Indian markets might open higher on Wednesday following a rally in U.S. and global markets. This will be the second day of big gains for equities after a late surge in the afternoon session. we expect the Sensex to gain
Metal and Auto stocks were the front runners in the market yesterday. Metal stocks might repeat the feet again today, as the falling dollar might help, Steel, Aluminum and Copper stocks.After reaching a nine-month high against the euro on Monday, the dollar slipped slightly Tuesday after fellow euro-zone countries agreed to give Greece one month to show it can right its unbalanced budget.
Power stocks might outperform the rest of the market as the Indian Power stocks are likely to mimic big gains in Power stocks abroad. Oil stocks like Cairn Energy and exploration stocks like Selan Exploration might be upbeat after Oil prices spike by $4 on NYMEX.
Midcap stocks continued to fly high again on D-Street. Varun Ind, VIP Industries, Brand House Retail and United Phosphorus are some of the stocks that look strong from a traders perspective. The dream run of thinksoft looks to be over. The stock hit lower circuit in the first hour of trade. There are rumors circling that a big operator who is associated with this counter is in trouble (The scrip will move to T to T segment start ing Feb 19, 2009). Hexaware Technologies, Great Offshore Ltd, Cairn India and Hindustan Oil Exploration are some of the stoks to keep on your Rada