10-year yield seen between 7-7.25%: Sundaram BNP Paribas
March 31st, 2009
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Archive for March, 2009
Nifty likely to remain ranged between 2760-3150:Choksey
March 31st, 2009
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Here are some expert equity calls for the day on how the markets are expected to trade:
Deven Choksey, KR Choksey Securities: The market should see a recovery either by day-end or tomorrow led by banking, RIL and Infosys. The Nifty is likely to remain ranged between 2760-3150.
PN Vijay, Portfolio Manager: The market should recover some of yesterday’s lost grounds after the pullback in Asia. Banks and commodity stocks should do well.
Sensex to eventually break 8000: Ramesh Damani
March 31st, 2009
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Ramesh Damani, Member of the Bombay Stock Exchange (BSE) feels that the markets will spend some time at the higher end of the range as bear confidence is at a historic high. However, possibility of the market hitting new lows cannot be ruled out, he rues. “But this won’t happen in a hurry,” Damani said. The Sensex, according to him, will eventually break 8,000.
Talking about the impact elections might have on the market, Damani said, the markets could remain volatile during elections and he expects uncertainty two weeks prior and post elections.
However, Damani does not see a bull market for the next five years and expects contraction of economic activity.
Expect rupee to be weak: Verity Analytics
March 31st, 2009
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On Monday, the spot rupee ended lower at Rs 51.17 per USD as against its previous close of Rs 50.57 USD.
According to Vikram Nanivadekar, Verity Analytics, the rupee is expected to be weak. Traders will however keep a close watch on Asian markets. The range for the day is seen between Rs 51.10-51.35 per dollar.
Banks, commodity stocks should do well: PN Vijay
March 31st, 2009
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PN Vijay, Portfolio Manager: The market should recover some of yesterday’s lost grounds after the pullback in Asia. Banks and commodity stocks should do well.
Deven Choksey, KR Choksey Securities: The market should see a recovery either by day-end or tomorrow led by banking, RIL and Infosys. The Nifty is likely to remain ranged between 2760-3150.
Fund Action witnessed in Alok Ind, Brandhouse Retails
March 31st, 2009
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Crude tumbles to settle below $49/bbl on weak economy
March 31st, 2009
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Support for Nifty at 2900: Gaba
March 31st, 2009
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BSE Sensex (9568): We said that ‘I would be cautious’ and the market tanked. The market was technically over stretched and so a reaction was due and it came in. Technically the market has given a sell signal and now if the market breaches 9520 then we should see a level of 9332.
The support for the Sensex is 9332 and the resistance to the up move is at 9900.
Nifty (2978): The support for the Nifty is at 2900 and the resistance to the up move is at 3050.
Expect flat to positive opening: Gujral
March 31st, 2009
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3i Infotech to expand reach in domestic market
March 31st, 2009
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3i Infotech plans to expand its reach in the domestic market by targeting newer verticals — utilities and infrastructure — using the technology platform that came with the acquisition of the US-based Regulus Group.
Mr Anirudh Prabhakaran, Executive Director and President of South Asia business for 3i Infotech, said the company was in talks with several power and telecom companies to offer bill generation and printing services.
The company sees huge potential for document processing in the Indian market that’s characterised by large volumes, he said.