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The Egypt effect

India Infoline News Service | Mumbai |

The Egypt effect

Learn from yesterday, live for today, hope for tomorrow. - Albert Einstein.


After last week’s big selloff (that saw the Nifty breaching 200-DMA) many would have hoped for some relief. But those prayers may not yield a desired result, not at least at the start of today’s trading session. World markets have been rattled by the sudden spurt in public unrest in Egypt against the three-decade rule of President Hosni Mubarak.


The Egyptian political turmoil could continue to cast its ugly shadow over world markets for a few days. It is tough to predict which way the cookie will crumble in Egypt. One only hopes that the uprising doesn’t spread in other parts of the Arab world.


Brace for a gap-down opening, as our market reacts to developments in Egypt. Keep an eye on global cues for any improvement in the sentiment. One should remain cautious and wait for the situation to stabilise. We expect investors to take refuge in safe havens like the dollar, yen, gold and government bonds. Crude oil has rallied above $90. The undertone may continue to be fragile for a while and a close below 5450 levels could further aggravate the selling pressure.

Indian market   % change
  Last close 1 day 3 mth YTD
Sensex 18,396 (1.5) (8.2) (10.3)
Nifty 5,512 0.0 (8.4) (10.1)
BSE 100 2,272 (1.9) (10.6) (10.3)
BSE 200 7,138 (2.0) (11.2) (10.3)
CNX Midcap 7,881 0.0 (15.8) (11.0)
BSE Smallcap 8,546 (3.6) (19.4) (11.6)
Developed market   % change
  Last close 1 day 3 mth YTD
Dow Jones 11,824 (1.4) 6.3 2.1
Nasdaq 2,687 (2.5) 7.2 1.3
S&P 500 1,276 (1.8) 7.9 1.5
FTSE 5,881 (1.4) 3.6 (0.3)
CAC 4,002 (1.4) 4.4 5.2
DAX 7,103 (0.7) 7.6 2.7
Hang Seng* 23,377 (1.0) 1.2 1.5
Nikkei* 10,234 (1.2) 11.2 0.0
S&P/ASX200* 4,744 (0.7) 1.8 (0.0)
* Markets are open



Emerging market   % change
  Last close 1 day 3 mth YTD
Shanghai Comp 2,768 0.6 (7.1) (1.4)
Brazil Bovespa 66,698 (2.0) (5.6) (3.8)
Mexico Bolsa 36,840 (1.6) 3.6 (4.4)
Kospi* 2,085 (1.1) 10.7 1.6
Micex 1,735 (0.9) 13.9 2.8
Taiwan* 9,145 0.5 10.4 1.9
Straits* 3,197 (1.0) 1.7 0.2
* Markets are open



Institutional activity
(Rs cr) Cash F&O MTD YTD
FIIs (1,397) 2,298 (4,838) (4,838)
MFs (52) - 591 591
FIIs Prov. (707)


MFs Prov. 81


Commodities   % change
  Last close 1 day 3 mth YTD
Crude (US$/bbl) 90.3 1.1 10.9 (1.2)
Gold (US$/oz) 1,339 0.2 (1.5) (5.7)
Copper (US$/mt) 9,545 1.0 14.6 (1.1)
Aluminium (US$/mt) 2,464 2.3 6.3 0.1
Zinc (US$/mt) 2,338 4.2 (5.2) (4.4)
Advance/Decline stocks      







article
113111402748
The Egypt effect
The Egypt effect
The Egypt effect
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January 01, 1970 05:30 IST
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Market Outlook
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