Dalal Street is likely to head north after excellent gains yesterday with Nifty eyeing 6100, causing pain to 6000 strike call writers. On the wall street stocks indexes finish with small gains and remain on pace for their best December in nearly 20 years.
The Standard and Poor's 500-stock index is up 6.7 percent for the month. If it closes Friday at this level or higher, it will be the index's best December return since 1991. Japanese stocks declined as auto shares decline on a strengthening yen and concern about Chinese moves to curb car-buying.
News Bytes
* Suzlon sees revival, needs more cash just to survive
* PNB still interested in insurance sector, seeks JV
* NTPC likely to float Rs 18,000-cr tender
* SAIL FPO in Jan, ONGC in March, IOC deferred
* Godrej Properties signs development pact with Addison & Co
* Unity Infra to launch three Nagpur malls by mid-2012
* India Inc raises Rs2 trillion in decade via IPOs
Markets - Expiry moves, volumes low
FIIs were busy seen buying Index Futures and Index options as if it was a regular trading day. Volumes were on the higher side in the F&O segment. Major players appear to be active in the F&O segment. Speculative bets are back in the reckoning but we advice investors to stay cautious with these counters. Choose stocks with good fundamentals.