Pre-Market report on 16.06.2008
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N.Sukumar
Jun 16, 2008, 12:04:15 AM6/16/08
to Kences1
Bulls ready to pounce, markets ready to bounce
===================================================Markets after
experiencing pain for the past one month look forward for some gains
in Monday's trade. The sensex is expected to test the 15,500 levels in
the morning session capitalizing on bullish sentiment in the global
markets.
The Asian markets opened on a bullish note today reflecting the gains
in Wall Street on Friday. The retreat of Crude prices and improving
valuations attracted buying in equities. The issue of rising inflation
still remains a big concern for the Indian markets. The government on
Friday increased the levy on iron ore and Steel rods by nearly 50
percent. The taxes on large cars has been increased as measure to
reduce the demand for gasoline and contain gas prices. This might
effect the stocks in Steel and Auto sector.
Tata Power and Sterlite Industries might see some action as these
stocks will be added to the BSE Index starting July 28th this year.
These two scrips are expected to replace Ambuja Cements and Cipla Ltd.
Telecom sector seems to be the most happening sector in the current
market as Ambani brothers Feud took new turn with RIL objecting to the
talks of Reliance communications with African telecom major MTN,
saying it is entitled to the right of first refusal on purchasing a
controlling stake in the phone company. In another development there
are rumors that there might be a three way deal between Idea Cellular,
Spice Communications and Telekom Malaysia in which the later might
hike stake in Idea at nearly a 30 percent premium from the CMP of Rs
108.
Midcaps showed some strength on Friday and are expected to shine again
today. KPIT Cummins, GHCL and Asian Electronics, Chambal Fertilizers
and Rajesh Exports moved up on huge volumes and technically look solid
to make another move.There is news floating in the market Hindalco
might announce a rights or bonus issue soon to meet its funding
requirement to complete the acquisition of the aluminium major
Novelis. Some other stocks to watch out today are Sical Logistics,
Wire & Wireless and Indraprastha Gas Ltd. We expect the benchmark to
gain nearly 250- 300 points for the day.
Suitable stocks for "Intraday"
<ICICIBANK,TATASTEEL,HDFC,TCS,RELINFRA,LITL,SESAGOA,ABAN,BOMBDYEING,PNB>
Market Close Box
BSE Sensex 15189.62 0.00
NSE Nifty 4517.10 -22.25
USD Rs.42.87
Oil Nymex $134.8
N.Sukumar
Research Analyst
===================================================Markets after
experiencing pain for the past one month look forward for some gains
in Monday's trade. The sensex is expected to test the 15,500 levels in
the morning session capitalizing on bullish sentiment in the global
markets.
The Asian markets opened on a bullish note today reflecting the gains
in Wall Street on Friday. The retreat of Crude prices and improving
valuations attracted buying in equities. The issue of rising inflation
still remains a big concern for the Indian markets. The government on
Friday increased the levy on iron ore and Steel rods by nearly 50
percent. The taxes on large cars has been increased as measure to
reduce the demand for gasoline and contain gas prices. This might
effect the stocks in Steel and Auto sector.
Tata Power and Sterlite Industries might see some action as these
stocks will be added to the BSE Index starting July 28th this year.
These two scrips are expected to replace Ambuja Cements and Cipla Ltd.
Telecom sector seems to be the most happening sector in the current
market as Ambani brothers Feud took new turn with RIL objecting to the
talks of Reliance communications with African telecom major MTN,
saying it is entitled to the right of first refusal on purchasing a
controlling stake in the phone company. In another development there
are rumors that there might be a three way deal between Idea Cellular,
Spice Communications and Telekom Malaysia in which the later might
hike stake in Idea at nearly a 30 percent premium from the CMP of Rs
108.
Midcaps showed some strength on Friday and are expected to shine again
today. KPIT Cummins, GHCL and Asian Electronics, Chambal Fertilizers
and Rajesh Exports moved up on huge volumes and technically look solid
to make another move.There is news floating in the market Hindalco
might announce a rights or bonus issue soon to meet its funding
requirement to complete the acquisition of the aluminium major
Novelis. Some other stocks to watch out today are Sical Logistics,
Wire & Wireless and Indraprastha Gas Ltd. We expect the benchmark to
gain nearly 250- 300 points for the day.
Suitable stocks for "Intraday"
<ICICIBANK,TATASTEEL,HDFC,TCS,RELINFRA,LITL,SESAGOA,ABAN,BOMBDYEING,PNB>
Market Close Box
BSE Sensex 15189.62 0.00
NSE Nifty 4517.10 -22.25
USD Rs.42.87
Oil Nymex $134.8
N.Sukumar
Research Analyst
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