MARKET OUTLOOK FOR 27th SEP.

STOCK MARKET NEWS & UPDATES

Indian Market:

Equity benchmarks maintained profit booking for the second consecutive day, which was just a part of small correction amid consolidation as indices rallied sharply in previous few days on the back of strong FIIs inflow. The Nifty has been just finding some supply wherever it reaches the 6,000 levels.

The Sensex closed at 19861, up 80 points and the Nifty was at 5959, down 31 points.India’s exports grew 22.5% to $16.64 billion in August 2010 over August 2009, while imports rose 32.3% to $29.7 billion data last week showed. As a result, trade deficit, or the difference between exports and imports, widened to $13.5 billion.

Infrastructure finance companies were allowed to raise external commercial borrowings and lend to local firms, commercial banks including State Bank of India (SBI), Axis Bank and Punjab National Bank have reportedly approached the government to seek a similar dispensation.

Global Cues:

Asian stocks were mixed in quiet trade Thursday, with major markets like Japan, China, Hong Kong and South Korea closed for public holidays. The key benchmark indices in Indonesia and Singapore rose 0.17% and 0.01% respectively. Taiwan’s Taiwan Weighted Average fell 0.27%.

U.S. stocks slipped on Wednesday, ending the Dow’s five-day winning streak, following Adobe’s discouraging revenue outlook and investors’ disappointment over Microsoft’s new dividend. The Dow Jones industrial average dipped 21.72 points, or 0.20% to 10,739.31.

The pace of growth in the euro zone’s services and manufacturing sectors slowed much more than expected this month

CLICK & GET FREE STOCK TIPS TRIAL ON MOBILE