Pre-Market Report on 19.09.2008

[K.Karthik Raja]

Stocks set to finish the week in Style
Sep 19, 2008

Stocks on Dalal Street are set to make rally and the week in styles as
bulls
are expected to dominate the session. Expect the Sensex to gain nearly
3 to
4 percent for the day and may be much more, closer to the 14,000
levels if
all goes well.

U.S. stocks blasted higher in the final hour of trade Thursday in a
fourth
day of roller-coaster activity amid reports the government is
considering a
permanent solution to the credit crisis and as regulators looked to
hinder
bets against financial institutions. The Dow jumped 3.86 percent,
wheer as
the Nasdaq bounced 4.7 percent to end the day.

Asian markets advanced early Friday as financials like Mizuho
Financial
Group got a boost from news the U.S. government was considering a
permanent
solution to the financial crisis.Nikkei gained more than 3 percent in
early
trade.

Expect Realty and Banking sectors to take the center stage as these
sectors
took a beating in the past 7 sessions. All the pointers are
indicationg a
higher open. Positive comments from FM boosted the sentiment
yesterday. The
inflation numbers came in at a 5 week and this might help in avoiding
another round of interest hike by the RBI.

Coming to stock specific action, Watch of out for a strong move in
ICICI
Bank, IFCI and the IT majors. IFCI and RNRL and Chambal Fertlizers
might see
some serious action. Resurgere mines after a crash from its peak might
see
some renewed interest as the stock has fallen to Rs 192 level from a
high of
nearly Rs 630.On the whole a great day for stocks is in the offing. We
feel
that its is not a great day to trade as the market is likely to have
a
higher opening, so there is not much on the table for the intra day
players.
It is right place for value Buying for long term investment.

Previous Close Box :

BSE Sensex 13315.60 52.70
NSE Nifty 4038.15 29.90
USD Rs.46.71
Oil Nymex $96.40

K.Karthik Raja