>> Sunday, February 15, 2009
Last week was moderate with no much good news and not much bad news too.
Inflation fell along with a fall in industrial production data.
The Sensex flirted with 9,700 in Friday trading and closed at 9,635, a gain of 3.6% from last Friday. The Nifty also gained ground, ending the week 3.7% up to close at 2,948.
Obama government has passed out a huge bailout.
The comming week is crucial as it will decide the trend of the markets.
The Elections in the near term will also decide the trend.
Budget is another crucial factor.
Media reports that the finance ministry is also contemplating on a proposal to remove the Securities Transaction Tax (STT) and the easing of some of the foreign direct investment (FDI) norms by the Centre eased supported the ascent. Buying by foreign funds also aided the surge. Fertilizer stocks managed a sharp upmove during the week after the government approved their plants using natural gas instead of fuel oil and naphtha thus enabling the companies to operate at a higher capacity.
Fertilizers and agri sector will see some upside due to budget.
Sectors to watch out for -
Stocks to watch out for.
Titagarh Wagons Ltd.
Larsen & Tubro.
Shree Renuka Sugar Mills.
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