Business Daily from THE HINDU group of publications
Monday, Jul 16, 2007
ePaper
Business Daily from THE HINDU group of publications Monday, Jul 16, 2007 ePaper |
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Markets
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Stock Markets Columns - Chat
Jogin was busy participating in an SMS poll on the mystery NRI behind BSNL’s woes. Dakshinamoorthy was studying the options RBI might have when reviewing the credit policy at the end of the month. Sridevi was tabulating the sectoral g rowth rates over the last five years… Till Khan alerted them that it was time for the weekly market chat. Join the discussion! * * * Kay: Hi. Analysts and bears are baffled… Sri: At the march of the Sensex? Dax: There is no logic to this run. Jog: Fill your coffers and scoot? Kay: Overall market positive. Dax: But IT index reflects weakness. Jog: Rupee impact. Inflows continue! Sri: Be cautious at these levels. Kay: Is the market overbought? Jog: Nifty could see 4,550 level in the short term. Sri: With a downside support at 4,445 level. Dax: Any numbers of last week? Sri: Bartronics was up 10% last week, while Amara Raja earned half that much. Sterlite and Ashapura made a profit of about 4%. HDFC Bank and Patni rose 1% on July 9, even as Dr Reddy’s, Sterlite Opt, Hindalco and DLF ended that d ay on a positive note. Kay: Major hurdles in the form of Infosys guidance… Jog: And the mega issues of DLF and ICICI Bank… Dax: Are now behind us. Sri: Markets are ignoring the negatives. Jog: Such as high crude prices and slowing growth. Sri: In certain sectors. Quarterly earnings… Kay: Are going to dictate the trend! Jog: Stay off TCS and Satyam… Dax: As their earnings could be similar to Infy? Sri: Pharmaceuticals such as Dr Reddy’s, Cipla… Kay: Could rev up next as participants turn to… Jog: Sectors that underperformed the current rally? Sri: FMCG stocks such as ITC and Godrej Consumers… Dax: Can also be contrarian buys. Jog: More upside to cement stocks. Sri: Steady price increase. More to come? Dax: Reliance would touch 2,000… Kay: In the weeks to come, so they say. Jog: Whole world celebrating but… Dax: ITC is still warming up? Kyon? Kay: Though BHEL and L&T have run up quite a bit… Sri: Sure buy considering their order books! Jog: Everonn – bumper listing? Kay: Metals rise on global cues. Sri: Bharat Rasayan quite prominent on the up-move. Jog: India Glycol stock witnesses strong rally. Dax: With increased volumes on Friday. Sri: Watch Monnet Ispat for investment. Jog: Sesa Goa rising after long sideways movement. Kay: Chase and buy on declines. Jog: GMDC, go for short term? Sri: Allahabad Bank bullish on earnings report. Kay: Buy on declines! Dax: Aurobindo Pharma weak… Jog: Should see minor reversal on covering. Sri: “Thy punto, thy stock, thy reverse, thy distance.” Kay: Merry Wives of Windsor! Bye… * * * Lee with inputs from Mad, Lok, Vim and Bij. Blog at http://MarketChat.blogspot.com
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