MACRO ECONOMIC FACTORS
Inflation figures stood at 4.11 % at the end of this week compared with 3.93% last week.
The yield on the 10-year G – Sec has remained flat at 6.83%.
Crude oil price stood at US$89.08 per barrel by the end of the week. Over the week crude oil prices hovering around US$87.14 - 90.02 per barrel.
Rs per US$ exchange rate closed at 39.62 by the end of the week. Exchange rate Rs/US$ continued to trade around Rs.39.44to 39.62.
Saturday, February 9, 2008
Friday, February 8, 2008
Cox & Kings IPO
Cox and Kings Limited is all set to tap the Indian capital markets with an IPO in the near future. Cox and Kings IPO draft red herring prospectus has been filed with SEBI last week. Once the DRHP of Cox and Kings IPO is approved by SEBI, the IPO can open for subscription anytime withing 6 months from the date of SEBI approval. If the Indian stock markets are buyoyant, then Cox and Kings IPO is likely to hit the markets in March 2008.but looking at the recent withdrawls of Emar and Wockhardt Hosp it seems unlikely C&k will come with an IPO unless market stablises
Market commentary 08/07/2008
Market drifts lower in choppy trade Emaar MGF Land withdraws IPO
Volatility was the hallmark for the day as the market swung like pendulum in negative and positive terrain throughout the day. The market recovered from lower level in mid-afternoon trade on positive cues from European markets. The market had swung between positive and negative zone in mid-morning trade after undergoing high initial volatility. Sensex fell below 17,500 mark. Most of the Asian markets were closed today.
Volatility was the hallmark for the day as the market swung like pendulum in negative and positive terrain throughout the day. The market recovered from lower level in mid-afternoon trade on positive cues from European markets. The market had swung between positive and negative zone in mid-morning trade after undergoing high initial volatility. Sensex fell below 17,500 mark. Most of the Asian markets were closed today.
Thursday, February 7, 2008
Market Commentary 07/02/2008
Sensex sheds 613
The market plunged for a second day in a row today weighed down by weak sentiment in global markets. A strong GDP growth forecast for the current fiscal and a surge in domestic liquidity, failed to provide any respite for the markets.
The 30-share BSE Sensex slumped 612.56 points or 3.38% at 17,526.93. Sensex shed 647.21 points at the day's low of 17,492.28, hit in late trade. Sensex touched a high of 18,198.68 in the initial trade. At day's high it rose 59.19 points.
The broader CNX S&P Nifty was down 189.3 points or 3.59% at 5,133.25.
The market plunged for a second day in a row today weighed down by weak sentiment in global markets. A strong GDP growth forecast for the current fiscal and a surge in domestic liquidity, failed to provide any respite for the markets.
The 30-share BSE Sensex slumped 612.56 points or 3.38% at 17,526.93. Sensex shed 647.21 points at the day's low of 17,492.28, hit in late trade. Sensex touched a high of 18,198.68 in the initial trade. At day's high it rose 59.19 points.
The broader CNX S&P Nifty was down 189.3 points or 3.59% at 5,133.25.
Wednesday, February 6, 2008
Market Commentary 06/02/2008
Weak Asian markets cast their shadow on the Indian bourses today. Selling pressure was witnessed in consumer durables, IT, metal and auto stocks.
An unexpected contraction in the service sector in the US once again sparked fears the economy may sink into recession, hitting Asian stocks.
The 30-share BSE Sensex declined 523.67 points or 2.81% at 18,139.49. Sensex hit a high of 18,274.15 in mid-morning trade. At the day's high, Sensex was down 389.01 points. Sensex touched a low of 17,936.01 in initial trade. At day’s low it shed 727.15 points.
An unexpected contraction in the service sector in the US once again sparked fears the economy may sink into recession, hitting Asian stocks.
The 30-share BSE Sensex declined 523.67 points or 2.81% at 18,139.49. Sensex hit a high of 18,274.15 in mid-morning trade. At the day's high, Sensex was down 389.01 points. Sensex touched a low of 17,936.01 in initial trade. At day’s low it shed 727.15 points.
Monday, February 4, 2008
Market Commentary
The market surged for the second straight day in volatile trade on continued buying support in index pivotals. The market had soared in afternoon trade extending early gains as Asian stocks rose with sentiment boosted by Microsoft Corp's bid for Yahoo Inc and following China's buy of a large stake in takeover target Rio Tinto. However, it turned volatile in mid-afternoon trade and pared some gains as two index heavyweights Reliance Industries and ICICI Bank eased from day’s highs.
The market breadth was strong. 26 from the 30-member Sensex pack were in the green.
The market breadth was strong. 26 from the 30-member Sensex pack were in the green.
Subscribe to:
Posts (Atom)
