Friday, August 26, 2011
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European Market Update : FTSE down 0.33%, DAx down 0.57% and CAC down 0.5%
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Market Commentary
Indian
markets succumbed to a late selloff on Thursday despite positive cues
from overseas markets. The Nifty closed below 4850 on F&O expiry
day. The fall in August F&O series is said to be the worst in three
years.
So
will things improve from here on or are we headed for lower levels on
the key indices? It’s a tough call to make having seen the deep cuts of
August.
FIIs
too don’t seem to be in great mood right now. Monsoon has been okay,
but not completely satisfactory. Then there is the Lokpal Bill impasse
and threat of at least another rate hike from the RBI.
The
start looks to be rather subdued as Asian markets are lacklustre. US
and European stocks suffered a rare bad day this week on Thursday.
Markets are waiting with bated breadth as to what Mr. Bernanke will say
at Friday’s Jackson Hole meet.
Tree House Education IPO
Listing Today (BSE Code : 533540)
Bond Issue
IIFL Bond
listed at 8 % Discount on 24th Aug. 2011
Manappuram
NCDs Issue got Rs. 560 Cr. On 23rd Aug 2011
Muthoot Finance NCDs Issue got Rs. 600 Cr. On 23rd Aug 2011
Heavy rush to withdraw Bond applications of manappuram &
Muthoot Finance
From Investor due to fear of discount listing
T. D. Power Systems
Ltd. IPO 2nd Day subscribed 0.88 (average)
SRS Ltd. IPO
3rd Day Subscribed 0.74 (Average)
For
Further information scroll to primary market
Thursday, August 25, 2011
FTSE index up 0.8%, CAC index up 1.2%, DAX index up 1%
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Join profit making community...Today!"
Market Commentary
There
is no end in sight to the current political standoff over the Lokpal
Bill. Anna Hazare’s health seems to be deteriorating as well. No one is
willing to give an inch. So, the impasse may persist till there is a
meeting of the minds on the anti-corruption bill.
The
opening today is likely to be a bright one, with most world markets on a
firm footing. US stock benchmarks closed up for a third successive day.
Their European counterparts did even better. Most Asian equity indices
are up as well.
But,
don’t take anything for granted as today is F&O expiry and there
may be a few wild swings. For the Nifty, the key support in the
immediate future is 4850. On the other hand, 5200 could be a major
resistance.
FIIs continue to be net sellers in the cash segment while the DIIs are net buyers.
Meanwhile,
gold has lost some of its shine, and the CME has hiked margins again.
Markets are keen to hear out Fed chairman Ben Bernanke on Friday. Some
expect him to announce a QE3, but whether Bernanke will oblige or not is
a mystery for now.
Bond Issue
IIFL Bond
listed at 8 % Discount on 24th Aug. 2011
Manappuram
NCDs Issue got Rs. 560 Cr. On 23rd Aug 2011
Muthoot Finance NCDs Issue got Rs. 600 Cr. On 23rd Aug 2011
Heavy rush to withdraw Bond applications of manappuram &
Muthoot Finance
From Investor due to fear of discount listing
T. D. Power Systems
Ltd. IPO 1st Day subscribed 0.50 (average)
SRS Ltd. IPO
2nd Day Subscribed 0.54 (Average)
For
Further information scroll to primary market
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