Pre-Market Report on 04.09.2008
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Sukumar.N
Sep 4, 2008, 12:06:35 AM9/4/08
to Kences1
Markets to be range bound, 15,000 to be crucial for the Sensex
===================================================
Bulls on Dalal Street look to gear up for another bullish day after a
long holiday weekend. Expect the sensex to inch up by 0.5 percent to a
percent and close above the 15,000 level.
U.S. stocks on Wednesday veered to a mixed close, with the S&P 500 and
Nasdaq Composite extending losses into a third day in jumpy trade, as
an upbeat report on the manufacturing sector failed to offset worries
about a global economic slowdown.Light, sweet crude futures ended the
day down 36 cents at $109.35 a barrel on the New York Mercantile
Exchange. Asian markets opened slightly lower in the opening trade
moving in tandem with the stocks in Wall Street.
Tata Motors, said yesterday it was considering moving the factory in
Singur, West Bengal, because of a 10-day blockade by Trinamool
Congress.ONGC might be in demand today on news that it is planning to
list its wholly-owned overseas exploration subsidiary ONGC Videsh Ltd
sometime in 2009.Mahindra & Mahindra Ltd is another stock to watch out
as the company has plans to buy two-wheeler companies overseas,
including a European high-performance bikemaker to bolster its newly
acquired motorcycle business.
We like IT stocks at this point of time due to the depreciation in
Rupee and the trend is likely to continue in the medium term. In
short, we are extremely bullish on Dollar Vs Rupee at this point of
time and a easy way to take advantage of this move is to take some
exposure to the technology stocks.
Watch out for the Airline stocks like Jet and Deccan as there is some
more room for an up move.Expect the Sensex to take a pause after the
big move on Friday. So the Sensex is likely to trade in a narrow band
with a positive bias.
Suitable stocks for 'Intraday' today
<ICICIBANK,BHEL,BHARTIARTL,RANBAXY,SATYAMCOMP,TATAPOWER,GAIL,TATAMOTORS,
JINDALSTEL,STER>
Market Close Box
BSE Sensex 15049.86 551.35
NSE Nifty 4504.00 155.35
USD Rs.44.26
Oil Nymex $109.3
N.Sukumar
Research Analyst
===================================================
Bulls on Dalal Street look to gear up for another bullish day after a
long holiday weekend. Expect the sensex to inch up by 0.5 percent to a
percent and close above the 15,000 level.
U.S. stocks on Wednesday veered to a mixed close, with the S&P 500 and
Nasdaq Composite extending losses into a third day in jumpy trade, as
an upbeat report on the manufacturing sector failed to offset worries
about a global economic slowdown.Light, sweet crude futures ended the
day down 36 cents at $109.35 a barrel on the New York Mercantile
Exchange. Asian markets opened slightly lower in the opening trade
moving in tandem with the stocks in Wall Street.
Tata Motors, said yesterday it was considering moving the factory in
Singur, West Bengal, because of a 10-day blockade by Trinamool
Congress.ONGC might be in demand today on news that it is planning to
list its wholly-owned overseas exploration subsidiary ONGC Videsh Ltd
sometime in 2009.Mahindra & Mahindra Ltd is another stock to watch out
as the company has plans to buy two-wheeler companies overseas,
including a European high-performance bikemaker to bolster its newly
acquired motorcycle business.
We like IT stocks at this point of time due to the depreciation in
Rupee and the trend is likely to continue in the medium term. In
short, we are extremely bullish on Dollar Vs Rupee at this point of
time and a easy way to take advantage of this move is to take some
exposure to the technology stocks.
Watch out for the Airline stocks like Jet and Deccan as there is some
more room for an up move.Expect the Sensex to take a pause after the
big move on Friday. So the Sensex is likely to trade in a narrow band
with a positive bias.
Suitable stocks for 'Intraday' today
<ICICIBANK,BHEL,BHARTIARTL,RANBAXY,SATYAMCOMP,TATAPOWER,GAIL,TATAMOTORS,
JINDALSTEL,STER>
Market Close Box
BSE Sensex 15049.86 551.35
NSE Nifty 4504.00 155.35
USD Rs.44.26
Oil Nymex $109.3
N.Sukumar
Research Analyst
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