Pre-Market report on 09.09.2008

[B. Karthick]

Bulls look to dominate as Sensex tries to get past the 15K mark
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Stocks on Dalal Street are set for a slightly higher open as the
indices will likely consolidate after huge gain on Monday. Do not
expect sharp spike in the market, we might see a 0.5 to 1 percent or
nearly 150 points testing the 15,000 levels once again.

U.S. stocks ended sharply higher Monday after the government seized
mortgage giants Fannie Mae and Freddie Mac to prevent trillions of
dollars in mortgage-backed securities from defaulting and to bring
down mortgage rates nationwide.The Dow gained 290 points or 2.59
percent, where as the Nasdaq ended a volatile session with a gain of
nearly 14 points or 0.62 points at 2,269.76.

Nuclear Power Corp government run monopoly, will begin talks this
month with Areva SA and General Electric Co for reactors. We believe
that there is some more juice left in the power stocks like Tata
Power, NTPC and Hindustan Construction. Banking stocks still look
attractive for a trade in current market and the action might shift to
mid size private banks like DCB, Yes Bank and IndusInd Bank.

Speculative stocks are making a come back as things have started
getting better in the market. Bhagwati Banquets, Aptech, GSS America
and Karuturi Global looked explosive yesterday and might stretch their
gains for another day.

Watch out some sharp moves in IFCI and Tourism Finance today as these
stocks might get a boost from the euphoria in financials in the global
markets. Jayshree Tea and Rain Commodities might see some investor
interest ahead of their board meetings to buy back shares and
restructuring.

Suitable stocks for intraday today:
<ICICIBANK, RELIANCE, BHEL, ONGC, INFOSYSTCH, BHARTIARTL, KOTAKBANK,
MARUTI, TATAPOWER, WIPRO>

Market Close Box:
BSE Sensex 14944.97 461.14
NSE Nifty 4482.30 130.00
USD Rs.44.26
Oil Nymex $109.8

B.Karthick
Research Analyst.