Thursday, May 17, 2012

Pre-market: Markets likely to recover in today's trade

The environment for traders and investors has become quite challenging in the past few days, and there is a good chance that things that the stock market will recover some of the lost ground today.
US stocks fell for the fourth straight day on Wednesday as investors were worried whether Greece would continue to stay in the Eurozone.
The Dow Jones industrial average lost a quarter of a percent to 12,599.The Standard & Poor’s 500 Index lost 0.44% to 1,325, while Nasdaq was down 0.7% to 2874.
Asian stocks are doing better on Thursday morning with most countries trading in the green. The Nikkei is trading flat, Hang Seng is up 0.5% and Singapore has gained 0.4 % at about 7:10am Indian Standard Time.
For the Nifty today, technical analysts suggest that a big session could take the Nifty to 4,750 on the downside and 4,950 on the upside, while the stop loss levels are at 4,800 and 4,900 points. At 7:30 am Indian Standard Time, the SGX Nifty was trading 23 points higher at 4,868.
Piramal Healthcare will be a stock to watch after its buyout of a data firm in the US as analysts will have a more informed take today.
Real estate developer HDIL will attract investors as the company plans to cut its debt by 25-30%.
Cox & Kings has roped in an investor to raise Rs 750 crore in its UK business on the back of rising debt and losses at the consolidated  level.
Among key results today, Bajaj Auto and Bajaj Holdings will be announcing their results. In the smaller companies, investors will need to look at Gujarat Alkalies and PTC Financial, which announce their March quarter results today.

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