Bail out announced, Bulls to dominate the early morning session Markets are set to rally on Monday as the uncertainties regarding the bail out have been put to rest on Sunday. Expect the indices to recover nearly 200 to 250 points in today's trade as we do not see a run away move.
President George W. Bush and congressional leaders said they reached an agreement on a $700 billion bank-rescue package designed to revive moribund credit markets.The House may consider the plan tomorrow and the Senate will vote by Oct. 1, lawmakers said today. Asian stocks opened marginally higher on the news.Japan's financial stocks gained after U.S bail out was announced late today.The Nikkei 225 Stock Average climbed 138.42, or 1 percent, to 12,031.58.Coming to sectoral plays, Realty is set to outperform stocks in other sector. The realty index has lost more than 28 percent in the past month. There should be a relief rally in the front runners in the sector like DLF, Unitech and HDIL. We might not see the same kind of rally in the banking sector, as the banking stocks have not been impacted as much during the current slide. ICICI Bank is likely to stand out in this sector. Surana Telecom announced a buy back at price not less than Rs 50 per share and this is approximately 40 percent more than the closing prices of Rs 28 on Friday. Some other stocks specific stories that look interesting are SPIC which moved up more than 12 percent on take over talk from Reliance Ind. Tata Communications, GMR Ind and United Phosphorus. Suitable stocks for intraday today: <ICICIBANK, AXISBANK, BHARTIARTL, BHEL, RELINFRA, INFOSYSTCH, KOTAKBANK, TATASTEEL, TATAPOWER, PNB> Market Close Box: BSE Sensex 13102.18 -445.00 NSE Nifty 3985.25 -125.30 USD Rs.46.43 Oil Nymex $106.8 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 -~----------~----~----~----~------~----~------~--~---
