Tuesday, February 16, 2010

Stocks to edge higher following positive global cues

Book Nifty btst in good Profit

Stocks in Mumbai look to recover after a correcting a little bit on Monday. Positive vibes from the Eurpean markets and uptrend in the Asian markets might bring back some buyers in to the market. Expect the benchmark index or the Sensex to gain nearly 1 percent or more than 150 points for the day

Stocks edged lower yesterday following losses in Oil and Gas and Technology stocks. Telecom sector was a major drag on the indices,with Bharti Airtel giving up more than 9 percent, as the market gave a thumbs down to the company's acquisition of Zain telecom's assets.Reliance Communications, Strelite Ind and Tata Power were other major losers in the Sensex.

The new listing, Indore-based Syncom Healthcare, which is in the marketing and manufacturing of drugs and formulations, finished the day with a premium of 17.33 per cent at Rs 88, after touching a high of Rs 107. We believe that the scrip is over valued at current levels. But, there is heightened speculative interest in this stock and who knows, this might be a money spinner like Think Soft, as it all depends on the operator behind the stock.Hind Rectifiers and SREi Infra were other stocks that look strong from a short term perspective.

Overall, a strong day for the market is in the offing with the possibility of more than 150 point gain.Lakshmi Energy, Infinite Computers and Hexaware tehnologies are some of the stocks to keep on the Radar for traders this morning