***Positive opening on cards for the Sensex, after a decent day*** Stocks on Dalal Street are uo for a positive open on Wednesday morning, after a strong rebound on Wall Street. The Option expiry on Thursday also is a key factor in pushing the market to the upside, as there are lot positions with a bull spread on the Nifty.
Asian stocks rallied from a five- year low, led by Japanese automakers and the region’s mining companies, as the yen weakened and commodity prices rose. The MSCI Asia Pacific Index advanced 1.4 percent to 75.36 at 10:55 a.m. in Tokyo, narrowing its decline this year to 16 percent. Japan’s Nikkei 225 Stock Average advanced 1.5 percent to 7,370.05, while South Korea’s Kospi Index rose 1 percent. Federal Reserve Chairman Ben Bernanke gave Wall Street a double dose of reassurance. Now it's President Barack Obama's turn.The Dow rose 236.16, or 3.3 percent, to 7,350.94. On Monday, the major indexes tumbled more than 3 percent, including the Dow, which fell 251 points and hit its lowest close since May 7, 1997.The Nasdaq composite index rose 54.11, or 3.9 percent, Tuesday to 1,441.83, while the Russell 2000 index of smaller companies rose 17.90, or 4.5 percent, to 412.48. Things look bright all of a sudden, with the government announcing the 4% excise duty cut across-the-board will continue beyond March 31, 2009. We might see the invesrse of yesterday's trade, Old economy stocks might be sideways after a good move on Tuesday. One could bet on Banking and Metal stocks today. Watch out for PNB, ICICI Bank, Tata Steel and Sterlite Ind.Midcaps mights see a good bounce today. Traders with risk appetite are advised to hold on to their positions in GSS America, REI Agro and Power Grid Corp. On the whole a positive day on the cards with the possibility of the Sensex gaining nearly 1 percent Previous Close Box : BSE Sensex 8822.06 -21.15 NSE Nifty 2733.90 - 2.55 USD Rs.49.89 Oil Nymex $39.89 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 -~----------~----~----~----~------~----~------~--~---
