Pre Market Report Mar26, 2009
Stocks on Dalal Street are likely to move sideways after a decent rally on Wednesday Sensex likely to consolidate at these levels Mar 26, 2009 Stocks on Dalal Street are likely to move sideways after a decent rally on Wednesday. The benchmark index or the Sensex is likely to move within a range of 100 points on both sides. Asia is looking bright on Thursday morning. Australian shares and Japanese stock futures rose as unexpected gains in U.S. economic indicators stoked speculation the global economy is bottoming out.Australia’s S&P/ASX 200 Index rose 0.4 percent to 3,624.80. Investors shook off an attack of nerves that wiped out a big early advance Wednesday and then barreled back into the market right before the close, on WallStreet.The Dow closed up 89.94, or 1.17 percent, at 7,749.81, while the Standard & Poor's 500 index rose 7.63, or 0.95 percent, to 813.88.The Nasdaq composite index rose 12.43, or 0.82 percent, to 1,528.95, and the Russell 2000 index, which tracks small company stocks, rose 9.74, or 2.34, to 426.52. Realty stocks have heated up and this might be the right time to book some profits in these stocks, if you have entered at these levels. We would also advice investors to book profits in Metals and banking stocks,if you think you are in profits. Engineering companies like Voltas, AIA Engineering were active in yesterday's trade and look attractive at these levels. Pharma companies like Biocon and Ankur Drugs and Pharma have shown some price and volume action in yesterday's trade. On the whole the market looks poised for consolidation and should settle at the current levels. Previous Close Box : BSE Sensex 9667.90 196.86 NSE Nifty 2984.35 45.65 USD Rs.50.83 Oil Nymex $52.86 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 -~----------~----~----~----~------~----~------~--~---
