- Bullishness continued in the markets on the back of trade deal hopes by the middle of January and also the $115 billion stimulus initiated by China. Both the Sensex and Nifty continued to quote close to their all time highs.
- The Tata issue with the Mistry family may be getting a tad more aggressive with the recent Supreme Court appeal filed by Tata Sons against the NCLAT order. That is likely to be sentimentally positive for the Tata Group stocks.
- FPIs were net buyers to the tune of Rs.689 crore while DFIs bought Rs.64 crore on Thursday. The sudden recovery in buying is a good sign and hints at a rising risk-off investing trend in the market from the FPIs.
- Markets across the Europe and the US were up by more than 1.3% with the NASDAQ inching closer to the 9100 mark. Asia is a tad mixed and the SGX Nifty is hinting at a weak start to trade on Friday after the US drone attacks.
- Traders can look to buy Sun TV at around the Rs.430 mark for targets Rs.500. The stock is likely to attract attention in the media space due to its strong DTH and network franchise and also due to the troubles at Zee.
- ACC could be the dark horse for the month with the renewed thrust on infrastructure and the sharp growth in cement output for the month of November. One can look to buy ACC at 1495 with targets of Rs.1600 in a quarter.
- Sugar stocks have been doing extremely well with lower supply domestically keeping prices buoyant. In addition, the export incentives are also favorable. We like Dalmia Sugars at around Rs.125 for targets of Rs.160 in one month.
- The drone attacks on Iran could worsen the situation in the Middle East and we have already seen the impact on oil prices. Markets may be cautious.
