Wednesday, October 6, 2010

Bulls climb 'Wall' Street, looking towards Dalal Street

Wall Street soared to a five month high on Tuesday after Japan's surprise move to lower interest rates and inject cash into the economy raised hopes for similar move by US authorities.

Other key data indicator - The Institute for Supply Management (ISM) reported its service-sector index increased last month to 53.2 from 51.5 in August.

Japanese Stocks jump

Bank stocks lead the bull charge in Japan after the regulator surprised with a rate cut. Australia too is trading comfortably higher, up nearly 1.5 pct

Dalal Street to gap up

With positive global cues, Dalal Street will gap up but sustaining at higher levels is still a question. After ADAG we mgiht see Jaiprakash or Tata group stocks spike up, if not today in the next couple of trading sessions.

Other global markets performing well might not augur for Indian markets as flows might hold on. It is very important to monitor global markets and commodities. Copper is at 26 month high while Gold is trading at life time high. Crude Oil is looking up.This is one of those strange situation where all asset classes are attracting interest. We know where this will lead to...

Careerpoint and Eros will be listing on the street today