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CAPITAL MARKET

MARKET PREVIEW MAR 5th, 2010

• Indian equities are likely to open flat on Friday, Mar. 5, 2010. SGX Nifty is trading at 5,103.50 , 24 points higher than Thursday’s closing of 5,079.50.

• Asian stocks rose for the fourth time in five days after U.S. jobless claims fell and the Nikkei newspaper reported that the Bank of Japan may further loosen monetary . Japanese benchmark index Nikkei 225 rose 215.98 points, or 2.13%, to trade at 10,361.70.

• European stocks declined as Aviva Plc reported earnings that missed analysts` estimates, offsetting a gain in Schroders Plc. UK`s benchmark index FTSE 100 declined 6.05 points, or 0.11%, to end at 5,527.16.

• The US markets make out modest gains after some encouraging economic news ahead of the jobs report. Consumer stocks were the top performers on better-than-expected retail-sales reports. Earlier stocks had bobbled midmorning after a report showed an unexpected drop in pending-home sales.

• US Strength among financials helped the broader market shrug off a stronger dollar, which gained 0.7% against competing currencies. The Dow gained 47.38 or half a percent, to close at 10,444.14. The S&P 500 and NASDAQ also posted modest gains

• The government has chalked out a two-year plan to infuse around Rs 35,000 crore of capital in public sector banks to enable them to meet the economy’s credit requirement. The proposed capital infusion will be done in Tier-I capital funds, which will help them to maintain an 8% Tier-I capital adequacy ratio (CAR).

• FIIs had bought equities worth Rs 2311 crore in February 2010. FII inflow in the calendar year 2010 totaled Rs 4,358.90 crore (till 3 March 2010).

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