desidata
04-12-2007, 10:19 AM
The market is expected to stay sideways on mixed global cues. It is likely to consolidate at higher levels in absence of major positive trigger, before making any fresh upmove. Spells of volatile movements may been seen in the coming day.
Global events like European Central Bank’s and Bank of England’s meeting on 6 December 2007 to consider interest rates decisions and the US Federal Reserve’s meet on 11 December 2007 will dictate the near term trend. The Fed is likely to reduce Fed funds rate by 25 basis points down to 4.25% in its meeting as the country's economy is slowing down and money markets are strained. It has already cut the Fed funds rate two times in the last three months.
Asian markets were mixed today, 4 December 2007. Hang Seng (up 0.38% at 28,766.94), Taiwan's Taiwan Weighted (up 0.25% at 8,605.510), South Korea's Seoul Composite (up 0.53% at 1,912.52) and Singapore's Straits Times (up 0.29% to 3,531.82) edged higher. However, Japan's Nikkei slipped 0.50% at 15,550.28
US markets ended lower on profit booking on Monday, 3 December 2007. The Dow Jones industrial average slipped 57.15 points to 13,314.57. Broader stock indicators also settled lower. The S&P 500 index declined 8.72 points or 0.59% to 1,472.42, and the Nasdaq Composite index dropped 23.83 points or 0.90% to 2,637.13.
The 30-share BSE Sensex rose 240.22 points or 1.24% to 19,603.41, on Monday, 3 December 2007. The broader based S&P CNX Nifty advanced 102.25 points or 1.77% to 5865 on that day.
As per provisional data, foreign institutional investors (FIIs) sold shares worth a net Rs 39.25 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 449.51 crore on Monday, 3 December 2007.
FIIs were net sellers to the tune of Rs 230.08 crore in the futures & options segment on Monday. According to data released by the NSE, FIIs were net buyers of index futures to the tune of Rs 180.39 crore and bought index options worth Rs 449.95 crore. They were net sellers of stock futures to the tune of Rs 851.90 crore and sold stock options worth Rs 8.52 crore.
Oil rose on Tuesday, 4 December 2007 following signs that Organization of the Petroleum Exporting Countries (OPEC) will probably resist consumer nations' calls to pump more oil. US crude rose 34 cents a barrel to $89.65. London Brent crude was up 24 cents at $90.04.
Global events like European Central Bank’s and Bank of England’s meeting on 6 December 2007 to consider interest rates decisions and the US Federal Reserve’s meet on 11 December 2007 will dictate the near term trend. The Fed is likely to reduce Fed funds rate by 25 basis points down to 4.25% in its meeting as the country's economy is slowing down and money markets are strained. It has already cut the Fed funds rate two times in the last three months.
Asian markets were mixed today, 4 December 2007. Hang Seng (up 0.38% at 28,766.94), Taiwan's Taiwan Weighted (up 0.25% at 8,605.510), South Korea's Seoul Composite (up 0.53% at 1,912.52) and Singapore's Straits Times (up 0.29% to 3,531.82) edged higher. However, Japan's Nikkei slipped 0.50% at 15,550.28
US markets ended lower on profit booking on Monday, 3 December 2007. The Dow Jones industrial average slipped 57.15 points to 13,314.57. Broader stock indicators also settled lower. The S&P 500 index declined 8.72 points or 0.59% to 1,472.42, and the Nasdaq Composite index dropped 23.83 points or 0.90% to 2,637.13.
The 30-share BSE Sensex rose 240.22 points or 1.24% to 19,603.41, on Monday, 3 December 2007. The broader based S&P CNX Nifty advanced 102.25 points or 1.77% to 5865 on that day.
As per provisional data, foreign institutional investors (FIIs) sold shares worth a net Rs 39.25 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 449.51 crore on Monday, 3 December 2007.
FIIs were net sellers to the tune of Rs 230.08 crore in the futures & options segment on Monday. According to data released by the NSE, FIIs were net buyers of index futures to the tune of Rs 180.39 crore and bought index options worth Rs 449.95 crore. They were net sellers of stock futures to the tune of Rs 851.90 crore and sold stock options worth Rs 8.52 crore.
Oil rose on Tuesday, 4 December 2007 following signs that Organization of the Petroleum Exporting Countries (OPEC) will probably resist consumer nations' calls to pump more oil. US crude rose 34 cents a barrel to $89.65. London Brent crude was up 24 cents at $90.04.