10 Sep 2008 | 10:17 Markets expected to open down following weak global cues & remain volatile through the day
The markets opened on a weak note but soon recovered from the lows of the day and closed with moderate losses on Tuesday. The BSE Sensex closed marginally down by 0.3% at 14,900. After opening gap down & making an intra-day low of 4,419, the Nifty recovered well from those levels throughout the day. Towards the end of the session, the it made an intraday high of 4498 before closing marginally in the red at 4,469, down by 0.3% over Monday's close. The NSE cash turnover stood at Rs. 10,403 crores in comparison to Rs. 11,695 crores on Monday. The market breadth was negative on BSE with the advance-decline ratio of 0.8:1. Among the sectoral indices, the TECk and Oil and Gas indices outperformed, increasing by 0.6% and 0.4% respectively, while Metals, Banks and Realty shed the most, falling by 1.8%, 1.3% and 1.2% respectively. The U.S. stocks finished sharply lower on Tuesday, with the benchmark S&P 500 suffering its worst percentage decline since February 2007, as financial shares sold off on worries about Lehman Brothers' ability to raise much-needed cash. Dow Jones and Nasdaq decreased by 2.4% and 2.6% respectively. All the Indian ADRs closed lower with Infosys, Wipro and Satyam closing down by 2.5%, 2.8% and 2.3% respectively. ICICI & HDFC Bank decreased by 5.8% & 7.6% respectively. Among the Latin American markets, the Mexican markets decreased by 2.3%, while Brazilian markets decreased by 4.5%. Among the Metal prices, Copper and Aluminium decreased by 1.2% & 1% respectively, while Zinc & Nickel decreased by 0.9% & 0.1% respectively. The light crude oil for October decreased by 2.9% to settle at $103.26 a barrel. Today, the Asian Markets are trading on a mixed note with Nikkei & Hang Seng trading down by 1.1% & 1.7% respectively, while Singapore Strait is down by 1.2%. However Shanghai is trading higher by 1.1%. On Monday, the FIIs were net buyers of Rs. 758 crores in the cash markets, while they were net buyers of Rs. 1527 crores in the F&O markets. Mutual Funds were net buyers of Rs. 100 crores. As per the provisional figures, FIIs were net sellers of Rs. 392 crores in the cash market on Tuesday, while they were net sellers of Rs. 33 crores in the F&O markets. Today, we expect the Markets to open down following weak global cues & remain volatile through the day. Among the indices, Oil & Gas & IT are looking good, while Metals, Banks, Realty & Healthcare indices are looking weak & could underperform. --~--~---------~--~----~------------~-------~--~----~ Get latest market updates & search internet right from your browser-download our toolbar here- http://investorline.ourtoolbar.com/ Visit our site at – http://investorline.co.in/ Newsroom: http://newsroom.investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Journal - http://research.investorline.co.in/ Newscatcher- http://catcher.investorline.co.in/ Interested in Financial Planning-Let us Contact you- http://spreadsheets.google.com/viewform?key=pb_z4f1_zGMg4iBBFT3-SWQ&email=true If you like the site then promote it here- https://www.freetellafriend.com/tell/?url=http://investorline.co.in/blogs/news Create your own free blog on- http://investorline.co.in/blogger Visit this group at http://groups.google.com/group/india-investor -~----------~----~----~----~------~----~------~--~---
