Market retraced the loss of yesterday and closed above 18000 and 5400 Nifty.
Nifty @ 5412 (up 63) and Sensex @ 18044 (up 197).
But the trading was pretty lackluster - nothing happening except that it was May F&O expiry - so there were some stock specific actions for carry forward.
Reliance on the news of the freeing of gas prices for non core customers and TISCo after announcing the result - which included some one off write backs of provision made earlier and a better than expected result for European operations were both up by 2%.
Reliance likely to benefit from the above freeing of gas prices - only if it can ramp up its production .
Tisco - the price of gas to steel suppliers (as they are non core by Govt definition) are likely to go up and also the raw material prices are still rising - and Europe has its own set of problems of economic slowdowns.
Unless the major Banking stocks and the IT stocks start moving up - the market definitely headed lower towards 17600 levels 5300 Nifty levels.
Nifty @ 5412 (up 63) and Sensex @ 18044 (up 197).
But the trading was pretty lackluster - nothing happening except that it was May F&O expiry - so there were some stock specific actions for carry forward.
Reliance on the news of the freeing of gas prices for non core customers and TISCo after announcing the result - which included some one off write backs of provision made earlier and a better than expected result for European operations were both up by 2%.
Reliance likely to benefit from the above freeing of gas prices - only if it can ramp up its production .
Tisco - the price of gas to steel suppliers (as they are non core by Govt definition) are likely to go up and also the raw material prices are still rising - and Europe has its own set of problems of economic slowdowns.
Unless the major Banking stocks and the IT stocks start moving up - the market definitely headed lower towards 17600 levels 5300 Nifty levels.
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