As mentioned in our pre-market review, Auto sector bore thne brunt of heavy selling as investors booked profits in stocks like Tata Motors, Hero Honda and Ashok Leyland, which came out with a bad set of numbers for the month. Realty and Metal Stocks were also under tremendous pressure as the sectoral indices gave up more than 3 percent for the day.
Textile stocks might spurt on the news that the textile industry would get Rs 2,546 crore as subsidy under the Technology Upgradation Fund Scheme within three days, this is likely to help the capital-starved industry. Arvind Mills and Alok textiles might see some demand on this news.
Some Midcaps were on fire even in a falling market. Development Credit Bank jumped more than 10 percent on heavy volume ending the day at Rs 38.60. There might some more room in the stock after a small pull back. Oil Exploration stocks were on fire, with AlphaGeo, Hindustan Oil Exploration and Selan Exploration making some handy gains. GATI Ltd, KIC Metaliks, Reliance Communications and Genus Powere are some of the stocks to watch out in today's trade