Pre-Market report on 08.07.2008
0 views
Skip to first unread message
SUKU OPTIMISTIC
Jul 8, 2008, 12:05:46 AM7/8/08
to Kences1
Markets to trade in a narrow band
===================================================
The Indian markets after a positive start to the wee yesterday might
witness some resistance around 13,600.00 levels. We expect the market
to trade in a narrow band of one percent either ways.
Overnight the US markets lost more ground in extremely volatile
trading Monday, as investors recoiled at a cautious economic outlook
from a Federal Reserve official and the possibility of a crisis in
some of the financial institutions.Asian markets started off on a
lower note sympathising with the move in the Wall Street. Nikkie is
down by nearly one percent at the time of this review.
Reliance communications might witness some pressure as the promoters
led by Anil Ambani will pick up 51 per cent in South African telecom
company MTN group through a cash and share swap.Rumours are going
rounds that the Spice Jet deal with Mallya might not go through and
the management of the company is discussing another deal with renowned
investor Wilbur Ross. In a separate development there is a possibility
of Citi Group selling its stake worth $ 2 billion in HDFC the leading
housing finance company on India.
Meanwhile Dubai International LLC, the asset management firm has
reinstated its confidence in India and said that it is planning to
invest nearly $ 5 billion in India in the next 2-3 years. The company
has already picked up a sizable stake in ICICI Bank.On the IPO front
UTI asset management has shut down its plans of an IPO as the market
conditions worsened and are unfavourable for the primary market.
Textile fabric maker First Winner Industries will list on the bourses
today. The company came out with an IPO with an issue price of Rs 125.
The issue was met with a luke warm response and managed to get
subscribed 1.26 times.Expect a subdues listing for the stock.
Suitable stocks for "Intraday" today
<DLF,BHEL,INFOSYSTCH,ESSAROIL,TATAPOWER,KOTAKBANK,BOMDYEING,LITL,EDUCOMP,ABB>
Market Close Box
BSE Sensex 13525.99 71.99
NSE Nifty 4030.00 14.00
USD Rs.43.34
Oil Nymex $145.2
N.Sukumar
Research Analyst
===================================================
The Indian markets after a positive start to the wee yesterday might
witness some resistance around 13,600.00 levels. We expect the market
to trade in a narrow band of one percent either ways.
Overnight the US markets lost more ground in extremely volatile
trading Monday, as investors recoiled at a cautious economic outlook
from a Federal Reserve official and the possibility of a crisis in
some of the financial institutions.Asian markets started off on a
lower note sympathising with the move in the Wall Street. Nikkie is
down by nearly one percent at the time of this review.
Reliance communications might witness some pressure as the promoters
led by Anil Ambani will pick up 51 per cent in South African telecom
company MTN group through a cash and share swap.Rumours are going
rounds that the Spice Jet deal with Mallya might not go through and
the management of the company is discussing another deal with renowned
investor Wilbur Ross. In a separate development there is a possibility
of Citi Group selling its stake worth $ 2 billion in HDFC the leading
housing finance company on India.
Meanwhile Dubai International LLC, the asset management firm has
reinstated its confidence in India and said that it is planning to
invest nearly $ 5 billion in India in the next 2-3 years. The company
has already picked up a sizable stake in ICICI Bank.On the IPO front
UTI asset management has shut down its plans of an IPO as the market
conditions worsened and are unfavourable for the primary market.
Textile fabric maker First Winner Industries will list on the bourses
today. The company came out with an IPO with an issue price of Rs 125.
The issue was met with a luke warm response and managed to get
subscribed 1.26 times.Expect a subdues listing for the stock.
Suitable stocks for "Intraday" today
<DLF,BHEL,INFOSYSTCH,ESSAROIL,TATAPOWER,KOTAKBANK,BOMDYEING,LITL,EDUCOMP,ABB>
Market Close Box
BSE Sensex 13525.99 71.99
NSE Nifty 4030.00 14.00
USD Rs.43.34
Oil Nymex $145.2
N.Sukumar
Research Analyst
Reply all
Reply to author
Forward
0 new messages