Bulls are likely to score for the second day in a row,as subsiding fears of European debt is likely to provide the much needed trigger for the sluggish markets. Expect the Sensex to gain more than one percent, or more than 150 points for the day.
IT stocks managed to attract lot of buyers yesterday and the trend is likely to continue today. The IT sectoral index gained more than 2.5 percent for the day and might gain further in the short term. Realty stocks have seen red even on a green day as the sector has become target of short sellers. We see Realty outperforming in the short term as there might some heavy short covering in this space.
PSU's made a come back today with HMT, STC India and Dredging corp garnering double digit gains for the day. GATI Ltd is one stock that has seen great action on huge volumes and is worth looking at, as there are talks of stake sale making rounds in the market. New listing Jubilant Food works gained 6 percent to close at Rs 244. we think the stock is priced to perfection, and investors should consider taking some money off the table at the current market price.