UPDATE ON THURSDAY 7 AUGUST, 2008 AT9.30 AM IST
THE STOCK MARKET ON WEDNESDAY 6 AUGUST WITNESSED SHARP PROFITBOOKING IN THE LAST HOUR OF TRADE, AND GAVE UP NEARLY 300 POINTS ON THE SENSEX. THE STARS OF THE DAY WERE THE SUGAR STOCKSALL OF WHICH POSTED HANDSOME GAINS. THE MARKET IS BULLISH ON BAJAJ HINDUSTAN AND SREE RENUKA SUGARSAT CURRENT LEVELS. BANK STOCKS PERFORMED WELL TOO , AND THE PSU BANKS LOOK ATTRACTIVE AT CURRENT VALUATIONS.
THE INFLATION FIGURES ARE EXPECTED TODAY AT 5 PM, AND ISEXPECTED AT AROUND 12.04%.
PRE OPENING CALL: SELL TATA POWER FUTURES CMP 1064, FOR SHORT TERM DELIVERY TARGET RS.1000.
THE OUTLOOK FOR TODAY IS A FLAT OPENING WITH A QUIET FIRST HALF.