Jitters in the financial markets continue to haunt stocks in Dalal Street Stocks might see another round of sell off as investors are growing impatient with the uncertainity in the market. Expect the Sensex to lose nearly 1 percent or nearly 130 points for the day.
Tension grew in the financial markets Wednesday, sending most stocks moderately lower as investors worried about the effectiveness of a still-emerging government plan to rescue banks from crippling debt. The Dow ended down 0.27 percent, where as the NASDAQ closed flat with a gain of 0.11 percent at 2155.68. Asian markets declined Thursday, with resource-related stocks such as BHP Billiton hit by a drop in crude-oil prices, while banks fell on indecision over a U.S. government bailout plan for the financial sector. The Nikkei 225 Average fell 2.1% to 11,861.90. The good news on the FIIS front is that JPMorgan Chase & Co., the third- largest U.S. bank, plans to double private equity investments in India to $1 billion as the nation's equities head for the worst year on record. JPMorgan's private equity unit has so far invested in L&T Infrastructure Development Projects Ltd., Apollo Hospitals & Enterprises Ltd. and Cafe Coffee Day. Metals have seen a good bouse after the sectoral index fell more nearly 25 percent for the month. The index managed to bounce back nearly 5 percent in the last 4 sessions, thanks to the move in Sterlite Ind, Tata Steel and Nalco. Some midcaps have shown great strength in yesterday's market. Stocks like Austral Coke, Nutek India and Indowind energy have shown some speculative moves and it is not a bad idea to book some profits if you have entered them in lower levels. We believe as there are some A group stocks that look relatively cheap with compelling valuations. Although the mood in the market is not buoyant, we want to reiterate that the fundamentals are in tact and advise long term investors to accumulate quality stocks. Suitable stocks for intraday today: <RELIANCE, ICICIBANK, RELCAPITAL, LT, BHARTIARTL, BHEL, CAIRN, INDIABULLS, M&M, BOMDYEING> Market Close Box: BSE Sensex 13692.52 0.00 NSE Nifty 4161.25 34.35 USD Rs.45.83 Oil Nymex $105.7 B.Karthick Research Analyst. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
