14 May 2008, 8.00 am
4900 is crucial
It was a very disappointing day for indices. Nifty could not sustain above 5050, then fell down to find a support. The expected level 4980 is broken. Now we are looking to 4900 as a key level to decide the further direction. The broad market may consolidate with a negative bias.
US indices corrected a bit. Dow jones was down by 44 points. Asian markets are trading weak. Nikkei is flat while Hangseng has lost hundred and more in open trade.
Crude oil price at NYMEX is booming, hit $126.5 a barrel
Almost all Indian ADRs closed in red at NYSE.
4900 is crucial
It was a very disappointing day for indices. Nifty could not sustain above 5050, then fell down to find a support. The expected level 4980 is broken. Now we are looking to 4900 as a key level to decide the further direction. The broad market may consolidate with a negative bias.
US indices corrected a bit. Dow jones was down by 44 points. Asian markets are trading weak. Nikkei is flat while Hangseng has lost hundred and more in open trade.
Nifty May 2008 futures were at 4954, at a discount of 3.80 points as compared to spot closing of 4957.80.
The NSE's futures & options (F&O) segment turnover was Rs 38107.72 crore, which was lower than Rs 41000.80 crore on Monday, 12 May 2008.
Market breadth was slightly positive in weak market. 607:582 (NSE)
Both FIIs and DIIs were buyers on Tuesday.Crude oil price at NYMEX is booming, hit $126.5 a barrel
Almost all Indian ADRs closed in red at NYSE.