Sensex on its way to make a new 52 week high Stocks on Dalal Street are likely to open higher as liquidity continues to drive the markets. The benchmark index or the Sensex is likely to gain more than 150 points or nearly 1 percent for the day. There is a strong possibility of the Sensex test the 17,000 mark during the day.
On Wall Street, major stock indicators rebounded Tuesday from a drop the day earlier to end at their highest levels in 11 months.The Dow Jones industrial average rose 51.01, or 0.5 percent, to 9,829.87, its highest close since Oct. 6, when it finished at 9,956.The broader Standard & Poor's 500 index gained 7.00, or 0.7 percent, to 1,071.66, while the Nasdaq composite index rose 8.26, or 0.4 percent, to 2,146.30. Both indexes are at 11-month highs. IT and FMCG stocks were in focus yesterday with TCS leading the IT pack and ITC helping the FMCG space. Drug maker Ranbaxy surged more than 5 percent to Rs 380 ahead of the quarterly numbers later this week. HDFC and BPCL were among other gainers among the Nifty fifty stocks. New listing, Ludhiana based Jindal Cotex ended the day 16 percent higher at Rs 87 which 16 percent higher than the offer price of Rs 75.The stock of Kingfisher Airlines might see some pressure after the company may raise as much as $175 million selling shares and global depository receipts to repay debt. Also, Reliance Communications might be under the radar, as the company's subsidiary Reliance Infratel gets ready for an IPo some time soon. Among the midcaps, Aarti Ind looks explosive even after a 14 percent gain at ars 53.50. Natco Pharma is another stock which looks poised to test the Rs 150 level soon. Inox Lesiure and Vishal Retail also look good from a trading perspective. Sical Logistics, Amar remedies and Gokul Refoils are some other midcaps that could see some action ahead of their board meetings. --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
