Pre-Market Report on 17.09.2008
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B. Karthick
Sep 17, 2008, 12:05:06 AM9/17/08
to Kences1
Stocks set to open higher on a possible AIG bail out
Stocks on Dalal street might see some relief as the concerns of a
financial crisis has subsided, at least for now. Expect a 1 to 2
percent move in the sensex in today's trade.
Wall Street experienced another volatile day as rumors were ripe that
American International Group Inc. might come up with a much-needed
cash injection made room for many financial stocks to rally.The Dow at
turns rose and fell as much as 175 points before ending up 141 or 1.3
percent, where as the technology driven NASDAQ index gained 1.2
percent to end the day at 2207.90.
American International Group was on the brink of bankruptcy late
Tuesday as a private market solution to the giant insurer's problem
failed to materialize and government policymakers made no
announcements. The Federal Reserve will provide a roughly $85 billion
bridge loan to AIG and take a nearly 80 percent stake in the company.
Asian markets opened higher led by financials. The Japanese benchmark
index Nikkei gained more than 1.7 percent in early trades.Realty
sector which has been battered more than 16 percent in a week might
bounce back today. We advise investors to stay away from metals, as a
sector as we might see further correction in this sectors.
ICICI bank will be an interesting stock to watch in today's trade as
the company is expected to lose anywhere between $100 to $ 200 million
dollar because of its exposure to lehman through. the stock already
shed nearly 15 percent of its value in the past one week and is now
trading at Rs 591.
Banking stocks were very active in yesterday's trade and are likely to
remain active today as we have seen huge volumes in Canara Bank,
Andhra Bank and Dhanalakshmi Bank. Other speculative stocks that are
worth watching include, SEL manufacturing, Subhash Projects and KSK
energy.
Suitable stocks for intraday today:
<RELCAPITAL, DLF, BHEL, HDFCBANK, TATASTEEL, STER, PUNJLLOYD, TCS,
BPCL, PNB>
Market Close Box:
BSE Sensex 13518.80 -12.47
NSE Nifty 4074.90 2.00
USD Rs.46.63
Oil Nymex $91.15
B.Karthick
Research Analyst.
Stocks on Dalal street might see some relief as the concerns of a
financial crisis has subsided, at least for now. Expect a 1 to 2
percent move in the sensex in today's trade.
Wall Street experienced another volatile day as rumors were ripe that
American International Group Inc. might come up with a much-needed
cash injection made room for many financial stocks to rally.The Dow at
turns rose and fell as much as 175 points before ending up 141 or 1.3
percent, where as the technology driven NASDAQ index gained 1.2
percent to end the day at 2207.90.
American International Group was on the brink of bankruptcy late
Tuesday as a private market solution to the giant insurer's problem
failed to materialize and government policymakers made no
announcements. The Federal Reserve will provide a roughly $85 billion
bridge loan to AIG and take a nearly 80 percent stake in the company.
Asian markets opened higher led by financials. The Japanese benchmark
index Nikkei gained more than 1.7 percent in early trades.Realty
sector which has been battered more than 16 percent in a week might
bounce back today. We advise investors to stay away from metals, as a
sector as we might see further correction in this sectors.
ICICI bank will be an interesting stock to watch in today's trade as
the company is expected to lose anywhere between $100 to $ 200 million
dollar because of its exposure to lehman through. the stock already
shed nearly 15 percent of its value in the past one week and is now
trading at Rs 591.
Banking stocks were very active in yesterday's trade and are likely to
remain active today as we have seen huge volumes in Canara Bank,
Andhra Bank and Dhanalakshmi Bank. Other speculative stocks that are
worth watching include, SEL manufacturing, Subhash Projects and KSK
energy.
Suitable stocks for intraday today:
<RELCAPITAL, DLF, BHEL, HDFCBANK, TATASTEEL, STER, PUNJLLOYD, TCS,
BPCL, PNB>
Market Close Box:
BSE Sensex 13518.80 -12.47
NSE Nifty 4074.90 2.00
USD Rs.46.63
Oil Nymex $91.15
B.Karthick
Research Analyst.
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