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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 weeks 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 todays 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 doesnt 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 close1 day3 mthYTD
Sensex18,396 (1.5)(8.2)(10.3)
Nifty5,512 0.0 (8.4)(10.1)
BSE 1002,272 (1.9)(10.6)(10.3)
BSE 2007,138 (2.0)(11.2)(10.3)
CNX Midcap7,881 0.0 (15.8)(11.0)
BSE Smallcap8,546 (3.6)(19.4)(11.6)
Developed market % change
 Last close1 day3 mthYTD
Dow Jones11,824 (1.4)6.3 2.1
Nasdaq2,687 (2.5)7.2 1.3
S&P 5001,276 (1.8)7.9 1.5
FTSE5,881 (1.4)3.6 (0.3)
CAC4,002 (1.4)4.4 5.2
DAX7,103 (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 close1 day3 mthYTD
Shanghai Comp2,7680.6 (7.1)(1.4)
Brazil Bovespa66,698(2.0)(5.6)(3.8)
Mexico Bolsa36,840(1.6)3.6 (4.4)
Kospi*2,085(1.1)10.7 1.6
Micex1,735(0.9)13.9 2.8
Taiwan*9,1450.5 10.4 1.9
Straits*3,197(1.0)1.7 0.2
* Markets are open

Institutional activity
(Rs cr)CashF&OMTDYTD
FIIs(1,397)2,298 (4,838)(4,838)
MFs(52)-591 591
FIIs Prov.(707)

MFs Prov.81

Commodities % change
 Last close1 day3 mthYTD
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   


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