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Markets to follow global cues

Wednesday, May 20, 2009

 
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Markets to follow global cues

New Page 1

Index may open down marginally and is expected to be very volatile during the day.

The south-bound trend in the market is likely to continue on the back of a weak global indices. However raise in FIIs may help the market sentiment. Among the key domestic indices, the Nifty may test 4240 on the downside while on the upside the index could test higher levels of 4310, while the Sensex could test higher levels of 14200 and has a likely support at 13900.

US indices faltered erasing earlier gains, as the Federal Reserve's dour economic outlook curbed optimism about the health of U.S. banks. While the Dow Jones dropped 53 points to close at 8422, the Nasdaq ended 7 points lower at 1728.

Barring few select floats, most of the Indian ADRs posted loss on the US bourses. Infosys, Satyam, Wipro, Tata Motors, ICICI Bank, HDFC Bank and VSNL lost nearly 0.57-3% each, Among the select gainers Rediff gained the most and moved up over 9% while MTNL and Patni Computers ended with decent gains.

Crude oil prices inched lower, with the Nymex light crude oil for July delivery moved up by $1.94 at $62.04 a barrel and in the commodity segment, the Comex gold for June 09 series gained $10.70 to settle at $937.40 an ounce.

Daily trend of FII/MF investment in equities
On May 19 2009, FIIs were net buyers of stocks to the tune of Rs5045 crore (purchases worth Rs12579 crore and sales of Rs7534 crore) while domestic mutual funds were net sellers of stocks to the tune of Rs619 crore (purchases worth Rs7975 crore and sales of Rs8594 crore).

SGX Nifty @ 9.15: -ve 42 points

Stock with +ve bias: Chambal Fertilizers
Stocks with Ve bias : J p Associates
Stocks For Short Term Delivery: IRB Infra

Stocks for investment: Godrej Consumer, L&T, and HDFC ltd.

 INDICES SNAPSHOT
ASIAN INDICES at 09:20 IST on MAY 21, 2009
Index Level Change(pts)Change(%)
Nikkei9235.15-109.49-1.17
Hang Seng17247.86-227.98-1.30
Kospi Index1418.20-17.50-1.22
Straits Times2249.08-20.16-0.89
Jakarta Composite1885.72-0.29-0.02
EUROPEAN INDICES at close on MAY 20, 2009
FTSE 1004468.41-13.84-0.31
CAC 40 Index3303.3728.410.87
Dax Index5038.9479.321.60
US INDICES at close on MAY 20, 2009
Dow Jones8422.04-52.81-0.62
Nasdaq1727.84-6.70-0.39
PRE-MARKET COMMENTARY
MAY 21, 2009| Market round-up, 9:45 IST
STOCK TO WATCH TODAY
JPASSO
L&T
HDFC
BHEL
RIL
 

INDIAN ADRs

CompanyLast Close %Change
Infosys32.21-2.45
Satyam1.95-0.44
Wipro11.08-0.72
Dr.Reddy's12.893.95
Tata Motors8.91-1.0
ICICI Bank28.38-2.77
HDFC Bank90.27-1.63
MTNL3.553.20
VSNL (TCL)*25.97-0.57
Rediff3.539.29
Patni Comp9.012.27

 

 

 


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posted by Anonymous @ 11:15 PM  

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