A day for the bulls in the making, Stocks to open higher Stocks on Dalal Street are likely to rally for the first time in the week as the global sentiment towarsd equities has improved by the new Chinese stimulus plan. Stocks in Asia are up in pre-market trade as stocks of energy and Metal shares inched up in the mroning trade. The Japanese benchmark or Nikkei is up by nearly 2 percent in premarket trades.
Stocks rallied on Wednesday, ending a five-day losing streak, as another Chinese stimulus package boosted commodity prices and encouraged investors to jump into energy and natural resource shares.The Dow Jones industrial average (DJI:^DJI - News) rose 149.82 points, or 2.23 percent, to 6,875.84. The Standard & Poor's 500 Indexgained 16.54 points, or 2.38 percent, to 712.87. The Nasdaq Composite Indexput on 32.73 points, or 2.48 percent, to 1,353.74. The news that China will increase spending on infrastructure and manufacturing drove oil and metals prices higher and this is likely to reflect in the metals sector, which has already gained 2 percent yesterday. Sterlite Ind, Hindalco and Tata Steel might be stocks to watch out for the day. We forsee a strong rebound in the indices as the short interest in the market is really high and some decent gains are on the cards. Concentrate on Metals, Engineering and Banking space as the action is likely to be limited to these sectors. Expect The sensex to touch 8,700.00 level and this might be a strong resistance for the market. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
