Market to decline on weak global equities

The market may decline following weak global markets. The BSE 30-share Sensex gained 15.42 points to 15,565.55, an all time closing high, on Friday, 20 July 2007. It also struck an all time high of 15,683.03 in initial trade on that day.

The market is expected to stay choppy in the near term ahead of expiry of July 2007 derivatives contracts on Thursday, 26 July 2007. The total open interest in NSE’s F&O segment increased to an all time record of Rs 94,041.37 crore on Friday, 20 July 2007, from Rs 89,173.11 crore on previous day.

Asian indices edged lower today, 23 July 2007, after a sharp fall on Wall Street on Friday, 20 July 2007. Japan's Nikkei tumbled 1.28% at 17,924.62.

Hong Kong's Hang Seng (down 0.24% at 23,236.39) and Singapore's Straits Times (down 0.44% at 3,635.34), edged lower. However, Taiwan's Taiwan Weighted gained 0.49% at 9,633.19 while South Korea's Seoul Composite rose 0.23% at 1,988.03.

Shares on Wall Street declined sharply on Friday, 20 July 2007, retreating from record levels following disappointing results from long time favorites Caterpillar Inc. and Google Inc. The Dow fell 149.33 points, or 1.07%, to 13,851.08. Broader stock indicators also lost ground. The S&P 500 index fell 18.98 points, or 1.22%, to 1,534.10, and ended the week 1.19% lower. The Nasdaq Composite index fell 32.44 points, or 1.19%, to 2,687.60

As per provisional data, foreign institutional investors (FIIs) bought shares worth a net Rs 1155.93 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 344.48 crore on Friday, 20 July 2007.