Positive momentum to continue on positive global cues Stocks on Dalal Street are likely to maintain their bullish momentum after a decent run up towards the second half of the day on Wednesday. Positive global cues and decent valuations might prompt investors to buy some blue chips and select midcaps today. Expect the benchmark index or the Sensex to gain nearly 100 points for the day.
Investors kicked off the stock market's third quarter with a moderate gain after getting some reassuring data on manufacturing and housing.The Dow rose 57.06, or 0.7 percent, to 8,504.06. It climbed as high as 8,580.47 in earlier trading, but then pared its gains as the day went on.The Standard & Poor's 500 index rose 4.01, or 0.4 percent, to 923.33. The Nasdaq composite index rose 10.68, or 0.6 percent, to 1,845.72. Realty was a bright spot in yesterday's trade as the sectoral index gained more than 4 percent for the day.There was some buying in the infra related stocks on hopes of a big stimulus on the Infrastructure front. DLF might come under pressure on the news that US-based private equity investor D E Shaw is looking to sell only 60% of its investments in DLF Assets, after gaining as much as 5 percent for the day reaching Rs 326. Stay away from the stock of Hindalco Ind. The scrip of Hindalco might be under pressure for the second day in a row as the company fundamentally looks weak and has a long way to go before it settles down. One could look to accumulate the stock at Rs 60 to Rs 65 levels.RNRL might active and might face some selling on the reports of Reliance Industries Ltd is taking the Bombay High Court order of June 15 on gas supply to Anil Ambani’s Reliance Natural Resources Ltd (RNRL) to the Supreme Court. Zee Entertainment Rs 177 is likely to be active this morning after the channel has regained the top slot that it relinquished almost a decade. Overall a good day for the markets, do not expect huge gains, as the action is likely to be stock specific.Emco Ltd, Surana Ind, Geojit secturities and Moser Baer are some of the stocks to watch in 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 -~----------~----~----~----~------~----~------~--~---
