Market summary 3Mar 08

A much waited event specially for the traders Budget, it came and went over and went by giving a small jerk to the day traders and ofcourse the big players, the short term capital tax , raise from 10 to 15 % yes its there and if market insider news is to be believed some of the FII and big fund houses did'nt liked that announcements much , os they are -ve on markts as of now.
The Budget went away without giving any ray of hope for much sinking bear market .
The trigger what traders were waiting for was not there , insipite of that the jitterness have been there..
But the jerk has gone we believe the jerk has alredy given the reaction , the market closed in negative zone but abv the suppport lvls.
We belive for further the sensex is gonna be in range bound to -ve impact , with budget not giving any positive clues the sensex gonna trade on the mercy of FII yes. and till that some big FII put their money on market we dont see anything to cheer for the investors.

FY 08 is considered to be the year of the consolidation .. how much we dont know. the events that can boost the sentiments of investors are gone so here we are again falling on the hands of global cueus.
From here on sensex will follow the global markets strictly as the local cues are over and there is no +ve side seen we might see some step following by sensex and any spike or bulls attack if any would only be called if there is help if FII..

the market will observe sun outage from March 4 to March 18...

NTPC plans to spend Rs73bn for setting up of second phase of Barh thermal power project in Bihar..

Gitanjali Gems acquires the retail business of Mumbai based jewellery company Renaissance Jewellery...

Essar Group plans to invest Rs500bn in Gujarat over the next three years on SEZs, steel, oil and gas, amongst others..

Tata Motors Jaguar-Land Rover deal may be delayed as issues relating to supply of engines, platforms and technologies are still to be sorted out..


GTC Industries board has granted an in-principle approval to demerge the tobacco and the real estate business into separate entities..

Temasek is in talks with Tata Communications to pick up a stake in its new retail business...


A gap down openeing is expected , but stock specific action would be there,, selected stocks would be in action .. stay invested in shrt term.. time for day trading is gone , we have to be patience to reap good benefits..

Have a grt daY!!!