Following are the highlights of the petroleum product price
hikes and tax revisions announced by the government:
* 3 rupees/L hike in diesel price.
* 5 rupees/L hike in petrol price.
* Govt hikes LPG prices by 50 rupees per cylinder.
* Customs duty on crude cut to nil.
* Govt cuts excise duty on diesel, petrol by 1 rupee/L.
* Customs other petro products cut to 5% vs 10%.
* Govt cuts customs duty on petrol, HSD to 2.5% from 7.5%.
* Excise duty cut to cost 66.60 bln rupees.
* Duty cut on oil pdts to cost govt 226 bln rupees.
* Revised fuel prices effective midnight
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Wednesday, June 4, 2008
BTST UNITECH,DLF,PUNJ ,,,,,,,,
SRF Technically, Looks Great JUST BUY N BUY
No Problem for Bulls !!!!
Buy Back Already Approved, Now, It's Time to Trader to buy the Stock.
REALITY STOCK LOOKS SUPERB
One should expect a choppy trading session be stock specefic,Important levels to watch on the Nifty now are 4800 on the upside and 4630-4635 on the lower side
Bullish or +ve Indices
Bank
Positional Calls
Buy Aartind- 34
Buy Cairn- 282
Buy Essoroil- 249
Buy Indiacem-166
Buy MTNL-96
For target pls subscribe only for memebers
The FIIs on Tuesday stood as net seller in equity. The gross equity purchased was Rs2,483.20 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,832.50 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs349.30 Crore) and net debt was Rs0.00 Crore.
Today, BSE Sensex has support at 15,641 and resistance at 16,387.
Market to stay cautious ahead of oil price decision
The fuel hike measure to be decided today is something the markets have to contend with. It’s a bit of a paradox as any increase in fuel prices will help oil PSUs (to a small extent) while at the same time, the move could push inflation towards the double-digit mark. The government will have to do some balancing act (in sentiment at least). What kind of package the Government has in store for the state-run oil firms, we may know by the end of the day.
The market managed to stage a smart comeback after being pounded in early morning trades. Short-covering in the afternoon lifted the key indices from the day's low. The bounce was particularly remarkable considering that most Asian markets were down sharply. It would be interesting to see if the bulls are able to continue the recovery process after the recent reversals. The market breadth remained negative and the sell-off came on much higher volume. The market is expected to go down further given the nervousness over the impending fuel price hike and its fallout on inflation and economic growth.
There are also murmurs of political instability with the Left Front reportedly planning to consider its ties with the Congress-led coalition regime. With general elections due in the first half of next year, this may not happen. In any case, the market is more worried about high oil prices, soaring inflation, slowing GDP growth, global financial turmoil and foreign capital outflows. Though some of these negative factors have already been factored in, each day seems to bring in fresh set of bad news. Technically too, the market appears to be a bit weak. On the Nifty, 4630 is seen as the next big support. Below this level though there could be danger.
Coming to today's outlook, we expect a cautious opening on the back of the overnight fall in US stocks and mixed trend in Asian markets.
AIA Engineering, Orbit Corp, Royal Orchid Hotels and Shasun Chemicals will declare their results today. AIA Engineering will also consider a stock split.
Shares of Anu’s Laboratories Ltd. and Gokul Refoils & Solvent Ltd. will get listed today.
No Problem for Bulls !!!!
Buy Back Already Approved, Now, It's Time to Trader to buy the Stock.
REALITY STOCK LOOKS SUPERB
One should expect a choppy trading session be stock specefic,Important levels to watch on the Nifty now are 4800 on the upside and 4630-4635 on the lower side
Bullish or +ve Indices
Bank
Positional Calls
Buy Aartind- 34
Buy Cairn- 282
Buy Essoroil- 249
Buy Indiacem-166
Buy MTNL-96
For target pls subscribe only for memebers
The FIIs on Tuesday stood as net seller in equity. The gross equity purchased was Rs2,483.20 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,832.50 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs349.30 Crore) and net debt was Rs0.00 Crore.
Today, BSE Sensex has support at 15,641 and resistance at 16,387.
Market to stay cautious ahead of oil price decision
The fuel hike measure to be decided today is something the markets have to contend with. It’s a bit of a paradox as any increase in fuel prices will help oil PSUs (to a small extent) while at the same time, the move could push inflation towards the double-digit mark. The government will have to do some balancing act (in sentiment at least). What kind of package the Government has in store for the state-run oil firms, we may know by the end of the day.
The market managed to stage a smart comeback after being pounded in early morning trades. Short-covering in the afternoon lifted the key indices from the day's low. The bounce was particularly remarkable considering that most Asian markets were down sharply. It would be interesting to see if the bulls are able to continue the recovery process after the recent reversals. The market breadth remained negative and the sell-off came on much higher volume. The market is expected to go down further given the nervousness over the impending fuel price hike and its fallout on inflation and economic growth.
There are also murmurs of political instability with the Left Front reportedly planning to consider its ties with the Congress-led coalition regime. With general elections due in the first half of next year, this may not happen. In any case, the market is more worried about high oil prices, soaring inflation, slowing GDP growth, global financial turmoil and foreign capital outflows. Though some of these negative factors have already been factored in, each day seems to bring in fresh set of bad news. Technically too, the market appears to be a bit weak. On the Nifty, 4630 is seen as the next big support. Below this level though there could be danger.
Coming to today's outlook, we expect a cautious opening on the back of the overnight fall in US stocks and mixed trend in Asian markets.
AIA Engineering, Orbit Corp, Royal Orchid Hotels and Shasun Chemicals will declare their results today. AIA Engineering will also consider a stock split.
Shares of Anu’s Laboratories Ltd. and Gokul Refoils & Solvent Ltd. will get listed today.
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