stock talk
markets witnessed a huge buying interest and remained on the higher side throughout the session following positive global cues. It triggered by the US government rescue of the largest US bank by assets, Bank of America. Optimism that the US government will act to prevent the year-long recession from deepening also aided the surge on the domestic bourses. Continuous buying in stocks of oil gas, banking, telecom, power, capital goods and metal companies supported the markets to stay on the higher side. Midcap and small cap indices, however have not run up in tandem with sectoral and benchmark indices. Realty stocks as well as TCS, ACC and Grasim were under pressure. The Sensex traded above 9200 for major part of the day and went above 9300 as well in last half an hour of trade. It closed the day at 9,323.59, up 276.85 points or 3.06% over previous close. The 50-share NSE Nifty closed above 2800 mark; gained 91.75 points or 3.35% to settle at 2828.45. Falling inflation has raised expectations that the central bank may further cut interest rates to soften the impact of the global financial crisis and economic recession in key world economies on the Indian economy. The Reserve Bank of India (RBI) has substantially eased monetary policy over the past few months. more details http://16anna.com/market.asp
stock talk
Markets are likely to open Gap down tracking bad global cues. All the Asian markets are trading in deep red on the back of weak cues from the US markets. However, Inflation data in the year to 3 January 2009 scheduled to be announced during the day and TCS Q3 December 2008 earnings will be closely watched. This may bring some triggered in the market. Traders are advised to follow the trend with keeping support and resistance in their mind. Important support level will be 2660. If it breaks then there is more downside in the market. Expecting the market to trade in the range of 2660-2760. Foreign institutional investors (FIIs) were net buyers worth Rs 91.44 crore while mutual funds bought shares worth Rs 10.98 crore on Wednesday, 14 January 2009, according to provisional data on NSE. Yesterday, the key benchmark indices snapped four-day declining trend, Sensex closed up 299.13 points or 3.30% at 9370.49 and Nifty was up 90.35 points or 3.29% at 2835.30 Asian stocks which open prior to our market fell sharply, dragging the regional benchmark index to the lowest in five weeks, after Japanese machinery orders and U.S. retail sales dropped at more than double the pace economists expected. The Hang Seng has slumped 645 points to 13,089. The Nikkei has tumbled 336 points to 8,103.The Taiwan Weighted index has plunged 189 points to 4,332. The Straits Times has dropped 56 points to 1,708, and the Seoul Composite index has shed 58 points at 1,125.The Shanghai Composite index is down 10 points at 1,919. more details http://www.16anna.com/morninignotes.aspx
stock talk
Singapore NIFTY is suggesting a gap down Open around 2856. The traders should avoid shorting the NIFTY at such a Gap down open Instead GO LONG between 2835-2850 levels with A SL below 2800 an intra day target for 2875-2900. On Wednesday Indian market closed in deep red after Promoters of Satyam had cheated on its investors and stake holders as Ramalinga Raju confessed that the company had been manipulating its books of accounts by inflating its balance sheet for several years. Finally the Sensex ended down by 749 points at 9,586 and the Nifty index was down by 192 points at 2,920. However, Concerns of low quarterly earnings growth will make many traders to tread cautiously. more details http://www.16anna.com/morninignotes.aspx
stock talk
Domestic markets are poised to open positive today, in-line with a firm trend in the global markets. Yesterday Indian market shows some degree of consolidation following 2 straight sessions of strong gains. Finally, the Sensex ended at 10,335 surging 60 points and the Nifty index ended flat at 3,112. Stocks are likely to remain in a trading range with bouts of profit booking ahead of India Inc's earnings season commencement next week. Concerns of low quarterly earnings growth will make many traders to tread cautiously. more details http://www.16anna.com/morninignotes.aspx
stock talk
Domestic markets are poised to gap-up open in response to the policy measures announced over the weekend to protect India from a slumping global economy. U.S. market rose on Friday, in defiance of further weak economic data, as hopes for an economic recovery during 2009 buoyed investors. Asian market also trading higher due to Wall Street rally. On Friday Indian Market ended volatile session in the positive territory as traders booked profits at higher levels. Market surge on expectations of the government announcing second stimulus package and the Sensex crossed the 10,000-level. Finally the Sensex ended at 9,958 adding 54 points and the Nifty index ended at 3,046 up 13 points. The Reserve Bank of India (RBI) on Friday cut the repo rate and the reverse repo rate by 100 basis points each, with immediate effect. The RBI also announced a cut in cash reserve ratio, the proportion of deposits banks must keep with the central bank, by 50 basis points to 5% with effect from 17 January 2009. Firm global markets will also support domestic bourses which have bounced back in the past few weeks. more details http://www.16anna.com/morninignotes.aspx
