Indian markets opened the day on a low note tracking weak cues from the global markets. Major Asian markets tumbled down due to dented confidence in the US as worries creep up that economy is near recession. Choppy sessions were seen very time market would make attempt to recover the lost gains. All sectoral indices slipped in red with Banking, power and realty stocks worst hit. Reliance Energy was biggest loser from the Sensex pack after board approved for Buy back of shares. Indices slipped further as Inflation rose 5.02% in 12 months to 23 February 2008, higher than the previous week's rise of 4.89%. The annual inflation rate was 6.20% during corresponding week of previous year. Concerns on political front also weighed on the market after CPM renewed its threat on the UPA government saying that the ruling coalition?s future depended on how it took the call on pursuing Indo-US nuclear deal. Meeting is to be held on 15th of this March and outcome of this would see some direction for the market. Even mid and small caps hit badly compared to front line indices. European markets started in red.

Sensex is trading down by 781 points at 15761. Restricting the gains are Rel Energy (1300,-11percent), Bajaj Auto (1913,-10 percent), ICICI BANK (874,-9 percent) and Hindalco (191,-8 percent).

NIIT Technologies has entered into a strategic partnership with Ramco Systems, a global provider of innovative software products and services. NIIT Technologies' recently launched its new paradigm offering, 'Software as a Service' (SaaS), which will deliver process based application solutions through an innovative, business transaction-based, SLA driven and highly secure delivery model. The company has gone live with its procurement solution, procure easy which is fast gaining traction. As the SaaS is relatively very new it would take some time to deliver things and also the approachable market for this type of platforms is very high. NIIT Tech has been facing some problems from the Room solutions revenues and also from the Adecco JV.

Technically Speaking:- Indices started the day on a weak note and slipped further down as the sessions progressed. Sensex made an intraday high of 16212 and low of the day at 15690 levels. Declines are edging their way ahead then the Advances. Declines are 2415 against Advances of 149. Volumes have been extremely low as it churned around Rs 2771 cr so far. Close below 15800 can take the sensex upto 14000 levels.

1 comments:

Recession said... March 29, 2008 at 3:22 PM

This article discuss about the stock market details and how to affect the current affairs.

What is 'Recession Proof'?

You can almost hear the wallets snapping shut. Folks are cutting back on their spending every way they can. According to those who know, we are either in a recession, or are about to be. I would hate to be trying to sell real estate or new cars right now. Talk about hitting your head against the wall. Ouch!

That got me to thinking of what businesses make sense during a recession. Certainly health care does. Baby boomers are going to need every kind of health care imaginable. For all I know, economic bad times makes people sick too.

Other types of businesses that should be recession proof include vital home repairs, like plumbing, electrical, and roofing.Folks can't put off fixing a clogged toilet or a leaking roof just because they're a little short on cash.

And you know what they say about death and t.ax.es. A well-run funeral home or a tax consulting business shouldn't be hurt by an economic downturn.

But all these jobs require training, and even certification. And that takes time. By the time you've learned one of these trades, the recession may well be over. That got me to thinking about one business that's truly recession-proof, and you can get started almost immediately: Day Trading.

Day Trading refers to the buying and selling of stocks within the same trading day. I know what you're thinking: how can a day trader be successful when the stock market is down, day after day? Well, day traders profit from volatility - when there are big swings in stock prices, there is money to be made.

It used to be that Day Trading was only done by financial nstitutions with access to technology and information. Now, almost anyone with Internet access can become a day trader, if they know what to do.

Manny Backus

P.S. Learn a 'sleazy' trading technique used by a select group of traders to bank lucrative, net stock returns of $223.00, $476.10, $790.25 or more -- not in days or weeks -- but in one easy hour or less! Click here:

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