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We like commodity related stocks like Sterlite Ind, SAIL and Hindalco on today's trading. Metals sector is taking a bet in the short term as hot money is flowing in to these sectors and we might see a sharp move on some speculative buying.
Shipping is another sector we think is a decent trade at current levels. Investors could bet on recovery in global trade and firming shipment rates. The Baltic Dry index that tracks the shipping rates has vaulted by 96 percent for the month of May.Shipping related stocks like Bharati Shipyard, Great Offshore Ltd and shipping stocks like Mercator lines, Varun Shipping and Shipping Corp might see some demand.
Oil stocks are looking hot ahead of deregulation and HPCL, BPCL, Indian Oil are some of the major beneficiaries of the move. Also watch out for stocks like Vishal Retail, Opto circuits, Nalco and Mcleod Russel in today's trade.Over all a flat to negative day with stock specific activity in the offing for investors in Dalal Street.