Pre Session Market Analysis for Nov 11, 2011

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Pre Session Market Analysis for Nov 11, 2011
Today, the Indian markets are expected to open softly. Most of the Asian markets opened slightly in the green today. The US markets closed in the green yesterday on the back of decline in weekly unemployment claims and strong quarterly performance of companies like Cisco. Most of the European Markets ended in the red yesterday. The news of yields on Italian sovereign debt temporarily touching the above 7 per cent mark added to the panic of the European markets.

The Industrial Index Production data [IIP] of India for September will be released today. This may have some impact on the domestic markets. There is also news that the Government is considering increasing the FDI limit in single brand retail to 100 per cent from 51 per cent. This news may have a positive impact on some stocks. Tata Steel reported disappointing results yesterday. This may have some negative overhang today. The good news is that Standard & Poor"s has differed from Moody"s and has upgraded Indian banks to group 5 from group 4. This is expected to have a positive impact on banking sector stocks which had pulled down the market on Thursday after news of the Moody"s cut in outlook.

On November 9th, 2011, the BSE Sensex closed at 17,362.10, down by 207.43 points or 1.18 per cent from the previous close, while the NSE"s broad-based Nifty declined by 68.30 points or 1.29 per cent to close at 5,221.05. The BSE barometer touched an intra-day high of 17,658.34 and intra-day low of 17,331.23. The BSE Midcap finished the day at 6,232.69, down by 78.82 points or 1.25 per cent, whereas the BSE SmallCap closed at 6,872.56, reflecting a decrease of 73.49 points or 1.06 per cent.

The net FII investment in the Indian markets on November 9th, 2011 stood at Rs 957.80 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. 1702.20 crore. The gross sales were of Rs. 1198.80 crore. The net investment in the equity markets by FIIs on November 9th, 2011 stood at Rs 503.40 crore.

The gross purchases by the FIIs in the Indian debt markets were of Rs 847.60 crore. The gross sales by FIIs were of Rs 393.20 crore. The net investment by the FIIs in the debt markets stood at Rs 454.40 crore.

Today, the Asian markets have opened in the green except the Nikkei. At 7.40 A.M. Indian time, the Nikkei 225 was down 8.98 points and was at 8491.49. The Hang Seng was up 105.15 points and was at 19068.31. The Taiwan weighted up 19.79 points and was at 7326.69. The Shanghai composite was up 3.61 points and was at 2483.15.

On Thursday, November 10th, 2011 the US markets closed in the green. The Nasdaq closed at 2623.61, gaining 1.96 points over the previous day"s closing. The US markets, especially the Nasdaq, were moved by the strong performance reported by Cisco. Weekly jobless claims data also brought some relief to the markets. Weekly jobless claims fell below 400,000. The yield on Italy"s debt lowered after touching briefly the unsustainable 7.3 per cent market. Lucas Papademos, former Vice-President of the European Central Bank, is the new Greek Prime Minister and he is expected to handle the crisis better than his predecessor.

The Dow Jones Industrial gained 112.85 points and closed at 11893.79. The S & P 500 gained 10.59 points and closed at 1239.69. The New York Stock Exchange composite (NYA) gained 70.23 points and closed at 7423.68.

Most of the European Markets ended in the red yesterday. The news of yields on Italian sovereign debt temporarily touching the above 7 per cent mark added to the panic of the markets. The DAX gained 38.27 points and closed at 5867.81. The FTSE 100 lost 15.56 points and closed at 5444.82. The ATX was down 48.00 points and closed at 1875.00 .

Gold prices ended lower by 1.8 per cent to settle at $1759.80 per ounce, while silver prices were down 0.7 per cent and closed at $34.11 per ounce. Crude oil gained 2.1 per cent to close at $97.78 per barrel.

Dion Global Solutions Ltd

Read more about: bse, nse, market, europe, italy, fdi, fii
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