Stocks in India are getting ready for a lower pen after a day of correction on Wednesday. Expect the Sensex to lose nearly 1.5 percent or 150 to 200 points in today's trade. Midcaps and Smallcap stocks might continue to rise in spite of the dampened sentiment
We have seen a great move up in traditional stocks like Tata Motors, Tata Steel, Ambuja Cements and Hindalco were among the top gainers yesterday and these stocks might correct a bit today. We would like to reiterate our bullishness towards PSU's, especially Shipping Corp and MTNL. MTNL Might see another good day on some positive news regarding merger with BSNL and divestment at a later day.
Oil is one sector we are bullish in today's trade. Watch out for Cairn India, Essar Oil and last but not the least some drillers like Shiv-Vani and Jindal drilling. Crude-oil futures rose Wednesday to their highest level in more than six months, ending above $62 a barrel on higher demand.
Midcap and Smallcap stocks are likely to continue their dream run as investors look for new places to make money. Watch out for stocks that have under performed in the past few days as investors might go shopping in these stocks. CineMax Ltd, Edelweiss Capital, CESC, Transport Corporation and Nissan Copper are the stocks that are worth keeping on the radar for today's trade.