Pre-Market Report on 21.08.2008
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SUKUHOPES
Aug 21, 2008, 12:13:51 AM8/21/08
to Kences1
Bulls look to build on the gains from yesterday, as bears take a
pause
===================================================
Stocks in Mumbai are expected to inch higher on opening bell as no
news is considered as good news on the street. Expect the sensex to
gain another 100 points in today's trade. Stocks across Asia opened
higher in the morning session.
On Wall Street, Stocks ended a volatile low-volume session firmly
higher Wednesday, with rising oil prices lifting the energy sector and
upbeat results from Hewlett-Packard helping offset concerns about
ailing financial firms.The Dow Jones industrial average rose 68.88, or
0.61 percent, to 11,417.43 after being down by nearly 60 points and up
more than 100.Light, sweet crude rose 45 cents to $114.98 per barrel
on the New York Mercantile Exchange, after alternating between gains
and losses.
Technology, realty and power stocks are expected to take the lead in
the short term.RIL might see some brisk trading today after saying
that is in talks with Brazilian energy giant Petrobas. Reliance Petro
might gain on the back of reports that the production is expected to
start as planned in September.Media sector might be a dark horse in
the coming days and stocks like Bag Films, TV Today, DISH TV and
Balaji Tele might see some positive moves as the euphoria from ADAG's
entry in to the media sector might rub off on these stocks.
Most of the activity in the market should be limited to speculative
midcaps, as we have seen some strong moves yesterday. Thomas Cook,
Atlanta Ltd, HOCL and BIL Power look technically poised to extend
their gains for another day. Expect a decent day of trading as bears
take a breather and bulls look to consolidate on the gains from
Wednesday.
Suitable stocks for 'Intraday' today
<RELCAPITAL,ICICIBANK,BHARTIARTL,BHEL,ONGC,HDFCBANK,RANBAXY,DLF,PUNJLLOYD,
ADLABSFILM>
Market Close Box
BSE Sensex 14678.23 134.50
NSE Nifty 4415.75 47.50
USD Rs.43.72
Oil Nymex $114.9
N.Sukumar
Research Analyst
pause
===================================================
Stocks in Mumbai are expected to inch higher on opening bell as no
news is considered as good news on the street. Expect the sensex to
gain another 100 points in today's trade. Stocks across Asia opened
higher in the morning session.
On Wall Street, Stocks ended a volatile low-volume session firmly
higher Wednesday, with rising oil prices lifting the energy sector and
upbeat results from Hewlett-Packard helping offset concerns about
ailing financial firms.The Dow Jones industrial average rose 68.88, or
0.61 percent, to 11,417.43 after being down by nearly 60 points and up
more than 100.Light, sweet crude rose 45 cents to $114.98 per barrel
on the New York Mercantile Exchange, after alternating between gains
and losses.
Technology, realty and power stocks are expected to take the lead in
the short term.RIL might see some brisk trading today after saying
that is in talks with Brazilian energy giant Petrobas. Reliance Petro
might gain on the back of reports that the production is expected to
start as planned in September.Media sector might be a dark horse in
the coming days and stocks like Bag Films, TV Today, DISH TV and
Balaji Tele might see some positive moves as the euphoria from ADAG's
entry in to the media sector might rub off on these stocks.
Most of the activity in the market should be limited to speculative
midcaps, as we have seen some strong moves yesterday. Thomas Cook,
Atlanta Ltd, HOCL and BIL Power look technically poised to extend
their gains for another day. Expect a decent day of trading as bears
take a breather and bulls look to consolidate on the gains from
Wednesday.
Suitable stocks for 'Intraday' today
<RELCAPITAL,ICICIBANK,BHARTIARTL,BHEL,ONGC,HDFCBANK,RANBAXY,DLF,PUNJLLOYD,
ADLABSFILM>
Market Close Box
BSE Sensex 14678.23 134.50
NSE Nifty 4415.75 47.50
USD Rs.43.72
Oil Nymex $114.9
N.Sukumar
Research Analyst
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