The upheavals in the global markets, especially in the US, had the bulls running for cover in the Indian market. Uncertainty over the fate of the Bush government's major rescue program for the troubled financial sector kept key indices under pressure. Absence of leadership from index heavyweights, disappointing rollover of derivative contracts and persistent selling by FIIs contributed to the weakness. Finally, the benchmark BSE Sensex closed at 13,102, down 6.7% from last week, while the NSE Nifty lost 6.1% to close at 3,985.
US Policy makers say that tentative accord has been reached on $700 billions plan to have Treasury purchase bad debts.
Indo US Nuclear Deal Passed in US Congress.
Crude Oil is now around $107 per barrel.
FII have sold worth 467 Cr and Domestic MF have sold 163Cr during the last week.
Inflation numbers at 12.14% remained unchanged from the previous week.
US $ to Rs is 46.50
Monday morning would be postive gap up opening. Market is too volatile. There is possibility that Nifty will touch again 4400 soon. We suggest Exit on all rallies.
1) IPO - Allotment Status
- 20 Microns Limited
www.vjondalalstreet.com/ipoallot.php
2) Mutual Fund
- Birla Sun Life Commodity Equities Fund
- Bharti AXA Equity Fund
- Principal Emerging BlueChip Fund
www.vjondalalstreet.com/mfopen.php
Happy Trading!
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Disclaimer
All information provided is for informational purposes only, not intended for trading purposes or advice. Prior to execution of any trade, you are advised to consult your financial advisor to verify the accuracy of all information. We are not liable for any informational errors, incompleteness, delays, or for any actions based on information contained herein.
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