Pre-Market report on 31.03.2008
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Sukumar
Mar 30, 2008, 11:42:07 PM3/30/08
to Kences1
Buying frenzy to continue
====================================================
Global cues are weak with the US markets struggling with weak data
though major losses are not seen on both the indices. Lehman Brothers,
the U.S. investment bank, was defrauded of more than $355 million in
transactions that it suspects were carried out by two employees at the
Japanese trading house Marubeni, and will sue to recoup the money,
Lehman officials said Sunday.
Japanese markets opened down after Japan's manufacturers cut
production in February for a second month. Japanese Yen is trading
down at 99.58 a US Dollar.
Inflation threatens
Indian Inflation touched a 15-month high of 6.68% in the week ended
March 15. This is in sharp contrast compared to 4.35% in the week
ended Feb.9. Govt is likely to move quickly to contain the prices.
Expectations of interest rate cut are threatened by sharp increase in
inflation. The negative aspect for investors here is the government is
ready to sacrifice some of the country's economic growth in the
context of controlling inflation
Stocks in news
DLF Assets Ltd plans to raise more than USD 2 billion in a private
placement.Tata Power Ltd is on a major expansion plan and is likely to
go for a stake sale soon.
Midcaps on a roll. Rightly so
Midcap stocks are on a roll in the last two days and the market is
expected entertain the upmoves today too. Many of the stocks have
taken a beating of 40-60 percent and a technical rally is on cards
from quite some time. The start of the fresh F&O series triggered a
decent upmove in the second rung stocks, that bore the brunt of FII
selling and bear manipulation in the last series. Among the large caps
MTNL and ITC are likely to witness good action.
Realty stocks are expected to rally on the reports that real estate
MFs and other MFs that invest in shares of realty companies will be
spared of paying tax on all income.
While the market upsides are capped by domestic issues like sluggish
growth, downsides are capped by attractive valutions. Ride the bull
tide for the time being as global factors are likely weigh on the
markets in the coming days.
Market Close Box
BSE Sensex 16371.29 355.73
NSE Nifty 4942.00 111.75
USD Rs.40.10
Oil Nymex $105.6
N.Sukumar
Research Analyst
www.kences1.blogspot.com
====================================================
Global cues are weak with the US markets struggling with weak data
though major losses are not seen on both the indices. Lehman Brothers,
the U.S. investment bank, was defrauded of more than $355 million in
transactions that it suspects were carried out by two employees at the
Japanese trading house Marubeni, and will sue to recoup the money,
Lehman officials said Sunday.
Japanese markets opened down after Japan's manufacturers cut
production in February for a second month. Japanese Yen is trading
down at 99.58 a US Dollar.
Inflation threatens
Indian Inflation touched a 15-month high of 6.68% in the week ended
March 15. This is in sharp contrast compared to 4.35% in the week
ended Feb.9. Govt is likely to move quickly to contain the prices.
Expectations of interest rate cut are threatened by sharp increase in
inflation. The negative aspect for investors here is the government is
ready to sacrifice some of the country's economic growth in the
context of controlling inflation
Stocks in news
DLF Assets Ltd plans to raise more than USD 2 billion in a private
placement.Tata Power Ltd is on a major expansion plan and is likely to
go for a stake sale soon.
Midcaps on a roll. Rightly so
Midcap stocks are on a roll in the last two days and the market is
expected entertain the upmoves today too. Many of the stocks have
taken a beating of 40-60 percent and a technical rally is on cards
from quite some time. The start of the fresh F&O series triggered a
decent upmove in the second rung stocks, that bore the brunt of FII
selling and bear manipulation in the last series. Among the large caps
MTNL and ITC are likely to witness good action.
Realty stocks are expected to rally on the reports that real estate
MFs and other MFs that invest in shares of realty companies will be
spared of paying tax on all income.
While the market upsides are capped by domestic issues like sluggish
growth, downsides are capped by attractive valutions. Ride the bull
tide for the time being as global factors are likely weigh on the
markets in the coming days.
Market Close Box
BSE Sensex 16371.29 355.73
NSE Nifty 4942.00 111.75
USD Rs.40.10
Oil Nymex $105.6
N.Sukumar
Research Analyst
www.kences1.blogspot.com
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