Equity Alert: Shrs to open down 2-3% as overseas mkts fall sharply
MUMBAI--9:35AM--Key share indices are likely to open down 2-3%
today
tracking the sharp fall in overseas markets amid concerns over the
health of
global financial markets, dealers said.
"A 500-point fall on Sensex is likely. Market may retest July lows
or make
new lows for this year," said a dealer.
Selling pressure is expected to exist across the board, but value
buying at
lower levels may emerge, dealers said.
Crude oil is also hovering around $91 a barrel on NYMEX and that
might
soothe nerves of some investors, they said.
Sensex support is seen around 12500 levels. Dealers recommend
exercising
caution in buying right now.
Monday, Sensex ended at 13531.27, down 469.54 points, or 3.35%,
from close
Friday. Nifty closed at 4072.90, down 155.55 points, or 3.7%.
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