desidata
17-04-2008, 09:51 AM
Local market may open higher today, 17 April 2008, following firm global cues. Asian markets were trading higher today, 17 April 2008. US markets settled with decent gains yesterday, 16 April 2008.
However, the alarming rise in inflation is a cause of concern, which is now way above Reserve Bank of India’s caution limit of 5%. Inflation data for the week ended 5 April 2008 will be released today. The wholesale price index rose 7.41% in 12 months to 29 March 2008, accelerating from the previous week's annual rise of 7%. The rate is the highest reading since 13 November 2004 when it was 7.68%
Asian markets were trading higher today, 17 April 2008. Japan's Nikkei (up 2.33% at 13,452.23), Hang Seng (up 1.69% at 24,280.76), Taiwan's Taiwan Weighted (up 0.67% at 9,127.13), Singapore's Straits Times (up 1.80% at 3,143.07) and South Korea's Seoul Composite (up 1.13% at 1,778.43) edged higher.
Wall Street shares surged to end at their highs for the day yesterday, 16 April 2008, as investors cheered the latest round of earnings, which included Intel and JP Morgan. JP Morgan was the biggest gainer at 6%. Inspite of a 50% drop in profits it still beat street expectations.
The Dow Jones industrial average jumped 256.80 points or 2.08% to 12,619.27, the broader S&P 500 index advanced 30.28 points or 2.27% to 1,364.71 and the Nasdaq Composite index climbed 64.07 points or 2.80% to 2,350.11.
Back home, gains in three index heavyweights Infosys, Reliance Industries and ICICI Bank led gains in the key benchmark indices on Wednesday, 16 April 2008. The 30-share BSE Sensex rose 90.53 points or 0.56% at 16,244.19 while the S&P CNX Nifty rose 7.65 points or 0.16% at 4887.30 on that day.
Sensex has gained 1434.7 points or 9.68% from a low of 14,809.49 on 17 March 2008. It is off 4962.58 points or 23.40% from a record high of 21206.77 hit on 10 January 2008.
As per provisional data, foreign funds sold shares worth a net Rs 49.89 crore on Wednesday, 16 April 2008. Domestic funds sold shares worth a net Rs 90.08 crore on that day. FIIs were net buyers of Rs 1,350.86 crore in the futures & options segment on Wednesday, 16 April 2008. They were net buyers of index futures to the tune of Rs 211.03 crore and bought index options worth Rs 961.82 crore. They were net buyers of stock futures to the tune of Rs 140.08 crore and bought stock options worth Rs 37.93 crore.
In the calendar year so far, FIIs sold shares worth a net Rs 11720.90 crore (till 15 April 2008), to offset their huge losses in the US sub-prime mortgage market.
A weaker dollar and a surprise drawdown in US crude inventories sent Nymex crude futures to a new intraday record of $115.07 per barrel.
However, the alarming rise in inflation is a cause of concern, which is now way above Reserve Bank of India’s caution limit of 5%. Inflation data for the week ended 5 April 2008 will be released today. The wholesale price index rose 7.41% in 12 months to 29 March 2008, accelerating from the previous week's annual rise of 7%. The rate is the highest reading since 13 November 2004 when it was 7.68%
Asian markets were trading higher today, 17 April 2008. Japan's Nikkei (up 2.33% at 13,452.23), Hang Seng (up 1.69% at 24,280.76), Taiwan's Taiwan Weighted (up 0.67% at 9,127.13), Singapore's Straits Times (up 1.80% at 3,143.07) and South Korea's Seoul Composite (up 1.13% at 1,778.43) edged higher.
Wall Street shares surged to end at their highs for the day yesterday, 16 April 2008, as investors cheered the latest round of earnings, which included Intel and JP Morgan. JP Morgan was the biggest gainer at 6%. Inspite of a 50% drop in profits it still beat street expectations.
The Dow Jones industrial average jumped 256.80 points or 2.08% to 12,619.27, the broader S&P 500 index advanced 30.28 points or 2.27% to 1,364.71 and the Nasdaq Composite index climbed 64.07 points or 2.80% to 2,350.11.
Back home, gains in three index heavyweights Infosys, Reliance Industries and ICICI Bank led gains in the key benchmark indices on Wednesday, 16 April 2008. The 30-share BSE Sensex rose 90.53 points or 0.56% at 16,244.19 while the S&P CNX Nifty rose 7.65 points or 0.16% at 4887.30 on that day.
Sensex has gained 1434.7 points or 9.68% from a low of 14,809.49 on 17 March 2008. It is off 4962.58 points or 23.40% from a record high of 21206.77 hit on 10 January 2008.
As per provisional data, foreign funds sold shares worth a net Rs 49.89 crore on Wednesday, 16 April 2008. Domestic funds sold shares worth a net Rs 90.08 crore on that day. FIIs were net buyers of Rs 1,350.86 crore in the futures & options segment on Wednesday, 16 April 2008. They were net buyers of index futures to the tune of Rs 211.03 crore and bought index options worth Rs 961.82 crore. They were net buyers of stock futures to the tune of Rs 140.08 crore and bought stock options worth Rs 37.93 crore.
In the calendar year so far, FIIs sold shares worth a net Rs 11720.90 crore (till 15 April 2008), to offset their huge losses in the US sub-prime mortgage market.
A weaker dollar and a surprise drawdown in US crude inventories sent Nymex crude futures to a new intraday record of $115.07 per barrel.