India Equity Analysis, Reports, Recommendations, Stock Tips and more!
Search Now
Recommendations
Monday, October 10, 2011
Stay calm, rough ride ahead!
Anyone can hold the helm when the sea is calm. – Publilius Syrus.
An indifferent start is in the offing owing to mixed global markets and nervousness ahead of the earnings season. We expect the undercurrent to be cautious given the global headline risks. Any material fall in volatility could auger well for the markets. FII flows will also be important. IIP, Infosys results and Inflation will be the three big events for the week apart from all the daily dose of news flow from the offshore markets.
Market may open flat to slightly higher
Trading of S&P CNX Nifty on the Singapore stock exchange indicates a gain of 18 points at the opening bell. Asian stocks were mixed.
Key benchmark indices surged on Friday, 7 October 2011 snapping a four-day losing streak, as Indian shares played a catch up with a rally in world stocks on Thursday, 6 October 2011, when Indian market was closed on account of Dassera. World stocks had surged on Thursday, 6 October 2011, driven by continued hopes Europe will recapitalize its banks to tame euro-zone debt crisis.
Modest weekly gains for US stocks
Job report checks in better than expected
US stocks ended higher for the week that ended on Friday, 07 October 2011. Though stocks kicked off the week on a slow note, middle of the week saw stocks climb sharply for the broad market's best back-to-back performance in more than a month. A better tan expected job report gave a nice final push to stocks at the end of the week and the same ended with modest gains.
For the week, that ended on Friday, 07 October 2011, Dow ended higher by 189.74 points or 1.7% to 11,103.12. The Nasdaq gained 63.95 points or 2.6% to 2,479.35 and the S&P 500 gained 24.04 points or 2.1% to 1,155.46.
Bullion metals snap two day winning streak
Prices drop amid lack of any major catalyst
Precious metals ended lower on Friday, 07 October 2011 at Comex. Prices snapped a two-day winning streak as investors shied away from the metal amid a lack of catalysts to spur flight-to-safety buying. Commodities and stocks got an early a boost from a better-than-expected report on the U.S. job market, but that lift was short-lived as traders looked closer at the numbers.
Gold for December delivery fell $17.4 or 1.1%, to end at $1,635.8 an ounce on the Comex division of the New York Mercantile Exchange on Friday. Unable to catch a defensive-buying boost after debt downgrades for Italy and Spain, prices had fluctuated between small gains and losses earlier in the session. For the week, gold gained 0.8%.
Crude ends marginally higher
Prices rise following better than expected job data
Crude prices ended marginally higher at Nymex on Friday, 07 October 011. A better than expected job data helped prices end higher even though sovereign downgrades of Italy and Spain by Fitch rating weighed on the same earlier during the day.
Light and sweet crude for November delivery rose $0.39 (0.5%) to $82.98 a barrel on the New York Mercantile Exchange on Friday. Prices closed 4.8% higher for the week. For the month of September, oil futures lost 11%, and for the quarter, crude incurred losses of 17%. It was the worst quarterly performance for crude in almost two years.
Sunday, October 09, 2011
Commenting System on DP Blog
Subscribe to:
Posts (Atom)