Pre Session Market Analysis for Nov 09, 2011

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Pre Session Market Analysis for Nov 09, 2011
Today, on November 9th, 2011 the Indian domestic markets are expected to be bogged down by the disappointing economic data.

The trade deficit in October has increased to a four year high of $ 19.6 billion in October. Export growth has come down to 10.8 per cent while import growth remained at 21.7 per cent.

In spite of slightly positive global cues because of the news of Berlusconi"s resignation and the passage of the budgetary cuts in the Italian parliament, domestic factors are expected to dominate the Indian markets today. As the day will progress quarterly results announcements by companies like SBI and Ranbaxy will influence the market.

Yesterday on November 8th, 2011, the BSE Sensex closed at 17569.53, up by 6.92 points or 0.04 per cent from the previous close, while the NSE"s broad-based Nifty advanced by 5.15 points or 0.10 per cent to close at 5,289.35. The BSE barometer touched an intra-day high of 17,632.23 and intra-day low of 17,455.22. The BSE Midcap finished the day at 6,311.51, up by 13.12 points or 0.21 per cent, whereas the BSE Small Cap closed at 6,946.05, reflecting a decrease of 12.08 points or 0.17 per cent.

The net FII investment in the Indian markets on November 8th, 2011 stood at Rs 1103.40 crore. The net inflows by FIIs were positive on this day.

The gross purchases by the FIIs in the Indian equity markets were of Rs. 2268.80 crore. The gross sales were of Rs. 2052.80 crore. The net investment in the equity markets by FIIs on November 8th, 2011 stood at Rs 215.90 crore. The gross purchases by the FIIs in the Indian debt markets were of Rs 2620.80 crore. The gross sales by FIIs were of Rs 1733.30 crore. The net investment by the FIIs in the debt markets stood at Rs 887.50 crore.

Today, on November 9th, 2011 the Asian markets have opened in the green. At 7.40 A.M. Indian time, the Nikkei 225 was up 80.94 points and was at 8736.45. The Hang Seng was down 400.38 points and was at 20076.31. The Taiwan weighted up 23.66 points and was at 7623.74. The Shanghai composite was up 8.77 points and was at 2512.61.

On Tuesday, November 8th, 2011 the US markets closed in the green. The Nasdaq closed at 2727.49, gaining 32.24 points over the previous day"s closing. The Italian parliament passed the budgetary cuts and Italian Prime Minister Silvio Berlusconi has agreed to step down. The US markets didn"t respond as positively to this news as the Italian markets. There was positive news on the labor front. According to the US labor department employers advertised more jobs in September than at any time in the last three years.

The Dow Jones Industrial gained 101.79 points and closed at 12170.18. The S & P 500 gained 14.80 points and closed at 1275.92. The New York Stock Exchange composite (NYA) gained 81.48 points and closed at 7671.91.

The European Markets ended in the green on the back of the news of Berlusconi"s resignation and the passage of the budgetary cuts in the Italian parliament. The DAX gained 32.76 points and closed at 5961.44. The FTSE 100 gained 56.52 points and closed at 5567.34. The ATX was up 32.30 points and closed at 1999.00 .

Gold prices ended higher by 0.4 per cent to settle at $1799.20 per ounce, while silver prices were up 0.9 per cent and closed at $35.15 per ounce. Crude oil gained 1.3 per cent to close at $96.80 per barrel.

On the back of the news from Italy the Euro jumped against the dollar and gained 0.6 per cent to close at $ 1.384

Read more about: bse, nse, trade, export, import, economic
Story first published: Wednesday, November 9, 2011, 9:20 [IST]
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