Pre-Market report on 05.08.2008

[SUKUHOPES]

Sensex to be subdued, Midcaps to dominate
===================================================
Equities might come under some pressure today on the concerns that the
global economy might show a slow down impacting the local economy.
Today's trading pattern might mimic yesterday's activity. Expect some
more selling in index stocks and sparks from the mid and small caps.

Wall Street witnessed a sell off initially after the Commerce
Department said an inflation gauge tied to consumer spending had
surged 0.8 percent in June, reflecting higher gasoline prices. However
stocks recovered a bit in the second half of the session as Light,
sweet crude closed down $3.69, or 2.9 percent, to settle at $121.41 a
barrel on the New York Mercantile Exchange. The Dow lost 0.37 percent
and the Nasdaq ended down 1.10 percent. Nikkei managed to trade above
the dotted line in Japan inspite of disappointing economic data.

The bid news for today is the news in pink papers that Global media
baron Rupert Murdoch plans to buy 20 to 26 per cent in the Sakaal
Group’s upcoming Marathi news channel Saam TV. This is a part of the
groups proposal to invest around $100 million in six regional channels
in India within a year. watch out for media stocks like Sun TV, TV
Today Network and Raj TV. In a separate development Anil Ambani, plans
to raise $1 billion overseas for a private equity fund in India,
taking advantage of the slump in the Indian stock market.It is worth
noting that Citigroup Inc., Warburg Pincus LLC and 3i Group Plc have
already launched funds seeking investment opportunities in India.

Midcap space, the happening segment this week is worth looking at for
some good trading opportunities. Keep an eye for Wire&Wireless, Dish
TV, Onmobile, Dhanus Technologies and Deccan chronicle are worth
watching.So ignore the Sensex/ Nifty and concentrate on the midcap
stocks for some quick profits.

Suitable stocks for "Intraday" today
<RELIANCE,RANBAXY,BHEL,TATASTEEL,JPASSOCIAT,KOTAKBANK,ABAN,GLENMARK,BPCL,
MARUTI>

Market Close Box
BSE Sensex 14577.87 -78.82
NSE Nifty 4395.35 -18.20
USD Rs.42.40
Oil Nymex $121.4


N.Sukumar
Research Analyst