The global markets trading in red, domestic markets are expected to open negative. Results of Reliance and Bharti, which were in line with the market expectation, may not help markets to recover much ground. Although some buying may emerge on decline, since fund managers are not frowning at Indian equities much. To read full report:Daily market preview 23-01-2009
Global market drop on recession is concern, Asian market drop due to Sony forecast deeps profit concern. Yesterday we had seen the choppy trading day sue to Nero range movement. Again ht inflation figure rose from the 5.24 to 5.60% so that is the matter of concern and now bankers also have to seen for key policy rate is concern and for very short period of time we do not have a expectation of the further interest rate cut, so again the banking, real estate and interest sensitive counters will come under pressure. Yesterday reliance not posted good numbers and many corporate declare a pressure situation, today also many company declare the third quarters performance so keep watch on that announcement.
The market opened on a firm note on positive global cues. Shares from interest
rate sensitive sectors were in action ahead of the inflation data. Caution gripped
market after a strong start as key benchmark indices eased from day's high
weighed by index heavyweight Reliance Industries. Volatility rose in second half
after the inflation data hit market. The market held firm in mid afternoon trade as
losses in metal stocks were offset by gains in banking pivotals. The S&P CNX
Nifty closed at 2,713.80; up by 7.65 points. Index futures saw a trading volume of Rs.11,332.01 crores arising out of 8,92,620 contracts and Index options saw 10,87,805 contracts getting traded at a notional value of Rs.15,213.39 crores.The total turnover of the Futures & Options segment of the Exchange was around Rs.38,676.85 crores. Out of 259 securities, options on 108 underlying securities got traded. The total number of contracts traded was 84,508 with a notional value of Rs.838.22 crores.