Market boost after Election poll result SENSEX moved 440 point higher in starting trade while Nifty is very close to 6300 level. However Global cues are not so good. Strong INR give support to Indian Market, INR gained 0.5% traded below 61.80.
Bank, Capital goods, Realty and Power shares traded higher, While Pharma shares traded under pressure. Midcap and Small Cap traded higher.
At 10:30 am BSE SENSEX traded with 1.82% gain and Nifty at 6277.25 with 1.89% gain. IDFC, ICICI Bank, HDFC Bank, Bank of Baroda, PNB, L&T, HDFC, and SBI gained 5.2-2.3%.
Market Experts positive on trend, market expected to go higher, stocks which are looking profitable Power Sectror stocks such as Tata Power, JP Infra, Dish TV, NIIT, IDFC and Hindalco.
Many Investors looking for MNC stocks, according to experts believe that apart from regular returns MNC stocks give some extra when their parent companies decide to increase stake or go for merger or de-listing of Indian arms in future.
Many MNC companies have already hiked their stakes significantly. The Parent companies aims to double Asian revenue. Many MNC targeted India’s huge Middle class population and rural market and would be keen to increase their stakes in their Indian subsidiaries.
At NSE CNX MNC index traded with 0.02% gain, SSLT, MPHASIS, RANBAXY, Colgate Palmolive, Cummins India, OFSS traded higher.
Nifty Future trading Tips by experts
Weak cues from global market, and slowness in Indian currency against US dollar pressurize Indian stock Market. Rupee fell 0.2% traded at 62.44, due to high selling in FMCG, Realty and Bank shares Indian Markets weaken. MidCap and Small Cap shares also weak.
Sensex traded near 20881 down 0.07% and Nifty traded near 6210 down 0.13%.
Top gainers Jindal Steel, Hidalco, GAIL, Asiam Paints and BHEL.
Top Losers Dr. Reddy’s Lab, Kotak Mahindra, HDFC, Sun Pharma, NTPC.
Stock Market trading Calls
Buy ROLTA at 65 with target of Rs 70 and stop loss 62.
Buy Dena Bank at 56 with target of Rs 60 and stop loss 52.
Sell Yes Bank at 370 with target of Rs 360 and stop loss 380.
Sell PNB at 550 with target of Rs 540 and stop loss 560.