Pre-Market report on 06.08.2008
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JIGU JIKKA SUKU
Aug 5, 2008, 11:56:27 PM8/5/08
to Kences1
No stopping for the Sensex, Stocks on a rally mode
===================================================
Stocks are set to rally in a big way on Dalal Stareet for the second
day in a row as Oil drifted down again to provide the much needed
impetus for a long awaited rally in equities. We see the index closing
above the 15,300 level in today's trade.
The Dow and Nasdaq rallied in a big way as investors responded
positively to a report that services sector activity fell less than
expected last month and to another drop in oil prices that took crude
as low as $118 a barrel. Fed's positive comments about the economy
fueled the stocks which were already on fire. Asian markets are
expected to register decent gains as things look rosy at once.
In the domestic market watch out for the Oil marketing firms like
HPCL, BPCL and Indian Oil as the oil ministry last week approached the
finance ministry seeking oil bonds in advance for the second and third
quarters of the current fiscal 2008-09. Private banks again are
looking great on the build up that the they will be re-rated once the
foreign holding limit is relaxed. second rung IT stocks might make a
come back on hopes of a recovery in the US market. The valuations look
cheap in this space.
Expect some churning and rotation in the current market scenario, as
we will see some new gainers on the board every day. Airline stocks
like Deccan and Jet Air might extend their gains today on hopes of
improved profitability.Expect some speculative stocks like HFCL, LML
and DCW to spring back to life as operators are getting active in
these counters.Last but not the least there might be some late action
in the brokerage stocks like Motilal, religare and IndiaBulls
securities. On the whole a positive day with a gap up opening and
probably another gain of more than 2 percent on cards.
Suitable stocks for "Intraday" today
<TATASTEEL,ONGC,BHARTIARTL,SUZLON,BPCL,PUNJLLOYD,JINDALSTEL,TCS,ADLABSFILM,
ABB>
Market Close Box
BSE Sensex 14961.07 383.20
NSE Nifty 4502.85 107.50
USD Rs.42.28
Oil Nymex $119.1
N.Sukumar
Research Analyst
===================================================
Stocks are set to rally in a big way on Dalal Stareet for the second
day in a row as Oil drifted down again to provide the much needed
impetus for a long awaited rally in equities. We see the index closing
above the 15,300 level in today's trade.
The Dow and Nasdaq rallied in a big way as investors responded
positively to a report that services sector activity fell less than
expected last month and to another drop in oil prices that took crude
as low as $118 a barrel. Fed's positive comments about the economy
fueled the stocks which were already on fire. Asian markets are
expected to register decent gains as things look rosy at once.
In the domestic market watch out for the Oil marketing firms like
HPCL, BPCL and Indian Oil as the oil ministry last week approached the
finance ministry seeking oil bonds in advance for the second and third
quarters of the current fiscal 2008-09. Private banks again are
looking great on the build up that the they will be re-rated once the
foreign holding limit is relaxed. second rung IT stocks might make a
come back on hopes of a recovery in the US market. The valuations look
cheap in this space.
Expect some churning and rotation in the current market scenario, as
we will see some new gainers on the board every day. Airline stocks
like Deccan and Jet Air might extend their gains today on hopes of
improved profitability.Expect some speculative stocks like HFCL, LML
and DCW to spring back to life as operators are getting active in
these counters.Last but not the least there might be some late action
in the brokerage stocks like Motilal, religare and IndiaBulls
securities. On the whole a positive day with a gap up opening and
probably another gain of more than 2 percent on cards.
Suitable stocks for "Intraday" today
<TATASTEEL,ONGC,BHARTIARTL,SUZLON,BPCL,PUNJLLOYD,JINDALSTEL,TCS,ADLABSFILM,
ABB>
Market Close Box
BSE Sensex 14961.07 383.20
NSE Nifty 4502.85 107.50
USD Rs.42.28
Oil Nymex $119.1
N.Sukumar
Research Analyst
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