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NIFTY AND STOCK MARKETS MORNING OUTLOOK 8TH AUG

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August 08, 2012
-Daily Morning Outlook-
Markets at a Glance
A gap up opening is likely on the cards for the Indian indices today tracking positive Asian mar-kets. Meanwhile Asian shares are trading higher today, extending their sharp rally for the third straight day, on heightened expectations that central banks in the US and Europe may take immediate actions to boost their respective economies. Japan's Nikkei 225 leading the surge to test the psychological 9,000 level, powered by exporters buoyed by expectations of fresh stim-ulus measures from central banks, boost risk appetite. In the absence of any economic data, investors are eyeing the key data from China to be released on Thursday, including industrial production, retail sales and inflation, to gauge the health of the world’s second-largest econo-my. The SGX Nifty, Aug’12 contract last traded at 5,370, up by 30 points from previous session.
Wall Street Update
The US markets continued their gaining streak for the third straight day, with the S&P and Nasdaq rose to three month high bolstered by expectations the European Central Bank would act soon to contain the Eurozone's debt crisis. Further, adding to the bullish tone, a belief among investors that the Federal Reserve will take additional steps to boost economy if growth remains sluggish. However, the volumes remained thin that kept the markets relatively flat following the opening thrust higher, while the S&P 500 and Nasdaq finished over 1,400 and 3,000 for the first time since the start of May.
Previous Day Roundup (Domestic)
 Indian benchmark indices ended higher extended their previous session rally with both the BSE Sensex and the NSE Nifty surged more than 1%, on continued optimism over economic reforms.
 On the sectoral front, barring the Health Care and Consumer Durables indices, rest all the indices ended in positive, mainly led by the IT, Auto, Teck, Realty and Bankex indices up by more than 1% to 2%.
 The BSE Sensex closed at 17,602 up by 189 points or by 1.1% and NSE Nifty closed at 5,337 up by 54 points or 1.0%.
 The Indian rupee rose to as high as 55.07 against the dollar on account of heavy dollar sales by the domestic companies.

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