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With the good global cues, the Indian markets maintained a good momentum yesterday. The sensex gained about 91 points to close at 16,244 levels and Nifty closed at 4,887 by gaining 8 points. Wipro,Infosys and Reliance Energy were the major gainers among the sensex stocks. There was a good busying in IT and oil specific counters.
I expect the IT sector stocks to remain high for some time. There was also a supporting news from IBM whose Q1 earnings jumped 26% and also the company has given a good outlook for coming days. This will have a strong positive impact on the Indian IT counters also. The US markets have ended higher with Dow and Nasdaq gaining around 2.08% and 2.80% respectively due to better than expected results from some companies.
The crude oil prices are still a concern with oil futures touching the $115 mark/barrel. The Asian markets are also trading huge up with Nikkei-225 up by 2.56% by now. So today also we’ll see a gap up opening in the Indian share markets and hopefully the momentum may be maintained. But towards the end of the day due to profit booking, the markets tend to lose a bit of the gains made during the day.
The star attraction of the Intra Day call made here yesterday was Bombay Dyeing which gained 17% by close and close to 20% intra day. Orchid chemicals also gained 11% due to the news coming in with regards to a possible buy out. HCL was up 6%,RIL was up by 1.5%, IVR prime up by 2.12%. Majority of the calls either ended the day in green or atleast made some hand some gains in intra day trading.
Some Intra day calls for today: Bombay Dyeing(cmp 805), RS software(cmp 31.5), Orchid chemicals(cmp 319), Ceat Ltd(cmp 125), Aptech(cmp 263), Mastek(cmp 364), Onmobile global (cmp 698), Ankur Drugs(cmp 236), aztec Soft(cmp 72.5), IRB infra(cmp 209), GTL Infra(cmp 48), Nagarjuna fertilizers(cmp 41.45).
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