Pre-Market report on 25.04.2008
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N.Sukumar
Apr 25, 2008, 12:03:44 AM4/25/08
to Kences1
Time to move up
===================================================
US markets ended the day with good gains, though siginificantly off
from the highs of the day. Dow Jones Industrial index gained 85 points
higher to close at 12,848.95, while Nasdaq gained 23.7 points to end
at 2,428. After hours Microsoft disappointed the street with a
guidance miss resulting in a 5 percent dip in the stock price. We do
not expect any significant decline in the US markets. The strength
displayed by the wall street and the US Dollar despite of negative
jobless claims data signifies that bottom has already been formed.
Japanese markets jumped on weaker yen and Nikkei is currently trading
at 13771, up 230 points from previous close.
Hero Honda declared good numbers while Maruti Suzuki net profit fell
34 percent courtesy forex losses. The next major to the markets is the
RBI meet on 29th April. We expect the RBI to maintain the staus quo,
given the dip in inflation in the last two weeks and expect the
decline to continue tomorrow too. Data suggested FIIs are net buyers
on the bourses in the last 6 sessions except on wednesday. Though many
analysts are negative on the markets we see this as a very good
oppurtunity to get into many wealth creators.
Many stocks have recovered significantly from their lows. There will
be a consolidation period where stock prices adjust to the current
economic scenario and we are in the same phase currently. Indian
markets are likely to be driven by overseas cues in the next couple of
months and this time it is tough to de-couple.
Infosys continued to shine on the bourses on better than expected
guidance. We clearly mentioned during the result session that the
stock will outperform BSE Sensex this year. Media stocks and some of
the offbeat stocks gained ground yesterday. Realty space might witness
bargain hunting soon.
We expect the market to gain good ground today.
Market Close Box
BSE Sensex 16721.08 23.04
NSE Nifty 4999.85 -22.95
USD Rs.40.05
Oil Nymex $116.0
N.Sukumar
Research Analyst.
===================================================
US markets ended the day with good gains, though siginificantly off
from the highs of the day. Dow Jones Industrial index gained 85 points
higher to close at 12,848.95, while Nasdaq gained 23.7 points to end
at 2,428. After hours Microsoft disappointed the street with a
guidance miss resulting in a 5 percent dip in the stock price. We do
not expect any significant decline in the US markets. The strength
displayed by the wall street and the US Dollar despite of negative
jobless claims data signifies that bottom has already been formed.
Japanese markets jumped on weaker yen and Nikkei is currently trading
at 13771, up 230 points from previous close.
Hero Honda declared good numbers while Maruti Suzuki net profit fell
34 percent courtesy forex losses. The next major to the markets is the
RBI meet on 29th April. We expect the RBI to maintain the staus quo,
given the dip in inflation in the last two weeks and expect the
decline to continue tomorrow too. Data suggested FIIs are net buyers
on the bourses in the last 6 sessions except on wednesday. Though many
analysts are negative on the markets we see this as a very good
oppurtunity to get into many wealth creators.
Many stocks have recovered significantly from their lows. There will
be a consolidation period where stock prices adjust to the current
economic scenario and we are in the same phase currently. Indian
markets are likely to be driven by overseas cues in the next couple of
months and this time it is tough to de-couple.
Infosys continued to shine on the bourses on better than expected
guidance. We clearly mentioned during the result session that the
stock will outperform BSE Sensex this year. Media stocks and some of
the offbeat stocks gained ground yesterday. Realty space might witness
bargain hunting soon.
We expect the market to gain good ground today.
Market Close Box
BSE Sensex 16721.08 23.04
NSE Nifty 4999.85 -22.95
USD Rs.40.05
Oil Nymex $116.0
N.Sukumar
Research Analyst.
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