Monday 5 March 2012

Intraday Trading Tips


Date : 06.03.2012
Market may open sharply lower (Mar 06)
Indian equities are likely to open negaitve on Tuesday, Mar. 06, 2012. SGX Nifty is trading at 5,285 (07.34 a.m.), 29.5 points lower than Monday of 5,314.5.

Asian stocks swung between gains and losses after conflicting economic data from the US and Europe clouded the earnings outlook for Asia`s exporters. Japanese benchmark index Nikkei 225 fell 40.33 points, or 0.42%, to trade at 9,658.26. Hong Kong`s Hang Seng index declined by 111.74 points, or 0.53%, to trade at 21,153.57.    www.goldennifty.com

Oil prices rose above USD 106 a barrel Monday in international markets. Benchmark crude rose 2 cents to finish at USD 106.72 a barrel in New York. The price has been USD 106 a barrel or higher since February 21. Brent crude rose 15 cents to end at USD 123.80 a barrel in London.

US stocks fell on Monday for the second straight session and the third in the last four trading days, led lower by basic materials shares after China trimmed its growth target for 2012. The Dow Jones industrial average shed 14.76 points, or 0.11%, to 12,962.81 at the close. The Standard & Poor`s 500 Index dipped 5.30 points, or 0.39%, to 1,364.33. The Nasdaq Composite Index lost 25.71 points, or 0.86%, to close at 2,950.48.   www.goldennifty.com

European stocks dropped, snapping two days of gains, as China cut its forecast for economic growth this year and data showed manufacturing and services in the euro area shrank more than estimated. UK`s benchmark index FTSE 100 declined 36.31 points, or 0.61%, to end at 5,874.82.

In the spot market, the Dollar Index increased 0.04% to 79.32 (21:00 ET).  www.goldennifty.com

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