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Pre-market: Euro zone woes linger; Markets may fall again

Wednesday, November 16, 2011

November 17, 2011 | 8.30 AM

Euro zone woes linger; Markets may fall again
Again a weak opening is expected on the back of European woes. Caution may prevail reacting to the euro zone headlines.
Headlines for the day
  • JSW undecided on Mozambique block
  • Titan to buy Swiss watch brand Favre Leuba  
  • Ashok Leyland to consolidate all group companies
  • Aviation fuel price 50% higher in India
 
Events for the day
  • Release of weekly inflation data
  • Ex-date for interim dividend of NMDC, Jaypee Infratech

 

 STOCK TO WATCH
n TITAN n RIL
n KFA n DLF
n SBIN n ABB

 FOREX

Currency

Level

USD to INR

50.77

GBP to INR

79.75

Euro to INR

68.29

JPY to INR

0.66

INDIAN INDICES

Indices

Support Resistance
Sensex

16415

17147

Nifty

4922

5142

Fears are growing that the euro zone's crisis is moving to economies that had been considered more protected from the problems. Investors are reacting to rising yields overseas. The concern is that euro-zone leaders will be unable to enact reforms to reduce debt and promote growth.

Mounting fears about contagion from Europe's debt market woes and worries over growth weighed on the global equities and may push the Indian markets lower at start. 

FII/MF ACTIVITIES

As on 16-11-2011

FII
(Rs cr)
MF*
(Rs cr)
Gross purchase

1704.00

353.20

Gross sale

2081.10

388.30

Net investment

(377.20)

(35.10)

*As on 15-11-2011

Daily trend of FII/MF investment in equities
The FIIs have sold Indian stocks worth a net of Rs377.20 crore on November 16, 2011. The domestic investors have sold Indian shares worth a net of Rs35.10 crore on November 15, 2011. The data is as per the SEBI website.

GLOBAL INDICES

The European shares closed flat after early losses on Wednesday (November 16, 2011) as Mario Monti's move to form a new technocrat government in Italy and a pledge by Greece's LAOS party to give unconditional support to the New Greek leader provided some relief to markets.

The US stocks fell on Wednesday, with selling accelerating late in the session on more warnings about the potential impact of the euro zone's debt crisis on the global economy and the banking system

The Asian shares fell on Thursday (17 November 2011) as doubts deepened about Europe's ability to stop its sovereign debt crisis from spinning out of control, with the region's biggest nations split over the European Central Bank's bond buying role. SGX Nifty was trading 68 points down, indicating a negative opening on the Indian bourses.

Commodity cues
US crude oil prices surged on Wednesday to close above $100 a barrel for the first time since June, propelled by news of a critical pipeline reversal that will ease a year-long oil glut in the Midwest.

 COMMODITIES

Commodity

Level ($)

Chg ($)

Gold

1774.30

(7.90)

Silver

33.82

(0.63)

Crude

102.59

3.22


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