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Equities seen lower on weak global cues; Budget ey ed (The Economic Times 29th Feb 2008)Equities are seen range bound Friday as investors await Finance Minister P Chidambaram’s presentation of the Union Budget for cues that could lift sentiment. This year’s Budget being the last from the UPA government ahead of the general elections in 2009, is largely expected to be a populist one. “Once the finance minister speaks today, we will get a clearer idea of things to follow which will enable us to take a directional call on the market. But even if there are negative statements, having entered the March series quite light, losses will be limited," said DD Sharma, vice president - research, at AnandRathi Securities. "The finance minister should move toward further liberalization with regards to foreign direct investment and other regulatory reforms. But, this being the last Budget the UPA presents ahead of general elections, the FM is likely to lend financial support more to the far...

Equities seen lower on weak global cues (The Economic Times 22th Feb 2008)Weak global cues are likely to weigh down Indian equities on Friday. US stocks tumbled on Thursday, driven lower by recession fears and a sharp pullback in crude oil prices that hurt shares of energy companies. The Dow Jones Industrial Average tumbled 1.15 per cent, Standard & Poor's 500 Index slid 1.29 per cent and Nasdaq Composite Index dropped 1.17 per cent. Oil prices slipped 1.5 per cent to $98.23 a barrel after the Energy Department said crude inventories climbed by 4.2 million barrels to the highest since November. Equities across Asia plummeted on US recession concerns pulling Japan's Nikkei down 1.93 per cent, Hang Seng down 2.03 per cent and Straits Times down 1.02 per cent. The Indian rupee may ease on Friday as losses in US and Asian stock markets are likely to heighten concerns that foreigners will withdraw funds, removing a key support for the currency. On Wednesday, Bombay Stock Exchang...

Equities seen higher on positive global cues (The Economic Times 21th Feb 2108)Equities are likely to see an upside backed by positive cues from global shores. Expectations of further US interest rate cuts overshadowed worries about inflation even as oil hit a record high above $101 a barrel, propelling markets higher across the world. US stocks rose on Wednesday as a strong profit outlook from Hewlett-Packard Co lifted technology shares and the Federal Reserve signaled its intention to keep cutting rates. The Dow Jones Industrial Average shot up 0.73 percent, Standard & Poor's 500 Index gained 0.83 per cent and Nasdaq Composite Index advanced 0.91 per cent. Asian stocks rose as a weaker yen boosted Japanese exporters driving Nikkei up 2.12 per cent. Hang Seng climbed 1.24 per cent and Straits Times advanced 1.05 per cent. Back home, indices declined Wednesday to their lowest close in a week as persistent worries about the global economy eroded confidence. More Wall St rallies...

Wall St ends lower as oil spikes over $100/bl (Business Standard 20th Feb 2008)Wall Street gave up gains in the latter half of the trading day as curde oil spike over the $100-mark. The Dow Jones industrial average was down 11 points at close of 12,337. The Nasdaq slipped 16 points to 2,306.The US crude oil futures for March delivery surged 4.7% ($4.51) to settle at a record of $100.01 a barrel on the NYMEX.Indian ADRs ended on a subdued note. Genpact soared 3% to $13.91. HDFC Bank slipped 1.3% to $115.59. ICICI More Asian markets in red; Nikkei down 106pts (Business Standard 20th Feb 2008)Asian markets are in negative zone this morning.The Hang Seng has slipped 107 points to 24,016. The Nikkei has shed 106 points at 13,651.The Taiwan Weighted index has slipped 16 points to 8,008. The Straits Times index has dropped 19 points to 3,079, and the Seoul Composite index is down seven points at 1,713. More Tech Tech view: Downside may not be significant (Business Standard 20th Feb 2008)The...

Markets likely to remain choppy (The Economic Times 19th Feb 2008)Equities are likely to remain choppy Tuesday as investor participation is still missing. As regards global cues, US markets are shut on account of President’s Day while advancing Asian equities may give some support to the market. “Volumes represent levels of interest among investors. Clearly, people are not yet ready to enter the market having been burnt recently. Till the Nifty closes above 5300 on the back of good volumes, we will not have a sustainable rally,” said Viral Doshi, independent technical and derivatives analyst. Asian stocks made a brisk start on Tuesday as investors sought undervalued bank shares and exporters that could gain from a modestly stronger dollar. Japan’s Nikkei was up 0.55 per cent, Hong Kong’s Hang Seng rose 2.54 per cent and Singapore’s Straits Times added 0.69 per cent. In the primary market, the initial public offering of Rural Electrification Corporation opens today. The price band of in...

DII net buys Rs 205cr, FII net buys Rs 61cr (Business Standard 15th Feb 2008)Domestic institutional investors (DIIs) were net buyers of Rs 205.03 crore (provisional) on Thursday, according to data released by BSE. While DIIs made gross purchases of Rs 1,115.45 crore, gross sales totalled Rs 910.42 crore.Foreign institutional investors (FIIs) were net buyers of Rs 60.99 crore on Thursday. While FIIs made gross purchases of Rs 3,925.69 crore, gross sales totalled Rs 3,864.70 crore.FIIs were net buyers of Rs 349 crore on Wednesday, February 13, according to data released by Sebi on Thursday. More Wall St slips; ADRs end mixed (Business Standard 15th Feb 2008)The Dow Jones industrial average dropped 175 points to 12,377. The Nasdaq shed 41 points at 2,333.Indian ADRs ended on a mixed note. Genpact zoomed 6.6% to $14. Sterlite, Wipro, Patni Computers and Dr.Reddy's were up around 1-2% each at $19.46, $11.78, $13.46 and $13.88, respectively. More

Asian markets track US gains; Nikkei up365pts (Business Standard 14th Feb 2008)Asian markets have rallied smartly on the back of positive cues from the US markets.The Hang Seng has surged 732 points to 23,902. The Nikkei has soared 365 points to 13,433.The Taiwan Weighted index has zoomed 226 points to 7,776. The Straits Times index has advanced 72 points to 3,021, and the Seoul Composite index has added 42 points to 1,674. More Wall St rallies; ADRs gain (Business Standard 14th Feb 2008)The Wall Street rallied on Wednesday after a surprise gain in January retail sales. The Dow Jones industrial average surged 179 points to 12,552. The Nasdaq rallied 54 points to 2,374.Indian ADRs ended mostly up. HDFC Bank rallied 4.4% to $117.08. Sterlite and ICICI Bank surged nearly 3% each to $19.20 and $57.80, respectively. More US stocks up on retail figures (The Economic Times 14th Feb 2008)Wall Street moved sharply higher Wednesday after the Commerce Department reported an unexpected increase...

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 w...

Wall St slips on rate cut doubts; ADRs drop (Business Standard 6th Feb 2008)The Wall Street ended in negative zone for the third straight day yesterday after Federal Reserve officials cast doubt on the outlook for more interest cuts. The markets are expecting another 50 basis points rate cut in March. The Dow Jones industrial average slipped 65 points to 12,200. The Nasdaq shed 31 points at 2,279.Indian ADRs, too, ended weak. VSNL plunged over 3% to $24.20. Sterlite, Satyam, Wipro and Patni Computers tumbled over 2.5% each to $19.70, $23.71, $11.59 and $13.55, respectively. More Tech view: Global cues a major determinant (Business Standard 6th Feb 2008)The markets opened with a gap down and closed off the intraday lows as some bear covering was seen on declines. The traded volumes were marginally higher as the intraday volatility and wider range saw broader trader participation.The market breadth was weak as the combined exchange figures were 1,719 : 2,241 and the capitalisation of br...

Asian markets deep in red; Nikkei down 556pts (Business Standard 6th Feb 2008)Asian markets are deep in red following significant fall in the US stocks on recession fears.The Hang Seng has slumped 1,433 points to 23,375. The Nikkei has plunged 556 points to 13,189.The Shanghai Composite index has dropped 72 points to 4,600. More FII net buy Rs 312cr, DII net sell Rs 135cr (Business Standard 6th Feb 2008)Foreign institutional investors (FIIs) were net buyers of Rs 311.78 crore (provisional) on Tuesday, according to data released by BSE. While FIIs made gross purchases of Rs 2,798.80 crore, gross sales totalled Rs 2,487.02 crore.Domestic institutional investors (DIIs) were net sellers of Rs 135.16 crore on Tuesday. While DIIs made gross purchases of Rs 829.99 crore, gross sales totalled Rs 965.15 crore.FIIs were net buyers of Rs 3,810.70 crore on Monday, February 4, according to data released by Sebi on Tuesday. While FIIs made gross purchases of Rs 8,300 crore, gross sales totalled Rs ...

Equities seen flat-to-lower on weak global cues (The Economic Times 5th Feb 2008)Equities are seen opening flat-to-lower Tuesday, with losses on Wall Street and Asian indices weighing on sentiment. US stocks ended lower overnight after brokerages downgraded banks and credit card companies on signs consumers are falling behind on debt payments, hinting at the shaky state of the economy. The Dow Jones Industrial Average was down 109.17 points, or 0.86 per cent, at 12,634.02, the Standard & Poor's 500 Index was down 14.54 points, or 1.04 per cent, at 1,380.88 and the Nasdaq Composite Index was down 30.51 points, or 1.26 per cent, at 2,382.85. More Wall St slips; ADRs end mixed (Business Standard 5th Feb 2008)The US stocks declined yesterday following brokerages downgrades on banks and credit card companies. The Dow Jones industrial average slipped 108 points to 12,635. The Nasdaq shed 31 points to 2,383.Indian ADRs ended on a mixed note. Patni Computers zoomed over 6% to $14.28. ...

Equities seen higher on positive global cues (The Economic Times 4th Feb 2008)Equities are likely to extend gains on Monday mirroring global markets after the US manufacturing data showed an unexpected increase, easing concern the world's largest economy will fall into a recession. Microsoft’s biggest-ever takeover bid for Yahoo also boosted optimism about share valuations and buoyed the overall market, signaling a revival of mergers and acquisitions. On Friday, the Dow Jones Industrial Average finished up 92.83 points, or 0.73 per cent, to 12,743.19, the Standard & Poor's 500 Index gained 16.87 points, or 1.22 per cent, to 1,395.42 and the Nasdaq Composite Index shot up 23.50 points, or 0.98 per cent, to 2,413.36. Elsewhere in Asia, Japan's Nikkei and Topix gained 2.48 per cent and 2.04 per cent, respectively. Hong Kong’s Hang Seng climbed 3.48 per cent and Singapore’s Straits Times rose 2.21 per cent. More Asian markets rally; Nikkei up 335pts (Business Standard 4th...

Equities likely to remain volatile (The Economic Times 1st Feb 2008)Equities are likely to remain choppy on Friday. While US market stocks gained after bond insurer MBIA announced that it expects to retain its credit ratings, Asian markets were trading mixed. The Dow surged 207.53 points, or 1.67 per cent, to 12,650.36 and the Nasdaq Composite Index advnced 40.86 points, or 1.74 per cent to settle at 2,389.86. Japanese stocks fell after earlier gains on Friday, after Sony Corp cut its earnings outlook, pulling down the stock over 6 per cent. Japan’s Nikkei Average was down 0.62 per cent at 13,507, China’s Shanghai Composite was down 0.23 per cent at 4,373. Hong Kong’s Hang Seng was up 1.11 per cent at 23,716.37, Taiwan Weighted was up 1.78 per cent at 133.90 and South Korea’s Seoul Composite was up 0.25 per cent at 1,628.79. More Rally on Wall St, Dow up over 200pts (Business Standard 1st Feb 2008)Both the major Wall Street indices rallied on Thursday. While the Dow gained over 200 p...

Asian markets mixed; Nikkei up 73pts (Business Standard 31th June 2008)Asian markets are exhibiting mixed trend today.The Hang Seng has shed 91 points at 23,563. The Nikkei has gained 73 points to 13,418.The Shanghai Composite index has moved up 29 points at 4,447. More Wall St ends lower; ADRs drop (Business Standard 31th June 2008)The Wall Street ended in red despite a 50 basis points rate cut by the Federal Reserve. The Dow Jones industrial average slipped 37 points to 12,443. The Nasdaq was down nine points at 2,349.Indian ADRs also ended with a negative bias. More US Fed cuts interest rate by 50 bps (Business Standard 31th June 2008)The US Federal Reserve has cut its benchmark interest rate by 50 basis points to 3% to prevent the US economy from sinking into a recession."Today's policy action, combined with those taken earlier, should help to promote moderate growth over time and to mitigate the risks to economic activity,'' the Federal Open Market Committee (FOMC...

Wall St up on rate cut hope; ADRs mixed (Business Standard 30th June 2008) The Wall Street extended gains yesterday on hopes of rate cut in today's FOMC meet. The Dow Jones industrial average moved up 97 points to 12,481. The Nasdaq added eight points to 2,358.Indian ADRs, however, ended on a mixed note. Patni Computers zoomed 5.4% to $14.40. Genpact soared 3.8% to $12.25, and Infosys advanced 1.3% to $40.21. More Asian markets flat in early trades (Business Standard 30th June 2008)Asian markets are mostly flat in early trades today.The Hang Seng is up eight points at 24,300. The Nikkei has moved up 16 points to 13,494.The Shanghai Composite index has gained 26 points at 4,484. More

Rate cut hopes lift Wall St; ADRs mixed (Business Standard 29th Jan 2008)The Wall Street rallied yesterday on hopes of a rate cut this week. The Dow Jones industrial average surged 177 points to 12,384. The Nasdaq gained 24 points at 2,350.Indian ADRs ended on a mixed note. Patni Computers and Dr.Reddy's plunged nearly 4% each to $13.66 and $14.37, respectively. Sterlite and Satyam dropped over 1% each to $20.28 and $25.04, respectively. More Asian markets in green; Nikkei up 241pts (Business Standard 29th Jan 2008)Asian markets are in positive zone this morning.The Hang Seng has rallied 453 points to 24,506. The Nikkei has surged 241 points to 13,329.The Shanghai Composite index has gained 53 points at 4,473. More

Asian markets which after last weeks downfall, reacted positively by the end of the week to the Fed emergency rate cut and the news of U.S. stimulus package and almost recovered losses incurred last week, have plunged again on Monday. Asian markets again reacted in line with the US markets, which declined on Friday. On Friday Dow Jones industrials slid 1.38 percent and the technology-heavy NASDAQ composite index declined 1.47 percent. Japan's benchmark Nikkei 225 index fell 3.97 percent to close at 13,087.91, erasing its jump on Friday. Concern that US recession would mean less demand for the product from this region has brought down all major indices ion this region. China's benchmark index plummeted 7.2 percent to its lowest point in six months. Hong Kong's market sank 4.3 percent while India's Sensex closed 1.14% percent down, after a late buying propped market from the days low. U.S. stock index futures also were down, suggesting that Wall Street was poised t...

Asia mkts rise on W-Street's advance (The Economic Times 25th Jan 2008)Asian markets rallied on Friday, taking heart from Wall Street where new economic data offered a glimmer of hope for an economy that many fear is slipping into a recession. The strong advance further lifted Asian markets from their swoon earlier this week, but traders still warned that trading would likely be volatile. Hong Kong's Hang Seng Index jumped nearly 6 percent in early trade before trimming some gains. By midmorning, it was up 1,138 points, or 4.83 percent, at 24,667 points. The index fell 2.2 percent the previous day. More Mid-cap segment worst hit (The Economic Times 25th Jan 2008) Of late the market has made for a fickle companion, as many investors and brokers discovered. The swiftness with which the one-time ‘darlings’ of the market went out of favour is particularly evident in the mid-cap segment, the worst hit in the recent bear mauling. It took three days for the BSE midcap index to lose ...

Asian stocks up after 'worst is over' (The Economic Times 24th Jan 2008)Asian share prices were mostly higher in volatile early trade on Thursday on hopes that the worst of this week's massive global selloff was over, dealers said. Wall Street roared back overnight after early losses to snap a five-day losing streak despite lingering fears of a US recession and another round of bleeding in European equities. Most Asian markets entered their second day in positive territory, although Hong Kong and Shanghai were mostly flat in early trade, as investors snapped up bargains and crossed their fingers that stability was returning. More Dow soars near 300 points (The Economic Times 24th Jan 2008)US stocks snapped a five-day losing streak on Wednesday, with the Dow surging nearly 300 points on optimism that a government plan to rescue ailing bond insurers is taking shape and could prevent billions more in credit losses. The market also drew support from growing confidence that ag...

Equities to open lower on global weakness (The Economic Times 21th Jan 2008)Equities are likely to remain under pressure following weakness in the global markets on fear of recession in the US economy. US stocks tumbled on Friday on worry that a White House effort to boost the economy may not prevent a recession. Stocks erased earlier gains after President Bush said a government plan to stimulate the economy should be about 1 per cent of gross domestic product, or as much as $150 billion. Dow Jones Industrial Average was down 60 points or 0.49 per cent at 12,099.30, the Standards & Poors 500 Index shed 8 points or 0.6 per cent at 1,325.19 and the Nasdaq Composite Index lost 6 points or 0.29 per cent to 2,340.02. More Technical Outlook: Nifty to test the sanctity of the bull run (The Economic Times 21th Jan 2008)The previous Fridays' relief rally was not sustainable. Last Monday, the Nifty made a small consolidation for the big fall. On Tuesday and Wednesday, the Nifty nose-di...