Pre Market Report Mar25, 2009
Correction on cards, as bulls take a breather Mar 25, 2009 Stocks on Dalal Street might correct on opening bell, as bulls are likely to take a breather in what could be seen as a positive week for the Sensex. Expect the Sensec to correct 100 points or nearly a percent for the day. Stocks in Asia are likely to open in red in the first hour of trade as investors took some money off the table from Commodity and financial stocks.Wall Street gave up some gains after a sharp rally on Monday, as investors booked some profits.The Dow fell 115.89, or 1.5 percent, to 7,659.97. The Standard & Poor's 500 index fell 16.57, or 2 percent, to 806.35, and the Nasdaq fell 39.25, or 2.5 percent, to 1,516.52. Banking showed some strength in a sideways market and might correct today as the move has been vertical in banking related stocks for the past few sessions. We advice medium term investors to hold these stocks as there is still some room for these stocks after a small correction. ICICI Bank remains our favorite and is a good short term bet after a slight correction today. Metals looked weak yesterday will some selling pressure in stocks like Hindalco. But we see this sector outperforming other sectors and a position in quality metal stocks is advisable.As expected the stock of Gokaldas Exports scored a hattrick as the stock was locked in 20% circuit for the third consecutive day. We have seen some second and even third rung companies have started moving higher and it is advisable for investors to book profits and gte out of these stocks. Stocks like Archies Ltd, Prithvi Info, Energy Development, Austral Coke are some of the stocks where one could look to exit on rallies. Previous Close Box : BSE Sensex 9471.04 47.02 NSE Nifty 2938.70 - 1.20 USD Rs.50.31 Oil Nymex $53.53 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 -~----------~----~----~----~------~----~------~--~---
