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Gains may continue

Monday, May 18, 2009

 
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Gains may continue

New Page 1

Strong buying interest for heavyweight and other sectoral stocks coupled with firm global indices could see the market extend its winning streak. 

The overnight gains in international markets and positive opening in most of the Asian indices in ongoing trades may help the local market advance further. Among the key indices, the Nifty can see an up- move till 4410 levels and has a key support at 4250 levels in the near-term. The Sensex has a likely support at 14100 and may face resistance at 14450.

Major US indices finished positive on monday, after positive news about the U.S. housing market, including an upbeat profit forecast from Lowes, as well as an upgrade of Bank of America, encouraged investors to step back into the market after last week's selloff. While the Dow Jones gained by 235 points at 8504, the Nasdaq moved up by 52 points to close at 1732.

All the Indian ADRs posted sharp gains on the US bourses. Rediff led the pack with the gains of 36.55%, while Satyam, HDFC Bank, Tata Motors, ICICI Bank, MTNL and VSNL gained around 18-25% each. However, Infosys, Wipro and Patni Computers gains around 7-9% each.

Crude oil prices moved down marginally, with the Nymex light crude oil for June delivery lost 4 cents to close at $58.99 a barrel. In the commodity space, the Comex gold for June delivery lost $9.60 to settle at $921.70 an ounce.

Daily trend of FII/MF investment in equities
On May 15 2009, FIIs were net buyers of stocks to the tune of Rs1000 crore (purchases worth Rs2673 crore and sales of Rs1673 crore) while domestic mutual funds were net buyers of stocks to the tune of Rs393 crore (purchases worth Rs1134 crore and sales of Rs741 crore)

 INDICES SNAPSHOT
ASIAN INDICES at 09:20 IST on MAY 19, 2009
Index Level Change(pts)Change(%)
Nikkei9293.09254.402.81
Hang Seng17431.15408.242.40
Kospi Index1420.1333.452.41
Straits Times2250.4673.483.38
Jakarta Composite1861.3557.783.20
EUROPEAN INDICES at close on MAY 18, 2009
FTSE 1004446.4598.342.26
CAC 40 Index3245.3976.342.41
Dax Index4851.96114.462.42
US INDICES at close on MAY 18, 2009
Dow Jones8504.08235.442.85
Nasdaq1732.3652.223.11
PRE-MARKET COMMENTARY
MAY 19, 2009| Market round-up, 9:45 IST
STOCK TO WATCH TODAY
ICICIBANK
AXISBANK
L&T
BHEL
SBI
 

INDIAN ADRs

CompanyLast Close %Change
Infosys34.908.99
Satyam2.1418.23
Wipro11.497.48
Dr.Reddy's12.7910.54
Tata Motors9.0719.34
ICICI Bank29.2925.22
HDFC Bank95.7021.29
MTNL3.6325.17
VSNL (TCL)*26.7127.62
Rediff3.4036.55
Patni Comp9.689.26

 

 

 


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posted by Anonymous @ 11:42 PM  

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