Bears continued their domination over buying and selling action on Thursday. Strengthening of existing bearish response on Friday is likely to fetch other stocks in their favor. In contrast, optimistic response on Friday is expected to alter the current outlook.
In spite of the tough basics, Indian market is affected gravely on ongoing US subprime disaster in conjunction with political disputes on nuke contract issue between the Congress and Left parties, added technical analyst, Vishwas Agarwal.
Rahul Agarwal, VP, Institutional Sales, LKP Shares stated that today the stock market saw a big improvement of 4.5%. It reflected the worldwide movement and it depressed on the back of a firmer Yen and global disentangling.
Mr. Agarwal anticipates the securities market to rectify further and touch 14,000 level. On Friday (August 17), markets may remain pessimistic due to sharp fall in valuations. He suggests that buying in the some fundamentally strong stocks is the best bet at this downfall. The stocks include Reliance Industries, Reliance Communications, Reliance Energy, Tata Power and Bharti Airtel.
In a bid, Japan`s central bank pumped-up 400 billion yen into money markets to control an advancement in short-term interest rates accompanying immense withdrawals in the last two days.
This is the bank’s third activity in the last 7 days amongst international concerns about US mortgages crisis.
Asian stock markets slipped further.
Today, Grasim Industries is quoting at Rs 2,776, down Rs 102.7, or 3.57%, and touched an intraday high of Rs 2,845 and an intraday low of Rs 2,740. 
With weak worldwide markets activating a substantial sales event, the Sensex plunged over 650 p
In a bid, Japan`s central bank pumped-up 400 billion yen into money markets to control an advancement in short-term interest rates accompanying immense withdrawals in the last two days.
