Pre-Market report on 09.07.2008
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suguhopes
Jul 9, 2008, 12:14:34 AM7/9/08
to Kences1
Left withdraws, Oil heads south, Sensex points north
===================================================
Dalal Street might see a rally today on positive knows all over, which
might bode well for the bulls. Expect the Sensex to cross the 13,600
level comfortably today.
Overnight the US markets rallied towards the end of the day after
trading flat for most of the day. The Dow Jones industrials gained
more than 150 points, and all the major indexes were up more than 1
percent on the hopes that the Fed might offer the much needed support
to the ailing financial sector and also a decline in the Crude Oil
price. Asian markets opened in green and are expected to close higher
cashing in on the positive mood in the global markets.
Light, sweet crude for August delivery fell $5.33 to settle at
$136.04, after earlier slumping as low as $135.14. Watch out for the
Oil marketing companies HPCL and BPCL that have taken heat all these
days. Both the stocks have lost 60 to 70 percent of value since oil
prices started heading north. Another stock that might show some
activity in today's trade is Reliance Communications which according
to news report might not go through with the MTN deal, a positive for
the stock in the short run.
Aviation is again going to be in hot spot on fall in Oil and humongous
interest evinced by investors in taking over Spice Jet. Watch out for
Jet Airways and Deccan in this space. Finally getting the political
news in to the equation, withdrawal of support from Left might bode
well for the ruling government and most importantly the reforms in the
country. Left getting out of the government is infact worth a rally if
5,000 points on the index and this is not a joke. So expect a good
beginning and a great close in today's trade.
Suitable stocks for "Intraday" today
<RELIANCE,BHEL,BHARTIARTL,ONGC,HDFC,ADLABSFILM,RANBAXY,TCS,SEZSAGOA,
BOMDYEING>
Market Close Box
BSE Sensex 13349.65 -176.34
NSE Nifty 3988.55 -41.45
USD Rs.43.34
Oil Nymex $145.2
N.Sukumar
Research Analyst
===================================================
Dalal Street might see a rally today on positive knows all over, which
might bode well for the bulls. Expect the Sensex to cross the 13,600
level comfortably today.
Overnight the US markets rallied towards the end of the day after
trading flat for most of the day. The Dow Jones industrials gained
more than 150 points, and all the major indexes were up more than 1
percent on the hopes that the Fed might offer the much needed support
to the ailing financial sector and also a decline in the Crude Oil
price. Asian markets opened in green and are expected to close higher
cashing in on the positive mood in the global markets.
Light, sweet crude for August delivery fell $5.33 to settle at
$136.04, after earlier slumping as low as $135.14. Watch out for the
Oil marketing companies HPCL and BPCL that have taken heat all these
days. Both the stocks have lost 60 to 70 percent of value since oil
prices started heading north. Another stock that might show some
activity in today's trade is Reliance Communications which according
to news report might not go through with the MTN deal, a positive for
the stock in the short run.
Aviation is again going to be in hot spot on fall in Oil and humongous
interest evinced by investors in taking over Spice Jet. Watch out for
Jet Airways and Deccan in this space. Finally getting the political
news in to the equation, withdrawal of support from Left might bode
well for the ruling government and most importantly the reforms in the
country. Left getting out of the government is infact worth a rally if
5,000 points on the index and this is not a joke. So expect a good
beginning and a great close in today's trade.
Suitable stocks for "Intraday" today
<RELIANCE,BHEL,BHARTIARTL,ONGC,HDFC,ADLABSFILM,RANBAXY,TCS,SEZSAGOA,
BOMDYEING>
Market Close Box
BSE Sensex 13349.65 -176.34
NSE Nifty 3988.55 -41.45
USD Rs.43.34
Oil Nymex $145.2
N.Sukumar
Research Analyst
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