Midcaps to dominate, Stock likely to gain further Stocks in Mumbai are headed for another flat day with cautious optimism as investors are likely to hold their investments. The fear in the market has subsided to a great extent as things look much better than they seemed in March. We expect the benchmark index or the Sensex to gain nearly 50 to 100 points for the day.
A jump in oil prices sent investors rushing to put money into the stock market and helped gains in the indices on Wall Street. The Dow Jones industrial average rose 90.99, or 1.1 percent, to 8,529.38. The S&P 500 index rose 8.33, or 0.9percent, to 927.23, while the Nasdaq composite index rose 5.84, or 0.3 percent, to 1,844.06. On the commodities front, Crude rose $2.33 to settle at $71.49 a barrel on the New York Mercantile Exchange after China said it would boost oil reserves and Nigerian militants partly shut down an offshore oil platform. Watch out for Oil stocks like Cairn India for some gains today. In an interesting development, the government is proposing to increase foreign direct investment in Direct-to-Home (DTH) to 74 per cent, and up to 24 per cent in FM Radio.We like Dish TV Rs 40.10, Sun Tv Rs 243 and our favorite Rs 179. Bag Films and Adlabs are other companies that have minor exposure to FM radio. Investors have punished Tata Motors, which fell more than 8 percent on reporting huge loss for the quarter and the Suzlon Energy got it's share of treatment as investors dumped the stock after lacklustre results. It will be interesting to see how the stock of Pyramid Saimira reacts to the news of sale of its assets abroad. As expected midcaps fared better yesterday with a 1.14 percent against a 0.14 percent gain on the Sensex. JP Hydro, Praj Ind, Indus Ind Bank, Educomp and Glory Polyfilms are some of the stocks to keep on radar from a short term perspective. --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
