Pre Session : Indian markets may open in green on some positive global cues Analysis for Feb 08, 2012

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On the global front Indian markets are getting positive cues. Most of the Asian markets have opened in green on positive cues from the US markets and mixed cues from the European ones. The US markets managed to end in green yesterday in spite of the continuing anxiety over Greece. There was no major economic data on the domestic front that could further propel the markets. The European Markets ended on a mixed note yesterday. The markets seem to be waiting to see how the Greek debt crisis unravels. Rumors regarding a forthcoming agreement among Greece"s politicians on the austerity measures continue to permeate trade.

Sentiments in the Indian markets have been depressed by the lowered GDP growth forecast of 6.9 % for 2011-12. The earnings result of Mahindra & Mahindra disappointed the markets and it may have some adverse impact on the stocks of the company and its peers in the automobile sector. The decision to allow ATF imports directly by aviation companies gave some hopes to the sector. However their stocks may see some selling today on account of profit booking. It is still not clear which way the Indian markets will turn today after the GDP growth disappointment of yesterday.

Yesterday the BSE SENSEX closed at 17622.45 down by 84.86 points or by 0.48 % and the NSE Nifty ended at 5335.15 down by 26.5 points or by 0.49 %. The BSE MIDCAP closed at 6073.11 down by 49.46 points or by 0.81 %, while the BSE SMLCAP ended at 6751.98 down by 29.95 points or by 0.44 %.The BSE Sensex touched intraday high of 17832.04 and intraday low of 17582.49 The NSE Nifty touched intraday high of 5413.35 and intraday low of 5322.95.

The net investments by FIIs on 7th February, 2012 in Indian capital markets stood at Rs 971.00 crore. The net FII investments were positive yesterday.

The gross purchases by FIIs in the Indian equity markets were of Rs. 3509.80 crore. The gross sales were of Rs. 2405.50 crore. The net investment in the equity markets by FIIs on February 7th , 2012 stood at Rs 1104.30 crore.

The gross purchases by the FIIs in the Indian debt markets were of Rs 785.50 crore. The gross sales by FIIs were of Rs 918.80 crore. The net investment by the FIIs in the debt markets stood at Rs - 133.30 crore.

Today, most of the Asian markets have opened in green on positive cues from the US markets and mixed cues from the European ones. At 7.40 A.M. Indian time, the Nikkei 225 was up 61.61 points and was at 8,979.13 . The Hang Seng was up 118.79 points and was at 20,818.06. The Shanghai composite was up 2.40 points and was at 2,294.30.

The US markets managed to end in green yesterday in spite of the continuing anxiety over Greece. There was no major economic data on the domestic front that could further propel the markets. The Nasdaq closed at 2904.08, gaining 2.09 points over the previous day"s closing. The Dow Jones Industrial gained 33.07 points and closed at 12878.2. The S & P 500 gained 2.72 points and closed at 1347.05.

The European Markets ended on a mixed note yesterday.The markets seem to be waiting to see how the Greek debt crisis unravels. Rumors regarding a forthcoming agreement among Greece"s politicians on the austerity measures continue to permeate trade. The DAX lost 10.63 points and closed at 6,754.20. The FTSE 100 lost 1.94 points and closed at 5,890.26. The CAC was up by 6.27 points and closed at 3,411.54.

Gold futures ended higher by 0.5 % to close at $ 1748.60 per ounce, while silver prices gained 1.5% and closed at $ 34.24 per ounce. Crude oil gained 1.5 % to close at $ 98.54 per barrel.

Read more about: nse, bse
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