Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: cpt :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: TDS :: VAT Audit :: empanelment :: due date for vat payment :: form 3cd
« Markets »
 Why we must tweak the market-led model
 PE transactions prompt income tax queries over round tripping concerns
 Amended India-Mauritius tax treaty only covers investments in shares
 Government drops cap gains tax on startup shares held for 2 years
 Tax-free bonds regain demand in the secondary market
 Relevant Market’ Under Competition Act, 2002
 Indian markets best in terms of earnings momentum, price revision
 How India will become a common market with GST
 Broader markets outperform; Nifty holds 8,500
 Have Indian markets run ahead of fundamentals?
 Sebi mulls allowing foreign VCs in infra investment firms

Experts see mkts trading flat ahead
February, 25th 2010

It was another flat day for markets. Today's Railway Budget was on very positive lines but with no major changes that would to impact equity markets. Benchmark indices ended in flat territory for the thrid day in a row.

Autos saw another week session. Stocks like M&M, Tata Motors ahead of its numbers on Friday, and Hero Honda were down 1-3%. These stocks are down 10% in the last one week.

Railway stocks saw big profit booking as they had run up quite a bit in last one week. Stocks like Titagarh Wagons, Kalindee Rail, and Texmaco are down 3-7%. 

Volumes were high one day before F&O expiry, at one lakh crore. The market breadth ended up quite weak at 1: 3 in favour of declines.

So, how are markets likely to trade ahead of Budget?

Gautam Vora of ULJK Securities expects markets to trade flat until the Budget, until there is more direction. "The Nifty has been trading in a 40-50 point zone over the last few days. Most institutions are not taking direction bets right before the Budget. Most people are sitting on the sidelines and just waiting for this Budget to pass. Hence, it is going to be flat. We will start getting some direction on the market once the Budget comes out.

From a technical perspective, there is a strong support at 4,800. If it breaks that, there is support at 4,716 which is now the 200 DMA. As far as resistance levels are concerned, 4,950 is a huge resistance. Once it crosses that level, you can look at 5,050 as the next level of upside."

Seconding Vora, Deven Choksey of KR Choksey Securities feels investors are extremely cautious. "Investors are scared. Even institutional players are not finding comfort with this particular market. Even though everybody is convinced about valuations in the next twelve months or so, not a single guy is talking with confidence that they see liquidity coming back in next two-three months. Everybody is skeptical about that. So, sentiment is taking its toll. As a result, the kind of activity which should take place in the market is not happening."

Amit Khurana of Mangal Keshav Securities too feels markets are currently waiting for the Budget to be out of the way before deciding its future course. "The markets expect a clear-cut roadmap on acceleration towards the gross domestic product (GDP) growth rate, what sort of spending would they like to do on infrastructure and how would they go about it.

Second, investors are looking at the process towards fiscal consolidation and what sort of measures would the government need to take on that could impact a lot of sectors including financials and the corporate in general."


Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions