Realty, capital goods and bank stocks are likely to have a tough time. Information technology stocks may attract profit taking after recent gains. However, a fair amount of buying at lower levels is not ruled out. Metal stocks too are likely to drift lower on profit taking.
TCS, Power Finance Corporation, Bajaj Financial Services, GTL, Bongaigaon Refinery, Rallis, Hindustan Oil Exploration, IndusInd Bank, Maharashtra Scooters, JK Lakshmi and Infotech Enterprises will announce their quarterly results today.
Unitech will be in focus on reports that the company is in talks with banks to raise an estimated Rs 900 crore loan over the next few days as it needs to repay an existing debt of Rs 1,100 crore in the current month.
Alembic may edge up following an announcement from the company that it has received an approval for a new drug, Lithium Carbonate from USFDA.
The generic drug Lithium Carbonate Capsules will be available in the strengths of 150 mg, 300 mg and 600 mg.
NIIT Technologies may experience a choppy session today. The company has reported a fall of 52% in its consolidated net profit in the quarter ended 31 December 2008.
Macro and Market Factors
The Wall Street closed with heavy losses yesterday as weak economic data and concerns over declining profits triggered a sell-off. The Dow Jones Industrial Average and the Nasdaq composite index went down by around 250 points and 27 points respectively.
And the fall is highly pronounced on the Asian bourses today. A sharp fall in Japanese machinery orders is among the major factors that have contributed to the decline this morning. Back home, quarterly results will have a say in the market's direction. The inflation data will be eyed.
Sensex gains nearly 300 pts
January 14, 2009
Aided by a strong rally in Reliance Industries, Reliance Communications, Reliance Infrastructure and Infosys Technologies, the market ended the session on an upbeat note today. Several other blue chip stocks too vaulted higher as the bulls, prompted by a strong close on the Asian bourses, called the shots right till the end of the session. >>more
US stocks: Wall St falls on bank anxiety
January 14, 2009
New York : US stocks fell to six-week lows on Wednesday on worries about steeper losses at banks worldwide and as US retail sales data pointed to a deepening recession. >>more