Sensex on its way to make a new high Stocks on Dalal Street are likely to hold on to the big gains from yesterday as investors grow increasingly confident over the speed of recovery. Expect the benchmark index or the Sensex to gain nearly 0.5 percent or 80 to hundred points for the day.
Better news on retail sales and manufacturing helped send stocks higher Tuesday, as did comments from Federal Reserve Chairman Ben Bernanke that the recession was probably over.The Dow rose 56.61, or 0.6 percent, to 9,683.41,the S&P 500 index rose 3.29, or 0.3 percent, to 1,052.63, while the Nasdaq composite index rose 10.86, or 0.5 percent, to 2,102.64. All three indicators are at their highest levels for 2009. Realty and Metal sectors have witnessed lot of activity on Tuesday's session. Jindal Steel led the metals pack with a 7 percent gain, while gains in Unitech and DLF boosted the Realty sector.The latest data on the the advance tax collections for the second quarter of the current financial year have shown robust growth of 35 to 40 per cent across industries reinforcing the view that the recession is over. SepThe stock of Natco Pharma Ltd climbed the most in more than six years after U.S. regulators accepted for filing its partner Mylan Inc.’s application for a generic version of Copaxone. The stock was locked in 20 percent circuit at Rs 124. There is a lot of room to the upside after some consolidation at current levels. Banks were back in action as stocks of Lakshmivilas Bank, Indian Bank and BOI managed to register double digit gains. The stock Rajesh Exports is looking explosive after a 10 percent move on heavy volume. The rise in the price of gold and hopes of increased demand during the festive season boosted the stock. We have a target of Rs 80 on the stock. --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
