The stock market indices in Mumbai might get a nice lift from the positive momentum in global equities. There might be some value buying and short covering in the market,that could lead to a 0.8 to one percent gain on the benchmark index.
Consumer Durables stocks were leading gainers on Sensex, while FMCG and IT stocks remained laggards. It was a come back day for the Midcap and Smallcap stocks, as the indices tracking these stocks gained 1.8 percent and 2.7 percent for the day.
Agri Commodities were on fire yesterday with LT Foods, KRBL locked in 20 percent circuit. Other gainers include Hitachi Home, Subros Ltd and Elgi Equipments, which managed double digit percentage gains.Stocks like Great OffShore and cement stocks like ACC and Gujarat Ambuja might be great BTST plays in the current market.
Overall, a positive day for the markets in the offing, and any rise in the market should be used to pare long positions, as it is not the time to have overexposure to equities