Bulls gearing up for a rally, on the last trading day of the week
Stocks on Dalal Street are likely to spike on opening bell, after losing early gains in the final hour on Thursday. Strong gains in the US market is likely to boost investor sentiment on the Street. Expect the benchmark index or the Sensex to gainnearly 300 points or 2 percent for the day. On Wall Street, Investors rushed back into stocks as profits at a handful of companies indicated the economy might be gaining strength.The Dow rose 172.54, or 2.1 percent, to 8,472.40, after falling 40 points in the early going.The broader Standard &Poor's 500 index rose 19.32, or 2.1 percent, to 920.26. The gain pushed the index back into the black for the year. The Nasdaq composite index rose 37.20, or 2.1 percent, to 1,829.54. Realty, Oil & Gas and Banks might outperform the broader market. Crude made a come back on Thursday to nearly $69.50 per barrel on the New York Mercantile Exchange as prices hover under the year's peak on economic concerns. Watch out for Cairn Energy and Reliance Petroleum in this space. Meanwhile the race for Great Offshore Rs 413 is heating up, as ABG is likely to make a revised offer soon, to trump Bharati Shipyard counter offer. We still maintain a target of Rs 450 on this stock.The stock of Unitech might see a sigh of relief. Unitech is poised for another upmove after a decent gain yesterday. The stock might reach Rs 92 in Friday's session. Bartronics India was locked in circuit Rs 170, on speculation that the company will be a front runner in the newly announces 'Identity Card' program by the government. The stock has a long way to go from here. JP Hydro was another mover on huge volumes on some fund buying. Max India,BEML, D-Link and Hotel Leela are some of the stocks to watch out 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 -~----------~----~----~----~------~----~------~--~---
