11 -Feb -2008 :- Can Indian Markets stop the bleeding?

It's Monday 11th February 2008 and I should say there is hope that the Indian Markets will rebound this week - pre-budget rally is what's it's called.

I am just a new entry into the stock markets and have been doing pretty bad at it so I will keep out of passing judgments on the news and views of various analysts and brokerage firms.

Since this is my first post, I have not yet thought about how the posts should be - what to include, how to format and present. So forgive me if you can't make sense of the first few posts. I promise they will get better as time goes on.
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Pre-Market :-
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Trading has started on the other Asian Markets and, not surprisingly, they have opened lower. Wow, thats encouraging!! No??

Lets see if there any encouraging news from any of the financial papers and websites

Bloomberg :-

A couple of stories caught my eye and they are not good

Group of Seven policy makers said the U.S. economy may slow further, eroding global growth, and officials forecast more financial-market turmoil.

India's industrial production probably grew less than 10 percent in December for the second time in three months, adding pressure on the central bank to cut interest rates.

Yahoo Finance :-

GLOBAL MARKETS WEEKAHEAD-G7 does little to calm nerves

Asian stocks fall on credit worries (Reuters)

ChannelNewsAsia :-

Analysts say G7 does not offer markets a 'quick fix'

Economic Times :-

Markets eye R-Power listing for future cues

Investors lose over $100 bn in market crash

Mkt crash: Small investors down but not out

Equities seen volatile; R Power listing eyed: Volatility is likely to remain the order of the day amid global market weakness. The Reliance Power listing slated on Monday will also play an important role in deciding the market direction

MoneyControl :-

Mkts to stage a rally in run-up to Budget: Credit Suisse

Sify :-

Investors less interested in high-priced IPO: Marketmen

Investors will gain long term: Anil Ambani

I guess it's enough of bad news for now. I am depressed already! Let's see whether the pre-budget rally that everyone talks about happens. But my guess is that the Indian Markets will open lower. This is easy to predict now since the de-coupling theory was proven wrong.
Lets keep our fingers crossed and wait!!
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Market :-
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As expected the market has opened lower. A small update from rediff on the Reliance Power if you have not already known the news

The stock touched a high of Rs 600, and a low of Rs 389, and is trading at Rs 443 - a discount of Rs 10 - as of 1100hrs. The weighted average price on the BSE is Rs 435, and around 2.51 crore shares have changed hands so far on the exchange

IbnLive says "Markets trade in red: Energy, realty, midcaps down"

RK :-

Market is down 784 points. Pretty bad day and I think my portfolio must have gone down by another 10-15%. God save me!!

Yahoo Finance

Reuters report states that "European stocks were set to drop on Monday on
concerns that the global credit crisis could spread, but rising commodity prices
may lend support to energy and mining companies"

RK at 13 hrs:-

Every one thought Reliance Power to be the savior but none in their wildest dreams could have thought that Reliance Power could hurt the sentiments so much and bring down the Market

Analyst's Views and Predictions :-

Here are some of the views and opinions of some of the analysts

Investors would be advised to stay away from this market which could be seeing a pause in the bull run, says Ashu Madan of Religare, on CNBC TV18

One can deploy around 25-30% cash in this market since valuations look good for many stocks now, says Dilip Bhatt of Prabhudas Liladhar, on CNBC Awaaz

Frontline stocks in capital goods, engineering, real estate, steel, banking and financial services sector look good after this market fall, says Gaurang Shah of Geojit Financials, on CNBC Awaaz

While global cues are weak, there seems to be a general nervousness in the Indian market with no buying from any quarter (no retail investors or FIIs), says Deven Choksey of KR Choksey, on NDTV Profit

Financial crisis will have impact on world economy, says IMF on NDTV Profit

The world is in the grip of a bear market and the Indian market is also showing signs of being bearish, says Rajesh Jain of Pranav Securities, on CNBC TV 18

Puru Saxena, Chief Executive of Purusaxena.com said, the uptrend in the Sensex would resume after some basing and consolidation

Wait for markets to find a bottom: Sudarshan Sukhani of Technical Trends

As we can see there is no dearth of analysts but why such differing opinions? Lets see who gets it right at the end of the day!!

RK at 14 hrs: -

I will stay out of the market for the moment. I have some cash but would not place it unless I really the tide turning.

RK at 15:30 hrs: -

Sensex down by a little over 800 points and Nifty a little over 250 points. The message that is being made clear by the analysts and the market is that its very dangerous to speculate at the moment. Almost all agree that you put your money if you are looking at long term

RK
http://www.RentalAndRealEstate.com