Monday, August 24, 2009

World Stock Market Round Up : By Nirmal Bang


World Stock MarketsMarket Round Up- The Sensex gained 203 points and closed above the 15K mark. Positive global cues helped the markets to stay on the higher side throughout the day. The NSE Nifty went up 1.35% or 59 points to settle at 4453 after trading in the range of 4492-4394. Today's rally was led by gains in auto, banking, power and IT stocks. The market breadth was positive but the volumes were very lower.

Movers & Shakers

The BSE auto index surged 2.6 %. Maruti, M&M and Hero Honda Motors were the top gainers, up over 3.9 % each.

US stocks gain on possible AIG repayment, economic indicators


US stocks gain on possible AIG repayment, economic indicators New York - US stocks rose sharply Thursday, after ailing insurer American International Group Inc (AIG) suggested it would be repaying its government loans and economic indicators again signalled the recession is easing.

The New York-based Conference Board's index of leading economic indicators rose 0.6 per cent in July, the fourth straigh

Stronger yen drags Tokyo stocks down


Stronger yen drags Tokyo stocks down Tokyo - Tokyo stocks fell Friday as the yen's advance against the US dollar led investors to sell mainly export-oriented issues.

The benchmark Nikkei 225 Stock Average declined 133.1 points, or 1.28 per cent, to 10,250.31.

Automotive shares were among those titles that lost most ground, also affected by the early end of the US "cash for clunkers" car trade-in programme announced for August 24.

US stocks cap strong week as oil tops highest price of 2009


US stocks cap strong week as oil tops highest price of 2009 New York - US stocks rose sharply Friday, capping a positive week of economic and housing sector news, while the price of oil briefly reached a new high for the year.

The Dow Jones Industrial Average rose to its highest level of the year and the Standard and Poor's 500 Index reached its highest point since October.

Home resales surged an unexpected 7.2 per cent in July according to the National Association of Realtors, the best monthly gain in 10 years and a sign that the housing crisis which kicked off the wider recession is ending.

European stocks mark highest closing since early November


European stocks mark highest closing since early November

European Shares traded higher on Friday and managed their highest close since early November. Investor sentiment was lifted by better-than expected U.S. July existing homes sales. The major gainers were the banking stocks.

The closing of the FTSEurofirst 300 index of top European shares came at 2.3 percent at 966.87 points. It should be noted that index apart from being up about 16 percent for the year, has hiked almost 50 percent since reaching a lifetime low in early March.

Nikkei up 3 per cent on hopes of economic recovery, stable politics


Nikkei up 3 per cent on hopes of economic recovery, stable politics Tokyo - Japan's key Nikkei 225 Stock Average surged more than 3 per cent on hopes of economic recovery and political stability at home.

The Nikkei soared 3.12 per cent, or 319.13 points to 10,557.33 during morning trading.

The broader-based Topix index was also up 23.5 points, or 2.48 per cent, at 970.84.

On currency markets at 9 am (0000 GMT), the dollar traded at 94.57-62 yen, up from Friday's 5 pm quote of 93.90-93 yen.

Stock markets are under strong selling pressure: Nirmal Bang Research


Stock markets are under strong selling pressure: Nirmal Bang ResearchThe markets are giving a strong evidence of a intermediate rally if nifty maintain above 4480. As we were mentioning that 4580 is the level to be watched carefully as markets have corrected very sharply from that point. The outlook still remains cautious as the markets have once again given a breakout on the higher side. Now going forward its necessary that nifty maintains above the 4600 level for some time and consolidates before heading for a of 4880.

STOCK IDEA:

BHEL : (2301) Buy with a stop loss of 2248 for a target of 2375

 

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