Pre-Market report on 04.08.2008
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SUKUHOPES
Aug 4, 2008, 12:19:44 AM8/4/08
to Kences1
Stocks set to open flat, Midcaps to take the lead
===================================================
Markets are expected to open flat on Monday morning as stocks will try
to consolidate after a decent rally on Friday. Expect the market to
trade in a narrow band of nearly 100 points either ways.
Stocks on the Wall Street ended in the negative territory on Firday as
both the Dow and Nasdaq closed down by half a percent. Meanwhile crude
resumed its up move after having corrected more than 20 dollars from
its high in the past two weeks.Crude oil for September delivery rose
as much as $1.21, or 1 percent, to $126.31 a barrel in after-hours
electronic trading on the New York Mercantile Exchange. Asian markets
remained little changed on opening bell today and the Nikkei is
trading flat gaining 7 points at the time of this review.
Better than expected Q1 performance by the companies in the index has
relieved some of the pressure on the indices and also gave a strong
case for the mutual funds and the investors a reason to buy in to
attractively valued stocks. There are rumors going back and forth in
the market about the possible hike in cement prices and this might
turn out to be a positive for the firms in this sector.According to a
report by Centre for Monitoring Indian Economy (CMIE) edible oil
prices are likely to remain firm for the next three-four months and
this might create some demand for the shares of companies like KS Oils
and Ruchi Soya. Expect sugar companies to take a breather after a huge
rally on Friday.
Metals as a sector might continue their uptrend backed by strong
performance from Tata Steel on Friday.Rohit Ferro Technology (Rs 161)
might be a speculative pick in this sector that might be a good trade
this morning. The stocks Escorts, First Winner Industries, Ksera Sera
and Triveni engineering look hot for Monday's trade as we have seen
some decent price and volume action in these counters on Friday.
Overall a flat day with some serious action in the midcap space.
Suitable stocks for "Intraday" today
<RELCAPITAL,BHARTIARTL,DLF,TATASTEEL,AXISBANK,RANBAXY,INFOSYSTCH,SESAGOA,
ADLABSFILM,MARUTI>
Market Close Box
BSE Sensex 14656.69 300.94
NSE Nifty 4413.55 80.60
USD Rs.42.37
Oil Nymex $125.1
N.Sukumar
Research Analyst
===================================================
Markets are expected to open flat on Monday morning as stocks will try
to consolidate after a decent rally on Friday. Expect the market to
trade in a narrow band of nearly 100 points either ways.
Stocks on the Wall Street ended in the negative territory on Firday as
both the Dow and Nasdaq closed down by half a percent. Meanwhile crude
resumed its up move after having corrected more than 20 dollars from
its high in the past two weeks.Crude oil for September delivery rose
as much as $1.21, or 1 percent, to $126.31 a barrel in after-hours
electronic trading on the New York Mercantile Exchange. Asian markets
remained little changed on opening bell today and the Nikkei is
trading flat gaining 7 points at the time of this review.
Better than expected Q1 performance by the companies in the index has
relieved some of the pressure on the indices and also gave a strong
case for the mutual funds and the investors a reason to buy in to
attractively valued stocks. There are rumors going back and forth in
the market about the possible hike in cement prices and this might
turn out to be a positive for the firms in this sector.According to a
report by Centre for Monitoring Indian Economy (CMIE) edible oil
prices are likely to remain firm for the next three-four months and
this might create some demand for the shares of companies like KS Oils
and Ruchi Soya. Expect sugar companies to take a breather after a huge
rally on Friday.
Metals as a sector might continue their uptrend backed by strong
performance from Tata Steel on Friday.Rohit Ferro Technology (Rs 161)
might be a speculative pick in this sector that might be a good trade
this morning. The stocks Escorts, First Winner Industries, Ksera Sera
and Triveni engineering look hot for Monday's trade as we have seen
some decent price and volume action in these counters on Friday.
Overall a flat day with some serious action in the midcap space.
Suitable stocks for "Intraday" today
<RELCAPITAL,BHARTIARTL,DLF,TATASTEEL,AXISBANK,RANBAXY,INFOSYSTCH,SESAGOA,
ADLABSFILM,MARUTI>
Market Close Box
BSE Sensex 14656.69 300.94
NSE Nifty 4413.55 80.60
USD Rs.42.37
Oil Nymex $125.1
N.Sukumar
Research Analyst
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