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Sharekhan Pre-Market Report dated March 05, 2009

Wednesday, March 4, 2009

 
.
Market may start buoyant

Firm international markets may trigger buoyancy in early trades.

The benchmark indices, Sensex and Nifty, are expected to commence on a firm note and witness significant rally during intra-day trades, as international markets backed by firm US and Asian indices may help the sentiment remain buoyant. On the technical front, the Nifty could test in the 2700-2750 range on the upside and has supports in the 2600 - 2550 range, while the Sensex has a likely support at 8295 and may face resistance at 8600.

US indices posted gains on Wednesday on a report that China's economy may be improving and as government officials unveiled details of the $75 billion foreclosure fix. while the Nasdaq added 33 points to close at 1354 and Dowjones gained 150 points at 6876.

All of the Indian ADRs except satyam traded firm on the US bourses. Tata Motors led the pack with gains of 9.88% while Wipro, Rediff, Patni Computers, Infosys, VSNL, MTNL, HDFC Bank and Dr Reddy gained around 2-7% each. 

Crude oil prices in the US market surged, with the Nymex light crude oil for April delivery raising by $3.72 to close at $45.38 per barrel . In the commodity segment, the Comex gold for April series lost $6.90 to settle at $906.70 a troy ounce.

Daily trend of FII/MF investment in equities
On March 03 2009, FIIs were net sellers of stocks to the tune of Rs646 crore (purchases worth Rs651 crore and sales of Rs1297 crore) while domestic mutual funds were net sellers of stocks to the tune of Rs104 crore (purchases worth Rs196 crore and sales of Rs300 crore).

Stocks with +ve bias: Infosys (SL 1180), Sesa goa, & Jindal Steel & Power

Stocks for Short term Delivery: Mphasis BFL

Stocks for Investments: Bharti Airtel, BEL, Bhel, ITC and Lupin
 INDICES SNAPSHOT
ASIAN INDICES at 09:20 IST on MARCH 05, 2009
Index Level Change(pts) Change(%)
Nikkei 7487.86 196.90 2.70
Hang Seng 12370.01 38.86 0.32
Kospi Index 1061.42 2.16 0.20
Straits Times 1539.00 -5.34 -0.35
Jakarta Composite 1296.82 7.44 0.58
EUROPEAN INDICES at close on MARCH 04, 2009
FTSE 100 3645.87 133.78 3.81
CAC 40 Index 2675.67 - -
Dax Index 3890.94 200.22 5.42
US INDICES at close on MARCH 04, 2009
Dow Jones 6875.84 149.82 2.23
Nasdaq 1353.74 32.73 2.48
PRE-MARKET COMMENTARY
MARCH 05, 2009| Market round-up, 9:45 IST
STOCK TO WATCH TODAY
INFOSYS
ICICIBANK
HDFCBANK
SBI
BHEL
 

INDIAN ADRs

Company Last Close %Change
Infosys 24.08 4.33
Satyam 1.31 -1.50
Wipro 5.74 7.09
Dr.Reddy's 7.91 2.86
Tata Motors 3.57 9.85
ICICI Bank 11.58 4.04
HDFC Bank 50.61 3.86
MTNL 2.53 4.12
VSNL (TCL)* 15.65 3.85
Rediff 1.50 6.38
Patni Comp 4.55 5.57

 

 

 


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