13 May 2008, 9.00 am
Markets to recover more
As we posted yesterday market have done a good short covering after finding a support above 4900. Today the process of recovery may continue. The immediate target for Nifty is at 5080, after breaking 5050. The support is expected at 4980 and 4920.
Wall street recovered 130 points in Dow Jones. Asian markets are tracking U.S. cue. Nikkei is in gain of 88 points in morning session. Hangseng is trading flat.
Markets to recover more
As we posted yesterday market have done a good short covering after finding a support above 4900. Today the process of recovery may continue. The immediate target for Nifty is at 5080, after breaking 5050. The support is expected at 4980 and 4920.
Wall street recovered 130 points in Dow Jones. Asian markets are tracking U.S. cue. Nikkei is in gain of 88 points in morning session. Hangseng is trading flat.
Nifty May 2008 futures were at 5026.90, at a premium of 14.25 points as compared to spot closing of 5012.65.
The NSE's futures & options (F&O) segment turnover was Rs 41000.80 crore, which was higher than Rs 34951 crore on Friday, 9 May 2008.
Market breadth is remaining negative at NSE. Advances : Declines was 336:863
FIIs were net sellers for 210 crores in capital segment, according to provisional data from NSE.
Some profit taking in crude oil . $ 124.5 a barrel.
Indian ADRs closed mixed at NYSE.