Wall St ends up on bargain hunting;ADRs mixed (Business Standard 8th Feb 2008)After three days of downside, the Wall Street ended on a positive zone yesterday on the back of bargain hunting. The Dow Jones industrial average moved up 47 points to 12,247. The Nasdaq added 14 points to 2,293.Indian ADRs ended on a mixed note. Patni Computers surged 2.4% to $13.87. HDFC Bank advanced 1.7% to $113.35, and Satyam spurted over 1% to $23.98. On the other hand, VSNL dropped 2.7% to $23.55. More
Equities seen range bound; global cues mixed (The Economic Times 8th Feb 2008) Equities are likely to remain range bound on Friday. A positive close in the US overnight is likely to provide some support to the Indian market but investors will continue to remain cautious. US stocks rose for the first time this week as an improved outlook for earnings at retailers and banks overshadowed a bigger-than-forecast drop in home sales and slowing demand for computer equipment. The Dow Jones industrial average was up 0.38 per cent at 12,247, Standard & Poor's 500 Index gained 0.79 per cent to 1,336.91 and Nasdaq Composite Index rose 0.63 percent to 2,293.03. All Asian markets, barring Japan, were shut for the second day on account of Lunar New Year. Japan’s Nikkei and Topix were down 0.79 per cent and 0.85 per cent respectively. More
Tech view: More unwinding looks possible (Business Standard 8th Feb 2008)The markets opened with a negative bias and closed with significant losses led by selling in frontline index heavies. The traded volumes were marginally higher as the intraday volatility and wider range saw broader day trader participation.The market breadth was negative as the combined exchange figures were 1,027 : 2,966 and the capitalisation of breadth was also negative, with the figures being Rs 1,363 crore : Rs 18,892 crore.The indices have closed at lower end of the intraday range and on continued negative market internals. The traded volumes were marginally higher. The intraday range specified for Thursday at 5,190 / 5,450 was violated on declines as the selling pressure was palpable.The coming session is likely to witness an intraday range of 4,990 on declines and 5,275 on advances. The declining daily range indicates a lower top and bottom formation. Watch the traded volumes in case of an drawdown below the 5,000 levels, which will indicate stepped up bearish aggression. More
FII net sell Rs 860cr, DII net buy Rs 231cr (Business Standard 8th Feb 2008)Foreign institutional investors (FIIs) were net sellers of Rs 860.35 crore (provisional) on Thursday, according to data released by BSE. While FIIs made gross purchases of Rs 2,141.67 crore, gross sales totalled Rs 3,002.02 crore.Domestic institutional investors (DIIs) were net buyers of Rs 230.70 crore on Thursday. While DIIs made gross purchases of Rs 994.01 crore, gross sales totalled Rs 763.31 crore. More
Equities seen range bound; global cues mixed (The Economic Times 8th Feb 2008) Equities are likely to remain range bound on Friday. A positive close in the US overnight is likely to provide some support to the Indian market but investors will continue to remain cautious. US stocks rose for the first time this week as an improved outlook for earnings at retailers and banks overshadowed a bigger-than-forecast drop in home sales and slowing demand for computer equipment. The Dow Jones industrial average was up 0.38 per cent at 12,247, Standard & Poor's 500 Index gained 0.79 per cent to 1,336.91 and Nasdaq Composite Index rose 0.63 percent to 2,293.03. All Asian markets, barring Japan, were shut for the second day on account of Lunar New Year. Japan’s Nikkei and Topix were down 0.79 per cent and 0.85 per cent respectively. More
Tech view: More unwinding looks possible (Business Standard 8th Feb 2008)The markets opened with a negative bias and closed with significant losses led by selling in frontline index heavies. The traded volumes were marginally higher as the intraday volatility and wider range saw broader day trader participation.The market breadth was negative as the combined exchange figures were 1,027 : 2,966 and the capitalisation of breadth was also negative, with the figures being Rs 1,363 crore : Rs 18,892 crore.The indices have closed at lower end of the intraday range and on continued negative market internals. The traded volumes were marginally higher. The intraday range specified for Thursday at 5,190 / 5,450 was violated on declines as the selling pressure was palpable.The coming session is likely to witness an intraday range of 4,990 on declines and 5,275 on advances. The declining daily range indicates a lower top and bottom formation. Watch the traded volumes in case of an drawdown below the 5,000 levels, which will indicate stepped up bearish aggression. More
FII net sell Rs 860cr, DII net buy Rs 231cr (Business Standard 8th Feb 2008)Foreign institutional investors (FIIs) were net sellers of Rs 860.35 crore (provisional) on Thursday, according to data released by BSE. While FIIs made gross purchases of Rs 2,141.67 crore, gross sales totalled Rs 3,002.02 crore.Domestic institutional investors (DIIs) were net buyers of Rs 230.70 crore on Thursday. While DIIs made gross purchases of Rs 994.01 crore, gross sales totalled Rs 763.31 crore. More
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