India Equity Analysis, Reports, Recommendations, Stock Tips and more!
Search Now
Recommendations
Thursday, April 08, 2010
Negative global cues may trigger a weak start
Headlines for the day:
RIL promoters acquire shares worth Rs113 cr
ACC's savings through AFR business rise 79%
Kingfisher may raise Rs300 cr debt soon
Events for the day:
Major corporate action
Weekly inflation to be announced today
Ex-date for Interim dividend of SRF and Thinksoft Global Services
For more events, log on to Sharekhan.com
Pre-market report
Global signals
The European shares ended lower on Wednesday, following a recent strong run, as worries over Greece's fiscal problems resurfaced, and a downward revision to euro zone growth highlighted the fragility of the recovery.
The US stocks fell in a broad late-day drop on Wednesday after a top Federal Reserve official said interest rates should not stay low for much longer, giving investors an excuse to take profits.
In today's trade, the Asian markets were trading in the negative territory, following the overnight losses on the Wall Street. At the time of writing this report, SGX Nifty was trading 19.5 point lower.
Indian markets
After rallying from the last week, the Indian markets are likely to open lower on the back of the negative cues that are coming from the global markets. With the weekly inflation numbers to be announced today, which will be closely eyed by the RBI and that will decide the further course for the interest rate hike. The earning season is eagerly awaited by the market players, which will start from the next week. The result season will kick-off from Infosys Technologies on April 13, 2010.
Commodity cues
In the commodity space, the crude oil prices posted loses, with the Nymex light crude oil for the May series fell 96 cents to settle at $85.88 a barrel. This marked the first decline in the past seven trading sessions, whereas in the metals space, the Comex Gold for the May series rose by $17.20 and the Comex Silver for the May series was up by $0.27 to a troy ounce respectively.
Daily trend of FII/MF investment in equities
On April 07 2010, the FIIs were the net buyers of the Indian stocks to the tune of Rs590.30 crore, whereas the domestic mutual funds, on April 06 2010, were the net sellers of the stocks to the tune of Rs147.70 crore.