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Pre-market: Market may open flat

Monday, June 22, 2009

 
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Market may open flat

New Page 1

Volatility to continue as we look at expiry and budget

The market sentiment is likely to remain bullish following firm Asian markets in current trades and mix trend in US markets. The renewed buying interest in heavyweights and banking stocks may keep the bias positive for the day. Among the negative factors FIIs remained the net sellers in equities is likely to exert pressure on the investor sentiment. Among the key domestic indices, the Nifty could test higher levels in the 4360-4400 range and has a support at 4260. The Sensex has a likely support at 14350 and may face resistance at 14650.

US indices finished flat on Friday, the Dow Jones declined by 16 points at 8539.73, the Nasdaq moved up by 20 points to close at 1827.

The upsurge in both the domestic and US markets spurred the Indian ADRs trading on the US bourses. ICICI Bank led the pack with gains of 3.15% followed by Patni Computers gaining 2.86% while Infosys, Satyam, Tata Motors, HDFC Bank, VSNL, Rediff and Dr Reddy surged over 1-2% each. However, MTNL and Wipro slipped and closed in negative territory.

Crude oil prices in the international market moved down, with the Nymex light crude oil for July delivery declining by a $1.82 to close at $69.55 per barrel. In the commodity space, the Comex gold for August series surged by $1.60 to settle at $936.20 a troy ounce.

Daily trend of FII/MF investment in equities
On June 18 2009, FIIs were net sellers of stocks to the tune of Rs516 crore (purchases worth Rs2138 crore and sales of Rs2654 crore) while domestic mutual funds were net buyers of stocks to the tune of Rs129 crore (purchases worth Rs862 crore and sales of Rs733 crore).

 INDICES SNAPSHOT
ASIAN INDICES at 09:20 IST on JUNE 22, 2009
Index Level Change(pts)Change(%)
Nikkei9796.029.760.10
Hang Seng18230.05309.121.72
Kospi Index1385.452.110.15
Straits Times2283.8710.690.47
Jakarta Composite1997.206.730.34
EUROPEAN INDICES at close on JUNE 19, 2009
FTSE 1004345.9365.071.52
CAC 40 Index3221.2727.210.85
Dax Index4839.461.980.04
US INDICES at close on JUNE 19, 2009
Dow Jones8539.73-15.87-0.19
Nasdaq1827.4719.751.09
PRE-MARKET COMMENTARY
JUNE 22, 2009| Market round-up, 9:45 IST
STOCK TO WATCH TODAY
ICICIBANK
BHEL
SBI
RIL
L&T
 

INDIAN ADRs

CompanyLast Close %Change
Infosys36.152.52
Satyam3.651.39
Wipro11.35-1.05
Dr.Reddy's15.300.59
Tata Motors9.71.68
ICICI Bank29.833.15
HDFC Bank104.411.67
MTNL3.60-13.67
VSNL (TCL)*19.221.21
Rediff2.611.95
Patni Comp10.422.86

 

 

 


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