ShareKhan Newsletter Blog

Thursday, October 15, 2009

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Sensex may remain volatile

Sensex may remain volatile

On the back of the week global cues, Sensex may open lower and remain range bound in todays trade.

On Thursday, major US indices closed in green with marginally overnight gains, However the European markets (FTSE 100) closed lower, losing 33 point to close at 5223. While the Asian indices were range bound and were giving a mixed bag performance in todays trade wherein indices like Shanghai Composite and Strait Times was trading marginally lower by 0.18% and 0.12% respectively, while Hang Seng, Nikkei 225 and Taiwan Weighted traded higher with marginal gains in the range of 0.19%-0.34%. Even the Singapore Nifty was trading 2 points below its previous days settlement price. Such performance by the global indices may result in Sensex opening lower to its previous close and trade in a range bound territory through the day. However, with the Cement major - Ultratech cement and IT major - TCS announcing its Q2 results today, the Sensex may get take a cue from it and perform accordingly.

The Dow managed to sustain its 10000 level for the second consecutive trading sessions on the back of rising oil price that helped to surge the energy stocks. On Thursday US indices closed with marginal gains, Dow closed 47 points higher at 10063, while S&P 500 and Nasdaq closed 0.42& and 0.05% over its previous close.

Among the Indian ADRs trading on the US bourses, it was only HDFC Bank, Wipro, and Satyam that closed in positive zone with the gains in the range of 0.11%-3.45%. While the ADR of companies like Infosys, Tata Motors, Rediff, VSNL, ICICI Bank and MTNL lost over 0.02-3.95% each.

In the commodity space, Crude oil prices advanced sharply, with the Nymex light crude oil for November series rising by $2.40 to close at $77.58 a barrel. While in the metals space, the Comex Gold for December series declined sharply by $14.10 to settle at $1050.60 a troy ounce and Comex Silver for December series fell by $0.49 to settle at $17.42 a troy ounce.

Daily trend of FII/MF investment in equities

On October 15, 2009, FIIs were the net buyers of the Indian Stocks in the tune of Rs 1582.50 crore (with the gross purchase of Rs4268.40crore and gross sales of Rs2685.90 crore). While the Domestic mutual funds mutual funds, on October 14, 2009, were the net seller of the stocks in the tune of Rs 14 crore (with gross purchase of Rs 968.40 crore and gross sales of Rs982.40 crore).

Headlines for the day

Government for listing more PSEs: Prime Minister

Bajaj posts highest-ever quarterly profit

Petronas ups stake in Cairn India

USL raises Rs 1,600 cr in QIP

Surya Roshini to set up Rs 100-cr plant in MP

Polaris Pockets Laser Soft

INDICES SNAPSHOT

ASIAN INDICES at 09:20 IST on 16/10/2009

Index Level Change(pts) Change(%)
Nikkei 10257.62 18.97 0.19
Hang Seng 21949.32 -49.76 -0.23
Kospi Index 1653.22 -5.77 -0.35
Straits Times 2704.77 -7.38 -0.27
Jakarta Composite 2508.19 -7.24 -0.29

EUROPEAN INDICES at close on 15/10/2009

FTSE 100 5222.95 -33.15 -0.63
CAC 40 Index 3883.83 0 0
Dax Index 5830.77 -23.37 -0.40

US INDICES at close on 15/10/2009

Dow Jones 10062.94 47.08 0.47
Nasdaq 2173.29 1.06 0.05

PRE-MARKET COMMENTARY

16/10/2009| Market round-up, 9:45 IST

STOCK TO WATCH TODAY
RELICOMM
CAIRN
UNITEDSPIR
POLARIS
BAJAJAUTO

INDIAN ADRs

Company Last Close %Change
Infosys 48.49 -0.90
Satyam 6.60 3.45
Wipro 18.82 0.11
Dr.Reddy's 20.83 -2.94
Tata Motors 12.60 -1.41
ICICI Bank 40.67 -0.02
HDFC Bank 126.79 2.86
MTNL 3.51 -3.04
VSNL (TCL)* 20.87 -1.00
Rediff 3.65 -3.95
Patni Comp 18.94 1.34

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posted by Anonymous @ 10:59 PM

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