Sensex to stay flat, Midcaps to run the show The stock market indices on Dalal Street are likely to correct and move sideways, as bulls might take a breather after a huge run up for the past 5 sessions. Expect the Sensex to trade in a narrow band of nearly 100 to 150 points. Midcaps are likely to dominate as investors are likely to bid up shares that have not participated in the rally.
Stocks on Wall Street pared morning gains as disappointing housing data dampened investor sentiment. The Dow Jones industrial average fell 29.23, or 0.3 percent, to 8,474.85. The Standard & Poor's 500 index fell 1.58, or 0.2 percent, to 908.13, while the Nasdaq composite index rose 2.18, or 0.1 percent, to 1,734.54. Realty stocks dominated the street on Tuesday as there was lot of fund buying and short covering in Infra related stocks.The Realty index gained more than 12 percent and it is time to book partial profits in these stocks at current levels. Banking and Consumer stocks also made to the gainers list. Investors are advised to focus on IT and FMCG sectors, as they have not participated in yesterday's rally. Investors could look at midcap IT stocks like Aptech, NIIT Tech, Rolta and Polaris for some quick gains. Index based heavy weights are expected to underperform in the next few sessions, as investors might focus on midcap stocks for speculative gains. SREI Infra looked explosive yesterday with a whopping 30 percent gain at Rs 66. We advise investors to buy this stocks if it corrects back to the Rs 55 level, as there is some more room for upside in this scrip.We like Crompton Greaves, Mundra Port, Gammon Infra and shipping stocks like Varun Shipping for today's trade. B.Karthick Research Analyst. --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
