Globally the equity markets plunged today on account of poor economic data from the US markets. With the Jobless claims increasing and the housing starts declining the Asian markets opened on a cautious note and closed in red. Similarly the Indian markets opened in green but there after witnessed only one direction and that was downwards. After opening in green, while Sensex closed at 14665.92 (Down 437 Points), Nifty closed at 4429.90 (Down 157 points). On the sectoral front realty lost 10.54 per cent and even metals lost the sheen. Even Bankex, Consumer Durables and PSU indices were down by more than 4 per cent. We feel it was a combine effect of profit booking and weak global cues.

MARKET OUTLOOK 05 JUNE 09

Market Outlook: 05 June 2009
Today the Sensex faced a strong resistance at 14850-14860 levels. The market did take its time to consolidate and move forward and finally ended the day up by 137.78 points. Now the best part here is that the Sensex has closed above 15000 for the first time since the recovery started in March 2009. And this is a very good sign as it gives more comfort level for investors and also indicates that the Sensex could inch forward from these levels as well. Our sense says that the market will remain firm and move up steadily till the budget as there are lot of expectation from the UPA. Though their might some kind of profit booking as well, things are still looking bright for the Sensex. In fact most of the Asian markets are down, while Europeans arent much exciting either but still the Sensex finds a way of its own and closes on a positive note.
We expect a gap up opening for the Sensex tomorrow be Cautious on higher levels

After opening in the positive, Indian markets slummed down by noon and found it difficult to recover from the red ending 4 points (SENSEX) and 5.45 points (Nifty) down respectively. The Asian markets on the other hand traded in the positive and closed the day also in the green (except for TSEC which closed 55.94 points down). The Small cap Index stood its ground by gaining 2.11 percent at the closing as compared to the Mid cap Index. On the sectorial front, the FMCG Index gained the most by
closing 4.19 percent in the green. And the Banking Index lost the most closing 1.29 percent down. The advance decline ratio too was in favour of the former (70:30).The market breadth was positive with advances at 889 against declines of 378 on the NSE. Top Nifty gainers included Suzlon, Hindalco and ITC while losers were Cairn India, HCL Technologies and SAIL
Market Close in Red now we expect flat opening and be cautious on higher level because to sustain a positive trend from here is very difficult

Market Outlook: 03 June 2009

Our market opened gap up but turned weak and then recovered from the day's lows to end flat .It was a highly volatile day for the Indian equity markets. Although the market remained in the positive zone through out the day, high volatility kept the investor on their toes. In the morning, better manufacturing data from China helped the Asian markets to trade in positive zone, but the selling at every higher level kept the market gains under check. But finally the bulls managed to outshine bears and markets closed in green. Again the mid cap and small cap indices outperformed the Sensex with significant gains. On the Sectoral front the rally in stock market and some ease on liquidity front has helped the realty index surge ahead. Even metals managed to outperform.
The market breadth was positive with advances at 619 against declines of 650 on the NSE. Top Nifty gainers included Tata Steel, SAIL and HCL Technologies while losers were ACC, Ranbaxy and Reliance Infrastructure

TODAYS VIEW

Markets may take a hit, if expectations not metExtending the rally to the 12th successive week, markets have closed for the week ended at nine-month highs. On the BSE, the Sensex jumped 738 points to 14,625 and the Nifty scored double century to end at 4,449. Excellent market breadth could be gauged by the strong out-performance of CNX Midcap and BSE Smallcap indices.Buoyed by FII buying numbers, participation by retail investors increased triggering surge in volumes. Better than expected Q4 GDP number and reform statements like oil-price deregulation provided fodder for the bulls. With international crude oil prices showing firm uptrend and surge in the bullion and commodity prices, analysts expect some barricades in the path of a speedy economic recovery.