No stopping for the bears, stocks to slide further Jan 13, 2009 Stocks on India are set to fall on opening bell, as the global economic crisis worsened. Expect the Sensex to give up nearly one percent or nearly 100 points for the day. We might not see a big crash after the kind of fall we have witnessed in the past week.
The Dow Jones industrial average fell for the fourth session Monday as oil prices tumbled and as worries about the financial sector grew. So far this year, the Dow is down 3.5 percent.The Standard & Poor's 500 index fell 20.09, or 2.26 percent, to 870.26, and the Nasdaq composite index fell 32.80, or 2.09 percent, to 1,538.79. Asian stocks are likely to slide on opening bell.Japanese stock futures dropped on concern falling commodities prices and the yen’s appreciation will batter company earnings. Australia’s S&P/ASX 200 Index fell 1.1 percent to 3,642.90 as of 10:08 a.m. in Sydney. IT sector is likely to be under the gun after fresh reports of irregulaties by other IT firms like wipro and Megasoft. Metalmight be strained further after a dissapointing guidance from Aluminum major Alcoa. We would like to reiterate our stand on Realty, please stay away from these stocks. We advice investors to wait on the sidelines for now, as things have been deteriorating and could worsen further. Stick to quality stocks and PSU's if you would like to be a long term investor.There is a huge short position build up in the market now and this might be a blessing in diguise, as it could prevent the market froma sharp fall as short covering might save the day for the indices. Previous Close Box: BSE Sensex 9110.05 -296.42 NSE Nifty 2773.10 -99.90 USD Rs.48.60 Oil Nymex $37.59 Research Desk. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
