Markets to get a flat start of the special trading session

Date: 08-09-2012

Indian markets are going to have a special session on Saturday, September 8, 2012 in Capital Market segment both the exchanges (BSE and NSE) are conducting a special live trading session from 11.15 AM to 12.45 PM. The BSE is holding the trading session to test its disaster recovery software.

The BSE would execute special live trading session in the Securities Lending and Borrowing Scheme (SLB), derivatives and cash segments. With regard to capital market segment, NSE has said in a circular that 'Trades done on Saturday, September 8, 2012 shall be settled on Tuesday, September 11, 2012, as a separate settlement.”

The short trading session is likely to remain quiet after a huge rally in last session, when benchmarks got their best daily gain in last two months. Though, the trade is likely to be of consolidation lacking participation of the FII’s but the impact of the ECB’s bond buying plans can still be felt and the markets may get a mildly positive start. The global cues remained positive, after European markets, the US markets too ended marginally in green. Today, scrip specific action will keep the markets going and oil marketing companies may remain cautious after petroleum minister’s statement that there won’t be any immediate hike in any fuel price. There will be some buzz in steel companies after the Supreme Court has asked the CBI to probe the illegal mining of 50.79 lakh tonnes of iron ore from Bellary in Karnataka and its illegal transportation to Belekeri port.

Last night US markets continued their surge, with slight upmove after a big rally in last session on the back of ECBs decision. Even the disappointing jobs report was unable to dither the market mood. All three indexes finished the week at fresh multi-year highs with gains of around two percent. The Labor Department reported that 96,000 jobs were added in August. The Labor Department also lowered the job creation estimates for June and July. However, the unemployment rate ticked down to 8.1% from 8.3%, but only as a result of a significant drop in the number of people looking for jobs.