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INDIA INFOLINE::
INDIABULLS WEEKEND PLATER::
PINC VIEW::
FAIRWEALTH MANAGEMENT::
SOME INFORMATIONS FOR NEXT WEEK:
Global signals: European stocks fell on Friday, down for the third straight day tracking US and Asian markets’ losses after poor US data brought fears of a double-dip recession back to the forefront of investors' minds.
All the major Asian markets closed in the negative territory on Friday except Jakarta Composite that closed higher.
Bulls took a pause after two-day strong run in domestic market. The domestic indices gave up its previous sessions gains and ended the last day of the week with modest losses. The indices retreated from a 30-month high, paring a weekly advance, led by financial companies after Credit Suisse said that the nation’s banking stocks are expensive. The Sensex and Nifty managed to hold the 18400 and 5500 levels in today’s trade.
Bond Market: India’s government bonds rose for the first time this week on speculation yields at the highest level in more than three months attracted investors. India’s rupee headed for a weekly gain on speculation that the nation’s higher-yielding assets will attract more investment from overseas.
Market sentiment:The market breadth was negative as declining stocks outnumbered the advancing ones. Of the 3,071 stocks traded on the BSE, 1,601 fell whereas 1,353 rose. Hundred and seventeen shares traded unchanged.
Fresh positions in the F&O September series evidence some more upward steam for market; also strong support at both the 5500 and the 5400 level may limit the down move as fresh money is still waiting to enter in every dip.
