Finally there is some relief from the bears. A decline which has taken a big toll on our portfolios is finally has got some plaster. Guys, we can not expect the same scenario again. It is time to buy as well as sell. Get rid of PSU stocks and other trading stocks. There (PSU) appreciation is hardly visible over the yeas. I can see more downside than an upside. NTPC has been a big disappointment. SAIL is a good story but it is not coming in terms with the international standards. Had this been a Mittal stock it would have been double of what it is now.
What is important in the market is timing. Getting out and buying in the right time. Changes inflicted today may not necessarily last.
So, what can be done is plan to invest in the right stock.
Yesterday I picked up L&T and TISCO. Well, it has performed nicely today.
For tomorrow my advice is to study the market before investing your hard earned money.
The breadth of the market was positive after several sessions, with the gainers outpacing the losers in the ratio of 1.92:1. Of the 2,466 stocks traded on the BSE, 1,596 stocks advanced, 830 stocks declined and 40 stocks ended unchanged. All the sectoral indices closed with significant gains.
The BSE Oil & Gas index was the major gainer and soared 8.62%
Followed by the BSE Metal index (up 7.10%),
the BSE CG index (up 6.64%),
the BSE CD index (up 6.16%)
and the BSE FMCG index (up 5.69%) etc.
All the 30 Sensex stocks ended in the green. Attracting strong buying support Reliance Industries surged by 11.74% at Rs922, Reliance Energy shot up by 14.91% at Rs433, Grasim jumped by 13.57% at Rs1,776, BHEL advanced by 8.10% at Rs1,874, ACC scaled up by 7.57% at Rs754, HDFC zoomed 9.05% at Rs1,208, ITC added 9.04% at Rs160, NTPC vaulted by 8.54% at Rs109, Tata Steel firmed up by 7.20% at Rs456 and L&T climbed 7.53% at Rs2,023. The other front-line stocks also moved up by 1-7% each.
Oil stocks witnessed sustained buying support. Indraprastha Gas soared 12.62% at Rs108, Petronet LNG added 11.17% at Rs42, BOC Indian scaled up by 10.13% at Rs160 and Essar Oil gained 10% at Rs39. MRPL, Gujarat State Petronet, Gujarat Gas, Gail and Hindustan Oil Exploration shot up by over 8% each. Metal stocks, too, registered a smart bounce back. Jindal Stainless zoomed 24.60% at Rs83, Mahindra Ugine Steel soared 18.90% at Rs110, Man Industries moved up by 18.49% at Rs158 and Uttam Galva surged by 15.26% at Rs29. Hindustan Zinc, Shah Alloys, Mukand, Gujarat NRE Coke, Sun Iron & Steel and Bhushan Steel Strips rose 12-15% each.
Over 66.55 lakh Reliance Industries shares changed hands on the BSE followed by GV Films (54.39 lakh shares), IFCI (52.21 lakh shares), HFCL (39.51 lakh shares) and Reliance Communication Ventures (38.43 lakh shares).
Reliance Industries was the most actively traded counter on the BSE and registered a turnover of Rs594 crore followed by Tata Steel (Rs94.97 crore), SBI (Rs94.29 crore), Hindustan Zinc (Rs92 crore) and Infosys (Rs87 crore).
With best regards,
Abdul Ahad
