Financial Daily from THE HINDU group of publications
Monday, May 22, 2006
Financial Daily from THE HINDU group of publications Monday, May 22, 2006 |
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Stock Markets Markets - Outlook Columns - Chat
Jogin was tossing a coin `to check' which way the markets would move on Monday. Sridevi was studying the details of Euronext-NYSE merger. Dakshinamoorthy was painting his old cycle `red'... Till Khan summoned them all for the weekly market chat. Follow the pack! Kay: Hi, are you all there! Global opening crucial today! Sri: Margin pressure on brokers yet to recede. Jog: Settlement week for F&O to swing the market wilder! Dax: Implied volatilities of Nifty options are at high levels. Kay: Calls over 100% Nifty's annualised volatility at 96% Sri: Metals lost further ground on LME. Caution! Jog: In the metal counters and precious metal futures. Dax: Long positions down, as speculators began to exit. Kay: Big brokers insist on 50% margin. Today's call... Dax: ... may pull down market further. To cover margin... Jog: ... people may sell stocks that haven't corrected much. Dax: Refusal of some brokerage houses to give exposure to clients was a blessing in disguise, in the volatile market. Kay: Dow and Nasdaq improved marginally, clues missing! Sri: Adani Exports may buck the general bearish trend. Significant orders to export chickpeas to Pakistan. Dax: Sourced its needs competitively. Rice export too! Jog: Many stocks tempting enough to press the `buy' button. Dax: Such as Hindalco, with an immediate target of 210? Jog: EID Parry firm amidst the rubble. 330? If fall stops... Kay: Check frontline IT stocks: Satyam and HCL Tech. Sri: Ansal Infra and Unitech made a 5% gain last Monday. Dax: BSEL Infra earned more than 1% that day. Jog: Watching strong stocks that lost more than 20% Dax: India Cem 22% Essar 25% Jindal 23% Hind Zinc 23% Jog: Suzlon 23%, ABB 19%, MRPL 19%, Rel Petro 13%. Sri: In pharma, Orchid 28% and GSK 22% Shipping? Kay: Bharati Shipyard, ABG Shipyard likely to rule firm. Dax: Fiscal concessions extended for further 5 years. Jog: Indoco Remedies to rule firm on news flow of merger. Dax: SBI weak results put pressure on banks also. Kay: An accumulation candidate. Jog: Top bank, with assets growing here and abroad. Sri: SAIL, like all metal stocks, dropping swiftly! Dax: Like a rock from outer space! Jog: Will the latest metal meltdown wreck further havoc? Dax: "Bright metal on a sullen ground," King Henry IV! Kay: Downward movement may continue, say traders. Jog: Investors who'd entered the stock in the Rs 50-60 range may feel the need to take whatever profit they can! Sri: Eveready has potential real estate play. Jog: Looking at how to unlock value in land! Dax: Will the stock go the Bata way? Kay: Eveready had not long ago crossed Rs 140. Sri: Bumper coffee crop awaited in Brazil and Vietnam! Dax: Working in favour of roasters. Sri: Track Tata Coffee and Bombay Burmah. Jog: As global prices appear to be on a downward trend. Kay: Tea production in Kenya has recovered due to rains. Sri: Prices firm. Tea stocks can be hit in a bearish phase. Dax: `Churlish as the bear, slow as the elephant.' Kay: As in Troilus and Cressida! Bye. Lee with inputs from Nat, Sve, Ala, Bad, The, Sub, Nil, Sur and Bij.
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