The Hindu Business Line : Aftershocks on Monday?

Wall Street closed down on Friday. Khan was betting that the Sensex might follow it Dakshinamoorthy was of the opinion tha apart from selective auto and pharma stocks, there was anything to cheer up traders, or investors in the Budget.”Global events to rule the roost now,” Sridevi added. What does Jogin feel? Listen to him on Mkt Chat…

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Jog: Monday we r going down baby!

Sri: Gap down likely but…

Jog: Surely, sum sector-specific action cant help!

Kay: Plus we have the Sun Outage thing.

Jog: Heyaaa…March 4 to March 18…

Dax: Its bad thing to start off.

Jog: But we cud have intra-day reversals too

Sri: I am not sure dat FIIs are goin 2 resume buying

Kay: We can buy some retail, pvt banks, FMCG stocks.

Sri: Budget-consumption story. But wait till Tuesday.

Jog: On the other hand…

Dax: Wat? Any positive news???

Jog: Budget on expected lines so it might nt b dat bad.

Sri: One place nt to trade is Banks. They r so goin down!

Jog: Sm 1 said real impact on banks is just rs 10k cr.

Dax: Nt Rs 60k cr ???

Kay: Cud b. Bt al dis Gvt money/bonds will cum in 3yrs.

Sri: Who wud wait dat long. But NPAs wud improve

Jog: Reimbursements thru bank bonds from Jan 1 is +ve!

Dax: Major issue for mkts wud be STT tinkering.

Kay: Da issue of treating STT…

Dax: As biz expenditure nt as tax credit: -ve!

Sri: Unless 1 has good view of budget impact

Dax: The reverse mortagage is gud one. Stks may run up

Jog: Hv a feeling small cos in pharma will find buyers.

Sri: Anything on auto? Apart from Tata, Maruti

Kay: Gud time to look at solid auto ancillaries too

Dax: Bt the tobacco thing was bad for ITC.

Sri: FM nt a good Robinhood for all.

Jog: Especailly cigarettes

Dax: Cement sector is alo neutral.

Sri: Textiles stocks. Anybody see +ves?

Kay: No. Oil touched $103. Refiners may do well huh?

Sri: I m gonna look freshly at Apollo, Fortis on Monday.

Jog: Only tax-holiday.

Dax: The best wud have been Wockhardt Hospitals

Kay: But IPO was bust.Lot of hospitals in Tier II/III

Sri: The big IT stks will perhaps bear the rundown.

Kay: Bt small ones? I am jittery abt dem

Jog: FM may give STPI if Congress cums bk in 09

Kay: All makings for a choppy 3rd March ehh?

Dax: Anyone havin view of FIIs?

Jog: Hrd sum of dem on Tv. Saying balanced budget

Sri: Wats local money doin? Sitting on cash?

Kay: Can happen. Might follow FIIs if they buy again

Jog: Good. Any change in sentiment then? No…

Dax: Do kindly look at IT education counters. Sum axn

Kay: Sum look at irrigation counters…

Jog: Seed cos had sum R&D deduction +ve

Sri: Deft budget by FM. Hope stk mkt is less harsh

Kay: Sht term capital gains tax @15% is gonna hurt

Jog: As I see it, lots of volatility.

Dax: Keep ur thinkin caps on if mkts go dwn

Sri: Will. Bt will brokers let us buy?

Kay: Aftershocks on Monday den (signs off)

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Kum with inputs from Bad, and Lee

Blog at http://MarketChat.blogspot.com