Pre-Market Report: 02.07.2009
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B. Karthick
Jul 2, 2009, 12:26:35 AM7/2/09
to Kences1
Positive momentum to continue on positive global cues
Stocks on Dalal Street are likely to maintain their bullish momentum
after a decent run up towards the second half of the day on Wednesday.
Positive global cues and decent valuations might prompt investors to
buy some blue chips and select midcaps today. Expect the benchmark
index or the Sensex to gain nearly 100 points for the day.
Investors kicked off the stock market's third quarter with a moderate
gain after getting some reassuring data on manufacturing and
housing.The Dow rose 57.06, or 0.7 percent, to 8,504.06. It climbed as
high as 8,580.47 in earlier trading, but then pared its gains as the
day went on.The Standard & Poor's 500 index rose 4.01, or 0.4 percent,
to 923.33. The Nasdaq composite index rose 10.68, or 0.6 percent, to
1,845.72.
Realty was a bright spot in yesterday's trade as the sectoral index
gained more than 4 percent for the day.There was some buying in the
infra related stocks on hopes of a big stimulus on the Infrastructure
front. DLF might come under pressure on the news that US-based private
equity investor D E Shaw is looking to sell only 60% of its
investments in DLF Assets, after gaining as much as 5 percent for the
day reaching Rs 326.
Stay away from the stock of Hindalco Ind. The scrip of Hindalco might
be under pressure for the second day in a row as the company
fundamentally looks weak and has a long way to go before it settles
down. One could look to accumulate the stock at Rs 60 to Rs 65
levels.RNRL might active and might face some selling on the reports
of Reliance Industries Ltd is taking the Bombay High Court order of
June 15 on gas supply to Anil Ambani’s Reliance Natural Resources Ltd
(RNRL) to the Supreme Court.
Zee Entertainment Rs 177 is likely to be active this morning after the
channel has regained the top slot that it relinquished almost a
decade. Overall a good day for the markets, do not expect huge gains,
as the action is likely to be stock specific.Emco Ltd, Surana Ind,
Geojit secturities and Moser Baer are some of the stocks to watch in
today's trade.
B.Karthick
Research Analyst
Stocks on Dalal Street are likely to maintain their bullish momentum
after a decent run up towards the second half of the day on Wednesday.
Positive global cues and decent valuations might prompt investors to
buy some blue chips and select midcaps today. Expect the benchmark
index or the Sensex to gain nearly 100 points for the day.
Investors kicked off the stock market's third quarter with a moderate
gain after getting some reassuring data on manufacturing and
housing.The Dow rose 57.06, or 0.7 percent, to 8,504.06. It climbed as
high as 8,580.47 in earlier trading, but then pared its gains as the
day went on.The Standard & Poor's 500 index rose 4.01, or 0.4 percent,
to 923.33. The Nasdaq composite index rose 10.68, or 0.6 percent, to
1,845.72.
Realty was a bright spot in yesterday's trade as the sectoral index
gained more than 4 percent for the day.There was some buying in the
infra related stocks on hopes of a big stimulus on the Infrastructure
front. DLF might come under pressure on the news that US-based private
equity investor D E Shaw is looking to sell only 60% of its
investments in DLF Assets, after gaining as much as 5 percent for the
day reaching Rs 326.
Stay away from the stock of Hindalco Ind. The scrip of Hindalco might
be under pressure for the second day in a row as the company
fundamentally looks weak and has a long way to go before it settles
down. One could look to accumulate the stock at Rs 60 to Rs 65
levels.RNRL might active and might face some selling on the reports
of Reliance Industries Ltd is taking the Bombay High Court order of
June 15 on gas supply to Anil Ambani’s Reliance Natural Resources Ltd
(RNRL) to the Supreme Court.
Zee Entertainment Rs 177 is likely to be active this morning after the
channel has regained the top slot that it relinquished almost a
decade. Overall a good day for the markets, do not expect huge gains,
as the action is likely to be stock specific.Emco Ltd, Surana Ind,
Geojit secturities and Moser Baer are some of the stocks to watch in
today's trade.
B.Karthick
Research Analyst
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