Markets to make a good start to the week
===============================
Stock market indices on Dalal Street are headed for a higher opening
following a positive day in US markets and some good news on a
possibility of a Citi bail out deal, which is likely to calm things
down in the short term.
U.S. stock futures rose on speculation the government will help
Citigroup Inc. weather mortgage losses.According a report from Wall
Street Journal, Citigroup Inc. is nearing agreement with U.S.
government officials to create a structure that would house some of
the financial giant's risky assets, according to people familiar with
the situation.
Asian markets were mixed Monday, in spite of hefty gains on Wall
Street on Friday. The Australian and Korean stock indices trended
lower by 1.1 and 0.6 percent respectively, on opening bell. The
markets are closed in Japan for hoiday.
Friday saw some huge moves in ADAG stocks like Reliance Infra and
Reliance Communications. Expect underperfomers like DLF and JP
Associated to catch up today. Suzlon Energy is another stock to watch
out as the stock has under performed the index over the past 2 months
due to various quality and financial concerns. We might see a sigh of
relief in the stock as the demand for alternative energy sources is
likely to increase in the future with a push from the Obama's
administration.
Tata Group stocks might be under pressure as the group is facing
credit crunch due to its recent acquisition of Jaguar and Land
Rover.News reports from UK suggest that the group might be looking for
a 1 billion pound loan from the Uk government to meet its financing
requirements.
Expect a positive day on the bourses today as the Sensex is likely to
open higher by nearly 150 points or 2 percent on opening bell.Overall
a good week ahead for the stocks.
Market Close Box
BSE Sensex 8915.21 464.20
NSE Nifty 2693.45 140.30
USD Rs.50.03
Oil Nymex $49.93
N.Sukumar
Research Analyst
www.kences1.blogspot.com
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