11 Feb 2008
All eyes on RPOWER. 5000 of Nifty is crucial.
After the record public issue, Reliance Power is going to be listed today. All are watching with anxiety on the price of listing. When the issue starts, it was expected that 900 may be the listed price. But now the speculation in grey market points to a 550-650 range of listing. The performance of RPOWER will influence in the secondary market today. It will be an indicative for the investor's confidence.
Nifty levels of 5000, 5100 are very important. 5100 was broken yesterday but managed to close above that level. Below 5000 level, we can see some panic and unwinding of long positions from medium term investors. So, 5000 must be protected at any cost...
US markets ended mixed on Friday. Dow jones were down by 64 points while Nasdaq gained 11 points. Asian peers are in red. Nikkei -189, Hangseng -210. Global cues are not supporting much for bulls.
The selling pressure from FIIs are continuing. They were net sellers on Cash segment 797 crores when DII's net buying was for 192 crores.
Market breadth was weak. NSE Advances:Declines were 180:1000
Mixed closing of Indian ADRs at NYSE. Technology stocks outperformed.
Archives:
All eyes on RPOWER. 5000 of Nifty is crucial.
After the record public issue, Reliance Power is going to be listed today. All are watching with anxiety on the price of listing. When the issue starts, it was expected that 900 may be the listed price. But now the speculation in grey market points to a 550-650 range of listing. The performance of RPOWER will influence in the secondary market today. It will be an indicative for the investor's confidence.
Nifty levels of 5000, 5100 are very important. 5100 was broken yesterday but managed to close above that level. Below 5000 level, we can see some panic and unwinding of long positions from medium term investors. So, 5000 must be protected at any cost...
US markets ended mixed on Friday. Dow jones were down by 64 points while Nasdaq gained 11 points. Asian peers are in red. Nikkei -189, Hangseng -210. Global cues are not supporting much for bulls.
The selling pressure from FIIs are continuing. They were net sellers on Cash segment 797 crores when DII's net buying was for 192 crores.
Market breadth was weak. NSE Advances:Declines were 180:1000
Nifty February 2008 futures were at 5070, at a sharp discount of 50.35 points as compared to spot closing of 5120.35
The NSE futures & options (F&O) segment turnover declined to Rs 39421.27 crore, as compared to Rs 40921.83 crore on Thursday, 7 February 2008.
A sharp increase in crude price at NYMEX. $ 91.8 a barrel.Mixed closing of Indian ADRs at NYSE. Technology stocks outperformed.
Archives: