Pre-Market Report on 18.08.2008
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B. Karthick
Aug 18, 2008, 12:12:50 AM8/18/08
to Kences1
Bulls look to cut loose banking on positive global cues
Dalal Street after a long break will resume trading on Monday. Stocks
are expected to gain in early trade as all the pointers indicate
towards a positive open. If all goes well we might see the Sensex
breaking the 15,000 level soon.
The US markets were mixed at close on Friday. The Dow gained nearly
0.38 percent, where as the Nasdaq closed nearly flat for the day.
Crude oil for September delivery rose as much as 98 cents, or 0.9
percent, to $114.75 a barrel on the New York Mercantile Exchange on
concerns of a tropical storm brewing in the Gulf of Mexico. Asian
markets opened higher in early trade. The Japanese benchmark index
Nikkei gained nearly 0.5 percent in early morning trade.
ADAG group made to the front page in the pink papers this morning.
Reliance Big Entertainment, which earlier this year announced that
global investor George Soros will invest $100 million for a 3% stake
in the company. In a separate development Big TV, the much-awaited
direct-to-home service from Reliance Anil Dhirubhai Ambani Group, will
be launched on August 19 in Mumbai.
Meanwhile inflation soared to a 16- year high and may accelerate
further after the government approved wage increases for civil
servants by an average of 21 percent. The inflation soared to 12.44
percent in the week to Aug 2. Punjab National Bank is negotiating with
Visa Inc. to start independent credit card services for its 35 million
customers and this might be a positive for the stock.
SEL Manufacturing, Maxwell Ind, Helios Matheson and HEG, ahead of its
board meeting to buy back shares might see some activity in early
trade. Subex Azure will be the stock to watch after gaining nearly 30
percent in the past 2 sessions on the news of stake sale. We see the
stock cooling off soon after the kind of move it has seen last week.
Suitable stocks for intraday trading:
=====================================
<ICICIBANK, AXISBANK, BHEL, TATAPOWER, SATYAMCOMP, MARUTI, LITL,
ADLABSFILM, DRREDDY, CENTURYTEX>
Market Close Box:
=================
BSE Sensex 14724.18 -368.94
NSE Nifty 4430.70 -98.35
USD Rs.42.67
Oil Nymex $116.0
B.Karthick
Research Analyst.
Dalal Street after a long break will resume trading on Monday. Stocks
are expected to gain in early trade as all the pointers indicate
towards a positive open. If all goes well we might see the Sensex
breaking the 15,000 level soon.
The US markets were mixed at close on Friday. The Dow gained nearly
0.38 percent, where as the Nasdaq closed nearly flat for the day.
Crude oil for September delivery rose as much as 98 cents, or 0.9
percent, to $114.75 a barrel on the New York Mercantile Exchange on
concerns of a tropical storm brewing in the Gulf of Mexico. Asian
markets opened higher in early trade. The Japanese benchmark index
Nikkei gained nearly 0.5 percent in early morning trade.
ADAG group made to the front page in the pink papers this morning.
Reliance Big Entertainment, which earlier this year announced that
global investor George Soros will invest $100 million for a 3% stake
in the company. In a separate development Big TV, the much-awaited
direct-to-home service from Reliance Anil Dhirubhai Ambani Group, will
be launched on August 19 in Mumbai.
Meanwhile inflation soared to a 16- year high and may accelerate
further after the government approved wage increases for civil
servants by an average of 21 percent. The inflation soared to 12.44
percent in the week to Aug 2. Punjab National Bank is negotiating with
Visa Inc. to start independent credit card services for its 35 million
customers and this might be a positive for the stock.
SEL Manufacturing, Maxwell Ind, Helios Matheson and HEG, ahead of its
board meeting to buy back shares might see some activity in early
trade. Subex Azure will be the stock to watch after gaining nearly 30
percent in the past 2 sessions on the news of stake sale. We see the
stock cooling off soon after the kind of move it has seen last week.
Suitable stocks for intraday trading:
=====================================
<ICICIBANK, AXISBANK, BHEL, TATAPOWER, SATYAMCOMP, MARUTI, LITL,
ADLABSFILM, DRREDDY, CENTURYTEX>
Market Close Box:
=================
BSE Sensex 14724.18 -368.94
NSE Nifty 4430.70 -98.35
USD Rs.42.67
Oil Nymex $116.0
B.Karthick
Research Analyst.
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