Pre Session : Indian markets to begin the day on strong negative cues from foreign markets Analysis for Mar 07, 2012

Posted By: Religare
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Indian markets are getting negative cues from the foreign markets today. All the major Asian markets have opened in red on negative overnight cues from the European and US markets. Hong Kong"s Hang Seng index, after its big decline of yesterday is once again on the downward path today. The US markets ended in red yesterday. There was no major news or economic data that could provide support to the markets. The European Markets ended in red yesterday. The March 8th deadline for the private creditors of Greece to accept the new debt deal is nearing. The markets are concerned about whether at least 75 per cent of them will support it, which is the minimum threshold required for the passage of the deal. Greek Finance Minister has gone to the extent of saying that the country may force its private creditors into accepting the deal.

Oil prices are showing signs of easing and this is a relief for Indian markets. The markets may recover from the disappointment of the election results and may recoup some of the losses of yesterday. However markets will remain nervous till the Union Budget comes out on March 16th.

Yesterday, the BSE SENSEX closed at 17173.29 down by 189.58 points or 1.09 % and the NSE Nifty closed at 5222.4 down by 57.95 points or by 1.1 %. The BSE MIDCAP was at 6201.47 down by 69.7 points or 1.11 %. while the BSE SMLCAP was at 6700.19 down by 87.51 points or by 1.29 %. The BSE Sensex touched intraday high of 17691.96 and intraday low of 17128.28 The NSE Nifty touched intraday high of 5382.05 and intraday low of 5206.4. The top gainers of the BSE Sensex pack were DLF Ltd. (Rs. 197.45,+2.73%), ITC Ltd. (Rs. 210.00,+1.45%), Infosys Ltd. (Rs. 2849.05,+1.41%), Maruti Suzuki India Ltd. (Rs. 1328.80,+1.01%), Coal India Ltd. (Rs. 330.20,+0.67%), among others.

The net investments by FIIs on 6th March, 2012 in Indian capital markets stood at Rs 169.40 crore. The net FII investments were positive yesterday.

The gross purchases by the FIIs in the Indian equity markets were of Rs. 1871.30 crore. The gross sales were of Rs. 1674.50 crore. The net investment in the equity markets by FIIs on March 6th , 2012 stood at Rs 196.80 crore.

The gross purchases by the FIIs in the Indian debt markets were of Rs 513.70 crore. The gross sales by FIIs were of Rs 541.20 crore. The net investment by the FIIs in the debt markets stood at Rs -27.40 crore.

Today, all the major Asian markets have opened in red on negative overnight cues from the European and US markets. Hong Kong"s Hang Seng index, after its big decline of yesterday is once again on the downward path today. At 7.40 A.M. Indian time, the Nikkei 225 was down 71.56 points and was at 9566.07. The Hang Seng was down 164.96 points and was at 20640.04. The Shanghai composite was down 6.70 points and was at 2403.74.

The US markets ended in red yesterday. There was no major news or economic data that could provide support to the markets. The Nasdaq closed at 2910.32, losing 40.16 points over the previous day"s closing. The Dow Jones Industrial lost 203.66 points and closed at 12759.15. The S & P 500 lost 20.97 points and closed at 1343.36.

The European Markets ended in red yesterday. The March 8th deadline for the private creditors of Greece to accept the new debt deal is nearing. The markets are concerned about whether at least 75 per cent of them will support it, which is the minimum threshold required for the passage of the deal. Greek Finance Minister has gone to the extent of saying that the country may force its private creditors into accepting the deal. The DAX lost 233.35 points and closed at 6,633.11. The FTSE 100 lost 109.02 points and closed at 5,765.80. The CAC was down 124.98 points and closed at 3362.56.

Read more about: bse, nse
Story first published: Wednesday, March 7, 2012, 10:20 [IST]
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