Pre-Market Report on 01.10.2008

[B. Karthick]

Bulls look to dominate, banking on Tuesday's rally

After putting on a good show yesterday,the stocks on Dalal Street look
to repeat their performance on Wednesday. Bulls are likely to take
advantage of the easing concerns in the global financial markets.
Expect the market to inch up by nearly 250 points or 2 percent.

U.S. stock indexes on Tuesday blasted back from the prior session's
historic rout, with the Dow Jones Industrial Average chalking up its
third-biggest point gain on optimism that a rescue plan would make a
comeback in coming days on Capitol Hill. The Dow Jones Industrial
Average gained 485.21 points, or 4.7%, to 10,850.66.

Asian stocks climbed, snapping a six- day losing streak, on
speculation the U.S. Senate will approve a $700 billion bank rescue
plan tomorrow. Japan's Nikkei 225 Stock Average gained 1.6 percent to
11,443.45 and all the major indices in the region are off for a decent
start today.

Things are returning to normalcy as investors concerns on the domestic
banking sector were calmed by the Reserve Bank of India and Finance
Minister Palaniappan Chidambaram reassurance that India's second-
largest bank ICICI has enough capital to breeze through the crisis.

Banking, Realty and IT led the rally yesterday and this is expected to
continue today with broader participation from the other sectors. It
looks like we have reached attractive levels as far as the valuations
of the stocks are concerned. So we have witnessed some bargain hunting
at lower levels.

Stocks like Grasim, ACC and Ranbaxy are available at attractive levels
for the long term investors.We strictly advice against day trading in
these markets, as they are expected to be volatile. So it is crucial
for the investors to put their money in to stocks with great
fundamentals.

Suitable stocks for intraday today:
<ICICIBANK, BHEL, HDFCBANK, SATYAMCOMP, RCOM, RANBAXY, GAIL, SIEMENS,
HEROHONDA, GRASIM>

Market Close Box:
BSE Sensex 12860.43 264.68
NSE Nifty 3921.20 71.15
USD Rs.47.06
Oil Nymex $100.6

B.Karthick
Research Analyst.