Pre-Market Report - 06.06.2008
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K.Karthik Raja
Jun 6, 2008, 12:15:47 AM6/6/08
to Kences1
Bulls getting ready for a "Friday Feast"
Jun 06, 2008
Bulls will be getting ready for a Friday feast in the early morning
trade as
stocks are expected to open higher in to day's trade. It looks as if
the
Sensex will break the 16,000 levels comfortably today to end the week
on a
positive note.
Stocks in Wall Street rallied on Thursday with the Dow and NASDAQ
rallying
to close at the highs of the day. Investors inclined towards equities
as the
news on Jobless claims data and better retail sales data blew away
the
credit concerns. Meanwhile Crude bounced back convincingly with a $5
gain
and ended the day at $ 128 on NYMEX. Stocks in the Asian markets are
expected to rise on the back of improving global sentiment.
We expect some recovery in the stocks that have been beaten down in
the
past 2 weeks. Index Stocks like Gujarat Ambuja Cements, DLF, Reliance
and JP
Associates might recover from the losses experienced earlier this
week. We
like Cement as a sector for long term investors as the stocks are
trading at
an attractive multiple and our picks among the large caps are Guj
Ambuja and
ACC . Nalco made an impressive move on the news of expansion plans and
is
technically looking good. The start of yesterday was GAIL as the stock
moved
up nearly 7 percent. The company (GAIL) is making foray into Solar,
Wind
energy and other renewable energy sources and this might be a big
boost for
the stock in the medium term.
It is too early to say that the worst is over and the stocks are going
to
rally for here on. Look out for midcaps in to days trade as they have
not
participated in the pull back yesterday. As we have mentioned in
yesterday's
market review an up move and close above 16,100 for the Sensex might
restore
some confidence and might bring back some investors who do not want to
miss
out the rally. Some midcaps that have seen some actions yesterday and
look
good for today's trade are Mercator Lines, NIIT and Gokul Refoils.
Market Close Box:
BSE Sensex 15769.72 254.93
NSE Nifty 4676.95 91.35
USD Rs.42.86
Oil Nymex $127.7
K.Karthik Raja,
www.kences1.blogspot.com
Jun 06, 2008
Bulls will be getting ready for a Friday feast in the early morning
trade as
stocks are expected to open higher in to day's trade. It looks as if
the
Sensex will break the 16,000 levels comfortably today to end the week
on a
positive note.
Stocks in Wall Street rallied on Thursday with the Dow and NASDAQ
rallying
to close at the highs of the day. Investors inclined towards equities
as the
news on Jobless claims data and better retail sales data blew away
the
credit concerns. Meanwhile Crude bounced back convincingly with a $5
gain
and ended the day at $ 128 on NYMEX. Stocks in the Asian markets are
expected to rise on the back of improving global sentiment.
We expect some recovery in the stocks that have been beaten down in
the
past 2 weeks. Index Stocks like Gujarat Ambuja Cements, DLF, Reliance
and JP
Associates might recover from the losses experienced earlier this
week. We
like Cement as a sector for long term investors as the stocks are
trading at
an attractive multiple and our picks among the large caps are Guj
Ambuja and
ACC . Nalco made an impressive move on the news of expansion plans and
is
technically looking good. The start of yesterday was GAIL as the stock
moved
up nearly 7 percent. The company (GAIL) is making foray into Solar,
Wind
energy and other renewable energy sources and this might be a big
boost for
the stock in the medium term.
It is too early to say that the worst is over and the stocks are going
to
rally for here on. Look out for midcaps in to days trade as they have
not
participated in the pull back yesterday. As we have mentioned in
yesterday's
market review an up move and close above 16,100 for the Sensex might
restore
some confidence and might bring back some investors who do not want to
miss
out the rally. Some midcaps that have seen some actions yesterday and
look
good for today's trade are Mercator Lines, NIIT and Gokul Refoils.
Market Close Box:
BSE Sensex 15769.72 254.93
NSE Nifty 4676.95 91.35
USD Rs.42.86
Oil Nymex $127.7
K.Karthik Raja,
www.kences1.blogspot.com
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