Bull domination to continue on Dalal Street Mar 24, 2009 Stocks in Mumbai might build on the tope of 5 percent gain we have seen on Sensex as there looks to be no stopping for the bulls. Expect the Sensex to gain nearly 200 points or 2.5 percent for the day. Asian stocks climbed, led by finance and mining companies, after a U.S. Treasury plan to remove toxic assets from banks triggered a global rally in equities.The MSCI Asia Pacific Index rose 1.5 percent to 83.45 in the first hour of trade. Wall Street got the news it wanted on the economy's biggest problems banks and housing and celebrated by hurtling the Dow Jones industrials up nearly 500 points.The Dow rose 497.48, or 6.8 percent, to 7,775.86,the Standard & Poor's 500 index rose 54.38, or 7.1 percent, to 822.92 and the Nasdaq composite index rose 98.50, or 6.8 percent, to 1,555.77. Banking sector was the star in yesterday's trade and the trend is likely to continue. Traders could look at midcap banks like Yes Bank and DCB along with the big boys, ICICI and Axis Bank. Metals space looks for another wild ride, watch out for Sesa Goa, Tata Steel and SAIL in this space. Realty stocks might get active after a slow day yesterday. Gokaldas Exports is likely to be locked for the third day in a row, courtesy of some buying by Black stone which already holds a major stake in the firm. Reliance Capital is another stock that looks explosive after being hammered for the past year. Traders should keep an eye on this scrip.ICSA and Ranbaxy have shown interesting volume action and further gains from these levels are not ruled out.
Previous Close Box : BSE Sensex 9424.02 457.34 NSE Nifty 2939.90 132.85 USD Rs.50.52 Oil Nymex $53.83 Research Desk --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
