Daily Market Preview
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MARKET PREVIEW JAN 15th, 2010
The market may extend last two days’ gains on higher Asian stocks. US stocks rose on Thursday on better than estimated result by Intel Corp. Closer home, investors will closely watch Q3 December 2009 results from IT major Tata Consultancy Services (TCS) and banking majors HDFC Bank and Axis Bank due later in the day today….
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MARKET PREVIEW JAN 14th, 2010
The government may reportedly revert to pre-slowdown indirect tax rates in two phases beginning April 2010 as the government weighs likely harm to the ongoing economic recovery if a rollback is done at one go with the urgent need to move towards greater fiscal prudence. A suggestion to undertake a partial rollback figured in the first round of pre-Budget consultations between Prime Minister Manmohan Singh…
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MARKET PREVIEW JAN 13th, 2010
The market may extend Tuesday’s (12 January 2010) fall on weak Asian stocks after China’s move to cool lending. US stocks fell on Tuesday. Asian stocks fell for the first time in four days on Wednesday led by mining companies, after China moved to cool lending and commodity prices dropped. China’s Shanghai Composite fell 2.28%…
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MARKET PREVIEW JAN 12th, 2010
IT bellwether Infosys’s Q3 December 2009 result will set the tone for the market. However, weak Asian stocks may dent sentiment. The government will announce industrial output data for the month of November 2009 today, 12 January 2010. Industrial production recorded a robust 10.3% growth in October 2009. Bajaj Auto will also announce its Q3 December 2009 result today….
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MARKET PREVIEW JAN 11th, 2010
The market may snap last two days losses on positive Asian stocks after strong trade data from China in the month of December 2009. US market closed moderately higher on Friday, 8 January 2010. The expectations of better Q3 December 2009 result by India Inc may further support market. IT bellwether Infosys kickstarts Q3 result season on Tuesday, 12 January 2010…
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MARKET PREVIEW JAN 8th, 2010
The market may edge higher tracking gains in Asian stocks. US stocks closed higher on Thursday on better than expected weekly jobs data. Closer home, the food price inflation eased slightly in late December 2009, data released by the government during trading hours on Thursday, 7 January 2010, showed. The food price index rose 18.22% in the 12 months to 26 December 2009, lower than an annual rise of 19.83% in the previous week…
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MARKET PREVIEW JAN 7th, 2010
The market may open higher on gains in most of Asian stocks. However, volatility may remain high as investors may look to cash in some profit after recent solid gains in indices. The government will today unveil data on some wholesale price indices for the year through 26 December 2009 viz. the food price index, the primary articles index and the fuel price index….
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MARKET PREVIEW JAN 6th, 2010
The market may extend recent strong gains on higher Asian stocks. US stocks closed flat on Tuesday on a mixed set of economic data. Expectations that the central bank may keep interest rates low, may also support stocks. Shares of DB Corp will be listed on the bourses today. The company had priced the initial public offer at Rs 212. It had alloted shares to retail investors at a discount of Rs 2 per share.
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MARKET PREVIEW JAN 4th, 2010
The market may extend recent gains on firm trading in most of Asia. Jump in domestic exports may also support market. From today, 4 January 2010, trading will start at 9:00 IST and end at 15:30 IST compared to the earlier timing of 9:55 IST to 15:30 IST. The market remained closed on Friday, 1 January 2010, for the New Year holiday…
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MARKET PREVIEW 30th DEC, 2009
The market is likely to end its four-day winning streak following subdued global cues. The S&P CNX Nifty futures for December 2009 expiry were trading 6 points lower in Singapore. Aviation stocks may see action on reports the new ground handling policy implementation has been deferred by a year…
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MARKET PREVIEW 29th DEC, 2009
• Profit taking may pull the market lower after strong gains in the past three days as trading resumes after an extended weekend. The S&P CNX Nifty futures for December 2009 expiry were trading 13 points higher in Singapore.
• Trading resumes today after a four-day break. The market remained closed on Friday, 25 December 2009 for…
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MARKET PREVIEW 24th DEC, 2009
The market is likely to extend Wednesday’s solid surge on firm Asian stocks. The S&P CNX Nifty futures for December 2009 expiry were trading 2.5 points lower in Singapore. The government will today unveil data on some wholesale price indices for the year through 12 December 2009 viz. the food price index, the primary articles index and the fuel price index…
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MARKET PREVIEW 23rd DEC, 2009
• The market may extend Tuesday (22 December 2009)’s gains on positive Asia. US stocks ended higher on Tuesday on better monthly home sales data. Higher advance tax payment by India Inc may further support market.
• Corporate advance tax payments for the October-December 2009 quarter shot up sharply
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MARKET PREVIEW 22nd DEC, 2009
• The market may gain tracking firm Asian stocks after US stocks surged on Monday. Higher advance tax payment by India Inc may further boost sentiment.
• Advance tax payments by Indian firms rose an annual 24 % in October-December, signaling higher corporate profits and raising prospects that the country may exceed the target for direct taxes, a finance ministry official said on Monday. The corporates paid about Rs 55,900 crore inadvance tax in the December quarter compared to about Rs 50500 crore during July-September quarter, and about Rs 41,600 crore during the year-ago quarter.
• Top 100 firms’ advance tax payments were up more than 30 % in the December quarter. The net direct tax receipts, which include corporate tax and income tax paid by individual tax payers grew by about 8.5 % during October-December compared to a year ago.
• India’s food-price inflation cannot be tackled through monetary and other policy steps, while inflationary expectations will not stay long, Finance Secretary Ashok Chawla said on Monday. Earlier on Monday, the Prime Minister’s economic advisor C Rangarajan said India’s central bank may have to raise the cash reserve ratio (CRR) to drain money from the banking system if prices do not decline in December.
• Asian stocks rose on Tuesday on course for its first gain in four days, as the weaker yen boosted the earnings outlook for Japanese makers of electronics and cars and after metal prices advanced.
• Wall Street gained on Monday with the Nasdaq closing at a new 15-month high. Positive earnings, upgrades for Alcoa and Intel and the senate health-care bill advancing triggered gains despite the dollar index gradually gaining traction.
• As per provisional figures on NSE, foreign funds sold shares worth Rs 291.94 crore and domestic funds bought shares worth Rs 353.83 crore on Monday…
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MARKET PREVIEW 21st DEC, 2009
Reserve Bank of India (RBI) governor Duvvuri Subbarao on Friday said he discussed the country’s macroeconomic situation with Finance Minister Pranab Mukherjee. Data last week showed that food prices surged an annual 20 % in early December as this year’s poor monsoon hit crops. The Reserve Bank of India’s next scheduled policy review is at the end of January, but it can change policy settings at any time…
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MARKET PREVIEW 18th DEC, 2009
Food prices rose 19.95% in the year to 5 December 2009, picking up from a 19.05 % rise a week earlier, weekly data showed on Thursday. The data reinforced market expectations the central bank would tighten policy as early as January 2010. The government is under pressure from opposition parties and allies to contain inflation, especially politically sensitive food prices which are hurting poorer sections in the country…
