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Stocks on Dalal Street are likely to trade flat as investors might take a pause after two days of rally in the markets. Expect the benchmark index or the Sensex to trade in aband of 50 to 75 points for the day. Midcaps are likely to maintain their momentum even in a flat market
Metal stocks took the honors for the day with sectoral index gaining 3.8 percent for the day. Aluminum stocks like Hindalco and Nalco gained on speculation of rise Chinese alumina prices.MTNL was another surprise gainer among the largecaps with a 10 percent gain for the day, on speculation that the real estate value might be unlocked in the near term.
The markets welcomed the new listing Godrej properties by bidding up the shares by more than 9 percent to Rs 536 level. SREI Infra, GSFC, Micro Tech and Shipping Corp were other gainers in the midcap space. Investors could look at taking short term positions in stocks like Geojit Securities, Exide Ind, Power Grid and Dhampur Sugars ahead of the positive news flow in these counters. Tanla Solutions might be a dark horse for the day. Overall, a flat day with the possibility of further gains in the Midcaps, is in the offing