ur report most useful sir
On Tue, Jun 16, 2009 at 9:45 AM, B. Karthick <[email protected]> wrote: > > Negative global cues to weigh on the markets > > > Bears are likely to dominate Tuesday's session on Dalal Street, as > negative global cues and profit booking might take a toll on the > Sensex. Expect the benchmark index to give up nearly 2 percent or > nearly 300 points and might test the crucial technical support of > 14,520.00. > > Wall Street experienced a terrible day as stocks markets tumbled as > new worries about the economy emerged after an index of manufacturing > in New York indicated that demand weakened in June.The Dow fell > 187.13, or 2.1 percent, to 8,612.13, and returned to a loss for the > year. The broader Standard & Poor's 500 index fell 22.49, or 2.4 > percent, to 923.72, and the Nasdaq composite index fell 42.42, or 2.3 > percent, to 1,816.38. > > Raytheon Co. is eyeing India as a big growth market for the next five > years with the potential to sell India new weapon systems for fighter > aircraft, infrastructure security and hardware for missile defense.To > gain access, the U.S. company's missile-defense unit has sought out a > number of partnerships with Indian businesses and is close to reaching > two agreements. One of them will be with Tata Power. > > In a separate development in what could be a theme going forward, Dr. > Reddy's Laboratories Ltd and U.K.-based GlaxoSmithKline PLC(GSK) > Monday announced a partnership to develop and sell selected products > across emerging markets, excluding India, with immediate effect. This > could bode well for Indian pharma industry as we are seeing > multinational companies showing increased interest in Indian firms as > Obama's healthcare reform is likely to boost the fortunes of generic > manufacturers. > > Metals stocks took a beating on Monday as expected. Sterlite Ind, Tata > Steel and SAIL were among the major losers on the Nifty as predicted > by us yesterday. We might see further correction in Realty, Metal and > this might spread to Consumer Goods and Durables today. > > RNRL was a high flier yesterday as the stock jumped by nearly 25 > percent to Rs 108 on the news of favorable court ruling. We advise > investors to book partial profits int his stock, as the legal battle > might extend for few months or years as RIL is likely to move to the > higher court. It is a good idea to sit out of the markets today, as > ther will be only few opportunities to trade. The market is likely to > open low stealing away the opportunity to short at attractive prices. > We advise investors not to short the market after a 2 percent fall in > Sensex, intraday. > > 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 -~----------~----~----~----~------~----~------~--~---
