Another Choppy week - During the last week, global markets witnessed extreme volatility on the US bail out $700 Billion package. Continuous selling in index heavyweights by the FIIs further contributed to the gloom. During the week, the NSE Nifty touched a fresh 2008 low of 3,715. Even the soothing words from the Finance Minister, RBI and SEBI could not calm the markets. Finally, the Nifty closed at 3,818, down by 4.2% and the benchmark BSE Sensex closed at 12,558, down by 4.2%.
Crude Oil is now around $93 per barrel.
Inflation numbers at 11.99% from the last weeks 12.14% was the only good news last week.
US $ to Rs is around 46.70
Basically, market is yet to find its bottom. Now it also the time of Quarterly results. Seeing global market conditions there is only downside from here. However if there are some good results, we might see Nifty going up to 4200 - 4300 (but am not sure if it can hold that).
1) IPO - Listing Strategy
- 20 Microns Limited listing on 6th October. For our listing analysis, please visit
www.vjondalalstreet.com/ipogmp.php
2) IPO - Allotment Status
- 20 Microns Limited
- Chemcel Biotech Limited
www.vjondalalstreet.com/ipoallot.php
3) IPO
- Alkali Metals Limited
www.vjondalalstreet.com/ipo.php
4) Mutual Fund
- Birla Sun Life Commodity Equities Fund
- Principal Emerging BlueChip Fund
www.vjondalalstreet.com/mfopen.php
Happy Trading!
http://www.vjondalalstreet.com
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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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