Inflation drops, Stocks to move up
===================================================Stocks on Dalal Street are expected to bounce back in early trade on Friday. The global markets are buoyant this morning after a great turn around on the wall Street. Indian markets escaped a shave yesterday due to a holiday. U.S. stocks rallied the most in two weeks, with the Standard & Poor's 500 Index jumping 6 percent in the final hour.The S&P 500 added 6.9 percent to 911.29, reversing a slide of 3.9 percent. The Dow increased 552.59 points, or 6.7 percent, to 8,835.25. The Nasdaq Composite Index jumped 6.5 percent to 1,596.7. Asian stocks were up sharply in early trading Friday, rebounding from three days of declines, after a rally on Wall Street and stronger U.S. dollar restored some confidence.Japan's Nikkei 225 was up 4.2% to 8,598.69 and South Korea's Kospi firmed 2.6% to 1,116.24. Inflation dropped to its lowest levels in nearly six months in early November as price levels in the case of both metals and fuels showed a sharp decline. This is the steepest fall in nearly 18 years.Wholesale prices rose 8.98 percent in the week to Nov. 1 from a year earlier after gaining 10.72 percent in the previous week. Tata Tele is in the news as NTT DoCoMo has decided to make the 20% open offer for the shareholders of Tata Teleservices Maharashtra (TTML) at nearly Rs 24, this is a 37 percent premium over the Closing price of Rs 18 on Wednesday. All the sectors are expected to participate in the rally and watch out for Real Estate and Metal Stocks in particular.We stick to the same advice, please stay with the front liners and play safe as the markets are going to be volatile. For the day expect a 200 to 300 point gain in the Sensex and next likely resistance for the index is 9,840.00. Market Close Box BSE Sensex 9536.33 -303.36 NSE Nifty 2848.45 -90.20 USD Rs.48.79 Oil Nymex $59.25 N.Sukumar Research Analyst www.kences1.blogspot.com --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
