Pre-Market report on 08.09.2008
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Sukumar.N
Sep 7, 2008, 11:42:10 PM9/7/08
to Kences1
Bulls to take center stage as all indicators point north
===================================================
Bulls are set to dominate on the first trading day of the week as the
cloud of uncertainty over the Indo-US nuclear deal have cleared and
more importantly the broader market sentiment has improved over the
weekend on the news that the US government will take over the mortgage
giants Fannie and Freddie.
Stock futures across Asia are pointing for a higher open as the MSCI
Asia Index has experienced one of the worst weekly performance in more
than a year. In what could be called an encouraging development for
the stocks in Wall Street,the US government has taken over the
troubled mortgage giants Fannie Mae and Freddie Mac, aiming to
stabilize the housing market turmoil that is threatening financial
markets and the overall economy.
Fall in the crude is good news for the stocks and the economy on the
whole. The happiness might be short lived as it is widely expected
that the OPEC meeting in Vienna on Wednesday might decide to trim the
supply to avoid a further fall in prices of crude oil. BPCL, HPCL and
IOC looks like major beneficiaries as long as the fall continues.
Keep a close watch on Banking, IT and select midcap stocks in today's
trade. The market is expected to bounce more than 400 points as bulls
might get a big push from short covering in stocks. IT stocks are
likely to steal the limelight in the medium term taking advantage of
the fall in the rupee.
Tech Mahindra might see some activity on the news that the PE firm KKR
might be interested in buying out BT's stake in the company. Avoid
trading in Resurgere Mines intraday. Celestial labs, Sona Koyo
Steerings, IFCI and Kolte Patil Developers are some of the stocks to
keep on the radar for traders.Over all expect nearly a 400 point gain
for the Sensex with bulls taking the center stage.
Suitable stocks for 'Intraday' today
<ICICIBANK,BHARTIARTL,TATASTEEL,INFOSYSTCH,BHEL,HDIL,PUNJLLOYD,TATAMOTORS,
TATAPOWER,BOMDYEING>
market Close Box
BSE Sensex 14483.83 -415.27
NSE Nifty 4352.30 -95.45
USD Rs.44.37
Oil Nymex $106.2
N.Sukumar
Research Analyst
===================================================
Bulls are set to dominate on the first trading day of the week as the
cloud of uncertainty over the Indo-US nuclear deal have cleared and
more importantly the broader market sentiment has improved over the
weekend on the news that the US government will take over the mortgage
giants Fannie and Freddie.
Stock futures across Asia are pointing for a higher open as the MSCI
Asia Index has experienced one of the worst weekly performance in more
than a year. In what could be called an encouraging development for
the stocks in Wall Street,the US government has taken over the
troubled mortgage giants Fannie Mae and Freddie Mac, aiming to
stabilize the housing market turmoil that is threatening financial
markets and the overall economy.
Fall in the crude is good news for the stocks and the economy on the
whole. The happiness might be short lived as it is widely expected
that the OPEC meeting in Vienna on Wednesday might decide to trim the
supply to avoid a further fall in prices of crude oil. BPCL, HPCL and
IOC looks like major beneficiaries as long as the fall continues.
Keep a close watch on Banking, IT and select midcap stocks in today's
trade. The market is expected to bounce more than 400 points as bulls
might get a big push from short covering in stocks. IT stocks are
likely to steal the limelight in the medium term taking advantage of
the fall in the rupee.
Tech Mahindra might see some activity on the news that the PE firm KKR
might be interested in buying out BT's stake in the company. Avoid
trading in Resurgere Mines intraday. Celestial labs, Sona Koyo
Steerings, IFCI and Kolte Patil Developers are some of the stocks to
keep on the radar for traders.Over all expect nearly a 400 point gain
for the Sensex with bulls taking the center stage.
Suitable stocks for 'Intraday' today
<ICICIBANK,BHARTIARTL,TATASTEEL,INFOSYSTCH,BHEL,HDIL,PUNJLLOYD,TATAMOTORS,
TATAPOWER,BOMDYEING>
market Close Box
BSE Sensex 14483.83 -415.27
NSE Nifty 4352.30 -95.45
USD Rs.44.37
Oil Nymex $106.2
N.Sukumar
Research Analyst
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