setting a new record at $143.67.This was the worst
first half for the Dow Jones industrials since 1970 as stocks went
down hill on subprime, credit concerns in beginning of the year and
got hit by the spike in the crude prices. Meanwhile stocks opened
lower in Asian markets indicating a lower open in the domestic
markets.
Stocks look cheaper after the Sensex lost nearly 34 percent this year.
The are lot of bargains which one could start accumulating from a long
term perspective. We want reiterate one more time, stay away from
Realty and keep Banking on the radar to start accumulating few some
quality banks. Although the worst is not over in this sector, it is
not a bad time to accumulate a little bit of SBI and ICICI in small
lots. As mentioned yesterday Tata Motors took a beating yesterday and
the stocks is now trading at a price which is 50 percent below its
high set in Oct 2007. The stocks is currently at Rs 426 and one could
look at it and start accumulating between Rs 300 and Rs 390 from a
long term perspective.
We like a lot of stocks at their current market prices. Concentrate on
quality stocks with great management. The beauty of the fall is that
there are lot of A group stocks available at bargains and so start
getting in to these stocks in small lots. So Seize this opportunity
and start accumulating and do not forget, in SMALL LOTS. Because we do
not know where the bottom is and at the same time cannot afford to
lose the opportunity to buy, when everyone in the market is selling.
Suitable stocks for "Intraday" today
<RPL,INFOSYSTCH,BHARTIARTL,ONGC,STER,INDIABULLS,SUNPHARMA,GAIL,NATIONALUM,
DRREDDY>
Market Close Box
BSE Sensex 13461.60 -340.62
NSE Nifty 4040.55 -96.10
USD Rs.42.95
Oil Nymex $140.0
N.Sukumar
Research Analyst
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