Indian shares are expected to open lower tracking weakAsian and Us markets. Sentiments are low on high oil pricesand fears of US recession.
The Sensex has support at 17,400-17,150 and resistance at17,600. The Nifty has support at 5,120-5,050 and resistanceat 5,320.
FII's were net buyers of Rs 56.70 crore while mutual fundswere net sellers of Rs 191.30 crore.
Asian markets opened negative tracking weak US cues. TheHang Seng plunged 442 points to 23,181, while the Nikkeished 264 points at 13,424. The Shanghai Composite index isdown 85 points at 4,442..
U.S. stocks fell more than 1% on Thursday as bulging oilinventories deflated energy shares and the weakest readingon mid-Atlantic manufacturing since 2001 added evidencethe economy was in recession. The Dow Jones industrialaverage tumbled 142.96 points (1.15%) to end at 12,284.30.The S&P's 500 Index slid 17.50 points (1.29%) to 1,342.53.The Nasdaq Composite Index lost 27.32 points (1.17%) to2,299.78.
Companies in the news:
Larsen and Toubro, AlstomProjects, Simplex Infrastructures, Bharat Forge
Market Outlook
Key Positives
Key Negatives
Expected to open lowerFII inflowsHigh oil prices, Mutual fund outflows
MARKET OUTLOOK
Indices CloseChange % change
BSE Sensex 17,734.68 117.08 0.66CNX S&P Nifty 5,191.80 37.35 0.72BSE 100 9,425.64 51.85 0.55BSE 500 7,121.15 46.85 0.66Dow Jones 12284.30 -142.96 -1.15Nasdaq 2299.78 -27.32 -1.17Hang Seng 23202.24 -420.76 -1.78Nikkei 13423.94 -264.34 -1.93
Opening Bell
Company Price Change % change
MAHANAGAR TEL 6.00 -0.27 -4.31ICICI BANK LTD 56.47 -1.85 -3.17HDFC BK LTD 114.48 -2.50 -2.14SATYAM COMPUTER 26.09 -0.30 -1.14DR REDDYS LABS 13.76 -0.10 -0.72TATA MOTORS LTD 17.86 -0.13 -0.72INFOSY TECH ADR 41.70 0.46 1.12WIPRO LTD 11.75 0.16 1.38VIDESH SANCHAR N/A N/A N/A
Pick of the week
Stock Reco price CMP Target price Profit / loss %
Gail 401 401 481 0%
Advances Declines Unchanged Total
BSE 1459 125173 2783NSE 705 47426 1205
Institutional activity FIIs (Cash) MFs
Net flows (Rs crore) 56.70 -191.30
Sensex movement for the week
Friday, February 22, 2008
Stocks inside
Stock Reco price Target price Profit / loss %
Shri Lakshmi Cotsyn 147 UNRATED -
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