****Makets indecisive, after a decent run
up last week*****
Stocks in Mumbai are likely to trade in a narrow band on the first
trading day of the week. Expect the Sensex to fall in to the negative
territory and a 100 point fall is not ruled out.The Asian markets kicked off the week in red, as the markets in Australia, South Korea and Japan opened lower. The benchmark index in Japan or the Niei gave up more than 0.5 percent or 40 points in the first hour of the trade. The next few weeks will be crucial for the markets as India may unveil its biggest budget deficit in 18 years as the government increases spending to protect the economy from the global recession, ahead of the parliamentary elections in two months. The stock of NTPC is likely to move up as we might see some demand for the stoc after the company announced on Friday that the company which accounts for 20 percent of India’s power capacity, and Nuclear Power Corp. will spend as much as $3 billion to build new atomic plants in the next eight years. UB group is again news now, news reports from pink papers suggest that the the company that owns India’s biggest liquor maker, plans to sell its stake in Aventis Pharma Ltd. UB Group owns 10.28 percent in Aventis Pharma and Sanofi-Aventis SA owns 50.1 percent. In what could be a good news to aviation sector, Public sector oil companies today slashed jet fuel or Aviation Turbine Fuel (ATF) prices 3.7 per cent, the tenth reduction since September, taking rates to early 2005 levels. Watch out Jet Aviation and Kingfisher Airlines. Technology solutions provider Bartronics today bagged a project for setting up 2,000 kiosks of the Municipal Corporation of Delhi,with an aim to mop up Rs 5,000 crore over the next nine years. The stocks is currently trading at Rs 76 and might hit an upper circuit today as the news came after the markets closed on Friday. Previous Close Box : BSE Sensex 9634.74 168.91 NSE Nifty 2948.35 55.3 USD Rs.48.72 Oil Nymex $37.51 Research Desk --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
